FEDERAL RESERVE Statistical Release

H.4.1
Factors Affecting Reserve Balances of Depository Institutions and
Condition Statement of Federal Reserve Banks
                                                                                               May 25, 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           May 24, 2006 May 17, 2006 May 25, 2005 May 24, 2006
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. Treasury (1)                                       760,449    +     272    +  38,261      762,378
       Bills (2)                                            275,370            0    +  11,017      275,370
       Notes and bonds, nominal (2)                         458,932    +     239    +  22,778      460,850
       Notes and bonds, inflation-indexed (2)                22,646            0    +   3,538       22,646
       Inflation compensation (3)                             3,501    +      33    +     928        3,513
    Federal agency (2)                                            0            0            0            0      
 Repurchase agreements(4)                                    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 outstanding (5)                            37,977    +      14    +   1,432       37,977
       
Total factors supplying reserve funds                       874,060    -   1,819    +  37,679      875,459
                                                                   
Currency in circulation(5)                                  793,851    -     129    +  39,585      796,331
Reverse repurchase agreements (6)                            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 accounts(2,7)         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   


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 May 24, 2006     May 17, 2006     May 25, 2005

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. Treasury (1)                                        762,378        +   2,727        +  39,386       
         Bills (2)                                             275,370                0        +  10,855
         Notes and bonds, nominal (2)                          460,850        +   2,695        +  24,069
         Notes and bonds, inflation-indexed (2)                 22,646                0        +   3,538
         Inflation compensation (3)                              3,513        +      33        +     926
      Federal agency (2)                                             0                0                0
   Repurchase agreements (4)                                    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 assets (5)                                                37,254        +     329        +     233
      Total assets                                (1,716)      843,537        +   2,169        +  31,477
                          
Liabilities
Federal Reserve notes net of FR Bank holdings                  759,280        +   1,311        +  37,536
Reverse repurchase agreements (6)                               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 dividends (7)                      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


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,       May 24, 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             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 to 5 years     ------        213,652   +   1,228            0           0     ------      ------
Over 5 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

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       May 24, 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                                             743         35         51         36         75         63         83         81         38         36         60         65        121
Securities, repurchase agreements,
      and loans                              785,057     36,389    304,677     33,099     32,919     63,335     63,835     70,071     24,237     15,533     22,345     34,215     84,400
   Securities held outright                  762,378     36,379    282,177     33,099     32,919     63,331     63,824     70,001     24,222     15,499     22,324     34,215     84,388
      U.S. Treasury (1)                      762,378     36,379    282,177     33,099     32,919     63,331     63,824     70,001     24,222     15,499     22,324     34,215     84,388
         Bills (2)                           275,370     13,140    101,922     11,955     11,890     22,875     23,053     25,284      8,749      5,598      8,063     12,358     30,481
         Notes and bonds(3)                  487,009     23,239    180,255     21,144     21,029     40,456     40,771     44,717     15,473      9,901     14,261     21,856     53,907
         Federal agency (2)                        0          0          0          0          0          0          0          0          0          0          0          0          0
      Repurchase agreements(4)                22,500          0     22,500          0          0          0          0          0          0          0          0          0          0
      Loans                                      179         10          0          0          0          5         12         69         15         35         21          1         12
Items in process of collection                 7,126        493        586        461        796        455        910        407        251        317        608        661      1,180
Bank premises                                  1,836        113        206         56        157        153        231        209         70        118        100        258        166
Other assets(5)                               37,254      1,157     13,410      1,873      2,209      6,839      2,599      2,619        698        674        681        890      3,605
Interdistrict settlement account                   0    - 1,369    +   594    +   765    -   645    + 3,239    + 2,714    - 6,857    -   415    -   195    + 1,600    - 2,602    + 3,170
          Total Assets                       845,253     37,419    324,537     36,835     36,060     75,084     71,563     67,690     25,278     16,725     25,784     34,161     94,118

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       May 24, 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             922,069     38,302    342,035     39,597     36,827     73,846     87,320     74,932     27,493     17,407     27,390     49,191    107,727
  Less: notes held by F.R. Banks              162,789      4,324     45,662      6,801      5,876     12,526     23,251     13,520      4,127      2,407      3,877     18,080     22,338
    Federal Reserve notes, net                759,280     33,978    296,374     32,797     30,952     61,320     64,068     61,412     23,366     15,000     23,513     31,111     85,389
Reverse repurchase agreements (1)              22,803      1,088      8,440        990        985      1,894      1,909      2,094        724        464        668      1,023      2,524
Deposits                                       22,880        966      9,769        729      1,030      2,736      2,114      1,543        550        289        560        688      1,905
  Depository institutions                      17,354        964      4,357        727      1,026      2,647      2,111      1,540        547        288        559        688      1,901
  U.S. Treasury, general account                5,188          0      5,188          0          0          0          0          0          0          0          0          0          0
  Foreign official                                 85          1         56          2          3         11          3          3          0          1          1          0          4
  Other                                           252          1        167          0          1         79          0          0          2          0          1          0          0
Deferred availability cash items                7,143        476        771        575        805        583        891        343        152        350        521        671      1,006
Other liabilities and accrued                 
  dividends (2)                                 4,889        239      1,606        252        241        525        413        446        175        125        155        224        488
   
    Total liabilities                         816,995     36,747    316,960     35,343     34,012     67,059     69,394     65,837     24,967     16,228     25,418     33,718     91,312
                              
Capital                    
Capital paid in                                13,866        324      3,670        729      1,017      4,010      1,063        902        149        242        174        209      1,378
Surplus                                        12,901        317      3,685        744      1,013      3,307        892        876        144        245        175        153      1,349
Other capital                                   1,491         31        222         19         18        708        214         75         18          9         17         81         79
     Total liabilities and capital            845,253     37,419    324,537     36,835     36,060     75,084     71,563     67,690     25,278     16,725     25,784     34,161     94,118
                              

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
                                          May 24, 2006
              
Federal Reserve notes outstanding             922,069
   Less: Notes held by F.R. Banks
         not subject to collateralization     162,789
      Federal Reserve Notes to be
         collateralized                       759,280 
Collateral held against Federal Reserve            
   notes                                      759,280
   Gold certificate account                    11,037
   Special drawing rights                 
     certificate account                        2,200
   U.S. Treasury and agency securities   
     pledged (1)                              746,043
   Other assets pledged                             0

Memo:
Total U.S. Treasury and agency 
       securities (1)                         784,878
   Less:face value of securities under
         reverse repurchase agreements         22,829
      U.S. Treasury and agency securities
             eligible to be pledged           762,049
   

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.