Reserve Bank credit, related items, and

reserve balances of depository institutions

at Federal Reserve Banks

Reserve Bank credit 783,258 - 3,182 + 41,948 789,996

Securities held outright 720,597 + 1,241 + 42,771 721,565

U.S. Treasury1 720,597 + 1,241 + 42,771 721,565

Bills2 264,078 + 1,073 + 13,915 264,263

Notes and bonds, nominal2 434,914 + 129 + 23,526 435,683

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

Inflation compensation3 2,497 + 40 + 686 2,511

Federal agency2 0 0 0 0

Repurchase agreements4 21,036 - 5,107 - 2,035 26,000

Loans to depository institutions 134 + 23 + 24 138

Primary credit 8 + 3 - 8 1

Secondary credit 0 0 0 0

Seasonal credit 126 + 19 + 33 138

Float -642 + 484 - 258 97

Other Federal Reserve assets 42,134 + 177 + 1,447 42,196

Gold stock 11,041 0 - 4 11,041

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

Treasury currency outstanding5 36,615 + 14 + 753 36,615

Total factors supplying reserve funds 833,115 - 3,168 + 42,697 839,853

Currency in circulation5 754,587 + 862 + 35,036 756,014

Reverse repurchase agreements6 25,149 - 1,206 + 5,344 25,308

Foreign official and international accounts 25,149 - 1,206 + 5,344 25,308

Dealers 0 0 0 0

Treasury cash holdings 254 - 3 - 56 254

Deposits with F.R. Banks, other than reserve balances 14,480 + 154 - 1,889 14,419

U.S. Treasury, general account 4,993 + 130 - 442 4,998

Foreign official 123 + 22 + 20 79

Service-related 9,028 0 - 1,533 9,028

Required clearing balances 9,028 0 - 1,533 9,028

Adjustments to compensate for float 0 0 0 0

Other 336 + 1 + 66 315

Other liabilities and capital 28,913 + 114 + 8,082 28,627

Total factors, other than reserve balances,

absorbing reserve funds 823,383 - 80 + 46,516 824,622

Reserve balances with Federal Reserve Banks 9,732 - 3,088 - 3,819 15,231

Memo (off-balance-sheet items):

Marketable securities held in custody for foreign

 official and international accounts2,7 1,399,360 + 420 + 206,627 1,398,378

U.S. Treasury 1,073,809 - 3,299 + 110,374 1,073,504

Federal agency 325,551 + 3,718 + 96,253 324,874

Securities lent to dealers 1,683 - 1,809 + 621 1,509

FEDERAL RESERVE statistical release

 May 12, 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

 May 11, 2005 Week ended

 May 11, 2005 May 4, 2005 May 12, 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 675 - 13 - 102

Securities, repurchase agreements, and loans 747,704 + 6,708 + 42,443

Securities held outright 721,565 + 2,193 + 43,730

U.S. Treasury1 721,565 + 2,193 + 43,730

Bills2 264,263 + 1,258 + 14,100

Notes and bonds, nominal2 435,683 + 898 + 24,295

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

Inflation compensation3 2,511 + 38 + 691

Federal agency2 0 0 0

Repurchase agreements4 26,000 + 4,500 - 1,250

Loans 138 + 14 - 38

Items in process of collection (695) 6,600 - 945 + 872

Bank premises 1,814 + 4 + 142

Other assets5 40,200 + 214 + 1,168

Total assets (695) 810,230 + 5,968 + 44,519

Liabilities

Federal Reserve notes, net of F.R. Bank holdings 720,324 + 587 + 34,263

Reverse repurchase agreements6 25,308 - 752 + 6,597

Deposits ( 0 ) 29,416 + 7,252 - 4,395

Depository institutions 24,025 + 6,915 - 4,496

U.S. Treasury, general account 4,998 + 380 + 49

Foreign official 79 0 - 4

Other ( 0 ) 315 - 42 + 56

Deferred availability cash items (695) 6,555 - 1,102 - 24

Other liabilities and accrued dividends7 3,334 + 42 + 1,017

Total liabilities (695) 784,937 + 6,026 + 37,456

Capital accounts

Capital paid in 12,771 + 18 + 3,699

Surplus 11,412 + 15 + 2,604

Other capital accounts 1,110 - 90 + 760

Total capital 25,293 - 58 + 7,063

H.4.1

2. Consolidated Statement of Condition of All Federal Reserve Banks

Millions of dollars

Change since

Wednesday

 May 12, 2004

Eliminations from

consolidation Wednesday

 May 11, 2005

Wednesday

 May 4, 2005

3. Maturity Distribution of Loans and Securities, May 11, 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 17 64,301 + 450 0 0 26,000 25,308

16 days to 90 days 121 154,816 + 1,768 0 0 0 0

91 days to 1 year 0 160,101 - 960 0 0 . . . . . . 

Over 1 year to 5 years . . . 213,945 + 140 0 0 . . . . . . 

Over 5 years to 10 years . . . 51,144 + 779 0 0 . . . . . . 

Over 10 years . . . 77,258 + 17 0 0 . . . . . . 

All 138 721,565 + 2,193 0 0 26,000 25,308

Assets, liabilities, and capital

Maturity
H.4.1

4. Statement of Condition of Each Federal Reserve Bank on May 11, 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 2,200 675 747,704 721,565 721,565 264,263 457,303 0 26,000 138 7,295 1,814 40,200 0 810,925

Assets, liabilities, and capital

 4,355 874 34 312,126 286,126 286,126 104,789 181,336 0 26,000 0 343 200 15,122 - 2,877 330,176

 510 115 22 36,917 36,917 36,917 13,520 23,397 0 0 0 317 104 3,462 - 100 41,347

 432 83 56 25,597 25,597 25,597 9,375 16,223 0 0 0 347 54 1,179 + 3,736 31,483

 453 104 54 30,483 30,483 30,483 11,164 19,319 0 0 0 628 156 2,626 + 1,506 36,009

 836 147 51 55,067 55,067 55,067 20,168 34,900 0 0 0 598 143 5,183 + 2,150 64,176

 945 166 81 55,828 55,824 55,824 20,445 35,379 0 0 4 1,427 274 2,297 + 1,177 62,196

 928 212 123 65,045 64,980 64,980 23,798 41,182 0 0 65 393 180 2,813 + 1,422 71,116

 327 71 36 22,409 22,391 22,391 8,200 14,191 0 0 18 250 61 973 - 152 23,976

 2   15,1 15,0 15,0 5,5 9,5    2 1 8 - 1 16,4
 858,402

 138,078 720,324 720,324 11,037 2,200 707,087 0 747,565 25,326 722,239

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.

 858,402 138,078 720,324 25,308 29,416 24,025 4,998 79 315 7,250 3,334 785,632 12,771 11,412 1,110 810,925

 39,696 4,414 35,282 1,295 1,348 1,342 0 5 1 524 202 38,651 1,550 1,147 0 41,347

 338,368 40,104 298,264 10,035 12,824 7,612 4,998 50 164 788 1,105 323,016 3,504 3,430 226 330,176

 36,097 7,345 28,752 898 528 527 0 1 0 560 127 30,864 303 294 22 31,483

 35,319 5,216 30,103 1,069 1,850 1,845 0 4 1 655 177 33,856 1,100 1,053 0 36,009

 65,933 12,212 53,721 1,931 2,613 2,461 0 7 145 513 338 59,116 2,560 2,148 351 64,176

 77,568 22,566 55,002 1,958 2,722 2,720 0 2 0 933 266 60,881 660 516 139 62,196

 73,635 9,441 64,194 2,279 2,252 2,248 0 3 1 387 316 69,428 830 763 94 71,116

 24,523 2,926 21,597 785 655 652 0 1 2 158 128 23,324 321 236 95 23,976

 16,4 2,0 14,4 5 3 3    4  15,8 2 2  16,4

H.4.1

4. Statement of Condition of Each Federal Reserve Bank on May 11, 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

 May 11, 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.