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 20, 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 19, 2006 Jul 12, 2006 Jul 20, 2005 Jul 19, 2006 Reserve Bank credit 830,710 + 865 + 34,444 834,432 Securities held outright 765,788 - 616 + 41,079 764,731 U.S. Treasury1 765,788 - 616 + 41,079 764,731 Bills2 275,841 + 471 + 10,826 277,019 Notes and bonds, nominal2 462,214 - 2,366 + 24,840 459,061 Notes and bonds, inflation-indexed2 23,876 + 1,230 + 4,343 24,783 Inflation compensation3 3,857 + 49 + 1,070 3,869 Federal agency2 0 0 0 0 Repurchase agreements4 24,286 + 3,143 - 7,357 29,000 Loans to depository institutions 328 + 29 - 39 343 Primary credit 16 + 5 - 112 23 Secondary credit 0 0 0 0 Seasonal credit 313 + 24 + 74 321 Float -625 - 1,606 - 78 -326 Other Federal Reserve assets 40,933 - 86 + 838 40,683 Gold stock 11,041 0 0 11,041 Special drawing rights certificate account 2,200 0 0 2,200 Treasury currency outstanding5 38,090 + 14 + 1,568 38,090 Total factors supplying reserve funds 882,040 + 878 + 36,010 885,762 Currency in circulation5 794,655 - 3,711 + 32,310 794,639 Reverse repurchase agreements6 29,439 + 1,120 + 2,808 29,587 Foreign official and international accounts 29,439 + 1,120 + 2,808 29,587 Dealers 0 0 0 0 Treasury cash holdings 162 - 5 - 74 160 Deposits with F.R. Banks, other than reserve balances 12,513 - 236 - 2,339 12,870 U.S. Treasury, general account 4,915 - 271 - 508 5,272 Foreign official 90 - 5 - 29 88 Service-related 7,216 - 1 - 1,788 7,216 Required clearing balances 7,216 - 1 - 1,788 7,216 Adjustments to compensate for float 0 0 0 0 Other 292 + 41 - 15 294 Other liabilities and capital 34,808 - 411 + 4,938 34,368 Total factors, other than reserve balances, absorbing reserve funds 871,577 - 3,244 + 37,642 871,625 Reserve balances with Federal Reserve Banks 10,463 + 4,122 - 1,631 14,137 Memo (off-balance-sheet items): Marketable securities held in custody for foreign official and international accounts2,7 1,633,534 + 979 + 187,503 1,636,295 U.S. Treasury 1,111,987 - 1,304 + 19,901 1,111,052 Federal agency 521,546 + 2,282 + 167,601 525,243 Securities lent to dealers 1,621 - 1,379 + 392 2,214 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 19, 2006 Jul 12, 2006 Jul 20, 2005 Assets Gold certificate account 11,037 0 0 Special drawing rights certificate account 2,200 0 0 Coin 736 + 25 + 116 Securities, repurchase agreements, and loans 794,075 + 6,555 + 34,628 Securities held outright 764,731 - 1,683 + 40,024 U.S. Treasury1 764,731 - 1,683 + 40,024 Bills2 277,019 + 1,649 + 12,004 Notes and bonds, nominal2 459,061 - 5,519 + 21,687 Notes and bonds, inflation-indexed2 24,783 + 2,137 + 5,250 Inflation compensation3 3,869 + 50 + 1,084 Federal agency2 0 0 0 Repurchase agreements4 29,000 + 8,250 - 4,750 Loans 343 - 12 - 647 Items in process of collection (1,103) 4,928 - 631 - 478 Bank premises 1,860 + 2 + 38 Other assets5 38,610 - 391 + 318 Total assets (1,103) 853,445 + 5,559 + 34,622 Liabilities Federal Reserve notes, net of F.R. Bank holdings 757,441 - 3,211 + 30,627 Reverse repurchase agreements6 29,587 + 1,049 + 1,391 Deposits (0) 26,795 + 8,137 - 1,110 Depository institutions 21,141 + 7,872 - 1,512 U.S. Treasury, general account 5,272 + 248 + 612 Foreign official 88 - 1 - 195 Other (0) 294 + 17 - 15 Deferred availability cash items (1,103) 5,254 - 218 - 1,087 Other liabilities and accrued dividends7 4,816 + 27 + 1,565 Total liabilities (1,103) 823,893 + 5,783 + 31,386 Capital accounts Capital paid in 14,986 + 9 + 1,601 Surplus 12,901 0 + 1,417 Other capital accounts 1,665 - 233 + 217 Total capital 29,552 - 224 + 3,236 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 19, 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 323 62,077 + 3,616 0 0 29,000 29,587 16 days to 90 days 20 170,021 - 4,796 0 0 0 0 91 days to 1 year 0 174,965 - 1,712 0 0 . . . . . . Over 1 year to 5 years . . . 217,908 + 576 0 0 . . . . . . Over 5 years to 10 years . . . 61,341 + 619 0 0 . . . . . . Over 10 years . . . 78,419 + 13 0 0 . . . . . . All 343 764,731 - 1,683 0 0 29,000 29,587 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 19, 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 3 6 2 9 3 7 3 2 7 3 6 6 9 5 8 7 3 8 3 1 5 7 7 4 116 Securities, repurchase agreements, and loans 794,0 7 5 36,4 9 4 312,0 4 8 33,2 0 2 33,0 2 1 63,5 3 6 64,0 3 1 70,3 1 1 24,3 4 6 15,6 6 1 22,4 2 7 34,3 2 5 84,672 Securities held outright 764,7 3 1 36,4 9 2 283,0 4 8 33,2 0 1 33,0 2 1 63,5 2 6 64,0 2 1 70,2 1 8 24,2 9 7 15,5 4 6 22,3 9 3 34,3 2 0 84,648 U.S. Treasury1 764,7 3 1 36,4 9 2 283,0 4 8 33,2 0 1 33,0 2 1 63,5 2 6 64,0 2 1 70,2 1 8 24,2 9 7 15,5 4 6 22,3 9 3 34,3 2 0 84,648 Bills2 277,0 1 9 13,2 1 9 102,5 3 2 12,0 2 7 11,9 6 2 23,0 1 2 23,1 9 1 25,4 3 6 8,8 0 1 5,6 3 2 8,1 1 2 12,4 3 2 30,663 Notes and bonds3 487,7 1 3 23,2 7 3 180,5 1 6 21,1 7 4 21,0 5 9 40,5 1 4 40,8 3 0 44,7 8 2 15,4 9 5 9,9 1 5 14,2 8 1 21,8 8 8 53,985 Federal agency2 0 0 0 0 0 0 0 0 0 0 0 0 0 Repurchase agreements4 29,0 0 0 0 29,0 0 0 0 0 0 0 0 0 0 0 0 0 Loans 3 4 3 3 0 1 0 1 0 1 0 9 4 4 9 1 1 4 3 4 5 23 Items in process of collection 6,0 3 0 3 5 0 5 1 9 3 0 5 5 3 7 5 7 2 5 2 1 3 3 2 2 6 3 2 5 8 6 1 8 3 2 8 1,428 Bank premises 1,8 6 0 1 1 3 2 0 6 5 7 1 5 7 1 5 6 2 3 1 2 0 8 7 0 1 1 8 1 1 5 2 5 9 171 Other assets5 38,6 1 0 1,2 3 8 13,9 8 0 1,8 2 8 2,2 6 3 6,8 9 0 2,7 0 7 2,7 5 2 7 6 9 7 0 7 7 2 8 9 6 7 3,781 Interdistrict settlement account 0 - 9 6 + 4 8 1 + 1,6 5 3 - 5 3 7 + 2,1 7 6 + 3,3 2 9 - 7,6 1 9 - 4 8 2 - 2 2 4 + 1,6 2 8 - 2,1 8 3 + 1,876 Total assets 854,5 4 8 38,7 2 9 332,2 8 4 37,6 2 2 36,0 6 5 74,3 9 6 72,1 0 3 67,2 3 0 25,4 0 2 16,7 9 2 25,9 6 3 34,4 4 3 93,520 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 19, 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 930,4 7 8 38,1 9 4 349,3 2 1 39,8 1 8 37,0 9 7 73,1 7 2 91,4 7 7 74,0 9 4 27,2 9 6 17,2 3 2 27,3 2 1 48,8 8 7 106,569 Less: notes held by F.R. Banks 173,0 3 7 3,6 8 7 50,8 8 2 7,7 0 1 6,3 4 1 13,5 6 9 26,7 8 5 13,7 8 2 4,0 3 7 2,2 6 8 3,7 7 3 17,7 6 0 22,452 Federal Reserve notes, net 757,4 4 1 34,5 0 6 298,4 4 0 32,1 1 7 30,7 5 5 59,6 0 3 64,6 9 2 60,3 1 2 23,2 6 0 14,9 6 3 23,5 4 8 31,1 2 8 84,117 Reverse repurchase agreements1 29,5 8 7 1,4 1 2 10,9 5 1 1,2 8 5 1,2 7 8 2,4 5 8 2,4 7 7 2,7 1 7 9 4 0 6 0 1 8 6 6 1,3 2 8 3,275 Deposits 26,7 9 5 1,3 0 7 13,0 5 0 8 1 7 1,2 7 6 3,2 6 6 1,6 5 8 1,5 7 0 5 3 1 2 8 4 5 6 0 6 8 2 1,793 Depository institutions 21,1 4 1 1,3 0 3 7,5 4 7 8 1 5 1,2 7 1 3,1 4 3 1,6 5 5 1,5 6 7 5 2 8 2 8 3 5 5 9 6 8 1 1,789 U.S. Treasury, general account 5,2 7 2 0 5,2 7 2 0 0 0 0 0 0 0 0 0 0 Foreign official 8 8 1 6 0 2 3 1 1 3 3 0 1 1 0 4 Other 2 9 4 3 1 7 2 0 2 1 1 2 0 0 3 0 1 0 0 Deferred availability cash items 6,3 5 7 4 7 2 6 6 6 5 1 1 4 6 9 6 1 1 6 8 7 3 1 6 1 6 4 3 2 0 4 6 4 6 3 0 1,045 Other liabilities and accrued dividends2 4,8 1 6 2 4 3 1,6 2 2 2 2 3 2 3 1 4 4 8 4 1 5 4 4 6 1 8 0 1 2 9 1 6 0 2 3 0 491 Total liabilities 824,9 9 6 37,9 4 0 324,7 2 9 34,9 5 2 34,0 0 9 66,3 8 6 69,9 2 9 65,3 6 1 25,0 7 5 16,2 9 7 25,5 9 8 33,9 9 7 90,721 Capital Capital paid in 14,9 8 6 3 8 2 3,6 7 5 1,7 4 4 1,0 2 5 4,0 1 4 1,0 6 9 9 1 6 1 5 5 2 4 3 1 7 5 2 1 0 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 1,6 6 5 9 0 1 9 5 1 8 2 1 8 6 8 8 2 1 2 7 6 2 7 7 1 5 8 2 73 Total liabilities and capital 854,5 4 8 38,7 2 9 332,2 8 4 37,6 2 2 36,0 6 5 74,3 9 6 72,1 0 3 67,2 3 0 25,4 0 2 16,7 9 2 25,9 6 3 34,4 4 3 93,520 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 19, 2006 Federal Reserve notes outstanding 930,478 Less: Notes held by F.R. Banks not subject to collateralization 173,037 Federal Reserve notes to be collateralized 757,441 Collateral held against Federal Reserve notes 757,441 Gold certificate account 11,037 Special drawing rights certificate account 2,200 U.S. Treasury and agency securities pledged1 744,204 Other assets pledged 0 Memo: Total U.S. Treasury and agency securities1 793,731 Less: face value of securities under reverse repurchase agreements 29,630 U.S. Treasury and agency securities eligible to be pledged 764,101 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.