Reserve Bank credit, related items, and

reserve balances of depository institutions

at Federal Reserve Banks

Reserve Bank credit 749,607 + 5,939 + 32,711 742,972

Securities held outright 681,468 + 1,441 + 30,266 681,483

U.S. Treasury1 681,468 + 1,441 + 30,276 681,483

Bills2 250,462 + 62 + 12,452 250,472

Notes and bonds, nominal2 414,659 + 1,355 + 15,806 414,659

Notes and bonds, inflation-indexed2 14,464 0 + 1,650 14,464

Inflation compensation3 1,883 + 24 + 369 1,888

Federal agency2 0 0 - 10 0

Repurchase agreements4 29,750 + 3,643 + 1,937 22,500

Loans to depository institutions 127 + 9 + 51 162

Primary credit 8 + 4 - 4 35

Secondary credit 0 0 0 0

Seasonal credit 119 + 5 + 55 127

Float -71 + 150 + 271 554

Other Federal Reserve assets 38,333 + 696 + 186 38,274

Gold stock 11,045 0 + 1 11,045

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

Treasury currency outstanding5 35,783 + 14 + 807 35,783

Total factors supplying reserve funds 798,635 + 5,952 + 33,520 792,001

Currency in circulation5 726,421 + 5,693 + 33,483 728,097

Reverse repurchase agreements6 20,398 + 1,207 - 1,589 20,292

Foreign official and international accounts 20,398 + 1,207 - 1,410 20,292

Dealers 0 0 - 179 0

Treasury cash holdings 320 - 10 - 56 323

Deposits with F.R. Banks, other than reserve balances 14,622 - 714 - 3,220 12,122

U.S. Treasury, general account 4,092 - 1,120 - 2,395 1,592

Foreign official 103 + 20 - 20 82

Service-related 10,150 + 363 - 853 10,150

Required clearing balances 10,150 + 363 - 682 10,150

Adjustments to compensate for float 0 0 - 170 0

Other 277 + 23 + 48 298

Other liabilities and capital 21,660 + 376 + 1,670 21,396

Total factors, other than reserve balances,

absorbing reserve funds 783,421 + 6,552 + 30,289 782,231

Reserve balances with Federal Reserve Banks 15,213 - 600 + 3,230 9,769

Memo (off-balance-sheet items):

Marketable securities held in custody for foreign

 official and international accounts2,7 1,220,724 + 10,107 + 287,355 1,224,925

U.S. Treasury 984,852 + 6,392 + 241,333 989,107

Federal agency 235,872 + 3,715 + 46,022 235,818

Securities lent to dealers 2,751 - 653 + 1,937 2,625

FEDERAL RESERVE statistical release

 June 3, 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

 Jun 2, 2004 Week ended

 Jun 2, 2004 May 26, 2004 Jun 4, 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 11,041 0 + 1

Special drawing rights certificate account 2,200 0 0

Coin 718 - 23 - 191

Securities, repurchase agreements, and loans 704,145 - 10,366 + 33,668

Securities held outright 681,483 + 850 + 30,070

U.S. Treasury1 681,483 + 850 + 30,080

Bills2 250,472 + 33 + 12,249

Notes and bonds, nominal2 414,659 + 796 + 15,806

Notes and bonds, inflation-indexed2 14,464 0 + 1,650

Inflation compensation3 1,888 + 21 + 376

Federal agency2 0 0 - 10

Repurchase agreements4 22,500 - 11,250 + 3,500

Loans 162 + 34 + 97

Items in process of collection (803) 8,714 + 3,002 - 1,169

Bank premises 1,683 + 5 + 104

Other assets5 36,541 + 390 + 36

Total assets (803) 765,042 - 6,991 + 32,448

Liabilities

Federal Reserve notes, net of F.R. Bank holdings 693,351 + 4,307 + 33,273

Reverse repurchase agreements6 20,292 + 961 - 1,381

Deposits ( 0 ) 21,842 - 14,631 - 350

Depository institutions 19,870 - 11,412 + 4,123

U.S. Treasury, general account 1,592 - 3,252 - 4,534

Foreign official 82 - 3 + 5

Other ( 0 ) 298 + 35 + 55

Deferred availability cash items (803) 8,160 + 2,168 - 655

Other liabilities and accrued dividends7 2,404 + 15 + 99

Total liabilities (803) 746,049 - 7,181 + 30,986

Capital accounts

Capital paid in 9,204 + 109 + 620

Surplus 8,847 0 + 467

Other capital accounts 942 + 80 + 376

Total capital 18,992 + 188 + 1,462

H.4.1

2. Consolidated Statement of Condition of All Federal Reserve Banks

Millions of dollars

Change since

Wednesday

 Jun 4, 2003

Eliminations from

consolidation Wednesday

 Jun 2, 2004

Wednesday

 May 26, 2004

3. Maturity Distribution of Loans and Securities, June 2, 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 50 47,941 - 7,319 0 0 22,500 20,292

16 days to 90 days 112 158,769 + 9,367 0 0 0 0

91 days to 1 year 0 161,315 - 2,268 0 0 . . . . . . 

Over 1 year to 5 years . . . 185,440 + 261 0 0 . . . . . . 

Over 5 years to 10 years . . . 51,299 + 717 0 0 . . . . . . 

Over 10 years . . . 76,719 + 92 0 0 . . . . . . 

All 162 681,483 + 850 0 0 22,500 20,292

Assets, liabilities, and capital

Maturity
H.4.1

4. Statement of Condition of Each Federal Reserve Bank on June 2, 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.

 11,041 2,200 718 704,145 681,483 681,483 250,472 431,012 0 22,500 162 9,517 1,683 36,541 0 765,845

Assets, liabilities, and capital

 4,651 874 27 318,000 295,500 295,500 108,608 186,892 0 22,500 0 443 191 13,083 -24,175 313,093

 494 115 33 32,003 32,001 32,001 11,761 20,239 0 0 2 785 96 1,659 + 3,008 38,192

 382 83 43 20,270 20,269 20,269 7,450 12,819 0 0 1 496 52 1,018 + 3,048 25,392

 452 104 34 29,120 29,120 29,120 10,703 18,417 0 0 0 468 153 2,263 - 1,590 31,004

 819 147 64 51,796 51,796 51,796 19,037 32,759 0 0 0 536 144 5,824 - 1,917 57,413

 894 166 74 45,961 45,957 45,957 16,891 29,066 0 0 4 1,193 279 2,079 + 2,421 53,067

 924 212 83 61,443 61,387 61,387 22,562 38,825 0 0 56 604 132 3,308 + 1,739 68,444

 325 71 48 20,036 20,021 20,021 7,359 12,663 0 0 15 450 51 957 + 589 22,528

 2   14,9 14,8 14,8 5,4 9,4    5 1 1,0 - 4 16,5
 807,661

 114,310 693,351 693,351 11,041 2,200 680,110 0 703,983 20,297 683,686

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.

 807,661 114,310 693,351 20,292 21,842 19,870 1,592 82 298 8,963 2,404 746,852 9,204 8,847 942 765,845

 37,991 3,932 34,059 953 1,203 1,195 0 2 6 804 133 37,151 506 448 86 38,192

 319,760 28,321 291,439 8,799 6,908 5,089 1,592 59 167 743 754 308,643 2,114 2,031 306 313,093

 30,849 8,265 22,584 604 924 923 0 1 0 616 95 24,822 278 259 34 25,392

 31,943 5,314 26,629 867 1,167 1,165 0 2 0 704 127 29,495 738 727 44 31,004

 58,978 10,070 48,908 1,542 1,871 1,744 0 7 120 598 276 53,195 2,064 2,074 80 57,413

 66,434 18,806 47,628 1,368 1,874 1,872 0 2 0 960 190 52,020 506 489 52 53,067

 67,931 7,266 60,665 1,828 3,028 3,024 0 3 0 698 228 66,446 1,021 924 53 68,444

 23,549 3,028 20,521 596 575 572 0 1 2 251 106 22,048 232 228 20 22,528

 15,5 1,2 14,3 4 4 4    5  15,8 2 3  16,5

H.4.1

4. Statement of Condition of Each Federal Reserve Bank on June 2, 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

 Jun 2, 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.