Reserve Bank credit, related items, and

reserve balances of depository institutions

at Federal Reserve Banks

Reserve Bank credit 721,122 - 1,710 + 63,440 722,682

Securities held outright 656,625 + 209 + 46,342 656,764

U.S. Treasury1 656,615 + 209 + 46,342 656,754

Bills2 241,997 + 198 + 33,733 242,131

Notes and bonds, nominal2 399,595 0 + 11,029 399,595

Notes and bonds, inflation-indexed2 13,454 0 + 1,212 13,454

Inflation compensation3 1,569 + 12 + 369 1,574

Federal agency2 10 0 0 10

Repurchase agreements4 24,571 - 1,822 + 16,428 25,500

Loans to depository institutions 100 - 2 - 20 94

Primary credit 14 + 10 + 14 11

Secondary credit 0 0 0 0

Seasonal credit 86 - 12 - 30 83

Adjustment credit 0 0 - 4 0

Float -331 + 5 - 697 -132

Other Federal Reserve assets 40,156 - 102 + 1,385 40,456

Gold stock 11,043 0 + 1 11,043

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

Treasury currency outstanding5 35,299 + 14 + 942 35,299

Total factors supplying reserve funds 769,664 - 1,696 + 64,383 771,225

Currency in circulation5 702,634 - 482 + 39,779 703,300

Reverse repurchase agreements6 18,633 - 462 + 18,633 18,111

Foreign official and international accounts 18,633 - 462 + 18,633 18,111

Dealers 0 0 0 0

Treasury cash holdings 389 + 16 - 10 400

Deposits with F.R. Banks, other than reserve balances 17,314 + 1,748 + 1,401 17,025

U.S. Treasury, general account 5,403 + 1,658 + 339 5,123

Foreign official 97 - 42 - 244 99

Service-related 11,524 + 154 + 1,227 11,524

Required clearing balances 11,340 + 88 + 1,370 11,340

Adjustments to compensate for float 184 + 66 - 143 184

Other 289 - 23 + 77 279

Other liabilities and capital 20,236 - 287 + 845 20,327

Total factors, other than reserve balances,

absorbing reserve funds 759,206 + 534 + 60,648 759,163

Reserve balances with Federal Reserve Banks 10,459 - 2,229 + 3,736 12,062

Memo (off-balance-sheet items):

Marketable securities held in custody for foreign

 official and international accounts2,7 995,396 + 4,613 . . . 993,247

U.S. Treasury 799,036 + 1,240 . . . 793,691

Federal agency 196,360 + 3,373 . . . 199,555

Securities lent to dealers 1,915 + 956 + 735 1,442

FEDERAL RESERVE statistical release

 October 23, 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

 Oct 22, 2003 Week ended

 Oct 22, 2003 Oct 15, 2003 Oct 23, 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 810 - 3 - 264

Securities, repurchase agreements, and loans 682,358 - 4,501 + 64,510

Securities held outright 656,764 + 265 + 46,523

U.S. Treasury1 656,754 + 265 + 46,523

Bills2 242,131 + 252 + 33,914

Notes and bonds, nominal2 399,595 0 + 11,029

Notes and bonds, inflation-indexed2 13,454 0 + 1,212

Inflation compensation3 1,574 + 13 + 369

Federal agency2 10 0 0

Repurchase agreements4 25,500 - 4,750 + 18,000

Loans 94 - 16 - 13

Items in process of collection (1,273) 7,605 - 6,697 - 234

Bank premises 1,597 + 1 + 69

Other assets5 38,852 + 546 + 1,339

Total assets (1,273) 744,462 - 10,652 + 65,422

Liabilities

Federal Reserve notes, net of F.R. Bank holdings 669,207 - 854 + 38,790

Reverse repurchase agreements6 18,111 - 531 + 18,111

Deposits ( 0 ) 29,303 - 5,827 + 7,330

Depository institutions 23,802 - 6,018 + 7,875

U.S. Treasury, general account 5,123 + 266 - 590

Foreign official 99 - 66 - 29

Other ( 0 ) 279 - 10 + 74

Deferred availability cash items (1,273) 7,513 - 3,794 + 235

Other liabilities and accrued dividends7 2,263 + 24 - 161

Total liabilities (1,273) 726,398 - 10,981 + 64,306

Capital accounts

Capital paid in 8,734 - 5 + 459

Surplus 8,380 + 5 + 1,068

Other capital accounts 950 + 329 - 412

Total capital 18,063 + 328 + 1,115

H.4.1

2. Consolidated Statement of Condition of All Federal Reserve Banks

Millions of dollars

Change since

Wednesday

 Oct 23, 2002

Eliminations from

consolidation Wednesday

 Oct 22, 2003

Wednesday

 Oct 15, 2003

3. Maturity Distribution of Loans and Securities, October 22, 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 83 50,429 + 5,401 0 0 25,500 18,111

16 days to 90 days 11 142,802 - 4,878 10 0 0 0

91 days to 1 year 0 157,831 - 272 0 0 . . . . . . 

Over 1 year to 5 years . . . 176,914 + 4 0 0 . . . . . . 

Over 5 years to 10 years . . . 51,673 + 4 0 0 . . . . . . 

Over 10 years . . . 77,105 + 5 0 0 . . . . . . 

All 94 656,754 + 265 10 0 25,500 18,111

Assets, liabilities, and capital

Maturity
H.4.1

4. Statement of Condition of Each Federal Reserve Bank on October 22, 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 2,200 810 682,358 656,764 656,754 242,131 414,623 10 25,500 94 8,878 1,597 38,852 0 745,735

Assets, liabilities, and capital

 4,706 874 36 306,485 280,985 280,981 103,591 177,389 4 25,500 0 721 190 13,934 + 1,470 328,416

 495 115 23 31,752 31,752 31,751 11,706 20,045 0 0 0 711 91 1,804 - 1,126 33,864

 380 83 39 20,533 20,533 20,533 7,570 12,963 0 0 0 461 52 1,078 - 1,092 21,535

 477 104 32 30,774 30,774 30,774 11,346 19,428 0 0 0 321 150 2,434 - 2,440 31,854

 808 147 96 50,507 50,507 50,506 18,621 31,886 1 0 0 478 143 6,181 + 1,527 59,887

 863 166 106 44,374 44,368 44,368 16,357 28,010 1 0 6 729 278 2,253 + 2,599 51,367

 982 212 98 66,395 66,366 66,365 24,467 41,898 1 0 29 758 121 3,625 - 7,328 64,862

 331 71 59 20,676 20,663 20,662 7,618 13,045 0 0 13 580 43 1,003 - 1,808 20,955

 2   14,6 14,6 14,6 5,4 9,2    4 1 1,1 - 1 16,5
 788,919

 114,975 673,944 673,944 11,039 2,200 660,705 0 682,264 18,122 664,143

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.

 788,919 119,712 669,207 18,111 29,303 23,802 5,123 99 279 8,786 2,263 727,671 8,734 8,380 950 745,735

 36,024 5,513 30,511 876 864 856 0 2 6 554 134 32,939 448 436 41 33,864

 327,273 22,686 304,587 7,749 10,203 4,851 5,123 75 154 979 691 324,208 1,998 1,809 401 328,416

 27,603 8,881 18,723 566 1,154 1,153 0 1 0 471 94 21,007 255 233 40 21,535

 32,883 5,429 27,455 849 1,368 1,364 0 3 1 618 122 30,411 705 702 35 31,854

 59,260 10,514 48,747 1,393 4,768 4,654 0 7 106 533 244 55,684 2,061 2,073 69 59,887

 65,364 18,975 46,389 1,224 1,687 1,685 0 2 0 893 181 50,374 476 475 42 51,367

 66,533 10,387 56,146 1,830 4,040 4,036 0 3 1 725 229 62,971 917 858 116 64,862

 23,444 4,651 18,793 570 751 743 0 1 8 263 102 20,478 229 199 49 20,955

 15,7 1,5 14,2 4 6 6    5  15,8 3 3  16,5

H.4.1

4. Statement of Condition of Each Federal Reserve Bank on October 22, 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

 Oct 22, 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.