FEDERAL RESERVE Statistical Release H.4.1 Factors Affecting Reserve Balances of Depository Institutions and Condition Statement of Federal Reserve Banks January 4, 2007 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 Jan 3, 2007 Dec 27, 2006 Jan 4, 2006 Jan 3, 2007 Federal Reserve Banks Reserve Bank Credit 859,453 + 7,256 + 26,663 859,699 Securities held outright 778,916 - 35 + 35,085 778,910 U.S. Treasury (1) 778,916 - 35 + 35,085 778,910 Bills (2) 277,019 0 + 5,749 277,019 Notes and bonds, nominal (2) 467,864 0 + 18,647 467,864 Notes and bonds, inflation-indexed (2) 30,105 0 + 10,122 30,105 Inflation compensation (3) 3,928 - 36 + 568 3,922 Federal agency (2) 0 0 0 0 Repurchase agreements(4) 40,857 + 7,821 - 7,893 39,750 Loans to depository institutions 233 + 84 + 169 1,262 Primary credit 180 + 116 + 173 1,239 Secondary credit 0 0 0 0 Seasonal credit 54 - 31 - 3 23 Float -204 - 1,086 - 1,053 632 Other Federal Reserve assets 39,650 + 470 + 354 39,145 Gold stock 11,041 0 - 2 11,041 Special drawing rights certificate account 2,200 0 0 2,200 Treasury currency outstanding (5) 38,259 + 14 + 1,719 38,259 Total factors supplying reserve funds 910,953 + 7,270 + 28,381 911,198 Currency in circulation(5) 819,856 + 2,986 + 26,221 818,550 Reverse repurchase agreements (6) 29,545 - 964 - 886 29,742 Foreign official and international accounts 29,545 - 964 - 886 29,742 Dealers 0 0 0 0 Treasury cash holdings 253 + 23 + 51 263 Deposits with F.R.Banks, other than reserve balances 12,733 + 299 - 2,338 13,341 U.S. Treasury, general account 5,027 - 213 + 293 6,156 Foreign official 94 + 2 + 9 90 Service-related 6,856 + 20 - 1,794 6,856 Required clearing balances 6,842 + 6 - 1,808 6,842 Adjustments to compensate for float 14 + 14 + 14 14 Other 755 + 489 - 847 239 Other liabilities and capital 36,312 - 512 + 5,420 36,065 Total factors, other than reserve balances, absorbing reserve funds 898,698 + 1,831 + 28,467 897,962 Reserve balances with Federal Reserve Banks 12,254 + 5,438 - 87 13,237 Memo (off-balance-sheet items): Marketable securities held in custody for foreign official and international accounts(2,7) 1,763,030 + 10,928 + 239,487 1,768,586 U.S. Treasury 1,162,289 + 6,404 + 66,304 1,167,132 Federal agency 600,741 + 4,524 + 173,183 601,455 Securities lent to dealers 7,347 + 4,022 + 3,652 8,225 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 Jan 3, 2007 Dec 27, 2006 Jan 4, 2006 Assets Gold certificate account 11,037 0 - 2 Special drawing rights certificate account 2,200 0 0 Coin 797 - 3 + 114 Securities, repurchase agreements, and loans 819,921 + 4,495 + 30,514 Securities held outright 778,910 - 28 + 36,040 U.S. Treasury (1) 778,910 - 28 + 36,040 Bills (2) 277,019 0 + 5,749 Notes and bonds, nominal (2) 467,864 0 + 19,590 Notes and bonds, inflation-indexed (2) 30,105 0 + 10,122 Inflation compensation (3) 3,922 - 29 + 580 Federal agency (2) 0 0 0 Repurchase agreements (4) 39,750 + 3,750 - 6,750 Loans 1,262 + 774 + 1,225 Items in process of collection (1,260) 5,472 + 335 - 6,341 Bank premises 1,945 + 1 + 125 Other assets (5) 37,152 - 197 - 452 Total assets (1,260) 878,524 + 4,630 + 23,958 Liabilities Federal Reserve notes net of FR Bank holdings 781,347 - 1,386 + 24,813 Reverse repurchase agreements (6) 29,742 - 2,384 + 2,175 Deposits (0) 26,529 + 8,938 - 3,574 Depository institutions 20,044 + 7,272 - 5,791 U.S. Treasury, general account 6,156 + 1,686 + 2,234 Foreign official 90 - 2 + 9 Other (0) 239 - 19 - 26 Deferred availability cash items (1,260) 4,840 + 113 - 4,561 Other liabilities and accrued dividends (7) 5,461 - 526 + 1,551 Total liabilities (1,260) 847,920 + 4,757 + 20,405 Capital Accounts Capital paid in 15,328 0 + 1,786 Surplus 15,029 + 4,475 + 2,124 Other capital accounts 248 - 4,600 - 356 Total capital 30,604 - 127 + 3,553 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, January 3, 2007 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 1,247 51,356 - 6,201 0 0 39,750 29,742 16 days to 90 days 15 170,177 + 6,715 0 0 0 0 91 days to 1 year 0 184,284 - 1,311 0 0 ------ ------ Over 1 to 5 years ------ 224,972 + 787 0 0 ------ ------ Over 5 to 10 years ------ 67,644 - 6 0 0 ------ ------ Over 10 years ------ 80,477 - 12 0 0 ------ ------ All 1,262 778,910 - 28 0 0 39,750 29,742 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 January 3, 2007 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 797 29 49 52 73 80 91 101 38 31 61 79 114 Securities, repurchase agreements, and loans 819,921 37,174 329,260 33,819 33,633 64,704 65,210 71,548 24,747 15,838 22,813 34,957 86,218 Securities held outright 778,910 37,168 288,296 33,817 33,633 64,704 65,208 71,519 24,747 15,835 22,808 34,957 86,218 U.S. Treasury (1) 778,910 37,168 288,296 33,817 33,633 64,704 65,208 71,519 24,747 15,835 22,808 34,957 86,218 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) 501,891 23,949 185,763 21,790 21,671 41,692 42,017 46,084 15,946 10,203 14,696 22,524 55,554 Federal agency (2) 0 0 0 0 0 0 0 0 0 0 0 0 0 Repurchase agreements(4) 39,750 0 39,750 0 0 0 0 0 0 0 0 0 0 Loans 1,262 6 1,214 2 0 0 3 28 0 3 5 0 0 Items in process of collection 6,733 308 94 1,139 736 445 846 523 216 330 643 504 951 Bank premises 1,945 117 211 58 157 168 232 206 79 116 159 260 182 Other assets(5) 37,152 1,249 12,115 1,882 2,302 7,054 2,769 2,794 759 715 736 966 3,811 Interdistrict settlement account 0 + 201 -27,105 + 289 - 2,573 + 3,381 +11,054 - 3,496 + 2,004 + 169 + 4,750 + 3,385 + 7,940 Total Assets 879,784 39,679 319,636 37,785 34,878 76,831 81,391 72,834 28,243 17,440 29,552 40,822 100,692 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 January 3, 2007 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 958,508 39,146 342,403 38,700 36,389 75,180 97,519 80,199 29,199 17,465 30,784 56,783 114,740 Less: notes held by F.R. Banks 177,161 3,210 57,193 7,158 6,724 11,493 24,247 14,337 3,142 2,556 3,758 19,345 23,996 Federal Reserve notes, net 781,347 35,936 285,210 31,542 29,665 63,687 73,272 65,862 26,057 14,909 27,026 37,438 90,744 Reverse repurchase agreements (1) 29,742 1,419 11,008 1,291 1,284 2,471 2,490 2,731 945 605 871 1,335 3,292 Deposits 26,529 817 13,919 733 1,013 1,369 1,913 1,532 520 748 580 786 2,598 Depository institutions 20,044 808 7,546 730 1,009 1,294 1,911 1,529 514 747 578 785 2,594 U.S. Treasury, general account 6,156 0 6,156 0 0 0 0 0 0 0 0 0 0 Foreign official 90 1 62 2 3 11 3 3 0 1 1 0 4 Other 239 8 155 1 1 65 0 0 6 1 2 0 0 Deferred availability cash items 6,100 440 125 647 468 560 678 467 165 480 534 547 989 Other liabilities and accrued dividends (2) 5,461 262 1,814 247 267 537 467 504 215 143 183 282 542 Total liabilities 849,180 38,875 312,075 34,460 32,697 68,624 78,820 71,096 27,903 16,885 29,193 40,387 98,166 Capital Capital paid in 15,328 396 3,725 1,810 1,087 4,093 1,275 859 166 276 176 212 1,252 Surplus 15,029 396 3,727 1,514 1,087 4,093 1,276 858 166 276 176 212 1,247 Other capital 248 12 109 0 8 20 20 22 8 4 6 12 27 Total liabilities and capital 879,784 39,679 319,636 37,785 34,878 76,831 81,391 72,834 28,243 17,440 29,552 40,822 100,692 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 Jan 3, 2007 Federal Reserve notes outstanding 958,508 Less: Notes held by F.R. Banks not subject to collateralization 177,161 Federal Reserve Notes to be collateralized 781,347 Collateral held against Federal Reserve notes 781,347 Gold certificate account 11,037 Special drawing rights certificate account 2,200 U.S. Treasury and agency securities pledged (1) 768,111 Other assets pledged 0 Memo: Total U.S. Treasury and agency securities (1) 818,660 Less:face value of securities under reverse repurchase agreements 29,787 U.S. Treasury and agency securities eligible to be pledged 788,873 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.