FEDERAL RESERVE Statistical Release H.4.1 Factors Affecting Reserve Balances of Depository Institutions and Condition Statement of Federal Reserve Banks December 14, 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 Dec 13, 2006 Dec 6, 2006 Dec 14, 2005 Dec 13, 2006 Federal Reserve Banks Reserve Bank Credit 837,607 - 4,757 + 25,985 838,600 Securities held outright 775,414 + 2,046 + 31,229 775,603 U.S. Treasury (1) 775,414 + 2,046 + 31,229 775,603 Bills (2) 277,019 0 + 5,749 277,019 Notes and bonds, nominal (2) 464,241 + 2,088 + 14,646 464,445 Notes and bonds, inflation-indexed (2) 30,105 0 + 10,122 30,105 Inflation compensation (3) 4,050 - 42 + 713 4,035 Federal agency (2) 0 0 0 0 Repurchase agreements(4) 22,464 - 7,215 - 4,715 21,250 Loans to depository institutions 228 + 45 + 147 936 Primary credit 147 + 46 + 136 853 Secondary credit 0 0 0 0 Seasonal credit 81 - 1 + 11 84 Float 1,527 + 337 - 517 2,706 Other Federal Reserve assets 37,973 + 28 - 161 38,105 Gold stock 11,041 0 0 11,041 Special drawing rights certificate account 2,200 0 0 2,200 Treasury currency outstanding (5) 38,217 + 14 + 1,677 38,217 Total factors supplying reserve funds 889,064 - 4,744 + 27,661 890,058 Currency in circulation(5) 806,257 + 629 + 26,887 808,488 Reverse repurchase agreements (6) 28,082 - 1,119 + 2,910 28,302 Foreign official and international accounts 28,082 - 1,119 + 2,910 28,302 Dealers 0 0 0 0 Treasury cash holdings 180 + 14 - 19 201 Deposits with F.R.Banks, other than reserve balances 12,109 - 192 - 2,455 11,866 U.S. Treasury, general account 4,740 - 320 - 656 4,500 Foreign official 91 0 - 8 91 Service-related 7,015 + 183 - 1,790 7,015 Required clearing balances 7,015 + 183 - 1,790 7,015 Adjustments to compensate for float 0 0 0 0 Other 264 - 55 - 1 260 Other liabilities and capital 36,439 + 101 + 3,331 36,119 Total factors, other than reserve balances, absorbing reserve funds 883,067 - 568 + 30,655 884,975 Reserve balances with Federal Reserve Banks 5,998 - 4,175 - 2,993 5,083 Memo (off-balance-sheet items): Marketable securities held in custody for foreign official and international accounts(2,7) 1,730,274 + 17,705 + 219,790 1,738,464 U.S. Treasury 1,161,198 + 12,672 + 58,148 1,162,238 Federal agency 569,076 + 5,033 + 161,643 576,225 Securities lent to dealers 3,146 + 1,114 - 674 952 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 Dec 13, 2006 Dec 6, 2006 Dec 14, 2005 Assets Gold certificate account 11,037 0 0 Special drawing rights certificate account 2,200 0 0 Coin 827 + 13 + 116 Securities, repurchase agreements, and loans 797,790 - 8,691 + 25,262 Securities held outright 775,603 + 1,388 + 31,414 U.S. Treasury (1) 775,603 + 1,388 + 31,414 Bills (2) 277,019 0 + 5,749 Notes and bonds, nominal (2) 464,445 + 1,430 + 14,850 Notes and bonds, inflation-indexed (2) 30,105 0 + 10,122 Inflation compensation (3) 4,035 - 42 + 694 Federal agency (2) 0 0 0 Repurchase agreements (4) 21,250 - 10,750 - 7,000 Loans 936 + 670 + 847 Items in process of collection (1,683) 7,585 + 158 - 943 Bank premises 1,921 - 2 + 73 Other assets (5) 36,444 + 186 - 366 Total assets (1,683) 857,804 - 8,336 + 24,143 Liabilities Federal Reserve notes net of FR Bank holdings 771,295 + 1,638 + 24,724 Reverse repurchase agreements (6) 28,302 - 737 + 1,727 Deposits (0) 17,209 - 9,250 - 4,337 Depository institutions 12,358 - 9,217 - 3,870 U.S. Treasury, general account 4,500 - 23 - 490 Foreign official 91 - 3 + 7 Other (0) 260 - 7 + 16 Deferred availability cash items (1,683) 4,879 + 47 - 1,300 Other liabilities and accrued dividends (7) 6,011 + 43 + 1,630 Total liabilities (1,683) 827,696 - 8,258 + 22,444 Capital Accounts Capital paid in 15,314 + 6 + 1,784 Surplus 10,554 0 - 1,076 Other capital accounts 4,240 - 83 + 990 Total capital 30,108 - 77 + 1,699 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, December 13, 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 866 51,484 - 821 0 0 21,250 28,302 16 days to 90 days 71 168,695 + 1,111 0 0 0 0 91 days to 1 year 0 186,441 - 292 0 0 ------ ------ Over 1 to 5 years ------ 221,541 + 1,416 0 0 ------ ------ Over 5 to 10 years ------ 67,668 - 10 0 0 ------ ------ Over 10 years ------ 79,773 - 17 0 0 ------ ------ All 936 775,603 + 1,388 0 0 21,250 28,302 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 December 13, 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 827 25 51 58 79 81 99 99 38 31 63 82 121 Securities, repurchase agreements, and loans 797,790 37,018 309,174 33,674 33,490 64,429 64,938 71,244 24,642 15,791 22,729 34,809 85,852 Securities held outright 775,603 37,011 287,072 33,673 33,490 64,429 64,931 71,216 24,642 15,768 22,711 34,808 85,852 U.S. Treasury (1) 775,603 37,011 287,072 33,673 33,490 64,429 64,931 71,216 24,642 15,768 22,711 34,808 85,852 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) 498,584 23,792 184,540 21,646 21,529 41,417 41,740 45,780 15,841 10,136 14,600 22,376 55,188 Federal agency (2) 0 0 0 0 0 0 0 0 0 0 0 0 0 Repurchase agreements(4) 21,250 0 21,250 0 0 0 0 0 0 0 0 0 0 Loans 936 7 853 0 0 0 7 28 0 23 18 1 0 Items in process of collection 9,268 330 276 900 890 444 1,210 858 183 342 1,239 490 2,107 Bank premises 1,921 116 207 58 157 166 231 207 77 116 147 259 179 Other assets(5) 36,444 1,209 11,828 1,852 2,271 7,012 2,728 2,724 732 699 714 934 3,740 Interdistrict settlement account 0 + 42 -12,435 + 397 - 3,500 + 2,706 + 8,381 - 5,619 + 797 - 466 + 3,725 + 1,794 + 4,177 Total Assets 859,487 39,342 314,115 37,484 33,938 75,838 78,777 70,673 26,869 16,753 29,006 39,039 97,653 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 December 13, 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 955,565 39,311 343,399 38,849 36,450 75,447 96,629 79,928 28,229 17,561 30,337 55,642 113,782 Less: notes held by F.R. Banks 184,270 3,501 56,712 7,654 7,368 12,523 25,503 15,655 3,405 2,792 4,240 19,611 25,307 Federal Reserve notes, net 771,295 35,810 286,687 31,194 29,082 62,924 71,126 64,274 24,824 14,770 26,097 36,030 88,475 Reverse repurchase agreements (1) 28,302 1,351 10,475 1,229 1,222 2,351 2,369 2,599 899 575 829 1,270 3,133 Deposits 17,209 669 7,891 501 650 1,253 1,579 1,076 460 270 436 636 1,788 Depository institutions 12,358 668 3,155 499 645 1,166 1,576 1,073 452 269 435 636 1,784 U.S. Treasury, general account 4,500 0 4,500 0 0 0 0 0 0 0 0 0 0 Foreign official 91 1 62 2 3 11 3 3 0 1 1 0 4 Other 260 0 174 0 1 75 0 0 8 0 1 0 0 Deferred availability cash items 6,562 418 130 991 505 480 619 414 110 421 1,083 362 1,028 Other liabilities and accrued dividends (2) 6,011 277 1,958 304 300 670 503 543 218 158 194 294 592 Total liabilities 829,379 38,525 307,141 34,219 31,759 67,678 76,196 68,906 26,511 16,195 28,639 38,593 95,017 Capital Capital paid in 15,314 396 3,726 1,809 1,086 4,091 1,275 855 166 276 176 211 1,246 Surplus 10,554 309 1,604 723 996 3,238 872 838 124 235 166 121 1,328 Other capital 4,240 112 1,643 733 97 831 434 74 67 48 25 115 62 Total liabilities and capital 859,487 39,342 314,115 37,484 33,938 75,838 78,777 70,673 26,869 16,753 29,006 39,039 97,653 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 Dec 13, 2006 Federal Reserve notes outstanding 955,565 Less: Notes held by F.R. Banks not subject to collateralization 184,270 Federal Reserve Notes to be collateralized 771,295 Collateral held against Federal Reserve notes 771,295 Gold certificate account 11,037 Special drawing rights certificate account 2,200 U.S. Treasury and agency securities pledged (1) 758,058 Other assets pledged 0 Memo: Total U.S. Treasury and agency securities (1) 796,853 Less:face value of securities under reverse repurchase agreements 28,396 U.S. Treasury and agency securities eligible to be pledged 768,457 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.