FEDERAL RESERVE Statistical Release H.4.1 Factors Affecting Reserve Balances of Depository Institutions and Condition Statement of Federal Reserve Banks July 20, 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 Jul 19, 2006 Jul 12, 2006 Jul 20, 2005 Jul 19, 2006 Federal Reserve Banks Reserve Bank Credit 830,710 + 865 + 34,444 834,432 Securities held outright 765,788 - 616 + 41,079 764,731 U.S. Treasury (1) 765,788 - 616 + 41,079 764,731 Bills (2) 275,841 + 471 + 10,826 277,019 Notes and bonds, nominal (2) 462,214 - 2,366 + 24,840 459,061 Notes and bonds, inflation-indexed (2) 23,876 + 1,230 + 4,343 24,783 Inflation compensation (3) 3,857 + 49 + 1,070 3,869 Federal agency (2) 0 0 0 0 Repurchase agreements(4) 24,286 + 3,143 - 7,357 29,000 Loans to depository institutions 328 + 29 - 39 343 Primary credit 16 + 5 - 112 23 Secondary credit 0 0 0 0 Seasonal credit 313 + 24 + 74 321 Float -625 - 1,606 - 78 -326 Other Federal Reserve assets 40,933 - 86 + 838 40,683 Gold stock 11,041 0 0 11,041 Special drawing rights certificate account 2,200 0 0 2,200 Treasury currency outstanding (5) 38,090 + 14 + 1,568 38,090 Total factors supplying reserve funds 882,040 + 878 + 36,010 885,762 Currency in circulation(5) 794,655 - 3,711 + 32,310 794,639 Reverse repurchase agreements (6) 29,439 + 1,120 + 2,808 29,587 Foreign official and international accounts 29,439 + 1,120 + 2,808 29,587 Dealers 0 0 0 0 Treasury cash holdings 162 - 5 - 74 160 Deposits with F.R.Banks, other than reserve balances 12,513 - 236 - 2,339 12,870 U.S. Treasury, general account 4,915 - 271 - 508 5,272 Foreign official 90 - 5 - 29 88 Service-related 7,216 - 1 - 1,788 7,216 Required clearing balances 7,216 - 1 - 1,788 7,216 Adjustments to compensate for float 0 0 0 0 Other 292 + 41 - 15 294 Other liabilities and capital 34,808 - 411 + 4,938 34,368 Total factors, other than reserve balances, absorbing reserve funds 871,577 - 3,244 + 37,642 871,625 Reserve balances with Federal Reserve Banks 10,463 + 4,122 - 1,631 14,137 Memo (off-balance-sheet items): Marketable securities held in custody for foreign official and international accounts(2,7) 1,633,534 + 979 + 187,503 1,636,295 U.S. Treasury 1,111,987 - 1,304 + 19,901 1,111,052 Federal agency 521,546 + 2,282 + 167,601 525,243 Securities lent to dealers 1,621 - 1,379 + 392 2,214 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 Jul 19, 2006 Jul 12, 2006 Jul 20, 2005 Assets Gold certificate account 11,037 0 0 Special drawing rights certificate account 2,200 0 0 Coin 736 + 25 + 116 Securities, repurchase agreements, and loans 794,075 + 6,555 + 34,628 Securities held outright 764,731 - 1,683 + 40,024 U.S. Treasury (1) 764,731 - 1,683 + 40,024 Bills (2) 277,019 + 1,649 + 12,004 Notes and bonds, nominal (2) 459,061 - 5,519 + 21,687 Notes and bonds, inflation-indexed (2) 24,783 + 2,137 + 5,250 Inflation compensation (3) 3,869 + 50 + 1,084 Federal agency (2) 0 0 0 Repurchase agreements (4) 29,000 + 8,250 - 4,750 Loans 343 - 12 - 647 Items in process of collection (1,103) 4,928 - 631 - 478 Bank premises 1,860 + 2 + 38 Other assets (5) 38,610 - 391 + 318 Total assets (1,103) 853,445 + 5,559 + 34,622 Liabilities Federal Reserve notes net of FR Bank holdings 757,441 - 3,211 + 30,627 Reverse repurchase agreements (6) 29,587 + 1,049 + 1,391 Deposits (0) 26,795 + 8,137 - 1,110 Depository institutions 21,141 + 7,872 - 1,512 U.S. Treasury, general account 5,272 + 248 + 612 Foreign official 88 - 1 - 195 Other (0) 294 + 17 - 15 Deferred availability cash items (1,103) 5,254 - 218 - 1,087 Other liabilities and accrued dividends (7) 4,816 + 27 + 1,565 Total liabilities (1,103) 823,893 + 5,783 + 31,386 Capital Accounts Capital paid in 14,986 + 9 + 1,601 Surplus 12,901 0 + 1,417 Other capital accounts 1,665 - 233 + 217 Total capital 29,552 - 224 + 3,236 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, July 19, 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 323 62,077 + 3,616 0 0 29,000 29,587 16 days to 90 days 20 170,021 - 4,796 0 0 0 0 91 days to 1 year 0 174,965 - 1,712 0 0 ------ ------ Over 1 to 5 years ------ 217,908 + 576 0 0 ------ ------ Over 5 to 10 years ------ 61,341 + 619 0 0 ------ ------ Over 10 years ------ 78,419 + 13 0 0 ------ ------ All 343 764,731 - 1,683 0 0 29,000 29,587 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 July 19, 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 736 29 37 32 73 66 95 87 38 31 57 74 116 Securities, repurchase agreements, and loans 794,075 36,494 312,048 33,202 33,021 63,536 64,031 70,311 24,346 15,661 22,427 34,325 84,672 Securities held outright 764,731 36,492 283,048 33,201 33,021 63,526 64,021 70,218 24,297 15,546 22,393 34,320 84,648 U.S. Treasury (1) 764,731 36,492 283,048 33,201 33,021 63,526 64,021 70,218 24,297 15,546 22,393 34,320 84,648 Bills (2) 277,019 13,219 102,532 12,027 11,962 23,012 23,191 25,436 8,801 5,632 8,112 12,432 30,663 Notes and bonds(3) 487,713 23,273 180,516 21,174 21,059 40,514 40,830 44,782 15,495 9,915 14,281 21,888 53,985 Federal agency (2) 0 0 0 0 0 0 0 0 0 0 0 0 0 Repurchase agreements(4) 29,000 0 29,000 0 0 0 0 0 0 0 0 0 0 Loans 343 3 0 1 0 10 10 94 49 114 34 5 23 Items in process of collection 6,030 350 519 305 537 572 521 332 263 258 618 328 1,428 Bank premises 1,860 113 206 57 157 156 231 208 70 118 115 259 171 Other assets(5) 38,610 1,238 13,980 1,828 2,263 6,890 2,707 2,752 769 707 728 967 3,781 Interdistrict settlement account 0 - 96 + 481 + 1,653 - 537 + 2,176 + 3,329 - 7,619 - 482 - 224 + 1,628 - 2,183 + 1,876 Total Assets 854,548 38,729 332,284 37,622 36,065 74,396 72,103 67,230 25,402 16,792 25,963 34,443 93,520 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 July 19, 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 930,478 38,194 349,321 39,818 37,097 73,172 91,477 74,094 27,296 17,232 27,321 48,887 106,569 Less: notes held by F.R. Banks 173,037 3,687 50,882 7,701 6,341 13,569 26,785 13,782 4,037 2,268 3,773 17,760 22,452 Federal Reserve notes, net 757,441 34,506 298,440 32,117 30,755 59,603 64,692 60,312 23,260 14,963 23,548 31,128 84,117 Reverse repurchase agreements (1) 29,587 1,412 10,951 1,285 1,278 2,458 2,477 2,717 940 601 866 1,328 3,275 Deposits 26,795 1,307 13,050 817 1,276 3,266 1,658 1,570 531 284 560 682 1,793 Depository institutions 21,141 1,303 7,547 815 1,271 3,143 1,655 1,567 528 283 559 681 1,789 U.S. Treasury, general account 5,272 0 5,272 0 0 0 0 0 0 0 0 0 0 Foreign official 88 1 60 2 3 11 3 3 0 1 1 0 4 Other 294 3 172 0 2 112 0 0 3 0 1 0 0 Deferred availability cash items 6,357 472 666 511 469 611 687 316 164 320 464 630 1,045 Other liabilities and accrued dividends (2) 4,816 243 1,622 223 231 448 415 446 180 129 160 230 491 Total liabilities 824,996 37,940 324,729 34,952 34,009 66,386 69,929 65,361 25,075 16,297 25,598 33,997 90,721 Capital Capital paid in 14,986 382 3,675 1,744 1,025 4,014 1,069 916 155 243 175 210 1,377 Surplus 12,901 317 3,685 744 1,013 3,307 892 876 144 245 175 153 1,349 Other capital 1,665 90 195 182 18 688 212 76 27 7 15 82 73 Total liabilities and capital 854,548 38,729 332,284 37,622 36,065 74,396 72,103 67,230 25,402 16,792 25,963 34,443 93,520 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 Jul 19, 2006 Federal Reserve notes outstanding 930,478 Less: Notes held by F.R. Banks not subject to collateralization 173,037 Federal Reserve Notes to be collateralized 757,441 Collateral held against Federal Reserve notes 757,441 Gold certificate account 11,037 Special drawing rights certificate account 2,200 U.S. Treasury and agency securities pledged (1) 744,204 Other assets pledged 0 Memo: Total U.S. Treasury and agency securities (1) 793,731 Less:face value of securities under reverse repurchase agreements 29,630 U.S. Treasury and agency securities eligible to be pledged 764,101 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.