Reserve Bank credit, related items, and

reserve balances of depository institutions

at Federal Reserve Banks

Reserve Bank credit 715,316 - 10,008 + 57,119 716,213

Securities held outright 654,525 + 644 + 50,423 655,602

U.S. Treasury1 654,515 + 644 + 50,423 655,592

Bills2 240,969 + 243 + 37,510 241,020

Notes and bonds, nominal2 398,959 + 106 + 11,730 399,595

Notes and bonds, inflation-indexed2 13,089 + 275 + 847 13,454

Inflation compensation3 1,499 + 21 + 337 1,523

Federal agency2 10 0 0 10

Repurchase agreements4 22,821 - 11,608 + 5,964 22,500

Loans to depository institutions 158 - 8 - 7 155

Primary credit 3 - 6 + 3 0

Secondary credit 0 0 0 0

Seasonal credit 155 - 2 - 9 154

Adjustment credit 0 0 - 1 0

Float 322 + 796 + 965 148

Other Federal Reserve assets 37,489 + 166 - 228 37,808

Gold stock 11,043 0 + 1 11,043

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

Treasury currency outstanding5 35,205 + 14 + 941 35,205

Total factors supplying reserve funds 763,764 - 9,994 + 58,060 764,661

Currency in circulation5 698,456 - 1,609 + 34,896 698,084

Reverse repurchase agreements6 19,345 - 677 + 19,345 19,719

Foreign official and international accounts 19,345 - 677 + 19,345 19,719

Dealers 0 0 0 0

Treasury cash holdings 337 + 2 - 24 333

Deposits with F.R. Banks, other than reserve balances 16,675 - 113 + 1,135 16,797

U.S. Treasury, general account 4,745 - 98 - 264 5,039

Foreign official 261 + 13 + 131 80

Service-related 11,391 - 62 + 1,214 11,391

Required clearing balances 11,218 + 308 + 1,259 11,218

Adjustments to compensate for float 173 - 370 - 44 173

Other 279 + 35 + 56 287

Other liabilities and capital 20,451 + 257 + 1,014 20,347

Total factors, other than reserve balances,

absorbing reserve funds 755,264 - 2,141 + 56,366 755,280

Reserve balances with Federal Reserve Banks 8,499 - 7,854 + 1,693 9,381

Memo (off-balance-sheet items):

Marketable securities held in custody for foreign

 official and international accounts2,7 961,287 + 8,099 . . . 964,040

U.S. Treasury 773,456 + 6,852 . . . 777,059

Federal agency 187,831 + 1,247 . . . 186,981

Securities lent to dealers 1,867 - 633 + 843 1,395

FEDERAL RESERVE statistical release

 September 11, 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

 Sep 10, 2003 Week ended

 Sep 10, 2003 Sep 3, 2003 Sep 11, 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 + 1

Special drawing rights certificate account 2,200 0 0

Coin 850 - 8 - 178

Securities, repurchase agreements, and loans 678,256 - 9,115 + 55,564

Securities held outright 655,602 + 1,661 + 51,072

U.S. Treasury1 655,592 + 1,661 + 51,072

Bills2 241,020 + 235 + 37,134

Notes and bonds, nominal2 399,595 + 742 + 12,366

Notes and bonds, inflation-indexed2 13,454 + 640 + 1,212

Inflation compensation3 1,523 + 44 + 360

Federal agency2 10 0 0

Repurchase agreements4 22,500 - 10,750 + 4,500

Loans 155 - 25 - 7

Items in process of collection (1,067) 8,013 - 4,841 + 755

Bank premises 1,590 + 1 + 70

Other assets5 36,186 + 737 - 18

Total assets (1,067) 738,134 - 13,226 + 56,194

Liabilities

Federal Reserve notes, net of F.R. Bank holdings 664,058 - 3,154 + 33,097

Reverse repurchase agreements6 19,719 + 962 + 19,719

Deposits ( 0 ) 26,161 - 8,156 + 1,742

Depository institutions 20,755 - 8,111 + 1,143

U.S. Treasury, general account 5,039 + 514 + 523

Foreign official 80 - 606 + 5

Other ( 0 ) 287 + 47 + 72

Deferred availability cash items (1,067) 7,849 - 3,145 + 308

Other liabilities and accrued dividends7 2,215 + 20 - 210

Total liabilities (1,067) 720,003 - 13,472 + 54,656

Capital accounts

Capital paid in 8,755 + 3 + 502

Surplus 8,380 0 + 1,068

Other capital accounts 996 + 244 - 32

Total capital 18,131 + 246 + 1,538

H.4.1

2. Consolidated Statement of Condition of All Federal Reserve Banks

Millions of dollars

Change since

Wednesday

 Sep 11, 2002

Eliminations from

consolidation Wednesday

 Sep 10, 2003

Wednesday

 Sep 3, 2003

3. Maturity Distribution of Loans and Securities, September 10, 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 30 45,911 + 430 0 0 18,500 19,719

16 days to 90 days 125 141,474 + 535 0 0 4,000 0

91 days to 1 year 0 161,449 - 730 10 0 . . . . . . 

Over 1 year to 5 years . . . 178,018 + 1 0 0 . . . . . . 

Over 5 years to 10 years . . . 51,655 + 1,270 0 0 . . . . . . 

Over 10 years . . . 77,085 + 154 0 0 . . . . . . 

All 155 655,592 + 1,661 10 0 22,500 19,719

Assets, liabilities, and capital

Maturity
H.4.1

4. Statement of Condition of Each Federal Reserve Bank on September 10, 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 2,200 850 678,256 655,602 655,592 241,020 414,572 10 22,500 155 9,080 1,590 36,186 0 739,200

Assets, liabilities, and capital

 4,706 874 33 302,987 280,487 280,483 103,116 177,367 4 22,500 0 792 187 13,018 + 8,685 331,283

 495 115 27 31,695 31,695 31,695 11,652 20,043 0 0 0 655 91 1,664 - 3,256 31,486

 380 83 42 20,500 20,497 20,496 7,535 12,961 0 0 3 429 52 1,066 - 540 22,011

 477 104 36 30,720 30,720 30,719 11,294 19,426 0 0 0 384 151 2,260 - 2,569 31,563

 808 147 105 50,418 50,418 50,417 18,535 31,882 1 0 0 640 143 5,763 - 1,245 56,777

 863 166 113 44,300 44,290 44,289 16,282 28,007 1 0 10 616 278 2,090 + 375 48,800

 982 212 105 66,288 66,249 66,248 24,355 41,893 1 0 39 887 119 3,352 - 7,244 64,701

 331 71 58 20,650 20,626 20,626 7,583 13,043 0 0 24 445 43 916 - 1,239 21,275

 2   14,6 14,6 14,6 5,3 9,2    4 1 1,0 - 2 16,3
 783,777

 115,128 668,649 668,649 11,039 2,200 655,411 0 678,102 19,724 658,377

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.

 783,777 119,720 664,058 19,719 26,161 20,755 5,039 80 287 8,916 2,215 721,069 8,755 8,380 996 739,200

 31,751 5,211 26,541 953 2,333 2,329 0 2 2 611 126 30,564 446 436 40 31,486

 331,843 25,327 306,516 8,437 10,406 5,151 5,039 57 159 1,020 687 327,065 1,998 1,809 411 331,283

 27,439 8,478 18,961 617 1,285 1,284 0 1 0 533 92 21,487 253 233 38 22,011

 32,472 5,365 27,108 924 1,444 1,440 0 3 1 523 119 30,117 704 702 39 31,563

 58,599 10,144 48,455 1,516 1,762 1,634 0 7 121 578 232 52,544 2,072 2,073 88 56,777

 64,113 20,622 43,491 1,332 1,885 1,884 0 2 0 919 183 47,811 478 475 36 48,800

 67,323 9,708 57,616 1,993 2,318 2,314 0 3 1 656 224 62,806 917 858 120 64,701

 23,655 4,617 19,039 620 750 747 0 1 2 293 101 20,804 228 199 45 21,275

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

H.4.1

4. Statement of Condition of Each Federal Reserve Bank on September 10, 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

 Sep 10, 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.