FEDERAL RESERVE Statistical Release

H.4.1
Factors Affecting Reserve Balances of Depository Institutions and
Condition Statement of Federal Reserve Banks
                                                                                              June 23, 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           Jun 22, 2005 Jun 15, 2005 Jun 23, 2004 Jun 22, 2005
Federal Reserve Banks

Reserve Bank Credit                                         787,859    -      93    +  39,425      791,914
 Securities held outright                                   725,909    +     427    +  40,866      725,987       
    U.S. Treasury (1)                                       725,909    +     427    +  40,866      725,987
       Bills (2)                                            265,015            0    +  13,051      265,015
       Notes and bonds, nominal (2)                         438,678            0    +  21,984      438,678
       Notes and bonds, inflation-indexed (2)                19,473    +     365    +   5,009       19,533
       Inflation compensation (3)                             2,743    +      63    +     823        2,760
    Federal agency (2)                                            0            0            0            0      
 Repurchase agreements(4)                                    22,286    -   1,428    -   1,964       26,250
 Loans to depository institutions                               180    +      18    -      17          197
    Primary credit                                               22    +       8    -      32           21
    Secondary credit                                              0            0            0            0
    Seasonal credit                                             158    +      10    +      15          176
 Float                                                         -225    +     504    +      39         -357
 Other Federal Reserve assets                                39,710    +     387    +     501       39,838
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    +     633       36,643
       
Total factors supplying reserve funds                       837,743    -      79    +  40,053      841,798
                                                                   
Currency in circulation(5)                                  759,040    -     574    +  34,096      760,089
Reverse repurchase agreements (6)                            23,417    -     274    +   4,695       23,362
   Foreign official and international accounts               23,417    -     274    +   4,695       23,362
   Dealers                                                        0            0            0            0
Treasury cash holdings                                          268    -      12    -      47          245
Deposits with F.R.Banks, other than reserve balances         13,942    -     664    -   3,712       14,055       
  U.S. Treasury, general account                              4,982    -     552    -   2,052        5,099
  Foreign official                                               96    +       3    -       7           84
  Service-related                                             8,606    -       2    -   1,687        8,606
     Required clearing balances                               8,606    -       2    -   1,687        8,606
     Adjustments to compensate for float                          0            0            0            0
  Other                                                         258    -     114    +      33          267
Other liabilities and capital                                29,504    +     105    +   7,797       29,427

Total factors, other than reserve balances,                                        
   absorbing reserve funds                                  826,171    -   1,420    +  42,829      827,178

Reserve balances with Federal Reserve Banks                  11,572    +   1,340    -   2,776       14,620
                                                                

Memo (off-balance-sheet items):
  Marketable securities held in custody for foreign
         official and international accounts(2,7)         1,436,547    +     213    + 212,607    1,441,034
     U.S. Treasury                                        1,091,598    -     226    + 101,495    1,091,557
     Federal agency                                         344,948    +     438    + 111,111      349,478
  Securities lent to dealers                                  4,093    -   1,073    +   3,113        3,830   


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 Jun 22, 2005     Jun 15, 2005     Jun 23, 2004

Assets
Gold certificate account                                        11,037                0        -       4
Special drawing rights certificate account                       2,200                0                0
Coin                                                               642        +      13        -     112
Securities, repurchase agreements, and loans                   752,434        -   2,211        +  35,092
   Securities held outright                                    725,987        +     492        +  40,810
      U.S. Treasury (1)                                        725,987        +     492        +  40,810       
         Bills (2)                                             265,015                0        +  12,921
         Notes and bonds, nominal (2)                          438,678                0        +  21,984
         Notes and bonds, inflation-indexed (2)                 19,533        +     425        +   5,069
         Inflation compensation (3)                              2,760        +      67        +     836
      Federal agency (2)                                             0                0                0
   Repurchase agreements (4)                                    26,250        -   2,750        -   5,750    
   Loans                                                           197        +      46        +      32
Items in process of collection                      (749)        5,819        +     486        +     259
Bank premises                                                    1,829        +       6        +     138
Other assets (5)                                                38,443        +     951        +     748
      Total assets                                  (749)      812,402        -     757        +  36,119
                          
Liabilities
Federal Reserve notes net of FR Bank holdings                  724,328        -     251        +  31,321
Reverse repurchase agreements (6)                               23,362        +     215        +   5,897
Deposits                                              (0)       29,112        -   1,053        -   9,057       
  Depository institutions                                       23,662        +   3,691        -   6,995
  U.S. Treasury, general account                                 5,099        -   4,750        -   2,103
  Foreign official                                                  84        -       7        +       2
  Other                                               (0)          267        +      12        +      40
Deferred availability cash items                    (749)        6,174        -     121        +     172
Other liabilities and accrued dividends (7)                      3,553        +      51        +   1,002
      Total liabilities                             (749)      786,528        -   1,161        +  29,334
                          
Capital Accounts
Capital paid in                                                 12,935        +      14        +   3,711
Surplus                                                         11,451        +      55        +   2,604
Other capital accounts                                           1,488        +     336        +     470
      Total capital                                             25,874        +     404        +   6,785


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,      June 22, 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             183       61,540   -     313            0           0       26,250       23,362
16 days to 90 days          14      156,020   +     446            0           0            0            0
91 days to 1 year            0      159,576   -     133            0           0     ------      ------
Over 1 to 5 years     ------        216,566   +      14            0           0     ------      ------
Over 5 to 10 years    ------         54,145   +     376            0           0     ------      ------
Over 10 years         ------         78,140   +     102            0           0     ------      ------
                   		 	
All                        197      725,987   +     492            0           0       26,250      23,362

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      June 22, 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                                             642         20         35         43         48         51         84        103         36         19         46         60         97
Securities, repurchase agreements,
      and loans                              752,434     37,144    314,129     25,754     30,669     55,407     56,172     65,457     22,543     15,219     20,552     35,760     73,628
   Securities held outright                  725,987     37,144    287,879     25,754     30,669     55,405     56,166     65,379     22,528     15,163     20,534     35,756     73,611
      U.S. Treasury (1)                      725,987     37,144    287,879     25,754     30,669     55,405     56,166     65,379     22,528     15,163     20,534     35,756     73,611
         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)                  460,972     23,585    182,791     16,353     19,474     35,180     35,663     41,513     14,304      9,628     13,038     22,704     46,740
         Federal agency (2)                        0          0          0          0          0          0          0          0          0          0          0          0          0
      Repurchase agreements(4)                26,250          0     26,250          0          0          0          0          0          0          0          0          0          0
      Loans                                      197          0          0          0          0          2          6         78         15         56         18          4         18
Items in process of collection                 6,568        497        352        299        710        295      1,030        272        184        262        856        336      1,476
Bank premises                                  1,829        106        202         54        158        143        274        192         63        121         86        264        166
Other assets(5)                               38,443      3,279     14,319      1,200      2,487      5,086      2,387      2,631        900        763        695        999      3,696
Interdistrict settlement account                   0    - 2,277    - 8,056    + 5,503    +   461    + 4,522    + 2,557    + 3,153    +   392    -   442    +   336    - 2,926    - 3,224
          Total Assets                       813,152     39,394    326,210     33,368     35,090     66,488     63,615     72,948     24,516     16,185     22,954     35,139     77,245

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      June 22, 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             866,720     39,471    336,451     36,968     35,160     66,968     80,954     76,113     25,116     16,421     25,106     40,649     87,345
  Less: notes held by F.R. Banks              142,392      4,156     42,741      6,416      5,345     12,377     24,013      9,798      2,873      2,176      4,692      8,292     19,513
    Federal Reserve notes, net                724,328     35,315    293,709     30,552     29,815     54,591     56,940     66,315     22,243     14,246     20,414     32,357     67,832
Reverse repurchase agreements (1)              23,362      1,195      9,264        829        987      1,783      1,807      2,104        725        488        661      1,151      2,369
Deposits                                       29,112        835     13,852        776      1,246      2,698      2,412      2,101        580        320        734        871      2,686
  Depository institutions                      23,662        824      8,525        775      1,242      2,609      2,410      2,098        576        319        732        870      2,681
  U.S. Treasury, general account                5,099          0      5,099          0          0          0          0          0          0          0          0          0          0
  Foreign official                                 84          5         55          1          4          7          2          3          1          1          1          0          4
  Other                                           267          6        173          1          1         82          0          0          3          0          1          0          0
Deferred availability cash items                6,923        521        731        443        640        518        786        355        156        509        707        260      1,297
Other liabilities and accrued                 
  dividends (2)                                 3,553        181      1,178        133        194        397        282        334        134        105        111        179        326
   
    Total liabilities                         787,278     38,047    318,734     32,733     32,883     59,987     62,228     71,209     23,838     15,667     22,626     34,816     74,509
                              
Capital                    
Capital paid in                                12,935        173      3,627        308      1,127      3,958        669        845        330        253        157        148      1,341
Surplus                                        11,451      1,175      3,430        294      1,065      2,148        516        763        236        254        153        135      1,283
Other capital                                   1,488          0        420         32         15        394        202        131        112         10         18         40        113
     Total liabilities and capital            813,152     39,394    326,210     33,368     35,090     66,488     63,615     72,948     24,516     16,185     22,954     35,139     77,245
                              

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
                                          Jun 22, 2005
              
Federal Reserve notes outstanding             866,720
   Less: Notes held by F.R. Banks
         not subject to collateralization     142,392
      Federal Reserve Notes to be
         collateralized                       724,328 
Collateral held against Federal Reserve            
   notes                                      724,328
   Gold certificate account                    11,037
   Special drawing rights                 
     certificate account                        2,200
   U.S. Treasury and agency securities   
     pledged (1)                              711,091
   Other assets pledged                             0

Memo:
Total U.S. Treasury and agency 
       securities (1)                         752,237
   Less:face value of securities under
         reverse repurchase agreements         23,379
      U.S. Treasury and agency securities
             eligible to be pledged           728,858
   

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.