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 22, 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 21, 2005 Dec 14, 2005 Dec 22, 2004 Dec 21, 2005 Reserve Bank credit 817,179 + 5,554 + 32,712 830,006 Securities held outright 744,196 + 11 + 26,522 744,200 U.S. Treasury1 744,196 + 11 + 26,522 744,200 Bills2 271,270 0 + 8,409 271,270 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 3,347 + 10 + 1,071 3,351 Federal agency2 0 0 0 0 Repurchase agreements4 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 outstanding5 36,527 + 14 + 92 36,527 Total factors supplying reserve funds 866,946 + 5,568 + 32,801 879,774 Currency in circulation5 783,800 + 4,458 + 30,169 788,592 Reverse repurchase agreements6 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 accounts2,7 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.

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 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. Treasury1 744,200 + 11 + 26,518 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 3,351 + 10 + 1,067 Federal agency2 0 0 0 Repurchase agreements4 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 assets5 36,842 + 32 - 2,422 Total assets (1,092) 851,030 + 17,369 + 38,171 Liabilities Federal Reserve notes, net of F.R. Bank holdings 752,969 + 6,398 + 31,052 Reverse repurchase agreements6 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 dividends7 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 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 21, 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 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 year to 5 years . . . 210,739 + 4 0 0 . . . . . . Over 5 years 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.

H.4.1 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 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 0 4 3 1 4 6 3 7 5 7 6 7 9 3 7 7 3 6 2 3 6 2 7 1 103 Securities, repurchase agreements, and loans 789,2 7 5 38,0 7 6 340,1 0 1 26,4 0 0 31,4 3 9 56,7 9 5 57,5 8 4 67,0 4 5 23,1 0 0 15,5 5 6 21,0 6 5 36,6 5 6 75,459 Securities held outright 744,2 0 0 38,0 7 6 295,1 0 1 26,4 0 0 31,4 3 9 56,7 9 5 57,5 7 5 67,0 1 9 23,0 9 3 15,5 4 3 21,0 4 9 36,6 5 3 75,457 U.S. Treasury1 744,2 0 0 38,0 7 6 295,1 0 1 26,4 0 0 31,4 3 9 56,7 9 5 57,5 7 5 67,0 1 9 23,0 9 3 15,5 4 3 21,0 4 9 36,6 5 3 75,457 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 2 9 24,1 9 7 187,5 3 3 16,7 7 7 19,9 7 9 36,0 9 2 36,5 8 8 42,5 9 0 14,6 7 5 9,8 7 7 13,3 7 6 23,2 9 2 47,952 Federal agency2 0 0 0 0 0 0 0 0 0 0 0 0 0 Repurchase agreements4 45,0 0 0 0 45,0 0 0 0 0 0 0 0 0 0 0 0 0 Loans 7 5 0 0 0 0 0 9 2 6 7 1 3 1 6 3 2 Items in process of collection 10,2 0 9 5 7 0 8 0 4 6 0 9 9 4 5 4 4 6 1,5 5 6 5 9 0 2 7 3 4 0 3 1,0 8 3 1,1 9 0 1,741 Bank premises 1,8 5 6 1 1 0 2 0 4 5 3 1 5 8 1 5 2 2 7 2 2 1 0 6 9 1 2 0 8 1 2 6 2 164 Other assets5 36,8 4 2 3,1 7 4 14,0 3 1 1,0 8 6 2,4 0 1 4,7 0 4 2,0 4 5 2,5 5 8 8 8 6 7 3 4 6 7 4 9 7 4 3,575 Interdistrict settlement account 0 - 3,4 3 4 -40,5 2 3 + 6,2 5 7 + 1,8 0 3 + 7,9 5 0 +10,1 9 4 + 1,3 4 1 + 1,9 0 2 - 1 1 8 + 1,7 9 5 - 3,9 6 6 +16,799 Total assets 852,1 2 2 39,1 5 1 319,8 9 1 34,9 5 8 37,3 6 0 71,0 9 7 72,8 5 6 72,9 6 0 26,6 6 5 16,9 6 0 25,1 4 3 35,8 3 4 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.

H.4.1 4. Statement of Condition of Each Federal Reserve Bank on December 21, 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 908,2 6 7 39,2 0 6 328,1 5 9 37,4 3 9 36,6 3 5 69,9 1 1 84,3 7 9 77,1 0 8 28,1 6 2 17,9 3 2 27,8 8 8 50,4 3 6 111,011 Less: notes held by F.R. Banks 155,2 9 8 4,8 5 5 44,7 5 3 6,3 8 5 5,3 6 3 12,5 6 3 19,6 1 4 10,9 2 7 3,6 8 8 2,9 2 1 5,2 7 5 17,6 9 0 21,264 Federal Reserve notes, net 752,9 6 9 34,3 5 1 283,4 0 6 31,0 5 4 31,2 7 3 57,3 4 8 64,7 6 5 66,1 8 1 24,4 7 4 15,0 1 1 22,6 1 3 32,7 4 6 89,746 Reverse repurchase agreements1 26,7 6 2 1,3 6 9 10,6 1 2 9 4 9 1,1 3 1 2,0 4 2 2,0 7 0 2,4 1 0 8 3 0 5 5 9 7 5 7 1,3 1 8 2,714 Deposits 32,0 6 1 8 2 5 15,8 5 3 6 7 4 2,0 6 5 3,3 0 9 2,7 4 4 1,8 5 7 6 3 7 3 4 4 7 3 1 7 6 6 2,256 Depository institutions 26,4 0 5 8 2 0 10,3 3 6 6 7 3 2,0 5 9 3,1 9 9 2,7 4 2 1,8 5 3 6 3 5 3 4 3 7 2 9 7 6 6 2,252 U.S. Treasury, general account 5,2 9 0 0 5,2 9 0 0 0 0 0 0 0 0 0 0 0 Foreign official 8 6 5 5 8 1 4 7 2 3 1 1 1 0 4 Other 2 8 0 0 1 6 9 0 2 1 0 2 0 1 2 0 2 0 0 Deferred availability cash items 8,1 9 5 7 1 6 9 6 7 6 6 9 5 8 9 7 7 6 1,1 1 3 3 4 0 1 7 9 4 2 3 5 5 2 4 6 3 1,408 Other liabilities and accrued dividends2 4,3 5 4 2 2 1 1,5 0 0 1 7 3 2 2 2 4 8 4 3 4 4 3 8 5 1 5 5 1 2 0 1 3 6 2 1 2 402 Total liabilities 824,3 4 1 37,4 8 2 312,3 3 9 33,5 1 9 35,2 7 9 63,9 5 9 71,0 3 6 71,1 7 3 26,2 7 6 16,4 5 6 24,7 8 9 35,5 0 5 96,526 Capital Capital paid in 13,5 3 6 3 1 7 3,6 8 5 7 4 4 1,0 1 3 3,9 4 2 8 9 2 8 7 6 1 4 4 2 4 5 1 7 5 1 5 3 1,349 Surplus 11,6 2 9 1,3 5 2 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 2,6 1 7 0 4 3 8 4 0 1 2 1,0 4 7 4 1 2 1 4 7 9 5 2 6 4 1 90 Total liabilities and capital 852,1 2 2 39,1 5 1 319,8 9 1 34,9 5 8 37,3 6 0 71,0 9 7 72,8 5 6 72,9 6 0 26,6 6 5 16,9 6 0 25,1 4 3 35,8 3 4 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 Wednesday Federal Reserve notes and collateral 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 pledged1 739,732 Other assets pledged 0 Memo: Total U.S. Treasury and agency securities1 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.