FEDERAL RESERVE Statistical Release H.4.1 Factors Affecting Reserve Balances of Depository Institutions and Condition Statement of Federal Reserve Banks June 1, 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 31, 2006 May 24, 2006 Jun 1, 2005 May 31, 2006 Federal Reserve Banks Reserve Bank Credit 826,970 + 4,139 + 34,496 833,645 Securities held outright 762,401 + 1,952 + 37,836 762,411 U.S. Treasury (1) 762,401 + 1,952 + 37,836 762,411 Bills (2) 275,370 0 + 10,605 275,370 Notes and bonds, nominal (2) 460,850 + 1,918 + 22,772 460,850 Notes and bonds, inflation-indexed (2) 22,646 0 + 3,538 22,646 Inflation compensation (3) 3,535 + 34 + 921 3,545 Federal agency (2) 0 0 0 0 Repurchase agreements(4) 26,429 + 3,572 - 3,285 30,750 Loans to depository institutions 195 + 21 + 39 207 Primary credit 23 + 2 + 12 20 Secondary credit 0 0 0 0 Seasonal credit 172 + 20 + 27 187 Float -1,520 - 1,734 - 516 1,030 Other Federal Reserve assets 39,465 + 328 + 423 39,248 Gold stock 11,041 0 - 1 11,041 Special drawing rights certificate account 2,200 0 0 2,200 Treasury currency outstanding (5) 37,991 + 14 + 1,446 37,991 Total factors supplying reserve funds 878,202 + 4,153 + 35,942 884,877 Currency in circulation(5) 798,199 + 4,348 + 37,753 799,113 Reverse repurchase agreements (6) 23,584 + 366 - 1,541 24,603 Foreign official and international accounts 23,584 + 366 - 1,541 24,603 Dealers 0 0 0 0 Treasury cash holdings 188 + 3 - 89 196 Deposits with F.R.Banks, other than reserve balances 12,790 - 428 - 1,355 10,545 U.S. Treasury, general account 4,870 - 606 - 57 2,637 Foreign official 88 0 + 4 86 Service-related 7,580 + 215 - 1,271 7,580 Required clearing balances 7,580 + 215 - 1,271 7,580 Adjustments to compensate for float 0 0 0 0 Other 253 - 35 - 31 242 Other liabilities and capital 34,002 + 496 + 4,705 34,508 Total factors, other than reserve balances, absorbing reserve funds 868,764 + 4,787 + 39,474 868,964 Reserve balances with Federal Reserve Banks 9,438 - 633 - 3,532 15,913 Memo (off-balance-sheet items): Marketable securities held in custody for foreign official and international accounts(2,7) 1,614,555 - 2,011 + 188,258 1,619,796 U.S. Treasury 1,114,648 - 2,452 + 29,669 1,115,371 Federal agency 499,907 + 442 + 158,589 504,425 Securities lent to dealers 2,876 + 1,540 - 1,564 4,426 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 31, 2006 May 24, 2006 Jun 1, 2005 Assets Gold certificate account 11,037 0 0 Special drawing rights certificate account 2,200 0 0 Coin 716 - 27 + 114 Securities, repurchase agreements, and loans 793,368 + 8,311 + 36,298 Securities held outright 762,411 + 33 + 36,985 U.S. Treasury (1) 762,411 + 33 + 36,985 Bills (2) 275,370 0 + 10,355 Notes and bonds, nominal (2) 460,850 0 + 22,172 Notes and bonds, inflation-indexed (2) 22,646 0 + 3,538 Inflation compensation (3) 3,545 + 32 + 920 Federal agency (2) 0 0 0 Repurchase agreements (4) 30,750 + 8,250 - 750 Loans 207 + 28 + 63 Items in process of collection (1,974) 8,412 + 3,002 - 1,103 Bank premises 1,837 + 1 + 20 Other assets (5) 37,314 + 60 + 288 Total assets (1,974) 854,883 + 11,346 + 35,615 Liabilities Federal Reserve notes net of FR Bank holdings 762,030 + 2,750 + 35,565 Reverse repurchase agreements (6) 24,603 + 1,800 - 129 Deposits (0) 26,360 + 3,480 - 4,605 Depository institutions 23,395 + 6,041 - 3,136 U.S. Treasury, general account 2,637 - 2,551 - 1,402 Foreign official 86 + 1 + 6 Other (0) 242 - 10 - 72 Deferred availability cash items (1,974) 7,383 + 1,956 - 1,021 Other liabilities and accrued dividends (7) 4,888 - 1 + 1,480 Total liabilities (1,974) 825,264 + 9,985 + 31,291 Capital Accounts Capital paid in 14,956 + 1,090 + 2,062 Surplus 12,901 0 + 1,537 Other capital accounts 1,762 + 271 + 725 Total capital 29,619 + 1,361 + 4,324 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 31, 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 171 58,534 - 7,306 0 0 30,750 24,603 16 days to 90 days 36 164,445 + 1,166 0 0 0 0 91 days to 1 year 0 188,284 + 6,537 0 0 ------ ------ Over 1 to 5 years ------ 213,268 - 384 0 0 ------ ------ Over 5 to 10 years ------ 59,600 + 5 0 0 ------ ------ Over 10 years ------ 78,280 + 15 0 0 ------ ------ All 207 762,411 + 33 0 0 30,750 24,603 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 31, 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 716 34 53 33 71 60 82 78 36 33 58 65 115 Securities, repurchase agreements, and loans 793,368 36,391 312,939 33,102 32,921 63,334 63,834 70,086 24,251 15,540 22,347 34,217 84,407 Securities held outright 762,411 36,381 282,189 33,101 32,921 63,334 63,827 70,004 24,223 15,499 22,325 34,216 84,391 U.S. Treasury (1) 762,411 36,381 282,189 33,101 32,921 63,334 63,827 70,004 24,223 15,499 22,325 34,216 84,391 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) 487,041 23,241 180,267 21,145 21,030 40,459 40,774 44,720 15,474 9,901 14,262 21,858 53,911 Federal agency (2) 0 0 0 0 0 0 0 0 0 0 0 0 0 Repurchase agreements(4) 30,750 0 30,750 0 0 0 0 0 0 0 0 0 0 Loans 207 10 0 1 0 0 7 82 28 40 22 1 16 Items in process of collection 10,386 852 979 427 842 746 1,484 620 405 372 753 938 1,969 Bank premises 1,837 113 205 57 156 154 230 208 70 118 100 260 166 Other assets(5) 37,314 1,155 13,432 1,875 2,213 6,871 2,611 2,619 696 674 679 884 3,604 Interdistrict settlement account 0 - 1,524 - 4,921 + 2,146 - 301 + 3,410 + 2,338 - 6,203 - 237 + 53 + 1,894 - 2,014 + 5,360 Total Assets 856,858 37,622 327,699 38,186 36,452 75,574 71,768 68,567 25,619 17,030 26,220 35,024 97,097 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 31, 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 924,207 38,265 344,465 39,538 36,788 73,756 87,491 74,850 27,552 17,393 27,366 49,124 107,618 Less: notes held by F.R. Banks 162,177 4,103 47,349 6,716 5,471 12,265 23,582 13,432 3,977 2,304 3,687 17,756 21,536 Federal Reserve notes, net 762,030 34,163 297,116 32,821 31,317 61,491 63,910 61,418 23,575 15,089 23,678 31,368 86,082 Reverse repurchase agreements (1) 24,603 1,174 9,106 1,068 1,062 2,044 2,060 2,259 782 500 720 1,104 2,723 Deposits 26,360 652 11,314 673 1,007 2,669 2,053 2,071 580 336 687 904 3,414 Depository institutions 23,395 650 8,455 653 1,004 2,586 2,063 2,068 578 335 685 909 3,410 U.S. Treasury, general account 2,637 0 2,637 0 0 0 0 0 0 0 0 0 0 Foreign official 86 1 57 2 3 11 3 3 0 1 1 0 4 Other 242 1 166 19 0 72 -13 0 1 0 1 -6 0 Deferred availability cash items 9,358 657 893 849 752 739 1,145 508 186 480 614 980 1,555 Other liabilities and accrued dividends (2) 4,888 239 1,610 254 244 530 413 435 177 124 156 223 485 Total liabilities 827,238 36,885 320,040 35,665 34,382 67,472 69,581 66,691 25,299 16,530 25,855 34,579 94,259 Capital Capital paid in 14,956 382 3,671 1,744 1,023 4,012 1,064 902 154 243 174 209 1,379 Surplus 12,901 317 3,685 744 1,013 3,307 892 876 144 245 175 153 1,349 Other capital 1,762 38 304 32 33 783 230 98 22 13 16 83 110 Total liabilities and capital 856,858 37,622 327,699 38,186 36,452 75,574 71,768 68,567 25,619 17,030 26,220 35,024 97,097 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 31, 2006 Federal Reserve notes outstanding 924,207 Less: Notes held by F.R. Banks not subject to collateralization 162,177 Federal Reserve Notes to be collateralized 762,030 Collateral held against Federal Reserve notes 762,030 Gold certificate account 11,037 Special drawing rights certificate account 2,200 U.S. Treasury and agency securities pledged (1) 748,793 Other assets pledged 0 Memo: Total U.S. Treasury and agency securities (1) 793,161 Less:face value of securities under reverse repurchase agreements 24,633 U.S. Treasury and agency securities eligible to be pledged 768,528 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.