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 March 8, 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 Mar 7, 2007 Feb 28, 2007 Mar 8, 2006 Mar 7, 2007 Reserve Bank credit 851,757 - 1,710 + 36,379 849,523 Securities held outright 780,809 + 1,362 + 25,857 780,818 U.S. Treasury1 780,809 + 1,362 + 25,857 780,818 Bills2 277,019 0 + 2,877 277,019 Notes and bonds, nominal2 468,553 + 1,341 + 13,083 468,553 Notes and bonds, inflation-indexed2 31,776 0 + 9,580 31,776 Inflation compensation3 3,461 + 20 + 317 3,470 Federal agency2 0 0 0 0 Repurchase agreements4 33,357 - 2,929 + 7,678 31,250 Loans to depository institutions 32 - 1 - 30 43 Primary credit 8 - 3 - 12 16 Secondary credit 0 0 0 0 Seasonal credit 24 + 3 - 18 27 Float -692 - 252 - 1,542 -1,040 Other Federal Reserve assets 38,252 + 111 + 4,417 38,452 Gold stock 11,041 0 - 3 11,041 Special drawing rights certificate account 2,200 0 0 2,200 Treasury currency outstanding5 38,332 + 14 + 506 38,332 Total factors supplying reserve funds 903,330 - 1,695 + 36,881 901,095 Currency in circulation5 806,892 + 240 + 17,824 807,997 Reverse repurchase agreements6 38,629 - 83 + 14,412 37,788 Foreign official and international accounts 38,629 - 83 + 14,412 37,788 Dealers 0 0 0 0 Treasury cash holdings 205 + 4 + 18 217 Deposits with F.R. Banks, other than reserve balances 11,778 + 23 - 1,748 11,483 U.S. Treasury, general account 4,725 + 51 - 303 4,449 Foreign official 92 + 1 + 7 96 Service-related 6,689 - 49 - 1,454 6,689 Required clearing balances 6,689 - 49 - 1,454 6,689 Adjustments to compensate for float 0 0 0 0 Other 271 + 19 + 2 250 Other liabilities and capital 38,655 + 586 + 6,141 38,307 Total factors, other than reserve balances, absorbing reserve funds 896,160 + 770 + 36,648 895,792 Reserve balances with Federal Reserve Banks 7,170 - 2,465 + 233 5,304 Memo (off-balance-sheet items): Marketable securities held in custody for foreign official and international accounts2,7 1,848,404 + 15,034 + 256,698 1,852,372 U.S. Treasury 1,209,870 + 9,357 + 73,269 1,211,761 Federal agency 638,534 + 5,678 + 183,428 640,611 Securities lent to dealers 2,205 - 177 + 385 1,272 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 Mar 7, 2007 Feb 28, 2007 Mar 8, 2006 Assets Gold certificate account 11,037 0 - 3 Special drawing rights certificate account 2,200 0 0 Coin 977 - 8 + 157 Securities, repurchase agreements, and loans 812,111 - 13,954 + 29,992 Securities held outright 780,818 + 25 + 25,242 U.S. Treasury1 780,818 + 25 + 25,242 Bills2 277,019 0 + 2,877 Notes and bonds, nominal2 468,553 0 + 12,476 Notes and bonds, inflation-indexed2 31,776 0 + 9,580 Inflation compensation3 3,470 + 24 + 310 Federal agency2 0 0 0 Repurchase agreements4 31,250 - 14,000 + 4,750 Loans 43 + 21 0 Items in process of collection (1,180) 3,582 + 542 - 4,529 Bank premises 1,969 - 5 + 148 Other assets5 36,501 + 535 + 294 Total assets (1,180) 868,376 - 12,891 + 26,057 Liabilities Federal Reserve notes, net of F.R. Bank holdings 770,855 - 103 + 17,067 Reverse repurchase agreements6 37,788 - 1,857 + 13,978 Deposits (0) 16,805 - 11,659 - 8,917 Depository institutions 12,010 - 10,896 - 8,546 U.S. Treasury, general account 4,449 - 745 - 402 Foreign official 96 + 5 + 10 Other (0) 250 - 24 + 20 Deferred availability cash items (1,180) 4,622 + 569 - 2,260 Other liabilities and accrued dividends7 5,801 + 104 + 1,335 Total liabilities (1,180) 835,870 - 12,947 + 21,202 Capital accounts Capital paid in 15,960 + 7 + 2,230 Surplus 15,316 + 34 + 2,415 Other capital accounts 1,230 + 16 + 211 Total capital 32,506 + 56 + 4,856 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, March 7, 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 21 53,269 - 992 0 0 31,250 37,788 16 days to 90 days 22 179,493 + 8,490 0 0 0 0 91 days to 1 year 0 174,455 - 2,812 0 0 . . . . . . Over 1 year to 5 years . . . 224,564 - 4,678 0 0 . . . . . . Over 5 years to 10 years . . . 66,533 + 7 0 0 . . . . . . Over 10 years . . . 82,504 + 10 0 0 . . . . . . All 43 780,818 + 25 0 0 31,250 37,788 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 March 7, 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 7 7 3 9 6 6 6 6 9 8 9 6 1 0 4 1 1 6 4 1 4 0 7 2 9 4 145 Securities, repurchase agreements, and loans 812,1 1 1 38,7 5 6 300,5 7 5 35,2 5 7 35,0 6 5 67,4 5 9 67,9 8 4 74,5 7 4 25,8 0 1 16,5 1 8 23,7 8 2 36,4 5 3 89,888 Securities held outright 780,8 1 8 37,2 5 9 289,0 0 2 33,9 0 0 33,7 1 5 64,8 6 3 65,3 6 8 71,6 9 5 24,8 0 8 15,8 7 4 22,8 6 4 35,0 4 2 86,429 U.S. Treasury1 780,8 1 8 37,2 5 9 289,0 0 2 33,9 0 0 33,7 1 5 64,8 6 3 65,3 6 8 71,6 9 5 24,8 0 8 15,8 7 4 22,8 6 4 35,0 4 2 86,429 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 503,7 9 9 24,0 4 0 186,4 7 0 21,8 7 3 21,7 5 4 41,8 5 1 42,1 7 6 46,2 5 9 16,0 0 7 10,2 4 2 14,7 5 2 22,6 1 0 55,766 Federal agency2 0 0 0 0 0 0 0 0 0 0 0 0 0 Repurchase agreements4 31,2 5 0 1,4 9 1 11,5 6 6 1,3 5 7 1,3 4 9 2,5 9 6 2,6 1 6 2,8 6 9 9 9 3 6 3 5 9 1 5 1,4 0 2 3,459 Loans 4 3 5 7 0 0 0 0 1 1 0 9 3 8 0 Items in process of collection 4,7 6 2 2 4 8 6 8 2 7 4 5 1 9 5 7 7 5 6 5 1 9 5 1 2 4 3 3 9 4 3 6 4 5 6 961 Bank premises 1,9 6 9 1 1 7 2 1 0 5 7 1 5 7 1 7 0 2 3 1 2 0 6 8 1 1 1 6 1 7 8 2 5 9 187 Other assets5 36,5 0 1 1,2 2 7 11,3 5 5 3,1 9 9 2,1 3 6 6,8 5 8 2,9 8 8 2,4 6 5 7 0 9 6 8 8 6 6 9 9 5 3 3,253 Interdistrict settlement account 0 - 2,6 0 7 - 8,0 6 7 - 1,7 2 0 - 4,5 6 3 + 8 4 7 +13,0 7 8 - 4,4 6 3 + 8 5 5 - 8 3 2 + 3,6 6 2 + 1,7 6 0 + 2,050 Total assets 869,5 5 6 38,3 8 1 309,2 2 1 37,6 7 8 33,9 6 1 77,0 0 7 86,1 3 8 74,2 5 3 28,0 1 1 17,1 1 0 29,1 8 9 40,6 4 7 97,960 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 March 7, 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 963,6 7 7 38,9 3 1 340,9 1 4 37,8 6 7 36,0 4 7 74,7 5 6 104,9 0 2 82,1 7 1 29,3 5 0 17,3 3 9 30,7 9 8 57,0 5 1 113,550 Less: notes held by F.R. Banks 192,8 2 2 4,3 4 4 63,6 1 0 6,8 9 0 7,4 4 9 13,1 2 2 26,8 9 9 14,9 6 1 3,5 6 2 2,4 8 2 4,2 0 4 20,0 7 0 25,228 Federal Reserve notes, net 770,8 5 5 34,5 8 6 277,3 0 4 30,9 7 7 28,5 9 8 61,6 3 4 78,0 0 3 67,2 1 0 25,7 8 8 14,8 5 8 26,5 9 4 36,9 8 1 88,322 Reverse repurchase agreements1 37,7 8 8 1,8 0 3 13,9 8 6 1,6 4 1 1,6 3 2 3,1 3 9 3,1 6 3 3,4 7 0 1,2 0 1 7 6 8 1,1 0 7 1,6 9 6 4,183 Deposits 16,8 0 5 5 1 5 7,2 4 3 4 4 0 6 2 8 2,7 3 7 1,1 3 6 9 2 9 3 3 2 3 8 6 4 2 3 6 3 4 1,401 Depository institutions 12,0 1 0 5 0 6 2,5 6 8 4 3 5 6 2 5 2,6 6 1 1,1 3 2 9 2 7 3 1 9 3 8 5 4 2 1 6 3 3 1,398 U.S. Treasury, general account 4,4 4 9 0 4,4 4 9 0 0 0 0 0 0 0 0 0 0 Foreign official 9 6 1 6 5 5 3 1 1 3 2 0 1 0 1 3 Other 2 5 0 8 1 6 1 0 1 6 6 0 0 1 2 0 1 0 0 Deferred availability cash items 5,8 0 2 3 8 6 1 0 6 7 4 9 6 1 1 5 9 8 6 8 4 3 4 3 1 1 9 3 0 5 4 9 6 5 1 5 889 Other liabilities and accrued dividends2 5,8 0 1 2 6 6 1,8 5 7 2 7 3 2 7 9 6 6 7 5 4 0 5 1 6 2 1 7 1 5 4 1 9 5 2 8 0 558 Total liabilities 837,0 5 0 37,5 5 6 300,4 9 7 34,0 7 9 31,7 4 8 68,7 7 4 83,5 2 6 72,4 6 8 27,6 5 6 16,4 7 0 28,8 1 4 40,1 0 7 95,354 Capital Capital paid in 15,9 6 0 3 9 5 4,2 1 9 1,8 1 0 1,0 9 0 4,1 1 1 1,2 7 9 8 6 1 1 6 8 3 1 7 1 7 9 2 6 6 1,266 Surplus 15,3 1 6 3 9 6 3,7 3 8 1,7 8 8 1,0 8 7 4,0 9 4 1,2 7 6 8 5 9 1 6 6 2 7 6 1 7 6 2 1 2 1,247 Other capital 1,2 3 0 3 4 7 6 7 0 3 7 2 8 5 7 6 5 2 0 4 7 2 0 6 2 94 Total liabilities and capital 869,5 5 6 38,3 8 1 309,2 2 1 37,6 7 8 33,9 6 1 77,0 0 7 86,1 3 8 74,2 5 3 28,0 1 1 17,1 1 0 29,1 8 9 40,6 4 7 97,960 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 Mar 7, 2007 Federal Reserve notes outstanding 963,677 Less: Notes held by F.R. Banks not subject to collateralization 192,822 Federal Reserve notes to be collateralized 770,855 Collateral held against Federal Reserve notes 770,855 Gold certificate account 11,037 Special drawing rights certificate account 2,200 U.S. Treasury and agency securities pledged1 757,618 Other assets pledged 0 Memo: Total U.S. Treasury and agency securities1 812,068 Less: face value of securities under reverse repurchase agreements 37,856 U.S. Treasury and agency securities eligible to be pledged 774,212 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.