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 17, 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 16, 2005 Feb 9, 2005 Feb 18, 2004 Feb 16, 2005 Reserve Bank credit 783,703 + 7,100 + 44,014 776,092 Securities held outright 717,866 - 20 + 47,749 717,859 U.S. Treasury1 717,866 - 20 + 47,749 717,859 Bills2 263,005 0 + 17,099 263,005 Notes and bonds, nominal2 433,429 0 + 24,826 433,429 Notes and bonds, inflation-indexed2 19,108 0 + 5,114 19,108 Inflation compensation3 2,324 - 19 + 711 2,316 Federal agency2 0 0 0 0 Repurchase agreements4 23,929 + 7,786 - 4,500 18,500 Loans to depository institutions 23 - 14 0 27 Primary credit 9 - 13 - 2 7 Secondary credit 0 0 0 0 Seasonal credit 14 - 1 + 3 19 Float 412 + 96 + 685 844 Other Federal Reserve assets 41,473 - 748 + 79 38,863 Gold stock 11,042 0 - 1 11,042 Special drawing rights certificate account 2,200 0 0 2,200 Treasury currency outstanding5 36,518 + 14 + 910 36,518 Total factors supplying reserve funds 833,464 + 7,114 + 44,924 825,852 Currency in circulation5 751,170 + 963 + 35,054 752,789 Reverse repurchase agreements6 27,044 + 429 + 4,207 23,346 Foreign official and international accounts 27,044 + 429 + 4,207 23,346 Dealers 0 0 0 0 Treasury cash holdings 280 - 10 - 54 270 Deposits with F.R. Banks, other than reserve balances 15,073 + 7 - 1,633 15,164 U.S. Treasury, general account 4,924 + 11 - 60 5,010 Foreign official 82 - 7 + 2 85 Service-related 9,772 0 - 1,551 9,772 Required clearing balances 9,772 0 - 1,165 9,772 Adjustments to compensate for float 0 0 - 386 0 Other 296 + 4 - 23 297 Other liabilities and capital 26,950 + 247 + 6,212 26,967 Total factors, other than reserve balances, absorbing reserve funds 820,518 + 1,637 + 43,787 818,536 Reserve balances with Federal Reserve Banks 12,946 + 5,477 + 1,137 7,316 Memo (off-balance-sheet items): Marketable securities held in custody for foreign official and international accounts2,7 1,342,279 + 2,043 + 207,756 1,353,202 U.S. Treasury 1,057,047 + 3,379 + 156,277 1,069,207 Federal agency 285,232 - 1,335 + 51,479 283,995 Securities lent to dealers 3,441 + 1,177 + 1,688 8,247 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 16, 2005 Feb 9, 2005 Feb 18, 2004 Assets Gold certificate account 11,038 0 0 Special drawing rights certificate account 2,200 0 0 Coin 828 - 3 - 53 Securities, repurchase agreements, and loans 736,385 + 3,977 + 42,079 Securities held outright 717,859 - 20 + 47,073 U.S. Treasury1 717,859 - 20 + 47,073 Bills2 263,005 0 + 16,950 Notes and bonds, nominal2 433,429 0 + 24,305 Notes and bonds, inflation-indexed2 19,108 0 + 5,114 Inflation compensation3 2,316 - 20 + 704 Federal agency2 0 0 0 Repurchase agreements4 18,500 + 4,000 - 5,000 Loans 27 - 3 + 7 Items in process of collection (891) 8,003 - 2,309 - 4,493 Bank premises 1,783 0 + 137 Other assets5 37,049 - 3,320 - 35 Total assets (891) 797,286 - 1,656 + 37,635 Liabilities Federal Reserve notes, net of F.R. Bank holdings 717,365 + 404 + 35,122 Reverse repurchase agreements6 23,346 - 5,009 + 3,395 Deposits (0) 22,459 + 2,362 - 3,872 Depository institutions 17,067 + 2,088 - 3,871 U.S. Treasury, general account 5,010 + 263 + 6 Foreign official 85 0 + 3 Other (0) 297 + 10 - 11 Deferred availability cash items (891) 7,149 + 96 - 3,657 Other liabilities and accrued dividends7 2,926 - 4 + 682 Total liabilities (891) 773,245 - 2,151 + 31,670 Capital accounts Capital paid in 12,444 + 6 + 3,546 Surplus 11,029 + 123 + 2,182 Other capital accounts 568 + 367 + 236 Total capital 24,041 + 495 + 5,965 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 16, 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 27 57,692 + 2,933 0 0 18,500 23,346 16 days to 90 days 0 161,489 + 3,885 0 0 0 0 91 days to 1 year 0 158,651 - 8,538 0 0 . . . . . . Over 1 year to 5 years . . . 212,802 + 5,055 0 0 . . . . . . Over 5 years to 10 years . . . 47,225 - 4,557 0 0 . . . . . . Over 10 years . . . 80,000 + 1,203 0 0 . . . . . . All 27 717,859 - 20 0 0 18,500 23,346 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 16, 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 2 8 2 3 5 3 6 4 6 2 7 8 9 1 1 2 3 3 5 2 6 5 6 8 6 132 Securities, repurchase agreements, and loans 736,3 8 5 33,7 1 0 329,7 7 3 21,3 5 9 30,6 7 4 54,5 6 0 48,4 1 1 64,6 7 3 21,0 9 0 15,6 6 4 18,8 6 5 32,7 3 1 64,876 Securities held outright 717,8 5 9 33,7 0 9 311,2 7 3 21,3 5 1 30,6 7 4 54,5 6 0 48,4 1 1 64,6 6 4 21,0 9 0 15,6 5 7 18,8 6 4 32,7 3 1 64,875 U.S. Treasury1 717,8 5 9 33,7 0 9 311,2 7 3 21,3 5 1 30,6 7 4 54,5 6 0 48,4 1 1 64,6 6 4 21,0 9 0 15,6 5 7 18,8 6 4 32,7 3 1 64,875 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 5 4 21,3 5 9 197,2 3 1 13,5 2 8 19,4 3 6 34,5 7 1 30,6 7 4 40,9 7 2 13,3 6 3 9,9 2 1 11,9 5 3 20,7 3 9 41,106 Federal agency2 0 0 0 0 0 0 0 0 0 0 0 0 0 Repurchase agreements4 18,5 0 0 0 18,5 0 0 0 0 0 0 0 0 0 0 0 0 Loans 2 7 1 0 8 0 0 0 9 0 6 1 0 1 Items in process of collection 8,8 9 4 6 3 8 4 7 6 3 4 8 9 7 7 3 9 8 1,8 2 6 3 4 5 3 3 0 4 3 4 5 7 2 3 7 0 2,180 Bank premises 1,7 8 3 1 0 1 1 9 7 5 3 1 5 7 1 4 3 2 7 6 1 6 5 6 3 1 2 2 8 2 2 5 6 167 Other assets5 37,0 4 9 3,2 6 1 14,3 3 1 9 8 9 2,5 1 8 4,9 5 7 1,8 7 7 2,5 2 8 8 6 0 7 5 3 6 3 1 8 6 1 3,482 Interdistrict settlement account 0 + 2,8 1 8 -26,5 7 8 + 6,5 3 7 + 8 5 6 + 9 8 7 + 8,1 4 8 + 3 0 8 + 1,6 1 0 - 8 3 0 + 1,5 0 1 + 1,4 3 0 + 3,213 Total assets 798,1 7 7 41,1 6 1 323,7 7 4 29,8 1 6 35,8 0 0 62,0 8 9 61,6 8 8 69,2 7 8 24,3 8 4 16,4 1 7 22,0 7 5 36,3 5 6 75,339 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 16, 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 856,08 7 40,2 0 7 341,2 7 8 35,1 6 6 35,4 4 3 64,3 5 7 73,7 0 7 72,3 5 3 24,8 0 3 16,3 6 0 24,4 7 2 40,4 9 2 87,449 Less: notes held by F.R. Banks 138,72 2 4,7 7 1 44,4 2 3 8,0 7 9 5,1 3 4 12,3 0 6 18,3 7 5 9,0 3 0 2,7 1 9 1,9 9 9 4,4 5 8 6,7 5 1 20,677 Federal Reserve notes, net 717,36 5 35,4 3 6 296,8 5 6 27,0 8 7 30,3 0 9 52,0 5 1 55,3 3 2 63,3 2 2 22,0 8 3 14,3 6 1 20,0 1 4 33,7 4 2 66,772 Reverse repurchase agreements1 23,34 6 1,0 9 6 10,1 2 3 6 9 4 9 9 8 1,7 7 4 1,5 7 4 2,1 0 3 6 8 6 5 0 9 6 1 3 1,0 6 4 2,110 Deposits 22,45 9 1,2 2 9 7,7 8 5 8 0 7 1,7 7 7 2,7 8 1 2,2 8 0 1,4 6 9 6 1 4 3 8 1 6 2 0 7 1 5 2,003 Depository institutions 17,06 7 1,2 1 1 2,5 4 1 8 0 6 1,7 7 2 2,6 7 7 2,2 7 8 1,4 6 5 6 0 7 3 8 0 6 1 8 7 1 4 1,998 U.S. Treasury, general account 5,01 0 0 5,0 1 0 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 29 7 1 3 1 7 7 0 1 9 7 0 1 6 0 1 1 1 Deferred availability cash items 8,04 0 6 5 2 8 5 5 5 1 2 5 9 2 5 0 6 1,2 8 8 4 8 3 2 0 0 5 5 6 4 1 4 3 9 6 1,586 Other liabilities and accrued dividends2 2,92 6 1 6 4 1,0 3 7 1 0 4 1 5 9 2 7 0 2 2 5 2 7 6 1 1 4 9 1 9 5 1 4 6 246 Total liabilities 774,13 6 38,5 7 7 316,6 5 5 29,2 0 3 33,8 3 5 57,3 8 3 60,6 9 8 67,6 5 3 23,6 9 7 15,8 9 9 21,7 5 6 36,0 6 3 72,716 Capital Capital paid in 12,44 4 1,6 3 8 3,4 3 1 2 9 8 1,0 9 3 2,5 3 8 4 2 6 7 8 7 4 0 1 2 5 3 1 5 4 1 3 6 1,288 Surplus 11,02 9 9 4 5 3,4 3 0 2 9 4 8 7 3 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 56 8 0 2 5 8 2 1 0 2 0 4 7 7 5 5 0 1 0 1 3 2 2 52 Total liabilities and capital 798,17 7 41,1 6 1 323,7 7 4 29,8 1 6 35,8 0 0 62,0 8 9 61,6 8 8 69,2 7 8 24,3 8 4 16,4 1 7 22,0 7 5 36,3 5 6 75,339 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 16, 2005 Federal Reserve notes outstanding 856,087 Less: Notes held by F.R. Banks not subject to collateralization 138,722 Federal Reserve notes to be collateralized 717,365 Collateral held against Federal Reserve notes 717,365 Gold certificate account 11,038 Special drawing rights certificate account 2,200 U.S. Treasury and agency securities pledged1 704,127 Other assets pledged 0 Memo: Total U.S. Treasury and agency securities1 736,359 Less: face value of securities under reverse repurchase agreements 23,361 U.S. Treasury and agency securities eligible to be pledged 712,998 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.