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 14, 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 13, 2005 Jul 6, 2005 Jul 14, 2004 Jul 13, 2005 Reserve Bank credit 792,010 - 3,787 + 36,602 790,828 Securities held outright 724,714 - 5 + 34,940 724,712 U.S. Treasury1 724,714 - 5 + 34,940 724,712 Bills2 265,015 0 + 9,991 265,015 Notes and bonds, nominal2 437,374 0 + 19,123 437,374 Notes and bonds, inflation-indexed2 19,533 0 + 5,012 19,533 Inflation compensation3 2,792 - 5 + 815 2,790 Federal agency2 0 0 0 0 Repurchase agreements4 26,893 - 3,178 + 1,643 25,250 Loans to depository institutions 275 - 470 + 32 238 Primary credit 51 - 488 - 2 11 Secondary credit 0 0 0 0 Seasonal credit 224 + 18 + 33 228 Float 23 - 491 + 232 264 Other Federal Reserve assets 40,105 + 357 - 245 40,363 Gold stock 11,041 0 - 4 11,041 Special drawing rights certificate account 2,200 0 0 2,200 Treasury currency outstanding5 36,629 + 14 + 570 36,629 Total factors supplying reserve funds 841,880 - 3,773 + 37,169 840,698 Currency in circulation5 765,786 - 715 + 29,536 765,478 Reverse repurchase agreements6 25,416 - 351 + 5,649 25,597 Foreign official and international accounts 25,416 - 351 + 5,649 25,597 Dealers 0 0 0 0 Treasury cash holdings 237 0 - 65 235 Deposits with F.R. Banks, other than reserve balances 14,216 + 1,686 - 1,409 14,200 U.S. Treasury, general account 4,843 + 1,003 + 9 4,790 Foreign official 86 - 39 + 6 100 Service-related 9,006 + 728 - 1,417 9,006 Required clearing balances 9,006 + 728 - 1,416 9,006 Adjustments to compensate for float 0 0 0 0 Other 281 - 6 - 7 304 Other liabilities and capital 29,612 + 569 + 7,899 29,632 Total factors, other than reserve balances, absorbing reserve funds 835,266 + 1,188 + 41,608 835,142 Reserve balances with Federal Reserve Banks 6,614 - 4,961 - 4,440 5,555 Memo (off-balance-sheet items): Marketable securities held in custody for foreign official and international accounts2,7 1,442,624 + 4,650 + 208,616 1,443,055 U.S. Treasury 1,092,727 + 6,791 + 95,679 1,091,724 Federal agency 349,897 - 2,141 + 112,937 351,331 Securities lent to dealers 2,889 - 2,467 + 2,314 2,874 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 13, 2005 Jul 6, 2005 Jul 14, 2004 Assets Gold certificate account 11,037 0 - 3 Special drawing rights certificate account 2,200 0 0 Coin 612 + 4 - 98 Securities, repurchase agreements, and loans 750,201 - 8,738 + 34,132 Securities held outright 724,712 - 5 + 34,403 U.S. Treasury1 724,712 - 5 + 34,403 Bills2 265,015 0 + 9,837 Notes and bonds, nominal2 437,374 0 + 19,123 Notes and bonds, inflation-indexed2 19,533 0 + 4,671 Inflation compensation3 2,790 - 6 + 773 Federal agency2 0 0 0 Repurchase agreements4 25,250 - 8,750 - 250 Loans 238 + 16 - 22 Items in process of collection (665) 6,442 - 4,476 + 438 Bank premises 1,814 - 2 + 117 Other assets5 38,565 + 532 - 333 Total assets (665) 810,870 - 12,681 + 34,252 Liabilities Federal Reserve notes, net of F.R. Bank holdings 729,691 - 2,826 + 28,564 Reverse repurchase agreements6 25,597 + 1,133 + 5,762 Deposits (0) 19,771 - 9,573 - 8,460 Depository institutions 14,577 - 9,847 - 7,854 U.S. Treasury, general account 4,790 + 246 - 579 Foreign official 100 + 18 + 19 Other (0) 304 + 9 - 45 Deferred availability cash items (665) 6,178 - 2,254 + 70 Other liabilities and accrued dividends7 3,269 + 44 + 883 Total liabilities (665) 784,507 - 13,475 + 26,820 Capital accounts Capital paid in 13,369 + 430 + 4,118 Surplus 11,482 + 45 + 2,635 Other capital accounts 1,513 + 319 + 680 Total capital 26,363 + 794 + 7,432 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 13, 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 37 50,577 - 976 0 0 25,250 25,597 16 days to 90 days 201 166,206 + 935 0 0 0 0 91 days to 1 year 0 160,378 + 40 0 0 . . . . . . Over 1 year to 5 years . . . 215,248 - 2 0 0 . . . . . . Over 5 years to 10 years . . . 54,150 - 1 0 0 . . . . . . Over 10 years . . . 78,153 - 3 0 0 . . . . . . All 238 724,712 - 5 0 0 25,250 25,597 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 13, 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 1 2 1 5 3 4 3 0 4 8 5 1 8 4 9 6 3 6 1 8 4 6 6 3 90 Securities, repurchase agreements, and loans 750,2 0 1 37,0 7 8 312,6 2 9 25,7 0 9 30,6 1 6 55,3 0 8 56,0 7 8 65,3 4 5 22,5 2 3 15,2 1 2 20,5 1 7 35,6 9 7 73,489 Securities held outright 724,7 1 2 37,0 7 8 287,3 7 4 25,7 0 9 30,6 1 6 55,3 0 8 56,0 6 8 65,2 6 4 22,4 8 8 15,1 3 6 20,4 9 8 35,6 9 3 73,481 U.S. Treasury1 724,7 1 2 37,0 7 8 287,3 7 4 25,7 0 9 30,6 1 6 55,3 0 8 56,0 6 8 65,2 6 4 22,4 8 8 15,1 3 6 20,4 9 8 35,6 9 3 73,481 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 459,6 9 8 23,5 2 0 182,2 8 6 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 46,610 Federal agency2 0 0 0 0 0 0 0 0 0 0 0 0 0 Repurchase agreements4 25,2 5 0 0 25,2 5 0 0 0 0 0 0 0 0 0 0 0 Loans 2 3 8 0 5 0 0 0 1 1 8 1 3 4 7 6 2 0 4 8 Items in process of collection 7,1 0 7 6 1 1 3 6 9 4 1 4 6 0 0 4 8 0 6 6 8 1 8 4 2 0 4 3 8 9 1,0 1 9 4 8 8 1,681 Bank premises 1,8 1 4 1 0 6 2 0 2 5 4 1 5 8 1 4 3 2 7 4 1 9 0 6 4 1 2 1 7 6 2 6 4 165 Other assets5 38,5 6 5 3,2 8 3 14,5 6 7 1,2 2 2 2,4 9 6 4,9 2 7 2,2 0 3 2,6 8 6 9 1 8 7 7 5 7 1 2 1,0 3 6 3,740 Interdistrict settlement account 0 - 1,8 9 2 -13,4 3 9 + 6,2 8 4 + 3 6 1 + 4,3 9 1 + 3,5 5 9 + 3,2 7 2 + 4 4 4 - 4 9 4 + 5 1 4 - 5 9 1 - 2,411 Total assets 811,5 3 5 39,8 2 6 319,5 9 0 34,2 2 8 34,8 3 6 66,2 8 3 63,9 7 7 72,9 1 4 24,5 8 6 16,2 6 2 23,2 6 9 37,6 0 4 78,160 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 13, 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 870,2 6 7 39,3 9 9 335,8 6 1 36,9 4 2 35,1 2 6 66,9 9 1 81,2 3 9 76,1 1 7 25,4 6 3 16,5 6 7 25,4 5 7 43,0 5 1 88,052 Less: notes held by F.R. Banks 140,5 7 5 3,8 7 7 44,1 4 7 5,8 5 6 4,9 1 3 11,9 2 2 23,4 2 6 9,4 9 5 2,8 6 4 2,2 6 4 4,5 8 9 8,1 9 6 19,024 Federal Reserve notes, net 729,6 9 1 35,5 2 2 291,7 1 4 31,0 8 6 30,2 1 3 55,0 6 9 57,8 1 3 66,6 2 2 22,5 9 9 14,3 0 3 20,8 6 8 34,8 5 4 69,029 Reverse repurchase agreements1 25,5 9 7 1,3 1 0 10,1 5 0 9 0 8 1,0 8 1 1,9 5 4 1,9 8 0 2,3 0 5 7 9 4 5 3 5 7 2 4 1,2 6 1 2,595 Deposits 19,7 7 1 8 2 5 8,4 3 3 6 1 7 6 3 9 1,8 8 9 1,5 4 9 1,5 7 3 5 0 7 3 4 4 5 8 4 7 0 5 2,105 Depository institutions 14,5 7 7 8 1 7 3,3 9 0 6 1 6 6 3 4 1,7 6 8 1,5 4 7 1,5 7 0 5 0 4 3 4 3 5 8 3 7 0 4 2,101 U.S. Treasury, general account 4,7 9 0 0 4,7 9 0 0 0 0 0 0 0 0 0 0 0 Foreign official 1 0 0 5 7 2 1 4 7 2 3 1 1 1 0 4 Other 3 0 4 4 1 8 1 0 1 1 1 4 0 0 2 0 1 0 0 Deferred availability cash items 6,8 4 3 6 1 4 6 9 4 4 2 5 5 0 3 5 2 9 7 4 8 3 6 6 1 6 8 4 6 3 6 5 4 2 8 7 1,391 Other liabilities and accrued dividends2 3,2 6 9 1 7 7 1,1 0 4 1 2 9 1 6 6 3 0 5 2 7 4 3 1 3 1 2 9 9 9 1 0 6 1 7 4 295 Total liabilities 785,1 7 2 38,4 4 8 312,0 9 5 33,1 6 6 32,6 0 3 59,7 4 5 62,3 6 4 71,1 7 8 24,1 9 7 15,7 4 3 22,9 3 7 37,2 8 1 75,415 Capital Capital paid in 13,3 6 9 1 7 3 3,6 2 7 7 3 4 1,1 2 8 3,9 6 0 8 6 2 8 4 5 1 3 8 2 5 3 1 6 0 1 4 9 1,341 Surplus 11,4 8 2 1,2 0 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 1,5 1 3 0 4 3 9 3 5 4 0 4 3 1 2 3 5 1 2 7 1 6 1 1 1 9 3 9 121 Total liabilities and capital 811,5 3 5 39,8 2 6 319,5 9 0 34,2 2 8 34,8 3 6 66,2 8 3 63,9 7 7 72,9 1 4 24,5 8 6 16,2 6 2 23,2 6 9 37,6 0 4 78,160 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 13, 2005 Federal Reserve notes outstanding 870,267 Less: Notes held by F.R. Banks not subject to collateralization 140,575 Federal Reserve notes to be collateralized 729,691 Collateral held against Federal Reserve notes 729,691 Gold certificate account 11,037 Special drawing rights certificate account 2,200 U.S. Treasury and agency securities pledged1 716,455 Other assets pledged 0 Memo: Total U.S. Treasury and agency securities1 749,962 Less: face value of securities under reverse repurchase agreements 25,619 U.S. Treasury and agency securities eligible to be pledged 724,343 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.