FEDERAL RESERVE Statistical Release H.4.1 Factors Affecting Reserve Balances of Depository Institutions and Condition Statement of Federal Reserve Banks July 7, 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 Jul 6, 2005 Jun 29, 2005 Jul 7, 2004 Jul 6, 2005 Federal Reserve Banks Reserve Bank Credit 795,797 + 7,230 + 40,844 801,241 Securities held outright 724,719 - 1,290 + 37,051 724,717 U.S. Treasury (1) 724,719 - 1,290 + 37,051 724,717 Bills (2) 265,015 0 + 10,457 265,015 Notes and bonds, nominal (2) 437,374 - 1,304 + 20,680 437,374 Notes and bonds, inflation-indexed (2) 19,533 0 + 5,069 19,533 Inflation compensation (3) 2,797 + 15 + 846 2,796 Federal agency (2) 0 0 0 0 Repurchase agreements(4) 30,071 + 6,964 + 2,892 34,000 Loans to depository institutions 745 + 530 + 521 222 Primary credit 539 + 520 + 480 1 Secondary credit 0 0 0 0 Seasonal credit 206 + 10 + 41 221 Float 514 + 1,303 + 532 2,511 Other Federal Reserve assets 39,748 - 277 - 153 39,790 Gold stock 11,041 0 - 4 11,041 Special drawing rights certificate account 2,200 0 0 2,200 Treasury currency outstanding (5) 36,671 + 14 + 622 36,671 Total factors supplying reserve funds 845,709 + 7,244 + 41,462 851,153 Currency in circulation(5) 766,557 + 6,616 + 30,264 768,347 Reverse repurchase agreements (6) 25,767 + 1,456 + 5,809 24,464 Foreign official and international accounts 25,767 + 1,456 + 5,809 24,464 Dealers 0 0 0 0 Treasury cash holdings 237 - 7 - 66 237 Deposits with F.R.Banks, other than reserve balances 12,530 - 843 - 3,288 13,199 U.S. Treasury, general account 3,840 - 886 - 701 4,544 Foreign official 125 + 22 - 30 82 Service-related 8,278 - 1 - 2,584 8,278 Required clearing balances 8,278 - 1 - 2,584 8,278 Adjustments to compensate for float 0 0 0 0 Other 287 + 22 + 26 295 Other liabilities and capital 29,043 - 670 + 7,414 28,794 Total factors, other than reserve balances, absorbing reserve funds 834,134 + 6,552 + 40,134 835,041 Reserve balances with Federal Reserve Banks 11,574 + 691 + 1,327 16,112 Memo (off-balance-sheet items): Marketable securities held in custody for foreign official and international accounts(2,7) 1,437,974 - 2,245 + 202,421 1,438,044 U.S. Treasury 1,085,936 - 2,610 + 86,647 1,088,804 Federal agency 352,038 + 365 + 115,775 349,240 Securities lent to dealers 5,356 + 1,913 + 3,057 4,637 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 Jul 6, 2005 Jun 29, 2005 Jul 7, 2004 Assets Gold certificate account 11,037 0 - 3 Special drawing rights certificate account 2,200 0 0 Coin 608 - 19 - 104 Securities, repurchase agreements, and loans 758,939 + 6,671 + 42,822 Securities held outright 724,717 - 1,305 + 36,824 U.S. Treasury (1) 724,717 - 1,305 + 36,824 Bills (2) 265,015 0 + 10,239 Notes and bonds, nominal (2) 437,374 - 1,304 + 20,680 Notes and bonds, inflation-indexed (2) 19,533 0 + 5,069 Inflation compensation (3) 2,796 + 1 + 838 Federal agency (2) 0 0 0 Repurchase agreements (4) 34,000 + 8,000 + 6,000 Loans 222 - 25 - 3 Items in process of collection (1,388) 10,918 + 5,059 + 1,852 Bank premises 1,816 - 15 + 119 Other assets (5) 38,033 - 208 - 362 Total assets (1,388) 823,551 + 11,487 + 44,324 Liabilities Federal Reserve notes net of FR Bank holdings 732,517 + 4,877 + 29,358 Reverse repurchase agreements (6) 24,464 + 227 + 4,636 Deposits (0) 29,344 + 4,709 + 2,605 Depository institutions 24,424 + 4,297 + 948 U.S. Treasury, general account 4,544 + 371 + 1,629 Foreign official 82 - 1 - 2 Other (0) 295 + 43 + 31 Deferred availability cash items (1,388) 8,432 + 2,270 + 441 Other liabilities and accrued dividends (7) 3,225 - 394 + 900 Total liabilities (1,388) 797,982 + 11,690 + 37,940 Capital Accounts Capital paid in 12,939 + 3 + 3,688 Surplus 11,437 - 19 + 2,590 Other capital accounts 1,194 - 185 + 107 Total capital 25,569 - 202 + 6,384 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, July 6, 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 36 51,553 - 9,011 0 0 34,000 24,464 16 days to 90 days 186 165,271 + 7,859 0 0 0 0 91 days to 1 year 0 160,338 + 1,178 0 0 ------ ------ Over 1 to 5 years ------ 215,250 - 1,330 0 0 ------ ------ Over 5 to 10 years ------ 54,151 0 0 0 ------ ------ Over 10 years ------ 78,156 + 1 0 0 ------ ------ All 222 724,717 - 1,305 0 0 34,000 24,464 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 July 6, 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 608 15 33 32 46 45 86 100 38 16 48 61 88 Securities, repurchase agreements, and loans 758,939 37,079 321,376 25,709 30,616 55,308 56,075 65,343 22,528 15,206 20,518 35,698 73,484 Securities held outright 724,717 37,079 287,376 25,709 30,616 55,308 56,068 65,264 22,489 15,136 20,498 35,693 73,482 U.S. Treasury (1) 724,717 37,079 287,376 25,709 30,616 55,308 56,068 65,264 22,489 15,136 20,498 35,693 73,482 Bills (2) 265,015 13,559 105,088 9,401 11,196 20,225 20,503 23,866 8,224 5,535 7,496 13,052 26,871 Notes and bonds(3) 459,703 23,520 182,288 16,308 19,420 35,083 35,565 41,398 14,265 9,601 13,002 22,641 46,611 Federal agency (2) 0 0 0 0 0 0 0 0 0 0 0 0 0 Repurchase agreements(4) 34,000 0 34,000 0 0 0 0 0 0 0 0 0 0 Loans 222 0 0 0 0 0 7 79 40 70 20 4 2 Items in process of collection 12,306 1,081 733 761 1,186 907 1,397 863 383 459 1,561 808 2,167 Bank premises 1,816 105 201 54 157 143 273 195 63 121 74 264 165 Other assets(5) 38,033 3,239 14,358 1,200 2,460 4,850 2,147 2,639 902 761 698 1,013 3,766 Interdistrict settlement account 0 - 1,766 -16,107 + 5,534 + 1,098 + 5,593 + 4,100 + 3,695 + 495 - 361 + 501 - 1,822 - 962 Total Assets 824,939 40,378 325,824 33,805 36,120 67,830 65,189 73,975 24,807 16,444 23,784 36,668 80,115 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 July 6, 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 868,521 39,419 336,059 37,007 35,120 66,978 81,126 76,083 25,468 16,584 25,408 41,639 87,631 Less: notes held by F.R. Banks 136,004 3,755 42,678 5,744 4,766 11,578 23,155 9,109 2,759 2,168 4,435 7,854 18,004 Federal Reserve notes, net 732,517 35,664 293,381 31,263 30,354 55,399 57,971 66,974 22,708 14,416 20,974 33,785 69,627 Reverse repurchase agreements (1) 24,464 1,252 9,701 868 1,033 1,867 1,893 2,203 759 511 692 1,205 2,480 Deposits 29,344 821 13,348 551 1,476 2,823 2,556 2,160 488 365 700 658 3,398 Depository institutions 24,424 808 8,583 549 1,472 2,700 2,555 2,157 484 364 699 657 3,394 U.S. Treasury, general account 4,544 0 4,544 0 0 0 0 0 0 0 0 0 0 Foreign official 82 5 54 1 4 7 2 3 1 1 1 0 4 Other 295 8 167 0 0 115 0 0 2 0 1 0 0 Deferred availability cash items 9,820 1,133 937 378 876 968 947 621 250 546 993 537 1,635 Other liabilities and accrued dividends (2) 3,225 176 1,087 125 178 296 266 309 125 97 105 172 289 Total liabilities 799,370 39,046 318,453 33,184 33,918 61,352 63,633 72,267 24,331 15,935 23,464 36,357 77,429 Capital Capital paid in 12,939 173 3,627 309 1,128 3,958 862 845 138 253 157 149 1,341 Surplus 11,437 1,160 3,430 294 1,065 2,148 516 763 236 254 153 135 1,283 Other capital 1,194 0 314 18 9 371 178 100 103 1 9 27 62 Total liabilities and capital 824,939 40,378 325,824 33,805 36,120 67,830 65,189 73,975 24,807 16,444 23,784 36,668 80,115 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 Jul 6, 2005 Federal Reserve notes outstanding 868,521 Less: Notes held by F.R. Banks not subject to collateralization 136,004 Federal Reserve Notes to be collateralized 732,517 Collateral held against Federal Reserve notes 732,517 Gold certificate account 11,037 Special drawing rights certificate account 2,200 U.S. Treasury and agency securities pledged (1) 719,280 Other assets pledged 0 Memo: Total U.S. Treasury and agency securities (1) 758,717 Less:face value of securities under reverse repurchase agreements 24,485 U.S. Treasury and agency securities eligible to be pledged 734,232 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.