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 February 1, 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 31, 2007 Jan 24, 2007 Feb 1, 2006 Jan 31, 2007 Reserve Bank credit 844,206 + 7,114 + 29,860 851,098 Securities held outright 778,868 - 12 + 30,196 778,863 U.S. Treasury1 778,868 - 12 + 30,196 778,863 Bills2 277,019 0 + 4,182 277,019 Notes and bonds, nominal2 467,694 - 170 + 16,023 466,675 Notes and bonds, inflation-indexed2 30,757 + 170 + 9,821 31,776 Inflation compensation3 3,398 - 12 + 169 3,393 Federal agency2 0 0 0 0 Repurchase agreements4 25,500 + 6,893 + 107 32,000 Loans to depository institutions 210 - 109 + 170 1,326 Primary credit 189 - 109 + 178 1,309 Secondary credit 0 0 0 0 Seasonal credit 22 + 1 - 7 18 Float -941 - 400 - 759 -1,482 Other Federal Reserve assets 40,569 + 742 + 146 40,391 Gold stock 11,041 0 - 2 11,041 Special drawing rights certificate account 2,200 0 0 2,200 Treasury currency outstanding5 38,289 + 14 + 1,750 38,289 Total factors supplying reserve funds 895,736 + 7,128 + 31,608 902,628 Currency in circulation5 800,843 - 2,496 + 19,823 802,635 Reverse repurchase agreements6 31,706 + 2,296 + 7,895 32,379 Foreign official and international accounts 31,706 + 2,296 + 7,895 32,379 Dealers 0 0 0 0 Treasury cash holdings 210 - 10 - 5 175 Deposits with F.R. Banks, other than reserve balances 12,268 - 98 - 1,916 13,264 U.S. Treasury, general account 5,055 - 57 - 62 6,053 Foreign official 90 - 19 + 7 90 Service-related 6,835 - 2 - 1,875 6,835 Required clearing balances 6,835 - 2 - 1,875 6,835 Adjustments to compensate for float 0 0 0 0 Other 287 - 21 + 13 285 Other liabilities and capital 37,417 + 393 + 5,931 36,727 Total factors, other than reserve balances, absorbing reserve funds 882,443 + 83 + 31,728 885,179 Reserve balances with Federal Reserve Banks 13,293 + 7,045 - 120 17,449 Memo (off-balance-sheet items): Marketable securities held in custody for foreign official and international accounts2,7 1,790,193 + 10,882 + 250,155 1,791,200 U.S. Treasury 1,173,303 + 4,123 + 71,665 1,176,156 Federal agency 616,890 + 6,759 + 178,490 615,043 Securities lent to dealers 1,289 - 378 - 2,424 3,513 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 31, 2007 Jan 24, 2007 Feb 1, 2006 Assets Gold certificate account 11,037 0 - 3 Special drawing rights certificate account 2,200 0 0 Coin 1,069 + 85 + 259 Securities, repurchase agreements, and loans 812,189 + 14,288 + 40,293 Securities held outright 778,863 - 12 + 30,023 U.S. Treasury1 778,863 - 12 + 30,023 Bills2 277,019 0 + 4,165 Notes and bonds, nominal2 466,675 - 1,189 + 16,095 Notes and bonds, inflation-indexed2 31,776 + 1,189 + 9,580 Inflation compensation3 3,393 - 13 + 183 Federal agency2 0 0 0 Repurchase agreements4 32,000 + 13,000 + 9,000 Loans 1,326 + 1,300 + 1,271 Items in process of collection (829) 2,729 - 389 - 5,779 Bank premises 1,962 + 13 + 138 Other assets5 38,373 - 23 - 13 Total assets (829) 869,559 + 13,974 + 34,896 Liabilities Federal Reserve notes, net of F.R. Bank holdings 765,586 - 252 + 17,408 Reverse repurchase agreements6 32,379 + 2,960 + 9,199 Deposits (0) 30,657 + 11,644 + 5,752 Depository institutions 24,228 + 11,020 + 4,822 U.S. Treasury, general account 6,053 + 641 + 958 Foreign official 90 0 + 7 Other (0) 285 - 18 - 36 Deferred availability cash items (829) 4,211 0 - 3,242 Other liabilities and accrued dividends7 5,568 + 17 + 1,466 Total liabilities (829) 838,400 + 14,367 + 30,582 Capital accounts Capital paid in 15,358 + 26 + 1,800 Surplus 15,127 + 35 + 2,248 Other capital accounts 674 - 454 + 266 Total capital 31,159 - 393 + 4,314 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 31, 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 1,325 56,075 - 2,079 0 0 32,000 32,379 16 days to 90 days 1 169,534 + 6,702 0 0 0 0 91 days to 1 year 0 179,349 - 5,552 0 0 . . . . . . Over 1 year to 5 years . . . 222,478 - 264 0 0 . . . . . . Over 5 years to 10 years . . . 69,780 - 3 0 0 . . . . . . Over 10 years . . . 81,647 + 1,183 0 0 . . . . . . All 1,326 778,863 - 12 0 0 32,000 32,379 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 31, 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 1,0 6 9 4 2 7 3 7 0 1 0 3 1 0 5 1 1 9 1 3 0 4 8 4 5 8 1 9 9 155 Securities, repurchase agreements, and loans 812,1 8 9 37,1 7 5 321,0 3 2 33,8 1 5 34,0 7 9 64,7 0 0 65,3 0 4 71,5 1 9 24,7 4 7 15,8 3 8 22,8 0 8 34,9 5 4 86,217 Securities held outright 778,8 6 3 37,1 6 6 288,2 7 8 33,8 1 5 33,6 3 1 64,7 0 0 65,2 0 4 71,5 1 5 24,7 4 6 15,8 3 4 22,8 0 7 34,9 5 4 86,212 U.S. Treasury1 778,8 6 3 37,1 6 6 288,2 7 8 33,8 1 5 33,6 3 1 64,7 0 0 65,2 0 4 71,5 1 5 24,7 4 6 15,8 3 4 22,8 0 7 34,9 5 4 86,212 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 4 4 23,9 4 7 185,7 4 6 21,7 8 8 21,6 6 9 41,6 8 8 42,0 1 3 46,0 7 9 15,9 4 4 10,2 0 2 14,6 9 5 22,5 2 2 55,549 Federal agency2 0 0 0 0 0 0 0 0 0 0 0 0 0 Repurchase agreements4 32,0 0 0 0 32,0 0 0 0 0 0 0 0 0 0 0 0 0 Loans 1,3 2 6 9 7 5 4 0 4 4 8 0 1 0 0 4 1 4 1 0 5 Items in process of collection 3,5 5 8 1 7 9 6 1 5 4 3 3 5 4 3 9 5 3 2 1 2 1 0 1 1 8 1 7 3 4 7 3 2 1 1 519 Bank premises 1,9 6 2 1 1 7 2 1 1 5 8 1 5 7 1 7 1 2 3 1 2 0 6 8 2 1 1 6 1 6 7 2 6 0 186 Other assets5 38,3 7 3 1,2 9 3 12,8 7 7 1,8 8 6 2,3 3 2 7,0 9 3 2,8 2 8 2,8 6 4 7 9 8 7 3 8 7 6 7 1,0 0 8 3,890 Interdistrict settlement account 0 - 3 4 1 -23,9 7 4 - 4 0 - 3,5 3 2 + 4,0 7 7 +11,7 1 3 - 1,6 9 3 + 1,7 7 9 + 8 8 5 + 4,1 5 5 + 2,6 7 5 + 4,297 Total assets 870,3 8 8 39,0 6 7 315,2 9 4 36,8 7 7 34,0 4 3 77,5 4 0 81,7 0 5 74,3 9 3 27,9 7 1 18,0 3 6 28,8 4 0 39,8 8 0 96,742 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 31, 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 960,1 2 8 39,0 8 0 341,1 0 1 38,2 3 7 36,1 0 7 75,1 8 8 100,0 5 2 82,4 0 2 29,1 2 3 17,4 1 0 30,8 0 4 56,6 9 7 113,927 Less: notes held by F.R. Banks 194,5 4 2 3,9 6 9 62,4 7 2 7,5 9 6 7,5 7 0 13,0 0 6 27,0 0 0 15,2 2 0 3,4 1 6 2,6 2 9 4,4 0 0 20,2 4 9 27,016 Federal Reserve notes, net 765,5 8 6 35,1 1 2 278,6 3 0 30,6 4 1 28,5 3 7 62,1 8 2 73,0 5 2 67,1 8 2 25,7 0 7 14,7 8 1 26,4 0 4 36,4 4 7 86,911 Reverse repurchase agreements1 32,3 7 9 1,5 4 5 11,9 8 4 1,4 0 6 1,3 9 8 2,6 9 0 2,7 1 1 2,9 7 3 1,0 2 9 6 5 8 9 4 8 1,4 5 3 3,584 Deposits 30,6 5 7 9 8 1 15,0 4 0 4 5 7 1,1 3 9 3,2 0 6 2,2 5 0 1,6 5 9 5 4 7 1,6 2 3 5 7 1 8 6 2 2,322 Depository institutions 24,2 2 8 9 7 7 8,7 6 0 4 5 4 1,1 3 5 3,0 9 4 2,2 4 7 1,6 5 6 5 3 5 1,6 2 2 5 6 9 8 5 9 2,318 U.S. Treasury, general account 6,0 5 3 0 6,0 5 3 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 2 8 5 3 1 6 6 1 0 1 0 1 0 0 1 1 0 1 2 0 Deferred availability cash items 5,0 4 0 3 4 9 1 0 1 7 0 6 5 0 1 6 2 3 5 6 9 2 9 2 1 1 9 2 6 2 3 5 1 3 8 5 781 Other liabilities and accrued dividends2 5,5 6 8 2 6 1 1,8 1 2 2 5 8 2 7 4 5 8 1 5 1 3 5 0 5 2 1 3 1 4 6 1 8 8 2 7 5 542 Total liabilities 839,2 3 0 38,2 4 8 307,5 6 8 33,4 6 7 31,8 4 8 69,2 8 2 79,0 9 4 72,6 1 1 27,6 1 5 17,4 7 0 28,4 6 2 39,4 2 3 94,140 Capital Capital paid in 15,3 5 8 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 7 1 7 8 2 1 5 1,277 Surplus 15,1 2 7 3 9 6 3,7 3 8 1,6 0 0 1,0 8 7 4,0 9 4 1,2 7 6 8 5 8 1 6 6 2 7 6 1 7 6 2 1 2 1,247 Other capital 6 7 4 2 6 2 6 3 0 2 2 7 1 6 0 6 5 2 2 1 2 2 4 3 1 77 Total liabilities and capital 870,3 8 8 39,0 6 7 315,2 9 4 36,8 7 7 34,0 4 3 77,5 4 0 81,7 0 5 74,3 9 3 27,9 7 1 18,0 3 6 28,8 4 0 39,8 8 0 96,742 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 31, 2007 Federal Reserve notes outstanding 960,128 Less: Notes held by F.R. Banks not subject to collateralization 194,542 Federal Reserve notes to be collateralized 765,586 Collateral held against Federal Reserve notes 765,586 Gold certificate account 11,037 Special drawing rights certificate account 2,200 U.S. Treasury and agency securities pledged1 752,349 Other assets pledged 0 Memo: Total U.S. Treasury and agency securities1 810,863 Less: face value of securities under reverse repurchase agreements 32,428 U.S. Treasury and agency securities eligible to be pledged 778,435 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.