FEDERAL RESERVE Statistical Release H.4.1 Factors Affecting Reserve Balances of Depository Institutions and Condition Statement of Federal Reserve Banks January 13, 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 12, 2005 Jan 5, 2005 Jan 14, 2004 Jan 12, 2005 Federal Reserve Banks Reserve Bank Credit 780,682 - 10,975 + 51,196 777,138 Securities held outright 717,822 + 3 + 51,024 717,823 U.S. Treasury (1) 717,822 + 3 + 51,024 717,823 Bills (2) 262,970 0 + 17,989 262,970 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) 2,315 + 3 + 666 2,316 Federal agency (2) 0 0 0 0 Repurchase agreements(4) 22,893 - 10,321 + 1,750 18,250 Loans to depository institutions 65 + 12 + 20 50 Primary credit 45 + 26 + 6 27 Secondary credit 0 0 0 0 Seasonal credit 20 - 15 + 14 23 Float 645 - 317 + 316 1,272 Other Federal Reserve assets 39,257 - 350 - 1,915 39,743 Gold stock 11,045 0 + 2 11,045 Special drawing rights certificate account 2,200 0 0 2,200 Treasury currency outstanding (5) 36,519 + 14 + 1,011 36,519 Total factors supplying reserve funds 830,446 - 10,961 + 52,209 826,902 Currency in circulation(5) 750,124 - 4,974 + 36,974 749,388 Reverse repurchase agreements (6) 29,964 + 62 + 9,521 27,231 Foreign official and international accounts 29,964 + 62 + 10,485 27,231 Dealers 0 0 - 964 0 Treasury cash holdings 273 + 2 - 51 250 Deposits with F.R.Banks, other than reserve balances 15,064 - 1,758 - 741 14,917 U.S. Treasury, general account 5,145 - 505 + 259 4,951 Foreign official 79 - 95 - 8 88 Service-related 9,593 - 425 - 942 9,593 Required clearing balances 9,593 - 425 - 589 9,593 Adjustments to compensate for float 0 0 - 352 0 Other 247 - 733 - 51 284 Other liabilities and capital 25,705 - 383 + 5,023 26,195 Total factors, other than reserve balances, absorbing reserve funds 821,129 - 7,051 + 50,723 817,981 Reserve balances with Federal Reserve Banks 9,316 - 3,910 + 1,485 8,921 Memo (off-balance-sheet items): Marketable securities held in custody for foreign official and international accounts(2,7) 1,351,056 + 6,846 + 268,125 1,341,811 U.S. Treasury 1,071,560 + 4,415 + 205,930 1,064,598 Federal agency 279,496 + 2,431 + 62,194 277,213 Securities lent to dealers 2,669 - 2,938 + 213 3,941 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 12, 2005 Jan 5, 2005 Jan 14, 2004 Assets Gold certificate account 11,041 0 + 2 Special drawing rights certificate account 2,200 0 0 Coin 737 + 18 - 15 Securities, repurchase agreements, and loans 736,123 - 16,242 + 45,311 Securities held outright 717,823 + 2 + 51,025 U.S. Treasury (1) 717,823 + 2 + 51,025 Bills (2) 262,970 0 + 17,985 Notes and bonds, nominal (2) 436,429 0 + 30,256 Notes and bonds, inflation-indexed (2) 16,108 0 + 2,114 Inflation compensation (3) 2,316 + 3 + 670 Federal agency (2) 0 0 0 Repurchase agreements (4) 18,250 - 16,250 - 5,750 Loans 50 + 6 + 36 Items in process of collection (813) 7,994 - 1,547 + 427 Bank premises 1,776 + 2 + 151 Other assets (5) 40,161 + 534 + 457 Total assets (813) 800,032 - 17,235 + 46,333 Liabilities Federal Reserve notes net of FR Bank holdings 713,851 - 4,630 + 36,411 Reverse repurchase agreements (6) 27,231 - 1,416 + 6,510 Deposits (0) 26,032 - 10,898 - 1,278 Depository institutions 20,709 - 11,109 - 794 U.S. Treasury, general account 4,951 + 160 - 447 Foreign official 88 - 5 + 7 Other (0) 284 + 55 - 44 Deferred availability cash items (813) 6,723 - 966 - 1,184 Other liabilities and accrued dividends (7) 2,803 + 58 + 623 Total liabilities (813) 776,640 - 17,853 + 41,081 Capital Accounts Capital paid in 12,008 + 162 + 3,133 Surplus 10,953 + 133 + 2,106 Other capital accounts 431 + 322 + 12 Total capital 23,392 + 618 + 5,251 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 12, 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 38 46,453 + 229 0 0 18,250 27,231 16 days to 90 days 12 163,095 + 317 0 0 0 0 91 days to 1 year 0 169,865 - 546 0 0 ------ ------ Over 1 to 5 years ------ 208,270 0 0 0 ------ ------ Over 5 to 10 years ------ 54,373 0 0 0 ------ ------ Over 10 years ------ 75,766 0 0 0 ------ ------ All 50 717,823 + 2 0 0 18,250 27,231 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 12, 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 737 18 46 55 52 67 81 117 34 23 46 89 108 Securities, repurchase agreements, and loans 736,123 33,712 329,520 21,357 30,673 54,558 48,408 64,668 21,089 15,661 18,864 32,729 64,886 Securities held outright 717,823 33,707 311,258 21,350 30,673 54,558 48,408 64,660 21,089 15,657 18,863 32,729 64,872 U.S. Treasury (1) 717,823 33,707 311,258 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) 454,853 21,359 197,230 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) 18,250 0 18,250 0 0 0 0 0 0 0 0 0 0 Loans 50 5 12 7 0 0 0 7 0 4 1 0 14 Items in process of collection 8,807 532 474 373 665 464 732 735 402 535 1,118 348 2,428 Bank premises 1,776 100 196 53 157 144 277 159 67 123 82 252 167 Other assets(5) 40,161 1,832 14,305 1,170 2,496 6,351 2,319 3,647 1,053 1,195 822 1,007 3,965 Interdistrict settlement account 0 + 2,702 -14,756 + 3,731 - 901 - 991 + 7,460 - 774 + 1,125 - 1,314 + 731 + 846 + 2,140 Total Assets 800,845 39,506 335,309 27,204 33,698 61,560 60,338 69,688 24,166 16,469 22,031 35,893 74,983 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 12, 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 850,690 38,429 340,560 32,502 34,417 64,887 72,733 72,976 24,914 16,484 24,438 40,827 87,522 Less: notes held by F.R. Banks 136,839 4,516 39,392 8,181 5,584 12,561 17,995 9,552 3,000 2,042 4,563 7,657 21,797 Federal Reserve notes, net 713,851 33,914 301,168 24,321 28,833 52,326 54,738 63,424 21,914 14,442 19,875 33,170 65,725 Reverse repurchase agreements (1) 27,231 1,279 11,808 810 1,164 2,070 1,836 2,453 800 594 716 1,242 2,461 Deposits 26,032 1,052 13,507 893 1,052 1,994 1,651 1,529 530 358 638 715 2,113 Depository institutions 20,709 1,049 8,337 892 1,048 1,864 1,649 1,525 528 357 636 714 2,109 U.S. Treasury, general account 4,951 0 4,951 0 0 0 0 0 0 0 0 0 0 Foreign official 88 2 65 1 2 7 2 3 1 1 1 0 4 Other 284 2 154 0 1 122 0 0 2 0 1 0 0 Deferred availability cash items 7,536 556 766 477 598 608 906 422 164 473 388 333 1,845 Other liabilities and accrued dividends (2) 2,803 153 983 102 147 260 220 269 110 88 95 144 230 Total liabilities 777,453 36,954 328,233 26,604 31,794 57,257 59,351 68,097 23,519 15,955 21,712 35,603 72,374 Capital Capital paid in 12,008 1,638 3,430 294 1,066 2,148 424 785 398 253 154 135 1,283 Surplus 10,953 905 3,430 294 838 2,148 516 763 236 254 152 135 1,283 Other capital 431 10 217 13 0 6 47 42 13 7 13 20 43 Total liabilities and capital 800,845 39,506 335,309 27,204 33,698 61,560 60,338 69,688 24,166 16,469 22,031 35,893 74,983 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 12, 2005 Federal Reserve notes outstanding 850,690 Less: Notes held by F.R. Banks not subject to collateralization 136,839 Federal Reserve Notes to be collateralized 713,851 Collateral held against Federal Reserve notes 713,851 Gold certificate account 11,041 Special drawing rights certificate account 2,200 U.S. Treasury and agency securities pledged (1) 700,611 Other assets pledged 0 Memo: Total U.S. Treasury and agency securities (1) 736,073 Less:face value of securities under reverse repurchase agreements 27,247 U.S. Treasury and agency securities eligible to be pledged 708,826 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.