3.12 U.S. Reserve Assets

Millions of dollars, end of period

Asset 2001 2002 2003

2004

Jan. Feb. Mar. Apr. May June July Aug.p

1 Total ................................. 68,654 79,006 85,938 85,255 84,741 85,192 82,090 82,804 82,652 81,375 82,603

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

3 Special drawing rights2,3 . . . . . . . . . . . . . . . . . 10,774 12,166 12,638 12,598 12,687 12,691 12,445 12,682 12,659 12,586 12,710

4 Reserve position in International Monetary Fund2 . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17,854 21,979 22,535 21,887 21,819 21,642 20,322 20,297 20,076 19,393 19,812

5 Foreign currencies4 . . . . . . . . . . . . . . . . . . . . . 28,981 33,818 39,722 39,727 39,190 39,814 38,279 38,780 38,873 38,352 39,037

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 web

site 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 1974through 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

Jan. Feb. Mar. Apr. May June July Aug.p

1 Deposits .............................. 61 136 162 84 82 93 96 86 280 81 157

Held in custody

2 U.S. Treasury securities2 ................. 592,630 678,106 845,080 869,829 898,244 908,656 949,941 969,157 991,142 995,923 1,026,155

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

site 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.