Reserve Bank credit, related items, and

reserve balances of depository institutions

at Federal Reserve Banks

Reserve Bank credit 729,194 + 1,210 + 60,171 736,524

Securities held outright 663,499 + 1,536 + 54,254 664,525

U.S. Treasury1 663,489 + 1,536 + 54,254 664,515

Bills2 243,194 + 308 + 36,002 243,253

Notes and bonds, nominal2 405,211 + 1,216 + 16,645 406,173

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

Inflation compensation3 1,629 + 12 + 394 1,634

Federal agency2 10 0 0 10

Repurchase agreements4 27,393 + 3,322 + 4,357 33,500

Loans to depository institutions 46 - 19 - 11 43

Primary credit 5 - 17 + 5 8

Secondary credit 0 0 0 0

Seasonal credit 42 - 1 - 12 36

Adjustment credit 0 0 - 3 0

Float 64 - 1,770 + 49 -60

Other Federal Reserve assets 38,192 - 1,857 + 1,521 38,516

Gold stock 11,043 0 + 1 11,043

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

Treasury currency outstanding5 35,405 + 14 + 955 35,405

Total factors supplying reserve funds 777,842 + 1,224 + 61,126 785,173

Currency in circulation5 708,826 + 1,982 + 38,891 713,335

Reverse repurchase agreements6 18,228 - 999 + 18,228 17,955

Foreign official and international accounts 18,228 - 999 + 18,228 17,955

Dealers 0 0 0 0

Treasury cash holdings 307 - 35 - 77 324

Deposits with F.R. Banks, other than reserve balances 17,738 + 468 + 1,792 17,882

U.S. Treasury, general account 5,223 + 572 + 207 5,377

Foreign official 85 + 5 - 40 82

Service-related 12,167 - 33 + 1,542 12,167

Required clearing balances 11,851 + 2 + 1,570 11,851

Adjustments to compensate for float 316 - 35 - 27 316

Other 263 - 76 + 83 255

Other liabilities and capital 20,672 - 74 + 1,189 20,405

Total factors, other than reserve balances,

absorbing reserve funds 765,772 + 1,343 + 60,024 769,900

Reserve balances with Federal Reserve Banks 12,071 - 118 + 1,103 15,273

Memo (off-balance-sheet items):

Marketable securities held in custody for foreign

 official and international accounts2,7 1,028,504 + 14,361 . . . 1,033,191

U.S. Treasury 818,758 + 14,078 . . . 822,102

Federal agency 209,746 + 284 . . . 211,089

Securities lent to dealers 1,669 - 277 + 40 856

FEDERAL RESERVE statistical release

 November 28, 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 26, 2003 Week ended

 Nov 26, 2003 Nov 19, 2003 Nov 27, 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 777 - 33 - 272

Securities, repurchase agreements, and loans 698,068 + 13,308 + 59,384

Securities held outright 664,525 + 1,812 + 54,901

U.S. Treasury1 664,515 + 1,812 + 54,901

Bills2 243,253 + 295 + 35,685

Notes and bonds, nominal2 406,173 + 1,504 + 17,607

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

Inflation compensation3 1,634 + 13 + 397

Federal agency2 10 0 0

Repurchase agreements4 33,500 + 11,500 + 4,500

Loans 43 - 4 - 17

Items in process of collection (1,119) 7,307 - 1,391 - 811

Bank premises 1,605 + 3 + 75

Other assets5 36,864 + 540 + 1,542

Total assets (1,119) 757,859 + 12,426 + 59,918

Liabilities

Federal Reserve notes, net of F.R. Bank holdings 679,026 + 5,592 + 37,740

Reverse repurchase agreements6 17,955 + 53 + 17,955

Deposits ( 0 ) 32,954 + 7,030 + 3,491

Depository institutions 27,239 + 6,874 + 3,267

U.S. Treasury, general account 5,377 + 202 + 295

Foreign official 82 + 6 - 142

Other ( 0 ) 255 - 53 + 71

Deferred availability cash items (1,119) 7,520 - 179 - 237

Other liabilities and accrued dividends7 2,336 + 27 - 91

Total liabilities (1,119) 739,791 + 12,523 + 58,858

Capital accounts

Capital paid in 8,828 + 42 + 479

Surplus 8,380 0 + 1,068

Other capital accounts 860 - 139 - 488

Total capital 18,068 - 97 + 1,060

H.4.1

2. Consolidated Statement of Condition of All Federal Reserve Banks

Millions of dollars

Change since

Wednesday

 Nov 27, 2002

Eliminations from

consolidation Wednesday

 Nov 26, 2003

Wednesday

 Nov 19, 2003

3. Maturity Distribution of Loans and Securities, November 26, 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 38 50,036 + 26 10 10 29,500 17,955

16 days to 90 days 6 142,619 - 14 0 - 10 4,000 0

91 days to 1 year 0 165,225 + 283 0 0 . . . . . . 

Over 1 year to 5 years . . . 178,532 + 721 0 0 . . . . . . 

Over 5 years to 10 years . . . 50,975 + 792 0 0 . . . . . . 

Over 10 years . . . 77,128 + 5 0 0 . . . . . . 

All 43 664,515 + 1,812 10 0 33,500 17,955

Assets, liabilities, and capital

Maturity
H.4.1

4. Statement of Condition of Each Federal Reserve Bank on November 26, 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 2,200 777 698,068 664,525 664,515 243,253 421,262 10 33,500 43 8,425 1,605 36,864 0 758,978

Assets, liabilities, and capital

 4,706 874 32 317,805 284,305 284,301 104,071 180,229 4 33,500 0 706 189 13,117 - 6,682 330,748

 495 115 27 32,127 32,127 32,126 11,760 20,366 0 0 0 521 92 1,702 + 1,415 36,494

 380 83 43 20,776 20,776 20,775 7,605 13,170 0 0 0 414 52 1,012 + 619 23,378

 477 104 34 31,138 31,138 31,138 11,398 19,739 0 0 0 642 150 2,338 - 2,282 32,602

 808 147 90 51,104 51,104 51,103 18,707 32,396 1 0 0 690 144 6,034 - 210 58,807

 863 166 92 44,899 44,893 44,892 16,433 28,459 1 0 6 538 277 2,112 + 2,272 51,220

 982 212 93 67,160 67,150 67,149 24,581 42,569 1 0 10 723 122 3,417 - 6,705 66,006

 331 71 54 20,909 20,907 20,906 7,653 13,253 0 0 2 330 44 940 - 1,660 21,020

 2   14,8 14,8 14,8 5,4 9,4    3 1 1,1 - 2 16,5
 795,715

 116,689 679,026 679,026 11,039 2,200 665,787 0 698,025 17,959 680,066

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.

 795,715 116,689 679,026 17,955 32,954 27,239 5,377 82 255 8,639 2,336 740,910 8,828 8,380 860 758,978

 37,348 5,318 32,029 868 1,985 1,980 0 2 4 568 130 35,581 448 436 29 36,494

 327,133 24,217 302,915 7,682 14,166 8,568 5,377 59 161 1,043 708 326,514 2,026 1,809 399 330,748

 29,170 8,397 20,773 561 1,026 1,025 0 1 1 392 94 22,847 259 233 39 23,378

 33,205 5,169 28,036 841 1,669 1,666 0 3 1 460 129 31,136 725 702 39 32,602

 59,546 10,049 49,497 1,381 2,736 2,648 0 7 81 736 268 54,617 2,067 2,073 49 58,807

 66,102 19,927 46,176 1,213 1,748 1,745 0 2 1 899 188 50,223 487 475 35 51,220

 66,683 9,218 57,465 1,814 3,909 3,905 0 3 1 695 239 64,122 920 858 106 66,006

 23,194 4,277 18,917 565 697 693 0 1 3 264 108 20,551 232 199 38 21,020

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

H.4.1

4. Statement of Condition of Each Federal Reserve Bank on November 26, 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 26, 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.