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 22, 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 21, 2007 Mar 14, 2007 Mar 22, 2006 Mar 21, 2007 Reserve Bank credit 851,125 - 468 + 30,297 848,973 Securities held outright 780,857 + 24 + 23,616 780,866 U.S. Treasury1 780,857 + 24 + 23,616 780,866 Bills2 277,019 0 + 2,877 277,019 Notes and bonds, nominal2 468,553 0 + 11,376 468,553 Notes and bonds, inflation-indexed2 31,776 0 + 9,130 31,776 Inflation compensation3 3,509 + 24 + 234 3,518 Federal agency2 0 0 0 0 Repurchase agreements4 31,750 - 1,036 + 2,857 29,750 Loans to depository institutions 40 - 13 - 363 29 Primary credit 10 + 5 - 340 1 Secondary credit 0 - 21 0 0 Seasonal credit 30 + 2 - 22 29 Float -603 + 98 - 83 -908 Other Federal Reserve assets 39,081 + 460 + 4,269 39,236 Gold stock 11,041 0 - 3 11,041 Special drawing rights certificate account 2,200 0 0 2,200 Treasury currency outstanding5 38,352 + 14 + 499 38,352 Total factors supplying reserve funds 902,718 - 453 + 30,794 900,566 Currency in circulation5 806,298 - 414 + 17,369 807,207 Reverse repurchase agreements6 39,237 + 1,899 + 14,224 38,497 Foreign official and international accounts 39,237 + 1,899 + 14,224 38,497 Dealers 0 0 0 0 Treasury cash holdings 237 + 18 + 39 270 Deposits with F.R. Banks, other than reserve balances 12,769 + 649 - 756 12,071 U.S. Treasury, general account 5,408 + 370 + 266 4,721 Foreign official 90 - 26 - 82 90 Service-related 7,041 + 352 - 939 7,041 Required clearing balances 7,041 + 352 - 939 7,041 Adjustments to compensate for float 0 0 0 0 Other 229 - 49 - 2 220 Other liabilities and capital 38,784 + 78 + 5,714 38,269 Total factors, other than reserve balances, absorbing reserve funds 897,324 + 2,228 + 36,590 896,314 Reserve balances with Federal Reserve Banks 5,394 - 2,681 - 5,796 4,252 Memo (off-balance-sheet items): Marketable securities held in custody for foreign official and international accounts2,7 1,875,855 + 16,082 + 288,906 1,881,690 U.S. Treasury 1,217,428 + 3,698 + 94,323 1,216,228 Federal agency 658,427 + 12,384 + 194,583 665,462 Securities lent to dealers 1,647 - 626 + 20 1,038 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 21, 2007 Mar 14, 2007 Mar 22, 2006 Assets Gold certificate account 11,037 0 - 3 Special drawing rights certificate account 2,200 0 0 Coin 931 - 21 + 136 Securities, repurchase agreements, and loans 810,646 - 13,223 + 27,438 Securities held outright 780,866 + 24 + 23,609 U.S. Treasury1 780,866 + 24 + 23,609 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 3,518 + 24 + 226 Federal agency2 0 0 0 Repurchase agreements4 29,750 - 13,250 + 4,000 Loans 29 + 2 - 172 Items in process of collection (688) 2,905 - 85 - 1,993 Bank premises 1,974 + 5 + 149 Other assets5 37,260 + 291 + 60 Total assets (688) 866,952 - 13,034 + 25,787 Liabilities Federal Reserve notes, net of F.R. Bank holdings 770,052 - 693 + 17,147 Reverse repurchase agreements6 38,497 - 1,230 + 14,346 Deposits (0) 16,321 - 10,867 - 9,159 Depository institutions 11,290 - 10,456 - 9,481 U.S. Treasury, general account 4,721 - 392 + 307 Foreign official 90 0 + 19 Other (0) 220 - 20 - 3 Deferred availability cash items (688) 3,813 - 143 - 2,279 Other liabilities and accrued dividends7 5,811 + 7 + 1,237 Total liabilities (688) 834,494 - 12,926 + 21,292 Capital accounts Capital paid in 15,857 + 34 + 2,126 Surplus 15,339 0 + 2,438 Other capital accounts 1,262 - 142 - 69 Total capital 32,458 - 108 + 4,495 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 21, 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 29 58,762 + 6,642 0 0 29,750 38,497 16 days to 90 days 0 173,851 - 6,714 0 0 0 0 91 days to 1 year 0 174,608 + 74 0 0 . . . . . . Over 1 year to 5 years . . . 224,576 + 6 0 0 . . . . . . Over 5 years to 10 years . . . 66,546 + 7 0 0 . . . . . . Over 10 years . . . 82,524 + 10 0 0 . . . . . . All 29 780,866 + 24 0 0 29,750 38,497 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 21, 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 3 1 3 7 6 1 6 3 9 9 8 8 9 6 1 1 0 3 8 3 9 7 0 8 7 143 Securities, repurchase agreements, and loans 810,6 4 6 38,6 8 9 300,0 3 1 35,1 9 3 35,0 0 2 67,3 3 8 67,8 6 2 74,4 4 2 25,7 5 5 16,4 8 7 23,7 3 9 36,3 8 0 89,728 Securities held outright 780,8 6 6 37,2 6 2 289,0 2 0 33,9 0 2 33,7 1 8 64,8 6 7 65,3 7 2 71,6 9 9 24,8 0 9 15,8 7 5 22,8 6 5 35,0 4 4 86,434 U.S. Treasury1 780,8 6 6 37,2 6 2 289,0 2 0 33,9 0 2 33,7 1 8 64,8 6 7 65,3 7 2 71,6 9 9 24,8 0 9 15,8 7 5 22,8 6 5 35,0 4 4 86,434 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 4 7 24,0 4 3 186,4 8 8 21,8 7 5 21,7 5 6 41,8 5 5 42,1 8 0 46,2 6 3 16,0 0 8 10,2 4 3 14,7 5 4 22,6 1 2 55,771 Federal agency2 0 0 0 0 0 0 0 0 0 0 0 0 0 Repurchase agreements4 29,7 5 0 1,4 2 0 11,0 1 1 1,2 9 2 1,2 8 5 2,4 7 1 2,4 9 1 2,7 3 2 9 4 5 6 0 5 8 7 1 1,3 3 5 3,293 Loans 2 9 8 0 0 0 0 0 1 1 0 8 2 0 0 Items in process of collection 3,5 9 3 1 3 4 7 9 6 4 9 3 4 5 3 3 0 4 1 4 2 1 5 1 0 2 1 3 4 3 9 3 1 8 5 611 Bank premises 1,9 7 4 1 1 7 2 1 1 5 7 1 5 7 1 7 0 2 3 1 2 0 5 8 2 1 1 6 1 7 8 2 6 0 189 Other assets5 37,2 6 0 1,2 6 6 11,6 7 9 3,1 6 1 2,1 7 8 6,9 4 5 3,0 3 6 2,5 3 6 7 3 3 7 0 3 6 9 0 9 8 8 3,346 Interdistrict settlement account 0 - 2,9 2 4 - 8,5 6 6 - 1,9 5 0 - 5,1 1 5 - 5 7 1 +14,8 7 6 - 4,8 0 6 + 8 4 6 - 8 3 6 + 3,7 2 7 + 2,0 3 3 + 3,287 Total assets 867,6 4 0 37,9 2 0 308,5 0 8 37,7 2 0 33,2 1 6 75,3 0 0 87,7 0 5 73,8 6 1 27,9 5 4 16,8 8 4 29,1 8 7 40,6 0 7 98,779 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 21, 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 964,2 9 6 38,7 2 3 340,3 2 6 37,8 6 9 36,0 5 3 74,3 9 9 107,3 4 5 81,7 4 6 29,3 8 0 17,3 0 3 30,6 6 9 57,1 4 4 113,339 Less: notes held by F.R. Banks 194,2 4 4 4,4 2 9 64,4 4 4 6,7 4 3 7,8 8 6 13,2 3 5 27,6 5 6 14,8 7 7 3,6 5 9 2,5 0 3 4,0 0 1 20,0 5 1 24,759 Federal Reserve notes, net 770,0 5 2 34,2 9 5 275,8 8 2 31,1 2 5 28,1 6 6 61,1 6 3 79,6 8 9 66,8 6 9 25,7 2 1 14,8 0 0 26,6 6 8 37,0 9 3 88,580 Reverse repurchase agreements1 38,4 9 7 1,8 3 7 14,2 4 9 1,6 7 1 1,6 6 2 3,1 9 8 3,2 2 3 3,5 3 5 1,2 2 3 7 8 3 1,1 2 7 1,7 2 8 4,261 Deposits 16,3 2 1 4 3 4 7,7 4 5 3 6 0 5 0 5 1,5 9 3 1,1 6 2 8 7 7 3 2 2 2 3 4 3 8 5 6 6 3 2,041 Depository institutions 11,2 9 0 4 3 2 2,8 1 3 3 5 5 5 0 1 1,5 3 0 1,1 5 9 8 7 5 3 1 0 2 3 3 3 8 3 6 6 2 2,038 U.S. Treasury, general account 4,7 2 1 0 4,7 2 1 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 2 0 0 1 5 1 0 1 5 3 0 0 1 2 0 1 0 0 Deferred availability cash items 4,5 0 1 2 6 7 7 3 6 4 0 3 9 2 5 5 9 4 6 2 2 7 4 1 1 5 2 6 5 4 4 6 2 8 2 726 Other liabilities and accrued dividends2 5,8 1 1 2 6 6 1,8 7 2 2 7 7 2 8 3 6 7 8 5 2 0 5 1 8 2 1 5 1 5 5 1 8 6 2 8 0 562 Total liabilities 835,1 8 2 37,0 9 8 299,8 2 1 34,0 7 4 31,0 0 8 67,1 9 2 85,0 5 6 72,0 7 3 27,5 9 6 16,2 3 7 28,8 1 1 40,0 4 6 96,171 Capital Capital paid in 15,8 5 7 3 9 6 4,2 2 0 1,8 1 0 1,0 9 0 3,9 7 2 1,3 1 2 8 6 3 1 6 8 3 1 7 1 7 9 2 6 5 1,268 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 1,2 6 2 3 0 7 2 9 2 6 3 2 4 2 6 1 6 6 2 4 5 4 2 0 8 4 94 Total liabilities and capital 867,6 4 0 37,9 2 0 308,5 0 8 37,7 2 0 33,2 1 6 75,3 0 0 87,7 0 5 73,8 6 1 27,9 5 4 16,8 8 4 29,1 8 7 40,6 0 7 98,779 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 21, 2007 Federal Reserve notes outstanding 964,296 Less: Notes held by F.R. Banks not subject to collateralization 194,244 Federal Reserve notes to be collateralized 770,052 Collateral held against Federal Reserve notes 770,052 Gold certificate account 11,037 Special drawing rights certificate account 2,200 U.S. Treasury and agency securities pledged1 756,815 Other assets pledged 0 Memo: Total U.S. Treasury and agency securities1 810,616 Less: face value of securities under reverse repurchase agreements 38,569 U.S. Treasury and agency securities eligible to be pledged 772,047 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.