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.