FEDERAL RESERVE Statistical Release

H.4.1
Factors Affecting Reserve Balances of Depository Institutions and
Condition Statement of Federal Reserve Banks
                                                                                          December 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           Dec 20, 2006 Dec 13, 2006 Dec 21, 2005 Dec 20, 2006
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. Treasury (1)                                       776,930    +   1,516    +  32,734      777,638
       Bills (2)                                            277,019            0    +   5,749      277,019
       Notes and bonds, nominal (2)                         465,798    +   1,557    +  16,203      466,522
       Notes and bonds, inflation-indexed (2)                30,105            0    +  10,122       30,105
       Inflation compensation (3)                             4,008    -      42    +     661        3,993
    Federal agency (2)                                            0            0            0            0      
 Repurchase agreements(4)                                    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 outstanding (5)                            38,231    +      14    +   1,691       38,231
       
Total factors supplying reserve funds                       896,681    +   7,617    +  29,724      901,634
                                                                   
Currency in circulation(5)                                  808,690    +   2,433    +  24,877      813,096
Reverse repurchase agreements (6)                            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 accounts(2,7)         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   


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 20, 2006     Dec 13, 2006     Dec 21, 2005

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. Treasury (1)                                        777,638        +   2,035        +  33,438       
         Bills (2)                                             277,019                0        +   5,749
         Notes and bonds, nominal (2)                          466,522        +   2,077        +  16,927
         Notes and bonds, inflation-indexed (2)                 30,105                0        +  10,122
         Inflation compensation (3)                              3,993        -      42        +     642
      Federal agency (2)                                             0                0                0
   Repurchase agreements (4)                                    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 assets (5)                                                36,913        +     469        +      71
      Total assets                                (1,953)      868,944        +  11,140        +  17,914
                          
Liabilities
Federal Reserve notes net of FR Bank holdings                  775,909        +   4,614        +  22,940
Reverse repurchase agreements (6)                               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 dividends (7)                      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


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 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              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 to 5 years     ------        222,856   +   1,315            0           0     ------      ------
Over 5 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

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 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                                             821         24         51         57         79         79         98         99         40         30         63         82        120
Securities, repurchase agreements,
      and loans                              811,229     37,117    321,325     33,765     33,578     64,598     65,109     71,437     24,708     15,828     22,788     34,899     86,077
   Securities held outright                  777,638     37,108    287,825     33,762     33,578     64,598     65,101     71,403     24,707     15,809     22,771     34,899     86,077
      U.S. Treasury (1)                      777,638     37,108    287,825     33,762     33,578     64,598     65,101     71,403     24,707     15,809     22,771     34,899     86,077
         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)                  500,620     23,889    185,293     21,735     21,617     41,587     41,910     45,967     15,906     10,177     14,659     22,467     55,414
         Federal agency (2)                        0          0          0          0          0          0          0          0          0          0          0          0          0
      Repurchase agreements(4)                33,500          0     33,500          0          0          0          0          0          0          0          0          0          0
      Loans                                       90          9          0          3          0          0          8         34          1         19         17          0          0
Items in process of collection                 6,767        316        120        763        707        564        796        265        145        163        652        530      1,745
Bank premises                                  1,931        117        212         58        157        167        231        208         79        116        147        259        180
Other assets(5)                               36,913      1,238     12,021      1,874      2,296      7,040      2,728      2,772        752        710        731        961      3,790
Interdistrict settlement account                   0    +    71    -22,433    +   634    - 2,699    + 3,609    +10,862    - 4,181    + 1,723    -   170    + 4,452    + 2,838    + 5,295
          Total Assets                       870,897     39,484    316,309     37,696     34,669     77,058     81,014     71,759     27,844     16,918     29,223     40,242     98,682

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 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             959,582     39,164    342,773     38,792     36,522     75,335     97,952     80,031     29,145     17,499     30,648     56,826    114,894
  Less: notes held by F.R. Banks              183,673      3,453     57,997      7,539      7,186     12,245     24,657     15,147      3,415      2,685      4,095     19,729     25,525
    Federal Reserve notes, net                775,909     35,711    284,776     31,253     29,336     63,090     73,296     64,885     25,730     14,815     26,553     37,096     89,369
Reverse repurchase agreements (1)              29,903      1,427     11,068      1,298      1,291      2,484      2,503      2,746        950        608        876      1,342      3,310
Deposits                                       22,272        817     11,161        491      1,023      1,975      1,391      1,342        465        441        729        689      1,748
  Depository institutions                      16,489        815      5,489        488      1,018      1,893      1,388      1,337        458        440        728        688      1,746
  U.S. Treasury, general account                5,436          0      5,436          0          0          0          0          0          0          0          0          0          0
  Foreign official                                 89          1         60          2          3         11          3          3          0          1          1          0          4
  Other                                           258          0        176          0          1         71          0          2          7          0          1          0         -2
Deferred availability cash items                6,420        437        153      1,065        531        668        728        464        131        337        509        377      1,019
Other liabilities and accrued                 
  dividends (2)                                 5,949        275      1,945        302        297        654        498        541        219        156        191        288        583
   
    Total liabilities                         840,452     38,667    309,104     34,410     32,477     68,871     78,416     69,977     27,496     16,356     28,858     39,792     96,029
                              
Capital                    
Capital paid in                                15,326        396      3,727      1,810      1,087      4,095      1,276        858        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                                   4,565        112      1,873        752        110        854        449         87         58         51         24        118         78
     Total liabilities and capital            870,897     39,484    316,309     37,696     34,669     77,058     81,014     71,759     27,844     16,918     29,223     40,242     98,682
                              

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 20, 2006
              
Federal Reserve notes outstanding             959,582
   Less: Notes held by F.R. Banks
         not subject to collateralization     183,673
      Federal Reserve Notes to be
         collateralized                       775,909 
Collateral held against Federal Reserve            
   notes                                      775,909
   Gold certificate account                    11,037
   Special drawing rights                 
     certificate account                        2,200
   U.S. Treasury and agency securities   
     pledged (1)                              762,672
   Other assets pledged                             0

Memo:
Total U.S. Treasury and agency 
       securities (1)                         811,138
   Less:face value of securities under
         reverse repurchase agreements         29,975
      U.S. Treasury and agency securities
             eligible to be pledged           781,163
   

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.