Reserve Bank credit, related items, and

reserve balances of depository institutions

at Federal Reserve Banks

Reserve Bank credit 752,230 - 3,980 + 38,848 755,216

Securities held outright 693,510 + 1,229 + 40,667 693,717

U.S. Treasury1 693,510 + 1,229 + 40,677 693,717

Bills2 255,248 + 10 + 15,547 255,248

Notes and bonds, nominal2 421,346 + 1,196 + 22,493 421,546

Notes and bonds, inflation-indexed2 14,862 0 + 2,048 14,862

Inflation compensation3 2,053 + 22 + 588 2,061

Federal agency2 0 0 - 10 0

Repurchase agreements4 18,607 - 4,929 - 2,250 21,500

Loans to depository institutions 263 + 23 + 137 432

Primary credit 37 + 11 + 36 193

Secondary credit 0 0 0 0

Seasonal credit 226 + 12 + 101 239

Float -513 - 247 - 36 -781

Other Federal Reserve assets 40,363 - 57 + 330 40,349

Gold stock 11,045 0 + 1 11,045

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

Treasury currency outstanding5 36,036 + 14 + 907 36,036

Total factors supplying reserve funds 801,510 - 3,966 + 39,756 804,497

Currency in circulation5 732,994 - 690 + 40,428 734,335

Reverse repurchase agreements6 19,959 + 75 + 43 19,363

Foreign official and international accounts 19,959 + 75 + 43 19,363

Dealers 0 0 0 0

Treasury cash holdings 289 - 11 - 54 283

Deposits with F.R. Banks, other than reserve balances 15,136 - 1,169 - 2,869 14,617

U.S. Treasury, general account 4,956 - 553 - 1,249 4,447

Foreign official 77 - 7 - 182 81

Service-related 9,802 - 619 - 1,488 9,802

Required clearing balances 9,802 - 619 - 1,094 9,802

Adjustments to compensate for float 0 0 - 394 0

Other 300 + 10 + 49 286

Other liabilities and capital 21,326 - 213 + 1,098 21,117

Total factors, other than reserve balances,

absorbing reserve funds 789,705 - 2,008 + 38,647 789,714

Reserve balances with Federal Reserve Banks 11,805 - 1,959 + 1,109 14,783

Memo (off-balance-sheet items):

Marketable securities held in custody for foreign

 official and international accounts2,7 1,239,426 + 687 + 307,672 1,239,479

U.S. Treasury 1,005,071 + 3,201 + 256,961 1,006,486

Federal agency 234,356 - 2,513 + 50,712 232,994

Securities lent to dealers 1,063 + 631 - 993 1,525

FEDERAL RESERVE statistical release

 July 29, 2004

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.

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 28, 2004 Week ended

 Jul 28, 2004 Jul 21, 2004 Jul 30, 2003
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 11,040 0 + 1

Special drawing rights certificate account 2,200 0 0

Coin 735 + 10 - 134

Securities, repurchase agreements, and loans 715,649 - 2,383 + 36,392

Securities held outright 693,717 + 1,418 + 40,851

U.S. Treasury1 693,717 + 1,418 + 40,861

Bills2 255,248 0 + 15,522

Notes and bonds, nominal2 421,546 + 1,396 + 22,693

Notes and bonds, inflation-indexed2 14,862 0 + 2,048

Inflation compensation3 2,061 + 22 + 598

Federal agency2 0 0 - 10

Repurchase agreements4 21,500 - 4,000 - 4,750

Loans 432 + 199 + 291

Items in process of collection (645) 4,983 - 575 - 2,860

Bank premises 1,707 + 7 + 121

Other assets5 38,711 + 105 + 334

Total assets (645) 775,026 - 2,835 + 33,854

Liabilities

Federal Reserve notes, net of F.R. Bank holdings 699,312 + 144 + 38,626

Reverse repurchase agreements6 19,363 - 543 + 47

Deposits ( 0 ) 29,469 - 2,305 - 3,682

Depository institutions 24,655 - 1,853 - 1,224

U.S. Treasury, general account 4,447 - 432 - 1,727

Foreign official 81 - 18 - 771

Other ( 0 ) 286 - 1 + 40

Deferred availability cash items (645) 5,764 - 98 - 2,511

Other liabilities and accrued dividends7 2,465 + 90 + 314

Total liabilities (645) 756,374 - 2,711 + 32,796

Capital accounts

Capital paid in 9,246 + 1 + 527

Surplus 8,779 - 48 + 416

Other capital accounts 627 - 78 + 114

Total capital 18,652 - 125 + 1,058

H.4.1

2. Consolidated Statement of Condition of All Federal Reserve Banks

Millions of dollars

Change since

Wednesday

 Jul 30, 2003

Eliminations from

consolidation Wednesday

 Jul 28, 2004

Wednesday

 Jul 21, 2004

3. Maturity Distribution of Loans and Securities, July 28, 2004

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 420 55,955 + 919 0 0 21,500 19,363

16 days to 90 days 11 153,010 - 1,421 0 0 0 0

91 days to 1 year 0 165,151 + 503 0 0 . . . . . . 

Over 1 year to 5 years . . . 190,934 + 1,405 0 0 . . . . . . 

Over 5 years to 10 years . . . 51,865 + 6 0 0 . . . . . . 

Over 10 years . . . 76,802 + 8 0 0 . . . . . . 

All 432 693,717 + 1,418 0 0 21,500 19,363

Assets, liabilities, and capital

Maturity
H.4.1

4. Statement of Condition of Each Federal Reserve Bank on July 28, 2004Millions 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.

 11,040 2,200 735 715,649 693,717 693,717 255,248 438,470 0 21,500 432 5,628 1,707 38,711 0 775,671

Assets, liabilities, and capital

 4,650 874 32 322,468 300,805 300,805 110,679 190,126 0 21,500 163 130 192 14,067 -30,250 312,163

 494 115 21 32,575 32,575 32,575 11,986 20,589 0 0 0 299 96 1,752 + 2,944 38,297

 382 83 37 20,640 20,633 20,633 7,592 13,041 0 0 7 358 51 1,126 + 4,239 26,917

 452 104 39 29,643 29,643 29,643 10,907 18,736 0 0 0 364 154 2,344 + 316 33,416

 819 147 66 52,729 52,726 52,726 19,400 33,326 0 0 3 304 145 5,950 - 158 60,002

 894 166 92 46,794 46,783 46,783 17,213 29,569 0 0 11 511 279 2,219 + 8,974 59,927

 924 212 90 62,563 62,489 62,489 22,992 39,497 0 0 74 412 135 3,491 - 981 66,845

 325 71 52 20,418 20,381 20,381 7,499 12,882 0 0 37 299 55 1,015 + 1,113 23,349

 2   15,2 15,1 15,1 5,5 9,5    4 1 1,1 - 4 16,6
 819,935

 120,623 699,312 699,312 11,040 2,200 686,072 0 715,217 19,369 695,848

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.

 819,935 120,623 699,312 19,363 29,469 24,655 4,447 81 286 6,409 2,465 757,019 9,246 8,779 627 775,671

 38,532 3,960 34,572 909 1,210 1,207 0 2 1 462 135 37,287 506 448 55 38,297

 315,791 30,788 285,003 8,396 13,038 8,356 4,447 58 177 582 791 307,810 2,116 2,031 206 312,163

 32,426 8,568 23,858 576 1,370 1,369 0 1 0 460 94 26,358 278 259 23 26,917

 34,911 5,648 29,263 827 1,203 1,199 0 2 2 493 122 31,909 758 727 22 33,416

 61,418 11,235 50,182 1,472 3,525 3,415 0 7 103 467 269 55,915 2,077 2,010 0 60,002

 72,475 17,377 55,098 1,306 1,572 1,570 0 2 0 734 195 58,905 506 489 27 59,927

 67,832 8,132 59,700 1,744 2,612 2,608 0 3 1 499 232 64,788 1,026 924 108 66,845

 24,917 3,553 21,363 569 718 716 0 1 1 128 109 22,887 232 228 2 23,349

 15,7 1,0 14,7 4 4 4    4  16,0 2 3  16,6

H.4.1

4. Statement of Condition of Each Federal Reserve Bank on July 28, 2004 (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

 Jul 28, 2004

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.