FEDERAL RESERVE Statistical Release H.4.1 Factors Affecting Reserve Balances of Depository Institutions and Condition Statement of Federal Reserve Banks September 28, 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 Sep 27, 2006 Sep 20, 2006 Sep 28, 2005 Sep 27, 2006 Federal Reserve Banks Reserve Bank Credit 825,247 - 3,693 + 24,667 835,347 Securities held outright 768,908 + 21 + 33,181 768,915 U.S. Treasury (1) 768,908 + 21 + 33,181 768,915 Bills (2) 277,019 0 + 7,720 277,019 Notes and bonds, nominal (2) 461,791 0 + 18,251 461,791 Notes and bonds, inflation-indexed (2) 26,019 0 + 6,036 26,019 Inflation compensation (3) 4,080 + 21 + 1,175 4,087 Federal agency (2) 0 0 0 0 Repurchase agreements(4) 16,643 - 2,786 - 8,214 27,500 Loans to depository institutions 384 + 29 + 34 366 Primary credit 31 + 20 + 19 11 Secondary credit 0 0 0 0 Seasonal credit 353 + 8 + 14 355 Float -661 - 1,502 - 1,012 -1,467 Other Federal Reserve assets 39,974 + 546 + 680 40,032 Gold stock 11,041 0 0 11,041 Special drawing rights certificate account 2,200 0 0 2,200 Treasury currency outstanding (5) 38,138 + 14 + 1,709 38,138 Total factors supplying reserve funds 876,625 - 3,679 + 26,376 886,726 Currency in circulation(5) 790,816 - 1,748 + 24,197 792,276 Reverse repurchase agreements (6) 28,391 + 894 + 3,623 31,466 Foreign official and international accounts 28,391 + 894 + 3,623 31,466 Dealers 0 0 0 0 Treasury cash holdings 158 - 7 - 94 150 Deposits with F.R.Banks, other than reserve balances 11,607 - 1,859 - 2,329 11,880 U.S. Treasury, general account 4,280 - 1,833 - 1,086 4,585 Foreign official 90 + 1 + 6 91 Service-related 6,968 - 2 - 1,268 6,968 Required clearing balances 6,968 - 2 - 1,268 6,968 Adjustments to compensate for float 0 0 0 0 Other 269 - 25 + 20 236 Other liabilities and capital 36,212 + 273 + 5,150 35,696 Total factors, other than reserve balances, absorbing reserve funds 867,185 - 2,446 + 30,549 871,469 Reserve balances with Federal Reserve Banks 9,441 - 1,232 - 4,172 15,257 Memo (off-balance-sheet items): Marketable securities held in custody for foreign official and international accounts(2,7) 1,661,409 - 12,030 + 197,444 1,666,925 U.S. Treasury 1,119,190 - 13,293 + 32,557 1,123,431 Federal agency 542,219 + 1,263 + 164,887 543,494 Securities lent to dealers 1,110 + 579 - 2,504 431 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 Sep 27, 2006 Sep 20, 2006 Sep 28, 2005 Assets Gold certificate account 11,037 0 0 Special drawing rights certificate account 2,200 0 0 Coin 858 + 21 + 150 Securities, repurchase agreements, and loans 796,782 + 12,524 + 30,097 Securities held outright 768,915 + 20 + 32,833 U.S. Treasury (1) 768,915 + 20 + 32,833 Bills (2) 277,019 0 + 7,532 Notes and bonds, nominal (2) 461,791 0 + 18,094 Notes and bonds, inflation-indexed (2) 26,019 0 + 6,036 Inflation compensation (3) 4,087 + 20 + 1,173 Federal agency (2) 0 0 0 Repurchase agreements (4) 27,500 + 12,500 - 2,750 Loans 366 + 3 + 13 Items in process of collection (1,061) 3,141 - 1,176 - 3,052 Bank premises 1,889 + 1 + 51 Other assets (5) 38,069 + 414 + 572 Total assets (1,061) 853,975 + 11,784 + 27,816 Liabilities Federal Reserve notes net of FR Bank holdings 755,142 - 528 + 22,572 Reverse repurchase agreements (6) 31,466 + 2,967 + 7,655 Deposits (0) 27,063 + 9,408 - 5,544 Depository institutions 22,151 + 10,074 - 5,651 U.S. Treasury, general account 4,585 - 631 + 106 Foreign official 91 + 6 + 8 Other (0) 236 - 40 - 7 Deferred availability cash items (1,061) 4,607 - 94 - 1,845 Other liabilities and accrued dividends (7) 5,514 + 69 + 1,685 Total liabilities (1,061) 823,792 + 11,822 + 24,523 Capital Accounts Capital paid in 15,067 + 10 + 1,761 Surplus 12,901 0 + 1,278 Other capital accounts 2,214 - 48 + 253 Total capital 30,182 - 38 + 3,292 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, September 27, 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 349 58,235 - 2,191 0 0 27,500 31,466 16 days to 90 days 17 166,986 + 1,517 0 0 0 0 91 days to 1 year 0 187,242 + 676 0 0 ------ ------ Over 1 to 5 years ------ 214,627 + 6 0 0 ------ ------ Over 5 to 10 years ------ 60,276 + 4 0 0 ------ ------ Over 10 years ------ 81,550 + 10 0 0 ------ ------ All 366 768,915 + 20 0 0 27,500 31,466 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 September 27, 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 858 24 49 55 78 79 112 103 46 31 63 87 130 Securities, repurchase agreements, and loans 796,782 36,702 312,098 33,383 33,202 63,874 64,385 70,719 24,479 15,742 22,570 34,515 85,114 Securities held outright 768,915 36,691 284,597 33,383 33,202 63,874 64,371 70,602 24,430 15,632 22,515 34,508 85,111 U.S. Treasury (1) 768,915 36,691 284,597 33,383 33,202 63,874 64,371 70,602 24,430 15,632 22,515 34,508 85,111 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) 491,897 23,473 182,064 21,356 21,240 40,862 41,180 45,166 15,628 10,000 14,404 22,076 54,448 Federal agency (2) 0 0 0 0 0 0 0 0 0 0 0 0 0 Repurchase agreements(4) 27,500 0 27,500 0 0 0 0 0 0 0 0 0 0 Loans 366 10 1 0 0 0 14 117 49 111 55 7 3 Items in process of collection 4,202 207 -28 666 286 303 521 204 138 89 426 235 1,155 Bank premises 1,889 114 208 57 158 159 230 208 73 117 129 260 176 Other assets(5) 38,069 1,210 13,767 1,830 2,243 6,851 2,672 2,716 738 695 714 938 3,695 Interdistrict settlement account 0 - 1,578 - 828 + 1,539 + 458 + 2,185 + 8,242 - 9,516 - 697 - 80 + 1,451 - 2,591 + 1,415 Total Assets 855,036 37,279 330,279 38,076 36,975 74,451 77,351 65,593 25,176 16,834 25,743 34,117 93,162 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 September 27, 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 933,436 37,835 347,395 38,981 36,947 73,895 95,216 73,736 27,029 17,141 27,380 50,045 107,837 Less: notes held by F.R. Banks 178,294 4,283 51,687 7,871 6,325 13,259 25,404 15,056 3,980 2,456 4,172 19,021 24,780 Federal Reserve notes, net 755,142 33,552 295,708 31,110 30,622 60,636 69,812 58,680 23,049 14,685 23,208 31,024 83,056 Reverse repurchase agreements (1) 31,466 1,502 11,647 1,366 1,359 2,614 2,634 2,889 1,000 640 921 1,412 3,483 Deposits 27,063 829 13,274 1,501 1,798 1,976 1,568 1,422 478 566 596 681 2,374 Depository institutions 22,151 827 8,456 1,498 1,793 1,905 1,565 1,419 477 565 594 680 2,370 U.S. Treasury, general account 4,585 0 4,585 0 0 0 0 0 0 0 0 0 0 Foreign official 91 1 62 2 3 11 3 3 0 1 1 0 4 Other 236 0 170 0 2 60 0 0 1 0 1 0 0 Deferred availability cash items 5,669 333 181 956 645 527 652 321 122 298 473 294 867 Other liabilities and accrued dividends (2) 5,514 270 1,846 267 266 558 464 503 198 142 177 261 560 Total liabilities 824,853 36,486 322,655 35,200 34,690 66,311 75,130 63,815 24,847 16,332 25,375 33,672 90,340 Capital Capital paid in 15,067 383 3,691 1,692 1,128 4,080 1,084 842 158 244 175 211 1,379 Surplus 12,901 317 3,685 744 1,013 3,307 892 876 144 245 175 153 1,349 Other capital 2,214 93 248 440 143 752 245 60 27 13 19 81 94 Total liabilities and capital 855,036 37,279 330,279 38,076 36,975 74,451 77,351 65,593 25,176 16,834 25,743 34,117 93,162 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 Sep 27, 2006 Federal Reserve notes outstanding 933,436 Less: Notes held by F.R. Banks not subject to collateralization 178,294 Federal Reserve Notes to be collateralized 755,142 Collateral held against Federal Reserve notes 755,142 Gold certificate account 11,037 Special drawing rights certificate account 2,200 U.S. Treasury and agency securities pledged (1) 741,905 Other assets pledged 0 Memo: Total U.S. Treasury and agency securities (1) 796,415 Less:face value of securities under reverse repurchase agreements 31,511 U.S. Treasury and agency securities eligible to be pledged 764,905 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.