FEDERAL RESERVE Statistical Release H.4.1 Factors Affecting Reserve Balances of Depository Institutions and Condition Statement of Federal Reserve Banks May 25, 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 24, 2006 May 17, 2006 May 25, 2005 May 24, 2006 Federal Reserve Banks Reserve Bank Credit 822,842 - 1,833 + 36,247 824,241 Securities held outright 760,449 + 272 + 38,261 762,378 U.S. Treasury (1) 760,449 + 272 + 38,261 762,378 Bills (2) 275,370 0 + 11,017 275,370 Notes and bonds, nominal (2) 458,932 + 239 + 22,778 460,850 Notes and bonds, inflation-indexed (2) 22,646 0 + 3,538 22,646 Inflation compensation (3) 3,501 + 33 + 928 3,513 Federal agency (2) 0 0 0 0 Repurchase agreements(4) 22,857 - 893 - 3,500 22,500 Loans to depository institutions 174 + 6 + 24 179 Primary credit 21 + 1 + 13 18 Secondary credit 0 0 0 0 Seasonal credit 152 + 3 + 10 161 Float 225 + 473 + 1,011 -27 Other Federal Reserve assets 39,137 - 1,691 + 452 39,210 Gold stock 11,041 0 0 11,041 Special drawing rights certificate account 2,200 0 0 2,200 Treasury currency outstanding (5) 37,977 + 14 + 1,432 37,977 Total factors supplying reserve funds 874,060 - 1,819 + 37,679 875,459 Currency in circulation(5) 793,851 - 129 + 39,585 796,331 Reverse repurchase agreements (6) 23,218 - 439 - 2,562 22,803 Foreign official and international accounts 23,218 - 439 - 2,562 22,803 Dealers 0 0 0 0 Treasury cash holdings 185 + 4 - 77 187 Deposits with F.R.Banks, other than reserve balances 13,218 + 248 - 426 12,891 U.S. Treasury, general account 5,476 + 284 + 540 5,188 Foreign official 88 - 17 + 6 85 Service-related 7,365 - 1 - 975 7,366 Required clearing balances 7,365 - 1 - 975 7,366 Adjustments to compensate for float 0 0 0 0 Other 288 - 20 + 2 252 Other liabilities and capital 33,506 - 391 + 4,528 33,148 Total factors, other than reserve balances, absorbing reserve funds 863,977 - 709 + 41,049 865,359 Reserve balances with Federal Reserve Banks 10,082 - 1,112 - 3,371 10,100 Memo (off-balance-sheet items): Marketable securities held in custody for foreign official and international accounts(2,7) 1,616,566 - 7,849 + 205,723 1,612,233 U.S. Treasury 1,117,100 - 7,954 + 36,781 1,112,531 Federal agency 499,465 + 104 + 168,941 499,702 Securities lent to dealers 1,336 - 264 - 2,088 1,228 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 24, 2006 May 17, 2006 May 25, 2005 Assets Gold certificate account 11,037 0 0 Special drawing rights certificate account 2,200 0 0 Coin 743 - 24 + 110 Securities, repurchase agreements, and loans 785,057 + 3,728 + 30,916 Securities held outright 762,378 + 2,727 + 39,386 U.S. Treasury (1) 762,378 + 2,727 + 39,386 Bills (2) 275,370 0 + 10,855 Notes and bonds, nominal (2) 460,850 + 2,695 + 24,069 Notes and bonds, inflation-indexed (2) 22,646 0 + 3,538 Inflation compensation (3) 3,513 + 33 + 926 Federal agency (2) 0 0 0 Repurchase agreements (4) 22,500 + 1,000 - 8,500 Loans 179 + 1 + 30 Items in process of collection (1,716) 5,410 - 1,864 + 200 Bank premises 1,836 0 + 18 Other assets (5) 37,254 + 329 + 233 Total assets (1,716) 843,537 + 2,169 + 31,477 Liabilities Federal Reserve notes net of FR Bank holdings 759,280 + 1,311 + 37,536 Reverse repurchase agreements (6) 22,803 + 234 - 2,383 Deposits (0) 22,880 + 1,122 - 6,877 Depository institutions 17,354 + 1,041 - 6,527 U.S. Treasury, general account 5,188 + 133 - 330 Foreign official 85 0 + 6 Other (0) 252 - 52 - 26 Deferred availability cash items (1,716) 5,427 - 597 - 907 Other liabilities and accrued dividends (7) 4,889 + 149 + 1,465 Total liabilities (1,716) 815,279 + 2,220 + 28,834 Capital Accounts Capital paid in 13,866 + 7 + 1,007 Surplus 12,901 0 + 1,484 Other capital accounts 1,491 - 58 + 151 Total capital 28,258 - 51 + 2,643 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 24, 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 164 65,840 + 1,386 0 0 22,500 22,803 16 days to 90 days 15 163,279 - 788 0 0 0 0 91 days to 1 year 0 181,747 + 780 0 0 ------ ------ Over 1 to 5 years ------ 213,652 + 1,228 0 0 ------ ------ Over 5 to 10 years ------ 59,595 + 4,198 0 0 ------ ------ Over 10 years ------ 78,265 - 4,077 0 0 ------ ------ All 179 762,378 + 2,727 0 0 22,500 22,803 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 24, 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 743 35 51 36 75 63 83 81 38 36 60 65 121 Securities, repurchase agreements, and loans 785,057 36,389 304,677 33,099 32,919 63,335 63,835 70,071 24,237 15,533 22,345 34,215 84,400 Securities held outright 762,378 36,379 282,177 33,099 32,919 63,331 63,824 70,001 24,222 15,499 22,324 34,215 84,388 U.S. Treasury (1) 762,378 36,379 282,177 33,099 32,919 63,331 63,824 70,001 24,222 15,499 22,324 34,215 84,388 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) 487,009 23,239 180,255 21,144 21,029 40,456 40,771 44,717 15,473 9,901 14,261 21,856 53,907 Federal agency (2) 0 0 0 0 0 0 0 0 0 0 0 0 0 Repurchase agreements(4) 22,500 0 22,500 0 0 0 0 0 0 0 0 0 0 Loans 179 10 0 0 0 5 12 69 15 35 21 1 12 Items in process of collection 7,126 493 586 461 796 455 910 407 251 317 608 661 1,180 Bank premises 1,836 113 206 56 157 153 231 209 70 118 100 258 166 Other assets(5) 37,254 1,157 13,410 1,873 2,209 6,839 2,599 2,619 698 674 681 890 3,605 Interdistrict settlement account 0 - 1,369 + 594 + 765 - 645 + 3,239 + 2,714 - 6,857 - 415 - 195 + 1,600 - 2,602 + 3,170 Total Assets 845,253 37,419 324,537 36,835 36,060 75,084 71,563 67,690 25,278 16,725 25,784 34,161 94,118 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 24, 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 922,069 38,302 342,035 39,597 36,827 73,846 87,320 74,932 27,493 17,407 27,390 49,191 107,727 Less: notes held by F.R. Banks 162,789 4,324 45,662 6,801 5,876 12,526 23,251 13,520 4,127 2,407 3,877 18,080 22,338 Federal Reserve notes, net 759,280 33,978 296,374 32,797 30,952 61,320 64,068 61,412 23,366 15,000 23,513 31,111 85,389 Reverse repurchase agreements (1) 22,803 1,088 8,440 990 985 1,894 1,909 2,094 724 464 668 1,023 2,524 Deposits 22,880 966 9,769 729 1,030 2,736 2,114 1,543 550 289 560 688 1,905 Depository institutions 17,354 964 4,357 727 1,026 2,647 2,111 1,540 547 288 559 688 1,901 U.S. Treasury, general account 5,188 0 5,188 0 0 0 0 0 0 0 0 0 0 Foreign official 85 1 56 2 3 11 3 3 0 1 1 0 4 Other 252 1 167 0 1 79 0 0 2 0 1 0 0 Deferred availability cash items 7,143 476 771 575 805 583 891 343 152 350 521 671 1,006 Other liabilities and accrued dividends (2) 4,889 239 1,606 252 241 525 413 446 175 125 155 224 488 Total liabilities 816,995 36,747 316,960 35,343 34,012 67,059 69,394 65,837 24,967 16,228 25,418 33,718 91,312 Capital Capital paid in 13,866 324 3,670 729 1,017 4,010 1,063 902 149 242 174 209 1,378 Surplus 12,901 317 3,685 744 1,013 3,307 892 876 144 245 175 153 1,349 Other capital 1,491 31 222 19 18 708 214 75 18 9 17 81 79 Total liabilities and capital 845,253 37,419 324,537 36,835 36,060 75,084 71,563 67,690 25,278 16,725 25,784 34,161 94,118 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 24, 2006 Federal Reserve notes outstanding 922,069 Less: Notes held by F.R. Banks not subject to collateralization 162,789 Federal Reserve Notes to be collateralized 759,280 Collateral held against Federal Reserve notes 759,280 Gold certificate account 11,037 Special drawing rights certificate account 2,200 U.S. Treasury and agency securities pledged (1) 746,043 Other assets pledged 0 Memo: Total U.S. Treasury and agency securities (1) 784,878 Less:face value of securities under reverse repurchase agreements 22,829 U.S. Treasury and agency securities eligible to be pledged 762,049 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.