FEDERAL RESERVE Statistical Release H.4.1 Factors Affecting Reserve Balances of Depository Institutions and Condition Statement of Federal Reserve Banks March 10, 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 Mar 9, 2005 Mar 2, 2005 Mar 10, 2004 Mar 9, 2005 Federal Reserve Banks Reserve Bank Credit 777,647 - 7,240 + 48,178 779,828 Securities held outright 717,502 - 184 + 44,910 717,505 U.S. Treasury (1) 717,502 - 184 + 44,910 717,505 Bills (2) 263,005 0 + 16,663 263,005 Notes and bonds, nominal (2) 433,096 - 190 + 22,533 433,096 Notes and bonds, inflation-indexed (2) 19,108 0 + 5,046 19,108 Inflation compensation (3) 2,292 + 6 + 667 2,296 Federal agency (2) 0 0 0 0 Repurchase agreements(4) 20,893 - 5,678 + 2,893 22,000 Loans to depository institutions 33 - 48 + 7 32 Primary credit 5 - 59 - 2 1 Secondary credit 0 0 0 0 Seasonal credit 29 + 12 + 10 31 Float -755 - 1,692 - 709 -646 Other Federal Reserve assets 39,974 + 362 + 1,078 40,937 Gold stock 11,042 0 - 3 11,042 Special drawing rights certificate account 2,200 0 0 2,200 Treasury currency outstanding (5) 36,504 + 14 + 824 36,504 Total factors supplying reserve funds 827,392 - 7,227 + 48,998 829,574 Currency in circulation(5) 751,529 - 278 + 37,788 752,889 Reverse repurchase agreements (6) 25,631 + 1,241 + 7,311 25,430 Foreign official and international accounts 25,631 + 1,241 + 7,311 25,430 Dealers 0 0 0 0 Treasury cash holdings 257 - 6 - 58 252 Deposits with F.R.Banks, other than reserve balances 14,220 - 17 - 2,729 14,521 U.S. Treasury, general account 4,304 - 895 - 1,223 4,599 Foreign official 83 0 - 11 82 Service-related 9,554 + 882 - 1,448 9,554 Required clearing balances 9,554 + 882 - 1,329 9,554 Adjustments to compensate for float 0 0 - 119 0 Other 279 - 4 - 48 286 Other liabilities and capital 27,841 + 261 + 7,634 27,836 Total factors, other than reserve balances, absorbing reserve funds 819,478 + 1,202 + 49,946 820,927 Reserve balances with Federal Reserve Banks 7,914 - 8,428 - 949 8,647 Memo (off-balance-sheet items): Marketable securities held in custody for foreign official and international accounts(2,7) 1,380,329 + 1,642 + 220,532 1,380,611 U.S. Treasury 1,080,352 + 599 + 154,678 1,081,558 Federal agency 299,977 + 1,043 + 65,854 299,053 Securities lent to dealers 1,700 - 303 - 810 736 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 Mar 9, 2005 Mar 2, 2005 Mar 10, 2004 Assets Gold certificate account 11,037 0 - 4 Special drawing rights certificate account 2,200 0 0 Coin 773 - 20 - 84 Securities, repurchase agreements, and loans 739,538 - 2,533 + 47,730 Securities held outright 717,505 + 10 + 44,466 U.S. Treasury (1) 717,505 + 10 + 44,466 Bills (2) 263,005 0 + 16,633 Notes and bonds, nominal (2) 433,096 0 + 22,533 Notes and bonds, inflation-indexed (2) 19,108 0 + 4,644 Inflation compensation (3) 2,296 + 10 + 657 Federal agency (2) 0 0 0 Repurchase agreements (4) 22,000 - 2,250 + 3,250 Loans 32 - 293 + 13 Items in process of collection (1,108) 6,549 - 830 + 392 Bank premises 1,793 + 2 + 142 Other assets (5) 39,115 + 1,400 + 1,983 Total assets (1,108) 801,005 - 1,981 + 50,160 Liabilities Federal Reserve notes net of FR Bank holdings 717,406 + 254 + 36,934 Reverse repurchase agreements (6) 25,430 + 55 + 6,239 Deposits (0) 23,139 - 2,038 - 1,016 Depository institutions 18,173 - 1,715 - 1,105 U.S. Treasury, general account 4,599 - 307 + 184 Foreign official 82 - 1 - 56 Other (0) 286 - 15 - 38 Deferred availability cash items (1,108) 7,195 - 841 + 410 Other liabilities and accrued dividends (7) 3,109 + 76 + 853 Total liabilities (1,108) 776,279 - 2,495 + 43,420 Capital Accounts Capital paid in 12,535 + 13 + 3,564 Surplus 11,216 + 91 + 2,535 Other capital accounts 975 + 410 + 641 Total capital 24,727 + 514 + 6,741 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, March 9, 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 1 47,070 - 927 0 0 22,000 25,430 16 days to 90 days 31 171,518 + 844 0 0 0 0 91 days to 1 year 0 158,911 + 84 0 0 ------ ------ Over 1 to 5 years ------ 212,794 + 4 0 0 ------ ------ Over 5 to 10 years ------ 50,279 + 2 0 0 ------ ------ Over 10 years ------ 76,934 + 5 0 0 ------ ------ All 32 717,505 + 10 0 0 22,000 25,430 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 March 9, 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 11,037 494 4,647 382 452 819 894 924 325 218 302 525 1,055 Special drawing rights certificate acct. 2,200 115 874 83 104 147 166 212 71 30 66 98 234 Coin 773 22 51 61 57 67 78 122 34 25 53 76 127 Securities, repurchase agreements, and loans 739,538 33,692 333,120 21,340 30,659 54,534 48,387 64,648 21,080 15,665 18,855 32,715 64,844 Securities held outright 717,505 33,692 311,120 21,340 30,659 54,534 48,387 64,632 21,080 15,650 18,855 32,715 64,843 U.S. Treasury (1) 717,505 33,692 311,120 21,340 30,659 54,534 48,387 64,632 21,080 15,650 18,855 32,715 64,843 Bills (2) 263,005 12,350 114,042 7,822 11,238 19,990 17,736 23,691 7,727 5,736 6,911 11,992 23,769 Notes and bonds(3) 454,500 21,342 197,077 13,518 19,421 34,544 30,650 40,941 13,353 9,913 11,943 20,723 41,075 Federal agency (2) 0 0 0 0 0 0 0 0 0 0 0 0 0 Repurchase agreements(4) 22,000 0 22,000 0 0 0 0 0 0 0 0 0 0 Loans 32 0 0 0 0 0 0 16 0 15 0 0 1 Items in process of collection 7,657 650 811 403 751 423 846 550 303 345 585 -351 2,340 Bank premises 1,793 102 198 53 157 143 275 170 64 122 82 260 166 Other assets(5) 39,115 3,362 14,812 1,024 2,598 5,112 1,996 2,632 890 785 658 1,651 3,594 Interdistrict settlement account 0 + 2,930 -25,402 + 6,720 + 255 + 1,767 + 6,502 + 514 + 1,412 - 785 + 1,352 + 719 + 4,017 Total Assets 802,114 41,368 329,112 30,065 35,033 63,012 59,144 69,772 24,178 16,406 21,953 35,691 76,378 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 March 9, 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 855,115 40,157 340,639 35,256 35,542 65,263 72,930 72,588 24,739 16,372 24,318 40,312 87,000 Less: notes held by F.R. Banks 137,709 4,767 42,216 7,900 5,283 12,299 19,368 9,056 2,859 1,949 4,587 7,248 20,178 Federal Reserve notes, net 717,406 35,389 298,423 27,356 30,259 52,964 53,562 63,533 21,880 14,423 19,731 33,064 66,822 Reverse repurchase agreements (1) 25,430 1,194 11,027 756 1,087 1,933 1,715 2,291 747 555 668 1,159 2,298 Deposits 23,139 1,127 10,347 615 975 2,305 1,506 1,499 549 350 648 702 2,516 Depository institutions 18,173 1,119 5,533 614 970 2,222 1,504 1,496 545 349 608 701 2,511 U.S. Treasury, general account 4,599 0 4,599 0 0 0 0 0 0 0 0 0 0 Foreign official 82 5 53 1 4 7 2 3 1 1 1 0 4 Other 286 3 162 0 1 76 0 0 3 0 39 1 0 Deferred availability cash items 8,303 873 947 612 485 630 1,118 516 152 459 481 304 1,727 Other liabilities and accrued dividends (2) 3,109 174 1,093 108 168 298 244 294 119 96 101 153 261 Total liabilities 777,387 38,758 321,836 29,447 32,973 58,129 58,146 68,133 23,447 15,883 21,629 35,382 73,625 Capital Capital paid in 12,535 1,554 3,491 299 1,098 2,539 428 798 403 254 155 143 1,372 Surplus 11,216 1,042 3,430 294 962 2,148 516 763 236 254 153 135 1,283 Other capital 975 14 355 25 0 196 55 77 93 15 16 31 98 Total liabilities and capital 802,114 41,368 329,112 30,065 35,033 63,012 59,144 69,772 24,178 16,406 21,953 35,691 76,378 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 Mar 9, 2005 Federal Reserve notes outstanding 855,115 Less: Notes held by F.R. Banks not subject to collateralization 137,709 Federal Reserve Notes to be collateralized 717,406 Collateral held against Federal Reserve notes 717,406 Gold certificate account 11,037 Special drawing rights certificate account 2,200 U.S. Treasury and agency securities pledged (1) 704,169 Other assets pledged 0 Memo: Total U.S. Treasury and agency securities (1) 739,505 Less:face value of securities under reverse repurchase agreements 25,448 U.S. Treasury and agency securities eligible to be pledged 714,057 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.