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 July 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 Jul 6, 2005 Jun 29, 2005 Jul 7, 2004 Jul 6, 2005 Reserve Bank credit 795,797 + 7,230 + 40,844 801,241 Securities held outright 724,719 - 1,290 + 37,051 724,717 U.S. Treasury1 724,719 - 1,290 + 37,051 724,717 Bills2 265,015 0 + 10,457 265,015 Notes and bonds, nominal2 437,374 - 1,304 + 20,680 437,374 Notes and bonds, inflation-indexed2 19,533 0 + 5,069 19,533 Inflation compensation3 2,797 + 15 + 846 2,796 Federal agency2 0 0 0 0 Repurchase agreements4 30,071 + 6,964 + 2,892 34,000 Loans to depository institutions 745 + 530 + 521 222 Primary credit 539 + 520 + 480 1 Secondary credit 0 0 0 0 Seasonal credit 206 + 10 + 41 221 Float 514 + 1,303 + 532 2,511 Other Federal Reserve assets 39,748 - 277 - 153 39,790 Gold stock 11,041 0 - 4 11,041 Special drawing rights certificate account 2,200 0 0 2,200 Treasury currency outstanding5 36,671 + 14 + 622 36,671 Total factors supplying reserve funds 845,709 + 7,244 + 41,462 851,153 Currency in circulation5 766,557 + 6,616 + 30,264 768,347 Reverse repurchase agreements6 25,767 + 1,456 + 5,809 24,464 Foreign official and international accounts 25,767 + 1,456 + 5,809 24,464 Dealers 0 0 0 0 Treasury cash holdings 237 - 7 - 66 237 Deposits with F.R. Banks, other than reserve balances 12,530 - 843 - 3,288 13,199 U.S. Treasury, general account 3,840 - 886 - 701 4,544 Foreign official 125 + 22 - 30 82 Service-related 8,278 - 1 - 2,584 8,278 Required clearing balances 8,278 - 1 - 2,584 8,278 Adjustments to compensate for float 0 0 0 0 Other 287 + 22 + 26 295 Other liabilities and capital 29,043 - 670 + 7,414 28,794 Total factors, other than reserve balances, absorbing reserve funds 834,134 + 6,552 + 40,134 835,041 Reserve balances with Federal Reserve Banks 11,574 + 691 + 1,327 16,112 Memo (off-balance-sheet items): Marketable securities held in custody for foreign official and international accounts2,7 1,437,974 - 2,245 + 202,421 1,438,044 U.S. Treasury 1,085,936 - 2,610 + 86,647 1,088,804 Federal agency 352,038 + 365 + 115,775 349,240 Securities lent to dealers 5,356 + 1,913 + 3,057 4,637 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 Jul 6, 2005 Jun 29, 2005 Jul 7, 2004 Assets Gold certificate account 11,037 0 - 3 Special drawing rights certificate account 2,200 0 0 Coin 608 - 19 - 104 Securities, repurchase agreements, and loans 758,939 + 6,671 + 42,822 Securities held outright 724,717 - 1,305 + 36,824 U.S. Treasury1 724,717 - 1,305 + 36,824 Bills2 265,015 0 + 10,239 Notes and bonds, nominal2 437,374 - 1,304 + 20,680 Notes and bonds, inflation-indexed2 19,533 0 + 5,069 Inflation compensation3 2,796 + 1 + 838 Federal agency2 0 0 0 Repurchase agreements4 34,000 + 8,000 + 6,000 Loans 222 - 25 - 3 Items in process of collection (1,388) 10,918 + 5,059 + 1,852 Bank premises 1,816 - 15 + 119 Other assets5 38,033 - 208 - 362 Total assets (1,388) 823,551 + 11,487 + 44,324 Liabilities Federal Reserve notes, net of F.R. Bank holdings 732,517 + 4,877 + 29,358 Reverse repurchase agreements6 24,464 + 227 + 4,636 Deposits (0) 29,344 + 4,709 + 2,605 Depository institutions 24,424 + 4,297 + 948 U.S. Treasury, general account 4,544 + 371 + 1,629 Foreign official 82 - 1 - 2 Other (0) 295 + 43 + 31 Deferred availability cash items (1,388) 8,432 + 2,270 + 441 Other liabilities and accrued dividends7 3,225 - 394 + 900 Total liabilities (1,388) 797,982 + 11,690 + 37,940 Capital accounts Capital paid in 12,939 + 3 + 3,688 Surplus 11,437 - 19 + 2,590 Other capital accounts 1,194 - 185 + 107 Total capital 25,569 - 202 + 6,384 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, July 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 36 51,553 - 9,011 0 0 34,000 24,464 16 days to 90 days 186 165,271 + 7,859 0 0 0 0 91 days to 1 year 0 160,338 + 1,178 0 0 . . . . . . Over 1 year to 5 years . . . 215,250 - 1,330 0 0 . . . . . . Over 5 years to 10 years . . . 54,151 0 0 0 . . . . . . Over 10 years . . . 78,156 + 1 0 0 . . . . . . All 222 724,717 - 1,305 0 0 34,000 24,464 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 July 6, 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 0 8 1 5 3 3 3 2 4 6 4 5 8 6 1 0 0 3 8 1 6 4 8 6 1 88 Securities, repurchase agreements, and loans 758,9 3 9 37,0 7 9 321,3 7 6 25,7 0 9 30,6 1 6 55,3 0 8 56,0 7 5 65,3 4 3 22,5 2 8 15,2 0 6 20,5 1 8 35,6 9 8 73,484 Securities held outright 724,7 1 7 37,0 7 9 287,3 7 6 25,7 0 9 30,6 1 6 55,3 0 8 56,0 6 8 65,2 6 4 22,4 8 9 15,1 3 6 20,4 9 8 35,6 9 3 73,482 U.S. Treasury1 724,7 1 7 37,0 7 9 287,3 7 6 25,7 0 9 30,6 1 6 55,3 0 8 56,0 6 8 65,2 6 4 22,4 8 9 15,1 3 6 20,4 9 8 35,6 9 3 73,482 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 459,7 0 3 23,5 2 0 182,2 8 8 16,3 0 8 19,4 2 0 35,0 8 3 35,5 6 5 41,3 9 8 14,2 6 5 9,6 0 1 13,0 0 2 22,6 4 1 46,611 Federal agency2 0 0 0 0 0 0 0 0 0 0 0 0 0 Repurchase agreements4 34,0 0 0 0 34,0 0 0 0 0 0 0 0 0 0 0 0 0 Loans 2 2 2 0 0 0 0 0 7 7 9 4 0 7 0 2 0 4 2 Items in process of collection 12,3 0 6 1,0 8 1 7 3 3 7 6 1 1,1 8 6 9 0 7 1,3 9 7 8 6 3 3 8 3 4 5 9 1,5 6 1 8 0 8 2,167 Bank premises 1,8 1 6 1 0 5 2 0 1 5 4 1 5 7 1 4 3 2 7 3 1 9 5 6 3 1 2 1 7 4 2 6 4 165 Other assets5 38,0 3 3 3,2 3 9 14,3 5 8 1,2 0 0 2,4 6 0 4,8 5 0 2,1 4 7 2,6 3 9 9 0 2 7 6 1 6 9 8 1,0 1 3 3,766 Interdistrict settlement account 0 - 1,7 6 6 -16,1 0 7 + 5,5 3 4 + 1,0 9 8 + 5,5 9 3 + 4,1 0 0 + 3,6 9 5 + 4 9 5 - 3 6 1 + 5 0 1 - 1,8 2 2 - 962 Total assets 824,9 3 9 40,3 7 8 325,8 2 4 33,8 0 5 36,1 2 0 67,8 3 0 65,1 8 9 73,9 7 5 24,8 0 7 16,4 4 4 23,7 8 4 36,6 6 8 80,115 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 July 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 868,5 2 1 39,4 1 9 336,0 5 9 37,0 0 7 35,1 2 0 66,9 7 8 81,1 2 6 76,0 8 3 25,4 6 8 16,5 8 4 25,4 0 8 41,6 3 9 87,631 Less: notes held by F.R. Banks 136,0 0 4 3,7 5 5 42,6 7 8 5,7 4 4 4,7 6 6 11,5 7 8 23,1 5 5 9,1 0 9 2,7 5 9 2,1 6 8 4,4 3 5 7,8 5 4 18,004 Federal Reserve notes, net 732,5 1 7 35,6 6 4 293,3 8 1 31,2 6 3 30,3 5 4 55,3 9 9 57,9 7 1 66,9 7 4 22,7 0 8 14,4 1 6 20,9 7 4 33,7 8 5 69,627 Reverse repurchase agreements1 24,4 6 4 1,2 5 2 9,7 0 1 8 6 8 1,0 3 3 1,8 6 7 1,8 9 3 2,2 0 3 7 5 9 5 1 1 6 9 2 1,2 0 5 2,480 Deposits 29,3 4 4 8 2 1 13,3 4 8 5 5 1 1,4 7 6 2,8 2 3 2,5 5 6 2,1 6 0 4 8 8 3 6 5 7 0 0 6 5 8 3,398 Depository institutions 24,4 2 4 8 0 8 8,5 8 3 5 4 9 1,4 7 2 2,7 0 0 2,5 5 5 2,1 5 7 4 8 4 3 6 4 6 9 9 6 5 7 3,394 U.S. Treasury, general account 4,5 4 4 0 4,5 4 4 0 0 0 0 0 0 0 0 0 0 Foreign official 8 2 5 5 4 1 4 7 2 3 1 1 1 0 4 Other 2 9 5 8 1 6 7 0 0 1 1 5 0 0 2 0 1 0 0 Deferred availability cash items 9,8 2 0 1,1 3 3 9 3 7 3 7 8 8 7 6 9 6 8 9 4 7 6 2 1 2 5 0 5 4 6 9 9 3 5 3 7 1,635 Other liabilities and accrued dividends2 3,2 2 5 1 7 6 1,0 8 7 1 2 5 1 7 8 2 9 6 2 6 6 3 0 9 1 2 5 9 7 1 0 5 1 7 2 289 Total liabilities 799,3 7 0 39,0 4 6 318,4 5 3 33,1 8 4 33,9 1 8 61,3 5 2 63,6 3 3 72,2 6 7 24,3 3 1 15,9 3 5 23,4 6 4 36,3 5 7 77,429 Capital Capital paid in 12,9 3 9 1 7 3 3,6 2 7 3 0 9 1,1 2 8 3,9 5 8 8 6 2 8 4 5 1 3 8 2 5 3 1 5 7 1 4 9 1,341 Surplus 11,4 3 7 1,1 6 0 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 1,1 9 4 0 3 1 4 1 8 9 3 7 1 1 7 8 1 0 0 1 0 3 1 9 2 7 62 Total liabilities and capital 824,9 3 9 40,3 7 8 325,8 2 4 33,8 0 5 36,1 2 0 67,8 3 0 65,1 8 9 73,9 7 5 24,8 0 7 16,4 4 4 23,7 8 4 36,6 6 8 80,115 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 Jul 6, 2005 Federal Reserve notes outstanding 868,521 Less: Notes held by F.R. Banks not subject to collateralization 136,004 Federal Reserve notes to be collateralized 732,517 Collateral held against Federal Reserve notes 732,517 Gold certificate account 11,037 Special drawing rights certificate account 2,200 U.S. Treasury and agency securities pledged1 719,280 Other assets pledged 0 Memo: Total U.S. Treasury and agency securities1 758,717 Less: face value of securities under reverse repurchase agreements 24,485 U.S. Treasury and agency securities eligible to be pledged 734,232 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.