FEDERAL RESERVE Statistical Release

H.4.1
Factors Affecting Reserve Balances of Depository Institutions and
Condition Statement of Federal Reserve Banks
                                                                                          November 18, 2004
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           Nov 17, 2004 Nov 10, 2004 Nov 19, 2003 Nov 17, 2004
Federal Reserve Banks

Reserve Bank Credit                                         778,583    +   3,816    +  50,601      774,190
 Securities held outright                                   709,268    +     445    +  47,305      710,134       
    U.S. Treasury (1)                                       709,268    +     445    +  47,315      710,134
       Bills (2)                                            259,732    +      94    +  16,846      259,739
       Notes and bonds, nominal (2)                         431,670    +     342    +  27,675      432,526
       Notes and bonds, inflation-indexed (2)                15,683            0    +   2,229       15,683
       Inflation compensation (3)                             2,182    +       8    +     565        2,186
    Federal agency (2)                                            0            0    -      10            0      
 Repurchase agreements(4)                                    27,107    +   3,464    +   3,036       24,000
 Loans to depository institutions                               511    +     426    +     446           82
    Primary credit                                              431    +     425    +     409            5
    Secondary credit                                              0            0            0            0
    Seasonal credit                                              80    +       1    +      37           77
 Float                                                          754    +     687    -   1,078          956
 Other Federal Reserve assets                                40,943    -   1,206    +     894       39,018
Gold stock                                                   11,043            0            0       11,043
Special drawing rights certificate account                    2,200            0            0        2,200
Treasury currency outstanding (5)                            36,363    +      14    +     989       36,363
       
Total factors supplying reserve funds                       828,189    +   3,830    +  51,590      823,795
                                                                   
Currency in circulation(5)                                  748,425    +   2,973    +  41,599      748,852
Reverse repurchase agreements (6)                            27,349    +     239    +   8,122       27,729
   Foreign official and international accounts               27,349    +     239    +   8,122       27,729
   Dealers                                                        0            0            0            0
Treasury cash holdings                                          300    -       3    -      42          295
Deposits with F.R.Banks, other than reserve balances         15,211    -     788    -   1,660       15,203       
  U.S. Treasury, general account                              4,824    -     188    +     173        4,851
  Foreign official                                               93    -      29    +      13           85
  Service-related                                             9,963    -     609    -   1,838        9,963
     Required clearing balances                               9,963    -     609    -   1,487        9,963
     Adjustments to compensate for float                          0            0    -     351            0
  Other                                                         331    +      38    -       8          304
Other liabilities and capital                                24,542    +     463    +   3,796       24,907

Total factors, other than reserve balances,                                        
   absorbing reserve funds                                  815,826    +   2,883    +  51,813      816,986

Reserve balances with Federal Reserve Banks                  12,363    +     947    -     223        6,809
                                                                

Memo (off-balance-sheet items):
  Marketable securities held in custody for foreign
         official and international accounts(2,7)         1,313,709    +   7,763    + 299,566    1,321,088
     U.S. Treasury                                        1,062,273    +   3,574    + 257,593    1,067,166
     Federal agency                                         251,436    +   4,189    +  41,974      253,922
  Securities lent to dealers                                  2,026    +     327    +      80        1,408   


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.


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 Nov 17, 2004     Nov 10, 2004     Nov 19, 2003

Assets
Gold certificate account                                        11,039                0                0
Special drawing rights certificate account                       2,200                0                0
Coin                                                               756        -      16        -      54
Securities, repurchase agreements, and loans                   734,216        -   4,271        +  49,456
   Securities held outright                                    710,134        +   1,225        +  47,421
      U.S. Treasury (1)                                        710,134        +   1,225        +  47,431       
         Bills (2)                                             259,739        +      19        +  16,781
         Notes and bonds, nominal (2)                          432,526        +   1,198        +  27,857
         Notes and bonds, inflation-indexed (2)                 15,683                0        +   2,229
         Inflation compensation (3)                              2,186        +       8        +     565
      Federal agency (2)                                             0                0        -      10
   Repurchase agreements (4)                                    24,000        -   5,500        +   2,000    
   Loans                                                            82        +       5        +      35
Items in process of collection                      (882)        8,228        +   1,157        -     470
Bank premises                                                    1,747        +       2        +     145
Other assets (5)                                                37,323        -   3,194        +     999
      Total assets                                  (882)      795,509        -   6,323        +  50,076
                          
Liabilities
Federal Reserve notes net of FR Bank holdings                  713,536        -     688        +  40,102
Reverse repurchase agreements (6)                               27,729        +     262        +   9,827
Deposits                                             (-1)       22,065        -   7,727        -   3,859       
  Depository institutions                                       16,825        -   8,017        -   3,540
  U.S. Treasury, general account                                 4,851        +     286        -     324
  Foreign official                                                  85        +       3        +       9
  Other                                              (-1)          304                0        -       4
Deferred availability cash items                    (883)        7,272        +     693        -     427
Other liabilities and accrued dividends (7)                      2,926        +      39        +     617
      Total liabilities                             (882)      773,529        -   7,419        +  46,261
                          
Capital Accounts
Capital paid in                                                 11,546        +     929        +   2,760
Surplus                                                          8,847                0        +     467
Other capital accounts                                           1,588        +     169        +     589
      Total capital                                             21,981        +   1,098        +   3,816


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,  November 17, 2004
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              71       51,157   +   9,223            0           0       24,000       27,729
16 days to 90 days          11      150,923   -  16,241            0           0            0            0
91 days to 1 year            0      171,751   +   2,886            0           0     ------      ------
Over 1 to 5 years     ------        206,675   +   2,882            0           0     ------      ------
Over 5 to 10 years    ------         53,998   +   3,668            0           0     ------      ------
Over 10 years         ------         75,630   -   1,192            0           0     ------      ------
                   		 	
All                         82      710,134   +   1,225            0           0       24,000      27,729

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  November 17, 2004
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        494      4,649        382        452        819        894        924        325        218        302        525      1,055
Special drawing rights certificate acct.       2,200        115        874         83        104        147        166        212         71         30         66         98        234
Coin                                             756         23         46         57         53         62         78        108         40         21         49        115        105
Securities, repurchase agreements,
      and loans                              734,216     33,346    331,923     21,126     30,344     53,973     47,901     63,988     20,863     15,512     18,681     32,381     64,177
   Securities held outright                  710,134     33,346    307,923     21,121     30,344     53,973     47,890     63,968     20,863     15,489     18,661     32,379     64,177
      U.S. Treasury (1)                      710,134     33,346    307,923     21,121     30,344     53,973     47,890     63,968     20,863     15,489     18,661     32,379     64,177
         Bills (2)                           259,739     12,197    112,626      7,725     11,099     19,741     17,516     23,397      7,631      5,665      6,825     11,843     23,473
         Notes and bonds(3)                  450,395     21,149    195,297     13,396     19,245     34,232     30,373     40,571     13,232      9,824     11,836     20,536     40,704
         Federal agency (2)                        0          0          0          0          0          0          0          0          0          0          0          0          0
      Repurchase agreements(4)                24,000          0     24,000          0          0          0          0          0          0          0          0          0          0
      Loans                                       82          0          0          5          0          0         11         20          0         23         20          2          0
Items in process of collection                 9,110        359        636        780        649        412        922        775        386        726        790        372      2,303
Bank premises                                  1,747         99        191         52        154        144        278        148         62        123         79        238        179
Other assets(5)                               37,323      1,697     13,191      1,038      2,362      6,079      2,107      3,385        982      1,129        756        896      3,703
Interdistrict settlement account                   0    + 2,654    -29,446    + 4,020    -   821    + 2,284    +10,127    +   403    + 1,604    - 1,040    + 1,399    + 2,012    + 6,804
          Total Assets                       796,391     38,786    322,064     27,537     33,297     63,919     62,472     69,944     24,334     16,719     22,122     36,637     78,560

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  November 17, 2004
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             839,757     37,618    326,180     32,976     34,632     65,601     73,614     72,358     25,256     16,313     24,445     41,710     89,054
  Less: notes held by F.R. Banks              126,221      4,153     31,002      8,589      5,731     12,419     17,027      9,343      3,073      1,916      4,665      7,854     20,449
    Federal Reserve notes, net                713,536     33,465    295,177     24,387     28,902     53,182     56,587     63,015     22,183     14,397     19,780     33,856     68,604
Reverse repurchase agreements (1)              27,729      1,302     12,024        825      1,185      2,108      1,870      2,498        815        605        729      1,264      2,506
Deposits                                       22,064        892      7,253        794        978      3,566      1,794      1,843        523        380        655        731      2,655
  Depository institutions                      16,825        878      2,157        793        975      3,465      1,792      1,839        513        379        654        731      2,651
  U.S. Treasury, general account                4,851          0      4,851          0          0          0          0          0          0          0          0          0          0
  Foreign official                                 85          2         62          1          2          7          2          3          1          1          1          0          4
  Other                                           304         12        184          0          1         95          1          1          9          0          1          0          0
Deferred availability cash items                8,155        553        819        818        464        470        902        465        189        615        530        353      1,976
Other liabilities and accrued                 
  dividends (2)                                 2,926        179        978        110        149        309        229        267        118         95        101        151        241
   
    Total liabilities                         774,411     36,391    316,251     26,933     31,679     59,634     61,382     68,088     23,828     16,092     21,795     36,355     75,982
                              
Capital                    
Capital paid in                                11,546      1,634      3,409        293        789      2,097        526        763        236        263        150        131      1,255
Surplus                                         8,847        448      2,031        259        727      2,074        489        924        228        346        162        111      1,048
Other capital                                   1,588        313        372         53        101        113         75        170         42         18         15         39        275
     Total liabilities and capital            796,391     38,786    322,064     27,537     33,297     63,919     62,472     69,944     24,334     16,719     22,122     36,637     78,560
                              

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
                                          Nov 17, 2004
              
Federal Reserve notes outstanding             839,757
   Less: Notes held by F.R. Banks
         not subject to collateralization     126,221
      Federal Reserve Notes to be
         collateralized                       713,536 
Collateral held against Federal Reserve            
   notes                                      713,536
   Gold certificate account                    11,039
   Special drawing rights                 
     certificate account                        2,200
   U.S. Treasury and agency securities   
     pledged (1)                              700,297
   Other assets pledged                             0

Memo:
Total U.S. Treasury and agency 
       securities (1)                         734,134
   Less:face value of securities under
         reverse repurchase agreements         27,746
      U.S. Treasury and agency securities
             eligible to be pledged           706,388
   

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.