FEDERAL RESERVE Statistical Release

H.4.1
Factors Affecting Reserve Balances of Depository Institutions and
Condition Statement of Federal Reserve Banks
                                                                                          December 22, 2005
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 21, 2005 Dec 14, 2005 Dec 22, 2004 Dec 21, 2005
Federal Reserve Banks

Reserve Bank Credit                                         817,179    +   5,554    +  32,712      830,006
 Securities held outright                                   744,196    +      11    +  26,522      744,200       
    U.S. Treasury (1)                                       744,196    +      11    +  26,522      744,200
       Bills (2)                                            271,270            0    +   8,409      271,270
       Notes and bonds, nominal (2)                         449,595            0    +  13,166      449,595
       Notes and bonds, inflation-indexed (2)                19,983            0    +   3,875       19,983
       Inflation compensation (3)                             3,347    +      10    +   1,071        3,351
    Federal agency (2)                                            0            0            0            0      
 Repurchase agreements(4)                                    31,964    +   4,785    +   6,571       45,000
 Loans to depository institutions                               437    +     356    +     362           75
    Primary credit                                              365    +     354    +     346            2
    Secondary credit                                              0            0            0            0
    Seasonal credit                                              72    +       2    +      16           72
 Float                                                        1,811    -     236    +   1,361        2,011
 Other Federal Reserve assets                                38,770    +     637    -   2,106       38,721
Gold stock                                                   11,041            0    -       2       11,041
Special drawing rights certificate account                    2,200            0            0        2,200
Treasury currency outstanding (5)                            36,527    +      14    +      92       36,527
       
Total factors supplying reserve funds                       866,946    +   5,568    +  32,801      879,774
                                                                   
Currency in circulation(5)                                  783,800    +   4,458    +  30,169      788,592
Reverse repurchase agreements (6)                            26,837    +   1,665    -   1,237       26,762
   Foreign official and international accounts               26,837    +   1,665    -   1,237       26,762
   Dealers                                                        0            0            0            0
Treasury cash holdings                                          199            0    -      65          203
Deposits with F.R.Banks, other than reserve balances         14,715    +     152    -     546       14,481       
  U.S. Treasury, general account                              5,402    +       6    +     269        5,290
  Foreign official                                              139    +      40    +      42           86
  Service-related                                             8,825    +      21    -     936        8,825
     Required clearing balances                               8,809    +       5    -     952        8,809
     Adjustments to compensate for float                         16    +      16    +      16           16
  Other                                                         349    +      84    +      79          280
Other liabilities and capital                                33,005    -     103    +   6,865       32,135

Total factors, other than reserve balances,                                        
   absorbing reserve funds                                  858,556    +   6,172    +  35,185      862,174

Reserve balances with Federal Reserve Banks                   8,390    -     605    -   2,385       17,600
                                                                

Memo (off-balance-sheet items):
  Marketable securities held in custody for foreign
         official and international accounts(2,7)         1,514,278    +   3,794    + 184,181    1,516,044
     U.S. Treasury                                        1,101,705    -   1,345    +  42,080    1,100,624
     Federal agency                                         412,573    +   5,140    + 142,101      415,420
  Securities lent to dealers                                  5,255    +   1,435    +   1,902        2,717   


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 21, 2005     Dec 14, 2005     Dec 22, 2004

Assets
Gold certificate account                                        11,037                0        -       2
Special drawing rights certificate account                       2,200                0                0
Coin                                                               704        -       7        -      18
Securities, repurchase agreements, and loans                   789,275        +  16,747        +  39,514
   Securities held outright                                    744,200        +      11        +  26,518
      U.S. Treasury (1)                                        744,200        +      11        +  26,518       
         Bills (2)                                             271,270                0        +   8,409
         Notes and bonds, nominal (2)                          449,595                0        +  13,166
         Notes and bonds, inflation-indexed (2)                 19,983                0        +   3,875
         Inflation compensation (3)                              3,351        +      10        +   1,067
      Federal agency (2)                                             0                0                0
   Repurchase agreements (4)                                    45,000        +  16,750        +  13,000    
   Loans                                                            75        -      14        -       4
Items in process of collection                    (1,092)        9,117        +     589        +   1,019
Bank premises                                                    1,856        +       8        +      83
Other assets (5)                                                36,842        +      32        -   2,422
      Total assets                                (1,092)      851,030        +  17,369        +  38,171
                          
Liabilities
Federal Reserve notes net of FR Bank holdings                  752,969        +   6,398        +  31,052
Reverse repurchase agreements (6)                               26,762        +     187        -   1,294
Deposits                                              (0)       32,061        +  10,515        +   2,255       
  Depository institutions                                       26,405        +  10,177        +     999
  U.S. Treasury, general account                                 5,290        +     300        +   1,243
  Foreign official                                                  86        +       2        -       2
  Other                                               (0)          280        +      36        +      16
Deferred availability cash items                  (1,092)        7,103        +     924        +     130
Other liabilities and accrued dividends (7)                      4,354        -      27        +   1,215
      Total liabilities                           (1,092)      823,249        +  17,997        +  33,357
                          
Capital Accounts
Capital paid in                                                 13,536        +       6        +   1,898
Surplus                                                         11,629        -       1        +   2,782
Other capital accounts                                           2,617        -     633        +     135
      Total capital                                             27,781        -     628        +   4,814


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 21, 2005
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              72       56,415   +   7,951            0           0       45,000       26,762
16 days to 90 days           3      156,706   -   7,774            0           0            0            0
91 days to 1 year            0      186,436   -     177            0           0     ------      ------
Over 1 to 5 years     ------        210,739   +       4            0           0     ------      ------
Over 5 to 10 years    ------         56,696   +       2            0           0     ------      ------
Over 10 years         ------         77,208   +       4            0           0     ------      ------
                   		 	
All                         75      744,200   +      11            0           0       45,000      26,762

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 21, 2005
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        510      4,355        432        453        836        945        928        327        212        318        549      1,172
Special drawing rights certificate acct.       2,200        115        874         83        104        147        166        212         71         30         66         98        234
Coin                                             704         31         46         37         57         67         93         77         36         23         62         71        103
Securities, repurchase agreements,
      and loans                              789,275     38,076    340,101     26,400     31,439     56,795     57,584     67,045     23,100     15,556     21,065     36,656     75,459
   Securities held outright                  744,200     38,076    295,101     26,400     31,439     56,795     57,575     67,019     23,093     15,543     21,049     36,653     75,457
      U.S. Treasury (1)                      744,200     38,076    295,101     26,400     31,439     56,795     57,575     67,019     23,093     15,543     21,049     36,653     75,457
         Bills (2)                           271,270     13,879    107,568      9,623     11,460     20,702     20,987     24,429      8,418      5,666      7,673     13,360     27,505
         Notes and bonds(3)                  472,929     24,197    187,533     16,777     19,979     36,092     36,588     42,590     14,675      9,877     13,376     23,292     47,952
         Federal agency (2)                        0          0          0          0          0          0          0          0          0          0          0          0          0
      Repurchase agreements(4)                45,000          0     45,000          0          0          0          0          0          0          0          0          0          0
      Loans                                       75          0          0          0          0          0          9         26          7         13         16          3          2
Items in process of collection                10,209        570        804        609        945        446      1,556        590        273        403      1,083      1,190      1,741
Bank premises                                  1,856        110        204         53        158        152        272        210         69        120         81        262        164
Other assets(5)                               36,842      3,174     14,031      1,086      2,401      4,704      2,045      2,558        886        734        674        974      3,575
Interdistrict settlement account                   0    - 3,434    -40,523    + 6,257    + 1,803    + 7,950    +10,194    + 1,341    + 1,902    -   118    + 1,795    - 3,966    +16,799
          Total Assets                       852,122     39,151    319,891     34,958     37,360     71,097     72,856     72,960     26,665     16,960     25,143     35,834     99,248

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 21, 2005
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             908,267     39,206    328,159     37,439     36,635     69,911     84,379     77,108     28,162     17,932     27,888     50,436    111,011
  Less: notes held by F.R. Banks              155,298      4,855     44,753      6,385      5,363     12,563     19,614     10,927      3,688      2,921      5,275     17,690     21,264
    Federal Reserve notes, net                752,969     34,351    283,406     31,054     31,273     57,348     64,765     66,181     24,474     15,011     22,613     32,746     89,746
Reverse repurchase agreements (1)              26,762      1,369     10,612        949      1,131      2,042      2,070      2,410        830        559        757      1,318      2,714
Deposits                                       32,061        825     15,853        674      2,065      3,309      2,744      1,857        637        344        731        766      2,256
  Depository institutions                      26,405        820     10,336        673      2,059      3,199      2,742      1,853        635        343        729        766      2,252
  U.S. Treasury, general account                5,290          0      5,290          0          0          0          0          0          0          0          0          0          0
  Foreign official                                 86          5         58          1          4          7          2          3          1          1          1          0          4
  Other                                           280          0        169          0          2        102          0          1          2          0          2          0          0
Deferred availability cash items                8,195        716        967        669        589        776      1,113        340        179        423        552        463      1,408
Other liabilities and accrued                 
  dividends (2)                                 4,354        221      1,500        173        222        484        344        385        155        120        136        212        402
   
    Total liabilities                         824,341     37,482    312,339     33,519     35,279     63,959     71,036     71,173     26,276     16,456     24,789     35,505     96,526
                              
Capital                    
Capital paid in                                13,536        317      3,685        744      1,013      3,942        892        876        144        245        175        153      1,349
Surplus                                        11,629      1,352      3,430        294      1,065      2,148        516        763        236        254        153        135      1,283
Other capital                                   2,617          0        438        401          2      1,047        412        147          9          5         26         41         90
     Total liabilities and capital            852,122     39,151    319,891     34,958     37,360     71,097     72,856     72,960     26,665     16,960     25,143     35,834     99,248
                              

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 21, 2005
              
Federal Reserve notes outstanding             908,267
   Less: Notes held by F.R. Banks
         not subject to collateralization     155,298
      Federal Reserve Notes to be
         collateralized                       752,969 
Collateral held against Federal Reserve            
   notes                                      752,969
   Gold certificate account                    11,037
   Special drawing rights                 
     certificate account                        2,200
   U.S. Treasury and agency securities   
     pledged (1)                              739,732
   Other assets pledged                             0

Memo:
Total U.S. Treasury and agency 
       securities (1)                         789,200
   Less:face value of securities under
         reverse repurchase agreements         26,791
      U.S. Treasury and agency securities
             eligible to be pledged           762,409
   

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.