Reserve Bank credit, related items, and

reserve balances of depository institutions

at Federal Reserve Banks

Reserve Bank credit 770,529 + 1,756 + 49,424 765,776

Securities held outright 702,661 + 1,059 + 46,036 702,813

U.S. Treasury1 702,661 + 1,059 + 46,046 702,813

Bills2 259,068 + 204 + 17,071 259,078

Notes and bonds, nominal2 426,191 + 852 + 26,596 426,333

Notes and bonds, inflation-indexed2 15,262 0 + 1,808 15,262

Inflation compensation3 2,139 + 2 + 570 2,140

Federal agency2 0 0 - 10 0

Repurchase agreements4 26,964 - 107 + 2,393 21,250

Loans to depository institutions 173 - 20 + 73 179

Primary credit 5 0 - 9 24

Secondary credit 0 0 0 0

Seasonal credit 168 - 20 + 82 154

Float 389 + 526 + 737 956

Other Federal Reserve assets 40,342 + 298 + 186 40,578

Gold stock 11,043 0 0 11,043

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

Treasury currency outstanding5 36,309 + 14 + 1,012 36,309

Total factors supplying reserve funds 820,082 + 1,770 + 50,436 815,328

Currency in circulation5 741,404 - 1,167 + 38,771 741,973

Reverse repurchase agreements6 25,431 + 548 + 6,798 25,843

Foreign official and international accounts 25,431 + 548 + 6,798 25,843

Dealers 0 0 0 0

Treasury cash holdings 299 + 4 - 90 302

Deposits with F.R. Banks, other than reserve balances 16,130 + 341 - 1,085 15,651

U.S. Treasury, general account 5,232 + 550 - 171 4,785

Foreign official 99 + 12 + 2 76

Service-related 10,491 - 231 - 934 10,491

Required clearing balances 10,491 - 231 - 751 10,491

Adjustments to compensate for float 0 0 - 184 0

Other 308 + 10 + 19 299

Other liabilities and capital 23,880 + 230 + 3,644 23,765

Total factors, other than reserve balances,

absorbing reserve funds 807,145 - 44 + 48,040 807,534

Reserve balances with Federal Reserve Banks 12,936 + 1,813 + 2,396 7,794

Memo (off-balance-sheet items):

Marketable securities held in custody for foreign

 official and international accounts2,7 1,294,242 + 6,052 + 298,846 1,293,987

U.S. Treasury 1,047,623 + 3,352 + 248,587 1,050,357

Federal agency 246,618 + 2,699 + 50,258 243,630

Securities lent to dealers 373 - 460 - 1,542 1,836

FEDERAL RESERVE statistical release

 October 21, 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

 Oct 20, 2004 Week ended

 Oct 20, 2004 Oct 13, 2004 Oct 22, 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 11,039 0 0

Special drawing rights certificate account 2,200 0 0

Coin 758 + 10 - 52

Securities, repurchase agreements, and loans 724,242 - 7,811 + 41,884

Securities held outright 702,813 + 1,196 + 46,049

U.S. Treasury1 702,813 + 1,196 + 46,059

Bills2 259,078 + 200 + 16,947

Notes and bonds, nominal2 426,333 + 994 + 26,738

Notes and bonds, inflation-indexed2 15,262 0 + 1,808

Inflation compensation3 2,140 + 2 + 566

Federal agency2 0 0 - 10

Repurchase agreements4 21,250 - 9,000 - 4,250

Loans 179 - 7 + 85

Items in process of collection (1,139) 7,412 - 3,188 - 193

Bank premises 1,735 + 3 + 138

Other assets5 38,894 + 455 + 42

Total assets (1,139) 786,279 - 10,532 + 41,817

Liabilities

Federal Reserve notes, net of F.R. Bank holdings 706,719 - 1,427 + 37,512

Reverse repurchase agreements6 25,843 + 858 + 7,732

Deposits ( 0 ) 23,503 - 7,789 - 5,800

Depository institutions 18,343 - 7,104 - 5,459

U.S. Treasury, general account 4,785 - 681 - 338

Foreign official 76 - 10 - 23

Other ( 0 ) 299 + 7 + 20

Deferred availability cash items (1,139) 6,449 - 2,460 - 1,064

Other liabilities and accrued dividends7 2,797 - 108 + 534

Total liabilities (1,139) 765,311 - 10,926 + 38,913

Capital accounts

Capital paid in 10,523 + 12 + 1,789

Surplus 8,847 0 + 467

Other capital accounts 1,598 + 381 + 648

Total capital 20,968 + 394 + 2,905

H.4.1

2. Consolidated Statement of Condition of All Federal Reserve Banks

Millions of dollars

Change since

Wednesday

 Oct 22, 2003

Eliminations from

consolidation Wednesday

 Oct 20, 2004

Wednesday

 Oct 13, 2004

3. Maturity Distribution of Loans and Securities, October 20, 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 176 50,635 + 5,983 0 0 21,250 25,843

16 days to 90 days 2 155,425 - 5,709 0 0 0 0

91 days to 1 year 0 167,785 + 729 0 0 . . . . . . 

Over 1 year to 5 years . . . 202,112 + 171 0 0 . . . . . . 

Over 5 years to 10 years . . . 50,539 + 21 0 0 . . . . . . 

Over 10 years . . . 76,317 + 1 0 0 . . . . . . 

All 179 702,813 + 1,196 0 0 21,250 25,843

Assets, liabilities, and capital

Maturity
H.4.1

4. Statement of Condition of Each Federal Reserve Bank on October 20, 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.

 11,039 2,200 758 724,242 702,813 702,813 259,078 443,736 0 21,250 179 8,551 1,735 38,894 0 787,418

Assets, liabilities, and capital

 4,649 874 44 325,999 304,749 304,749 112,340 192,410 0 21,250 0 784 191 14,009 -30,531 316,020

 494 115 16 33,006 33,002 33,002 12,166 20,837 0 0 4 428 98 1,769 + 2,867 38,794

 382 83 47 20,912 20,903 20,903 7,706 13,198 0 0 8 452 52 1,085 + 4,018 27,030

 452 104 44 30,031 30,031 30,031 11,070 18,961 0 0 0 791 154 2,398 - 46 33,929

 819 147 71 53,417 53,417 53,417 19,691 33,726 0 0 0 410 144 6,090 + 1,601 62,699

 894 166 86 47,410 47,396 47,396 17,472 29,924 0 0 14 558 278 2,225 + 9,595 61,211

 924 212 101 63,348 63,308 63,308 23,337 39,971 0 0 40 650 145 3,518 - 702 68,196

 325 71 48 20,659 20,648 20,648 7,611 13,037 0 0 12 756 60 1,024 + 1,208 24,152

 2   15,3 15,3 15,3 5,6 9,6    5 1 1,1 - 6 16,7
 832,939

 126,220 706,719 706,719 11,039 2,200 693,480 0 724,063 25,856 698,207

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.

 832,939 126,220 706,719 25,843 23,503 18,343 4,785 76 299 7,588 2,797 766,450 10,523 8,847 1,598 787,418

 37,831 4,269 33,562 1,214 1,021 1,016 0 2 3 532 170 36,498 1,634 448 213 38,794

 321,316 32,843 288,473 11,206 10,057 5,049 4,785 53 170 753 909 311,398 2,164 2,031 426 316,020

 33,235 8,908 24,327 769 675 674 0 1 0 548 107 26,426 292 259 53 27,030

 34,812 5,624 29,189 1,104 1,121 1,117 0 2 1 796 141 32,351 762 727 88 33,929

 65,028 12,080 52,948 1,964 2,731 2,607 0 7 118 441 293 58,378 2,095 2,074 152 62,699

 73,342 17,446 55,896 1,743 1,441 1,437 0 2 2 822 233 60,135 518 489 70 61,211

 70,001 8,786 61,215 2,328 1,794 1,790 0 3 1 461 261 66,059 1,027 924 186 68,196

 25,312 3,306 22,006 759 589 586 0 1 2 177 116 23,647 240 228 37 24,152

 16,0 1,5 14,5 5 4 4    5  16,1 2 3  16,7

H.4.1

4. Statement of Condition of Each Federal Reserve Bank on October 20, 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

 Oct 20, 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.