FEDERAL RESERVE Statistical Release

H.4.1
Factors Affecting Reserve Balances of Depository Institutions and
Condition Statement of Federal Reserve Banks
                                                                                               May 26, 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           May 25, 2005 May 18, 2005 May 26, 2004 May 25, 2005
Federal Reserve Banks

Reserve Bank Credit                                         786,594    -     965    +  42,926      791,892
 Securities held outright                                   722,188    +     577    +  42,161      722,992       
    U.S. Treasury (1)                                       722,188    +     577    +  42,161      722,992
       Bills (2)                                            264,353    +      69    +  13,953      264,515
       Notes and bonds, nominal (2)                         436,154    +     471    +  22,850      436,781
       Notes and bonds, inflation-indexed (2)                19,108            0    +   4,644       19,108
       Inflation compensation (3)                             2,573    +      38    +     714        2,587
    Federal agency (2)                                            0            0            0            0      
 Repurchase agreements(4)                                    26,357    -     214    +     250       31,000
 Loans to depository institutions                               150    +       8    +      32          149
    Primary credit                                                8    +       6    +       4            3
    Secondary credit                                              0            0            0            0
    Seasonal credit                                             142    +       3    +      28          146
 Float                                                         -787    +     472    -     565       -1,124
 Other Federal Reserve assets                                38,685    -   1,808    +   1,048       38,876
Gold stock                                                   11,041            0    -       4       11,041
Special drawing rights certificate account                    2,200            0            0        2,200
Treasury currency outstanding (5)                            36,643    +      14    +     740       36,643
       
Total factors supplying reserve funds                       836,479    -     951    +  43,663      841,777
                                                                   
Currency in circulation(5)                                  754,364    -       8    +  33,502      757,483
Reverse repurchase agreements (6)                            25,780    -   2,274    +   6,589       25,186
   Foreign official and international accounts               25,780    -   2,274    +   6,589       25,186
   Dealers                                                        0            0            0            0
Treasury cash holdings                                          262    +       7    -      68          275
Deposits with F.R.Banks, other than reserve balances         13,644    -     317    -   1,692       14,216       
  U.S. Treasury, general account                              4,936    -     273    -     276        5,518
  Foreign official                                               82    -       2    -       1           79
  Service-related                                             8,341            0    -   1,446        8,341
     Required clearing balances                               8,341            0    -   1,446        8,341
     Adjustments to compensate for float                          0            0            0            0
  Other                                                         286    -      41    +      32          278
Other liabilities and capital                                28,978    +     158    +   7,694       29,039

Total factors, other than reserve balances,                                        
   absorbing reserve funds                                  823,027    -   2,435    +  46,023      826,200

Reserve balances with Federal Reserve Banks                  13,451    +   1,483    -   2,361       15,577
                                                                

Memo (off-balance-sheet items):
  Marketable securities held in custody for foreign
         official and international accounts(2,7)         1,410,843    +   6,759    + 200,226    1,423,013
     U.S. Treasury                                        1,080,319    +   6,112    + 101,859    1,084,986
     Federal agency                                         330,524    +     647    +  98,367      338,027
  Securities lent to dealers                                  3,424    +     121    +      20        5,675   


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 May 25, 2005     May 18, 2005     May 26, 2004

Assets
Gold certificate account                                        11,037                0        -       4
Special drawing rights certificate account                       2,200                0                0
Coin                                                               633        -      23        -     108
Securities, repurchase agreements, and loans                   754,141        +   8,621        +  39,630
   Securities held outright                                    722,992        +   1,363        +  42,359
      U.S. Treasury (1)                                        722,992        +   1,363        +  42,359       
         Bills (2)                                             264,515        +     227        +  14,076
         Notes and bonds, nominal (2)                          436,781        +   1,098        +  22,918
         Notes and bonds, inflation-indexed (2)                 19,108                0        +   4,644
         Inflation compensation (3)                              2,587        +      38        +     720
      Federal agency (2)                                             0                0                0
   Repurchase agreements (4)                                    31,000        +   7,250        -   2,750    
   Loans                                                           149        +       8        +      21
Items in process of collection                      (761)        5,210        -     284        -     502
Bank premises                                                    1,818        +       3        +     140
Other assets (5)                                                37,021        +     315        +     870
      Total assets                                  (761)      812,060        +   8,632        +  40,027
                          
Liabilities
Federal Reserve notes net of FR Bank holdings                  721,744        +   2,470        +  32,700
Reverse repurchase agreements (6)                               25,186        -     993        +   5,855
Deposits                                              (0)       29,757        +   6,900        -   6,716       
  Depository institutions                                       23,881        +   6,490        -   7,401
  U.S. Treasury, general account                                 5,518        +     438        +     674
  Foreign official                                                  79        -      33        -       6
  Other                                               (0)          278        +       5        +      15
Deferred availability cash items                    (761)        6,334        -       3        +     342
Other liabilities and accrued dividends (7)                      3,424        +      74        +   1,035
      Total liabilities                             (761)      786,445        +   8,448        +  33,215
                          
Capital Accounts
Capital paid in                                                 12,859        -      50        +   3,764
Surplus                                                         11,417        +      24        +   2,570
Other capital accounts                                           1,340        +     212        +     478
      Total capital                                             25,615        +     184        +   6,811


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,       May 25, 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             139       62,611   +     909            0           0       31,000       25,186
16 days to 90 days          10      153,140   -      28            0           0            0            0
91 days to 1 year            0      160,928   -     655            0           0     ------      ------
Over 1 to 5 years     ------        215,344   +   1,064            0           0     ------      ------
Over 5 to 10 years    ------         53,677   +      56            0           0     ------      ------
Over 10 years         ------         77,291   +      16            0           0     ------      ------
                   		 	
All                        149      722,992   +   1,363            0           0       31,000      25,186

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       May 25, 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        510      4,355        432        453        836        945        928        327        212        318        549      1,172
Special drawing rights certificate acct.       2,200        115        874         83        104        147        166        212         71         30         66         98        234
Coin                                             633         23         35         49         50         46         79        115         34         21         44         48         89
Securities, repurchase agreements,
      and loans                              754,141     36,990    317,691     25,648     30,543     55,176     55,938     65,182     22,450     15,134     20,462     35,611     73,314
   Securities held outright                  722,992     36,990    286,691     25,648     30,543     55,176     55,934     65,109     22,435     15,100     20,449     35,608     73,307
      U.S. Treasury (1)                      722,992     36,990    286,691     25,648     30,543     55,176     55,934     65,109     22,435     15,100     20,449     35,608     73,307
         Bills (2)                           264,515     13,533    104,889      9,384     11,174     20,187     20,464     23,821      8,208      5,525      7,482     13,028     26,820
         Notes and bonds(3)                  458,477     23,457    181,802     16,264     19,368     34,989     35,470     41,288     14,227      9,576     12,968     22,581     46,487
         Federal agency (2)                        0          0          0          0          0          0          0          0          0          0          0          0          0
      Repurchase agreements(4)                31,000          0     31,000          0          0          0          0          0          0          0          0          0          0
      Loans                                      149          0          0          0          0          0          4         73         15         34         13          3          7
Items in process of collection                 5,971        296        341        345        611        435        550        310        179        228        579        464      1,632
Bank premises                                  1,818        104        200         54        159        143        274        181         62        121         85        269        166
Other assets(5)                               37,021      3,276     13,907      1,074      2,477      4,898      2,029      2,541        885        747        662        921      3,604
Interdistrict settlement account                   0    -    52    - 8,671    + 4,509    + 1,419    + 3,579    + 4,006    + 1,984    -   265    -   197    -   478    - 3,608    - 2,227
          Total Assets                       812,821     41,262    328,731     32,194     35,816     65,261     63,988     71,453     23,743     16,297     21,739     34,353     77,985

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       May 25, 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             861,375     39,552    337,960     36,348     35,146     66,584     79,358     74,741     24,412     16,343     23,987     39,943     87,001
  Less: notes held by F.R. Banks              139,631      4,192     41,410      7,003      5,328     12,240     22,768      9,783      2,941      2,081      4,598      8,360     18,927
    Federal Reserve notes, net                721,744     35,360    296,550     29,345     29,818     54,344     56,590     64,958     21,471     14,262     19,388     31,584     68,074
Reverse repurchase agreements (1)              25,186      1,289      9,987        893      1,064      1,922      1,949      2,268        782        526        712      1,240      2,554
Deposits                                       29,757      1,206     12,864        715      1,897      3,027      2,933      1,775        551        442        730        666      2,950
  Depository institutions                      23,881      1,194      7,122        714      1,892      2,929      2,931      1,772        548        441        728        665      2,946
  U.S. Treasury, general account                5,518          0      5,518          0          0          0          0          0          0          0          0          0          0
  Foreign official                                 79          5         51          1          4          7          2          3          1          1          1          0          4
  Other                                           278          8        173          0          1         91          0          0          3          0          1          0          0
Deferred availability cash items                7,095        500        790        486        670        556        876        434        151        451        478        377      1,325
Other liabilities and accrued                 
  dividends (2)                                 3,424        212      1,135        129        184        358        273        308        132        101        107        173        312
   
    Total liabilities                         787,206     38,566    321,326     31,569     33,633     60,207     62,621     69,743     23,087     15,783     21,416     34,040     75,215
                              
Capital                    
Capital paid in                                12,859      1,550      3,608        306      1,124      2,552        661        831        330        253        156        148      1,340
Surplus                                        11,417      1,146      3,430        294      1,059      2,148        516        763        236        254        153        135      1,283
Other capital                                   1,340          0        368         25          0        353        189        116         91          6         14         30        147
     Total liabilities and capital            812,821     41,262    328,731     32,194     35,816     65,261     63,988     71,453     23,743     16,297     21,739     34,353     77,985
                              

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
                                          May 25, 2005
              
Federal Reserve notes outstanding             861,375
   Less: Notes held by F.R. Banks
         not subject to collateralization     139,631
      Federal Reserve Notes to be
         collateralized                       721,744 
Collateral held against Federal Reserve            
   notes                                      721,744
   Gold certificate account                    11,037
   Special drawing rights                 
     certificate account                        2,200
   U.S. Treasury and agency securities   
     pledged (1)                              708,507
   Other assets pledged                             0

Memo:
Total U.S. Treasury and agency 
       securities (1)                         753,992
   Less:face value of securities under
         reverse repurchase agreements         25,204
      U.S. Treasury and agency securities
             eligible to be pledged           728,788
   

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.