Reserve Bank credit, related items, and

reserve balances of depository institutions

at Federal Reserve Banks

Reserve Bank credit 754,238 - 553 + 27,699 749,097

Securities held outright 694,041 + 300 + 40,595 694,760

U.S. Treasury1 694,041 + 300 + 40,605 694,760

Bills2 255,251 + 3 + 14,953 255,254

Notes and bonds, nominal2 421,830 + 284 + 22,977 422,541

Notes and bonds, inflation-indexed2 14,862 0 + 2,048 14,862

Inflation compensation3 2,098 + 13 + 627 2,102

Federal agency2 0 0 - 10 0

Repurchase agreements4 20,536 + 500 - 13,535 16,500

Loans to depository institutions 246 + 7 - 691 241

Primary credit 12 - 4 - 707 8

Secondary credit 0 0 - 66 0

Seasonal credit 235 + 12 + 83 234

Float -389 - 92 - 1,231 -173

Other Federal Reserve assets 39,803 - 1,268 + 2,560 37,768

Gold stock 11,044 0 + 1 11,044

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

Treasury currency outstanding5 36,137 + 14 + 946 36,137

Total factors supplying reserve funds 803,619 - 539 + 28,645 798,479

Currency in circulation5 735,052 + 24 + 40,324 735,981

Reverse repurchase agreements6 21,728 + 1,306 + 1,622 21,374

Foreign official and international accounts 21,728 + 1,306 + 1,622 21,374

Dealers 0 0 0 0

Treasury cash holdings 306 + 17 - 49 320

Deposits with F.R. Banks, other than reserve balances 15,429 - 553 - 2,089 15,591

U.S. Treasury, general account 4,456 - 608 - 1,188 4,665

Foreign official 111 + 30 - 127 104

Service-related 10,527 - 12 - 804 10,527

Required clearing balances 10,527 - 2 - 385 10,527

Adjustments to compensate for float 0 - 10 - 419 0

Other 336 + 38 + 32 294

Other liabilities and capital 21,965 + 115 + 1,661 21,683

Total factors, other than reserve balances,

absorbing reserve funds 794,480 + 910 + 41,469 794,949

Reserve balances with Federal Reserve Banks 9,139 - 1,449 - 12,824 3,529

Memo (off-balance-sheet items):

Marketable securities held in custody for foreign

 official and international accounts2,7 1,265,550 + 9,286 + 319,368 1,274,209

U.S. Treasury 1,025,443 + 7,504 + 264,955 1,034,982

Federal agency 240,107 + 1,782 + 54,412 239,227

Securities lent to dealers 1,085 + 337 - 3,147 3,179

FEDERAL RESERVE statistical release

 August 19, 2004

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.

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

 Aug 18, 2004 Week ended

 Aug 18, 2004 Aug 11, 2004 Aug 20, 2003
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 11,040 0 + 1

Special drawing rights certificate account 2,200 0 0

Coin 754 + 4 - 143

Securities, repurchase agreements, and loans 711,502 + 1,525 + 18,214

Securities held outright 694,760 + 1,014 + 41,234

U.S. Treasury1 694,760 + 1,014 + 41,244

Bills2 255,254 + 6 + 14,878

Notes and bonds, nominal2 422,541 + 995 + 23,688

Notes and bonds, inflation-indexed2 14,862 0 + 2,048

Inflation compensation3 2,102 + 12 + 630

Federal agency2 0 0 - 10

Repurchase agreements4 16,500 + 500 - 23,000

Loans 241 + 10 - 21

Items in process of collection (621) 5,571 + 254 - 1,985

Bank premises 1,711 + 1 + 121

Other assets5 35,998 - 3,427 + 844

Total assets (621) 768,775 - 1,643 + 17,051

Liabilities

Federal Reserve notes, net of F.R. Bank holdings 700,913 - 295 + 39,186

Reverse repurchase agreements6 21,374 + 768 + 1,030

Deposits ( 0 ) 19,065 - 1,983 - 23,038

Depository institutions 14,001 - 2,083 - 21,187

U.S. Treasury, general account 4,665 + 48 - 1,868

Foreign official 104 + 22 + 23

Other ( 0 ) 294 + 29 - 7

Deferred availability cash items (621) 5,740 - 146 - 1,927

Other liabilities and accrued dividends7 2,520 + 8 + 358

Total liabilities (621) 749,612 - 1,649 + 15,609

Capital accounts

Capital paid in 9,262 + 2 + 537

Surplus 8,847 - 9 + 467

Other capital accounts 1,054 + 14 + 437

Total capital 19,163 + 6 + 1,441

H.4.1

2. Consolidated Statement of Condition of All Federal Reserve Banks

Millions of dollars

Change since

Wednesday

 Aug 20, 2003

Eliminations from

consolidation Wednesday

 Aug 18, 2004

Wednesday

 Aug 11, 2004

3. Maturity Distribution of Loans and Securities, August 18, 2004

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 233 58,065 + 1,500 0 0 16,500 21,374

16 days to 90 days 8 151,192 + 1,870 0 0 0 0

91 days to 1 year 0 162,157 - 4,585 0 0 . . . . . . 

Over 1 year to 5 years . . . 197,632 + 5,200 0 0 . . . . . . 

Over 5 years to 10 years . . . 49,803 - 2,069 0 0 . . . . . . 

Over 10 years . . . 75,911 - 902 0 0 . . . . . . 

All 241 694,760 + 1,014 0 0 16,500 21,374

Assets, liabilities, and capital

Maturity
H.4.1

4. Statement of Condition of Each Federal Reserve Bank on August 18, 2004Millions 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.

 11,040 2,200 754 711,502 694,760 694,760 255,254 439,506 0 16,500 241 6,192 1,711 35,998 0 769,396

Assets, liabilities, and capital

 4,650 874 39 317,758 301,257 301,257 110,682 190,576 0 16,500 0 544 191 12,832 -30,394 306,493

 494 115 19 32,624 32,624 32,624 11,986 20,638 0 0 0 316 97 1,631 + 2,729 38,025

 382 83 36 20,673 20,664 20,664 7,592 13,072 0 0 9 295 51 999 + 4,238 26,757

 452 104 44 29,687 29,687 29,687 10,907 18,780 0 0 0 331 154 2,248 + 51 33,071

 819 147 74 52,807 52,805 52,805 19,400 33,404 0 0 2 351 145 5,815 - 1,387 58,770

 894 166 95 46,859 46,853 46,853 17,214 29,639 0 0 7 574 279 2,036 +10,060 60,963

 924 212 94 62,653 62,583 62,583 22,993 39,590 0 0 70 408 139 3,248 - 1,782 65,896

 325 71 52 20,435 20,411 20,411 7,499 12,912 0 0 24 348 56 941 + 1,532 23,759

 2   15,2 15,1 15,1 5,5 9,5    4 1 1,0 - 5 16,5
 824,991

 124,079 700,913 700,913 11,040 2,200 687,673 0 711,260 21,382 689,879

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.

 824,991 124,079 700,913 21,374 19,065 14,001 4,665 104 294 6,361 2,520 750,233 9,262 8,847 1,054 769,396

 38,774 4,336 34,439 1,004 977 953 0 2 22 433 135 36,987 506 448 84 38,025

 316,483 32,344 284,138 9,268 7,199 2,278 4,665 81 174 619 822 302,046 2,117 2,031 299 306,493

 33,033 8,679 24,354 636 681 680 0 1 0 405 98 26,173 284 259 41 26,757

 35,014 5,847 29,167 913 936 932 0 2 1 386 126 31,528 757 727 59 33,071

 62,382 11,524 50,858 1,625 1,374 1,274 0 7 92 411 270 54,537 2,085 2,074 74 58,770

 72,815 17,294 55,521 1,441 2,045 2,043 0 2 0 712 200 59,919 506 489 49 60,963

 67,764 8,134 59,630 1,925 1,592 1,589 0 3 1 412 238 63,797 1,024 924 151 65,896

 25,154 3,368 21,786 628 565 563 0 1 2 185 109 23,273 232 228 26 23,759

 15,9 1,4 14,5 4 4 4    4  15,9 2 3  16,5

H.4.1

4. Statement of Condition of Each Federal Reserve Bank on August 18, 2004 (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 assets pledged

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

 Aug 18, 2004

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.