FEDERAL RESERVE Statistical Release H.4.1 Factors Affecting Reserve Balances of Depository Institutions and Condition Statement of Federal Reserve Banks May 5, 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 4, 2005 Apr 27, 2005 May 5, 2004 May 4, 2005 Federal Reserve Banks Reserve Bank Credit 786,449 - 263 + 44,322 782,861 Securities held outright 719,356 + 1,415 + 41,618 719,372 U.S. Treasury (1) 719,356 + 1,415 + 41,618 719,372 Bills (2) 263,005 0 + 12,904 263,005 Notes and bonds, nominal (2) 434,785 + 1,385 + 23,397 434,785 Notes and bonds, inflation-indexed (2) 19,108 0 + 4,644 19,108 Inflation compensation (3) 2,457 + 29 + 672 2,473 Federal agency (2) 0 0 0 0 Repurchase agreements(4) 26,143 - 1,178 + 1,679 21,500 Loans to depository institutions 111 + 9 + 23 124 Primary credit 5 - 2 - 1 3 Secondary credit 0 0 0 0 Seasonal credit 107 + 11 + 25 121 Float -1,117 - 801 - 371 -112 Other Federal Reserve assets 41,957 + 295 + 1,375 41,978 Gold stock 11,041 0 - 4 11,041 Special drawing rights certificate account 2,200 0 0 2,200 Treasury currency outstanding (5) 36,672 + 14 + 830 36,672 Total factors supplying reserve funds 836,362 - 249 + 45,148 832,774 Currency in circulation(5) 753,795 + 1,062 + 35,290 755,472 Reverse repurchase agreements (6) 26,355 + 861 + 4,878 26,060 Foreign official and international accounts 26,355 + 861 + 4,878 26,060 Dealers 0 0 0 0 Treasury cash holdings 257 - 3 - 62 254 Deposits with F.R.Banks, other than reserve balances 14,326 - 80 - 2,723 14,082 U.S. Treasury, general account 4,863 - 723 - 1,162 4,618 Foreign official 101 + 6 - 29 79 Service-related 9,028 + 603 - 1,534 9,028 Required clearing balances 9,028 + 603 - 1,533 9,028 Adjustments to compensate for float 0 0 0 0 Other 335 + 35 + 3 357 Other liabilities and capital 28,799 - 69 + 7,877 28,643 Total factors, other than reserve balances, absorbing reserve funds 823,533 + 1,772 + 45,261 824,510 Reserve balances with Federal Reserve Banks 12,829 - 2,020 - 113 8,264 Memo (off-balance-sheet items): Marketable securities held in custody for foreign official and international accounts(2,7) 1,398,940 + 8,123 + 204,582 1,400,271 U.S. Treasury 1,077,108 + 849 + 112,373 1,075,587 Federal agency 321,833 + 7,275 + 92,210 324,684 Securities lent to dealers 3,492 + 1,897 - 221 2,096 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 4, 2005 Apr 27, 2005 May 5, 2004 Assets Gold certificate account 11,037 0 - 4 Special drawing rights certificate account 2,200 0 0 Coin 688 - 22 - 111 Securities, repurchase agreements, and loans 740,996 - 8,497 + 43,088 Securities held outright 719,372 + 734 + 41,561 U.S. Treasury (1) 719,372 + 734 + 41,561 Bills (2) 263,005 0 + 12,842 Notes and bonds, nominal (2) 434,785 + 700 + 23,397 Notes and bonds, inflation-indexed (2) 19,108 0 + 4,644 Inflation compensation (3) 2,473 + 34 + 677 Federal agency (2) 0 0 0 Repurchase agreements (4) 21,500 - 9,250 + 1,500 Loans 124 + 19 + 27 Items in process of collection (1,035) 7,545 + 896 + 702 Bank premises 1,810 + 1 + 138 Other assets (5) 39,986 + 229 + 739 Total assets (1,035) 804,262 - 7,394 + 44,551 Liabilities Federal Reserve notes net of FR Bank holdings 719,737 + 921 + 34,113 Reverse repurchase agreements (6) 26,060 + 992 + 5,407 Deposits (0) 22,164 - 9,488 - 3,010 Depository institutions 17,110 - 7,805 - 1,742 U.S. Treasury, general account 4,618 - 1,738 - 1,342 Foreign official 79 - 9 - 8 Other (0) 357 + 63 + 82 Deferred availability cash items (1,035) 7,657 + 57 + 517 Other liabilities and accrued dividends (7) 3,292 - 40 + 1,021 Total liabilities (1,035) 778,911 - 7,557 + 38,048 Capital Accounts Capital paid in 12,753 + 11 + 3,714 Surplus 11,397 + 40 + 2,550 Other capital accounts 1,200 + 111 + 237 Total capital 25,351 + 163 + 6,502 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 4, 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 5 63,851 + 4,070 0 0 21,500 26,060 16 days to 90 days 118 153,048 - 5,760 0 0 0 0 91 days to 1 year 0 161,061 + 2,029 0 0 ------ ------ Over 1 to 5 years ------ 213,805 - 325 0 0 ------ ------ Over 5 to 10 years ------ 50,365 + 475 0 0 ------ ------ Over 10 years ------ 77,241 + 245 0 0 ------ ------ All 124 719,372 + 734 0 0 21,500 26,060 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 4, 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 688 21 36 58 55 50 79 122 36 25 48 57 101 Securities, repurchase agreements, and loans 740,996 36,805 306,757 25,519 30,390 54,900 55,658 64,839 22,334 15,059 20,360 35,432 72,940 Securities held outright 719,372 36,805 285,256 25,519 30,390 54,900 55,654 64,783 22,323 15,025 20,347 35,430 72,940 U.S. Treasury (1) 719,372 36,805 285,256 25,519 30,390 54,900 55,654 64,783 22,323 15,025 20,347 35,430 72,940 Bills (2) 263,005 13,456 104,291 9,330 11,111 20,072 20,347 23,685 8,161 5,493 7,439 12,953 26,667 Notes and bonds(3) 456,367 23,349 180,965 16,189 19,279 34,828 35,307 41,098 14,161 9,532 12,908 22,477 46,273 Federal agency (2) 0 0 0 0 0 0 0 0 0 0 0 0 0 Repurchase agreements(4) 21,500 0 21,500 0 0 0 0 0 0 0 0 0 0 Loans 124 0 2 0 0 0 4 56 12 34 14 2 1 Items in process of collection 8,580 477 393 393 1,587 418 862 384 232 577 668 393 2,197 Bank premises 1,810 103 199 54 156 143 274 180 61 121 84 269 166 Other assets(5) 39,986 3,465 15,020 1,171 2,627 5,189 2,267 2,791 961 806 735 1,045 3,908 Interdistrict settlement account 0 - 275 - 855 + 4,040 - 186 + 2,201 + 996 + 985 - 42 - 254 - 252 - 2,723 - 3,635 Total Assets 805,297 41,221 326,781 31,751 35,184 63,883 61,248 70,440 23,981 16,576 22,027 35,121 77,082 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 4, 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 856,894 39,749 338,327 35,837 35,382 66,030 76,459 73,223 24,577 16,428 24,125 40,024 86,733 Less: notes held by F.R. Banks 137,157 4,444 39,964 7,474 5,311 12,359 21,891 9,206 3,005 1,907 4,564 7,736 19,294 Federal Reserve notes, net 719,737 35,305 298,363 28,363 30,070 53,671 54,567 64,017 21,573 14,521 19,561 32,288 67,438 Reverse repurchase agreements (1) 26,060 1,333 10,334 924 1,101 1,989 2,016 2,347 809 544 737 1,284 2,642 Deposits 22,164 986 8,890 1,150 902 2,315 1,834 1,612 614 313 720 690 2,137 Depository institutions 17,110 977 4,050 1,149 898 2,135 1,832 1,609 611 309 719 689 2,133 U.S. Treasury, general account 4,618 0 4,618 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 357 4 171 0 0 173 0 1 2 3 1 1 0 Deferred availability cash items 8,692 700 871 570 788 514 1,305 458 197 585 585 378 1,741 Other liabilities and accrued dividends (2) 3,292 200 1,092 125 177 333 266 308 125 96 104 166 302 Total liabilities 779,946 38,524 319,550 31,133 33,038 58,822 59,988 68,741 23,317 16,059 21,707 34,805 74,262 Capital Capital paid in 12,753 1,550 3,504 303 1,096 2,560 648 830 321 253 155 148 1,386 Surplus 11,397 1,136 3,430 294 1,049 2,148 516 763 236 254 153 135 1,283 Other capital 1,200 11 298 21 0 353 96 106 108 9 13 33 152 Total liabilities and capital 805,297 41,221 326,781 31,751 35,184 63,883 61,248 70,440 23,981 16,576 22,027 35,121 77,082 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 4, 2005 Federal Reserve notes outstanding 856,894 Less: Notes held by F.R. Banks not subject to collateralization 137,157 Federal Reserve Notes to be collateralized 719,737 Collateral held against Federal Reserve notes 719,737 Gold certificate account 11,037 Special drawing rights certificate account 2,200 U.S. Treasury and agency securities pledged (1) 706,500 Other assets pledged 0 Memo: Total U.S. Treasury and agency securities (1) 740,872 Less:face value of securities under reverse repurchase agreements 26,079 U.S. Treasury and agency securities eligible to be pledged 714,793 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.