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 27, 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 26, 2006 Jul 19, 2006 Jul 27, 2005 Jul 26, 2006 Reserve Bank credit 825,902 - 4,807 + 32,620 826,238 Securities held outright 764,752 - 1,036 + 40,048 764,763 U.S. Treasury1 764,752 - 1,036 + 40,048 764,763 Bills2 277,019 + 1,178 + 12,004 277,019 Notes and bonds, nominal2 459,061 - 3,153 + 21,687 459,061 Notes and bonds, inflation-indexed2 24,783 + 907 + 5,250 24,783 Inflation compensation3 3,889 + 32 + 1,107 3,900 Federal agency2 0 0 0 0 Repurchase agreements4 20,536 - 3,750 - 8,107 21,000 Loans to depository institutions 350 + 22 + 6 371 Primary credit 15 - 1 + 4 25 Secondary credit 0 0 - 67 0 Seasonal credit 334 + 21 + 68 346 Float -807 - 181 + 5 -1,091 Other Federal Reserve assets 41,072 + 139 + 669 41,195 Gold stock 11,041 0 0 11,041 Special drawing rights certificate account 2,200 0 0 2,200 Treasury currency outstanding5 38,104 + 14 + 1,628 38,104 Total factors supplying reserve funds 877,247 - 4,793 + 34,249 877,583 Currency in circulation5 792,766 - 1,889 + 31,948 793,849 Reverse repurchase agreements6 29,161 - 278 + 1,166 28,468 Foreign official and international accounts 29,161 - 278 + 1,166 28,468 Dealers 0 0 0 0 Treasury cash holdings 158 - 4 - 86 148 Deposits with F.R. Banks, other than reserve balances 12,450 - 63 - 1,516 12,274 U.S. Treasury, general account 5,017 + 102 + 139 4,824 Foreign official 103 + 13 - 8 140 Service-related 7,027 - 189 - 1,649 7,027 Required clearing balances 7,027 - 189 - 1,649 7,027 Adjustments to compensate for float 0 0 0 0 Other 303 + 11 + 2 283 Other liabilities and capital 34,977 + 169 + 4,878 34,751 Total factors, other than reserve balances, absorbing reserve funds 869,513 - 2,064 + 36,392 869,490 Reserve balances with Federal Reserve Banks 7,735 - 2,727 - 2,142 8,093 Memo (off-balance-sheet items): Marketable securities held in custody for foreign official and international accounts2,7 1,644,798 + 11,264 + 190,759 1,651,103 U.S. Treasury 1,114,191 + 2,204 + 19,038 1,117,017 Federal agency 530,607 + 9,061 + 171,722 534,086 Securities lent to dealers 2,488 + 867 + 790 1,539 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 26, 2006 Jul 19, 2006 Jul 27, 2005 Assets Gold certificate account 11,037 0 0 Special drawing rights certificate account 2,200 0 0 Coin 750 + 14 + 125 Securities, repurchase agreements, and loans 786,134 - 7,941 + 29,684 Securities held outright 764,763 + 32 + 40,061 U.S. Treasury1 764,763 + 32 + 40,061 Bills2 277,019 0 + 12,004 Notes and bonds, nominal2 459,061 0 + 21,687 Notes and bonds, inflation-indexed2 24,783 0 + 5,250 Inflation compensation3 3,900 + 31 + 1,120 Federal agency2 0 0 0 Repurchase agreements4 21,000 - 8,000 - 10,000 Loans 371 + 28 - 377 Items in process of collection (960) 4,030 - 898 - 1,453 Bank premises 1,864 + 4 + 43 Other assets5 39,086 + 476 + 410 Total assets (960) 845,101 - 8,344 + 28,807 Liabilities Federal Reserve notes, net of F.R. Bank holdings 756,639 - 802 + 29,381 Reverse repurchase agreements6 28,468 - 1,119 + 1,191 Deposits (0) 20,121 - 6,674 - 5,523 Depository institutions 14,874 - 6,267 - 5,980 U.S. Treasury, general account 4,824 - 448 + 407 Foreign official 140 + 52 + 59 Other (0) 283 - 11 - 8 Deferred availability cash items (960) 5,122 - 132 - 1,075 Other liabilities and accrued dividends7 4,866 + 50 + 1,550 Total liabilities (960) 815,217 - 8,676 + 25,526 Capital accounts Capital paid in 14,993 + 7 + 1,604 Surplus 12,901 0 + 1,388 Other capital accounts 1,990 + 325 + 289 Total capital 29,884 + 332 + 3,281 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 26, 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 334 62,066 - 11 0 0 21,000 28,468 16 days to 90 days 37 169,303 - 718 0 0 0 0 91 days to 1 year 0 175,697 + 732 0 0 . . . . . . Over 1 year to 5 years . . . 217,918 + 10 0 0 . . . . . . Over 5 years to 10 years . . . 61,347 + 6 0 0 . . . . . . Over 10 years . . . 78,433 + 14 0 0 . . . . . . All 371 764,763 + 32 0 0 21,000 28,468 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 26, 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 5 0 2 8 3 6 3 2 7 2 6 8 1 0 2 9 0 3 9 3 0 5 6 7 8 118 Securities, repurchase agreements, and loans 786,1 3 4 36,4 9 8 304,0 6 0 33,2 0 3 33,0 2 2 63,5 2 9 64,0 5 0 70,3 2 2 24,3 5 8 15,6 6 4 22,4 3 0 34,3 2 7 84,671 Securities held outright 764,7 6 3 36,4 9 3 283,0 6 0 33,2 0 3 33,0 2 2 63,5 2 9 64,0 2 4 70,2 2 0 24,2 9 8 15,5 4 7 22,3 9 4 34,3 2 2 84,652 U.S. Treasury1 764,7 6 3 36,4 9 3 283,0 6 0 33,2 0 3 33,0 2 2 63,5 2 9 64,0 2 4 70,2 2 0 24,2 9 8 15,5 4 7 22,3 9 4 34,3 2 2 84,652 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 4 5 23,2 7 4 180,5 2 8 21,1 7 6 21,0 6 1 40,5 1 7 40,8 3 2 44,7 8 5 15,4 9 6 9,9 1 6 14,2 8 2 21,8 8 9 53,989 Federal agency2 0 0 0 0 0 0 0 0 0 0 0 0 0 Repurchase agreements4 21,0 0 0 0 21,0 0 0 0 0 0 0 0 0 0 0 0 0 Loans 3 7 1 5 0 0 0 0 2 7 1 0 2 6 0 1 1 7 3 6 5 19 Items in process of collection 4,9 9 0 2 6 1 3 2 5 2 8 6 4 1 6 3 3 5 5 2 9 2 2 1 1 6 9 2 3 1 6 8 5 3 6 4 1,167 Bank premises 1,8 6 4 1 1 3 2 0 7 5 7 1 5 7 1 5 6 2 3 1 2 0 8 7 0 1 1 8 1 1 5 2 5 9 173 Other assets5 39,0 8 6 1,2 5 9 14,1 6 1 1,8 5 1 2,2 9 0 6,9 3 0 2,7 6 2 2,8 0 0 7 8 2 7 1 6 7 4 2 9 8 6 3,807 Interdistrict settlement account 0 - 6 6 + 1,5 9 6 + 1,0 6 7 - 7 4 6 + 1,5 4 7 + 3,9 7 2 - 8,4 2 4 - 5 3 4 - 3 1 4 + 1,5 7 4 - 1,6 3 1 + 1,959 Total assets 846,0 6 1 38,6 9 3 325,3 9 9 37,0 4 2 35,7 6 2 73,5 6 4 72,8 3 4 66,3 7 7 25,2 8 3 16,6 8 6 25,9 9 3 35,0 5 7 93,370 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 26, 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 930,5 7 6 38,0 2 7 348,7 6 2 39,7 9 5 36,9 7 1 73,0 4 9 92,3 6 2 73,7 5 2 27,1 7 8 17,1 9 0 27,3 0 6 49,5 9 0 106,595 Less: notes held by F.R. Banks 173,9 3 7 3,6 8 1 50,6 3 2 7,8 3 2 6,3 6 5 13,7 2 9 27,1 6 4 13,9 0 0 3,9 7 9 2,3 1 4 3,8 3 1 17,7 3 1 22,779 Federal Reserve notes, net 756,6 3 9 34,3 4 6 298,1 3 0 31,9 6 3 30,6 0 5 59,3 2 0 65,1 9 7 59,8 5 3 23,1 9 9 14,8 7 5 23,4 7 5 31,8 5 9 83,816 Reverse repurchase agreements1 28,4 6 8 1,3 5 8 10,5 3 7 1,2 3 6 1,2 2 9 2,3 6 5 2,3 8 3 2,6 1 4 9 0 4 5 7 9 8 3 4 1,2 7 8 3,151 Deposits 20,1 2 1 1,5 2 4 6,9 3 6 5 1 6 9 5 2 2,8 5 4 1,9 2 8 1,4 0 8 5 3 9 2 6 7 5 0 1 6 4 3 2,053 Depository institutions 14,8 7 4 1,5 1 7 1,8 3 1 5 1 4 9 4 8 2,7 4 2 1,9 2 5 1,4 0 4 5 3 8 2 6 6 4 9 9 6 4 2 2,049 U.S. Treasury, general account 4,8 2 4 0 4,8 2 4 0 0 0 0 0 0 0 0 0 0 Foreign official 1 4 0 1 1 1 1 2 3 1 1 3 3 0 1 1 0 4 Other 2 8 3 7 1 6 9 0 1 1 0 2 0 1 1 0 1 0 0 Deferred availability cash items 6,0 8 2 4 2 5 5 2 2 4 0 0 5 6 1 4 8 2 7 0 3 2 5 4 1 3 8 3 3 2 6 5 3 5 9 6 1,016 Other liabilities and accrued dividends2 4,8 6 6 2 5 0 1,6 1 7 2 2 6 2 3 4 4 7 0 4 1 3 4 5 3 1 8 0 1 3 1 1 6 1 2 3 6 494 Total liabilities 816,1 7 7 37,9 0 3 317,7 4 2 34,3 4 2 33,5 8 2 65,4 9 1 70,6 2 5 64,5 8 1 24,9 6 1 16,1 8 4 25,6 2 4 34,6 1 1 90,531 Capital Capital paid in 14,9 9 3 3 8 2 3,6 7 5 1,7 4 4 1,1 2 2 4,0 1 4 1,0 7 3 8 2 2 1 5 3 2 4 3 1 7 4 2 1 2 1,379 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 0 9 1 2 9 7 2 1 2 4 5 7 5 2 2 4 4 9 7 2 6 1 3 2 0 8 1 112 Total liabilities and capital 846,0 6 1 38,6 9 3 325,3 9 9 37,0 4 2 35,7 6 2 73,5 6 4 72,8 3 4 66,3 7 7 25,2 8 3 16,6 8 6 25,9 9 3 35,0 5 7 93,370 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 26, 2006 Federal Reserve notes outstanding 930,576 Less: Notes held by F.R. Banks not subject to collateralization 173,937 Federal Reserve notes to be collateralized 756,639 Collateral held against Federal Reserve notes 756,639 Gold certificate account 11,037 Special drawing rights certificate account 2,200 U.S. Treasury and agency securities pledged1 743,402 Other assets pledged 0 Memo: Total U.S. Treasury and agency securities1 785,763 Less: face value of securities under reverse repurchase agreements 28,509 U.S. Treasury and agency securities eligible to be pledged 757,254 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.