Reserve Bank credit, related items, and

reserve balances of depository institutions

at Federal Reserve Banks

Reserve Bank credit 755,206 + 969 + 39,803 757,041

Securities held outright 694,794 + 753 + 41,150 694,840

U.S. Treasury1 694,794 + 753 + 41,160 694,840

Bills2 255,281 + 30 + 14,789 255,322

Notes and bonds, nominal2 422,541 + 711 + 23,688 422,541

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

Inflation compensation3 2,110 + 12 + 636 2,114

Federal agency2 0 0 - 10 0

Repurchase agreements4 22,786 + 2,250 - 1,821 24,500

Loans to depository institutions 241 - 5 + 84 236

Primary credit 6 - 6 + 5 5

Secondary credit 0 0 0 0

Seasonal credit 234 - 1 + 78 230

Float -461 - 72 - 621 -310

Other Federal Reserve assets 37,846 - 1,957 + 1,012 37,775

Gold stock 11,044 0 + 1 11,044

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

Treasury currency outstanding5 36,129 + 14 + 915 36,129

Total factors supplying reserve funds 804,579 + 983 + 40,719 806,414

Currency in circulation5 734,390 - 640 + 39,625 735,462

Reverse repurchase agreements6 20,967 - 761 + 1,744 20,922

Foreign official and international accounts 20,967 - 761 + 1,744 20,922

Dealers 0 0 0 0

Treasury cash holdings 321 + 15 - 17 330

Deposits with F.R. Banks, other than reserve balances 15,434 + 5 - 2,180 14,387

U.S. Treasury, general account 4,789 + 333 - 1,185 3,668

Foreign official 102 - 9 + 16 229

Service-related 10,208 - 319 - 1,040 10,208

Required clearing balances 10,207 - 320 - 705 10,207

Adjustments to compensate for float 0 0 - 337 0

Other 336 0 + 30 283

Other liabilities and capital 22,440 + 475 + 2,443 22,557

Total factors, other than reserve balances,

absorbing reserve funds 793,553 - 905 + 41,615 793,658

Reserve balances with Federal Reserve Banks 11,026 + 1,888 - 896 12,755

Memo (off-balance-sheet items):

Marketable securities held in custody for foreign

 official and international accounts2,7 1,277,669 + 12,119 + 328,919 1,279,748

U.S. Treasury 1,035,943 + 10,500 + 274,175 1,035,965

Federal agency 241,727 + 1,620 + 54,745 243,783

Securities lent to dealers 767 - 318 - 862 1,527

FEDERAL RESERVE statistical release

 August 26, 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

 Aug 25, 2004 Week ended

 Aug 25, 2004 Aug 18, 2004 Aug 27, 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 764 + 10 - 123

Securities, repurchase agreements, and loans 719,576 + 8,074 + 36,734

Securities held outright 694,840 + 80 + 41,159

U.S. Treasury1 694,840 + 80 + 41,169

Bills2 255,322 + 68 + 14,794

Notes and bonds, nominal2 422,541 0 + 23,688

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

Inflation compensation3 2,114 + 12 + 638

Federal agency2 0 0 - 10

Repurchase agreements4 24,500 + 8,000 - 4,500

Loans 236 - 5 + 75

Items in process of collection (779) 5,215 - 356 - 2,371

Bank premises 1,718 + 7 + 128

Other assets5 36,122 + 124 + 733

Total assets (779) 776,634 + 7,859 + 35,100

Liabilities

Federal Reserve notes, net of F.R. Bank holdings 700,422 - 491 + 37,004

Reverse repurchase agreements6 20,922 - 452 + 1,803

Deposits ( 0 ) 27,208 + 8,143 - 4,523

Depository institutions 23,028 + 9,027 - 2,899

U.S. Treasury, general account 3,668 - 997 - 1,773

Foreign official 229 + 125 + 148

Other ( 0 ) 283 - 11 + 1

Deferred availability cash items (779) 5,525 - 215 - 1,830

Other liabilities and accrued dividends7 2,592 + 72 + 388

Total liabilities (779) 756,669 + 7,057 + 32,844

Capital accounts

Capital paid in 10,452 + 1,190 + 1,704

Surplus 8,834 - 13 + 454

Other capital accounts 678 - 376 + 98

Total capital 19,965 + 802 + 2,257

H.4.1

2. Consolidated Statement of Condition of All Federal Reserve Banks

Millions of dollars

Change since

Wednesday

 Aug 27, 2003

Eliminations from

consolidation Wednesday

 Aug 25, 2004

Wednesday

 Aug 18, 2004

3. Maturity Distribution of Loans and Securities, August 25, 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 215 57,989 - 76 0 0 24,500 20,922

16 days to 90 days 21 150,619 - 573 0 0 0 0

91 days to 1 year 0 162,874 + 717 0 0 . . . . . . 

Over 1 year to 5 years . . . 197,636 + 4 0 0 . . . . . . 

Over 5 years to 10 years . . . 49,806 + 3 0 0 . . . . . . 

Over 10 years . . . 75,916 + 5 0 0 . . . . . . 

All 236 694,840 + 80 0 0 24,500 20,922

Assets, liabilities, and capital

Maturity
H.4.1

4. Statement of Condition of Each Federal Reserve Bank on August 25, 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 2,200 764 719,576 694,840 694,840 255,322 439,518 0 24,500 236 5,994 1,718 36,122 0 777,413

Assets, liabilities, and capital

 4,650 874 37 325,792 301,292 301,292 110,711 190,581 0 24,500 0 460 191 12,935 -36,565 308,374

 494 115 20 32,628 32,628 32,628 11,989 20,639 0 0 0 270 97 1,634 + 4,163 39,421

 382 83 37 20,676 20,666 20,666 7,594 13,072 0 0 10 326 51 1,003 + 4,860 27,418

 452 104 43 29,691 29,691 29,691 10,910 18,781 0 0 0 279 155 2,249 + 995 33,968

 819 147 75 52,811 52,811 52,811 19,406 33,405 0 0 0 331 144 5,769 + 1,714 61,811

 894 166 96 46,869 46,858 46,858 17,218 29,640 0 0 10 534 279 2,048 +10,122 61,007

 924 212 97 62,650 62,590 62,590 22,999 39,591 0 0 60 417 140 3,263 - 1,321 66,381

 325 71 52 20,443 20,414 20,414 7,501 12,913 0 0 29 399 56 946 + 1,644 23,936

 2   15,2 15,1 15,1 5,5 9,5    4 1 1,0 - 5 16,5
 826,371

 125,949 700,422 700,422 11,040 2,200 687,182 0 719,340 20,930 698,410

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.

 826,371 125,949 700,422 20,922 27,208 23,028 3,668 229 283 6,305 2,592 757,448 10,452 8,834 678 777,413

 38,721 4,338 34,383 982 1,354 1,334 0 2 18 427 152 37,298 1,617 448 57 39,421

 317,193 32,667 284,525 9,072 8,949 4,901 3,668 206 175 594 842 303,983 2,144 2,031 216 308,374

 33,032 8,740 24,292 622 1,388 1,387 0 1 0 441 102 26,846 284 259 29 27,418

 35,111 5,908 29,202 894 1,826 1,822 0 2 1 400 130 32,452 761 727 28 33,968

 62,706 11,800 50,905 1,590 4,525 4,434 0 7 84 377 263 57,660 2,088 2,062 0 61,811

 73,277 17,669 55,608 1,411 2,003 2,001 0 2 0 744 205 59,971 515 489 32 61,007

 67,751 8,110 59,641 1,885 2,014 2,010 0 3 1 535 246 64,321 1,025 924 111 66,381

 25,331 3,447 21,883 615 596 594 0 1 2 261 112 23,468 232 228 8 23,936

 15,9 1,4 14,5 4 4 4    4  15,9 2 3  16,5

H.4.1

4. Statement of Condition of Each Federal Reserve Bank on August 25, 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

 Aug 25, 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.