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 28, 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 27, 2005 Jul 20, 2005 Jul 28, 2004 Jul 27, 2005 Reserve Bank credit 793,287 - 2,986 + 41,062 796,177 Securities held outright 724,704 - 5 + 31,194 724,702 U.S. Treasury1 724,704 - 5 + 31,194 724,702 Bills2 265,015 0 + 9,767 265,015 Notes and bonds, nominal2 437,374 0 + 16,028 437,374 Notes and bonds, inflation-indexed2 19,533 0 + 4,671 19,533 Inflation compensation3 2,782 - 5 + 729 2,780 Federal agency2 0 0 0 0 Repurchase agreements4 28,643 - 3,000 + 10,036 31,000 Loans to depository institutions 344 - 23 + 81 748 Primary credit 11 - 117 - 26 12 Secondary credit 67 + 67 + 67 470 Seasonal credit 266 + 27 + 40 266 Float -806 - 265 - 288 -713 Other Federal Reserve assets 40,403 + 308 + 40 40,440 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 + 579 36,657 Total factors supplying reserve funds 843,185 - 2,971 + 41,638 846,075 Currency in circulation5 760,999 - 1,467 + 27,963 763,041 Reverse repurchase agreements6 27,995 + 1,364 + 8,036 27,277 Foreign official and international accounts 27,995 + 1,364 + 8,036 27,277 Dealers 0 0 0 0 Treasury cash holdings 244 + 8 - 45 252 Deposits with F.R. Banks, other than reserve balances 13,987 - 867 - 1,148 13,486 U.S. Treasury, general account 4,878 - 545 - 78 4,417 Foreign official 111 - 8 + 34 81 Service-related 8,697 - 309 - 1,105 8,697 Required clearing balances 8,697 - 309 - 1,105 8,697 Adjustments to compensate for float 0 0 0 0 Other 301 - 6 + 1 291 Other liabilities and capital 30,099 + 229 + 8,773 29,918 Total factors, other than reserve balances, absorbing reserve funds 833,324 - 733 + 43,578 833,975 Reserve balances with Federal Reserve Banks 9,862 - 2,237 - 1,939 12,100 Memo (off-balance-sheet items): Marketable securities held in custody for foreign official and international accounts2,7 1,454,039 + 8,008 + 214,613 1,457,721 U.S. Treasury 1,095,153 + 3,067 + 90,082 1,096,591 Federal agency 358,885 + 4,940 + 124,529 361,130 Securities lent to dealers 1,698 + 469 + 635 6,647 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 27, 2005 Jul 20, 2005 Jul 28, 2004 Assets Gold certificate account 11,037 0 - 3 Special drawing rights certificate account 2,200 0 0 Coin 625 + 5 - 110 Securities, repurchase agreements, and loans 756,450 - 2,997 + 40,801 Securities held outright 724,702 - 5 + 30,985 U.S. Treasury1 724,702 - 5 + 30,985 Bills2 265,015 0 + 9,767 Notes and bonds, nominal2 437,374 0 + 15,828 Notes and bonds, inflation-indexed2 19,533 0 + 4,671 Inflation compensation3 2,780 - 5 + 719 Federal agency2 0 0 0 Repurchase agreements4 31,000 - 2,750 + 9,500 Loans 748 - 242 + 316 Items in process of collection (885) 5,483 + 77 + 500 Bank premises 1,821 - 1 + 114 Other assets5 38,676 + 384 - 35 Total assets (885) 816,294 - 2,529 + 41,268 Liabilities Federal Reserve notes, net of F.R. Bank holdings 727,258 + 444 + 27,946 Reverse repurchase agreements6 27,277 - 919 + 7,914 Deposits (0) 25,644 - 2,261 - 3,825 Depository institutions 20,854 - 1,799 - 3,801 U.S. Treasury, general account 4,417 - 243 - 30 Foreign official 81 - 202 0 Other (0) 291 - 18 + 5 Deferred availability cash items (885) 6,197 - 144 + 433 Other liabilities and accrued dividends7 3,316 + 65 + 851 Total liabilities (885) 789,691 - 2,816 + 33,317 Capital accounts Capital paid in 13,389 + 4 + 4,143 Surplus 11,513 + 29 + 2,734 Other capital accounts 1,701 + 253 + 1,074 Total capital 26,603 + 287 + 7,951 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 27, 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 720 56,404 - 466 0 0 31,000 27,277 16 days to 90 days 29 158,996 - 414 0 0 0 0 91 days to 1 year 0 168,541 + 881 0 0 . . . . . . Over 1 year to 5 years . . . 209,725 - 2 0 0 . . . . . . Over 5 years to 10 years . . . 52,888 - 1 0 0 . . . . . . Over 10 years . . . 78,149 - 2 0 0 . . . . . . All 748 724,702 - 5 0 0 31,000 27,277 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 27, 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 5 1 2 3 4 2 9 4 8 5 4 9 5 9 5 3 5 1 6 5 0 6 5 93 Securities, repurchase agreements, and loans 756,4 5 0 37,0 7 8 318,8 4 0 25,7 0 9 30,6 1 5 55,3 0 7 56,0 7 9 65,3 6 3 22,5 3 7 15,2 0 8 20,5 1 9 35,6 9 9 73,497 Securities held outright 724,7 0 2 37,0 7 8 287,3 7 0 25,7 0 8 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 73,480 U.S. Treasury1 724,7 0 2 37,0 7 8 287,3 7 0 25,7 0 8 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 73,480 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 8 7 23,5 1 9 182,2 8 2 16,3 0 7 19,4 2 0 35,0 8 2 35,5 6 4 41,3 9 7 14,2 6 4 9,6 0 1 13,0 0 2 22,6 4 0 46,609 Federal agency2 0 0 0 0 0 0 0 0 0 0 0 0 0 Repurchase agreements4 31,0 0 0 0 31,0 0 0 0 0 0 0 0 0 0 0 0 0 Loans 7 4 8 0 4 7 0 1 0 0 1 2 1 0 0 4 9 7 3 2 1 6 17 Items in process of collection 6,3 6 9 4 2 9 3 3 4 2 9 6 4 2 4 2 8 1 8 5 4 5 6 2 2 1 5 3 0 2 7 4 7 4 2 0 1,506 Bank premises 1,8 2 1 1 0 6 2 0 5 5 4 1 5 7 1 4 3 2 7 4 1 9 3 6 4 1 2 1 7 6 2 6 4 165 Other assets5 38,6 7 6 3,2 9 4 14,6 5 1 1,1 7 2 2,5 0 7 4,9 2 2 2,1 8 2 2,7 0 8 9 3 4 7 7 8 7 2 0 1,0 4 7 3,761 Interdistrict settlement account 0 - 2,3 5 1 -16,8 6 7 + 6,6 2 6 + 9 6 6 + 4,1 9 6 + 4,1 8 2 + 3,0 3 1 + 6 8 1 - 6 1 0 + 7 5 4 + 6 3 2 - 1,239 Total assets 817,1 7 9 39,1 9 2 322,4 2 5 34,4 0 1 35,2 7 4 65,8 8 6 64,7 7 6 73,0 9 2 24,8 6 4 16,0 5 7 23,2 4 9 38,7 7 3 79,189 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 27, 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 874,3 7 4 39,4 2 6 334,6 0 6 37,2 2 1 35,3 6 5 67,1 1 4 81,8 8 1 76,1 5 5 25,9 1 3 16,5 5 8 25,6 4 8 44,5 5 3 89,932 Less: notes held by F.R. Banks 147,1 1 7 4,7 2 7 44,6 3 7 6,2 0 6 5,5 3 6 12,4 4 3 23,9 2 0 10,0 3 5 3,0 9 1 2,4 4 6 4,9 2 3 8,8 4 4 20,310 Federal Reserve notes, net 727,2 5 8 34,6 9 9 289,9 6 9 31,0 1 6 29,8 2 9 54,6 7 2 57,9 6 1 66,1 2 0 22,8 2 2 14,1 1 2 20,7 2 5 35,7 1 0 69,623 Reverse repurchase agreements1 27,2 7 7 1,3 9 6 10,8 1 6 9 6 8 1,1 5 2 2,0 8 2 2,1 1 0 2,4 5 6 8 4 6 5 7 0 7 7 2 1,3 4 3 2,766 Deposits 25,6 4 4 9 5 9 12,3 8 0 7 1 1 1,2 2 6 1,7 5 3 1,9 3 9 1,9 7 0 5 2 2 3 1 1 6 2 4 7 5 9 2,489 Depository institutions 20,8 5 4 9 5 0 7,7 3 8 7 0 9 1,2 2 0 1,6 3 8 1,9 3 7 1,9 6 7 5 1 9 3 1 0 6 2 2 7 5 9 2,485 U.S. Treasury, general account 4,4 1 7 0 4,4 1 7 0 0 0 0 0 0 0 0 0 0 Foreign official 8 1 5 5 3 1 4 7 2 3 1 1 1 0 4 Other 2 9 1 5 1 7 1 1 2 1 0 8 0 1 2 0 1 0 0 Deferred availability cash items 7,0 8 2 5 4 3 6 5 7 4 8 6 6 3 5 4 7 6 7 8 6 4 7 3 1 6 4 4 5 9 6 8 8 4 6 7 1,248 Other liabilities and accrued dividends2 3,3 1 6 1 8 0 1,1 2 2 1 3 1 1 6 8 3 2 0 2 7 6 3 1 2 1 2 8 9 7 1 0 8 1 7 4 299 Total liabilities 790,5 7 6 37,7 7 6 314,9 4 5 33,3 1 1 33,0 1 1 59,3 0 3 63,0 7 3 71,3 3 2 24,4 8 2 15,5 4 9 22,9 1 6 38,4 5 4 76,425 Capital Capital paid in 13,3 8 9 1 7 3 3,6 3 2 7 3 4 1,1 2 8 3,9 5 8 8 6 1 8 5 7 1 3 8 2 4 3 1 6 0 1 4 9 1,356 Surplus 11,5 1 3 1,2 3 6 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 1,7 0 1 7 4 1 9 6 2 7 1 4 7 7 3 2 6 1 4 0 8 1 0 2 0 3 5 126 Total liabilities and capital 817,1 7 9 39,1 9 2 322,4 2 5 34,4 0 1 35,2 7 4 65,8 8 6 64,7 7 6 73,0 9 2 24,8 6 4 16,0 5 7 23,2 4 9 38,7 7 3 79,189 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 27, 2005 Federal Reserve notes outstanding 874,374 Less: Notes held by F.R. Banks not subject to collateralization 147,117 Federal Reserve notes to be collateralized 727,258 Collateral held against Federal Reserve notes 727,258 Gold certificate account 11,037 Special drawing rights certificate account 2,200 U.S. Treasury and agency securities pledged1 714,021 Other assets pledged 0 Memo: Total U.S. Treasury and agency securities1 755,702 Less: face value of securities under reverse repurchase agreements 27,302 U.S. Treasury and agency securities eligible to be pledged 728,400 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.