Reserve Bank credit, related items, and

reserve balances of depository institutions

at Federal Reserve Banks

Reserve Bank credit 722,260 - 2,866 + 55,911 725,946

Securities held outright 660,213 + 1,400 + 51,723 660,289

U.S. Treasury1 660,203 + 1,400 + 51,723 660,279

Bills2 242,720 + 287 + 36,273 242,792

Notes and bonds, nominal2 402,422 + 1,100 + 13,856 402,422

Notes and bonds, inflation-indexed2 13,454 0 + 1,212 13,454

Inflation compensation3 1,606 + 13 + 382 1,610

Federal agency2 10 0 0 10

Repurchase agreements4 20,464 - 3,536 + 3,643 24,000

Loans to depository institutions 52 - 83 - 256 51

Primary credit 3 - 79 + 3 3

Secondary credit 0 0 0 0

Seasonal credit 48 - 5 - 18 48

Adjustment credit 0 0 - 242 0

Float 483 - 1,008 - 166 252

Other Federal Reserve assets 41,048 + 361 + 967 41,353

Gold stock 11,043 0 + 1 11,043

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

Treasury currency outstanding5 35,377 + 14 + 970 35,377

Total factors supplying reserve funds 770,881 - 2,851 + 56,883 774,566

Currency in circulation5 706,365 + 3,076 + 38,286 708,583

Reverse repurchase agreements6 17,554 - 2,334 + 17,554 17,386

Foreign official and international accounts 17,554 - 1,370 + 17,554 17,386

Dealers 0 - 964 0 0

Treasury cash holdings 375 - 14 - 11 348

Deposits with F.R. Banks, other than reserve balances 16,855 - 1,037 + 1,201 16,653

U.S. Treasury, general account 4,876 - 804 - 137 4,614

Foreign official 91 - 105 + 14 147

Service-related 11,579 - 145 + 1,251 11,579

Required clearing balances 11,425 + 2 + 1,367 11,425

Adjustments to compensate for float 154 - 147 - 116 154

Other 309 + 16 + 73 314

Other liabilities and capital 20,243 + 218 + 231 20,446

Total factors, other than reserve balances,

absorbing reserve funds 761,392 - 91 + 57,261 763,416

Reserve balances with Federal Reserve Banks 9,489 - 2,761 - 378 11,150

Memo (off-balance-sheet items):

Marketable securities held in custody for foreign

 official and international accounts2,7 1,002,253 + 299 . . . 1,005,334

U.S. Treasury 799,454 + 427 . . . 799,679

Federal agency 202,799 - 128 . . . 205,655

Securities lent to dealers 1,502 - 58 + 674 1,315

FEDERAL RESERVE statistical release

 November 13, 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

 Nov 12, 2003 Week ended

 Nov 12, 2003 Nov 5, 2003 Nov 13, 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 819 - 10 - 261

Securities, repurchase agreements, and loans 684,340 + 6,406 + 54,279

Securities held outright 660,289 + 1,404 + 51,295

U.S. Treasury1 660,279 + 1,404 + 51,295

Bills2 242,792 + 292 + 35,843

Notes and bonds, nominal2 402,422 + 1,100 + 13,856

Notes and bonds, inflation-indexed2 13,454 0 + 1,212

Inflation compensation3 1,610 + 11 + 383

Federal agency2 10 0 0

Repurchase agreements4 24,000 + 5,000 + 3,000

Loans 51 + 2 - 16

Items in process of collection (157) 6,787 - 5,613 - 8,794

Bank premises 1,600 + 2 + 70

Other assets5 39,716 + 701 + 980

Total assets (157) 746,501 + 1,486 + 46,274

Liabilities

Federal Reserve notes, net of F.R. Bank holdings 674,369 + 3,520 + 37,868

Reverse repurchase agreements6 17,386 - 3,615 + 17,386

Deposits ( 0 ) 27,724 + 2,764 - 4,427

Depository institutions 22,650 + 3,083 - 4,595

U.S. Treasury, general account 4,614 - 1 + 22

Foreign official 147 - 311 + 71

Other ( 0 ) 314 - 6 + 76

Deferred availability cash items (157) 6,576 - 1,788 - 5,306

Other liabilities and accrued dividends7 2,314 + 37 - 155

Total liabilities (157) 728,369 + 918 + 45,366

Capital accounts

Capital paid in 8,784 + 30 + 499

Surplus 8,380 + 45 + 1,068

Other capital accounts 968 + 493 - 659

Total capital 18,132 + 568 + 909

H.4.1

2. Consolidated Statement of Condition of All Federal Reserve Banks

Millions of dollars

Change since

Wednesday

 Nov 13, 2002

Eliminations from

consolidation Wednesday

 Nov 12, 2003

Wednesday

 Nov 5, 2003

3. Maturity Distribution of Loans and Securities, November 12, 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 13 34,595 - 14,230 0 0 24,000 17,386

16 days to 90 days 38 159,321 + 14,583 10 0 0 0

91 days to 1 year 0 157,975 + 1,039 0 0 . . . . . . 

Over 1 year to 5 years . . . 179,303 + 3 0 0 . . . . . . 

Over 5 years to 10 years . . . 51,966 + 4 0 0 . . . . . . 

Over 10 years . . . 77,119 + 5 0 0 . . . . . . 

All 51 660,279 + 1,404 10 0 24,000 17,386

Assets, liabilities, and capital

Maturity
H.4.1

4. Statement of Condition of Each Federal Reserve Bank on November 12, 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 2,200 819 684,340 660,289 660,279 242,792 417,487 10 24,000 51 6,944 1,600 39,716 0 746,658

Assets, liabilities, and capital

 4,706 874 34 306,493 282,493 282,489 103,874 178,614 4 24,000 0 378 190 14,322 - 73 326,923

 495 115 27 31,922 31,922 31,922 11,738 20,184 0 0 0 374 92 1,840 + 805 35,670

 380 83 45 20,646 20,643 20,643 7,591 13,052 0 0 3 284 52 1,105 - 314 22,281

 477 104 36 30,940 30,940 30,939 11,377 19,562 0 0 0 365 150 2,471 - 2,299 32,244

 808 147 94 50,778 50,778 50,778 18,671 32,106 1 0 0 66 144 6,230 - 979 57,288

 863 166 101 44,607 44,607 44,606 16,402 28,204 1 0 1 197 277 2,317 + 1,737 50,265

 982 212 97 66,732 66,722 66,721 24,534 42,187 1 0 9 667 122 3,712 - 7,833 64,691

 331 71 56 20,775 20,774 20,773 7,639 13,135 0 0 2 291 43 1,031 - 1,492 21,108

 2   14,7 14,7 14,7 5,4 9,3    4 1 1,1 +  16,8
 790,465

 116,096 674,369 674,369 11,039 2,200 661,130 0 684,289 17,409 666,880

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.

 790,465 116,096 674,369 17,386 27,724 22,650 4,614 147 314 6,733 2,314 728,526 8,784 8,380 968 746,658

 37,016 5,429 31,587 841 1,836 1,833 0 2 1 350 129 34,743 448 436 43 35,670

 326,176 23,014 303,162 7,438 10,860 5,963 4,614 123 160 523 707 322,690 2,003 1,809 421 326,923

 27,987 8,411 19,576 544 1,113 1,112 0 1 0 416 96 21,746 259 233 43 22,281

 33,159 5,447 27,712 815 1,832 1,828 0 3 2 289 129 30,777 725 702 40 32,244

 59,128 9,747 49,381 1,337 1,859 1,706 0 7 146 270 252 53,100 2,066 2,073 48 57,288

 65,074 19,160 45,914 1,175 1,485 1,483 0 2 1 503 185 49,262 485 475 43 50,265

 66,988 9,585 57,403 1,757 2,589 2,585 0 3 0 807 238 62,793 918 858 123 64,691

 23,294 4,389 18,905 547 793 790 0 1 2 279 105 20,629 231 199 49 21,108

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

H.4.1

4. Statement of Condition of Each Federal Reserve Bank on November 12, 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 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

 Nov 12, 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.