H.4.1 Factors Affecting Reserve Balances of Depository Institutions

FEDERAL RESERVE statistical release H.4.1 Factors Affecting Reserve Balances of Depository Institutions and Condition Statement of Federal Reserve Banks February 3, 2005 1. Factors Affecting Reserve Balances of Depository Institutions Millions of dollars Reserve Bank credit, related items, and Averages of daily figures reserve balances of depository institutions Week ended Change from week ended Wednesday at Federal Reserve Banks Feb 2, 2005 Jan 26, 2005 Feb 4, 2004 Feb 2, 2005 Reserve Bank credit 784,230 + 3,673 + 51,990 782,165 Securities held outright 717,855 + 28 + 50,593 717,898 U.S. Treasury1 717,855 + 28 + 50,593 717,898 Bills2 262,980 + 10 + 17,507 263,005 Notes and bonds, nominal2 435,143 - 1,286 + 28,970 433,429 Notes and bonds, inflation-indexed2 17,394 + 1,286 + 3,400 19,108 Inflation compensation3 2,337 + 18 + 715 2,356 Federal agency2 0 0 0 0 Repurchase agreements4 26,321 + 4,428 + 3,107 24,250 Loans to depository institutions 61 - 16 + 38 83 Primary credit 42 - 13 + 32 71 Secondary credit 0 0 0 0 Seasonal credit 19 - 3 + 6 12 Float 67 - 1,092 - 267 -10 Other Federal Reserve assets 39,927 + 325 - 1,480 39,945 Gold stock 11,043 - 2 0 11,042 Special drawing rights certificate account 2,200 0 0 2,200 Treasury currency outstanding5 36,561 + 14 + 994 36,561 Total factors supplying reserve funds 834,034 + 3,685 + 52,985 831,969 Currency in circulation5 747,138 + 149 + 36,978 749,717 Reverse repurchase agreements6 26,805 - 648 + 6,224 27,872 Foreign official and international accounts 26,805 - 648 + 6,224 27,872 Dealers 0 0 0 0 Treasury cash holdings 272 - 20 - 84 291 Deposits with F.R. Banks, other than reserve balances 14,428 - 185 - 1,920 14,507 U.S. Treasury, general account 5,070 - 182 + 169 5,097 Foreign official 97 + 14 + 14 156 Service-related 8,945 - 3 - 1,999 8,945 Required clearing balances 8,945 - 2 - 1,669 8,945 Adjustments to compensate for float 0 - 2 - 330 0 Other 316 - 14 - 105 309 Other liabilities and capital 26,615 + 381 + 6,230 26,551 Total factors, other than reserve balances, absorbing reserve funds 815,258 - 323 + 47,429 818,937 Reserve balances with Federal Reserve Banks 18,775 + 4,007 + 5,555 13,032 Memo (off-balance-sheet items): Marketable securities held in custody for foreign official and international accounts2,7 1,346,495 - 875 + 229,545 1,344,370 U.S. Treasury 1,061,800 - 8,248 + 172,332 1,058,594 Federal agency 284,695 + 7,373 + 57,214 285,776 Securities lent to dealers 3,639 + 2,435 + 3,290 5,641 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.

H.4.1 2. Consolidated Statement of Condition of All Federal Reserve Banks Millions of dollars Change since Eliminations from Assets, liabilities, and capital consolidation Wednesday Wednesday Wednesday Feb 2, 2005 Jan 26, 2005 Feb 4, 2004 Assets Gold certificate account 11,038 - 3 0 Special drawing rights certificate account 2,200 0 0 Coin 806 + 21 - 52 Securities, repurchase agreements, and loans 742,231 - 4,415 + 51,666 Securities held outright 717,898 + 71 + 50,606 U.S. Treasury1 717,898 + 71 + 50,606 Bills2 263,005 + 35 + 17,500 Notes and bonds, nominal2 433,429 - 3,000 + 27,256 Notes and bonds, inflation-indexed2 19,108 + 3,000 + 5,114 Inflation compensation3 2,356 + 36 + 736 Federal agency2 0 0 0 Repurchase agreements4 24,250 - 4,500 + 1,000 Loans 83 + 14 + 60 Items in process of collection (958) 7,946 + 1,742 - 935 Bank premises 1,781 + 3 + 137 Other assets5 40,366 + 157 + 511 Total assets (958) 806,368 - 2,494 + 51,327 Liabilities Federal Reserve notes, net of F.R. Bank holdings 714,249 + 2,257 + 35,949 Reverse repurchase agreements6 27,872 - 3,202 + 7,446 Deposits (0) 29,741 - 3,627 + 2,234 Depository institutions 24,179 - 3,679 + 2,897 U.S. Treasury, general account 5,097 - 20 - 631 Foreign official 156 + 80 + 76 Other (0) 309 - 8 - 109 Deferred availability cash items (958) 7,956 + 1,796 - 626 Other liabilities and accrued dividends7 2,834 - 2 + 624 Total liabilities (958) 782,652 - 2,777 + 45,627 Capital accounts Capital paid in 12,437 + 417 + 3,548 Surplus 10,996 + 2 + 2,149 Other capital accounts 283 - 137 + 3 Total capital 23,716 + 283 + 5,700 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. 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, February 2, 2005 Millions of dollars U.S. Treasury Federal agency Reverse securities1 securities Repurchase Maturity Loans repurchase Weekly Weekly agreements2 Holdings Holdings agreements2 changes changes Within 15 days 74 55,168 - 2,582 0 0 24,250 27,872 16 days to 90 days 8 156,730 + 3,571 0 0 0 0 91 days to 1 year 0 167,654 - 2,027 0 0 . . . . . . Over 1 year to 5 years . . . 207,754 - 1,930 0 0 . . . . . . Over 5 years to 10 years . . . 51,786 0 0 0 . . . . . . Over 10 years . . . 78,806 + 3,038 0 0 . . . . . . All 83 717,898 + 70 0 0 24,250 27,872 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.

H.4.1 4. Statement of Condition of Each Federal Reserve Bank on February 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 11,0 3 8 4 9 4 4,6 4 8 3 8 2 4 5 2 8 1 9 8 9 4 9 2 4 3 2 5 2 1 8 3 0 2 5 2 5 1,055 Special drawing rights certificate acct. 2,2 0 0 1 1 5 8 7 4 8 3 1 0 4 1 4 7 1 6 6 2 1 2 7 1 3 0 6 6 9 8 234 Coin 8 0 6 2 1 4 8 6 1 5 9 7 5 9 2 1 2 3 3 6 2 5 5 3 8 8 125 Securities, repurchase agreements, and loans 742,2 3 1 33,7 1 2 335,5 5 1 21,3 7 4 30,6 7 6 54,5 6 3 48,4 1 6 64,6 7 2 21,1 1 2 15,6 6 0 18,8 6 6 32,7 3 3 64,896 Securities held outright 717,8 9 8 33,7 1 1 311,2 9 0 21,3 5 2 30,6 7 6 54,5 6 3 48,4 1 3 64,6 6 7 21,0 9 1 15,6 5 8 18,8 6 5 32,7 3 3 64,879 U.S. Treasury1 717,8 9 8 33,7 1 1 311,2 9 0 21,3 5 2 30,6 7 6 54,5 6 3 48,4 1 3 64,6 6 7 21,0 9 1 15,6 5 8 18,8 6 5 32,7 3 3 64,879 Bills2 263,0 0 5 12,3 5 0 114,0 4 2 7,8 2 2 11,2 3 8 19,9 9 0 17,7 3 6 23,6 9 1 7,7 2 7 5,7 3 6 6,9 1 1 11,9 9 2 23,769 Notes and bonds3 454,8 9 3 21,3 6 1 197,2 4 8 13,5 3 0 19,4 3 8 34,5 7 4 30,6 7 7 40,9 7 6 13,3 6 4 9,9 2 2 11,9 5 4 20,7 4 1 41,110 Federal agency2 0 0 0 0 0 0 0 0 0 0 0 0 0 Repurchase agreements4 24,2 5 0 0 24,2 5 0 0 0 0 0 0 0 0 0 0 0 Loans 8 3 2 1 1 2 2 0 0 3 5 2 1 2 1 0 17 Items in process of collection 8,9 0 4 4 6 7 5 1 5 3 8 8 7 4 3 4 2 6 1,1 3 5 6 1 7 3 6 2 5 3 0 6 2 7 4 0 6 2,689 Bank premises 1,7 8 1 1 0 1 1 9 7 5 3 1 5 7 1 4 3 2 7 5 1 6 5 6 3 1 2 2 8 2 2 5 6 167 Other assets5 40,3 6 6 3,4 2 7 15,7 3 4 1,0 8 3 2,6 6 4 5,2 5 1 2,1 2 8 2,8 2 3 9 4 4 8 2 4 7 1 5 1,0 0 1 3,770 Interdistrict settlement account 0 + 2,6 2 1 -23,8 3 7 + 4,1 6 9 - 1,0 2 8 + 2,2 0 3 + 8,8 4 1 + 6 4 2 + 1,5 9 2 - 7 6 3 + 1,6 4 5 + 1,3 3 4 + 2,580 Total assets 807,3 2 6 40,9 5 8 333,7 3 0 27,5 9 4 33,8 2 6 63,6 2 8 61,9 4 7 70,1 7 8 24,5 0 6 16,6 4 6 22,3 5 6 36,4 4 0 75,515 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.

H.4.1 4. Statement of Condition of Each Federal Reserve Bank on February 2, 2005 (continued) Millions of dollars Kansas San Assets, liabilities, and capital Total Boston New York Philadelphia Cleveland Richmond Atlanta Chicago St. Louis Minneapolis Dallas City Francisco Liabilities Federal Reserve notes outstanding 852,86 2 39,9 0 3 341,7 4 0 32,9 5 6 34,1 7 3 64,5 1 6 73,1 8 2 72,7 8 5 24,8 8 2 16,3 9 7 24,5 6 6 40,5 7 7 87,184 Less: notes held by F.R. Banks 138,61 3 4,8 4 2 42,1 5 7 8,1 7 8 5,4 5 6 12,4 3 1 17,9 4 4 9,4 9 0 2,6 8 2 1,9 4 2 4,7 3 6 7,1 5 8 21,597 Federal Reserve notes, net 714,24 9 35,0 6 1 299,5 8 3 24,7 7 8 28,7 1 7 52,0 8 5 55,2 3 9 63,2 9 5 22,2 0 1 14,4 5 5 19,8 3 0 33,4 1 9 65,587 Reverse repurchase agreements1 27,87 2 1,3 0 9 12,0 8 5 8 2 9 1,1 9 1 2,1 1 8 1,8 8 0 2,5 1 1 8 1 9 6 0 8 7 3 2 1,2 7 1 2,519 Deposits 29,74 1 1,1 4 6 13,1 1 4 7 1 4 1,2 0 0 3,8 4 1 2,5 3 4 1,9 4 5 5 1 3 3 6 5 9 0 0 9 1 5 2,554 Depository institutions 24,17 9 1,1 2 3 7,7 1 4 7 1 3 1,1 9 6 3,7 2 4 2,5 3 2 1,9 4 2 5 1 0 3 6 4 8 9 8 9 1 3 2,549 U.S. Treasury, general account 5,09 7 0 5,0 9 7 0 0 0 0 0 0 0 0 0 0 Foreign official 15 6 5 1 2 7 1 4 7 2 3 1 1 1 0 4 Other 30 9 1 7 1 7 6 0 0 1 1 0 0 1 2 0 1 1 0 Deferred availability cash items 8,91 4 7 1 6 9 5 2 5 7 0 6 2 0 6 2 8 1,1 0 5 5 6 1 1 9 4 6 2 3 4 8 9 4 0 9 2,047 Other liabilities and accrued dividends2 2,83 4 1 5 9 1,0 0 0 1 0 1 1 5 3 2 6 3 2 1 6 2 7 4 1 1 1 8 7 9 3 1 4 3 235 Total liabilities 783,61 0 38,3 9 1 326,7 3 6 26,9 9 2 31,8 8 0 58,9 3 6 60,9 7 3 68,5 8 5 23,8 3 7 16,1 3 8 22,0 4 4 36,1 5 6 72,942 Capital Capital paid in 12,43 7 1,6 3 8 3,4 3 0 2 9 7 1,0 9 1 2,5 3 8 4 2 6 7 8 7 4 0 0 2 5 3 1 5 5 1 3 5 1,288 Surplus 10,99 6 9 2 9 3,4 3 0 2 9 4 8 5 5 2,1 4 8 5 1 6 7 6 3 2 3 6 2 5 4 1 5 3 1 3 5 1,283 Other capital 28 3 0 1 3 5 1 1 0 6 3 2 4 2 3 4 1 4 1 4 4 Total liabilities and capital 807,32 6 40,9 5 8 333,7 3 0 27,5 9 4 33,8 2 6 63,6 2 8 61,9 4 7 70,1 7 8 24,5 0 6 16,6 4 6 22,3 5 6 36,4 4 0 75,515 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 Wednesday Federal Reserve notes and collateral Feb 2, 2005 Federal Reserve notes outstanding 852,862 Less: Notes held by F.R. Banks not subject to collateralization 138,613 Federal Reserve notes to be collateralized 714,249 Collateral held against Federal Reserve notes 714,249 Gold certificate account 11,038 Special drawing rights certificate account 2,200 U.S. Treasury and agency securities pledged1 701,011 Other assets pledged 0 Memo: Total U.S. Treasury and agency securities1 742,148 Less: face value of securities under reverse repurchase agreements 27,888 U.S. Treasury and agency securities eligible to be pledged 714,260 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.