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 May 11, 2006 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 May 10, 2006 May 3, 2006 May 11, 2005 May 10, 2006 Reserve Bank credit 824,690 + 1,629 + 41,447 821,796 Securities held outright 759,725 + 31 + 39,128 759,737 U.S. Treasury1 759,725 + 31 + 39,128 759,737 Bills2 275,370 0 + 11,292 275,370 Notes and bonds, nominal2 458,273 0 + 23,359 458,273 Notes and bonds, inflation-indexed2 22,646 0 + 3,538 22,646 Inflation compensation3 3,436 + 32 + 939 3,448 Federal agency2 0 0 0 0 Repurchase agreements4 23,500 - 1,571 + 2,464 20,500 Loans to depository institutions 174 + 36 + 40 385 Primary credit 40 + 15 + 32 248 Secondary credit 0 0 0 0 Seasonal credit 134 + 21 + 8 137 Float -301 + 2,748 + 356 -769 Other Federal Reserve assets 41,592 + 385 - 542 41,943 Gold stock 11,041 0 0 11,041 Special drawing rights certificate account 2,200 0 0 2,200 Treasury currency outstanding5 37,949 + 14 + 1,404 37,949 Total factors supplying reserve funds 875,880 + 1,643 + 42,851 872,986 Currency in circulation5 793,733 + 1,943 + 39,217 795,458 Reverse repurchase agreements6 25,976 + 1,605 + 827 24,535 Foreign official and international accounts 25,976 + 1,605 + 827 24,535 Dealers 0 0 0 0 Treasury cash holdings 178 - 3 - 76 180 Deposits with F.R. Banks, other than reserve balances 12,243 - 210 - 2,234 12,009 U.S. Treasury, general account 5,151 - 215 + 158 4,931 Foreign official 97 - 1 - 26 85 Service-related 6,696 - 1 - 2,328 6,696 Required clearing balances 6,696 - 1 - 2,328 6,696 Adjustments to compensate for float 0 0 0 0 Other 299 + 6 - 37 296 Other liabilities and capital 33,779 + 59 + 4,866 33,428 Total factors, other than reserve balances, absorbing reserve funds 865,908 + 3,392 + 42,599 865,610 Reserve balances with Federal Reserve Banks 9,972 - 1,749 + 252 7,376 Memo (off-balance-sheet items): Marketable securities held in custody for foreign official and international accounts2,7 1,621,006 + 9,161 + 221,646 1,623,092 U.S. Treasury 1,124,753 + 5,668 + 50,944 1,125,085 Federal agency 496,253 + 3,493 + 170,702 498,007 Securities lent to dealers 1,008 - 663 - 675 1,438 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 May 10, 2006 May 3, 2006 May 11, 2005 Assets Gold certificate account 11,037 0 0 Special drawing rights certificate account 2,200 0 0 Coin 781 - 22 + 106 Securities, repurchase agreements, and loans 780,622 - 4,968 + 32,918 Securities held outright 759,737 + 33 + 38,172 U.S. Treasury1 759,737 + 33 + 38,172 Bills2 275,370 0 + 11,107 Notes and bonds, nominal2 458,273 0 + 22,590 Notes and bonds, inflation-indexed2 22,646 0 + 3,538 Inflation compensation3 3,448 + 33 + 937 Federal agency2 0 0 0 Repurchase agreements4 20,500 - 5,250 - 5,500 Loans 385 + 250 + 247 Items in process of collection (1,246) 5,052 - 1,310 - 1,548 Bank premises 1,836 + 1 + 22 Other assets5 40,018 + 832 - 182 Total assets (1,246) 841,546 - 5,468 + 31,316 Liabilities Federal Reserve notes, net of F.R. Bank holdings 758,466 + 1,251 + 38,142 Reverse repurchase agreements6 24,535 + 57 - 773 Deposits (0) 19,297 - 5,752 - 10,119 Depository institutions 13,984 - 5,424 - 10,041 U.S. Treasury, general account 4,931 - 284 - 67 Foreign official 85 - 31 + 6 Other (0) 296 - 14 - 19 Deferred availability cash items (1,246) 5,820 - 1,289 - 735 Other liabilities and accrued dividends7 4,686 + 40 + 1,352 Total liabilities (1,246) 812,804 - 5,692 + 27,867 Capital accounts Capital paid in 13,848 + 23 + 1,077 Surplus 12,901 0 + 1,489 Other capital accounts 1,992 + 200 + 882 Total capital 28,742 + 224 + 3,449 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, May 10, 2006 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 270 66,774 + 1,068 0 0 20,500 24,535 16 days to 90 days 115 164,927 - 199 0 0 0 0 91 days to 1 year 0 176,385 - 866 0 0 . . . . . . Over 1 year to 5 years . . . 216,226 + 10 0 0 . . . . . . Over 5 years to 10 years . . . 55,392 + 5 0 0 . . . . . . Over 10 years . . . 80,033 + 15 0 0 . . . . . . All 385 759,737 + 33 0 0 20,500 24,535 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 May 10, 2006 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 4 8 6 4,1 3 9 4 6 3 4 4 6 8 5 3 1,0 2 3 9 4 7 3 2 8 2 1 1 3 2 4 5 7 5 1,242 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 8 1 3 8 5 4 4 0 7 9 6 5 8 2 9 1 4 0 3 8 6 2 6 8 124 Securities, repurchase agreements, and loans 780,6 2 2 36,2 5 8 301,8 9 7 32,9 8 5 32,8 0 5 63,1 1 1 63,6 1 0 69,8 2 4 24,1 5 0 15,4 7 5 22,2 6 1 34,0 9 7 84,148 Securities held outright 759,7 3 7 36,2 5 3 281,1 9 9 32,9 8 5 32,8 0 5 63,1 1 1 63,6 0 3 69,7 5 9 24,1 3 8 15,4 4 5 22,2 4 7 34,0 9 6 84,095 U.S. Treasury1 759,7 3 7 36,2 5 3 281,1 9 9 32,9 8 5 32,8 0 5 63,1 1 1 63,6 0 3 69,7 5 9 24,1 3 8 15,4 4 5 22,2 4 7 34,0 9 6 84,095 Bills2 275,3 7 0 13,1 4 0 101,9 2 2 11,9 5 5 11,8 9 0 22,8 7 5 23,0 5 3 25,2 8 4 8,7 4 9 5,5 9 8 8,0 6 3 12,3 5 8 30,481 Notes and bonds3 484,3 6 7 23,1 1 3 179,2 7 7 21,0 2 9 20,9 1 5 40,2 3 6 40,5 5 0 44,4 7 5 15,3 8 9 9,8 4 7 14,1 8 3 21,7 3 8 53,615 Federal agency2 0 0 0 0 0 0 0 0 0 0 0 0 0 Repurchase agreements4 20,5 0 0 0 20,5 0 0 0 0 0 0 0 0 0 0 0 0 Loans 3 8 5 5 1 9 8 0 0 0 7 6 5 1 2 3 0 1 4 1 53 Items in process of collection 6,2 9 8 4 8 9 2 6 0 5 6 8 7 8 0 4 0 4 7 3 1 3 1 6 2 1 5 2 4 6 5 3 2 5 0 8 1,249 Bank premises 1,8 3 6 1 1 3 2 0 5 5 5 1 5 6 1 5 3 2 3 1 2 0 9 6 9 1 1 8 1 0 1 2 5 8 166 Other assets5 40,0 1 8 1,2 8 7 14,4 1 8 1,8 9 8 2,3 4 4 7,1 2 4 2,8 6 1 2,8 7 1 8 0 8 7 3 6 7 5 9 1,0 0 6 3,905 Interdistrict settlement account 0 - 1,4 0 9 - 1,4 6 4 + 1 7 5 - 3 4 6 + 2,3 2 9 + 3,2 9 7 - 6,0 4 9 - 2 2 6 + 2 0 + 1,8 0 6 - 2,0 3 7 + 3,906 Total assets 842,7 9 2 37,3 7 7 320,3 8 4 36,2 6 8 36,3 6 8 74,1 8 7 72,0 0 1 68,4 2 0 25,4 5 5 16,8 7 3 25,9 1 1 34,5 7 3 94,974 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 May 10, 2006 (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 918,6 1 7 38,4 4 7 338,4 3 3 39,4 1 3 36,8 6 3 73,9 5 0 86,6 1 7 75,3 7 5 27,5 4 8 17,4 8 7 27,4 4 8 49,1 4 5 107,890 Less: notes held by F.R. Banks 160,1 5 1 4,4 4 8 44,3 8 1 6,9 5 7 5,7 6 9 12,4 9 2 22,4 9 9 13,3 1 3 4,0 7 5 2,3 9 2 3,9 8 1 17,6 7 6 22,167 Federal Reserve notes, net 758,4 6 6 33,9 9 9 294,0 5 2 32,4 5 6 31,0 9 4 61,4 5 8 64,1 1 9 62,0 6 2 23,4 7 3 15,0 9 5 23,4 6 7 31,4 6 9 85,723 Reverse repurchase agreements1 24,5 3 5 1,1 7 1 9,0 8 1 1,0 6 5 1,0 5 9 2,0 3 8 2,0 5 4 2,2 5 3 7 8 0 4 9 9 7 1 8 1,1 0 1 2,716 Deposits 19,2 9 7 7 7 3 7,2 8 0 4 3 9 1,2 4 0 1,4 1 0 2,4 1 1 1,4 3 9 5 3 6 3 2 0 6 3 6 7 0 3 2,110 Depository institutions 13,9 8 4 7 7 0 2,1 3 4 4 3 7 1,2 3 6 1,2 7 0 2,4 0 8 1,4 3 6 5 3 5 3 1 6 6 3 5 7 0 2 2,106 U.S. Treasury, general account 4,9 3 1 0 4,9 3 1 0 0 0 0 0 0 0 0 0 0 Foreign official 8 5 1 5 7 2 3 1 1 3 3 0 1 1 0 4 Other 2 9 6 2 1 5 8 0 1 1 2 9 0 0 1 3 1 0 0 Deferred availability cash items 7,0 6 7 5 1 6 7 0 6 5 6 4 6 5 7 6 1 9 8 2 7 3 6 7 1 6 9 3 3 0 5 6 0 6 3 0 1,121 Other liabilities and accrued dividends2 4,6 8 6 2 3 0 1,5 4 8 2 2 1 2 3 3 4 9 9 3 9 8 4 2 6 1 6 9 1 2 4 1 5 5 2 1 5 468 Total liabilities 814,0 5 0 36,6 8 8 312,6 6 7 34,7 4 5 34,2 8 3 66,0 2 4 69,8 0 8 66,5 4 7 25,1 2 7 16,3 6 7 25,5 3 7 34,1 1 8 92,138 Capital Capital paid in 13,8 4 8 3 2 4 3,6 7 0 7 2 9 1,0 1 5 4,0 0 7 1,0 6 0 8 9 9 1 4 9 2 4 2 1 7 4 2 0 9 1,371 Surplus 12,9 0 1 3 1 7 3,6 8 5 7 4 4 1,0 1 3 3,3 0 7 8 9 2 8 7 6 1 4 4 2 4 5 1 7 5 1 5 3 1,349 Other capital 1,9 9 2 4 8 3 6 2 4 9 5 7 8 5 0 2 4 0 9 8 3 5 1 9 2 5 9 4 116 Total liabilities and capital 842,7 9 2 37,3 7 7 320,3 8 4 36,2 6 8 36,3 6 8 74,1 8 7 72,0 0 1 68,4 2 0 25,4 5 5 16,8 7 3 25,9 1 1 34,5 7 3 94,974 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 May 10, 2006 Federal Reserve notes outstanding 918,617 Less: Notes held by F.R. Banks not subject to collateralization 160,151 Federal Reserve notes to be collateralized 758,466 Collateral held against Federal Reserve notes 758,466 Gold certificate account 11,037 Special drawing rights certificate account 2,200 U.S. Treasury and agency securities pledged1 745,229 Other assets pledged 0 Memo: Total U.S. Treasury and agency securities1 780,237 Less: face value of securities under reverse repurchase agreements 24,565 U.S. Treasury and agency securities eligible to be pledged 755,672 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.