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 30, 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 29, 2005 Jun 22, 2005 Jun 30, 2004 Jun 29, 2005 Reserve Bank credit 788,567 + 713 + 36,311 792,084 Securities held outright 726,009 + 100 + 38,910 726,022 U.S. Treasury1 726,009 + 100 + 38,910 726,022 Bills2 265,015 0 + 11,007 265,015 Notes and bonds, nominal2 438,678 0 + 21,984 438,678 Notes and bonds, inflation-indexed2 19,533 + 60 + 5,069 19,533 Inflation compensation3 2,782 + 39 + 850 2,795 Federal agency2 0 0 0 0 Repurchase agreements4 23,107 + 821 - 2,143 26,000 Loans to depository institutions 215 + 35 - 7 247 Primary credit 19 - 3 - 39 29 Secondary credit 0 0 0 0 Seasonal credit 196 + 38 + 32 218 Float -789 - 559 - 781 -294 Other Federal Reserve assets 40,025 + 315 + 332 40,110 Gold stock 11,041 0 - 4 11,041 Special drawing rights certificate account 2,200 0 0 2,200 Treasury currency outstanding5 36,657 + 14 + 618 36,657 Total factors supplying reserve funds 838,465 + 727 + 36,925 841,982 Currency in circulation5 759,941 + 901 + 30,531 763,437 Reverse repurchase agreements6 24,311 + 894 + 5,817 24,237 Foreign official and international accounts 24,311 + 894 + 5,817 24,237 Dealers 0 0 0 0 Treasury cash holdings 244 - 24 - 63 237 Deposits with F.R. Banks, other than reserve balances 13,373 - 569 - 3,802 12,787 U.S. Treasury, general account 4,726 - 256 - 1,235 4,173 Foreign official 103 + 7 - 15 83 Service-related 8,279 - 327 - 2,582 8,279 Required clearing balances 8,279 - 327 - 2,582 8,279 Adjustments to compensate for float 0 0 0 0 Other 265 + 7 + 30 252 Other liabilities and capital 29,713 + 209 + 7,788 29,390 Total factors, other than reserve balances, absorbing reserve funds 827,582 + 1,411 + 40,272 830,088 Reserve balances with Federal Reserve Banks 10,883 - 684 - 3,347 11,894 Memo (off-balance-sheet items): Marketable securities held in custody for foreign official and international accounts2,7 1,440,219 + 3,672 + 214,760 1,439,204 U.S. Treasury 1,088,546 - 3,052 + 97,012 1,084,876 Federal agency 351,673 + 6,725 + 117,748 354,329 Securities lent to dealers 3,443 - 650 + 1,147 3,701 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 29, 2005 Jun 22, 2005 Jun 30, 2004 Assets Gold certificate account 11,037 0 - 3 Special drawing rights certificate account 2,200 0 0 Coin 627 - 15 - 117 Securities, repurchase agreements, and loans 752,268 - 166 + 31,055 Securities held outright 726,022 + 35 + 38,631 U.S. Treasury1 726,022 + 35 + 38,631 Bills2 265,015 0 + 10,720 Notes and bonds, nominal2 438,678 0 + 21,984 Notes and bonds, inflation-indexed2 19,533 0 + 5,069 Inflation compensation3 2,795 + 35 + 859 Federal agency2 0 0 0 Repurchase agreements4 26,000 - 250 - 7,500 Loans 247 + 50 - 76 Items in process of collection (886) 5,859 + 40 - 102 Bank premises 1,831 + 2 + 129 Other assets5 38,241 - 202 + 477 Total assets (886) 812,064 - 338 + 31,440 Liabilities Federal Reserve notes, net of F.R. Bank holdings 727,640 + 3,312 + 29,454 Reverse repurchase agreements6 24,237 + 875 + 5,009 Deposits (0) 24,635 - 4,477 - 11,531 Depository institutions 20,127 - 3,535 - 9,501 U.S. Treasury, general account 4,173 - 926 - 1,859 Foreign official 83 - 1 - 197 Other (0) 252 - 15 + 26 Deferred availability cash items (886) 6,162 - 12 + 317 Other liabilities and accrued dividends7 3,619 + 66 + 1,353 Total liabilities (886) 786,292 - 236 + 24,600 Capital accounts Capital paid in 12,936 + 1 + 3,710 Surplus 11,456 + 5 + 2,609 Other capital accounts 1,379 - 109 + 520 Total capital 25,771 - 103 + 6,839 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 29, 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 221 60,564 - 976 0 0 26,000 24,237 16 days to 90 days 26 157,412 + 1,392 0 0 0 0 91 days to 1 year 0 159,160 - 416 0 0 . . . . . . Over 1 year to 5 years . . . 216,580 + 14 0 0 . . . . . . Over 5 years to 10 years . . . 54,151 + 6 0 0 . . . . . . Over 10 years . . . 78,155 + 15 0 0 . . . . . . All 247 726,022 + 35 0 0 26,000 24,237 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 29, 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 7 1 7 3 5 3 5 4 6 4 9 8 7 1 0 0 3 6 1 7 4 9 6 1 94 Securities, repurchase agreements, and loans 752,2 6 8 37,1 4 5 313,9 0 2 25,7 5 5 30,6 7 1 55,4 0 7 56,1 8 0 65,4 7 1 22,5 5 8 15,2 2 8 20,5 5 3 35,7 6 2 73,636 Securities held outright 726,0 2 2 37,1 4 5 287,8 9 3 25,7 5 5 30,6 7 1 55,4 0 7 56,1 6 9 65,3 8 2 22,5 2 9 15,1 6 3 20,5 3 5 35,7 5 8 73,614 U.S. Treasury1 726,0 2 2 37,1 4 5 287,8 9 3 25,7 5 5 30,6 7 1 55,4 0 7 56,1 6 9 65,3 8 2 22,5 2 9 15,1 6 3 20,5 3 5 35,7 5 8 73,614 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 461,0 0 7 23,5 8 7 182,8 0 5 16,3 5 4 19,4 7 5 35,1 8 2 35,6 6 6 41,5 1 6 14,3 0 5 9,6 2 8 13,0 3 9 22,7 0 5 46,743 Federal agency2 0 0 0 0 0 0 0 0 0 0 0 0 0 Repurchase agreements4 26,0 0 0 0 26,0 0 0 0 0 0 0 0 0 0 0 0 0 Loans 2 4 7 0 1 0 0 0 0 1 1 9 0 2 9 6 4 1 8 4 22 Items in process of collection 6,7 4 5 4 5 4 3 3 1 2 7 0 6 8 6 3 2 1 8 9 6 3 8 5 2 4 9 3 0 0 8 1 1 5 0 3 1,538 Bank premises 1,8 3 1 1 0 5 2 0 2 5 4 1 5 8 1 4 3 2 7 3 1 9 5 6 3 1 2 1 8 7 2 6 4 166 Other assets5 38,2 4 1 3,2 7 7 14,4 3 0 1,2 1 0 2,4 9 1 4,9 2 5 2,1 4 1 2,6 5 7 9 0 7 7 6 8 7 0 4 1,0 1 8 3,713 Interdistrict settlement account 0 - 1,9 0 9 -12,7 4 7 + 6,5 5 7 + 4 3 1 + 4,4 1 6 + 3,3 3 5 + 3,5 7 5 + 7 4 2 - 1 7 9 + 7 6 0 - 2,5 3 3 - 2,448 Total assets 812,9 5 0 39,7 1 5 321,3 8 3 34,3 9 7 35,0 3 9 66,2 4 4 64,0 2 4 73,5 2 3 24,9 5 2 16,4 9 6 23,3 4 8 35,7 2 2 78,106 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 29, 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 867,8 9 2 39,4 1 7 336,2 1 4 36,9 7 5 35,1 2 6 67,0 5 3 81,2 1 7 76,1 2 4 25,5 0 3 16,5 9 5 25,4 5 1 40,9 1 1 87,307 Less: notes held by F.R. Banks 140,2 5 3 3,9 4 7 42,9 3 0 6,0 7 7 5,0 1 6 12,0 8 9 23,8 8 2 9,4 7 4 2,8 2 0 2,2 2 2 4,6 6 5 8,1 1 5 19,015 Federal Reserve notes, net 727,6 4 0 35,4 6 9 293,2 8 4 30,8 9 8 30,1 1 0 54,9 6 4 57,3 3 5 66,6 5 0 22,6 8 3 14,3 7 3 20,7 8 6 32,7 9 6 68,291 Reverse repurchase agreements1 24,2 3 7 1,2 4 0 9,6 1 1 8 6 0 1,0 2 4 1,8 5 0 1,8 7 5 2,1 8 3 7 5 2 5 0 6 6 8 6 1,1 9 4 2,457 Deposits 24,6 3 5 9 1 3 9,1 8 0 1,4 1 7 9 2 1 2,0 2 6 2,3 8 6 2,2 7 1 5 4 3 4 5 2 7 5 3 8 0 6 2,967 Depository institutions 20,1 2 7 9 0 6 4,7 8 2 1,4 1 6 9 1 7 1,9 4 5 2,3 8 4 2,2 6 8 5 4 1 4 5 1 7 5 1 8 0 3 2,963 U.S. Treasury, general account 4,1 7 3 0 4,1 7 3 0 0 0 0 0 0 0 0 0 0 Foreign official 8 3 5 5 5 1 4 7 2 3 1 1 1 0 4 Other 2 5 2 2 1 7 0 1 1 7 4 0 0 1 0 1 2 0 Deferred availability cash items 7,0 4 8 5 6 1 6 8 6 4 5 7 5 7 1 4 8 0 7 6 2 3 5 6 1 7 2 5 4 6 6 8 6 4 2 8 1,343 Other liabilities and accrued dividends2 3,6 1 9 1 8 0 1,1 9 3 1 3 5 1 9 7 4 1 9 2 8 5 3 3 9 1 4 0 1 0 6 1 1 3 1 8 0 332 Total liabilities 787,1 7 9 38,3 6 3 313,9 5 4 33,7 6 7 32,8 2 3 59,7 3 9 62,6 4 3 71,7 9 8 24,2 9 0 15,9 8 3 23,0 2 4 35,4 0 4 75,391 Capital Capital paid in 12,9 3 6 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 9 1,341 Surplus 11,4 5 6 1,1 7 9 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 1,3 7 9 0 3 7 3 2 8 2 5 3 9 9 1 9 6 1 1 7 9 6 6 1 4 3 5 91 Total liabilities and capital 812,9 5 0 39,7 1 5 321,3 8 3 34,3 9 7 35,0 3 9 66,2 4 4 64,0 2 4 73,5 2 3 24,9 5 2 16,4 9 6 23,3 4 8 35,7 2 2 78,106 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 29, 2005 Federal Reserve notes outstanding 867,892 Less: Notes held by F.R. Banks not subject to collateralization 140,253 Federal Reserve notes to be collateralized 727,640 Collateral held against Federal Reserve notes 727,640 Gold certificate account 11,037 Special drawing rights certificate account 2,200 U.S. Treasury and agency securities pledged1 714,403 Other assets pledged 0 Memo: Total U.S. Treasury and agency securities1 752,022 Less: face value of securities under reverse repurchase agreements 24,256 U.S. Treasury and agency securities eligible to be pledged 727,766 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.