FEDERAL RESERVE Statistical Release H.4.1 Factors Affecting Reserve Balances of Depository Institutions and Condition Statement of Federal Reserve Banks January 20, 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 Jan 19, 2005 Jan 12, 2005 Jan 21, 2004 Jan 19, 2005 Federal Reserve Banks Reserve Bank Credit 783,308 + 2,628 + 45,056 782,994 Securities held outright 717,825 + 3 + 50,998 717,825 U.S. Treasury (1) 717,825 + 3 + 50,998 717,825 Bills (2) 262,970 0 + 17,950 262,970 Notes and bonds, nominal (2) 436,429 0 + 30,256 436,429 Notes and bonds, inflation-indexed (2) 16,108 0 + 2,114 16,108 Inflation compensation (3) 2,317 + 2 + 678 2,318 Federal agency (2) 0 0 0 0 Repurchase agreements(4) 24,786 + 1,893 - 5,821 22,500 Loans to depository institutions 53 - 12 - 170 61 Primary credit 35 - 10 - 177 42 Secondary credit 0 0 0 0 Seasonal credit 19 - 1 + 8 19 Float 943 + 300 + 1,119 3,188 Other Federal Reserve assets 39,702 + 445 - 1,069 39,420 Gold stock 11,045 0 + 2 11,045 Special drawing rights certificate account 2,200 0 0 2,200 Treasury currency outstanding (5) 36,533 + 14 + 1,006 36,533 Total factors supplying reserve funds 833,086 + 2,643 + 46,064 832,772 Currency in circulation(5) 748,943 - 1,181 + 37,739 748,954 Reverse repurchase agreements (6) 27,580 - 2,384 + 7,583 27,594 Foreign official and international accounts 27,580 - 2,384 + 7,583 27,594 Dealers 0 0 0 0 Treasury cash holdings 257 - 16 - 77 296 Deposits with F.R.Banks, other than reserve balances 14,802 - 262 - 3,804 15,202 U.S. Treasury, general account 4,781 - 364 - 2,593 5,142 Foreign official 81 + 2 - 5 79 Service-related 9,594 + 1 - 1,138 9,594 Required clearing balances 9,593 0 - 591 9,593 Adjustments to compensate for float 2 + 2 - 546 2 Other 346 + 99 - 68 387 Other liabilities and capital 26,279 + 574 + 6,159 25,976 Total factors, other than reserve balances, absorbing reserve funds 817,861 - 3,268 + 47,600 818,022 Reserve balances with Federal Reserve Banks 15,225 + 5,911 - 1,536 14,749 Memo (off-balance-sheet items): Marketable securities held in custody for foreign official and international accounts(2,7) 1,343,578 - 7,478 + 238,476 1,346,982 U.S. Treasury 1,068,838 - 2,722 + 183,870 1,073,699 Federal agency 274,740 - 4,756 + 54,606 273,283 Securities lent to dealers 2,164 - 505 + 971 2,057 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 Jan 19, 2005 Jan 12, 2005 Jan 21, 2004 Assets Gold certificate account 11,041 0 + 2 Special drawing rights certificate account 2,200 0 0 Coin 751 + 14 - 28 Securities, repurchase agreements, and loans 740,387 + 4,264 + 31,423 Securities held outright 717,825 + 2 + 50,993 U.S. Treasury (1) 717,825 + 2 + 50,993 Bills (2) 262,970 0 + 17,942 Notes and bonds, nominal (2) 436,429 0 + 30,256 Notes and bonds, inflation-indexed (2) 16,108 0 + 2,114 Inflation compensation (3) 2,318 + 2 + 682 Federal agency (2) 0 0 0 Repurchase agreements (4) 22,500 + 4,250 - 19,500 Loans 61 + 11 - 71 Items in process of collection (1,260) 12,550 + 4,556 - 201 Bank premises 1,779 + 3 + 135 Other assets (5) 39,837 - 324 + 496 Total assets (1,260) 808,544 + 8,512 + 31,827 Liabilities Federal Reserve notes net of FR Bank holdings 713,464 - 387 + 36,839 Reverse repurchase agreements (6) 27,594 + 363 + 7,859 Deposits (0) 32,148 + 6,116 - 16,668 Depository institutions 26,540 + 5,831 - 14,004 U.S. Treasury, general account 5,142 + 191 - 2,598 Foreign official 79 - 9 - 37 Other (0) 387 + 103 - 29 Deferred availability cash items (1,260) 9,362 + 2,639 - 2,046 Other liabilities and accrued dividends (7) 2,784 - 19 + 542 Total liabilities (1,260) 785,352 + 8,712 + 26,527 Capital Accounts Capital paid in 12,015 + 7 + 3,140 Surplus 10,946 - 7 + 2,099 Other capital accounts 231 - 200 + 61 Total capital 23,192 - 200 + 5,300 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, January 19, 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 61 56,493 + 10,040 0 0 22,500 27,594 16 days to 90 days 0 154,007 - 9,088 0 0 0 0 91 days to 1 year 0 170,089 + 224 0 0 ------ ------ Over 1 to 5 years ------ 209,683 + 1,413 0 0 ------ ------ Over 5 to 10 years ------ 51,786 - 2,587 0 0 ------ ------ Over 10 years ------ 75,767 + 1 0 0 ------ ------ All 61 717,825 + 2 0 0 22,500 27,594 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 January 19, 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 11,041 494 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 751 19 46 55 54 68 85 119 35 22 47 86 114 Securities, repurchase agreements, and loans 740,387 33,707 333,776 21,358 30,673 54,560 48,408 64,673 21,089 15,661 18,864 32,729 64,890 Securities held outright 717,825 33,707 311,259 21,350 30,673 54,558 48,408 64,661 21,089 15,657 18,863 32,729 64,872 U.S. Treasury (1) 717,825 33,707 311,259 21,350 30,673 54,558 48,408 64,661 21,089 15,657 18,863 32,729 64,872 Bills (2) 262,970 12,348 114,027 7,821 11,237 19,987 17,734 23,688 7,726 5,736 6,910 11,990 23,765 Notes and bonds(3) 454,855 21,359 197,231 13,529 19,436 34,571 30,674 40,973 13,363 9,921 11,953 20,739 41,107 Federal agency (2) 0 0 0 0 0 0 0 0 0 0 0 0 0 Repurchase agreements(4) 22,500 0 22,500 0 0 0 0 0 0 0 0 0 0 Loans 61 0 17 8 0 2 0 12 0 4 1 0 18 Items in process of collection 13,810 926 1,035 649 1,044 744 1,371 1,587 755 647 1,218 631 3,203 Bank premises 1,779 100 196 53 157 144 277 158 67 123 82 256 167 Other assets(5) 39,837 1,817 14,223 1,157 2,473 6,289 2,305 3,608 1,041 1,180 815 999 3,929 Interdistrict settlement account 0 + 2,756 -17,682 + 3,204 + 307 - 946 + 8,513 - 994 + 943 - 1,219 + 1,218 + 934 + 2,966 Total Assets 809,804 39,934 337,119 26,941 35,263 61,825 62,019 70,287 24,326 16,661 22,612 36,258 76,558 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 January 19, 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 852,385 38,591 341,123 32,534 34,320 64,728 73,762 72,834 24,900 16,434 24,565 40,807 87,787 Less: notes held by F.R. Banks 138,921 4,624 41,103 8,214 5,597 12,626 18,189 9,587 3,058 2,023 4,648 7,512 21,740 Federal Reserve notes, net 713,464 33,968 300,020 24,320 28,723 52,102 55,572 63,247 21,842 14,411 19,917 33,295 66,047 Reverse repurchase agreements (1) 27,594 1,296 11,965 821 1,179 2,097 1,861 2,486 811 602 725 1,258 2,494 Deposits 32,148 1,183 16,087 537 1,864 2,298 2,348 2,200 608 454 961 863 2,746 Depository institutions 26,540 1,175 10,664 536 1,861 2,141 2,346 2,196 605 453 959 862 2,742 U.S. Treasury, general account 5,142 0 5,142 0 0 0 0 0 0 0 0 0 0 Foreign official 79 2 56 1 2 7 2 3 1 1 1 0 4 Other 387 6 225 0 1 150 0 0 2 0 1 0 0 Deferred availability cash items 10,622 778 1,068 569 1,444 800 1,055 510 307 601 601 415 2,473 Other liabilities and accrued dividends (2) 2,784 155 987 101 147 252 222 263 108 85 94 142 229 Total liabilities 786,612 37,379 330,127 26,348 33,357 57,549 61,057 68,706 23,675 16,154 22,298 35,973 73,989 Capital Capital paid in 12,015 1,638 3,430 297 1,067 2,148 426 785 399 253 154 135 1,283 Surplus 10,946 916 3,430 294 839 2,127 516 763 236 254 153 135 1,283 Other capital 231 2 133 2 0 0 20 32 16 0 7 16 4 Total liabilities and capital 809,804 39,934 337,119 26,941 35,263 61,825 62,019 70,287 24,326 16,661 22,612 36,258 76,558 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 Jan 19, 2005 Federal Reserve notes outstanding 852,385 Less: Notes held by F.R. Banks not subject to collateralization 138,921 Federal Reserve Notes to be collateralized 713,464 Collateral held against Federal Reserve notes 713,464 Gold certificate account 11,041 Special drawing rights certificate account 2,200 U.S. Treasury and agency securities pledged (1) 700,224 Other assets pledged 0 Memo: Total U.S. Treasury and agency securities (1) 740,325 Less:face value of securities under reverse repurchase agreements 27,609 U.S. Treasury and agency securities eligible to be pledged 712,716 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.