FEDERAL RESERVE Statistical Release H.4.1 Factors Affecting Reserve Balances of Depository Institutions and Condition Statement of Federal Reserve Banks December 22, 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 21, 2005 Dec 14, 2005 Dec 22, 2004 Dec 21, 2005 Federal Reserve Banks Reserve Bank Credit 817,179 + 5,554 + 32,712 830,006 Securities held outright 744,196 + 11 + 26,522 744,200 U.S. Treasury (1) 744,196 + 11 + 26,522 744,200 Bills (2) 271,270 0 + 8,409 271,270 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) 3,347 + 10 + 1,071 3,351 Federal agency (2) 0 0 0 0 Repurchase agreements(4) 31,964 + 4,785 + 6,571 45,000 Loans to depository institutions 437 + 356 + 362 75 Primary credit 365 + 354 + 346 2 Secondary credit 0 0 0 0 Seasonal credit 72 + 2 + 16 72 Float 1,811 - 236 + 1,361 2,011 Other Federal Reserve assets 38,770 + 637 - 2,106 38,721 Gold stock 11,041 0 - 2 11,041 Special drawing rights certificate account 2,200 0 0 2,200 Treasury currency outstanding (5) 36,527 + 14 + 92 36,527 Total factors supplying reserve funds 866,946 + 5,568 + 32,801 879,774 Currency in circulation(5) 783,800 + 4,458 + 30,169 788,592 Reverse repurchase agreements (6) 26,837 + 1,665 - 1,237 26,762 Foreign official and international accounts 26,837 + 1,665 - 1,237 26,762 Dealers 0 0 0 0 Treasury cash holdings 199 0 - 65 203 Deposits with F.R.Banks, other than reserve balances 14,715 + 152 - 546 14,481 U.S. Treasury, general account 5,402 + 6 + 269 5,290 Foreign official 139 + 40 + 42 86 Service-related 8,825 + 21 - 936 8,825 Required clearing balances 8,809 + 5 - 952 8,809 Adjustments to compensate for float 16 + 16 + 16 16 Other 349 + 84 + 79 280 Other liabilities and capital 33,005 - 103 + 6,865 32,135 Total factors, other than reserve balances, absorbing reserve funds 858,556 + 6,172 + 35,185 862,174 Reserve balances with Federal Reserve Banks 8,390 - 605 - 2,385 17,600 Memo (off-balance-sheet items): Marketable securities held in custody for foreign official and international accounts(2,7) 1,514,278 + 3,794 + 184,181 1,516,044 U.S. Treasury 1,101,705 - 1,345 + 42,080 1,100,624 Federal agency 412,573 + 5,140 + 142,101 415,420 Securities lent to dealers 5,255 + 1,435 + 1,902 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 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 21, 2005 Dec 14, 2005 Dec 22, 2004 Assets Gold certificate account 11,037 0 - 2 Special drawing rights certificate account 2,200 0 0 Coin 704 - 7 - 18 Securities, repurchase agreements, and loans 789,275 + 16,747 + 39,514 Securities held outright 744,200 + 11 + 26,518 U.S. Treasury (1) 744,200 + 11 + 26,518 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) 3,351 + 10 + 1,067 Federal agency (2) 0 0 0 Repurchase agreements (4) 45,000 + 16,750 + 13,000 Loans 75 - 14 - 4 Items in process of collection (1,092) 9,117 + 589 + 1,019 Bank premises 1,856 + 8 + 83 Other assets (5) 36,842 + 32 - 2,422 Total assets (1,092) 851,030 + 17,369 + 38,171 Liabilities Federal Reserve notes net of FR Bank holdings 752,969 + 6,398 + 31,052 Reverse repurchase agreements (6) 26,762 + 187 - 1,294 Deposits (0) 32,061 + 10,515 + 2,255 Depository institutions 26,405 + 10,177 + 999 U.S. Treasury, general account 5,290 + 300 + 1,243 Foreign official 86 + 2 - 2 Other (0) 280 + 36 + 16 Deferred availability cash items (1,092) 7,103 + 924 + 130 Other liabilities and accrued dividends (7) 4,354 - 27 + 1,215 Total liabilities (1,092) 823,249 + 17,997 + 33,357 Capital Accounts Capital paid in 13,536 + 6 + 1,898 Surplus 11,629 - 1 + 2,782 Other capital accounts 2,617 - 633 + 135 Total capital 27,781 - 628 + 4,814 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 21, 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 72 56,415 + 7,951 0 0 45,000 26,762 16 days to 90 days 3 156,706 - 7,774 0 0 0 0 91 days to 1 year 0 186,436 - 177 0 0 ------ ------ Over 1 to 5 years ------ 210,739 + 4 0 0 ------ ------ Over 5 to 10 years ------ 56,696 + 2 0 0 ------ ------ Over 10 years ------ 77,208 + 4 0 0 ------ ------ All 75 744,200 + 11 0 0 45,000 26,762 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 21, 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 704 31 46 37 57 67 93 77 36 23 62 71 103 Securities, repurchase agreements, and loans 789,275 38,076 340,101 26,400 31,439 56,795 57,584 67,045 23,100 15,556 21,065 36,656 75,459 Securities held outright 744,200 38,076 295,101 26,400 31,439 56,795 57,575 67,019 23,093 15,543 21,049 36,653 75,457 U.S. Treasury (1) 744,200 38,076 295,101 26,400 31,439 56,795 57,575 67,019 23,093 15,543 21,049 36,653 75,457 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) 472,929 24,197 187,533 16,777 19,979 36,092 36,588 42,590 14,675 9,877 13,376 23,292 47,952 Federal agency (2) 0 0 0 0 0 0 0 0 0 0 0 0 0 Repurchase agreements(4) 45,000 0 45,000 0 0 0 0 0 0 0 0 0 0 Loans 75 0 0 0 0 0 9 26 7 13 16 3 2 Items in process of collection 10,209 570 804 609 945 446 1,556 590 273 403 1,083 1,190 1,741 Bank premises 1,856 110 204 53 158 152 272 210 69 120 81 262 164 Other assets(5) 36,842 3,174 14,031 1,086 2,401 4,704 2,045 2,558 886 734 674 974 3,575 Interdistrict settlement account 0 - 3,434 -40,523 + 6,257 + 1,803 + 7,950 +10,194 + 1,341 + 1,902 - 118 + 1,795 - 3,966 +16,799 Total Assets 852,122 39,151 319,891 34,958 37,360 71,097 72,856 72,960 26,665 16,960 25,143 35,834 99,248 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 21, 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 908,267 39,206 328,159 37,439 36,635 69,911 84,379 77,108 28,162 17,932 27,888 50,436 111,011 Less: notes held by F.R. Banks 155,298 4,855 44,753 6,385 5,363 12,563 19,614 10,927 3,688 2,921 5,275 17,690 21,264 Federal Reserve notes, net 752,969 34,351 283,406 31,054 31,273 57,348 64,765 66,181 24,474 15,011 22,613 32,746 89,746 Reverse repurchase agreements (1) 26,762 1,369 10,612 949 1,131 2,042 2,070 2,410 830 559 757 1,318 2,714 Deposits 32,061 825 15,853 674 2,065 3,309 2,744 1,857 637 344 731 766 2,256 Depository institutions 26,405 820 10,336 673 2,059 3,199 2,742 1,853 635 343 729 766 2,252 U.S. Treasury, general account 5,290 0 5,290 0 0 0 0 0 0 0 0 0 0 Foreign official 86 5 58 1 4 7 2 3 1 1 1 0 4 Other 280 0 169 0 2 102 0 1 2 0 2 0 0 Deferred availability cash items 8,195 716 967 669 589 776 1,113 340 179 423 552 463 1,408 Other liabilities and accrued dividends (2) 4,354 221 1,500 173 222 484 344 385 155 120 136 212 402 Total liabilities 824,341 37,482 312,339 33,519 35,279 63,959 71,036 71,173 26,276 16,456 24,789 35,505 96,526 Capital Capital paid in 13,536 317 3,685 744 1,013 3,942 892 876 144 245 175 153 1,349 Surplus 11,629 1,352 3,430 294 1,065 2,148 516 763 236 254 153 135 1,283 Other capital 2,617 0 438 401 2 1,047 412 147 9 5 26 41 90 Total liabilities and capital 852,122 39,151 319,891 34,958 37,360 71,097 72,856 72,960 26,665 16,960 25,143 35,834 99,248 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 21, 2005 Federal Reserve notes outstanding 908,267 Less: Notes held by F.R. Banks not subject to collateralization 155,298 Federal Reserve Notes to be collateralized 752,969 Collateral held against Federal Reserve notes 752,969 Gold certificate account 11,037 Special drawing rights certificate account 2,200 U.S. Treasury and agency securities pledged (1) 739,732 Other assets pledged 0 Memo: Total U.S. Treasury and agency securities (1) 789,200 Less:face value of securities under reverse repurchase agreements 26,791 U.S. Treasury and agency securities eligible to be pledged 762,409 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.