FEDERAL RESERVE Statistical Release

H.4.1
Factors Affecting Reserve Balances of Depository Institutions and
Condition Statement of Federal Reserve Banks
                                                                                             August 7, 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            Aug 6, 2003 Jul 30, 2003  Aug 7, 2002  Aug 6, 2003
Federal Reserve Banks

Reserve Bank Credit                                         716,002    +   2,594    +  58,434      711,935
 Securities held outright                                   652,996    +     153    +  52,878      653,034       
    U.S. Treasury (1)                                       652,986    +     153    +  52,878      653,024
       Bills (2)                                            239,855    +     154    +  37,497      239,892
       Notes and bonds, nominal (2)                         398,853            0    +  14,497      398,853
       Notes and bonds, inflation-indexed (2)                12,814            0    +     572       12,814
       Inflation compensation (3)                             1,464    -       1    +     313        1,465
    Federal agency (2)                                           10            0            0           10      
 Repurchase agreements(4)                                    22,500    +   1,643    +   5,107       18,250
 Loans to depository institutions                               154    +      28    -      30          143
    Primary credit                                               21    +      20    +      21            3
    Secondary credit                                              0            0            0            0
    Seasonal credit                                             133    +       8    -      46          140
    Adjustment credit                                             0            0    -       6            0
 Float                                                          496    +     946    +     698          455
 Other Federal Reserve assets                                39,856    -     176    -     218       40,052
Gold stock                                                   11,043    -       1    +       1       11,043
Special drawing rights certificate account                    2,200            0            0        2,200
Treasury currency outstanding (5)                            35,102    +      14    +   1,056       35,102
       
Total factors supplying reserve funds                       764,347    +   2,608    +  59,491      760,280
                                                                   
Currency in circulation(5)                                  694,262    +   1,737    +  33,342      696,091
Reverse repurchase agreements (6)                            18,946    -     970    +  18,946       19,062
   Foreign official and international accounts               18,946    -     970    +  18,946       19,062
   Dealers                                                        0            0            0            0
Treasury cash holdings                                          365    +      22    -      12          371
Deposits with F.R.Banks, other than reserve balances         17,398    -     608    +   1,839       18,135       
  U.S. Treasury, general account                              5,639    -     566    +     614        6,400
  Foreign official                                              177    -      82    +      78          141
  Service-related                                            11,287    -       4    +   1,080       11,287
     Required clearing balances                              10,898            0    +     939       10,898
     Adjustments to compensate for float                        390    -       4    +     142          390
  Other                                                         294    +      43    +      65          307
Other liabilities and capital                                19,850    -     378    +     643       19,872

Total factors, other than reserve balances,                                        
   absorbing reserve funds                                  750,821    -     197    +  54,757      753,531

Reserve balances with Federal Reserve Banks                  13,526    +   2,804    +   4,733        6,749
                                                                

Memo (off-balance-sheet items):
  Marketable securities held in custody for foreign
         official and international accounts(2,7)           936,578    +   4,824     ------        935,715
     U.S. Treasury                                          752,600    +   4,490     ------        753,009
     Federal agency                                         183,978    +     334     ------        182,707
  Securities lent to dealers                                  2,765    +     709    +   1,488        4,784   


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  Aug 6, 2003     Jul 30, 2003      Aug 7, 2002

Assets
Gold certificate account                                        11,039                0        +       1
Special drawing rights certificate account                       2,200                0                0
Coin                                                               870        +       1        -     102
Securities, repurchase agreements, and loans                   671,427        -   7,830        +  43,915
   Securities held outright                                    653,034        +     168        +  51,702
      U.S. Treasury (1)                                        653,024        +     168        +  51,702       
         Bills (2)                                             239,892        +     166        +  36,978
         Notes and bonds, nominal (2)                          398,853                0        +  13,840
         Notes and bonds, inflation-indexed (2)                 12,814                0        +     572
         Inflation compensation (3)                              1,465        +       2        +     313
      Federal agency (2)                                            10                0                0
   Repurchase agreements (4)                                    18,250        -   8,000        -   7,750    
   Loans                                                           143        +       2        -      37
Items in process of collection                    (1,129)        9,337        +   1,494        +   1,776
Bank premises                                                    1,586                0        +      67
Other assets (5)                                                38,431        +      54        -     140
      Total assets                                (1,129)      734,891        -   6,281        +  45,517
                          
Liabilities
Federal Reserve notes net of FR Bank holdings                  662,226        +   1,540        +  32,595
Reverse repurchase agreements (6)                               19,062        -     254        +  19,062
Deposits                                              (0)       25,188        -   7,963        -   7,508       
  Depository institutions                                       18,340        -   7,539        -   8,763
  U.S. Treasury, general account                                 6,400        +     226        +   1,084
  Foreign official                                                 141        -     711        +      67
  Other                                               (0)          307        +      61        +     104
Deferred availability cash items                  (1,129)        8,543        +     268        +     654
Other liabilities and accrued dividends (7)                      2,125        -      26        -     252
      Total liabilities                           (1,129)      717,144        -   6,434        +  44,551
                          
Capital Accounts
Capital paid in                                                  8,721        +       2        +     437
Surplus                                                          8,380        +      17        +   1,068
Other capital accounts                                             646        +     133        -     540
      Total capital                                             17,747        +     153        +     966


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,     August 6, 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              37       51,281   +   5,233            0           0       15,250       19,062
16 days to 90 days         106      137,369   -   3,811            0           0        3,000            0
91 days to 1 year            0      161,900   +   2,240           10           0     ------      ------
Over 1 to 5 years     ------        177,684   -   1,665            0           0     ------      ------
Over 5 to 10 years    ------         44,824   -   1,830            0           0     ------      ------
Over 10 years         ------         79,966   +       1            0           0     ------      ------
                   		 	
All                        143      653,024   +     168           10           0       18,250      19,062

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     August 6, 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                                             870         35         30         45         39        109        115        108         56         32         57        151         95
Securities, repurchase agreements,
      and loans                              671,427     31,571    297,639     20,417     30,600     50,220     44,129     66,019     20,569     14,629     17,564     25,595     52,475
   Securities held outright                  653,034     31,571    279,389     20,417     30,600     50,220     44,116     65,989     20,545     14,577     17,550     25,592     52,468
      U.S. Treasury (1)                      653,024     31,571    279,385     20,416     30,599     50,220     44,116     65,988     20,545     14,576     17,550     25,592     52,467
         Bills (2)                           239,892     11,598    102,633      7,500     11,241     18,448     16,206     24,241      7,547      5,355      6,447      9,401     19,274
         Notes and bonds(3)                  413,132     19,973    176,751     12,916     19,358     31,771     27,910     41,747     12,998      9,222     11,103     16,191     33,193
         Federal agency (2)                       10          0          4          0          0          1          1          1          0          0          0          0          1
      Repurchase agreements(4)                18,250          0     18,250          0          0          0          0          0          0          0          0          0          0
      Loans                                      143          0          0          1          0          0         13         29         24         52         14          3          8
Items in process of collection                10,466        850        688        592        465        730        946        977        568        355        677        701      2,918
Bank premises                                  1,586         91        186         52        152        143        278        119         43        126         54        167        176
Other assets(5)                               38,431      1,775     13,966      1,134      2,364      5,942      2,242      3,573        997      1,134        922      1,113      3,270
Interdistrict settlement account                   0    - 4,615    +15,933    - 2,571    - 3,734    - 1,113    -    72    - 7,118    - 1,313    -   574    -   750    + 2,628    + 3,300
          Total Assets                       736,020     30,317    334,022     20,132     30,466     56,985     48,667     64,871     21,322     15,956     18,893     30,959     63,430

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     August 6, 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             775,502     31,508    333,179     25,551     31,271     58,388     63,569     66,839     23,406     15,330     21,370     35,377     69,714
  Less: notes held by F.R. Banks              113,276      5,031     22,962      7,985      5,034     10,013     20,316      9,213      4,338      1,588      4,656      7,182     14,958
    Federal Reserve notes, net                662,226     26,476    310,217     17,567     26,237     48,375     43,254     57,627     19,068     13,742     16,714     28,195     54,756
Reverse repurchase agreements (1)              19,062        922      8,155        596        893      1,466      1,288      1,926        600        425        512        747      1,532
Deposits                                       25,188      1,204      9,939        767      1,205      2,072      2,004      2,483        739        595        666        995      2,517
  Depository institutions                      18,340      1,197      3,261        766      1,202      1,929      2,002      2,479        737        594        664        994      2,513
  U.S. Treasury, general account                6,400          0      6,400          0          0          0          0          0          0          0          0          0          0
  Foreign official                                141          2        117          1          3          7          2          3          1          1          1          1          3
  Other                                           307          6        161          0          0        136          0          1          1          0          1          1          0
Deferred availability cash items                9,672        686        977        600        594        677        972        765        352        407        516        540      2,587
Other liabilities and accrued                 
  dividends (2)                                 2,125        121        661         89        115        219        178        212         94         85         86        106        158
   
    Total liabilities                         718,273     29,409    329,948     19,619     29,043     52,809     47,696     63,013     20,853     15,255     18,495     30,583     61,549
                              
Capital                    
Capital paid in                                 8,721        446      1,952        253        707      2,092        477        915        228        348        192        183        931
Surplus                                         8,380        436      1,809        233        702      2,073        475        858        199        340        201        186        868
Other capital                                     646         26        314         27         13         11         19         85         42         14          6          7         82
     Total liabilities and capital            736,020     30,317    334,022     20,132     30,466     56,985     48,667     64,871     21,322     15,956     18,893     30,959     63,430
                              

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
                                           Aug 6, 2003
              
Federal Reserve notes outstanding             775,502
   Less: Notes held by F.R. Banks
         not subject to collateralization     108,511
      Federal Reserve Notes to be
         collateralized                       666,991 
Collateral held against Federal Reserve            
   notes                                      666,991
   Gold certificate account                    11,039
   Special drawing rights                 
     certificate account                        2,200
   U.S. Treasury and agency securities   
     pledged (1)                              652,217
   Other eligible assets                        1,534

Memo:
Total U.S. Treasury and agency 
       securities (1)                         671,284
   Less:face value of securities under
         reverse repurchase agreements         19,067
      U.S. Treasury and agency securities
             eligible to be pledged           652,217
   

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.