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 May 26, 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 May 25, 2005 May 18, 2005 May 26, 2004 May 25, 2005 Reserve Bank credit 786,594 - 965 + 42,926 791,892 Securities held outright 722,188 + 577 + 42,161 722,992 U.S. Treasury1 722,188 + 577 + 42,161 722,992 Bills2 264,353 + 69 + 13,953 264,515 Notes and bonds, nominal2 436,154 + 471 + 22,850 436,781 Notes and bonds, inflation-indexed2 19,108 0 + 4,644 19,108 Inflation compensation3 2,573 + 38 + 714 2,587 Federal agency2 0 0 0 0 Repurchase agreements4 26,357 - 214 + 250 31,000 Loans to depository institutions 150 + 8 + 32 149 Primary credit 8 + 6 + 4 3 Secondary credit 0 0 0 0 Seasonal credit 142 + 3 + 28 146 Float -787 + 472 - 565 -1,124 Other Federal Reserve assets 38,685 - 1,808 + 1,048 38,876 Gold stock 11,041 0 - 4 11,041 Special drawing rights certificate account 2,200 0 0 2,200 Treasury currency outstanding5 36,643 + 14 + 740 36,643 Total factors supplying reserve funds 836,479 - 951 + 43,663 841,777 Currency in circulation5 754,364 - 8 + 33,502 757,483 Reverse repurchase agreements6 25,780 - 2,274 + 6,589 25,186 Foreign official and international accounts 25,780 - 2,274 + 6,589 25,186 Dealers 0 0 0 0 Treasury cash holdings 262 + 7 - 68 275 Deposits with F.R. Banks, other than reserve balances 13,644 - 317 - 1,692 14,216 U.S. Treasury, general account 4,936 - 273 - 276 5,518 Foreign official 82 - 2 - 1 79 Service-related 8,341 0 - 1,446 8,341 Required clearing balances 8,341 0 - 1,446 8,341 Adjustments to compensate for float 0 0 0 0 Other 286 - 41 + 32 278 Other liabilities and capital 28,978 + 158 + 7,694 29,039 Total factors, other than reserve balances, absorbing reserve funds 823,027 - 2,435 + 46,023 826,200 Reserve balances with Federal Reserve Banks 13,451 + 1,483 - 2,361 15,577 Memo (off-balance-sheet items): Marketable securities held in custody for foreign official and international accounts2,7 1,410,843 + 6,759 + 200,226 1,423,013 U.S. Treasury 1,080,319 + 6,112 + 101,859 1,084,986 Federal agency 330,524 + 647 + 98,367 338,027 Securities lent to dealers 3,424 + 121 + 20 5,675 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 May 25, 2005 May 18, 2005 May 26, 2004 Assets Gold certificate account 11,037 0 - 4 Special drawing rights certificate account 2,200 0 0 Coin 633 - 23 - 108 Securities, repurchase agreements, and loans 754,141 + 8,621 + 39,630 Securities held outright 722,992 + 1,363 + 42,359 U.S. Treasury1 722,992 + 1,363 + 42,359 Bills2 264,515 + 227 + 14,076 Notes and bonds, nominal2 436,781 + 1,098 + 22,918 Notes and bonds, inflation-indexed2 19,108 0 + 4,644 Inflation compensation3 2,587 + 38 + 720 Federal agency2 0 0 0 Repurchase agreements4 31,000 + 7,250 - 2,750 Loans 149 + 8 + 21 Items in process of collection (761) 5,210 - 284 - 502 Bank premises 1,818 + 3 + 140 Other assets5 37,021 + 315 + 870 Total assets (761) 812,060 + 8,632 + 40,027 Liabilities Federal Reserve notes, net of F.R. Bank holdings 721,744 + 2,470 + 32,700 Reverse repurchase agreements6 25,186 - 993 + 5,855 Deposits (0) 29,757 + 6,900 - 6,716 Depository institutions 23,881 + 6,490 - 7,401 U.S. Treasury, general account 5,518 + 438 + 674 Foreign official 79 - 33 - 6 Other (0) 278 + 5 + 15 Deferred availability cash items (761) 6,334 - 3 + 342 Other liabilities and accrued dividends7 3,424 + 74 + 1,035 Total liabilities (761) 786,445 + 8,448 + 33,215 Capital accounts Capital paid in 12,859 - 50 + 3,764 Surplus 11,417 + 24 + 2,570 Other capital accounts 1,340 + 212 + 478 Total capital 25,615 + 184 + 6,811 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, May 25, 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 139 62,611 + 909 0 0 31,000 25,186 16 days to 90 days 10 153,140 - 28 0 0 0 0 91 days to 1 year 0 160,928 - 655 0 0 . . . . . . Over 1 year to 5 years . . . 215,344 + 1,064 0 0 . . . . . . Over 5 years to 10 years . . . 53,677 + 56 0 0 . . . . . . Over 10 years . . . 77,291 + 16 0 0 . . . . . . All 149 722,992 + 1,363 0 0 31,000 25,186 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 May 25, 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 5 1 0 4,3 5 5 4 3 2 4 5 3 8 3 6 9 4 5 9 2 8 3 2 7 2 1 2 3 1 8 5 4 9 1,172 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 6 3 3 2 3 3 5 4 9 5 0 4 6 7 9 1 1 5 3 4 2 1 4 4 4 8 89 Securities, repurchase agreements, and loans 754,1 4 1 36,9 9 0 317,6 9 1 25,6 4 8 30,5 4 3 55,1 7 6 55,9 3 8 65,1 8 2 22,4 5 0 15,1 3 4 20,4 6 2 35,6 1 1 73,314 Securities held outright 722,9 9 2 36,9 9 0 286,6 9 1 25,6 4 8 30,5 4 3 55,1 7 6 55,9 3 4 65,1 0 9 22,4 3 5 15,1 0 0 20,4 4 9 35,6 0 8 73,307 U.S. Treasury1 722,9 9 2 36,9 9 0 286,6 9 1 25,6 4 8 30,5 4 3 55,1 7 6 55,9 3 4 65,1 0 9 22,4 3 5 15,1 0 0 20,4 4 9 35,6 0 8 73,307 Bills2 264,5 1 5 13,5 3 3 104,8 8 9 9,3 8 4 11,1 7 4 20,1 8 7 20,4 6 4 23,8 2 1 8,2 0 8 5,5 2 5 7,4 8 2 13,0 2 8 26,820 Notes and bonds3 458,4 7 7 23,4 5 7 181,8 0 2 16,2 6 4 19,3 6 8 34,9 8 9 35,4 7 0 41,2 8 8 14,2 2 7 9,5 7 6 12,9 6 8 22,5 8 1 46,487 Federal agency2 0 0 0 0 0 0 0 0 0 0 0 0 0 Repurchase agreements4 31,0 0 0 0 31,0 0 0 0 0 0 0 0 0 0 0 0 0 Loans 1 4 9 0 0 0 0 0 4 7 3 1 5 3 4 1 3 3 7 Items in process of collection 5,9 7 1 2 9 6 3 4 1 3 4 5 6 1 1 4 3 5 5 5 0 3 1 0 1 7 9 2 2 8 5 7 9 4 6 4 1,632 Bank premises 1,8 1 8 1 0 4 2 0 0 5 4 1 5 9 1 4 3 2 7 4 1 8 1 6 2 1 2 1 8 5 2 6 9 166 Other assets5 37,0 2 1 3,2 7 6 13,9 0 7 1,0 7 4 2,4 7 7 4,8 9 8 2,0 2 9 2,5 4 1 8 8 5 7 4 7 6 6 2 9 2 1 3,604 Interdistrict settlement account 0 - 5 2 - 8,6 7 1 + 4,5 0 9 + 1,4 1 9 + 3,5 7 9 + 4,0 0 6 + 1,9 8 4 - 2 6 5 - 1 9 7 - 4 7 8 - 3,6 0 8 - 2,227 Total assets 812,8 2 1 41,2 6 2 328,7 3 1 32,1 9 4 35,8 1 6 65,2 6 1 63,9 8 8 71,4 5 3 23,7 4 3 16,2 9 7 21,7 3 9 34,3 5 3 77,985 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 May 25, 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 861,37 5 39,5 5 2 337,9 6 0 36,3 4 8 35,1 4 6 66,5 8 4 79,3 5 8 74,7 4 1 24,4 1 2 16,3 4 3 23,9 8 7 39,9 4 3 87,001 Less: notes held by F.R. Banks 139,63 1 4,1 9 2 41,4 1 0 7,0 0 3 5,3 2 8 12,2 4 0 22,7 6 8 9,7 8 3 2,9 4 1 2,0 8 1 4,5 9 8 8,3 6 0 18,927 Federal Reserve notes, net 721,74 4 35,3 6 0 296,5 5 0 29,3 4 5 29,8 1 8 54,3 4 4 56,5 9 0 64,9 5 8 21,4 7 1 14,2 6 2 19,3 8 8 31,5 8 4 68,074 Reverse repurchase agreements1 25,18 6 1,2 8 9 9,9 8 7 8 9 3 1,0 6 4 1,9 2 2 1,9 4 9 2,2 6 8 7 8 2 5 2 6 7 1 2 1,2 4 0 2,554 Deposits 29,75 7 1,2 0 6 12,8 6 4 7 1 5 1,8 9 7 3,0 2 7 2,9 3 3 1,7 7 5 5 5 1 4 4 2 7 3 0 6 6 6 2,950 Depository institutions 23,88 1 1,1 9 4 7,1 2 2 7 1 4 1,8 9 2 2,9 2 9 2,9 3 1 1,7 7 2 5 4 8 4 4 1 7 2 8 6 6 5 2,946 U.S. Treasury, general account 5,51 8 0 5,5 1 8 0 0 0 0 0 0 0 0 0 0 Foreign official 7 9 5 5 1 1 4 7 2 3 1 1 1 0 4 Other 27 8 8 1 7 3 0 1 9 1 0 0 3 0 1 0 0 Deferred availability cash items 7,09 5 5 0 0 7 9 0 4 8 6 6 7 0 5 5 6 8 7 6 4 3 4 1 5 1 4 5 1 4 7 8 3 7 7 1,325 Other liabilities and accrued dividends2 3,42 4 2 1 2 1,1 3 5 1 2 9 1 8 4 3 5 8 2 7 3 3 0 8 1 3 2 1 0 1 1 0 7 1 7 3 312 Total liabilities 787,20 6 38,5 6 6 321,3 2 6 31,5 6 9 33,6 3 3 60,2 0 7 62,6 2 1 69,7 4 3 23,0 8 7 15,7 8 3 21,4 1 6 34,0 4 0 75,215 Capital Capital paid in 12,85 9 1,5 5 0 3,6 0 8 3 0 6 1,1 2 4 2,5 5 2 6 6 1 8 3 1 3 3 0 2 5 3 1 5 6 1 4 8 1,340 Surplus 11,41 7 1,1 4 6 3,4 3 0 2 9 4 1,0 5 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 1,34 0 0 3 6 8 2 5 0 3 5 3 1 8 9 1 1 6 9 1 6 1 4 3 0 147 Total liabilities and capital 812,82 1 41,2 6 2 328,7 3 1 32,1 9 4 35,8 1 6 65,2 6 1 63,9 8 8 71,4 5 3 23,7 4 3 16,2 9 7 21,7 3 9 34,3 5 3 77,985 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 May 25, 2005 Federal Reserve notes outstanding 861,375 Less: Notes held by F.R. Banks not subject to collateralization 139,631 Federal Reserve notes to be collateralized 721,744 Collateral held against Federal Reserve notes 721,744 Gold certificate account 11,037 Special drawing rights certificate account 2,200 U.S. Treasury and agency securities pledged1 708,507 Other assets pledged 0 Memo: Total U.S. Treasury and agency securities1 753,992 Less: face value of securities under reverse repurchase agreements 25,204 U.S. Treasury and agency securities eligible to be pledged 728,788 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.