FEDERAL RESERVE Statistical Release

H.4.1
Factors Affecting Reserve Balances of Depository Institutions and
Condition Statement of Federal Reserve Banks
                                                                                              July 21, 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 20, 2005 Jul 13, 2005 Jul 21, 2004 Jul 20, 2005
Federal Reserve Banks

Reserve Bank Credit                                         796,276    +   4,258    +  40,149      798,605
 Securities held outright                                   724,709    -       5    +  32,428      724,707       
    U.S. Treasury (1)                                       724,709    -       5    +  32,428      724,707
       Bills (2)                                            265,015            0    +   9,777      265,015
       Notes and bonds, nominal (2)                         437,374            0    +  17,224      437,374
       Notes and bonds, inflation-indexed (2)                19,533            0    +   4,671       19,533
       Inflation compensation (3)                             2,787    -       5    +     756        2,785
    Federal agency (2)                                            0            0            0            0      
 Repurchase agreements(4)                                    31,643    +   4,750    +   8,107       33,750
 Loans to depository institutions                               367    +      92    +     127          990
    Primary credit                                              128    +      77    +     102          738
    Secondary credit                                              0            0            0            0
    Seasonal credit                                             239    +      15    +      25          251
 Float                                                         -538    -     569    -     271         -935
 Other Federal Reserve assets                                40,095    -      10    -     242       40,093
Gold stock                                                   11,041            0    -       4       11,041
Special drawing rights certificate account                    2,200            0            0        2,200
Treasury currency outstanding (5)                            36,643    +      14    +     575       36,643
       
Total factors supplying reserve funds                       846,159    +   4,271    +  40,719      848,489
                                                                   
Currency in circulation(5)                                  762,466    -   3,320    +  28,735      762,599
Reverse repurchase agreements (6)                            26,631    +   1,215    +   6,747       28,196
   Foreign official and international accounts               26,631    +   1,215    +   6,747       28,196
   Dealers                                                        0            0            0            0
Treasury cash holdings                                          236    -       1    -      64          243
Deposits with F.R.Banks, other than reserve balances         14,854    +     638    -   1,450       14,258       
  U.S. Treasury, general account                              5,423    +     580    -      86        4,660
  Foreign official                                              119    +      33    +      35          283
  Service-related                                             9,006            0    -   1,414        9,006
     Required clearing balances                               9,006            0    -   1,414        9,006
     Adjustments to compensate for float                          0            0            0            0
  Other                                                         307    +      26    +      17          309
Other liabilities and capital                                29,870    +     258    +   8,331       29,567

Total factors, other than reserve balances,                                        
   absorbing reserve funds                                  834,057    -   1,209    +  42,299      834,862

Reserve balances with Federal Reserve Banks                  12,102    +   5,481    -   1,580       13,627
                                                                

Memo (off-balance-sheet items):
  Marketable securities held in custody for foreign
         official and international accounts(2,7)         1,446,031    +   3,407    + 207,292    1,447,340
     U.S. Treasury                                        1,092,086    -     641    +  90,216    1,094,999
     Federal agency                                         353,945    +   4,048    + 117,076      352,340
  Securities lent to dealers                                  1,229    -   1,660    +     797        3,451   


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 20, 2005     Jul 13, 2005     Jul 21, 2004

Assets
Gold certificate account                                        11,037                0        -       3
Special drawing rights certificate account                       2,200                0                0
Coin                                                               620        +       8        -     105
Securities, repurchase agreements, and loans                   759,447        +   9,246        +  41,415
   Securities held outright                                    724,707        -       5        +  32,408
      U.S. Treasury (1)                                        724,707        -       5        +  32,408       
         Bills (2)                                             265,015                0        +   9,767
         Notes and bonds, nominal (2)                          437,374                0        +  17,224
         Notes and bonds, inflation-indexed (2)                 19,533                0        +   4,671
         Inflation compensation (3)                              2,785        -       5        +     746
      Federal agency (2)                                             0                0                0
   Repurchase agreements (4)                                    33,750        +   8,500        +   8,250    
   Loans                                                           990        +     752        +     757
Items in process of collection                      (931)        5,406        -   1,036        -     152
Bank premises                                                    1,822        +       8        +     122
Other assets (5)                                                38,292        -     273        -     314
      Total assets                                  (931)      818,823        +   7,953        +  40,962
                          
Liabilities
Federal Reserve notes net of FR Bank holdings                  726,814        -   2,877        +  27,646
Reverse repurchase agreements (6)                               28,196        +   2,599        +   8,290
Deposits                                              (0)       27,905        +   8,134        -   3,869       
  Depository institutions                                       22,653        +   8,076        -   3,855
  U.S. Treasury, general account                                 4,660        -     130        -     219
  Foreign official                                                 283        +     183        +     184
  Other                                               (0)          309        +       5        +      22
Deferred availability cash items                    (931)        6,341        +     163        +     479
Other liabilities and accrued dividends (7)                      3,251        -      18        +     876
      Total liabilities                             (931)      792,507        +   8,000        +  33,422
                          
Capital Accounts
Capital paid in                                                 13,385        +      16        +   4,140
Surplus                                                         11,484        +       2        +   2,657
Other capital accounts                                           1,448        -      65        +     743
      Total capital                                             26,316        -      47        +   7,539


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 20, 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             965       56,870   +   6,293            0           0       33,750       28,196
16 days to 90 days          25      159,410   -   6,796            0           0            0            0
91 days to 1 year            0      167,660   +   7,282            0           0     ------      ------
Over 1 to 5 years     ------        209,727   -   5,521            0           0     ------      ------
Over 5 to 10 years    ------         52,889   -   1,261            0           0     ------      ------
Over 10 years         ------         78,151   -       2            0           0     ------      ------
                   		 	
All                        990      724,707   -       5            0           0       33,750      28,196

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 20, 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                                             620         13         35         31         46         53         88         95         35         17         50         64         93
Securities, repurchase agreements,
      and loans                              759,447     37,078    321,845     25,709     30,615     55,307     56,078     65,364     22,528     15,208     20,517     35,700     73,497
   Securities held outright                  724,707     37,078    287,372     25,709     30,615     55,307     56,067     65,263     22,488     15,136     20,498     35,693     73,481
      U.S. Treasury (1)                      724,707     37,078    287,372     25,709     30,615     55,307     56,067     65,263     22,488     15,136     20,498     35,693     73,481
         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)                  459,692     23,519    182,284     16,307     19,420     35,082     35,564     41,397     14,265      9,601     13,002     22,641     46,610
         Federal agency (2)                        0          0          0          0          0          0          0          0          0          0          0          0          0
      Repurchase agreements(4)                33,750          0     33,750          0          0          0          0          0          0          0          0          0          0
      Loans                                      990          0        723          0          0          0         11        101         40         72         19          7         16
Items in process of collection                 6,337        398        448        301        320        432        878        337        225        331        849        308      1,509
Bank premises                                  1,822        106        204         54        158        143        274        194         64        121         76        264        165
Other assets(5)                               38,292      3,263     14,482      1,225      2,482      4,895      2,135      2,663        922        768        709      1,031      3,717
Interdistrict settlement account                   0    - 1,916    -17,563    + 6,565    +   536    + 4,738    + 5,310    + 2,996    +   588    -   396    +   737    +   369    - 1,962
          Total Assets                       819,754     39,567    324,680     34,399     34,714     66,551     65,874     72,789     24,759     16,291     23,321     38,382     78,426

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 20, 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             872,426     39,325    334,900     37,234     35,164     66,894     82,037     76,036     25,653     16,486     25,432     43,894     89,371
  Less: notes held by F.R. Banks              145,612      4,265     45,133      6,168      5,428     12,307     23,680     10,035      2,954      2,274      4,831      8,492     20,044
    Federal Reserve notes, net                726,814     35,060    289,766     31,065     29,736     54,587     58,358     66,002     22,699     14,212     20,601     35,402     69,327
Reverse repurchase agreements (1)              28,196      1,443     11,181      1,000      1,191      2,152      2,181      2,539        875        589        797      1,389      2,859
Deposits                                       27,905        961     14,401        601        809      2,467      2,696      1,772        493        327        727        702      1,948
  Depository institutions                      22,653        945      9,306        599        805      2,348      2,694      1,768        490        326        726        701      1,944
  U.S. Treasury, general account                4,660          0      4,660          0          0          0          0          0          0          0          0          0          0
  Foreign official                                283          5        255          1          4          7          2          3          1          1          1          0          4
  Other                                           309         11        180          0          1        111          0          1          2          0          1          0          0
Deferred availability cash items                7,272        542        810        531        573        502        713        434        173        564        761        398      1,274
Other liabilities and accrued                 
  dividends (2)                                 3,251        177      1,103        129        165        302        271        308        126         96        107        173        293
   
    Total liabilities                         793,438     38,183    317,261     33,326     32,474     60,009     64,219     71,055     24,366     15,788     22,994     38,064     75,700
                              
Capital                    
Capital paid in                                13,385        173      3,627        734      1,128      3,958        862        857        138        243        160        149      1,356
Surplus                                        11,484      1,208      3,430        294      1,065      2,148        516        763        236        254        153        135      1,283
Other capital                                   1,448          3        362         46         47        436        277        114         20          5         14         35         88
     Total liabilities and capital            819,754     39,567    324,680     34,399     34,714     66,551     65,874     72,789     24,759     16,291     23,321     38,382     78,426
                              

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 20, 2005
              
Federal Reserve notes outstanding             872,426
   Less: Notes held by F.R. Banks
         not subject to collateralization     145,612
      Federal Reserve Notes to be
         collateralized                       726,814 
Collateral held against Federal Reserve            
   notes                                      726,814
   Gold certificate account                    11,037
   Special drawing rights                 
     certificate account                        2,200
   U.S. Treasury and agency securities   
     pledged (1)                              713,577
   Other assets pledged                             0

Memo:
Total U.S. Treasury and agency 
       securities (1)                         758,457
   Less:face value of securities under
         reverse repurchase agreements         28,386
      U.S. Treasury and agency securities
             eligible to be pledged           730,071
   

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.