FEDERAL RESERVE Statistical Release H.4.1 Factors Affecting Reserve Balances of Depository Institutions and Condition Statement of Federal Reserve Banks July 27, 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 Jul 26, 2006 Jul 19, 2006 Jul 27, 2005 Jul 26, 2006 Federal Reserve Banks Reserve Bank Credit 825,902 - 4,807 + 32,620 826,238 Securities held outright 764,752 - 1,036 + 40,048 764,763 U.S. Treasury (1) 764,752 - 1,036 + 40,048 764,763 Bills (2) 277,019 + 1,178 + 12,004 277,019 Notes and bonds, nominal (2) 459,061 - 3,153 + 21,687 459,061 Notes and bonds, inflation-indexed (2) 24,783 + 907 + 5,250 24,783 Inflation compensation (3) 3,889 + 32 + 1,107 3,900 Federal agency (2) 0 0 0 0 Repurchase agreements(4) 20,536 - 3,750 - 8,107 21,000 Loans to depository institutions 350 + 22 + 6 371 Primary credit 15 - 1 + 4 25 Secondary credit 0 0 - 67 0 Seasonal credit 334 + 21 + 68 346 Float -807 - 181 + 5 -1,091 Other Federal Reserve assets 41,072 + 139 + 669 41,195 Gold stock 11,041 0 0 11,041 Special drawing rights certificate account 2,200 0 0 2,200 Treasury currency outstanding (5) 38,104 + 14 + 1,628 38,104 Total factors supplying reserve funds 877,247 - 4,793 + 34,249 877,583 Currency in circulation(5) 792,766 - 1,889 + 31,948 793,849 Reverse repurchase agreements (6) 29,161 - 278 + 1,166 28,468 Foreign official and international accounts 29,161 - 278 + 1,166 28,468 Dealers 0 0 0 0 Treasury cash holdings 158 - 4 - 86 148 Deposits with F.R.Banks, other than reserve balances 12,450 - 63 - 1,516 12,274 U.S. Treasury, general account 5,017 + 102 + 139 4,824 Foreign official 103 + 13 - 8 140 Service-related 7,027 - 189 - 1,649 7,027 Required clearing balances 7,027 - 189 - 1,649 7,027 Adjustments to compensate for float 0 0 0 0 Other 303 + 11 + 2 283 Other liabilities and capital 34,977 + 169 + 4,878 34,751 Total factors, other than reserve balances, absorbing reserve funds 869,513 - 2,064 + 36,392 869,490 Reserve balances with Federal Reserve Banks 7,735 - 2,727 - 2,142 8,093 Memo (off-balance-sheet items): Marketable securities held in custody for foreign official and international accounts(2,7) 1,644,798 + 11,264 + 190,759 1,651,103 U.S. Treasury 1,114,191 + 2,204 + 19,038 1,117,017 Federal agency 530,607 + 9,061 + 171,722 534,086 Securities lent to dealers 2,488 + 867 + 790 1,539 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 Jul 26, 2006 Jul 19, 2006 Jul 27, 2005 Assets Gold certificate account 11,037 0 0 Special drawing rights certificate account 2,200 0 0 Coin 750 + 14 + 125 Securities, repurchase agreements, and loans 786,134 - 7,941 + 29,684 Securities held outright 764,763 + 32 + 40,061 U.S. Treasury (1) 764,763 + 32 + 40,061 Bills (2) 277,019 0 + 12,004 Notes and bonds, nominal (2) 459,061 0 + 21,687 Notes and bonds, inflation-indexed (2) 24,783 0 + 5,250 Inflation compensation (3) 3,900 + 31 + 1,120 Federal agency (2) 0 0 0 Repurchase agreements (4) 21,000 - 8,000 - 10,000 Loans 371 + 28 - 377 Items in process of collection (960) 4,030 - 898 - 1,453 Bank premises 1,864 + 4 + 43 Other assets (5) 39,086 + 476 + 410 Total assets (960) 845,101 - 8,344 + 28,807 Liabilities Federal Reserve notes net of FR Bank holdings 756,639 - 802 + 29,381 Reverse repurchase agreements (6) 28,468 - 1,119 + 1,191 Deposits (0) 20,121 - 6,674 - 5,523 Depository institutions 14,874 - 6,267 - 5,980 U.S. Treasury, general account 4,824 - 448 + 407 Foreign official 140 + 52 + 59 Other (0) 283 - 11 - 8 Deferred availability cash items (960) 5,122 - 132 - 1,075 Other liabilities and accrued dividends (7) 4,866 + 50 + 1,550 Total liabilities (960) 815,217 - 8,676 + 25,526 Capital Accounts Capital paid in 14,993 + 7 + 1,604 Surplus 12,901 0 + 1,388 Other capital accounts 1,990 + 325 + 289 Total capital 29,884 + 332 + 3,281 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, July 26, 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 334 62,066 - 11 0 0 21,000 28,468 16 days to 90 days 37 169,303 - 718 0 0 0 0 91 days to 1 year 0 175,697 + 732 0 0 ------ ------ Over 1 to 5 years ------ 217,918 + 10 0 0 ------ ------ Over 5 to 10 years ------ 61,347 + 6 0 0 ------ ------ Over 10 years ------ 78,433 + 14 0 0 ------ ------ All 371 764,763 + 32 0 0 21,000 28,468 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 July 26, 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 750 28 36 32 72 68 102 90 39 30 56 78 118 Securities, repurchase agreements, and loans 786,134 36,498 304,060 33,203 33,022 63,529 64,050 70,322 24,358 15,664 22,430 34,327 84,671 Securities held outright 764,763 36,493 283,060 33,203 33,022 63,529 64,024 70,220 24,298 15,547 22,394 34,322 84,652 U.S. Treasury (1) 764,763 36,493 283,060 33,203 33,022 63,529 64,024 70,220 24,298 15,547 22,394 34,322 84,652 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) 487,745 23,274 180,528 21,176 21,061 40,517 40,832 44,785 15,496 9,916 14,282 21,889 53,989 Federal agency (2) 0 0 0 0 0 0 0 0 0 0 0 0 0 Repurchase agreements(4) 21,000 0 21,000 0 0 0 0 0 0 0 0 0 0 Loans 371 5 0 0 0 0 27 102 60 117 36 5 19 Items in process of collection 4,990 261 325 286 416 335 529 221 169 231 685 364 1,167 Bank premises 1,864 113 207 57 157 156 231 208 70 118 115 259 173 Other assets(5) 39,086 1,259 14,161 1,851 2,290 6,930 2,762 2,800 782 716 742 986 3,807 Interdistrict settlement account 0 - 66 + 1,596 + 1,067 - 746 + 1,547 + 3,972 - 8,424 - 534 - 314 + 1,574 - 1,631 + 1,959 Total Assets 846,061 38,693 325,399 37,042 35,762 73,564 72,834 66,377 25,283 16,686 25,993 35,057 93,370 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 July 26, 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 930,576 38,027 348,762 39,795 36,971 73,049 92,362 73,752 27,178 17,190 27,306 49,590 106,595 Less: notes held by F.R. Banks 173,937 3,681 50,632 7,832 6,365 13,729 27,164 13,900 3,979 2,314 3,831 17,731 22,779 Federal Reserve notes, net 756,639 34,346 298,130 31,963 30,605 59,320 65,197 59,853 23,199 14,875 23,475 31,859 83,816 Reverse repurchase agreements (1) 28,468 1,358 10,537 1,236 1,229 2,365 2,383 2,614 904 579 834 1,278 3,151 Deposits 20,121 1,524 6,936 516 952 2,854 1,928 1,408 539 267 501 643 2,053 Depository institutions 14,874 1,517 1,831 514 948 2,742 1,925 1,404 538 266 499 642 2,049 U.S. Treasury, general account 4,824 0 4,824 0 0 0 0 0 0 0 0 0 0 Foreign official 140 1 111 2 3 11 3 3 0 1 1 0 4 Other 283 7 169 0 1 102 0 1 1 0 1 0 0 Deferred availability cash items 6,082 425 522 400 561 482 703 254 138 332 653 596 1,016 Other liabilities and accrued dividends (2) 4,866 250 1,617 226 234 470 413 453 180 131 161 236 494 Total liabilities 816,177 37,903 317,742 34,342 33,582 65,491 70,625 64,581 24,961 16,184 25,624 34,611 90,531 Capital Capital paid in 14,993 382 3,675 1,744 1,122 4,014 1,073 822 153 243 174 212 1,379 Surplus 12,901 317 3,685 744 1,013 3,307 892 876 144 245 175 153 1,349 Other capital 1,990 91 297 212 45 752 244 97 26 13 20 81 112 Total liabilities and capital 846,061 38,693 325,399 37,042 35,762 73,564 72,834 66,377 25,283 16,686 25,993 35,057 93,370 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 Jul 26, 2006 Federal Reserve notes outstanding 930,576 Less: Notes held by F.R. Banks not subject to collateralization 173,937 Federal Reserve Notes to be collateralized 756,639 Collateral held against Federal Reserve notes 756,639 Gold certificate account 11,037 Special drawing rights certificate account 2,200 U.S. Treasury and agency securities pledged (1) 743,402 Other assets pledged 0 Memo: Total U.S. Treasury and agency securities (1) 785,763 Less:face value of securities under reverse repurchase agreements 28,509 U.S. Treasury and agency securities eligible to be pledged 757,254 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.