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 21, 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 20, 2005 Jul 13, 2005 Jul 21, 2004 Jul 20, 2005 Reserve Bank credit 796,276 + 4,258 + 40,149 798,605 Securities held outright 724,709 - 5 + 32,428 724,707 U.S. Treasury1 724,709 - 5 + 32,428 724,707 Bills2 265,015 0 + 9,777 265,015 Notes and bonds, nominal2 437,374 0 + 17,224 437,374 Notes and bonds, inflation-indexed2 19,533 0 + 4,671 19,533 Inflation compensation3 2,787 - 5 + 756 2,785 Federal agency2 0 0 0 0 Repurchase agreements4 31,643 + 4,750 + 8,107 33,750 Loans to depository institutions 367 + 92 + 127 990 Primary credit 128 + 77 + 102 738 Secondary credit 0 0 0 0 Seasonal credit 239 + 15 + 25 251 Float -538 - 569 - 271 -935 Other Federal Reserve assets 40,095 - 10 - 242 40,093 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 + 575 36,643 Total factors supplying reserve funds 846,159 + 4,271 + 40,719 848,489 Currency in circulation5 762,466 - 3,320 + 28,735 762,599 Reverse repurchase agreements6 26,631 + 1,215 + 6,747 28,196 Foreign official and international accounts 26,631 + 1,215 + 6,747 28,196 Dealers 0 0 0 0 Treasury cash holdings 236 - 1 - 64 243 Deposits with F.R. Banks, other than reserve balances 14,854 + 638 - 1,450 14,258 U.S. Treasury, general account 5,423 + 580 - 86 4,660 Foreign official 119 + 33 + 35 283 Service-related 9,006 0 - 1,414 9,006 Required clearing balances 9,006 0 - 1,414 9,006 Adjustments to compensate for float 0 0 0 0 Other 307 + 26 + 17 309 Other liabilities and capital 29,870 + 258 + 8,331 29,567 Total factors, other than reserve balances, absorbing reserve funds 834,057 - 1,209 + 42,299 834,862 Reserve balances with Federal Reserve Banks 12,102 + 5,481 - 1,580 13,627 Memo (off-balance-sheet items): Marketable securities held in custody for foreign official and international accounts2,7 1,446,031 + 3,407 + 207,292 1,447,340 U.S. Treasury 1,092,086 - 641 + 90,216 1,094,999 Federal agency 353,945 + 4,048 + 117,076 352,340 Securities lent to dealers 1,229 - 1,660 + 797 3,451 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 20, 2005 Jul 13, 2005 Jul 21, 2004 Assets Gold certificate account 11,037 0 - 3 Special drawing rights certificate account 2,200 0 0 Coin 620 + 8 - 105 Securities, repurchase agreements, and loans 759,447 + 9,246 + 41,415 Securities held outright 724,707 - 5 + 32,408 U.S. Treasury1 724,707 - 5 + 32,408 Bills2 265,015 0 + 9,767 Notes and bonds, nominal2 437,374 0 + 17,224 Notes and bonds, inflation-indexed2 19,533 0 + 4,671 Inflation compensation3 2,785 - 5 + 746 Federal agency2 0 0 0 Repurchase agreements4 33,750 + 8,500 + 8,250 Loans 990 + 752 + 757 Items in process of collection (931) 5,406 - 1,036 - 152 Bank premises 1,822 + 8 + 122 Other assets5 38,292 - 273 - 314 Total assets (931) 818,823 + 7,953 + 40,962 Liabilities Federal Reserve notes, net of F.R. Bank holdings 726,814 - 2,877 + 27,646 Reverse repurchase agreements6 28,196 + 2,599 + 8,290 Deposits (0) 27,905 + 8,134 - 3,869 Depository institutions 22,653 + 8,076 - 3,855 U.S. Treasury, general account 4,660 - 130 - 219 Foreign official 283 + 183 + 184 Other (0) 309 + 5 + 22 Deferred availability cash items (931) 6,341 + 163 + 479 Other liabilities and accrued dividends7 3,251 - 18 + 876 Total liabilities (931) 792,507 + 8,000 + 33,422 Capital accounts Capital paid in 13,385 + 16 + 4,140 Surplus 11,484 + 2 + 2,657 Other capital accounts 1,448 - 65 + 743 Total capital 26,316 - 47 + 7,539 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 20, 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 965 56,870 + 6,293 0 0 33,750 28,196 16 days to 90 days 25 159,410 - 6,796 0 0 0 0 91 days to 1 year 0 167,660 + 7,282 0 0 . . . . . . Over 1 year to 5 years . . . 209,727 - 5,521 0 0 . . . . . . Over 5 years to 10 years . . . 52,889 - 1,261 0 0 . . . . . . Over 10 years . . . 78,151 - 2 0 0 . . . . . . All 990 724,707 - 5 0 0 33,750 28,196 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 20, 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 0 1 3 3 5 3 1 4 6 5 3 8 8 9 5 3 5 1 7 5 0 6 4 93 Securities, repurchase agreements, and loans 759,4 4 7 37,0 7 8 321,8 4 5 25,7 0 9 30,6 1 5 55,3 0 7 56,0 7 8 65,3 6 4 22,5 2 8 15,2 0 8 20,5 1 7 35,7 0 0 73,497 Securities held outright 724,7 0 7 37,0 7 8 287,3 7 2 25,7 0 9 30,6 1 5 55,3 0 7 56,0 6 7 65,2 6 3 22,4 8 8 15,1 3 6 20,4 9 8 35,6 9 3 73,481 U.S. Treasury1 724,7 0 7 37,0 7 8 287,3 7 2 25,7 0 9 30,6 1 5 55,3 0 7 56,0 6 7 65,2 6 3 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 2 23,5 1 9 182,2 8 4 16,3 0 7 19,4 2 0 35,0 8 2 35,5 6 4 41,3 9 7 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 33,7 5 0 0 33,7 5 0 0 0 0 0 0 0 0 0 0 0 Loans 9 9 0 0 7 2 3 0 0 0 1 1 1 0 1 4 0 7 2 1 9 7 16 Items in process of collection 6,3 3 7 3 9 8 4 4 8 3 0 1 3 2 0 4 3 2 8 7 8 3 3 7 2 2 5 3 3 1 8 4 9 3 0 8 1,509 Bank premises 1,8 2 2 1 0 6 2 0 4 5 4 1 5 8 1 4 3 2 7 4 1 9 4 6 4 1 2 1 7 6 2 6 4 165 Other assets5 38,2 9 2 3,2 6 3 14,4 8 2 1,2 2 5 2,4 8 2 4,8 9 5 2,1 3 5 2,6 6 3 9 2 2 7 6 8 7 0 9 1,0 3 1 3,717 Interdistrict settlement account 0 - 1,9 1 6 -17,5 6 3 + 6,5 6 5 + 5 3 6 + 4,7 3 8 + 5,3 1 0 + 2,9 9 6 + 5 8 8 - 3 9 6 + 7 3 7 + 3 6 9 - 1,962 Total assets 819,7 5 4 39,5 6 7 324,6 8 0 34,3 9 9 34,7 1 4 66,5 5 1 65,8 7 4 72,7 8 9 24,7 5 9 16,2 9 1 23,3 2 1 38,3 8 2 78,426 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 20, 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 872,4 2 6 39,3 2 5 334,9 0 0 37,2 3 4 35,1 6 4 66,8 9 4 82,0 3 7 76,0 3 6 25,6 5 3 16,4 8 6 25,4 3 2 43,8 9 4 89,371 Less: notes held by F.R. Banks 145,6 1 2 4,2 6 5 45,1 3 3 6,1 6 8 5,4 2 8 12,3 0 7 23,6 8 0 10,0 3 5 2,9 5 4 2,2 7 4 4,8 3 1 8,4 9 2 20,044 Federal Reserve notes, net 726,8 1 4 35,0 6 0 289,7 6 6 31,0 6 5 29,7 3 6 54,5 8 7 58,3 5 8 66,0 0 2 22,6 9 9 14,2 1 2 20,6 0 1 35,4 0 2 69,327 Reverse repurchase agreements1 28,1 9 6 1,4 4 3 11,1 8 1 1,0 0 0 1,1 9 1 2,1 5 2 2,1 8 1 2,5 3 9 8 7 5 5 8 9 7 9 7 1,3 8 9 2,859 Deposits 27,9 0 5 9 6 1 14,4 0 1 6 0 1 8 0 9 2,4 6 7 2,6 9 6 1,7 7 2 4 9 3 3 2 7 7 2 7 7 0 2 1,948 Depository institutions 22,6 5 3 9 4 5 9,3 0 6 5 9 9 8 0 5 2,3 4 8 2,6 9 4 1,7 6 8 4 9 0 3 2 6 7 2 6 7 0 1 1,944 U.S. Treasury, general account 4,6 6 0 0 4,6 6 0 0 0 0 0 0 0 0 0 0 0 Foreign official 2 8 3 5 2 5 5 1 4 7 2 3 1 1 1 0 4 Other 3 0 9 1 1 1 8 0 0 1 1 1 1 0 1 2 0 1 0 0 Deferred availability cash items 7,2 7 2 5 4 2 8 1 0 5 3 1 5 7 3 5 0 2 7 1 3 4 3 4 1 7 3 5 6 4 7 6 1 3 9 8 1,274 Other liabilities and accrued dividends2 3,2 5 1 1 7 7 1,1 0 3 1 2 9 1 6 5 3 0 2 2 7 1 3 0 8 1 2 6 9 6 1 0 7 1 7 3 293 Total liabilities 793,4 3 8 38,1 8 3 317,2 6 1 33,3 2 6 32,4 7 4 60,0 0 9 64,2 1 9 71,0 5 5 24,3 6 6 15,7 8 8 22,9 9 4 38,0 6 4 75,700 Capital Capital paid in 13,3 8 5 1 7 3 3,6 2 7 7 3 4 1,1 2 8 3,9 5 8 8 6 2 8 5 7 1 3 8 2 4 3 1 6 0 1 4 9 1,356 Surplus 11,4 8 4 1,2 0 8 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 4 8 3 3 6 2 4 6 4 7 4 3 6 2 7 7 1 1 4 2 0 5 1 4 3 5 88 Total liabilities and capital 819,7 5 4 39,5 6 7 324,6 8 0 34,3 9 9 34,7 1 4 66,5 5 1 65,8 7 4 72,7 8 9 24,7 5 9 16,2 9 1 23,3 2 1 38,3 8 2 78,426 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 20, 2005 Federal Reserve notes outstanding 872,426 Less: Notes held by F.R. Banks not subject to collateralization 145,612 Federal Reserve notes to be collateralized 726,814 Collateral held against Federal Reserve notes 726,814 Gold certificate account 11,037 Special drawing rights certificate account 2,200 U.S. Treasury and agency securities pledged1 713,577 Other assets pledged 0 Memo: Total U.S. Treasury and agency securities1 758,457 Less: face value of securities under reverse repurchase agreements 28,386 U.S. Treasury and agency securities eligible to be pledged 730,071 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.