FEDERAL RESERVE Statistical Release

H.4.1
Factors Affecting Reserve Balances of Depository Institutions and
Condition Statement of Federal Reserve Banks
                                                                                          December 28, 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 27, 2006 Dec 20, 2006 Dec 28, 2005 Dec 27, 2006
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. Treasury (1)                                       778,951    +   2,021    +  34,744      778,938
       Bills (2)                                            277,019            0    +   5,749      277,019
       Notes and bonds, nominal (2)                         467,864    +   2,066    +  18,269      467,864
       Notes and bonds, inflation-indexed (2)                30,105            0    +  10,122       30,105
       Inflation compensation (3)                             3,964    -      44    +     606        3,951
    Federal agency (2)                                            0            0            0            0      
 Repurchase agreements(4)                                    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 outstanding (5)                            38,245    +      14    +   1,705       38,245
       
Total factors supplying reserve funds                       903,684    +   7,003    +  27,506      906,665
                                                                   
Currency in circulation(5)                                  816,870    +   8,180    +  24,815      819,930
Reverse repurchase agreements (6)                            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 accounts(2,7)         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   


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 27, 2006     Dec 20, 2006     Dec 28, 2005

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. Treasury (1)                                        778,938        +   1,300        +  34,728       
         Bills (2)                                             277,019                0        +   5,749
         Notes and bonds, nominal (2)                          467,864        +   1,342        +  18,269
         Notes and bonds, inflation-indexed (2)                 30,105                0        +  10,122
         Inflation compensation (3)                              3,951        -      42        +     589
      Federal agency (2)                                             0                0                0
   Repurchase agreements (4)                                    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 assets (5)                                                37,349        +     436        +      10
      Total assets                                (1,174)      873,894        +   4,950        +  23,480
                          
Liabilities
Federal Reserve notes net of FR Bank holdings                  782,733        +   6,824        +  23,487
Reverse repurchase agreements (6)                               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 dividends (7)                      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


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 27, 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             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 to 5 years     ------        224,185   +   1,329            0           0     ------      ------
Over 5 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

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 27, 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                                             800         23         48         53         77         78         94         97         39         30         61         80        119
Securities, repurchase agreements,
      and loans                              815,426     37,178    324,306     33,820     33,634     65,111     65,216     71,550     24,749     15,856     22,827     34,958     86,221
   Securities held outright                  778,938     37,170    288,306     33,818     33,634     64,706     65,210     71,522     24,748     15,835     22,809     34,958     86,221
      U.S. Treasury (1)                      778,938     37,170    288,306     33,818     33,634     64,706     65,210     71,522     24,748     15,835     22,809     34,958     86,221
         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)                  501,920     23,951    185,774     21,791     21,673     41,695     42,019     46,086     15,947     10,204     14,697     22,526     55,558
         Federal agency (2)                        0          0          0          0          0          0          0          0          0          0          0          0          0
      Repurchase agreements(4)                36,000          0     36,000          0          0          0          0          0          0          0          0          0          0
      Loans                                      488          9          0          1          0        405          6         28          1         21         18          0          0
Items in process of collection                 6,311        247         44        611        774        410        366        499        172        350        769        595      1,475
Bank premises                                  1,944        118        212         58        158        167        231        207         79        116        158        260        182
Other assets(5)                               37,349      1,261     12,195      1,891      2,313      7,054      2,772      2,818        766        718        745        981      3,834
Interdistrict settlement account                   0    +   305    -28,259    +   861    - 2,575    + 3,767    +12,370    - 3,568    + 2,091    -   328    + 4,636    + 3,433    + 7,268
          Total Assets                       875,068     39,733    313,560     37,839     34,931     77,588     82,238     72,762     28,295     16,983     29,586     40,979    100,575

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 27, 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             959,287     39,169    342,498     38,763     36,445     75,267     97,746     80,081     29,205     17,483     30,821     56,901    114,907
  Less: notes held by F.R. Banks              176,554      3,149     56,921      7,288      6,736     11,492     23,731     14,441      3,141      2,555      3,738     19,223     24,141
    Federal Reserve notes, net                782,733     36,020    285,578     31,475     29,709     63,775     74,015     65,641     26,064     14,928     27,083     37,678     90,767
Reverse repurchase agreements (1)              32,126      1,533     11,891      1,395      1,387      2,669      2,689      2,950      1,021        653        941      1,442      3,556
Deposits                                       17,591        713      6,573        600        954      1,672      1,892      1,502        526        237        463        700      1,761
  Depository institutions                      12,772        710      1,858        597        949      1,599      1,889      1,499        519        236        461        699      1,757
  U.S. Treasury, general account                4,470          0      4,470          0          0          0          0          0          0          0          0          0          0
  Foreign official                                 92          1         63          2          3         11          3          3          0          1          1          0          4
  Other                                           258          1        182          1          3         62          0          0          6          0          2          0          0
Deferred availability cash items                5,900        373        125        759        388        583        551        340        125        449        529        425      1,253
Other liabilities and accrued                 
  dividends (2)                                 5,987        276      1,941        305        296        682        495        542        216        155        202        293        584
   
    Total liabilities                         844,337     38,914    306,108     34,534     32,735     69,380     79,643     70,975     27,952     16,421     29,217     40,539     97,920
                              
Capital                    
Capital paid in                                15,328        396      3,727      1,810      1,087      4,097      1,276        858        166        276        176        211      1,247
Surplus                                        10,554        309      1,604        723        996      3,238        872        838        124        235        166        121      1,328
Other capital                                   4,848        114      2,121        771        113        872        447         91         53         51         27        108         80
     Total liabilities and capital            875,068     39,733    313,560     37,839     34,931     77,588     82,238     72,762     28,295     16,983     29,586     40,979    100,575
                              

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 27, 2006
              
Federal Reserve notes outstanding             959,287
   Less: Notes held by F.R. Banks
         not subject to collateralization     176,554
      Federal Reserve Notes to be
         collateralized                       782,733 
Collateral held against Federal Reserve            
   notes                                      782,733
   Gold certificate account                    11,037
   Special drawing rights                 
     certificate account                        2,200
   U.S. Treasury and agency securities   
     pledged (1)                              769,496
   Other assets pledged                             0

Memo:
Total U.S. Treasury and agency 
       securities (1)                         814,938
   Less:face value of securities under
         reverse repurchase agreements         32,171
      U.S. Treasury and agency securities
             eligible to be pledged           782,767
   

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.