Reserve Bank credit, related items, and

reserve balances of depository institutions

at Federal Reserve Banks

Reserve Bank credit 822,842 - 1,833 + 36,247 824,241

Securities held outright 760,449 + 272 + 38,261 762,378

U.S. Treasury1 760,449 + 272 + 38,261 762,378

Bills2 275,370 0 + 11,017 275,370

Notes and bonds, nominal2 458,932 + 239 + 22,778 460,850

Notes and bonds, inflation-indexed2 22,646 0 + 3,538 22,646

Inflation compensation3 3,501 + 33 + 928 3,513

Federal agency2 0 0 0 0

Repurchase agreements4 22,857 - 893 - 3,500 22,500

Loans to depository institutions 174 + 6 + 24 179

Primary credit 21 + 1 + 13 18

Secondary credit 0 0 0 0

Seasonal credit 152 + 3 + 10 161

Float 225 + 473 + 1,011 -27

Other Federal Reserve assets 39,137 - 1,691 + 452 39,210

Gold stock 11,041 0 0 11,041

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

Treasury currency outstanding5 37,977 + 14 + 1,432 37,977

Total factors supplying reserve funds 874,060 - 1,819 + 37,679 875,459

Currency in circulation5 793,851 - 129 + 39,585 796,331

Reverse repurchase agreements6 23,218 - 439 - 2,562 22,803

Foreign official and international accounts 23,218 - 439 - 2,562 22,803

Dealers 0 0 0 0

Treasury cash holdings 185 + 4 - 77 187

Deposits with F.R. Banks, other than reserve balances 13,218 + 248 - 426 12,891

U.S. Treasury, general account 5,476 + 284 + 540 5,188

Foreign official 88 - 17 + 6 85

Service-related 7,365 - 1 - 975 7,366

Required clearing balances 7,365 - 1 - 975 7,366

Adjustments to compensate for float 0 0 0 0

Other 288 - 20 + 2 252

Other liabilities and capital 33,506 - 391 + 4,528 33,148

Total factors, other than reserve balances,

absorbing reserve funds 863,977 - 709 + 41,049 865,359

Reserve balances with Federal Reserve Banks 10,082 - 1,112 - 3,371 10,100

Memo (off-balance-sheet items):

Marketable securities held in custody for foreign

 official and international accounts2,7 1,616,566 - 7,849 + 205,723 1,612,233

U.S. Treasury 1,117,100 - 7,954 + 36,781 1,112,531

Federal agency 499,465 + 104 + 168,941 499,702

Securities lent to dealers 1,336 - 264 - 2,088 1,228

FEDERAL RESERVE statistical release

 May 25, 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

 May 24, 2006 Week ended

 May 24, 2006 May 17, 2006 May 25, 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 743 - 24 + 110

Securities, repurchase agreements, and loans 785,057 + 3,728 + 30,916

Securities held outright 762,378 + 2,727 + 39,386

U.S. Treasury1 762,378 + 2,727 + 39,386

Bills2 275,370 0 + 10,855

Notes and bonds, nominal2 460,850 + 2,695 + 24,069

Notes and bonds, inflation-indexed2 22,646 0 + 3,538

Inflation compensation3 3,513 + 33 + 926

Federal agency2 0 0 0

Repurchase agreements4 22,500 + 1,000 - 8,500

Loans 179 + 1 + 30

Items in process of collection (1,716) 5,410 - 1,864 + 200

Bank premises 1,836 0 + 18

Other assets5 37,254 + 329 + 233

Total assets (1,716) 843,537 + 2,169 + 31,477

Liabilities

Federal Reserve notes, net of F.R. Bank holdings 759,280 + 1,311 + 37,536

Reverse repurchase agreements6 22,803 + 234 - 2,383

Deposits (0) 22,880 + 1,122 - 6,877

Depository institutions 17,354 + 1,041 - 6,527

U.S. Treasury, general account 5,188 + 133 - 330

Foreign official 85 0 + 6

Other (0) 252 - 52 - 26

Deferred availability cash items (1,716) 5,427 - 597 - 907

Other liabilities and accrued dividends7 4,889 + 149 + 1,465

Total liabilities (1,716) 815,279 + 2,220 + 28,834

Capital accounts

Capital paid in 13,866 + 7 + 1,007

Surplus 12,901 0 + 1,484

Other capital accounts 1,491 - 58 + 151

Total capital 28,258 - 51 + 2,643

H.4.1

2. Consolidated Statement of Condition of All Federal Reserve Banks

Millions of dollars

Change since

Wednesday

 May 25, 2005

Eliminations from

consolidation Wednesday

 May 24, 2006

Wednesday

 May 17, 2006

3. Maturity Distribution of Loans and Securities, May 24, 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 164 65,840 + 1,386 0 0 22,500 22,803

16 days to 90 days 15 163,279 - 788 0 0 0 0

91 days to 1 year 0 181,747 + 780 0 0 . . . . . . 

Over 1 year to 5 years . . . 213,652 + 1,228 0 0 . . . . . . 

Over 5 years to 10 years . . . 59,595 + 4,198 0 0 . . . . . . 

Over 10 years . . . 78,265 - 4,077 0 0 . . . . . . 

All 179 762,378 + 2,727 0 0 22,500 22,803

Assets, liabilities, and capital

Maturity
H.4.1

4. Statement of Condition of Each Federal Reserve Bank on May 24, 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 2,200 743 785,057 762,378 762,378 275,370 487,009 0 22,500 179 7,126 1,836 37,254 0 845,253

Assets, liabilities, and capital

 4,139 874 51 304,677 282,177 282,177 101,922 180,255 0 22,500 0 586 206 13,410 + 594 324,537

 486 115 35 36,389 36,379 36,379 13,140 23,239 0 0 10 493 113 1,157 - 1,369 37,419

 463 83 36 33,099 33,099 33,099 11,955 21,144 0 0 0 461 56 1,873 + 765 36,835

 446 104 75 32,919 32,919 32,919 11,890 21,029 0 0 0 796 157 2,209 - 645 36,060

 853 147 63 63,335 63,331 63,331 22,875 40,456 0 0 5 455 153 6,839 + 3,239 75,084

 1,023 166 83 63,835 63,824 63,824 23,053 40,771 0 0 12 910 231 2,599 + 2,714 71,563

 947 212 81 70,071 70,001 70,001 25,284 44,717 0 0 69 407 209 2,619 - 6,857 67,690

 328 71 38 24,237 24,222 24,222 8,749 15,473 0 0 15 251 70 698 - 415 25,278

 2   15,5 15,4 15,4 5,5 9,9    3 1 6 - 1 16,7
 922,069

 162,789 759,280 759,280 11,037 2,200 746,043 0 784,878 22,829 762,049

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.

 922,069 162,789 759,280 22,803 22,880 17,354 5,188 85 252 7,143 4,889 816,995 13,866 12,901 1,491 845,253

 38,302 4,324 33,978 1,088 966 964 0 1 1 476 239 36,747 324 317 31 37,419

 342,035 45,662 296,374 8,440 9,769 4,357 5,188 56 167 771 1,606 316,960 3,670 3,685 222 324,537

 39,597 6,801 32,797 990 729 727 0 2 0 575 252 35,343 729 744 19 36,835

 36,827 5,876 30,952 985 1,030 1,026 0 3 1 805 241 34,012 1,017 1,013 18 36,060

 73,846 12,526 61,320 1,894 2,736 2,647 0 11 79 583 525 67,059 4,010 3,307 708 75,084

 87,320 23,251 64,068 1,909 2,114 2,111 0 3 0 891 413 69,394 1,063 892 214 71,563

 74,932 13,520 61,412 2,094 1,543 1,540 0 3 0 343 446 65,837 902 876 75 67,690

 27,493 4,127 23,366 724 550 547 0 0 2 152 175 24,967 149 144 18 25,278

 17,4 2,4 15,0 4 2 2    3 1 16,2 2 2  16,7

H.4.14. Statement of Condition of Each Federal Reserve Bank on May 24, 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

 May 24, 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.