FEDERAL RESERVE Statistical Release

H.4.1
Factors Affecting Reserve Balances of Depository Institutions and
Condition Statement of Federal Reserve Banks
                                                                                          February 17, 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           Feb 16, 2005  Feb 9, 2005 Feb 18, 2004 Feb 16, 2005
Federal Reserve Banks

Reserve Bank Credit                                         783,703    +   7,100    +  44,014      776,092
 Securities held outright                                   717,866    -      20    +  47,749      717,859       
    U.S. Treasury (1)                                       717,866    -      20    +  47,749      717,859
       Bills (2)                                            263,005            0    +  17,099      263,005
       Notes and bonds, nominal (2)                         433,429            0    +  24,826      433,429
       Notes and bonds, inflation-indexed (2)                19,108            0    +   5,114       19,108
       Inflation compensation (3)                             2,324    -      19    +     711        2,316
    Federal agency (2)                                            0            0            0            0      
 Repurchase agreements(4)                                    23,929    +   7,786    -   4,500       18,500
 Loans to depository institutions                                23    -      14            0           27
    Primary credit                                                9    -      13    -       2            7
    Secondary credit                                              0            0            0            0
    Seasonal credit                                              14    -       1    +       3           19
 Float                                                          412    +      96    +     685          844
 Other Federal Reserve assets                                41,473    -     748    +      79       38,863
Gold stock                                                   11,042            0    -       1       11,042
Special drawing rights certificate account                    2,200            0            0        2,200
Treasury currency outstanding (5)                            36,518    +      14    +     910       36,518
       
Total factors supplying reserve funds                       833,464    +   7,114    +  44,924      825,852
                                                                   
Currency in circulation(5)                                  751,170    +     963    +  35,054      752,789
Reverse repurchase agreements (6)                            27,044    +     429    +   4,207       23,346
   Foreign official and international accounts               27,044    +     429    +   4,207       23,346
   Dealers                                                        0            0            0            0
Treasury cash holdings                                          280    -      10    -      54          270
Deposits with F.R.Banks, other than reserve balances         15,073    +       7    -   1,633       15,164       
  U.S. Treasury, general account                              4,924    +      11    -      60        5,010
  Foreign official                                               82    -       7    +       2           85
  Service-related                                             9,772            0    -   1,551        9,772
     Required clearing balances                               9,772            0    -   1,165        9,772
     Adjustments to compensate for float                          0            0    -     386            0
  Other                                                         296    +       4    -      23          297
Other liabilities and capital                                26,950    +     247    +   6,212       26,967

Total factors, other than reserve balances,                                        
   absorbing reserve funds                                  820,518    +   1,637    +  43,787      818,536

Reserve balances with Federal Reserve Banks                  12,946    +   5,477    +   1,137        7,316
                                                                

Memo (off-balance-sheet items):
  Marketable securities held in custody for foreign
         official and international accounts(2,7)         1,342,279    +   2,043    + 207,756    1,353,202
     U.S. Treasury                                        1,057,047    +   3,379    + 156,277    1,069,207
     Federal agency                                         285,232    -   1,335    +  51,479      283,995
  Securities lent to dealers                                  3,441    +   1,177    +   1,688        8,247   


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 Feb 16, 2005      Feb 9, 2005     Feb 18, 2004

Assets
Gold certificate account                                        11,038                0                0
Special drawing rights certificate account                       2,200                0                0
Coin                                                               828        -       3        -      53
Securities, repurchase agreements, and loans                   736,385        +   3,977        +  42,079
   Securities held outright                                    717,859        -      20        +  47,073
      U.S. Treasury (1)                                        717,859        -      20        +  47,073       
         Bills (2)                                             263,005                0        +  16,950
         Notes and bonds, nominal (2)                          433,429                0        +  24,305
         Notes and bonds, inflation-indexed (2)                 19,108                0        +   5,114
         Inflation compensation (3)                              2,316        -      20        +     704
      Federal agency (2)                                             0                0                0
   Repurchase agreements (4)                                    18,500        +   4,000        -   5,000    
   Loans                                                            27        -       3        +       7
Items in process of collection                      (891)        8,003        -   2,309        -   4,493
Bank premises                                                    1,783                0        +     137
Other assets (5)                                                37,049        -   3,320        -      35
      Total assets                                  (891)      797,286        -   1,656        +  37,635
                          
Liabilities
Federal Reserve notes net of FR Bank holdings                  717,365        +     404        +  35,122
Reverse repurchase agreements (6)                               23,346        -   5,009        +   3,395
Deposits                                              (0)       22,459        +   2,362        -   3,872       
  Depository institutions                                       17,067        +   2,088        -   3,871
  U.S. Treasury, general account                                 5,010        +     263        +       6
  Foreign official                                                  85                0        +       3
  Other                                               (0)          297        +      10        -      11
Deferred availability cash items                    (891)        7,149        +      96        -   3,657
Other liabilities and accrued dividends (7)                      2,926        -       4        +     682
      Total liabilities                             (891)      773,245        -   2,151        +  31,670
                          
Capital Accounts
Capital paid in                                                 12,444        +       6        +   3,546
Surplus                                                         11,029        +     123        +   2,182
Other capital accounts                                             568        +     367        +     236
      Total capital                                             24,041        +     495        +   5,965


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,  February 16, 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              27       57,692   +   2,933            0           0       18,500       23,346
16 days to 90 days           0      161,489   +   3,885            0           0            0            0
91 days to 1 year            0      158,651   -   8,538            0           0     ------      ------
Over 1 to 5 years     ------        212,802   +   5,055            0           0     ------      ------
Over 5 to 10 years    ------         47,225   -   4,557            0           0     ------      ------
Over 10 years         ------         80,000   +   1,203            0           0     ------      ------
                   		 	
All                         27      717,859   -      20            0           0       18,500      23,346

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  February 16, 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                      11,038        494      4,648        382        452        819        894        924        325        218        302        525      1,055
Special drawing rights certificate acct.       2,200        115        874         83        104        147        166        212         71         30         66         98        234
Coin                                             828         23         53         64         62         78         91        123         35         26         56         86        132
Securities, repurchase agreements,
      and loans                              736,385     33,710    329,773     21,359     30,674     54,560     48,411     64,673     21,090     15,664     18,865     32,731     64,876
   Securities held outright                  717,859     33,709    311,273     21,351     30,674     54,560     48,411     64,664     21,090     15,657     18,864     32,731     64,875
      U.S. Treasury (1)                      717,859     33,709    311,273     21,351     30,674     54,560     48,411     64,664     21,090     15,657     18,864     32,731     64,875
         Bills (2)                           263,005     12,350    114,042      7,822     11,238     19,990     17,736     23,691      7,727      5,736      6,911     11,992     23,769
         Notes and bonds(3)                  454,854     21,359    197,231     13,528     19,436     34,571     30,674     40,972     13,363      9,921     11,953     20,739     41,106
         Federal agency (2)                        0          0          0          0          0          0          0          0          0          0          0          0          0
      Repurchase agreements(4)                18,500          0     18,500          0          0          0          0          0          0          0          0          0          0
      Loans                                       27          1          0          8          0          0          0          9          0          6          1          0          1
Items in process of collection                 8,894        638        476        348        977        398      1,826        345        330        434        572        370      2,180
Bank premises                                  1,783        101        197         53        157        143        276        165         63        122         82        256        167
Other assets(5)                               37,049      3,261     14,331        989      2,518      4,957      1,877      2,528        860        753        631        861      3,482
Interdistrict settlement account                   0    + 2,818    -26,578    + 6,537    +   856    +   987    + 8,148    +   308    + 1,610    -   830    + 1,501    + 1,430    + 3,213
          Total Assets                       798,177     41,161    323,774     29,816     35,800     62,089     61,688     69,278     24,384     16,417     22,075     36,356     75,339

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  February 16, 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             856,087     40,207    341,278     35,166     35,443     64,357     73,707     72,353     24,803     16,360     24,472     40,492     87,449
  Less: notes held by F.R. Banks              138,722      4,771     44,423      8,079      5,134     12,306     18,375      9,030      2,719      1,999      4,458      6,751     20,677
    Federal Reserve notes, net                717,365     35,436    296,856     27,087     30,309     52,051     55,332     63,322     22,083     14,361     20,014     33,742     66,772
Reverse repurchase agreements (1)              23,346      1,096     10,123        694        998      1,774      1,574      2,103        686        509        613      1,064      2,110
Deposits                                       22,459      1,229      7,785        807      1,777      2,781      2,280      1,469        614        381        620        715      2,003
  Depository institutions                      17,067      1,211      2,541        806      1,772      2,677      2,278      1,465        607        380        618        714      1,998
  U.S. Treasury, general account                5,010          0      5,010          0          0          0          0          0          0          0          0          0          0
  Foreign official                                 85          5         57          1          4          7          2          3          1          1          1          0          4
  Other                                           297         13        177          0          1         97          0          1          6          0          1          1          1
Deferred availability cash items                8,040        652        855        512        592        506      1,288        483        200        556        414        396      1,586
Other liabilities and accrued                 
  dividends (2)                                 2,926        164      1,037        104        159        270        225        276        114         91         95        146        246
   
    Total liabilities                         774,136     38,577    316,655     29,203     33,835     57,383     60,698     67,653     23,697     15,899     21,756     36,063     72,716
                              
Capital                    
Capital paid in                                12,444      1,638      3,431        298      1,093      2,538        426        787        401        253        154        136      1,288
Surplus                                        11,029        945      3,430        294        873      2,148        516        763        236        254        153        135      1,283
Other capital                                     568          0        258         21          0         20         47         75         50         10         13         22         52
     Total liabilities and capital            798,177     41,161    323,774     29,816     35,800     62,089     61,688     69,278     24,384     16,417     22,075     36,356     75,339
                              

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
                                          Feb 16, 2005
              
Federal Reserve notes outstanding             856,087
   Less: Notes held by F.R. Banks
         not subject to collateralization     138,722
      Federal Reserve Notes to be
         collateralized                       717,365 
Collateral held against Federal Reserve            
   notes                                      717,365
   Gold certificate account                    11,038
   Special drawing rights                 
     certificate account                        2,200
   U.S. Treasury and agency securities   
     pledged (1)                              704,127
   Other assets pledged                             0

Memo:
Total U.S. Treasury and agency 
       securities (1)                         736,359
   Less:face value of securities under
         reverse repurchase agreements         23,361
      U.S. Treasury and agency securities
             eligible to be pledged           712,998
   

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.