FEDERAL RESERVE Statistical Release

H.4.1
Factors Affecting Reserve Balances of Depository Institutions and
Condition Statement of Federal Reserve Banks
                                                                                           October 30, 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           Oct 29, 2003 Oct 22, 2003 Oct 30, 2002 Oct 29, 2003
Federal Reserve Banks

Reserve Bank Credit                                         726,848    +   5,726    +  64,412      727,168
 Securities held outright                                   657,966    +   1,341    +  49,263      658,682       
    U.S. Treasury (1)                                       657,956    +   1,341    +  49,263      658,672
       Bills (2)                                            242,161    +     164    +  35,487      242,308
       Notes and bonds, nominal (2)                         400,759    +   1,164    +  12,193      401,322
       Notes and bonds, inflation-indexed (2)                13,454            0    +   1,212       13,454
       Inflation compensation (3)                             1,582    +      13    +     369        1,587
    Federal agency (2)                                           10            0            0           10      
 Repurchase agreements(4)                                    28,071    +   3,500    +  14,000       28,000
 Loans to depository institutions                                90    -      10    -      11           82
    Primary credit                                               19    +       5    +      19           11
    Secondary credit                                              0            0            0            0
    Seasonal credit                                              71    -      15    -      27           71
    Adjustment credit                                             0            0    -       3            0
 Float                                                         -102    +     230    -     313         -487
 Other Federal Reserve assets                                40,823    +     667    +   1,473       40,891
Gold stock                                                   11,043            0    +       1       11,043
Special drawing rights certificate account                    2,200            0            0        2,200
Treasury currency outstanding (5)                            35,313    +      14    +     942       35,313
       
Total factors supplying reserve funds                       775,404    +   5,740    +  65,355      775,724
                                                                   
Currency in circulation(5)                                  702,012    -     622    +  39,910      703,467
Reverse repurchase agreements (6)                            19,174    +     541    +  19,174       19,286
   Foreign official and international accounts               19,174    +     541    +  19,174       19,286
   Dealers                                                        0            0            0            0
Treasury cash holdings                                          399    +      10    -       1          390
Deposits with F.R.Banks, other than reserve balances         16,920    -     394    +   1,576       17,472       
  U.S. Treasury, general account                              5,125    -     278    +     326        5,672
  Foreign official                                               81    -      16    -      76           85
  Service-related                                            11,432    -      92    +   1,249       11,432
     Required clearing balances                              11,340            0    +   1,370       11,340
     Adjustments to compensate for float                         92    -      92    -     121           92
  Other                                                         283    -       6    +      78          283
Other liabilities and capital                                20,506    +     270    +     855       20,106

Total factors, other than reserve balances,                                        
   absorbing reserve funds                                  759,012    -     194    +  61,515      760,721

Reserve balances with Federal Reserve Banks                  16,393    +   5,935    +   3,841       15,003
                                                                

Memo (off-balance-sheet items):
  Marketable securities held in custody for foreign
         official and international accounts(2,7)           995,620    +     224     ------        997,559
     U.S. Treasury                                          794,655    -   4,381     ------        794,308
     Federal agency                                         200,965    +   4,605     ------        203,252
  Securities lent to dealers                                  1,075    -     840    -     659        2,073   


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 Oct 29, 2003     Oct 22, 2003     Oct 30, 2002

Assets
Gold certificate account                                        11,039                0        +       1
Special drawing rights certificate account                       2,200                0                0
Coin                                                               826        +      16        -     253
Securities, repurchase agreements, and loans                   686,764        +   4,406        +  57,501
   Securities held outright                                    658,682        +   1,918        +  50,007
      U.S. Treasury (1)                                        658,672        +   1,918        +  50,007       
         Bills (2)                                             242,308        +     177        +  35,667
         Notes and bonds, nominal (2)                          401,322        +   1,727        +  12,756
         Notes and bonds, inflation-indexed (2)                 13,454                0        +   1,212
         Inflation compensation (3)                              1,587        +      13        +     372
      Federal agency (2)                                            10                0                0
   Repurchase agreements (4)                                    28,000        +   2,500        +   7,500    
   Loans                                                            82        -      12        -       6
Items in process of collection                    (1,512)        6,443        -   1,162        -   2,916
Bank premises                                                    1,596        -       1        +      68
Other assets (5)                                                39,289        +     437        +   1,209
      Total assets                                (1,512)      748,158        +   3,696        +  55,611
                          
Liabilities
Federal Reserve notes net of FR Bank holdings                  669,367        +     160        +  38,202
Reverse repurchase agreements (6)                               19,286        +   1,175        +  19,286
Deposits                                              (0)       32,601        +   3,298        -   1,852       
  Depository institutions                                       26,560        +   2,758        -   2,060
  U.S. Treasury, general account                                 5,672        +     549        +     284
  Foreign official                                                  85        -      14        -     153
  Other                                               (0)          283        +       4        +      77
Deferred availability cash items                  (1,512)        6,799        -     714        -     548
Other liabilities and accrued dividends (7)                      2,303        +      40        -     149
      Total liabilities                           (1,512)      730,355        +   3,957        +  54,937
                          
Capital Accounts
Capital paid in                                                  8,742        +       8        +     471
Surplus                                                          8,380                0        +   1,068
Other capital accounts                                             681        -     269        -     865
      Total capital                                             17,803        -     260        +     674


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,   October 29, 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              73       49,082   -   1,347            0           0       28,000       19,286
16 days to 90 days           9      144,424   +   1,622           10           0            0            0
91 days to 1 year            0      157,733   -      98            0           0     ------      ------
Over 1 to 5 years     ------        178,364   +   1,450            0           0     ------      ------
Over 5 to 10 years    ------         51,958   +     285            0           0     ------      ------
Over 10 years         ------         77,110   +       5            0           0     ------      ------
                   		 	
All                         82      658,672   +   1,918           10           0       28,000      19,286

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   October 29, 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                                             826         26         37         42         37         96        105         97         60         23         47        151        105
Securities, repurchase agreements,
      and loans                              686,764     31,844    309,805     20,596     30,864     50,655     44,502     66,581     20,731     14,729     17,718     25,814     52,925
   Securities held outright                  658,682     31,844    281,805     20,593     30,864     50,655     44,498     66,560     20,723     14,703     17,702     25,814     52,921
      U.S. Treasury (1)                      658,672     31,844    281,801     20,593     30,864     50,654     44,497     66,559     20,723     14,703     17,701     25,813     52,921
         Bills (2)                           242,308     11,715    103,667      7,576     11,354     18,634     16,369     24,485      7,623      5,409      6,512      9,496     19,468
         Notes and bonds(3)                  416,364     20,129    178,134     13,017     19,510     32,020     28,128     42,074     13,099      9,294     11,190     16,317     33,452
         Federal agency (2)                       10          0          4          0          0          1          1          1          0          0          0          0          1
      Repurchase agreements(4)                28,000          0     28,000          0          0          0          0          0          0          0          0          0          0
      Loans                                       82          0          0          3          0          0          4         21          8         26         16          0          4
Items in process of collection                 7,955        467        605        495        395        470        685        617        394        451        591        410      2,375
Bank premises                                  1,596         91        189         52        150        143        277        121         44        125         55        171        177
Other assets(5)                               39,289      1,826     14,132      1,092      2,451      6,198      2,286      3,672      1,018      1,172        937      1,132      3,374
Interdistrict settlement account                   0    + 1,223    +   214    - 1,303    - 2,085    -   300    + 2,252    - 7,970    - 1,687    +   427    -   442    + 3,260    + 6,409
          Total Assets                       749,670     36,088    330,563     21,436     32,392     58,217     51,136     64,312     20,962     17,181     19,276     31,544     66,562

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   October 29, 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             789,293     36,487    326,788     27,442     32,811     59,345     65,354     66,778     23,388     15,730     21,484     36,963     76,723
  Less: notes held by F.R. Banks              119,926      5,593     22,730      8,736      5,769     10,465     19,067     10,485      4,590      1,509      4,634      8,043     18,305
    Federal Reserve notes, net                669,367     30,894    304,058     18,706     27,042     48,881     46,286     56,294     18,797     14,220     16,849     28,920     58,418
Reverse repurchase agreements (1)              19,286        932      8,251        603        904      1,483      1,303      1,949        607        430        518        756      1,549
Deposits                                       32,601      2,428     12,499      1,016      2,439      2,903      1,604      3,299        734      1,214        959        992      2,513
  Depository institutions                      26,560      2,419      6,605      1,015      2,435      2,791      1,602      3,295        726      1,213        958        991      2,510
  U.S. Treasury, general account                5,672          0      5,672          0          0          0          0          0          0          0          0          0          0
  Foreign official                                 85          2         61          1          3          7          2          3          1          1          1          1          3
  Other                                           283          7        161          0          1        104          0          1          7          0          1          0          0
Deferred availability cash items                8,311        790        898        493        464        550        784        670        256        527        459        376      2,045
Other liabilities and accrued                 
  dividends (2)                                 2,303        134        698         94        125        258        184        232        104         89         88        116        181
   
    Total liabilities                         731,867     35,178    326,406     20,912     30,973     54,075     50,161     62,443     20,498     16,480     18,874     31,161     64,706
                              
Capital                    
Capital paid in                                 8,742        448      1,999        259        705      2,061        478        917        229        348        196        184        918
Surplus                                         8,380        436      1,809        233        702      2,073        475        858        199        340        201        186        868
Other capital                                     681         26        350         32         12          9         21         94         37         13          5         13         70
     Total liabilities and capital            749,670     36,088    330,563     21,436     32,392     58,217     51,136     64,312     20,962     17,181     19,276     31,544     66,562
                              

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
                                          Oct 29, 2003
              
Federal Reserve notes outstanding             789,293
   Less: Notes held by F.R. Banks
         not subject to collateralization     119,926
      Federal Reserve Notes to be
         collateralized                       669,367 
Collateral held against Federal Reserve            
   notes                                      669,367
   Gold certificate account                    11,039
   Special drawing rights                 
     certificate account                        2,200
   U.S. Treasury and agency securities   
     pledged (1)                              656,127
   Other assets pledged                             0

Memo:
Total U.S. Treasury and agency 
       securities (1)                         686,682
   Less:face value of securities under
         reverse repurchase agreements         19,319
      U.S. Treasury and agency securities
             eligible to be pledged           667,363
   

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.