FEDERAL RESERVE Statistical Release

H.4.1
Factors Affecting Reserve Balances of Depository Institutions and
Condition Statement of Federal Reserve Banks
                                                                                              March 3, 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            Mar 2, 2005 Feb 23, 2005  Mar 3, 2004  Mar 2, 2005
Federal Reserve Banks

Reserve Bank Credit                                         784,887    +   4,120    +  48,292      780,946
 Securities held outright                                   717,686    -     159    +  46,100      717,495       
    U.S. Treasury (1)                                       717,686    -     159    +  46,100      717,495
       Bills (2)                                            263,005            0    +  16,805      263,005
       Notes and bonds, nominal (2)                         433,286    -     143    +  23,502      433,096
       Notes and bonds, inflation-indexed (2)                19,108            0    +   5,114       19,108
       Inflation compensation (3)                             2,286    -      17    +     678        2,286
    Federal agency (2)                                            0            0            0            0      
 Repurchase agreements(4)                                    26,571    +   2,607    +     285       24,250
 Loans to depository institutions                                81    +      60    +      57          325
    Primary credit                                               64    +      59    +      61          306
    Secondary credit                                              0            0            0            0
    Seasonal credit                                              17    +       1    -       4           20
 Float                                                          937    +   1,255    +     787         -655
 Other Federal Reserve assets                                39,612    +     357    +   1,063       39,531
Gold stock                                                   11,042            0    -       3       11,042
Special drawing rights certificate account                    2,200            0            0        2,200
Treasury currency outstanding (5)                            36,546    +      14    +     897       36,546
       
Total factors supplying reserve funds                       834,675    +   4,133    +  49,186      830,734
                                                                   
Currency in circulation(5)                                  751,863    -   1,394    +  38,474      752,653
Reverse repurchase agreements (6)                            24,390    +     533    +   3,781       25,375
   Foreign official and international accounts               24,390    +     533    +   3,781       25,375
   Dealers                                                        0            0            0            0
Treasury cash holdings                                          263    -       6    -      54          257
Deposits with F.R.Banks, other than reserve balances         14,237    -      63    -   1,994       13,961       
  U.S. Treasury, general account                              5,199    -      51    -     419        4,906
  Foreign official                                               83    +       2    -       8           83
  Service-related                                             8,672            0    -   1,535        8,672
     Required clearing balances                               8,672    +       1    -   1,406        8,672
     Adjustments to compensate for float                          0            0    -     128            0
  Other                                                         283    -      13    -      33          301
Other liabilities and capital                                27,580    +     145    +   7,613       27,245

Total factors, other than reserve balances,                                        
   absorbing reserve funds                                  818,333    -     786    +  47,820      819,492

Reserve balances with Federal Reserve Banks                  16,342    +   4,919    +   1,366       11,242
                                                                

Memo (off-balance-sheet items):
  Marketable securities held in custody for foreign
         official and international accounts(2,7)         1,378,687    +  13,982    + 227,007    1,381,253
     U.S. Treasury                                        1,079,753    +   2,396    + 163,255    1,079,920
     Federal agency                                         298,934    +  11,587    +  63,752      301,333
  Securities lent to dealers                                  2,003    -     963    +     599        2,669   


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  Mar 2, 2005     Feb 23, 2005      Mar 3, 2004

Assets
Gold certificate account                                        11,037        -       1        -       4
Special drawing rights certificate account                       2,200                0                0
Coin                                                               793        -      17        -      74
Securities, repurchase agreements, and loans                   742,071        -   1,043        +  46,663
   Securities held outright                                    717,495        -     344        +  45,863
      U.S. Treasury (1)                                        717,495        -     344        +  45,863       
         Bills (2)                                             263,005                0        +  16,765
         Notes and bonds, nominal (2)                          433,096        -     333        +  23,312
         Notes and bonds, inflation-indexed (2)                 19,108                0        +   5,114
         Inflation compensation (3)                              2,286        -      11        +     673
      Federal agency (2)                                             0                0                0
   Repurchase agreements (4)                                    24,250        -   1,000        +     500    
   Loans                                                           325        +     301        +     299
Items in process of collection                    (1,423)        7,379        -   2,276        -     675
Bank premises                                                    1,791        +       7        +     142
Other assets (5)                                                37,715        +      44        +   1,170
      Total assets                                (1,423)      802,986        -   3,286        +  47,223
                          
Liabilities
Federal Reserve notes net of FR Bank holdings                  717,152        -   1,219        +  36,922
Reverse repurchase agreements (6)                               25,375        +   1,901        +   6,489
Deposits                                              (0)       25,177        -   3,168        -   3,024       
  Depository institutions                                       19,888        -   3,614        -   3,199
  U.S. Treasury, general account                                 4,906        +     419        +     208
  Foreign official                                                  83        +       2        +       1
  Other                                               (0)          301        +      26        -      34
Deferred availability cash items                  (1,423)        8,036        -     745        -     644
Other liabilities and accrued dividends (7)                      3,033        +      22        +     813
      Total liabilities                           (1,423)      778,774        -   3,208        +  40,557
                          
Capital Accounts
Capital paid in                                                 12,522        +      14        +   3,556
Surplus                                                         11,125        +      11        +   2,617
Other capital accounts                                             565        -     103        +     493
      Total capital                                             24,213        -      77        +   6,666


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,      March 2, 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             306       47,997   -   8,855            0           0       24,250       25,375
16 days to 90 days          20      170,674   +   7,490            0           0            0            0
91 days to 1 year            0      158,827   +   1,032            0           0     ------      ------
Over 1 to 5 years     ------        212,790   -       4            0           0     ------      ------
Over 5 to 10 years    ------         50,277   -       2            0           0     ------      ------
Over 10 years         ------         76,929   -       5            0           0     ------      ------
                   		 	
All                        325      717,495   -     344            0           0       24,250      25,375

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      March 2, 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        494      4,647        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                                             793         22         52         61         59         70         82        126         37         25         54         79        128
Securities, repurchase agreements,
      and loans                              742,071     33,692    335,365     21,340     30,954     54,533     48,386     64,639     21,079     15,661     18,856     32,715     64,851
   Securities held outright                  717,495     33,692    311,115     21,340     30,659     54,533     48,386     64,631     21,079     15,649     18,855     32,714     64,842
      U.S. Treasury (1)                      717,495     33,692    311,115     21,340     30,659     54,533     48,386     64,631     21,079     15,649     18,855     32,714     64,842
         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)                  454,490     21,342    197,073     13,518     19,420     34,543     30,650     40,940     13,352      9,913     11,943     20,723     41,074
         Federal agency (2)                        0          0          0          0          0          0          0          0          0          0          0          0          0
      Repurchase agreements(4)                24,250          0     24,250          0          0          0          0          0          0          0          0          0          0
      Loans                                      325          0          0          0        295          0          0          9          0         11          1          1          9
Items in process of collection                 8,802        463        699        350        909        523        942        777        382        440        700        476      2,141
Bank premises                                  1,791        101        198         53        156        143        275        170         64        122         82        259        166
Other assets(5)                               37,715      3,310     14,579      1,006      2,550      5,029      1,947      2,584        873        769        645        880      3,543
Interdistrict settlement account                   0    + 3,082    -26,630    + 6,416    -    46    + 1,684    + 7,219    +   593    + 1,319    -   797    + 1,717    +   986    + 4,457
          Total Assets                       804,409     41,278    329,785     29,691     35,139     62,948     59,911     70,025     24,150     16,467     22,420     36,019     76,575

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      March 2, 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             855,319     40,108    340,823     35,120     35,530     65,077     73,182     72,603     24,743     16,337     24,370     40,315     87,111
  Less: notes held by F.R. Banks              138,166      4,733     43,021      7,945      5,367     12,320     19,563      9,082      2,865      1,981      4,294      6,968     20,028
    Federal Reserve notes, net                717,152     35,376    297,802     27,175     30,163     52,757     53,619     63,520     21,878     14,356     20,076     33,347     67,083
Reverse repurchase agreements (1)              25,375      1,192     11,003        755      1,084      1,929      1,711      2,286        745        553        667      1,157      2,293
Deposits                                       25,177      1,254     11,659        582        883      2,545      2,132      1,636        480        354        732        641      2,277
  Depository institutions                      19,888      1,245      6,529        581        879      2,417      2,130      1,633        476        353        730        640      2,272
  U.S. Treasury, general account                4,906          0      4,906          0          0          0          0          0          0          0          0          0          0
  Foreign official                                 83          5         55          1          4          7          2          3          1          1          1          0          4
  Other                                           301          3        169          0          0        121          0          0          3          0          1          1          0
Deferred availability cash items                9,459        736      1,099        469        830        629      1,240        693        217        596        532        434      1,986
Other liabilities and accrued                 
  dividends (2)                                 3,033        170      1,071        106        165        291        227        290        117         91         98        149        256
   
    Total liabilities                         780,196     38,727    322,634     29,087     33,125     58,151     58,929     68,426     23,437     15,952     22,105     35,729     73,895
                              
Capital                    
Capital paid in                                12,522      1,554      3,491        299      1,098      2,539        428        786        403        253        155        143      1,372
Surplus                                        11,125        997      3,430        294        916      2,148        516        763        236        254        153        135      1,283
Other capital                                     565          0        231         11          0        110         38         50         74          8          7         12         26
     Total liabilities and capital            804,409     41,278    329,785     29,691     35,139     62,948     59,911     70,025     24,150     16,467     22,420     36,019     76,575
                              

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
                                           Mar 2, 2005
              
Federal Reserve notes outstanding             855,319
   Less: Notes held by F.R. Banks
         not subject to collateralization     138,166
      Federal Reserve Notes to be
         collateralized                       717,152 
Collateral held against Federal Reserve            
   notes                                      717,152
   Gold certificate account                    11,037
   Special drawing rights                 
     certificate account                        2,200
   U.S. Treasury and agency securities   
     pledged (1)                              703,915
   Other assets pledged                             0

Memo:
Total U.S. Treasury and agency 
       securities (1)                         741,745
   Less:face value of securities under
         reverse repurchase agreements         25,393
      U.S. Treasury and agency securities
             eligible to be pledged           716,352
   

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.