H.4.1 Factors Affecting Reserve Balances of Depository Institutions

FEDERAL RESERVE statistical release H.4.1 Factors Affecting Reserve Balances of Depository Institutions and Condition Statement of Federal Reserve Banks October 14, 2004 1. Factors Affecting Reserve Balances of Depository Institutions Millions of dollars Reserve Bank credit, related items, and Averages of daily figures reserve balances of depository institutions Week ended Change from week ended Wednesday at Federal Reserve Banks Oct 13, 2004 Oct 6, 2004 Oct 15, 2003 Oct 13, 2004 Reserve Bank credit 768,783 + 3,867 + 45,965 773,823 Securities held outright 701,602 + 911 + 45,186 701,617 U.S. Treasury1 701,602 + 911 + 45,196 701,617 Bills2 258,864 + 54 + 17,065 258,878 Notes and bonds, nominal2 425,339 + 856 + 25,744 425,339 Notes and bonds, inflation-indexed2 15,262 0 + 1,808 15,262 Inflation compensation3 2,137 + 2 + 580 2,138 Federal agency2 0 0 - 10 0 Repurchase agreements4 27,071 + 2,607 + 678 30,250 Loans to depository institutions 193 - 8 + 91 186 Primary credit 5 + 3 + 1 2 Secondary credit 0 0 0 0 Seasonal credit 188 - 11 + 90 184 Float -128 - 128 + 223 1,691 Other Federal Reserve assets 40,044 + 484 - 214 40,079 Gold stock 11,043 0 0 11,043 Special drawing rights certificate account 2,200 0 0 2,200 Treasury currency outstanding5 36,295 + 14 + 1,006 36,295 Total factors supplying reserve funds 818,321 + 3,881 + 46,971 823,362 Currency in circulation5 742,571 + 4,001 + 39,450 743,398 Reverse repurchase agreements6 24,883 - 5 + 5,788 24,985 Foreign official and international accounts 24,883 - 5 + 5,788 24,985 Dealers 0 0 0 0 Treasury cash holdings 295 + 4 - 78 299 Deposits with F.R. Banks, other than reserve balances 15,789 - 691 + 224 16,566 U.S. Treasury, general account 4,682 - 652 + 937 5,466 Foreign official 87 - 14 - 52 86 Service-related 10,722 + 2 - 648 10,722 Required clearing balances 10,722 + 2 - 529 10,722 Adjustments to compensate for float 0 0 - 118 0 Other 298 - 27 - 14 292 Other liabilities and capital 23,650 + 202 + 3,127 23,479 Total factors, other than reserve balances, absorbing reserve funds 807,189 + 3,512 + 48,513 808,728 Reserve balances with Federal Reserve Banks 11,133 + 370 - 1,541 14,634 Memo (off-balance-sheet items): Marketable securities held in custody for foreign official and international accounts2,7 1,288,190 - 3,907 + 297,407 1,290,638 U.S. Treasury 1,044,271 - 5,133 + 246,475 1,045,740 Federal agency 243,919 + 1,225 + 50,932 244,898 Securities lent to dealers 833 - 764 - 126 0 Note: Components may not sum to totals because of rounding. 1. Includes securities lent to dealers, which are fully collateralized by other U.S. Treasury securities. 2. Face value of the securities. 3. Compensation that adjusts for the effect of inflation on the original face value of inflation-indexed securities. 4. Cash value of agreements, which are collateralized by U.S. Treasury and federal agency securities. 5. Estimated. 6. Cash value of agreements, which are collateralized by U.S. Treasury securities. 7. Includes U.S. Treasury STRIPS and other zero coupon bonds at face value. Sources: Federal Reserve Banks and the U.S. Department of the Treasury.

H.4.1 2. Consolidated Statement of Condition of All Federal Reserve Banks Millions of dollars Change since Eliminations from Assets, liabilities, and capital consolidation Wednesday Wednesday Wednesday Oct 13, 2004 Oct 6, 2004 Oct 15, 2003 Assets Gold certificate account 11,039 0 0 Special drawing rights certificate account 2,200 0 0 Coin 748 - 16 - 65 Securities, repurchase agreements, and loans 732,053 + 9,271 + 45,194 Securities held outright 701,617 + 31 + 45,118 U.S. Treasury1 701,617 + 31 + 45,128 Bills2 258,878 + 29 + 16,999 Notes and bonds, nominal2 425,339 0 + 25,744 Notes and bonds, inflation-indexed2 15,262 0 + 1,808 Inflation compensation3 2,138 + 2 + 577 Federal agency2 0 0 - 10 Repurchase agreements4 30,250 + 9,250 0 Loans 186 - 10 + 76 Items in process of collection (528) 10,600 + 3,991 - 3,702 Bank premises 1,732 + 2 + 136 Other assets5 38,439 + 469 + 133 Total assets (528) 796,811 + 13,718 + 41,697 Liabilities Federal Reserve notes, net of F.R. Bank holdings 708,146 + 2,551 + 38,085 Reverse repurchase agreements6 24,985 + 249 + 6,343 Deposits (0) 31,292 + 8,840 - 3,838 Depository institutions 25,447 + 8,985 - 4,373 U.S. Treasury, general account 5,466 - 110 + 609 Foreign official 86 + 6 - 79 Other (0) 292 - 42 + 3 Deferred availability cash items (528) 8,909 + 1,756 - 2,398 Other liabilities and accrued dividends7 2,905 + 113 + 666 Total liabilities (528) 776,237 + 13,509 + 38,858 Capital accounts Capital paid in 10,511 + 3 + 1,772 Surplus 8,847 0 + 472 Other capital accounts 1,217 + 206 + 596 Total capital 20,574 + 208 + 2,839 Note: Components may not sum to totals because of rounding. 1. Includes securities lent to dealers, which are fully collateralized by other U.S. Treasury securities. 2. Face value of the securities. 3. Compensation that adjusts for the effect of inflation on the original face value of inflation-indexed securities. 4. Cash value of agreements, which are collateralized by U.S. Treasury and federal agency securities. 5. Includes assets denominated in foreign currencies, which are revalued daily at market exchange rates. 6. Cash value of agreements, which are collateralized by U.S. Treasury securities. 7. Includes exchange-translation account reflecting the daily revaluation at market exchange rates of foreign exchange commitments. 3. Maturity Distribution of Loans and Securities, October 13, 2004 Millions of dollars U.S. Treasury Federal agency Reverse securities1 securities Repurchase Maturity Loans repurchase Weekly Weekly agreements2 Holdings Holdings agreements2 changes changes Within 15 days 29 44,652 - 194 0 0 30,250 24,985 16 days to 90 days 157 161,134 + 34 0 0 0 0 91 days to 1 year 0 167,056 + 189 0 0 . . . . . . Over 1 year to 5 years . . . 201,941 + 1 0 0 . . . . . . Over 5 years to 10 years . . . 50,518 + 1 0 0 . . . . . . Over 10 years . . . 76,316 0 0 0 . . . . . . All 186 701,617 + 31 0 0 30,250 24,985 Note: Components may not sum to totals because of rounding. . . . Not applicable. 1. Includes the original face value of inflation-indexed securities and compensation that adjusts for the effect of inflation on the original face value of such securities. 2. Cash value of agreements classified by remaining maturity of the agreements.

H.4.1 4. Statement of Condition of Each Federal Reserve Bank on October 13, 2004 Millions of dollars Kansas San Assets, liabilities, and capital Total Boston New York Philadelphia Cleveland Richmond Atlanta Chicago St. Louis Minneapolis City Dallas Francisco Assets Gold certificate account 11,0 3 9 4 9 4 4,6 4 9 3 8 2 4 5 2 8 1 9 8 9 4 9 2 4 3 2 5 2 1 8 3 0 2 5 2 5 1,055 Special drawing rights certificate acct. 2,2 0 0 1 1 5 8 7 4 8 3 1 0 4 1 4 7 1 6 6 2 1 2 7 1 3 0 6 6 9 8 234 Coin 7 4 8 1 7 4 4 4 5 4 4 7 1 8 1 9 9 4 9 2 1 4 8 1 2 3 107 Securities, repurchase agreements, and loans 732,0 5 3 32,9 4 6 334,4 8 0 20,8 7 9 29,9 8 0 53,3 2 6 47,3 2 9 63,2 5 8 20,6 2 8 15,3 6 1 18,4 6 4 31,9 9 4 63,407 Securities held outright 701,6 1 7 32,9 4 6 304,2 3 0 20,8 6 8 29,9 8 0 53,3 2 6 47,3 1 5 63,2 0 1 20,6 1 3 15,3 0 3 18,4 3 7 31,9 9 0 63,407 U.S. Treasury1 701,6 1 7 32,9 4 6 304,2 3 0 20,8 6 8 29,9 8 0 53,3 2 6 47,3 1 5 63,2 0 1 20,6 1 3 15,3 0 3 18,4 3 7 31,9 9 0 63,407 Bills2 258,8 7 8 12,1 5 6 112,2 5 3 7,7 0 0 11,0 6 2 19,6 7 6 17,4 5 8 23,3 1 9 7,6 0 6 5,6 4 6 6,8 0 3 11,8 0 4 23,396 Notes and bonds3 442,7 3 9 20,7 9 0 191,9 7 8 13,1 6 8 18,9 1 8 33,6 5 0 29,8 5 7 39,8 8 1 13,0 0 7 9,6 5 7 11,6 3 4 20,1 8 7 40,012 Federal agency2 0 0 0 0 0 0 0 0 0 0 0 0 0 Repurchase agreements4 30,2 5 0 0 30,2 5 0 0 0 0 0 0 0 0 0 0 0 Loans 1 8 6 0 0 1 2 0 0 1 4 5 8 1 5 5 8 2 7 4 0 Items in process of collection 11,1 2 8 7 2 2 9 8 7 4 4 0 7 8 2 4 8 6 6 8 6 8 2 5 8 9 5 6 0 6 1,0 7 3 5 5 1 3,075 Bank premises 1,7 3 2 9 7 1 9 1 5 2 1 5 4 1 4 4 2 7 8 1 4 5 5 9 1 2 3 7 8 2 3 0 180 Other assets5 38,4 3 9 1,7 4 1 13,8 6 7 1,1 0 7 2,3 5 9 5,9 8 7 2,2 1 5 3,4 7 0 1,0 0 5 1,1 3 4 7 9 7 9 8 6 3,771 Interdistrict settlement account 0 + 3,0 8 1 -37,2 6 4 + 3,8 8 2 + 8 0 1 + 1,9 4 2 +11,2 3 8 + 2,4 9 7 + 1,3 1 6 - 5 8 5 + 1,6 7 5 + 3,0 5 7 + 8,361 Total assets 797,3 3 9 39,2 1 3 317,8 2 8 26,8 7 0 34,6 7 6 62,9 2 2 62,8 8 6 71,4 3 1 24,3 4 8 16,9 0 9 22,5 0 2 37,5 6 4 80,189 Note: Components may not sum to totals because of rounding. 1. Includes securities lent to dealers, which are fully collateralized by other U.S. Treasury securities. 2. Face value of the securities. 3. Includes the original face value of inflation-indexed securities and compensation that adjusts for the effect of inflation on the original face value of such securities. 4. Cash value of agreements, which are collateralized by U.S. Treasury and federal agency securities. 5. Includes assets denominated in foreign currencies, which are revalued daily at market exchange rates.

H.4.1 4. Statement of Condition of Each Federal Reserve Bank on October 13, 2004 (continued) Millions of dollars Kansas San Assets, liabilities, and capital Total Boston New York Philadelphia Cleveland Richmond Atlanta Chicago St. Louis Minneapolis Dallas City Francisco Liabilities Federal Reserve notes outstanding 831,94 5 38,0 3 0 321,2 1 3 33,1 4 4 34,9 5 2 64,6 7 4 72,9 6 4 69,7 6 7 25,2 5 6 16,1 1 7 24,5 8 4 42,2 3 1 89,013 Less: notes held by F.R. Banks 123,79 8 4,0 8 6 33,2 8 8 8,8 3 2 5,5 1 3 11,7 4 6 16,7 1 2 8,4 8 5 3,1 8 0 1,5 7 3 4,5 0 9 7,5 4 6 18,327 Federal Reserve notes, net 708,14 6 33,9 4 3 287,9 2 5 24,3 1 2 29,4 3 9 52,9 2 8 56,2 5 2 61,2 8 1 22,0 7 6 14,5 4 4 20,0 7 5 34,6 8 5 70,686 Reverse repurchase agreements1 24,98 5 1,1 7 3 10,8 3 4 7 4 3 1,0 6 8 1,8 9 9 1,6 8 5 2,2 5 1 7 3 4 5 4 5 6 5 7 1,1 3 9 2,258 Deposits 31,29 2 9 6 8 12,6 4 6 6 0 2 1,8 2 8 3,0 4 7 2,6 4 8 4,6 6 9 6 5 3 4 0 6 7 9 9 8 0 3 2,222 Depository institutions 25,44 7 9 6 6 6,9 4 9 6 0 1 1,8 2 4 2,9 2 3 2,6 4 5 4,6 6 6 6 5 1 4 0 5 7 9 8 8 0 2 2,218 U.S. Treasury, general account 5,46 6 0 5,4 6 6 0 0 0 0 0 0 0 0 0 0 Foreign official 8 6 2 6 3 1 2 7 2 3 1 1 1 0 4 Other 29 2 0 1 6 8 1 1 1 1 6 2 0 1 0 1 0 0 Deferred availability cash items 9,43 7 7 0 3 9 7 6 5 2 0 6 4 4 5 0 9 9 9 7 8 6 9 2 7 6 7 0 1 5 4 4 5 1 3 2,184 Other liabilities and accrued dividends2 2,90 5 1 7 0 9 2 0 1 0 8 1 4 3 3 0 6 2 3 8 2 6 6 1 1 9 9 3 1 0 3 1 4 0 297 Total liabilities 776,76 5 36,9 5 7 313,3 0 1 26,2 8 5 33,1 2 2 58,6 8 9 61,8 2 1 69,3 3 6 23,8 5 8 16,2 8 9 22,1 7 9 37,2 8 1 77,646 Capital Capital paid in 10,51 1 1,6 3 4 2,1 6 3 2 8 6 7 6 2 2,0 9 3 5 1 8 1,0 2 5 2 3 8 2 6 3 1 4 9 1 3 1 1,249 Surplus 8,84 7 4 4 8 2,0 3 1 2 5 9 7 2 7 2,0 7 4 4 8 9 9 2 4 2 2 8 3 4 6 1 6 2 1 1 1 1,048 Other capital 1,21 7 1 7 4 3 3 3 4 1 6 5 6 6 5 8 1 4 5 2 3 1 2 1 2 4 1 246 Total liabilities and capital 797,33 9 39,2 1 3 317,8 2 8 26,8 7 0 34,6 7 6 62,9 2 2 62,8 8 6 71,4 3 1 24,3 4 8 16,9 0 9 22,5 0 2 37,5 6 4 80,189 Note: Components may not sum to totals because of rounding. 1. Cash value of agreements, which are collateralized by U.S. Treasury securities. 2. Includes exchange-translation account reflecting the daily revaluation at market exchange rates of foreign exchange commitments. 5. Collateral Held against Federal Reserve Notes: Federal Reserve Agents' Accounts Millions of dollars Wednesday Federal Reserve notes and collateral Oct 13, 2004 Federal Reserve notes outstanding 831,945 Less: Notes held by F.R. Banks not subject to collateralization 123,798 Federal Reserve notes to be collateralized 708,146 Collateral held against Federal Reserve notes 708,146 Gold certificate account 11,039 Special drawing rights certificate account 2,200 U.S. Treasury and agency securities pledged1 694,907 Other assets pledged 0 Memo: Total U.S. Treasury and agency securities1 731,867 Less: face value of securities under reverse repurchase agreements 24,996 U.S. Treasury and agency securities eligible to be pledged 706,870 Note: Components may not sum to totals because of rounding. 1. Includes face value of U.S. Treasury and agency securities held outright, compensation to adjust for the effect of inflation on the original face value of inflation-indexed securities, and cash value of repurchase agreements.