Reserve Bank credit, related items, and

reserve balances of depository institutions

at Federal Reserve Banks

Reserve Bank credit 739,030 - 1,186 + 29,315 738,002

Securities held outright 674,786 + 266 + 27,934 674,937

U.S. Treasury1 674,786 + 266 + 27,944 674,937

Bills2 247,188 + 246 + 11,333 247,332

Notes and bonds, nominal2 411,388 0 + 14,612 411,388

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

Inflation compensation3 1,746 + 21 + 350 1,753

Federal agency2 0 0 - 10 0

Repurchase agreements4 24,529 - 1,200 + 636 22,750

Loans to depository institutions 95 + 10 + 67 83

Primary credit 34 + 1 + 30 18

Secondary credit 0 0 0 0

Seasonal credit 61 + 9 + 37 65

Float -688 - 223 - 283 -22

Other Federal Reserve assets 40,308 - 39 + 961 40,253

Gold stock 11,045 0 + 2 11,045

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

Treasury currency outstanding5 35,699 + 14 + 832 35,699

Total factors supplying reserve funds 787,974 - 1,172 + 30,149 786,946

Currency in circulation5 716,814 - 685 + 29,273 717,070

Reverse repurchase agreements6 19,420 - 716 - 1,132 19,260

Foreign official and international accounts 19,420 - 716 - 1,132 19,260

Dealers 0 0 0 0

Treasury cash holdings 338 - 7 - 22 328

Deposits with F.R. Banks, other than reserve balances 17,010 + 864 - 3,669 16,318

U.S. Treasury, general account 6,630 + 1,472 - 2,297 5,886

Foreign official 96 + 13 - 10 165

Service-related 9,970 - 598 - 1,343 9,970

Required clearing balances 9,970 - 597 - 859 9,970

Adjustments to compensate for float 0 - 2 - 484 0

Other 313 - 25 - 20 297

Other liabilities and capital 20,562 + 6 + 417 20,462

Total factors, other than reserve balances,

absorbing reserve funds 774,144 - 539 + 24,867 773,438

Reserve balances with Federal Reserve Banks 13,830 - 633 + 5,282 13,508

Memo (off-balance-sheet items):

Marketable securities held in custody for foreign

 official and international accounts2,7 1,186,135 + 5,757 + 293,051 1,186,773

U.S. Treasury 956,043 + 6,468 + 238,811 957,442

Federal agency 230,093 - 710 + 54,241 229,331

Securities lent to dealers 2,671 + 1,712 + 2,571 2,235

FEDERAL RESERVE statistical release

 April 22, 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

 Apr 21, 2004 Week ended

 Apr 21, 2004 Apr 14, 2004 Apr 23, 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 + 3

Special drawing rights certificate account 2,200 0 0

Coin 831 - 3 - 212

Securities, repurchase agreements, and loans 697,770 - 6,733 + 26,339

Securities held outright 674,937 + 220 + 28,036

U.S. Treasury1 674,937 + 220 + 28,046

Bills2 247,332 + 200 + 11,437

Notes and bonds, nominal2 411,388 0 + 14,612

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

Inflation compensation3 1,753 + 20 + 347

Federal agency2 0 0 - 10

Repurchase agreements4 22,750 - 6,950 - 1,750

Loans 83 - 3 + 53

Items in process of collection (1,028) 6,844 + 1,123 - 745

Bank premises 1,663 + 1 + 103

Other assets5 38,500 - 144 + 204

Total assets (1,028) 758,849 - 5,756 + 25,692

Liabilities

Federal Reserve notes, net of F.R. Bank holdings 682,526 - 1,738 + 27,501

Reverse repurchase agreements6 19,260 - 210 - 731

Deposits ( 0 ) 29,736 - 4,322 - 633

Depository institutions 23,388 - 5,334 + 2,643

U.S. Treasury, general account 5,886 + 984 - 3,399

Foreign official 165 + 80 + 60

Other ( 0 ) 297 - 53 + 63

Deferred availability cash items (1,028) 6,865 + 368 - 1,103

Other liabilities and accrued dividends7 2,242 - 27 - 33

Total liabilities (1,028) 740,629 - 5,930 + 25,001

Capital accounts

Capital paid in 9,023 + 40 + 497

Surplus 8,768 + 1 + 388

Other capital accounts 429 + 133 - 194

Total capital 18,220 + 174 + 691

H.4.1

2. Consolidated Statement of Condition of All Federal Reserve Banks

Millions of dollars

Change since

Wednesday

 Apr 23, 2003

Eliminations from

consolidation Wednesday

 Apr 21, 2004

Wednesday

 Apr 14, 2004

3. Maturity Distribution of Loans and Securities, April 21, 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 83 55,679 + 9,394 0 0 22,750 19,260

16 days to 90 days 0 147,434 - 8,272 0 0 0 0

91 days to 1 year 0 160,538 - 922 0 0 . . . . . . 

Over 1 year to 5 years . . . 183,815 + 8 0 0 . . . . . . 

Over 5 years to 10 years . . . 50,017 + 5 0 0 . . . . . . 

Over 10 years . . . 77,455 + 8 0 0 . . . . . . 

All 83 674,937 + 220 0 0 22,750 19,260

Assets, liabilities, and capital

Maturity
H.4.1

4. Statement of Condition of Each Federal Reserve Bank on April 21, 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 2,200 831 697,770 674,937 674,937 247,332 427,605 0 22,750 83 7,872 1,663 38,500 0 759,877

Assets, liabilities, and capital

 4,651 874 37 315,412 292,662 292,662 107,246 185,415 0 22,750 0 399 191 13,972 -19,003 316,531

 494 115 38 31,702 31,693 31,693 11,614 20,079 0 0 8 794 96 1,745 + 2,793 37,776

 382 83 53 20,074 20,074 20,074 7,356 12,718 0 0 0 326 52 1,159 + 1,518 23,648

 452 104 42 28,840 28,840 28,840 10,569 18,272 0 0 0 462 152 2,330 - 1,639 30,743

 819 147 83 51,298 51,298 51,298 18,798 32,500 0 0 0 836 144 5,918 + 1,579 60,825

 894 166 77 45,516 45,516 45,516 16,679 28,837 0 0 0 658 279 2,204 + 316 50,109

 924 212 113 60,818 60,797 60,797 22,279 38,518 0 0 20 442 128 3,462 + 184 66,282

 325 71 59 19,843 19,829 19,829 7,266 12,563 0 0 14 335 49 1,009 + 237 21,928

 2   14,7 14,7 14,7 5,3 9,3    4 1 1,1 - 3 16,2
 806,847

 124,321 682,526 682,526 11,041 2,200 669,285 0 697,687 19,265 678,423

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.

 806,847 124,321 682,526 19,260 29,736 23,388 5,886 165 297 7,894 2,242 741,657 9,023 8,768 429 759,877

 38,798 4,839 33,959 904 1,248 1,232 0 2 15 574 129 36,815 499 448 14 37,776

 323,155 32,008 291,147 8,351 11,356 5,165 5,886 141 164 635 694 312,184 2,106 2,031 212 316,531

 29,453 8,491 20,962 573 1,002 1,001 0 1 0 468 91 23,095 275 259 20 23,648

 32,297 5,435 26,862 823 984 980 0 2 2 494 121 29,285 739 719 0 30,743

 59,820 11,291 48,529 1,464 6,038 5,920 0 7 111 493 234 56,758 2,058 2,009 0 60,825

 63,964 19,244 44,720 1,299 1,985 1,983 0 2 0 939 185 49,128 486 489 7 50,109

 67,868 7,898 59,970 1,735 1,928 1,924 0 3 0 592 215 64,440 909 924 8 66,282

 23,430 3,516 19,914 566 603 600 0 1 2 265 102 21,450 232 228 18 21,928

 15,7 1,4 14,3 4 4 4    4  15,6 2 3  16,2

H.4.1

4. Statement of Condition of Each Federal Reserve Bank on April 21, 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

 Apr 21, 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.