3.12 U.S. RESERVE ASSETS

Millions of dollars, end of period

Asset 2002 2003 2004

2005

Mar. Apr. May June July Aug. Sept. Oct.p

1 Total ................................. 79,006 85,938 86,824 78,942 79,526 77,742 76,594 74,620 72,243 71,273 70,218

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

3 Special drawing rights2,3 . . . . . . . . . . . . . . . . . 12,166 12,638 13,582 11,564 11,610 11,385 11,243 11,206 8,304 8,245 8,224

4 Reserve position in International Monetary Fund2 . . . . . . . . . . . . . . . . . . . . . . . . . . . . 21,979 22,535 19,479 15,276 15,422 15,406 15,274 13,438 13,336 13,245 12,720

5 Foreign currencies4 . . . . . . . . . . . . . . . . . . . . . 33,818 39,722 42,718 41,061 41,452 39,910 39,036 38,935 39,563 38,742 38,234

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 2002 2003 2004

2005

Mar. Apr. May June July Aug. Sept. Oct.

1 Deposits .............................. 136 162 80 139 126 105 103 83 81 96 88

Held in custody

2 U.S. Treasury securities2 ................. 678,106 845,080 1,041,215 1,062,861 1,057,109 1,065,032 1,058,972 1,070,625 1,075,098 1,056,594 1,060,857

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