FEDERAL RESERVE Statistical Release H.4.1 Factors Affecting Reserve Balances of Depository Institutions and Condition Statement of Federal Reserve Banks May 18, 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 May 17, 2006 May 10, 2006 May 18, 2005 May 17, 2006 Federal Reserve Banks Reserve Bank Credit 824,687 + 1 + 37,129 821,463 Securities held outright 760,177 + 452 + 38,566 759,651 U.S. Treasury (1) 760,177 + 452 + 38,566 759,651 Bills (2) 275,370 0 + 11,086 275,370 Notes and bonds, nominal (2) 458,693 + 420 + 23,010 458,155 Notes and bonds, inflation-indexed (2) 22,646 0 + 3,538 22,646 Inflation compensation (3) 3,468 + 32 + 933 3,480 Federal agency (2) 0 0 0 0 Repurchase agreements(4) 23,750 + 250 - 2,821 21,500 Loans to depository institutions 168 - 6 + 26 178 Primary credit 20 - 20 + 18 21 Secondary credit 0 0 0 0 Seasonal credit 149 + 15 + 10 157 Float -237 + 68 + 1,023 1,250 Other Federal Reserve assets 40,828 - 764 + 335 38,884 Gold stock 11,041 0 0 11,041 Special drawing rights certificate account 2,200 0 0 2,200 Treasury currency outstanding (5) 37,963 + 14 + 1,418 37,963 Total factors supplying reserve funds 875,891 + 15 + 38,547 872,667 Currency in circulation(5) 793,980 + 247 + 39,693 794,985 Reverse repurchase agreements (6) 23,657 - 2,319 - 4,397 22,569 Foreign official and international accounts 23,657 - 2,319 - 4,397 22,569 Dealers 0 0 0 0 Treasury cash holdings 181 + 3 - 74 185 Deposits with F.R.Banks, other than reserve balances 12,970 + 727 - 990 12,810 U.S. Treasury, general account 5,192 + 41 - 17 5,055 Foreign official 105 + 8 + 21 85 Service-related 7,366 + 670 - 974 7,366 Required clearing balances 7,366 + 670 - 974 7,366 Adjustments to compensate for float 0 0 0 0 Other 308 + 9 - 19 304 Other liabilities and capital 33,897 + 118 + 5,077 33,049 Total factors, other than reserve balances, absorbing reserve funds 864,686 - 1,222 + 39,310 863,597 Reserve balances with Federal Reserve Banks 11,205 + 1,237 - 763 9,070 Memo (off-balance-sheet items): Marketable securities held in custody for foreign official and international accounts(2,7) 1,624,415 + 3,409 + 220,331 1,619,910 U.S. Treasury 1,125,054 + 301 + 50,847 1,120,764 Federal agency 499,361 + 3,108 + 169,484 499,146 Securities lent to dealers 1,600 + 592 - 1,703 1,792 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 May 17, 2006 May 10, 2006 May 18, 2005 Assets Gold certificate account 11,037 0 0 Special drawing rights certificate account 2,200 0 0 Coin 767 - 14 + 111 Securities, repurchase agreements, and loans 781,329 + 707 + 35,809 Securities held outright 759,651 - 86 + 38,022 U.S. Treasury (1) 759,651 - 86 + 38,022 Bills (2) 275,370 0 + 11,082 Notes and bonds, nominal (2) 458,155 - 118 + 22,472 Notes and bonds, inflation-indexed (2) 22,646 0 + 3,538 Inflation compensation (3) 3,480 + 32 + 931 Federal agency (2) 0 0 0 Repurchase agreements (4) 21,500 + 1,000 - 2,250 Loans 178 - 207 + 37 Items in process of collection (1,496) 7,274 + 2,222 + 1,780 Bank premises 1,836 0 + 21 Other assets (5) 36,925 - 3,093 + 219 Total assets (1,496) 841,368 - 178 + 37,940 Liabilities Federal Reserve notes net of FR Bank holdings 757,969 - 497 + 38,695 Reverse repurchase agreements (6) 22,569 - 1,966 - 3,610 Deposits (0) 21,758 + 2,461 - 1,099 Depository institutions 16,313 + 2,329 - 1,078 U.S. Treasury, general account 5,055 + 124 - 25 Foreign official 85 0 - 27 Other (0) 304 + 8 + 31 Deferred availability cash items (1,496) 6,024 + 204 - 313 Other liabilities and accrued dividends (7) 4,740 + 54 + 1,390 Total liabilities (1,496) 813,059 + 255 + 35,062 Capital Accounts Capital paid in 13,859 + 11 + 950 Surplus 12,901 0 + 1,508 Other capital accounts 1,549 - 443 + 421 Total capital 28,309 - 433 + 2,878 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, May 17, 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 164 64,454 - 2,320 0 0 21,500 22,569 16 days to 90 days 14 164,067 - 860 0 0 0 0 91 days to 1 year 0 180,967 + 4,582 0 0 ------ ------ Over 1 to 5 years ------ 212,424 - 3,802 0 0 ------ ------ Over 5 to 10 years ------ 55,397 + 5 0 0 ------ ------ Over 10 years ------ 82,342 + 2,309 0 0 ------ ------ All 178 759,651 - 86 0 0 21,500 22,569 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 May 17, 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 767 37 53 39 76 65 84 85 40 37 62 68 121 Securities, repurchase agreements, and loans 781,329 36,259 302,669 32,981 32,801 63,104 63,603 69,818 24,155 15,474 22,263 34,093 84,109 Securities held outright 759,651 36,249 281,167 32,981 32,801 63,104 63,596 69,751 24,135 15,443 22,244 34,092 84,086 U.S. Treasury (1) 759,651 36,249 281,167 32,981 32,801 63,104 63,596 69,751 24,135 15,443 22,244 34,092 84,086 Bills (2) 275,370 13,140 101,922 11,955 11,890 22,875 23,053 25,284 8,749 5,598 8,063 12,358 30,481 Notes and bonds(3) 484,281 23,109 179,246 21,025 20,911 40,229 40,542 44,467 15,386 9,845 14,181 21,734 53,605 Federal agency (2) 0 0 0 0 0 0 0 0 0 0 0 0 0 Repurchase agreements(4) 21,500 0 21,500 0 0 0 0 0 0 0 0 0 0 Loans 178 9 1 0 0 0 7 67 20 31 19 1 23 Items in process of collection 8,770 442 560 487 688 674 1,875 1,066 261 286 578 424 1,428 Bank premises 1,836 113 206 56 156 153 231 209 70 118 100 258 166 Other assets(5) 36,925 1,145 13,298 1,765 2,213 6,859 2,561 2,580 714 674 672 875 3,570 Interdistrict settlement account 0 - 1,379 + 330 + 1,086 - 577 + 3,227 + 1,284 - 6,967 - 368 + 227 + 1,758 - 2,326 + 3,705 Total Assets 842,863 37,216 322,128 36,959 35,908 75,083 70,827 67,949 25,271 17,058 25,823 34,066 94,575 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 May 17, 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 920,561 38,436 340,604 39,589 36,836 73,926 86,632 75,253 27,541 17,472 27,457 49,063 107,753 Less: notes held by F.R. Banks 162,593 4,443 44,922 7,002 5,748 12,668 23,087 13,667 4,187 2,451 3,982 18,109 22,327 Federal Reserve notes, net 757,969 33,994 295,682 32,587 31,088 61,258 63,546 61,585 23,354 15,021 23,475 30,953 85,426 Reverse repurchase agreements (1) 22,569 1,077 8,353 980 975 1,875 1,889 2,072 717 459 661 1,013 2,498 Deposits 21,758 800 8,112 913 914 2,839 1,944 1,636 516 558 557 739 2,230 Depository institutions 16,313 794 2,829 910 910 2,705 1,941 1,633 513 557 556 739 2,226 U.S. Treasury, general account 5,055 0 5,055 0 0 0 0 0 0 0 0 0 0 Foreign official 85 1 56 2 3 11 3 3 0 1 1 0 4 Other 304 5 171 0 1 123 0 0 2 0 1 0 0 Deferred availability cash items 7,520 438 816 761 646 567 874 372 195 399 613 698 1,140 Other liabilities and accrued dividends (2) 4,740 232 1,571 224 236 499 402 431 173 124 153 220 475 Total liabilities 814,555 36,541 314,534 35,464 33,858 67,037 68,655 66,097 24,956 16,561 25,459 33,624 91,770 Capital Capital paid in 13,859 324 3,671 729 1,015 4,011 1,061 901 149 242 174 209 1,373 Surplus 12,901 317 3,685 744 1,013 3,307 892 876 144 245 175 153 1,349 Other capital 1,549 34 239 22 22 727 219 75 22 10 15 81 83 Total liabilities and capital 842,863 37,216 322,128 36,959 35,908 75,083 70,827 67,949 25,271 17,058 25,823 34,066 94,575 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 May 17, 2006 Federal Reserve notes outstanding 920,561 Less: Notes held by F.R. Banks not subject to collateralization 162,593 Federal Reserve Notes to be collateralized 757,969 Collateral held against Federal Reserve notes 757,969 Gold certificate account 11,037 Special drawing rights certificate account 2,200 U.S. Treasury and agency securities pledged (1) 744,732 Other assets pledged 0 Memo: Total U.S. Treasury and agency securities (1) 781,151 Less:face value of securities under reverse repurchase agreements 22,594 U.S. Treasury and agency securities eligible to be pledged 758,557 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.