---

`FEDERAL RESERVE Statistical Release

H.4.1
Factors Affecting Reserve Balances of Depository Institutions and
Condition Statement of Federal Reserve Banks
                                                                                         September 18, 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           Sep 17, 2003 Sep 10, 2003 Sep 18, 2002 Sep 17, 2003
Federal Reserve Banks

Reserve Bank Credit                                         721,688    +   6,374    +  63,778      722,582
 Securities held outright                                   655,767    +   1,242    +  50,643      655,953       
    U.S. Treasury (1)                                       655,757    +   1,242    +  50,643      655,943
       Bills (2)                                            241,183    +     214    +  37,088      241,367
       Notes and bonds, nominal (2)                         399,595    +     636    +  11,984      399,595
       Notes and bonds, inflation-indexed (2)                13,454    +     365    +   1,212       13,454
       Inflation compensation (3)                             1,525    +      26    +     360        1,526
    Federal agency (2)                                           10            0            0           10      
 Repurchase agreements(4)                                    27,893    +   5,072    +  12,393       29,250
 Loans to depository institutions                               162    +       4    -       6          165
    Primary credit                                                4    +       1    +       4            2
    Secondary credit                                              0            0            0            0
    Seasonal credit                                             158    +       3    -       4          162
    Adjustment credit                                             0            0    -       7            0
 Float                                                         -220    -     541    +     542       -1,035
 Other Federal Reserve assets                                38,087    +     598    +     207       38,249
Gold stock                                                   11,043            0    +       1       11,043
Special drawing rights certificate account                    2,200            0            0        2,200
Treasury currency outstanding (5)                            35,219    +      14    +     938       35,219
       
Total factors supplying reserve funds                       770,150    +   6,388    +  64,717      771,044
                                                                   
Currency in circulation(5)                                  696,189    -   2,267    +  35,036      696,969
Reverse repurchase agreements (6)                            20,445    +   1,100    +  20,445       18,972
   Foreign official and international accounts               20,445    +   1,100    +  20,445       18,972
   Dealers                                                        0            0            0            0
Treasury cash holdings                                          333    -       4    -      31          333
Deposits with F.R.Banks, other than reserve balances         18,064    +   1,387    +   1,850       19,270       
  U.S. Treasury, general account                              6,084    +   1,339    +     311        7,247
  Foreign official                                              229    -      32    +     123          270
  Service-related                                            11,481    +      89    +   1,364       11,481
     Required clearing balances                              11,219    -       1    +   1,278       11,219
     Adjustments to compensate for float                        262    +      89    +      86          262
  Other                                                         269    -      10    +      51          272
Other liabilities and capital                                20,588    +     137    +   1,414       20,225

Total factors, other than reserve balances,                                        
   absorbing reserve funds                                  755,618    +     352    +  58,714      755,768

Reserve balances with Federal Reserve Banks                  14,532    +   6,036    +   6,003       15,276
                                                                

Memo (off-balance-sheet items):
  Marketable securities held in custody for foreign
         official and international accounts(2,7)           964,468    +   3,181     ------        959,339
     U.S. Treasury                                          774,817    +   1,361     ------        772,230
     Federal agency                                         189,651    +   1,820     ------        187,110
  Securities lent to dealers                                  1,557    -     310    +   1,162          586   


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 Sep 17, 2003     Sep 10, 2003     Sep 18, 2002

Assets
Gold certificate account                                        11,039                0        +       1
Special drawing rights certificate account                       2,200                0                0
Coin                                                               848        -       2        -     204
Securities, repurchase agreements, and loans                   685,367        +   7,111        +  62,167
   Securities held outright                                    655,953        +     351        +  49,671
      U.S. Treasury (1)                                        655,943        +     351        +  49,671       
         Bills (2)                                             241,367        +     347        +  37,070
         Notes and bonds, nominal (2)                          399,595                0        +  11,029
         Notes and bonds, inflation-indexed (2)                 13,454                0        +   1,212
         Inflation compensation (3)                              1,526        +       3        +     359
      Federal agency (2)                                            10                0                0
   Repurchase agreements (4)                                    29,250        +   6,750        +  12,500    
   Loans                                                           165        +      10        -       3
Items in process of collection                    (1,271)        7,157        -     856        -     194
Bank premises                                                    1,591        +       1        +      68
Other assets (5)                                                36,633        +     447        -      43
      Total assets                                (1,271)      744,835        +   6,701        +  61,795
                          
Liabilities
Federal Reserve notes net of FR Bank holdings                  662,927        -   1,131        +  34,182
Reverse repurchase agreements (6)                               18,972        -     747        +  18,972
Deposits                                              (0)       34,823        +   8,662        +   7,245       
  Depository institutions                                       27,034        +   6,279        +   6,985
  U.S. Treasury, general account                                 7,247        +   2,208        +      72
  Foreign official                                                 270        +     190        +     131
  Other                                               (0)          272        -      15        +      57
Deferred availability cash items                  (1,271)        7,889        +      40        +     433
Other liabilities and accrued dividends (7)                      2,204        -      11        -     188
      Total liabilities                           (1,271)      726,815        +   6,812        +  60,643
                          
Capital Accounts
Capital paid in                                                  8,755                0        +     503
Surplus                                                          8,380                0        +   1,068
Other capital accounts                                             885        -     111        -     419
      Total capital                                             18,021        -     110        +   1,153


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 collatealized 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, September 17, 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             163       52,664   +   6,753            0           0       24,250       18,972
16 days to 90 days           2      135,948   -   5,526           10   +      10        5,000            0
91 days to 1 year            0      160,569   -     880            0   -      10     ------      ------
Over 1 to 5 years     ------        178,019   +       1            0           0     ------      ------
Over 5 to 10 years    ------         51,656   +       1            0           0     ------      ------
Over 10 years         ------         77,086   +       1            0           0     ------      ------
                   		 	
All                        165      655,943   +     351           10           0       29,250      18,972

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 September 17, 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                                             848         27         33         43         36        103        110        105         58         28         52        157         96
Securities, repurchase agreements,
      and loans                              685,367     31,712    309,888     20,511     30,736     50,445     44,324     66,326     20,664     14,698     17,648     25,708     52,707
   Securities held outright                  655,953     31,712    280,638     20,508     30,736     50,445     44,314     66,284     20,637     14,642     17,628     25,707     52,702
      U.S. Treasury (1)                      655,943     31,712    280,633     20,507     30,736     50,444     44,313     66,283     20,637     14,642     17,628     25,706     52,701
         Bills (2)                           241,367     11,669    103,265      7,546     11,310     18,562     16,306     24,390      7,594      5,388      6,487      9,459     19,392
         Notes and bonds(3)                  414,576     20,043    177,369     12,961     19,426     31,882     28,007     41,893     13,043      9,254     11,141     16,247     33,309
         Federal agency (2)                       10          0          4          0          0          1          1          1          0          0          0          0          1
      Repurchase agreements(4)                29,250          0     29,250          0          0          0          0          0          0          0          0          0          0
      Loans                                      165          0          0          3          0          0         10         42         27         56         20          2          5
Items in process of collection                 8,428        576        603        387        446        579        666        727        494        425        574        402      2,548
Bank premises                                  1,591         91        187         52        152        143        278        120         43        126         54        170        176
Other assets(5)                               36,633      1,686     13,186      1,079      2,280      5,825      2,113      3,394        936      1,092        873      1,038      3,130
Interdistrict settlement account                   0    -   691    + 1,314    -   487    - 2,123    -   753    + 1,418    - 7,385    - 1,414    +   168    -   473    + 2,513    + 7,911
          Total Assets                       746,106     34,012    330,791     22,049     32,108     57,296     49,937     64,481     21,184     16,791     19,098     30,593     67,765

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 September 17, 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             785,485     32,239    330,263     27,919     32,540     58,492     65,003     66,869     23,708     15,862     21,693     35,616     75,281
  Less: notes held by F.R. Banks              122,559      5,361     26,462      8,743      5,654      9,970     20,526      9,783      4,888      1,791      5,022      7,772     16,586
    Federal Reserve notes, net                662,927     26,878    303,801     19,176     26,886     48,522     44,477     57,085     18,820     14,071     16,671     27,844     58,695
Reverse repurchase agreements (1)              18,972        917      8,117        593        889      1,459      1,282      1,917        597        423        510        743      1,524
Deposits                                       34,823      4,646     12,945      1,149      2,266      2,267      2,077      2,676        823        998        955        991      3,030
  Depository institutions                      27,034      4,637      5,292      1,148      2,262      2,160      2,075      2,673        821        997        953        989      3,026
  U.S. Treasury, general account                7,247          0      7,247          0          0          0          0          0          0          0          0          0          0
  Foreign official                                270          2        247          1          3          7          2          3          1          1          1          1          3
  Other                                           272          8        159          0          1        100          0          1          1          0          1          0          0
Deferred availability cash items                9,160        529      1,061        517        516        609        932        696        368        503        464        518      2,446
Other liabilities and accrued                 
  dividends (2)                                 2,204        127        678         90        118        234        181        223         99         87         89        111        168
   
    Total liabilities                         728,085     33,096    326,602     21,526     30,675     53,091     48,948     62,598     20,706     16,083     18,690     30,208     65,863
                              
Capital                    
Capital paid in                                 8,755        446      1,997        254        705      2,073        478        917        228        348        196        183        931
Surplus                                         8,380        436      1,809        233        702      2,073        475        858        199        340        201        186        868
Other capital                                     885         33        383         37         26         59         35        108         51         20         12         16        103
     Total liabilities and capital            746,106     34,012    330,791     22,049     32,108     57,296     49,937     64,481     21,184     16,791     19,098     30,593     67,765
                              

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
                                          Sep 17, 2003
              
Federal Reserve notes outstanding             785,485
   Less: Notes held by F.R. Banks
         not subject to collateralization     117,643
      Federal Reserve Notes to be
         collateralized                       667,842 
Collateral held against Federal Reserve            
   notes                                      667,842
   Gold certificate account                    11,039
   Special drawing rights                 
     certificate account                        2,200
   U.S. Treasury and agency securities   
     pledged (1)                              654,603
   Other eligible assets                            0

Memo:
Total U.S. Treasury and agency 
       securities (1)                         685,203
   Less:face value of securities under
         reverse repurchase agreements         18,976
      U.S. Treasury and agency securities
             eligible to be pledged           666,226
   

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: September 18, 2003