FEDERAL RESERVE Statistical Release H.4.1 Factors Affecting Reserve Balances of Depository Institutions and Condition Statement of Federal Reserve Banks December 21, 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 20, 2006 Dec 13, 2006 Dec 21, 2005 Dec 20, 2006 Federal Reserve Banks Reserve Bank Credit 845,210 + 7,603 + 28,034 850,162 Securities held outright 776,930 + 1,516 + 32,734 777,638 U.S. Treasury (1) 776,930 + 1,516 + 32,734 777,638 Bills (2) 277,019 0 + 5,749 277,019 Notes and bonds, nominal (2) 465,798 + 1,557 + 16,203 466,522 Notes and bonds, inflation-indexed (2) 30,105 0 + 10,122 30,105 Inflation compensation (3) 4,008 - 42 + 661 3,993 Federal agency (2) 0 0 0 0 Repurchase agreements(4) 28,929 + 6,465 - 3,035 33,500 Loans to depository institutions 192 - 36 - 245 90 Primary credit 107 - 40 - 258 5 Secondary credit 0 0 0 0 Seasonal credit 85 + 4 + 13 85 Float 896 - 631 - 913 347 Other Federal Reserve assets 38,263 + 290 - 507 38,587 Gold stock 11,041 0 0 11,041 Special drawing rights certificate account 2,200 0 0 2,200 Treasury currency outstanding (5) 38,231 + 14 + 1,691 38,231 Total factors supplying reserve funds 896,681 + 7,617 + 29,724 901,634 Currency in circulation(5) 808,690 + 2,433 + 24,877 813,096 Reverse repurchase agreements (6) 29,541 + 1,459 + 2,704 29,903 Foreign official and international accounts 29,541 + 1,459 + 2,704 29,903 Dealers 0 0 0 0 Treasury cash holdings 204 + 24 + 5 227 Deposits with F.R.Banks, other than reserve balances 13,428 + 1,319 - 1,281 12,806 U.S. Treasury, general account 6,066 + 1,326 + 664 5,436 Foreign official 95 + 4 - 44 89 Service-related 7,022 + 7 - 1,797 7,022 Required clearing balances 7,015 0 - 1,788 7,015 Adjustments to compensate for float 7 + 7 - 9 7 Other 245 - 19 - 104 258 Other liabilities and capital 36,426 - 13 + 3,421 36,394 Total factors, other than reserve balances, absorbing reserve funds 888,290 + 5,223 + 29,727 892,424 Reserve balances with Federal Reserve Banks 8,391 + 2,393 - 3 9,210 Memo (off-balance-sheet items): Marketable securities held in custody for foreign official and international accounts(2,7) 1,742,102 + 11,828 + 227,824 1,744,957 U.S. Treasury 1,156,599 - 4,599 + 54,894 1,155,171 Federal agency 585,502 + 16,426 + 172,929 589,787 Securities lent to dealers 963 - 2,183 - 4,292 684 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 20, 2006 Dec 13, 2006 Dec 21, 2005 Assets Gold certificate account 11,037 0 0 Special drawing rights certificate account 2,200 0 0 Coin 821 - 6 + 117 Securities, repurchase agreements, and loans 811,229 + 13,439 + 21,954 Securities held outright 777,638 + 2,035 + 33,438 U.S. Treasury (1) 777,638 + 2,035 + 33,438 Bills (2) 277,019 0 + 5,749 Notes and bonds, nominal (2) 466,522 + 2,077 + 16,927 Notes and bonds, inflation-indexed (2) 30,105 0 + 10,122 Inflation compensation (3) 3,993 - 42 + 642 Federal agency (2) 0 0 0 Repurchase agreements (4) 33,500 + 12,250 - 11,500 Loans 90 - 846 + 15 Items in process of collection (1,953) 4,814 - 2,771 - 4,303 Bank premises 1,931 + 10 + 75 Other assets (5) 36,913 + 469 + 71 Total assets (1,953) 868,944 + 11,140 + 17,914 Liabilities Federal Reserve notes net of FR Bank holdings 775,909 + 4,614 + 22,940 Reverse repurchase agreements (6) 29,903 + 1,601 + 3,141 Deposits (0) 22,272 + 5,063 - 9,789 Depository institutions 16,489 + 4,131 - 9,916 U.S. Treasury, general account 5,436 + 936 + 146 Foreign official 89 - 2 + 3 Other (0) 258 - 2 - 22 Deferred availability cash items (1,953) 4,467 - 412 - 2,636 Other liabilities and accrued dividends (7) 5,949 - 62 + 1,595 Total liabilities (1,953) 838,499 + 10,803 + 15,250 Capital Accounts Capital paid in 15,326 + 12 + 1,790 Surplus 10,554 0 - 1,075 Other capital accounts 4,565 + 325 + 1,948 Total capital 30,445 + 337 + 2,664 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 20, 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 90 58,550 + 7,066 0 0 33,500 29,903 16 days to 90 days 0 161,869 - 6,826 0 0 0 0 91 days to 1 year 0 186,198 - 243 0 0 ------ ------ Over 1 to 5 years ------ 222,856 + 1,315 0 0 ------ ------ Over 5 to 10 years ------ 67,659 - 9 0 0 ------ ------ Over 10 years ------ 80,505 + 732 0 0 ------ ------ All 90 777,638 + 2,035 0 0 33,500 29,903 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 20, 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 821 24 51 57 79 79 98 99 40 30 63 82 120 Securities, repurchase agreements, and loans 811,229 37,117 321,325 33,765 33,578 64,598 65,109 71,437 24,708 15,828 22,788 34,899 86,077 Securities held outright 777,638 37,108 287,825 33,762 33,578 64,598 65,101 71,403 24,707 15,809 22,771 34,899 86,077 U.S. Treasury (1) 777,638 37,108 287,825 33,762 33,578 64,598 65,101 71,403 24,707 15,809 22,771 34,899 86,077 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) 500,620 23,889 185,293 21,735 21,617 41,587 41,910 45,967 15,906 10,177 14,659 22,467 55,414 Federal agency (2) 0 0 0 0 0 0 0 0 0 0 0 0 0 Repurchase agreements(4) 33,500 0 33,500 0 0 0 0 0 0 0 0 0 0 Loans 90 9 0 3 0 0 8 34 1 19 17 0 0 Items in process of collection 6,767 316 120 763 707 564 796 265 145 163 652 530 1,745 Bank premises 1,931 117 212 58 157 167 231 208 79 116 147 259 180 Other assets(5) 36,913 1,238 12,021 1,874 2,296 7,040 2,728 2,772 752 710 731 961 3,790 Interdistrict settlement account 0 + 71 -22,433 + 634 - 2,699 + 3,609 +10,862 - 4,181 + 1,723 - 170 + 4,452 + 2,838 + 5,295 Total Assets 870,897 39,484 316,309 37,696 34,669 77,058 81,014 71,759 27,844 16,918 29,223 40,242 98,682 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 20, 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 959,582 39,164 342,773 38,792 36,522 75,335 97,952 80,031 29,145 17,499 30,648 56,826 114,894 Less: notes held by F.R. Banks 183,673 3,453 57,997 7,539 7,186 12,245 24,657 15,147 3,415 2,685 4,095 19,729 25,525 Federal Reserve notes, net 775,909 35,711 284,776 31,253 29,336 63,090 73,296 64,885 25,730 14,815 26,553 37,096 89,369 Reverse repurchase agreements (1) 29,903 1,427 11,068 1,298 1,291 2,484 2,503 2,746 950 608 876 1,342 3,310 Deposits 22,272 817 11,161 491 1,023 1,975 1,391 1,342 465 441 729 689 1,748 Depository institutions 16,489 815 5,489 488 1,018 1,893 1,388 1,337 458 440 728 688 1,746 U.S. Treasury, general account 5,436 0 5,436 0 0 0 0 0 0 0 0 0 0 Foreign official 89 1 60 2 3 11 3 3 0 1 1 0 4 Other 258 0 176 0 1 71 0 2 7 0 1 0 -2 Deferred availability cash items 6,420 437 153 1,065 531 668 728 464 131 337 509 377 1,019 Other liabilities and accrued dividends (2) 5,949 275 1,945 302 297 654 498 541 219 156 191 288 583 Total liabilities 840,452 38,667 309,104 34,410 32,477 68,871 78,416 69,977 27,496 16,356 28,858 39,792 96,029 Capital Capital paid in 15,326 396 3,727 1,810 1,087 4,095 1,276 858 166 276 176 211 1,246 Surplus 10,554 309 1,604 723 996 3,238 872 838 124 235 166 121 1,328 Other capital 4,565 112 1,873 752 110 854 449 87 58 51 24 118 78 Total liabilities and capital 870,897 39,484 316,309 37,696 34,669 77,058 81,014 71,759 27,844 16,918 29,223 40,242 98,682 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 20, 2006 Federal Reserve notes outstanding 959,582 Less: Notes held by F.R. Banks not subject to collateralization 183,673 Federal Reserve Notes to be collateralized 775,909 Collateral held against Federal Reserve notes 775,909 Gold certificate account 11,037 Special drawing rights certificate account 2,200 U.S. Treasury and agency securities pledged (1) 762,672 Other assets pledged 0 Memo: Total U.S. Treasury and agency securities (1) 811,138 Less:face value of securities under reverse repurchase agreements 29,975 U.S. Treasury and agency securities eligible to be pledged 781,163 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.