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 July 6, 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 Jul 5, 2006 Jun 28, 2006 Jul 6, 2005 Jul 5, 2006 Reserve Bank credit 836,187 + 11,458 + 40,391 836,958 Securities held outright 766,371 + 41 + 41,652 766,385 U.S. Treasury1 766,371 + 41 + 41,652 766,385 Bills2 275,370 0 + 10,355 275,370 Notes and bonds, nominal2 464,580 0 + 27,206 464,580 Notes and bonds, inflation-indexed2 22,646 0 + 3,113 22,646 Inflation compensation3 3,775 + 41 + 978 3,789 Federal agency2 0 0 0 0 Repurchase agreements4 29,464 + 11,035 - 607 28,250 Loans to depository institutions 291 - 2 - 454 282 Primary credit 15 - 1 - 524 6 Secondary credit 0 0 0 0 Seasonal credit 276 - 1 + 70 276 Float -428 + 194 - 941 1,475 Other Federal Reserve assets 40,488 + 188 + 740 40,567 Gold stock 11,041 0 0 11,041 Special drawing rights certificate account 2,200 0 0 2,200 Treasury currency outstanding5 38,062 + 14 + 1,447 38,062 Total factors supplying reserve funds 887,490 + 11,472 + 41,838 888,261 Currency in circulation5 798,204 + 5,267 + 31,703 800,735 Reverse repurchase agreements6 29,683 + 2,641 + 3,916 29,086 Foreign official and international accounts 29,683 + 2,641 + 3,916 29,086 Dealers 0 0 0 0 Treasury cash holdings 173 - 20 - 64 167 Deposits with F.R. Banks, other than reserve balances 12,849 + 437 + 319 13,037 U.S. Treasury, general account 5,334 + 410 + 1,494 5,528 Foreign official 111 + 24 - 14 90 Service-related 7,162 - 4 - 1,116 7,162 Required clearing balances 7,162 - 4 - 1,116 7,162 Adjustments to compensate for float 0 0 0 0 Other 242 + 7 - 45 258 Other liabilities and capital 34,926 - 152 + 5,883 34,629 Total factors, other than reserve balances, absorbing reserve funds 875,835 + 8,173 + 41,757 877,654 Reserve balances with Federal Reserve Banks 11,655 + 3,299 + 81 10,607 Memo (off-balance-sheet items): Marketable securities held in custody for foreign official and international accounts2,7 1,636,139 - 2,136 + 198,165 1,637,480 U.S. Treasury 1,117,918 - 2,668 + 31,982 1,119,882 Federal agency 518,220 + 531 + 166,182 517,598 Securities lent to dealers 6,725 + 4,385 + 1,369 5,613 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 Jul 5, 2006 Jun 28, 2006 Jul 6, 2005 Assets Gold certificate account 11,037 0 0 Special drawing rights certificate account 2,200 0 0 Coin 696 - 24 + 88 Securities, repurchase agreements, and loans 794,917 + 5,768 + 35,978 Securities held outright 766,385 + 36 + 41,668 U.S. Treasury1 766,385 + 36 + 41,668 Bills2 275,370 0 + 10,355 Notes and bonds, nominal2 464,580 0 + 27,206 Notes and bonds, inflation-indexed2 22,646 0 + 3,113 Inflation compensation3 3,789 + 36 + 993 Federal agency2 0 0 0 Repurchase agreements4 28,250 + 5,750 - 5,750 Loans 282 - 18 + 60 Items in process of collection (1,423) 5,979 + 1,355 - 4,939 Bank premises 1,857 + 2 + 41 Other assets5 38,463 + 149 + 430 Total assets (1,423) 855,149 + 7,251 + 31,598 Liabilities Federal Reserve notes, net of F.R. Bank holdings 763,532 + 5,211 + 31,015 Reverse repurchase agreements6 29,086 - 1,314 + 4,622 Deposits (2) 23,397 + 3,958 - 5,947 Depository institutions 17,521 + 3,282 - 6,903 U.S. Treasury, general account 5,528 + 649 + 984 Foreign official 90 0 + 8 Other (2) 258 + 27 - 37 Deferred availability cash items (1,421) 4,505 - 592 - 3,927 Other liabilities and accrued dividends7 4,727 - 452 + 1,502 Total liabilities (1,423) 825,247 + 6,811 + 27,265 Capital accounts Capital paid in 14,975 + 7 + 2,036 Surplus 12,901 0 + 1,464 Other capital accounts 2,026 + 433 + 832 Total capital 29,902 + 440 + 4,333 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, July 5, 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 47 58,899 - 2,410 0 0 28,250 29,086 16 days to 90 days 235 174,987 + 2,020 0 0 0 0 91 days to 1 year 0 176,068 - 935 0 0 . . . . . . Over 1 year to 5 years . . . 217,323 + 1,341 0 0 . . . . . . Over 5 years to 10 years . . . 60,717 + 5 0 0 . . . . . . Over 10 years . . . 78,392 + 17 0 0 . . . . . . All 282 766,385 + 36 0 0 28,250 29,086 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 July 5, 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 6 9 6 3 1 4 0 3 0 6 6 6 2 8 7 7 4 3 4 3 1 5 8 6 8 116 Securities, repurchase agreements, and loans 794,9 1 7 36,5 7 3 311,9 1 0 33,2 7 3 33,0 9 2 63,6 6 4 64,1 6 5 70,4 5 9 24,3 8 6 15,6 7 9 22,4 7 0 34,3 9 8 84,847 Securities held outright 766,3 8 5 36,5 7 1 283,6 6 0 33,2 7 3 33,0 9 2 63,6 6 4 64,1 5 9 70,3 6 9 24,3 4 9 15,5 8 0 22,4 4 1 34,3 9 4 84,831 U.S. Treasury1 766,3 8 5 36,5 7 1 283,6 6 0 33,2 7 3 33,0 9 2 63,6 6 4 64,1 5 9 70,3 6 9 24,3 4 9 15,5 8 0 22,4 4 1 34,3 9 4 84,831 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 491,0 1 5 23,4 3 0 181,7 3 8 21,3 1 8 21,2 0 2 40,7 8 9 41,1 0 6 45,0 8 5 15,6 0 0 9,9 8 2 14,3 7 8 22,0 3 6 54,351 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 2 8 2 3 0 0 0 0 6 9 0 3 7 9 9 2 8 4 15 Items in process of collection 7,4 0 3 4 5 8 5 9 0 2 2 2 1,0 1 5 3 2 6 8 7 5 5 1 6 2 6 0 2 9 4 8 0 1 3 8 4 1,662 Bank premises 1,8 5 7 1 1 3 2 0 6 5 7 1 5 7 1 5 4 2 3 1 2 0 8 7 0 1 1 8 1 1 5 2 5 9 171 Other assets5 38,4 6 3 1,2 2 4 13,9 1 8 1,8 1 9 2,2 6 4 6,9 0 5 2,7 2 8 2,7 3 9 7 4 8 7 0 1 7 2 0 9 5 4 3,743 Interdistrict settlement account 0 - 7 5 - 3,9 0 6 + 1,9 1 9 - 6 6 0 + 3,4 4 0 + 3,3 7 3 - 7,4 0 1 - 2 6 4 + 4 7 + 1,5 5 1 - 2,0 2 1 + 3,997 Total assets 856,5 7 2 38,9 2 5 327,7 7 1 37,8 6 6 36,4 8 5 75,5 5 0 72,6 4 8 67,7 5 4 25,6 3 2 17,1 1 1 26,1 0 4 34,7 1 5 96,012 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 July 5, 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 929,2 5 7 38,1 3 5 348,5 5 9 39,7 5 4 37,0 7 6 73,3 5 7 90,4 4 9 74,1 3 1 27,3 9 2 17,2 7 1 27,1 7 6 48,9 9 7 106,960 Less: notes held by F.R. Banks 165,7 2 5 3,5 1 8 50,5 2 5 7,1 3 2 5,9 1 7 12,6 4 2 25,2 4 8 12,9 7 8 3,8 2 4 2,1 2 6 3,5 1 2 17,2 7 4 21,029 Federal Reserve notes, net 763,5 3 2 34,6 1 7 298,0 3 4 32,6 2 2 31,1 5 8 60,7 1 5 65,2 0 1 61,1 5 2 23,5 6 8 15,1 4 5 23,6 6 5 31,7 2 3 85,931 Reverse repurchase agreements1 29,0 8 6 1,3 8 8 10,7 6 6 1,2 6 3 1,2 5 6 2,4 1 6 2,4 3 5 2,6 7 1 9 2 4 5 9 1 8 5 2 1,3 0 5 3,220 Deposits 23,3 9 9 1,4 7 5 9,1 2 1 8 7 1 1,2 1 2 3,5 8 2 1,8 0 0 1,3 2 5 5 0 9 2 9 0 5 2 7 7 2 6 1,960 Depository institutions 17,5 2 1 1,4 7 3 3,3 6 7 8 6 6 1,2 0 9 3,4 8 8 1,8 1 7 1,3 2 2 5 0 1 2 7 0 5 2 5 7 2 5 1,956 U.S. Treasury, general account 5,5 2 8 0 5,5 2 8 0 0 0 0 0 0 0 0 0 0 Foreign official 9 0 1 6 1 2 3 1 1 3 3 0 1 1 0 4 Other 2 6 0 1 1 6 5 3 0 8 2 - 1 9 1 7 1 9 1 0 0 Deferred availability cash items 5,9 2 6 4 1 1 5 6 5 2 6 4 5 4 4 2 7 6 6 0 3 2 8 2 1 2 4 4 5 5 5 3 6 2 8 8 1,577 Other liabilities and accrued dividends2 4,7 2 7 2 3 9 1,5 9 2 2 1 6 2 2 7 4 4 2 4 0 6 4 3 4 1 7 7 1 2 4 1 6 2 2 2 9 479 Total liabilities 826,6 7 0 38,1 3 0 320,0 7 8 35,2 3 6 34,3 9 7 67,4 3 0 70,4 4 5 65,8 6 5 25,3 0 2 16,6 0 6 25,7 4 2 34,2 7 0 93,167 Capital Capital paid in 14,9 7 5 3 8 2 3,6 7 4 1,7 4 4 1,0 2 4 4,0 1 4 1,0 6 9 9 0 8 1 5 5 2 4 3 1 7 4 2 0 9 1,377 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 2,0 2 6 9 6 3 3 4 1 4 2 5 0 7 9 8 2 4 2 1 0 5 3 1 1 6 1 3 8 3 118 Total liabilities and capital 856,5 7 2 38,9 2 5 327,7 7 1 37,8 6 6 36,4 8 5 75,5 5 0 72,6 4 8 67,7 5 4 25,6 3 2 17,1 1 1 26,1 0 4 34,7 1 5 96,012 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 Jul 5, 2006 Federal Reserve notes outstanding 929,257 Less: Notes held by F.R. Banks not subject to collateralization 165,725 Federal Reserve notes to be collateralized 763,532 Collateral held against Federal Reserve notes 763,532 Gold certificate account 11,037 Special drawing rights certificate account 2,200 U.S. Treasury and agency securities pledged1 750,295 Other assets pledged 0 Memo: Total U.S. Treasury and agency securities1 794,635 Less: face value of securities under reverse repurchase agreements 29,126 U.S. Treasury and agency securities eligible to be pledged 765,509 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.