---

`FEDERAL RESERVE Statistical Release

H.4.1
Factors Affecting Reserve Balances of Depository Institutions and
Condition Statement of Federal Reserve Banks
                                                                                             April 15, 2004
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           Apr 14, 2004  Apr 7, 2004 Apr 16, 2003 Apr 14, 2004
Federal Reserve Banks

Reserve Bank Credit                                         740,217    +   6,663    +  28,929      743,982
 Securities held outright                                   674,520    +     319    +  28,851      674,717       
    U.S. Treasury (1)                                       674,520    +     319    +  28,861      674,717
       Bills (2)                                            246,942    +     298    +  11,229      247,132
       Notes and bonds, nominal (2)                         411,388            0    +  15,628      411,388
       Notes and bonds, inflation-indexed (2)                14,464            0    +   1,650       14,464
       Inflation compensation (3)                             1,725    +      20    +     354        1,733
    Federal agency (2)                                            0            0    -      10            0      
 Repurchase agreements(4)                                    25,729    +   6,158    -   1,092       29,700
 Loans to depository institutions                                85    +      12    +      49           86
    Primary credit                                               33    -       3    +      17           30
    Secondary credit                                              0            0            0            0
    Seasonal credit                                              52    +      15    +      32           56
 Float                                                         -463    +      34    -     178         -776
 Other Federal Reserve assets                                40,347    +     142    +   1,301       40,255
Gold stock                                                   11,045            0    +       2       11,045
Special drawing rights certificate account                    2,200            0            0        2,200
Treasury currency outstanding (5)                            35,685    +      14    +     841       35,685
       
Total factors supplying reserve funds                       789,147    +   6,676    +  29,772      792,913
                                                                   
Currency in circulation(5)                                  717,499    +   1,356    +  29,865      718,780
Reverse repurchase agreements (6)                            20,136    +     737    -     609       19,470
   Foreign official and international accounts               20,136    +     737    -     609       19,470
   Dealers                                                        0            0            0            0
Treasury cash holdings                                          345    -      18    -      12          340
Deposits with F.R.Banks, other than reserve balances         16,146    +     127    -   1,665       15,905       
  U.S. Treasury, general account                              5,158    +     148    -   1,312        4,902
  Foreign official                                               83    -      10    -      37           85
  Service-related                                            10,568            0    -     412       10,568
     Required clearing balances                              10,567    +       5    -     253       10,567
     Adjustments to compensate for float                          2    -       3    -     158            2
  Other                                                         338    -      10    +      97          350
Other liabilities and capital                                20,556    -     275    +     615       20,316

Total factors, other than reserve balances,                                        
   absorbing reserve funds                                  774,683    +   1,928    +  28,193      774,810

Reserve balances with Federal Reserve Banks                  14,464    +   4,749    +   1,579       18,103
                                                                

Memo (off-balance-sheet items):
  Marketable securities held in custody for foreign
         official and international accounts(2,7)         1,180,378    +   4,324    + 282,180    1,182,058
     U.S. Treasury                                          949,575    +   7,935    + 229,519      951,963
     Federal agency                                         230,803    -   3,612    +  52,660      230,096
  Securities lent to dealers                                    959    -     985    +     509        2,236   


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.


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 Apr 14, 2004      Apr 7, 2004     Apr 16, 2003

Assets
Gold certificate account                                        11,041                0        +       3
Special drawing rights certificate account                       2,200                0                0
Coin                                                               834        -      10        -     222
Securities, repurchase agreements, and loans                   704,503        +  10,380        +  19,662
   Securities held outright                                    674,717        +     423        +  27,922
      U.S. Treasury (1)                                        674,717        +     423        +  27,932       
         Bills (2)                                             247,132        +     403        +  11,318
         Notes and bonds, nominal (2)                          411,388                0        +  14,612
         Notes and bonds, inflation-indexed (2)                 14,464                0        +   1,650
         Inflation compensation (3)                              1,733        +      20        +     353
      Federal agency (2)                                             0                0        -      10
   Repurchase agreements (4)                                    29,700        +   9,950        -   8,300    
   Loans                                                            86        +       7        +      40
Items in process of collection                    (1,080)        5,721        -     639        -   2,563
Bank premises                                                    1,662        +       4        +     103
Other assets (5)                                                38,644        -      90        +     842
      Total assets                                (1,080)      764,605        +   9,645        +  17,824
                          
Liabilities
Federal Reserve notes net of FR Bank holdings                  684,264        +     486        +  28,752
Reverse repurchase agreements (6)                               19,470        +     398        -     331
Deposits                                              (0)       34,058        +   9,176        -   8,737       
  Depository institutions                                       28,722        +   8,836        -   4,915
  U.S. Treasury, general account                                 4,902        +     341        -   3,919
  Foreign official                                                  85        -      11        -      16
  Other                                               (0)          350        +      12        +     114
Deferred availability cash items                  (1,080)        6,497        -     203        -   2,306
Other liabilities and accrued dividends (7)                      2,269        +      36        +      30
      Total liabilities                           (1,080)      746,559        +   9,894        +  17,410
                          
Capital Accounts
Capital paid in                                                  8,983        +       1        +     461
Surplus                                                          8,767        -      80        +     387
Other capital accounts                                             296        -     170        -     433
      Total capital                                             18,046        -     249        +     414


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,     April 14, 2004
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              41       46,285   +   1,451            0           0       29,700       19,470
16 days to 90 days          46      155,706   -     489            0           0            0            0
91 days to 1 year            0      161,460   -     560            0           0     ------      ------
Over 1 to 5 years     ------        183,807   +       8            0           0     ------      ------
Over 5 to 10 years    ------         50,012   +       5            0           0     ------      ------
Over 10 years         ------         77,447   +       7            0           0     ------      ------
                   		 	
All                         86      674,717   +     423            0           0       29,700      19,470

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     April 14, 2004
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                      11,041        494      4,651        382        452        819        894        924        325        218        302        525      1,055
Special drawing rights certificate acct.       2,200        115        874         83        104        147        166        212         71         30         66         98        234
Coin                                             834         39         36         48         38         85         81        115         64         30         46        149        104
Securities, repurchase agreements,
      and loans                              704,503     31,690    322,266     20,068     28,831     51,281     45,501     60,795     19,835     14,732     17,735     30,764     61,006
   Securities held outright                  674,717     31,683    292,566     20,068     28,831     51,281     45,501     60,777     19,823     14,716     17,730     30,764     60,976
      U.S. Treasury (1)                      674,717     31,683    292,566     20,068     28,831     51,281     45,501     60,777     19,823     14,716     17,730     30,764     60,976
         Bills (2)                           247,132     11,605    107,160      7,350     10,560     18,783     16,666     22,261      7,260      5,390      6,494     11,268     22,334
         Notes and bonds(3)                  427,585     20,078    185,406     12,717     18,271     32,498     28,835     38,516     12,562      9,326     11,236     19,496     38,642
         Federal agency (2)                        0          0          0          0          0          0          0          0          0          0          0          0          0
      Repurchase agreements(4)                29,700          0     29,700          0          0          0          0          0          0          0          0          0          0
      Loans                                       86          7          0          0          0          0          0         17         13         15          5          0         30
Items in process of collection                 6,801        393        322        423        398        637        661        425        286        365        501        338      2,051
Bank premises                                  1,662         95        191         52        152        144        279        128         49        124         74        193        180
Other assets(5)                               38,644      1,751     13,988      1,164      2,343      5,962      2,221      3,477      1,010      1,131        806      1,009      3,783
Interdistrict settlement account                   0    + 3,524    -19,556    + 1,506    -   263    +   178    + 1,346    - 1,462    +   493    -   354    +   839    + 3,908    + 9,842
          Total Assets                       765,685     38,100    322,772     23,726     32,055     59,253     51,149     64,615     22,133     16,276     20,368     36,983     78,255

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     April 14, 2004
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             806,002     38,862    323,294     29,468     32,362     59,906     64,004     66,645     23,484     15,760     22,278     41,535     88,402
  Less: notes held by F.R. Banks              121,738      4,948     31,404      8,432      5,190     10,945     18,084      8,297      3,531      1,468      4,098      7,049     18,291
    Federal Reserve notes, net                684,264     33,915    291,891     21,036     27,172     48,961     45,920     58,348     19,953     14,292     18,180     34,486     70,111
Reverse repurchase agreements (1)              19,470        914      8,443        579        832      1,480      1,313      1,754        572        425        512        888      1,760
Deposits                                       34,058      1,624     16,864        948      1,943      3,959      1,925      1,934        789        406        828        821      2,016
  Depository institutions                      28,722      1,614     11,727        947      1,938      3,792      1,924      1,931        786        405        826        820      2,012
  U.S. Treasury, general account                4,902          0      4,902          0          0          0          0          0          0          0          0          0          0
  Foreign official                                 85          2         62          1          2          7          2          3          1          1          1          0          4
  Other                                           350          9        174          0          2        160          0          0          3          0          1          0          0
Deferred availability cash items                7,577        602        589        521        532        539        832        536        256        466        449        416      1,839
Other liabilities and accrued                 
  dividends (2)                                 2,269        129        709         93        120        238        186        216        103         82         85        118        189
   
    Total liabilities                         747,639     37,184    318,496     23,178     30,599     55,177     50,177     62,788     21,673     15,671     20,053     36,729     75,914
                              
Capital                    
Capital paid in                                 8,983        462      2,105        275        739      2,058        485        909        232        265        151        120      1,183
Surplus                                         8,767        448      2,031        259        717      2,019        487        918        228        339        162        111      1,048
Other capital                                     296          6        140         14          0          0          0          0          1          0          2         23        110
     Total liabilities and capital            765,685     38,100    322,772     23,726     32,055     59,253     51,149     64,615     22,133     16,276     20,368     36,983     78,255
                              

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
                                          Apr 14, 2004
              
Federal Reserve notes outstanding             806,002
   Less: Notes held by F.R. Banks
         not subject to collateralization     121,738
      Federal Reserve Notes to be
         collateralized                       684,264 
Collateral held against Federal Reserve            
   notes                                      684,264
   Gold certificate account                    11,041
   Special drawing rights                 
     certificate account                        2,200
   U.S. Treasury and agency securities   
     pledged (1)                              671,023
   Other assets pledged                             0

Memo:
Total U.S. Treasury and agency 
       securities (1)                         704,417
   Less:face value of securities under
         reverse repurchase agreements         19,475
      U.S. Treasury and agency securities
             eligible to be pledged           684,942
   

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.`

Statistical releases

---

Home Economic research and data  Accessibility Contact Us  Last update: April 15, 2004