FEDERAL RESERVE Statistical Release

H.4.1
Factors Affecting Reserve Balances of Depository Institutions and
Condition Statement of Federal Reserve Banks
                                                                                             August 5, 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 4, 2004 Jul 28, 2004  Aug 6, 2003  Aug 4, 2004
Federal Reserve Banks

Reserve Bank Credit                                         757,633    +   5,403    +  41,657      752,669
 Securities held outright                                   693,728    +     218    +  40,732      693,734       
    U.S. Treasury (1)                                       693,728    +     218    +  40,742      693,734
       Bills (2)                                            255,248            0    +  15,393      255,248
       Notes and bonds, nominal (2)                         421,546    +     200    +  22,693      421,546
       Notes and bonds, inflation-indexed (2)                14,862            0    +   2,048       14,862
       Inflation compensation (3)                             2,072    +      19    +     608        2,078
    Federal agency (2)                                            0            0    -      10            0      
 Repurchase agreements(4)                                    22,929    +   4,322    +     429       17,000
 Loans to depository institutions                               265    +       2    +     111          321
    Primary credit                                               31    -       6    +      10           95
    Secondary credit                                              0            0            0            0
    Seasonal credit                                             234    +       8    +     101          225
 Float                                                          237    +     750    -     233        1,112
 Other Federal Reserve assets                                40,475    +     112    +     619       40,502
Gold stock                                                   11,044    -       1    +       1       11,044
Special drawing rights certificate account                    2,200            0            0        2,200
Treasury currency outstanding (5)                            36,050    +      14    +     905       36,050
       
Total factors supplying reserve funds                       806,927    +   5,417    +  42,563      801,963
                                                                   
Currency in circulation(5)                                  733,915    +     921    +  39,611      735,910
Reverse repurchase agreements (6)                            20,588    +     629    +   1,642       20,576
   Foreign official and international accounts               20,588    +     629    +   1,642       20,576
   Dealers                                                        0            0            0            0
Treasury cash holdings                                          283    -       6    -      82          287
Deposits with F.R.Banks, other than reserve balances         14,909    -     227    -   2,489       15,282       
  U.S. Treasury, general account                              4,701    -     255    -     938        5,081
  Foreign official                                               98    +      21    -      79           83
  Service-related                                             9,801    -       1    -   1,486        9,801
     Required clearing balances                               9,801    -       1    -   1,096        9,801
     Adjustments to compensate for float                          0            0    -     390            0
  Other                                                         309    +       9    +      15          317
Other liabilities and capital                                21,345    +      19    +   1,495       21,359

Total factors, other than reserve balances,                                        
   absorbing reserve funds                                  791,040    +   1,335    +  40,177      793,413

Reserve balances with Federal Reserve Banks                  15,887    +   4,082    +   2,386        8,550
                                                                

Memo (off-balance-sheet items):
  Marketable securities held in custody for foreign
         official and international accounts(2,7)         1,247,923    +   8,497    + 311,345    1,255,000
     U.S. Treasury                                        1,013,332    +   8,261    + 260,732    1,017,542
     Federal agency                                         234,590    +     234    +  50,612      237,458
  Securities lent to dealers                                    380    -     683    -   2,385          312   


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 4, 2004     Jul 28, 2004      Aug 6, 2003

Assets
Gold certificate account                                        11,040                0        +       1
Special drawing rights certificate account                       2,200                0                0
Coin                                                               740        +       5        -     130
Securities, repurchase agreements, and loans                   711,055        -   4,594        +  39,628
   Securities held outright                                    693,734        +      17        +  40,700
      U.S. Treasury (1)                                        693,734        +      17        +  40,710       
         Bills (2)                                             255,248                0        +  15,356
         Notes and bonds, nominal (2)                          421,546                0        +  22,693
         Notes and bonds, inflation-indexed (2)                 14,862                0        +   2,048
         Inflation compensation (3)                              2,078        +      17        +     613
      Federal agency (2)                                             0                0        -      10
   Repurchase agreements (4)                                    17,000        -   4,500        -   1,250    
   Loans                                                           321        -     111        +     178
Items in process of collection                      (722)        7,611        +   2,628        -   1,726
Bank premises                                                    1,709        +       2        +     123
Other assets (5)                                                38,864        +     153        +     433
      Total assets                                  (722)      773,219        -   1,807        +  38,328
                          
Liabilities
Federal Reserve notes net of FR Bank holdings                  700,882        +   1,570        +  38,656
Reverse repurchase agreements (6)                               20,576        +   1,213        +   1,514
Deposits                                              (0)       23,903        -   5,566        -   1,285       
  Depository institutions                                       18,422        -   6,233        +      82
  U.S. Treasury, general account                                 5,081        +     634        -   1,319
  Foreign official                                                  83        +       2        -      58
  Other                                               (0)          317        +      31        +      10
Deferred availability cash items                    (722)        6,499        +     735        -   2,044
Other liabilities and accrued dividends (7)                      2,446        -      19        +     321
      Total liabilities                             (722)      754,306        -   2,068        +  37,162
                          
Capital Accounts
Capital paid in                                                  9,253        +       7        +     532
Surplus                                                          8,829        +      50        +     449
Other capital accounts                                             830        +     203        +     184
      Total capital                                             18,913        +     261        +   1,166


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 4, 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             102       56,302   +     347            0           0       17,000       20,576
16 days to 90 days         219      150,366   -   2,644            0           0            0            0
91 days to 1 year            0      165,961   +     810            0           0     ------      ------
Over 1 to 5 years     ------        192,427   +   1,493            0           0     ------      ------
Over 5 to 10 years    ------         51,869   +       4            0           0     ------      ------
Over 10 years         ------         76,808   +       6            0           0     ------      ------
                   		 	
All                        321      693,734   +      17            0           0       17,000      20,576

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 4, 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                                             740         20         34         37         42         67         95         91         52         20         46        134        104
Securities, repurchase agreements,
      and loans                              711,055     32,576    317,902     20,641     29,643     52,727     46,793     62,560     20,415     15,206     18,261     31,633     62,698
   Securities held outright                  693,734     32,576    300,812     20,633     29,643     52,727     46,784     62,490     20,381     15,131     18,230     31,631     62,695
      U.S. Treasury (1)                      693,734     32,576    300,812     20,633     29,643     52,727     46,784     62,490     20,381     15,131     18,230     31,631     62,695
         Bills (2)                           255,248     11,986    110,679      7,592     10,907     19,400     17,213     22,992      7,499      5,567      6,707     11,638     23,067
         Notes and bonds(3)                  438,486     20,590    190,133     13,042     18,737     33,327     29,570     39,498     12,882      9,564     11,523     19,993     39,627
         Federal agency (2)                        0          0          0          0          0          0          0          0          0          0          0          0          0
      Repurchase agreements(4)                17,000          0     17,000          0          0          0          0          0          0          0          0          0          0
      Loans                                      321          0         90          8          0          0          9         70         34         75         30          3          3
Items in process of collection                 8,333        478        380        400        489        319      1,056        967        396        582        605        258      2,402
Bank premises                                  1,709         96        192         51        154        145        279        138         56        124         76        220        180
Other assets(5)                               38,864      1,762     14,127      1,130      2,360      5,964      2,233      3,502      1,018      1,137        812      1,026      3,795
Interdistrict settlement account                   0    + 2,623    -29,446    + 3,843    +   818    -   664    + 8,973    - 1,685    + 1,176    -   578    + 1,342    + 4,012    + 9,586
          Total Assets                       773,940     38,163    308,711     26,567     34,062     59,523     60,489     66,709     23,508     16,738     21,509     37,906     80,054

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 4, 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             821,802     38,564    316,302     32,536     34,942     61,609     72,254     67,869     24,956     15,852     23,980     43,063     89,876
  Less: notes held by F.R. Banks              120,920      4,336     31,136      8,698      5,663     11,231     17,341      7,976      3,383      1,117      4,614      7,542     17,883
    Federal Reserve notes, net                700,882     34,228    285,166     23,838     29,279     50,378     54,912     59,893     21,574     14,735     19,366     35,521     71,993
Reverse repurchase agreements (1)              20,576        966      8,922        612        879      1,564      1,388      1,853        604        449        541        938      1,859
Deposits                                       23,903      1,245      8,744        880      1,782      2,668      2,113      2,188        607        381        682        736      1,877
  Depository institutions                      18,422      1,242      3,431        879      1,779      2,522      2,111      2,184        604        380        681        735      1,873
  U.S. Treasury, general account                5,081          0      5,081          0          0          0          0          0          0          0          0          0          0
  Foreign official                                 83          2         60          1          2          7          2          3          1          1          1          0          4
  Other                                           317          1        173          0          0        139          0          1          2          0          1          0          0
Deferred availability cash items                7,220        561        666        571        468        531        842        461        146        478        503        301      1,691
Other liabilities and accrued                 
  dividends (2)                                 2,446        133        798         96        124        254        197        231        107         82         92        135        196
   
    Total liabilities                         755,028     37,133    304,295     25,997     32,532     55,395     59,452     64,627     23,038     16,126     21,185     37,631     77,616
                              
Capital                    
Capital paid in                                 9,253        506      2,116        283        759      2,077        506      1,024        232        262        153        131      1,203
Surplus                                         8,829        448      2,031        259        727      2,052        489        924        228        350        162        111      1,048
Other capital                                     830         75        269         28         44          0         41        135         10          0          9         33        186
     Total liabilities and capital            773,940     38,163    308,711     26,567     34,062     59,523     60,489     66,709     23,508     16,738     21,509     37,906     80,054
                              

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 4, 2004
              
Federal Reserve notes outstanding             821,802
   Less: Notes held by F.R. Banks
         not subject to collateralization     120,920
      Federal Reserve Notes to be
         collateralized                       700,882 
Collateral held against Federal Reserve            
   notes                                      700,882
   Gold certificate account                    11,040
   Special drawing rights                 
     certificate account                        2,200
   U.S. Treasury and agency securities   
     pledged (1)                              687,643
   Other assets pledged                             0

Memo:
Total U.S. Treasury and agency 
       securities (1)                         710,734
   Less:face value of securities under
         reverse repurchase agreements         20,582
      U.S. Treasury and agency securities
             eligible to be pledged           690,152
   

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.