FEDERAL RESERVE Statistical Release H.4.1 Factors Affecting Reserve Balances of Depository Institutions and Condition Statement of Federal Reserve Banks November 24, 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 Nov 22, 2006 Nov 15, 2006 Nov 23, 2005 Nov 22, 2006 Federal Reserve Banks Reserve Bank Credit 838,938 + 4,106 + 32,430 850,597 Securities held outright 770,558 + 206 + 27,058 771,873 U.S. Treasury (1) 770,558 + 206 + 27,058 771,873 Bills (2) 277,019 0 + 5,891 277,019 Notes and bonds, nominal (2) 459,264 + 247 + 10,106 460,598 Notes and bonds, inflation-indexed (2) 30,105 0 + 10,122 30,105 Inflation compensation (3) 4,171 - 40 + 940 4,152 Federal agency (2) 0 0 0 0 Repurchase agreements(4) 31,964 + 6,178 + 7,393 43,000 Loans to depository institutions 199 + 77 + 81 139 Primary credit 100 + 97 + 77 43 Secondary credit 0 0 0 0 Seasonal credit 99 - 19 + 5 96 Float -382 + 84 - 1,478 -1,425 Other Federal Reserve assets 36,598 - 2,441 - 625 37,009 Gold stock 11,041 0 0 11,041 Special drawing rights certificate account 2,200 0 0 2,200 Treasury currency outstanding (5) 38,182 + 14 + 1,670 38,182 Total factors supplying reserve funds 890,361 + 4,120 + 34,100 902,020 Currency in circulation(5) 803,033 + 3,097 + 26,070 807,852 Reverse repurchase agreements (6) 31,193 - 1,282 + 6,265 29,335 Foreign official and international accounts 31,193 - 1,282 + 6,265 29,335 Dealers 0 0 0 0 Treasury cash holdings 175 - 7 - 35 163 Deposits with F.R.Banks, other than reserve balances 11,846 - 340 - 2,488 11,305 U.S. Treasury, general account 4,663 - 297 - 444 4,128 Foreign official 91 0 + 10 92 Service-related 6,805 - 22 - 2,018 6,805 Required clearing balances 6,805 - 2 - 2,018 6,805 Adjustments to compensate for float 0 - 20 0 0 Other 288 - 20 - 35 280 Other liabilities and capital 35,165 + 428 + 3,054 35,396 Total factors, other than reserve balances, absorbing reserve funds 881,412 + 1,896 + 32,866 884,051 Reserve balances with Federal Reserve Banks 8,949 + 2,224 + 1,234 17,969 Memo (off-balance-sheet items): Marketable securities held in custody for foreign official and international accounts(2,7) 1,709,606 + 5,882 + 209,957 1,713,472 U.S. Treasury 1,151,353 + 1,769 + 52,922 1,150,626 Federal agency 558,252 + 4,112 + 157,034 562,845 Securities lent to dealers 688 + 74 - 3,013 1,557 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 Nov 22, 2006 Nov 15, 2006 Nov 23, 2005 Assets Gold certificate account 11,037 0 + 1 Special drawing rights certificate account 2,200 0 0 Coin 805 - 28 + 99 Securities, repurchase agreements, and loans 815,012 + 9,594 + 38,104 Securities held outright 771,873 + 1,823 + 27,572 U.S. Treasury (1) 771,873 + 1,823 + 27,572 Bills (2) 277,019 0 + 5,749 Notes and bonds, nominal (2) 460,598 + 1,868 + 10,814 Notes and bonds, inflation-indexed (2) 30,105 0 + 10,122 Inflation compensation (3) 4,152 - 45 + 889 Federal agency (2) 0 0 0 Repurchase agreements (4) 43,000 + 7,750 + 10,500 Loans 139 + 21 + 31 Items in process of collection (1,194) 3,076 - 800 - 4,391 Bank premises 1,910 + 1 + 67 Other assets (5) 35,053 + 764 - 548 Total assets (1,194) 869,093 + 9,531 + 33,332 Liabilities Federal Reserve notes net of FR Bank holdings 770,633 + 5,678 + 25,051 Reverse repurchase agreements (6) 29,335 - 3,429 + 4,848 Deposits (0) 29,228 + 6,359 + 2,332 Depository institutions 24,727 + 7,063 + 2,343 U.S. Treasury, general account 4,128 - 692 - 34 Foreign official 92 0 + 12 Other (0) 280 - 14 + 10 Deferred availability cash items (1,194) 4,501 + 143 - 2,198 Other liabilities and accrued dividends (7) 5,932 - 5 + 1,738 Total liabilities (1,194) 839,628 + 8,744 + 31,769 Capital Accounts Capital paid in 15,295 + 6 + 1,797 Surplus 10,554 0 - 1,076 Other capital accounts 3,616 + 781 + 841 Total capital 29,465 + 787 + 1,562 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, November 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 136 58,834 + 849 0 0 43,000 29,335 16 days to 90 days 3 158,397 + 3,178 0 0 0 0 91 days to 1 year 0 189,455 - 3,810 0 0 ------ ------ Over 1 to 5 years ------ 219,213 + 1,534 0 0 ------ ------ Over 5 to 10 years ------ 67,249 + 5,201 0 0 ------ ------ Over 10 years ------ 78,726 - 5,127 0 0 ------ ------ All 139 771,873 + 1,823 0 0 43,000 29,335 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 November 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 11,037 486 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 805 22 42 58 75 78 94 95 41 31 64 77 129 Securities, repurchase agreements, and loans 815,012 36,834 328,691 33,511 33,329 64,120 64,624 70,916 24,567 15,717 22,621 34,643 85,439 Securities held outright 771,873 36,833 285,691 33,511 33,329 64,120 64,619 70,873 24,524 15,692 22,602 34,641 85,439 U.S. Treasury (1) 771,873 36,833 285,691 33,511 33,329 64,120 64,619 70,873 24,524 15,692 22,602 34,641 85,439 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) 494,855 23,614 183,159 21,484 21,368 41,108 41,428 45,437 15,722 10,060 14,490 22,208 54,776 Federal agency (2) 0 0 0 0 0 0 0 0 0 0 0 0 0 Repurchase agreements(4) 43,000 0 43,000 0 0 0 0 0 0 0 0 0 0 Loans 139 2 0 0 0 0 5 43 44 25 19 2 0 Items in process of collection 4,270 256 154 -579 585 359 630 200 136 453 699 407 970 Bank premises 1,910 115 207 58 157 164 231 209 75 116 137 260 179 Other assets(5) 35,053 1,149 11,332 1,867 2,208 6,840 2,571 2,598 685 669 677 879 3,579 Interdistrict settlement account 0 - 277 -18,721 + 2,174 - 1,678 + 5,992 + 9,156 - 4,793 - 66 + 22 + 2,383 + 776 + 5,031 Total Assets 870,287 38,701 326,719 37,635 35,227 78,553 78,495 70,383 25,837 17,250 26,970 37,714 96,802 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 November 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 946,742 38,514 344,231 39,029 36,704 75,101 96,159 78,432 27,245 17,571 28,619 53,558 111,579 Less: notes held by F.R. Banks 176,108 3,539 53,424 7,452 6,993 11,826 25,149 14,882 3,472 2,375 4,114 18,930 23,952 Federal Reserve notes, net 770,633 34,975 290,808 31,577 29,710 63,276 71,009 63,550 23,774 15,195 24,505 34,628 87,626 Reverse repurchase agreements (1) 29,335 1,400 10,858 1,274 1,267 2,437 2,456 2,694 932 596 859 1,317 3,247 Deposits 29,228 831 16,775 532 1,261 3,408 1,376 1,437 425 281 435 705 1,762 Depository institutions 24,727 826 12,407 530 1,257 3,303 1,373 1,434 421 281 433 705 1,758 U.S. Treasury, general account 4,128 0 4,128 0 0 0 0 0 0 0 0 0 0 Foreign official 92 1 63 2 3 11 3 3 0 1 1 0 4 Other 280 4 176 0 1 93 0 0 4 0 1 0 0 Deferred availability cash items 5,694 397 133 764 476 516 645 353 129 452 605 316 910 Other liabilities and accrued dividends (2) 5,932 278 1,937 299 294 639 496 543 218 156 192 291 589 Total liabilities 840,822 37,881 320,509 34,445 33,008 70,275 75,981 68,576 25,478 16,681 26,596 37,257 94,134 Capital Capital paid in 15,295 390 3,726 1,812 1,086 4,087 1,276 846 166 276 176 210 1,244 Surplus 10,554 309 1,604 723 996 3,238 872 838 124 235 166 121 1,328 Other capital 3,616 121 879 655 137 954 365 123 68 57 33 126 97 Total liabilities and capital 870,287 38,701 326,719 37,635 35,227 78,553 78,495 70,383 25,837 17,250 26,970 37,714 96,802 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 Nov 22, 2006 Federal Reserve notes outstanding 946,742 Less: Notes held by F.R. Banks not subject to collateralization 176,108 Federal Reserve Notes to be collateralized 770,633 Collateral held against Federal Reserve notes 770,633 Gold certificate account 11,037 Special drawing rights certificate account 2,200 U.S. Treasury and agency securities pledged (1) 757,397 Other assets pledged 0 Memo: Total U.S. Treasury and agency securities (1) 814,873 Less:face value of securities under reverse repurchase agreements 29,528 U.S. Treasury and agency securities eligible to be pledged 785,346 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.