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 15, 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 14, 2007 Mar 7, 2007 Mar 15, 2006 Mar 14, 2007 Reserve Bank credit 851,593 - 164 + 31,542 861,824 Securities held outright 780,833 + 24 + 24,216 780,842 U.S. Treasury1 780,833 + 24 + 24,216 780,842 Bills2 277,019 0 + 2,877 277,019 Notes and bonds, nominal2 468,553 0 + 11,533 468,553 Notes and bonds, inflation-indexed2 31,776 0 + 9,516 31,776 Inflation compensation3 3,485 + 24 + 291 3,494 Federal agency2 0 0 0 0 Repurchase agreements4 32,786 - 571 + 4,250 43,000 Loans to depository institutions 53 + 21 - 6 27 Primary credit 5 - 3 - 5 0 Secondary credit 21 + 21 + 21 0 Seasonal credit 28 + 4 - 21 27 Float -700 - 7 - 1,385 -966 Other Federal Reserve assets 38,621 + 369 + 4,466 38,921 Gold stock 11,041 0 - 3 11,041 Special drawing rights certificate account 2,200 0 0 2,200 Treasury currency outstanding5 38,338 + 14 + 498 38,338 Total factors supplying reserve funds 903,172 - 150 + 32,038 913,403 Currency in circulation5 806,712 - 172 + 16,963 807,904 Reverse repurchase agreements6 37,338 - 1,291 + 12,739 39,727 Foreign official and international accounts 37,338 - 1,291 + 12,739 39,727 Dealers 0 0 0 0 Treasury cash holdings 219 + 14 + 25 231 Deposits with F.R. Banks, other than reserve balances 12,120 + 342 - 848 12,131 U.S. Treasury, general account 5,038 + 313 + 559 5,113 Foreign official 116 + 24 + 17 90 Service-related 6,689 0 - 1,456 6,689 Required clearing balances 6,689 0 - 1,456 6,689 Adjustments to compensate for float 0 0 0 0 Other 278 + 7 + 33 240 Other liabilities and capital 38,706 + 51 + 6,109 38,370 Total factors, other than reserve balances, absorbing reserve funds 895,096 - 1,055 + 34,989 898,363 Reserve balances with Federal Reserve Banks 8,076 + 906 - 2,951 15,040 Memo (off-balance-sheet items): Marketable securities held in custody for foreign official and international accounts2,7 1,859,773 + 11,369 + 264,807 1,870,905 U.S. Treasury 1,213,730 + 3,860 + 80,157 1,217,026 Federal agency 646,043 + 7,509 + 184,650 653,879 Securities lent to dealers 2,273 + 68 - 1,750 2,357 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 14, 2007 Mar 7, 2007 Mar 15, 2006 Assets Gold certificate account 11,037 0 - 3 Special drawing rights certificate account 2,200 0 0 Coin 952 - 25 + 153 Securities, repurchase agreements, and loans 823,869 + 11,758 + 36,846 Securities held outright 780,842 + 24 + 23,629 U.S. Treasury1 780,842 + 24 + 23,629 Bills2 277,019 0 + 2,877 Notes and bonds, nominal2 468,553 0 + 11,376 Notes and bonds, inflation-indexed2 31,776 0 + 9,130 Inflation compensation3 3,494 + 24 + 247 Federal agency2 0 0 0 Repurchase agreements4 43,000 + 11,750 + 13,250 Loans 27 - 16 - 33 Items in process of collection (760) 2,990 - 592 - 3,535 Bank premises 1,969 0 + 147 Other assets5 36,969 + 468 + 218 Total assets (760) 879,986 + 11,610 + 33,826 Liabilities Federal Reserve notes, net of F.R. Bank holdings 770,745 - 110 + 16,859 Reverse repurchase agreements6 39,727 + 1,939 + 15,434 Deposits (0) 27,188 + 10,383 - 2,113 Depository institutions 21,746 + 9,736 - 4,300 U.S. Treasury, general account 5,113 + 664 + 2,269 Foreign official 90 - 6 - 60 Other (0) 240 - 10 - 21 Deferred availability cash items (760) 3,956 - 666 - 2,282 Other liabilities and accrued dividends7 5,804 + 3 + 1,296 Total liabilities (760) 847,420 + 11,550 + 29,195 Capital accounts Capital paid in 15,823 - 137 + 2,118 Surplus 15,339 + 23 + 2,438 Other capital accounts 1,404 + 174 + 76 Total capital 32,566 + 60 + 4,631 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 14, 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 5 52,120 - 1,149 0 0 43,000 39,727 16 days to 90 days 21 180,565 + 1,072 0 0 0 0 91 days to 1 year 0 174,534 + 79 0 0 . . . . . . Over 1 year to 5 years . . . 224,570 + 6 0 0 . . . . . . Over 5 years to 10 years . . . 66,539 + 6 0 0 . . . . . . Over 10 years . . . 82,514 + 10 0 0 . . . . . . All 27 780,842 + 24 0 0 43,000 39,727 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 14, 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 5 2 3 8 6 1 6 4 9 9 9 2 1 0 1 1 1 5 3 9 3 9 7 0 9 1 142 Securities, repurchase agreements, and loans 823,8 6 9 39,3 1 8 304,9 2 6 35,7 6 8 35,5 7 3 68,4 3 7 68,9 6 9 75,6 5 6 26,1 7 5 16,7 5 7 24,1 2 6 36,9 7 3 91,191 Securities held outright 780,8 4 2 37,2 6 1 289,0 1 1 33,9 0 1 33,7 1 7 64,8 6 5 65,3 7 0 71,6 9 7 24,8 0 9 15,8 7 4 22,8 6 5 35,0 4 3 86,432 U.S. Treasury1 780,8 4 2 37,2 6 1 289,0 1 1 33,9 0 1 33,7 1 7 64,8 6 5 65,3 7 0 71,6 9 7 24,8 0 9 15,8 7 4 22,8 6 5 35,0 4 3 86,432 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 503,8 2 3 24,0 4 2 186,4 7 9 21,8 7 4 21,7 5 5 41,8 5 3 42,1 7 8 46,2 6 1 16,0 0 7 10,2 4 2 14,7 5 3 22,6 1 1 55,768 Federal agency2 0 0 0 0 0 0 0 0 0 0 0 0 0 Repurchase agreements4 43,0 0 0 2,0 5 2 15,9 1 5 1,8 6 7 1,8 5 7 3,5 7 2 3,6 0 0 3,9 4 8 1,3 6 6 8 7 4 1,2 5 9 1,9 3 0 4,760 Loans 2 7 5 0 0 0 0 0 1 1 0 9 2 0 0 Items in process of collection 3,7 5 0 1 4 9 8 4 4 9 5 2 9 3 4 1 5 1 7 4 2 6 9 9 9 1 9 9 4 8 2 2 8 8 803 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 36,9 6 9 1,2 4 8 11,5 4 3 3,1 4 7 2,1 6 0 6,9 3 6 3,0 5 1 2,5 0 8 7 3 0 6 9 4 6 7 8 9 7 1 3,304 Interdistrict settlement account 0 - 3,0 1 0 - 4,6 5 3 - 2,1 6 0 - 4,2 8 5 + 3 1 2 +13,2 3 8 - 5,0 8 4 + 5 3 2 - 9 9 6 + 3,3 8 3 + 1,3 6 9 + 1,353 Total assets 880,7 4 6 38,4 6 1 317,1 8 4 37,9 1 7 34,5 4 8 77,3 6 1 86,9 5 3 74,8 2 9 28,0 5 5 17,0 4 9 29,3 0 7 40,6 2 5 98,457 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 14, 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 963,8 6 4 38,8 6 2 340,7 5 2 37,9 4 4 35,9 7 2 74,6 4 6 105,8 5 3 82,0 5 6 29,3 7 2 17,3 2 2 30,7 7 1 56,9 5 1 113,362 Less: notes held by F.R. Banks 193,1 1 8 4,4 5 6 63,5 0 6 6,7 7 8 7,6 2 8 13,1 5 2 27,3 2 1 14,9 6 5 3,6 5 8 2,4 9 5 4,0 8 9 20,0 7 2 24,998 Federal Reserve notes, net 770,7 4 5 34,4 0 6 277,2 4 6 31,1 6 6 28,3 4 5 61,4 9 4 78,5 3 3 67,0 9 1 25,7 1 4 14,8 2 7 26,6 8 2 36,8 7 9 88,364 Reverse repurchase agreements1 39,7 2 7 1,8 9 6 14,7 0 4 1,7 2 5 1,7 1 5 3,3 0 0 3,3 2 6 3,6 4 8 1,2 6 2 8 0 8 1,1 6 3 1,7 8 3 4,397 Deposits 27,1 8 8 7 7 3 14,5 5 4 4 5 0 1,6 0 7 3,2 0 8 1,4 7 7 1,4 7 3 3 7 1 3 4 8 4 4 3 7 7 9 1,704 Depository institutions 21,7 4 6 7 6 5 9,2 2 7 4 4 5 1,6 0 3 3,1 3 5 1,4 7 3 1,4 7 0 3 5 9 3 4 7 4 4 2 7 7 8 1,701 U.S. Treasury, general account 5,1 1 3 0 5,1 1 3 0 0 0 0 0 0 0 0 0 0 Foreign official 9 0 1 6 0 5 3 1 1 3 2 0 1 0 1 3 Other 2 4 0 7 1 5 5 0 1 6 2 0 0 1 2 0 1 0 0 Deferred availability cash items 4,7 1 6 2 9 1 8 4 6 5 9 3 8 0 5 2 8 4 7 9 3 0 1 1 3 1 2 6 2 4 5 3 3 3 7 811 Other liabilities and accrued dividends2 5,8 0 4 2 6 6 1,8 6 2 2 7 7 2 8 4 6 7 5 5 1 2 5 2 3 2 1 7 1 5 6 1 8 7 2 8 2 562 Total liabilities 848,1 8 0 37,6 3 1 308,4 5 1 34,2 7 7 32,3 3 2 69,2 0 6 84,3 2 6 73,0 3 5 27,6 9 5 16,4 0 1 28,9 2 8 40,0 5 9 95,839 Capital Capital paid in 15,8 2 3 3 9 5 4,2 1 9 1,8 1 0 1,0 9 0 3,9 7 2 1,2 7 9 8 6 3 1 6 8 3 1 7 1 7 9 2 6 6 1,266 Surplus 15,3 3 9 3 9 6 3,7 3 8 1,8 1 0 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 1,4 0 4 3 8 7 7 6 2 0 4 0 8 9 7 2 7 2 2 5 5 6 2 4 8 8 104 Total liabilities and capital 880,7 4 6 38,4 6 1 317,1 8 4 37,9 1 7 34,5 4 8 77,3 6 1 86,9 5 3 74,8 2 9 28,0 5 5 17,0 4 9 29,3 0 7 40,6 2 5 98,457 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 14, 2007 Federal Reserve notes outstanding 963,864 Less: Notes held by F.R. Banks not subject to collateralization 193,118 Federal Reserve notes to be collateralized 770,745 Collateral held against Federal Reserve notes 770,745 Gold certificate account 11,037 Special drawing rights certificate account 2,200 U.S. Treasury and agency securities pledged1 757,509 Other assets pledged 0 Memo: Total U.S. Treasury and agency securities1 823,842 Less: face value of securities under reverse repurchase agreements 39,802 U.S. Treasury and agency securities eligible to be pledged 784,040 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.