FEDERAL RESERVE Statistical Release

H.4.1
Factors Affecting Reserve Balances of Depository Institutions and
Condition Statement of Federal Reserve Banks
                                                                                           February 3, 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            Feb 2, 2005 Jan 26, 2005  Feb 4, 2004  Feb 2, 2005
Federal Reserve Banks

Reserve Bank Credit                                         784,230    +   3,673    +  51,990      782,165
 Securities held outright                                   717,855    +      28    +  50,593      717,898       
    U.S. Treasury (1)                                       717,855    +      28    +  50,593      717,898
       Bills (2)                                            262,980    +      10    +  17,507      263,005
       Notes and bonds, nominal (2)                         435,143    -   1,286    +  28,970      433,429
       Notes and bonds, inflation-indexed (2)                17,394    +   1,286    +   3,400       19,108
       Inflation compensation (3)                             2,337    +      18    +     715        2,356
    Federal agency (2)                                            0            0            0            0      
 Repurchase agreements(4)                                    26,321    +   4,428    +   3,107       24,250
 Loans to depository institutions                                61    -      16    +      38           83
    Primary credit                                               42    -      13    +      32           71
    Secondary credit                                              0            0            0            0
    Seasonal credit                                              19    -       3    +       6           12
 Float                                                           67    -   1,092    -     267          -10
 Other Federal Reserve assets                                39,927    +     325    -   1,480       39,945
Gold stock                                                   11,043    -       2            0       11,042
Special drawing rights certificate account                    2,200            0            0        2,200
Treasury currency outstanding (5)                            36,561    +      14    +     994       36,561
       
Total factors supplying reserve funds                       834,034    +   3,685    +  52,985      831,969
                                                                   
Currency in circulation(5)                                  747,138    +     149    +  36,978      749,717
Reverse repurchase agreements (6)                            26,805    -     648    +   6,224       27,872
   Foreign official and international accounts               26,805    -     648    +   6,224       27,872
   Dealers                                                        0            0            0            0
Treasury cash holdings                                          272    -      20    -      84          291
Deposits with F.R.Banks, other than reserve balances         14,428    -     185    -   1,920       14,507       
  U.S. Treasury, general account                              5,070    -     182    +     169        5,097
  Foreign official                                               97    +      14    +      14          156
  Service-related                                             8,945    -       3    -   1,999        8,945
     Required clearing balances                               8,945    -       2    -   1,669        8,945
     Adjustments to compensate for float                          0    -       2    -     330            0
  Other                                                         316    -      14    -     105          309
Other liabilities and capital                                26,615    +     381    +   6,230       26,551

Total factors, other than reserve balances,                                        
   absorbing reserve funds                                  815,258    -     323    +  47,429      818,937

Reserve balances with Federal Reserve Banks                  18,775    +   4,007    +   5,555       13,032
                                                                

Memo (off-balance-sheet items):
  Marketable securities held in custody for foreign
         official and international accounts(2,7)         1,346,495    -     875    + 229,545    1,344,370
     U.S. Treasury                                        1,061,800    -   8,248    + 172,332    1,058,594
     Federal agency                                         284,695    +   7,373    +  57,214      285,776
  Securities lent to dealers                                  3,639    +   2,435    +   3,290        5,641   


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  Feb 2, 2005     Jan 26, 2005      Feb 4, 2004

Assets
Gold certificate account                                        11,038        -       3                0
Special drawing rights certificate account                       2,200                0                0
Coin                                                               806        +      21        -      52
Securities, repurchase agreements, and loans                   742,231        -   4,415        +  51,666
   Securities held outright                                    717,898        +      71        +  50,606
      U.S. Treasury (1)                                        717,898        +      71        +  50,606       
         Bills (2)                                             263,005        +      35        +  17,500
         Notes and bonds, nominal (2)                          433,429        -   3,000        +  27,256
         Notes and bonds, inflation-indexed (2)                 19,108        +   3,000        +   5,114
         Inflation compensation (3)                              2,356        +      36        +     736
      Federal agency (2)                                             0                0                0
   Repurchase agreements (4)                                    24,250        -   4,500        +   1,000    
   Loans                                                            83        +      14        +      60
Items in process of collection                      (958)        7,946        +   1,742        -     935
Bank premises                                                    1,781        +       3        +     137
Other assets (5)                                                40,366        +     157        +     511
      Total assets                                  (958)      806,368        -   2,494        +  51,327
                          
Liabilities
Federal Reserve notes net of FR Bank holdings                  714,249        +   2,257        +  35,949
Reverse repurchase agreements (6)                               27,872        -   3,202        +   7,446
Deposits                                              (0)       29,741        -   3,627        +   2,234       
  Depository institutions                                       24,179        -   3,679        +   2,897
  U.S. Treasury, general account                                 5,097        -      20        -     631
  Foreign official                                                 156        +      80        +      76
  Other                                               (0)          309        -       8        -     109
Deferred availability cash items                    (958)        7,956        +   1,796        -     626
Other liabilities and accrued dividends (7)                      2,834        -       2        +     624
      Total liabilities                             (958)      782,652        -   2,777        +  45,627
                          
Capital Accounts
Capital paid in                                                 12,437        +     417        +   3,548
Surplus                                                         10,996        +       2        +   2,149
Other capital accounts                                             283        -     137        +       3
      Total capital                                             23,716        +     283        +   5,700


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,   February 2, 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              74       55,168   -   2,582            0           0       24,250       27,872
16 days to 90 days           8      156,730   +   3,571            0           0            0            0
91 days to 1 year            0      167,654   -   2,027            0           0     ------      ------
Over 1 to 5 years     ------        207,754   -   1,930            0           0     ------      ------
Over 5 to 10 years    ------         51,786           0            0           0     ------      ------
Over 10 years         ------         78,806   +   3,038            0           0     ------      ------
                   		 	
All                         83      717,898   +      70            0           0       24,250      27,872

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   February 2, 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                      11,038        494      4,648        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                                             806         21         48         61         59         75         92        123         36         25         53         88        125
Securities, repurchase agreements,
      and loans                              742,231     33,712    335,551     21,374     30,676     54,563     48,416     64,672     21,112     15,660     18,866     32,733     64,896
   Securities held outright                  717,898     33,711    311,290     21,352     30,676     54,563     48,413     64,667     21,091     15,658     18,865     32,733     64,879
      U.S. Treasury (1)                      717,898     33,711    311,290     21,352     30,676     54,563     48,413     64,667     21,091     15,658     18,865     32,733     64,879
         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)                  454,893     21,361    197,248     13,530     19,438     34,574     30,677     40,976     13,364      9,922     11,954     20,741     41,110
         Federal agency (2)                        0          0          0          0          0          0          0          0          0          0          0          0          0
      Repurchase agreements(4)                24,250          0     24,250          0          0          0          0          0          0          0          0          0          0
      Loans                                       83          2         11         22          0          0          3          5         21          2          1          0         17
Items in process of collection                 8,904        467        515        388        743        426      1,135        617        362        530        627        406      2,689
Bank premises                                  1,781        101        197         53        157        143        275        165         63        122         82        256        167
Other assets(5)                               40,366      3,427     15,734      1,083      2,664      5,251      2,128      2,823        944        824        715      1,001      3,770
Interdistrict settlement account                   0    + 2,621    -23,837    + 4,169    - 1,028    + 2,203    + 8,841    +   642    + 1,592    -   763    + 1,645    + 1,334    + 2,580
          Total Assets                       807,326     40,958    333,730     27,594     33,826     63,628     61,947     70,178     24,506     16,646     22,356     36,440     75,515

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   February 2, 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             852,862     39,903    341,740     32,956     34,173     64,516     73,182     72,785     24,882     16,397     24,566     40,577     87,184
  Less: notes held by F.R. Banks              138,613      4,842     42,157      8,178      5,456     12,431     17,944      9,490      2,682      1,942      4,736      7,158     21,597
    Federal Reserve notes, net                714,249     35,061    299,583     24,778     28,717     52,085     55,239     63,295     22,201     14,455     19,830     33,419     65,587
Reverse repurchase agreements (1)              27,872      1,309     12,085        829      1,191      2,118      1,880      2,511        819        608        732      1,271      2,519
Deposits                                       29,741      1,146     13,114        714      1,200      3,841      2,534      1,945        513        365        900        915      2,554
  Depository institutions                      24,179      1,123      7,714        713      1,196      3,724      2,532      1,942        510        364        898        913      2,549
  U.S. Treasury, general account                5,097          0      5,097          0          0          0          0          0          0          0          0          0          0
  Foreign official                                156          5        127          1          4          7          2          3          1          1          1          0          4
  Other                                           309         17        176          0          0        110          0          1          2          0          1          1          0
Deferred availability cash items                8,914        716        952        570        620        628      1,105        561        194        623        489        409      2,047
Other liabilities and accrued                 
  dividends (2)                                 2,834        159      1,000        101        153        263        216        274        111         87         93        143        235
   
    Total liabilities                         783,610     38,391    326,736     26,992     31,880     58,936     60,973     68,585     23,837     16,138     22,044     36,156     72,942
                              
Capital                    
Capital paid in                                12,437      1,638      3,430        297      1,091      2,538        426        787        400        253        155        135      1,288
Surplus                                        10,996        929      3,430        294        855      2,148        516        763        236        254        153        135      1,283
Other capital                                     283          0        135         11          0          6         32         42         34          1          4         14          4
     Total liabilities and capital            807,326     40,958    333,730     27,594     33,826     63,628     61,947     70,178     24,506     16,646     22,356     36,440     75,515
                              

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
                                           Feb 2, 2005
              
Federal Reserve notes outstanding             852,862
   Less: Notes held by F.R. Banks
         not subject to collateralization     138,613
      Federal Reserve Notes to be
         collateralized                       714,249 
Collateral held against Federal Reserve            
   notes                                      714,249
   Gold certificate account                    11,038
   Special drawing rights                 
     certificate account                        2,200
   U.S. Treasury and agency securities   
     pledged (1)                              701,011
   Other assets pledged                             0

Memo:
Total U.S. Treasury and agency 
       securities (1)                         742,148
   Less:face value of securities under
         reverse repurchase agreements         27,888
      U.S. Treasury and agency securities
             eligible to be pledged           714,260
   

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.