Reserve Bank credit, related items, and

reserve balances of depository institutions

at Federal Reserve Banks

Reserve Bank credit 739,691 + 10,151 + 37,925 734,406

Securities held outright 670,117 + 1,415 + 39,108 670,786

U.S. Treasury1 670,117 + 1,415 + 39,118 670,786

Bills2 245,906 + 274 + 18,612 246,055

Notes and bonds, nominal2 408,603 + 1,145 + 18,386 409,124

Notes and bonds, inflation-indexed2 13,994 0 + 1,752 13,994

Inflation compensation3 1,613 - 4 + 368 1,612

Federal agency2 0 0 - 10 0

Repurchase agreements4 28,429 + 11,143 - 1,638 23,500

Loans to depository institutions 23 - 5 + 4 20

Primary credit 11 - 8 - 3 6

Secondary credit 0 0 0 0

Seasonal credit 11 + 2 + 6 14

Float -271 - 1,815 - 1,102 1,365

Other Federal Reserve assets 41,394 - 587 + 1,554 38,735

Gold stock 11,043 0 0 11,043

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

Treasury currency outstanding5 35,573 + 14 + 916 35,573

Total factors supplying reserve funds 788,507 + 10,165 + 38,841 783,222

Currency in circulation5 716,082 + 3,596 + 33,252 716,616

Reverse repurchase agreements6 22,837 + 2,386 + 4,912 19,951

Foreign official and international accounts 22,837 + 2,386 + 4,912 19,951

Dealers 0 0 0 0

Treasury cash holdings 334 - 18 - 24 323

Deposits with F.R. Banks, other than reserve balances 16,706 - 374 + 549 16,717

U.S. Treasury, general account 4,984 - 368 - 64 5,004

Foreign official 80 0 - 52 82

Service-related 11,324 + 84 + 594 11,324

Required clearing balances 10,937 0 + 622 10,937

Adjustments to compensate for float 386 + 83 - 29 386

Other 319 - 89 + 72 308

Other liabilities and capital 20,738 + 188 + 1,079 20,321

Total factors, other than reserve balances,

absorbing reserve funds 776,696 + 5,777 + 39,768 773,927

Reserve balances with Federal Reserve Banks 11,810 + 4,387 - 928 9,295

Memo (off-balance-sheet items):

Marketable securities held in custody for foreign

 official and international accounts2,7 1,134,523 + 8,975 + 259,928 1,142,538

U.S. Treasury 900,770 + 4,163 + 200,449 907,903

Federal agency 233,753 + 4,812 + 59,479 234,634

Securities lent to dealers 1,753 + 661 + 1,429 1,480

FEDERAL RESERVE statistical release

 February 19, 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

 Feb 18, 2004 Week ended

 Feb 18, 2004 Feb 11, 2004 Feb 19, 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 11,038 0 - 1

Special drawing rights certificate account 2,200 0 0

Coin 881 + 6 - 242

Securities, repurchase agreements, and loans 694,306 + 5,687 + 28,520

Securities held outright 670,786 + 935 + 39,513

U.S. Treasury1 670,786 + 935 + 39,523

Bills2 246,055 + 208 + 18,494

Notes and bonds, nominal2 409,124 + 730 + 18,907

Notes and bonds, inflation-indexed2 13,994 0 + 1,752

Inflation compensation3 1,612 - 4 + 370

Federal agency2 0 0 - 10

Repurchase agreements4 23,500 + 4,750 - 10,996

Loans 20 + 2 + 3

Items in process of collection (925) 12,496 + 5,622 - 1,671

Bank premises 1,646 + 1 + 89

Other assets5 37,084 - 3,547 + 1,536

Total assets (925) 759,651 + 7,768 + 28,231

Liabilities

Federal Reserve notes, net of F.R. Bank holdings 682,243 + 1,973 + 31,207

Reverse repurchase agreements6 19,951 - 108 + 2,101

Deposits ( 0 ) 26,331 + 2,923 - 6,497

Depository institutions 20,938 + 3,250 - 7,068

U.S. Treasury, general account 5,004 - 243 + 597

Foreign official 82 0 - 52

Other ( 0 ) 308 - 82 + 27

Deferred availability cash items (925) 10,806 + 3,297 + 766

Other liabilities and accrued dividends7 2,244 - 13 - 5

Total liabilities (925) 741,575 + 8,072 + 27,571

Capital accounts

Capital paid in 8,898 + 4 + 464

Surplus 8,847 0 + 467

Other capital accounts 332 - 307 - 271

Total capital 18,076 - 304 + 660

H.4.1

2. Consolidated Statement of Condition of All Federal Reserve Banks

Millions of dollars

Change since

Wednesday

 Feb 19, 2003

Eliminations from

consolidation Wednesday

 Feb 18, 2004

Wednesday

 Feb 11, 2004

3. Maturity Distribution of Loans and Securities, February 18, 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 20 53,103 + 3,068 0 0 23,500 19,951

16 days to 90 days 0 150,375 + 1,482 0 0 0 0

91 days to 1 year 0 158,686 - 5,436 0 0 . . . . . . 

Over 1 year to 5 years . . . 182,680 + 750 0 0 . . . . . . 

Over 5 years to 10 years . . . 48,816 + 1,072 0 0 . . . . . . 

Over 10 years . . . 77,126 - 1 0 0 . . . . . . 

All 20 670,786 + 935 0 0 23,500 19,951

Assets, liabilities, and capital

Maturity
H.4.1

4. Statement of Condition of Each Federal Reserve Bank on February 18, 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.

 11,038 2,200 881 694,306 670,786 670,786 246,055 424,730 0 23,500 20 13,421 1,646 37,084 0 760,576

Assets, liabilities, and capital

 4,705 874 39 310,484 286,984 286,984 105,270 181,713 0 23,500 0 1,154 190 13,118 - 8,492 322,071

 495 115 35 32,433 32,430 32,430 11,896 20,534 0 0 3 834 94 1,699 + 2,329 38,033

 380 83 48 20,972 20,972 20,972 7,693 13,279 0 0 0 677 52 1,091 + 209 23,512

 477 104 45 31,431 31,431 31,431 11,530 19,902 0 0 0 1,001 151 2,367 - 3,084 32,492

 808 147 93 51,586 51,586 51,586 18,922 32,663 0 0 0 1,041 145 5,990 + 665 60,475

 863 166 96 45,316 45,316 45,316 16,623 28,693 0 0 0 1,514 278 2,098 + 798 51,128

 982 212 114 67,792 67,783 67,783 24,864 42,919 0 0 8 1,037 125 3,488 - 7,630 66,119

 331 71 62 21,104 21,104 21,104 7,741 13,363 0 0 0 662 48 994 - 955 22,319

 2   14,9 14,9 14,9 5,4 9,4    6 1 1,1 - 5 16,5
 801,092

 118,849 682,243 682,243 11,038 2,200 669,004 0 694,286 19,955 674,331

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.

 801,092 118,849 682,243 19,951 26,331 20,938 5,004 82 308 11,731 2,244 742,500 8,898 8,847 332 760,576

 39,390 5,382 34,008 965 1,072 1,053 0 2 17 956 124 37,124 448 448 12 38,033

 324,977 30,118 294,859 8,535 12,369 7,149 5,004 59 158 1,329 753 317,846 2,041 2,031 154 322,071

 29,344 8,368 20,976 624 796 794 0 1 0 473 90 22,959 272 259 23 23,512

 32,985 4,843 28,142 935 1,255 1,251 0 2 1 585 116 31,033 722 727 10 32,492

 60,328 9,494 50,834 1,534 2,761 2,630 0 7 124 951 224 56,303 2,083 2,074 15 60,475

 64,272 18,473 45,799 1,348 1,573 1,571 0 2 0 1,231 178 50,129 491 489 20 51,128

 67,363 8,237 59,126 2,016 1,860 1,856 0 3 0 1,007 219 64,228 934 924 33 66,119

 23,662 3,608 20,054 628 674 668 0 1 5 392 102 21,849 227 228 14 22,319

 15,9 1,5 14,3 4 3 3    5  15,8 3 3  16,5

H.4.1

4. Statement of Condition of Each Federal Reserve Bank on February 18, 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

 Feb 18, 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.