FEDERAL RESERVE Statistical Release H.4.1 Factors Affecting Reserve Balances of Depository Institutions and Condition Statement of Federal Reserve Banks March 3, 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 Mar 2, 2005 Feb 23, 2005 Mar 3, 2004 Mar 2, 2005 Federal Reserve Banks Reserve Bank Credit 784,887 + 4,120 + 48,292 780,946 Securities held outright 717,686 - 159 + 46,100 717,495 U.S. Treasury (1) 717,686 - 159 + 46,100 717,495 Bills (2) 263,005 0 + 16,805 263,005 Notes and bonds, nominal (2) 433,286 - 143 + 23,502 433,096 Notes and bonds, inflation-indexed (2) 19,108 0 + 5,114 19,108 Inflation compensation (3) 2,286 - 17 + 678 2,286 Federal agency (2) 0 0 0 0 Repurchase agreements(4) 26,571 + 2,607 + 285 24,250 Loans to depository institutions 81 + 60 + 57 325 Primary credit 64 + 59 + 61 306 Secondary credit 0 0 0 0 Seasonal credit 17 + 1 - 4 20 Float 937 + 1,255 + 787 -655 Other Federal Reserve assets 39,612 + 357 + 1,063 39,531 Gold stock 11,042 0 - 3 11,042 Special drawing rights certificate account 2,200 0 0 2,200 Treasury currency outstanding (5) 36,546 + 14 + 897 36,546 Total factors supplying reserve funds 834,675 + 4,133 + 49,186 830,734 Currency in circulation(5) 751,863 - 1,394 + 38,474 752,653 Reverse repurchase agreements (6) 24,390 + 533 + 3,781 25,375 Foreign official and international accounts 24,390 + 533 + 3,781 25,375 Dealers 0 0 0 0 Treasury cash holdings 263 - 6 - 54 257 Deposits with F.R.Banks, other than reserve balances 14,237 - 63 - 1,994 13,961 U.S. Treasury, general account 5,199 - 51 - 419 4,906 Foreign official 83 + 2 - 8 83 Service-related 8,672 0 - 1,535 8,672 Required clearing balances 8,672 + 1 - 1,406 8,672 Adjustments to compensate for float 0 0 - 128 0 Other 283 - 13 - 33 301 Other liabilities and capital 27,580 + 145 + 7,613 27,245 Total factors, other than reserve balances, absorbing reserve funds 818,333 - 786 + 47,820 819,492 Reserve balances with Federal Reserve Banks 16,342 + 4,919 + 1,366 11,242 Memo (off-balance-sheet items): Marketable securities held in custody for foreign official and international accounts(2,7) 1,378,687 + 13,982 + 227,007 1,381,253 U.S. Treasury 1,079,753 + 2,396 + 163,255 1,079,920 Federal agency 298,934 + 11,587 + 63,752 301,333 Securities lent to dealers 2,003 - 963 + 599 2,669 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 Mar 2, 2005 Feb 23, 2005 Mar 3, 2004 Assets Gold certificate account 11,037 - 1 - 4 Special drawing rights certificate account 2,200 0 0 Coin 793 - 17 - 74 Securities, repurchase agreements, and loans 742,071 - 1,043 + 46,663 Securities held outright 717,495 - 344 + 45,863 U.S. Treasury (1) 717,495 - 344 + 45,863 Bills (2) 263,005 0 + 16,765 Notes and bonds, nominal (2) 433,096 - 333 + 23,312 Notes and bonds, inflation-indexed (2) 19,108 0 + 5,114 Inflation compensation (3) 2,286 - 11 + 673 Federal agency (2) 0 0 0 Repurchase agreements (4) 24,250 - 1,000 + 500 Loans 325 + 301 + 299 Items in process of collection (1,423) 7,379 - 2,276 - 675 Bank premises 1,791 + 7 + 142 Other assets (5) 37,715 + 44 + 1,170 Total assets (1,423) 802,986 - 3,286 + 47,223 Liabilities Federal Reserve notes net of FR Bank holdings 717,152 - 1,219 + 36,922 Reverse repurchase agreements (6) 25,375 + 1,901 + 6,489 Deposits (0) 25,177 - 3,168 - 3,024 Depository institutions 19,888 - 3,614 - 3,199 U.S. Treasury, general account 4,906 + 419 + 208 Foreign official 83 + 2 + 1 Other (0) 301 + 26 - 34 Deferred availability cash items (1,423) 8,036 - 745 - 644 Other liabilities and accrued dividends (7) 3,033 + 22 + 813 Total liabilities (1,423) 778,774 - 3,208 + 40,557 Capital Accounts Capital paid in 12,522 + 14 + 3,556 Surplus 11,125 + 11 + 2,617 Other capital accounts 565 - 103 + 493 Total capital 24,213 - 77 + 6,666 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, March 2, 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 306 47,997 - 8,855 0 0 24,250 25,375 16 days to 90 days 20 170,674 + 7,490 0 0 0 0 91 days to 1 year 0 158,827 + 1,032 0 0 ------ ------ Over 1 to 5 years ------ 212,790 - 4 0 0 ------ ------ Over 5 to 10 years ------ 50,277 - 2 0 0 ------ ------ Over 10 years ------ 76,929 - 5 0 0 ------ ------ All 325 717,495 - 344 0 0 24,250 25,375 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 March 2, 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 11,037 494 4,647 382 452 819 894 924 325 218 302 525 1,055 Special drawing rights certificate acct. 2,200 115 874 83 104 147 166 212 71 30 66 98 234 Coin 793 22 52 61 59 70 82 126 37 25 54 79 128 Securities, repurchase agreements, and loans 742,071 33,692 335,365 21,340 30,954 54,533 48,386 64,639 21,079 15,661 18,856 32,715 64,851 Securities held outright 717,495 33,692 311,115 21,340 30,659 54,533 48,386 64,631 21,079 15,649 18,855 32,714 64,842 U.S. Treasury (1) 717,495 33,692 311,115 21,340 30,659 54,533 48,386 64,631 21,079 15,649 18,855 32,714 64,842 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) 454,490 21,342 197,073 13,518 19,420 34,543 30,650 40,940 13,352 9,913 11,943 20,723 41,074 Federal agency (2) 0 0 0 0 0 0 0 0 0 0 0 0 0 Repurchase agreements(4) 24,250 0 24,250 0 0 0 0 0 0 0 0 0 0 Loans 325 0 0 0 295 0 0 9 0 11 1 1 9 Items in process of collection 8,802 463 699 350 909 523 942 777 382 440 700 476 2,141 Bank premises 1,791 101 198 53 156 143 275 170 64 122 82 259 166 Other assets(5) 37,715 3,310 14,579 1,006 2,550 5,029 1,947 2,584 873 769 645 880 3,543 Interdistrict settlement account 0 + 3,082 -26,630 + 6,416 - 46 + 1,684 + 7,219 + 593 + 1,319 - 797 + 1,717 + 986 + 4,457 Total Assets 804,409 41,278 329,785 29,691 35,139 62,948 59,911 70,025 24,150 16,467 22,420 36,019 76,575 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 March 2, 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 855,319 40,108 340,823 35,120 35,530 65,077 73,182 72,603 24,743 16,337 24,370 40,315 87,111 Less: notes held by F.R. Banks 138,166 4,733 43,021 7,945 5,367 12,320 19,563 9,082 2,865 1,981 4,294 6,968 20,028 Federal Reserve notes, net 717,152 35,376 297,802 27,175 30,163 52,757 53,619 63,520 21,878 14,356 20,076 33,347 67,083 Reverse repurchase agreements (1) 25,375 1,192 11,003 755 1,084 1,929 1,711 2,286 745 553 667 1,157 2,293 Deposits 25,177 1,254 11,659 582 883 2,545 2,132 1,636 480 354 732 641 2,277 Depository institutions 19,888 1,245 6,529 581 879 2,417 2,130 1,633 476 353 730 640 2,272 U.S. Treasury, general account 4,906 0 4,906 0 0 0 0 0 0 0 0 0 0 Foreign official 83 5 55 1 4 7 2 3 1 1 1 0 4 Other 301 3 169 0 0 121 0 0 3 0 1 1 0 Deferred availability cash items 9,459 736 1,099 469 830 629 1,240 693 217 596 532 434 1,986 Other liabilities and accrued dividends (2) 3,033 170 1,071 106 165 291 227 290 117 91 98 149 256 Total liabilities 780,196 38,727 322,634 29,087 33,125 58,151 58,929 68,426 23,437 15,952 22,105 35,729 73,895 Capital Capital paid in 12,522 1,554 3,491 299 1,098 2,539 428 786 403 253 155 143 1,372 Surplus 11,125 997 3,430 294 916 2,148 516 763 236 254 153 135 1,283 Other capital 565 0 231 11 0 110 38 50 74 8 7 12 26 Total liabilities and capital 804,409 41,278 329,785 29,691 35,139 62,948 59,911 70,025 24,150 16,467 22,420 36,019 76,575 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 Mar 2, 2005 Federal Reserve notes outstanding 855,319 Less: Notes held by F.R. Banks not subject to collateralization 138,166 Federal Reserve Notes to be collateralized 717,152 Collateral held against Federal Reserve notes 717,152 Gold certificate account 11,037 Special drawing rights certificate account 2,200 U.S. Treasury and agency securities pledged (1) 703,915 Other assets pledged 0 Memo: Total U.S. Treasury and agency securities (1) 741,745 Less:face value of securities under reverse repurchase agreements 25,393 U.S. Treasury and agency securities eligible to be pledged 716,352 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.