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 December 21, 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 Dec 20, 2006 Dec 13, 2006 Dec 21, 2005 Dec 20, 2006 Reserve Bank credit 845,210 + 7,603 + 28,034 850,162 Securities held outright 776,930 + 1,516 + 32,734 777,638 U.S. Treasury1 776,930 + 1,516 + 32,734 777,638 Bills2 277,019 0 + 5,749 277,019 Notes and bonds, nominal2 465,798 + 1,557 + 16,203 466,522 Notes and bonds, inflation-indexed2 30,105 0 + 10,122 30,105 Inflation compensation3 4,008 - 42 + 661 3,993 Federal agency2 0 0 0 0 Repurchase agreements4 28,929 + 6,465 - 3,035 33,500 Loans to depository institutions 192 - 36 - 245 90 Primary credit 107 - 40 - 258 5 Secondary credit 0 0 0 0 Seasonal credit 85 + 4 + 13 85 Float 896 - 631 - 913 347 Other Federal Reserve assets 38,263 + 290 - 507 38,587 Gold stock 11,041 0 0 11,041 Special drawing rights certificate account 2,200 0 0 2,200 Treasury currency outstanding5 38,231 + 14 + 1,691 38,231 Total factors supplying reserve funds 896,681 + 7,617 + 29,724 901,634 Currency in circulation5 808,690 + 2,433 + 24,877 813,096 Reverse repurchase agreements6 29,541 + 1,459 + 2,704 29,903 Foreign official and international accounts 29,541 + 1,459 + 2,704 29,903 Dealers 0 0 0 0 Treasury cash holdings 204 + 24 + 5 227 Deposits with F.R. Banks, other than reserve balances 13,428 + 1,319 - 1,281 12,806 U.S. Treasury, general account 6,066 + 1,326 + 664 5,436 Foreign official 95 + 4 - 44 89 Service-related 7,022 + 7 - 1,797 7,022 Required clearing balances 7,015 0 - 1,788 7,015 Adjustments to compensate for float 7 + 7 - 9 7 Other 245 - 19 - 104 258 Other liabilities and capital 36,426 - 13 + 3,421 36,394 Total factors, other than reserve balances, absorbing reserve funds 888,290 + 5,223 + 29,727 892,424 Reserve balances with Federal Reserve Banks 8,391 + 2,393 - 3 9,210 Memo (off-balance-sheet items): Marketable securities held in custody for foreign official and international accounts2,7 1,742,102 + 11,828 + 227,824 1,744,957 U.S. Treasury 1,156,599 - 4,599 + 54,894 1,155,171 Federal agency 585,502 + 16,426 + 172,929 589,787 Securities lent to dealers 963 - 2,183 - 4,292 684 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 Dec 20, 2006 Dec 13, 2006 Dec 21, 2005 Assets Gold certificate account 11,037 0 0 Special drawing rights certificate account 2,200 0 0 Coin 821 - 6 + 117 Securities, repurchase agreements, and loans 811,229 + 13,439 + 21,954 Securities held outright 777,638 + 2,035 + 33,438 U.S. Treasury1 777,638 + 2,035 + 33,438 Bills2 277,019 0 + 5,749 Notes and bonds, nominal2 466,522 + 2,077 + 16,927 Notes and bonds, inflation-indexed2 30,105 0 + 10,122 Inflation compensation3 3,993 - 42 + 642 Federal agency2 0 0 0 Repurchase agreements4 33,500 + 12,250 - 11,500 Loans 90 - 846 + 15 Items in process of collection (1,953) 4,814 - 2,771 - 4,303 Bank premises 1,931 + 10 + 75 Other assets5 36,913 + 469 + 71 Total assets (1,953) 868,944 + 11,140 + 17,914 Liabilities Federal Reserve notes, net of F.R. Bank holdings 775,909 + 4,614 + 22,940 Reverse repurchase agreements6 29,903 + 1,601 + 3,141 Deposits (0) 22,272 + 5,063 - 9,789 Depository institutions 16,489 + 4,131 - 9,916 U.S. Treasury, general account 5,436 + 936 + 146 Foreign official 89 - 2 + 3 Other (0) 258 - 2 - 22 Deferred availability cash items (1,953) 4,467 - 412 - 2,636 Other liabilities and accrued dividends7 5,949 - 62 + 1,595 Total liabilities (1,953) 838,499 + 10,803 + 15,250 Capital accounts Capital paid in 15,326 + 12 + 1,790 Surplus 10,554 0 - 1,075 Other capital accounts 4,565 + 325 + 1,948 Total capital 30,445 + 337 + 2,664 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, December 20, 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 90 58,550 + 7,066 0 0 33,500 29,903 16 days to 90 days 0 161,869 - 6,826 0 0 0 0 91 days to 1 year 0 186,198 - 243 0 0 . . . . . . Over 1 year to 5 years . . . 222,856 + 1,315 0 0 . . . . . . Over 5 years to 10 years . . . 67,659 - 9 0 0 . . . . . . Over 10 years . . . 80,505 + 732 0 0 . . . . . . All 90 777,638 + 2,035 0 0 33,500 29,903 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 December 20, 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 8 2 1 2 4 5 1 5 7 7 9 7 9 9 8 9 9 4 0 3 0 6 3 8 2 120 Securities, repurchase agreements, and loans 811,2 2 9 37,1 1 7 321,3 2 5 33,7 6 5 33,5 7 8 64,5 9 8 65,1 0 9 71,4 3 7 24,7 0 8 15,8 2 8 22,7 8 8 34,8 9 9 86,077 Securities held outright 777,6 3 8 37,1 0 8 287,8 2 5 33,7 6 2 33,5 7 8 64,5 9 8 65,1 0 1 71,4 0 3 24,7 0 7 15,8 0 9 22,7 7 1 34,8 9 9 86,077 U.S. Treasury1 777,6 3 8 37,1 0 8 287,8 2 5 33,7 6 2 33,5 7 8 64,5 9 8 65,1 0 1 71,4 0 3 24,7 0 7 15,8 0 9 22,7 7 1 34,8 9 9 86,077 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 500,6 2 0 23,8 8 9 185,2 9 3 21,7 3 5 21,6 1 7 41,5 8 7 41,9 1 0 45,9 6 7 15,9 0 6 10,1 7 7 14,6 5 9 22,4 6 7 55,414 Federal agency2 0 0 0 0 0 0 0 0 0 0 0 0 0 Repurchase agreements4 33,5 0 0 0 33,5 0 0 0 0 0 0 0 0 0 0 0 0 Loans 9 0 9 0 3 0 0 8 3 4 1 1 9 1 7 0 0 Items in process of collection 6,7 6 7 3 1 6 1 2 0 7 6 3 7 0 7 5 6 4 7 9 6 2 6 5 1 4 5 1 6 3 6 5 2 5 3 0 1,745 Bank premises 1,9 3 1 1 1 7 2 1 2 5 8 1 5 7 1 6 7 2 3 1 2 0 8 7 9 1 1 6 1 4 7 2 5 9 180 Other assets5 36,9 1 3 1,2 3 8 12,0 2 1 1,8 7 4 2,2 9 6 7,0 4 0 2,7 2 8 2,7 7 2 7 5 2 7 1 0 7 3 1 9 6 1 3,790 Interdistrict settlement account 0 + 7 1 -22,4 3 3 + 6 3 4 - 2,6 9 9 + 3,6 0 9 +10,8 6 2 - 4,1 8 1 + 1,7 2 3 - 1 7 0 + 4,4 5 2 + 2,8 3 8 + 5,295 Total assets 870,8 9 7 39,4 8 4 316,3 0 9 37,6 9 6 34,6 6 9 77,0 5 8 81,0 1 4 71,7 5 9 27,8 4 4 16,9 1 8 29,2 2 3 40,2 4 2 98,682 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 December 20, 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 959,5 8 2 39,1 6 4 342,7 7 3 38,7 9 2 36,5 2 2 75,3 3 5 97,9 5 2 80,0 3 1 29,1 4 5 17,4 9 9 30,6 4 8 56,8 2 6 114,894 Less: notes held by F.R. Banks 183,6 7 3 3,4 5 3 57,9 9 7 7,5 3 9 7,1 8 6 12,2 4 5 24,6 5 7 15,1 4 7 3,4 1 5 2,6 8 5 4,0 9 5 19,7 2 9 25,525 Federal Reserve notes, net 775,9 0 9 35,7 1 1 284,7 7 6 31,2 5 3 29,3 3 6 63,0 9 0 73,2 9 6 64,8 8 5 25,7 3 0 14,8 1 5 26,5 5 3 37,0 9 6 89,369 Reverse repurchase agreements1 29,9 0 3 1,4 2 7 11,0 6 8 1,2 9 8 1,2 9 1 2,4 8 4 2,5 0 3 2,7 4 6 9 5 0 6 0 8 8 7 6 1,3 4 2 3,310 Deposits 22,2 7 2 8 1 7 11,1 6 1 4 9 1 1,0 2 3 1,9 7 5 1,3 9 1 1,3 4 2 4 6 5 4 4 1 7 2 9 6 8 9 1,748 Depository institutions 16,4 8 9 8 1 5 5,4 8 9 4 8 8 1,0 1 8 1,8 9 3 1,3 8 8 1,3 3 7 4 5 8 4 4 0 7 2 8 6 8 8 1,746 U.S. Treasury, general account 5,4 3 6 0 5,4 3 6 0 0 0 0 0 0 0 0 0 0 Foreign official 8 9 1 6 0 2 3 1 1 3 3 0 1 1 0 4 Other 2 5 8 0 1 7 6 0 1 7 1 0 2 7 0 1 0 -2 Deferred availability cash items 6,4 2 0 4 3 7 1 5 3 1,0 6 5 5 3 1 6 6 8 7 2 8 4 6 4 1 3 1 3 3 7 5 0 9 3 7 7 1,019 Other liabilities and accrued dividends2 5,9 4 9 2 7 5 1,9 4 5 3 0 2 2 9 7 6 5 4 4 9 8 5 4 1 2 1 9 1 5 6 1 9 1 2 8 8 583 Total liabilities 840,4 5 2 38,6 6 7 309,1 0 4 34,4 1 0 32,4 7 7 68,8 7 1 78,4 1 6 69,9 7 7 27,4 9 6 16,3 5 6 28,8 5 8 39,7 9 2 96,029 Capital Capital paid in 15,3 2 6 3 9 6 3,7 2 7 1,8 1 0 1,0 8 7 4,0 9 5 1,2 7 6 8 5 8 1 6 6 2 7 6 1 7 6 2 1 1 1,246 Surplus 10,5 5 4 3 0 9 1,6 0 4 7 2 3 9 9 6 3,2 3 8 8 7 2 8 3 8 1 2 4 2 3 5 1 6 6 1 2 1 1,328 Other capital 4,5 6 5 1 1 2 1,8 7 3 7 5 2 1 1 0 8 5 4 4 4 9 8 7 5 8 5 1 2 4 1 1 8 78 Total liabilities and capital 870,8 9 7 39,4 8 4 316,3 0 9 37,6 9 6 34,6 6 9 77,0 5 8 81,0 1 4 71,7 5 9 27,8 4 4 16,9 1 8 29,2 2 3 40,2 4 2 98,682 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 Dec 20, 2006 Federal Reserve notes outstanding 959,582 Less: Notes held by F.R. Banks not subject to collateralization 183,673 Federal Reserve notes to be collateralized 775,909 Collateral held against Federal Reserve notes 775,909 Gold certificate account 11,037 Special drawing rights certificate account 2,200 U.S. Treasury and agency securities pledged1 762,672 Other assets pledged 0 Memo: Total U.S. Treasury and agency securities1 811,138 Less: face value of securities under reverse repurchase agreements 29,975 U.S. Treasury and agency securities eligible to be pledged 781,163 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.