Reserve Bank credit, related items, and

reserve balances of depository institutions

at Federal Reserve Banks

Reserve Bank credit 713,408 - 3,314 + 57,913 718,092

Securities held outright 652,843 + 79 + 52,691 652,866

U.S. Treasury1 652,833 + 79 + 52,691 652,856

Bills2 239,701 + 85 + 37,045 239,726

Notes and bonds, nominal2 398,853 0 + 14,760 398,853

Notes and bonds, inflation-indexed2 12,814 0 + 572 12,814

Inflation compensation3 1,465 - 5 + 314 1,463

Federal agency2 10 0 0 10

Repurchase agreements4 20,857 - 3,393 + 5,428 26,250

Loans to depository institutions 126 + 7 - 77 141

Primary credit 1 - 3 + 1 5

Secondary credit 0 0 0 0

Seasonal credit 125 + 10 - 55 137

Adjustment credit 0 0 - 23 0

Float -450 - 495 + 39 -1,160

Other Federal Reserve assets 40,032 + 487 - 168 39,995

Gold stock 11,044 0 0 11,043

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

Treasury currency outstanding5 35,088 + 14 + 1,093 35,088

Total factors supplying reserve funds 761,739 - 3,301 + 59,005 766,423

Currency in circulation5 692,525 - 155 + 32,935 694,545

Reverse repurchase agreements6 19,916 + 239 + 19,916 19,316

Foreign official and international accounts 19,916 + 239 + 19,916 19,316

Dealers 0 0 0 0

Treasury cash holdings 343 + 13 - 38 364

Deposits with F.R. Banks, other than reserve balances 18,006 - 90 + 1,696 18,563

U.S. Treasury, general account 6,205 + 138 + 426 6,174

Foreign official 259 + 135 + 165 852

Service-related 11,291 - 108 + 1,071 11,291

Required clearing balances 10,897 + 35 + 936 10,898

Adjustments to compensate for float 394 - 144 + 135 394

Other 251 - 255 + 35 246

Other liabilities and capital 20,228 + 228 + 1,027 19,745

Total factors, other than reserve balances,

absorbing reserve funds 751,018 + 234 + 55,537 752,533

Reserve balances with Federal Reserve Banks 10,722 - 3,534 + 3,469 13,891

Memo (off-balance-sheet items):

Marketable securities held in custody for foreign

 official and international accounts2,7 931,754 - 5,239 . . . 930,019

U.S. Treasury 748,110 - 5,634 . . . 746,813

Federal agency 183,644 + 395 . . . 183,207

Securities lent to dealers 2,056 + 755 - 147 2,534

FEDERAL RESERVE statistical release

 July 31, 2003

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.

. . . 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.

Change from week ended Wednesday

 Jul 30, 2003 Week ended

 Jul 30, 2003 Jul 23, 2003 Jul 31, 2002
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 11,039 0 + 1

Special drawing rights certificate account 2,200 0 0

Coin 869 - 3 - 78

Securities, repurchase agreements, and loans 679,257 - 5,699 + 59,106

Securities held outright 652,866 + 29 + 52,401

U.S. Treasury1 652,856 + 29 + 52,401

Bills2 239,726 + 34 + 36,757

Notes and bonds, nominal2 398,853 0 + 14,760

Notes and bonds, inflation-indexed2 12,814 0 + 572

Inflation compensation3 1,463 - 5 + 312

Federal agency2 10 0 0

Repurchase agreements4 26,250 - 5,750 + 6,750

Loans 141 + 23 - 45

Items in process of collection (1,264) 7,843 + 163 + 1,345

Bank premises 1,586 - 2 + 67

Other assets5 38,377 + 161 + 184

Total assets (1,264) 741,172 - 5,378 + 60,626

Liabilities

Federal Reserve notes, net of F.R. Bank holdings 660,686 + 961 + 32,218

Reverse repurchase agreements6 19,316 - 356 + 19,316

Deposits ( 0 ) 33,151 - 6,301 + 7,326

Depository institutions 25,879 - 6,958 + 6,696

U.S. Treasury, general account 6,174 + 116 - 68

Foreign official 852 + 718 + 688

Other ( 0 ) 246 - 177 + 10

Deferred availability cash items (1,264) 8,275 + 658 + 962

Other liabilities and accrued dividends7 2,151 + 13 - 212

Total liabilities (1,264) 723,578 - 5,025 + 59,609

Capital accounts

Capital paid in 8,719 + 5 + 453

Surplus 8,363 - 17 + 1,051

Other capital accounts 513 - 339 - 486

Total capital 17,594 - 353 + 1,017

H.4.1

2. Consolidated Statement of Condition of All Federal Reserve Banks

Millions of dollars

Change since

Wednesday

 Jul 31, 2002

Eliminations from

consolidation Wednesday

 Jul 30, 2003

Wednesday

 Jul 23, 2003

3. Maturity Distribution of Loans and Securities, July 30, 2003

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 116 46,048 - 112 0 0 24,250 19,316

16 days to 90 days 25 141,180 + 258 0 0 2,000 0

91 days to 1 year 0 159,660 - 113 10 0 . . . . . . 

Over 1 year to 5 years . . . 179,349 - 1 0 0 . . . . . . 

Over 5 years to 10 years . . . 46,654 - 2 0 0 . . . . . . 

Over 10 years . . . 79,965 - 2 0 0 . . . . . . 

All 141 652,856 + 29 10 0 26,250 19,316

Assets, liabilities, and capital

Maturity
H.4.1

4. Statement of Condition of Each Federal Reserve Bank on July 30, 2003Millions 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.

 11,039 2,200 869 679,257 652,866 652,856 239,726 413,130 10 26,250 141 9,107 1,586 38,377 0 742,436

Assets, liabilities, and capital

 4,706 874 30 305,568 279,317 279,313 102,562 176,750 4 26,250 1 687 186 13,944 +13,674 339,669

 495 115 35 31,563 31,563 31,563 11,590 19,973 0 0 0 694 91 1,775 - 4,549 30,219

 380 83 46 20,411 20,411 20,411 7,495 12,916 0 0 0 391 52 1,132 - 875 21,622

 477 104 38 30,592 30,592 30,591 11,233 19,358 0 0 0 425 152 2,361 - 3,738 30,410

 808 147 109 50,207 50,207 50,207 18,436 31,771 1 0 0 699 142 5,933 - 232 57,813

 863 166 115 44,120 44,105 44,104 16,195 27,909 1 0 15 770 279 2,240 - 557 47,995

 982 212 108 65,999 65,972 65,971 24,224 41,747 1 0 26 626 119 3,568 - 6,461 65,152

 331 71 53 20,565 20,540 20,540 7,542 12,998 0 0 25 413 43 994 - 1,299 21,171

 2   14,6 14,5 14,5 5,3 9,2    5 1 1,1 - 7 16,0
 774,095

 108,713 665,381 665,381 11,039 2,200 652,142 0 679,116 19,321 659,795

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.

 774,095 113,409 660,686 19,316 33,151 25,879 6,174 852 246 9,539 2,151 724,842 8,719 8,363 513 742,436

 31,577 5,094 26,482 934 1,014 1,012 0 2 1 766 124 29,321 446 436 16 30,219

 332,601 22,721 309,880 8,264 15,980 8,824 6,174 829 153 846 672 335,641 1,952 1,809 268 339,669

 25,402 7,933 17,469 604 2,376 2,375 0 1 0 571 90 21,110 252 233 26 21,622

 31,159 4,971 26,187 905 1,159 1,156 0 3 1 636 115 29,003 707 701 0 30,410

 58,324 9,894 48,430 1,485 2,909 2,817 0 7 85 614 227 53,665 2,091 2,057 0 57,813

 63,604 20,866 42,738 1,305 1,833 1,831 0 2 0 976 178 47,030 477 475 13 47,995

 66,433 9,070 57,364 1,952 3,051 3,048 0 3 1 733 209 63,309 914 858 71 65,152

 23,460 4,403 19,057 608 686 684 0 1 1 265 99 20,714 228 199 30 21,171

 15,0 1,3 13,7 4 5 5    5  15,3 3 3  16,0

H.4.1

4. Statement of Condition of Each Federal Reserve Bank on July 30, 2003 (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 eligible assets

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

 Jul 30, 2003

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.