FEDERAL RESERVE Statistical Release

H.4.1
Factors Affecting Reserve Balances of Depository Institutions and
Condition Statement of Federal Reserve Banks
                                                                                              June 10, 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            Jun 9, 2004  Jun 2, 2004 Jun 11, 2003  Jun 9, 2004
Federal Reserve Banks

Reserve Bank Credit                                         746,417    -   3,190    +  33,209      752,783
 Securities held outright                                   683,066    +   1,598    +  31,481      683,932       
    U.S. Treasury (1)                                       683,066    +   1,598    +  31,491      683,932
       Bills (2)                                            251,904    +   1,442    +  13,504      251,908
       Notes and bonds, nominal (2)                         414,802    +     143    +  15,949      415,659
       Notes and bonds, inflation-indexed (2)                14,464            0    +   1,650       14,464
       Inflation compensation (3)                             1,895    +      12    +     387        1,900
    Federal agency (2)                                            0            0    -      10            0      
 Repurchase agreements(4)                                    24,821    -   4,929    +   1,535       30,250
 Loans to depository institutions                               158    +      31    +      96          157
    Primary credit                                               32    +      24    +      30           32
    Secondary credit                                              0            0            0            0
    Seasonal credit                                             126    +       7    +      65          125
 Float                                                          -98    -      27    +       2         -135
 Other Federal Reserve assets                                38,470    +     137    +      95       38,579
Gold stock                                                   11,045            0    +       1       11,045
Special drawing rights certificate account                    2,200            0            0        2,200
Treasury currency outstanding (5)                            35,797    +      14    +     799       35,797
       
Total factors supplying reserve funds                       795,459    -   3,176    +  34,009      801,825
                                                                   
Currency in circulation(5)                                  726,198    -     223    +  34,008      726,682
Reverse repurchase agreements (6)                            20,304    -      94    -     512       19,942
   Foreign official and international accounts               20,304    -      94    -     512       19,942
   Dealers                                                        0            0            0            0
Treasury cash holdings                                          323    +       3    -      62          326
Deposits with F.R.Banks, other than reserve balances         15,221    +     599    -   2,552       15,696       
  U.S. Treasury, general account                              4,698    +     606    -   1,817        5,215
  Foreign official                                               92    -      11    -      47           85
  Service-related                                            10,149    -       1    -     729       10,149
     Required clearing balances                              10,149    -       1    -     683       10,149
     Adjustments to compensate for float                          0            0    -      45            0
  Other                                                         282    +       5    +      41          247
Other liabilities and capital                                21,585    -      75    +   1,395       21,218

Total factors, other than reserve balances,                                        
   absorbing reserve funds                                  783,631    +     210    +  32,277      783,864

Reserve balances with Federal Reserve Banks                  11,828    -   3,385    +   1,732       17,961
                                                                

Memo (off-balance-sheet items):
  Marketable securities held in custody for foreign
         official and international accounts(2,7)         1,228,148    +   7,424    + 292,682    1,230,805
     U.S. Treasury                                          993,491    +   8,639    + 246,900      997,535
     Federal agency                                         234,656    -   1,216    +  45,781      233,269
  Securities lent to dealers                                  1,539    -   1,212    +     772        1,544   


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  Jun 9, 2004      Jun 2, 2004     Jun 11, 2003

Assets
Gold certificate account                                        11,041                0        +       1
Special drawing rights certificate account                       2,200                0                0
Coin                                                               726        +       8        -     200
Securities, repurchase agreements, and loans                   714,339        +  10,194        +  30,162
   Securities held outright                                    683,932        +   2,449        +  32,319
      U.S. Treasury (1)                                        683,932        +   2,449        +  32,329       
         Bills (2)                                             251,908        +   1,436        +  13,478
         Notes and bonds, nominal (2)                          415,659        +   1,000        +  16,806
         Notes and bonds, inflation-indexed (2)                 14,464                0        +   1,650
         Inflation compensation (3)                              1,900        +      12        +     395
      Federal agency (2)                                             0                0        -      10
   Repurchase agreements (4)                                    30,250        +   7,750        -   2,250    
   Loans                                                           157        -       5        +      92
Items in process of collection                      (936)        6,349        -   2,365        -     882
Bank premises                                                    1,685        +       2        +     106
Other assets (5)                                                36,831        +     290        -     179
      Total assets                                  (936)      773,171        +   8,129        +  29,007
                          
Liabilities
Federal Reserve notes net of FR Bank holdings                  691,932        -   1,419        +  32,546
Reverse repurchase agreements (6)                               19,942        -     350        -   1,269
Deposits                                              (0)       33,598        +  11,756        -   2,095       
  Depository institutions                                       28,051        +   8,181        -   1,298
  U.S. Treasury, general account                                 5,215        +   3,623        -     816
  Foreign official                                                  85        +       3        +       5
  Other                                               (0)          247        -      51        +      14
Deferred availability cash items                    (936)        6,481        -   1,679        -   1,274
Other liabilities and accrued dividends (7)                      2,475        +      71        +     120
      Total liabilities                             (936)      754,428        +   8,379        +  28,028
                          
Capital Accounts
Capital paid in                                                  9,201        -       3        +     545
Surplus                                                          8,847                0        +     467
Other capital accounts                                             695        -     247        -      33
      Total capital                                             18,743        -     249        +     979


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,       June 9, 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              34       47,092   -     849            0           0       30,250       19,942
16 days to 90 days         123      166,556   +   7,787            0           0            0            0
91 days to 1 year            0      155,813   -   5,502            0           0     ------      ------
Over 1 to 5 years     ------        186,170   +     730            0           0     ------      ------
Over 5 to 10 years    ------         51,577   +     278            0           0     ------      ------
Over 10 years         ------         76,723   +       4            0           0     ------      ------
                   		 	
All                        157      683,932   +   2,449            0           0       30,250      19,942

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       June 9, 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                      11,041        494      4,651        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                                             726         31         25         39         32         69         74         89         53         26         41        147        101
Securities, repurchase agreements,
      and loans                              714,339     32,116    326,812     20,342     29,225     51,982     46,127     61,659     20,109     14,957     17,986     31,186     61,841
   Securities held outright                  683,932     32,116    296,562     20,342     29,225     51,982     46,123     61,608     20,093     14,917     17,973     31,184     61,809
      U.S. Treasury (1)                      683,932     32,116    296,562     20,342     29,225     51,982     46,123     61,608     20,093     14,917     17,973     31,184     61,809
         Bills (2)                           251,908     11,829    109,231      7,492     10,764     19,146     16,988     22,691      7,401      5,494      6,620     11,486     22,766
         Notes and bonds(3)                  432,024     20,287    187,331     12,849     18,460     32,836     29,135     38,916     12,692      9,423     11,353     19,698     39,043
         Federal agency (2)                        0          0          0          0          0          0          0          0          0          0          0          0          0
      Repurchase agreements(4)                30,250          0     30,250          0          0          0          0          0          0          0          0          0          0
      Loans                                      157          0          0          0          0          0          4         52         15         39         13          2         32
Items in process of collection                 7,285        398        360        368        357        391        758        490        420        417        498        451      2,377
Bank premises                                  1,685         96        191         52        154        144        279        132         51        123         75        207        181
Other assets(5)                               36,831      1,668     13,231      1,027      2,274      5,829      2,100      3,323        966      1,098        760        931      3,623
Interdistrict settlement account                   0    + 3,013    -22,102    + 2,929    - 1,556    - 1,744    + 3,223    +   157    +   410    -   407    + 1,448    + 3,861    +10,767
          Total Assets                       774,107     37,931    324,042     25,222     31,042     57,637     53,620     66,986     22,405     16,462     21,175     37,405     80,179

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       June 9, 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             808,410     37,944    319,431     31,054     32,054     58,907     67,142     67,953     23,541     15,610     23,341     41,844     89,589
  Less: notes held by F.R. Banks              116,477      4,098     28,262      8,463      5,453     10,506     18,862      7,400      3,074      1,247      4,211      6,916     17,985
    Federal Reserve notes, net                691,932     33,846    291,169     22,591     26,602     48,401     48,280     60,552     20,467     14,363     19,130     34,928     71,604
Reverse repurchase agreements (1)              19,942        936      8,647        593        852      1,516      1,345      1,796        586        435        524        909      1,802
Deposits                                       33,598      1,450     18,453        914      1,559      2,774      1,921      1,814        542        444        717        813      2,197
  Depository institutions                      28,051      1,443     13,013        913      1,555      2,693      1,920      1,811        540        442        715        811      2,193
  U.S. Treasury, general account                5,215          0      5,215          0          0          0          0          0          0          0          0          0          0
  Foreign official                                 85          2         62          1          2          7          2          3          1          1          1          0          4
  Other                                           247          5        164          0          1         74          0          0          1          0          1          1          0
Deferred availability cash items                7,417        540        617        462        420        527        844        570        228        524        390        352      1,943
Other liabilities and accrued                 
  dividends (2)                                 2,475        136        779         98        130        276        196        236        110         84         91        131        209
   
    Total liabilities                         755,363     36,909    319,664     24,658     29,562     53,493     52,586     64,969     21,933     15,850     20,852     37,132     77,755
                              
Capital                    
Capital paid in                                 9,201        506      2,115        278        732      2,064        509      1,020        232        264        154        128      1,200
Surplus                                         8,847        448      2,031        259        727      2,074        489        924        228        346        162        111      1,048
Other capital                                     695         68        233         27         21          6         37         73         13          3          7         34        175
     Total liabilities and capital            774,107     37,931    324,042     25,222     31,042     57,637     53,620     66,986     22,405     16,462     21,175     37,405     80,179
                              

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
                                           Jun 9, 2004
              
Federal Reserve notes outstanding             808,410
   Less: Notes held by F.R. Banks
         not subject to collateralization     116,477
      Federal Reserve Notes to be
         collateralized                       691,932 
Collateral held against Federal Reserve            
   notes                                      691,932
   Gold certificate account                    11,041
   Special drawing rights                 
     certificate account                        2,200
   U.S. Treasury and agency securities   
     pledged (1)                              678,691
   Other assets pledged                             0

Memo:
Total U.S. Treasury and agency 
       securities (1)                         714,182
   Less:face value of securities under
         reverse repurchase agreements         19,947
      U.S. Treasury and agency securities
             eligible to be pledged           694,235
   

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.