Reserve Bank credit, related items, and

reserve balances of depository institutions

at Federal Reserve Banks

Reserve Bank credit 764,044 + 8,838 + 38,736 765,783

Securities held outright 694,851 + 57 + 40,970 694,858

U.S. Treasury1 694,851 + 57 + 40,980 694,858

Bills2 255,326 + 45 + 14,600 255,330

Notes and bonds, nominal2 422,541 0 + 23,688 422,541

Notes and bonds, inflation-indexed2 14,862 0 + 2,048 14,862

Inflation compensation3 2,121 + 11 + 643 2,124

Federal agency2 0 0 - 10 0

Repurchase agreements4 31,000 + 8,214 - 3,429 32,500

Loans to depository institutions 273 + 32 + 107 239

Primary credit 31 + 25 + 22 0

Secondary credit 0 0 0 0

Seasonal credit 242 + 8 + 85 239

Float -52 + 409 + 438 201

Other Federal Reserve assets 37,971 + 125 + 648 37,986

Gold stock 11,043 - 1 0 11,043

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

Treasury currency outstanding5 36,143 + 14 + 906 36,143

Total factors supplying reserve funds 813,430 + 8,851 + 39,642 815,170

Currency in circulation5 734,922 + 532 + 34,811 738,126

Reverse repurchase agreements6 22,442 + 1,475 + 2,420 23,203

Foreign official and international accounts 22,442 + 1,475 + 2,420 23,203

Dealers 0 0 0 0

Treasury cash holdings 328 + 7 - 7 320

Deposits with F.R. Banks, other than reserve balances 15,882 + 448 - 908 16,978

U.S. Treasury, general account 5,297 + 508 + 454 6,374

Foreign official 91 - 11 - 157 81

Service-related 10,207 - 1 - 1,248 10,207

Required clearing balances 10,206 - 1 - 706 10,206

Adjustments to compensate for float 0 0 - 543 0

Other 287 - 49 + 43 317

Other liabilities and capital 22,875 + 435 + 2,681 22,893

Total factors, other than reserve balances,

absorbing reserve funds 796,449 + 2,896 + 38,996 801,521

Reserve balances with Federal Reserve Banks 16,981 + 5,955 + 645 13,649

Memo (off-balance-sheet items):

Marketable securities held in custody for foreign

 official and international accounts2,7 1,282,616 + 4,947 + 329,428 1,288,410

U.S. Treasury 1,039,487 + 3,544 + 272,883 1,044,789

Federal agency 243,130 + 1,403 + 56,546 243,621

Securities lent to dealers 539 - 228 - 1,961 1,336

FEDERAL RESERVE statistical release

 September 2, 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

 Sep 1, 2004 Week ended

 Sep 1, 2004 Aug 25, 2004 Sep 3, 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 - 1 0

Special drawing rights certificate account 2,200 0 0

Coin 777 + 13 - 81

Securities, repurchase agreements, and loans 727,597 + 8,021 + 40,226

Securities held outright 694,858 + 18 + 40,917

U.S. Treasury1 694,858 + 18 + 40,927

Bills2 255,330 + 8 + 14,545

Notes and bonds, nominal2 422,541 0 + 23,688

Notes and bonds, inflation-indexed2 14,862 0 + 2,048

Inflation compensation3 2,124 + 10 + 645

Federal agency2 0 0 - 10

Repurchase agreements4 32,500 + 8,000 - 750

Loans 239 + 3 + 59

Items in process of collection (822) 6,842 + 1,627 - 6,012

Bank premises 1,718 0 + 129

Other assets5 36,330 + 208 + 881

Total assets (822) 786,503 + 9,869 + 35,143

Liabilities

Federal Reserve notes, net of F.R. Bank holdings 703,077 + 2,655 + 35,865

Reverse repurchase agreements6 23,203 + 2,281 + 4,446

Deposits ( 0 ) 30,690 + 3,482 - 3,627

Depository institutions 23,918 + 890 - 4,948

U.S. Treasury, general account 6,374 + 2,706 + 1,849

Foreign official 81 - 148 - 605

Other ( 0 ) 317 + 34 + 77

Deferred availability cash items (822) 6,641 + 1,116 - 4,353

Other liabilities and accrued dividends7 2,600 + 8 + 405

Total liabilities (822) 766,210 + 9,541 + 32,735

Capital accounts

Capital paid in 10,453 + 1 + 1,701

Surplus 8,847 + 13 + 467

Other capital accounts 993 + 315 + 241

Total capital 20,293 + 328 + 2,408

H.4.1

2. Consolidated Statement of Condition of All Federal Reserve Banks

Millions of dollars

Change since

Wednesday

 Sep 3, 2003

Eliminations from

consolidation Wednesday

 Sep 1, 2004

Wednesday

 Aug 25, 2004

3. Maturity Distribution of Loans and Securities, September 1, 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 30 49,340 - 8,649 0 0 32,500 23,203

16 days to 90 days 209 156,878 + 6,259 0 0 0 0

91 days to 1 year 0 164,194 + 1,320 0 0 . . . . . . 

Over 1 year to 5 years . . . 198,719 + 1,083 0 0 . . . . . . 

Over 5 years to 10 years . . . 49,808 + 2 0 0 . . . . . . 

Over 10 years . . . 75,919 + 3 0 0 . . . . . . 

All 239 694,858 + 18 0 0 32,500 23,203

Assets, liabilities, and capital

Maturity
H.4.1

4. Statement of Condition of Each Federal Reserve Bank on September 1, 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 2,200 777 727,597 694,858 694,858 255,330 439,528 0 32,500 239 7,663 1,718 36,330 0 787,325

Assets, liabilities, and capital

 4,649 874 40 333,800 301,300 301,300 110,715 190,585 0 32,500 0 532 190 12,981 -39,431 313,635

 494 115 18 32,629 32,629 32,629 11,990 20,639 0 0 0 407 97 1,649 + 4,933 40,342

 382 83 40 20,675 20,667 20,667 7,594 13,073 0 0 9 371 51 1,008 + 4,286 26,897

 452 104 45 29,691 29,691 29,691 10,910 18,781 0 0 0 690 154 2,262 + 1,124 34,522

 819 147 77 52,812 52,812 52,812 19,406 33,406 0 0 0 288 145 5,813 + 1,809 61,910

 894 166 99 46,874 46,859 46,859 17,219 29,641 0 0 15 849 279 2,074 +10,804 62,038

 924 212 100 62,651 62,592 62,592 23,000 39,592 0 0 59 556 141 3,274 - 1,217 66,641

 325 71 52 20,445 20,414 20,414 7,501 12,913 0 0 31 398 56 951 + 1,663 23,962

 2   15,2 15,1 15,1 5,5 9,5    4 1 1,0 - 5 16,5
 827,010

 123,933 703,077 703,077 11,039 2,200 689,838 0 727,358 23,212 704,146

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.

 827,010 123,933 703,077 23,203 30,690 23,918 6,374 81 317 7,462 2,600 767,032 10,453 8,847 993 787,325

 38,657 4,226 34,430 1,090 2,039 2,018 0 2 19 485 148 38,192 1,618 448 84 40,342

 317,869 33,219 284,650 10,061 12,918 6,321 6,374 58 165 684 839 309,152 2,144 2,031 309 313,635

 33,012 8,658 24,354 690 722 721 0 1 0 449 99 26,315 284 259 39 26,897

 35,138 5,755 29,384 991 1,835 1,832 0 2 0 644 129 32,983 762 727 49 34,522

 63,047 11,409 51,638 1,764 3,578 3,449 0 7 123 438 283 57,701 2,088 2,074 46 61,910

 73,222 17,056 56,165 1,565 2,140 2,133 0 2 5 896 210 60,976 517 489 56 62,038

 67,747 7,851 59,897 2,090 1,703 1,699 0 3 0 621 240 64,550 1,025 924 141 66,641

 25,324 3,373 21,951 682 580 578 0 1 1 168 111 23,492 232 228 9 23,962

 15,9 1,4 14,4 5 4 4    5  15,9 2 3  16,5

H.4.1

4. Statement of Condition of Each Federal Reserve Bank on September 1, 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

 Sep 1, 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.