FEDERAL RESERVE Statistical Release

H.4.1
Factors Affecting Reserve Balances of Depository Institutions and
Condition Statement of Federal Reserve Banks
                                                                                               May 18, 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 17, 2006 May 10, 2006 May 18, 2005 May 17, 2006
Federal Reserve Banks

Reserve Bank Credit                                         824,687    +       1    +  37,129      821,463
 Securities held outright                                   760,177    +     452    +  38,566      759,651       
    U.S. Treasury (1)                                       760,177    +     452    +  38,566      759,651
       Bills (2)                                            275,370            0    +  11,086      275,370
       Notes and bonds, nominal (2)                         458,693    +     420    +  23,010      458,155
       Notes and bonds, inflation-indexed (2)                22,646            0    +   3,538       22,646
       Inflation compensation (3)                             3,468    +      32    +     933        3,480
    Federal agency (2)                                            0            0            0            0      
 Repurchase agreements(4)                                    23,750    +     250    -   2,821       21,500
 Loans to depository institutions                               168    -       6    +      26          178
    Primary credit                                               20    -      20    +      18           21
    Secondary credit                                              0            0            0            0
    Seasonal credit                                             149    +      15    +      10          157
 Float                                                         -237    +      68    +   1,023        1,250
 Other Federal Reserve assets                                40,828    -     764    +     335       38,884
Gold stock                                                   11,041            0            0       11,041
Special drawing rights certificate account                    2,200            0            0        2,200
Treasury currency outstanding (5)                            37,963    +      14    +   1,418       37,963
       
Total factors supplying reserve funds                       875,891    +      15    +  38,547      872,667
                                                                   
Currency in circulation(5)                                  793,980    +     247    +  39,693      794,985
Reverse repurchase agreements (6)                            23,657    -   2,319    -   4,397       22,569
   Foreign official and international accounts               23,657    -   2,319    -   4,397       22,569
   Dealers                                                        0            0            0            0
Treasury cash holdings                                          181    +       3    -      74          185
Deposits with F.R.Banks, other than reserve balances         12,970    +     727    -     990       12,810       
  U.S. Treasury, general account                              5,192    +      41    -      17        5,055
  Foreign official                                              105    +       8    +      21           85
  Service-related                                             7,366    +     670    -     974        7,366
     Required clearing balances                               7,366    +     670    -     974        7,366
     Adjustments to compensate for float                          0            0            0            0
  Other                                                         308    +       9    -      19          304
Other liabilities and capital                                33,897    +     118    +   5,077       33,049

Total factors, other than reserve balances,                                        
   absorbing reserve funds                                  864,686    -   1,222    +  39,310      863,597

Reserve balances with Federal Reserve Banks                  11,205    +   1,237    -     763        9,070
                                                                

Memo (off-balance-sheet items):
  Marketable securities held in custody for foreign
         official and international accounts(2,7)         1,624,415    +   3,409    + 220,331    1,619,910
     U.S. Treasury                                        1,125,054    +     301    +  50,847    1,120,764
     Federal agency                                         499,361    +   3,108    + 169,484      499,146
  Securities lent to dealers                                  1,600    +     592    -   1,703        1,792   


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 17, 2006     May 10, 2006     May 18, 2005

Assets
Gold certificate account                                        11,037                0                0
Special drawing rights certificate account                       2,200                0                0
Coin                                                               767        -      14        +     111
Securities, repurchase agreements, and loans                   781,329        +     707        +  35,809
   Securities held outright                                    759,651        -      86        +  38,022
      U.S. Treasury (1)                                        759,651        -      86        +  38,022       
         Bills (2)                                             275,370                0        +  11,082
         Notes and bonds, nominal (2)                          458,155        -     118        +  22,472
         Notes and bonds, inflation-indexed (2)                 22,646                0        +   3,538
         Inflation compensation (3)                              3,480        +      32        +     931
      Federal agency (2)                                             0                0                0
   Repurchase agreements (4)                                    21,500        +   1,000        -   2,250    
   Loans                                                           178        -     207        +      37
Items in process of collection                    (1,496)        7,274        +   2,222        +   1,780
Bank premises                                                    1,836                0        +      21
Other assets (5)                                                36,925        -   3,093        +     219
      Total assets                                (1,496)      841,368        -     178        +  37,940
                          
Liabilities
Federal Reserve notes net of FR Bank holdings                  757,969        -     497        +  38,695
Reverse repurchase agreements (6)                               22,569        -   1,966        -   3,610
Deposits                                              (0)       21,758        +   2,461        -   1,099       
  Depository institutions                                       16,313        +   2,329        -   1,078
  U.S. Treasury, general account                                 5,055        +     124        -      25
  Foreign official                                                  85                0        -      27
  Other                                               (0)          304        +       8        +      31
Deferred availability cash items                  (1,496)        6,024        +     204        -     313
Other liabilities and accrued dividends (7)                      4,740        +      54        +   1,390
      Total liabilities                           (1,496)      813,059        +     255        +  35,062
                          
Capital Accounts
Capital paid in                                                 13,859        +      11        +     950
Surplus                                                         12,901                0        +   1,508
Other capital accounts                                           1,549        -     443        +     421
      Total capital                                             28,309        -     433        +   2,878


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 17, 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       64,454   -   2,320            0           0       21,500       22,569
16 days to 90 days          14      164,067   -     860            0           0            0            0
91 days to 1 year            0      180,967   +   4,582            0           0     ------      ------
Over 1 to 5 years     ------        212,424   -   3,802            0           0     ------      ------
Over 5 to 10 years    ------         55,397   +       5            0           0     ------      ------
Over 10 years         ------         82,342   +   2,309            0           0     ------      ------
                   		 	
All                        178      759,651   -      86            0           0       21,500      22,569

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 17, 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                                             767         37         53         39         76         65         84         85         40         37         62         68        121
Securities, repurchase agreements,
      and loans                              781,329     36,259    302,669     32,981     32,801     63,104     63,603     69,818     24,155     15,474     22,263     34,093     84,109
   Securities held outright                  759,651     36,249    281,167     32,981     32,801     63,104     63,596     69,751     24,135     15,443     22,244     34,092     84,086
      U.S. Treasury (1)                      759,651     36,249    281,167     32,981     32,801     63,104     63,596     69,751     24,135     15,443     22,244     34,092     84,086
         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)                  484,281     23,109    179,246     21,025     20,911     40,229     40,542     44,467     15,386      9,845     14,181     21,734     53,605
         Federal agency (2)                        0          0          0          0          0          0          0          0          0          0          0          0          0
      Repurchase agreements(4)                21,500          0     21,500          0          0          0          0          0          0          0          0          0          0
      Loans                                      178          9          1          0          0          0          7         67         20         31         19          1         23
Items in process of collection                 8,770        442        560        487        688        674      1,875      1,066        261        286        578        424      1,428
Bank premises                                  1,836        113        206         56        156        153        231        209         70        118        100        258        166
Other assets(5)                               36,925      1,145     13,298      1,765      2,213      6,859      2,561      2,580        714        674        672        875      3,570
Interdistrict settlement account                   0    - 1,379    +   330    + 1,086    -   577    + 3,227    + 1,284    - 6,967    -   368    +   227    + 1,758    - 2,326    + 3,705
          Total Assets                       842,863     37,216    322,128     36,959     35,908     75,083     70,827     67,949     25,271     17,058     25,823     34,066     94,575

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       May 17, 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             920,561     38,436    340,604     39,589     36,836     73,926     86,632     75,253     27,541     17,472     27,457     49,063    107,753
  Less: notes held by F.R. Banks              162,593      4,443     44,922      7,002      5,748     12,668     23,087     13,667      4,187      2,451      3,982     18,109     22,327
    Federal Reserve notes, net                757,969     33,994    295,682     32,587     31,088     61,258     63,546     61,585     23,354     15,021     23,475     30,953     85,426
Reverse repurchase agreements (1)              22,569      1,077      8,353        980        975      1,875      1,889      2,072        717        459        661      1,013      2,498
Deposits                                       21,758        800      8,112        913        914      2,839      1,944      1,636        516        558        557        739      2,230
  Depository institutions                      16,313        794      2,829        910        910      2,705      1,941      1,633        513        557        556        739      2,226
  U.S. Treasury, general account                5,055          0      5,055          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                                           304          5        171          0          1        123          0          0          2          0          1          0          0
Deferred availability cash items                7,520        438        816        761        646        567        874        372        195        399        613        698      1,140
Other liabilities and accrued                 
  dividends (2)                                 4,740        232      1,571        224        236        499        402        431        173        124        153        220        475
   
    Total liabilities                         814,555     36,541    314,534     35,464     33,858     67,037     68,655     66,097     24,956     16,561     25,459     33,624     91,770
                              
Capital                    
Capital paid in                                13,859        324      3,671        729      1,015      4,011      1,061        901        149        242        174        209      1,373
Surplus                                        12,901        317      3,685        744      1,013      3,307        892        876        144        245        175        153      1,349
Other capital                                   1,549         34        239         22         22        727        219         75         22         10         15         81         83
     Total liabilities and capital            842,863     37,216    322,128     36,959     35,908     75,083     70,827     67,949     25,271     17,058     25,823     34,066     94,575
                              

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
                                          May 17, 2006
              
Federal Reserve notes outstanding             920,561
   Less: Notes held by F.R. Banks
         not subject to collateralization     162,593
      Federal Reserve Notes to be
         collateralized                       757,969 
Collateral held against Federal Reserve            
   notes                                      757,969
   Gold certificate account                    11,037
   Special drawing rights                 
     certificate account                        2,200
   U.S. Treasury and agency securities   
     pledged (1)                              744,732
   Other assets pledged                             0

Memo:
Total U.S. Treasury and agency 
       securities (1)                         781,151
   Less:face value of securities under
         reverse repurchase agreements         22,594
      U.S. Treasury and agency securities
             eligible to be pledged           758,557
   

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.