FEDERAL RESERVE Statistical Release

H.4.1
Factors Affecting Reserve Balances of Depository Institutions and
Condition Statement of Federal Reserve Banks
                                                                                           October 28, 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 27, 2004 Oct 20, 2004 Oct 29, 2003 Oct 27, 2004
Federal Reserve Banks

Reserve Bank Credit                                         770,604    +      75    +  43,772      772,409
 Securities held outright                                   705,165    +   2,504    +  47,199      706,730       
    U.S. Treasury (1)                                       705,165    +   2,504    +  47,209      706,730
       Bills (2)                                            259,117    +      49    +  16,956      259,201
       Notes and bonds, nominal (2)                         428,645    +   2,454    +  27,886      430,125
       Notes and bonds, inflation-indexed (2)                15,262            0    +   1,808       15,262
       Inflation compensation (3)                             2,141    +       2    +     559        2,142
    Federal agency (2)                                            0            0    -      10            0      
 Repurchase agreements(4)                                    24,000    -   2,964    -   4,071       23,750
 Loans to depository institutions                               198    +      25    +     108          140
    Primary credit                                               51    +      46    +      32            0
    Secondary credit                                              0            0            0            0
    Seasonal credit                                             147    -      21    +      76          140
 Float                                                          141    -     247    +     259          434
 Other Federal Reserve assets                                41,100    +     758    +     278       41,356
Gold stock                                                   11,043            0            0       11,043
Special drawing rights certificate account                    2,200            0            0        2,200
Treasury currency outstanding (5)                            36,323    +      14    +   1,018       36,323
       
Total factors supplying reserve funds                       820,170    +      89    +  44,789      821,976
                                                                   
Currency in circulation(5)                                  740,688    -     716    +  38,683      742,412
Reverse repurchase agreements (6)                            26,297    +     866    +   7,123       25,761
   Foreign official and international accounts               26,297    +     866    +   7,123       25,761
   Dealers                                                        0            0            0            0
Treasury cash holdings                                          301    +       2    -      98          299
Deposits with F.R.Banks, other than reserve balances         15,814    -     316    -   1,105       15,486       
  U.S. Treasury, general account                              4,948    -     284    -     177        4,582
  Foreign official                                               86    -      13    +       5          113
  Service-related                                            10,489    -       2    -     942       10,489
     Required clearing balances                              10,488    -       3    -     851       10,488
     Adjustments to compensate for float                          0            0    -      92            0
  Other                                                         291    -      17    +       8          303
Other liabilities and capital                                24,102    +     222    +   3,596       23,608

Total factors, other than reserve balances,                                        
   absorbing reserve funds                                  807,202    +      57    +  48,199      807,566

Reserve balances with Federal Reserve Banks                  12,968    +      32    -   3,410       14,410
                                                                

Memo (off-balance-sheet items):
  Marketable securities held in custody for foreign
         official and international accounts(2,7)         1,299,081    +   4,839    + 303,461    1,298,001
     U.S. Treasury                                        1,051,206    +   3,583    + 256,551    1,049,867
     Federal agency                                         247,874    +   1,256    +  46,909      248,134
  Securities lent to dealers                                  1,553    +   1,180    +     478        2,831   


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 27, 2004     Oct 20, 2004     Oct 29, 2003

Assets
Gold certificate account                                        11,039                0                0
Special drawing rights certificate account                       2,200                0                0
Coin                                                               767        +       9        -      59
Securities, repurchase agreements, and loans                   730,620        +   6,378        +  43,856
   Securities held outright                                    706,730        +   3,917        +  48,048
      U.S. Treasury (1)                                        706,730        +   3,917        +  48,058       
         Bills (2)                                             259,201        +     123        +  16,893
         Notes and bonds, nominal (2)                          430,125        +   3,792        +  28,803
         Notes and bonds, inflation-indexed (2)                 15,262                0        +   1,808
         Inflation compensation (3)                              2,142        +       2        +     555
      Federal agency (2)                                             0                0        -      10
   Repurchase agreements (4)                                    23,750        +   2,500        -   4,250    
   Loans                                                           140        -      39        +      58
Items in process of collection                      (839)        6,630        -     782        +     187
Bank premises                                                    1,748        +      13        +     152
Other assets (5)                                                39,657        +     763        +     368
      Total assets                                  (839)      792,661        +   6,382        +  44,503
                          
Liabilities
Federal Reserve notes net of FR Bank holdings                  707,151        +     432        +  37,784
Reverse repurchase agreements (6)                               25,761        -      82        +   6,475
Deposits                                              (0)       29,945        +   6,442        -   2,656       
  Depository institutions                                       24,947        +   6,604        -   1,613
  U.S. Treasury, general account                                 4,582        -     203        -   1,090
  Foreign official                                                 113        +      37        +      28
  Other                                               (0)          303        +       4        +      20
Deferred availability cash items                    (839)        6,196        -     253        -     603
Other liabilities and accrued dividends (7)                      2,849        +      52        +     546
      Total liabilities                             (839)      771,902        +   6,591        +  41,547
                          
Capital Accounts
Capital paid in                                                 10,527        +       4        +   1,785
Surplus                                                          8,847                0        +     467
Other capital accounts                                           1,385        -     213        +     704
      Total capital                                             20,760        -     208        +   2,957


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 27, 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             127       35,892   -  14,743            0           0       23,750       25,761
16 days to 90 days          14      170,306   +  14,881            0           0            0            0
91 days to 1 year            0      169,363   +   1,578            0           0     ------      ------
Over 1 to 5 years     ------        203,509   +   1,397            0           0     ------      ------
Over 5 to 10 years    ------         50,942   +     403            0           0     ------      ------
Over 10 years         ------         76,718   +     401            0           0     ------      ------
                   		 	
All                        140      706,730   +   3,917            0           0       23,750      25,761

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 27, 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                                             767         19         45         49         43         70         85        108         47         24         47        119        112
Securities, repurchase agreements,
      and loans                              730,620     33,186    330,197     21,028     30,199     53,715     47,675     63,700     20,769     15,463     18,594     32,226     63,869
   Securities held outright                  706,730     33,186    306,447     21,020     30,199     53,715     47,660     63,661     20,763     15,415     18,572     32,223     63,869
      U.S. Treasury (1)                      706,730     33,186    306,447     21,020     30,199     53,715     47,660     63,661     20,763     15,415     18,572     32,223     63,869
         Bills (2)                           259,201     12,171    112,393      7,709     11,076     19,700     17,480     23,348      7,615      5,653      6,811     11,818     23,425
         Notes and bonds(3)                  447,529     21,015    194,055     13,311     19,123     34,014     30,180     40,313     13,148      9,761     11,760     20,405     40,445
         Federal agency (2)                        0          0          0          0          0          0          0          0          0          0          0          0          0
      Repurchase agreements(4)                23,750          0     23,750          0          0          0          0          0          0          0          0          0          0
      Loans                                      140          0          0          8          0          0         15         39          6         48         22          3          0
Items in process of collection                 7,469        351        504        402        496        341        648        798        467        531        606        236      2,090
Bank premises                                  1,748         98        196         52        155        144        278        145         60        123         78        238        180
Other assets(5)                               39,657      1,807     14,292      1,108      2,441      6,175      2,273      3,593      1,045      1,171        826      1,021      3,905
Interdistrict settlement account                   0    + 2,962    -30,198    + 3,698    +   305    + 1,652    + 9,600    +   132    + 1,504    -   735    + 1,623    + 2,380    + 7,079
          Total Assets                       793,500     39,032    320,560     26,801     34,194     63,064     61,618     69,611     24,287     16,826     22,141     36,842     78,524

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 27, 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             833,705     37,754    322,039     33,157     34,816     65,202     73,106     70,769     25,331     16,082     24,548     42,031     88,871
  Less: notes held by F.R. Banks              126,554      4,429     32,515      8,945      5,720     11,989     17,439      8,831      3,178      1,514      4,654      7,847     19,493
    Federal Reserve notes, net                707,151     33,325    289,523     24,212     29,097     53,212     55,668     61,938     22,153     14,568     19,894     34,184     69,378
Reverse repurchase agreements (1)              25,761      1,210     11,170        766      1,101      1,958      1,737      2,320        757        562        677      1,175      2,328
Deposits                                       29,945      1,494     13,610        677      1,845      2,928      2,038      2,540        591        384        760        739      2,339
  Depository institutions                      24,947      1,487      8,760        676      1,841      2,809      2,035      2,535        590        383        758        738      2,336
  U.S. Treasury, general account                4,582          0      4,582          0          0          0          0          0          0          0          0          0          0
  Foreign official                                113          2         90          1          2          7          2          3          1          1          1          0          4
  Other                                           303          6        177          0          1        112          2          1          1          0          1          0          0
Deferred availability cash items                7,035        509        779        437        451        388        868        441        178        596        384        320      1,685
Other liabilities and accrued                 
  dividends (2)                                 2,849        173        918        109        143        312        235        262        118         92        104        144        239
   
    Total liabilities                         772,741     36,711    316,000     26,200     32,636     58,798     60,546     67,501     23,798     16,201     21,818     36,562     75,969
                              
Capital                    
Capital paid in                                10,527      1,634      2,165        292        762      2,097        518      1,028        240        263        149        131      1,248
Surplus                                         8,847        448      2,031        259        727      2,074        489        924        228        346        162        111      1,048
Other capital                                   1,385        239        365         50         68         94         65        158         21         16         11         38        258
     Total liabilities and capital            793,500     39,032    320,560     26,801     34,194     63,064     61,618     69,611     24,287     16,826     22,141     36,842     78,524
                              

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 27, 2004
              
Federal Reserve notes outstanding             833,705
   Less: Notes held by F.R. Banks
         not subject to collateralization     126,554
      Federal Reserve Notes to be
         collateralized                       707,151 
Collateral held against Federal Reserve            
   notes                                      707,151
   Gold certificate account                    11,039
   Special drawing rights                 
     certificate account                        2,200
   U.S. Treasury and agency securities   
     pledged (1)                              693,912
   Other assets pledged                             0

Memo:
Total U.S. Treasury and agency 
       securities (1)                         730,480
   Less:face value of securities under
         reverse repurchase agreements         25,774
      U.S. Treasury and agency securities
             eligible to be pledged           704,706
   

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.