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 25, 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 24, 2007 Jan 17, 2007 Jan 25, 2006 Jan 24, 2007 Reserve Bank credit 837,092 - 8,944 + 25,135 837,197 Securities held outright 778,880 - 11 + 32,952 778,875 U.S. Treasury1 778,880 - 11 + 32,952 778,875 Bills2 277,019 0 + 4,185 277,019 Notes and bonds, nominal2 467,864 0 + 18,475 467,864 Notes and bonds, inflation-indexed2 30,587 + 344 + 10,156 30,587 Inflation compensation3 3,410 - 355 + 136 3,406 Federal agency2 0 0 0 0 Repurchase agreements4 18,607 - 8,893 - 7,036 19,000 Loans to depository institutions 319 + 35 + 280 26 Primary credit 298 + 33 + 288 5 Secondary credit 0 0 0 0 Seasonal credit 21 + 2 - 7 21 Float -541 - 338 - 650 -1,093 Other Federal Reserve assets 39,827 + 263 - 412 40,389 Gold stock 11,041 0 - 2 11,041 Special drawing rights certificate account 2,200 0 0 2,200 Treasury currency outstanding5 38,275 + 14 + 1,736 38,275 Total factors supplying reserve funds 888,608 - 8,930 + 26,868 888,713 Currency in circulation5 803,339 - 4,566 + 21,276 802,917 Reverse repurchase agreements6 29,410 - 1,076 + 5,834 29,419 Foreign official and international accounts 29,410 - 1,076 + 5,834 29,419 Dealers 0 0 0 0 Treasury cash holdings 220 - 22 + 11 216 Deposits with F.R. Banks, other than reserve balances 12,366 + 365 - 2,112 12,643 U.S. Treasury, general account 5,112 + 426 - 202 5,412 Foreign official 109 + 19 + 27 90 Service-related 6,837 - 79 - 1,873 6,837 Required clearing balances 6,837 - 79 - 1,873 6,837 Adjustments to compensate for float 0 0 0 0 Other 308 - 2 - 64 303 Other liabilities and capital 37,024 + 321 + 5,595 37,103 Total factors, other than reserve balances, absorbing reserve funds 882,360 - 4,977 + 30,605 882,298 Reserve balances with Federal Reserve Banks 6,248 - 3,953 - 3,737 6,415 Memo (off-balance-sheet items): Marketable securities held in custody for foreign official and international accounts2,7 1,779,311 + 6,860 + 242,441 1,784,974 U.S. Treasury 1,169,180 + 1,368 + 64,856 1,169,406 Federal agency 610,131 + 5,492 + 177,585 615,568 Securities lent to dealers 1,667 + 484 - 604 952 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 24, 2007 Jan 17, 2007 Jan 25, 2006 Assets Gold certificate account 11,037 0 - 2 Special drawing rights certificate account 2,200 0 0 Coin 984 + 76 + 214 Securities, repurchase agreements, and loans 797,901 - 2,492 + 26,283 Securities held outright 778,875 - 12 + 32,287 U.S. Treasury1 778,875 - 12 + 32,287 Bills2 277,019 0 + 4,185 Notes and bonds, nominal2 467,864 0 + 17,799 Notes and bonds, inflation-indexed2 30,587 0 + 10,156 Inflation compensation3 3,406 - 11 + 148 Federal agency2 0 0 0 Repurchase agreements4 19,000 - 750 - 6,000 Loans 26 - 1,730 - 4 Items in process of collection (801) 3,118 - 6,214 - 2,468 Bank premises 1,949 + 5 + 126 Other assets5 38,396 + 990 - 226 Total assets (801) 855,585 - 7,634 + 23,926 Liabilities Federal Reserve notes, net of F.R. Bank holdings 765,838 - 3,820 + 19,385 Reverse repurchase agreements6 29,419 - 1,636 + 7,728 Deposits (0) 19,013 - 629 - 6,832 Depository institutions 13,208 - 505 - 6,915 U.S. Treasury, general account 5,412 - 121 + 146 Foreign official 90 0 + 9 Other (0) 303 - 4 - 71 Deferred availability cash items (801) 4,211 - 2,177 - 2,187 Other liabilities and accrued dividends7 5,551 + 49 + 1,515 Total liabilities (801) 824,033 - 8,213 + 19,609 Capital accounts Capital paid in 15,332 0 + 1,781 Surplus 15,092 + 26 + 2,191 Other capital accounts 1,128 + 553 + 345 Total capital 31,552 + 579 + 4,317 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 24, 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 26 58,154 + 1,215 0 0 19,000 29,419 16 days to 90 days 0 162,832 - 726 0 0 0 0 91 days to 1 year 0 184,901 - 490 0 0 . . . . . . Over 1 year to 5 years . . . 222,742 - 3 0 0 . . . . . . Over 5 years to 10 years . . . 69,783 + 2,246 0 0 . . . . . . Over 10 years . . . 80,464 - 2,253 0 0 . . . . . . All 26 778,875 - 12 0 0 19,000 29,419 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 24, 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 9 8 4 3 9 6 6 6 7 9 5 9 3 1 1 0 1 2 1 4 4 3 9 7 4 9 5 141 Securities, repurchase agreements, and loans 797,9 0 1 37,1 7 6 307,2 8 5 33,8 1 7 33,6 3 2 64,7 0 1 65,2 0 6 71,5 2 1 24,7 4 6 15,8 3 8 22,8 1 1 34,9 5 5 86,214 Securities held outright 778,8 7 5 37,1 6 7 288,2 8 3 33,8 1 5 33,6 3 2 64,7 0 1 65,2 0 5 71,5 1 6 24,7 4 6 15,8 3 4 22,8 0 7 34,9 5 5 86,214 U.S. Treasury1 778,8 7 5 37,1 6 7 288,2 8 3 33,8 1 5 33,6 3 2 64,7 0 1 65,2 0 5 71,5 1 6 24,7 4 6 15,8 3 4 22,8 0 7 34,9 5 5 86,214 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 5 7 23,9 4 8 185,7 5 1 21,7 8 8 21,6 7 0 41,6 8 9 42,0 1 4 46,0 8 0 15,9 4 5 10,2 0 2 14,6 9 5 22,5 2 3 55,551 Federal agency2 0 0 0 0 0 0 0 0 0 0 0 0 0 Repurchase agreements4 19,0 0 0 0 19,0 0 0 0 0 0 0 0 0 0 0 0 0 Loans 2 6 1 0 2 1 0 0 1 5 0 4 4 0 0 Items in process of collection 3,9 1 9 1 7 5 1 3 6 3 9 8 3 3 8 4 0 6 3 2 7 1 9 4 1 0 6 3 9 3 4 1 2 2 9 5 739 Bank premises 1,9 4 9 1 1 7 2 1 1 5 8 1 5 8 1 6 9 2 3 2 2 0 6 7 9 1 1 6 1 5 9 2 6 0 184 Other assets5 38,3 9 6 1,2 9 4 12,9 0 0 1,8 8 9 2,3 3 6 7,0 8 7 2,8 2 1 2,8 6 2 7 8 9 7 3 9 7 6 2 1,0 0 8 3,910 Interdistrict settlement account 0 - 6 8 0 -16,2 6 1 - 1 0 6 - 3,3 9 6 + 2,0 1 4 +10,0 5 8 - 2,8 3 7 + 1,6 0 6 - 7 4 1 + 4,0 5 7 + 2,3 0 2 + 3,983 Total assets 856,3 8 6 38,7 2 3 309,3 4 9 36,6 6 9 33,7 1 2 75,4 7 1 79,9 4 2 73,2 2 5 27,7 6 9 16,6 2 4 28,6 6 5 39,5 8 9 96,647 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 24, 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 959,6 7 6 39,1 5 5 341,4 6 6 38,3 3 9 36,2 4 9 75,0 5 9 99,1 8 1 81,9 3 3 29,0 9 8 17,4 2 8 30,8 3 7 56,7 5 0 114,183 Less: notes held by F.R. Banks 193,8 3 8 4,0 2 0 61,3 1 8 7,7 4 7 7,8 1 5 12,8 4 1 26,7 7 0 15,3 3 7 3,4 3 8 2,6 7 0 4,4 6 3 20,3 6 4 27,058 Federal Reserve notes, net 765,8 3 8 35,1 3 5 280,1 4 8 30,5 9 2 28,4 3 4 62,2 1 8 72,4 1 1 66,5 9 6 25,6 6 0 14,7 5 9 26,3 7 4 36,3 8 6 87,125 Reverse repurchase agreements1 29,4 1 9 1,4 0 4 10,8 8 9 1,2 7 7 1,2 7 0 2,4 4 4 2,4 6 3 2,7 0 1 9 3 5 5 9 8 8 6 1 1,3 2 0 3,256 Deposits 19,0 1 3 7 4 7 8,1 9 0 4 1 3 1,0 8 2 1,4 4 4 1,3 9 6 1,3 4 7 4 8 4 2 8 6 4 6 8 8 3 0 2,327 Depository institutions 13,2 0 8 7 1 5 2,5 6 7 4 1 1 1,0 7 8 1,3 2 6 1,3 9 3 1,3 4 4 4 7 6 2 8 5 4 6 6 8 2 5 2,322 U.S. Treasury, general account 5,4 1 2 0 5,4 1 2 0 0 0 0 0 0 0 0 0 0 Foreign official 9 0 1 6 1 2 3 1 1 3 3 0 1 1 0 4 Other 3 0 3 3 1 1 4 9 0 1 1 0 7 0 1 8 0 1 4 0 Deferred availability cash items 5,0 1 2 3 5 6 8 1 7 4 3 4 5 5 5 7 1 5 6 7 3 0 1 1 2 7 2 6 9 4 0 5 3 1 8 819 Other liabilities and accrued dividends2 5,5 5 1 2 5 8 1,8 1 1 2 5 6 2 7 0 5 7 9 5 1 1 5 0 6 2 1 1 1 5 0 1 8 0 2 7 6 544 Total liabilities 824,8 3 4 37,8 9 9 301,1 1 8 33,2 8 2 31,5 1 1 67,2 5 6 77,3 4 8 71,4 5 1 27,4 1 8 16,0 6 1 28,2 8 9 39,1 3 0 94,071 Capital Capital paid in 15,3 3 2 3 9 6 3,7 2 5 1,8 1 0 1,0 8 7 4,0 9 3 1,2 7 4 8 5 9 1 6 7 2 7 6 1 7 8 2 1 5 1,253 Surplus 15,0 9 2 3 9 6 3,7 2 7 1,5 7 7 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 1,1 2 8 3 1 7 8 0 0 2 8 2 8 4 3 5 7 1 8 1 1 2 2 3 2 76 Total liabilities and capital 856,3 8 6 38,7 2 3 309,3 4 9 36,6 6 9 33,7 1 2 75,4 7 1 79,9 4 2 73,2 2 5 27,7 6 9 16,6 2 4 28,6 6 5 39,5 8 9 96,647 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 24, 2007 Federal Reserve notes outstanding 959,676 Less: Notes held by F.R. Banks not subject to collateralization 193,838 Federal Reserve notes to be collateralized 765,838 Collateral held against Federal Reserve notes 765,838 Gold certificate account 11,037 Special drawing rights certificate account 2,200 U.S. Treasury and agency securities pledged1 752,601 Other assets pledged 0 Memo: Total U.S. Treasury and agency securities1 797,875 Less: face value of securities under reverse repurchase agreements 29,462 U.S. Treasury and agency securities eligible to be pledged 768,413 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.