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 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 Mar 9, 2005 Mar 2, 2005 Mar 10, 2004 Mar 9, 2005 Reserve Bank credit 777,647 - 7,240 + 48,178 779,828 Securities held outright 717,502 - 184 + 44,910 717,505 U.S. Treasury1 717,502 - 184 + 44,910 717,505 Bills2 263,005 0 + 16,663 263,005 Notes and bonds, nominal2 433,096 - 190 + 22,533 433,096 Notes and bonds, inflation-indexed2 19,108 0 + 5,046 19,108 Inflation compensation3 2,292 + 6 + 667 2,296 Federal agency2 0 0 0 0 Repurchase agreements4 20,893 - 5,678 + 2,893 22,000 Loans to depository institutions 33 - 48 + 7 32 Primary credit 5 - 59 - 2 1 Secondary credit 0 0 0 0 Seasonal credit 29 + 12 + 10 31 Float -755 - 1,692 - 709 -646 Other Federal Reserve assets 39,974 + 362 + 1,078 40,937 Gold stock 11,042 0 - 3 11,042 Special drawing rights certificate account 2,200 0 0 2,200 Treasury currency outstanding5 36,504 + 14 + 824 36,504 Total factors supplying reserve funds 827,392 - 7,227 + 48,998 829,574 Currency in circulation5 751,529 - 278 + 37,788 752,889 Reverse repurchase agreements6 25,631 + 1,241 + 7,311 25,430 Foreign official and international accounts 25,631 + 1,241 + 7,311 25,430 Dealers 0 0 0 0 Treasury cash holdings 257 - 6 - 58 252 Deposits with F.R. Banks, other than reserve balances 14,220 - 17 - 2,729 14,521 U.S. Treasury, general account 4,304 - 895 - 1,223 4,599 Foreign official 83 0 - 11 82 Service-related 9,554 + 882 - 1,448 9,554 Required clearing balances 9,554 + 882 - 1,329 9,554 Adjustments to compensate for float 0 0 - 119 0 Other 279 - 4 - 48 286 Other liabilities and capital 27,841 + 261 + 7,634 27,836 Total factors, other than reserve balances, absorbing reserve funds 819,478 + 1,202 + 49,946 820,927 Reserve balances with Federal Reserve Banks 7,914 - 8,428 - 949 8,647 Memo (off-balance-sheet items): Marketable securities held in custody for foreign official and international accounts2,7 1,380,329 + 1,642 + 220,532 1,380,611 U.S. Treasury 1,080,352 + 599 + 154,678 1,081,558 Federal agency 299,977 + 1,043 + 65,854 299,053 Securities lent to dealers 1,700 - 303 - 810 736 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 9, 2005 Mar 2, 2005 Mar 10, 2004 Assets Gold certificate account 11,037 0 - 4 Special drawing rights certificate account 2,200 0 0 Coin 773 - 20 - 84 Securities, repurchase agreements, and loans 739,538 - 2,533 + 47,730 Securities held outright 717,505 + 10 + 44,466 U.S. Treasury1 717,505 + 10 + 44,466 Bills2 263,005 0 + 16,633 Notes and bonds, nominal2 433,096 0 + 22,533 Notes and bonds, inflation-indexed2 19,108 0 + 4,644 Inflation compensation3 2,296 + 10 + 657 Federal agency2 0 0 0 Repurchase agreements4 22,000 - 2,250 + 3,250 Loans 32 - 293 + 13 Items in process of collection (1,108) 6,549 - 830 + 392 Bank premises 1,793 + 2 + 142 Other assets5 39,115 + 1,400 + 1,983 Total assets (1,108) 801,005 - 1,981 + 50,160 Liabilities Federal Reserve notes, net of F.R. Bank holdings 717,406 + 254 + 36,934 Reverse repurchase agreements6 25,430 + 55 + 6,239 Deposits (0) 23,139 - 2,038 - 1,016 Depository institutions 18,173 - 1,715 - 1,105 U.S. Treasury, general account 4,599 - 307 + 184 Foreign official 82 - 1 - 56 Other (0) 286 - 15 - 38 Deferred availability cash items (1,108) 7,195 - 841 + 410 Other liabilities and accrued dividends7 3,109 + 76 + 853 Total liabilities (1,108) 776,279 - 2,495 + 43,420 Capital accounts Capital paid in 12,535 + 13 + 3,564 Surplus 11,216 + 91 + 2,535 Other capital accounts 975 + 410 + 641 Total capital 24,727 + 514 + 6,741 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 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 1 47,070 - 927 0 0 22,000 25,430 16 days to 90 days 31 171,518 + 844 0 0 0 0 91 days to 1 year 0 158,911 + 84 0 0 . . . . . . Over 1 year to 5 years . . . 212,794 + 4 0 0 . . . . . . Over 5 years to 10 years . . . 50,279 + 2 0 0 . . . . . . Over 10 years . . . 76,934 + 5 0 0 . . . . . . All 32 717,505 + 10 0 0 22,000 25,430 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 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 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 7 3 2 2 5 1 6 1 5 7 6 7 7 8 1 2 2 3 4 2 5 5 3 7 6 127 Securities, repurchase agreements, and loans 739,5 3 8 33,6 9 2 333,1 2 0 21,3 4 0 30,6 5 9 54,5 3 4 48,3 8 7 64,6 4 8 21,0 8 0 15,6 6 5 18,8 5 5 32,7 1 5 64,844 Securities held outright 717,5 0 5 33,6 9 2 311,1 2 0 21,3 4 0 30,6 5 9 54,5 3 4 48,3 8 7 64,6 3 2 21,0 8 0 15,6 5 0 18,8 5 5 32,7 1 5 64,843 U.S. Treasury1 717,5 0 5 33,6 9 2 311,1 2 0 21,3 4 0 30,6 5 9 54,5 3 4 48,3 8 7 64,6 3 2 21,0 8 0 15,6 5 0 18,8 5 5 32,7 1 5 64,843 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 454,5 0 0 21,3 4 2 197,0 7 7 13,5 1 8 19,4 2 1 34,5 4 4 30,6 5 0 40,9 4 1 13,3 5 3 9,9 1 3 11,9 4 3 20,7 2 3 41,075 Federal agency2 0 0 0 0 0 0 0 0 0 0 0 0 0 Repurchase agreements4 22,0 0 0 0 22,0 0 0 0 0 0 0 0 0 0 0 0 0 Loans 3 2 0 0 0 0 0 0 1 6 0 1 5 0 0 1 Items in process of collection 7,6 5 7 6 5 0 8 1 1 4 0 3 7 5 1 4 2 3 8 4 6 5 5 0 3 0 3 3 4 5 5 8 5 -3 5 1 2,340 Bank premises 1,7 9 3 1 0 2 1 9 8 5 3 1 5 7 1 4 3 2 7 5 1 7 0 6 4 1 2 2 8 2 2 6 0 166 Other assets5 39,1 1 5 3,3 6 2 14,8 1 2 1,0 2 4 2,5 9 8 5,1 1 2 1,9 9 6 2,6 3 2 8 9 0 7 8 5 6 5 8 1,6 5 1 3,594 Interdistrict settlement account 0 + 2,9 3 0 -25,4 0 2 + 6,7 2 0 + 2 5 5 + 1,7 6 7 + 6,5 0 2 + 5 1 4 + 1,4 1 2 - 7 8 5 + 1,3 5 2 + 7 1 9 + 4,017 Total assets 802,1 1 4 41,3 6 8 329,1 1 2 30,0 6 5 35,0 3 3 63,0 1 2 59,1 4 4 69,7 7 2 24,1 7 8 16,4 0 6 21,9 5 3 35,6 9 1 76,378 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 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 855,11 5 40,1 5 7 340,6 3 9 35,2 5 6 35,5 4 2 65,2 6 3 72,9 3 0 72,5 8 8 24,7 3 9 16,3 7 2 24,3 1 8 40,3 1 2 87,000 Less: notes held by F.R. Banks 137,70 9 4,7 6 7 42,2 1 6 7,9 0 0 5,2 8 3 12,2 9 9 19,3 6 8 9,0 5 6 2,8 5 9 1,9 4 9 4,5 8 7 7,2 4 8 20,178 Federal Reserve notes, net 717,40 6 35,3 8 9 298,4 2 3 27,3 5 6 30,2 5 9 52,9 6 4 53,5 6 2 63,5 3 3 21,8 8 0 14,4 2 3 19,7 3 1 33,0 6 4 66,822 Reverse repurchase agreements1 25,43 0 1,1 9 4 11,0 2 7 7 5 6 1,0 8 7 1,9 3 3 1,7 1 5 2,2 9 1 7 4 7 5 5 5 6 6 8 1,1 5 9 2,298 Deposits 23,13 9 1,1 2 7 10,3 4 7 6 1 5 9 7 5 2,3 0 5 1,5 0 6 1,4 9 9 5 4 9 3 5 0 6 4 8 7 0 2 2,516 Depository institutions 18,17 3 1,1 1 9 5,5 3 3 6 1 4 9 7 0 2,2 2 2 1,5 0 4 1,4 9 6 5 4 5 3 4 9 6 0 8 7 0 1 2,511 U.S. Treasury, general account 4,59 9 0 4,5 9 9 0 0 0 0 0 0 0 0 0 0 Foreign official 8 2 5 5 3 1 4 7 2 3 1 1 1 0 4 Other 28 6 3 1 6 2 0 1 7 6 0 0 3 0 3 9 1 0 Deferred availability cash items 8,30 3 8 7 3 9 4 7 6 1 2 4 8 5 6 3 0 1,1 1 8 5 1 6 1 5 2 4 5 9 4 8 1 3 0 4 1,727 Other liabilities and accrued dividends2 3,10 9 1 7 4 1,0 9 3 1 0 8 1 6 8 2 9 8 2 4 4 2 9 4 1 1 9 9 6 1 0 1 1 5 3 261 Total liabilities 777,38 7 38,7 5 8 321,8 3 6 29,4 4 7 32,9 7 3 58,1 2 9 58,1 4 6 68,1 3 3 23,4 4 7 15,8 8 3 21,6 2 9 35,3 8 2 73,625 Capital Capital paid in 12,53 5 1,5 5 4 3,4 9 1 2 9 9 1,0 9 8 2,5 3 9 4 2 8 7 9 8 4 0 3 2 5 4 1 5 5 1 4 3 1,372 Surplus 11,21 6 1,0 4 2 3,4 3 0 2 9 4 9 6 2 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 97 5 1 4 3 5 5 2 5 0 1 9 6 5 5 7 7 9 3 1 5 1 6 3 1 98 Total liabilities and capital 802,11 4 41,3 6 8 329,1 1 2 30,0 6 5 35,0 3 3 63,0 1 2 59,1 4 4 69,7 7 2 24,1 7 8 16,4 0 6 21,9 5 3 35,6 9 1 76,378 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 9, 2005 Federal Reserve notes outstanding 855,115 Less: Notes held by F.R. Banks not subject to collateralization 137,709 Federal Reserve notes to be collateralized 717,406 Collateral held against Federal Reserve notes 717,406 Gold certificate account 11,037 Special drawing rights certificate account 2,200 U.S. Treasury and agency securities pledged1 704,169 Other assets pledged 0 Memo: Total U.S. Treasury and agency securities1 739,505 Less: face value of securities under reverse repurchase agreements 25,448 U.S. Treasury and agency securities eligible to be pledged 714,057 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.