FEDERAL RESERVE Statistical Release H.4.1 Factors Affecting Reserve Balances of Depository Institutions and Condition Statement of Federal Reserve Banks March 31, 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 30, 2005 Mar 23, 2005 Mar 31, 2004 Mar 30, 2005 Federal Reserve Banks Reserve Bank Credit 782,330 - 1,165 + 44,593 789,052 Securities held outright 717,532 + 10 + 43,495 717,536 U.S. Treasury (1) 717,532 + 10 + 43,495 717,536 Bills (2) 263,005 0 + 16,506 263,005 Notes and bonds, nominal (2) 433,096 0 + 21,708 433,096 Notes and bonds, inflation-indexed (2) 19,108 0 + 4,644 19,108 Inflation compensation (3) 2,322 + 10 + 636 2,326 Federal agency (2) 0 0 0 0 Repurchase agreements(4) 24,643 - 1,321 + 286 31,750 Loans to depository institutions 59 + 16 + 11 62 Primary credit 13 + 8 + 2 10 Secondary credit 0 0 0 0 Seasonal credit 46 + 8 + 10 52 Float -517 + 204 + 207 -999 Other Federal Reserve assets 40,614 - 73 + 595 40,703 Gold stock 11,041 - 1 - 4 11,041 Special drawing rights certificate account 2,200 0 0 2,200 Treasury currency outstanding (5) 36,546 + 14 + 785 36,546 Total factors supplying reserve funds 832,118 - 1,151 + 45,376 838,839 Currency in circulation(5) 753,037 + 1,053 + 38,649 755,241 Reverse repurchase agreements (6) 24,679 - 1,369 + 4,221 23,691 Foreign official and international accounts 24,679 - 1,369 + 4,221 23,691 Dealers 0 0 0 0 Treasury cash holdings 275 + 18 - 75 284 Deposits with F.R.Banks, other than reserve balances 13,642 - 399 - 2,341 14,267 U.S. Treasury, general account 4,592 - 376 - 654 5,198 Foreign official 83 - 5 - 1 102 Service-related 8,733 0 - 1,680 8,733 Required clearing balances 8,732 - 1 - 1,678 8,732 Adjustments to compensate for float 0 0 - 3 0 Other 235 - 17 - 6 235 Other liabilities and capital 27,686 - 289 + 6,783 27,674 Total factors, other than reserve balances, absorbing reserve funds 819,319 - 984 + 47,237 821,157 Reserve balances with Federal Reserve Banks 12,799 - 166 - 1,861 17,682 Memo (off-balance-sheet items): Marketable securities held in custody for foreign official and international accounts(2,7) 1,391,680 + 2,994 + 232,367 1,391,196 U.S. Treasury 1,085,048 - 424 + 159,662 1,081,549 Federal agency 306,632 + 3,419 + 72,705 309,647 Securities lent to dealers 3,276 + 586 + 2,381 7,588 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 30, 2005 Mar 23, 2005 Mar 31, 2004 Assets Gold certificate account 11,037 0 - 4 Special drawing rights certificate account 2,200 0 0 Coin 713 - 17 - 123 Securities, repurchase agreements, and loans 749,348 + 12,529 + 47,700 Securities held outright 717,536 + 10 + 43,452 U.S. Treasury (1) 717,536 + 10 + 43,452 Bills (2) 263,005 0 + 16,466 Notes and bonds, nominal (2) 433,096 0 + 21,708 Notes and bonds, inflation-indexed (2) 19,108 0 + 4,644 Inflation compensation (3) 2,326 + 10 + 634 Federal agency (2) 0 0 0 Repurchase agreements (4) 31,750 + 12,500 + 4,250 Loans 62 + 19 - 2 Items in process of collection (935) 5,529 - 2,192 - 184 Bank premises 1,806 + 5 + 143 Other assets (5) 38,731 + 149 + 225 Total assets (935) 809,365 + 10,476 + 47,759 Liabilities Federal Reserve notes net of FR Bank holdings 719,688 + 2,116 + 38,114 Reverse repurchase agreements (6) 23,691 - 800 + 1,990 Deposits (0) 31,783 + 9,092 + 630 Depository institutions 26,249 + 8,556 + 1,294 U.S. Treasury, general account 5,198 + 521 - 686 Foreign official 102 + 19 + 19 Other (0) 235 - 4 + 4 Deferred availability cash items (935) 6,529 - 126 + 231 Other liabilities and accrued dividends (7) 3,225 + 45 + 1,007 Total liabilities (935) 784,916 + 10,327 + 41,971 Capital Accounts Capital paid in 12,559 + 1 + 3,581 Surplus 11,177 - 23 + 2,330 Other capital accounts 714 + 172 - 122 Total capital 24,449 + 149 + 5,788 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 30, 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 58 54,851 + 86 0 0 31,750 23,691 16 days to 90 days 4 162,697 - 421 0 0 0 0 91 days to 1 year 0 159,950 + 335 0 0 ------ ------ Over 1 to 5 years ------ 212,806 + 4 0 0 ------ ------ Over 5 to 10 years ------ 50,284 + 1 0 0 ------ ------ Over 10 years ------ 76,947 + 4 0 0 ------ ------ All 62 717,536 + 10 0 0 31,750 23,691 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 30, 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 713 22 45 64 52 59 70 118 32 26 49 62 114 Securities, repurchase agreements, and loans 749,348 33,697 342,883 21,341 30,660 54,541 48,389 64,660 21,085 15,667 18,858 32,716 64,851 Securities held outright 717,536 33,694 311,133 21,341 30,660 54,536 48,389 64,634 21,080 15,650 18,856 32,716 64,846 U.S. Treasury (1) 717,536 33,694 311,133 21,341 30,660 54,536 48,389 64,634 21,080 15,650 18,856 32,716 64,846 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) 454,531 21,344 197,090 13,519 19,422 34,546 30,652 40,943 13,354 9,914 11,944 20,724 41,077 Federal agency (2) 0 0 0 0 0 0 0 0 0 0 0 0 0 Repurchase agreements(4) 31,750 0 31,750 0 0 0 0 0 0 0 0 0 0 Loans 62 3 0 0 0 5 0 25 4 16 3 0 6 Items in process of collection 6,465 361 441 298 730 346 716 486 227 247 459 252 1,902 Bank premises 1,806 103 199 53 157 143 275 175 65 122 83 263 167 Other assets(5) 38,731 3,319 15,059 1,128 2,564 5,069 2,017 2,682 877 788 675 938 3,613 Interdistrict settlement account 0 + 2,611 -25,813 + 7,532 + 549 + 442 + 6,876 + 853 + 1,465 - 540 + 1,358 + 544 + 4,122 Total Assets 810,300 40,722 338,335 30,883 35,270 61,566 59,403 70,109 24,147 16,558 21,851 35,398 76,058 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 30, 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 854,507 40,080 339,212 35,685 35,414 65,600 72,813 72,875 24,741 16,334 24,344 40,196 87,213 Less: notes held by F.R. Banks 134,820 4,729 38,448 7,787 5,302 12,695 19,806 9,066 2,951 1,807 4,647 7,405 20,175 Federal Reserve notes, net 719,688 35,351 300,763 27,898 30,112 52,906 53,007 63,810 21,790 14,526 19,696 32,790 67,038 Reverse repurchase agreements (1) 23,691 1,112 10,273 705 1,012 1,801 1,598 2,134 696 517 623 1,080 2,141 Deposits 31,783 917 18,370 997 1,444 1,264 2,522 1,684 650 383 696 675 2,183 Depository institutions 26,249 908 12,930 995 1,439 1,201 2,520 1,681 645 382 694 674 2,179 U.S. Treasury, general account 5,198 0 5,198 0 0 0 0 0 0 0 0 0 0 Foreign official 102 5 74 1 4 7 2 3 1 1 1 0 4 Other 235 4 168 1 1 55 0 0 4 0 1 0 0 Deferred availability cash items 7,464 582 664 565 479 436 1,060 526 143 524 419 389 1,675 Other liabilities and accrued dividends (2) 3,225 180 1,140 112 175 312 239 308 125 97 102 158 276 Total liabilities 785,851 38,142 331,209 30,277 33,222 56,718 58,426 68,462 23,404 16,048 21,536 35,093 73,314 Capital Capital paid in 12,559 1,554 3,491 300 1,099 2,539 428 817 405 254 155 143 1,372 Surplus 11,177 1,016 3,430 294 949 2,148 516 763 236 254 153 135 1,283 Other capital 714 10 205 12 0 160 33 66 102 2 7 27 89 Total liabilities and capital 810,300 40,722 338,335 30,883 35,270 61,566 59,403 70,109 24,147 16,558 21,851 35,398 76,058 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 30, 2005 Federal Reserve notes outstanding 854,507 Less: Notes held by F.R. Banks not subject to collateralization 134,820 Federal Reserve Notes to be collateralized 719,688 Collateral held against Federal Reserve notes 719,688 Gold certificate account 11,037 Special drawing rights certificate account 2,200 U.S. Treasury and agency securities pledged (1) 706,451 Other assets pledged 0 Memo: Total U.S. Treasury and agency securities (1) 749,286 Less:face value of securities under reverse repurchase agreements 23,708 U.S. Treasury and agency securities eligible to be pledged 725,577 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.