FEDERAL RESERVE Statistical Release H.4.1 Factors Affecting Reserve Balances of Depository Institutions and Condition Statement of Federal Reserve Banks March 17, 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 16, 2005 Mar 9, 2005 Mar 17, 2004 Mar 16, 2005 Federal Reserve Banks Reserve Bank Credit 785,361 + 7,823 + 48,454 787,990 Securities held outright 717,512 + 10 + 44,426 717,515 U.S. Treasury (1) 717,512 + 10 + 44,426 717,515 Bills (2) 263,005 0 + 16,597 263,005 Notes and bonds, nominal (2) 433,096 0 + 22,533 433,096 Notes and bonds, inflation-indexed (2) 19,108 0 + 4,644 19,108 Inflation compensation (3) 2,302 + 10 + 652 2,306 Federal agency (2) 0 0 0 0 Repurchase agreements(4) 28,107 + 7,214 + 2,928 30,250 Loans to depository institutions 44 + 11 - 31 58 Primary credit 8 + 3 - 40 20 Secondary credit 0 0 0 0 Seasonal credit 35 + 6 + 8 38 Float -731 + 26 - 38 -392 Other Federal Reserve assets 40,430 + 563 + 1,169 40,558 Gold stock 11,042 0 - 3 11,042 Special drawing rights certificate account 2,200 0 0 2,200 Treasury currency outstanding (5) 36,518 + 14 + 811 36,518 Total factors supplying reserve funds 835,121 + 7,838 + 49,262 837,749 Currency in circulation(5) 751,925 + 396 + 37,979 753,306 Reverse repurchase agreements (6) 25,365 - 266 + 6,270 24,939 Foreign official and international accounts 25,365 - 266 + 6,270 24,939 Dealers 0 0 0 0 Treasury cash holdings 252 - 5 - 71 254 Deposits with F.R.Banks, other than reserve balances 15,295 + 1,075 - 2,003 14,637 U.S. Treasury, general account 5,118 + 814 - 619 4,746 Foreign official 88 + 5 + 2 82 Service-related 9,554 0 - 1,574 9,554 Required clearing balances 9,554 0 - 1,331 9,554 Adjustments to compensate for float 0 0 - 243 0 Other 535 + 256 + 188 254 Other liabilities and capital 28,128 + 395 + 7,592 27,837 Total factors, other than reserve balances, absorbing reserve funds 820,966 + 1,595 + 49,768 820,973 Reserve balances with Federal Reserve Banks 14,155 + 6,242 - 506 16,776 Memo (off-balance-sheet items): Marketable securities held in custody for foreign official and international accounts(2,7) 1,384,939 + 4,610 + 216,669 1,388,688 U.S. Treasury 1,085,148 + 4,796 + 152,014 1,087,883 Federal agency 299,791 - 186 + 64,655 300,806 Securities lent to dealers 1,823 + 123 - 916 1,578 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 16, 2005 Mar 9, 2005 Mar 17, 2004 Assets Gold certificate account 11,037 0 - 4 Special drawing rights certificate account 2,200 0 0 Coin 746 - 27 - 100 Securities, repurchase agreements, and loans 747,824 + 8,286 + 45,574 Securities held outright 717,515 + 10 + 44,362 U.S. Treasury (1) 717,515 + 10 + 44,362 Bills (2) 263,005 0 + 16,536 Notes and bonds, nominal (2) 433,096 0 + 22,533 Notes and bonds, inflation-indexed (2) 19,108 0 + 4,644 Inflation compensation (3) 2,306 + 10 + 649 Federal agency (2) 0 0 0 Repurchase agreements (4) 30,250 + 8,250 + 1,500 Loans 58 + 26 - 289 Items in process of collection (942) 6,654 - 645 + 739 Bank premises 1,797 + 4 + 144 Other assets (5) 38,729 + 364 + 1,105 Total assets (942) 808,987 + 7,982 + 47,458 Liabilities Federal Reserve notes net of FR Bank holdings 717,783 + 377 + 36,773 Reverse repurchase agreements (6) 24,939 - 491 + 6,169 Deposits (0) 31,373 + 8,234 - 3,116 Depository institutions 26,291 + 8,118 - 1,344 U.S. Treasury, general account 4,746 + 147 - 1,669 Foreign official 82 0 - 30 Other (0) 254 - 32 - 72 Deferred availability cash items (942) 7,055 - 140 + 372 Other liabilities and accrued dividends (7) 3,088 - 21 + 862 Total liabilities (942) 784,239 + 7,960 + 41,060 Capital Accounts Capital paid in 12,536 + 1 + 3,539 Surplus 11,247 + 31 + 2,455 Other capital accounts 966 - 9 + 406 Total capital 24,749 + 22 + 6,399 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 16, 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 22 54,797 + 7,727 0 0 30,250 24,939 16 days to 90 days 37 163,608 - 7,910 0 0 0 0 91 days to 1 year 0 159,093 + 182 0 0 ------ ------ Over 1 to 5 years ------ 212,798 + 4 0 0 ------ ------ Over 5 to 10 years ------ 50,281 + 2 0 0 ------ ------ Over 10 years ------ 76,938 + 4 0 0 ------ ------ All 58 717,515 + 10 0 0 30,250 24,939 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 16, 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 746 22 51 62 55 62 74 120 31 24 50 71 123 Securities, repurchase agreements, and loans 747,824 33,693 341,374 21,341 30,660 54,534 48,387 64,655 21,082 15,664 18,855 32,715 64,863 Securities held outright 717,515 33,693 311,124 21,341 30,660 54,534 48,387 64,633 21,080 15,650 18,855 32,715 64,844 U.S. Treasury (1) 717,515 33,693 311,124 21,341 30,660 54,534 48,387 64,633 21,080 15,650 18,855 32,715 64,844 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) 454,510 21,343 197,082 13,518 19,421 34,545 30,651 40,942 13,353 9,913 11,944 20,723 41,075 Federal agency (2) 0 0 0 0 0 0 0 0 0 0 0 0 0 Repurchase agreements(4) 30,250 0 30,250 0 0 0 0 0 0 0 0 0 0 Loans 58 1 0 0 0 0 0 23 2 14 0 0 19 Items in process of collection 7,596 352 396 346 650 436 1,026 557 317 346 570 392 2,208 Bank premises 1,797 102 201 53 157 143 275 170 64 122 83 260 166 Other assets(5) 38,729 3,383 14,983 1,037 2,610 5,147 2,000 2,662 900 793 670 917 3,626 Interdistrict settlement account 0 + 4,112 -30,443 + 7,068 + 1,450 + 2,513 + 7,046 + 612 + 1,539 - 831 + 1,384 + 706 + 4,844 Total Assets 809,929 42,275 332,084 30,372 36,137 63,801 59,869 69,913 24,329 16,367 21,981 35,684 77,119 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 16, 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 854,972 40,006 339,910 35,412 35,436 65,325 73,305 72,508 24,718 16,304 24,255 40,386 87,405 Less: notes held by F.R. Banks 137,189 4,762 41,301 7,875 5,306 12,548 19,610 8,974 2,972 1,878 4,471 7,316 20,175 Federal Reserve notes, net 717,783 35,244 298,609 27,537 30,131 52,777 53,695 63,534 21,745 14,426 19,784 33,071 67,230 Reverse repurchase agreements (1) 24,939 1,171 10,814 742 1,066 1,895 1,682 2,246 733 544 655 1,137 2,254 Deposits 31,373 2,405 13,567 744 2,184 3,398 2,176 1,630 819 346 596 670 2,837 Depository institutions 26,291 2,398 8,593 743 2,179 3,319 2,174 1,627 815 345 595 670 2,833 U.S. Treasury, general account 4,746 0 4,746 0 0 0 0 0 0 0 0 0 0 Foreign official 82 5 54 1 4 7 2 3 1 1 1 0 4 Other 254 2 173 0 1 72 0 1 3 0 1 0 0 Deferred availability cash items 7,997 646 785 628 512 520 1,099 574 170 439 523 347 1,753 Other liabilities and accrued dividends (2) 3,088 175 1,099 107 167 294 230 291 118 95 100 152 260 Total liabilities 785,180 39,641 324,873 29,759 34,060 58,884 58,882 68,275 23,586 15,850 21,659 35,378 74,334 Capital Capital paid in 12,536 1,554 3,492 299 1,098 2,539 428 799 403 254 155 143 1,372 Surplus 11,247 1,056 3,430 294 979 2,148 516 763 236 254 153 135 1,283 Other capital 966 23 290 20 0 230 43 76 104 8 14 28 129 Total liabilities and capital 809,929 42,275 332,084 30,372 36,137 63,801 59,869 69,913 24,329 16,367 21,981 35,684 77,119 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 16, 2005 Federal Reserve notes outstanding 854,972 Less: Notes held by F.R. Banks not subject to collateralization 137,189 Federal Reserve Notes to be collateralized 717,783 Collateral held against Federal Reserve notes 717,783 Gold certificate account 11,037 Special drawing rights certificate account 2,200 U.S. Treasury and agency securities pledged (1) 704,546 Other assets pledged 0 Memo: Total U.S. Treasury and agency securities (1) 747,765 Less:face value of securities under reverse repurchase agreements 24,958 U.S. Treasury and agency securities eligible to be pledged 722,807 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.