Reserve Bank credit, related items, and

reserve balances of depository institutions

at Federal Reserve Banks

Reserve Bank credit 773,351 + 2,748 + 48,246 770,798

Securities held outright 707,023 + 1,858 + 48,210 708,130

U.S. Treasury1 707,023 + 1,858 + 48,220 708,130

Bills2 259,320 + 203 + 16,887 259,393

Notes and bonds, nominal2 430,297 + 1,652 + 28,975 431,328

Notes and bonds, inflation-indexed2 15,262 0 + 1,808 15,262

Inflation compensation3 2,144 + 3 + 551 2,147

Federal agency2 0 0 - 10 0

Repurchase agreements4 24,286 + 286 + 286 20,250

Loans to depository institutions 115 - 83 - 20 82

Primary credit 8 - 43 - 74 0

Secondary credit 0 0 0 0

Seasonal credit 107 - 40 + 54 81

Float 328 + 188 - 1,139 669

Other Federal Reserve assets 41,599 + 499 + 909 41,667

Gold stock 11,043 0 0 11,043

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

Treasury currency outstanding5 36,337 + 14 + 1,024 36,337

Total factors supplying reserve funds 822,932 + 2,763 + 49,270 820,378

Currency in circulation5 742,528 + 1,840 + 39,289 744,872

Reverse repurchase agreements6 26,844 + 547 + 6,956 26,512

Foreign official and international accounts 26,844 + 547 + 7,920 26,512

Dealers 0 0 - 964 0

Treasury cash holdings 300 - 1 - 89 303

Deposits with F.R. Banks, other than reserve balances 16,262 + 448 - 1,551 15,996

U.S. Treasury, general account 5,275 + 327 - 405 4,971

Foreign official 85 - 1 - 111 82

Service-related 10,571 + 82 - 1,074 10,571

Required clearing balances 10,571 + 83 - 772 10,571

Adjustments to compensate for float 0 0 - 301 0

Other 331 + 40 + 38 372

Other liabilities and capital 23,879 - 223 + 3,854 23,626

Total factors, other than reserve balances,

absorbing reserve funds 809,814 + 2,612 + 48,461 811,308

Reserve balances with Federal Reserve Banks 13,118 + 151 + 810 9,070

Memo (off-balance-sheet items):

Marketable securities held in custody for foreign

 official and international accounts2,7 1,300,799 + 1,718 + 298,845 1,304,336

U.S. Treasury 1,052,605 + 1,399 + 253,578 1,057,454

Federal agency 248,193 + 319 + 45,266 246,882

Securities lent to dealers 441 - 1,112 - 1,119 775

FEDERAL RESERVE statistical release

 November 4, 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

 Nov 3, 2004 Week ended

 Nov 3, 2004 Oct 27, 2004 Nov 5, 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 779 + 12 - 50

Securities, repurchase agreements, and loans 728,462 - 2,158 + 50,528

Securities held outright 708,130 + 1,400 + 49,245

U.S. Treasury1 708,130 + 1,400 + 49,255

Bills2 259,393 + 192 + 16,893

Notes and bonds, nominal2 431,328 + 1,203 + 30,006

Notes and bonds, inflation-indexed2 15,262 0 + 1,808

Inflation compensation3 2,147 + 5 + 548

Federal agency2 0 0 - 10

Repurchase agreements4 20,250 - 3,500 + 1,250

Loans 82 - 58 + 33

Items in process of collection (1,034) 7,714 + 1,084 - 4,686

Bank premises 1,741 - 7 + 143

Other assets5 39,969 + 312 + 954

Total assets (1,034) 791,903 - 758 + 46,888

Liabilities

Federal Reserve notes, net of F.R. Bank holdings 709,612 + 2,461 + 38,763

Reverse repurchase agreements6 26,512 + 751 + 5,511

Deposits ( 0 ) 25,109 - 4,836 + 149

Depository institutions 19,684 - 5,263 + 117

U.S. Treasury, general account 4,971 + 389 + 356

Foreign official 82 - 31 - 376

Other ( 0 ) 372 + 69 + 52

Deferred availability cash items (1,034) 7,045 + 849 - 1,319

Other liabilities and accrued dividends7 2,949 + 100 + 672

Total liabilities (1,034) 771,227 - 675 + 43,776

Capital accounts

Capital paid in 10,544 + 17 + 1,790

Surplus 8,847 0 + 512

Other capital accounts 1,285 - 100 + 810

Total capital 20,676 - 84 + 3,112

H.4.1

2. Consolidated Statement of Condition of All Federal Reserve Banks

Millions of dollars

Change since

Wednesday

 Nov 5, 2003

Eliminations from

consolidation Wednesday

 Nov 3, 2004

Wednesday

 Oct 27, 2004

3. Maturity Distribution of Loans and Securities, November 3, 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 17 56,199 + 20,307 0 0 20,250 26,512

16 days to 90 days 65 152,081 - 18,225 0 0 0 0

91 days to 1 year 0 168,281 - 1,082 0 0 . . . . . . 

Over 1 year to 5 years . . . 203,789 + 280 0 0 . . . . . . 

Over 5 years to 10 years . . . 51,060 + 118 0 0 . . . . . . 

Over 10 years . . . 76,720 + 2 0 0 . . . . . . 

All 82 708,130 + 1,400 0 0 20,250 26,512

Assets, liabilities, and capital

Maturity
H.4.1

4. Statement of Condition of Each Federal Reserve Bank on November 3, 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 2,200 779 728,462 708,130 708,130 259,393 448,737 0 20,250 82 8,748 1,741 39,969 0 792,937

Assets, liabilities, and capital

 4,649 874 46 327,305 307,055 307,055 112,476 194,578 0 20,250 0 476 190 14,408 -28,421 319,527

 494 115 21 33,252 33,252 33,252 12,180 21,072 0 0 0 448 98 1,820 + 3,662 39,910

 382 83 54 21,066 21,062 21,062 7,715 13,347 0 0 4 382 52 1,116 + 3,680 26,815

 452 104 53 30,258 30,258 30,258 11,084 19,175 0 0 0 612 154 2,455 - 486 33,604

 819 147 70 53,821 53,821 53,821 19,715 34,106 0 0 0 524 144 6,231 + 1,029 62,785

 894 166 81 47,765 47,754 47,754 17,493 30,262 0 0 11 780 278 2,295 + 9,406 61,666

 924 212 113 63,804 63,787 63,787 23,366 40,422 0 0 17 836 147 3,620 + 42 69,698

 325 71 40 20,805 20,804 20,804 7,621 13,183 0 0 1 510 61 1,051 + 1,464 24,327

 2   15,4 15,4 15,4 5,6 9,7    5 1 1,1 - 7 16,8
 836,243

 126,631 709,612 709,612 11,039 2,200 696,373 0 728,380 26,526 701,854

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.

 836,243 126,631 709,612 26,512 25,109 19,684 4,971 82 372 8,079 2,949 772,261 10,544 8,847 1,285 792,937

 37,781 4,367 33,414 1,245 2,114 2,108 0 2 5 623 175 37,572 1,634 448 256 39,910

 324,350 32,505 291,845 11,496 9,838 4,629 4,971 58 179 894 918 314,990 2,165 2,031 342 319,527

 33,048 8,800 24,248 789 636 635 0 1 0 439 107 26,219 292 259 45 26,815

 34,780 5,692 29,088 1,133 1,188 1,185 0 2 0 508 145 32,062 762 727 52 33,604

 65,330 12,002 53,328 2,015 2,406 2,221 0 7 178 477 312 58,538 2,098 2,074 76 62,785

 72,990 17,453 55,536 1,788 2,138 2,136 0 2 0 898 222 60,583 527 489 67 61,666

 71,251 8,843 62,408 2,388 2,051 2,047 0 3 1 495 265 67,607 1,028 924 140 69,698

 25,329 3,151 22,178 779 596 588 0 1 8 166 116 23,835 241 228 23 24,327

 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 November 3, 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

 Nov 3, 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.