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 June 16, 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 Jun 15, 2005 Jun 8, 2005 Jun 16, 2004 Jun 15, 2005 Reserve Bank credit 787,960 - 2,035 + 41,582 793,012 Securities held outright 725,482 + 34 + 40,502 725,495 U.S. Treasury1 725,482 + 34 + 40,502 725,495 Bills2 265,015 0 + 13,102 265,015 Notes and bonds, nominal2 438,678 0 + 21,984 438,678 Notes and bonds, inflation-indexed2 19,108 0 + 4,644 19,108 Inflation compensation3 2,680 + 34 + 772 2,693 Federal agency2 0 0 0 0 Repurchase agreements4 23,714 - 1,786 + 893 29,000 Loans to depository institutions 162 + 10 - 7 151 Primary credit 14 + 12 - 20 0 Secondary credit 0 0 0 0 Seasonal credit 148 - 2 + 13 151 Float -721 - 422 - 361 -962 Other Federal Reserve assets 39,323 + 129 + 555 39,329 Gold stock 11,041 - 1 - 4 11,041 Special drawing rights certificate account 2,200 0 0 2,200 Treasury currency outstanding5 36,629 + 14 + 647 36,629 Total factors supplying reserve funds 837,830 - 2,021 + 42,225 842,882 Currency in circulation5 759,614 - 1,549 + 34,696 760,312 Reverse repurchase agreements6 23,691 - 652 + 3,635 23,147 Foreign official and international accounts 23,691 - 652 + 3,635 23,147 Dealers 0 0 0 0 Treasury cash holdings 280 - 7 - 44 271 Deposits with F.R. Banks, other than reserve balances 14,606 + 574 - 2,268 18,802 U.S. Treasury, general account 5,534 + 756 - 661 9,849 Foreign official 93 - 11 - 39 91 Service-related 8,608 - 222 - 1,687 8,608 Required clearing balances 8,608 - 222 - 1,687 8,608 Adjustments to compensate for float 0 0 0 0 Other 372 + 51 + 120 255 Other liabilities and capital 29,399 + 151 + 7,988 28,972 Total factors, other than reserve balances, absorbing reserve funds 827,591 - 1,482 + 44,008 831,504 Reserve balances with Federal Reserve Banks 10,240 - 538 - 1,782 11,377 Memo (off-balance-sheet items): Marketable securities held in custody for foreign official and international accounts2,7 1,436,334 + 4,697 + 209,022 1,436,087 U.S. Treasury 1,091,824 + 3,008 + 98,339 1,092,127 Federal agency 344,510 + 1,689 + 110,683 343,960 Securities lent to dealers 5,166 + 767 + 4,240 5,614 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 Jun 15, 2005 Jun 8, 2005 Jun 16, 2004 Assets Gold certificate account 11,037 0 - 4 Special drawing rights certificate account 2,200 0 0 Coin 629 + 17 - 115 Securities, repurchase agreements, and loans 754,645 - 1,465 + 50,478 Securities held outright 725,495 + 35 + 40,502 U.S. Treasury1 725,495 + 35 + 40,502 Bills2 265,015 0 + 13,093 Notes and bonds, nominal2 438,678 0 + 21,984 Notes and bonds, inflation-indexed2 19,108 0 + 4,644 Inflation compensation3 2,693 + 34 + 781 Federal agency2 0 0 0 Repurchase agreements4 29,000 - 1,500 + 10,000 Loans 151 + 2 - 23 Items in process of collection (1,037) 5,333 - 1,404 - 544 Bank premises 1,823 + 2 + 135 Other assets5 37,492 - 108 + 376 Total assets (1,037) 813,159 - 2,958 + 50,325 Liabilities Federal Reserve notes, net of F.R. Bank holdings 724,579 - 1,122 + 33,965 Reverse repurchase agreements6 23,147 - 809 + 5,176 Deposits (0) 30,165 - 195 + 3,519 Depository institutions 19,971 - 5,151 + 763 U.S. Treasury, general account 9,849 + 5,223 + 2,782 Foreign official 91 - 21 - 41 Other (0) 255 - 246 + 17 Deferred availability cash items (1,037) 6,295 - 411 - 63 Other liabilities and accrued dividends7 3,502 + 1 + 1,025 Total liabilities (1,037) 787,689 - 2,536 + 43,624 Capital accounts Capital paid in 12,921 + 17 + 3,702 Surplus 11,396 - 44 + 2,549 Other capital accounts 1,152 - 396 + 450 Total capital 25,470 - 422 + 6,702 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, June 15, 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 29 61,853 + 7,238 0 0 29,000 23,147 16 days to 90 days 122 155,574 - 7,056 0 0 0 0 91 days to 1 year 0 159,709 - 182 0 0 . . . . . . Over 1 year to 5 years . . . 216,552 + 14 0 0 . . . . . . Over 5 years to 10 years . . . 53,769 + 5 0 0 . . . . . . Over 10 years . . . 78,038 + 15 0 0 . . . . . . All 151 725,495 + 35 0 0 29,000 23,147 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 June 15, 2005 Millions of dollars Kansas San Assets, liabilities, and capital Total Boston New York Philadelphia Cleveland Richmond Atlanta Chicago St. Louis Minneapolis Dallas City 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 2 9 2 0 3 8 4 7 4 5 4 9 8 3 1 0 3 3 3 1 9 4 3 5 3 97 Securities, repurchase agreements, and loans 754,6 4 5 37,1 1 9 316,6 8 4 25,7 3 7 30,6 4 9 55,3 6 7 56,1 3 1 65,4 0 6 22,5 2 1 15,1 9 7 20,5 3 6 35,7 3 5 73,565 Securities held outright 725,4 9 5 37,1 1 9 287,6 8 4 25,7 3 7 30,6 4 9 55,3 6 7 56,1 2 8 65,3 3 4 22,5 1 3 15,1 5 2 20,5 2 0 35,7 3 2 73,561 U.S. Treasury1 725,4 9 5 37,1 1 9 287,6 8 4 25,7 3 7 30,6 4 9 55,3 6 7 56,1 2 8 65,3 3 4 22,5 1 3 15,1 5 2 20,5 2 0 35,7 3 2 73,561 Bills2 265,0 1 5 13,5 5 9 105,0 8 8 9,4 0 1 11,1 9 6 20,2 2 5 20,5 0 3 23,8 6 6 8,2 2 4 5,5 3 5 7,4 9 6 13,0 5 2 26,871 Notes and bonds3 460,4 8 0 23,5 6 0 182,5 9 6 16,3 3 5 19,4 5 3 35,1 4 2 35,6 2 5 41,4 6 8 14,2 8 9 9,6 1 7 13,0 2 4 22,6 7 9 46,690 Federal agency2 0 0 0 0 0 0 0 0 0 0 0 0 0 Repurchase agreements4 29,0 0 0 0 29,0 0 0 0 0 0 0 0 0 0 0 0 0 Loans 1 5 1 0 0 0 0 0 3 7 1 8 4 4 1 6 3 4 Items in process of collection 6,3 6 9 3 1 0 3 4 2 3 9 9 5 6 7 4 8 8 5 8 8 3 3 1 1 9 6 3 3 3 5 9 5 3 6 4 1,857 Bank premises 1,8 2 3 1 0 5 2 0 2 5 4 1 5 8 1 4 3 2 7 4 1 8 8 6 3 1 2 1 8 6 2 6 4 166 Other assets5 37,4 9 2 3,2 4 8 14,1 4 1 1,1 8 3 2,4 6 2 4,8 7 0 2,0 5 7 2,5 9 6 8 8 8 7 5 1 6 8 0 9 7 6 3,639 Interdistrict settlement account 0 - 1,8 7 4 - 7,3 4 0 + 4,8 9 6 + 9 0 0 + 4,6 6 5 + 2,9 2 9 + 3,0 9 3 + 4 6 5 - 4 4 6 + 3 7 1 - 3,8 1 4 - 3,844 Total assets 814,1 9 5 39,5 5 3 329,2 9 6 32,8 3 0 35,3 3 7 66,5 6 5 63,1 7 2 72,8 5 6 24,5 6 4 16,2 1 8 22,6 9 4 34,2 2 5 76,886 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 June 15, 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 864,8 3 8 39,7 1 5 337,3 4 4 36,5 7 1 35,2 2 5 66,8 7 5 79,9 1 8 75,9 5 8 25,1 9 2 16,3 1 7 24,9 8 9 39,8 0 1 86,932 Less: notes held by F.R. Banks 140,2 5 8 4,1 9 5 42,0 2 4 6,6 5 7 5,2 7 7 12,2 2 3 23,0 4 2 9,7 3 2 2,8 7 4 2,0 2 6 4,6 7 7 8,2 5 3 19,279 Federal Reserve notes, net 724,5 7 9 35,5 2 0 295,3 1 9 29,9 1 5 29,9 4 9 54,6 5 2 56,8 7 6 66,2 2 6 22,3 1 8 14,2 9 1 20,3 1 2 31,5 4 8 67,653 Reverse repurchase agreements1 23,1 4 7 1,1 8 4 9,1 7 9 8 2 1 9 7 8 1,7 6 6 1,7 9 1 2,0 8 4 7 1 8 4 8 3 6 5 5 1,1 4 0 2,347 Deposits 30,1 6 5 8 4 7 15,5 1 4 8 6 1 1,4 1 0 2,7 6 4 1,8 9 1 2,1 5 9 5 5 6 3 4 3 7 5 7 7 2 6 2,336 Depository institutions 19,9 7 1 8 3 9 5,4 4 5 8 6 0 1,4 0 6 2,6 7 0 1,8 8 9 2,1 5 6 5 5 3 3 4 2 7 5 6 7 2 5 2,332 U.S. Treasury, general account 9,8 4 9 0 9,8 4 9 0 0 0 0 0 0 0 0 0 0 Foreign official 9 1 5 6 3 1 4 7 2 3 1 1 1 0 4 Other 2 5 5 4 1 5 8 0 1 8 7 0 1 2 0 1 0 0 Deferred availability cash items 7,3 3 2 5 1 0 7 8 5 4 7 7 6 2 9 5 3 7 9 7 2 3 5 3 1 7 4 4 8 9 5 4 2 3 1 8 1,546 Other liabilities and accrued dividends2 3,5 0 2 1 7 8 1,1 6 3 1 3 1 1 9 0 3 9 0 2 8 0 3 2 9 1 3 4 1 0 2 1 0 8 1 7 8 318 Total liabilities 788,7 2 5 38,2 4 0 321,9 6 1 32,2 0 5 33,1 5 6 60,1 1 0 61,8 0 9 71,1 5 2 23,9 0 0 15,7 0 8 22,3 7 4 33,9 1 0 74,200 Capital Capital paid in 12,9 2 1 1 7 3 3,6 1 8 3 0 8 1,1 2 7 3,9 5 8 6 6 5 8 4 5 3 3 0 2 5 3 1 5 6 1 4 8 1,340 Surplus 11,3 9 6 1,1 3 0 3,4 3 0 2 9 4 1,0 5 5 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 1,1 5 2 1 1 2 8 8 2 2 0 3 5 0 1 8 2 9 6 9 8 2 1 0 3 1 63 Total liabilities and capital 814,1 9 5 39,5 5 3 329,2 9 6 32,8 3 0 35,3 3 7 66,5 6 5 63,1 7 2 72,8 5 6 24,5 6 4 16,2 1 8 22,6 9 4 34,2 2 5 76,886 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 Jun 15, 2005 Federal Reserve notes outstanding 864,838 Less: Notes held by F.R. Banks not subject to collateralization 140,258 Federal Reserve notes to be collateralized 724,579 Collateral held against Federal Reserve notes 724,579 Gold certificate account 11,037 Special drawing rights certificate account 2,200 U.S. Treasury and agency securities pledged1 711,343 Other assets pledged 0 Memo: Total U.S. Treasury and agency securities1 754,495 Less: face value of securities under reverse repurchase agreements 23,164 U.S. Treasury and agency securities eligible to be pledged 731,330 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.