FEDERAL RESERVE Statistical Release

H.4.1
Factors Affecting Reserve Balances of Depository Institutions and
Condition Statement of Federal Reserve Banks
                                                                                           November 6, 2003
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            Nov 5, 2003 Oct 29, 2003  Nov 6, 2002  Nov 5, 2003
Federal Reserve Banks

Reserve Bank Credit                                         725,126    -   1,707    +  64,561      722,578
 Securities held outright                                   658,813    +     847    +  50,151      658,885       
    U.S. Treasury (1)                                       658,803    +     847    +  50,151      658,875
       Bills (2)                                            242,433    +     272    +  35,809      242,500
       Notes and bonds, nominal (2)                         401,322    +     563    +  12,756      401,322
       Notes and bonds, inflation-indexed (2)                13,454            0    +   1,212       13,454
       Inflation compensation (3)                             1,593    +      11    +     374        1,599
    Federal agency (2)                                           10            0            0           10      
 Repurchase agreements(4)                                    24,000    -   4,071    +  11,964       19,000
 Loans to depository institutions                               135    +      45    -     288           49
    Primary credit                                               82    +      63    +      82            4
    Secondary credit                                              0            0            0            0
    Seasonal credit                                              53    -      18    -      14           45
    Adjustment credit                                             0            0    -     355            0
 Float                                                        1,491    +   1,608    +   1,455        3,979
 Other Federal Reserve assets                                40,687    -     136    +   1,279       40,664
Gold stock                                                   11,043            0    +       1       11,043
Special drawing rights certificate account                    2,200            0            0        2,200
Treasury currency outstanding (5)                            35,363    +      14    +     978       35,363
       
Total factors supplying reserve funds                       773,732    -   1,694    +  65,540      771,184
                                                                   
Currency in circulation(5)                                  703,289    +   1,240    +  39,341      705,008
Reverse repurchase agreements (6)                            19,888    +     714    +  19,888       21,001
   Foreign official and international accounts               18,924    -     250    +  18,924       18,251
   Dealers                                                      964    +     964    +     964        2,750
Treasury cash holdings                                          389    -      10    -       6          379
Deposits with F.R.Banks, other than reserve balances         17,892    +     972    +   1,769       17,118       
  U.S. Treasury, general account                              5,680    +     555    +     342        4,615
  Foreign official                                              196    +     115    +      80          458
  Service-related                                            11,724    +     292    +   1,301       11,724
     Required clearing balances                              11,423    +      83    +   1,367       11,423
     Adjustments to compensate for float                        301    +     209    -      67          301
  Other                                                         293    +      10    +      48          320
Other liabilities and capital                                20,025    -     481    +     170       19,841

Total factors, other than reserve balances,                                        
   absorbing reserve funds                                  761,483    +   2,435    +  61,161      763,347

Reserve balances with Federal Reserve Banks                  12,249    -   4,129    +   4,379        7,837
                                                                

Memo (off-balance-sheet items):
  Marketable securities held in custody for foreign
         official and international accounts(2,7)         1,001,954    +   6,334     ------      1,003,271
     U.S. Treasury                                          799,027    +   4,372     ------        798,608
     Federal agency                                         202,927    +   1,962     ------        204,663
  Securities lent to dealers                                  1,560    +     485    -     576        1,778   


Note: Components may not sum to totals because of rounding.
---   Not available.

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  Nov 5, 2003     Oct 29, 2003      Nov 6, 2002

Assets
Gold certificate account                                        11,039                0        +       1
Special drawing rights certificate account                       2,200                0                0
Coin                                                               829        +       3        -     250
Securities, repurchase agreements, and loans                   677,934        -   8,830        +  59,086
   Securities held outright                                    658,885        +     203        +  50,105
      U.S. Treasury (1)                                        658,875        +     203        +  50,105       
         Bills (2)                                             242,500        +     192        +  35,761
         Notes and bonds, nominal (2)                          401,322                0        +  12,756
         Notes and bonds, inflation-indexed (2)                 13,454                0        +   1,212
         Inflation compensation (3)                              1,599        +      12        +     377
      Federal agency (2)                                            10                0                0
   Repurchase agreements (4)                                    19,000        -   9,000        +   9,000    
   Loans                                                            49        -      33        -      20
Items in process of collection                    (1,255)       12,400        +   5,957        +   3,115
Bank premises                                                    1,598        +       2        +      69
Other assets (5)                                                39,015        -     274        +     898
      Total assets                                (1,255)      745,015        -   3,143        +  62,918
                          
Liabilities
Federal Reserve notes net of FR Bank holdings                  670,849        +   1,482        +  37,534
Reverse repurchase agreements (6)                               21,001        +   1,715        +  21,001
Deposits                                              (0)       24,960        -   7,641        +   4,169       
  Depository institutions                                       19,567        -   6,993        +   3,898
  U.S. Treasury, general account                                 4,615        -   1,057        -     192
  Foreign official                                                 458        +     373        +     386
  Other                                               (0)          320        +      37        +      77
Deferred availability cash items                  (1,255)        8,364        +   1,565        -      56
Other liabilities and accrued dividends (7)                      2,277        -      26        -     162
      Total liabilities                           (1,255)      727,451        -   2,904        +  62,486
                          
Capital Accounts
Capital paid in                                                  8,754        +      12        +     474
Surplus                                                          8,335        -      45        +   1,023
Other capital accounts                                             475        -     206        -   1,065
      Total capital                                             17,564        -     239        +     432


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,   November 5, 2003
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               7       48,825   -     257            0           0       19,000       21,001
16 days to 90 days          42      144,738   +     314           10           0            0            0
91 days to 1 year            0      156,936   -     797            0           0     ------      ------
Over 1 to 5 years     ------        179,300   +     936            0           0     ------      ------
Over 5 to 10 years    ------         51,962   +       4            0           0     ------      ------
Over 10 years         ------         77,114   +       4            0           0     ------      ------
                   		 	
All                         49      658,875   +     203           10           0       19,000      21,001

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   November 5, 2003
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        495      4,706        380        477        808        863        982        331        224        303        507        963
Special drawing rights certificate acct.       2,200        115        874         83        104        147        166        212         71         30         66         98        234
Coin                                             829         28         34         44         37         99        102         99         58         24         48        147        109
Securities, repurchase agreements,
      and loans                              677,934     31,854    300,893     20,599     30,874     50,670     44,512     66,591     20,733     14,725     17,724     25,821     52,938
   Securities held outright                  658,885     31,854    281,892     20,599     30,874     50,670     44,512     66,581     20,729     14,707     17,707     25,821     52,938
      U.S. Treasury (1)                      658,875     31,854    281,888     20,599     30,873     50,670     44,511     66,580     20,729     14,707     17,707     25,821     52,937
         Bills (2)                           242,500     11,724    103,749      7,582     11,363     18,649     16,382     24,505      7,629      5,413      6,517      9,503     19,483
         Notes and bonds(3)                  416,375     20,130    178,139     13,018     19,510     32,021     28,129     42,075     13,100      9,294     11,190     16,318     33,453
         Federal agency (2)                       10          0          4          0          0          1          1          1          0          0          0          0          1
      Repurchase agreements(4)                19,000          0     19,000          0          0          0          0          0          0          0          0          0          0
      Loans                                       49          0          1          0          0          0          0         10          3         18         17          0          0
Items in process of collection                13,655        661      1,713        724        804        809      1,093      1,546        478        617      1,056        600      3,554
Bank premises                                  1,598         91        190         52        150        144        277        121         43        125         55        174        176
Other assets(5)                               39,015      1,805     14,084      1,083      2,427      6,129      2,272      3,642      1,012      1,162        930      1,125      3,346
Interdistrict settlement account                   0    +   482    + 5,176    - 1,287    - 3,589    -   935    + 2,060    - 8,679    - 1,716    -   254    - 1,161    + 3,710    + 6,194
          Total Assets                       746,270     35,532    327,670     21,678     31,283     57,871     51,345     64,513     21,010     16,653     19,021     32,181     67,512

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   November 5, 2003
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             790,112     37,014    326,470     27,593     32,730     59,231     65,218     67,054     23,332     15,712     21,421     37,390     76,949
  Less: notes held by F.R. Banks              119,264      5,634     23,408      8,534      5,643     10,192     19,345     10,068      4,469      1,519      4,628      7,861     17,965
    Federal Reserve notes, net                670,849     31,380    303,062     19,059     27,087     49,039     45,873     56,986     18,863     14,192     16,793     29,529     58,985
Reverse repurchase agreements (1)              21,001      1,015      8,985        657        984      1,615      1,419      2,122        661        469        564        823      1,687
Deposits                                       24,960      1,477      9,687        950      1,260      2,278      1,972      2,527        677        450        659        876      2,149
  Depository institutions                      19,567      1,475      4,471        949      1,257      2,124      1,969      2,523        673        449        657        875      2,145
  U.S. Treasury, general account                4,615          0      4,615          0          0          0          0          0          0          0          0          0          0
  Foreign official                                458          2        435          1          3          7          2          3          1          1          1          1          3
  Other                                           320          1        166          0          0        146          1          0          3          0          1          1          0
Deferred availability cash items                9,619        637      1,128        402        420        595        941        812        245        764        522        466      2,685
Other liabilities and accrued                 
  dividends (2)                                 2,277        126        703         94        125        248        182        233        103         84         85        115        178
   
    Total liabilities                         728,706     34,636    323,565     21,161     29,877     53,776     50,386     62,680     20,548     15,960     18,624     31,810     65,683
                              
Capital                    
Capital paid in                                 8,754        448      2,002        259        705      2,066        479        918        231        348        196        184        918
Surplus                                         8,335        436      1,809        233        702      2,029        475        858        199        340        201        186        868
Other capital                                     475         12        294         25          0          0          5         58         31          6          0          1         43
     Total liabilities and capital            746,270     35,532    327,670     21,678     31,283     57,871     51,345     64,513     21,010     16,653     19,021     32,181     67,512
                              

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
                                           Nov 5, 2003
              
Federal Reserve notes outstanding             790,112
   Less: Notes held by F.R. Banks
         not subject to collateralization     119,264
      Federal Reserve Notes to be
         collateralized                       670,849 
Collateral held against Federal Reserve            
   notes                                      670,849
   Gold certificate account                    11,039
   Special drawing rights                 
     certificate account                        2,200
   U.S. Treasury and agency securities   
     pledged (1)                              656,854
   Other assets pledged                           756

Memo:
Total U.S. Treasury and agency 
       securities (1)                         677,885
   Less:face value of securities under
         reverse repurchase agreements         21,031
      U.S. Treasury and agency securities
             eligible to be pledged           656,854
   

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.