Reserve Bank credit, related items, and

reserve balances of depository institutions

at Federal Reserve Banks

Reserve Bank credit 715,493 - 2,907 + 58,741 716,172

Securities held outright 652,538 + 95 + 60,015 652,700

U.S. Treasury1 652,528 + 95 + 60,015 652,690

Bills2 239,385 + 100 + 42,679 239,550

Notes and bonds, nominal2 398,853 0 + 15,864 398,853

Notes and bonds, inflation-indexed2 12,814 0 + 1,165 12,814

Inflation compensation3 1,475 - 5 + 306 1,473

Federal agency2 10 0 0 10

Repurchase agreements4 22,893 - 3,107 - 1,678 24,000

Loans to depository institutions 114 + 15 - 65 121

Primary credit 6 - 2 + 6 8

Secondary credit 1 + 1 + 1 0

Seasonal credit 107 + 16 - 70 113

Adjustment credit 0 0 - 2 0

Float 462 - 164 + 772 107

Other Federal Reserve assets 39,486 + 253 - 303 39,244

Gold stock 11,044 0 0 11,044

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

Treasury currency outstanding5 35,008 + 14 + 1,012 35,008

Total factors supplying reserve funds 763,744 - 2,894 + 59,752 764,424

Currency in circulation5 694,437 - 3,338 + 32,996 694,663

Reverse repurchase agreements6 20,067 - 777 + 20,067 20,346

Foreign official and international accounts 20,067 - 777 + 20,067 20,346

Dealers 0 0 0 0

Treasury cash holdings 327 0 - 65 329

Deposits with F.R. Banks, other than reserve balances 17,955 + 209 + 1,997 17,230

U.S. Treasury, general account 6,479 + 261 + 984 5,724

Foreign official 109 - 170 + 11 128

Service-related 11,059 + 39 + 939 11,059

Required clearing balances 10,860 + 21 + 956 10,860

Adjustments to compensate for float 199 + 18 - 18 199

Other 307 + 78 + 63 318

Other liabilities and capital 19,878 + 61 - 32 19,649

Total factors, other than reserve balances,

absorbing reserve funds 752,664 - 3,844 + 54,965 752,218

Reserve balances with Federal Reserve Banks 11,080 + 950 + 4,788 12,206

Memo (off-balance-sheet items):

Marketable securities held in custody for foreign

 official and international accounts2,7 941,453 - 4,167 . . . 939,558

U.S. Treasury 757,619 - 3,274 . . . 756,862

Federal agency 183,834 - 892 . . . 182,696

Securities lent to dealers 868 - 727 - 21 661

FEDERAL RESERVE statistical release

 July 17, 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

 Jul 16, 2003 Week ended

 Jul 16, 2003 Jul 9, 2003 Jul 17, 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 0

Special drawing rights certificate account 2,200 0 0

Coin 872 - 2 - 25

Securities, repurchase agreements, and loans 676,822 - 4,993 + 62,464

Securities held outright 652,700 + 239 + 58,279

U.S. Treasury1 652,690 + 239 + 58,279

Bills2 239,550 + 245 + 40,946

Notes and bonds, nominal2 398,853 0 + 15,864

Notes and bonds, inflation-indexed2 12,814 0 + 1,102

Inflation compensation3 1,473 - 6 + 368

Federal agency2 10 0 0

Repurchase agreements4 24,000 - 5,250 + 4,250

Loans 121 + 17 - 66

Items in process of collection (1,189) 8,534 - 1,576 + 1,327

Bank premises 1,585 + 3 + 65

Other assets5 37,607 - 105 - 679

Total assets (1,189) 738,658 - 6,674 + 63,150

Liabilities

Federal Reserve notes, net of F.R. Bank holdings 660,851 - 2,678 + 32,250

Reverse repurchase agreements6 20,346 + 92 + 20,346

Deposits ( 0 ) 29,600 - 3,879 + 9,957

Depository institutions 23,429 - 3,142 + 9,172

U.S. Treasury, general account 5,724 - 632 + 724

Foreign official 128 - 199 - 28

Other ( 0 ) 318 + 93 + 88

Deferred availability cash items (1,189) 8,211 - 184 + 526

Other liabilities and accrued dividends7 2,080 - 27 - 285

Total liabilities (1,189) 721,089 - 6,675 + 62,794

Capital accounts

Capital paid in 8,662 + 2 + 401

Surplus 8,378 0 + 1,066

Other capital accounts 529 0 - 1,112

Total capital 17,569 + 2 + 356

H.4.1

2. Consolidated Statement of Condition of All Federal Reserve Banks

Millions of dollars

Change since

Wednesday

 Jul 17, 2002

Eliminations from

consolidation Wednesday

 Jul 16, 2003

Wednesday

 Jul 9, 2003

3. Maturity Distribution of Loans and Securities, July 16, 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 64 46,121 + 5,453 0 0 19,000 20,346

16 days to 90 days 57 141,599 - 5,715 0 0 5,000 0

91 days to 1 year 0 158,993 + 508 10 0 . . . . . . 

Over 1 year to 5 years . . . 179,352 - 1 0 0 . . . . . . 

Over 5 years to 10 years . . . 46,657 - 2 0 0 . . . . . . 

Over 10 years . . . 79,969 - 2 0 0 . . . . . . 

All 121 652,690 + 239 10 0 24,000 20,346

Assets, liabilities, and capital

Maturity
H.4.1

4. Statement of Condition of Each Federal Reserve Bank on July 16, 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 2,200 872 676,822 652,700 652,690 239,550 413,141 10 24,000 121 9,723 1,585 37,607 0 739,847

Assets, liabilities, and capital

 4,706 874 32 303,251 279,246 279,242 102,487 176,755 4 24,000 5 601 186 13,624 +11,694 334,968

 495 115 37 31,555 31,555 31,555 11,581 19,974 0 0 0 494 91 1,734 - 4,117 30,404

 380 83 49 20,406 20,406 20,406 7,489 12,916 0 0 0 409 52 1,108 - 2,184 20,303

 477 104 35 30,584 30,584 30,584 11,225 19,359 0 0 0 544 152 2,326 - 3,251 30,971

 808 147 109 50,195 50,195 50,194 18,422 31,772 1 0 0 921 143 5,876 + 2,223 60,422

 863 166 112 44,104 44,094 44,093 16,183 27,910 1 0 10 1,132 279 2,183 - 1,764 47,074

 982 212 109 65,982 65,956 65,955 24,207 41,748 1 0 27 770 118 3,491 - 6,911 64,755

 331 71 53 20,542 20,535 20,534 7,537 12,998 0 0 7 458 43 970 - 998 21,470

 2   14,6 14,5 14,5 5,3 9,2    5 1 1,1 - 7 15,9
 770,017

 104,446 665,571 665,571 11,039 2,200 652,331 0 676,700 20,351 656,349

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.

 770,017 109,165 660,851 20,346 29,600 23,429 5,724 128 318 9,400 2,080 722,278 8,662 8,378 529 739,847

 31,784 4,962 26,822 984 952 945 0 2 6 626 120 29,502 446 436 19 30,404

 332,556 23,378 309,178 8,705 11,594 5,601 5,724 105 164 888 660 331,024 1,900 1,809 234 334,968

 24,226 7,591 16,634 636 2,008 2,007 0 1 0 425 86 19,790 252 233 28 20,303

 31,091 4,586 26,506 953 1,408 1,404 0 3 1 575 111 29,552 706 702 11 30,971

 58,317 9,136 49,181 1,565 4,619 4,468 0 7 144 685 211 56,261 2,090 2,071 0 60,422

 62,163 20,063 42,099 1,375 1,501 1,499 0 2 0 958 172 46,105 477 475 17 47,074

 65,403 8,004 57,399 2,056 2,450 2,446 0 3 1 798 205 62,909 912 858 77 64,755

 23,276 4,021 19,255 640 664 662 0 1 0 351 93 21,002 228 199 41 21,470

 15,1 1,3 13,7 4 4 4    4  15,2 3 3  15,9

H.4.1

4. Statement of Condition of Each Federal Reserve Bank on July 16, 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

 Jul 16, 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.