FEDERAL RESERVE Statistical Release H.4.1 Factors Affecting Reserve Balances of Depository Institutions and Condition Statement of Federal Reserve Banks December 15, 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 Dec 14, 2005 Dec 7, 2005 Dec 15, 2004 Dec 14, 2005 Federal Reserve Banks Reserve Bank Credit 811,624 - 2,020 + 28,964 813,567 Securities held outright 744,185 + 10 + 26,596 744,189 U.S. Treasury (1) 744,185 + 10 + 26,596 744,189 Bills (2) 271,270 0 + 8,472 271,270 Notes and bonds, nominal (2) 449,595 0 + 13,166 449,595 Notes and bonds, inflation-indexed (2) 19,983 0 + 3,875 19,983 Inflation compensation (3) 3,337 + 11 + 1,083 3,341 Federal agency (2) 0 0 0 0 Repurchase agreements(4) 27,179 - 3,714 + 2,358 28,250 Loans to depository institutions 81 - 5 + 20 89 Primary credit 11 - 6 + 6 12 Secondary credit 0 0 0 0 Seasonal credit 70 + 1 + 14 77 Float 2,046 + 1,080 + 2,292 2,361 Other Federal Reserve assets 38,133 + 609 - 2,302 38,678 Gold stock 11,041 0 - 2 11,041 Special drawing rights certificate account 2,200 0 0 2,200 Treasury currency outstanding (5) 36,513 + 14 + 78 36,513 Total factors supplying reserve funds 861,378 - 2,006 + 29,040 863,321 Currency in circulation(5) 779,342 + 1,276 + 28,194 782,179 Reverse repurchase agreements (6) 25,172 - 3,628 - 2,290 26,575 Foreign official and international accounts 25,172 - 3,628 - 2,290 26,575 Dealers 0 0 0 0 Treasury cash holdings 199 - 5 - 78 198 Deposits with F.R.Banks, other than reserve balances 14,563 + 523 - 603 14,122 U.S. Treasury, general account 5,396 + 464 + 349 4,990 Foreign official 99 + 17 + 12 84 Service-related 8,804 + 70 - 968 8,804 Required clearing balances 8,804 + 70 - 958 8,804 Adjustments to compensate for float 0 0 - 11 0 Other 265 - 28 + 6 244 Other liabilities and capital 33,108 + 983 + 7,425 32,791 Total factors, other than reserve balances, absorbing reserve funds 852,384 - 851 + 32,648 855,865 Reserve balances with Federal Reserve Banks 8,994 - 1,155 - 3,608 7,456 Memo (off-balance-sheet items): Marketable securities held in custody for foreign official and international accounts(2,7) 1,510,484 - 890 + 184,395 1,510,793 U.S. Treasury 1,103,050 - 2,318 + 45,913 1,102,760 Federal agency 407,433 + 1,427 + 138,481 408,033 Securities lent to dealers 3,820 + 484 + 848 2,115 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 14, 2005 Dec 7, 2005 Dec 15, 2004 Assets Gold certificate account 11,037 0 - 2 Special drawing rights certificate account 2,200 0 0 Coin 711 + 16 - 12 Securities, repurchase agreements, and loans 772,528 - 3,770 + 26,061 Securities held outright 744,189 + 10 + 26,528 U.S. Treasury (1) 744,189 + 10 + 26,528 Bills (2) 271,270 0 + 8,409 Notes and bonds, nominal (2) 449,595 0 + 13,166 Notes and bonds, inflation-indexed (2) 19,983 0 + 3,875 Inflation compensation (3) 3,341 + 11 + 1,079 Federal agency (2) 0 0 0 Repurchase agreements (4) 28,250 - 3,750 - 500 Loans 89 - 30 + 33 Items in process of collection (1,058) 8,528 + 425 + 1,093 Bank premises 1,848 - 1 + 86 Other assets (5) 36,810 + 1,042 - 2,122 Total assets (1,058) 833,661 - 2,290 + 25,103 Liabilities Federal Reserve notes net of FR Bank holdings 746,571 + 3,075 + 29,060 Reverse repurchase agreements (6) 26,575 - 1,217 - 1,271 Deposits (0) 21,546 - 4,080 - 8,955 Depository institutions 16,228 - 3,960 - 8,876 U.S. Treasury, general account 4,990 - 86 - 29 Foreign official 84 + 3 - 31 Other (0) 244 - 37 - 18 Deferred availability cash items (1,058) 6,179 - 926 - 580 Other liabilities and accrued dividends (7) 4,381 + 46 + 1,272 Total liabilities (1,058) 805,252 - 3,100 + 19,526 Capital Accounts Capital paid in 13,530 + 7 + 1,890 Surplus 11,630 0 + 2,783 Other capital accounts 3,250 + 804 + 905 Total capital 28,409 + 810 + 5,577 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 14, 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 25 48,464 + 33 0 0 23,250 26,575 16 days to 90 days 64 164,480 + 138 0 0 5,000 0 91 days to 1 year 0 186,613 - 171 0 0 ------ ------ Over 1 to 5 years ------ 210,735 + 5 0 0 ------ ------ Over 5 to 10 years ------ 56,694 + 2 0 0 ------ ------ Over 10 years ------ 77,204 + 5 0 0 ------ ------ All 89 744,189 + 10 0 0 28,250 26,575 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 14, 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 711 31 47 40 59 66 96 77 36 22 64 70 103 Securities, repurchase agreements, and loans 772,528 38,075 323,354 26,401 31,438 56,797 57,585 67,046 23,101 15,555 21,068 36,652 75,456 Securities held outright 744,189 38,075 295,097 26,400 31,438 56,794 57,574 67,018 23,093 15,543 21,049 36,652 75,456 U.S. Treasury (1) 744,189 38,075 295,097 26,400 31,438 56,794 57,574 67,018 23,093 15,543 21,049 36,652 75,456 Bills (2) 271,270 13,879 107,568 9,623 11,460 20,702 20,987 24,429 8,418 5,666 7,673 13,360 27,505 Notes and bonds(3) 472,919 24,196 187,529 16,777 19,978 36,092 36,588 42,589 14,675 9,877 13,376 23,292 47,951 Federal agency (2) 0 0 0 0 0 0 0 0 0 0 0 0 0 Repurchase agreements(4) 28,250 0 28,250 0 0 0 0 0 0 0 0 0 0 Loans 89 0 7 1 0 3 10 28 8 13 19 0 0 Items in process of collection 9,586 438 669 446 760 584 1,533 646 231 393 956 1,318 1,612 Bank premises 1,848 109 204 53 158 144 272 209 69 119 86 261 165 Other assets(5) 36,810 3,181 13,933 1,110 2,405 4,753 2,076 2,550 884 733 665 959 3,559 Interdistrict settlement account 0 - 3,161 -28,486 + 6,122 + 287 + 5,407 + 6,016 + 402 + 1,177 - 253 + 1,173 - 4,376 +15,693 Total Assets 834,720 39,298 314,950 34,687 35,664 68,734 68,687 72,069 25,897 16,813 24,396 35,531 97,994 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 14, 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 905,201 39,191 328,439 37,540 36,539 69,743 82,647 76,577 27,392 17,912 27,498 50,551 111,170 Less: notes held by F.R. Banks 158,630 4,998 44,130 6,633 5,656 12,743 20,952 11,113 3,698 2,967 5,406 18,068 22,268 Federal Reserve notes, net 746,571 34,193 284,310 30,907 30,883 57,000 61,696 65,465 23,695 14,945 22,093 32,484 88,901 Reverse repurchase agreements (1) 26,575 1,360 10,538 943 1,123 2,028 2,056 2,393 825 555 752 1,309 2,695 Deposits 21,546 1,103 10,044 610 762 1,545 1,785 1,625 644 315 556 736 1,821 Depository institutions 16,228 1,096 4,824 609 757 1,478 1,783 1,622 640 314 554 736 1,817 U.S. Treasury, general account 4,990 0 4,990 0 0 0 0 0 0 0 0 0 0 Foreign official 84 5 56 1 4 7 2 3 1 1 1 0 4 Other 244 2 174 0 1 60 0 1 4 0 1 0 0 Deferred availability cash items 7,237 650 791 626 522 503 956 359 165 355 488 449 1,372 Other liabilities and accrued dividends (2) 4,381 221 1,493 179 222 507 346 391 155 121 135 212 398 Total liabilities 806,310 37,526 307,176 33,265 33,512 61,584 66,839 70,234 25,483 16,291 24,023 35,190 95,187 Capital Capital paid in 13,530 316 3,684 744 1,013 3,942 892 876 143 245 175 153 1,346 Surplus 11,630 1,353 3,430 294 1,065 2,148 516 763 236 254 153 135 1,283 Other capital 3,250 102 661 385 74 1,060 441 195 35 22 45 53 179 Total liabilities and capital 834,720 39,298 314,950 34,687 35,664 68,734 68,687 72,069 25,897 16,813 24,396 35,531 97,994 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 14, 2005 Federal Reserve notes outstanding 905,201 Less: Notes held by F.R. Banks not subject to collateralization 158,630 Federal Reserve Notes to be collateralized 746,571 Collateral held against Federal Reserve notes 746,571 Gold certificate account 11,037 Special drawing rights certificate account 2,200 U.S. Treasury and agency securities pledged (1) 733,334 Other assets pledged 0 Memo: Total U.S. Treasury and agency securities (1) 772,439 Less:face value of securities under reverse repurchase agreements 26,640 U.S. Treasury and agency securities eligible to be pledged 745,800 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.