FEDERAL RESERVE Statistical Release H.4.1 Factors Affecting Reserve Balances of Depository Institutions and Condition Statement of Federal Reserve Banks June 23, 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 Jun 22, 2005 Jun 15, 2005 Jun 23, 2004 Jun 22, 2005 Federal Reserve Banks Reserve Bank Credit 787,859 - 93 + 39,425 791,914 Securities held outright 725,909 + 427 + 40,866 725,987 U.S. Treasury (1) 725,909 + 427 + 40,866 725,987 Bills (2) 265,015 0 + 13,051 265,015 Notes and bonds, nominal (2) 438,678 0 + 21,984 438,678 Notes and bonds, inflation-indexed (2) 19,473 + 365 + 5,009 19,533 Inflation compensation (3) 2,743 + 63 + 823 2,760 Federal agency (2) 0 0 0 0 Repurchase agreements(4) 22,286 - 1,428 - 1,964 26,250 Loans to depository institutions 180 + 18 - 17 197 Primary credit 22 + 8 - 32 21 Secondary credit 0 0 0 0 Seasonal credit 158 + 10 + 15 176 Float -225 + 504 + 39 -357 Other Federal Reserve assets 39,710 + 387 + 501 39,838 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 + 633 36,643 Total factors supplying reserve funds 837,743 - 79 + 40,053 841,798 Currency in circulation(5) 759,040 - 574 + 34,096 760,089 Reverse repurchase agreements (6) 23,417 - 274 + 4,695 23,362 Foreign official and international accounts 23,417 - 274 + 4,695 23,362 Dealers 0 0 0 0 Treasury cash holdings 268 - 12 - 47 245 Deposits with F.R.Banks, other than reserve balances 13,942 - 664 - 3,712 14,055 U.S. Treasury, general account 4,982 - 552 - 2,052 5,099 Foreign official 96 + 3 - 7 84 Service-related 8,606 - 2 - 1,687 8,606 Required clearing balances 8,606 - 2 - 1,687 8,606 Adjustments to compensate for float 0 0 0 0 Other 258 - 114 + 33 267 Other liabilities and capital 29,504 + 105 + 7,797 29,427 Total factors, other than reserve balances, absorbing reserve funds 826,171 - 1,420 + 42,829 827,178 Reserve balances with Federal Reserve Banks 11,572 + 1,340 - 2,776 14,620 Memo (off-balance-sheet items): Marketable securities held in custody for foreign official and international accounts(2,7) 1,436,547 + 213 + 212,607 1,441,034 U.S. Treasury 1,091,598 - 226 + 101,495 1,091,557 Federal agency 344,948 + 438 + 111,111 349,478 Securities lent to dealers 4,093 - 1,073 + 3,113 3,830 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 Jun 22, 2005 Jun 15, 2005 Jun 23, 2004 Assets Gold certificate account 11,037 0 - 4 Special drawing rights certificate account 2,200 0 0 Coin 642 + 13 - 112 Securities, repurchase agreements, and loans 752,434 - 2,211 + 35,092 Securities held outright 725,987 + 492 + 40,810 U.S. Treasury (1) 725,987 + 492 + 40,810 Bills (2) 265,015 0 + 12,921 Notes and bonds, nominal (2) 438,678 0 + 21,984 Notes and bonds, inflation-indexed (2) 19,533 + 425 + 5,069 Inflation compensation (3) 2,760 + 67 + 836 Federal agency (2) 0 0 0 Repurchase agreements (4) 26,250 - 2,750 - 5,750 Loans 197 + 46 + 32 Items in process of collection (749) 5,819 + 486 + 259 Bank premises 1,829 + 6 + 138 Other assets (5) 38,443 + 951 + 748 Total assets (749) 812,402 - 757 + 36,119 Liabilities Federal Reserve notes net of FR Bank holdings 724,328 - 251 + 31,321 Reverse repurchase agreements (6) 23,362 + 215 + 5,897 Deposits (0) 29,112 - 1,053 - 9,057 Depository institutions 23,662 + 3,691 - 6,995 U.S. Treasury, general account 5,099 - 4,750 - 2,103 Foreign official 84 - 7 + 2 Other (0) 267 + 12 + 40 Deferred availability cash items (749) 6,174 - 121 + 172 Other liabilities and accrued dividends (7) 3,553 + 51 + 1,002 Total liabilities (749) 786,528 - 1,161 + 29,334 Capital Accounts Capital paid in 12,935 + 14 + 3,711 Surplus 11,451 + 55 + 2,604 Other capital accounts 1,488 + 336 + 470 Total capital 25,874 + 404 + 6,785 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, June 22, 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 183 61,540 - 313 0 0 26,250 23,362 16 days to 90 days 14 156,020 + 446 0 0 0 0 91 days to 1 year 0 159,576 - 133 0 0 ------ ------ Over 1 to 5 years ------ 216,566 + 14 0 0 ------ ------ Over 5 to 10 years ------ 54,145 + 376 0 0 ------ ------ Over 10 years ------ 78,140 + 102 0 0 ------ ------ All 197 725,987 + 492 0 0 26,250 23,362 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 June 22, 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 642 20 35 43 48 51 84 103 36 19 46 60 97 Securities, repurchase agreements, and loans 752,434 37,144 314,129 25,754 30,669 55,407 56,172 65,457 22,543 15,219 20,552 35,760 73,628 Securities held outright 725,987 37,144 287,879 25,754 30,669 55,405 56,166 65,379 22,528 15,163 20,534 35,756 73,611 U.S. Treasury (1) 725,987 37,144 287,879 25,754 30,669 55,405 56,166 65,379 22,528 15,163 20,534 35,756 73,611 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) 460,972 23,585 182,791 16,353 19,474 35,180 35,663 41,513 14,304 9,628 13,038 22,704 46,740 Federal agency (2) 0 0 0 0 0 0 0 0 0 0 0 0 0 Repurchase agreements(4) 26,250 0 26,250 0 0 0 0 0 0 0 0 0 0 Loans 197 0 0 0 0 2 6 78 15 56 18 4 18 Items in process of collection 6,568 497 352 299 710 295 1,030 272 184 262 856 336 1,476 Bank premises 1,829 106 202 54 158 143 274 192 63 121 86 264 166 Other assets(5) 38,443 3,279 14,319 1,200 2,487 5,086 2,387 2,631 900 763 695 999 3,696 Interdistrict settlement account 0 - 2,277 - 8,056 + 5,503 + 461 + 4,522 + 2,557 + 3,153 + 392 - 442 + 336 - 2,926 - 3,224 Total Assets 813,152 39,394 326,210 33,368 35,090 66,488 63,615 72,948 24,516 16,185 22,954 35,139 77,245 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 June 22, 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 866,720 39,471 336,451 36,968 35,160 66,968 80,954 76,113 25,116 16,421 25,106 40,649 87,345 Less: notes held by F.R. Banks 142,392 4,156 42,741 6,416 5,345 12,377 24,013 9,798 2,873 2,176 4,692 8,292 19,513 Federal Reserve notes, net 724,328 35,315 293,709 30,552 29,815 54,591 56,940 66,315 22,243 14,246 20,414 32,357 67,832 Reverse repurchase agreements (1) 23,362 1,195 9,264 829 987 1,783 1,807 2,104 725 488 661 1,151 2,369 Deposits 29,112 835 13,852 776 1,246 2,698 2,412 2,101 580 320 734 871 2,686 Depository institutions 23,662 824 8,525 775 1,242 2,609 2,410 2,098 576 319 732 870 2,681 U.S. Treasury, general account 5,099 0 5,099 0 0 0 0 0 0 0 0 0 0 Foreign official 84 5 55 1 4 7 2 3 1 1 1 0 4 Other 267 6 173 1 1 82 0 0 3 0 1 0 0 Deferred availability cash items 6,923 521 731 443 640 518 786 355 156 509 707 260 1,297 Other liabilities and accrued dividends (2) 3,553 181 1,178 133 194 397 282 334 134 105 111 179 326 Total liabilities 787,278 38,047 318,734 32,733 32,883 59,987 62,228 71,209 23,838 15,667 22,626 34,816 74,509 Capital Capital paid in 12,935 173 3,627 308 1,127 3,958 669 845 330 253 157 148 1,341 Surplus 11,451 1,175 3,430 294 1,065 2,148 516 763 236 254 153 135 1,283 Other capital 1,488 0 420 32 15 394 202 131 112 10 18 40 113 Total liabilities and capital 813,152 39,394 326,210 33,368 35,090 66,488 63,615 72,948 24,516 16,185 22,954 35,139 77,245 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 Jun 22, 2005 Federal Reserve notes outstanding 866,720 Less: Notes held by F.R. Banks not subject to collateralization 142,392 Federal Reserve Notes to be collateralized 724,328 Collateral held against Federal Reserve notes 724,328 Gold certificate account 11,037 Special drawing rights certificate account 2,200 U.S. Treasury and agency securities pledged (1) 711,091 Other assets pledged 0 Memo: Total U.S. Treasury and agency securities (1) 752,237 Less:face value of securities under reverse repurchase agreements 23,379 U.S. Treasury and agency securities eligible to be pledged 728,858 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.