FEDERAL RESERVE Statistical Release

H.4.1
Factors Affecting Reserve Balances of Depository Institutions and
Condition Statement of Federal Reserve Banks
                                                                                            October 7, 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            Oct 6, 2004 Sep 29, 2004  Oct 8, 2003  Oct 6, 2004
Federal Reserve Banks

Reserve Bank Credit                                         764,916    -     897    +  49,947      761,850
 Securities held outright                                   700,691    +   2,089    +  44,449      701,586       
    U.S. Treasury (1)                                       700,691    +   2,089    +  44,459      701,586
       Bills (2)                                            258,810    +   1,748    +  17,171      258,849
       Notes and bonds, nominal (2)                         424,483    +     342    +  24,888      425,339
       Notes and bonds, inflation-indexed (2)                15,262            0    +   1,808       15,262
       Inflation compensation (3)                             2,135    -       2    +     592        2,136
    Federal agency (2)                                            0            0    -      10            0      
 Repurchase agreements(4)                                    24,464    -   3,107    +   5,214       21,000
 Loans to depository institutions                               201    -      53    +      74          196
    Primary credit                                                2    -       7            0            2
    Secondary credit                                              0            0            0            0
    Seasonal credit                                             199    -      46    +      74          194
 Float                                                            0    -     117    +     355         -544
 Other Federal Reserve assets                                39,560    +     291    -     145       39,612
Gold stock                                                   11,043            0            0       11,043
Special drawing rights certificate account                    2,200            0            0        2,200
Treasury currency outstanding (5)                            36,281    +      14    +   1,000       36,281
       
Total factors supplying reserve funds                       814,440    -     884    +  50,947      811,374
                                                                   
Currency in circulation(5)                                  738,570    +   1,728    +  39,580      740,822
Reverse repurchase agreements (6)                            24,888    +     597    +   5,566       24,736
   Foreign official and international accounts               24,888    +     597    +   5,566       24,736
   Dealers                                                        0            0            0            0
Treasury cash holdings                                          291    -       8    -      67          295
Deposits with F.R.Banks, other than reserve balances         16,480    +     841    -     611       16,709       
  U.S. Treasury, general account                              5,334    +     216    +     149        5,576
  Foreign official                                              101    -       9    -       4           80
  Service-related                                            10,720    +     557    -     736       10,720
     Required clearing balances                              10,720    +     557    -     532       10,720
     Adjustments to compensate for float                          0            0    -     204            0
  Other                                                         325    +      78    -      20          334
Other liabilities and capital                                23,448    +      54    +   2,870       23,158

Total factors, other than reserve balances,                                        
   absorbing reserve funds                                  803,677    +   3,212    +  47,339      805,720

Reserve balances with Federal Reserve Banks                  10,763    -   4,096    +   3,608        5,654
                                                                

Memo (off-balance-sheet items):
  Marketable securities held in custody for foreign
         official and international accounts(2,7)         1,292,097    +     517    + 300,329    1,289,034
     U.S. Treasury                                        1,049,404    +   1,765    + 250,737    1,045,201
     Federal agency                                         242,694    -   1,247    +  49,593      243,833
  Securities lent to dealers                                  1,597    +     111    -     741        1,766   


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  Oct 6, 2004     Sep 29, 2004      Oct 8, 2003

Assets
Gold certificate account                                        11,039                0                0
Special drawing rights certificate account                       2,200                0                0
Coin                                                               764        -      13        -      62
Securities, repurchase agreements, and loans                   722,782        -   5,586        +  46,637
   Securities held outright                                    701,586        +   2,969        +  45,306
      U.S. Treasury (1)                                        701,586        +   2,969        +  45,316       
         Bills (2)                                             258,849        +   1,770        +  17,177
         Notes and bonds, nominal (2)                          425,339        +   1,198        +  25,744
         Notes and bonds, inflation-indexed (2)                 15,262                0        +   1,808
         Inflation compensation (3)                              2,136        +       1        +     588
      Federal agency (2)                                             0                0        -      10
   Repurchase agreements (4)                                    21,000        -   8,500        +   1,250    
   Loans                                                           196        -      55        +      81
Items in process of collection                      (973)        6,609        +   1,007        -   1,142
Bank premises                                                    1,730        -       1        +     135
Other assets (5)                                                37,970        +      83        -     471
      Total assets                                  (973)      783,093        -   4,512        +  45,097
                          
Liabilities
Federal Reserve notes net of FR Bank holdings                  705,595        +   2,144        +  38,421
Reverse repurchase agreements (6)                               24,736        +     399        +   5,785
Deposits                                              (0)       22,452        -   8,252        -   1,166       
  Depository institutions                                       16,462        -   8,481        -   1,806
  U.S. Treasury, general account                                 5,576        +     140        +     641
  Foreign official                                                  80        -       1        -       1
  Other                                               (0)          334        +      89                0
Deferred availability cash items                    (973)        7,153        +   1,215        -     805
Other liabilities and accrued dividends (7)                      2,792        +      33        +     545
      Total liabilities                             (973)      762,728        -   4,460        +  42,779
                          
Capital Accounts
Capital paid in                                                 10,508        +       6        +   1,761
Surplus                                                          8,847                0        +     467
Other capital accounts                                           1,011        -      57        +      91
      Total capital                                             20,366        -      50        +   2,318


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,    October 6, 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              17       44,846   -   8,401            0           0       21,000       24,736
16 days to 90 days         179      161,100   +   8,278            0           0            0            0
91 days to 1 year            0      166,867   +     775            0           0     ------      ------
Over 1 to 5 years     ------        201,940   +   2,316            0           0     ------      ------
Over 5 to 10 years    ------         50,517           0            0           0     ------      ------
Over 10 years         ------         76,316   +       1            0           0     ------      ------
                   		 	
All                        196      701,586   +   2,969            0           0       21,000      24,736

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    October 6, 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                                             764         18         45         44         43         74         83         99         50         22         49        127        109
Securities, repurchase agreements,
      and loans                              722,782     32,945    325,217     20,876     29,979     53,324     47,327     63,261     20,628     15,364     18,465     31,993     63,404
   Securities held outright                  701,586     32,945    304,217     20,867     29,979     53,324     47,313     63,198     20,612     15,302     18,436     31,989     63,404
      U.S. Treasury (1)                      701,586     32,945    304,217     20,867     29,979     53,324     47,313     63,198     20,612     15,302     18,436     31,989     63,404
         Bills (2)                           258,849     12,155    112,240      7,699     11,061     19,674     17,456     23,317      7,605      5,646      6,802     11,802     23,393
         Notes and bonds(3)                  442,737     20,790    191,977     13,168     18,918     33,650     29,857     39,881     13,007      9,657     11,634     20,187     40,011
         Federal agency (2)                        0          0          0          0          0          0          0          0          0          0          0          0          0
      Repurchase agreements(4)                21,000          0     21,000          0          0          0          0          0          0          0          0          0          0
      Loans                                      196          0          0          9          0          0         14         64         16         61         28          4          0
Items in process of collection                 7,582        428        460        392        451        442        810        347        355        448        530        419      2,500
Bank premises                                  1,730         97        191         51        154        144        278        145         59        123         77        230        180
Other assets(5)                               37,970      1,718     13,689      1,094      2,328      5,935      2,183      3,424        991      1,121        784        977      3,725
Interdistrict settlement account                   0    + 3,229    -31,819    + 4,027    -   119    +   675    +10,084    -   800    + 1,553    -   607    + 2,046    + 2,858    + 8,872
          Total Assets                       784,067     39,043    313,306     26,949     33,393     61,560     61,825     67,613     24,032     16,719     22,319     37,227     80,078

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    October 6, 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             830,891     38,067    320,395     33,214     34,984     64,445     72,980     69,277     25,223     16,142     24,552     42,329     89,284
  Less: notes held by F.R. Banks              125,297      4,314     33,945      8,955      5,642     11,915     16,593      8,446      3,177      1,590      4,544      7,721     18,455
    Federal Reserve notes, net                705,595     33,752    286,449     24,259     29,342     52,531     56,387     60,831     22,045     14,552     20,009     34,608     70,829
Reverse repurchase agreements (1)              24,736      1,162     10,726        736      1,057      1,880      1,668      2,228        727        540        650      1,128      2,235
Deposits                                       22,452      1,226      9,878        674        822      2,169      1,545      1,666        462        411        709        658      2,231
  Depository institutions                      16,462      1,224      4,081        673        819      2,000      1,541      1,663        459        410        707        657      2,227
  U.S. Treasury, general account                5,576          0      5,576          0          0          0          0          0          0          0          0          0          0
  Foreign official                                 80          2         57          1          2          7          2          3          1          1          1          0          4
  Other                                           334          0        164          0          0        162          2          0          2          0          1          0          0
Deferred availability cash items                8,126        504        866        598        504        484        937        554        193        511        534        410      2,029
Other liabilities and accrued                 
  dividends (2)                                 2,792        166        900        106        139        303        232        259        117         91        101        149        230
   
    Total liabilities                         763,701     36,811    308,819     26,373     31,864     57,366     60,769     65,539     23,543     16,106     22,003     36,953     77,555
                              
Capital                    
Capital paid in                                10,508      1,634      2,163        286        762      2,089        518      1,025        238        263        149        131      1,249
Surplus                                         8,847        448      2,031        259        727      2,074        489        924        228        346        162        111      1,048
Other capital                                   1,011        150        293         32         40         31         50        125         22          5          5         32        227
     Total liabilities and capital            784,067     39,043    313,306     26,949     33,393     61,560     61,825     67,613     24,032     16,719     22,319     37,227     80,078
                              

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
                                           Oct 6, 2004
              
Federal Reserve notes outstanding             830,891
   Less: Notes held by F.R. Banks
         not subject to collateralization     125,297
      Federal Reserve Notes to be
         collateralized                       705,595 
Collateral held against Federal Reserve            
   notes                                      705,595
   Gold certificate account                    11,039
   Special drawing rights                 
     certificate account                        2,200
   U.S. Treasury and agency securities   
     pledged (1)                              692,356
   Other assets pledged                             0

Memo:
Total U.S. Treasury and agency 
       securities (1)                         722,586
   Less:face value of securities under
         reverse repurchase agreements         24,747
      U.S. Treasury and agency securities
             eligible to be pledged           697,839
   

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.