Reserve Bank credit, related items, and

reserve balances of depository institutions

at Federal Reserve Banks

Reserve Bank credit 783,495 - 1,865 + 52,219 778,455

Securities held outright 717,522 + 10 + 44,004 717,526

U.S. Treasury1 717,522 + 10 + 44,004 717,526

Bills2 263,005 0 + 16,536 263,005

Notes and bonds, nominal2 433,096 0 + 22,179 433,096

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

Inflation compensation3 2,312 + 10 + 644 2,316

Federal agency2 0 0 0 0

Repurchase agreements4 25,964 - 2,143 + 7,178 19,250

Loans to depository institutions 43 - 1 - 19 43

Primary credit 5 - 3 - 21 0

Secondary credit 0 0 0 0

Seasonal credit 38 + 3 + 2 43

Float -721 + 12 + 58 1,086

Other Federal Reserve assets 40,687 + 257 + 997 40,549

Gold stock 11,042 0 - 3 11,042

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

Treasury currency outstanding5 36,532 + 14 + 798 36,532

Total factors supplying reserve funds 833,269 - 1,850 + 53,014 828,228

Currency in circulation5 751,984 + 59 + 37,832 753,105

Reverse repurchase agreements6 26,048 + 683 + 6,809 24,491

Foreign official and international accounts 26,048 + 683 + 6,809 24,491

Dealers 0 0 0 0

Treasury cash holdings 257 + 5 - 82 274

Deposits with F.R. Banks, other than reserve balances 14,041 - 1,254 - 2,218 13,732

U.S. Treasury, general account 4,968 - 150 - 403 4,677

Foreign official 88 0 + 8 83

Service-related 8,733 - 821 - 1,818 8,733

Required clearing balances 8,733 - 821 - 1,676 8,733

Adjustments to compensate for float 0 0 - 142 0

Other 252 - 283 - 4 239

Other liabilities and capital 27,975 - 153 + 7,011 27,480

Total factors, other than reserve balances,

absorbing reserve funds 820,303 - 663 + 49,351 819,082

Reserve balances with Federal Reserve Banks 12,965 - 1,188 + 3,662 9,146

Memo (off-balance-sheet items):

Marketable securities held in custody for foreign

 official and international accounts2,7 1,388,686 + 3,747 + 212,502 1,391,290

U.S. Treasury 1,085,472 + 324 + 148,821 1,085,236

Federal agency 303,213 + 3,422 + 63,680 306,054

Securities lent to dealers 2,690 + 867 + 949 4,354

FEDERAL RESERVE statistical release

 March 24, 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 23, 2005 Week ended

 Mar 23, 2005 Mar 16, 2005 Mar 24, 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 730 - 16 - 104

Securities, repurchase agreements, and loans 736,819 - 11,005 + 43,026

Securities held outright 717,526 + 11 + 43,531

U.S. Treasury1 717,526 + 11 + 43,531

Bills2 263,005 0 + 16,536

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

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

Inflation compensation3 2,316 + 10 + 642

Federal agency2 0 0 0

Repurchase agreements4 19,250 - 11,000 - 500

Loans 43 - 15 - 5

Items in process of collection (978) 7,721 + 1,067 + 3,094

Bank premises 1,801 + 4 + 146

Other assets5 38,582 - 147 + 339

Total assets (978) 798,889 - 10,098 + 46,496

Liabilities

Federal Reserve notes, net of F.R. Bank holdings 717,572 - 211 + 37,125

Reverse repurchase agreements6 24,491 - 448 + 4,504

Deposits ( 0 ) 22,691 - 8,682 - 2,756

Depository institutions 17,693 - 8,598 - 3,023

U.S. Treasury, general account 4,677 - 69 + 273

Foreign official 83 + 1 + 3

Other ( 0 ) 239 - 15 - 8

Deferred availability cash items (978) 6,655 - 400 + 850

Other liabilities and accrued dividends7 3,180 + 92 + 915

Total liabilities (978) 774,589 - 9,650 + 40,638

Capital accounts

Capital paid in 12,558 + 22 + 3,594

Surplus 11,200 - 47 + 2,353

Other capital accounts 542 - 424 - 89

Total capital 24,300 - 449 + 5,859

H.4.1

2. Consolidated Statement of Condition of All Federal Reserve Banks

Millions of dollars

Change since

Wednesday

 Mar 24, 2004

Eliminations from

consolidation Wednesday

 Mar 23, 2005

Wednesday

 Mar 16, 2005

3. Maturity Distribution of Loans and Securities, March 23, 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 39 54,765 - 32 0 0 19,250 24,491

16 days to 90 days 4 163,118 - 490 0 0 0 0

91 days to 1 year 0 159,615 + 522 0 0 . . . . . . 

Over 1 year to 5 years . . . 212,802 + 4 0 0 . . . . . . 

Over 5 years to 10 years . . . 50,283 + 2 0 0 . . . . . . 

Over 10 years . . . 76,943 + 5 0 0 . . . . . . 

All 43 717,526 + 11 0 0 19,250 24,491

Assets, liabilities, and capital

Maturity
H.4.1

4. Statement of Condition of Each Federal Reserve Bank on March 23, 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 2,200 730 736,819 717,526 717,526 263,005 454,520 0 19,250 43 8,699 1,801 38,582 0 799,867

Assets, liabilities, and capital

 4,647 874 49 330,379 311,129 311,129 114,042 197,086 0 19,250 0 394 201 14,969 -24,741 326,772

 494 115 22 33,693 33,693 33,693 12,350 21,343 0 0 0 402 104 3,329 + 2,672 40,831

 382 83 63 21,341 21,341 21,341 7,822 13,519 0 0 0 290 53 1,126 + 8,277 31,615

 452 104 54 30,660 30,660 30,660 11,238 19,422 0 0 0 1,322 157 2,580 - 326 35,003

 819 147 59 54,535 54,535 54,535 19,990 34,546 0 0 0 550 143 5,071 + 1,416 62,741

 894 166 71 48,388 48,388 48,388 17,736 30,652 0 0 0 1,467 275 1,986 + 6,190 59,438

 924 212 119 64,656 64,634 64,634 23,691 40,942 0 0 22 590 170 2,662 + 572 69,905

 325 71 32 21,084 21,080 21,080 7,727 13,353 0 0 4 365 65 873 + 1,191 24,005

 2   15,6 15,6 15,6 5,7 9,9    3 1 7 - 6 16,4
 854,914

 137,342 717,572 717,572 11,037 2,200 704,334 0 736,776 24,510 712,266

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.

 854,914 137,342 717,572 24,491 22,691 17,693 4,677 83 239 7,632 3,180 775,567 12,558 11,200 542 799,867

 40,016 4,716 35,300 1,150 974 967 0 5 2 643 184 38,250 1,554 1,027 0 40,831

 339,578 40,511 299,067 10,620 8,150 3,250 4,677 55 168 776 1,118 319,730 3,492 3,430 120 326,772

 35,556 7,837 27,719 728 1,923 1,922 0 1 0 537 110 31,017 300 294 4 31,615

 35,431 5,279 30,153 1,047 1,043 1,038 0 4 1 526 171 32,939 1,099 964 0 35,003

 65,601 12,707 52,894 1,861 2,299 2,230 0 7 62 514 320 57,888 2,539 2,148 166 62,741

 72,993 19,708 53,284 1,652 2,179 2,177 0 2 0 1,125 234 58,475 429 516 19 59,438

 72,685 9,173 63,512 2,206 1,763 1,760 0 3 0 507 300 68,288 817 763 37 69,905

 24,729 3,049 21,679 720 594 590 0 1 3 152 121 23,267 404 236 98 24,005

 16,3 1,8 14,4 5 3 3    4  15,9 2 2  16,4

H.4.1

4. Statement of Condition of Each Federal Reserve Bank on March 23, 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 23, 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.