Reserve Bank credit, related items, and

reserve balances of depository institutions

at Federal Reserve Banks

Reserve Bank credit 778,583 + 3,816 + 50,601 774,190

Securities held outright 709,268 + 445 + 47,305 710,134

U.S. Treasury1 709,268 + 445 + 47,315 710,134

Bills2 259,732 + 94 + 16,846 259,739

Notes and bonds, nominal2 431,670 + 342 + 27,675 432,526

Notes and bonds, inflation-indexed2 15,683 0 + 2,229 15,683

Inflation compensation3 2,182 + 8 + 565 2,186

Federal agency2 0 0 - 10 0

Repurchase agreements4 27,107 + 3,464 + 3,036 24,000

Loans to depository institutions 511 + 426 + 446 82

Primary credit 431 + 425 + 409 5

Secondary credit 0 0 0 0

Seasonal credit 80 + 1 + 37 77

Float 754 + 687 - 1,078 956

Other Federal Reserve assets 40,943 - 1,206 + 894 39,018

Gold stock 11,043 0 0 11,043

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

Treasury currency outstanding5 36,363 + 14 + 989 36,363

Total factors supplying reserve funds 828,189 + 3,830 + 51,590 823,795

Currency in circulation5 748,425 + 2,973 + 41,599 748,852

Reverse repurchase agreements6 27,349 + 239 + 8,122 27,729

Foreign official and international accounts 27,349 + 239 + 8,122 27,729

Dealers 0 0 0 0

Treasury cash holdings 300 - 3 - 42 295

Deposits with F.R. Banks, other than reserve balances 15,211 - 788 - 1,660 15,203

U.S. Treasury, general account 4,824 - 188 + 173 4,851

Foreign official 93 - 29 + 13 85

Service-related 9,963 - 609 - 1,838 9,963

Required clearing balances 9,963 - 609 - 1,487 9,963

Adjustments to compensate for float 0 0 - 351 0

Other 331 + 38 - 8 304

Other liabilities and capital 24,542 + 463 + 3,796 24,907

Total factors, other than reserve balances,

absorbing reserve funds 815,826 + 2,883 + 51,813 816,986

Reserve balances with Federal Reserve Banks 12,363 + 947 - 223 6,809

Memo (off-balance-sheet items):

Marketable securities held in custody for foreign

 official and international accounts2,7 1,313,709 + 7,763 + 299,566 1,321,088

U.S. Treasury 1,062,273 + 3,574 + 257,593 1,067,166

Federal agency 251,436 + 4,189 + 41,974 253,922

Securities lent to dealers 2,026 + 327 + 80 1,408

FEDERAL RESERVE statistical release

 November 18, 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 17, 2004 Week ended

 Nov 17, 2004 Nov 10, 2004 Nov 19, 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 756 - 16 - 54

Securities, repurchase agreements, and loans 734,216 - 4,271 + 49,456

Securities held outright 710,134 + 1,225 + 47,421

U.S. Treasury1 710,134 + 1,225 + 47,431

Bills2 259,739 + 19 + 16,781

Notes and bonds, nominal2 432,526 + 1,198 + 27,857

Notes and bonds, inflation-indexed2 15,683 0 + 2,229

Inflation compensation3 2,186 + 8 + 565

Federal agency2 0 0 - 10

Repurchase agreements4 24,000 - 5,500 + 2,000

Loans 82 + 5 + 35

Items in process of collection (882) 8,228 + 1,157 - 470

Bank premises 1,747 + 2 + 145

Other assets5 37,323 - 3,194 + 999

Total assets (882) 795,509 - 6,323 + 50,076

Liabilities

Federal Reserve notes, net of F.R. Bank holdings 713,536 - 688 + 40,102

Reverse repurchase agreements6 27,729 + 262 + 9,827

Deposits (-1) 22,065 - 7,727 - 3,859

Depository institutions 16,825 - 8,017 - 3,540

U.S. Treasury, general account 4,851 + 286 - 324

Foreign official 85 + 3 + 9

Other ( - 1 ) 304 0 - 4

Deferred availability cash items (883) 7,272 + 693 - 427

Other liabilities and accrued dividends7 2,926 + 39 + 617

Total liabilities (882) 773,529 - 7,419 + 46,261

Capital accounts

Capital paid in 11,546 + 929 + 2,760

Surplus 8,847 0 + 467

Other capital accounts 1,588 + 169 + 589

Total capital 21,981 + 1,098 + 3,816

H.4.1

2. Consolidated Statement of Condition of All Federal Reserve Banks

Millions of dollars

Change since

Wednesday

 Nov 19, 2003

Eliminations from

consolidation Wednesday

 Nov 17, 2004

Wednesday

 Nov 10, 2004

3. Maturity Distribution of Loans and Securities, November 17, 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 71 51,157 + 9,223 0 0 24,000 27,729

16 days to 90 days 11 150,923 - 16,241 0 0 0 0

91 days to 1 year 0 171,751 + 2,886 0 0 . . . . . . 

Over 1 year to 5 years . . . 206,675 + 2,882 0 0 . . . . . . 

Over 5 years to 10 years . . . 53,998 + 3,668 0 0 . . . . . . 

Over 10 years . . . 75,630 - 1,192 0 0 . . . . . . 

All 82 710,134 + 1,225 0 0 24,000 27,729

Assets, liabilities, and capital

Maturity
H.4.1

4. Statement of Condition of Each Federal Reserve Bank on November 17, 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 2,200 756 734,216 710,134 710,134 259,739 450,395 0 24,000 82 9,110 1,747 37,323 0 796,391

Assets, liabilities, and capital

 4,649 874 46 331,923 307,923 307,923 112,626 195,297 0 24,000 0 636 191 13,191 -29,446 322,064

 494 115 23 33,346 33,346 33,346 12,197 21,149 0 0 0 359 99 1,697 + 2,654 38,786

 382 83 57 21,126 21,121 21,121 7,725 13,396 0 0 5 780 52 1,038 + 4,020 27,537

 452 104 53 30,344 30,344 30,344 11,099 19,245 0 0 0 649 154 2,362 - 821 33,297

 819 147 62 53,973 53,973 53,973 19,741 34,232 0 0 0 412 144 6,079 + 2,284 63,919

 894 166 78 47,901 47,890 47,890 17,516 30,373 0 0 11 922 278 2,107 +10,127 62,472

 924 212 108 63,988 63,968 63,968 23,397 40,571 0 0 20 775 148 3,385 + 403 69,944

 325 71 40 20,863 20,863 20,863 7,631 13,232 0 0 0 386 62 982 + 1,604 24,334

 2   15,5 15,4 15,4 5,6 9,8    7 1 1,1 - 1,0 16,7
 839,757

 126,221 713,536 713,536 11,039 2,200 700,297 0 734,134 27,746 706,388

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.

 839,757 126,221 713,536 27,729 22,064 16,825 4,851 85 304 8,155 2,926 774,411 11,546 8,847 1,588 796,391

 37,618 4,153 33,465 1,302 892 878 0 2 12 553 179 36,391 1,634 448 313 38,786

 326,180 31,002 295,177 12,024 7,253 2,157 4,851 62 184 819 978 316,251 3,409 2,031 372 322,064

 32,976 8,589 24,387 825 794 793 0 1 0 818 110 26,933 293 259 53 27,537

 34,632 5,731 28,902 1,185 978 975 0 2 1 464 149 31,679 789 727 101 33,297

 65,601 12,419 53,182 2,108 3,566 3,465 0 7 95 470 309 59,634 2,097 2,074 113 63,919

 73,614 17,027 56,587 1,870 1,794 1,792 0 2 1 902 229 61,382 526 489 75 62,472

 72,358 9,343 63,015 2,498 1,843 1,839 0 3 1 465 267 68,088 763 924 170 69,944

 25,256 3,073 22,183 815 523 513 0 1 9 189 118 23,828 236 228 42 24,334

 16,3 1,9 14,3 6 3 3    6  16,0 2 3  16,7

H.4.1

4. Statement of Condition of Each Federal Reserve Bank on November 17, 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 17, 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.