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 23, 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 22, 2005 Jun 15, 2005 Jun 23, 2004 Jun 22, 2005 Reserve Bank credit 787,859 - 93 + 39,425 791,914 Securities held outright 725,909 + 427 + 40,866 725,987 U.S. Treasury1 725,909 + 427 + 40,866 725,987 Bills2 265,015 0 + 13,051 265,015 Notes and bonds, nominal2 438,678 0 + 21,984 438,678 Notes and bonds, inflation-indexed2 19,473 + 365 + 5,009 19,533 Inflation compensation3 2,743 + 63 + 823 2,760 Federal agency2 0 0 0 0 Repurchase agreements4 22,286 - 1,428 - 1,964 26,250 Loans to depository institutions 180 + 18 - 17 197 Primary credit 22 + 8 - 32 21 Secondary credit 0 0 0 0 Seasonal credit 158 + 10 + 15 176 Float -225 + 504 + 39 -357 Other Federal Reserve assets 39,710 + 387 + 501 39,838 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 + 633 36,643 Total factors supplying reserve funds 837,743 - 79 + 40,053 841,798 Currency in circulation5 759,040 - 574 + 34,096 760,089 Reverse repurchase agreements6 23,417 - 274 + 4,695 23,362 Foreign official and international accounts 23,417 - 274 + 4,695 23,362 Dealers 0 0 0 0 Treasury cash holdings 268 - 12 - 47 245 Deposits with F.R. Banks, other than reserve balances 13,942 - 664 - 3,712 14,055 U.S. Treasury, general account 4,982 - 552 - 2,052 5,099 Foreign official 96 + 3 - 7 84 Service-related 8,606 - 2 - 1,687 8,606 Required clearing balances 8,606 - 2 - 1,687 8,606 Adjustments to compensate for float 0 0 0 0 Other 258 - 114 + 33 267 Other liabilities and capital 29,504 + 105 + 7,797 29,427 Total factors, other than reserve balances, absorbing reserve funds 826,171 - 1,420 + 42,829 827,178 Reserve balances with Federal Reserve Banks 11,572 + 1,340 - 2,776 14,620 Memo (off-balance-sheet items): Marketable securities held in custody for foreign official and international accounts2,7 1,436,547 + 213 + 212,607 1,441,034 U.S. Treasury 1,091,598 - 226 + 101,495 1,091,557 Federal agency 344,948 + 438 + 111,111 349,478 Securities lent to dealers 4,093 - 1,073 + 3,113 3,830 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 22, 2005 Jun 15, 2005 Jun 23, 2004 Assets Gold certificate account 11,037 0 - 4 Special drawing rights certificate account 2,200 0 0 Coin 642 + 13 - 112 Securities, repurchase agreements, and loans 752,434 - 2,211 + 35,092 Securities held outright 725,987 + 492 + 40,810 U.S. Treasury1 725,987 + 492 + 40,810 Bills2 265,015 0 + 12,921 Notes and bonds, nominal2 438,678 0 + 21,984 Notes and bonds, inflation-indexed2 19,533 + 425 + 5,069 Inflation compensation3 2,760 + 67 + 836 Federal agency2 0 0 0 Repurchase agreements4 26,250 - 2,750 - 5,750 Loans 197 + 46 + 32 Items in process of collection (749) 5,819 + 486 + 259 Bank premises 1,829 + 6 + 138 Other assets5 38,443 + 951 + 748 Total assets (749) 812,402 - 757 + 36,119 Liabilities Federal Reserve notes, net of F.R. Bank holdings 724,328 - 251 + 31,321 Reverse repurchase agreements6 23,362 + 215 + 5,897 Deposits (0) 29,112 - 1,053 - 9,057 Depository institutions 23,662 + 3,691 - 6,995 U.S. Treasury, general account 5,099 - 4,750 - 2,103 Foreign official 84 - 7 + 2 Other (0) 267 + 12 + 40 Deferred availability cash items (749) 6,174 - 121 + 172 Other liabilities and accrued dividends7 3,553 + 51 + 1,002 Total liabilities (749) 786,528 - 1,161 + 29,334 Capital accounts Capital paid in 12,935 + 14 + 3,711 Surplus 11,451 + 55 + 2,604 Other capital accounts 1,488 + 336 + 470 Total capital 25,874 + 404 + 6,785 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 22, 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 183 61,540 - 313 0 0 26,250 23,362 16 days to 90 days 14 156,020 + 446 0 0 0 0 91 days to 1 year 0 159,576 - 133 0 0 . . . . . . Over 1 year to 5 years . . . 216,566 + 14 0 0 . . . . . . Over 5 years to 10 years . . . 54,145 + 376 0 0 . . . . . . Over 10 years . . . 78,140 + 102 0 0 . . . . . . All 197 725,987 + 492 0 0 26,250 23,362 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 22, 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 4 2 2 0 3 5 4 3 4 8 5 1 8 4 1 0 3 3 6 1 9 4 6 6 0 97 Securities, repurchase agreements, and loans 752,4 3 4 37,1 4 4 314,1 2 9 25,7 5 4 30,6 6 9 55,4 0 7 56,1 7 2 65,4 5 7 22,5 4 3 15,2 1 9 20,5 5 2 35,7 6 0 73,628 Securities held outright 725,9 8 7 37,1 4 4 287,8 7 9 25,7 5 4 30,6 6 9 55,4 0 5 56,1 6 6 65,3 7 9 22,5 2 8 15,1 6 3 20,5 3 4 35,7 5 6 73,611 U.S. Treasury1 725,9 8 7 37,1 4 4 287,8 7 9 25,7 5 4 30,6 6 9 55,4 0 5 56,1 6 6 65,3 7 9 22,5 2 8 15,1 6 3 20,5 3 4 35,7 5 6 73,611 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 460,9 7 2 23,5 8 5 182,7 9 1 16,3 5 3 19,4 7 4 35,1 8 0 35,6 6 3 41,5 1 3 14,3 0 4 9,6 2 8 13,0 3 8 22,7 0 4 46,740 Federal agency2 0 0 0 0 0 0 0 0 0 0 0 0 0 Repurchase agreements4 26,2 5 0 0 26,2 5 0 0 0 0 0 0 0 0 0 0 0 Loans 1 9 7 0 0 0 0 2 6 7 8 1 5 5 6 1 8 4 18 Items in process of collection 6,5 6 8 4 9 7 3 5 2 2 9 9 7 1 0 2 9 5 1,0 3 0 2 7 2 1 8 4 2 6 2 8 5 6 3 3 6 1,476 Bank premises 1,8 2 9 1 0 6 2 0 2 5 4 1 5 8 1 4 3 2 7 4 1 9 2 6 3 1 2 1 8 6 2 6 4 166 Other assets5 38,4 4 3 3,2 7 9 14,3 1 9 1,2 0 0 2,4 8 7 5,0 8 6 2,3 8 7 2,6 3 1 9 0 0 7 6 3 6 9 5 9 9 9 3,696 Interdistrict settlement account 0 - 2,2 7 7 - 8,0 5 6 + 5,5 0 3 + 4 6 1 + 4,5 2 2 + 2,5 5 7 + 3,1 5 3 + 3 9 2 - 4 4 2 + 3 3 6 - 2,9 2 6 - 3,224 Total assets 813,1 5 2 39,3 9 4 326,2 1 0 33,3 6 8 35,0 9 0 66,4 8 8 63,6 1 5 72,9 4 8 24,5 1 6 16,1 8 5 22,9 5 4 35,1 3 9 77,245 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 22, 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 866,7 2 0 39,4 7 1 336,4 5 1 36,9 6 8 35,1 6 0 66,9 6 8 80,9 5 4 76,1 1 3 25,1 1 6 16,4 2 1 25,1 0 6 40,6 4 9 87,345 Less: notes held by F.R. Banks 142,3 9 2 4,1 5 6 42,7 4 1 6,4 1 6 5,3 4 5 12,3 7 7 24,0 1 3 9,7 9 8 2,8 7 3 2,1 7 6 4,6 9 2 8,2 9 2 19,513 Federal Reserve notes, net 724,3 2 8 35,3 1 5 293,7 0 9 30,5 5 2 29,8 1 5 54,5 9 1 56,9 4 0 66,3 1 5 22,2 4 3 14,2 4 6 20,4 1 4 32,3 5 7 67,832 Reverse repurchase agreements1 23,3 6 2 1,1 9 5 9,2 6 4 8 2 9 9 8 7 1,7 8 3 1,8 0 7 2,1 0 4 7 2 5 4 8 8 6 6 1 1,1 5 1 2,369 Deposits 29,1 1 2 8 3 5 13,8 5 2 7 7 6 1,2 4 6 2,6 9 8 2,4 1 2 2,1 0 1 5 8 0 3 2 0 7 3 4 8 7 1 2,686 Depository institutions 23,6 6 2 8 2 4 8,5 2 5 7 7 5 1,2 4 2 2,6 0 9 2,4 1 0 2,0 9 8 5 7 6 3 1 9 7 3 2 8 7 0 2,681 U.S. Treasury, general account 5,0 9 9 0 5,0 9 9 0 0 0 0 0 0 0 0 0 0 Foreign official 8 4 5 5 5 1 4 7 2 3 1 1 1 0 4 Other 2 6 7 6 1 7 3 1 1 8 2 0 0 3 0 1 0 0 Deferred availability cash items 6,9 2 3 5 2 1 7 3 1 4 4 3 6 4 0 5 1 8 7 8 6 3 5 5 1 5 6 5 0 9 7 0 7 2 6 0 1,297 Other liabilities and accrued dividends2 3,5 5 3 1 8 1 1,1 7 8 1 3 3 1 9 4 3 9 7 2 8 2 3 3 4 1 3 4 1 0 5 1 1 1 1 7 9 326 Total liabilities 787,2 7 8 38,0 4 7 318,7 3 4 32,7 3 3 32,8 8 3 59,9 8 7 62,2 2 8 71,2 0 9 23,8 3 8 15,6 6 7 22,6 2 6 34,8 1 6 74,509 Capital Capital paid in 12,9 3 5 1 7 3 3,6 2 7 3 0 8 1,1 2 7 3,9 5 8 6 6 9 8 4 5 3 3 0 2 5 3 1 5 7 1 4 8 1,341 Surplus 11,4 5 1 1,1 7 5 3,4 3 0 2 9 4 1,0 6 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 1,4 8 8 0 4 2 0 3 2 1 5 3 9 4 2 0 2 1 3 1 1 1 2 1 0 1 8 4 0 113 Total liabilities and capital 813,1 5 2 39,3 9 4 326,2 1 0 33,3 6 8 35,0 9 0 66,4 8 8 63,6 1 5 72,9 4 8 24,5 1 6 16,1 8 5 22,9 5 4 35,1 3 9 77,245 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 22, 2005 Federal Reserve notes outstanding 866,720 Less: Notes held by F.R. Banks not subject to collateralization 142,392 Federal Reserve notes to be collateralized 724,328 Collateral held against Federal Reserve notes 724,328 Gold certificate account 11,037 Special drawing rights certificate account 2,200 U.S. Treasury and agency securities pledged1 711,091 Other assets pledged 0 Memo: Total U.S. Treasury and agency securities1 752,237 Less: face value of securities under reverse repurchase agreements 23,379 U.S. Treasury and agency securities eligible to be pledged 728,858 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.