Reserve Bank credit, related items, and

reserve balances of depository institutions

at Federal Reserve Banks

Reserve Bank credit 780,772 - 2,931 + 48,717 783,514

Securities held outright 717,845 - 21 + 46,936 717,839

U.S. Treasury1 717,845 - 21 + 46,936 717,839

Bills2 263,005 0 + 16,918 263,005

Notes and bonds, nominal2 433,429 0 + 24,211 433,429

Notes and bonds, inflation-indexed2 19,108 0 + 5,114 19,108

Inflation compensation3 2,303 - 21 + 694 2,297

Federal agency2 0 0 0 0

Repurchase agreements4 23,964 + 35 + 964 25,250

Loans to depository institutions 21 - 2 - 31 24

Primary credit 5 - 4 - 32 6

Secondary credit 0 0 0 0

Seasonal credit 16 + 2 0 19

Float -308 - 720 + 233 913

Other Federal Reserve assets 39,250 - 2,223 + 615 39,488

Gold stock 11,042 0 - 1 11,042

Special drawing rights certificate account 2,200 0 0 2,200

Treasury currency outstanding5 36,532 + 14 + 903 36,532

Total factors supplying reserve funds 830,547 - 2,916 + 49,620 833,289

Currency in circulation5 753,257 + 2,087 + 39,048 753,834

Reverse repurchase agreements6 23,857 - 3,187 + 3,431 23,474

Foreign official and international accounts 23,857 - 3,187 + 3,431 23,474

Dealers 0 0 0 0

Treasury cash holdings 269 - 11 - 53 263

Deposits with F.R. Banks, other than reserve balances 14,300 - 773 - 1,964 13,515

U.S. Treasury, general account 5,250 + 326 + 103 4,487

Foreign official 81 - 1 - 4 81

Service-related 8,672 - 1,100 - 2,045 8,672

Required clearing balances 8,671 - 1,101 - 1,409 8,671

Adjustments to compensate for float 0 0 - 637 0

Other 296 0 - 19 275

Other liabilities and capital 27,435 + 485 + 7,210 27,300

Total factors, other than reserve balances,

absorbing reserve funds 819,119 - 1,399 + 47,673 818,387

Reserve balances with Federal Reserve Banks 11,428 - 1,517 + 1,947 14,902

Memo (off-balance-sheet items):

Marketable securities held in custody for foreign

 official and international accounts2,7 1,364,705 + 22,426 + 221,842 1,370,033

U.S. Treasury 1,077,357 + 20,310 + 167,917 1,080,307

Federal agency 287,347 + 2,115 + 53,924 289,726

Securities lent to dealers 2,966 - 475 + 2,287 3,508

FEDERAL RESERVE statistical release

 February 24, 2005

H.4.1

Factors Affecting Reserve Balances of Depository Institutions and

Condition Statement of Federal Reserve Banks

1. Factors Affecting Reserve Balances of Depository Institutions

Millions of dollars

Averages of daily figures

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.

Change from week ended Wednesday

 Feb 23, 2005 Week ended

 Feb 23, 2005 Feb 16, 2005 Feb 25, 2004
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. 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.

Assets

Gold certificate account 11,038 0 0

Special drawing rights certificate account 2,200 0 0

Coin 810 - 18 - 68

Securities, repurchase agreements, and loans 743,114 + 6,729 + 51,316

Securities held outright 717,839 - 20 + 46,312

U.S. Treasury1 717,839 - 20 + 46,312

Bills2 263,005 0 + 16,864

Notes and bonds, nominal2 433,429 0 + 23,645

Notes and bonds, inflation-indexed2 19,108 0 + 5,114

Inflation compensation3 2,297 - 19 + 689

Federal agency2 0 0 0

Repurchase agreements4 25,250 + 6,750 + 5,250

Loans 24 - 3 - 246

Items in process of collection (1,151) 9,655 + 1,652 + 2,659

Bank premises 1,784 + 1 + 134

Other assets5 37,671 + 622 + 676

Total assets (1,151) 806,272 + 8,986 + 54,717

Liabilities

Federal Reserve notes, net of F.R. Bank holdings 718,371 + 1,006 + 38,220

Reverse repurchase agreements6 23,474 + 128 + 4,602

Deposits ( 0 ) 28,345 + 5,886 + 2,911

Depository institutions 23,502 + 6,435 + 3,687

U.S. Treasury, general account 4,487 - 523 - 722

Foreign official 81 - 4 + 1

Other ( 0 ) 275 - 22 - 55

Deferred availability cash items (1,151) 8,781 + 1,632 + 1,611

Other liabilities and accrued dividends7 3,011 + 85 + 772

Total liabilities (1,151) 781,982 + 8,737 + 48,116

Capital accounts

Capital paid in 12,508 + 64 + 3,603

Surplus 11,114 + 85 + 2,414

Other capital accounts 668 + 100 + 584

Total capital 24,290 + 249 + 6,601

H.4.1

2. Consolidated Statement of Condition of All Federal Reserve Banks

Millions of dollars

Change since

Wednesday

 Feb 25, 2004

Eliminations from

consolidation Wednesday

 Feb 23, 2005

Wednesday

 Feb 16, 2005

3. Maturity Distribution of Loans and Securities, February 23, 2005

Millions of dollars

 Federal agency

securities

Weekly

changes Holdings

 U.S. Treasury

securities1

Holdings Weekly

changes

Loans Repurchase

agreements2

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.

Reverse

repurchase

agreements2

Within 15 days 24 56,852 - 840 0 0 25,250 23,474

16 days to 90 days 0 163,184 + 1,695 0 0 0 0

91 days to 1 year 0 157,795 - 856 0 0 . . . . . . 

Over 1 year to 5 years . . . 212,794 - 8 0 0 . . . . . . 

Over 5 years to 10 years . . . 50,279 + 3,054 0 0 . . . . . . 

Over 10 years . . . 76,934 - 3,066 0 0 . . . . . . 

All 24 717,839 - 20 0 0 25,250 23,474

Assets, liabilities, and capital

Maturity
H.4.1

4. Statement of Condition of Each Federal Reserve Bank on February 23, 2005Millions of dollars

Total Boston Cleveland Richmond Atlanta Chicago St. Louis New York Philadelphia Minneap

AssetsGold certificate accountSpecial drawing rights certificate acct.CoinSecurities, repurchase agreements,

and loans

Securities held outright

U.S. Treasury1

Bills2Notes and bonds3

Federal agency2

Repurchase agreements4Loans

Items in process of collectionBank premisesOther assets5Interdistrict settlement account

Total assets

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 sec

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.

 11,038 2,200 810 743,114 717,839 717,839 263,005 454,834 0 25,250 24 10,806 1,784 37,671 0 807,423

Assets, liabilities, and capital

 4,648 874 52 336,515 311,265 311,265 114,042 197,222 0 25,250 0 610 198 14,564 -31,659 325,801

 494 115 23 33,708 33,708 33,708 12,350 21,358 0 0 0 613 101 3,311 + 3,192 41,556

 382 83 61 21,351 21,350 21,350 7,822 13,528 0 0 1 592 53 1,006 + 6,689 30,218

 452 104 61 30,673 30,673 30,673 11,238 19,435 0 0 0 873 157 2,557 + 514 35,392

 819 147 74 54,559 54,559 54,559 19,990 34,569 0 0 0 688 143 5,027 + 5,022 66,478

 894 166 89 48,410 48,409 48,409 17,736 30,673 0 0 0 1,057 276 1,930 + 7,498 60,320

 924 212 123 64,669 64,662 64,662 23,691 40,971 0 0 7 1,038 165 2,583 + 945 70,659

 325 71 36 21,089 21,089 21,089 7,727 13,363 0 0 0 460 64 865 + 1,517 24,429

 2   15,6 15,6 15,6 5,7 9,9    6 1 7 - 9 16,5
 855,791

 137,420 718,371 718,371 11,038 2,200 705,133 0 743,089 23,489 719,600

Total Boston Cleveland Richmond Atlanta Chicago St. Louis New York Philadelphia Minneap

LiabilitiesFederal Reserve notes outstanding

Less: notes held by F.R. Banks

Federal Reserve notes, net

Reverse repurchase agreements1

Deposits

Depository institutionsU.S. Treasury, general accountForeign officialOther

Deferred availability cash itemsOther liabilities and accrued

dividends2

Total liabilities

CapitalCapital paid inSurplusOther capital

Total liabilities and capital

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.

 855,791 137,420 718,371 23,474 28,345 23,502 4,487 81 275 9,932 3,011 783,134 12,508 11,114 668 807,423

 40,161 4,738 35,423 1,102 1,371 1,359 0 5 7 861 169 38,927 1,639 991 0 41,556

 341,176 43,578 297,598 10,179 8,982 4,269 4,487 53 174 803 1,057 318,619 3,488 3,430 265 325,801

 35,156 7,967 27,189 698 756 755 0 1 0 857 107 29,606 298 294 20 30,218

 35,398 5,257 30,142 1,003 1,380 1,376 0 4 1 695 163 33,383 1,098 911 0 35,392

 64,565 12,198 52,368 1,784 6,529 6,435 0 7 86 727 291 61,699 2,538 2,148 93 66,478

 73,518 18,743 54,775 1,583 1,637 1,635 0 2 0 1,104 230 59,329 428 516 46 60,320

 72,510 8,955 63,555 2,115 2,364 2,361 0 3 0 719 282 69,035 786 763 74 70,659

 24,795 2,817 21,977 690 724 719 0 1 4 224 118 23,733 401 236 59 24,429

 16,3 2,0 14,3 5 3 3    6  15,9 2 2  16,5

H.4.1

4. Statement of Condition of Each Federal Reserve Bank on February 23, 2005 (continued)Millions of dollars

Assets, liabilities, and capital

Federal Reserve notes outstanding

Less: Notes held by F.R. Banks

not subject to collateralization

Federal Reserve notes to be collateralized

Collateral held against Federal Reserve notes

Gold certificate accountSpecial drawing rights certificate accountU.S. Treasury and agency securities pledged1Other assets pledged

Memo:Total U.S. Treasury and agency securities1

Less: face value of securities under

reverse repurchase agreements

U.S. Treasury and agency securities

eligible to be pledged

5. Collateral Held against Federal Reserve Notes:Federal Reserve Agents' AccountsMillions of dollarsFederal Reserve notes and collateral Wednesday

 Feb 23, 2005

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 ofinflation-indexed securities, and cash value of repurchase agreements.