Reserve Bank credit, related items, and

reserve balances of depository institutions

at Federal Reserve Banks

Reserve Bank credit 786,594 - 965 + 42,926 791,892

Securities held outright 722,188 + 577 + 42,161 722,992

U.S. Treasury1 722,188 + 577 + 42,161 722,992

Bills2 264,353 + 69 + 13,953 264,515

Notes and bonds, nominal2 436,154 + 471 + 22,850 436,781

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

Inflation compensation3 2,573 + 38 + 714 2,587

Federal agency2 0 0 0 0

Repurchase agreements4 26,357 - 214 + 250 31,000

Loans to depository institutions 150 + 8 + 32 149

Primary credit 8 + 6 + 4 3

Secondary credit 0 0 0 0

Seasonal credit 142 + 3 + 28 146

Float -787 + 472 - 565 -1,124

Other Federal Reserve assets 38,685 - 1,808 + 1,048 38,876

Gold stock 11,041 0 - 4 11,041

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

Treasury currency outstanding5 36,643 + 14 + 740 36,643

Total factors supplying reserve funds 836,479 - 951 + 43,663 841,777

Currency in circulation5 754,364 - 8 + 33,502 757,483

Reverse repurchase agreements6 25,780 - 2,274 + 6,589 25,186

Foreign official and international accounts 25,780 - 2,274 + 6,589 25,186

Dealers 0 0 0 0

Treasury cash holdings 262 + 7 - 68 275

Deposits with F.R. Banks, other than reserve balances 13,644 - 317 - 1,692 14,216

U.S. Treasury, general account 4,936 - 273 - 276 5,518

Foreign official 82 - 2 - 1 79

Service-related 8,341 0 - 1,446 8,341

Required clearing balances 8,341 0 - 1,446 8,341

Adjustments to compensate for float 0 0 0 0

Other 286 - 41 + 32 278

Other liabilities and capital 28,978 + 158 + 7,694 29,039

Total factors, other than reserve balances,

absorbing reserve funds 823,027 - 2,435 + 46,023 826,200

Reserve balances with Federal Reserve Banks 13,451 + 1,483 - 2,361 15,577

Memo (off-balance-sheet items):

Marketable securities held in custody for foreign

 official and international accounts2,7 1,410,843 + 6,759 + 200,226 1,423,013

U.S. Treasury 1,080,319 + 6,112 + 101,859 1,084,986

Federal agency 330,524 + 647 + 98,367 338,027

Securities lent to dealers 3,424 + 121 + 20 5,675

FEDERAL RESERVE statistical release

 May 26, 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

 May 25, 2005 Week ended

 May 25, 2005 May 18, 2005 May 26, 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 633 - 23 - 108

Securities, repurchase agreements, and loans 754,141 + 8,621 + 39,630

Securities held outright 722,992 + 1,363 + 42,359

U.S. Treasury1 722,992 + 1,363 + 42,359

Bills2 264,515 + 227 + 14,076

Notes and bonds, nominal2 436,781 + 1,098 + 22,918

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

Inflation compensation3 2,587 + 38 + 720

Federal agency2 0 0 0

Repurchase agreements4 31,000 + 7,250 - 2,750

Loans 149 + 8 + 21

Items in process of collection (761) 5,210 - 284 - 502

Bank premises 1,818 + 3 + 140

Other assets5 37,021 + 315 + 870

Total assets (761) 812,060 + 8,632 + 40,027

Liabilities

Federal Reserve notes, net of F.R. Bank holdings 721,744 + 2,470 + 32,700

Reverse repurchase agreements6 25,186 - 993 + 5,855

Deposits ( 0 ) 29,757 + 6,900 - 6,716

Depository institutions 23,881 + 6,490 - 7,401

U.S. Treasury, general account 5,518 + 438 + 674

Foreign official 79 - 33 - 6

Other ( 0 ) 278 + 5 + 15

Deferred availability cash items (761) 6,334 - 3 + 342

Other liabilities and accrued dividends7 3,424 + 74 + 1,035

Total liabilities (761) 786,445 + 8,448 + 33,215

Capital accounts

Capital paid in 12,859 - 50 + 3,764

Surplus 11,417 + 24 + 2,570

Other capital accounts 1,340 + 212 + 478

Total capital 25,615 + 184 + 6,811

H.4.1

2. Consolidated Statement of Condition of All Federal Reserve Banks

Millions of dollars

Change since

Wednesday

 May 26, 2004

Eliminations from

consolidation Wednesday

 May 25, 2005

Wednesday

 May 18, 2005

3. Maturity Distribution of Loans and Securities, May 25, 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 139 62,611 + 909 0 0 31,000 25,186

16 days to 90 days 10 153,140 - 28 0 0 0 0

91 days to 1 year 0 160,928 - 655 0 0 . . . . . . 

Over 1 year to 5 years . . . 215,344 + 1,064 0 0 . . . . . . 

Over 5 years to 10 years . . . 53,677 + 56 0 0 . . . . . . 

Over 10 years . . . 77,291 + 16 0 0 . . . . . . 

All 149 722,992 + 1,363 0 0 31,000 25,186

Assets, liabilities, and capital

Maturity
H.4.1

4. Statement of Condition of Each Federal Reserve Bank on May 25, 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 2,200 633 754,141 722,992 722,992 264,515 458,477 0 31,000 149 5,971 1,818 37,021 0 812,821

Assets, liabilities, and capital

 4,355 874 35 317,691 286,691 286,691 104,889 181,802 0 31,000 0 341 200 13,907 - 8,671 328,731

 510 115 23 36,990 36,990 36,990 13,533 23,457 0 0 0 296 104 3,276 - 52 41,262

 432 83 49 25,648 25,648 25,648 9,384 16,264 0 0 0 345 54 1,074 + 4,509 32,194

 453 104 50 30,543 30,543 30,543 11,174 19,368 0 0 0 611 159 2,477 + 1,419 35,816

 836 147 46 55,176 55,176 55,176 20,187 34,989 0 0 0 435 143 4,898 + 3,579 65,261

 945 166 79 55,938 55,934 55,934 20,464 35,470 0 0 4 550 274 2,029 + 4,006 63,988

 928 212 115 65,182 65,109 65,109 23,821 41,288 0 0 73 310 181 2,541 + 1,984 71,453

 327 71 34 22,450 22,435 22,435 8,208 14,227 0 0 15 179 62 885 - 265 23,743

 2   15,1 15,1 15,1 5,5 9,5    2 1 7 - 1 16,2
 861,375

 139,631 721,744 721,744 11,037 2,200 708,507 0 753,992 25,204 728,788

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.

 861,375 139,631 721,744 25,186 29,757 23,881 5,518 79 278 7,095 3,424 787,206 12,859 11,417 1,340 812,821

 39,552 4,192 35,360 1,289 1,206 1,194 0 5 8 500 212 38,566 1,550 1,146 0 41,262

 337,960 41,410 296,550 9,987 12,864 7,122 5,518 51 173 790 1,135 321,326 3,608 3,430 368 328,731

 36,348 7,003 29,345 893 715 714 0 1 0 486 129 31,569 306 294 25 32,194

 35,146 5,328 29,818 1,064 1,897 1,892 0 4 1 670 184 33,633 1,124 1,059 0 35,816

 66,584 12,240 54,344 1,922 3,027 2,929 0 7 91 556 358 60,207 2,552 2,148 353 65,261

 79,358 22,768 56,590 1,949 2,933 2,931 0 2 0 876 273 62,621 661 516 189 63,988

 74,741 9,783 64,958 2,268 1,775 1,772 0 3 0 434 308 69,743 831 763 116 71,453

 24,412 2,941 21,471 782 551 548 0 1 3 151 132 23,087 330 236 91 23,743

 16,3 2,0 14,2 5 4 4    4 1 15,7 2 2  16,2

H.4.1

4. Statement of Condition of Each Federal Reserve Bank on May 25, 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

 May 25, 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.