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 25, 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 24, 2006 May 17, 2006 May 25, 2005 May 24, 2006 Reserve Bank credit 822,842 - 1,833 + 36,247 824,241 Securities held outright 760,449 + 272 + 38,261 762,378 U.S. Treasury1 760,449 + 272 + 38,261 762,378 Bills2 275,370 0 + 11,017 275,370 Notes and bonds, nominal2 458,932 + 239 + 22,778 460,850 Notes and bonds, inflation-indexed2 22,646 0 + 3,538 22,646 Inflation compensation3 3,501 + 33 + 928 3,513 Federal agency2 0 0 0 0 Repurchase agreements4 22,857 - 893 - 3,500 22,500 Loans to depository institutions 174 + 6 + 24 179 Primary credit 21 + 1 + 13 18 Secondary credit 0 0 0 0 Seasonal credit 152 + 3 + 10 161 Float 225 + 473 + 1,011 -27 Other Federal Reserve assets 39,137 - 1,691 + 452 39,210 Gold stock 11,041 0 0 11,041 Special drawing rights certificate account 2,200 0 0 2,200 Treasury currency outstanding5 37,977 + 14 + 1,432 37,977 Total factors supplying reserve funds 874,060 - 1,819 + 37,679 875,459 Currency in circulation5 793,851 - 129 + 39,585 796,331 Reverse repurchase agreements6 23,218 - 439 - 2,562 22,803 Foreign official and international accounts 23,218 - 439 - 2,562 22,803 Dealers 0 0 0 0 Treasury cash holdings 185 + 4 - 77 187 Deposits with F.R. Banks, other than reserve balances 13,218 + 248 - 426 12,891 U.S. Treasury, general account 5,476 + 284 + 540 5,188 Foreign official 88 - 17 + 6 85 Service-related 7,365 - 1 - 975 7,366 Required clearing balances 7,365 - 1 - 975 7,366 Adjustments to compensate for float 0 0 0 0 Other 288 - 20 + 2 252 Other liabilities and capital 33,506 - 391 + 4,528 33,148 Total factors, other than reserve balances, absorbing reserve funds 863,977 - 709 + 41,049 865,359 Reserve balances with Federal Reserve Banks 10,082 - 1,112 - 3,371 10,100 Memo (off-balance-sheet items): Marketable securities held in custody for foreign official and international accounts2,7 1,616,566 - 7,849 + 205,723 1,612,233 U.S. Treasury 1,117,100 - 7,954 + 36,781 1,112,531 Federal agency 499,465 + 104 + 168,941 499,702 Securities lent to dealers 1,336 - 264 - 2,088 1,228 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 24, 2006 May 17, 2006 May 25, 2005 Assets Gold certificate account 11,037 0 0 Special drawing rights certificate account 2,200 0 0 Coin 743 - 24 + 110 Securities, repurchase agreements, and loans 785,057 + 3,728 + 30,916 Securities held outright 762,378 + 2,727 + 39,386 U.S. Treasury1 762,378 + 2,727 + 39,386 Bills2 275,370 0 + 10,855 Notes and bonds, nominal2 460,850 + 2,695 + 24,069 Notes and bonds, inflation-indexed2 22,646 0 + 3,538 Inflation compensation3 3,513 + 33 + 926 Federal agency2 0 0 0 Repurchase agreements4 22,500 + 1,000 - 8,500 Loans 179 + 1 + 30 Items in process of collection (1,716) 5,410 - 1,864 + 200 Bank premises 1,836 0 + 18 Other assets5 37,254 + 329 + 233 Total assets (1,716) 843,537 + 2,169 + 31,477 Liabilities Federal Reserve notes, net of F.R. Bank holdings 759,280 + 1,311 + 37,536 Reverse repurchase agreements6 22,803 + 234 - 2,383 Deposits (0) 22,880 + 1,122 - 6,877 Depository institutions 17,354 + 1,041 - 6,527 U.S. Treasury, general account 5,188 + 133 - 330 Foreign official 85 0 + 6 Other (0) 252 - 52 - 26 Deferred availability cash items (1,716) 5,427 - 597 - 907 Other liabilities and accrued dividends7 4,889 + 149 + 1,465 Total liabilities (1,716) 815,279 + 2,220 + 28,834 Capital accounts Capital paid in 13,866 + 7 + 1,007 Surplus 12,901 0 + 1,484 Other capital accounts 1,491 - 58 + 151 Total capital 28,258 - 51 + 2,643 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 24, 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 164 65,840 + 1,386 0 0 22,500 22,803 16 days to 90 days 15 163,279 - 788 0 0 0 0 91 days to 1 year 0 181,747 + 780 0 0 . . . . . . Over 1 year to 5 years . . . 213,652 + 1,228 0 0 . . . . . . Over 5 years to 10 years . . . 59,595 + 4,198 0 0 . . . . . . Over 10 years . . . 78,265 - 4,077 0 0 . . . . . . All 179 762,378 + 2,727 0 0 22,500 22,803 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 24, 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 4 3 3 5 5 1 3 6 7 5 6 3 8 3 8 1 3 8 3 6 6 0 6 5 121 Securities, repurchase agreements, and loans 785,0 5 7 36,3 8 9 304,6 7 7 33,0 9 9 32,9 1 9 63,3 3 5 63,8 3 5 70,0 7 1 24,2 3 7 15,5 3 3 22,3 4 5 34,2 1 5 84,400 Securities held outright 762,3 7 8 36,3 7 9 282,1 7 7 33,0 9 9 32,9 1 9 63,3 3 1 63,8 2 4 70,0 0 1 24,2 2 2 15,4 9 9 22,3 2 4 34,2 1 5 84,388 U.S. Treasury1 762,3 7 8 36,3 7 9 282,1 7 7 33,0 9 9 32,9 1 9 63,3 3 1 63,8 2 4 70,0 0 1 24,2 2 2 15,4 9 9 22,3 2 4 34,2 1 5 84,388 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 487,0 0 9 23,2 3 9 180,2 5 5 21,1 4 4 21,0 2 9 40,4 5 6 40,7 7 1 44,7 1 7 15,4 7 3 9,9 0 1 14,2 6 1 21,8 5 6 53,907 Federal agency2 0 0 0 0 0 0 0 0 0 0 0 0 0 Repurchase agreements4 22,5 0 0 0 22,5 0 0 0 0 0 0 0 0 0 0 0 0 Loans 1 7 9 1 0 0 0 0 5 1 2 6 9 1 5 3 5 2 1 1 12 Items in process of collection 7,1 2 6 4 9 3 5 8 6 4 6 1 7 9 6 4 5 5 9 1 0 4 0 7 2 5 1 3 1 7 6 0 8 6 6 1 1,180 Bank premises 1,8 3 6 1 1 3 2 0 6 5 6 1 5 7 1 5 3 2 3 1 2 0 9 7 0 1 1 8 1 0 0 2 5 8 166 Other assets5 37,2 5 4 1,1 5 7 13,4 1 0 1,8 7 3 2,2 0 9 6,8 3 9 2,5 9 9 2,6 1 9 6 9 8 6 7 4 6 8 1 8 9 0 3,605 Interdistrict settlement account 0 - 1,3 6 9 + 5 9 4 + 7 6 5 - 6 4 5 + 3,2 3 9 + 2,7 1 4 - 6,8 5 7 - 4 1 5 - 1 9 5 + 1,6 0 0 - 2,6 0 2 + 3,170 Total assets 845,2 5 3 37,4 1 9 324,5 3 7 36,8 3 5 36,0 6 0 75,0 8 4 71,5 6 3 67,6 9 0 25,2 7 8 16,7 2 5 25,7 8 4 34,1 6 1 94,118 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 24, 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 922,0 6 9 38,3 0 2 342,0 3 5 39,5 9 7 36,8 2 7 73,8 4 6 87,3 2 0 74,9 3 2 27,4 9 3 17,4 0 7 27,3 9 0 49,1 9 1 107,727 Less: notes held by F.R. Banks 162,7 8 9 4,3 2 4 45,6 6 2 6,8 0 1 5,8 7 6 12,5 2 6 23,2 5 1 13,5 2 0 4,1 2 7 2,4 0 7 3,8 7 7 18,0 8 0 22,338 Federal Reserve notes, net 759,2 8 0 33,9 7 8 296,3 7 4 32,7 9 7 30,9 5 2 61,3 2 0 64,0 6 8 61,4 1 2 23,3 6 6 15,0 0 0 23,5 1 3 31,1 1 1 85,389 Reverse repurchase agreements1 22,8 0 3 1,0 8 8 8,4 4 0 9 9 0 9 8 5 1,8 9 4 1,9 0 9 2,0 9 4 7 2 4 4 6 4 6 6 8 1,0 2 3 2,524 Deposits 22,8 8 0 9 6 6 9,7 6 9 7 2 9 1,0 3 0 2,7 3 6 2,1 1 4 1,5 4 3 5 5 0 2 8 9 5 6 0 6 8 8 1,905 Depository institutions 17,3 5 4 9 6 4 4,3 5 7 7 2 7 1,0 2 6 2,6 4 7 2,1 1 1 1,5 4 0 5 4 7 2 8 8 5 5 9 6 8 8 1,901 U.S. Treasury, general account 5,1 8 8 0 5,1 8 8 0 0 0 0 0 0 0 0 0 0 Foreign official 8 5 1 5 6 2 3 1 1 3 3 0 1 1 0 4 Other 2 5 2 1 1 6 7 0 1 7 9 0 0 2 0 1 0 0 Deferred availability cash items 7,1 4 3 4 7 6 7 7 1 5 7 5 8 0 5 5 8 3 8 9 1 3 4 3 1 5 2 3 5 0 5 2 1 6 7 1 1,006 Other liabilities and accrued dividends2 4,8 8 9 2 3 9 1,6 0 6 2 5 2 2 4 1 5 2 5 4 1 3 4 4 6 1 7 5 1 2 5 1 5 5 2 2 4 488 Total liabilities 816,9 9 5 36,7 4 7 316,9 6 0 35,3 4 3 34,0 1 2 67,0 5 9 69,3 9 4 65,8 3 7 24,9 6 7 16,2 2 8 25,4 1 8 33,7 1 8 91,312 Capital Capital paid in 13,8 6 6 3 2 4 3,6 7 0 7 2 9 1,0 1 7 4,0 1 0 1,0 6 3 9 0 2 1 4 9 2 4 2 1 7 4 2 0 9 1,378 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 1,4 9 1 3 1 2 2 2 1 9 1 8 7 0 8 2 1 4 7 5 1 8 9 1 7 8 1 79 Total liabilities and capital 845,2 5 3 37,4 1 9 324,5 3 7 36,8 3 5 36,0 6 0 75,0 8 4 71,5 6 3 67,6 9 0 25,2 7 8 16,7 2 5 25,7 8 4 34,1 6 1 94,118 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 24, 2006 Federal Reserve notes outstanding 922,069 Less: Notes held by F.R. Banks not subject to collateralization 162,789 Federal Reserve notes to be collateralized 759,280 Collateral held against Federal Reserve notes 759,280 Gold certificate account 11,037 Special drawing rights certificate account 2,200 U.S. Treasury and agency securities pledged1 746,043 Other assets pledged 0 Memo: Total U.S. Treasury and agency securities1 784,878 Less: face value of securities under reverse repurchase agreements 22,829 U.S. Treasury and agency securities eligible to be pledged 762,049 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.