Reserve Bank credit, related items, and

reserve balances of depository institutions

at Federal Reserve Banks

Reserve Bank credit 852,198 + 6,988 + 25,801 855,179

Securities held outright 778,951 + 2,021 + 34,744 778,938

U.S. Treasury1 778,951 + 2,021 + 34,744 778,938

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

Notes and bonds, nominal2 467,864 + 2,066 + 18,269 467,864

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

Inflation compensation3 3,964 - 44 + 606 3,951

Federal agency2 0 0 0 0

Repurchase agreements4 33,036 + 4,107 - 9,143 36,000

Loans to depository institutions 149 - 43 + 24 488

Primary credit 64 - 43 + 13 407

Secondary credit 0 0 0 0

Seasonal credit 85 0 + 11 81

Float 883 - 13 + 76 411

Other Federal Reserve assets 39,180 + 917 + 100 39,342

Gold stock 11,041 0 0 11,041

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

Treasury currency outstanding5 38,245 + 14 + 1,705 38,245

Total factors supplying reserve funds 903,684 + 7,003 + 27,506 906,665

Currency in circulation5 816,870 + 8,180 + 24,815 819,930

Reverse repurchase agreements6 30,509 + 968 + 1,932 32,126

Foreign official and international accounts 30,509 + 968 + 1,932 32,126

Dealers 0 0 0 0

Treasury cash holdings 230 + 26 + 27 252

Deposits with F.R. Banks, other than reserve balances 12,434 - 994 - 1,466 11,656

U.S. Treasury, general account 5,240 - 826 + 387 4,470

Foreign official 92 - 3 + 8 92

Service-related 6,836 - 186 - 1,825 6,836

Required clearing balances 6,836 - 179 - 1,812 6,836

Adjustments to compensate for float 0 - 7 - 13 0

Other 266 + 21 - 37 258

Other liabilities and capital 36,824 + 398 + 4,175 36,717

Total factors, other than reserve balances,

absorbing reserve funds 896,867 + 8,577 + 29,482 900,680

Reserve balances with Federal Reserve Banks 6,817 - 1,574 - 1,976 5,984

Memo (off-balance-sheet items):

Marketable securities held in custody for foreign

 official and international accounts2,7 1,752,102 + 10,000 + 233,039 1,761,941

U.S. Treasury 1,155,885 - 714 + 56,151 1,162,198

Federal agency 596,217 + 10,715 + 176,888 599,743

Securities lent to dealers 3,325 + 2,362 + 2,029 3,141

FEDERAL RESERVE statistical release

 December 28, 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 27, 2006 Week ended

 Dec 27, 2006 Dec 20, 2006 Dec 28, 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 800 - 21 + 112

Securities, repurchase agreements, and loans 815,426 + 4,197 + 25,852

Securities held outright 778,938 + 1,300 + 34,728

U.S. Treasury1 778,938 + 1,300 + 34,728

Bills2 277,019 0 + 5,749

Notes and bonds, nominal2 467,864 + 1,342 + 18,269

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

Inflation compensation3 3,951 - 42 + 589

Federal agency2 0 0 0

Repurchase agreements4 36,000 + 2,500 - 9,250

Loans 488 + 398 + 374

Items in process of collection (1,174) 5,137 + 323 - 2,613

Bank premises 1,944 + 13 + 118

Other assets5 37,349 + 436 + 10

Total assets (1,174) 873,894 + 4,950 + 23,480

Liabilities

Federal Reserve notes, net of F.R. Bank holdings 782,733 + 6,824 + 23,487

Reverse repurchase agreements6 32,126 + 2,223 + 1,754

Deposits (0) 17,591 - 4,681 - 4,075

Depository institutions 12,772 - 3,717 - 4,290

U.S. Treasury, general account 4,470 - 966 + 227

Foreign official 92 + 3 + 7

Other (0) 258 0 - 18

Deferred availability cash items (1,174) 4,727 + 260 - 1,970

Other liabilities and accrued dividends7 5,987 + 38 + 1,568

Total liabilities (1,174) 843,163 + 4,664 + 20,763

Capital accounts

Capital paid in 15,328 + 2 + 1,792

Surplus 10,554 0 - 1,076

Other capital accounts 4,848 + 283 + 1,999

Total capital 30,731 + 286 + 2,717

H.4.1

2. Consolidated Statement of Condition of All Federal Reserve Banks

Millions of dollars

Change since

Wednesday

 Dec 28, 2005

Eliminations from

consolidation Wednesday

 Dec 27, 2006

Wednesday

 Dec 20, 2006

3. Maturity Distribution of Loans and Securities, December 27, 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 488 57,557 - 993 0 0 36,000 32,126

16 days to 90 days 0 163,462 + 1,593 0 0 0 0

91 days to 1 year 0 185,595 - 603 0 0 . . . . . . 

Over 1 year to 5 years . . . 224,185 + 1,329 0 0 . . . . . . 

Over 5 years to 10 years . . . 67,650 - 9 0 0 . . . . . . 

Over 10 years . . . 80,489 - 16 0 0 . . . . . . 

All 488 778,938 + 1,300 0 0 36,000 32,126

Assets, liabilities, and capital

Maturity
H.4.1

4. Statement of Condition of Each Federal Reserve Bank on December 27, 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 2,200 800 815,426 778,938 778,938 277,019 501,920 0 36,000 488 6,311 1,944 37,349 0 875,068

Assets, liabilities, and capital

 4,139 874 48 324,306 288,306 288,306 102,532 185,774 0 36,000 0 44 212 12,195 -28,259 313,560

 486 115 23 37,178 37,170 37,170 13,219 23,951 0 0 9 247 118 1,261 + 305 39,733

 463 83 53 33,820 33,818 33,818 12,027 21,791 0 0 1 611 58 1,891 + 861 37,839

 446 104 77 33,634 33,634 33,634 11,962 21,673 0 0 0 774 158 2,313 - 2,575 34,931

 853 147 78 65,111 64,706 64,706 23,012 41,695 0 0 405 410 167 7,054 + 3,767 77,588

 1,023 166 94 65,216 65,210 65,210 23,191 42,019 0 0 6 366 231 2,772 +12,370 82,238

 947 212 97 71,550 71,522 71,522 25,436 46,086 0 0 28 499 207 2,818 - 3,568 72,762

 328 71 39 24,749 24,748 24,748 8,801 15,947 0 0 1 172 79 766 + 2,091 28,295

 2   15,8 15,8 15,8 5,6 10,2    3 1 7 - 3 16,9
 959,287

 176,554 782,733 782,733 11,037 2,200 769,496 0 814,938 32,171 782,767

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.

 959,287 176,554 782,733 32,126 17,591 12,772 4,470 92 258 5,900 5,987 844,337 15,328 10,554 4,848 875,068

 39,169 3,149 36,020 1,533 713 710 0 1 1 373 276 38,914 396 309 114 39,733

 342,498 56,921 285,578 11,891 6,573 1,858 4,470 63 182 125 1,941 306,108 3,727 1,604 2,121 313,560

 38,763 7,288 31,475 1,395 600 597 0 2 1 759 305 34,534 1,810 723 771 37,839

 36,445 6,736 29,709 1,387 954 949 0 3 3 388 296 32,735 1,087 996 113 34,931

 75,267 11,492 63,775 2,669 1,672 1,599 0 11 62 583 682 69,380 4,097 3,238 872 77,588

 97,746 23,731 74,015 2,689 1,892 1,889 0 3 0 551 495 79,643 1,276 872 447 82,238

 80,081 14,441 65,641 2,950 1,502 1,499 0 3 0 340 542 70,975 858 838 91 72,762

 29,205 3,141 26,064 1,021 526 519 0 0 6 125 216 27,952 166 124 53 28,295

 17,4 2,5 14,9 6 2 2    4 1 16,4 2 2  16,9

H.4.14. Statement of Condition of Each Federal Reserve Bank on December 27, 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 27, 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.