Reserve Bank credit, related items, and

reserve balances of depository institutions

at Federal Reserve Banks

Reserve Bank credit 779,872 + 1,289 + 50,680 790,416

Securities held outright 711,264 + 1,996 + 47,765 711,595

U.S. Treasury1 711,264 + 1,996 + 47,775 711,595

Bills2 260,864 + 1,132 + 17,670 261,190

Notes and bonds, nominal2 432,526 + 856 + 27,315 432,526

Notes and bonds, inflation-indexed2 15,683 0 + 2,229 15,683

Inflation compensation3 2,191 + 9 + 562 2,196

Federal agency2 0 0 - 10 0

Repurchase agreements4 28,607 + 1,500 + 1,214 39,000

Loans to depository institutions 76 - 435 + 30 72

Primary credit 5 - 426 0 1

Secondary credit 0 0 0 0

Seasonal credit 71 - 9 + 29 71

Float 510 - 243 + 448 90

Other Federal Reserve assets 39,414 - 1,529 + 1,222 39,658

Gold stock 11,043 0 0 11,043

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

Treasury currency outstanding5 36,377 + 14 + 973 36,377

Total factors supplying reserve funds 829,491 + 1,302 + 51,651 840,035

Currency in circulation5 749,783 + 1,358 + 40,958 754,255

Reverse repurchase agreements6 27,655 + 306 + 9,427 28,084

Foreign official and international accounts 27,655 + 306 + 9,427 28,084

Dealers 0 0 0 0

Treasury cash holdings 293 - 7 - 14 283

Deposits with F.R. Banks, other than reserve balances 14,759 - 452 - 2,975 14,918

U.S. Treasury, general account 4,419 - 405 - 804 4,575

Foreign official 82 - 11 - 3 84

Service-related 9,963 0 - 2,201 9,963

Required clearing balances 9,963 0 - 1,885 9,963

Adjustments to compensate for float 0 0 - 316 0

Other 294 - 37 + 31 296

Other liabilities and capital 25,367 + 825 + 4,695 25,191

Total factors, other than reserve balances,

absorbing reserve funds 817,858 + 2,032 + 52,091 822,732

Reserve balances with Federal Reserve Banks 11,634 - 728 - 438 17,304

Memo (off-balance-sheet items):

Marketable securities held in custody for foreign

 official and international accounts2,7 1,316,747 + 3,038 + 288,243 1,319,141

U.S. Treasury 1,061,211 - 1,062 + 242,453 1,060,830

Federal agency 255,535 + 4,099 + 45,789 258,311

Securities lent to dealers 4,319 + 2,293 + 2,650 457

FEDERAL RESERVE statistical release

 November 26, 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

 Nov 24, 2004 Week ended

 Nov 24, 2004 Nov 17, 2004 Nov 26, 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 11,039 0 0

Special drawing rights certificate account 2,200 0 0

Coin 739 - 17 - 38

Securities, repurchase agreements, and loans 750,667 + 16,451 + 52,599

Securities held outright 711,595 + 1,461 + 47,070

U.S. Treasury1 711,595 + 1,461 + 47,080

Bills2 261,190 + 1,451 + 17,937

Notes and bonds, nominal2 432,526 0 + 26,353

Notes and bonds, inflation-indexed2 15,683 0 + 2,229

Inflation compensation3 2,196 + 10 + 562

Federal agency2 0 0 - 10

Repurchase agreements4 39,000 + 15,000 + 5,500

Loans 72 - 10 + 29

Items in process of collection (1,014) 7,047 - 1,181 - 260

Bank premises 1,753 + 6 + 148

Other assets5 37,958 + 635 + 1,094

Total assets (1,014) 811,403 + 15,894 + 53,544

Liabilities

Federal Reserve notes, net of F.R. Bank holdings 718,896 + 5,360 + 39,870

Reverse repurchase agreements6 28,084 + 355 + 10,129

Deposits ( 0 ) 32,275 + 10,210 - 679

Depository institutions 27,320 + 10,495 + 81

U.S. Treasury, general account 4,575 - 276 - 802

Foreign official 84 - 1 + 2

Other ( 0 ) 296 - 8 + 41

Deferred availability cash items (1,014) 6,957 - 315 - 563

Other liabilities and accrued dividends7 3,008 + 82 + 672

Total liabilities (1,014) 789,219 + 15,690 + 49,428

Capital accounts

Capital paid in 11,571 + 25 + 2,743

Surplus 8,847 0 + 467

Other capital accounts 1,765 + 177 + 905

Total capital 22,184 + 203 + 4,116

H.4.1

2. Consolidated Statement of Condition of All Federal Reserve Banks

Millions of dollars

Change since

Wednesday

 Nov 26, 2003

Eliminations from

consolidation Wednesday

 Nov 24, 2004

Wednesday

 Nov 17, 2004

3. Maturity Distribution of Loans and Securities, November 24, 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 66 51,078 - 79 0 0 35,000 28,084

16 days to 90 days 6 150,884 - 39 0 0 4,000 0

91 days to 1 year 0 173,321 + 1,570 0 0 . . . . . . 

Over 1 year to 5 years . . . 206,678 + 3 0 0 . . . . . . 

Over 5 years to 10 years . . . 54,001 + 3 0 0 . . . . . . 

Over 10 years . . . 75,633 + 3 0 0 . . . . . . 

All 72 711,595 + 1,461 0 0 39,000 28,084

Assets, liabilities, and capital

Maturity
H.4.1

4. Statement of Condition of Each Federal Reserve Bank on November 24, 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.

 11,039 2,200 739 750,667 711,595 711,595 261,190 450,405 0 39,000 72 8,061 1,753 37,958 0 812,417

Assets, liabilities, and capital

 4,649 874 47 347,557 308,557 308,557 113,256 195,302 0 39,000 0 336 193 13,412 -33,640 333,428

 494 115 22 33,415 33,415 33,415 12,265 21,150 0 0 0 351 99 1,728 + 3,070 39,293

 382 83 57 21,169 21,165 21,165 7,768 13,396 0 0 5 589 52 1,057 + 4,598 27,987

 452 104 54 30,407 30,407 30,407 11,161 19,246 0 0 0 659 154 2,399 - 132 34,097

 819 147 59 54,084 54,084 54,084 19,852 34,233 0 0 0 528 144 6,159 + 2,561 64,502

 894 166 73 47,998 47,988 47,988 17,614 30,374 0 0 10 621 278 2,151 +10,583 62,764

 924 212 103 64,123 64,099 64,099 23,528 40,572 0 0 24 543 147 3,451 + 1,057 70,560

 325 71 38 20,906 20,906 20,906 7,674 13,232 0 0 0 355 63 1,002 + 1,744 24,505

 2   15,5 15,5 15,5 5,6 9,8    5 1 1,1 - 7 16,9
 841,267

 122,372 718,896 718,896 11,039 2,200 705,657 0 750,595 28,154 722,441

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.

 841,267 122,372 718,896 28,084 32,275 27,320 4,575 84 296 7,970 3,008 790,233 11,571 8,847 1,765 812,417

 37,686 4,108 33,578 1,319 1,197 1,189 0 2 7 587 186 36,867 1,637 448 340 39,293

 327,685 29,894 297,790 12,178 15,689 10,869 4,575 61 184 675 1,000 327,332 3,425 2,031 641 333,428

 32,850 8,196 24,654 835 1,072 1,071 0 1 0 708 113 27,383 293 259 53 27,987

 34,676 5,473 29,203 1,200 1,365 1,362 0 2 1 558 155 32,481 790 727 99 34,097

 65,720 12,501 53,219 2,135 4,076 3,975 0 7 93 459 330 60,219 2,098 2,074 111 64,502

 73,331 16,640 56,691 1,894 1,881 1,878 0 2 1 965 234 61,665 528 489 82 62,764

 72,645 9,017 63,629 2,530 1,939 1,936 0 3 0 436 272 68,805 763 924 68 70,560

 25,210 2,918 22,292 825 628 621 0 1 7 154 124 24,023 236 228 18 24,505

 16,4 1,9 14,5 6 3 3    6  16,2 2 3  16,9

H.4.1

4. Statement of Condition of Each Federal Reserve Bank on November 24, 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

 Nov 24, 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.