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.