FEDERAL RESERVE Statistical Release H.4.1 Factors Affecting Reserve Balances of Depository Institutions and Condition Statement of Federal Reserve Banks September 21, 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 Sep 20, 2006 Sep 13, 2006 Sep 21, 2005 Sep 20, 2006 Federal Reserve Banks Reserve Bank Credit 828,940 + 2,444 + 28,528 823,499 Securities held outright 768,887 + 1,596 + 35,524 768,895 U.S. Treasury (1) 768,887 + 1,596 + 35,524 768,895 Bills (2) 277,019 0 + 9,113 277,019 Notes and bonds, nominal (2) 461,791 + 1,575 + 19,198 461,791 Notes and bonds, inflation-indexed (2) 26,019 0 + 6,036 26,019 Inflation compensation (3) 4,059 + 21 + 1,179 4,067 Federal agency (2) 0 0 0 0 Repurchase agreements(4) 19,429 + 1,179 - 8,185 15,000 Loans to depository institutions 355 - 229 + 33 363 Primary credit 11 - 233 + 10 11 Secondary credit 0 0 0 0 Seasonal credit 345 + 5 + 24 352 Float 842 - 411 + 843 -384 Other Federal Reserve assets 39,428 + 311 + 314 39,625 Gold stock 11,041 0 0 11,041 Special drawing rights certificate account 2,200 0 0 2,200 Treasury currency outstanding (5) 38,124 + 14 + 1,695 38,124 Total factors supplying reserve funds 880,305 + 2,459 + 30,223 874,863 Currency in circulation(5) 792,564 - 3,637 + 25,487 792,802 Reverse repurchase agreements (6) 27,497 + 408 + 2,962 28,499 Foreign official and international accounts 27,497 + 408 + 2,962 28,499 Dealers 0 0 0 0 Treasury cash holdings 165 - 11 - 87 160 Deposits with F.R.Banks, other than reserve balances 13,466 + 1,572 - 1,412 12,547 U.S. Treasury, general account 6,113 + 1,364 - 206 5,216 Foreign official 89 - 6 + 7 85 Service-related 6,970 + 182 - 1,267 6,970 Required clearing balances 6,970 + 182 - 1,267 6,970 Adjustments to compensate for float 0 0 0 0 Other 294 + 32 + 54 276 Other liabilities and capital 35,939 + 95 + 4,958 35,666 Total factors, other than reserve balances, absorbing reserve funds 869,631 - 1,571 + 31,907 869,673 Reserve balances with Federal Reserve Banks 10,673 + 4,029 - 1,685 5,190 Memo (off-balance-sheet items): Marketable securities held in custody for foreign official and international accounts(2,7) 1,673,439 - 8,691 + 217,099 1,668,440 U.S. Treasury 1,132,483 - 15,166 + 50,391 1,127,801 Federal agency 540,956 + 6,475 + 166,708 540,639 Securities lent to dealers 531 - 3,365 - 5,005 0 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 Sep 20, 2006 Sep 13, 2006 Sep 21, 2005 Assets Gold certificate account 11,037 0 0 Special drawing rights certificate account 2,200 0 0 Coin 837 + 28 + 137 Securities, repurchase agreements, and loans 784,258 - 2,639 + 30,290 Securities held outright 768,895 + 21 + 35,507 U.S. Treasury (1) 768,895 + 21 + 35,507 Bills (2) 277,019 0 + 9,097 Notes and bonds, nominal (2) 461,791 0 + 19,198 Notes and bonds, inflation-indexed (2) 26,019 0 + 6,036 Inflation compensation (3) 4,067 + 21 + 1,178 Federal agency (2) 0 0 0 Repurchase agreements (4) 15,000 - 1,000 - 5,250 Loans 363 - 1,660 + 33 Items in process of collection (1,164) 4,317 - 421 - 3,611 Bank premises 1,888 + 2 + 49 Other assets (5) 37,655 + 344 + 60 Total assets (1,164) 842,191 - 2,687 + 26,925 Liabilities Federal Reserve notes net of FR Bank holdings 755,670 - 2,872 + 23,776 Reverse repurchase agreements (6) 28,499 + 1,576 + 4,508 Deposits (0) 17,655 - 1,507 - 4,054 Depository institutions 12,077 - 2,035 - 3,590 U.S. Treasury, general account 5,216 + 526 - 502 Foreign official 85 - 8 + 2 Other (0) 276 + 10 + 36 Deferred availability cash items (1,164) 4,701 - 4 - 2,193 Other liabilities and accrued dividends (7) 5,445 - 19 + 1,700 Total liabilities (1,164) 811,970 - 2,825 + 23,737 Capital Accounts Capital paid in 15,057 - 11 + 1,755 Surplus 12,901 0 + 1,271 Other capital accounts 2,262 + 148 + 160 Total capital 30,220 + 137 + 3,186 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, September 20, 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 346 60,426 + 6,355 0 0 15,000 28,499 16 days to 90 days 17 165,469 - 7,057 0 0 0 0 91 days to 1 year 0 186,566 + 703 0 0 ------ ------ Over 1 to 5 years ------ 214,621 + 6 0 0 ------ ------ Over 5 to 10 years ------ 60,272 + 3 0 0 ------ ------ Over 10 years ------ 81,540 + 9 0 0 ------ ------ All 363 768,895 + 21 0 0 15,000 28,499 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 September 20, 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 837 25 51 50 77 78 110 104 42 31 62 79 128 Securities, repurchase agreements, and loans 784,258 36,700 299,589 33,382 33,201 63,873 64,384 70,702 24,485 15,741 22,572 34,513 85,115 Securities held outright 768,895 36,690 284,589 33,382 33,201 63,872 64,369 70,600 24,429 15,631 22,515 34,507 85,109 U.S. Treasury (1) 768,895 36,690 284,589 33,382 33,201 63,872 64,369 70,600 24,429 15,631 22,515 34,507 85,109 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) 491,876 23,472 182,057 21,355 21,239 40,860 41,178 45,164 15,628 10,000 14,403 22,075 54,446 Federal agency (2) 0 0 0 0 0 0 0 0 0 0 0 0 0 Repurchase agreements(4) 15,000 0 15,000 0 0 0 0 0 0 0 0 0 0 Loans 363 10 0 0 0 1 14 103 56 110 58 6 5 Items in process of collection 5,481 253 78 1,305 474 357 442 107 198 266 609 363 1,029 Bank premises 1,888 113 208 57 157 160 231 208 72 117 129 259 177 Other assets(5) 37,655 1,188 13,623 1,812 2,225 6,831 2,627 2,664 726 685 701 922 3,651 Interdistrict settlement account 0 - 1,414 + 6,274 + 15 - 1,013 + 2,015 + 7,282 -10,325 - 714 - 535 + 1,044 - 2,953 + 324 Total Assets 843,355 37,466 324,836 37,167 35,671 74,315 76,265 64,619 25,209 16,546 25,508 33,855 91,899 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 September 20, 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 932,908 38,064 348,125 39,119 37,020 74,127 94,478 73,419 27,125 17,223 27,360 49,867 106,982 Less: notes held by F.R. Banks 177,238 4,062 50,907 7,760 6,491 13,320 25,476 14,892 4,035 2,476 4,250 19,024 24,545 Federal Reserve notes, net 755,670 34,001 297,217 31,360 30,529 60,807 69,002 58,527 23,090 14,747 23,110 30,842 82,436 Reverse repurchase agreements (1) 28,499 1,360 10,548 1,237 1,231 2,367 2,386 2,617 905 579 835 1,279 3,155 Deposits 17,655 662 7,483 453 791 1,993 1,571 916 484 250 469 689 1,894 Depository institutions 12,077 660 2,038 450 785 1,917 1,566 913 454 249 468 688 1,890 U.S. Treasury, general account 5,216 0 5,216 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 276 1 173 0 3 65 2 0 30 0 1 0 0 Deferred availability cash items 5,865 383 108 948 573 522 618 287 192 326 550 337 1,022 Other liabilities and accrued dividends (2) 5,445 265 1,834 261 264 535 462 495 197 142 177 257 557 Total liabilities 813,134 36,671 317,191 34,258 33,388 66,224 74,040 62,842 24,868 16,044 25,141 33,404 89,064 Capital Capital paid in 15,057 383 3,691 1,749 1,128 4,019 1,084 842 158 244 173 211 1,376 Surplus 12,901 317 3,685 744 1,013 3,307 892 876 144 245 175 153 1,349 Other capital 2,262 96 270 415 142 764 248 60 39 13 19 87 110 Total liabilities and capital 843,355 37,466 324,836 37,167 35,671 74,315 76,265 64,619 25,209 16,546 25,508 33,855 91,899 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 Sep 20, 2006 Federal Reserve notes outstanding 932,908 Less: Notes held by F.R. Banks not subject to collateralization 177,238 Federal Reserve Notes to be collateralized 755,670 Collateral held against Federal Reserve notes 755,670 Gold certificate account 11,037 Special drawing rights certificate account 2,200 U.S. Treasury and agency securities pledged (1) 742,433 Other assets pledged 0 Memo: Total U.S. Treasury and agency securities (1) 783,895 Less:face value of securities under reverse repurchase agreements 28,539 U.S. Treasury and agency securities eligible to be pledged 755,356 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.