FEDERAL RESERVE Statistical Release H.4.1 Factors Affecting Reserve Balances of Depository Institutions and Condition Statement of Federal Reserve Banks March 23, 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 Mar 22, 2006 Mar 15, 2006 Mar 23, 2005 Mar 22, 2006 Federal Reserve Banks Reserve Bank Credit 820,825 + 776 + 37,347 816,907 Securities held outright 757,241 + 624 + 39,719 757,257 U.S. Treasury (1) 757,241 + 624 + 39,719 757,257 Bills (2) 274,142 0 + 11,137 274,142 Notes and bonds, nominal (2) 457,177 + 157 + 24,081 457,177 Notes and bonds, inflation-indexed (2) 22,646 + 386 + 3,538 22,646 Inflation compensation (3) 3,275 + 81 + 963 3,292 Federal agency (2) 0 0 0 0 Repurchase agreements(4) 28,893 + 357 + 2,929 25,750 Loans to depository institutions 403 + 344 + 360 201 Primary credit 350 + 340 + 345 148 Secondary credit 0 0 0 0 Seasonal credit 52 + 3 + 14 53 Float -519 - 1,202 + 214 -1,189 Other Federal Reserve assets 34,808 + 653 - 5,873 34,888 Gold stock 11,044 0 + 2 11,044 Special drawing rights certificate account 2,200 0 0 2,200 Treasury currency outstanding (5) 36,637 + 14 + 92 36,637 Total factors supplying reserve funds 870,706 + 790 + 37,441 866,788 Currency in circulation(5) 787,714 - 819 + 35,717 788,548 Reverse repurchase agreements (6) 25,013 + 414 - 1,035 24,151 Foreign official and international accounts 25,013 + 414 - 1,035 24,151 Dealers 0 0 0 0 Treasury cash holdings 198 + 4 - 59 204 Deposits with F.R.Banks, other than reserve balances 13,525 + 558 - 515 12,689 U.S. Treasury, general account 5,142 + 663 + 174 4,414 Foreign official 172 + 73 + 84 71 Service-related 7,980 - 164 - 752 7,980 Required clearing balances 7,980 - 164 - 752 7,980 Adjustments to compensate for float 0 0 0 0 Other 231 - 14 - 21 223 Other liabilities and capital 33,070 + 473 + 5,095 32,537 Total factors, other than reserve balances, absorbing reserve funds 859,519 + 628 + 39,203 858,129 Reserve balances with Federal Reserve Banks 11,187 + 162 - 1,762 8,659 Memo (off-balance-sheet items): Marketable securities held in custody for foreign official and international accounts(2,7) 1,586,949 - 8,017 + 198,263 1,588,379 U.S. Treasury 1,123,105 - 10,468 + 37,633 1,123,855 Federal agency 463,844 + 2,451 + 160,631 464,524 Securities lent to dealers 1,627 - 2,396 - 1,063 942 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 22, 2006 Mar 15, 2006 Mar 23, 2005 Assets Gold certificate account 11,040 0 + 3 Special drawing rights certificate account 2,200 0 0 Coin 795 - 4 + 65 Securities, repurchase agreements, and loans 783,208 - 3,815 + 46,389 Securities held outright 757,257 + 44 + 39,731 U.S. Treasury (1) 757,257 + 44 + 39,731 Bills (2) 274,142 0 + 11,137 Notes and bonds, nominal (2) 457,177 0 + 24,081 Notes and bonds, inflation-indexed (2) 22,646 0 + 3,538 Inflation compensation (3) 3,292 + 45 + 976 Federal agency (2) 0 0 0 Repurchase agreements (4) 25,750 - 4,000 + 6,500 Loans 201 + 141 + 158 Items in process of collection (1,193) 4,898 - 1,627 - 2,823 Bank premises 1,825 + 3 + 24 Other assets (5) 37,200 + 449 - 1,382 Total assets (1,193) 841,165 - 4,995 + 42,276 Liabilities Federal Reserve notes net of FR Bank holdings 752,905 - 981 + 35,333 Reverse repurchase agreements (6) 24,151 - 142 - 340 Deposits (0) 25,480 - 3,821 + 2,789 Depository institutions 20,771 - 5,275 + 3,078 U.S. Treasury, general account 4,414 + 1,570 - 263 Foreign official 71 - 79 - 12 Other (0) 223 - 38 - 16 Deferred availability cash items (1,193) 6,092 - 146 - 563 Other liabilities and accrued dividends (7) 4,574 + 66 + 1,394 Total liabilities (1,193) 813,202 - 5,023 + 38,613 Capital Accounts Capital paid in 13,731 + 26 + 1,173 Surplus 12,901 0 + 1,701 Other capital accounts 1,331 + 3 + 789 Total capital 27,963 + 28 + 3,663 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 22, 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 201 54,496 + 7,582 0 0 25,750 24,151 16 days to 90 days 0 167,102 - 7,872 0 0 0 0 91 days to 1 year 0 184,863 + 293 0 0 ------ ------ Over 1 to 5 years ------ 215,466 + 14 0 0 ------ ------ Over 5 to 10 years ------ 55,368 + 6 0 0 ------ ------ Over 10 years ------ 79,962 + 20 0 0 ------ ------ All 201 757,257 + 44 0 0 25,750 24,151 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 22, 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 11,040 510 4,358 432 453 836 945 928 327 212 318 549 1,172 Special drawing rights certificate acct. 2,200 115 874 83 104 147 166 212 71 30 66 98 234 Coin 795 39 68 49 63 76 89 95 42 32 65 67 108 Securities, repurchase agreements, and loans 783,208 38,753 326,029 26,863 31,990 57,791 58,585 68,228 23,498 15,822 21,420 37,298 76,929 Securities held outright 757,257 38,744 300,279 26,863 31,990 57,791 58,585 68,195 23,498 15,816 21,418 37,296 76,781 U.S. Treasury (1) 757,257 38,744 300,279 26,863 31,990 57,791 58,585 68,195 23,498 15,816 21,418 37,296 76,781 Bills (2) 274,142 14,026 108,707 9,725 11,581 20,922 21,209 24,688 8,507 5,726 7,754 13,502 27,796 Notes and bonds(3) 483,115 24,718 191,572 17,138 20,409 36,870 37,376 43,507 14,991 10,090 13,665 23,794 48,985 Federal agency (2) 0 0 0 0 0 0 0 0 0 0 0 0 0 Repurchase agreements(4) 25,750 0 25,750 0 0 0 0 0 0 0 0 0 0 Loans 201 10 0 0 0 0 0 34 0 6 1 2 148 Items in process of collection 6,090 495 461 461 492 376 1,096 156 230 245 546 377 1,156 Bank premises 1,825 113 206 55 157 153 232 210 70 119 92 260 159 Other assets(5) 37,200 1,228 13,867 1,670 2,168 6,580 2,519 2,613 717 684 683 983 3,489 Interdistrict settlement account 0 - 4,089 -26,505 + 6,752 + 370 + 6,190 + 9,000 - 2,785 + 580 - 325 + 2,159 - 4,062 +12,714 Total Assets 842,357 37,165 319,358 36,364 35,798 72,149 72,632 69,657 25,536 16,818 25,348 35,569 95,961 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 22, 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 912,613 38,618 329,568 39,129 36,829 72,933 87,708 76,417 27,796 17,591 27,439 49,576 109,010 Less: notes held by F.R. Banks 159,708 4,872 45,251 6,837 5,559 12,808 22,061 12,739 4,147 2,549 4,399 16,975 21,511 Federal Reserve notes, net 752,905 33,745 284,316 32,292 31,270 60,125 65,648 63,679 23,649 15,042 23,040 32,601 87,499 Reverse repurchase agreements (1) 24,151 1,236 9,577 857 1,020 1,843 1,868 2,175 749 504 683 1,189 2,449 Deposits 25,480 757 15,292 642 685 1,433 1,649 1,228 492 314 557 732 1,699 Depository institutions 20,771 755 10,666 639 679 1,376 1,646 1,225 490 313 556 732 1,695 U.S. Treasury, general account 4,414 0 4,414 0 0 0 0 0 0 0 0 0 0 Foreign official 71 1 42 2 3 11 3 3 0 1 1 0 4 Other 223 1 169 0 3 46 0 1 1 0 1 0 0 Deferred availability cash items 7,285 501 913 861 555 595 966 346 171 332 549 383 1,111 Other liabilities and accrued dividends (2) 4,574 241 1,606 188 222 436 373 419 165 123 143 230 429 Total liabilities 814,394 36,481 311,704 34,839 33,751 64,432 70,504 67,846 25,226 16,316 24,972 35,135 93,187 Capital Capital paid in 13,731 324 3,669 750 1,000 3,946 1,035 877 144 244 178 212 1,352 Surplus 12,901 317 3,685 744 1,013 3,307 892 876 144 245 175 153 1,349 Other capital 1,331 43 300 32 34 464 201 58 22 14 23 69 73 Total liabilities and capital 842,357 37,165 319,358 36,364 35,798 72,149 72,632 69,657 25,536 16,818 25,348 35,569 95,961 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 22, 2006 Federal Reserve notes outstanding 912,613 Less: Notes held by F.R. Banks not subject to collateralization 159,708 Federal Reserve Notes to be collateralized 752,905 Collateral held against Federal Reserve notes 752,905 Gold certificate account 11,040 Special drawing rights certificate account 2,200 U.S. Treasury and agency securities pledged (1) 739,665 Other assets pledged 0 Memo: Total U.S. Treasury and agency securities (1) 783,007 Less:face value of securities under reverse repurchase agreements 24,183 U.S. Treasury and agency securities eligible to be pledged 758,824 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.