FEDERAL RESERVE Statistical Release

H.4.1
Factors Affecting Reserve Balances of Depository Institutions and
Condition Statement of Federal Reserve Banks
                                                                                            October 9, 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 8, 2003  Oct 1, 2003  Oct 9, 2002  Oct 8, 2003
Federal Reserve Banks

Reserve Bank Credit                                         715,038    -  12,141    +  59,396      716,049
 Securities held outright                                   656,242    +     123    +  47,122      656,280       
    U.S. Treasury (1)                                       656,232    +     123    +  47,122      656,270
       Bills (2)                                            241,639    +     112    +  34,517      241,672
       Notes and bonds, nominal (2)                         399,595            0    +  11,029      399,595
       Notes and bonds, inflation-indexed (2)                13,454            0    +   1,212       13,454
       Inflation compensation (3)                             1,543    +      10    +     363        1,548
    Federal agency (2)                                           10            0            0           10      
 Repurchase agreements(4)                                    19,250    -  12,857    +  11,821       19,750
 Loans to depository institutions                               127    -      51    -      54          115
    Primary credit                                                2    -      21    +       2            5
    Secondary credit                                              0            0            0            0
    Seasonal credit                                             125    -      30    -      11          109
    Adjustment credit                                             0            0    -      45            0
 Float                                                         -287    +     328    -     727         -143
 Other Federal Reserve assets                                39,705    +     316    +   1,232       40,048
Gold stock                                                   11,043            0    +       1       11,043
Special drawing rights certificate account                    2,200            0            0        2,200
Treasury currency outstanding (5)                            35,271    +      14    +     942       35,271
       
Total factors supplying reserve funds                       763,552    -  12,127    +  60,339      764,563
                                                                   
Currency in circulation(5)                                  698,979    +   2,213    +  37,296      701,252
Reverse repurchase agreements (6)                            19,322    -   2,062    +  19,322       18,951
   Foreign official and international accounts               19,322    -   2,062    +  19,322       18,951
   Dealers                                                        0            0            0            0
Treasury cash holdings                                          358    +      15    -      18          371
Deposits with F.R.Banks, other than reserve balances         17,090    -   2,049    +   1,325       16,805       
  U.S. Treasury, general account                              5,185    -   1,737    +      79        4,935
  Foreign official                                              105    -     354    -      11           81
  Service-related                                            11,456    -      59    +   1,165       11,456
     Required clearing balances                              11,252    +      27    +   1,254       11,252
     Adjustments to compensate for float                        204    -      86    -      89          204
  Other                                                         345    +     102    +      93          334
Other liabilities and capital                                20,578    -     337    +   1,052       20,295

Total factors, other than reserve balances,                                        
   absorbing reserve funds                                  756,328    -   2,220    +  58,978      757,675

Reserve balances with Federal Reserve Banks                   7,224    -   9,907    +   1,361        6,888
                                                                

Memo (off-balance-sheet items):
  Marketable securities held in custody for foreign
         official and international accounts(2,7)           991,768    +  18,238     ------        990,790
     U.S. Treasury                                          798,667    +  16,941     ------        798,517
     Federal agency                                         193,101    +   1,297     ------        192,272
  Securities lent to dealers                                  2,338    -   1,351    +   1,275        2,998   


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 8, 2003      Oct 1, 2003      Oct 9, 2002

Assets
Gold certificate account                                        11,039                0        +       1
Special drawing rights certificate account                       2,200                0                0
Coin                                                               826        -      13        -     246
Securities, repurchase agreements, and loans                   676,145        -  16,952        +  59,482
   Securities held outright                                    656,280        +      84        +  46,754
      U.S. Treasury (1)                                        656,270        +      84        +  46,754       
         Bills (2)                                             241,672        +      71        +  34,150
         Notes and bonds, nominal (2)                          399,595                0        +  11,029
         Notes and bonds, inflation-indexed (2)                 13,454                0        +   1,212
         Inflation compensation (3)                              1,548        +      13        +     363
      Federal agency (2)                                            10                0                0
   Repurchase agreements (4)                                    19,750        -  17,000        +  12,750    
   Loans                                                           115        -      36        -      22
Items in process of collection                      (985)        7,751        +     352        +     234
Bank premises                                                    1,595        +       1        +      72
Other assets (5)                                                38,441        +     565        +   1,251
      Total assets                                  (985)      737,996        -  16,049        +  60,793
                          
Liabilities
Federal Reserve notes net of FR Bank holdings                  667,174        +   2,362        +  36,474
Reverse repurchase agreements (6)                               18,951        -   3,139        +  18,951
Deposits                                              (0)       23,618        -  14,930        +   3,815       
  Depository institutions                                       18,268        -  14,526        +   3,199
  U.S. Treasury, general account                                 4,935        +      13        +     534
  Foreign official                                                  81        -     415        +       5
  Other                                               (0)          334        -       2        +      76
Deferred availability cash items                    (985)        7,958        -     240        +     680
Other liabilities and accrued dividends (7)                      2,247        +      37        -     207
      Total liabilities                             (985)      719,949        -  15,908        +  59,715
                          
Capital Accounts
Capital paid in                                                  8,747        +       1        +     479
Surplus                                                          8,380                0        +   1,068
Other capital accounts                                             920        -     141        -     469
      Total capital                                             18,048        -     139        +   1,080


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 collatealized 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 8, 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              24       45,442   -     292            0           0       19,750       18,951
16 days to 90 days          91      146,740   +   8,303           10           0            0            0
91 days to 1 year            0      158,422   -   7,940            0           0     ------      ------
Over 1 to 5 years     ------        176,907   +       3            0           0     ------      ------
Over 5 to 10 years    ------         51,664   +       4            0           0     ------      ------
Over 10 years         ------         77,095   +       5            0           0     ------      ------
                   		 	
All                        115      656,270   +      84           10           0       19,750      18,951

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 8, 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         39         36         35         98        106        101         56         27         48        153        100
Securities, repurchase agreements,
      and loans                              676,145     31,728    300,528     20,518     30,757     50,470     44,339     66,347     20,669     14,685     17,657     25,719     52,728
   Securities held outright                  656,280     31,728    280,778     20,518     30,752     50,470     44,336     66,317     20,647     14,649     17,637     25,719     52,728
      U.S. Treasury (1)                      656,270     31,728    280,773     20,518     30,751     50,469     44,335     66,316     20,647     14,649     17,637     25,719     52,728
         Bills (2)                           241,672     11,684    103,395      7,556     11,324     18,585     16,326     24,421      7,603      5,394      6,495      9,471     19,417
         Notes and bonds(3)                  414,597     20,044    177,378     12,962     19,427     31,884     28,009     41,895     13,044      9,254     11,142     16,248     33,311
         Federal agency (2)                       10          0          4          0          0          1          1          1          0          0          0          0          1
      Repurchase agreements(4)                19,750          0     19,750          0          0          0          0          0          0          0          0          0          0
      Loans                                      115          0          0          0          5          0          4         29         22         36         20          0          0
Items in process of collection                 8,735        634        727        483        369        659        805        647        443        477        501        207      2,783
Bank premises                                  1,595         91        189         52        150        143        277        120         43        125         54        172        176
Other assets(5)                               38,441      1,779     13,743      1,094      2,432      6,135      2,228      3,581        986      1,154        913      1,095      3,302
Interdistrict settlement account                   0    - 1,323    + 5,599    - 1,684    - 1,985    - 1,312    + 1,408    - 6,638    - 1,545    -   318    -   784    + 2,810    + 5,772
          Total Assets                       738,981     33,545    326,404     20,962     32,340     57,149     50,193     65,352     21,054     16,405     18,758     30,761     66,060

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 8, 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             788,857     35,504    329,190     27,577     33,153     59,254     64,160     66,852     23,527     15,797     21,556     36,310     75,977
  Less: notes held by F.R. Banks              121,683      5,503     24,932      9,130      5,507     10,354     18,680     10,537      4,487      1,677      4,838      8,010     18,028
    Federal Reserve notes, net                667,174     30,001    304,258     18,447     27,646     48,900     45,481     56,314     19,040     14,120     16,718     28,299     57,950
Reverse repurchase agreements (1)              18,951        916      8,108        592        888      1,457      1,280      1,915        596        423        509        743      1,523
Deposits                                       23,618        994      8,110        882      1,724      1,674      1,344      4,285        578        504        623        788      2,111
  Depository institutions                      18,268        986      2,958        881      1,721      1,510      1,343      4,282        570        503        621        787      2,107
  U.S. Treasury, general account                4,935          0      4,935          0          0          0          0          0          0          0          0          0          0
  Foreign official                                 81          2         57          1          3          7          2          3          1          1          1          1          3
  Other                                           334          7        160          0          0        156          0          0          8          0          1          1          0
Deferred availability cash items                8,943        584      1,033        421        521        656        917        721        266        562        408        430      2,425
Other liabilities and accrued                 
  dividends (2)                                 2,247        130        692         93        121        246        179        227        101         87         87        113        171
   
    Total liabilities                         720,933     32,625    322,200     20,436     30,900     52,933     49,201     63,462     20,582     15,696     18,346     30,372     64,179
                              
Capital                    
Capital paid in                                 8,747        448      1,998        255        705      2,073        478        917        228        348        196        184        918
Surplus                                         8,380        436      1,809        233        702      2,073        475        858        199        340        201        186        868
Other capital                                     920         36        398         38         32         70         38        115         45         21         15         18         95
     Total liabilities and capital            738,981     33,545    326,404     20,962     32,340     57,149     50,193     65,352     21,054     16,405     18,758     30,761     66,060
                              

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 8, 2003
              
Federal Reserve notes outstanding             788,857
   Less: Notes held by F.R. Banks
         not subject to collateralization     117,173
      Federal Reserve Notes to be
         collateralized                       671,685 
Collateral held against Federal Reserve            
   notes                                      671,685
   Gold certificate account                    11,039
   Special drawing rights                 
     certificate account                        2,200
   U.S. Treasury and agency securities   
     pledged (1)                              657,075
   Other eligible assets                        1,371

Memo:
Total U.S. Treasury and agency 
       securities (1)                         676,030
   Less:face value of securities under
         reverse repurchase agreements         18,955
      U.S. Treasury and agency securities
             eligible to be pledged           657,075
   

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.