FEDERAL RESERVE Statistical Release

H.4.1
Factors Affecting Reserve Balances of Depository Institutions and
Condition Statement of Federal Reserve Banks
                                                                                           October 21, 2004
1. Factors Affecting Reserve Balances of Depository Institutions
Millions of dollars
                                                                   Averages of daily figures
Reserve Bank credit, related items, and                   Week ended   Change from week ended     Wednesday
reserve balances of depository institutions at           Oct 20, 2004 Oct 13, 2004 Oct 22, 2003 Oct 20, 2004
Federal Reserve Banks

Reserve Bank Credit                                         770,529    +   1,756    +  49,424      765,776
 Securities held outright                                   702,661    +   1,059    +  46,036      702,813       
    U.S. Treasury (1)                                       702,661    +   1,059    +  46,046      702,813
       Bills (2)                                            259,068    +     204    +  17,071      259,078
       Notes and bonds, nominal (2)                         426,191    +     852    +  26,596      426,333
       Notes and bonds, inflation-indexed (2)                15,262            0    +   1,808       15,262
       Inflation compensation (3)                             2,139    +       2    +     570        2,140
    Federal agency (2)                                            0            0    -      10            0      
 Repurchase agreements(4)                                    26,964    -     107    +   2,393       21,250
 Loans to depository institutions                               173    -      20    +      73          179
    Primary credit                                                5            0    -       9           24
    Secondary credit                                              0            0            0            0
    Seasonal credit                                             168    -      20    +      82          154
 Float                                                          389    +     526    +     737          956
 Other Federal Reserve assets                                40,342    +     298    +     186       40,578
Gold stock                                                   11,043            0            0       11,043
Special drawing rights certificate account                    2,200            0            0        2,200
Treasury currency outstanding (5)                            36,309    +      14    +   1,012       36,309
       
Total factors supplying reserve funds                       820,082    +   1,770    +  50,436      815,328
                                                                   
Currency in circulation(5)                                  741,404    -   1,167    +  38,771      741,973
Reverse repurchase agreements (6)                            25,431    +     548    +   6,798       25,843
   Foreign official and international accounts               25,431    +     548    +   6,798       25,843
   Dealers                                                        0            0            0            0
Treasury cash holdings                                          299    +       4    -      90          302
Deposits with F.R.Banks, other than reserve balances         16,130    +     341    -   1,085       15,651       
  U.S. Treasury, general account                              5,232    +     550    -     171        4,785
  Foreign official                                               99    +      12    +       2           76
  Service-related                                            10,491    -     231    -     934       10,491
     Required clearing balances                              10,491    -     231    -     751       10,491
     Adjustments to compensate for float                          0            0    -     184            0
  Other                                                         308    +      10    +      19          299
Other liabilities and capital                                23,880    +     230    +   3,644       23,765

Total factors, other than reserve balances,                                        
   absorbing reserve funds                                  807,145    -      44    +  48,040      807,534

Reserve balances with Federal Reserve Banks                  12,936    +   1,813    +   2,396        7,794
                                                                

Memo (off-balance-sheet items):
  Marketable securities held in custody for foreign
         official and international accounts(2,7)         1,294,242    +   6,052    + 298,846    1,293,987
     U.S. Treasury                                        1,047,623    +   3,352    + 248,587    1,050,357
     Federal agency                                         246,618    +   2,699    +  50,258      243,630
  Securities lent to dealers                                    373    -     460    -   1,542        1,836   


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.


2. Consolidated Statement of Condition of All Federal Reserve Banks
Millions of Dollars
                                              Eliminations                          Change Since
                                                  from       Wednesday        Wednesday        Wednesday
Assets, liabilities, and capital             consolidation Oct 20, 2004     Oct 13, 2004     Oct 22, 2003

Assets
Gold certificate account                                        11,039                0                0
Special drawing rights certificate account                       2,200                0                0
Coin                                                               758        +      10        -      52
Securities, repurchase agreements, and loans                   724,242        -   7,811        +  41,884
   Securities held outright                                    702,813        +   1,196        +  46,049
      U.S. Treasury (1)                                        702,813        +   1,196        +  46,059       
         Bills (2)                                             259,078        +     200        +  16,947
         Notes and bonds, nominal (2)                          426,333        +     994        +  26,738
         Notes and bonds, inflation-indexed (2)                 15,262                0        +   1,808
         Inflation compensation (3)                              2,140        +       2        +     566
      Federal agency (2)                                             0                0        -      10
   Repurchase agreements (4)                                    21,250        -   9,000        -   4,250    
   Loans                                                           179        -       7        +      85
Items in process of collection                    (1,139)        7,412        -   3,188        -     193
Bank premises                                                    1,735        +       3        +     138
Other assets (5)                                                38,894        +     455        +      42
      Total assets                                (1,139)      786,279        -  10,532        +  41,817
                          
Liabilities
Federal Reserve notes net of FR Bank holdings                  706,719        -   1,427        +  37,512
Reverse repurchase agreements (6)                               25,843        +     858        +   7,732
Deposits                                              (0)       23,503        -   7,789        -   5,800       
  Depository institutions                                       18,343        -   7,104        -   5,459
  U.S. Treasury, general account                                 4,785        -     681        -     338
  Foreign official                                                  76        -      10        -      23
  Other                                               (0)          299        +       7        +      20
Deferred availability cash items                  (1,139)        6,449        -   2,460        -   1,064
Other liabilities and accrued dividends (7)                      2,797        -     108        +     534
      Total liabilities                           (1,139)      765,311        -  10,926        +  38,913
                          
Capital Accounts
Capital paid in                                                 10,523        +      12        +   1,789
Surplus                                                          8,847                0        +     467
Other capital accounts                                           1,598        +     381        +     648
      Total capital                                             20,968        +     394        +   2,905


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 securites.
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 20, 2004
Millions of dollars
                                    U.S. Treasury           Federal agency                      Reverse
Maturity             Loans           securities (1)          securities           Repurchase   repurchase
                                              Weekly                    Weekly    agreements(2)agreements(2)
                                  Holdings    changes      Holdings    changes    
Within 15 days             176       50,635   +   5,983            0           0       21,250       25,843
16 days to 90 days           2      155,425   -   5,709            0           0            0            0
91 days to 1 year            0      167,785   +     729            0           0     ------      ------
Over 1 to 5 years     ------        202,112   +     171            0           0     ------      ------
Over 5 to 10 years    ------         50,539   +      21            0           0     ------      ------
Over 10 years         ------         76,317   +       1            0           0     ------      ------
                   		 	
All                        179      702,813   +   1,196            0           0       21,250      25,843

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.



4. Statement of Condition of Each Federal Reserve Bank on   October 20, 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                      11,039        494      4,649        382        452        819        894        924        325        218        302        525      1,055
Special drawing rights certificate acct.       2,200        115        874         83        104        147        166        212         71         30         66         98        234
Coin                                             758         16         44         47         44         71         86        101         48         22         47        121        110
Securities, repurchase agreements,
      and loans                              724,242     33,006    325,999     20,912     30,031     53,417     47,410     63,348     20,659     15,384     18,493     32,047     63,535
   Securities held outright                  702,813     33,002    304,749     20,903     30,031     53,417     47,396     63,308     20,648     15,329     18,469     32,045     63,515
      U.S. Treasury (1)                      702,813     33,002    304,749     20,903     30,031     53,417     47,396     63,308     20,648     15,329     18,469     32,045     63,515
         Bills (2)                           259,078     12,166    112,340      7,706     11,070     19,691     17,472     23,337      7,611      5,651      6,808     11,813     23,414
         Notes and bonds(3)                  443,736     20,837    192,410     13,198     18,961     33,726     29,924     39,971     13,037      9,678     11,661     20,232     40,102
         Federal agency (2)                        0          0          0          0          0          0          0          0          0          0          0          0          0
      Repurchase agreements(4)                21,250          0     21,250          0          0          0          0          0          0          0          0          0          0
      Loans                                      179          4          0          8          0          0         14         40         12         55         24          3         20
Items in process of collection                 8,551        428        784        452        791        410        558        650        756        501        693        301      2,227
Bank premises                                  1,735         98        191         52        154        144        278        145         60        123         78        230        180
Other assets(5)                               38,894      1,769     14,009      1,085      2,398      6,090      2,225      3,518      1,024      1,149        805        995      3,826
Interdistrict settlement account                   0    + 2,867    -30,531    + 4,018    -    46    + 1,601    + 9,595    -   702    + 1,208    -   638    + 1,782    + 2,695    + 8,153
          Total Assets                       787,418     38,794    316,020     27,030     33,929     62,699     61,211     68,196     24,152     16,790     22,266     37,012     79,320

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.




4. Statement of Condition of Each Federal Reserve Bank on   October 20, 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

Liabilities                         
Federal Reserve notes outstanding             832,939     37,831    321,316     33,235     34,812     65,028     73,342     70,001     25,312     16,077     24,615     42,155     89,214
  Less: notes held by F.R. Banks              126,220      4,269     32,843      8,908      5,624     12,080     17,446      8,786      3,306      1,547      4,659      7,781     18,972
    Federal Reserve notes, net                706,719     33,562    288,473     24,327     29,189     52,948     55,896     61,215     22,006     14,531     19,956     34,374     70,242
Reverse repurchase agreements (1)              25,843      1,214     11,206        769      1,104      1,964      1,743      2,328        759        564        679      1,178      2,336
Deposits                                       23,503      1,021     10,057        675      1,121      2,731      1,441      1,794        589        413        757        713      2,191
  Depository institutions                      18,343      1,016      5,049        674      1,117      2,607      1,437      1,790        586        412        755        712      2,187
  U.S. Treasury, general account                4,785          0      4,785          0          0          0          0          0          0          0          0          0          0
  Foreign official                                 76          2         53          1          2          7          2          3          1          1          1          0          4
  Other                                           299          3        170          0          1        118          2          1          2          0          1          0          0
Deferred availability cash items                7,588        532        753        548        796        441        822        461        177        558        443        322      1,733
Other liabilities and accrued                 
  dividends (2)                                 2,797        170        909        107        141        293        233        261        116         91        100        142        234
   
    Total liabilities                         766,450     36,498    311,398     26,426     32,351     58,378     60,135     66,059     23,647     16,157     21,935     36,729     76,736
                              
Capital                    
Capital paid in                                10,523      1,634      2,164        292        762      2,095        518      1,027        240        263        149        130      1,248
Surplus                                         8,847        448      2,031        259        727      2,074        489        924        228        346        162        111      1,048
Other capital                                   1,598        213        426         53         88        152         70        186         37         25         19         42        287
     Total liabilities and capital            787,418     38,794    316,020     27,030     33,929     62,699     61,211     68,196     24,152     16,790     22,266     37,012     79,320
                              

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



Federal Reserve notes and collateral        Wednesday
                                          Oct 20, 2004
              
Federal Reserve notes outstanding             832,939
   Less: Notes held by F.R. Banks
         not subject to collateralization     126,220
      Federal Reserve Notes to be
         collateralized                       706,719 
Collateral held against Federal Reserve            
   notes                                      706,719
   Gold certificate account                    11,039
   Special drawing rights                 
     certificate account                        2,200
   U.S. Treasury and agency securities   
     pledged (1)                              693,480
   Other assets pledged                             0

Memo:
Total U.S. Treasury and agency 
       securities (1)                         724,063
   Less:face value of securities under
         reverse repurchase agreements         25,856
      U.S. Treasury and agency securities
             eligible to be pledged           698,207
   

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.