Reserve Bank credit, related items, and

reserve balances of depository institutions

at Federal Reserve Banks

Reserve Bank credit 780,682 - 10,975 + 51,196 777,138

Securities held outright 717,822 + 3 + 51,024 717,823

U.S. Treasury1 717,822 + 3 + 51,024 717,823

Bills2 262,970 0 + 17,989 262,970

Notes and bonds, nominal2 436,429 0 + 30,256 436,429

Notes and bonds, inflation-indexed2 16,108 0 + 2,114 16,108

Inflation compensation3 2,315 + 3 + 666 2,316

Federal agency2 0 0 0 0

Repurchase agreements4 22,893 - 10,321 + 1,750 18,250

Loans to depository institutions 65 + 12 + 20 50

Primary credit 45 + 26 + 6 27

Secondary credit 0 0 0 0

Seasonal credit 20 - 15 + 14 23

Float 645 - 317 + 316 1,272

Other Federal Reserve assets 39,257 - 350 - 1,915 39,743

Gold stock 11,045 0 + 2 11,045

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

Treasury currency outstanding5 36,519 + 14 + 1,011 36,519

Total factors supplying reserve funds 830,446 - 10,961 + 52,209 826,902

Currency in circulation5 750,124 - 4,974 + 36,974 749,388

Reverse repurchase agreements6 29,964 + 62 + 9,521 27,231

Foreign official and international accounts 29,964 + 62 + 10,485 27,231

Dealers 0 0 - 964 0

Treasury cash holdings 273 + 2 - 51 250

Deposits with F.R. Banks, other than reserve balances 15,064 - 1,758 - 741 14,917

U.S. Treasury, general account 5,145 - 505 + 259 4,951

Foreign official 79 - 95 - 8 88

Service-related 9,593 - 425 - 942 9,593

Required clearing balances 9,593 - 425 - 589 9,593

Adjustments to compensate for float 0 0 - 352 0

Other 247 - 733 - 51 284

Other liabilities and capital 25,705 - 383 + 5,023 26,195

Total factors, other than reserve balances,

absorbing reserve funds 821,129 - 7,051 + 50,723 817,981

Reserve balances with Federal Reserve Banks 9,316 - 3,910 + 1,485 8,921

Memo (off-balance-sheet items):

Marketable securities held in custody for foreign

 official and international accounts2,7 1,351,056 + 6,846 + 268,125 1,341,811

U.S. Treasury 1,071,560 + 4,415 + 205,930 1,064,598

Federal agency 279,496 + 2,431 + 62,194 277,213

Securities lent to dealers 2,669 - 2,938 + 213 3,941

FEDERAL RESERVE statistical release

 January 13, 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

 Jan 12, 2005 Week ended

 Jan 12, 2005 Jan 5, 2005 Jan 14, 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 11,041 0 + 2

Special drawing rights certificate account 2,200 0 0

Coin 737 + 18 - 15

Securities, repurchase agreements, and loans 736,123 - 16,242 + 45,311

Securities held outright 717,823 + 2 + 51,025

U.S. Treasury1 717,823 + 2 + 51,025

Bills2 262,970 0 + 17,985

Notes and bonds, nominal2 436,429 0 + 30,256

Notes and bonds, inflation-indexed2 16,108 0 + 2,114

Inflation compensation3 2,316 + 3 + 670

Federal agency2 0 0 0

Repurchase agreements4 18,250 - 16,250 - 5,750

Loans 50 + 6 + 36

Items in process of collection (813) 7,994 - 1,547 + 427

Bank premises 1,776 + 2 + 151

Other assets5 40,161 + 534 + 457

Total assets (813) 800,032 - 17,235 + 46,333

Liabilities

Federal Reserve notes, net of F.R. Bank holdings 713,851 - 4,630 + 36,411

Reverse repurchase agreements6 27,231 - 1,416 + 6,510

Deposits ( 0 ) 26,032 - 10,898 - 1,278

Depository institutions 20,709 - 11,109 - 794

U.S. Treasury, general account 4,951 + 160 - 447

Foreign official 88 - 5 + 7

Other ( 0 ) 284 + 55 - 44

Deferred availability cash items (813) 6,723 - 966 - 1,184

Other liabilities and accrued dividends7 2,803 + 58 + 623

Total liabilities (813) 776,640 - 17,853 + 41,081

Capital accounts

Capital paid in 12,008 + 162 + 3,133

Surplus 10,953 + 133 + 2,106

Other capital accounts 431 + 322 + 12

Total capital 23,392 + 618 + 5,251

H.4.1

2. Consolidated Statement of Condition of All Federal Reserve Banks

Millions of dollars

Change since

Wednesday

 Jan 14, 2004

Eliminations from

consolidation Wednesday

 Jan 12, 2005

Wednesday

 Jan 5, 2005

3. Maturity Distribution of Loans and Securities, January 12, 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 38 46,453 + 229 0 0 18,250 27,231

16 days to 90 days 12 163,095 + 317 0 0 0 0

91 days to 1 year 0 169,865 - 546 0 0 . . . . . . 

Over 1 year to 5 years . . . 208,270 0 0 0 . . . . . . 

Over 5 years to 10 years . . . 54,373 0 0 0 . . . . . . 

Over 10 years . . . 75,766 0 0 0 . . . . . . 

All 50 717,823 + 2 0 0 18,250 27,231

Assets, liabilities, and capital

Maturity
H.4.1

4. Statement of Condition of Each Federal Reserve Bank on January 12, 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.

 11,041 2,200 737 736,123 717,823 717,823 262,970 454,853 0 18,250 50 8,807 1,776 40,161 0 800,845

Assets, liabilities, and capital

 4,651 874 46 329,520 311,258 311,258 114,027 197,230 0 18,250 12 474 196 14,305 -14,756 335,309

 494 115 18 33,712 33,707 33,707 12,348 21,359 0 0 5 532 100 1,832 + 2,702 39,506

 382 83 55 21,357 21,350 21,350 7,821 13,528 0 0 7 373 53 1,170 + 3,731 27,204

 452 104 52 30,673 30,673 30,673 11,237 19,436 0 0 0 665 157 2,496 - 901 33,698

 819 147 67 54,558 54,558 54,558 19,987 34,571 0 0 0 464 144 6,351 - 991 61,560

 894 166 81 48,408 48,408 48,408 17,734 30,674 0 0 0 732 277 2,319 + 7,460 60,338

 924 212 117 64,668 64,660 64,660 23,688 40,972 0 0 7 735 159 3,647 - 774 69,688

 325 71 34 21,089 21,089 21,089 7,726 13,363 0 0 0 402 67 1,053 + 1,125 24,166

 2   15,6 15,6 15,6 5,7 9,9    5 1 1,1 - 1,3 16,4
 850,690

 136,839 713,851 713,851 11,041 2,200 700,611 0 736,073 27,247 708,826

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.

 850,690 136,839 713,851 27,231 26,032 20,709 4,951 88 284 7,536 2,803 777,453 12,008 10,953 431 800,845

 38,429 4,516 33,914 1,279 1,052 1,049 0 2 2 556 153 36,954 1,638 905 10 39,506

 340,560 39,392 301,168 11,808 13,507 8,337 4,951 65 154 766 983 328,233 3,430 3,430 217 335,309

 32,502 8,181 24,321 810 893 892 0 1 0 477 102 26,604 294 294 13 27,204

 34,417 5,584 28,833 1,164 1,052 1,048 0 2 1 598 147 31,794 1,066 838 0 33,698

 64,887 12,561 52,326 2,070 1,994 1,864 0 7 122 608 260 57,257 2,148 2,148 6 61,560

 72,733 17,995 54,738 1,836 1,651 1,649 0 2 0 906 220 59,351 424 516 47 60,338

 72,976 9,552 63,424 2,453 1,529 1,525 0 3 0 422 269 68,097 785 763 42 69,688

 24,914 3,000 21,914 800 530 528 0 1 2 164 110 23,519 398 236 13 24,166

 16,4 2,0 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 January 12, 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

 Jan 12, 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.