FEDERAL RESERVE Statistical Release

H.4.1
Factors Affecting Reserve Balances of Depository Institutions and
Condition Statement of Federal Reserve Banks
                                                                                               July 7, 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 6, 2005 Jun 29, 2005  Jul 7, 2004  Jul 6, 2005
Federal Reserve Banks

Reserve Bank Credit                                         795,797    +   7,230    +  40,844      801,241
 Securities held outright                                   724,719    -   1,290    +  37,051      724,717       
    U.S. Treasury (1)                                       724,719    -   1,290    +  37,051      724,717
       Bills (2)                                            265,015            0    +  10,457      265,015
       Notes and bonds, nominal (2)                         437,374    -   1,304    +  20,680      437,374
       Notes and bonds, inflation-indexed (2)                19,533            0    +   5,069       19,533
       Inflation compensation (3)                             2,797    +      15    +     846        2,796
    Federal agency (2)                                            0            0            0            0      
 Repurchase agreements(4)                                    30,071    +   6,964    +   2,892       34,000
 Loans to depository institutions                               745    +     530    +     521          222
    Primary credit                                              539    +     520    +     480            1
    Secondary credit                                              0            0            0            0
    Seasonal credit                                             206    +      10    +      41          221
 Float                                                          514    +   1,303    +     532        2,511
 Other Federal Reserve assets                                39,748    -     277    -     153       39,790
Gold stock                                                   11,041            0    -       4       11,041
Special drawing rights certificate account                    2,200            0            0        2,200
Treasury currency outstanding (5)                            36,671    +      14    +     622       36,671
       
Total factors supplying reserve funds                       845,709    +   7,244    +  41,462      851,153
                                                                   
Currency in circulation(5)                                  766,557    +   6,616    +  30,264      768,347
Reverse repurchase agreements (6)                            25,767    +   1,456    +   5,809       24,464
   Foreign official and international accounts               25,767    +   1,456    +   5,809       24,464
   Dealers                                                        0            0            0            0
Treasury cash holdings                                          237    -       7    -      66          237
Deposits with F.R.Banks, other than reserve balances         12,530    -     843    -   3,288       13,199       
  U.S. Treasury, general account                              3,840    -     886    -     701        4,544
  Foreign official                                              125    +      22    -      30           82
  Service-related                                             8,278    -       1    -   2,584        8,278
     Required clearing balances                               8,278    -       1    -   2,584        8,278
     Adjustments to compensate for float                          0            0            0            0
  Other                                                         287    +      22    +      26          295
Other liabilities and capital                                29,043    -     670    +   7,414       28,794

Total factors, other than reserve balances,                                        
   absorbing reserve funds                                  834,134    +   6,552    +  40,134      835,041

Reserve balances with Federal Reserve Banks                  11,574    +     691    +   1,327       16,112
                                                                

Memo (off-balance-sheet items):
  Marketable securities held in custody for foreign
         official and international accounts(2,7)         1,437,974    -   2,245    + 202,421    1,438,044
     U.S. Treasury                                        1,085,936    -   2,610    +  86,647    1,088,804
     Federal agency                                         352,038    +     365    + 115,775      349,240
  Securities lent to dealers                                  5,356    +   1,913    +   3,057        4,637   


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 6, 2005     Jun 29, 2005      Jul 7, 2004

Assets
Gold certificate account                                        11,037                0        -       3
Special drawing rights certificate account                       2,200                0                0
Coin                                                               608        -      19        -     104
Securities, repurchase agreements, and loans                   758,939        +   6,671        +  42,822
   Securities held outright                                    724,717        -   1,305        +  36,824
      U.S. Treasury (1)                                        724,717        -   1,305        +  36,824       
         Bills (2)                                             265,015                0        +  10,239
         Notes and bonds, nominal (2)                          437,374        -   1,304        +  20,680
         Notes and bonds, inflation-indexed (2)                 19,533                0        +   5,069
         Inflation compensation (3)                              2,796        +       1        +     838
      Federal agency (2)                                             0                0                0
   Repurchase agreements (4)                                    34,000        +   8,000        +   6,000    
   Loans                                                           222        -      25        -       3
Items in process of collection                    (1,388)       10,918        +   5,059        +   1,852
Bank premises                                                    1,816        -      15        +     119
Other assets (5)                                                38,033        -     208        -     362
      Total assets                                (1,388)      823,551        +  11,487        +  44,324
                          
Liabilities
Federal Reserve notes net of FR Bank holdings                  732,517        +   4,877        +  29,358
Reverse repurchase agreements (6)                               24,464        +     227        +   4,636
Deposits                                              (0)       29,344        +   4,709        +   2,605       
  Depository institutions                                       24,424        +   4,297        +     948
  U.S. Treasury, general account                                 4,544        +     371        +   1,629
  Foreign official                                                  82        -       1        -       2
  Other                                               (0)          295        +      43        +      31
Deferred availability cash items                  (1,388)        8,432        +   2,270        +     441
Other liabilities and accrued dividends (7)                      3,225        -     394        +     900
      Total liabilities                           (1,388)      797,982        +  11,690        +  37,940
                          
Capital Accounts
Capital paid in                                                 12,939        +       3        +   3,688
Surplus                                                         11,437        -      19        +   2,590
Other capital accounts                                           1,194        -     185        +     107
      Total capital                                             25,569        -     202        +   6,384


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 6, 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              36       51,553   -   9,011            0           0       34,000       24,464
16 days to 90 days         186      165,271   +   7,859            0           0            0            0
91 days to 1 year            0      160,338   +   1,178            0           0     ------      ------
Over 1 to 5 years     ------        215,250   -   1,330            0           0     ------      ------
Over 5 to 10 years    ------         54,151           0            0           0     ------      ------
Over 10 years         ------         78,156   +       1            0           0     ------      ------
                   		 	
All                        222      724,717   -   1,305            0           0       34,000      24,464

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 6, 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                                             608         15         33         32         46         45         86        100         38         16         48         61         88
Securities, repurchase agreements,
      and loans                              758,939     37,079    321,376     25,709     30,616     55,308     56,075     65,343     22,528     15,206     20,518     35,698     73,484
   Securities held outright                  724,717     37,079    287,376     25,709     30,616     55,308     56,068     65,264     22,489     15,136     20,498     35,693     73,482
      U.S. Treasury (1)                      724,717     37,079    287,376     25,709     30,616     55,308     56,068     65,264     22,489     15,136     20,498     35,693     73,482
         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)                  459,703     23,520    182,288     16,308     19,420     35,083     35,565     41,398     14,265      9,601     13,002     22,641     46,611
         Federal agency (2)                        0          0          0          0          0          0          0          0          0          0          0          0          0
      Repurchase agreements(4)                34,000          0     34,000          0          0          0          0          0          0          0          0          0          0
      Loans                                      222          0          0          0          0          0          7         79         40         70         20          4          2
Items in process of collection                12,306      1,081        733        761      1,186        907      1,397        863        383        459      1,561        808      2,167
Bank premises                                  1,816        105        201         54        157        143        273        195         63        121         74        264        165
Other assets(5)                               38,033      3,239     14,358      1,200      2,460      4,850      2,147      2,639        902        761        698      1,013      3,766
Interdistrict settlement account                   0    - 1,766    -16,107    + 5,534    + 1,098    + 5,593    + 4,100    + 3,695    +   495    -   361    +   501    - 1,822    -   962
          Total Assets                       824,939     40,378    325,824     33,805     36,120     67,830     65,189     73,975     24,807     16,444     23,784     36,668     80,115

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 6, 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             868,521     39,419    336,059     37,007     35,120     66,978     81,126     76,083     25,468     16,584     25,408     41,639     87,631
  Less: notes held by F.R. Banks              136,004      3,755     42,678      5,744      4,766     11,578     23,155      9,109      2,759      2,168      4,435      7,854     18,004
    Federal Reserve notes, net                732,517     35,664    293,381     31,263     30,354     55,399     57,971     66,974     22,708     14,416     20,974     33,785     69,627
Reverse repurchase agreements (1)              24,464      1,252      9,701        868      1,033      1,867      1,893      2,203        759        511        692      1,205      2,480
Deposits                                       29,344        821     13,348        551      1,476      2,823      2,556      2,160        488        365        700        658      3,398
  Depository institutions                      24,424        808      8,583        549      1,472      2,700      2,555      2,157        484        364        699        657      3,394
  U.S. Treasury, general account                4,544          0      4,544          0          0          0          0          0          0          0          0          0          0
  Foreign official                                 82          5         54          1          4          7          2          3          1          1          1          0          4
  Other                                           295          8        167          0          0        115          0          0          2          0          1          0          0
Deferred availability cash items                9,820      1,133        937        378        876        968        947        621        250        546        993        537      1,635
Other liabilities and accrued                 
  dividends (2)                                 3,225        176      1,087        125        178        296        266        309        125         97        105        172        289
   
    Total liabilities                         799,370     39,046    318,453     33,184     33,918     61,352     63,633     72,267     24,331     15,935     23,464     36,357     77,429
                              
Capital                    
Capital paid in                                12,939        173      3,627        309      1,128      3,958        862        845        138        253        157        149      1,341
Surplus                                        11,437      1,160      3,430        294      1,065      2,148        516        763        236        254        153        135      1,283
Other capital                                   1,194          0        314         18          9        371        178        100        103          1          9         27         62
     Total liabilities and capital            824,939     40,378    325,824     33,805     36,120     67,830     65,189     73,975     24,807     16,444     23,784     36,668     80,115
                              

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 6, 2005
              
Federal Reserve notes outstanding             868,521
   Less: Notes held by F.R. Banks
         not subject to collateralization     136,004
      Federal Reserve Notes to be
         collateralized                       732,517 
Collateral held against Federal Reserve            
   notes                                      732,517
   Gold certificate account                    11,037
   Special drawing rights                 
     certificate account                        2,200
   U.S. Treasury and agency securities   
     pledged (1)                              719,280
   Other assets pledged                             0

Memo:
Total U.S. Treasury and agency 
       securities (1)                         758,717
   Less:face value of securities under
         reverse repurchase agreements         24,485
      U.S. Treasury and agency securities
             eligible to be pledged           734,232
   

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.