FEDERAL RESERVE Statistical Release

H.4.1
Factors Affecting Reserve Balances of Depository Institutions and
Condition Statement of Federal Reserve Banks
                                                                                            October 2, 2003
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 1, 2003 Sep 24, 2003  Oct 2, 2002  Oct 1, 2003
Federal Reserve Banks

Reserve Bank Credit                                         727,180    +   9,572    +  65,544      731,678
 Securities held outright                                   656,119    +     129    +  50,709      656,196       
    U.S. Treasury (1)                                       656,109    +     129    +  50,709      656,186
       Bills (2)                                            241,527    +     125    +  38,108      241,601
       Notes and bonds, nominal (2)                         399,595            0    +  11,029      399,595
       Notes and bonds, inflation-indexed (2)                13,454            0    +   1,212       13,454
       Inflation compensation (3)                             1,533    +       4    +     361        1,535
    Federal agency (2)                                           10            0            0           10      
 Repurchase agreements(4)                                    32,107    +   9,821    +  14,500       36,750
 Loans to depository institutions                               178    -      58    +       7          151
    Primary credit                                               23    -      50    +      23           20
    Secondary credit                                              0            0            0            0
    Seasonal credit                                             155    -       8    -      16          131
    Adjustment credit                                             0            0            0            0
 Float                                                         -613    -     901    -     663         -898
 Other Federal Reserve assets                                39,389    +     580    +     992       39,479
Gold stock                                                   11,043            0    +       1       11,043
Special drawing rights certificate account                    2,200            0            0        2,200
Treasury currency outstanding (5)                            35,257    +      14    +     942       35,257
       
Total factors supplying reserve funds                       775,680    +   9,586    +  66,487      780,178
                                                                   
Currency in circulation(5)                                  696,766    +     823    +  36,628      698,877
Reverse repurchase agreements (6)                            21,384    +     839    +  21,384       22,090
   Foreign official and international accounts               21,384    +     839    +  21,384       22,090
   Dealers                                                        0            0            0            0
Treasury cash holdings                                          343    +       7    -      36          356
Deposits with F.R.Banks, other than reserve balances         19,139    -     267    +   2,476       17,268       
  U.S. Treasury, general account                              6,922    -     618    +     740        4,922
  Foreign official                                              459    +     357    +     372          496
  Service-related                                            11,515    +      21    +   1,345       11,515
     Required clearing balances                              11,225    -       1    +   1,288       11,225
     Adjustments to compensate for float                        290    +      22    +      58          290
  Other                                                         243    -      27    +      19          336
Other liabilities and capital                                20,915    +     160    +   1,433       20,397

Total factors, other than reserve balances,                                        
   absorbing reserve funds                                  758,548    +   1,563    +  61,886      758,989

Reserve balances with Federal Reserve Banks                  17,132    +   8,023    +   4,601       21,190
                                                                

Memo (off-balance-sheet items):
  Marketable securities held in custody for foreign
         official and international accounts(2,7)           973,530    +  10,173     ------        980,146
     U.S. Treasury                                          781,726    +   6,931     ------        786,561
     Federal agency                                         191,804    +   3,243     ------        193,585
  Securities lent to dealers                                  3,689    +   3,074    +   2,152        2,048   


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.


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 1, 2003     Sep 24, 2003      Oct 2, 2002

Assets
Gold certificate account                                        11,039                0        +       1
Special drawing rights certificate account                       2,200                0                0
Coin                                                               839        -      10        -     239
Securities, repurchase agreements, and loans                   693,097        +  10,752        +  69,490
   Securities held outright                                    656,196        +     193        +  49,996
      U.S. Treasury (1)                                        656,186        +     193        +  49,996       
         Bills (2)                                             241,601        +     187        +  37,395
         Notes and bonds, nominal (2)                          399,595                0        +  11,029
         Notes and bonds, inflation-indexed (2)                 13,454                0        +   1,212
         Inflation compensation (3)                              1,535        +       5        +     360
      Federal agency (2)                                            10                0                0
   Repurchase agreements (4)                                    36,750        +  10,750        +  19,500    
   Loans                                                           151        -     190        -       6
Items in process of collection                    (1,291)        7,399        +     864        -   1,412
Bank premises                                                    1,594        -       1        +      75
Other assets (5)                                                37,876        +     355        +   1,114
      Total assets                                (1,291)      754,045        +  11,961        +  69,031
                          
Liabilities
Federal Reserve notes net of FR Bank holdings                  664,812        +   1,498        +  35,547
Reverse repurchase agreements (6)                               22,090        +   3,289        +  22,090
Deposits                                              (0)       38,548        +   6,340        +  11,030       
  Depository institutions                                       32,794        +   7,767        +  10,761
  U.S. Treasury, general account                                 4,922        -   1,915        -     238
  Foreign official                                                 496        +     414        +     419
  Other                                               (0)          336        +      74        +      88
Deferred availability cash items                  (1,291)        8,198        +   1,086        -     706
Other liabilities and accrued dividends (7)                      2,210        -      35        -     197
      Total liabilities                           (1,291)      735,857        +  12,176        +  67,762
                          
Capital Accounts
Capital paid in                                                  8,746        -      12        +     481
Surplus                                                          8,380                0        +   1,068
Other capital accounts                                           1,061        -     204        -     282
      Total capital                                             18,187        -     216        +   1,267


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 collatealized 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 1, 2003
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              31       45,734   -   6,694            0           0       36,750       22,090
16 days to 90 days         120      138,437   +   1,128           10           0            0            0
91 days to 1 year            0      166,362   +   6,870            0           0     ------      ------
Over 1 to 5 years     ------        176,904   -   1,116            0           0     ------      ------
Over 5 to 10 years    ------         51,660   +       2            0           0     ------      ------
Over 10 years         ------         77,090   +       2            0           0     ------      ------
                   		 	
All                        151      656,186   +     193           10           0       36,750      22,090

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 1, 2003
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        495      4,706        380        477        808        863        982        331        224        303        507        963
Special drawing rights certificate acct.       2,200        115        874         83        104        147        166        212         71         30         66         98        234
Coin                                             839         27         36         38         35        100        111        106         57         27         48        155        101
Securities, repurchase agreements,
      and loans                              693,097     31,724    317,492     20,515     30,748     50,463     44,336     66,346     20,670     14,687     17,654     25,716     52,746
   Securities held outright                  656,196     31,724    280,742     20,515     30,748     50,463     44,330     66,309     20,645     14,647     17,635     25,716     52,722
      U.S. Treasury (1)                      656,186     31,724    280,737     20,515     30,747     50,463     44,329     66,308     20,644     14,647     17,635     25,716     52,721
         Bills (2)                           241,601     11,680    103,365      7,553     11,321     18,580     16,322     24,414      7,601      5,393      6,493      9,468     19,411
         Notes and bonds(3)                  414,585     20,043    177,373     12,962     19,426     31,883     28,008     41,894     13,043      9,254     11,142     16,247     33,309
         Federal agency (2)                       10          0          4          0          0          1          1          1          0          0          0          0          1
      Repurchase agreements(4)                36,750          0     36,750          0          0          0          0          0          0          0          0          0          0
      Loans                                      151          0          0          0          0          0          6         37         25         40         19          0         24
Items in process of collection                 8,691        716        632        568        293        661        585        528        399        491        544        354      2,920
Bank premises                                  1,594         91        189         52        150        143        277        120         43        125         54        172        176
Other assets(5)                               37,876      1,752     13,559      1,078      2,378      6,062      2,192      3,525        970      1,138        898      1,074      3,251
Interdistrict settlement account                   0    + 1,784    - 4,669    - 1,114    +   332    +   887    + 2,220    - 7,161    - 1,219    +    23    -   384    + 2,626    + 6,674
          Total Assets                       755,336     36,705    332,818     21,600     34,517     59,272     50,749     64,658     21,321     16,745     19,184     30,701     67,066

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 1, 2003
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             789,028     35,209    329,533     27,713     33,212     59,260     64,171     66,917     23,580     15,809     21,578     35,963     76,082
  Less: notes held by F.R. Banks              124,216      5,697     25,884      9,213      5,679     10,586     19,128     10,678      4,627      1,702      4,958      8,206     17,858
    Federal Reserve notes, net                664,812     29,512    303,649     18,501     27,533     48,674     45,043     56,239     18,953     14,107     16,620     27,758     58,224
Reverse repurchase agreements (1)              22,090      1,068      9,451        691      1,035      1,699      1,492      2,232        695        493        594        866      1,775
Deposits                                       38,548      4,464     13,758      1,204      3,919      3,721      2,053      3,328        768        873      1,030      1,014      2,415
  Depository institutions                      32,794      4,454      8,213      1,203      3,916      3,549      2,051      3,324        760        871      1,028      1,013      2,412
  U.S. Treasury, general account                4,922          0      4,922          0          0          0          0          0          0          0          0          0          0
  Foreign official                                496          2        472          1          3          7          2          3          1          1          1          1          3
  Other                                           336          9        151          0          0        164          0          1          8          0          1          1          0
Deferred availability cash items                9,490        607      1,024        586        460        698        983        735        332        472        448        563      2,582
Other liabilities and accrued                 
  dividends (2)                                 2,210        126        684         91        120        242        176        223        100         86         87        110        166
   
    Total liabilities                         737,149     35,777    328,566     21,073     33,067     55,033     49,748     62,757     20,847     16,030     18,779     30,310     65,162
                              
Capital                    
Capital paid in                                 8,746        448      1,997        255        705      2,073        478        917        228        348        196        184        918
Surplus                                         8,380        436      1,809        233        702      2,073        475        858        199        340        201        186        868
Other capital                                   1,061         44        446         39         44         92         48        126         47         28          8         21        118
     Total liabilities and capital            755,336     36,705    332,818     21,600     34,517     59,272     50,749     64,658     21,321     16,745     19,184     30,701     67,066
                              

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 1, 2003
              
Federal Reserve notes outstanding             789,028
   Less: Notes held by F.R. Banks
         not subject to collateralization     119,110
      Federal Reserve Notes to be
         collateralized                       669,918 
Collateral held against Federal Reserve            
   notes                                      669,918
   Gold certificate account                    11,039
   Special drawing rights                 
     certificate account                        2,200
   U.S. Treasury and agency securities   
     pledged (1)                              656,679
   Other eligible assets                            0

Memo:
Total U.S. Treasury and agency 
       securities (1)                         692,946
   Less:face value of securities under
         reverse repurchase agreements         22,094
      U.S. Treasury and agency securities
             eligible to be pledged           670,851
   

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.