3.12 U.S. RESERVE ASSETS

Millions of dollars, end of period

Asset 2001 2002 2003

2004 2005

Dec. Jan. Feb. Mar. Apr. May June Julyp

1 Total ................................. 68,654 79,006 85,938 86,824 81,366 80,168 78,942 79,526 77,742 76,594 74,620

2 Gold stock1 . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11,045 11,043 11,043 11,045 11,042 11,042 11,041 11,041 11,041 11,041 11,041

3 Special drawing rights2,3 . . . . . . . . . . . . . . . . . 10,774 12,166 12,638 13,582 13,342 11,727 11,564 11,610 11,385 11,243 11,206

4 Reserve position in International Monetary Fund2 . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17,854 21,979 22,535 19,479 15,247 15,336 15,276 15,422 15,406 15,274 13,438

5 Foreign currencies4 . . . . . . . . . . . . . . . . . . . . . 28,981 33,818 39,722 42,718 41,735 42,063 41,061 41,452 39,910 39,036 38,935

Note. The data presented in this table are available in the monthly statistical release ‘‘U.S.

Reserve Assets; Foreign Official Assets Held at Federal Reserve Banks,’’ on the Board’s

website at www. federalreserve.gov/releases.

1. Gold held ‘‘under earmark’’ at Federal Reserve Banks for foreign and international

accounts is not included in the gold stock of the United States; see table 3.13, line 3. Gold

stock is valued at $42.22 per fine troy ounce.

2. Special drawing rights (SDRs) are valued according to a technique adopted by the

International Monetary Fund (IMF) in July 1974. Values are based on a weighted average of

exchange rates for the currencies of member countries. From July 1974 through December

1980, sixteen currencies were used; since January 1981, five currencies have been used. U.S.

SDR holdings and reserve positions in the IMF have also been valued on this basis since July

1974.

3. Includes allocations of SDRs by the International Monetary Fund on Jan. 1 of the year

indicated, as follows: 1970—$867 million; 1971—$717 million; 1972—$710 million; 1979—

$1,139 million; 1980—$1,152 million; 1981—$1,093 million; plus net transactions in SDRs.

4. Valued at current market exchange rates.

3.13 FOREIGN OFFICIAL ASSETS HELD AT FEDERAL RESERVE BANKS1

Millions of dollars, end of period

Asset 2001 2002 2003

2004 2005

Dec. Jan. Feb. Mar. Apr. May June Julyp

1 Deposits .............................. 61 136 162 80 121 86 139 126 105 103 83

Held in custody

2 U.S. Treasury securities2 ................. 592,630 678,106 845,080 1,041,215 1,039,348 1,058,929 1,062,861 1,057,109 1,065,032 1,058,972 1,070,625

3 Earmarked gold3 . . . . . . . . . . . . . . . . . . . . . . . 9,099 9,045 8,971 8,967 8,967 8,967 8,967 8,967 8,967 8,967 8,967

Note. The data presented in this table are available in the monthly statistical release ‘‘U.S.

Reserve Assets; Foreign Official Assets Held at Federal Reserve Banks,’’ on the Board’s

website at www. federalreserve.gov/releases.

1. Excludes deposits and U.S. Treasury securities held for international and regional

organizations.

2. Marketable U.S. Treasury bills, notes, and bonds and nonmarketable U.S. Treasury

securities, in each case measured at face (not market) value.

3. Held in foreign and international accounts and valued at $42.22 per fine troy ounce; not

included in the gold stock of the United States.