Reserve Bank credit, related items, and

reserve balances of depository institutions

at Federal Reserve Banks

Reserve Bank credit 785,361 + 7,823 + 48,454 787,990

Securities held outright 717,512 + 10 + 44,426 717,515

U.S. Treasury1 717,512 + 10 + 44,426 717,515

Bills2 263,005 0 + 16,597 263,005

Notes and bonds, nominal2 433,096 0 + 22,533 433,096

Notes and bonds, inflation-indexed2 19,108 0 + 4,644 19,108

Inflation compensation3 2,302 + 10 + 652 2,306

Federal agency2 0 0 0 0

Repurchase agreements4 28,107 + 7,214 + 2,928 30,250

Loans to depository institutions 44 + 11 - 31 58

Primary credit 8 + 3 - 40 20

Secondary credit 0 0 0 0

Seasonal credit 35 + 6 + 8 38

Float -731 + 26 - 38 -392

Other Federal Reserve assets 40,430 + 563 + 1,169 40,558

Gold stock 11,042 0 - 3 11,042

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

Treasury currency outstanding5 36,518 + 14 + 811 36,518

Total factors supplying reserve funds 835,121 + 7,838 + 49,262 837,749

Currency in circulation5 751,925 + 396 + 37,979 753,306

Reverse repurchase agreements6 25,365 - 266 + 6,270 24,939

Foreign official and international accounts 25,365 - 266 + 6,270 24,939

Dealers 0 0 0 0

Treasury cash holdings 252 - 5 - 71 254

Deposits with F.R. Banks, other than reserve balances 15,295 + 1,075 - 2,003 14,637

U.S. Treasury, general account 5,118 + 814 - 619 4,746

Foreign official 88 + 5 + 2 82

Service-related 9,554 0 - 1,574 9,554

Required clearing balances 9,554 0 - 1,331 9,554

Adjustments to compensate for float 0 0 - 243 0

Other 535 + 256 + 188 254

Other liabilities and capital 28,128 + 395 + 7,592 27,837

Total factors, other than reserve balances,

absorbing reserve funds 820,966 + 1,595 + 49,768 820,973

Reserve balances with Federal Reserve Banks 14,155 + 6,242 - 506 16,776

Memo (off-balance-sheet items):

Marketable securities held in custody for foreign

 official and international accounts2,7 1,384,939 + 4,610 + 216,669 1,388,688

U.S. Treasury 1,085,148 + 4,796 + 152,014 1,087,883

Federal agency 299,791 - 186 + 64,655 300,806

Securities lent to dealers 1,823 + 123 - 916 1,578

FEDERAL RESERVE statistical release

 March 17, 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

 Mar 16, 2005 Week ended

 Mar 16, 2005 Mar 9, 2005 Mar 17, 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 11,037 0 - 4

Special drawing rights certificate account 2,200 0 0

Coin 746 - 27 - 100

Securities, repurchase agreements, and loans 747,824 + 8,286 + 45,574

Securities held outright 717,515 + 10 + 44,362

U.S. Treasury1 717,515 + 10 + 44,362

Bills2 263,005 0 + 16,536

Notes and bonds, nominal2 433,096 0 + 22,533

Notes and bonds, inflation-indexed2 19,108 0 + 4,644

Inflation compensation3 2,306 + 10 + 649

Federal agency2 0 0 0

Repurchase agreements4 30,250 + 8,250 + 1,500

Loans 58 + 26 - 289

Items in process of collection (942) 6,654 - 645 + 739

Bank premises 1,797 + 4 + 144

Other assets5 38,729 + 364 + 1,105

Total assets (942) 808,987 + 7,982 + 47,458

Liabilities

Federal Reserve notes, net of F.R. Bank holdings 717,783 + 377 + 36,773

Reverse repurchase agreements6 24,939 - 491 + 6,169

Deposits ( 0 ) 31,373 + 8,234 - 3,116

Depository institutions 26,291 + 8,118 - 1,344

U.S. Treasury, general account 4,746 + 147 - 1,669

Foreign official 82 0 - 30

Other ( 0 ) 254 - 32 - 72

Deferred availability cash items (942) 7,055 - 140 + 372

Other liabilities and accrued dividends7 3,088 - 21 + 862

Total liabilities (942) 784,239 + 7,960 + 41,060

Capital accounts

Capital paid in 12,536 + 1 + 3,539

Surplus 11,247 + 31 + 2,455

Other capital accounts 966 - 9 + 406

Total capital 24,749 + 22 + 6,399

H.4.1

2. Consolidated Statement of Condition of All Federal Reserve Banks

Millions of dollars

Change since

Wednesday

 Mar 17, 2004

Eliminations from

consolidation Wednesday

 Mar 16, 2005

Wednesday

 Mar 9, 2005

3. Maturity Distribution of Loans and Securities, March 16, 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 22 54,797 + 7,727 0 0 30,250 24,939

16 days to 90 days 37 163,608 - 7,910 0 0 0 0

91 days to 1 year 0 159,093 + 182 0 0 . . . . . . 

Over 1 year to 5 years . . . 212,798 + 4 0 0 . . . . . . 

Over 5 years to 10 years . . . 50,281 + 2 0 0 . . . . . . 

Over 10 years . . . 76,938 + 4 0 0 . . . . . . 

All 58 717,515 + 10 0 0 30,250 24,939

Assets, liabilities, and capital

Maturity
H.4.1

4. Statement of Condition of Each Federal Reserve Bank on March 16, 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.

 11,037 2,200 746 747,824 717,515 717,515 263,005 454,510 0 30,250 58 7,596 1,797 38,729 0 809,929

Assets, liabilities, and capital

 4,647 874 51 341,374 311,124 311,124 114,042 197,082 0 30,250 0 396 201 14,983 -30,443 332,084

 494 115 22 33,693 33,693 33,693 12,350 21,343 0 0 1 352 102 3,383 + 4,112 42,275

 382 83 62 21,341 21,341 21,341 7,822 13,518 0 0 0 346 53 1,037 + 7,068 30,372

 452 104 55 30,660 30,660 30,660 11,238 19,421 0 0 0 650 157 2,610 + 1,450 36,137

 819 147 62 54,534 54,534 54,534 19,990 34,545 0 0 0 436 143 5,147 + 2,513 63,801

 894 166 74 48,387 48,387 48,387 17,736 30,651 0 0 0 1,026 275 2,000 + 7,046 59,869

 924 212 120 64,655 64,633 64,633 23,691 40,942 0 0 23 557 170 2,662 + 612 69,913

 325 71 31 21,082 21,080 21,080 7,727 13,353 0 0 2 317 64 900 + 1,539 24,329

 2   15,6 15,6 15,6 5,7 9,9    3 1 7 - 8 16,3
 854,972

 137,189 717,783 717,783 11,037 2,200 704,546 0 747,765 24,958 722,807

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.

 854,972 137,189 717,783 24,939 31,373 26,291 4,746 82 254 7,997 3,088 785,180 12,536 11,247 966 809,929

 40,006 4,762 35,244 1,171 2,405 2,398 0 5 2 646 175 39,641 1,554 1,056 23 42,275

 339,910 41,301 298,609 10,814 13,567 8,593 4,746 54 173 785 1,099 324,873 3,492 3,430 290 332,084

 35,412 7,875 27,537 742 744 743 0 1 0 628 107 29,759 299 294 20 30,372

 35,436 5,306 30,131 1,066 2,184 2,179 0 4 1 512 167 34,060 1,098 979 0 36,137

 65,325 12,548 52,777 1,895 3,398 3,319 0 7 72 520 294 58,884 2,539 2,148 230 63,801

 73,305 19,610 53,695 1,682 2,176 2,174 0 2 0 1,099 230 58,882 428 516 43 59,869

 72,508 8,974 63,534 2,246 1,630 1,627 0 3 1 574 291 68,275 799 763 76 69,913

 24,718 2,972 21,745 733 819 815 0 1 3 170 118 23,586 403 236 104 24,329

 16,3 1,8 14,4 5 3 3    4  15,8 2 2  16,3

H.4.1

4. Statement of Condition of Each Federal Reserve Bank on March 16, 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

 Mar 16, 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.