FEDERAL RESERVE Statistical Release

H.4.1
Factors Affecting Reserve Balances of Depository Institutions and
Condition Statement of Federal Reserve Banks
                                                                                           November 4, 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            Nov 3, 2004 Oct 27, 2004  Nov 5, 2003  Nov 3, 2004
Federal Reserve Banks

Reserve Bank Credit                                         773,351    +   2,748    +  48,246      770,798
 Securities held outright                                   707,023    +   1,858    +  48,210      708,130       
    U.S. Treasury (1)                                       707,023    +   1,858    +  48,220      708,130
       Bills (2)                                            259,320    +     203    +  16,887      259,393
       Notes and bonds, nominal (2)                         430,297    +   1,652    +  28,975      431,328
       Notes and bonds, inflation-indexed (2)                15,262            0    +   1,808       15,262
       Inflation compensation (3)                             2,144    +       3    +     551        2,147
    Federal agency (2)                                            0            0    -      10            0      
 Repurchase agreements(4)                                    24,286    +     286    +     286       20,250
 Loans to depository institutions                               115    -      83    -      20           82
    Primary credit                                                8    -      43    -      74            0
    Secondary credit                                              0            0            0            0
    Seasonal credit                                             107    -      40    +      54           81
 Float                                                          328    +     188    -   1,139          669
 Other Federal Reserve assets                                41,599    +     499    +     909       41,667
Gold stock                                                   11,043            0            0       11,043
Special drawing rights certificate account                    2,200            0            0        2,200
Treasury currency outstanding (5)                            36,337    +      14    +   1,024       36,337
       
Total factors supplying reserve funds                       822,932    +   2,763    +  49,270      820,378
                                                                   
Currency in circulation(5)                                  742,528    +   1,840    +  39,289      744,872
Reverse repurchase agreements (6)                            26,844    +     547    +   6,956       26,512
   Foreign official and international accounts               26,844    +     547    +   7,920       26,512
   Dealers                                                        0            0    -     964            0
Treasury cash holdings                                          300    -       1    -      89          303
Deposits with F.R.Banks, other than reserve balances         16,262    +     448    -   1,551       15,996       
  U.S. Treasury, general account                              5,275    +     327    -     405        4,971
  Foreign official                                               85    -       1    -     111           82
  Service-related                                            10,571    +      82    -   1,074       10,571
     Required clearing balances                              10,571    +      83    -     772       10,571
     Adjustments to compensate for float                          0            0    -     301            0
  Other                                                         331    +      40    +      38          372
Other liabilities and capital                                23,879    -     223    +   3,854       23,626

Total factors, other than reserve balances,                                        
   absorbing reserve funds                                  809,814    +   2,612    +  48,461      811,308

Reserve balances with Federal Reserve Banks                  13,118    +     151    +     810        9,070
                                                                

Memo (off-balance-sheet items):
  Marketable securities held in custody for foreign
         official and international accounts(2,7)         1,300,799    +   1,718    + 298,845    1,304,336
     U.S. Treasury                                        1,052,605    +   1,399    + 253,578    1,057,454
     Federal agency                                         248,193    +     319    +  45,266      246,882
  Securities lent to dealers                                    441    -   1,112    -   1,119          775   


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  Nov 3, 2004     Oct 27, 2004      Nov 5, 2003

Assets
Gold certificate account                                        11,039                0                0
Special drawing rights certificate account                       2,200                0                0
Coin                                                               779        +      12        -      50
Securities, repurchase agreements, and loans                   728,462        -   2,158        +  50,528
   Securities held outright                                    708,130        +   1,400        +  49,245
      U.S. Treasury (1)                                        708,130        +   1,400        +  49,255       
         Bills (2)                                             259,393        +     192        +  16,893
         Notes and bonds, nominal (2)                          431,328        +   1,203        +  30,006
         Notes and bonds, inflation-indexed (2)                 15,262                0        +   1,808
         Inflation compensation (3)                              2,147        +       5        +     548
      Federal agency (2)                                             0                0        -      10
   Repurchase agreements (4)                                    20,250        -   3,500        +   1,250    
   Loans                                                            82        -      58        +      33
Items in process of collection                    (1,034)        7,714        +   1,084        -   4,686
Bank premises                                                    1,741        -       7        +     143
Other assets (5)                                                39,969        +     312        +     954
      Total assets                                (1,034)      791,903        -     758        +  46,888
                          
Liabilities
Federal Reserve notes net of FR Bank holdings                  709,612        +   2,461        +  38,763
Reverse repurchase agreements (6)                               26,512        +     751        +   5,511
Deposits                                              (0)       25,109        -   4,836        +     149       
  Depository institutions                                       19,684        -   5,263        +     117
  U.S. Treasury, general account                                 4,971        +     389        +     356
  Foreign official                                                  82        -      31        -     376
  Other                                               (0)          372        +      69        +      52
Deferred availability cash items                  (1,034)        7,045        +     849        -   1,319
Other liabilities and accrued dividends (7)                      2,949        +     100        +     672
      Total liabilities                           (1,034)      771,227        -     675        +  43,776
                          
Capital Accounts
Capital paid in                                                 10,544        +      17        +   1,790
Surplus                                                          8,847                0        +     512
Other capital accounts                                           1,285        -     100        +     810
      Total capital                                             20,676        -      84        +   3,112


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 3, 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              17       56,199   +  20,307            0           0       20,250       26,512
16 days to 90 days          65      152,081   -  18,225            0           0            0            0
91 days to 1 year            0      168,281   -   1,082            0           0     ------      ------
Over 1 to 5 years     ------        203,789   +     280            0           0     ------      ------
Over 5 to 10 years    ------         51,060   +     118            0           0     ------      ------
Over 10 years         ------         76,720   +       2            0           0     ------      ------
                   		 	
All                         82      708,130   +   1,400            0           0       20,250      26,512

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 3, 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                                             779         21         46         54         53         70         81        113         40         23         50        118        109
Securities, repurchase agreements,
      and loans                              728,462     33,252    327,305     21,066     30,258     53,821     47,765     63,804     20,805     15,475     18,625     32,289     63,996
   Securities held outright                  708,130     33,252    307,055     21,062     30,258     53,821     47,754     63,787     20,804     15,445     18,608     32,287     63,996
      U.S. Treasury (1)                      708,130     33,252    307,055     21,062     30,258     53,821     47,754     63,787     20,804     15,445     18,608     32,287     63,996
         Bills (2)                           259,393     12,180    112,476      7,715     11,084     19,715     17,493     23,366      7,621      5,658      6,816     11,827     23,442
         Notes and bonds(3)                  448,737     21,072    194,578     13,347     19,175     34,106     30,262     40,422     13,183      9,788     11,792     20,460     40,554
         Federal agency (2)                        0          0          0          0          0          0          0          0          0          0          0          0          0
      Repurchase agreements(4)                20,250          0     20,250          0          0          0          0          0          0          0          0          0          0
      Loans                                       82          0          0          4          0          0         11         17          1         30         17          2          0
Items in process of collection                 8,748        448        476        382        612        524        780        836        510        538        726        304      2,610
Bank premises                                  1,741         98        190         52        154        144        278        147         61        123         78        238        179
Other assets(5)                               39,969      1,820     14,408      1,116      2,455      6,231      2,295      3,620      1,051      1,179        833      1,030      3,931
Interdistrict settlement account                   0    + 3,662    -28,421    + 3,680    -   486    + 1,029    + 9,406    +    42    + 1,464    -   741    + 1,623    + 2,158    + 6,584
          Total Assets                       792,937     39,910    319,527     26,815     33,604     62,785     61,666     69,698     24,327     16,846     22,302     36,760     78,697

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 3, 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             836,243     37,781    324,350     33,048     34,780     65,330     72,990     71,251     25,329     16,174     24,519     41,895     88,797
  Less: notes held by F.R. Banks              126,631      4,367     32,505      8,800      5,692     12,002     17,453      8,843      3,151      1,647      4,701      7,827     19,643
    Federal Reserve notes, net                709,612     33,414    291,845     24,248     29,088     53,328     55,536     62,408     22,178     14,527     19,819     34,068     69,153
Reverse repurchase agreements (1)              26,512      1,245     11,496        789      1,133      2,015      1,788      2,388        779        578        697      1,209      2,396
Deposits                                       25,109      2,114      9,838        636      1,188      2,406      2,138      2,051        596        407        898        713      2,124
  Depository institutions                      19,684      2,108      4,629        635      1,185      2,221      2,136      2,047        588        405        896        713      2,121
  U.S. Treasury, general account                4,971          0      4,971          0          0          0          0          0          0          0          0          0          0
  Foreign official                                 82          2         58          1          2          7          2          3          1          1          1          0          4
  Other                                           372          5        179          0          0        178          0          1          8          0          1          0          0
Deferred availability cash items                8,079        623        894        439        508        477        898        495        166        625        467        350      2,136
Other liabilities and accrued                 
  dividends (2)                                 2,949        175        918        107        145        312        222        265        116         91        103        147        347
   
    Total liabilities                         772,261     37,572    314,990     26,219     32,062     58,538     60,583     67,607     23,835     16,227     21,983     36,488     76,157
                              
Capital                    
Capital paid in                                10,544      1,634      2,165        292        762      2,098        527      1,028        241        263        149        132      1,255
Surplus                                         8,847        448      2,031        259        727      2,074        489        924        228        346        162        111      1,048
Other capital                                   1,285        256        342         45         52         76         67        140         23         10          8         30        237
     Total liabilities and capital            792,937     39,910    319,527     26,815     33,604     62,785     61,666     69,698     24,327     16,846     22,302     36,760     78,697
                              

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 3, 2004
              
Federal Reserve notes outstanding             836,243
   Less: Notes held by F.R. Banks
         not subject to collateralization     126,631
      Federal Reserve Notes to be
         collateralized                       709,612 
Collateral held against Federal Reserve            
   notes                                      709,612
   Gold certificate account                    11,039
   Special drawing rights                 
     certificate account                        2,200
   U.S. Treasury and agency securities   
     pledged (1)                              696,373
   Other assets pledged                             0

Memo:
Total U.S. Treasury and agency 
       securities (1)                         728,380
   Less:face value of securities under
         reverse repurchase agreements         26,526
      U.S. Treasury and agency securities
             eligible to be pledged           701,854
   

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.