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 28, 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 27, 2006 Dec 20, 2006 Dec 28, 2005 Dec 27, 2006 Reserve Bank credit 852,198 + 6,988 + 25,801 855,179 Securities held outright 778,951 + 2,021 + 34,744 778,938 U.S. Treasury1 778,951 + 2,021 + 34,744 778,938 Bills2 277,019 0 + 5,749 277,019 Notes and bonds, nominal2 467,864 + 2,066 + 18,269 467,864 Notes and bonds, inflation-indexed2 30,105 0 + 10,122 30,105 Inflation compensation3 3,964 - 44 + 606 3,951 Federal agency2 0 0 0 0 Repurchase agreements4 33,036 + 4,107 - 9,143 36,000 Loans to depository institutions 149 - 43 + 24 488 Primary credit 64 - 43 + 13 407 Secondary credit 0 0 0 0 Seasonal credit 85 0 + 11 81 Float 883 - 13 + 76 411 Other Federal Reserve assets 39,180 + 917 + 100 39,342 Gold stock 11,041 0 0 11,041 Special drawing rights certificate account 2,200 0 0 2,200 Treasury currency outstanding5 38,245 + 14 + 1,705 38,245 Total factors supplying reserve funds 903,684 + 7,003 + 27,506 906,665 Currency in circulation5 816,870 + 8,180 + 24,815 819,930 Reverse repurchase agreements6 30,509 + 968 + 1,932 32,126 Foreign official and international accounts 30,509 + 968 + 1,932 32,126 Dealers 0 0 0 0 Treasury cash holdings 230 + 26 + 27 252 Deposits with F.R. Banks, other than reserve balances 12,434 - 994 - 1,466 11,656 U.S. Treasury, general account 5,240 - 826 + 387 4,470 Foreign official 92 - 3 + 8 92 Service-related 6,836 - 186 - 1,825 6,836 Required clearing balances 6,836 - 179 - 1,812 6,836 Adjustments to compensate for float 0 - 7 - 13 0 Other 266 + 21 - 37 258 Other liabilities and capital 36,824 + 398 + 4,175 36,717 Total factors, other than reserve balances, absorbing reserve funds 896,867 + 8,577 + 29,482 900,680 Reserve balances with Federal Reserve Banks 6,817 - 1,574 - 1,976 5,984 Memo (off-balance-sheet items): Marketable securities held in custody for foreign official and international accounts2,7 1,752,102 + 10,000 + 233,039 1,761,941 U.S. Treasury 1,155,885 - 714 + 56,151 1,162,198 Federal agency 596,217 + 10,715 + 176,888 599,743 Securities lent to dealers 3,325 + 2,362 + 2,029 3,141 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 27, 2006 Dec 20, 2006 Dec 28, 2005 Assets Gold certificate account 11,037 0 0 Special drawing rights certificate account 2,200 0 0 Coin 800 - 21 + 112 Securities, repurchase agreements, and loans 815,426 + 4,197 + 25,852 Securities held outright 778,938 + 1,300 + 34,728 U.S. Treasury1 778,938 + 1,300 + 34,728 Bills2 277,019 0 + 5,749 Notes and bonds, nominal2 467,864 + 1,342 + 18,269 Notes and bonds, inflation-indexed2 30,105 0 + 10,122 Inflation compensation3 3,951 - 42 + 589 Federal agency2 0 0 0 Repurchase agreements4 36,000 + 2,500 - 9,250 Loans 488 + 398 + 374 Items in process of collection (1,174) 5,137 + 323 - 2,613 Bank premises 1,944 + 13 + 118 Other assets5 37,349 + 436 + 10 Total assets (1,174) 873,894 + 4,950 + 23,480 Liabilities Federal Reserve notes, net of F.R. Bank holdings 782,733 + 6,824 + 23,487 Reverse repurchase agreements6 32,126 + 2,223 + 1,754 Deposits (0) 17,591 - 4,681 - 4,075 Depository institutions 12,772 - 3,717 - 4,290 U.S. Treasury, general account 4,470 - 966 + 227 Foreign official 92 + 3 + 7 Other (0) 258 0 - 18 Deferred availability cash items (1,174) 4,727 + 260 - 1,970 Other liabilities and accrued dividends7 5,987 + 38 + 1,568 Total liabilities (1,174) 843,163 + 4,664 + 20,763 Capital accounts Capital paid in 15,328 + 2 + 1,792 Surplus 10,554 0 - 1,076 Other capital accounts 4,848 + 283 + 1,999 Total capital 30,731 + 286 + 2,717 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 27, 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 488 57,557 - 993 0 0 36,000 32,126 16 days to 90 days 0 163,462 + 1,593 0 0 0 0 91 days to 1 year 0 185,595 - 603 0 0 . . . . . . Over 1 year to 5 years . . . 224,185 + 1,329 0 0 . . . . . . Over 5 years to 10 years . . . 67,650 - 9 0 0 . . . . . . Over 10 years . . . 80,489 - 16 0 0 . . . . . . All 488 778,938 + 1,300 0 0 36,000 32,126 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 27, 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 0 0 2 3 4 8 5 3 7 7 7 8 9 4 9 7 3 9 3 0 6 1 8 0 119 Securities, repurchase agreements, and loans 815,4 2 6 37,1 7 8 324,3 0 6 33,8 2 0 33,6 3 4 65,1 1 1 65,2 1 6 71,5 5 0 24,7 4 9 15,8 5 6 22,8 2 7 34,9 5 8 86,221 Securities held outright 778,9 3 8 37,1 7 0 288,3 0 6 33,8 1 8 33,6 3 4 64,7 0 6 65,2 1 0 71,5 2 2 24,7 4 8 15,8 3 5 22,8 0 9 34,9 5 8 86,221 U.S. Treasury1 778,9 3 8 37,1 7 0 288,3 0 6 33,8 1 8 33,6 3 4 64,7 0 6 65,2 1 0 71,5 2 2 24,7 4 8 15,8 3 5 22,8 0 9 34,9 5 8 86,221 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 501,9 2 0 23,9 5 1 185,7 7 4 21,7 9 1 21,6 7 3 41,6 9 5 42,0 1 9 46,0 8 6 15,9 4 7 10,2 0 4 14,6 9 7 22,5 2 6 55,558 Federal agency2 0 0 0 0 0 0 0 0 0 0 0 0 0 Repurchase agreements4 36,0 0 0 0 36,0 0 0 0 0 0 0 0 0 0 0 0 0 Loans 4 8 8 9 0 1 0 4 0 5 6 2 8 1 2 1 1 8 0 0 Items in process of collection 6,3 1 1 2 4 7 4 4 6 1 1 7 7 4 4 1 0 3 6 6 4 9 9 1 7 2 3 5 0 7 6 9 5 9 5 1,475 Bank premises 1,9 4 4 1 1 8 2 1 2 5 8 1 5 8 1 6 7 2 3 1 2 0 7 7 9 1 1 6 1 5 8 2 6 0 182 Other assets5 37,3 4 9 1,2 6 1 12,1 9 5 1,8 9 1 2,3 1 3 7,0 5 4 2,7 7 2 2,8 1 8 7 6 6 7 1 8 7 4 5 9 8 1 3,834 Interdistrict settlement account 0 + 3 0 5 -28,2 5 9 + 8 6 1 - 2,5 7 5 + 3,7 6 7 +12,3 7 0 - 3,5 6 8 + 2,0 9 1 - 3 2 8 + 4,6 3 6 + 3,4 3 3 + 7,268 Total assets 875,0 6 8 39,7 3 3 313,5 6 0 37,8 3 9 34,9 3 1 77,5 8 8 82,2 3 8 72,7 6 2 28,2 9 5 16,9 8 3 29,5 8 6 40,9 7 9 100,575 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 27, 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 959,2 8 7 39,1 6 9 342,4 9 8 38,7 6 3 36,4 4 5 75,2 6 7 97,7 4 6 80,0 8 1 29,2 0 5 17,4 8 3 30,8 2 1 56,9 0 1 114,907 Less: notes held by F.R. Banks 176,5 5 4 3,1 4 9 56,9 2 1 7,2 8 8 6,7 3 6 11,4 9 2 23,7 3 1 14,4 4 1 3,1 4 1 2,5 5 5 3,7 3 8 19,2 2 3 24,141 Federal Reserve notes, net 782,7 3 3 36,0 2 0 285,5 7 8 31,4 7 5 29,7 0 9 63,7 7 5 74,0 1 5 65,6 4 1 26,0 6 4 14,9 2 8 27,0 8 3 37,6 7 8 90,767 Reverse repurchase agreements1 32,1 2 6 1,5 3 3 11,8 9 1 1,3 9 5 1,3 8 7 2,6 6 9 2,6 8 9 2,9 5 0 1,0 2 1 6 5 3 9 4 1 1,4 4 2 3,556 Deposits 17,5 9 1 7 1 3 6,5 7 3 6 0 0 9 5 4 1,6 7 2 1,8 9 2 1,5 0 2 5 2 6 2 3 7 4 6 3 7 0 0 1,761 Depository institutions 12,7 7 2 7 1 0 1,8 5 8 5 9 7 9 4 9 1,5 9 9 1,8 8 9 1,4 9 9 5 1 9 2 3 6 4 6 1 6 9 9 1,757 U.S. Treasury, general account 4,4 7 0 0 4,4 7 0 0 0 0 0 0 0 0 0 0 0 Foreign official 9 2 1 6 3 2 3 1 1 3 3 0 1 1 0 4 Other 2 5 8 1 1 8 2 1 3 6 2 0 0 6 0 2 0 0 Deferred availability cash items 5,9 0 0 3 7 3 1 2 5 7 5 9 3 8 8 5 8 3 5 5 1 3 4 0 1 2 5 4 4 9 5 2 9 4 2 5 1,253 Other liabilities and accrued dividends2 5,9 8 7 2 7 6 1,9 4 1 3 0 5 2 9 6 6 8 2 4 9 5 5 4 2 2 1 6 1 5 5 2 0 2 2 9 3 584 Total liabilities 844,3 3 7 38,9 1 4 306,1 0 8 34,5 3 4 32,7 3 5 69,3 8 0 79,6 4 3 70,9 7 5 27,9 5 2 16,4 2 1 29,2 1 7 40,5 3 9 97,920 Capital Capital paid in 15,3 2 8 3 9 6 3,7 2 7 1,8 1 0 1,0 8 7 4,0 9 7 1,2 7 6 8 5 8 1 6 6 2 7 6 1 7 6 2 1 1 1,247 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 4,8 4 8 1 1 4 2,1 2 1 7 7 1 1 1 3 8 7 2 4 4 7 9 1 5 3 5 1 2 7 1 0 8 80 Total liabilities and capital 875,0 6 8 39,7 3 3 313,5 6 0 37,8 3 9 34,9 3 1 77,5 8 8 82,2 3 8 72,7 6 2 28,2 9 5 16,9 8 3 29,5 8 6 40,9 7 9 100,575 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 27, 2006 Federal Reserve notes outstanding 959,287 Less: Notes held by F.R. Banks not subject to collateralization 176,554 Federal Reserve notes to be collateralized 782,733 Collateral held against Federal Reserve notes 782,733 Gold certificate account 11,037 Special drawing rights certificate account 2,200 U.S. Treasury and agency securities pledged1 769,496 Other assets pledged 0 Memo: Total U.S. Treasury and agency securities1 814,938 Less: face value of securities under reverse repurchase agreements 32,171 U.S. Treasury and agency securities eligible to be pledged 782,767 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.