Reserve Bank credit, related items, and

reserve balances of depository institutions

at Federal Reserve Banks

Reserve Bank credit 727,983 + 5,744 + 61,911 723,987

Securities held outright 661,963 + 1,750 + 53,900 662,713

U.S. Treasury1 661,953 + 1,750 + 53,900 662,703

Bills2 242,886 + 166 + 36,871 242,958

Notes and bonds, nominal2 403,995 + 1,573 + 15,429 404,669

Notes and bonds, inflation-indexed2 13,454 0 + 1,212 13,454

Inflation compensation3 1,617 + 11 + 388 1,621

Federal agency2 10 0 0 10

Repurchase agreements4 24,071 + 3,607 + 3,142 22,000

Loans to depository institutions 65 + 13 - 306 47

Primary credit 22 + 19 + 22 3

Secondary credit 0 0 0 0

Seasonal credit 43 - 5 - 17 44

Adjustment credit 0 0 - 310 0

Float 1,834 + 1,372 + 2,144 1,265

Other Federal Reserve assets 40,049 - 998 + 3,029 37,962

Gold stock 11,043 0 + 1 11,043

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

Treasury currency outstanding5 35,391 + 14 + 963 35,391

Total factors supplying reserve funds 776,618 + 5,759 + 62,875 772,622

Currency in circulation5 706,844 + 479 + 39,031 707,714

Reverse repurchase agreements6 19,227 + 1,673 + 19,227 17,902

Foreign official and international accounts 19,227 + 1,673 + 19,227 17,902

Dealers 0 0 0 0

Treasury cash holdings 342 - 33 - 45 305

Deposits with F.R. Banks, other than reserve balances 17,270 + 415 + 1,543 17,759

U.S. Treasury, general account 4,651 - 225 - 217 5,175

Foreign official 80 - 11 - 67 76

Service-related 12,200 + 621 + 1,739 12,200

Required clearing balances 11,849 + 424 + 1,566 11,849

Adjustments to compensate for float 351 + 197 + 173 351

Other 339 + 30 + 89 308

Other liabilities and capital 20,746 + 503 + 955 20,474

Total factors, other than reserve balances,

absorbing reserve funds 764,429 + 3,037 + 60,711 764,155

Reserve balances with Federal Reserve Banks 12,189 + 2,721 + 2,164 8,467

Memo (off-balance-sheet items):

Marketable securities held in custody for foreign

 official and international accounts2,7 1,014,143 + 11,890 . . . 1,021,962

U.S. Treasury 804,680 + 5,226 . . . 811,119

Federal agency 209,462 + 6,663 . . . 210,843

Securities lent to dealers 1,946 + 444 - 271 3,565

FEDERAL RESERVE statistical release

 November 20, 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

 Nov 19, 2003 Week ended

 Nov 19, 2003 Nov 12, 2003 Nov 20, 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 810 - 9 - 266

Securities, repurchase agreements, and loans 684,760 + 420 + 59,048

Securities held outright 662,713 + 2,424 + 56,307

U.S. Treasury1 662,703 + 2,424 + 56,307

Bills2 242,958 + 166 + 38,603

Notes and bonds, nominal2 404,669 + 2,247 + 16,103

Notes and bonds, inflation-indexed2 13,454 0 + 1,212

Inflation compensation3 1,621 + 11 + 389

Federal agency2 10 0 0

Repurchase agreements4 22,000 - 2,000 + 2,750

Loans 47 - 4 - 10

Items in process of collection (1,079) 8,698 + 1,911 + 462

Bank premises 1,602 + 2 + 69

Other assets5 36,324 - 3,392 + 1,330

Total assets (1,079) 745,433 - 1,068 + 60,645

Liabilities

Federal Reserve notes, net of F.R. Bank holdings 673,434 - 935 + 37,536

Reverse repurchase agreements6 17,902 + 516 + 17,902

Deposits ( 0 ) 25,924 - 1,800 + 4,160

Depository institutions 20,365 - 2,285 + 3,422

U.S. Treasury, general account 5,175 + 561 + 656

Foreign official 76 - 71 + 4

Other ( 0 ) 308 - 6 + 77

Deferred availability cash items (1,079) 7,699 + 1,123 - 121

Other liabilities and accrued dividends7 2,309 - 5 - 112

Total liabilities (1,079) 727,268 - 1,101 + 59,365

Capital accounts

Capital paid in 8,786 + 2 + 482

Surplus 8,380 0 + 1,068

Other capital accounts 999 + 31 - 271

Total capital 18,165 + 33 + 1,280

H.4.1

2. Consolidated Statement of Condition of All Federal Reserve Banks

Millions of dollars

Change since

Wednesday

 Nov 20, 2002

Eliminations from

consolidation Wednesday

 Nov 19, 2003

Wednesday

 Nov 12, 2003

3. Maturity Distribution of Loans and Securities, November 19, 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 45 50,010 + 15,415 0 0 18,000 17,902

16 days to 90 days 2 142,633 - 16,688 10 0 4,000 0

91 days to 1 year 0 164,942 + 6,967 0 0 . . . . . . 

Over 1 year to 5 years . . . 177,811 - 1,492 0 0 . . . . . . 

Over 5 years to 10 years . . . 50,183 - 1,783 0 0 . . . . . . 

Over 10 years . . . 77,123 + 4 0 0 . . . . . . 

All 47 662,703 + 2,424 10 0 22,000 17,902

Assets, liabilities, and capital

Maturity
H.4.1

4. Statement of Condition of Each Federal Reserve Bank on November 19, 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 2,200 810 684,760 662,713 662,703 242,958 419,745 10 22,000 47 9,777 1,602 36,324 0 746,511

Assets, liabilities, and capital

 4,706 874 33 305,530 283,530 283,526 103,945 179,580 4 22,000 0 771 190 12,847 - 2,553 322,399

 495 115 25 32,039 32,039 32,039 11,746 20,293 0 0 0 455 92 1,678 + 187 35,087

 380 83 45 20,722 20,719 20,719 7,596 13,123 0 0 3 539 52 998 - 389 22,430

 477 104 37 31,053 31,053 31,053 11,384 19,668 0 0 0 1,152 150 2,321 - 3,664 31,630

 808 147 93 50,965 50,965 50,964 18,684 32,280 1 0 0 540 144 5,998 + 3,666 62,361

 863 166 98 44,770 44,770 44,770 16,413 28,356 1 0 0 814 278 2,078 + 1,907 50,974

 982 212 96 66,976 66,967 66,966 24,551 42,415 1 0 8 821 121 3,364 - 8,240 64,333

 331 71 55 20,851 20,850 20,849 7,644 13,206 0 0 2 419 43 925 - 1,861 20,835

 2   14,8 14,7 14,7 5,4 9,3    4 1 1,1 - 2 16,5
 793,540

 120,107 673,434 673,434 11,039 2,200 660,195 0 684,713 17,923 666,790

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.

 793,540 120,107 673,434 17,902 25,924 20,365 5,175 76 308 8,778 2,309 728,347 8,786 8,380 999 746,511

 37,373 5,548 31,825 865 809 800 0 2 8 533 129 34,162 448 436 41 35,087

 326,172 24,766 301,406 7,659 7,347 1,963 5,175 52 157 1,047 709 318,169 2,003 1,809 418 322,399

 28,541 8,625 19,915 560 803 802 0 1 0 520 96 21,893 259 233 44 22,430

 33,002 5,530 27,472 839 1,141 1,138 0 3 1 567 128 30,147 725 702 56 31,630

 59,403 10,124 49,279 1,377 6,681 6,538 0 7 135 562 253 58,151 2,067 2,073 69 62,361

 66,116 19,856 46,260 1,209 1,466 1,464 0 2 1 848 185 49,969 485 475 44 50,974

 66,695 9,640 57,055 1,809 2,601 2,598 0 3 0 739 236 62,440 919 858 116 64,333

 23,259 4,459 18,800 563 614 610 0 1 3 272 104 20,353 231 199 52 20,835

 15,6 1,4 14,2 4 6 6    5  15,8 3 3  16,5

H.4.1

4. Statement of Condition of Each Federal Reserve Bank on November 19, 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 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 19, 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.