FEDERAL RESERVE Statistical Release H.4.1 Factors Affecting Reserve Balances of Depository Institutions and Condition Statement of Federal Reserve Banks May 11, 2006 1. Factors Affecting Reserve Balances of Depository Institutions Millions of dollars Averages of daily figures Reserve Bank credit, related items, and Week ended Change from week ended Wednesday reserve balances of depository institutions at May 10, 2006 May 3, 2006 May 11, 2005 May 10, 2006 Federal Reserve Banks Reserve Bank Credit 824,690 + 1,629 + 41,447 821,796 Securities held outright 759,725 + 31 + 39,128 759,737 U.S. Treasury (1) 759,725 + 31 + 39,128 759,737 Bills (2) 275,370 0 + 11,292 275,370 Notes and bonds, nominal (2) 458,273 0 + 23,359 458,273 Notes and bonds, inflation-indexed (2) 22,646 0 + 3,538 22,646 Inflation compensation (3) 3,436 + 32 + 939 3,448 Federal agency (2) 0 0 0 0 Repurchase agreements(4) 23,500 - 1,571 + 2,464 20,500 Loans to depository institutions 174 + 36 + 40 385 Primary credit 40 + 15 + 32 248 Secondary credit 0 0 0 0 Seasonal credit 134 + 21 + 8 137 Float -301 + 2,748 + 356 -769 Other Federal Reserve assets 41,592 + 385 - 542 41,943 Gold stock 11,041 0 0 11,041 Special drawing rights certificate account 2,200 0 0 2,200 Treasury currency outstanding (5) 37,949 + 14 + 1,404 37,949 Total factors supplying reserve funds 875,880 + 1,643 + 42,851 872,986 Currency in circulation(5) 793,733 + 1,943 + 39,217 795,458 Reverse repurchase agreements (6) 25,976 + 1,605 + 827 24,535 Foreign official and international accounts 25,976 + 1,605 + 827 24,535 Dealers 0 0 0 0 Treasury cash holdings 178 - 3 - 76 180 Deposits with F.R.Banks, other than reserve balances 12,243 - 210 - 2,234 12,009 U.S. Treasury, general account 5,151 - 215 + 158 4,931 Foreign official 97 - 1 - 26 85 Service-related 6,696 - 1 - 2,328 6,696 Required clearing balances 6,696 - 1 - 2,328 6,696 Adjustments to compensate for float 0 0 0 0 Other 299 + 6 - 37 296 Other liabilities and capital 33,779 + 59 + 4,866 33,428 Total factors, other than reserve balances, absorbing reserve funds 865,908 + 3,392 + 42,599 865,610 Reserve balances with Federal Reserve Banks 9,972 - 1,749 + 252 7,376 Memo (off-balance-sheet items): Marketable securities held in custody for foreign official and international accounts(2,7) 1,621,006 + 9,161 + 221,646 1,623,092 U.S. Treasury 1,124,753 + 5,668 + 50,944 1,125,085 Federal agency 496,253 + 3,493 + 170,702 498,007 Securities lent to dealers 1,008 - 663 - 675 1,438 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. 2. Consolidated Statement of Condition of All Federal Reserve Banks Millions of Dollars Eliminations Change Since from Wednesday Wednesday Wednesday Assets, liabilities, and capital consolidation May 10, 2006 May 3, 2006 May 11, 2005 Assets Gold certificate account 11,037 0 0 Special drawing rights certificate account 2,200 0 0 Coin 781 - 22 + 106 Securities, repurchase agreements, and loans 780,622 - 4,968 + 32,918 Securities held outright 759,737 + 33 + 38,172 U.S. Treasury (1) 759,737 + 33 + 38,172 Bills (2) 275,370 0 + 11,107 Notes and bonds, nominal (2) 458,273 0 + 22,590 Notes and bonds, inflation-indexed (2) 22,646 0 + 3,538 Inflation compensation (3) 3,448 + 33 + 937 Federal agency (2) 0 0 0 Repurchase agreements (4) 20,500 - 5,250 - 5,500 Loans 385 + 250 + 247 Items in process of collection (1,246) 5,052 - 1,310 - 1,548 Bank premises 1,836 + 1 + 22 Other assets (5) 40,018 + 832 - 182 Total assets (1,246) 841,546 - 5,468 + 31,316 Liabilities Federal Reserve notes net of FR Bank holdings 758,466 + 1,251 + 38,142 Reverse repurchase agreements (6) 24,535 + 57 - 773 Deposits (0) 19,297 - 5,752 - 10,119 Depository institutions 13,984 - 5,424 - 10,041 U.S. Treasury, general account 4,931 - 284 - 67 Foreign official 85 - 31 + 6 Other (0) 296 - 14 - 19 Deferred availability cash items (1,246) 5,820 - 1,289 - 735 Other liabilities and accrued dividends (7) 4,686 + 40 + 1,352 Total liabilities (1,246) 812,804 - 5,692 + 27,867 Capital Accounts Capital paid in 13,848 + 23 + 1,077 Surplus 12,901 0 + 1,489 Other capital accounts 1,992 + 200 + 882 Total capital 28,742 + 224 + 3,449 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 securites. 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, May 10, 2006 Millions of dollars U.S. Treasury Federal agency Reverse Maturity Loans securities (1) securities Repurchase repurchase Weekly Weekly agreements(2)agreements(2) Holdings changes Holdings changes Within 15 days 270 66,774 + 1,068 0 0 20,500 24,535 16 days to 90 days 115 164,927 - 199 0 0 0 0 91 days to 1 year 0 176,385 - 866 0 0 ------ ------ Over 1 to 5 years ------ 216,226 + 10 0 0 ------ ------ Over 5 to 10 years ------ 55,392 + 5 0 0 ------ ------ Over 10 years ------ 80,033 + 15 0 0 ------ ------ All 385 759,737 + 33 0 0 20,500 24,535 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. 4. Statement of Condition of Each Federal Reserve Bank on May 10, 2006 Millions of dollars Kansas San Assets, liabilities, and capital Total Boston New York Philadelphia Cleveland Richmond Atlanta Chicago St. Louis Minneapolis City Dallas Francisco Assets Gold certificate account 11,037 486 4,139 463 446 853 1,023 947 328 211 324 575 1,242 Special drawing rights certificate acct. 2,200 115 874 83 104 147 166 212 71 30 66 98 234 Coin 781 38 54 40 79 65 82 91 40 38 62 68 124 Securities, repurchase agreements, and loans 780,622 36,258 301,897 32,985 32,805 63,111 63,610 69,824 24,150 15,475 22,261 34,097 84,148 Securities held outright 759,737 36,253 281,199 32,985 32,805 63,111 63,603 69,759 24,138 15,445 22,247 34,096 84,095 U.S. Treasury (1) 759,737 36,253 281,199 32,985 32,805 63,111 63,603 69,759 24,138 15,445 22,247 34,096 84,095 Bills (2) 275,370 13,140 101,922 11,955 11,890 22,875 23,053 25,284 8,749 5,598 8,063 12,358 30,481 Notes and bonds(3) 484,367 23,113 179,277 21,029 20,915 40,236 40,550 44,475 15,389 9,847 14,183 21,738 53,615 Federal agency (2) 0 0 0 0 0 0 0 0 0 0 0 0 0 Repurchase agreements(4) 20,500 0 20,500 0 0 0 0 0 0 0 0 0 0 Loans 385 5 198 0 0 0 7 65 12 30 14 1 53 Items in process of collection 6,298 489 260 568 780 404 731 316 215 246 532 508 1,249 Bank premises 1,836 113 205 55 156 153 231 209 69 118 101 258 166 Other assets(5) 40,018 1,287 14,418 1,898 2,344 7,124 2,861 2,871 808 736 759 1,006 3,905 Interdistrict settlement account 0 - 1,409 - 1,464 + 175 - 346 + 2,329 + 3,297 - 6,049 - 226 + 20 + 1,806 - 2,037 + 3,906 Total Assets 842,792 37,377 320,384 36,268 36,368 74,187 72,001 68,420 25,455 16,873 25,911 34,573 94,974 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. 4. Statement of Condition of Each Federal Reserve Bank on May 10, 2006 Millions of dollars Kansas San Assets, liabilities, and capital Total Boston New York Philadelphia Cleveland Richmond Atlanta Chicago St. Louis Minneapolis City Dallas Francisco Liabilities Federal Reserve notes outstanding 918,617 38,447 338,433 39,413 36,863 73,950 86,617 75,375 27,548 17,487 27,448 49,145 107,890 Less: notes held by F.R. Banks 160,151 4,448 44,381 6,957 5,769 12,492 22,499 13,313 4,075 2,392 3,981 17,676 22,167 Federal Reserve notes, net 758,466 33,999 294,052 32,456 31,094 61,458 64,119 62,062 23,473 15,095 23,467 31,469 85,723 Reverse repurchase agreements (1) 24,535 1,171 9,081 1,065 1,059 2,038 2,054 2,253 780 499 718 1,101 2,716 Deposits 19,297 773 7,280 439 1,240 1,410 2,411 1,439 536 320 636 703 2,110 Depository institutions 13,984 770 2,134 437 1,236 1,270 2,408 1,436 535 316 635 702 2,106 U.S. Treasury, general account 4,931 0 4,931 0 0 0 0 0 0 0 0 0 0 Foreign official 85 1 57 2 3 11 3 3 0 1 1 0 4 Other 296 2 158 0 1 129 0 0 1 3 1 0 0 Deferred availability cash items 7,067 516 706 564 657 619 827 367 169 330 560 630 1,121 Other liabilities and accrued dividends (2) 4,686 230 1,548 221 233 499 398 426 169 124 155 215 468 Total liabilities 814,050 36,688 312,667 34,745 34,283 66,024 69,808 66,547 25,127 16,367 25,537 34,118 92,138 Capital Capital paid in 13,848 324 3,670 729 1,015 4,007 1,060 899 149 242 174 209 1,371 Surplus 12,901 317 3,685 744 1,013 3,307 892 876 144 245 175 153 1,349 Other capital 1,992 48 362 49 57 850 240 98 35 19 25 94 116 Total liabilities and capital 842,792 37,377 320,384 36,268 36,368 74,187 72,001 68,420 25,455 16,873 25,911 34,573 94,974 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 Federal Reserve notes and collateral Wednesday May 10, 2006 Federal Reserve notes outstanding 918,617 Less: Notes held by F.R. Banks not subject to collateralization 160,151 Federal Reserve Notes to be collateralized 758,466 Collateral held against Federal Reserve notes 758,466 Gold certificate account 11,037 Special drawing rights certificate account 2,200 U.S. Treasury and agency securities pledged (1) 745,229 Other assets pledged 0 Memo: Total U.S. Treasury and agency securities (1) 780,237 Less:face value of securities under reverse repurchase agreements 24,565 U.S. Treasury and agency securities eligible to be pledged 755,672 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.