Reserve Bank credit, related items, and

reserve balances of depository institutions

at Federal Reserve Banks

Reserve Bank credit 765,836 - 1,645 + 38,657 767,461

Securities held outright 698,602 + 1,578 + 42,483 698,617

U.S. Treasury1 698,602 + 1,578 + 42,493 698,617

Bills2 257,062 + 1,149 + 15,535 257,079

Notes and bonds, nominal2 424,141 0 + 24,546 424,141

Notes and bonds, inflation-indexed2 15,262 + 400 + 1,808 15,262

Inflation compensation3 2,137 + 30 + 604 2,135

Federal agency2 0 0 - 10 0

Repurchase agreements4 27,571 - 3,715 - 4,536 29,500

Loans to depository institutions 254 - 338 + 76 251

Primary credit 9 - 343 - 14 6

Secondary credit 0 0 0 0

Seasonal credit 245 + 5 + 90 245

Float 140 + 408 + 755 -353

Other Federal Reserve assets 39,269 + 422 - 120 39,445

Gold stock 11,043 0 0 11,043

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

Treasury currency outstanding5 36,199 + 14 + 926 36,199

Total factors supplying reserve funds 815,279 - 1,630 + 39,584 816,903

Currency in circulation5 736,774 - 664 + 39,992 738,586

Reverse repurchase agreements6 24,291 - 523 + 2,907 24,337

Foreign official and international accounts 24,291 - 523 + 2,907 24,337

Dealers 0 0 0 0

Treasury cash holdings 299 - 13 - 44 291

Deposits with F.R. Banks, other than reserve balances 15,639 - 1,863 - 3,501 15,925

U.S. Treasury, general account 5,118 - 1,861 - 1,804 5,436

Foreign official 110 + 29 - 349 81

Service-related 10,163 - 2 - 1,352 10,163

Required clearing balances 10,163 - 2 - 1,062 10,163

Adjustments to compensate for float 0 0 - 290 0

Other 247 - 31 + 4 245

Other liabilities and capital 23,394 + 171 + 2,479 23,175

Total factors, other than reserve balances,

absorbing reserve funds 800,397 - 2,892 + 41,833 802,314

Reserve balances with Federal Reserve Banks 14,882 + 1,262 - 2,248 14,590

Memo (off-balance-sheet items):

Marketable securities held in custody for foreign

 official and international accounts2,7 1,291,580 + 1,389 + 318,050 1,291,141

U.S. Treasury 1,047,639 + 76 + 265,913 1,049,079

Federal agency 243,941 + 1,313 + 52,137 242,062

Securities lent to dealers 1,486 + 491 - 2,203 2,645

FEDERAL RESERVE statistical release

 September 30, 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

 Sep 29, 2004 Week ended

 Sep 29, 2004 Sep 22, 2004 Oct 1, 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 11,039 0 0

Special drawing rights certificate account 2,200 0 0

Coin 777 + 4 - 62

Securities, repurchase agreements, and loans 728,368 + 3,452 + 35,271

Securities held outright 698,617 + 456 + 42,421

U.S. Treasury1 698,617 + 456 + 42,431

Bills2 257,079 + 26 + 15,478

Notes and bonds, nominal2 424,141 0 + 24,546

Notes and bonds, inflation-indexed2 15,262 + 400 + 1,808

Inflation compensation3 2,135 + 30 + 600

Federal agency2 0 0 - 10

Repurchase agreements4 29,500 + 3,000 - 7,250

Loans 251 - 4 + 100

Items in process of collection (1,080) 5,602 + 308 - 1,797

Bank premises 1,731 + 8 + 137

Other assets5 37,887 + 440 + 11

Total assets (1,080) 787,605 + 4,214 + 33,560

Liabilities

Federal Reserve notes, net of F.R. Bank holdings 703,451 + 692 + 38,639

Reverse repurchase agreements6 24,337 - 219 + 2,247

Deposits ( 0 ) 30,704 + 3,617 - 7,844

Depository institutions 24,943 + 3,030 - 7,851

U.S. Treasury, general account 5,436 + 591 + 514

Foreign official 81 + 3 - 415

Other ( 0 ) 245 - 7 - 91

Deferred availability cash items (1,080) 5,938 + 100 - 2,260

Other liabilities and accrued dividends7 2,759 + 74 + 549

Total liabilities (1,080) 767,188 + 4,262 + 31,331

Capital accounts

Capital paid in 10,502 + 1 + 1,756

Surplus 8,847 0 + 467

Other capital accounts 1,068 - 49 + 7

Total capital 20,416 - 50 + 2,229

H.4.1

2. Consolidated Statement of Condition of All Federal Reserve Banks

Millions of dollars

Change since

Wednesday

 Oct 1, 2003

Eliminations from

consolidation Wednesday

 Sep 29, 2004

Wednesday

 Sep 22, 2004

3. Maturity Distribution of Loans and Securities, September 29, 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 236 53,247 - 822 0 0 29,500 24,337

16 days to 90 days 15 152,822 + 631 0 0 0 0

91 days to 1 year 0 166,092 + 217 0 0 . . . . . . 

Over 1 year to 5 years . . . 199,624 + 113 0 0 . . . . . . 

Over 5 years to 10 years . . . 50,517 + 314 0 0 . . . . . . 

Over 10 years . . . 76,315 + 3 0 0 . . . . . . 

All 251 698,617 + 456 0 0 29,500 24,337

Assets, liabilities, and capital

Maturity
H.4.1

4. Statement of Condition of Each Federal Reserve Bank on September 29, 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.

 11,039 2,200 777 728,368 698,617 698,617 257,079 441,538 0 29,500 251 6,682 1,731 37,887 0 788,685

Assets, liabilities, and capital

 4,649 874 43 332,430 302,930 302,930 111,473 191,457 0 29,500 0 507 191 13,634 -37,286 315,042

 494 115 20 32,810 32,805 32,805 12,072 20,733 0 0 5 347 97 1,712 + 3,558 39,153

 382 83 41 20,790 20,779 20,779 7,646 13,132 0 0 11 484 51 1,139 + 3,517 26,488

 452 104 44 29,852 29,852 29,852 10,985 18,867 0 0 0 371 155 2,326 + 1,057 34,359

 819 147 76 53,098 53,098 53,098 19,539 33,559 0 0 0 446 144 5,929 + 1,866 62,526

 894 166 87 47,128 47,113 47,113 17,337 29,776 0 0 15 673 279 2,164 +11,330 62,720

 924 212 101 63,004 62,930 62,930 23,157 39,773 0 0 74 458 145 3,413 - 66 68,191

 325 71 51 20,552 20,525 20,525 7,553 12,972 0 0 28 301 59 987 + 1,659 24,004

 2   15,3 15,2 15,2 5,6 9,6    4 1 1,1 - 4 16,8
 830,341

 126,891 703,451 703,451 11,039 2,200 690,212 0 728,117 24,348 703,769

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.

 830,341 126,891 703,451 24,337 30,704 24,943 5,436 81 245 7,018 2,759 768,269 10,502 8,847 1,068 788,685

 38,135 4,463 33,671 1,143 1,439 1,436 0 2 1 515 161 36,929 1,634 448 142 39,153

 320,002 34,988 285,014 10,553 13,426 7,767 5,436 58 165 670 878 310,542 2,159 2,031 310 315,042

 32,775 8,949 23,826 724 774 773 0 1 0 478 105 25,907 285 259 37 26,488

 35,035 5,774 29,261 1,040 1,975 1,970 0 2 3 404 138 32,819 762 727 51 34,359

 64,214 11,669 52,544 1,850 3,183 3,107 0 7 69 437 303 58,316 2,089 2,074 46 62,526

 73,203 16,387 56,817 1,641 2,145 2,142 0 2 2 829 227 61,659 517 489 55 62,720

 68,979 8,368 60,611 2,192 2,500 2,497 0 3 0 548 256 66,106 1,025 924 135 68,191

 25,239 3,295 21,945 715 547 545 0 1 1 200 120 23,526 238 228 11 24,004

 16,1 1,6 14,5 5 4 4    6  16,2 2 3  16,8

H.4.1

4. Statement of Condition of Each Federal Reserve Bank on September 29, 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

 Sep 29, 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.