FEDERAL RESERVE Statistical Release H.4.1 Factors Affecting Reserve Balances of Depository Institutions and Condition Statement of Federal Reserve Banks May 26, 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 May 25, 2005 May 18, 2005 May 26, 2004 May 25, 2005 Federal Reserve Banks Reserve Bank Credit 786,594 - 965 + 42,926 791,892 Securities held outright 722,188 + 577 + 42,161 722,992 U.S. Treasury (1) 722,188 + 577 + 42,161 722,992 Bills (2) 264,353 + 69 + 13,953 264,515 Notes and bonds, nominal (2) 436,154 + 471 + 22,850 436,781 Notes and bonds, inflation-indexed (2) 19,108 0 + 4,644 19,108 Inflation compensation (3) 2,573 + 38 + 714 2,587 Federal agency (2) 0 0 0 0 Repurchase agreements(4) 26,357 - 214 + 250 31,000 Loans to depository institutions 150 + 8 + 32 149 Primary credit 8 + 6 + 4 3 Secondary credit 0 0 0 0 Seasonal credit 142 + 3 + 28 146 Float -787 + 472 - 565 -1,124 Other Federal Reserve assets 38,685 - 1,808 + 1,048 38,876 Gold stock 11,041 0 - 4 11,041 Special drawing rights certificate account 2,200 0 0 2,200 Treasury currency outstanding (5) 36,643 + 14 + 740 36,643 Total factors supplying reserve funds 836,479 - 951 + 43,663 841,777 Currency in circulation(5) 754,364 - 8 + 33,502 757,483 Reverse repurchase agreements (6) 25,780 - 2,274 + 6,589 25,186 Foreign official and international accounts 25,780 - 2,274 + 6,589 25,186 Dealers 0 0 0 0 Treasury cash holdings 262 + 7 - 68 275 Deposits with F.R.Banks, other than reserve balances 13,644 - 317 - 1,692 14,216 U.S. Treasury, general account 4,936 - 273 - 276 5,518 Foreign official 82 - 2 - 1 79 Service-related 8,341 0 - 1,446 8,341 Required clearing balances 8,341 0 - 1,446 8,341 Adjustments to compensate for float 0 0 0 0 Other 286 - 41 + 32 278 Other liabilities and capital 28,978 + 158 + 7,694 29,039 Total factors, other than reserve balances, absorbing reserve funds 823,027 - 2,435 + 46,023 826,200 Reserve balances with Federal Reserve Banks 13,451 + 1,483 - 2,361 15,577 Memo (off-balance-sheet items): Marketable securities held in custody for foreign official and international accounts(2,7) 1,410,843 + 6,759 + 200,226 1,423,013 U.S. Treasury 1,080,319 + 6,112 + 101,859 1,084,986 Federal agency 330,524 + 647 + 98,367 338,027 Securities lent to dealers 3,424 + 121 + 20 5,675 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 May 25, 2005 May 18, 2005 May 26, 2004 Assets Gold certificate account 11,037 0 - 4 Special drawing rights certificate account 2,200 0 0 Coin 633 - 23 - 108 Securities, repurchase agreements, and loans 754,141 + 8,621 + 39,630 Securities held outright 722,992 + 1,363 + 42,359 U.S. Treasury (1) 722,992 + 1,363 + 42,359 Bills (2) 264,515 + 227 + 14,076 Notes and bonds, nominal (2) 436,781 + 1,098 + 22,918 Notes and bonds, inflation-indexed (2) 19,108 0 + 4,644 Inflation compensation (3) 2,587 + 38 + 720 Federal agency (2) 0 0 0 Repurchase agreements (4) 31,000 + 7,250 - 2,750 Loans 149 + 8 + 21 Items in process of collection (761) 5,210 - 284 - 502 Bank premises 1,818 + 3 + 140 Other assets (5) 37,021 + 315 + 870 Total assets (761) 812,060 + 8,632 + 40,027 Liabilities Federal Reserve notes net of FR Bank holdings 721,744 + 2,470 + 32,700 Reverse repurchase agreements (6) 25,186 - 993 + 5,855 Deposits (0) 29,757 + 6,900 - 6,716 Depository institutions 23,881 + 6,490 - 7,401 U.S. Treasury, general account 5,518 + 438 + 674 Foreign official 79 - 33 - 6 Other (0) 278 + 5 + 15 Deferred availability cash items (761) 6,334 - 3 + 342 Other liabilities and accrued dividends (7) 3,424 + 74 + 1,035 Total liabilities (761) 786,445 + 8,448 + 33,215 Capital Accounts Capital paid in 12,859 - 50 + 3,764 Surplus 11,417 + 24 + 2,570 Other capital accounts 1,340 + 212 + 478 Total capital 25,615 + 184 + 6,811 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, May 25, 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 139 62,611 + 909 0 0 31,000 25,186 16 days to 90 days 10 153,140 - 28 0 0 0 0 91 days to 1 year 0 160,928 - 655 0 0 ------ ------ Over 1 to 5 years ------ 215,344 + 1,064 0 0 ------ ------ Over 5 to 10 years ------ 53,677 + 56 0 0 ------ ------ Over 10 years ------ 77,291 + 16 0 0 ------ ------ All 149 722,992 + 1,363 0 0 31,000 25,186 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 May 25, 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 11,037 510 4,355 432 453 836 945 928 327 212 318 549 1,172 Special drawing rights certificate acct. 2,200 115 874 83 104 147 166 212 71 30 66 98 234 Coin 633 23 35 49 50 46 79 115 34 21 44 48 89 Securities, repurchase agreements, and loans 754,141 36,990 317,691 25,648 30,543 55,176 55,938 65,182 22,450 15,134 20,462 35,611 73,314 Securities held outright 722,992 36,990 286,691 25,648 30,543 55,176 55,934 65,109 22,435 15,100 20,449 35,608 73,307 U.S. Treasury (1) 722,992 36,990 286,691 25,648 30,543 55,176 55,934 65,109 22,435 15,100 20,449 35,608 73,307 Bills (2) 264,515 13,533 104,889 9,384 11,174 20,187 20,464 23,821 8,208 5,525 7,482 13,028 26,820 Notes and bonds(3) 458,477 23,457 181,802 16,264 19,368 34,989 35,470 41,288 14,227 9,576 12,968 22,581 46,487 Federal agency (2) 0 0 0 0 0 0 0 0 0 0 0 0 0 Repurchase agreements(4) 31,000 0 31,000 0 0 0 0 0 0 0 0 0 0 Loans 149 0 0 0 0 0 4 73 15 34 13 3 7 Items in process of collection 5,971 296 341 345 611 435 550 310 179 228 579 464 1,632 Bank premises 1,818 104 200 54 159 143 274 181 62 121 85 269 166 Other assets(5) 37,021 3,276 13,907 1,074 2,477 4,898 2,029 2,541 885 747 662 921 3,604 Interdistrict settlement account 0 - 52 - 8,671 + 4,509 + 1,419 + 3,579 + 4,006 + 1,984 - 265 - 197 - 478 - 3,608 - 2,227 Total Assets 812,821 41,262 328,731 32,194 35,816 65,261 63,988 71,453 23,743 16,297 21,739 34,353 77,985 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 May 25, 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 861,375 39,552 337,960 36,348 35,146 66,584 79,358 74,741 24,412 16,343 23,987 39,943 87,001 Less: notes held by F.R. Banks 139,631 4,192 41,410 7,003 5,328 12,240 22,768 9,783 2,941 2,081 4,598 8,360 18,927 Federal Reserve notes, net 721,744 35,360 296,550 29,345 29,818 54,344 56,590 64,958 21,471 14,262 19,388 31,584 68,074 Reverse repurchase agreements (1) 25,186 1,289 9,987 893 1,064 1,922 1,949 2,268 782 526 712 1,240 2,554 Deposits 29,757 1,206 12,864 715 1,897 3,027 2,933 1,775 551 442 730 666 2,950 Depository institutions 23,881 1,194 7,122 714 1,892 2,929 2,931 1,772 548 441 728 665 2,946 U.S. Treasury, general account 5,518 0 5,518 0 0 0 0 0 0 0 0 0 0 Foreign official 79 5 51 1 4 7 2 3 1 1 1 0 4 Other 278 8 173 0 1 91 0 0 3 0 1 0 0 Deferred availability cash items 7,095 500 790 486 670 556 876 434 151 451 478 377 1,325 Other liabilities and accrued dividends (2) 3,424 212 1,135 129 184 358 273 308 132 101 107 173 312 Total liabilities 787,206 38,566 321,326 31,569 33,633 60,207 62,621 69,743 23,087 15,783 21,416 34,040 75,215 Capital Capital paid in 12,859 1,550 3,608 306 1,124 2,552 661 831 330 253 156 148 1,340 Surplus 11,417 1,146 3,430 294 1,059 2,148 516 763 236 254 153 135 1,283 Other capital 1,340 0 368 25 0 353 189 116 91 6 14 30 147 Total liabilities and capital 812,821 41,262 328,731 32,194 35,816 65,261 63,988 71,453 23,743 16,297 21,739 34,353 77,985 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 May 25, 2005 Federal Reserve notes outstanding 861,375 Less: Notes held by F.R. Banks not subject to collateralization 139,631 Federal Reserve Notes to be collateralized 721,744 Collateral held against Federal Reserve notes 721,744 Gold certificate account 11,037 Special drawing rights certificate account 2,200 U.S. Treasury and agency securities pledged (1) 708,507 Other assets pledged 0 Memo: Total U.S. Treasury and agency securities (1) 753,992 Less:face value of securities under reverse repurchase agreements 25,204 U.S. Treasury and agency securities eligible to be pledged 728,788 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.