Reserve Bank credit, related items, and

reserve balances of depository institutions

at Federal Reserve Banks

Reserve Bank credit 790,621 + 6,148 + 44,054 790,726

Securities held outright 717,727 + 53 + 51,325 717,813

U.S. Treasury1 717,727 + 53 + 51,325 717,813

Bills2 262,892 + 31 + 18,323 262,970

Notes and bonds, nominal2 436,429 0 + 30,256 436,429

Notes and bonds, inflation-indexed2 16,108 0 + 2,114 16,108

Inflation compensation3 2,298 + 22 + 632 2,306

Federal agency2 0 0 0 0

Repurchase agreements4 31,071 + 5,678 - 7,608 33,000

Loans to depository institutions 54 - 21 - 11 57

Primary credit 9 - 10 - 23 13

Secondary credit 0 0 0 0

Seasonal credit 45 - 11 + 12 44

Float 2,496 + 2,043 + 1,316 489

Other Federal Reserve assets 39,272 - 1,606 - 970 39,367

Gold stock 11,044 + 1 + 1 11,045

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

Treasury currency outstanding5 36,476 + 14 + 1,008 36,476

Total factors supplying reserve funds 840,340 + 6,162 + 45,061 840,446

Currency in circulation5 756,941 + 3,283 + 33,235 758,397

Reverse repurchase agreements6 30,132 + 2,058 + 8,497 29,938

Foreign official and international accounts 30,132 + 2,058 + 8,497 29,938

Dealers 0 0 0 0

Treasury cash holdings 268 + 4 - 51 270

Deposits with F.R. Banks, other than reserve balances 14,971 - 291 - 3,421 16,066

U.S. Treasury, general account 4,631 - 502 - 1,219 5,734

Foreign official 80 - 17 - 19 87

Service-related 10,023 + 261 - 2,102 10,023

Required clearing balances 10,023 + 261 - 1,823 10,023

Adjustments to compensate for float 0 0 - 278 0

Other 237 - 33 - 82 221

Other liabilities and capital 26,619 + 479 + 6,030 26,526

Total factors, other than reserve balances,

absorbing reserve funds 828,931 + 5,533 + 44,290 831,197

Reserve balances with Federal Reserve Banks 11,409 + 630 + 772 9,249

Memo (off-balance-sheet items):

Marketable securities held in custody for foreign

 official and international accounts2,7 1,335,780 + 5,683 + 269,038 1,340,321

U.S. Treasury 1,062,209 + 2,584 + 206,337 1,063,222

Federal agency 273,571 + 3,099 + 62,702 277,099

Securities lent to dealers 2,050 - 1,303 - 1,036 5,782

FEDERAL RESERVE statistical release

 December 30, 2004

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

 Dec 29, 2004 Week ended

 Dec 29, 2004 Dec 22, 2004 Dec 31, 2003
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 11,041 + 2 + 2

Special drawing rights certificate account 2,200 0 0

Coin 717 - 5 - 5

Securities, repurchase agreements, and loans 750,870 + 1,109 + 40,393

Securities held outright 717,813 + 131 + 51,148

U.S. Treasury1 717,813 + 131 + 51,148

Bills2 262,970 + 109 + 18,137

Notes and bonds, nominal2 436,429 0 + 30,256

Notes and bonds, inflation-indexed2 16,108 0 + 2,114

Inflation compensation3 2,306 + 22 + 641

Federal agency2 0 0 0

Repurchase agreements4 33,000 + 1,000 - 10,750

Loans 57 - 22 - 5

Items in process of collection (1,018) 6,104 - 1,994 - 1,689

Bank premises 1,787 + 14 + 159

Other assets5 39,759 + 495 + 1,173

Total assets (1,018) 812,478 - 381 + 40,034

Liabilities

Federal Reserve notes, net of F.R. Bank holdings 722,904 + 987 + 33,147

Reverse repurchase agreements6 29,938 + 1,882 + 4,286

Deposits ( 0 ) 27,476 - 2,330 - 2,184

Depository institutions 21,433 - 3,973 - 1,625

U.S. Treasury, general account 5,734 + 1,687 + 11

Foreign official 87 - 1 - 75

Other ( 0 ) 221 - 43 - 496

Deferred availability cash items (1,018) 5,634 - 1,339 - 1,948

Other liabilities and accrued dividends7 3,193 + 54 + 1,093

Total liabilities (1,018) 789,145 - 747 + 34,395

Capital accounts

Capital paid in 11,641 + 3 + 2,794

Surplus 8,847 0 0

Other capital accounts 2,845 + 363 + 2,845

Total capital 23,333 + 366 + 5,639

H.4.1

2. Consolidated Statement of Condition of All Federal Reserve Banks

Millions of dollars

Change since

Wednesday

 Dec 31, 2003

Eliminations from

consolidation Wednesday

 Dec 29, 2004

Wednesday

 Dec 22, 2004

3. Maturity Distribution of Loans and Securities, December 29, 2004

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 57 54,111 - 296 0 0 33,000 29,938

16 days to 90 days 0 154,406 + 462 0 0 0 0

91 days to 1 year 0 170,856 - 57 0 0 . . . . . . 

Over 1 year to 5 years . . . 208,306 + 8 0 0 . . . . . . 

Over 5 years to 10 years . . . 54,371 + 7 0 0 . . . . . . 

Over 10 years . . . 75,763 + 8 0 0 . . . . . . 

All 57 717,813 + 131 0 0 33,000 29,938

Assets, liabilities, and capital

Maturity
H.4.1

4. Statement of Condition of Each Federal Reserve Bank on December 29, 2004Millions 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.

 11,041 2,200 717 750,870 717,813 717,813 262,970 454,843 0 33,000 57 7,122 1,787 39,759 0 813,496

Assets, liabilities, and capital

 4,651 874 42 344,253 311,253 311,253 114,027 197,226 0 33,000 0 354 196 14,137 -27,822 336,684

 494 115 18 33,710 33,707 33,707 12,348 21,358 0 0 3 358 99 1,811 + 3,840 40,446

 382 83 55 21,357 21,350 21,350 7,821 13,528 0 0 8 343 53 1,159 + 3,994 27,426

 452 104 51 30,672 30,672 30,672 11,237 19,436 0 0 0 507 156 2,483 - 284 34,141

 819 147 61 54,557 54,557 54,557 19,987 34,570 0 0 0 264 144 6,320 + 674 62,985

 894 166 84 48,414 48,407 48,407 17,734 30,673 0 0 7 629 277 2,267 + 9,555 62,286

 924 212 110 64,677 64,659 64,659 23,688 40,972 0 0 17 491 159 3,615 + 701 70,887

 325 71 35 21,089 21,089 21,089 7,726 13,363 0 0 0 405 66 1,042 + 1,640 24,672

 2   15,6 15,6 15,6 5,7 9,9    4 1 1,1 - 9 16,7
 848,985

 126,081 722,904 722,904 11,041 2,200 709,664 0 750,813 29,952 720,861

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.

 848,985 126,081 722,904 29,938 27,476 21,433 5,734 87 221 6,651 3,193 790,163 11,641 8,847 2,845 813,496

 38,293 3,976 34,317 1,406 1,487 1,483 0 2 2 513 201 37,923 1,638 448 436 40,446

 337,298 34,805 302,493 12,982 12,442 6,465 5,734 64 179 587 1,073 329,577 3,430 2,031 1,647 336,684

 32,638 7,908 24,730 890 654 652 0 1 0 430 117 26,822 294 259 51 27,426

 34,576 5,228 29,348 1,279 1,287 1,283 0 2 2 447 161 32,522 795 727 97 34,141

 65,117 11,962 53,155 2,275 2,405 2,366 0 7 31 459 341 58,636 2,148 2,074 127 62,985

 73,178 16,791 56,387 2,019 1,772 1,770 0 2 0 798 242 61,218 516 489 64 62,286

 72,795 8,811 63,984 2,697 1,728 1,724 0 3 1 442 300 69,150 764 924 50 70,887

 25,039 2,704 22,335 880 675 672 0 1 2 174 125 24,188 236 228 20 24,672

 16,4 1,9 14,4 6 3 3    5 1 16,1 2 3  16,7

H.4.1

4. Statement of Condition of Each Federal Reserve Bank on December 29, 2004 (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

 Dec 29, 2004

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.