H.4.1 Factors Affecting Reserve Balances of Depository Institutions

FEDERAL RESERVE statistical release H.4.1 Factors Affecting Reserve Balances of Depository Institutions and Condition Statement of Federal Reserve Banks January 4, 2007 1. Factors Affecting Reserve Balances of Depository Institutions Millions of dollars Reserve Bank credit, related items, and Averages of daily figures reserve balances of depository institutions Week ended Change from week ended Wednesday at Federal Reserve Banks Jan 3, 2007 Dec 27, 2006 Jan 4, 2006 Jan 3, 2007 Reserve Bank credit 859,453 + 7,256 + 26,663 859,699 Securities held outright 778,916 - 35 + 35,085 778,910 U.S. Treasury1 778,916 - 35 + 35,085 778,910 Bills2 277,019 0 + 5,749 277,019 Notes and bonds, nominal2 467,864 0 + 18,647 467,864 Notes and bonds, inflation-indexed2 30,105 0 + 10,122 30,105 Inflation compensation3 3,928 - 36 + 568 3,922 Federal agency2 0 0 0 0 Repurchase agreements4 40,857 + 7,821 - 7,893 39,750 Loans to depository institutions 233 + 84 + 169 1,262 Primary credit 180 + 116 + 173 1,239 Secondary credit 0 0 0 0 Seasonal credit 54 - 31 - 3 23 Float -204 - 1,086 - 1,053 632 Other Federal Reserve assets 39,650 + 470 + 354 39,145 Gold stock 11,041 0 - 2 11,041 Special drawing rights certificate account 2,200 0 0 2,200 Treasury currency outstanding5 38,259 + 14 + 1,719 38,259 Total factors supplying reserve funds 910,953 + 7,270 + 28,381 911,198 Currency in circulation5 819,856 + 2,986 + 26,221 818,550 Reverse repurchase agreements6 29,545 - 964 - 886 29,742 Foreign official and international accounts 29,545 - 964 - 886 29,742 Dealers 0 0 0 0 Treasury cash holdings 253 + 23 + 51 263 Deposits with F.R. Banks, other than reserve balances 12,733 + 299 - 2,338 13,341 U.S. Treasury, general account 5,027 - 213 + 293 6,156 Foreign official 94 + 2 + 9 90 Service-related 6,856 + 20 - 1,794 6,856 Required clearing balances 6,842 + 6 - 1,808 6,842 Adjustments to compensate for float 14 + 14 + 14 14 Other 755 + 489 - 847 239 Other liabilities and capital 36,312 - 512 + 5,420 36,065 Total factors, other than reserve balances, absorbing reserve funds 898,698 + 1,831 + 28,467 897,962 Reserve balances with Federal Reserve Banks 12,254 + 5,438 - 87 13,237 Memo (off-balance-sheet items): Marketable securities held in custody for foreign official and international accounts2,7 1,763,030 + 10,928 + 239,487 1,768,586 U.S. Treasury 1,162,289 + 6,404 + 66,304 1,167,132 Federal agency 600,741 + 4,524 + 173,183 601,455 Securities lent to dealers 7,347 + 4,022 + 3,652 8,225 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.

H.4.1 2. Consolidated Statement of Condition of All Federal Reserve Banks Millions of dollars Change since Eliminations from Assets, liabilities, and capital consolidation Wednesday Wednesday Wednesday Jan 3, 2007 Dec 27, 2006 Jan 4, 2006 Assets Gold certificate account 11,037 0 - 2 Special drawing rights certificate account 2,200 0 0 Coin 797 - 3 + 114 Securities, repurchase agreements, and loans 819,921 + 4,495 + 30,514 Securities held outright 778,910 - 28 + 36,040 U.S. Treasury1 778,910 - 28 + 36,040 Bills2 277,019 0 + 5,749 Notes and bonds, nominal2 467,864 0 + 19,590 Notes and bonds, inflation-indexed2 30,105 0 + 10,122 Inflation compensation3 3,922 - 29 + 580 Federal agency2 0 0 0 Repurchase agreements4 39,750 + 3,750 - 6,750 Loans 1,262 + 774 + 1,225 Items in process of collection (1,260) 5,472 + 335 - 6,341 Bank premises 1,945 + 1 + 125 Other assets5 37,152 - 197 - 452 Total assets (1,260) 878,524 + 4,630 + 23,958 Liabilities Federal Reserve notes, net of F.R. Bank holdings 781,347 - 1,386 + 24,813 Reverse repurchase agreements6 29,742 - 2,384 + 2,175 Deposits (0) 26,529 + 8,938 - 3,574 Depository institutions 20,044 + 7,272 - 5,791 U.S. Treasury, general account 6,156 + 1,686 + 2,234 Foreign official 90 - 2 + 9 Other (0) 239 - 19 - 26 Deferred availability cash items (1,260) 4,840 + 113 - 4,561 Other liabilities and accrued dividends7 5,461 - 526 + 1,551 Total liabilities (1,260) 847,920 + 4,757 + 20,405 Capital accounts Capital paid in 15,328 0 + 1,786 Surplus 15,029 + 4,475 + 2,124 Other capital accounts 248 - 4,600 - 356 Total capital 30,604 - 127 + 3,553 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. 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, January 3, 2007 Millions of dollars U.S. Treasury Federal agency Reverse securities1 securities Repurchase Maturity Loans repurchase Weekly Weekly agreements2 Holdings Holdings agreements2 changes changes Within 15 days 1,247 51,356 - 6,201 0 0 39,750 29,742 16 days to 90 days 15 170,177 + 6,715 0 0 0 0 91 days to 1 year 0 184,284 - 1,311 0 0 . . . . . . Over 1 year to 5 years . . . 224,972 + 787 0 0 . . . . . . Over 5 years to 10 years . . . 67,644 - 6 0 0 . . . . . . Over 10 years . . . 80,477 - 12 0 0 . . . . . . All 1,262 778,910 - 28 0 0 39,750 29,742 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.

H.4.1 4. Statement of Condition of Each Federal Reserve Bank on January 3, 2007 Millions of dollars Kansas San Assets, liabilities, and capital Total Boston New York Philadelphia Cleveland Richmond Atlanta Chicago St. Louis Minneapolis Dallas City Francisco Assets Gold certificate account 11,0 3 7 4 8 6 4,1 3 9 4 6 3 4 4 6 8 5 3 1,0 2 3 9 4 7 3 2 8 2 1 1 3 2 4 5 7 5 1,242 Special drawing rights certificate acct. 2,2 0 0 1 1 5 8 7 4 8 3 1 0 4 1 4 7 1 6 6 2 1 2 7 1 3 0 6 6 9 8 234 Coin 7 9 7 2 9 4 9 5 2 7 3 8 0 9 1 1 0 1 3 8 3 1 6 1 7 9 114 Securities, repurchase agreements, and loans 819,9 2 1 37,1 7 4 329,2 6 0 33,8 1 9 33,6 3 3 64,7 0 4 65,2 1 0 71,5 4 8 24,7 4 7 15,8 3 8 22,8 1 3 34,9 5 7 86,218 Securities held outright 778,9 1 0 37,1 6 8 288,2 9 6 33,8 1 7 33,6 3 3 64,7 0 4 65,2 0 8 71,5 1 9 24,7 4 7 15,8 3 5 22,8 0 8 34,9 5 7 86,218 U.S. Treasury1 778,9 1 0 37,1 6 8 288,2 9 6 33,8 1 7 33,6 3 3 64,7 0 4 65,2 0 8 71,5 1 9 24,7 4 7 15,8 3 5 22,8 0 8 34,9 5 7 86,218 Bills2 277,0 1 9 13,2 1 9 102,5 3 2 12,0 2 7 11,9 6 2 23,0 1 2 23,1 9 1 25,4 3 6 8,8 0 1 5,6 3 2 8,1 1 2 12,4 3 2 30,663 Notes and bonds3 501,8 9 1 23,9 4 9 185,7 6 3 21,7 9 0 21,6 7 1 41,6 9 2 42,0 1 7 46,0 8 4 15,9 4 6 10,2 0 3 14,6 9 6 22,5 2 4 55,554 Federal agency2 0 0 0 0 0 0 0 0 0 0 0 0 0 Repurchase agreements4 39,7 5 0 0 39,7 5 0 0 0 0 0 0 0 0 0 0 0 Loans 1,2 6 2 6 1,2 1 4 2 0 0 3 2 8 0 3 5 0 0 Items in process of collection 6,7 3 3 3 0 8 9 4 1,1 3 9 7 3 6 4 4 5 8 4 6 5 2 3 2 1 6 3 3 0 6 4 3 5 0 4 951 Bank premises 1,9 4 5 1 1 7 2 1 1 5 8 1 5 7 1 6 8 2 3 2 2 0 6 7 9 1 1 6 1 5 9 2 6 0 182 Other assets5 37,1 5 2 1,2 4 9 12,1 1 5 1,8 8 2 2,3 0 2 7,0 5 4 2,7 6 9 2,7 9 4 7 5 9 7 1 5 7 3 6 9 6 6 3,811 Interdistrict settlement account 0 + 2 0 1 -27,1 0 5 + 2 8 9 - 2,5 7 3 + 3,3 8 1 +11,0 5 4 - 3,4 9 6 + 2,0 0 4 + 1 6 9 + 4,7 5 0 + 3,3 8 5 + 7,940 Total assets 879,7 8 4 39,6 7 9 319,6 3 6 37,7 8 5 34,8 7 8 76,8 3 1 81,3 9 1 72,8 3 4 28,2 4 3 17,4 4 0 29,5 5 2 40,8 2 2 100,692 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.

H.4.1 4. Statement of Condition of Each Federal Reserve Bank on January 3, 2007 (continued) Millions of dollars Kansas San Assets, liabilities, and capital Total Boston New York Philadelphia Cleveland Richmond Atlanta Chicago St. Louis Minneapolis Dallas City Francisco Liabilities Federal Reserve notes outstanding 958,5 0 8 39,1 4 6 342,4 0 3 38,7 0 0 36,3 8 9 75,1 8 0 97,5 1 9 80,1 9 9 29,1 9 9 17,4 6 5 30,7 8 4 56,7 8 3 114,740 Less: notes held by F.R. Banks 177,1 6 1 3,2 1 0 57,1 9 3 7,1 5 8 6,7 2 4 11,4 9 3 24,2 4 7 14,3 3 7 3,1 4 2 2,5 5 6 3,7 5 8 19,3 4 5 23,996 Federal Reserve notes, net 781,3 4 7 35,9 3 6 285,2 1 0 31,5 4 2 29,6 6 5 63,6 8 7 73,2 7 2 65,8 6 2 26,0 5 7 14,9 0 9 27,0 2 6 37,4 3 8 90,744 Reverse repurchase agreements1 29,7 4 2 1,4 1 9 11,0 0 8 1,2 9 1 1,2 8 4 2,4 7 1 2,4 9 0 2,7 3 1 9 4 5 6 0 5 8 7 1 1,3 3 5 3,292 Deposits 26,5 2 9 8 1 7 13,9 1 9 7 3 3 1,0 1 3 1,3 6 9 1,9 1 3 1,5 3 2 5 2 0 7 4 8 5 8 0 7 8 6 2,598 Depository institutions 20,0 4 4 8 0 8 7,5 4 6 7 3 0 1,0 0 9 1,2 9 4 1,9 1 1 1,5 2 9 5 1 4 7 4 7 5 7 8 7 8 5 2,594 U.S. Treasury, general account 6,1 5 6 0 6,1 5 6 0 0 0 0 0 0 0 0 0 0 Foreign official 9 0 1 6 2 2 3 1 1 3 3 0 1 1 0 4 Other 2 3 9 8 1 5 5 1 1 6 5 0 0 6 1 2 0 0 Deferred availability cash items 6,1 0 0 4 4 0 1 2 5 6 4 7 4 6 8 5 6 0 6 7 8 4 6 7 1 6 5 4 8 0 5 3 4 5 4 7 989 Other liabilities and accrued dividends2 5,4 6 1 2 6 2 1,8 1 4 2 4 7 2 6 7 5 3 7 4 6 7 5 0 4 2 1 5 1 4 3 1 8 3 2 8 2 542 Total liabilities 849,1 8 0 38,8 7 5 312,0 7 5 34,4 6 0 32,6 9 7 68,6 2 4 78,8 2 0 71,0 9 6 27,9 0 3 16,8 8 5 29,1 9 3 40,3 8 7 98,166 Capital Capital paid in 15,3 2 8 3 9 6 3,7 2 5 1,8 1 0 1,0 8 7 4,0 9 3 1,2 7 5 8 5 9 1 6 6 2 7 6 1 7 6 2 1 2 1,252 Surplus 15,0 2 9 3 9 6 3,7 2 7 1,5 1 4 1,0 8 7 4,0 9 3 1,2 7 6 8 5 8 1 6 6 2 7 6 1 7 6 2 1 2 1,247 Other capital 2 4 8 1 2 1 0 9 0 8 2 0 2 0 2 2 8 4 6 1 2 27 Total liabilities and capital 879,7 8 4 39,6 7 9 319,6 3 6 37,7 8 5 34,8 7 8 76,8 3 1 81,3 9 1 72,8 3 4 28,2 4 3 17,4 4 0 29,5 5 2 40,8 2 2 100,692 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 Wednesday Federal Reserve notes and collateral Jan 3, 2007 Federal Reserve notes outstanding 958,508 Less: Notes held by F.R. Banks not subject to collateralization 177,161 Federal Reserve notes to be collateralized 781,347 Collateral held against Federal Reserve notes 781,347 Gold certificate account 11,037 Special drawing rights certificate account 2,200 U.S. Treasury and agency securities pledged1 768,111 Other assets pledged 0 Memo: Total U.S. Treasury and agency securities1 818,660 Less: face value of securities under reverse repurchase agreements 29,787 U.S. Treasury and agency securities eligible to be pledged 788,873 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.