H.4.1 Factors Affecting Reserve Balances of Depository Institutions

FEDERAL RESERVE statistical release H.4.1 Factors Affecting Reserve Balances of Depository Institutions and Condition Statement of Federal Reserve Banks December 15, 2005 1. Factors Affecting Reserve Balances of Depository Institutions Millions of dollars Reserve Bank credit, related items, and Averages of daily figures reserve balances of depository institutions Week ended Change from week ended Wednesday at Federal Reserve Banks Dec 14, 2005 Dec 7, 2005 Dec 15, 2004 Dec 14, 2005 Reserve Bank credit 811,624 - 2,020 + 28,964 813,567 Securities held outright 744,185 + 10 + 26,596 744,189 U.S. Treasury1 744,185 + 10 + 26,596 744,189 Bills2 271,270 0 + 8,472 271,270 Notes and bonds, nominal2 449,595 0 + 13,166 449,595 Notes and bonds, inflation-indexed2 19,983 0 + 3,875 19,983 Inflation compensation3 3,337 + 11 + 1,083 3,341 Federal agency2 0 0 0 0 Repurchase agreements4 27,179 - 3,714 + 2,358 28,250 Loans to depository institutions 81 - 5 + 20 89 Primary credit 11 - 6 + 6 12 Secondary credit 0 0 0 0 Seasonal credit 70 + 1 + 14 77 Float 2,046 + 1,080 + 2,292 2,361 Other Federal Reserve assets 38,133 + 609 - 2,302 38,678 Gold stock 11,041 0 - 2 11,041 Special drawing rights certificate account 2,200 0 0 2,200 Treasury currency outstanding5 36,513 + 14 + 78 36,513 Total factors supplying reserve funds 861,378 - 2,006 + 29,040 863,321 Currency in circulation5 779,342 + 1,276 + 28,194 782,179 Reverse repurchase agreements6 25,172 - 3,628 - 2,290 26,575 Foreign official and international accounts 25,172 - 3,628 - 2,290 26,575 Dealers 0 0 0 0 Treasury cash holdings 199 - 5 - 78 198 Deposits with F.R. Banks, other than reserve balances 14,563 + 523 - 603 14,122 U.S. Treasury, general account 5,396 + 464 + 349 4,990 Foreign official 99 + 17 + 12 84 Service-related 8,804 + 70 - 968 8,804 Required clearing balances 8,804 + 70 - 958 8,804 Adjustments to compensate for float 0 0 - 11 0 Other 265 - 28 + 6 244 Other liabilities and capital 33,108 + 983 + 7,425 32,791 Total factors, other than reserve balances, absorbing reserve funds 852,384 - 851 + 32,648 855,865 Reserve balances with Federal Reserve Banks 8,994 - 1,155 - 3,608 7,456 Memo (off-balance-sheet items): Marketable securities held in custody for foreign official and international accounts2,7 1,510,484 - 890 + 184,395 1,510,793 U.S. Treasury 1,103,050 - 2,318 + 45,913 1,102,760 Federal agency 407,433 + 1,427 + 138,481 408,033 Securities lent to dealers 3,820 + 484 + 848 2,115 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.

H.4.1 2. Consolidated Statement of Condition of All Federal Reserve Banks Millions of dollars Change since Eliminations from Assets, liabilities, and capital consolidation Wednesday Wednesday Wednesday Dec 14, 2005 Dec 7, 2005 Dec 15, 2004 Assets Gold certificate account 11,037 0 - 2 Special drawing rights certificate account 2,200 0 0 Coin 711 + 16 - 12 Securities, repurchase agreements, and loans 772,528 - 3,770 + 26,061 Securities held outright 744,189 + 10 + 26,528 U.S. Treasury1 744,189 + 10 + 26,528 Bills2 271,270 0 + 8,409 Notes and bonds, nominal2 449,595 0 + 13,166 Notes and bonds, inflation-indexed2 19,983 0 + 3,875 Inflation compensation3 3,341 + 11 + 1,079 Federal agency2 0 0 0 Repurchase agreements4 28,250 - 3,750 - 500 Loans 89 - 30 + 33 Items in process of collection (1,058) 8,528 + 425 + 1,093 Bank premises 1,848 - 1 + 86 Other assets5 36,810 + 1,042 - 2,122 Total assets (1,058) 833,661 - 2,290 + 25,103 Liabilities Federal Reserve notes, net of F.R. Bank holdings 746,571 + 3,075 + 29,060 Reverse repurchase agreements6 26,575 - 1,217 - 1,271 Deposits (0) 21,546 - 4,080 - 8,955 Depository institutions 16,228 - 3,960 - 8,876 U.S. Treasury, general account 4,990 - 86 - 29 Foreign official 84 + 3 - 31 Other (0) 244 - 37 - 18 Deferred availability cash items (1,058) 6,179 - 926 - 580 Other liabilities and accrued dividends7 4,381 + 46 + 1,272 Total liabilities (1,058) 805,252 - 3,100 + 19,526 Capital accounts Capital paid in 13,530 + 7 + 1,890 Surplus 11,630 0 + 2,783 Other capital accounts 3,250 + 804 + 905 Total capital 28,409 + 810 + 5,577 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. 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 14, 2005 Millions of dollars U.S. Treasury Federal agency Reverse securities1 securities Repurchase Maturity Loans repurchase Weekly Weekly agreements2 Holdings Holdings agreements2 changes changes Within 15 days 25 48,464 + 33 0 0 23,250 26,575 16 days to 90 days 64 164,480 + 138 0 0 5,000 0 91 days to 1 year 0 186,613 - 171 0 0 . . . . . . Over 1 year to 5 years . . . 210,735 + 5 0 0 . . . . . . Over 5 years to 10 years . . . 56,694 + 2 0 0 . . . . . . Over 10 years . . . 77,204 + 5 0 0 . . . . . . All 89 744,189 + 10 0 0 28,250 26,575 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.

H.4.1 4. Statement of Condition of Each Federal Reserve Bank on December 14, 2005 Millions of dollars Kansas San Assets, liabilities, and capital Total Boston New York Philadelphia Cleveland Richmond Atlanta Chicago St. Louis Minneapolis Dallas City Francisco Assets Gold certificate account 11,0 3 7 5 1 0 4,3 5 5 4 3 2 4 5 3 8 3 6 9 4 5 9 2 8 3 2 7 2 1 2 3 1 8 5 4 9 1,172 Special drawing rights certificate acct. 2,2 0 0 1 1 5 8 7 4 8 3 1 0 4 1 4 7 1 6 6 2 1 2 7 1 3 0 6 6 9 8 234 Coin 7 1 1 3 1 4 7 4 0 5 9 6 6 9 6 7 7 3 6 2 2 6 4 7 0 103 Securities, repurchase agreements, and loans 772,5 2 8 38,0 7 5 323,3 5 4 26,4 0 1 31,4 3 8 56,7 9 7 57,5 8 5 67,0 4 6 23,1 0 1 15,5 5 5 21,0 6 8 36,6 5 2 75,456 Securities held outright 744,1 8 9 38,0 7 5 295,0 9 7 26,4 0 0 31,4 3 8 56,7 9 4 57,5 7 4 67,0 1 8 23,0 9 3 15,5 4 3 21,0 4 9 36,6 5 2 75,456 U.S. Treasury1 744,1 8 9 38,0 7 5 295,0 9 7 26,4 0 0 31,4 3 8 56,7 9 4 57,5 7 4 67,0 1 8 23,0 9 3 15,5 4 3 21,0 4 9 36,6 5 2 75,456 Bills2 271,2 7 0 13,8 7 9 107,5 6 8 9,6 2 3 11,4 6 0 20,7 0 2 20,9 8 7 24,4 2 9 8,4 1 8 5,6 6 6 7,6 7 3 13,3 6 0 27,505 Notes and bonds3 472,9 1 9 24,1 9 6 187,5 2 9 16,7 7 7 19,9 7 8 36,0 9 2 36,5 8 8 42,5 8 9 14,6 7 5 9,8 7 7 13,3 7 6 23,2 9 2 47,951 Federal agency2 0 0 0 0 0 0 0 0 0 0 0 0 0 Repurchase agreements4 28,2 5 0 0 28,2 5 0 0 0 0 0 0 0 0 0 0 0 Loans 8 9 0 7 1 0 3 1 0 2 8 8 1 3 1 9 0 0 Items in process of collection 9,5 8 6 4 3 8 6 6 9 4 4 6 7 6 0 5 8 4 1,5 3 3 6 4 6 2 3 1 3 9 3 9 5 6 1,3 1 8 1,612 Bank premises 1,8 4 8 1 0 9 2 0 4 5 3 1 5 8 1 4 4 2 7 2 2 0 9 6 9 1 1 9 8 6 2 6 1 165 Other assets5 36,8 1 0 3,1 8 1 13,9 3 3 1,1 1 0 2,4 0 5 4,7 5 3 2,0 7 6 2,5 5 0 8 8 4 7 3 3 6 6 5 9 5 9 3,559 Interdistrict settlement account 0 - 3,1 6 1 -28,4 8 6 + 6,1 2 2 + 2 8 7 + 5,4 0 7 + 6,0 1 6 + 4 0 2 + 1,1 7 7 - 2 5 3 + 1,1 7 3 - 4,3 7 6 +15,693 Total assets 834,7 2 0 39,2 9 8 314,9 5 0 34,6 8 7 35,6 6 4 68,7 3 4 68,6 8 7 72,0 6 9 25,8 9 7 16,8 1 3 24,3 9 6 35,5 3 1 97,994 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.

H.4.1 4. Statement of Condition of Each Federal Reserve Bank on December 14, 2005 (continued) Millions of dollars Kansas San Assets, liabilities, and capital Total Boston New York Philadelphia Cleveland Richmond Atlanta Chicago St. Louis Minneapolis Dallas City Francisco Liabilities Federal Reserve notes outstanding 905,2 0 1 39,1 9 1 328,4 3 9 37,5 4 0 36,5 3 9 69,7 4 3 82,6 4 7 76,5 7 7 27,3 9 2 17,9 1 2 27,4 9 8 50,5 5 1 111,170 Less: notes held by F.R. Banks 158,6 3 0 4,9 9 8 44,1 3 0 6,6 3 3 5,6 5 6 12,7 4 3 20,9 5 2 11,1 1 3 3,6 9 8 2,9 6 7 5,4 0 6 18,0 6 8 22,268 Federal Reserve notes, net 746,5 7 1 34,1 9 3 284,3 1 0 30,9 0 7 30,8 8 3 57,0 0 0 61,6 9 6 65,4 6 5 23,6 9 5 14,9 4 5 22,0 9 3 32,4 8 4 88,901 Reverse repurchase agreements1 26,5 7 5 1,3 6 0 10,5 3 8 9 4 3 1,1 2 3 2,0 2 8 2,0 5 6 2,3 9 3 8 2 5 5 5 5 7 5 2 1,3 0 9 2,695 Deposits 21,5 4 6 1,1 0 3 10,0 4 4 6 1 0 7 6 2 1,5 4 5 1,7 8 5 1,6 2 5 6 4 4 3 1 5 5 5 6 7 3 6 1,821 Depository institutions 16,2 2 8 1,0 9 6 4,8 2 4 6 0 9 7 5 7 1,4 7 8 1,7 8 3 1,6 2 2 6 4 0 3 1 4 5 5 4 7 3 6 1,817 U.S. Treasury, general account 4,9 9 0 0 4,9 9 0 0 0 0 0 0 0 0 0 0 0 Foreign official 8 4 5 5 6 1 4 7 2 3 1 1 1 0 4 Other 2 4 4 2 1 7 4 0 1 6 0 0 1 4 0 1 0 0 Deferred availability cash items 7,2 3 7 6 5 0 7 9 1 6 2 6 5 2 2 5 0 3 9 5 6 3 5 9 1 6 5 3 5 5 4 8 8 4 4 9 1,372 Other liabilities and accrued dividends2 4,3 8 1 2 2 1 1,4 9 3 1 7 9 2 2 2 5 0 7 3 4 6 3 9 1 1 5 5 1 2 1 1 3 5 2 1 2 398 Total liabilities 806,3 1 0 37,5 2 6 307,1 7 6 33,2 6 5 33,5 1 2 61,5 8 4 66,8 3 9 70,2 3 4 25,4 8 3 16,2 9 1 24,0 2 3 35,1 9 0 95,187 Capital Capital paid in 13,5 3 0 3 1 6 3,6 8 4 7 4 4 1,0 1 3 3,9 4 2 8 9 2 8 7 6 1 4 3 2 4 5 1 7 5 1 5 3 1,346 Surplus 11,6 3 0 1,3 5 3 3,4 3 0 2 9 4 1,0 6 5 2,1 4 8 5 1 6 7 6 3 2 3 6 2 5 4 1 5 3 1 3 5 1,283 Other capital 3,2 5 0 1 0 2 6 6 1 3 8 5 7 4 1,0 6 0 4 4 1 1 9 5 3 5 2 2 4 5 5 3 179 Total liabilities and capital 834,7 2 0 39,2 9 8 314,9 5 0 34,6 8 7 35,6 6 4 68,7 3 4 68,6 8 7 72,0 6 9 25,8 9 7 16,8 1 3 24,3 9 6 35,5 3 1 97,994 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 Wednesday Federal Reserve notes and collateral Dec 14, 2005 Federal Reserve notes outstanding 905,201 Less: Notes held by F.R. Banks not subject to collateralization 158,630 Federal Reserve notes to be collateralized 746,571 Collateral held against Federal Reserve notes 746,571 Gold certificate account 11,037 Special drawing rights certificate account 2,200 U.S. Treasury and agency securities pledged1 733,334 Other assets pledged 0 Memo: Total U.S. Treasury and agency securities1 772,439 Less: face value of securities under reverse repurchase agreements 26,640 U.S. Treasury and agency securities eligible to be pledged 745,800 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.