Reserve Bank credit, related items, and

reserve balances of depository institutions

at Federal Reserve Banks

Reserve Bank credit 755,496 + 542 + 40,027 756,575

Securities held outright 689,774 + 2,106 + 37,236 690,309

U.S. Treasury1 689,774 + 2,106 + 37,246 690,309

Bills2 255,024 + 466 + 15,639 255,178

Notes and bonds, nominal2 418,251 + 1,557 + 19,398 418,251

Notes and bonds, inflation-indexed2 14,521 + 57 + 1,707 14,862

Inflation compensation3 1,977 + 26 + 502 2,017

Federal agency2 0 0 - 10 0

Repurchase agreements4 25,250 - 1,929 + 2,357 25,500

Loans to depository institutions 243 + 19 + 129 260

Primary credit 53 - 6 + 47 51

Secondary credit 0 0 - 1 0

Seasonal credit 191 + 26 + 84 209

Float -202 - 184 - 654 -104

Other Federal Reserve assets 40,431 + 530 + 959 40,611

Gold stock 11,045 0 + 1 11,045

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

Treasury currency outstanding5 36,008 + 14 + 911 36,008

Total factors supplying reserve funds 804,749 + 557 + 40,939 805,827

Currency in circulation5 736,199 - 38 + 41,673 736,127

Reverse repurchase agreements6 19,767 - 191 - 300 19,835

Foreign official and international accounts 19,767 - 191 - 300 19,835

Dealers 0 0 0 0

Treasury cash holdings 302 - 1 - 25 302

Deposits with F.R. Banks, other than reserve balances 15,626 - 193 - 2,331 16,223

U.S. Treasury, general account 4,834 + 293 - 1,645 5,369

Foreign official 80 - 75 - 29 81

Service-related 10,424 - 439 - 638 10,424

Required clearing balances 10,424 - 439 - 439 10,424

Adjustments to compensate for float 0 0 - 199 0

Other 288 + 27 - 19 349

Other liabilities and capital 21,713 + 84 + 1,835 21,318

Total factors, other than reserve balances,

absorbing reserve funds 793,608 - 338 + 40,853 793,804

Reserve balances with Federal Reserve Banks 11,141 + 895 + 87 12,023

Memo (off-balance-sheet items):

Marketable securities held in custody for foreign

 official and international accounts2,7 1,234,008 - 1,545 + 292,555 1,236,684

U.S. Treasury 997,048 - 2,241 + 239,429 999,349

Federal agency 236,960 + 697 + 53,126 237,335

Securities lent to dealers 575 - 1,724 - 293 269

FEDERAL RESERVE statistical release

 July 15, 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

 Jul 14, 2004 Week ended

 Jul 14, 2004 Jul 7, 2004 Jul 16, 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 11,040 0 + 1

Special drawing rights certificate account 2,200 0 0

Coin 710 - 2 - 162

Securities, repurchase agreements, and loans 716,069 - 48 + 39,247

Securities held outright 690,309 + 2,416 + 37,609

U.S. Treasury1 690,309 + 2,416 + 37,619

Bills2 255,178 + 402 + 15,628

Notes and bonds, nominal2 418,251 + 1,557 + 19,398

Notes and bonds, inflation-indexed2 14,862 + 398 + 2,048

Inflation compensation3 2,017 + 59 + 544

Federal agency2 0 0 - 10

Repurchase agreements4 25,500 - 2,500 + 1,500

Loans 260 + 35 + 139

Items in process of collection (726) 6,004 - 3,062 - 2,530

Bank premises 1,697 0 + 112

Other assets5 38,898 + 503 + 1,291

Total assets (726) 776,618 - 2,609 + 37,960

Liabilities

Federal Reserve notes, net of F.R. Bank holdings 701,127 - 2,032 + 40,276

Reverse repurchase agreements6 19,835 + 7 - 511

Deposits ( 0 ) 28,231 + 1,492 - 1,369

Depository institutions 22,431 - 1,045 - 998

U.S. Treasury, general account 5,369 + 2,454 - 355

Foreign official 81 - 3 - 47

Other ( 0 ) 349 + 85 + 31

Deferred availability cash items (726) 6,108 - 1,883 - 2,103

Other liabilities and accrued dividends7 2,386 + 61 + 306

Total liabilities (726) 757,687 - 2,355 + 36,598

Capital accounts

Capital paid in 9,251 0 + 589

Surplus 8,847 0 + 469

Other capital accounts 833 - 254 + 304

Total capital 18,931 - 254 + 1,362

H.4.1

2. Consolidated Statement of Condition of All Federal Reserve Banks

Millions of dollars

Change since

Wednesday

 Jul 16, 2003

Eliminations from

consolidation Wednesday

 Jul 14, 2004

Wednesday

 Jul 7, 2004

3. Maturity Distribution of Loans and Securities, July 14, 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 68 47,148 + 320 0 0 25,500 19,835

16 days to 90 days 192 163,185 - 545 0 0 0 0

91 days to 1 year 0 161,815 + 628 0 0 . . . . . . 

Over 1 year to 5 years . . . 189,520 + 1,709 0 0 . . . . . . 

Over 5 years to 10 years . . . 51,854 + 263 0 0 . . . . . . 

Over 10 years . . . 76,786 + 41 0 0 . . . . . . 

All 260 690,309 + 2,416 0 0 25,500 19,835

Assets, liabilities, and capital

Maturity
H.4.1

4. Statement of Condition of Each Federal Reserve Bank on July 14, 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.

 11,040 2,200 710 716,069 690,309 690,309 255,178 435,131 0 25,500 260 6,730 1,697 38,898 0 777,344

Assets, liabilities, and capital

 4,650 874 29 324,827 299,327 299,327 110,649 188,678 0 25,500 0 475 191 14,017 -28,075 316,989

 494 115 24 32,415 32,415 32,415 11,983 20,433 0 0 0 388 96 1,762 + 2,380 37,674

 382 83 35 20,533 20,531 20,531 7,590 12,942 0 0 2 546 51 1,162 + 2,945 25,738

 452 104 35 29,497 29,497 29,497 10,904 18,593 0 0 0 398 154 2,368 + 5 33,013

 819 147 62 52,516 52,466 52,466 19,395 33,072 0 0 50 354 145 6,054 - 1,201 58,896

 894 166 80 46,562 46,553 46,553 17,209 29,344 0 0 9 579 279 2,230 + 8,416 59,206

 924 212 87 62,250 62,182 62,182 22,986 39,196 0 0 68 470 135 3,510 - 119 67,469

 325 71 56 20,310 20,281 20,281 7,497 12,784 0 0 30 298 53 1,011 + 1,401 23,525

 2   15,1 15,0 15,0 5,5 9,4    4 1 1,1 - 4 16,6
 817,731

 116,604 701,127 701,127 11,040 2,200 687,886 0 715,809 19,841 695,968

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.

 817,731 116,604 701,127 19,835 28,231 22,431 5,369 81 349 6,834 2,386 758,413 9,251 8,847 833 777,344

 37,935 3,833 34,102 931 1,002 1,000 0 2 1 480 128 36,643 506 448 76 37,674

 317,210 29,600 287,610 8,601 14,947 9,289 5,369 58 231 660 777 312,595 2,116 2,031 247 316,989

 31,593 8,416 23,178 590 891 889 0 1 0 421 93 25,172 278 259 30 25,738

 34,429 5,523 28,905 848 1,102 1,098 0 2 1 515 118 31,488 758 727 40 33,013

 61,548 10,918 50,630 1,508 1,855 1,737 0 7 112 488 238 54,719 2,077 2,074 26 58,896

 71,408 17,063 54,345 1,338 1,542 1,540 0 2 0 745 195 58,165 510 489 42 59,206

 68,090 7,376 60,714 1,787 2,125 2,122 0 3 0 531 231 65,388 1,028 924 129 67,469

 24,771 3,216 21,555 583 623 620 0 1 2 185 107 23,053 232 228 13 23,525

 15,6 1,1 14,5 4 4 4    5  16,0 2 3  16,6

H.4.1

4. Statement of Condition of Each Federal Reserve Bank on July 14, 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

 Jul 14, 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.