FEDERAL RESERVE Statistical Release

H.4.1
Factors Affecting Reserve Balances of Depository Institutions and
Condition Statement of Federal Reserve Banks
                                                                                           October 16, 2003
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           Oct 15, 2003  Oct 8, 2003 Oct 16, 2002 Oct 15, 2003
Federal Reserve Banks

Reserve Bank Credit                                         722,887    +   7,849    +  61,218      729,755
 Securities held outright                                   656,416    +     174    +  46,773      656,499       
    U.S. Treasury (1)                                       656,406    +     174    +  46,773      656,489
       Bills (2)                                            241,799    +     160    +  34,164      241,879
       Notes and bonds, nominal (2)                         399,595            0    +  11,029      399,595
       Notes and bonds, inflation-indexed (2)                13,454            0    +   1,212       13,454
       Inflation compensation (3)                             1,557    +      14    +     368        1,561
    Federal agency (2)                                           10            0            0           10      
 Repurchase agreements(4)                                    26,393    +   7,143    +  13,857       30,250
 Loans to depository institutions                               102    -      25    -      27          110
    Primary credit                                                4    +       2    +       4           13
    Secondary credit                                              0            0            0            0
    Seasonal credit                                              98    -      27    -      26           97
    Adjustment credit                                             0            0    -       5            0
 Float                                                         -282    +       5    -     940        2,978
 Other Federal Reserve assets                                40,258    +     553    +   1,555       39,917
Gold stock                                                   11,043            0    +       1       11,043
Special drawing rights certificate account                    2,200            0            0        2,200
Treasury currency outstanding (5)                            35,285    +      14    +     942       35,285
       
Total factors supplying reserve funds                       771,415    +   7,863    +  62,161      778,283
                                                                   
Currency in circulation(5)                                  703,116    +   4,137    +  38,704      704,151
Reverse repurchase agreements (6)                            19,095    -     227    +  19,095       18,642
   Foreign official and international accounts               19,095    -     227    +  19,095       18,642
   Dealers                                                        0            0            0            0
Treasury cash holdings                                          373    +      15    -      11          387
Deposits with F.R.Banks, other than reserve balances         15,566    -   1,523    +     648       16,681       
  U.S. Treasury, general account                              3,745    -   1,440    -     582        4,857
  Foreign official                                              139    +      34    +      62          165
  Service-related                                            11,370    -      85    +   1,071       11,370
     Required clearing balances                              11,252    +       1    +   1,253       11,252
     Adjustments to compensate for float                        118    -      86    -     182          118
  Other                                                         312    -      33    +      96          289
Other liabilities and capital                                20,523    -      55    +     988       19,974

Total factors, other than reserve balances,                                        
   absorbing reserve funds                                  758,672    +   2,345    +  59,424      759,834

Reserve balances with Federal Reserve Banks                  12,742    +   5,517    +   2,737       18,449
                                                                

Memo (off-balance-sheet items):
  Marketable securities held in custody for foreign
         official and international accounts(2,7)           990,783    -     985     ------      1,000,170
     U.S. Treasury                                          797,796    -     871     ------        805,226
     Federal agency                                         192,987    -     114     ------        194,944
  Securities lent to dealers                                    959    -   1,379    -   1,323        1,639   


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.


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 Oct 15, 2003      Oct 8, 2003     Oct 16, 2002

Assets
Gold certificate account                                        11,039                0        +       1
Special drawing rights certificate account                       2,200                0                0
Coin                                                               813        -      13        -     246
Securities, repurchase agreements, and loans                   686,859        +  10,714        +  62,579
   Securities held outright                                    656,499        +     219        +  46,129
      U.S. Treasury (1)                                        656,489        +     219        +  46,129       
         Bills (2)                                             241,879        +     207        +  33,522
         Notes and bonds, nominal (2)                          399,595                0        +  11,029
         Notes and bonds, inflation-indexed (2)                 13,454                0        +   1,212
         Inflation compensation (3)                              1,561        +      13        +     366
      Federal agency (2)                                            10                0                0
   Repurchase agreements (4)                                    30,250        +  10,500        +  16,500    
   Loans                                                           110        -       5        -      49
Items in process of collection                    (1,327)       14,302        +   6,551        -   1,793
Bank premises                                                    1,596        +       1        +      70
Other assets (5)                                                38,306        -     135        +   1,168
      Total assets                                (1,327)      755,114        +  17,118        +  61,779
                          
Liabilities
Federal Reserve notes net of FR Bank holdings                  670,061        +   2,887        +  37,928
Reverse repurchase agreements (6)                               18,642        -     309        +  18,642
Deposits                                              (0)       35,130        +  11,512        +   4,777       
  Depository institutions                                       29,820        +  11,552        +   4,350
  U.S. Treasury, general account                                 4,857        -      78        +     265
  Foreign official                                                 165        +      84        +      90
  Other                                               (0)          289        -      45        +      74
Deferred availability cash items                  (1,327)       11,307        +   3,349        -     260
Other liabilities and accrued dividends (7)                      2,239        -       8        -     154
      Total liabilities                           (1,327)      737,379        +  17,430        +  60,934
                          
Capital Accounts
Capital paid in                                                  8,739        -       8        +     469
Surplus                                                          8,375        -       5        +   1,063
Other capital accounts                                             621        -     299        -     688
      Total capital                                             17,735        -     313        +     845


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 collatealized 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,   October 15, 2003
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              37       45,028   -     414            0           0       30,250       18,642
16 days to 90 days          73      147,680   +     940           10           0            0            0
91 days to 1 year            0      158,103   -     319            0           0     ------      ------
Over 1 to 5 years     ------        176,910   +       3            0           0     ------      ------
Over 5 to 10 years    ------         51,669   +       5            0           0     ------      ------
Over 10 years         ------         77,100   +       5            0           0     ------      ------
                   		 	
All                        110      656,489   +     219           10           0       30,250      18,642

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   October 15, 2003
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                      11,039        495      4,706        380        477        808        863        982        331        224        303        507        963
Special drawing rights certificate acct.       2,200        115        874         83        104        147        166        212         71         30         66         98        234
Coin                                             813         26         38         35         34         97        104        101         55         24         46        152        100
Securities, repurchase agreements,
      and loans                              686,859     31,739    311,122     20,525     30,762     50,491     44,352     66,369     20,674     14,688     17,660     25,728     52,751
   Securities held outright                  656,499     31,739    280,872     20,525     30,762     50,487     44,351     66,339     20,654     14,654     17,643     25,728     52,746
      U.S. Treasury (1)                      656,489     31,738    280,867     20,525     30,762     50,486     44,350     66,338     20,654     14,654     17,643     25,728     52,745
         Bills (2)                           241,879     11,694    103,484      7,562     11,334     18,601     16,340     24,442      7,610      5,399      6,500      9,479     19,434
         Notes and bonds(3)                  414,610     20,045    177,384     12,962     19,428     31,885     28,009     41,897     13,044      9,255     11,142     16,248     33,312
         Federal agency (2)                       10          0          4          0          0          1          1          1          0          0          0          0          1
      Repurchase agreements(4)                30,250          0     30,250          0          0          0          0          0          0          0          0          0          0
      Loans                                      110          0          0          0          0          4          2         29         19         34         17          0          5
Items in process of collection                15,629        986      1,528        992        836      1,298      1,495      1,354        779        702      1,045        742      3,872
Bank premises                                  1,596         91        190         52        150        143        277        120         43        125         54        172        176
Other assets(5)                               38,306      1,773     13,742      1,060      2,400      6,102      2,216      3,568        986      1,147        909      1,092      3,311
Interdistrict settlement account                   0    + 4,138    - 2,224    - 1,445    - 1,454    -   473    + 2,575    - 7,779    - 1,659    -    36    -   560    + 3,037    + 5,880
          Total Assets                       756,441     39,364    329,975     21,681     33,309     58,614     52,048     64,926     21,280     16,904     19,523     31,529     67,288

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   October 15, 2003
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             789,005     35,606    328,920     27,431     33,092     59,459     64,090     66,951     23,499     15,789     21,512     36,454     76,202
  Less: notes held by F.R. Banks              118,943      5,373     24,274      8,834      5,336     10,110     18,306     10,249      4,476      1,612      4,609      7,877     17,885
    Federal Reserve notes, net                670,061     30,232    304,647     18,596     27,756     49,349     45,783     56,702     19,023     14,177     16,903     28,577     58,317
Reverse repurchase agreements (1)              18,642        901      7,975        583        874      1,434      1,259      1,884        586        416        501        731      1,498
Deposits                                       35,130      6,348     11,197      1,077      2,375      2,577      2,571      3,133        710        868        915      1,144      2,216
  Depository institutions                      29,820      6,340      6,040      1,075      2,371      2,459      2,569      3,129        702        866        913      1,143      2,212
  U.S. Treasury, general account                4,857          0      4,857          0          0          0          0          0          0          0          0          0          0
  Foreign official                                165          2        141          1          3          7          2          3          1          1          1          1          3
  Other                                           289          7        159          1          1        111          0          0          8          0          1          1          0
Deferred availability cash items               12,634        847      1,330        815        765        887      1,279      1,124        392        660        714        585      3,236
Other liabilities and accrued                 
  dividends (2)                                 2,239        132        686         93        124        238        178        226        103         87         85        116        172
   
    Total liabilities                         738,706     38,461    325,835     21,164     31,892     54,485     51,070     63,069     20,815     16,207     19,119     31,152     65,438
                              
Capital                    
Capital paid in                                 8,739        448      1,998        255        705      2,061        482        917        229        347        196        184        918
Surplus                                         8,375        436      1,809        233        702      2,068        475        858        199        340        201        186        868
Other capital                                     621         19        334         29         10          0         21         83         38          9          8          7         64
     Total liabilities and capital            756,441     39,364    329,975     21,681     33,309     58,614     52,048     64,926     21,280     16,904     19,523     31,529     67,288
                              

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
                                          Oct 15, 2003
              
Federal Reserve notes outstanding             789,005
   Less: Notes held by F.R. Banks
         not subject to collateralization     114,046
      Federal Reserve Notes to be
         collateralized                       674,958 
Collateral held against Federal Reserve            
   notes                                      674,958
   Gold certificate account                    11,039
   Special drawing rights                 
     certificate account                        2,200
   U.S. Treasury and agency securities   
     pledged (1)                              661,719
   Other eligible assets                            0

Memo:
Total U.S. Treasury and agency 
       securities (1)                         686,749
   Less:face value of securities under
         reverse repurchase agreements         18,646
      U.S. Treasury and agency securities
             eligible to be pledged           668,104
   

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.