Reserve Bank credit, related items, and

reserve balances of depository institutions

at Federal Reserve Banks

Reserve Bank credit 782,330 - 1,165 + 44,593 789,052

Securities held outright 717,532 + 10 + 43,495 717,536

U.S. Treasury1 717,532 + 10 + 43,495 717,536

Bills2 263,005 0 + 16,506 263,005

Notes and bonds, nominal2 433,096 0 + 21,708 433,096

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

Inflation compensation3 2,322 + 10 + 636 2,326

Federal agency2 0 0 0 0

Repurchase agreements4 24,643 - 1,321 + 286 31,750

Loans to depository institutions 59 + 16 + 11 62

Primary credit 13 + 8 + 2 10

Secondary credit 0 0 0 0

Seasonal credit 46 + 8 + 10 52

Float -517 + 204 + 207 -999

Other Federal Reserve assets 40,614 - 73 + 595 40,703

Gold stock 11,041 - 1 - 4 11,041

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

Treasury currency outstanding5 36,546 + 14 + 785 36,546

Total factors supplying reserve funds 832,118 - 1,151 + 45,376 838,839

Currency in circulation5 753,037 + 1,053 + 38,649 755,241

Reverse repurchase agreements6 24,679 - 1,369 + 4,221 23,691

Foreign official and international accounts 24,679 - 1,369 + 4,221 23,691

Dealers 0 0 0 0

Treasury cash holdings 275 + 18 - 75 284

Deposits with F.R. Banks, other than reserve balances 13,642 - 399 - 2,341 14,267

U.S. Treasury, general account 4,592 - 376 - 654 5,198

Foreign official 83 - 5 - 1 102

Service-related 8,733 0 - 1,680 8,733

Required clearing balances 8,732 - 1 - 1,678 8,732

Adjustments to compensate for float 0 0 - 3 0

Other 235 - 17 - 6 235

Other liabilities and capital 27,686 - 289 + 6,783 27,674

Total factors, other than reserve balances,

absorbing reserve funds 819,319 - 984 + 47,237 821,157

Reserve balances with Federal Reserve Banks 12,799 - 166 - 1,861 17,682

Memo (off-balance-sheet items):

Marketable securities held in custody for foreign

 official and international accounts2,7 1,391,680 + 2,994 + 232,367 1,391,196

U.S. Treasury 1,085,048 - 424 + 159,662 1,081,549

Federal agency 306,632 + 3,419 + 72,705 309,647

Securities lent to dealers 3,276 + 586 + 2,381 7,588

FEDERAL RESERVE statistical release

 March 31, 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

 Mar 30, 2005 Week ended

 Mar 30, 2005 Mar 23, 2005 Mar 31, 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 713 - 17 - 123

Securities, repurchase agreements, and loans 749,348 + 12,529 + 47,700

Securities held outright 717,536 + 10 + 43,452

U.S. Treasury1 717,536 + 10 + 43,452

Bills2 263,005 0 + 16,466

Notes and bonds, nominal2 433,096 0 + 21,708

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

Inflation compensation3 2,326 + 10 + 634

Federal agency2 0 0 0

Repurchase agreements4 31,750 + 12,500 + 4,250

Loans 62 + 19 - 2

Items in process of collection (935) 5,529 - 2,192 - 184

Bank premises 1,806 + 5 + 143

Other assets5 38,731 + 149 + 225

Total assets (935) 809,365 + 10,476 + 47,759

Liabilities

Federal Reserve notes, net of F.R. Bank holdings 719,688 + 2,116 + 38,114

Reverse repurchase agreements6 23,691 - 800 + 1,990

Deposits ( 0 ) 31,783 + 9,092 + 630

Depository institutions 26,249 + 8,556 + 1,294

U.S. Treasury, general account 5,198 + 521 - 686

Foreign official 102 + 19 + 19

Other ( 0 ) 235 - 4 + 4

Deferred availability cash items (935) 6,529 - 126 + 231

Other liabilities and accrued dividends7 3,225 + 45 + 1,007

Total liabilities (935) 784,916 + 10,327 + 41,971

Capital accounts

Capital paid in 12,559 + 1 + 3,581

Surplus 11,177 - 23 + 2,330

Other capital accounts 714 + 172 - 122

Total capital 24,449 + 149 + 5,788

H.4.1

2. Consolidated Statement of Condition of All Federal Reserve Banks

Millions of dollars

Change since

Wednesday

 Mar 31, 2004

Eliminations from

consolidation Wednesday

 Mar 30, 2005

Wednesday

 Mar 23, 2005

3. Maturity Distribution of Loans and Securities, March 30, 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 58 54,851 + 86 0 0 31,750 23,691

16 days to 90 days 4 162,697 - 421 0 0 0 0

91 days to 1 year 0 159,950 + 335 0 0 . . . . . . 

Over 1 year to 5 years . . . 212,806 + 4 0 0 . . . . . . 

Over 5 years to 10 years . . . 50,284 + 1 0 0 . . . . . . 

Over 10 years . . . 76,947 + 4 0 0 . . . . . . 

All 62 717,536 + 10 0 0 31,750 23,691

Assets, liabilities, and capital

Maturity
H.4.1

4. Statement of Condition of Each Federal Reserve Bank on March 30, 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 2,200 713 749,348 717,536 717,536 263,005 454,531 0 31,750 62 6,465 1,806 38,731 0 810,300

Assets, liabilities, and capital

 4,647 874 45 342,883 311,133 311,133 114,042 197,090 0 31,750 0 441 199 15,059 -25,813 338,335

 494 115 22 33,697 33,694 33,694 12,350 21,344 0 0 3 361 103 3,319 + 2,611 40,722

 382 83 64 21,341 21,341 21,341 7,822 13,519 0 0 0 298 53 1,128 + 7,532 30,883

 452 104 52 30,660 30,660 30,660 11,238 19,422 0 0 0 730 157 2,564 + 549 35,270

 819 147 59 54,541 54,536 54,536 19,990 34,546 0 0 5 346 143 5,069 + 442 61,566

 894 166 70 48,389 48,389 48,389 17,736 30,652 0 0 0 716 275 2,017 + 6,876 59,403

 924 212 118 64,660 64,634 64,634 23,691 40,943 0 0 25 486 175 2,682 + 853 70,109

 325 71 32 21,085 21,080 21,080 7,727 13,354 0 0 4 227 65 877 + 1,465 24,147

 2   15,6 15,6 15,6 5,7 9,9    2 1 7 - 5 16,5
 854,507

 134,820 719,688 719,688 11,037 2,200 706,451 0 749,286 23,708 725,577

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.

 854,507 134,820 719,688 23,691 31,783 26,249 5,198 102 235 7,464 3,225 785,851 12,559 11,177 714 810,300

 40,080 4,729 35,351 1,112 917 908 0 5 4 582 180 38,142 1,554 1,016 10 40,722

 339,212 38,448 300,763 10,273 18,370 12,930 5,198 74 168 664 1,140 331,209 3,491 3,430 205 338,335

 35,685 7,787 27,898 705 997 995 0 1 1 565 112 30,277 300 294 12 30,883

 35,414 5,302 30,112 1,012 1,444 1,439 0 4 1 479 175 33,222 1,099 949 0 35,270

 65,600 12,695 52,906 1,801 1,264 1,201 0 7 55 436 312 56,718 2,539 2,148 160 61,566

 72,813 19,806 53,007 1,598 2,522 2,520 0 2 0 1,060 239 58,426 428 516 33 59,403

 72,875 9,066 63,810 2,134 1,684 1,681 0 3 0 526 308 68,462 817 763 66 70,109

 24,741 2,951 21,790 696 650 645 0 1 4 143 125 23,404 405 236 102 24,147

 16,3 1,8 14,5 5 3 3    5  16,0 2 2  16,5

H.4.1

4. Statement of Condition of Each Federal Reserve Bank on March 30, 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

 Mar 30, 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.