FEDERAL RESERVE Statistical Release

H.4.1
Factors Affecting Reserve Balances of Depository Institutions and
Condition Statement of Federal Reserve Banks
                                                                                                May 5, 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            May 4, 2005 Apr 27, 2005  May 5, 2004  May 4, 2005
Federal Reserve Banks

Reserve Bank Credit                                         786,449    -     263    +  44,322      782,861
 Securities held outright                                   719,356    +   1,415    +  41,618      719,372       
    U.S. Treasury (1)                                       719,356    +   1,415    +  41,618      719,372
       Bills (2)                                            263,005            0    +  12,904      263,005
       Notes and bonds, nominal (2)                         434,785    +   1,385    +  23,397      434,785
       Notes and bonds, inflation-indexed (2)                19,108            0    +   4,644       19,108
       Inflation compensation (3)                             2,457    +      29    +     672        2,473
    Federal agency (2)                                            0            0            0            0      
 Repurchase agreements(4)                                    26,143    -   1,178    +   1,679       21,500
 Loans to depository institutions                               111    +       9    +      23          124
    Primary credit                                                5    -       2    -       1            3
    Secondary credit                                              0            0            0            0
    Seasonal credit                                             107    +      11    +      25          121
 Float                                                       -1,117    -     801    -     371         -112
 Other Federal Reserve assets                                41,957    +     295    +   1,375       41,978
Gold stock                                                   11,041            0    -       4       11,041
Special drawing rights certificate account                    2,200            0            0        2,200
Treasury currency outstanding (5)                            36,672    +      14    +     830       36,672
       
Total factors supplying reserve funds                       836,362    -     249    +  45,148      832,774
                                                                   
Currency in circulation(5)                                  753,795    +   1,062    +  35,290      755,472
Reverse repurchase agreements (6)                            26,355    +     861    +   4,878       26,060
   Foreign official and international accounts               26,355    +     861    +   4,878       26,060
   Dealers                                                        0            0            0            0
Treasury cash holdings                                          257    -       3    -      62          254
Deposits with F.R.Banks, other than reserve balances         14,326    -      80    -   2,723       14,082       
  U.S. Treasury, general account                              4,863    -     723    -   1,162        4,618
  Foreign official                                              101    +       6    -      29           79
  Service-related                                             9,028    +     603    -   1,534        9,028
     Required clearing balances                               9,028    +     603    -   1,533        9,028
     Adjustments to compensate for float                          0            0            0            0
  Other                                                         335    +      35    +       3          357
Other liabilities and capital                                28,799    -      69    +   7,877       28,643

Total factors, other than reserve balances,                                        
   absorbing reserve funds                                  823,533    +   1,772    +  45,261      824,510

Reserve balances with Federal Reserve Banks                  12,829    -   2,020    -     113        8,264
                                                                

Memo (off-balance-sheet items):
  Marketable securities held in custody for foreign
         official and international accounts(2,7)         1,398,940    +   8,123    + 204,582    1,400,271
     U.S. Treasury                                        1,077,108    +     849    + 112,373    1,075,587
     Federal agency                                         321,833    +   7,275    +  92,210      324,684
  Securities lent to dealers                                  3,492    +   1,897    -     221        2,096   


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  May 4, 2005     Apr 27, 2005      May 5, 2004

Assets
Gold certificate account                                        11,037                0        -       4
Special drawing rights certificate account                       2,200                0                0
Coin                                                               688        -      22        -     111
Securities, repurchase agreements, and loans                   740,996        -   8,497        +  43,088
   Securities held outright                                    719,372        +     734        +  41,561
      U.S. Treasury (1)                                        719,372        +     734        +  41,561       
         Bills (2)                                             263,005                0        +  12,842
         Notes and bonds, nominal (2)                          434,785        +     700        +  23,397
         Notes and bonds, inflation-indexed (2)                 19,108                0        +   4,644
         Inflation compensation (3)                              2,473        +      34        +     677
      Federal agency (2)                                             0                0                0
   Repurchase agreements (4)                                    21,500        -   9,250        +   1,500    
   Loans                                                           124        +      19        +      27
Items in process of collection                    (1,035)        7,545        +     896        +     702
Bank premises                                                    1,810        +       1        +     138
Other assets (5)                                                39,986        +     229        +     739
      Total assets                                (1,035)      804,262        -   7,394        +  44,551
                          
Liabilities
Federal Reserve notes net of FR Bank holdings                  719,737        +     921        +  34,113
Reverse repurchase agreements (6)                               26,060        +     992        +   5,407
Deposits                                              (0)       22,164        -   9,488        -   3,010       
  Depository institutions                                       17,110        -   7,805        -   1,742
  U.S. Treasury, general account                                 4,618        -   1,738        -   1,342
  Foreign official                                                  79        -       9        -       8
  Other                                               (0)          357        +      63        +      82
Deferred availability cash items                  (1,035)        7,657        +      57        +     517
Other liabilities and accrued dividends (7)                      3,292        -      40        +   1,021
      Total liabilities                           (1,035)      778,911        -   7,557        +  38,048
                          
Capital Accounts
Capital paid in                                                 12,753        +      11        +   3,714
Surplus                                                         11,397        +      40        +   2,550
Other capital accounts                                           1,200        +     111        +     237
      Total capital                                             25,351        +     163        +   6,502


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,        May 4, 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               5       63,851   +   4,070            0           0       21,500       26,060
16 days to 90 days         118      153,048   -   5,760            0           0            0            0
91 days to 1 year            0      161,061   +   2,029            0           0     ------      ------
Over 1 to 5 years     ------        213,805   -     325            0           0     ------      ------
Over 5 to 10 years    ------         50,365   +     475            0           0     ------      ------
Over 10 years         ------         77,241   +     245            0           0     ------      ------
                   		 	
All                        124      719,372   +     734            0           0       21,500      26,060

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        May 4, 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                                             688         21         36         58         55         50         79        122         36         25         48         57        101
Securities, repurchase agreements,
      and loans                              740,996     36,805    306,757     25,519     30,390     54,900     55,658     64,839     22,334     15,059     20,360     35,432     72,940
   Securities held outright                  719,372     36,805    285,256     25,519     30,390     54,900     55,654     64,783     22,323     15,025     20,347     35,430     72,940
      U.S. Treasury (1)                      719,372     36,805    285,256     25,519     30,390     54,900     55,654     64,783     22,323     15,025     20,347     35,430     72,940
         Bills (2)                           263,005     13,456    104,291      9,330     11,111     20,072     20,347     23,685      8,161      5,493      7,439     12,953     26,667
         Notes and bonds(3)                  456,367     23,349    180,965     16,189     19,279     34,828     35,307     41,098     14,161      9,532     12,908     22,477     46,273
         Federal agency (2)                        0          0          0          0          0          0          0          0          0          0          0          0          0
      Repurchase agreements(4)                21,500          0     21,500          0          0          0          0          0          0          0          0          0          0
      Loans                                      124          0          2          0          0          0          4         56         12         34         14          2          1
Items in process of collection                 8,580        477        393        393      1,587        418        862        384        232        577        668        393      2,197
Bank premises                                  1,810        103        199         54        156        143        274        180         61        121         84        269        166
Other assets(5)                               39,986      3,465     15,020      1,171      2,627      5,189      2,267      2,791        961        806        735      1,045      3,908
Interdistrict settlement account                   0    -   275    -   855    + 4,040    -   186    + 2,201    +   996    +   985    -    42    -   254    -   252    - 2,723    - 3,635
          Total Assets                       805,297     41,221    326,781     31,751     35,184     63,883     61,248     70,440     23,981     16,576     22,027     35,121     77,082

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        May 4, 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             856,894     39,749    338,327     35,837     35,382     66,030     76,459     73,223     24,577     16,428     24,125     40,024     86,733
  Less: notes held by F.R. Banks              137,157      4,444     39,964      7,474      5,311     12,359     21,891      9,206      3,005      1,907      4,564      7,736     19,294
    Federal Reserve notes, net                719,737     35,305    298,363     28,363     30,070     53,671     54,567     64,017     21,573     14,521     19,561     32,288     67,438
Reverse repurchase agreements (1)              26,060      1,333     10,334        924      1,101      1,989      2,016      2,347        809        544        737      1,284      2,642
Deposits                                       22,164        986      8,890      1,150        902      2,315      1,834      1,612        614        313        720        690      2,137
  Depository institutions                      17,110        977      4,050      1,149        898      2,135      1,832      1,609        611        309        719        689      2,133
  U.S. Treasury, general account                4,618          0      4,618          0          0          0          0          0          0          0          0          0          0
  Foreign official                                 79          5         51          1          4          7          2          3          1          1          1          0          4
  Other                                           357          4        171          0          0        173          0          1          2          3          1          1          0
Deferred availability cash items                8,692        700        871        570        788        514      1,305        458        197        585        585        378      1,741
Other liabilities and accrued                 
  dividends (2)                                 3,292        200      1,092        125        177        333        266        308        125         96        104        166        302
   
    Total liabilities                         779,946     38,524    319,550     31,133     33,038     58,822     59,988     68,741     23,317     16,059     21,707     34,805     74,262
                              
Capital                    
Capital paid in                                12,753      1,550      3,504        303      1,096      2,560        648        830        321        253        155        148      1,386
Surplus                                        11,397      1,136      3,430        294      1,049      2,148        516        763        236        254        153        135      1,283
Other capital                                   1,200         11        298         21          0        353         96        106        108          9         13         33        152
     Total liabilities and capital            805,297     41,221    326,781     31,751     35,184     63,883     61,248     70,440     23,981     16,576     22,027     35,121     77,082
                              

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
                                           May 4, 2005
              
Federal Reserve notes outstanding             856,894
   Less: Notes held by F.R. Banks
         not subject to collateralization     137,157
      Federal Reserve Notes to be
         collateralized                       719,737 
Collateral held against Federal Reserve            
   notes                                      719,737
   Gold certificate account                    11,037
   Special drawing rights                 
     certificate account                        2,200
   U.S. Treasury and agency securities   
     pledged (1)                              706,500
   Other assets pledged                             0

Memo:
Total U.S. Treasury and agency 
       securities (1)                         740,872
   Less:face value of securities under
         reverse repurchase agreements         26,079
      U.S. Treasury and agency securities
             eligible to be pledged           714,793
   

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.