Reserve Bank credit, related items, and

reserve balances of depository institutions

at Federal Reserve Banks

Reserve Bank credit 726,540 + 14,715 + 67,907 730,577

Securities held outright 653,446 + 374 + 51,297 653,526

U.S. Treasury1 653,436 + 374 + 51,297 653,516

Bills2 240,298 + 371 + 37,279 240,376

Notes and bonds, nominal2 398,853 0 + 13,129 398,853

Notes and bonds, inflation-indexed2 12,814 0 + 572 12,814

Inflation compensation3 1,471 + 4 + 316 1,472

Federal agency2 10 0 0 10

Repurchase agreements4 34,071 + 16,392 + 14,571 39,500

Loans to depository institutions 937 + 792 + 744 262

Primary credit 719 + 712 + 719 105

Secondary credit 66 + 66 + 66 0

Seasonal credit 152 + 14 - 39 157

Adjustment credit 0 0 - 2 0

Float 843 + 247 + 1,151 501

Other Federal Reserve assets 37,243 - 3,091 + 144 36,789

Gold stock 11,043 0 + 1 11,043

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

Treasury currency outstanding5 35,163 + 14 + 1,016 35,163

Total factors supplying reserve funds 774,947 + 14,730 + 68,925 778,984

Currency in circulation5 694,700 - 270 + 34,299 695,659

Reverse repurchase agreements6 20,106 + 543 + 20,106 20,344

Foreign official and international accounts 20,106 + 543 + 20,106 20,344

Dealers 0 0 0 0

Treasury cash holdings 355 - 14 - 16 338

Deposits with F.R. Banks, other than reserve balances 17,518 + 313 + 2,630 18,247

U.S. Treasury, general account 5,644 + 33 + 1,257 6,533

Foreign official 238 + 89 + 109 81

Service-related 11,331 + 173 + 1,170 11,331

Required clearing balances 10,912 - 1 + 992 10,912

Adjustments to compensate for float 419 + 174 + 178 419

Other 304 + 17 + 93 301

Other liabilities and capital 20,304 + 114 + 603 19,884

Total factors, other than reserve balances,

absorbing reserve funds 752,983 + 685 + 57,621 754,472

Reserve balances with Federal Reserve Banks 21,963 + 14,043 + 11,302 24,512

Memo (off-balance-sheet items):

Marketable securities held in custody for foreign

 official and international accounts2,7 946,182 + 6,398 . . . 945,863

U.S. Treasury 760,488 + 6,951 . . . 759,937

Federal agency 185,695 - 551 . . . 185,925

Securities lent to dealers 4,232 + 2,101 + 3,452 2,196

FEDERAL RESERVE statistical release

 August 21, 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

 Aug 20, 2003 Week ended

 Aug 20, 2003 Aug 13, 2003 Aug 21, 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 897 + 9 - 120

Securities, repurchase agreements, and loans 693,288 + 20,837 + 64,905

Securities held outright 653,526 + 238 + 50,597

U.S. Treasury1 653,516 + 238 + 50,597

Bills2 240,376 + 234 + 37,237

Notes and bonds, nominal2 398,853 0 + 12,471

Notes and bonds, inflation-indexed2 12,814 0 + 572

Inflation compensation3 1,472 + 3 + 316

Federal agency2 10 0 0

Repurchase agreements4 39,500 + 20,500 + 14,250

Loans 262 + 98 + 58

Items in process of collection (1,167) 7,556 - 1,728 + 565

Bank premises 1,590 + 3 + 68

Other assets5 35,154 - 3,651 - 583

Total assets (1,167) 751,724 + 15,469 + 64,836

Liabilities

Federal Reserve notes, net of F.R. Bank holdings 661,727 - 287 + 33,540

Reverse repurchase agreements6 20,344 + 1,206 + 20,344

Deposits ( 0 ) 42,103 + 14,888 + 9,910

Depository institutions 35,188 + 14,498 + 7,915

U.S. Treasury, general account 6,533 + 813 + 1,904

Foreign official 81 - 444 - 8

Other ( 0 ) 301 + 20 + 99

Deferred availability cash items (1,167) 7,667 - 177 + 365

Other liabilities and accrued dividends7 2,162 + 3 - 226

Total liabilities (1,167) 734,003 + 15,633 + 63,932

Capital accounts

Capital paid in 8,725 + 1 + 422

Surplus 8,380 0 + 1,068

Other capital accounts 617 - 163 - 586

Total capital 17,722 - 162 + 905

H.4.1

2. Consolidated Statement of Condition of All Federal Reserve Banks

Millions of dollars

Change since

Wednesday

 Aug 21, 2002

Eliminations from

consolidation Wednesday

 Aug 20, 2003

Wednesday

 Aug 13, 2003

3. Maturity Distribution of Loans and Securities, August 20, 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 261 49,409 - 2,742 0 0 32,500 20,344

16 days to 90 days 1 135,851 - 733 0 0 7,000 0

91 days to 1 year 0 160,914 - 1,151 10 0 . . . . . . 

Over 1 year to 5 years . . . 180,032 + 2,347 0 0 . . . . . . 

Over 5 years to 10 years . . . 50,383 + 5,558 0 0 . . . . . . 

Over 10 years . . . 76,928 - 3,039 0 0 . . . . . . 

All 262 653,516 + 238 10 0 39,500 20,344

Assets, liabilities, and capital

Maturity
H.4.1

4. Statement of Condition of Each Federal Reserve Bank on August 20, 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 2,200 897 693,288 653,526 653,516 240,376 413,140 10 39,500 262 8,723 1,590 35,154 0 752,891

Assets, liabilities, and capital

 4,706 874 33 319,199 279,599 279,595 102,841 176,754 4 39,500 100 693 186 12,618 + 3,703 342,012

 495 115 32 31,597 31,595 31,595 11,621 19,973 0 0 2 403 91 1,620 - 1,460 32,893

 380 83 48 20,432 20,432 20,432 7,515 12,916 0 0 0 423 52 970 - 1,377 21,011

 477 104 42 30,623 30,623 30,622 11,263 19,359 0 0 0 363 152 2,208 - 2,072 31,897

 808 147 112 50,258 50,258 50,257 18,486 31,772 1 0 0 646 143 5,679 + 1,273 59,065

 863 166 113 44,163 44,150 44,149 16,239 27,910 1 0 13 774 278 2,019 + 1,003 49,379

 982 212 114 66,076 66,039 66,038 24,290 41,748 1 0 37 1,069 119 3,249 - 6,213 65,609

 331 71 61 20,584 20,561 20,560 7,563 12,998 0 0 23 340 43 898 - 1,045 21,282

 2   14,6 14,5 14,5 5,3 9,2    4 1 1,0 + 3 16,9
 779,566

 113,140 666,426 666,426 11,039 2,200 653,187 0 693,026 20,349 672,677

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.

 779,566 117,839 661,727 20,344 42,103 35,188 6,533 81 301 8,834 2,162 735,170 8,725 8,380 617 752,891

 31,508 5,156 26,353 984 4,014 3,987 0 2 26 514 126 31,990 446 436 21 32,893

 332,447 23,893 308,554 8,704 18,996 12,252 6,533 57 153 1,035 675 337,964 1,952 1,809 288 342,012

 26,450 8,009 18,440 636 748 747 0 1 0 582 91 20,497 253 233 29 21,011

 31,897 5,648 26,249 953 2,733 2,730 0 3 1 422 115 30,473 710 702 11 31,897

 58,618 10,689 47,930 1,565 4,565 4,445 0 7 112 600 219 54,878 2,089 2,073 25 59,065

 64,542 20,434 44,108 1,374 1,801 1,799 0 2 0 948 175 48,407 477 475 20 49,379

 67,105 9,720 57,385 2,056 3,379 3,375 0 3 0 716 219 63,755 915 858 81 65,609

 23,531 4,720 18,811 640 952 946 0 1 6 316 95 20,815 228 199 40 21,282

 15,6 1,6 14,0 4 1,0 1,0    5  16,2 3 3  16,9

H.4.1

4. Statement of Condition of Each Federal Reserve Bank on August 20, 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 eligible assets

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 20, 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.