FEDERAL RESERVE Statistical Release H.4.1 Factors Affecting Reserve Balances of Depository Institutions and Condition Statement of Federal Reserve Banks December 28, 2006 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 Dec 27, 2006 Dec 20, 2006 Dec 28, 2005 Dec 27, 2006 Federal Reserve Banks Reserve Bank Credit 852,198 + 6,988 + 25,801 855,179 Securities held outright 778,951 + 2,021 + 34,744 778,938 U.S. Treasury (1) 778,951 + 2,021 + 34,744 778,938 Bills (2) 277,019 0 + 5,749 277,019 Notes and bonds, nominal (2) 467,864 + 2,066 + 18,269 467,864 Notes and bonds, inflation-indexed (2) 30,105 0 + 10,122 30,105 Inflation compensation (3) 3,964 - 44 + 606 3,951 Federal agency (2) 0 0 0 0 Repurchase agreements(4) 33,036 + 4,107 - 9,143 36,000 Loans to depository institutions 149 - 43 + 24 488 Primary credit 64 - 43 + 13 407 Secondary credit 0 0 0 0 Seasonal credit 85 0 + 11 81 Float 883 - 13 + 76 411 Other Federal Reserve assets 39,180 + 917 + 100 39,342 Gold stock 11,041 0 0 11,041 Special drawing rights certificate account 2,200 0 0 2,200 Treasury currency outstanding (5) 38,245 + 14 + 1,705 38,245 Total factors supplying reserve funds 903,684 + 7,003 + 27,506 906,665 Currency in circulation(5) 816,870 + 8,180 + 24,815 819,930 Reverse repurchase agreements (6) 30,509 + 968 + 1,932 32,126 Foreign official and international accounts 30,509 + 968 + 1,932 32,126 Dealers 0 0 0 0 Treasury cash holdings 230 + 26 + 27 252 Deposits with F.R.Banks, other than reserve balances 12,434 - 994 - 1,466 11,656 U.S. Treasury, general account 5,240 - 826 + 387 4,470 Foreign official 92 - 3 + 8 92 Service-related 6,836 - 186 - 1,825 6,836 Required clearing balances 6,836 - 179 - 1,812 6,836 Adjustments to compensate for float 0 - 7 - 13 0 Other 266 + 21 - 37 258 Other liabilities and capital 36,824 + 398 + 4,175 36,717 Total factors, other than reserve balances, absorbing reserve funds 896,867 + 8,577 + 29,482 900,680 Reserve balances with Federal Reserve Banks 6,817 - 1,574 - 1,976 5,984 Memo (off-balance-sheet items): Marketable securities held in custody for foreign official and international accounts(2,7) 1,752,102 + 10,000 + 233,039 1,761,941 U.S. Treasury 1,155,885 - 714 + 56,151 1,162,198 Federal agency 596,217 + 10,715 + 176,888 599,743 Securities lent to dealers 3,325 + 2,362 + 2,029 3,141 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 Dec 27, 2006 Dec 20, 2006 Dec 28, 2005 Assets Gold certificate account 11,037 0 0 Special drawing rights certificate account 2,200 0 0 Coin 800 - 21 + 112 Securities, repurchase agreements, and loans 815,426 + 4,197 + 25,852 Securities held outright 778,938 + 1,300 + 34,728 U.S. Treasury (1) 778,938 + 1,300 + 34,728 Bills (2) 277,019 0 + 5,749 Notes and bonds, nominal (2) 467,864 + 1,342 + 18,269 Notes and bonds, inflation-indexed (2) 30,105 0 + 10,122 Inflation compensation (3) 3,951 - 42 + 589 Federal agency (2) 0 0 0 Repurchase agreements (4) 36,000 + 2,500 - 9,250 Loans 488 + 398 + 374 Items in process of collection (1,174) 5,137 + 323 - 2,613 Bank premises 1,944 + 13 + 118 Other assets (5) 37,349 + 436 + 10 Total assets (1,174) 873,894 + 4,950 + 23,480 Liabilities Federal Reserve notes net of FR Bank holdings 782,733 + 6,824 + 23,487 Reverse repurchase agreements (6) 32,126 + 2,223 + 1,754 Deposits (0) 17,591 - 4,681 - 4,075 Depository institutions 12,772 - 3,717 - 4,290 U.S. Treasury, general account 4,470 - 966 + 227 Foreign official 92 + 3 + 7 Other (0) 258 0 - 18 Deferred availability cash items (1,174) 4,727 + 260 - 1,970 Other liabilities and accrued dividends (7) 5,987 + 38 + 1,568 Total liabilities (1,174) 843,163 + 4,664 + 20,763 Capital Accounts Capital paid in 15,328 + 2 + 1,792 Surplus 10,554 0 - 1,076 Other capital accounts 4,848 + 283 + 1,999 Total capital 30,731 + 286 + 2,717 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, December 27, 2006 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 488 57,557 - 993 0 0 36,000 32,126 16 days to 90 days 0 163,462 + 1,593 0 0 0 0 91 days to 1 year 0 185,595 - 603 0 0 ------ ------ Over 1 to 5 years ------ 224,185 + 1,329 0 0 ------ ------ Over 5 to 10 years ------ 67,650 - 9 0 0 ------ ------ Over 10 years ------ 80,489 - 16 0 0 ------ ------ All 488 778,938 + 1,300 0 0 36,000 32,126 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 December 27, 2006 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 11,037 486 4,139 463 446 853 1,023 947 328 211 324 575 1,242 Special drawing rights certificate acct. 2,200 115 874 83 104 147 166 212 71 30 66 98 234 Coin 800 23 48 53 77 78 94 97 39 30 61 80 119 Securities, repurchase agreements, and loans 815,426 37,178 324,306 33,820 33,634 65,111 65,216 71,550 24,749 15,856 22,827 34,958 86,221 Securities held outright 778,938 37,170 288,306 33,818 33,634 64,706 65,210 71,522 24,748 15,835 22,809 34,958 86,221 U.S. Treasury (1) 778,938 37,170 288,306 33,818 33,634 64,706 65,210 71,522 24,748 15,835 22,809 34,958 86,221 Bills (2) 277,019 13,219 102,532 12,027 11,962 23,012 23,191 25,436 8,801 5,632 8,112 12,432 30,663 Notes and bonds(3) 501,920 23,951 185,774 21,791 21,673 41,695 42,019 46,086 15,947 10,204 14,697 22,526 55,558 Federal agency (2) 0 0 0 0 0 0 0 0 0 0 0 0 0 Repurchase agreements(4) 36,000 0 36,000 0 0 0 0 0 0 0 0 0 0 Loans 488 9 0 1 0 405 6 28 1 21 18 0 0 Items in process of collection 6,311 247 44 611 774 410 366 499 172 350 769 595 1,475 Bank premises 1,944 118 212 58 158 167 231 207 79 116 158 260 182 Other assets(5) 37,349 1,261 12,195 1,891 2,313 7,054 2,772 2,818 766 718 745 981 3,834 Interdistrict settlement account 0 + 305 -28,259 + 861 - 2,575 + 3,767 +12,370 - 3,568 + 2,091 - 328 + 4,636 + 3,433 + 7,268 Total Assets 875,068 39,733 313,560 37,839 34,931 77,588 82,238 72,762 28,295 16,983 29,586 40,979 100,575 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 December 27, 2006 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 959,287 39,169 342,498 38,763 36,445 75,267 97,746 80,081 29,205 17,483 30,821 56,901 114,907 Less: notes held by F.R. Banks 176,554 3,149 56,921 7,288 6,736 11,492 23,731 14,441 3,141 2,555 3,738 19,223 24,141 Federal Reserve notes, net 782,733 36,020 285,578 31,475 29,709 63,775 74,015 65,641 26,064 14,928 27,083 37,678 90,767 Reverse repurchase agreements (1) 32,126 1,533 11,891 1,395 1,387 2,669 2,689 2,950 1,021 653 941 1,442 3,556 Deposits 17,591 713 6,573 600 954 1,672 1,892 1,502 526 237 463 700 1,761 Depository institutions 12,772 710 1,858 597 949 1,599 1,889 1,499 519 236 461 699 1,757 U.S. Treasury, general account 4,470 0 4,470 0 0 0 0 0 0 0 0 0 0 Foreign official 92 1 63 2 3 11 3 3 0 1 1 0 4 Other 258 1 182 1 3 62 0 0 6 0 2 0 0 Deferred availability cash items 5,900 373 125 759 388 583 551 340 125 449 529 425 1,253 Other liabilities and accrued dividends (2) 5,987 276 1,941 305 296 682 495 542 216 155 202 293 584 Total liabilities 844,337 38,914 306,108 34,534 32,735 69,380 79,643 70,975 27,952 16,421 29,217 40,539 97,920 Capital Capital paid in 15,328 396 3,727 1,810 1,087 4,097 1,276 858 166 276 176 211 1,247 Surplus 10,554 309 1,604 723 996 3,238 872 838 124 235 166 121 1,328 Other capital 4,848 114 2,121 771 113 872 447 91 53 51 27 108 80 Total liabilities and capital 875,068 39,733 313,560 37,839 34,931 77,588 82,238 72,762 28,295 16,983 29,586 40,979 100,575 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 Dec 27, 2006 Federal Reserve notes outstanding 959,287 Less: Notes held by F.R. Banks not subject to collateralization 176,554 Federal Reserve Notes to be collateralized 782,733 Collateral held against Federal Reserve notes 782,733 Gold certificate account 11,037 Special drawing rights certificate account 2,200 U.S. Treasury and agency securities pledged (1) 769,496 Other assets pledged 0 Memo: Total U.S. Treasury and agency securities (1) 814,938 Less:face value of securities under reverse repurchase agreements 32,171 U.S. Treasury and agency securities eligible to be pledged 782,767 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.