Reserve Bank credit, related items, and

reserve balances of depository institutions

at Federal Reserve Banks

Reserve Bank credit 845,210 + 7,603 + 28,034 850,162

Securities held outright 776,930 + 1,516 + 32,734 777,638

U.S. Treasury1 776,930 + 1,516 + 32,734 777,638

Bills2 277,019 0 + 5,749 277,019

Notes and bonds, nominal2 465,798 + 1,557 + 16,203 466,522

Notes and bonds, inflation-indexed2 30,105 0 + 10,122 30,105

Inflation compensation3 4,008 - 42 + 661 3,993

Federal agency2 0 0 0 0

Repurchase agreements4 28,929 + 6,465 - 3,035 33,500

Loans to depository institutions 192 - 36 - 245 90

Primary credit 107 - 40 - 258 5

Secondary credit 0 0 0 0

Seasonal credit 85 + 4 + 13 85

Float 896 - 631 - 913 347

Other Federal Reserve assets 38,263 + 290 - 507 38,587

Gold stock 11,041 0 0 11,041

Special drawing rights certificate account 2,200 0 0 2,200

Treasury currency outstanding5 38,231 + 14 + 1,691 38,231

Total factors supplying reserve funds 896,681 + 7,617 + 29,724 901,634

Currency in circulation5 808,690 + 2,433 + 24,877 813,096

Reverse repurchase agreements6 29,541 + 1,459 + 2,704 29,903

Foreign official and international accounts 29,541 + 1,459 + 2,704 29,903

Dealers 0 0 0 0

Treasury cash holdings 204 + 24 + 5 227

Deposits with F.R. Banks, other than reserve balances 13,428 + 1,319 - 1,281 12,806

U.S. Treasury, general account 6,066 + 1,326 + 664 5,436

Foreign official 95 + 4 - 44 89

Service-related 7,022 + 7 - 1,797 7,022

Required clearing balances 7,015 0 - 1,788 7,015

Adjustments to compensate for float 7 + 7 - 9 7

Other 245 - 19 - 104 258

Other liabilities and capital 36,426 - 13 + 3,421 36,394

Total factors, other than reserve balances,

absorbing reserve funds 888,290 + 5,223 + 29,727 892,424

Reserve balances with Federal Reserve Banks 8,391 + 2,393 - 3 9,210

Memo (off-balance-sheet items):

Marketable securities held in custody for foreign

 official and international accounts2,7 1,742,102 + 11,828 + 227,824 1,744,957

U.S. Treasury 1,156,599 - 4,599 + 54,894 1,155,171

Federal agency 585,502 + 16,426 + 172,929 589,787

Securities lent to dealers 963 - 2,183 - 4,292 684

FEDERAL RESERVE statistical release

 December 21, 2006

H.4.1

Factors Affecting Reserve Balances of Depository Institutions and

Condition Statement of Federal Reserve Banks

1. Factors Affecting Reserve Balances of Depository Institutions

Millions of dollars

Averages of daily figures

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.

Change from week ended Wednesday

 Dec 20, 2006 Week ended

 Dec 20, 2006 Dec 13, 2006 Dec 21, 2005
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. 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.

Assets

Gold certificate account 11,037 0 0

Special drawing rights certificate account 2,200 0 0

Coin 821 - 6 + 117

Securities, repurchase agreements, and loans 811,229 + 13,439 + 21,954

Securities held outright 777,638 + 2,035 + 33,438

U.S. Treasury1 777,638 + 2,035 + 33,438

Bills2 277,019 0 + 5,749

Notes and bonds, nominal2 466,522 + 2,077 + 16,927

Notes and bonds, inflation-indexed2 30,105 0 + 10,122

Inflation compensation3 3,993 - 42 + 642

Federal agency2 0 0 0

Repurchase agreements4 33,500 + 12,250 - 11,500

Loans 90 - 846 + 15

Items in process of collection (1,953) 4,814 - 2,771 - 4,303

Bank premises 1,931 + 10 + 75

Other assets5 36,913 + 469 + 71

Total assets (1,953) 868,944 + 11,140 + 17,914

Liabilities

Federal Reserve notes, net of F.R. Bank holdings 775,909 + 4,614 + 22,940

Reverse repurchase agreements6 29,903 + 1,601 + 3,141

Deposits (0) 22,272 + 5,063 - 9,789

Depository institutions 16,489 + 4,131 - 9,916

U.S. Treasury, general account 5,436 + 936 + 146

Foreign official 89 - 2 + 3

Other (0) 258 - 2 - 22

Deferred availability cash items (1,953) 4,467 - 412 - 2,636

Other liabilities and accrued dividends7 5,949 - 62 + 1,595

Total liabilities (1,953) 838,499 + 10,803 + 15,250

Capital accounts

Capital paid in 15,326 + 12 + 1,790

Surplus 10,554 0 - 1,075

Other capital accounts 4,565 + 325 + 1,948

Total capital 30,445 + 337 + 2,664

H.4.1

2. Consolidated Statement of Condition of All Federal Reserve Banks

Millions of dollars

Change since

Wednesday

 Dec 21, 2005

Eliminations from

consolidation Wednesday

 Dec 20, 2006

Wednesday

 Dec 13, 2006

3. Maturity Distribution of Loans and Securities, December 20, 2006

Millions of dollars

 Federal agency

securities

Weekly

changes Holdings

 U.S. Treasury

securities1

Holdings Weekly

changes

Loans Repurchase

agreements2

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.

Reverse

repurchase

agreements2

Within 15 days 90 58,550 + 7,066 0 0 33,500 29,903

16 days to 90 days 0 161,869 - 6,826 0 0 0 0

91 days to 1 year 0 186,198 - 243 0 0 . . . . . . 

Over 1 year to 5 years . . . 222,856 + 1,315 0 0 . . . . . . 

Over 5 years to 10 years . . . 67,659 - 9 0 0 . . . . . . 

Over 10 years . . . 80,505 + 732 0 0 . . . . . . 

All 90 777,638 + 2,035 0 0 33,500 29,903

Assets, liabilities, and capital

Maturity
H.4.1

4. Statement of Condition of Each Federal Reserve Bank on December 20, 2006Millions of dollars

Total Boston New York Philadelphia Cleveland Richmond Atlanta Chicago St. Louis Minneap

AssetsGold certificate accountSpecial drawing rights certificate acct.CoinSecurities, repurchase agreements,

and loans

Securities held outright

U.S. Treasury1

Bills2Notes and bonds3

Federal agency2

Repurchase agreements4

Loans

Items in process of collectionBank premisesOther assets5Interdistrict settlement account

Total assets

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 sec4. 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.

 11,037 2,200 821 811,229 777,638 777,638 277,019 500,620 0 33,500 90 6,767 1,931 36,913 0 870,897

Assets, liabilities, and capital

 4,139 874 51 321,325 287,825 287,825 102,532 185,293 0 33,500 0 120 212 12,021 -22,433 316,309

 486 115 24 37,117 37,108 37,108 13,219 23,889 0 0 9 316 117 1,238 + 71 39,484

 463 83 57 33,765 33,762 33,762 12,027 21,735 0 0 3 763 58 1,874 + 634 37,696

 446 104 79 33,578 33,578 33,578 11,962 21,617 0 0 0 707 157 2,296 - 2,699 34,669

 853 147 79 64,598 64,598 64,598 23,012 41,587 0 0 0 564 167 7,040 + 3,609 77,058

 1,023 166 98 65,109 65,101 65,101 23,191 41,910 0 0 8 796 231 2,728 +10,862 81,014

 947 212 99 71,437 71,403 71,403 25,436 45,967 0 0 34 265 208 2,772 - 4,181 71,759

 328 71 40 24,708 24,707 24,707 8,801 15,906 0 0 1 145 79 752 + 1,723 27,844

 2   15,8 15,8 15,8 5,6 10,1    1 1 7 - 1 16,9
 959,582

 183,673 775,909 775,909 11,037 2,200 762,672 0 811,138 29,975 781,163

Total Boston New York Philadelphia Cleveland Richmond Atlanta Chicago St. Louis Minneap

LiabilitiesFederal Reserve notes outstanding

Less: notes held by F.R. Banks

Federal Reserve notes, net

Reverse repurchase agreements1

Deposits

Depository institutionsU.S. Treasury, general accountForeign officialOther

Deferred availability cash itemsOther liabilities and accrued

dividends2

Total liabilities

CapitalCapital paid inSurplusOther capital

Total liabilities and capital

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.

 959,582 183,673 775,909 29,903 22,272 16,489 5,436 89 258 6,420 5,949 840,452 15,326 10,554 4,565 870,897

 39,164 3,453 35,711 1,427 817 815 0 1 0 437 275 38,667 396 309 112 39,484

 342,773 57,997 284,776 11,068 11,161 5,489 5,436 60 176 153 1,945 309,104 3,727 1,604 1,873 316,309

 38,792 7,539 31,253 1,298 491 488 0 2 0 1,065 302 34,410 1,810 723 752 37,696

 36,522 7,186 29,336 1,291 1,023 1,018 0 3 1 531 297 32,477 1,087 996 110 34,669

 75,335 12,245 63,090 2,484 1,975 1,893 0 11 71 668 654 68,871 4,095 3,238 854 77,058

 97,952 24,657 73,296 2,503 1,391 1,388 0 3 0 728 498 78,416 1,276 872 449 81,014

 80,031 15,147 64,885 2,746 1,342 1,337 0 3 2 464 541 69,977 858 838 87 71,759

 29,145 3,415 25,730 950 465 458 0 0 7 131 219 27,496 166 124 58 27,844

 17,4 2,6 14,8 6 4 4    3 1 16,3 2 2  16,9

H.4.14. Statement of Condition of Each Federal Reserve Bank on December 20, 2006 (continued)Millions of dollars

Assets, liabilities, and capital

Federal Reserve notes outstanding

Less: Notes held by F.R. Banks

not subject to collateralization

Federal Reserve notes to be collateralized

Collateral held against Federal Reserve notes

Gold certificate accountSpecial drawing rights certificate accountU.S. Treasury and agency securities pledged1Other assets pledged

Memo:Total U.S. Treasury and agency securities1

Less: face value of securities under

reverse repurchase agreements

U.S. Treasury and agency securities

eligible to be pledged

5. Collateral Held against Federal Reserve Notes:Federal Reserve Agents' AccountsMillions of dollarsFederal Reserve notes and collateral Wednesday

 Dec 20, 2006

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 ofinflation-indexed securities, and cash value of repurchase agreements.