Reserve Bank credit, related items, and

reserve balances of depository institutions

at Federal Reserve Banks

Reserve Bank credit 729,540 - 2,700 + 38,140 730,266

Securities held outright 668,702 + 1,440 + 38,751 669,851

U.S. Treasury1 668,702 + 1,440 + 38,761 669,851

Bills2 245,632 + 159 + 18,691 245,847

Notes and bonds, nominal2 407,458 + 1,285 + 17,954 408,394

Notes and bonds, inflation-indexed2 13,994 0 + 1,752 13,994

Inflation compensation3 1,617 - 5 + 364 1,616

Federal agency2 0 0 - 10 0

Repurchase agreements4 17,286 - 5,928 - 1,999 18,750

Loans to depository institutions 28 + 5 - 3 18

Primary credit 19 + 9 - 9 7

Secondary credit 0 0 0 0

Seasonal credit 9 - 4 + 6 10

Float 1,544 + 1,210 - 154 -634

Other Federal Reserve assets 41,981 + 574 + 1,545 42,281

Gold stock 11,043 0 0 11,043

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

Treasury currency outstanding5 35,559 + 14 + 929 35,559

Total factors supplying reserve funds 778,342 - 2,686 + 39,069 779,067

Currency in circulation5 712,486 + 2,348 + 34,027 714,623

Reverse repurchase agreements6 20,451 - 130 + 1,502 20,059

Foreign official and international accounts 20,451 - 130 + 2,573 20,059

Dealers 0 0 - 1,071 0

Treasury cash holdings 352 - 4 - 4 336

Deposits with F.R. Banks, other than reserve balances 17,080 + 732 + 1,126 16,959

U.S. Treasury, general account 5,352 + 451 + 671 5,247

Foreign official 80 - 3 - 35 82

Service-related 11,240 + 296 + 322 11,240

Required clearing balances 10,937 + 323 + 620 10,937

Adjustments to compensate for float 303 - 27 - 298 303

Other 408 - 13 + 169 390

Other liabilities and capital 20,550 + 165 + 1,100 20,637

Total factors, other than reserve balances,

absorbing reserve funds 770,919 + 3,111 + 37,750 772,615

Reserve balances with Federal Reserve Banks 7,423 - 5,796 + 1,319 6,453

Memo (off-balance-sheet items):

Marketable securities held in custody for foreign

 official and international accounts2,7 1,125,548 + 8,598 + 255,637 1,126,346

U.S. Treasury 896,607 + 7,139 + 198,788 893,961

Federal agency 228,941 + 1,460 + 56,849 232,385

Securities lent to dealers 1,092 + 743 + 105 2,936

FEDERAL RESERVE statistical release

 February 12, 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

 Feb 11, 2004 Week ended

 Feb 11, 2004 Feb 4, 2004 Feb 12, 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 11,038 0 - 1

Special drawing rights certificate account 2,200 0 0

Coin 875 + 17 - 267

Securities, repurchase agreements, and loans 688,619 - 1,946 + 36,912

Securities held outright 669,851 + 2,559 + 38,894

U.S. Treasury1 669,851 + 2,559 + 38,904

Bills2 245,847 + 342 + 18,609

Notes and bonds, nominal2 408,394 + 2,221 + 18,177

Notes and bonds, inflation-indexed2 13,994 0 + 1,752

Inflation compensation3 1,616 - 4 + 366

Federal agency2 0 0 - 10

Repurchase agreements4 18,750 - 4,500 - 1,996

Loans 18 - 5 + 14

Items in process of collection (1,244) 6,874 - 2,007 - 955

Bank premises 1,645 + 1 + 104

Other assets5 40,631 + 776 + 1,798

Total assets (1,244) 751,883 - 3,158 + 37,591

Liabilities

Federal Reserve notes, net of F.R. Bank holdings 680,270 + 1,970 + 32,187

Reverse repurchase agreements6 20,059 - 367 + 2,455

Deposits ( 0 ) 23,408 - 4,099 + 1,843

Depository institutions 17,688 - 3,594 - 19

U.S. Treasury, general account 5,247 - 481 + 1,720

Foreign official 82 + 2 - 21

Other ( 0 ) 390 - 28 + 162

Deferred availability cash items (1,244) 7,509 - 1,073 - 266

Other liabilities and accrued dividends7 2,257 + 47 - 20

Total liabilities (1,244) 733,503 - 3,522 + 36,199

Capital accounts

Capital paid in 8,894 + 5 + 490

Surplus 8,847 0 + 490

Other capital accounts 639 + 359 + 412

Total capital 18,380 + 364 + 1,392

H.4.1

2. Consolidated Statement of Condition of All Federal Reserve Banks

Millions of dollars

Change since

Wednesday

 Feb 12, 2003

Eliminations from

consolidation Wednesday

 Feb 11, 2004

Wednesday

 Feb 4, 2004

3. Maturity Distribution of Loans and Securities, February 11, 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 7 50,035 - 353 0 0 18,750 20,059

16 days to 90 days 10 148,893 + 648 0 0 0 0

91 days to 1 year 0 164,122 + 1,359 0 0 . . . . . . 

Over 1 year to 5 years . . . 181,930 + 824 0 0 . . . . . . 

Over 5 years to 10 years . . . 47,744 + 84 0 0 . . . . . . 

Over 10 years . . . 77,127 - 2 0 0 . . . . . . 

All 18 669,851 + 2,559 0 0 18,750 20,059

Assets, liabilities, and capital

Maturity
H.4.1

4. Statement of Condition of Each Federal Reserve Bank on February 11, 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.

 11,038 2,200 875 688,619 669,851 669,851 245,847 424,004 0 18,750 18 8,118 1,645 40,631 0 753,127

Assets, liabilities, and capital

 4,705 874 40 305,334 286,584 286,584 105,181 181,403 0 18,750 0 602 189 14,603 - 7,892 318,455

 495 115 35 32,384 32,384 32,384 11,886 20,499 0 0 0 408 94 1,871 + 2,384 37,786

 380 83 45 20,942 20,942 20,942 7,686 13,256 0 0 0 498 52 1,200 + 1,217 24,417

 477 104 44 31,388 31,388 31,388 11,520 19,868 0 0 0 417 151 2,537 - 3,113 32,003

 808 147 90 51,514 51,514 51,514 18,906 32,607 0 0 0 422 145 6,282 - 349 59,060

 863 166 98 45,253 45,253 45,253 16,608 28,644 0 0 0 659 278 2,346 + 1,324 50,986

 982 212 116 67,702 67,689 67,689 24,843 42,846 0 0 13 683 125 3,850 - 7,230 66,440

 331 71 65 21,074 21,074 21,074 7,735 13,340 0 0 0 341 48 1,099 - 1,013 22,016

 2   14,9 14,9 14,9 5,4 9,4    3 1 1,2 - 4 16,5
 799,558

 119,289 680,270 680,270 11,038 2,200 667,031 0 688,601 20,064 668,538

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.

 799,558 119,289 680,270 20,059 23,408 17,688 5,247 82 390 8,753 2,257 734,747 8,894 8,847 639 753,127

 39,262 5,358 33,904 970 1,231 1,228 0 2 1 631 125 36,860 448 448 29 37,786

 324,927 29,848 295,078 8,582 8,703 3,240 5,247 59 158 1,052 746 314,162 2,041 2,031 222 318,455

 29,366 8,498 20,868 627 1,792 1,791 0 1 0 478 91 23,856 272 259 31 24,417

 32,859 4,974 27,884 940 1,186 1,182 0 2 1 390 116 30,516 722 727 37 32,003

 60,152 9,459 50,693 1,543 1,726 1,493 0 7 227 613 235 54,809 2,083 2,074 93 59,060

 64,559 18,433 46,126 1,355 1,392 1,390 0 2 0 918 179 49,970 490 489 37 50,986

 67,260 8,354 58,906 2,027 2,648 2,644 0 3 0 718 219 64,518 932 924 66 66,440

 23,635 3,598 20,037 631 480 479 0 1 1 292 103 21,543 227 228 17 22,016

 15,8 1,6 14,2 4 5 5    4  15,8 3 3  16,5

H.4.1

4. Statement of Condition of Each Federal Reserve Bank on February 11, 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

 Feb 11, 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.