FEDERAL RESERVE Statistical Release

H.4.1
Factors Affecting Reserve Balances of Depository Institutions and
Condition Statement of Federal Reserve Banks
                                                                                              July 28, 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           Jul 27, 2005 Jul 20, 2005 Jul 28, 2004 Jul 27, 2005
Federal Reserve Banks

Reserve Bank Credit                                         793,287    -   2,986    +  41,062      796,177
 Securities held outright                                   724,704    -       5    +  31,194      724,702       
    U.S. Treasury (1)                                       724,704    -       5    +  31,194      724,702
       Bills (2)                                            265,015            0    +   9,767      265,015
       Notes and bonds, nominal (2)                         437,374            0    +  16,028      437,374
       Notes and bonds, inflation-indexed (2)                19,533            0    +   4,671       19,533
       Inflation compensation (3)                             2,782    -       5    +     729        2,780
    Federal agency (2)                                            0            0            0            0      
 Repurchase agreements(4)                                    28,643    -   3,000    +  10,036       31,000
 Loans to depository institutions                               344    -      23    +      81          748
    Primary credit                                               11    -     117    -      26           12
    Secondary credit                                             67    +      67    +      67          470
    Seasonal credit                                             266    +      27    +      40          266
 Float                                                         -806    -     265    -     288         -713
 Other Federal Reserve assets                                40,403    +     308    +      40       40,440
Gold stock                                                   11,041            0    -       4       11,041
Special drawing rights certificate account                    2,200            0            0        2,200
Treasury currency outstanding (5)                            36,657    +      14    +     579       36,657
       
Total factors supplying reserve funds                       843,185    -   2,971    +  41,638      846,075
                                                                   
Currency in circulation(5)                                  760,999    -   1,467    +  27,963      763,041
Reverse repurchase agreements (6)                            27,995    +   1,364    +   8,036       27,277
   Foreign official and international accounts               27,995    +   1,364    +   8,036       27,277
   Dealers                                                        0            0            0            0
Treasury cash holdings                                          244    +       8    -      45          252
Deposits with F.R.Banks, other than reserve balances         13,987    -     867    -   1,148       13,486       
  U.S. Treasury, general account                              4,878    -     545    -      78        4,417
  Foreign official                                              111    -       8    +      34           81
  Service-related                                             8,697    -     309    -   1,105        8,697
     Required clearing balances                               8,697    -     309    -   1,105        8,697
     Adjustments to compensate for float                          0            0            0            0
  Other                                                         301    -       6    +       1          291
Other liabilities and capital                                30,099    +     229    +   8,773       29,918

Total factors, other than reserve balances,                                        
   absorbing reserve funds                                  833,324    -     733    +  43,578      833,975

Reserve balances with Federal Reserve Banks                   9,862    -   2,237    -   1,939       12,100
                                                                

Memo (off-balance-sheet items):
  Marketable securities held in custody for foreign
         official and international accounts(2,7)         1,454,039    +   8,008    + 214,613    1,457,721
     U.S. Treasury                                        1,095,153    +   3,067    +  90,082    1,096,591
     Federal agency                                         358,885    +   4,940    + 124,529      361,130
  Securities lent to dealers                                  1,698    +     469    +     635        6,647   


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 Jul 27, 2005     Jul 20, 2005     Jul 28, 2004

Assets
Gold certificate account                                        11,037                0        -       3
Special drawing rights certificate account                       2,200                0                0
Coin                                                               625        +       5        -     110
Securities, repurchase agreements, and loans                   756,450        -   2,997        +  40,801
   Securities held outright                                    724,702        -       5        +  30,985
      U.S. Treasury (1)                                        724,702        -       5        +  30,985       
         Bills (2)                                             265,015                0        +   9,767
         Notes and bonds, nominal (2)                          437,374                0        +  15,828
         Notes and bonds, inflation-indexed (2)                 19,533                0        +   4,671
         Inflation compensation (3)                              2,780        -       5        +     719
      Federal agency (2)                                             0                0                0
   Repurchase agreements (4)                                    31,000        -   2,750        +   9,500    
   Loans                                                           748        -     242        +     316
Items in process of collection                      (885)        5,483        +      77        +     500
Bank premises                                                    1,821        -       1        +     114
Other assets (5)                                                38,676        +     384        -      35
      Total assets                                  (885)      816,294        -   2,529        +  41,268
                          
Liabilities
Federal Reserve notes net of FR Bank holdings                  727,258        +     444        +  27,946
Reverse repurchase agreements (6)                               27,277        -     919        +   7,914
Deposits                                              (0)       25,644        -   2,261        -   3,825       
  Depository institutions                                       20,854        -   1,799        -   3,801
  U.S. Treasury, general account                                 4,417        -     243        -      30
  Foreign official                                                  81        -     202                0
  Other                                               (0)          291        -      18        +       5
Deferred availability cash items                    (885)        6,197        -     144        +     433
Other liabilities and accrued dividends (7)                      3,316        +      65        +     851
      Total liabilities                             (885)      789,691        -   2,816        +  33,317
                          
Capital Accounts
Capital paid in                                                 13,389        +       4        +   4,143
Surplus                                                         11,513        +      29        +   2,734
Other capital accounts                                           1,701        +     253        +   1,074
      Total capital                                             26,603        +     287        +   7,951


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,      July 27, 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             720       56,404   -     466            0           0       31,000       27,277
16 days to 90 days          29      158,996   -     414            0           0            0            0
91 days to 1 year            0      168,541   +     881            0           0     ------      ------
Over 1 to 5 years     ------        209,725   -       2            0           0     ------      ------
Over 5 to 10 years    ------         52,888   -       1            0           0     ------      ------
Over 10 years         ------         78,149   -       2            0           0     ------      ------
                   		 	
All                        748      724,702   -       5            0           0       31,000      27,277

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      July 27, 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                                             625         12         34         29         48         54         95         95         35         16         50         65         93
Securities, repurchase agreements,
      and loans                              756,450     37,078    318,840     25,709     30,615     55,307     56,079     65,363     22,537     15,208     20,519     35,699     73,497
   Securities held outright                  724,702     37,078    287,370     25,708     30,615     55,307     56,067     65,263     22,488     15,136     20,498     35,693     73,480
      U.S. Treasury (1)                      724,702     37,078    287,370     25,708     30,615     55,307     56,067     65,263     22,488     15,136     20,498     35,693     73,480
         Bills (2)                           265,015     13,559    105,088      9,401     11,196     20,225     20,503     23,866      8,224      5,535      7,496     13,052     26,871
         Notes and bonds(3)                  459,687     23,519    182,282     16,307     19,420     35,082     35,564     41,397     14,264      9,601     13,002     22,640     46,609
         Federal agency (2)                        0          0          0          0          0          0          0          0          0          0          0          0          0
      Repurchase agreements(4)                31,000          0     31,000          0          0          0          0          0          0          0          0          0          0
      Loans                                      748          0        470          1          0          0         12        100         49         73         21          6         17
Items in process of collection                 6,369        429        334        296        424        281        854        562        215        302        747        420      1,506
Bank premises                                  1,821        106        205         54        157        143        274        193         64        121         76        264        165
Other assets(5)                               38,676      3,294     14,651      1,172      2,507      4,922      2,182      2,708        934        778        720      1,047      3,761
Interdistrict settlement account                   0    - 2,351    -16,867    + 6,626    +   966    + 4,196    + 4,182    + 3,031    +   681    -   610    +   754    +   632    - 1,239
          Total Assets                       817,179     39,192    322,425     34,401     35,274     65,886     64,776     73,092     24,864     16,057     23,249     38,773     79,189

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      July 27, 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             874,374     39,426    334,606     37,221     35,365     67,114     81,881     76,155     25,913     16,558     25,648     44,553     89,932
  Less: notes held by F.R. Banks              147,117      4,727     44,637      6,206      5,536     12,443     23,920     10,035      3,091      2,446      4,923      8,844     20,310
    Federal Reserve notes, net                727,258     34,699    289,969     31,016     29,829     54,672     57,961     66,120     22,822     14,112     20,725     35,710     69,623
Reverse repurchase agreements (1)              27,277      1,396     10,816        968      1,152      2,082      2,110      2,456        846        570        772      1,343      2,766
Deposits                                       25,644        959     12,380        711      1,226      1,753      1,939      1,970        522        311        624        759      2,489
  Depository institutions                      20,854        950      7,738        709      1,220      1,638      1,937      1,967        519        310        622        759      2,485
  U.S. Treasury, general account                4,417          0      4,417          0          0          0          0          0          0          0          0          0          0
  Foreign official                                 81          5         53          1          4          7          2          3          1          1          1          0          4
  Other                                           291          5        171          1          2        108          0          1          2          0          1          0          0
Deferred availability cash items                7,082        543        657        486        635        476        786        473        164        459        688        467      1,248
Other liabilities and accrued                 
  dividends (2)                                 3,316        180      1,122        131        168        320        276        312        128         97        108        174        299
   
    Total liabilities                         790,576     37,776    314,945     33,311     33,011     59,303     63,073     71,332     24,482     15,549     22,916     38,454     76,425
                              
Capital                    
Capital paid in                                13,389        173      3,632        734      1,128      3,958        861        857        138        243        160        149      1,356
Surplus                                        11,513      1,236      3,430        294      1,065      2,148        516        763        236        254        153        135      1,283
Other capital                                   1,701          7        419         62         71        477        326        140          8         10         20         35        126
     Total liabilities and capital            817,179     39,192    322,425     34,401     35,274     65,886     64,776     73,092     24,864     16,057     23,249     38,773     79,189
                              

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
                                          Jul 27, 2005
              
Federal Reserve notes outstanding             874,374
   Less: Notes held by F.R. Banks
         not subject to collateralization     147,117
      Federal Reserve Notes to be
         collateralized                       727,258 
Collateral held against Federal Reserve            
   notes                                      727,258
   Gold certificate account                    11,037
   Special drawing rights                 
     certificate account                        2,200
   U.S. Treasury and agency securities   
     pledged (1)                              714,021
   Other assets pledged                             0

Memo:
Total U.S. Treasury and agency 
       securities (1)                         755,702
   Less:face value of securities under
         reverse repurchase agreements         27,302
      U.S. Treasury and agency securities
             eligible to be pledged           728,400
   

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.