FEDERAL RESERVE Statistical Release

H.4.1
Factors Affecting Reserve Balances of Depository Institutions and
Condition Statement of Federal Reserve Banks
                                                                                          November 12, 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           Nov 10, 2004  Nov 3, 2004 Nov 12, 2003 Nov 10, 2004
Federal Reserve Banks

Reserve Bank Credit                                         774,767    +   1,416    +  52,527      781,192
 Securities held outright                                   708,823    +   1,800    +  48,610      708,909       
    U.S. Treasury (1)                                       708,823    +   1,800    +  48,620      708,909
       Bills (2)                                            259,638    +     318    +  16,918      259,720
       Notes and bonds, nominal (2)                         431,328    +   1,031    +  28,906      431,328
       Notes and bonds, inflation-indexed (2)                15,683    +     421    +   2,229       15,683
       Inflation compensation (3)                             2,174    +      30    +     568        2,178
    Federal agency (2)                                            0            0    -      10            0      
 Repurchase agreements(4)                                    23,643    -     643    +   3,179       29,500
 Loans to depository institutions                                85    -      30    +      33           77
    Primary credit                                                6    -       2    +       3            1
    Secondary credit                                              0            0            0            0
    Seasonal credit                                              79    -      28    +      31           77
 Float                                                           67    -     261    -     393          487
 Other Federal Reserve assets                                42,149    +     550    +   1,098       42,219
Gold stock                                                   11,043            0            0       11,043
Special drawing rights certificate account                    2,200            0            0        2,200
Treasury currency outstanding (5)                            36,349    +      14    +   1,005       36,349
       
Total factors supplying reserve funds                       824,359    +   1,430    +  53,532      830,784
                                                                   
Currency in circulation(5)                                  745,452    +   2,926    +  39,121      749,504
Reverse repurchase agreements (6)                            27,110    +     266    +   9,556       27,467
   Foreign official and international accounts               27,110    +     266    +   9,556       27,467
   Dealers                                                        0            0            0            0
Treasury cash holdings                                          303    +       3    -      72          300
Deposits with F.R.Banks, other than reserve balances         15,999    -     263    -     853       15,522       
  U.S. Treasury, general account                              5,012    -     263    +     136        4,565
  Foreign official                                              122    +      37    +      31           82
  Service-related                                            10,572    +       1    -   1,003       10,572
     Required clearing balances                              10,572    +       1    -     849       10,572
     Adjustments to compensate for float                          0            0    -     154            0
  Other                                                         293    -      38    -      16          304
Other liabilities and capital                                24,079    +     200    +   3,836       23,771

Total factors, other than reserve balances,                                        
   absorbing reserve funds                                  812,943    +   3,132    +  51,588      816,563

Reserve balances with Federal Reserve Banks                  11,415    -   1,703    +   1,943       14,221
                                                                

Memo (off-balance-sheet items):
  Marketable securities held in custody for foreign
         official and international accounts(2,7)         1,305,946    +   5,147    + 303,693    1,308,021
     U.S. Treasury                                        1,058,699    +   6,094    + 259,245    1,060,859
     Federal agency                                         247,247    -     946    +  44,448      247,162
  Securities lent to dealers                                  1,699    +   1,258    +     197        2,770   


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 Nov 10, 2004      Nov 3, 2004     Nov 12, 2003

Assets
Gold certificate account                                        11,039                0                0
Special drawing rights certificate account                       2,200                0                0
Coin                                                               772        -       7        -      47
Securities, repurchase agreements, and loans                   738,487        +  10,025        +  54,147
   Securities held outright                                    708,909        +     779        +  48,620
      U.S. Treasury (1)                                        708,909        +     779        +  48,630       
         Bills (2)                                             259,720        +     327        +  16,928
         Notes and bonds, nominal (2)                          431,328                0        +  28,906
         Notes and bonds, inflation-indexed (2)                 15,683        +     421        +   2,229
         Inflation compensation (3)                              2,178        +      31        +     568
      Federal agency (2)                                             0                0        -      10
   Repurchase agreements (4)                                    29,500        +   9,250        +   5,500    
   Loans                                                            77        -       5        +      26
Items in process of collection                      (836)        7,071        -     643        +     284
Bank premises                                                    1,745        +       4        +     145
Other assets (5)                                                40,517        +     548        +     801
      Total assets                                  (836)      801,832        +   9,929        +  55,331
                          
Liabilities
Federal Reserve notes net of FR Bank holdings                  714,224        +   4,612        +  39,855
Reverse repurchase agreements (6)                               27,467        +     955        +  10,081
Deposits                                              (0)       29,792        +   4,683        +   2,068       
  Depository institutions                                       24,842        +   5,158        +   2,192
  U.S. Treasury, general account                                 4,565        -     406        -      49
  Foreign official                                                  82                0        -      65
  Other                                               (0)          304        -      68        -      10
Deferred availability cash items                    (836)        6,579        -     466        +       3
Other liabilities and accrued dividends (7)                      2,887        -      62        +     573
      Total liabilities                             (836)      780,948        +   9,721        +  52,579
                          
Capital Accounts
Capital paid in                                                 10,617        +      73        +   1,833
Surplus                                                          8,847                0        +     467
Other capital accounts                                           1,419        +     134        +     451
      Total capital                                             20,883        +     207        +   2,751


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,  November 10, 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              14       41,934   -  14,265            0           0       29,500       27,467
16 days to 90 days          63      167,164   +  15,083            0           0            0            0
91 days to 1 year            0      168,865   +     584            0           0     ------      ------
Over 1 to 5 years     ------        203,793   +       4            0           0     ------      ------
Over 5 to 10 years    ------         50,330   -     730            0           0     ------      ------
Over 10 years         ------         76,822   +     102            0           0     ------      ------
                   		 	
All                         77      708,909   +     779            0           0       29,500      27,467

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  November 10, 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                                             772         22         43         58         54         68         78        110         41         23         51        117        107
Securities, repurchase agreements,
      and loans                              738,487     33,289    336,892     21,090     30,292     53,880     47,814     63,874     20,829     15,490     18,645     32,325     64,067
   Securities held outright                  708,909     33,289    307,392     21,085     30,292     53,880     47,807     63,857     20,827     15,462     18,629     32,323     64,066
      U.S. Treasury (1)                      708,909     33,289    307,392     21,085     30,292     53,880     47,807     63,857     20,827     15,462     18,629     32,323     64,066
         Bills (2)                           259,720     12,196    112,618      7,725     11,098     19,740     17,515     23,395      7,630      5,665      6,825     11,842     23,472
         Notes and bonds(3)                  449,190     21,093    194,775     13,360     19,194     34,140     30,292     40,462     13,197      9,797     11,804     20,481     40,595
         Federal agency (2)                        0          0          0          0          0          0          0          0          0          0          0          0          0
      Repurchase agreements(4)                29,500          0     29,500          0          0          0          0          0          0          0          0          0          0
      Loans                                       77          0          0          5          0          0          7         17          2         28         16          2          1
Items in process of collection                 7,907        369        413        610        656        343        825        631        470        488        662        261      2,180
Bank premises                                  1,745         98        191         52        154        144        278        147         62        123         79        238        179
Other assets(5)                               40,517      1,845     14,626      1,134      2,485      6,282      2,333      3,671      1,067      1,196        843      1,053      3,982
Interdistrict settlement account                   0    + 3,836    -33,512    + 5,759    -   100    + 2,396    + 9,997    +   710    + 1,485    -   802    + 1,489    + 2,169    + 6,572
          Total Assets                       802,668     40,067    324,177     29,167     34,097     64,080     62,383     70,280     24,350     16,766     22,137     36,786     78,376

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  November 10, 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             839,330     37,735    326,702     32,933     34,750     65,586     73,032     72,191     25,276     16,299     24,447     41,755     88,624
  Less: notes held by F.R. Banks              125,106      4,261     31,649      8,341      5,589     12,163     17,162      9,060      2,980      1,809      4,682      7,664     19,745
    Federal Reserve notes, net                714,224     33,474    295,052     24,592     29,161     53,422     55,871     63,130     22,296     14,490     19,765     34,091     68,879
Reverse repurchase agreements (1)              27,467      1,290     11,910        817      1,174      2,088      1,852      2,474        807        599        722      1,252      2,482
Deposits                                       29,792      2,238     10,914      2,415      1,583      3,578      2,419      1,841        504        404        796        700      2,401
  Depository institutions                      24,842      2,233      6,098      2,414      1,579      3,471      2,417      1,837        499        403        794        700      2,397
  U.S. Treasury, general account                4,565          0      4,565          0          0          0          0          0          0          0          0          0          0
  Foreign official                                 82          2         58          1          2          7          2          3          1          1          1          0          4
  Other                                           304          3        192          0          2        100          0          1          4          0          1          0          0
Deferred availability cash items                7,414        526        790        633        408        433        928        461        129        557        429        308      1,814
Other liabilities and accrued                 
  dividends (2)                                 2,887        177        942        109        148        314        227        272        118         95        101        148        236
   
    Total liabilities                         781,784     37,705    319,608     28,565     32,473     59,835     61,297     68,177     23,854     16,146     21,813     36,499     75,812
                              
Capital                    
Capital paid in                                10,617      1,634      2,165        293        836      2,098        526      1,028        241        263        149        132      1,255
Surplus                                         8,847        448      2,031        259        727      2,074        489        924        228        346        162        111      1,048
Other capital                                   1,419        280        374         51         61         73         71        151         27         12         13         45        261
     Total liabilities and capital            802,668     40,067    324,177     29,167     34,097     64,080     62,383     70,280     24,350     16,766     22,137     36,786     78,376
                              

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
                                          Nov 10, 2004
              
Federal Reserve notes outstanding             839,330
   Less: Notes held by F.R. Banks
         not subject to collateralization     125,106
      Federal Reserve Notes to be
         collateralized                       714,224 
Collateral held against Federal Reserve            
   notes                                      714,224
   Gold certificate account                    11,039
   Special drawing rights                 
     certificate account                        2,200
   U.S. Treasury and agency securities   
     pledged (1)                              700,985
   Other assets pledged                             0

Memo:
Total U.S. Treasury and agency 
       securities (1)                         738,409
   Less:face value of securities under
         reverse repurchase agreements         27,557
      U.S. Treasury and agency securities
             eligible to be pledged           710,852
   

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.