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 March 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 Mar 2, 2005 Feb 23, 2005 Mar 3, 2004 Mar 2, 2005 Reserve Bank credit 784,887 + 4,120 + 48,292 780,946 Securities held outright 717,686 - 159 + 46,100 717,495 U.S. Treasury1 717,686 - 159 + 46,100 717,495 Bills2 263,005 0 + 16,805 263,005 Notes and bonds, nominal2 433,286 - 143 + 23,502 433,096 Notes and bonds, inflation-indexed2 19,108 0 + 5,114 19,108 Inflation compensation3 2,286 - 17 + 678 2,286 Federal agency2 0 0 0 0 Repurchase agreements4 26,571 + 2,607 + 285 24,250 Loans to depository institutions 81 + 60 + 57 325 Primary credit 64 + 59 + 61 306 Secondary credit 0 0 0 0 Seasonal credit 17 + 1 - 4 20 Float 937 + 1,255 + 787 -655 Other Federal Reserve assets 39,612 + 357 + 1,063 39,531 Gold stock 11,042 0 - 3 11,042 Special drawing rights certificate account 2,200 0 0 2,200 Treasury currency outstanding5 36,546 + 14 + 897 36,546 Total factors supplying reserve funds 834,675 + 4,133 + 49,186 830,734 Currency in circulation5 751,863 - 1,394 + 38,474 752,653 Reverse repurchase agreements6 24,390 + 533 + 3,781 25,375 Foreign official and international accounts 24,390 + 533 + 3,781 25,375 Dealers 0 0 0 0 Treasury cash holdings 263 - 6 - 54 257 Deposits with F.R. Banks, other than reserve balances 14,237 - 63 - 1,994 13,961 U.S. Treasury, general account 5,199 - 51 - 419 4,906 Foreign official 83 + 2 - 8 83 Service-related 8,672 0 - 1,535 8,672 Required clearing balances 8,672 + 1 - 1,406 8,672 Adjustments to compensate for float 0 0 - 128 0 Other 283 - 13 - 33 301 Other liabilities and capital 27,580 + 145 + 7,613 27,245 Total factors, other than reserve balances, absorbing reserve funds 818,333 - 786 + 47,820 819,492 Reserve balances with Federal Reserve Banks 16,342 + 4,919 + 1,366 11,242 Memo (off-balance-sheet items): Marketable securities held in custody for foreign official and international accounts2,7 1,378,687 + 13,982 + 227,007 1,381,253 U.S. Treasury 1,079,753 + 2,396 + 163,255 1,079,920 Federal agency 298,934 + 11,587 + 63,752 301,333 Securities lent to dealers 2,003 - 963 + 599 2,669 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 Mar 2, 2005 Feb 23, 2005 Mar 3, 2004 Assets Gold certificate account 11,037 - 1 - 4 Special drawing rights certificate account 2,200 0 0 Coin 793 - 17 - 74 Securities, repurchase agreements, and loans 742,071 - 1,043 + 46,663 Securities held outright 717,495 - 344 + 45,863 U.S. Treasury1 717,495 - 344 + 45,863 Bills2 263,005 0 + 16,765 Notes and bonds, nominal2 433,096 - 333 + 23,312 Notes and bonds, inflation-indexed2 19,108 0 + 5,114 Inflation compensation3 2,286 - 11 + 673 Federal agency2 0 0 0 Repurchase agreements4 24,250 - 1,000 + 500 Loans 325 + 301 + 299 Items in process of collection (1,423) 7,379 - 2,276 - 675 Bank premises 1,791 + 7 + 142 Other assets5 37,715 + 44 + 1,170 Total assets (1,423) 802,986 - 3,286 + 47,223 Liabilities Federal Reserve notes, net of F.R. Bank holdings 717,152 - 1,219 + 36,922 Reverse repurchase agreements6 25,375 + 1,901 + 6,489 Deposits (0) 25,177 - 3,168 - 3,024 Depository institutions 19,888 - 3,614 - 3,199 U.S. Treasury, general account 4,906 + 419 + 208 Foreign official 83 + 2 + 1 Other (0) 301 + 26 - 34 Deferred availability cash items (1,423) 8,036 - 745 - 644 Other liabilities and accrued dividends7 3,033 + 22 + 813 Total liabilities (1,423) 778,774 - 3,208 + 40,557 Capital accounts Capital paid in 12,522 + 14 + 3,556 Surplus 11,125 + 11 + 2,617 Other capital accounts 565 - 103 + 493 Total capital 24,213 - 77 + 6,666 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, March 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 306 47,997 - 8,855 0 0 24,250 25,375 16 days to 90 days 20 170,674 + 7,490 0 0 0 0 91 days to 1 year 0 158,827 + 1,032 0 0 . . . . . . Over 1 year to 5 years . . . 212,790 - 4 0 0 . . . . . . Over 5 years to 10 years . . . 50,277 - 2 0 0 . . . . . . Over 10 years . . . 76,929 - 5 0 0 . . . . . . All 325 717,495 - 344 0 0 24,250 25,375 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 March 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 7 4 9 4 4,6 4 7 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 7 9 3 2 2 5 2 6 1 5 9 7 0 8 2 1 2 6 3 7 2 5 5 4 7 9 128 Securities, repurchase agreements, and loans 742,0 7 1 33,6 9 2 335,3 6 5 21,3 4 0 30,9 5 4 54,5 3 3 48,3 8 6 64,6 3 9 21,0 7 9 15,6 6 1 18,8 5 6 32,7 1 5 64,851 Securities held outright 717,4 9 5 33,6 9 2 311,1 1 5 21,3 4 0 30,6 5 9 54,5 3 3 48,3 8 6 64,6 3 1 21,0 7 9 15,6 4 9 18,8 5 5 32,7 1 4 64,842 U.S. Treasury1 717,4 9 5 33,6 9 2 311,1 1 5 21,3 4 0 30,6 5 9 54,5 3 3 48,3 8 6 64,6 3 1 21,0 7 9 15,6 4 9 18,8 5 5 32,7 1 4 64,842 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 454,4 9 0 21,3 4 2 197,0 7 3 13,5 1 8 19,4 2 0 34,5 4 3 30,6 5 0 40,9 4 0 13,3 5 2 9,9 1 3 11,9 4 3 20,7 2 3 41,074 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 3 2 5 0 0 0 2 9 5 0 0 9 0 1 1 1 1 9 Items in process of collection 8,8 0 2 4 6 3 6 9 9 3 5 0 9 0 9 5 2 3 9 4 2 7 7 7 3 8 2 4 4 0 7 0 0 4 7 6 2,141 Bank premises 1,7 9 1 1 0 1 1 9 8 5 3 1 5 6 1 4 3 2 7 5 1 7 0 6 4 1 2 2 8 2 2 5 9 166 Other assets5 37,7 1 5 3,3 1 0 14,5 7 9 1,0 0 6 2,5 5 0 5,0 2 9 1,9 4 7 2,5 8 4 8 7 3 7 6 9 6 4 5 8 8 0 3,543 Interdistrict settlement account 0 + 3,0 8 2 -26,6 3 0 + 6,4 1 6 - 4 6 + 1,6 8 4 + 7,2 1 9 + 5 9 3 + 1,3 1 9 - 7 9 7 + 1,7 1 7 + 9 8 6 + 4,457 Total assets 804,4 0 9 41,2 7 8 329,7 8 5 29,6 9 1 35,1 3 9 62,9 4 8 59,9 1 1 70,0 2 5 24,1 5 0 16,4 6 7 22,4 2 0 36,0 1 9 76,575 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 March 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 855,31 9 40,1 0 8 340,8 2 3 35,1 2 0 35,5 3 0 65,0 7 7 73,1 8 2 72,6 0 3 24,7 4 3 16,3 3 7 24,3 7 0 40,3 1 5 87,111 Less: notes held by F.R. Banks 138,16 6 4,7 3 3 43,0 2 1 7,9 4 5 5,3 6 7 12,3 2 0 19,5 6 3 9,0 8 2 2,8 6 5 1,9 8 1 4,2 9 4 6,9 6 8 20,028 Federal Reserve notes, net 717,15 2 35,3 7 6 297,8 0 2 27,1 7 5 30,1 6 3 52,7 5 7 53,6 1 9 63,5 2 0 21,8 7 8 14,3 5 6 20,0 7 6 33,3 4 7 67,083 Reverse repurchase agreements1 25,37 5 1,1 9 2 11,0 0 3 7 5 5 1,0 8 4 1,9 2 9 1,7 1 1 2,2 8 6 7 4 5 5 5 3 6 6 7 1,1 5 7 2,293 Deposits 25,17 7 1,2 5 4 11,6 5 9 5 8 2 8 8 3 2,5 4 5 2,1 3 2 1,6 3 6 4 8 0 3 5 4 7 3 2 6 4 1 2,277 Depository institutions 19,88 8 1,2 4 5 6,5 2 9 5 8 1 8 7 9 2,4 1 7 2,1 3 0 1,6 3 3 4 7 6 3 5 3 7 3 0 6 4 0 2,272 U.S. Treasury, general account 4,90 6 0 4,9 0 6 0 0 0 0 0 0 0 0 0 0 Foreign official 8 3 5 5 5 1 4 7 2 3 1 1 1 0 4 Other 30 1 3 1 6 9 0 0 1 2 1 0 0 3 0 1 1 0 Deferred availability cash items 9,45 9 7 3 6 1,0 9 9 4 6 9 8 3 0 6 2 9 1,2 4 0 6 9 3 2 1 7 5 9 6 5 3 2 4 3 4 1,986 Other liabilities and accrued dividends2 3,03 3 1 7 0 1,0 7 1 1 0 6 1 6 5 2 9 1 2 2 7 2 9 0 1 1 7 9 1 9 8 1 4 9 256 Total liabilities 780,19 6 38,7 2 7 322,6 3 4 29,0 8 7 33,1 2 5 58,1 5 1 58,9 2 9 68,4 2 6 23,4 3 7 15,9 5 2 22,1 0 5 35,7 2 9 73,895 Capital Capital paid in 12,52 2 1,5 5 4 3,4 9 1 2 9 9 1,0 9 8 2,5 3 9 4 2 8 7 8 6 4 0 3 2 5 3 1 5 5 1 4 3 1,372 Surplus 11,12 5 9 9 7 3,4 3 0 2 9 4 9 1 6 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 5 0 2 3 1 1 1 0 1 1 0 3 8 5 0 7 4 8 7 1 2 26 Total liabilities and capital 804,40 9 41,2 7 8 329,7 8 5 29,6 9 1 35,1 3 9 62,9 4 8 59,9 1 1 70,0 2 5 24,1 5 0 16,4 6 7 22,4 2 0 36,0 1 9 76,575 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 Mar 2, 2005 Federal Reserve notes outstanding 855,319 Less: Notes held by F.R. Banks not subject to collateralization 138,166 Federal Reserve notes to be collateralized 717,152 Collateral held against Federal Reserve notes 717,152 Gold certificate account 11,037 Special drawing rights certificate account 2,200 U.S. Treasury and agency securities pledged1 703,915 Other assets pledged 0 Memo: Total U.S. Treasury and agency securities1 741,745 Less: face value of securities under reverse repurchase agreements 25,393 U.S. Treasury and agency securities eligible to be pledged 716,352 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.