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 May 3, 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 May 2, 2007 Apr 25, 2007 May 3, 2006 May 2, 2007 Reserve Bank credit 866,926 + 16,947 + 43,871 875,167 Securities held outright 787,183 + 2,396 + 27,489 787,210 U.S. Treasury1 787,183 + 2,396 + 27,489 787,210 Bills2 277,019 0 + 1,649 277,019 Notes and bonds, nominal2 473,150 + 1,436 + 14,877 471,936 Notes and bonds, inflation-indexed2 33,245 + 909 + 10,599 34,459 Inflation compensation3 3,769 + 50 + 365 3,796 Federal agency2 0 0 0 0 Repurchase agreements4 38,750 + 13,786 + 13,679 48,000 Loans to depository institutions 66 - 49 - 72 76 Primary credit 6 - 55 - 19 3 Secondary credit 0 0 0 0 Seasonal credit 60 + 5 - 53 73 Float -297 + 650 + 2,756 -1,135 Other Federal Reserve assets 41,225 + 166 + 20 41,017 Gold stock 11,041 0 0 11,041 Special drawing rights certificate account 2,200 0 0 2,200 Treasury currency outstanding5 38,431 + 14 + 495 38,431 Total factors supplying reserve funds 918,598 + 16,961 + 44,366 926,839 Currency in circulation5 807,377 + 163 + 15,586 809,251 Reverse repurchase agreements6 40,111 + 6,031 + 15,740 41,421 Foreign official and international accounts 35,754 + 1,674 + 11,383 35,671 Dealers 4,357 + 4,357 + 4,357 5,750 Treasury cash holdings 296 - 9 + 115 275 Deposits with F.R. Banks, other than reserve balances 21,782 + 8,334 + 9,330 32,231 U.S. Treasury, general account 14,887 + 8,353 + 9,521 25,350 Foreign official 93 + 1 - 5 93 Service-related 6,510 - 45 - 186 6,510 Required clearing balances 6,510 - 45 - 186 6,510 Adjustments to compensate for float 0 0 0 0 Other 292 + 26 - 1 278 Other liabilities and capital 38,834 - 207 + 5,114 38,317 Total factors, other than reserve balances, absorbing reserve funds 908,400 + 14,313 + 45,884 921,495 Reserve balances with Federal Reserve Banks 10,198 + 2,647 - 1,519 5,345 Memo (off-balance-sheet items): Marketable securities held in custody for foreign official and international accounts2,7 1,926,764 + 8,642 + 314,919 1,929,244 U.S. Treasury 1,227,308 - 709 + 108,223 1,227,729 Federal agency 699,456 + 9,351 + 206,696 701,515 Securities lent to dealers 3,247 + 589 + 1,576 3,639 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 May 2, 2007 Apr 25, 2007 May 3, 2006 Assets Gold certificate account 11,037 0 0 Special drawing rights certificate account 2,200 0 0 Coin 1,073 + 54 + 270 Securities, repurchase agreements, and loans 835,286 + 10,080 + 49,696 Securities held outright 787,210 + 61 + 27,506 U.S. Treasury1 787,210 + 61 + 27,506 Bills2 277,019 0 + 1,649 Notes and bonds, nominal2 471,936 - 2,123 + 13,663 Notes and bonds, inflation-indexed2 34,459 + 2,123 + 11,813 Inflation compensation3 3,796 + 60 + 381 Federal agency2 0 0 0 Repurchase agreements4 48,000 + 10,000 + 22,250 Loans 76 + 19 - 59 Items in process of collection (1,515) 3,984 + 1,277 - 2,378 Bank premises 2,003 + 13 + 168 Other assets5 39,032 - 270 - 154 Total assets (1,515) 894,615 + 11,154 + 47,601 Liabilities Federal Reserve notes, net of F.R. Bank holdings 772,163 + 732 + 14,948 Reverse repurchase agreements6 41,421 + 7,396 + 16,943 Deposits (0) 37,594 + 2,612 + 12,545 Depository institutions 11,873 - 10,493 - 7,535 U.S. Treasury, general account 25,350 + 13,100 + 20,135 Foreign official 93 + 1 - 23 Other (0) 278 + 4 - 32 Deferred availability cash items (1,515) 5,120 + 588 - 1,989 Other liabilities and accrued dividends7 5,892 + 55 + 1,246 Total liabilities (1,515) 862,190 + 11,383 + 43,694 Capital accounts Capital paid in 15,875 + 3 + 2,050 Surplus 15,374 + 12 + 2,473 Other capital accounts 1,176 - 243 - 616 Total capital 32,425 - 228 + 3,907 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, May 2, 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 10 65,945 + 3,174 0 0 48,000 41,421 16 days to 90 days 66 164,712 - 4,995 0 0 0 0 91 days to 1 year 0 171,410 - 3,297 0 0 . . . . . . Over 1 year to 5 years . . . 234,977 + 5,144 0 0 . . . . . . Over 5 years to 10 years . . . 66,901 + 14 0 0 . . . . . . Over 10 years . . . 83,265 + 21 0 0 . . . . . . All 76 787,210 + 61 0 0 48,000 41,421 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 May 2, 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 4 9 4,0 5 3 4 5 5 4 2 8 8 6 9 1,1 1 7 9 0 3 3 2 6 2 0 3 3 3 5 6 1 3 1,286 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 7 3 4 7 7 1 6 9 1 1 2 9 7 1 2 0 1 2 7 4 7 4 7 8 0 1 0 2 156 Securities, repurchase agreements, and loans 835,2 8 6 38,4 9 7 302,4 2 7 36,9 5 0 34,1 7 9 72,3 6 4 77,4 6 6 70,0 8 8 26,7 0 6 16,6 7 1 27,0 4 8 36,6 9 6 96,192 Securities held outright 787,2 1 0 36,2 7 9 285,0 4 7 34,8 2 6 32,2 1 5 68,2 0 6 73,0 1 2 66,0 2 9 25,1 6 0 15,7 0 7 25,4 8 3 34,5 8 7 90,660 U.S. Treasury1 787,2 1 0 36,2 7 9 285,0 4 7 34,8 2 6 32,2 1 5 68,2 0 6 73,0 1 2 66,0 2 9 25,1 6 0 15,7 0 7 25,4 8 3 34,5 8 7 90,660 Bills2 277,0 1 9 12,7 6 7 100,3 0 8 12,2 5 5 11,3 3 6 24,0 0 1 25,6 9 3 23,2 3 5 8,8 5 4 5,5 2 7 8,9 6 7 12,1 7 1 31,903 Notes and bonds3 510,1 9 1 23,5 1 3 184,7 3 9 22,5 7 1 20,8 7 9 44,2 0 4 47,3 1 9 42,7 9 3 16,3 0 6 10,1 7 9 16,5 1 5 22,4 1 6 58,757 Federal agency2 0 0 0 0 0 0 0 0 0 0 0 0 0 Repurchase agreements4 48,0 0 0 2,2 1 2 17,3 8 1 2,1 2 4 1,9 6 4 4,1 5 9 4,4 5 2 4,0 2 6 1,5 3 4 9 5 8 1,5 5 4 2,1 0 9 5,528 Loans 7 6 6 0 0 0 0 2 3 3 1 2 7 1 2 0 4 Items in process of collection 5,4 9 9 2 7 8 3 1 4 6 6 6 7 7 8 5 7 5 2 5 3 8 1 1 4 0 2 7 2 4 8 2 7 4 2 648 Bank premises 2,0 0 3 1 1 7 2 1 2 5 7 1 5 6 1 7 1 2 3 1 2 0 8 8 7 1 1 5 2 0 1 2 6 0 190 Other assets5 39,0 3 2 1,3 2 0 12,1 7 4 3,2 3 7 2,2 2 6 7,1 8 7 3,3 4 8 2,5 6 3 8 0 6 7 3 7 7 9 1 1,0 4 5 3,599 Interdistrict settlement account 0 - 3,0 8 6 + 9,7 3 0 - 2,6 8 1 - 5,0 7 6 - 1 6 0 + 4,1 8 9 - 1 4 7 - 7 1 - 1,1 5 4 + 7 5 0 + 7 4 9 - 3,044 Total assets 896,1 3 0 37,7 3 8 329,5 7 1 38,6 3 6 32,8 0 7 81,5 3 3 87,1 6 1 74,3 3 5 28,1 1 1 16,9 2 1 29,7 5 2 40,3 0 4 99,260 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 May 2, 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 967,2 7 4 38,2 8 6 340,0 4 1 38,3 1 9 35,9 4 5 78,3 0 9 107,7 1 5 81,0 4 8 29,4 2 4 17,3 0 9 30,5 9 8 57,5 5 9 112,722 Less: notes held by F.R. Banks 195,1 1 1 4,3 2 0 63,4 1 4 6,6 2 6 8,5 0 7 12,8 9 2 29,5 0 1 14,3 3 8 3,6 7 6 2,5 0 7 3,8 7 5 21,4 2 8 24,027 Federal Reserve notes, net 772,1 6 3 33,9 6 6 276,6 2 6 31,6 9 3 27,4 3 8 65,4 1 7 78,2 1 4 66,7 1 0 25,7 4 8 14,8 0 2 26,7 2 3 36,1 3 2 88,695 Reverse repurchase agreements1 41,4 2 1 1,9 0 9 14,9 9 8 1,8 3 2 1,6 9 5 3,5 8 9 3,8 4 2 3,4 7 4 1,3 2 4 8 2 6 1,3 4 1 1,8 2 0 4,770 Deposits 37,5 9 4 4 1 4 27,3 1 1 3 8 2 5 9 2 2,5 8 0 1,3 3 2 1,5 2 5 3 1 7 2 2 4 4 2 7 7 2 8 1,762 Depository institutions 11,8 7 3 4 1 2 1,7 1 4 3 7 8 5 8 9 2,4 8 8 1,3 2 9 1,5 2 3 3 1 0 2 1 9 4 2 6 7 2 7 1,758 U.S. Treasury, general account 25,3 5 0 0 25,3 5 0 0 0 0 0 0 0 0 0 0 0 Foreign official 9 3 1 6 3 5 3 1 1 3 2 0 1 0 1 3 Other 2 7 8 1 1 8 4 0 0 8 2 0 0 6 4 1 0 0 Deferred availability cash items 6,6 3 4 3 7 2 1 4 0 8 1 1 6 4 2 1,1 0 3 5 1 4 3 4 0 1 4 5 2 7 5 6 7 1 7 7 1 852 Other liabilities and accrued dividends2 5,8 9 2 2 5 8 1,8 2 5 2 8 8 2 7 8 7 6 4 5 7 7 4 7 9 2 1 5 1 5 0 2 1 0 2 7 3 574 Total liabilities 863,7 0 5 36,9 1 9 320,9 0 0 35,0 0 7 30,6 4 4 73,4 5 3 84,4 8 0 72,5 2 8 27,7 4 9 16,2 7 7 29,3 7 3 39,7 2 3 96,652 Capital Capital paid in 15,8 7 5 3 9 7 4,2 2 0 1,8 1 0 1,0 6 4 3,9 7 2 1,3 1 7 8 7 7 1 7 2 3 1 7 1 8 0 2 7 8 1,272 Surplus 15,3 7 4 3 9 6 3,7 7 1 1,8 1 0 1,0 8 7 4,0 9 5 1,2 7 6 8 5 9 1 6 6 2 7 6 1 7 6 2 1 3 1,247 Other capital 1,1 7 6 2 6 6 8 0 9 1 2 1 3 8 7 7 1 2 4 5 2 2 3 9 0 89 Total liabilities and capital 896,1 3 0 37,7 3 8 329,5 7 1 38,6 3 6 32,8 0 7 81,5 3 3 87,1 6 1 74,3 3 5 28,1 1 1 16,9 2 1 29,7 5 2 40,3 0 4 99,260 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 May 2, 2007 Federal Reserve notes outstanding 967,274 Less: Notes held by F.R. Banks not subject to collateralization 195,111 Federal Reserve notes to be collateralized 772,163 Collateral held against Federal Reserve notes 772,163 Gold certificate account 11,037 Special drawing rights certificate account 2,200 U.S. Treasury and agency securities pledged1 758,926 Other assets pledged 0 Memo: Total U.S. Treasury and agency securities1 835,210 Less: face value of securities under reverse repurchase agreements 41,487 U.S. Treasury and agency securities eligible to be pledged 793,723 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.