FEDERAL RESERVE Statistical Release H.4.1 Factors Affecting Reserve Balances of Depository Institutions and Condition Statement of Federal Reserve Banks May 12, 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 May 11, 2005 May 4, 2005 May 12, 2004 May 11, 2005 Federal Reserve Banks Reserve Bank Credit 783,258 - 3,182 + 41,948 789,996 Securities held outright 720,597 + 1,241 + 42,771 721,565 U.S. Treasury (1) 720,597 + 1,241 + 42,771 721,565 Bills (2) 264,078 + 1,073 + 13,915 264,263 Notes and bonds, nominal (2) 434,914 + 129 + 23,526 435,683 Notes and bonds, inflation-indexed (2) 19,108 0 + 4,644 19,108 Inflation compensation (3) 2,497 + 40 + 686 2,511 Federal agency (2) 0 0 0 0 Repurchase agreements(4) 21,036 - 5,107 - 2,035 26,000 Loans to depository institutions 134 + 23 + 24 138 Primary credit 8 + 3 - 8 1 Secondary credit 0 0 0 0 Seasonal credit 126 + 19 + 33 138 Float -642 + 484 - 258 97 Other Federal Reserve assets 42,134 + 177 + 1,447 42,196 Gold stock 11,041 0 - 4 11,041 Special drawing rights certificate account 2,200 0 0 2,200 Treasury currency outstanding (5) 36,615 + 14 + 753 36,615 Total factors supplying reserve funds 833,115 - 3,168 + 42,697 839,853 Currency in circulation(5) 754,587 + 862 + 35,036 756,014 Reverse repurchase agreements (6) 25,149 - 1,206 + 5,344 25,308 Foreign official and international accounts 25,149 - 1,206 + 5,344 25,308 Dealers 0 0 0 0 Treasury cash holdings 254 - 3 - 56 254 Deposits with F.R.Banks, other than reserve balances 14,480 + 154 - 1,889 14,419 U.S. Treasury, general account 4,993 + 130 - 442 4,998 Foreign official 123 + 22 + 20 79 Service-related 9,028 0 - 1,533 9,028 Required clearing balances 9,028 0 - 1,533 9,028 Adjustments to compensate for float 0 0 0 0 Other 336 + 1 + 66 315 Other liabilities and capital 28,913 + 114 + 8,082 28,627 Total factors, other than reserve balances, absorbing reserve funds 823,383 - 80 + 46,516 824,622 Reserve balances with Federal Reserve Banks 9,732 - 3,088 - 3,819 15,231 Memo (off-balance-sheet items): Marketable securities held in custody for foreign official and international accounts(2,7) 1,399,360 + 420 + 206,627 1,398,378 U.S. Treasury 1,073,809 - 3,299 + 110,374 1,073,504 Federal agency 325,551 + 3,718 + 96,253 324,874 Securities lent to dealers 1,683 - 1,809 + 621 1,509 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 May 11, 2005 May 4, 2005 May 12, 2004 Assets Gold certificate account 11,037 0 - 4 Special drawing rights certificate account 2,200 0 0 Coin 675 - 13 - 102 Securities, repurchase agreements, and loans 747,704 + 6,708 + 42,443 Securities held outright 721,565 + 2,193 + 43,730 U.S. Treasury (1) 721,565 + 2,193 + 43,730 Bills (2) 264,263 + 1,258 + 14,100 Notes and bonds, nominal (2) 435,683 + 898 + 24,295 Notes and bonds, inflation-indexed (2) 19,108 0 + 4,644 Inflation compensation (3) 2,511 + 38 + 691 Federal agency (2) 0 0 0 Repurchase agreements (4) 26,000 + 4,500 - 1,250 Loans 138 + 14 - 38 Items in process of collection (695) 6,600 - 945 + 872 Bank premises 1,814 + 4 + 142 Other assets (5) 40,200 + 214 + 1,168 Total assets (695) 810,230 + 5,968 + 44,519 Liabilities Federal Reserve notes net of FR Bank holdings 720,324 + 587 + 34,263 Reverse repurchase agreements (6) 25,308 - 752 + 6,597 Deposits (0) 29,416 + 7,252 - 4,395 Depository institutions 24,025 + 6,915 - 4,496 U.S. Treasury, general account 4,998 + 380 + 49 Foreign official 79 0 - 4 Other (0) 315 - 42 + 56 Deferred availability cash items (695) 6,555 - 1,102 - 24 Other liabilities and accrued dividends (7) 3,334 + 42 + 1,017 Total liabilities (695) 784,937 + 6,026 + 37,456 Capital Accounts Capital paid in 12,771 + 18 + 3,699 Surplus 11,412 + 15 + 2,604 Other capital accounts 1,110 - 90 + 760 Total capital 25,293 - 58 + 7,063 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, May 11, 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 17 64,301 + 450 0 0 26,000 25,308 16 days to 90 days 121 154,816 + 1,768 0 0 0 0 91 days to 1 year 0 160,101 - 960 0 0 ------ ------ Over 1 to 5 years ------ 213,945 + 140 0 0 ------ ------ Over 5 to 10 years ------ 51,144 + 779 0 0 ------ ------ Over 10 years ------ 77,258 + 17 0 0 ------ ------ All 138 721,565 + 2,193 0 0 26,000 25,308 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 May 11, 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 11,037 510 4,355 432 453 836 945 928 327 212 318 549 1,172 Special drawing rights certificate acct. 2,200 115 874 83 104 147 166 212 71 30 66 98 234 Coin 675 22 34 56 54 51 81 123 36 24 46 53 96 Securities, repurchase agreements, and loans 747,704 36,917 312,126 25,597 30,483 55,067 55,828 65,045 22,409 15,103 20,421 35,540 73,167 Securities held outright 721,565 36,917 286,126 25,597 30,483 55,067 55,824 64,980 22,391 15,070 20,409 35,538 73,162 U.S. Treasury (1) 721,565 36,917 286,126 25,597 30,483 55,067 55,824 64,980 22,391 15,070 20,409 35,538 73,162 Bills (2) 264,263 13,520 104,789 9,375 11,164 20,168 20,445 23,798 8,200 5,519 7,474 13,015 26,795 Notes and bonds(3) 457,303 23,397 181,336 16,223 19,319 34,900 35,379 41,182 14,191 9,551 12,934 22,523 46,368 Federal agency (2) 0 0 0 0 0 0 0 0 0 0 0 0 0 Repurchase agreements(4) 26,000 0 26,000 0 0 0 0 0 0 0 0 0 0 Loans 138 0 0 0 0 0 4 65 18 32 12 2 5 Items in process of collection 7,295 317 343 347 628 598 1,427 393 250 236 509 337 1,912 Bank premises 1,814 104 200 54 156 143 274 180 61 121 85 269 166 Other assets(5) 40,200 3,462 15,122 1,179 2,626 5,183 2,297 2,813 973 811 745 1,062 3,927 Interdistrict settlement account 0 - 100 - 2,877 + 3,736 + 1,506 + 2,150 + 1,177 + 1,422 - 152 - 132 - 310 - 2,863 - 3,556 Total Assets 810,925 41,347 330,176 31,483 36,009 64,176 62,196 71,116 23,976 16,406 21,879 35,045 77,117 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 May 11, 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 858,402 39,696 338,368 36,097 35,319 65,933 77,568 73,635 24,523 16,418 24,082 39,997 86,765 Less: notes held by F.R. Banks 138,078 4,414 40,104 7,345 5,216 12,212 22,566 9,441 2,926 2,011 4,500 7,885 19,458 Federal Reserve notes, net 720,324 35,282 298,264 28,752 30,103 53,721 55,002 64,194 21,597 14,407 19,582 32,112 67,306 Reverse repurchase agreements (1) 25,308 1,295 10,035 898 1,069 1,931 1,958 2,279 785 529 716 1,246 2,566 Deposits 29,416 1,348 12,824 528 1,850 2,613 2,722 2,252 655 369 711 893 2,652 Depository institutions 24,025 1,342 7,612 527 1,845 2,461 2,720 2,248 652 368 710 892 2,647 U.S. Treasury, general account 4,998 0 4,998 0 0 0 0 0 0 0 0 0 0 Foreign official 79 5 50 1 4 7 2 3 1 1 1 0 4 Other 315 1 164 0 1 145 0 1 2 0 1 0 0 Deferred availability cash items 7,250 524 788 560 655 513 933 387 158 491 443 309 1,489 Other liabilities and accrued dividends (2) 3,334 202 1,105 127 177 338 266 316 128 98 106 168 304 Total liabilities 785,632 38,651 323,016 30,864 33,856 59,116 60,881 69,428 23,324 15,894 21,558 34,727 74,317 Capital Capital paid in 12,771 1,550 3,504 303 1,100 2,560 660 830 321 253 155 148 1,386 Surplus 11,412 1,147 3,430 294 1,053 2,148 516 763 236 254 153 135 1,283 Other capital 1,110 0 226 22 0 351 139 94 95 4 13 35 131 Total liabilities and capital 810,925 41,347 330,176 31,483 36,009 64,176 62,196 71,116 23,976 16,406 21,879 35,045 77,117 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 May 11, 2005 Federal Reserve notes outstanding 858,402 Less: Notes held by F.R. Banks not subject to collateralization 138,078 Federal Reserve Notes to be collateralized 720,324 Collateral held against Federal Reserve notes 720,324 Gold certificate account 11,037 Special drawing rights certificate account 2,200 U.S. Treasury and agency securities pledged (1) 707,087 Other assets pledged 0 Memo: Total U.S. Treasury and agency securities (1) 747,565 Less:face value of securities under reverse repurchase agreements 25,326 U.S. Treasury and agency securities eligible to be pledged 722,239 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.