Reserve Bank credit, related items, and

reserve balances of depository institutions

at Federal Reserve Banks

Reserve Bank credit 716,729 + 1,237 + 58,066 724,788

Securities held outright 652,764 + 226 + 55,138 652,837

U.S. Treasury1 652,754 + 226 + 55,138 652,827

Bills2 239,616 + 231 + 38,836 239,692

Notes and bonds, nominal2 398,853 0 + 14,918 398,853

Notes and bonds, inflation-indexed2 12,814 0 + 1,026 12,814

Inflation compensation3 1,470 - 5 + 358 1,468

Federal agency2 10 0 0 10

Repurchase agreements4 24,250 + 1,357 + 3,143 32,000

Loans to depository institutions 119 + 5 - 79 118

Primary credit 4 - 2 + 4 1

Secondary credit 0 - 1 0 0

Seasonal credit 115 + 8 - 68 118

Adjustment credit 0 0 - 15 0

Float 52 - 410 + 459 -23

Other Federal Reserve assets 39,545 + 59 - 593 39,855

Gold stock 11,044 0 0 11,044

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

Treasury currency outstanding5 35,022 + 14 + 1,026 35,022

Total factors supplying reserve funds 764,995 + 1,251 + 59,093 773,053

Currency in circulation5 692,628 - 1,809 + 32,943 693,541

Reverse repurchase agreements6 19,677 - 390 + 19,677 19,672

Foreign official and international accounts 19,677 - 390 + 19,677 19,672

Dealers 0 0 0 0

Treasury cash holdings 330 + 3 - 48 339

Deposits with F.R. Banks, other than reserve balances 18,096 + 141 + 2,252 18,014

U.S. Treasury, general account 6,067 - 412 + 756 6,058

Foreign official 124 + 15 + 47 134

Service-related 11,399 + 340 + 1,162 11,399

Required clearing balances 10,862 + 2 + 956 10,862

Adjustments to compensate for float 538 + 339 + 207 538

Other 506 + 199 + 288 423

Other liabilities and capital 20,000 + 122 + 235 20,085

Total factors, other than reserve balances,

absorbing reserve funds 750,732 - 1,932 + 55,061 751,650

Reserve balances with Federal Reserve Banks 14,262 + 3,182 + 4,032 21,403

Memo (off-balance-sheet items):

Marketable securities held in custody for foreign

 official and international accounts2,7 936,993 - 4,460 . . . 931,836

U.S. Treasury 753,744 - 3,875 . . . 749,564

Federal agency 183,249 - 585 . . . 182,272

Securities lent to dealers 1,301 + 433 - 776 1,688

FEDERAL RESERVE statistical release

 July 24, 2003

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.

. . . Not available.

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

 Jul 23, 2003 Week ended

 Jul 23, 2003 Jul 16, 2003 Jul 24, 2002
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 0 0

Special drawing rights certificate account 2,200 0 0

Coin 872 0 - 50

Securities, repurchase agreements, and loans 684,956 + 8,134 + 57,397

Securities held outright 652,837 + 137 + 52,317

U.S. Treasury1 652,827 + 137 + 52,317

Bills2 239,692 + 142 + 36,668

Notes and bonds, nominal2 398,853 0 + 14,760

Notes and bonds, inflation-indexed2 12,814 0 + 572

Inflation compensation3 1,468 - 5 + 317

Federal agency2 10 0 0

Repurchase agreements4 32,000 + 8,000 + 5,250

Loans 118 - 3 - 170

Items in process of collection (1,228) 7,680 - 854 + 789

Bank premises 1,588 + 3 + 66

Other assets5 38,216 + 609 - 503

Total assets (1,228) 746,550 + 7,892 + 57,698

Liabilities

Federal Reserve notes, net of F.R. Bank holdings 659,725 - 1,126 + 31,791

Reverse repurchase agreements6 19,672 - 674 + 19,672

Deposits ( 0 ) 39,452 + 9,852 + 4,713

Depository institutions 32,837 + 9,408 + 3,488

U.S. Treasury, general account 6,058 + 334 + 973

Foreign official 134 + 6 + 56

Other ( 0 ) 423 + 105 + 196

Deferred availability cash items (1,228) 7,617 - 594 + 665

Other liabilities and accrued dividends7 2,138 + 58 - 253

Total liabilities (1,228) 728,603 + 7,514 + 56,586

Capital accounts

Capital paid in 8,714 + 52 + 449

Surplus 8,380 + 2 + 1,068

Other capital accounts 852 + 323 - 406

Total capital 17,947 + 378 + 1,113

H.4.1

2. Consolidated Statement of Condition of All Federal Reserve Banks

Millions of dollars

Change since

Wednesday

 Jul 24, 2002

Eliminations from

consolidation Wednesday

 Jul 23, 2003

Wednesday

 Jul 16, 2003

3. Maturity Distribution of Loans and Securities, July 23, 2003

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 102 46,160 + 39 0 0 29,000 19,672

16 days to 90 days 16 140,922 - 677 0 0 3,000 0

91 days to 1 year 0 159,773 + 780 10 0 . . . . . . 

Over 1 year to 5 years . . . 179,350 - 2 0 0 . . . . . . 

Over 5 years to 10 years . . . 46,656 - 1 0 0 . . . . . . 

Over 10 years . . . 79,967 - 2 0 0 . . . . . . 

All 118 652,827 + 137 10 0 32,000 19,672

Assets, liabilities, and capital

Maturity
H.4.1

4. Statement of Condition of Each Federal Reserve Bank on July 23, 2003Millions 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 2,200 872 684,956 652,837 652,827 239,692 413,136 10 32,000 118 8,907 1,588 38,216 0 747,777

Assets, liabilities, and capital

 4,706 874 30 311,305 279,305 279,301 102,548 176,753 4 32,000 0 618 186 13,832 + 6,767 338,318

 495 115 37 31,562 31,562 31,561 11,588 19,973 0 0 0 545 91 1,765 - 160 34,450

 380 83 47 20,410 20,410 20,410 7,494 12,916 0 0 0 583 52 1,125 - 3,046 19,636

 477 104 37 30,590 30,590 30,590 11,231 19,359 0 0 0 501 151 2,361 - 1,663 32,560

 808 147 108 50,205 50,205 50,204 18,433 31,771 1 0 0 593 143 5,962 - 508 57,458

 863 166 113 44,115 44,103 44,102 16,193 27,910 1 0 12 915 279 2,224 - 155 48,520

 982 212 107 65,994 65,969 65,968 24,221 41,747 1 0 25 381 118 3,553 - 6,059 65,287

 331 71 53 20,547 20,539 20,539 7,541 12,998 0 0 8 394 43 988 - 572 21,854

 2   14,6 14,5 14,5 5,3 9,2    4 1 1,1 - 4 16,2
 772,010

 107,559 664,451 664,451 11,039 2,200 651,211 0 684,837 19,677 665,161

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.

 772,010 112,285 659,725 19,672 39,452 32,837 6,058 134 423 8,844 2,138 729,831 8,714 8,380 852 747,777

 31,659 5,035 26,624 951 5,213 5,211 0 2 0 619 124 33,532 446 436 36 34,450

 332,006 23,297 308,709 8,416 15,597 9,139 6,058 110 290 862 670 334,254 1,951 1,809 304 338,318

 24,854 7,828 17,025 615 831 829 0 1 0 556 89 19,116 252 233 35 19,636

 30,927 4,813 26,114 922 3,463 3,459 0 3 1 504 112 31,115 706 702 37 32,560

 58,199 9,814 48,385 1,513 2,517 2,383 0 7 127 573 231 53,219 2,090 2,073 76 57,458

 63,583 20,775 42,808 1,329 2,306 2,304 0 2 0 912 175 47,530 477 475 38 48,520

 65,712 8,538 57,174 1,988 3,317 3,313 0 3 1 719 209 63,406 912 858 112 65,287

 23,511 4,269 19,242 619 1,164 1,162 0 1 1 267 94 21,385 228 199 42 21,854

 15,0 1,3 13,7 4 7 7    4  15,4 3 3  16,2

H.4.1

4. Statement of Condition of Each Federal Reserve Bank on July 23, 2003 (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 eligible assets

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

 Jul 23, 2003

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.