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 10, 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 9, 2005 Feb 2, 2005 Feb 11, 2004 Feb 9, 2005 Reserve Bank credit 776,603 - 7,627 + 47,065 777,858 Securities held outright 717,886 + 31 + 49,184 717,879 U.S. Treasury1 717,886 + 31 + 49,184 717,879 Bills2 263,005 + 25 + 17,373 263,005 Notes and bonds, nominal2 433,429 - 1,714 + 25,971 433,429 Notes and bonds, inflation-indexed2 19,108 + 1,714 + 5,114 19,108 Inflation compensation3 2,343 + 6 + 726 2,336 Federal agency2 0 0 0 0 Repurchase agreements4 16,143 - 10,178 - 1,143 14,500 Loans to depository institutions 37 - 24 + 9 30 Primary credit 22 - 20 + 3 17 Secondary credit 0 0 0 0 Seasonal credit 15 - 4 + 6 13 Float 316 + 250 - 1,226 3,259 Other Federal Reserve assets 42,221 + 2,294 + 240 42,191 Gold stock 11,042 - 1 - 1 11,042 Special drawing rights certificate account 2,200 0 0 2,200 Treasury currency outstanding5 36,575 + 14 + 988 36,575 Total factors supplying reserve funds 826,420 - 7,613 + 48,052 827,676 Currency in circulation5 750,277 + 3,139 + 37,763 752,427 Reverse repurchase agreements6 26,615 - 190 + 6,164 28,355 Foreign official and international accounts 26,615 - 190 + 6,164 28,355 Dealers 0 0 0 0 Treasury cash holdings 290 + 18 - 62 282 Deposits with F.R. Banks, other than reserve balances 15,066 + 638 - 2,014 14,890 U.S. Treasury, general account 4,913 - 157 - 439 4,747 Foreign official 89 - 8 + 9 85 Service-related 9,772 + 827 - 1,468 9,772 Required clearing balances 9,772 + 827 - 1,165 9,772 Adjustments to compensate for float 0 0 - 303 0 Other 292 - 24 - 116 287 Other liabilities and capital 26,703 + 88 + 6,153 26,476 Total factors, other than reserve balances, absorbing reserve funds 818,952 + 3,694 + 48,005 822,430 Reserve balances with Federal Reserve Banks 7,469 - 11,306 + 48 5,246 Memo (off-balance-sheet items): Marketable securities held in custody for foreign official and international accounts2,7 1,340,236 - 6,259 + 214,688 1,339,388 U.S. Treasury 1,053,668 - 8,132 + 157,061 1,053,934 Federal agency 286,567 + 1,872 + 57,626 285,454 Securities lent to dealers 2,264 - 1,375 + 1,172 4,986 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 9, 2005 Feb 2, 2005 Feb 11, 2004 Assets Gold certificate account 11,038 0 0 Special drawing rights certificate account 2,200 0 0 Coin 831 + 25 - 44 Securities, repurchase agreements, and loans 732,408 - 9,823 + 43,789 Securities held outright 717,879 - 19 + 48,028 U.S. Treasury1 717,879 - 19 + 48,028 Bills2 263,005 0 + 17,158 Notes and bonds, nominal2 433,429 0 + 25,035 Notes and bonds, inflation-indexed2 19,108 0 + 5,114 Inflation compensation3 2,336 - 20 + 720 Federal agency2 0 0 0 Repurchase agreements4 14,500 - 9,750 - 4,250 Loans 30 - 53 + 12 Items in process of collection (1,321) 10,312 + 2,366 + 3,438 Bank premises 1,783 + 2 + 138 Other assets5 40,369 + 3 - 262 Total assets (1,321) 798,942 - 7,426 + 47,059 Liabilities Federal Reserve notes, net of F.R. Bank holdings 716,961 + 2,712 + 36,691 Reverse repurchase agreements6 28,355 + 483 + 8,296 Deposits (0) 20,097 - 9,644 - 3,311 Depository institutions 14,979 - 9,200 - 2,709 U.S. Treasury, general account 4,747 - 350 - 500 Foreign official 85 - 71 + 3 Other (0) 287 - 22 - 103 Deferred availability cash items (1,321) 7,053 - 903 - 456 Other liabilities and accrued dividends7 2,930 + 96 + 673 Total liabilities (1,321) 775,396 - 7,256 + 41,893 Capital accounts Capital paid in 12,438 + 1 + 3,544 Surplus 10,906 - 90 + 2,059 Other capital accounts 201 - 82 - 438 Total capital 23,546 - 170 + 5,166 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 9, 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 19 54,759 - 409 0 0 14,500 28,355 16 days to 90 days 11 157,604 + 874 0 0 0 0 91 days to 1 year 0 167,189 - 465 0 0 . . . . . . Over 1 year to 5 years . . . 207,747 - 7 0 0 . . . . . . Over 5 years to 10 years . . . 51,782 - 4 0 0 . . . . . . Over 10 years . . . 78,797 - 9 0 0 . . . . . . All 30 717,879 - 19 0 0 14,500 28,355 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 9, 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 3 1 2 3 5 3 6 6 5 9 7 5 9 1 1 2 5 3 6 2 6 5 5 9 0 133 Securities, repurchase agreements, and loans 732,4 0 8 33,7 1 0 325,7 9 1 21,3 5 5 30,6 7 5 54,5 6 2 48,4 1 3 64,6 7 4 21,0 9 1 15,6 5 9 18,8 6 6 32,7 3 2 64,882 Securities held outright 717,8 7 9 33,7 1 0 311,2 8 2 21,3 5 1 30,6 7 5 54,5 6 2 48,4 1 2 64,6 6 5 21,0 9 1 15,6 5 8 18,8 6 5 32,7 3 2 64,877 U.S. Treasury1 717,8 7 9 33,7 1 0 311,2 8 2 21,3 5 1 30,6 7 5 54,5 6 2 48,4 1 2 64,6 6 5 21,0 9 1 15,6 5 8 18,8 6 5 32,7 3 2 64,877 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 7 3 21,3 6 0 197,2 3 9 13,5 2 9 19,4 3 7 34,5 7 2 30,6 7 5 40,9 7 4 13,3 6 4 9,9 2 1 11,9 5 3 20,7 4 0 41,108 Federal agency2 0 0 0 0 0 0 0 0 0 0 0 0 0 Repurchase agreements4 14,5 0 0 0 14,5 0 0 0 0 0 0 0 0 0 0 0 0 Loans 3 0 0 9 3 0 0 1 9 1 1 1 0 6 Items in process of collection 11,6 3 3 4 6 3 8 0 3 6 1 9 1,1 6 4 5 8 6 1,6 3 5 8 0 2 7 5 8 5 2 3 7 9 9 9 5 4 2,526 Bank premises 1,7 8 3 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 9 3,4 0 0 15,7 8 5 1,0 8 5 2,6 4 9 5,1 9 1 2,1 5 0 2,8 3 5 9 4 8 8 2 5 7 2 0 1,0 1 6 3,766 Interdistrict settlement account 0 + 3,0 3 1 -21,0 0 4 + 5,2 7 9 - 3 8 8 + 7 1 3 + 7,2 1 3 + 1 4 4 + 1,2 7 8 - 8 1 1 + 1,3 4 5 + 8 1 7 + 2,382 Total assets 800,2 6 3 41,3 3 7 327,1 4 8 28,9 2 1 34,8 7 2 62,2 3 6 60,8 3 7 69,8 8 1 24,5 7 0 16,5 9 3 22,2 3 3 36,4 8 8 75,145 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 9, 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 854,57 6 40,2 3 9 342,0 0 6 34,0 6 8 34,7 8 2 64,4 2 2 73,1 4 2 72,6 6 8 24,8 6 6 16,3 7 7 24,5 5 9 40,4 7 9 86,969 Less: notes held by F.R. Banks 137,61 6 4,7 9 7 43,4 0 0 8,0 8 9 5,1 1 0 12,1 6 7 17,8 5 2 9,2 0 3 2,6 4 8 1,9 5 3 4,5 1 7 6,8 3 6 21,045 Federal Reserve notes, net 716,96 1 35,4 4 2 298,6 0 6 25,9 8 0 29,6 7 2 52,2 5 4 55,2 9 0 63,4 6 5 22,2 1 8 14,4 2 5 20,0 4 2 33,6 4 3 65,924 Reverse repurchase agreements1 28,35 5 1,3 3 1 12,2 9 5 8 4 3 1,2 1 2 2,1 5 5 1,9 1 2 2,5 5 4 8 3 3 6 1 8 7 4 5 1,2 9 3 2,563 Deposits 20,09 7 1,1 6 1 7,3 7 9 7 6 8 1,0 1 3 2,3 0 0 1,5 3 7 1,5 2 1 5 6 8 4 6 2 6 3 7 6 5 6 2,095 Depository institutions 14,97 9 1,1 4 6 2,4 0 8 7 6 6 1,0 0 8 2,1 9 3 1,5 3 5 1,5 1 8 5 6 6 4 6 1 6 3 6 6 5 3 2,090 U.S. Treasury, general account 4,74 7 0 4,7 4 7 0 0 0 0 0 0 0 0 0 0 Foreign official 8 5 5 5 7 1 4 7 2 3 1 1 1 0 4 Other 28 7 1 0 1 6 8 2 0 1 0 0 0 0 2 0 1 3 0 Deferred availability cash items 8,37 4 6 9 9 9 0 0 6 3 1 8 8 9 6 0 3 9 0 0 4 7 9 1 6 5 4 8 9 4 0 0 4 6 6 1,753 Other liabilities and accrued dividends2 2,93 0 1 6 2 1,0 2 4 1 0 2 1 5 8 2 7 8 2 3 4 2 7 9 1 1 3 9 1 9 6 1 4 7 244 Total liabilities 776,71 7 38,7 9 5 320,2 0 4 28,3 2 5 32,9 4 3 57,5 9 1 59,8 7 2 68,2 9 8 23,8 9 8 16,0 8 5 21,9 2 1 36,2 0 5 72,579 Capital Capital paid in 12,43 8 1,6 3 8 3,4 3 1 2 9 8 1,0 9 1 2,5 3 8 4 2 6 7 8 7 4 0 0 2 5 3 1 5 4 1 3 5 1,287 Surplus 10,90 6 9 0 1 3,4 3 0 2 9 4 8 3 8 2,1 0 7 5 1 6 7 6 3 2 3 6 2 5 4 1 5 3 1 3 5 1,279 Other capital 20 1 2 8 3 4 0 0 2 3 3 3 3 7 0 6 1 2 0 Total liabilities and capital 800,26 3 41,3 3 7 327,1 4 8 28,9 2 1 34,8 7 2 62,2 3 6 60,8 3 7 69,8 8 1 24,5 7 0 16,5 9 3 22,2 3 3 36,4 8 8 75,145 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 9, 2005 Federal Reserve notes outstanding 854,576 Less: Notes held by F.R. Banks not subject to collateralization 137,616 Federal Reserve notes to be collateralized 716,961 Collateral held against Federal Reserve notes 716,961 Gold certificate account 11,038 Special drawing rights certificate account 2,200 U.S. Treasury and agency securities pledged1 703,723 Other assets pledged 0 Memo: Total U.S. Treasury and agency securities1 732,379 Less: face value of securities under reverse repurchase agreements 28,374 U.S. Treasury and agency securities eligible to be pledged 704,005 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.