FEDERAL RESERVE Statistical Release

H.4.1
Factors Affecting Reserve Balances of Depository Institutions and
Condition Statement of Federal Reserve Banks
                                                                                            August 19, 2004
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 18, 2004 Aug 11, 2004 Aug 20, 2003 Aug 18, 2004
Federal Reserve Banks

Reserve Bank Credit                                         754,238    -     553    +  27,699      749,097
 Securities held outright                                   694,041    +     300    +  40,595      694,760       
    U.S. Treasury (1)                                       694,041    +     300    +  40,605      694,760
       Bills (2)                                            255,251    +       3    +  14,953      255,254
       Notes and bonds, nominal (2)                         421,830    +     284    +  22,977      422,541
       Notes and bonds, inflation-indexed (2)                14,862            0    +   2,048       14,862
       Inflation compensation (3)                             2,098    +      13    +     627        2,102
    Federal agency (2)                                            0            0    -      10            0      
 Repurchase agreements(4)                                    20,536    +     500    -  13,535       16,500
 Loans to depository institutions                               246    +       7    -     691          241
    Primary credit                                               12    -       4    -     707            8
    Secondary credit                                              0            0    -      66            0
    Seasonal credit                                             235    +      12    +      83          234
 Float                                                         -389    -      92    -   1,231         -173
 Other Federal Reserve assets                                39,803    -   1,268    +   2,560       37,768
Gold stock                                                   11,044            0    +       1       11,044
Special drawing rights certificate account                    2,200            0            0        2,200
Treasury currency outstanding (5)                            36,137    +      14    +     946       36,137
       
Total factors supplying reserve funds                       803,619    -     539    +  28,645      798,479
                                                                   
Currency in circulation(5)                                  735,052    +      24    +  40,324      735,981
Reverse repurchase agreements (6)                            21,728    +   1,306    +   1,622       21,374
   Foreign official and international accounts               21,728    +   1,306    +   1,622       21,374
   Dealers                                                        0            0            0            0
Treasury cash holdings                                          306    +      17    -      49          320
Deposits with F.R.Banks, other than reserve balances         15,429    -     553    -   2,089       15,591       
  U.S. Treasury, general account                              4,456    -     608    -   1,188        4,665
  Foreign official                                              111    +      30    -     127          104
  Service-related                                            10,527    -      12    -     804       10,527
     Required clearing balances                              10,527    -       2    -     385       10,527
     Adjustments to compensate for float                          0    -      10    -     419            0
  Other                                                         336    +      38    +      32          294
Other liabilities and capital                                21,965    +     115    +   1,661       21,683

Total factors, other than reserve balances,                                        
   absorbing reserve funds                                  794,480    +     910    +  41,469      794,949

Reserve balances with Federal Reserve Banks                   9,139    -   1,449    -  12,824        3,529
                                                                

Memo (off-balance-sheet items):
  Marketable securities held in custody for foreign
         official and international accounts(2,7)         1,265,550    +   9,286    + 319,368    1,274,209
     U.S. Treasury                                        1,025,443    +   7,504    + 264,955    1,034,982
     Federal agency                                         240,107    +   1,782    +  54,412      239,227
  Securities lent to dealers                                  1,085    +     337    -   3,147        3,179   


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.


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 18, 2004     Aug 11, 2004     Aug 20, 2003

Assets
Gold certificate account                                        11,040                0        +       1
Special drawing rights certificate account                       2,200                0                0
Coin                                                               754        +       4        -     143
Securities, repurchase agreements, and loans                   711,502        +   1,525        +  18,214
   Securities held outright                                    694,760        +   1,014        +  41,234
      U.S. Treasury (1)                                        694,760        +   1,014        +  41,244       
         Bills (2)                                             255,254        +       6        +  14,878
         Notes and bonds, nominal (2)                          422,541        +     995        +  23,688
         Notes and bonds, inflation-indexed (2)                 14,862                0        +   2,048
         Inflation compensation (3)                              2,102        +      12        +     630
      Federal agency (2)                                             0                0        -      10
   Repurchase agreements (4)                                    16,500        +     500        -  23,000    
   Loans                                                           241        +      10        -      21
Items in process of collection                      (621)        5,571        +     254        -   1,985
Bank premises                                                    1,711        +       1        +     121
Other assets (5)                                                35,998        -   3,427        +     844
      Total assets                                  (621)      768,775        -   1,643        +  17,051
                          
Liabilities
Federal Reserve notes net of FR Bank holdings                  700,913        -     295        +  39,186
Reverse repurchase agreements (6)                               21,374        +     768        +   1,030
Deposits                                              (0)       19,065        -   1,983        -  23,038       
  Depository institutions                                       14,001        -   2,083        -  21,187
  U.S. Treasury, general account                                 4,665        +      48        -   1,868
  Foreign official                                                 104        +      22        +      23
  Other                                               (0)          294        +      29        -       7
Deferred availability cash items                    (621)        5,740        -     146        -   1,927
Other liabilities and accrued dividends (7)                      2,520        +       8        +     358
      Total liabilities                             (621)      749,612        -   1,649        +  15,609
                          
Capital Accounts
Capital paid in                                                  9,262        +       2        +     537
Surplus                                                          8,847        -       9        +     467
Other capital accounts                                           1,054        +      14        +     437
      Total capital                                             19,163        +       6        +   1,441


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 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 18, 2004
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             233       58,065   +   1,500            0           0       16,500       21,374
16 days to 90 days           8      151,192   +   1,870            0           0            0            0
91 days to 1 year            0      162,157   -   4,585            0           0     ------      ------
Over 1 to 5 years     ------        197,632   +   5,200            0           0     ------      ------
Over 5 to 10 years    ------         49,803   -   2,069            0           0     ------      ------
Over 10 years         ------         75,911   -     902            0           0     ------      ------
                   		 	
All                        241      694,760   +   1,014            0           0       16,500      21,374

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 18, 2004
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                      11,040        494      4,650        382        452        819        894        924        325        218        302        525      1,055
Special drawing rights certificate acct.       2,200        115        874         83        104        147        166        212         71         30         66         98        234
Coin                                             754         19         39         36         44         74         95         94         52         21         47        128        105
Securities, repurchase agreements,
      and loans                              711,502     32,624    317,758     20,673     29,687     52,807     46,859     62,653     20,435     15,242     18,289     31,680     62,794
   Securities held outright                  694,760     32,624    301,257     20,664     29,687     52,805     46,853     62,583     20,411     15,154     18,257     31,678     62,788
      U.S. Treasury (1)                      694,760     32,624    301,257     20,664     29,687     52,805     46,853     62,583     20,411     15,154     18,257     31,678     62,788
         Bills (2)                           255,254     11,986    110,682      7,592     10,907     19,400     17,214     22,993      7,499      5,567      6,708     11,638     23,068
         Notes and bonds(3)                  439,506     20,638    190,576     13,072     18,780     33,404     29,639     39,590     12,912      9,586     11,549     20,039     39,719
         Federal agency (2)                        0          0          0          0          0          0          0          0          0          0          0          0          0
      Repurchase agreements(4)                16,500          0     16,500          0          0          0          0          0          0          0          0          0          0
      Loans                                      241          0          0          9          0          2          7         70         24         88         32          2          7
Items in process of collection                 6,192        316        544        295        331        351        574        408        348        409        432        268      1,917
Bank premises                                  1,711         97        191         51        154        145        279        139         56        124         75        220        180
Other assets(5)                               35,998      1,631     12,832        999      2,248      5,815      2,036      3,248        941      1,081        734        885      3,549
Interdistrict settlement account                   0    + 2,729    -30,394    + 4,238    +    51    - 1,387    +10,060    - 1,782    + 1,532    -   527    + 1,469    + 3,698    +10,313
          Total Assets                       769,396     38,025    306,493     26,757     33,071     58,770     60,963     65,896     23,759     16,598     21,414     37,501     80,147

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 18, 2004
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             824,991     38,774    316,483     33,033     35,014     62,382     72,815     67,764     25,154     15,981     24,172     43,069     90,350
  Less: notes held by F.R. Banks              124,079      4,336     32,344      8,679      5,847     11,524     17,294      8,134      3,368      1,428      4,791      7,964     18,370
    Federal Reserve notes, net                700,913     34,439    284,138     24,354     29,167     50,858     55,521     59,630     21,786     14,553     19,382     35,106     71,980
Reverse repurchase agreements (1)              21,374      1,004      9,268        636        913      1,625      1,441      1,925        628        466        562        975      1,932
Deposits                                       19,065        977      7,199        681        936      1,374      2,045      1,592        565        402        652        724      1,919
  Depository institutions                      14,001        953      2,278        680        932      1,274      2,043      1,589        563        401        650        724      1,915
  U.S. Treasury, general account                4,665          0      4,665          0          0          0          0          0          0          0          0          0          0
  Foreign official                                104          2         81          1          2          7          2          3          1          1          1          0          4
  Other                                           294         22        174          0          1         92          0          1          2          0          1          0          0
Deferred availability cash items                6,361        433        619        405        386        411        712        412        185        470        398        278      1,653
Other liabilities and accrued                 
  dividends (2)                                 2,520        135        822         98        126        270        200        238        109         86         95        137        205
   
    Total liabilities                         750,233     36,987    302,046     26,173     31,528     54,537     59,919     63,797     23,273     15,977     21,087     37,220     77,689
                              
Capital                    
Capital paid in                                 9,262        506      2,117        284        757      2,085        506      1,024        232        262        153        131      1,203
Surplus                                         8,847        448      2,031        259        727      2,074        489        924        228        346        162        111      1,048
Other capital                                   1,054         84        299         41         59         74         49        151         26         13         12         40        207
     Total liabilities and capital            769,396     38,025    306,493     26,757     33,071     58,770     60,963     65,896     23,759     16,598     21,414     37,501     80,147
                              

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 18, 2004
              
Federal Reserve notes outstanding             824,991
   Less: Notes held by F.R. Banks
         not subject to collateralization     124,079
      Federal Reserve Notes to be
         collateralized                       700,913 
Collateral held against Federal Reserve            
   notes                                      700,913
   Gold certificate account                    11,040
   Special drawing rights                 
     certificate account                        2,200
   U.S. Treasury and agency securities   
     pledged (1)                              687,673
   Other assets pledged                             0

Memo:
Total U.S. Treasury and agency 
       securities (1)                         711,260
   Less:face value of securities under
         reverse repurchase agreements         21,382
      U.S. Treasury and agency securities
             eligible to be pledged           689,879
   

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.