3.12 U.S. Reserve Assets

Millions of dollars, end of period

Asset 2001 2002 2003

2004 2005

July Aug. Sept. Oct. Nov. Dec. Jan. Feb.p

1 Total ................................. 68,654 79,006 85,938 81,375 82,603 82,578 84,232 86,702 86,822 81,369 80,169

2 Gold stock1 . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11,045 11,043 11,043 11,045 11,044 11,043 11,043 11,043 11,043 11,045 11,042

3 Special drawing rights2,3 . . . . . . . . . . . . . . . . . 10,774 12,166 12,638 12,586 12,710 12,782 13,041 13,478 13,582 13,342 11,727

4 Reserve position in International Monetary Fund2 . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17,854 21,979 22,535 19,393 19,812 19,433 19,530 20,079 19,479 15,247 15,336

5 Foreign currencies4 . . . . . . . . . . . . . . . . . . . . . 28,981 33,818 39,722 38,352 39,037 39,310 40,618 42,102 42,718 41,735 42,063

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 also have 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

July Aug. Sept. Oct. Nov. Dec. Jan. Feb.p

1 Deposits .............................. 61 136 162 81 157 128 91 88 80 121 86

Held in custody

2 U.S. Treasury securities2 ................. 592,630 678,106 845,080 995,923 1,026,155 1,031,322 1,028,945 1,044,531 1,041,215 1,039,348 1,058,929

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.