FEDERAL RESERVE Statistical Release

H.4.1
Factors Affecting Reserve Balances of Depository Institutions and
Condition Statement of Federal Reserve Banks
                                                                                          November 13, 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           Nov 12, 2003  Nov 5, 2003 Nov 13, 2002 Nov 12, 2003
Federal Reserve Banks

Reserve Bank Credit                                         722,260    -   2,866    +  55,911      725,946
 Securities held outright                                   660,213    +   1,400    +  51,723      660,289       
    U.S. Treasury (1)                                       660,203    +   1,400    +  51,723      660,279
       Bills (2)                                            242,720    +     287    +  36,273      242,792
       Notes and bonds, nominal (2)                         402,422    +   1,100    +  13,856      402,422
       Notes and bonds, inflation-indexed (2)                13,454            0    +   1,212       13,454
       Inflation compensation (3)                             1,606    +      13    +     382        1,610
    Federal agency (2)                                           10            0            0           10      
 Repurchase agreements(4)                                    20,464    -   3,536    +   3,643       24,000
 Loans to depository institutions                                52    -      83    -     256           51
    Primary credit                                                3    -      79    +       3            3
    Secondary credit                                              0            0            0            0
    Seasonal credit                                              48    -       5    -      18           48
    Adjustment credit                                             0            0    -     242            0
 Float                                                          483    -   1,008    -     166          252
 Other Federal Reserve assets                                41,048    +     361    +     967       41,353
Gold stock                                                   11,043            0    +       1       11,043
Special drawing rights certificate account                    2,200            0            0        2,200
Treasury currency outstanding (5)                            35,377    +      14    +     970       35,377
       
Total factors supplying reserve funds                       770,881    -   2,851    +  56,883      774,566
                                                                   
Currency in circulation(5)                                  706,365    +   3,076    +  38,286      708,583
Reverse repurchase agreements (6)                            17,554    -   2,334    +  17,554       17,386
   Foreign official and international accounts               17,554    -   1,370    +  17,554       17,386
   Dealers                                                        0    -     964            0            0
Treasury cash holdings                                          375    -      14    -      11          348
Deposits with F.R.Banks, other than reserve balances         16,855    -   1,037    +   1,201       16,653       
  U.S. Treasury, general account                              4,876    -     804    -     137        4,614
  Foreign official                                               91    -     105    +      14          147
  Service-related                                            11,579    -     145    +   1,251       11,579
     Required clearing balances                              11,425    +       2    +   1,367       11,425
     Adjustments to compensate for float                        154    -     147    -     116          154
  Other                                                         309    +      16    +      73          314
Other liabilities and capital                                20,243    +     218    +     231       20,446

Total factors, other than reserve balances,                                        
   absorbing reserve funds                                  761,392    -      91    +  57,261      763,416

Reserve balances with Federal Reserve Banks                   9,489    -   2,761    -     378       11,150
                                                                

Memo (off-balance-sheet items):
  Marketable securities held in custody for foreign
         official and international accounts(2,7)         1,002,253    +     299     ------      1,005,334
     U.S. Treasury                                          799,454    +     427     ------        799,679
     Federal agency                                         202,799    -     128     ------        205,655
  Securities lent to dealers                                  1,502    -      58    +     674        1,315   


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 Nov 12, 2003      Nov 5, 2003     Nov 13, 2002

Assets
Gold certificate account                                        11,039                0        +       1
Special drawing rights certificate account                       2,200                0                0
Coin                                                               819        -      10        -     261
Securities, repurchase agreements, and loans                   684,340        +   6,406        +  54,279
   Securities held outright                                    660,289        +   1,404        +  51,295
      U.S. Treasury (1)                                        660,279        +   1,404        +  51,295       
         Bills (2)                                             242,792        +     292        +  35,843
         Notes and bonds, nominal (2)                          402,422        +   1,100        +  13,856
         Notes and bonds, inflation-indexed (2)                 13,454                0        +   1,212
         Inflation compensation (3)                              1,610        +      11        +     383
      Federal agency (2)                                            10                0                0
   Repurchase agreements (4)                                    24,000        +   5,000        +   3,000    
   Loans                                                            51        +       2        -      16
Items in process of collection                      (157)        6,787        -   5,613        -   8,794
Bank premises                                                    1,600        +       2        +      70
Other assets (5)                                                39,716        +     701        +     980
      Total assets                                  (157)      746,501        +   1,486        +  46,274
                          
Liabilities
Federal Reserve notes net of FR Bank holdings                  674,369        +   3,520        +  37,868
Reverse repurchase agreements (6)                               17,386        -   3,615        +  17,386
Deposits                                              (0)       27,724        +   2,764        -   4,427       
  Depository institutions                                       22,650        +   3,083        -   4,595
  U.S. Treasury, general account                                 4,614        -       1        +      22
  Foreign official                                                 147        -     311        +      71
  Other                                               (0)          314        -       6        +      76
Deferred availability cash items                    (157)        6,576        -   1,788        -   5,306
Other liabilities and accrued dividends (7)                      2,314        +      37        -     155
      Total liabilities                             (157)      728,369        +     918        +  45,366
                          
Capital Accounts
Capital paid in                                                  8,784        +      30        +     499
Surplus                                                          8,380        +      45        +   1,068
Other capital accounts                                             968        +     493        -     659
      Total capital                                             18,132        +     568        +     909


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 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,  November 12, 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              13       34,595   -  14,230            0           0       24,000       17,386
16 days to 90 days          38      159,321   +  14,583           10           0            0            0
91 days to 1 year            0      157,975   +   1,039            0           0     ------      ------
Over 1 to 5 years     ------        179,303   +       3            0           0     ------      ------
Over 5 to 10 years    ------         51,966   +       4            0           0     ------      ------
Over 10 years         ------         77,119   +       5            0           0     ------      ------
                   		 	
All                         51      660,279   +   1,404           10           0       24,000      17,386

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  November 12, 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                                             819         27         34         45         36         94        101         97         56         24         51        147        106
Securities, repurchase agreements,
      and loans                              684,340     31,922    306,493     20,646     30,940     50,778     44,607     66,732     20,775     14,760     17,758     25,876     53,053
   Securities held outright                  660,289     31,922    282,493     20,643     30,940     50,778     44,607     66,722     20,774     14,739     17,745     25,876     53,050
      U.S. Treasury (1)                      660,279     31,922    282,489     20,643     30,939     50,778     44,606     66,721     20,773     14,738     17,745     25,876     53,050
         Bills (2)                           242,792     11,738    103,874      7,591     11,377     18,671     16,402     24,534      7,639      5,419      6,525      9,515     19,507
         Notes and bonds(3)                  417,487     20,184    178,614     13,052     19,562     32,106     28,204     42,187     13,135      9,319     11,220     16,361     33,543
         Federal agency (2)                       10          0          4          0          0          1          1          1          0          0          0          0          1
      Repurchase agreements(4)                24,000          0     24,000          0          0          0          0          0          0          0          0          0          0
      Loans                                       51          0          0          3          0          0          1          9          2         22         13          0          2
Items in process of collection                 6,944        374        378        284        365         66        197        667        291        445        598        322      2,958
Bank premises                                  1,600         92        190         52        150        144        277        122         43        125         55        174        177
Other assets(5)                               39,716      1,840     14,322      1,105      2,471      6,230      2,317      3,712      1,031      1,183        949      1,148      3,407
Interdistrict settlement account                   0    +   805    -    73    -   314    - 2,299    -   979    + 1,737    - 7,833    - 1,492    +    59    -   682    + 4,152    + 6,919
          Total Assets                       746,658     35,670    326,923     22,281     32,244     57,288     50,265     64,691     21,108     16,849     19,099     32,424     67,817

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  November 12, 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             790,465     37,016    326,176     27,987     33,159     59,128     65,074     66,988     23,294     15,693     21,374     37,513     77,064
  Less: notes held by F.R. Banks              116,096      5,429     23,014      8,411      5,447      9,747     19,160      9,585      4,389      1,457      4,472      7,600     17,386
    Federal Reserve notes, net                674,369     31,587    303,162     19,576     27,712     49,381     45,914     57,403     18,905     14,236     16,901     29,913     59,679
Reverse repurchase agreements (1)              17,386        841      7,438        544        815      1,337      1,175      1,757        547        388        467        681      1,397
Deposits                                       27,724      1,836     10,860      1,113      1,832      1,859      1,485      2,589        793        846        988      1,056      2,467
  Depository institutions                      22,650      1,833      5,963      1,112      1,828      1,706      1,483      2,585        790        845        986      1,055      2,464
  U.S. Treasury, general account                4,614          0      4,614          0          0          0          0          0          0          0          0          0          0
  Foreign official                                147          2        123          1          3          7          2          3          1          1          1          1          3
  Other                                           314          1        160          0          2        146          1          0          2          0          1          1          0
Deferred availability cash items                6,733        350        523        416        289        270        503        807        279        581        242        267      2,204
Other liabilities and accrued                 
  dividends (2)                                 2,314        129        707         96        129        252        185        238        105         86         88        117        183
   
    Total liabilities                         728,526     34,743    322,690     21,746     30,777     53,100     49,262     62,793     20,629     16,136     18,687     32,033     65,931
                              
Capital                    
Capital paid in                                 8,784        448      2,003        259        725      2,066        485        918        231        348        196        184        920
Surplus                                         8,380        436      1,809        233        702      2,073        475        858        199        340        201        186        868
Other capital                                     968         43        421         43         40         48         43        123         49         25         15         21         97
     Total liabilities and capital            746,658     35,670    326,923     22,281     32,244     57,288     50,265     64,691     21,108     16,849     19,099     32,424     67,817
                              

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
                                          Nov 12, 2003
              
Federal Reserve notes outstanding             790,465
   Less: Notes held by F.R. Banks
         not subject to collateralization     116,096
      Federal Reserve Notes to be
         collateralized                       674,369 
Collateral held against Federal Reserve            
   notes                                      674,369
   Gold certificate account                    11,039
   Special drawing rights                 
     certificate account                        2,200
   U.S. Treasury and agency securities   
     pledged (1)                              661,130
   Other assets pledged                             0

Memo:
Total U.S. Treasury and agency 
       securities (1)                         684,289
   Less:face value of securities under
         reverse repurchase agreements         17,409
      U.S. Treasury and agency securities
             eligible to be pledged           666,880
   

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.