Reserve Bank credit, related items, and

reserve balances of depository institutions

at Federal Reserve Banks

Reserve Bank credit 732,240 + 4,057 + 37,766 732,359

Securities held outright 667,262 + 233 + 37,847 667,292

U.S. Treasury1 667,262 + 233 + 37,857 667,292

Bills2 245,473 + 242 + 18,791 245,505

Notes and bonds, nominal2 406,173 0 + 16,954 406,173

Notes and bonds, inflation-indexed2 13,994 0 + 1,752 13,994

Inflation compensation3 1,622 - 8 + 361 1,620

Federal agency2 0 0 - 10 0

Repurchase agreements4 23,214 + 4,071 - 1,179 23,250

Loans to depository institutions 23 - 174 + 8 23

Primary credit 10 - 174 - 1 13

Secondary credit 0 0 0 0

Seasonal credit 13 - 1 + 9 10

Float 335 - 190 - 242 298

Other Federal Reserve assets 41,406 + 117 + 1,332 41,496

Gold stock 11,043 0 0 11,043

Special drawing rights certificate account 2,200 0 0 2,200

Treasury currency outstanding5 35,545 + 14 + 948 35,545

Total factors supplying reserve funds 781,028 + 4,071 + 38,714 781,147

Currency in circulation5 710,138 + 661 + 34,360 712,636

Reverse repurchase agreements6 20,581 + 356 + 2,098 20,426

Foreign official and international accounts 20,581 + 356 + 2,098 20,426

Dealers 0 0 0 0

Treasury cash holdings 356 + 11 - 4 355

Deposits with F.R. Banks, other than reserve balances 16,348 - 330 - 108 17,169

U.S. Treasury, general account 4,901 - 252 - 491 5,728

Foreign official 83 + 1 - 25 80

Service-related 10,944 - 102 + 220 10,944

Required clearing balances 10,614 - 5 + 259 10,614

Adjustments to compensate for float 330 - 97 - 38 330

Other 421 + 25 + 189 418

Other liabilities and capital 20,385 - 205 + 872 20,226

Total factors, other than reserve balances,

absorbing reserve funds 767,808 + 494 + 37,218 770,812

Reserve balances with Federal Reserve Banks 13,220 + 3,577 + 1,496 10,335

Memo (off-balance-sheet items):

Marketable securities held in custody for foreign

 official and international accounts2,7 1,116,950 + 4,434 + 251,584 1,121,982

U.S. Treasury 889,468 + 5,104 + 193,468 894,193

Federal agency 227,481 - 671 + 58,114 227,789

Securities lent to dealers 349 - 234 - 59 581

FEDERAL RESERVE statistical release

 February 5, 2004

H.4.1

Factors Affecting Reserve Balances of Depository Institutions and

Condition Statement of Federal Reserve Banks

1. Factors Affecting Reserve Balances of Depository Institutions

Millions of dollars

Averages of daily figures

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.

Change from week ended Wednesday

 Feb 4, 2004 Week ended

 Feb 4, 2004 Jan 28, 2004 Feb 5, 2003
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.

Assets

Gold certificate account 11,038 - 1 - 1

Special drawing rights certificate account 2,200 0 0

Coin 858 + 45 - 276

Securities, repurchase agreements, and loans 690,565 + 480 + 33,388

Securities held outright 667,292 + 232 + 37,881

U.S. Treasury1 667,292 + 232 + 37,891

Bills2 245,505 + 239 + 18,823

Notes and bonds, nominal2 406,173 0 + 16,954

Notes and bonds, inflation-indexed2 13,994 0 + 1,752

Inflation compensation3 1,620 - 6 + 363

Federal agency2 0 0 - 10

Repurchase agreements4 23,250 + 250 - 4,500

Loans 23 - 2 + 8

Items in process of collection (1,292) 8,881 - 1,691 - 78

Bank premises 1,644 0 + 105

Other assets5 39,855 + 46 + 1,244

Total assets (1,292) 755,041 - 1,120 + 34,382

Liabilities

Federal Reserve notes, net of F.R. Bank holdings 678,300 + 2,035 + 33,420

Reverse repurchase agreements6 20,426 - 268 + 2,440

Deposits ( 0 ) 27,507 - 3,528 - 2,307

Depository institutions 21,282 - 4,047 - 2,474

U.S. Treasury, general account 5,728 + 481 + 64

Foreign official 80 - 2 - 68

Other ( 0 ) 418 + 40 + 172

Deferred availability cash items (1,292) 8,582 + 935 - 122

Other liabilities and accrued dividends7 2,210 - 76 - 21

Total liabilities (1,292) 737,025 - 902 + 33,409

Capital accounts

Capital paid in 8,889 + 3 + 485

Surplus 8,847 0 + 467

Other capital accounts 280 - 222 + 20

Total capital 18,016 - 219 + 973

H.4.1

2. Consolidated Statement of Condition of All Federal Reserve Banks

Millions of dollars

Change since

Wednesday

 Feb 5, 2003

Eliminations from

consolidation Wednesday

 Feb 4, 2004

Wednesday

 Jan 28, 2004

3. Maturity Distribution of Loans and Securities, February 4, 2004

Millions of dollars

 Federal agency

securities

Weekly

changes Holdings

 U.S. Treasury

securities1

Holdings Weekly

changes

Loans Repurchase

agreements2

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.

Reverse

repurchase

agreements2

Within 15 days 11 50,388 - 3,128 0 0 23,250 20,426

16 days to 90 days 11 148,245 + 5,119 0 0 0 0

91 days to 1 year 0 162,763 - 567 0 0 . . . . . . 

Over 1 year to 5 years . . . 181,106 - 1,189 0 0 . . . . . . 

Over 5 years to 10 years . . . 47,660 - 1 0 0 . . . . . . 

Over 10 years . . . 77,129 - 2 0 0 . . . . . . 

All 23 667,292 + 232 0 0 23,250 20,426

Assets, liabilities, and capital

Maturity
H.4.1

4. Statement of Condition of Each Federal Reserve Bank on February 4, 2004Millions of dollars

Total Boston Cleveland Richmond Atlanta Chicago St. Louis New York Philadelphia Minneap

AssetsGold certificate accountSpecial drawing rights certificate acct.CoinSecurities, repurchase agreements,

and loans

Securities held outright

U.S. Treasury1

Bills2Notes and bonds3

Federal agency2

Repurchase agreements4Loans

Items in process of collectionBank premisesOther assets5Interdistrict settlement account

Total assets

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 sec

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.

 11,038 2,200 858 690,565 667,292 667,292 245,505 421,788 0 23,250 23 10,173 1,644 39,855 0 756,333

Assets, liabilities, and capital

 4,705 874 34 308,739 285,489 285,489 105,035 180,454 0 23,250 0 902 189 14,312 - 8,438 321,317

 495 115 31 32,261 32,261 32,261 11,869 20,392 0 0 0 538 94 1,835 + 2,355 37,723

 380 83 44 20,862 20,862 20,862 7,675 13,187 0 0 0 472 52 1,177 + 139 23,210

 477 104 44 31,268 31,268 31,268 11,504 19,764 0 0 0 726 151 2,492 - 2,498 32,763

 808 147 87 51,317 51,317 51,317 18,880 32,437 0 0 0 671 145 6,175 + 545 59,896

 863 166 100 45,080 45,080 45,080 16,585 28,494 0 0 0 1,037 278 2,298 + 1,236 51,057

 982 212 118 67,437 67,430 67,430 24,808 42,622 0 0 7 719 125 3,779 - 6,787 66,585

 331 71 65 20,994 20,994 20,994 7,724 13,270 0 0 0 436 48 1,076 - 1,202 21,819

 2   14,9 14,8 14,8 5,4 9,4    4 1 1,1 - 4 16,4
 798,664

 120,364 678,300 678,300 11,038 2,200 665,061 0 690,542 20,430 670,112

Total Boston Cleveland Richmond Atlanta Chicago St. Louis New York Philadelphia Minneap

LiabilitiesFederal Reserve notes outstanding

Less: notes held by F.R. Banks

Federal Reserve notes, net

Reverse repurchase agreements1

Deposits

Depository institutionsU.S. Treasury, general accountForeign officialOther

Deferred availability cash itemsOther liabilities and accrued

dividends2

Total liabilities

CapitalCapital paid inSurplusOther capital

Total liabilities and capital

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.

 798,664 120,364 678,300 20,426 27,507 21,282 5,728 80 418 9,874 2,210 738,317 8,889 8,847 280 756,333

 39,139 5,465 33,674 987 1,323 1,312 0 2 10 708 122 36,815 448 448 11 37,723

 324,691 28,848 295,843 8,739 10,558 4,608 5,728 57 165 1,226 738 317,104 2,041 2,031 141 321,317

 29,249 8,718 20,531 639 905 904 0 1 0 494 89 22,658 272 259 22 23,210

 32,874 4,920 27,954 957 1,799 1,796 0 2 1 480 115 31,306 721 727 9 32,763

 60,050 9,710 50,341 1,571 2,857 2,613 0 7 236 731 226 55,725 2,083 2,074 13 59,896

 64,947 19,303 45,644 1,380 1,768 1,767 0 2 0 1,093 176 50,061 490 489 17 51,057

 67,123 8,280 58,842 2,064 2,723 2,718 0 3 2 851 215 64,695 932 924 33 66,585

 23,444 3,806 19,638 643 667 665 0 1 1 309 101 21,357 227 228 7 21,819

 15,6 1,6 14,0 4 7 7    4  15,7 3 3  16,4

H.4.1

4. Statement of Condition of Each Federal Reserve Bank on February 4, 2004 (continued)Millions of dollars

Assets, liabilities, and capital

Federal Reserve notes outstanding

Less: Notes held by F.R. Banks

not subject to collateralization

Federal Reserve notes to be collateralized

Collateral held against Federal Reserve notes

Gold certificate accountSpecial drawing rights certificate accountU.S. Treasury and agency securities pledged1Other assets pledged

Memo:Total U.S. Treasury and agency securities1

Less: face value of securities under

reverse repurchase agreements

U.S. Treasury and agency securities

eligible to be pledged

5. Collateral Held against Federal Reserve Notes:Federal Reserve Agents' AccountsMillions of dollarsFederal Reserve notes and collateral Wednesday

 Feb 4, 2004

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 ofinflation-indexed securities, and cash value of repurchase agreements.