FEDERAL RESERVE Statistical Release

H.4.1
Factors Affecting Reserve Balances of Depository Institutions and
Condition Statement of Federal Reserve Banks
                                                                                            August 14, 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           Aug 13, 2003  Aug 6, 2003 Aug 14, 2002 Aug 13, 2003
Federal Reserve Banks

Reserve Bank Credit                                         711,825    -   4,153    +  58,365      715,474
 Securities held outright                                   653,072    +      76    +  52,845      653,288       
    U.S. Treasury (1)                                       653,062    +      76    +  52,845      653,278
       Bills (2)                                            239,927    +      72    +  38,118      240,142
       Notes and bonds, nominal (2)                         398,853            0    +  13,840      398,853
       Notes and bonds, inflation-indexed (2)                12,814            0    +     572       12,814
       Inflation compensation (3)                             1,467    +       3    +     314        1,469
    Federal agency (2)                                           10            0            0           10      
 Repurchase agreements(4)                                    17,679    -   4,821    +   4,358       19,000
 Loans to depository institutions                               145    -       9    -      51          164
    Primary credit                                                7    -      14    +       7           16
    Secondary credit                                              0            0            0            0
    Seasonal credit                                             138    +       5    -      43          148
    Adjustment credit                                             0            0    -      15            0
 Float                                                          596    +     124    +   1,310        2,584
 Other Federal Reserve assets                                40,334    +     478    -      95       40,438
Gold stock                                                   11,043            0    +       1       11,043
Special drawing rights certificate account                    2,200            0            0        2,200
Treasury currency outstanding (5)                            35,116    +      14    +   1,020       35,116
       
Total factors supplying reserve funds                       760,184    -   4,139    +  59,386      763,833
                                                                   
Currency in circulation(5)                                  694,937    +     675    +  34,044      695,887
Reverse repurchase agreements (6)                            19,563    +     617    +  19,563       19,138
   Foreign official and international accounts               19,563    +     617    +  19,563       19,138
   Dealers                                                        0            0            0            0
Treasury cash holdings                                          369    +       4    -      12          358
Deposits with F.R.Banks, other than reserve balances         17,205    -     193    +   1,877       17,683       
  U.S. Treasury, general account                              5,611    -      28    +     715        5,720
  Foreign official                                              149    -      28    +      73          525
  Service-related                                            11,158    -     129    +   1,003       11,158
     Required clearing balances                              10,913    +      15    +     994       10,913
     Adjustments to compensate for float                        245    -     145    +       9          245
  Other                                                         287    -       7    +      86          281
Other liabilities and capital                                20,190    +     340    +     718       20,043

Total factors, other than reserve balances,                                        
   absorbing reserve funds                                  752,264    +   1,443    +  56,191      753,110

Reserve balances with Federal Reserve Banks                   7,920    -   5,582    +   3,195       10,723
                                                                

Memo (off-balance-sheet items):
  Marketable securities held in custody for foreign
         official and international accounts(2,7)           939,784    +   3,206     ------        937,857
     U.S. Treasury                                          753,537    +     937     ------        751,156
     Federal agency                                         186,246    +   2,268     ------        186,701
  Securities lent to dealers                                  2,131    -     634    +     444        2,689   


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 Aug 13, 2003      Aug 6, 2003     Aug 14, 2002

Assets
Gold certificate account                                        11,039                0        +       1
Special drawing rights certificate account                       2,200                0                0
Coin                                                               888        +      18        -     112
Securities, repurchase agreements, and loans                   672,451        +   1,024        +  55,785
   Securities held outright                                    653,288        +     254        +  52,906
      U.S. Treasury (1)                                        653,278        +     254        +  52,906       
         Bills (2)                                             240,142        +     250        +  38,180
         Notes and bonds, nominal (2)                          398,853                0        +  13,840
         Notes and bonds, inflation-indexed (2)                 12,814                0        +     572
         Inflation compensation (3)                              1,469        +       4        +     315
      Federal agency (2)                                            10                0                0
   Repurchase agreements (4)                                    19,000        +     750        +   3,000    
   Loans                                                           164        +      21        -     121
Items in process of collection                    (1,226)        9,284        -      53        +   2,665
Bank premises                                                    1,587        +       1        +      66
Other assets (5)                                                38,805        +     374        -     533
      Total assets                                (1,226)      736,255        +   1,364        +  57,873
                          
Liabilities
Federal Reserve notes net of FR Bank holdings                  662,014        -     212        +  32,912
Reverse repurchase agreements (6)                               19,138        +      76        +  19,138
Deposits                                              (0)       27,215        +   2,027        +   4,795       
  Depository institutions                                       20,690        +   2,350        +   3,732
  U.S. Treasury, general account                                 5,720        -     680        +     529
  Foreign official                                                 525        +     384        +     446
  Other                                               (0)          281        -      26        +      89
Deferred availability cash items                  (1,226)        7,844        -     699        +     695
Other liabilities and accrued dividends (7)                      2,159        +      34        -     241
      Total liabilities                           (1,226)      718,370        +   1,226        +  57,298
                          
Capital Accounts
Capital paid in                                                  8,724        +       3        +     437
Surplus                                                          8,380                0        +   1,068
Other capital accounts                                             780        +     134        -     933
      Total capital                                             17,884        +     137        +     573


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,    August 13, 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              40       52,151   +     870            0           0       14,000       19,138
16 days to 90 days         123      136,584   -     785            0           0        5,000            0
91 days to 1 year            0      162,065   +     165           10           0     ------      ------
Over 1 to 5 years     ------        177,685   +       1            0           0     ------      ------
Over 5 to 10 years    ------         44,825   +       1            0           0     ------      ------
Over 10 years         ------         79,967   +       1            0           0     ------      ------
                   		 	
All                        164      653,278   +     254           10           0       19,000      19,138

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    August 13, 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                                             888         33         33         46         39        111        114        114         61         33         59        151         94
Securities, repurchase agreements,
      and loans                              672,451     31,584    298,502     20,425     30,611     50,240     44,149     66,049     20,577     14,638     17,571     25,604     52,501
   Securities held outright                  653,288     31,584    279,497     20,424     30,611     50,240     44,134     66,015     20,553     14,582     17,557     25,602     52,488
      U.S. Treasury (1)                      653,278     31,583    279,493     20,424     30,611     50,239     44,133     66,014     20,553     14,582     17,556     25,602     52,487
         Bills (2)                           240,142     11,610    102,740      7,508     11,252     18,468     16,223     24,266      7,555      5,360      6,454      9,411     19,294
         Notes and bonds(3)                  413,136     19,973    176,753     12,916     19,359     31,771     27,910     41,748     12,998      9,222     11,103     16,191     33,193
         Federal agency (2)                       10          0          4          0          0          1          1          1          0          0          0          0          1
      Repurchase agreements(4)                19,000          0     19,000          0          0          0          0          0          0          0          0          0          0
      Loans                                      164          0          5          0          0          0         16         34         24         56         14          2         13
Items in process of collection                10,510        717        713        477        450        974      1,326        845        479        337        682        520      2,990
Bank premises                                  1,587         91        186         52        152        143        278        119         43        126         54        168        176
Other assets(5)                               38,805      1,794     14,135      1,081      2,388      5,982      2,277      3,617      1,009      1,147        935      1,129      3,311
Interdistrict settlement account                   0    - 4,380    +16,881    - 1,702    - 1,917    - 1,979    - 1,141    - 7,540    - 1,531    -   359    -   877    + 2,299    + 2,246
          Total Assets                       737,481     30,448    336,030     20,843     32,304     56,425     48,032     64,398     21,041     16,176     18,793     30,476     62,514

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    August 13, 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             777,982     31,566    333,820     25,716     31,887     58,577     63,509     67,084     23,582     15,548     21,332     35,423     69,938
  Less: notes held by F.R. Banks              115,968      5,093     23,519      7,881      5,293     10,230     20,355      9,576      4,582      1,621      4,807      7,498     15,513
    Federal Reserve notes, net                662,014     26,473    310,302     17,834     26,594     48,347     43,154     57,508     19,001     13,927     16,525     27,925     54,425
Reverse repurchase agreements (1)              19,138        925      8,188        598        897      1,472      1,293      1,934        602        427        514        750      1,538
Deposits                                       27,215      1,420     11,739      1,259      2,763      1,527      1,478      2,202        605        470        757        798      2,195
  Depository institutions                      20,690      1,418      5,360      1,258      2,760      1,405      1,474      2,199        604        469        755        797      2,192
  U.S. Treasury, general account                5,720          0      5,720          0          0          0          0          0          0          0          0          0          0
  Foreign official                                525          2        501          1          3          7          2          3          1          1          1          1          3
  Other                                           281          1        159          0          1        115          2          0          1          0          1          1          0
Deferred availability cash items                9,070        594      1,047        542        496        643        946        664        270        562        503        508      2,296
Other liabilities and accrued                 
  dividends (2)                                 2,159        123        668         91        115        223        180        217         95         86         87        108        164
   
    Total liabilities                         719,597     29,535    331,944     20,325     30,865     52,213     47,051     62,525     20,573     15,472     18,386     30,090     60,619
                              
Capital                    
Capital paid in                                 8,724        446      1,952        253        710      2,089        477        915        228        348        193        183        931
Surplus                                         8,380        436      1,809        233        702      2,073        475        858        199        340        201        186        868
Other capital                                     780         30        326         32         27         51         29        100         41         18         13         16         97
     Total liabilities and capital            737,481     30,448    336,030     20,843     32,304     56,425     48,032     64,398     21,041     16,176     18,793     30,476     62,514
                              

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
                                          Aug 13, 2003
              
Federal Reserve notes outstanding             777,982
   Less: Notes held by F.R. Banks
         not subject to collateralization     111,177
      Federal Reserve Notes to be
         collateralized                       666,805 
Collateral held against Federal Reserve            
   notes                                      666,805
   Gold certificate account                    11,039
   Special drawing rights                 
     certificate account                        2,200
   U.S. Treasury and agency securities   
     pledged (1)                              653,145
   Other eligible assets                          420

Memo:
Total U.S. Treasury and agency 
       securities (1)                         672,288
   Less:face value of securities under
         reverse repurchase agreements         19,142
      U.S. Treasury and agency securities
             eligible to be pledged           653,145
   

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.