FEDERAL RESERVE Statistical Release H.4.1 Factors Affecting Reserve Balances of Depository Institutions and Condition Statement of Federal Reserve Banks February 24, 2005 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 Feb 23, 2005 Feb 16, 2005 Feb 25, 2004 Feb 23, 2005 Federal Reserve Banks Reserve Bank Credit 780,772 - 2,931 + 48,717 783,514 Securities held outright 717,845 - 21 + 46,936 717,839 U.S. Treasury (1) 717,845 - 21 + 46,936 717,839 Bills (2) 263,005 0 + 16,918 263,005 Notes and bonds, nominal (2) 433,429 0 + 24,211 433,429 Notes and bonds, inflation-indexed (2) 19,108 0 + 5,114 19,108 Inflation compensation (3) 2,303 - 21 + 694 2,297 Federal agency (2) 0 0 0 0 Repurchase agreements(4) 23,964 + 35 + 964 25,250 Loans to depository institutions 21 - 2 - 31 24 Primary credit 5 - 4 - 32 6 Secondary credit 0 0 0 0 Seasonal credit 16 + 2 0 19 Float -308 - 720 + 233 913 Other Federal Reserve assets 39,250 - 2,223 + 615 39,488 Gold stock 11,042 0 - 1 11,042 Special drawing rights certificate account 2,200 0 0 2,200 Treasury currency outstanding (5) 36,532 + 14 + 903 36,532 Total factors supplying reserve funds 830,547 - 2,916 + 49,620 833,289 Currency in circulation(5) 753,257 + 2,087 + 39,048 753,834 Reverse repurchase agreements (6) 23,857 - 3,187 + 3,431 23,474 Foreign official and international accounts 23,857 - 3,187 + 3,431 23,474 Dealers 0 0 0 0 Treasury cash holdings 269 - 11 - 53 263 Deposits with F.R.Banks, other than reserve balances 14,300 - 773 - 1,964 13,515 U.S. Treasury, general account 5,250 + 326 + 103 4,487 Foreign official 81 - 1 - 4 81 Service-related 8,672 - 1,100 - 2,045 8,672 Required clearing balances 8,671 - 1,101 - 1,409 8,671 Adjustments to compensate for float 0 0 - 637 0 Other 296 0 - 19 275 Other liabilities and capital 27,435 + 485 + 7,210 27,300 Total factors, other than reserve balances, absorbing reserve funds 819,119 - 1,399 + 47,673 818,387 Reserve balances with Federal Reserve Banks 11,428 - 1,517 + 1,947 14,902 Memo (off-balance-sheet items): Marketable securities held in custody for foreign official and international accounts(2,7) 1,364,705 + 22,426 + 221,842 1,370,033 U.S. Treasury 1,077,357 + 20,310 + 167,917 1,080,307 Federal agency 287,347 + 2,115 + 53,924 289,726 Securities lent to dealers 2,966 - 475 + 2,287 3,508 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 Feb 23, 2005 Feb 16, 2005 Feb 25, 2004 Assets Gold certificate account 11,038 0 0 Special drawing rights certificate account 2,200 0 0 Coin 810 - 18 - 68 Securities, repurchase agreements, and loans 743,114 + 6,729 + 51,316 Securities held outright 717,839 - 20 + 46,312 U.S. Treasury (1) 717,839 - 20 + 46,312 Bills (2) 263,005 0 + 16,864 Notes and bonds, nominal (2) 433,429 0 + 23,645 Notes and bonds, inflation-indexed (2) 19,108 0 + 5,114 Inflation compensation (3) 2,297 - 19 + 689 Federal agency (2) 0 0 0 Repurchase agreements (4) 25,250 + 6,750 + 5,250 Loans 24 - 3 - 246 Items in process of collection (1,151) 9,655 + 1,652 + 2,659 Bank premises 1,784 + 1 + 134 Other assets (5) 37,671 + 622 + 676 Total assets (1,151) 806,272 + 8,986 + 54,717 Liabilities Federal Reserve notes net of FR Bank holdings 718,371 + 1,006 + 38,220 Reverse repurchase agreements (6) 23,474 + 128 + 4,602 Deposits (0) 28,345 + 5,886 + 2,911 Depository institutions 23,502 + 6,435 + 3,687 U.S. Treasury, general account 4,487 - 523 - 722 Foreign official 81 - 4 + 1 Other (0) 275 - 22 - 55 Deferred availability cash items (1,151) 8,781 + 1,632 + 1,611 Other liabilities and accrued dividends (7) 3,011 + 85 + 772 Total liabilities (1,151) 781,982 + 8,737 + 48,116 Capital Accounts Capital paid in 12,508 + 64 + 3,603 Surplus 11,114 + 85 + 2,414 Other capital accounts 668 + 100 + 584 Total capital 24,290 + 249 + 6,601 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, February 23, 2005 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 24 56,852 - 840 0 0 25,250 23,474 16 days to 90 days 0 163,184 + 1,695 0 0 0 0 91 days to 1 year 0 157,795 - 856 0 0 ------ ------ Over 1 to 5 years ------ 212,794 - 8 0 0 ------ ------ Over 5 to 10 years ------ 50,279 + 3,054 0 0 ------ ------ Over 10 years ------ 76,934 - 3,066 0 0 ------ ------ All 24 717,839 - 20 0 0 25,250 23,474 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 February 23, 2005 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 11,038 494 4,648 382 452 819 894 924 325 218 302 525 1,055 Special drawing rights certificate acct. 2,200 115 874 83 104 147 166 212 71 30 66 98 234 Coin 810 23 52 61 61 74 89 123 36 26 58 82 128 Securities, repurchase agreements, and loans 743,114 33,708 336,515 21,351 30,673 54,559 48,410 64,669 21,089 15,666 18,865 32,730 64,879 Securities held outright 717,839 33,708 311,265 21,350 30,673 54,559 48,409 64,662 21,089 15,657 18,864 32,730 64,873 U.S. Treasury (1) 717,839 33,708 311,265 21,350 30,673 54,559 48,409 64,662 21,089 15,657 18,864 32,730 64,873 Bills (2) 263,005 12,350 114,042 7,822 11,238 19,990 17,736 23,691 7,727 5,736 6,911 11,992 23,769 Notes and bonds(3) 454,834 21,358 197,222 13,528 19,435 34,569 30,673 40,971 13,363 9,921 11,952 20,738 41,105 Federal agency (2) 0 0 0 0 0 0 0 0 0 0 0 0 0 Repurchase agreements(4) 25,250 0 25,250 0 0 0 0 0 0 0 0 0 0 Loans 24 0 0 1 0 0 0 7 0 9 1 0 5 Items in process of collection 10,806 613 610 592 873 688 1,057 1,038 460 625 917 475 2,859 Bank premises 1,784 101 198 53 157 143 276 165 64 122 82 256 167 Other assets(5) 37,671 3,311 14,564 1,006 2,557 5,027 1,930 2,583 865 769 644 880 3,532 Interdistrict settlement account 0 + 3,192 -31,659 + 6,689 + 514 + 5,022 + 7,498 + 945 + 1,517 - 954 + 1,756 + 1,481 + 3,999 Total Assets 807,423 41,556 325,801 30,218 35,392 66,478 60,320 70,659 24,429 16,503 22,689 36,526 76,852 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 February 23, 2005 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 855,791 40,161 341,176 35,156 35,398 64,565 73,518 72,510 24,795 16,341 24,428 40,411 87,333 Less: notes held by F.R. Banks 137,420 4,738 43,578 7,967 5,257 12,198 18,743 8,955 2,817 2,010 4,305 6,684 20,169 Federal Reserve notes, net 718,371 35,423 297,598 27,189 30,142 52,368 54,775 63,555 21,977 14,331 20,123 33,726 67,165 Reverse repurchase agreements (1) 23,474 1,102 10,179 698 1,003 1,784 1,583 2,115 690 512 617 1,070 2,121 Deposits 28,345 1,371 8,982 756 1,380 6,529 1,637 2,364 724 386 875 812 2,528 Depository institutions 23,502 1,359 4,269 755 1,376 6,435 1,635 2,361 719 385 874 811 2,523 U.S. Treasury, general account 4,487 0 4,487 0 0 0 0 0 0 0 0 0 0 Foreign official 81 5 53 1 4 7 2 3 1 1 1 0 4 Other 275 7 174 0 1 86 0 0 4 0 1 1 0 Deferred availability cash items 9,932 861 803 857 695 727 1,104 719 224 658 657 478 2,148 Other liabilities and accrued dividends (2) 3,011 169 1,057 107 163 291 230 282 118 96 98 147 253 Total liabilities 783,134 38,927 318,619 29,606 33,383 61,699 59,329 69,035 23,733 15,983 22,369 36,234 74,216 Capital Capital paid in 12,508 1,639 3,488 298 1,098 2,538 428 786 401 253 155 136 1,288 Surplus 11,114 991 3,430 294 911 2,148 516 763 236 254 153 135 1,283 Other capital 668 0 265 20 0 93 46 74 59 12 12 21 65 Total liabilities and capital 807,423 41,556 325,801 30,218 35,392 66,478 60,320 70,659 24,429 16,503 22,689 36,526 76,852 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 Feb 23, 2005 Federal Reserve notes outstanding 855,791 Less: Notes held by F.R. Banks not subject to collateralization 137,420 Federal Reserve Notes to be collateralized 718,371 Collateral held against Federal Reserve notes 718,371 Gold certificate account 11,038 Special drawing rights certificate account 2,200 U.S. Treasury and agency securities pledged (1) 705,133 Other assets pledged 0 Memo: Total U.S. Treasury and agency securities (1) 743,089 Less:face value of securities under reverse repurchase agreements 23,489 U.S. Treasury and agency securities eligible to be pledged 719,600 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.