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 April 7, 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 Apr 6, 2005 Mar 30, 2005 Apr 7, 2004 Apr 6, 2005 Reserve Bank credit 783,431 + 1,107 + 49,879 778,002 Securities held outright 717,341 - 191 + 43,140 717,351 U.S. Treasury1 717,341 - 191 + 43,140 717,351 Bills2 263,005 0 + 16,361 263,005 Notes and bonds, nominal2 432,885 - 211 + 21,497 432,885 Notes and bonds, inflation-indexed2 19,108 0 + 4,644 19,108 Inflation compensation3 2,342 + 20 + 637 2,352 Federal agency2 0 0 0 0 Repurchase agreements4 25,143 + 500 + 5,572 20,000 Loans to depository institutions 69 + 10 - 4 65 Primary credit 12 - 1 - 24 2 Secondary credit 0 0 0 0 Seasonal credit 57 + 11 + 20 63 Float 254 + 778 + 753 -70 Other Federal Reserve assets 40,624 + 10 + 419 40,655 Gold stock 11,041 0 - 4 11,041 Special drawing rights certificate account 2,200 0 0 2,200 Treasury currency outstanding5 36,560 + 14 + 782 36,560 Total factors supplying reserve funds 833,232 + 1,121 + 50,657 827,803 Currency in circulation5 754,525 + 1,488 + 38,276 755,891 Reverse repurchase agreements6 23,115 - 1,564 + 3,716 22,986 Foreign official and international accounts 23,115 - 1,564 + 3,716 22,986 Dealers 0 0 0 0 Treasury cash holdings 283 + 8 - 80 277 Deposits with F.R. Banks, other than reserve balances 15,248 + 1,606 - 771 14,426 U.S. Treasury, general account 5,296 + 704 + 286 4,530 Foreign official 111 + 28 + 18 82 Service-related 9,514 + 781 - 1,053 9,514 Required clearing balances 9,514 + 782 - 1,048 9,514 Adjustments to compensate for float 0 0 - 5 0 Other 326 + 91 - 22 300 Other liabilities and capital 27,862 + 176 + 7,031 27,738 Total factors, other than reserve balances, absorbing reserve funds 821,033 + 1,714 + 48,172 821,318 Reserve balances with Federal Reserve Banks 12,199 - 593 + 2,485 6,485 Memo (off-balance-sheet items): Marketable securities held in custody for foreign official and international accounts2,7 1,390,019 - 1,661 + 213,965 1,390,159 U.S. Treasury 1,081,816 - 3,232 + 140,176 1,081,265 Federal agency 308,203 + 1,571 + 73,788 308,894 Securities lent to dealers 2,979 - 297 + 1,035 1,562 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 Apr 6, 2005 Mar 30, 2005 Apr 7, 2004 Assets Gold certificate account 11,037 0 - 4 Special drawing rights certificate account 2,200 0 0 Coin 720 + 7 - 124 Securities, repurchase agreements, and loans 737,417 - 11,931 + 43,294 Securities held outright 717,351 - 185 + 43,057 U.S. Treasury1 717,351 - 185 + 43,057 Bills2 263,005 0 + 16,276 Notes and bonds, nominal2 432,885 - 211 + 21,497 Notes and bonds, inflation-indexed2 19,108 0 + 4,644 Inflation compensation3 2,352 + 26 + 639 Federal agency2 0 0 0 Repurchase agreements4 20,000 - 11,750 + 250 Loans 65 + 3 - 14 Items in process of collection (768) 7,349 + 1,820 + 989 Bank premises 1,802 - 4 + 144 Other assets5 38,646 - 85 - 88 Total assets (768) 799,170 - 10,195 + 44,210 Liabilities Federal Reserve notes, net of F.R. Bank holdings 720,324 + 636 + 36,546 Reverse repurchase agreements6 22,986 - 705 + 3,914 Deposits (14) 20,703 - 11,080 - 4,179 Depository institutions 15,791 - 10,458 - 4,095 U.S. Treasury, general account 4,530 - 668 - 31 Foreign official 82 - 20 - 14 Other (14) 300 + 65 - 38 Deferred availability cash items (754) 7,419 + 890 + 719 Other liabilities and accrued dividends7 3,231 + 6 + 998 Total liabilities (768) 774,664 - 10,252 + 37,999 Capital accounts Capital paid in 12,585 + 26 + 3,603 Surplus 11,165 - 12 + 2,318 Other capital accounts 757 + 43 + 291 Total capital 24,507 + 58 + 6,212 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, April 6, 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 10 47,012 - 7,839 0 0 20,000 22,986 16 days to 90 days 56 170,291 + 7,594 0 0 0 0 91 days to 1 year 0 160,318 + 368 0 0 . . . . . . Over 1 year to 5 years . . . 212,482 - 324 0 0 . . . . . . Over 5 years to 10 years . . . 50,289 + 5 0 0 . . . . . . Over 10 years . . . 76,959 + 12 0 0 . . . . . . All 65 717,351 - 185 0 0 20,000 22,986 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 April 6, 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 2 0 2 2 4 7 6 5 5 4 5 8 7 1 1 1 9 3 3 2 8 4 8 6 2 112 Securities, repurchase agreements, and loans 737,4 1 7 33,6 8 7 331,0 5 5 21,3 3 6 30,6 5 3 54,5 2 2 48,3 7 6 64,6 5 4 21,0 7 9 15,6 6 5 18,8 5 2 32,7 0 9 64,829 Securities held outright 717,3 5 1 33,6 8 5 311,0 5 3 21,3 3 6 30,6 5 3 54,5 2 2 48,3 7 6 64,6 1 8 21,0 7 5 15,6 4 6 18,8 5 1 32,7 0 8 64,829 U.S. Treasury1 717,3 5 1 33,6 8 5 311,0 5 3 21,3 3 6 30,6 5 3 54,5 2 2 48,3 7 6 64,6 1 8 21,0 7 5 15,6 4 6 18,8 5 1 32,7 0 8 64,829 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 454,3 4 6 21,3 3 5 197,0 1 0 13,5 1 3 19,4 1 4 34,5 3 2 30,6 4 0 40,9 2 7 13,3 4 8 9,9 1 0 11,9 3 9 20,7 1 6 41,061 Federal agency2 0 0 0 0 0 0 0 0 0 0 0 0 0 Repurchase agreements4 20,0 0 0 0 20,0 0 0 0 0 0 0 0 0 0 0 0 0 Loans 6 5 3 2 0 0 0 0 3 6 4 1 9 2 1 0 Items in process of collection 8,1 1 7 3 9 6 4 5 0 4 2 8 6 3 7 6 6 2 1,2 7 5 3 6 1 2 4 6 3 6 1 5 5 9 3 6 3 2,380 Bank premises 1,8 0 2 1 0 3 2 0 0 5 3 1 5 7 1 4 3 2 7 5 1 7 5 6 1 1 2 2 8 3 2 6 4 166 Other assets5 38,6 4 6 3,3 0 4 15,0 6 0 1,0 7 3 2,5 5 1 5,0 4 4 2,0 3 7 2,6 7 9 8 9 2 7 8 7 6 7 4 9 4 0 3,605 Interdistrict settlement account 0 + 2,9 3 9 -25,3 4 9 + 7,0 8 3 + 4 3 9 + 2,6 2 4 + 5,6 1 0 + 7 6 0 + 1,2 6 9 - 6 9 4 + 1,2 0 4 + 4 6 6 + 3,651 Total assets 799,9 3 9 41,0 6 2 326,9 8 2 30,5 0 2 35,0 4 6 64,0 1 9 58,7 0 5 69,8 8 4 23,9 7 6 16,5 1 7 21,7 8 8 35,4 2 6 76,032 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 April 6, 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 854,07 6 40,0 5 4 338,8 9 7 35,6 9 4 35,4 6 7 65,4 7 5 73,2 1 5 72,8 4 2 24,7 0 4 16,3 3 2 24,3 0 0 40,1 1 2 86,984 Less: notes held by F.R. Banks 133,75 2 4,5 9 9 38,2 2 6 7,7 2 2 5,1 8 7 12,4 3 9 20,1 7 9 8,8 6 9 2,9 8 3 1,7 6 0 4,6 5 5 7,2 8 4 19,848 Federal Reserve notes, net 720,32 4 35,4 5 5 300,6 7 2 27,9 7 1 30,2 8 0 53,0 3 6 53,0 3 7 63,9 7 2 21,7 2 1 14,5 7 2 19,6 4 4 32,8 2 8 67,136 Reverse repurchase agreements1 22,98 6 1,0 7 9 9,9 6 7 6 8 4 9 8 2 1,7 4 7 1,5 5 0 2,0 7 1 6 7 5 5 0 1 6 0 4 1,0 4 8 2,077 Deposits 20,71 7 1,1 5 1 7,0 8 3 6 7 2 9 0 2 3,5 9 3 1,7 3 6 1,3 9 4 5 4 3 3 3 8 6 3 3 6 4 7 2,023 Depository institutions 15,79 1 1,1 4 2 2,3 3 4 6 7 0 8 8 4 3,4 6 2 1,7 3 4 1,3 9 1 5 3 9 3 3 7 6 3 2 6 4 6 2,019 U.S. Treasury, general account 4,53 0 0 4,5 3 0 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 31 4 4 1 6 6 0 1 4 1 2 4 0 0 3 0 1 1 0 Deferred availability cash items 8,17 3 6 2 2 9 5 4 4 5 9 6 6 7 4 8 2 1,1 6 8 4 8 7 1 5 1 4 9 7 4 9 0 4 4 3 1,753 Other liabilities and accrued dividends2 3,23 1 1 8 6 1,1 4 3 1 1 3 1 7 6 3 1 6 2 3 8 3 0 0 1 2 3 9 8 1 0 2 1 5 8 278 Total liabilities 775,43 2 38,4 9 4 319,8 2 0 29,8 9 9 33,0 0 8 59,1 7 4 57,7 2 9 68,2 2 4 23,2 1 3 16,0 0 6 21,4 7 4 35,1 2 4 73,267 Capital Capital paid in 12,58 5 1,5 5 4 3,5 0 2 3 0 0 1,0 9 9 2,5 4 0 4 2 8 8 1 7 4 0 5 2 5 4 1 5 5 1 4 7 1,383 Surplus 11,16 5 1,0 1 4 3,4 3 0 2 9 4 9 3 9 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 75 7 0 2 3 1 9 0 1 5 6 3 1 7 9 1 2 2 2 6 2 0 100 Total liabilities and capital 799,93 9 41,0 6 2 326,9 8 2 30,5 0 2 35,0 4 6 64,0 1 9 58,7 0 5 69,8 8 4 23,9 7 6 16,5 1 7 21,7 8 8 35,4 2 6 76,032 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 Apr 6, 2005 Federal Reserve notes outstanding 854,076 Less: Notes held by F.R. Banks not subject to collateralization 133,752 Federal Reserve notes to be collateralized 720,324 Collateral held against Federal Reserve notes 720,324 Gold certificate account 11,037 Special drawing rights certificate account 2,200 U.S. Treasury and agency securities pledged1 707,087 Other assets pledged 0 Memo: Total U.S. Treasury and agency securities1 737,351 Less: face value of securities under reverse repurchase agreements 23,004 U.S. Treasury and agency securities eligible to be pledged 714,347 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.