Reserve Bank credit, related items, and

reserve balances of depository institutions

at Federal Reserve Banks

Reserve Bank credit 725,331 + 9,905 + 60,220 726,579

Securities held outright 653,881 + 237 + 50,788 653,941

U.S. Treasury1 653,871 + 237 + 50,788 653,931

Bills2 240,726 + 234 + 38,273 240,785

Notes and bonds, nominal2 398,853 0 + 11,624 398,853

Notes and bonds, inflation-indexed2 12,814 0 + 572 12,814

Inflation compensation3 1,478 + 4 + 320 1,479

Federal agency2 10 0 0 10

Repurchase agreements4 34,429 + 9,822 + 10,608 33,250

Loans to depository institutions 166 + 9 - 104 180

Primary credit 9 + 8 + 9 27

Secondary credit 0 0 0 0

Seasonal credit 157 + 1 - 20 153

Adjustment credit 0 0 - 93 0

Float -467 - 650 - 578 2,018

Other Federal Reserve assets 37,323 + 489 - 493 37,189

Gold stock 11,043 0 + 1 11,043

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

Treasury currency outstanding5 35,191 + 14 + 944 35,191

Total factors supplying reserve funds 773,765 + 9,919 + 61,164 775,013

Currency in circulation5 700,065 + 5,337 + 35,736 701,211

Reverse repurchase agreements6 20,022 + 799 + 20,022 18,757

Foreign official and international accounts 20,022 + 799 + 20,022 18,757

Dealers 0 0 0 0

Treasury cash holdings 335 - 3 - 26 338

Deposits with F.R. Banks, other than reserve balances 16,788 - 825 + 1,511 16,905

U.S. Treasury, general account 4,843 - 1,131 + 48 4,525

Foreign official 248 + 162 + 154 686

Service-related 11,453 + 207 + 1,269 11,453

Required clearing balances 10,910 0 + 989 10,910

Adjustments to compensate for float 543 + 206 + 280 543

Other 244 - 62 + 39 240

Other liabilities and capital 20,194 + 197 + 637 20,080

Total factors, other than reserve balances,

absorbing reserve funds 757,405 + 5,506 + 57,881 757,290

Reserve balances with Federal Reserve Banks 16,361 + 4,414 + 3,285 17,722

Memo (off-balance-sheet items):

Marketable securities held in custody for foreign

 official and international accounts2,7 953,188 + 4,438 . . . 961,027

U.S. Treasury 766,604 + 4,836 . . . 772,567

Federal agency 186,584 - 398 . . . 188,460

Securities lent to dealers 2,500 + 871 + 2,354 2,201

FEDERAL RESERVE statistical release

 September 4, 2003

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.

. . . Not available.

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 3, 2003 Week ended

 Sep 3, 2003 Aug 27, 2003 Sep 4, 2002
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 + 1

Special drawing rights certificate account 2,200 0 0

Coin 858 - 29 - 162

Securities, repurchase agreements, and loans 687,371 + 4,529 + 58,463

Securities held outright 653,941 + 260 + 50,244

U.S. Treasury1 653,931 + 260 + 50,244

Bills2 240,785 + 257 + 37,730

Notes and bonds, nominal2 398,853 0 + 11,624

Notes and bonds, inflation-indexed2 12,814 0 + 572

Inflation compensation3 1,479 + 3 + 319

Federal agency2 10 0 0

Repurchase agreements4 33,250 + 4,250 + 8,250

Loans 180 + 19 - 31

Items in process of collection (892) 12,854 + 5,268 - 359

Bank premises 1,589 - 1 + 69

Other assets5 35,449 + 60 - 681

Total assets (892) 751,360 + 9,826 + 57,331

Liabilities

Federal Reserve notes, net of F.R. Bank holdings 667,212 + 3,794 + 34,224

Reverse repurchase agreements6 18,757 - 362 + 18,757

Deposits ( 0 ) 34,317 + 2,586 + 3,695

Depository institutions 28,866 + 2,939 + 3,198

U.S. Treasury, general account 4,525 - 916 - 76

Foreign official 686 + 605 + 558

Other ( 0 ) 240 - 42 + 17

Deferred availability cash items (892) 10,994 + 3,639 - 48

Other liabilities and accrued dividends7 2,195 - 9 - 210

Total liabilities (892) 733,475 + 9,650 + 56,418

Capital accounts

Capital paid in 8,752 + 4 + 504

Surplus 8,380 0 + 1,068

Other capital accounts 752 + 172 - 661

Total capital 17,885 + 177 + 913

H.4.1

2. Consolidated Statement of Condition of All Federal Reserve Banks

Millions of dollars

Change since

Wednesday

 Sep 4, 2002

Eliminations from

consolidation Wednesday

 Sep 3, 2003

Wednesday

 Aug 27, 2003

3. Maturity Distribution of Loans and Securities, September 3, 2003

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 35 45,481 - 4,710 0 0 29,250 18,757

16 days to 90 days 145 140,939 + 5,635 0 0 4,000 0

91 days to 1 year 0 162,179 + 1,349 10 0 . . . . . . 

Over 1 year to 5 years . . . 178,017 - 2,016 0 0 . . . . . . 

Over 5 years to 10 years . . . 50,385 + 1 0 0 . . . . . . 

Over 10 years . . . 76,931 + 2 0 0 . . . . . . 

All 180 653,931 + 260 10 0 33,250 18,757

Assets, liabilities, and capital

Maturity
H.4.1

4. Statement of Condition of Each Federal Reserve Bank on September 3, 2003Millions 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 2,200 858 687,371 653,941 653,931 240,785 413,147 10 33,250 180 13,746 1,589 35,449 0 752,252

Assets, liabilities, and capital

 4,706 874 31 313,027 279,777 279,773 103,015 176,757 4 33,250 0 871 187 12,750 - 451 331,994

 495 115 30 31,616 31,615 31,615 11,641 19,974 0 0 1 1,227 91 1,626 - 58 35,142

 380 83 47 20,450 20,445 20,445 7,528 12,917 0 0 6 656 52 1,050 - 78 22,639

 477 104 36 30,642 30,642 30,642 11,283 19,359 0 0 0 723 151 2,223 - 2,220 32,136

 808 147 106 50,305 50,290 50,289 18,517 31,772 1 0 15 1,091 142 5,665 - 74 58,191

 863 166 109 44,190 44,178 44,177 16,266 27,911 1 0 12 1,058 278 2,044 + 1,227 49,935

 982 212 105 66,117 66,081 66,080 24,331 41,749 1 0 36 1,506 119 3,275 - 5,374 66,942

 331 71 58 20,601 20,574 20,574 7,575 12,998 0 0 27 680 43 895 - 1,277 21,402

 2   14,6 14,5 14,5 5,3 9,2    5 1 1,0 +  16,7
 781,724

 109,755 671,969 671,969 11,039 2,200 658,730 0 687,191 18,762 668,429

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.

 781,724 114,512 667,212 18,757 34,317 28,866 4,525 686 240 11,886 2,195 734,367 8,752 8,380 752 752,252

 31,522 4,925 26,597 907 5,763 5,752 0 2 9 842 125 34,234 446 436 26 35,142

 332,008 23,890 308,119 8,025 9,854 4,553 4,525 662 114 1,150 677 327,825 1,998 1,809 361 331,994

 27,233 8,017 19,216 586 1,544 1,543 0 1 0 687 92 22,125 253 233 28 22,639

 32,070 5,287 26,783 879 2,184 2,181 0 3 0 738 125 30,709 704 702 21 32,136

 58,653 10,151 48,503 1,443 2,903 2,786 0 7 109 935 230 54,013 2,072 2,073 34 58,191

 64,257 20,138 44,118 1,267 2,141 2,139 0 2 0 1,248 180 48,954 478 475 28 49,935

 67,164 9,140 58,025 1,895 3,968 3,962 0 3 3 967 219 65,075 917 858 93 66,942

 23,650 4,569 19,080 590 777 773 0 1 3 393 99 20,940 228 199 35 21,402

 15,8 1,5 14,3 4 7 7    4  16,0 3 3  16,7

H.4.1

4. Statement of Condition of Each Federal Reserve Bank on September 3, 2003 (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 eligible assets

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 3, 2003

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.