Reserve Bank credit, related items, and

reserve balances of depository institutions

at Federal Reserve Banks

Reserve Bank credit 746,382 - 27 + 32,531 742,480

Securities held outright 684,980 + 1,914 + 33,197 684,993

U.S. Treasury1 684,980 + 1,914 + 33,207 684,993

Bills2 251,913 + 9 + 13,308 251,922

Notes and bonds, nominal2 416,694 + 1,892 + 17,841 416,694

Notes and bonds, inflation-indexed2 14,464 0 + 1,650 14,464

Inflation compensation3 1,908 + 13 + 407 1,912

Federal agency2 0 0 - 10 0

Repurchase agreements4 22,821 - 2,000 - 358 19,000

Loans to depository institutions 169 + 11 + 95 174

Primary credit 34 + 2 + 31 35

Secondary credit 0 0 0 0

Seasonal credit 135 + 9 + 64 139

Float -355 - 249 - 359 -480

Other Federal Reserve assets 38,767 + 297 - 44 38,793

Gold stock 11,045 0 + 1 11,045

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

Treasury currency outstanding5 35,811 + 14 + 791 35,811

Total factors supplying reserve funds 795,439 - 12 + 33,323 791,536

Currency in circulation5 724,747 - 1,451 + 33,207 725,369

Reverse repurchase agreements6 20,056 - 248 - 1,408 17,971

Foreign official and international accounts 20,056 - 248 - 1,086 17,971

Dealers 0 0 - 321 0

Treasury cash holdings 324 + 1 - 55 316

Deposits with F.R. Banks, other than reserve balances 16,876 + 1,655 - 1,679 17,735

U.S. Treasury, general account 6,195 + 1,497 - 952 7,067

Foreign official 132 + 40 + 44 132

Service-related 10,297 + 148 - 791 10,297

Required clearing balances 10,297 + 148 - 533 10,297

Adjustments to compensate for float 0 0 - 258 0

Other 252 - 30 + 20 238

Other liabilities and capital 21,411 - 174 + 1,089 21,245

Total factors, other than reserve balances,

absorbing reserve funds 783,415 - 216 + 31,155 782,636

Reserve balances with Federal Reserve Banks 12,024 + 204 + 2,169 8,900

Memo (off-balance-sheet items):

Marketable securities held in custody for foreign

 official and international accounts2,7 1,227,312 - 836 + 291,412 1,224,845

U.S. Treasury 993,485 - 6 + 243,347 991,966

Federal agency 233,827 - 829 + 48,065 232,879

Securities lent to dealers 926 - 613 + 301 1,945

FEDERAL RESERVE statistical release

 June 17, 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

 Jun 16, 2004 Week ended

 Jun 16, 2004 Jun 9, 2004 Jun 18, 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 11,041 0 + 1

Special drawing rights certificate account 2,200 0 0

Coin 744 + 18 - 193

Securities, repurchase agreements, and loans 704,167 - 10,172 + 29,150

Securities held outright 684,993 + 1,061 + 33,061

U.S. Treasury1 684,993 + 1,061 + 33,071

Bills2 251,922 + 14 + 13,166

Notes and bonds, nominal2 416,694 + 1,035 + 17,841

Notes and bonds, inflation-indexed2 14,464 0 + 1,650

Inflation compensation3 1,912 + 12 + 414

Federal agency2 0 0 - 10

Repurchase agreements4 19,000 - 11,250 - 4,000

Loans 174 + 17 + 88

Items in process of collection (921) 5,877 - 472 - 2,955

Bank premises 1,688 + 3 + 108

Other assets5 37,116 + 285 - 127

Total assets (921) 762,834 - 10,337 + 25,984

Liabilities

Federal Reserve notes, net of F.R. Bank holdings 690,614 - 1,318 + 31,809

Reverse repurchase agreements6 17,971 - 1,971 - 4,930

Deposits ( 0 ) 26,646 - 6,952 - 565

Depository institutions 19,208 - 8,843 + 408

U.S. Treasury, general account 7,067 + 1,852 - 1,019

Foreign official 132 + 47 + 36

Other ( 0 ) 238 - 9 + 9

Deferred availability cash items (921) 6,358 - 123 - 1,638

Other liabilities and accrued dividends7 2,477 + 2 + 151

Total liabilities (921) 744,065 - 10,363 + 24,826

Capital accounts

Capital paid in 9,219 + 18 + 562

Surplus 8,847 0 + 467

Other capital accounts 702 + 7 + 128

Total capital 18,768 + 25 + 1,157

H.4.1

2. Consolidated Statement of Condition of All Federal Reserve Banks

Millions of dollars

Change since

Wednesday

 Jun 18, 2003

Eliminations from

consolidation Wednesday

 Jun 16, 2004

Wednesday

 Jun 9, 2004

3. Maturity Distribution of Loans and Securities, June 16, 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 162 54,571 + 7,479 0 0 19,000 17,971

16 days to 90 days 11 153,376 - 13,180 0 0 0 0

91 days to 1 year 0 161,528 + 5,715 0 0 . . . . . . 

Over 1 year to 5 years . . . 187,210 + 1,040 0 0 . . . . . . 

Over 5 years to 10 years . . . 51,580 + 3 0 0 . . . . . . 

Over 10 years . . . 76,728 + 5 0 0 . . . . . . 

All 174 684,993 + 1,061 0 0 19,000 17,971

Assets, liabilities, and capital

Maturity
H.4.1

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

 11,041 2,200 744 704,167 684,993 684,993 251,922 433,071 0 19,000 174 6,798 1,688 37,116 0 763,755

Assets, liabilities, and capital

 4,651 874 26 316,022 297,022 297,022 109,237 187,785 0 19,000 0 341 192 13,364 -20,156 315,314

 494 115 30 32,165 32,165 32,165 11,830 20,336 0 0 0 450 96 1,674 + 2,540 37,565

 382 83 37 20,374 20,373 20,373 7,493 12,881 0 0 1 336 52 1,115 + 4,197 26,576

 452 104 37 29,270 29,270 29,270 10,765 18,505 0 0 0 363 154 2,272 - 2,054 30,597

 819 147 68 52,065 52,062 52,062 19,147 32,915 0 0 3 386 145 5,839 - 3,068 56,402

 894 166 77 46,198 46,194 46,194 16,989 29,205 0 0 4 644 279 2,107 + 2,907 53,272

 924 212 92 61,764 61,703 61,703 22,693 39,010 0 0 61 493 133 3,342 - 63 66,898

 325 71 57 20,139 20,124 20,124 7,401 12,723 0 0 14 301 53 960 + 344 22,249

 2   14,9 14,9 14,9 5,4 9,4    4 1 1,0 - 5 16,3
 809,308

 118,694 690,614 690,614 11,041 2,200 677,373 0 703,993 17,975 686,018

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.

 809,308 118,694 690,614 17,971 26,646 19,208 7,067 132 238 7,279 2,477 744,986 9,219 8,847 702 763,755

 37,895 4,088 33,807 844 1,113 1,108 0 2 3 642 136 36,541 506 448 69 37,565

 319,100 28,762 290,338 7,792 11,421 4,086 7,067 109 158 605 783 310,939 2,116 2,031 229 315,314

 31,260 8,605 22,655 534 2,249 2,248 0 1 0 477 97 26,012 278 259 27 26,576

 32,264 5,433 26,830 768 969 1,004 0 2 -37 429 130 29,127 732 727 11 30,597

 59,416 11,034 48,382 1,366 1,679 1,564 0 7 108 541 286 52,254 2,073 2,074 1 56,402

 67,527 19,039 48,487 1,212 1,529 1,527 0 2 0 813 195 52,236 509 489 38 53,272

 68,074 7,666 60,408 1,619 1,975 1,972 0 3 0 614 235 64,851 1,028 924 95 66,898

 23,529 3,191 20,339 528 582 578 0 1 3 216 107 21,772 232 228 18 22,249

 15,5 1,2 14,3 3 4 4    4  15,7 2 3  16,3

H.4.1

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

 Jun 16, 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.