FEDERAL RESERVE Statistical Release H.4.1 Factors Affecting Reserve Balances of Depository Institutions and Condition Statement of Federal Reserve Banks January 6, 2005 1. Factors Affecting Reserve Balances of Depository Institutions Millions of dollars Averages of daily figures Reserve Bank credit, related items, and Week ended Change from week ended Wednesday reserve balances of depository institutions at Jan 5, 2005 Dec 29, 2004 Jan 7, 2004 Jan 5, 2005 Federal Reserve Banks Reserve Bank Credit 791,658 + 1,033 + 48,359 793,421 Securities held outright 717,819 + 92 + 51,115 717,821 U.S. Treasury (1) 717,819 + 92 + 51,115 717,821 Bills (2) 262,970 + 78 + 18,093 262,970 Notes and bonds, nominal (2) 436,429 0 + 30,256 436,429 Notes and bonds, inflation-indexed (2) 16,108 0 + 2,114 16,108 Inflation compensation (3) 2,312 + 14 + 653 2,313 Federal agency (2) 0 0 0 0 Repurchase agreements(4) 33,214 + 2,143 - 1,465 34,500 Loans to depository institutions 53 - 1 + 29 44 Primary credit 19 + 10 + 7 21 Secondary credit 0 0 0 0 Seasonal credit 35 - 10 + 24 23 Float 963 - 1,537 - 385 1,852 Other Federal Reserve assets 39,607 + 335 - 938 39,204 Gold stock 11,045 + 1 + 2 11,045 Special drawing rights certificate account 2,200 0 0 2,200 Treasury currency outstanding (5) 36,490 + 14 + 1,002 36,490 Total factors supplying reserve funds 841,392 + 1,048 + 49,362 843,155 Currency in circulation(5) 755,083 - 1,858 + 33,922 753,980 Reverse repurchase agreements (6) 29,902 - 230 + 7,425 28,647 Foreign official and international accounts 29,902 - 230 + 7,782 28,647 Dealers 0 0 - 357 0 Treasury cash holdings 271 + 3 - 50 276 Deposits with F.R.Banks, other than reserve balances 16,822 + 1,851 - 1,261 15,131 U.S. Treasury, general account 5,650 + 1,019 + 331 4,791 Foreign official 174 + 94 + 79 93 Service-related 10,018 - 5 - 2,004 10,018 Required clearing balances 10,018 - 5 - 1,812 10,018 Adjustments to compensate for float 0 0 - 192 0 Other 980 + 743 + 333 229 Other liabilities and capital 26,088 - 531 + 5,963 25,519 Total factors, other than reserve balances, absorbing reserve funds 828,165 - 766 + 45,998 823,553 Reserve balances with Federal Reserve Banks 13,227 + 1,814 + 3,364 19,602 Memo (off-balance-sheet items): Marketable securities held in custody for foreign official and international accounts(2,7) 1,344,210 + 8,430 + 271,550 1,347,153 U.S. Treasury 1,067,145 + 4,936 + 205,141 1,067,470 Federal agency 277,065 + 3,494 + 66,409 279,683 Securities lent to dealers 5,607 + 3,557 + 2,407 2,789 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. 2. Consolidated Statement of Condition of All Federal Reserve Banks Millions of Dollars Eliminations Change Since from Wednesday Wednesday Wednesday Assets, liabilities, and capital consolidation Jan 5, 2005 Dec 29, 2004 Jan 7, 2004 Assets Gold certificate account 11,041 0 + 2 Special drawing rights certificate account 2,200 0 0 Coin 719 + 2 - 6 Securities, repurchase agreements, and loans 752,365 + 1,495 + 61,634 Securities held outright 717,821 + 8 + 51,101 U.S. Treasury (1) 717,821 + 8 + 51,101 Bills (2) 262,970 0 + 18,073 Notes and bonds, nominal (2) 436,429 0 + 30,256 Notes and bonds, inflation-indexed (2) 16,108 0 + 2,114 Inflation compensation (3) 2,313 + 7 + 658 Federal agency (2) 0 0 0 Repurchase agreements (4) 34,500 + 1,500 + 10,500 Loans 44 - 13 + 33 Items in process of collection (1,060) 9,541 + 3,437 - 1,700 Bank premises 1,774 - 13 + 150 Other assets (5) 39,627 - 132 + 468 Total assets (1,060) 817,267 + 4,789 + 60,549 Liabilities Federal Reserve notes net of FR Bank holdings 718,481 - 4,423 + 35,090 Reverse repurchase agreements (6) 28,647 - 1,291 + 9,060 Deposits (1) 36,930 + 9,454 + 11,850 Depository institutions 31,818 + 10,385 + 11,962 U.S. Treasury, general account 4,791 - 943 - 124 Foreign official 93 + 6 + 9 Other (1) 229 + 8 + 4 Deferred availability cash items (1,060) 7,689 + 2,055 - 590 Other liabilities and accrued dividends (7) 2,745 - 448 + 643 Total liabilities (1,060) 794,493 + 5,348 + 56,055 Capital Accounts Capital paid in 11,846 + 205 + 2,995 Surplus 10,820 + 1,973 + 1,973 Other capital accounts 109 - 2,736 - 474 Total capital 22,774 - 559 + 4,493 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 securites. 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, January 5, 2005 Millions of dollars U.S. Treasury Federal agency Reverse Maturity Loans securities (1) securities Repurchase repurchase Weekly Weekly agreements(2)agreements(2) Holdings changes Holdings changes Within 15 days 29 46,224 - 7,887 0 0 34,500 28,647 16 days to 90 days 15 162,778 + 8,372 0 0 0 0 91 days to 1 year 0 170,411 - 445 0 0 ------ ------ Over 1 to 5 years ------ 208,270 - 36 0 0 ------ ------ Over 5 to 10 years ------ 54,373 + 2 0 0 ------ ------ Over 10 years ------ 75,766 + 3 0 0 ------ ------ All 44 717,821 + 8 0 0 34,500 28,647 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. 4. Statement of Condition of Each Federal Reserve Bank on January 5, 2005 Millions of dollars Kansas San Assets, liabilities, and capital Total Boston New York Philadelphia Cleveland Richmond Atlanta Chicago St. Louis Minneapolis City Dallas Francisco Assets Gold certificate account 11,041 494 4,651 382 452 819 894 924 325 218 302 525 1,055 Special drawing rights certificate acct. 2,200 115 874 83 104 147 166 212 71 30 66 98 234 Coin 719 18 43 55 51 63 81 113 34 22 47 88 105 Securities, repurchase agreements, and loans 752,365 33,710 345,778 21,355 30,673 54,558 48,409 64,669 21,089 15,660 18,864 32,729 64,872 Securities held outright 717,821 33,707 311,257 21,350 30,673 54,558 48,408 64,660 21,089 15,657 18,863 32,729 64,872 U.S. Treasury (1) 717,821 33,707 311,257 21,350 30,673 54,558 48,408 64,660 21,089 15,657 18,863 32,729 64,872 Bills (2) 262,970 12,348 114,027 7,821 11,237 19,987 17,734 23,688 7,726 5,736 6,910 11,990 23,765 Notes and bonds(3) 454,851 21,359 197,229 13,528 19,436 34,571 30,674 40,972 13,363 9,921 11,953 20,739 41,106 Federal agency (2) 0 0 0 0 0 0 0 0 0 0 0 0 0 Repurchase agreements(4) 34,500 0 34,500 0 0 0 0 0 0 0 0 0 0 Loans 44 3 21 6 0 0 2 8 0 4 1 0 0 Items in process of collection 10,602 489 527 462 904 407 978 1,142 636 630 938 501 2,987 Bank premises 1,774 99 196 53 157 144 277 159 67 123 82 252 167 Other assets(5) 39,627 1,799 14,124 1,153 2,468 6,279 2,286 3,595 1,036 1,180 810 989 3,909 Interdistrict settlement account 0 + 3,134 -24,128 + 4,253 - 501 + 2,574 + 9,286 - 478 + 1,080 - 1,073 + 1,232 + 1,239 + 3,382 Total Assets 818,327 39,857 342,064 27,796 34,307 64,990 62,377 70,334 24,338 16,790 22,341 36,420 76,712 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. 4. Statement of Condition of Each Federal Reserve Bank on January 5, 2005 Millions of dollars Kansas San Assets, liabilities, and capital Total Boston New York Philadelphia Cleveland Richmond Atlanta Chicago St. Louis Minneapolis City Dallas Francisco Liabilities Federal Reserve notes outstanding 848,675 38,274 338,117 32,577 34,484 64,992 72,925 72,808 24,979 16,429 24,457 40,965 87,668 Less: notes held by F.R. Banks 130,193 4,216 36,322 8,027 5,356 12,203 17,387 9,056 2,884 1,996 4,441 7,454 20,853 Federal Reserve notes, net 718,481 34,058 301,795 24,550 29,127 52,789 55,538 63,752 22,096 14,433 20,016 33,512 66,815 Reverse repurchase agreements (1) 28,647 1,345 12,422 852 1,224 2,177 1,932 2,580 842 625 753 1,306 2,589 Deposits 36,931 1,200 19,149 1,222 1,118 4,879 2,794 1,702 643 345 713 814 2,353 Depository institutions 31,818 1,196 14,129 1,221 1,115 4,811 2,792 1,699 640 344 711 812 2,349 U.S. Treasury, general account 4,791 0 4,791 0 0 0 0 0 0 0 0 0 0 Foreign official 93 2 70 1 2 7 2 3 1 1 1 0 4 Other 230 2 159 0 0 61 0 1 2 0 2 1 0 Deferred availability cash items 8,749 578 805 485 813 646 948 498 177 800 459 365 2,173 Other liabilities and accrued dividends (2) 2,745 146 966 99 144 259 214 262 108 85 93 143 226 Total liabilities 795,553 37,327 335,137 27,209 32,427 60,750 61,425 68,795 23,865 16,288 22,033 36,140 74,157 Capital Capital paid in 11,846 1,638 3,430 294 1,066 2,148 424 784 236 254 154 135 1,283 Surplus 10,820 890 3,430 293 810 2,092 516 755 236 247 153 135 1,264 Other capital 109 3 68 0 4 0 12 0 2 0 1 11 8 Total liabilities and capital 818,327 39,857 342,064 27,796 34,307 64,990 62,377 70,334 24,338 16,790 22,341 36,420 76,712 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 Federal Reserve notes and collateral Wednesday Jan 5, 2005 Federal Reserve notes outstanding 848,675 Less: Notes held by F.R. Banks not subject to collateralization 130,193 Federal Reserve Notes to be collateralized 718,481 Collateral held against Federal Reserve notes 718,481 Gold certificate account 11,041 Special drawing rights certificate account 2,200 U.S. Treasury and agency securities pledged (1) 705,241 Other assets pledged 0 Memo: Total U.S. Treasury and agency securities (1) 752,321 Less:face value of securities under reverse repurchase agreements 28,665 U.S. Treasury and agency securities eligible to be pledged 723,656 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.