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 10, 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 9, 2007 May 2, 2007 May 10, 2006 May 9, 2007 Reserve Bank credit 853,506 - 13,418 + 28,822 860,545 Securities held outright 789,796 + 2,613 + 30,071 790,025 U.S. Treasury1 789,796 + 2,613 + 30,071 790,025 Bills2 277,019 0 + 1,649 277,019 Notes and bonds, nominal2 474,473 + 1,323 + 16,200 474,672 Notes and bonds, inflation-indexed2 34,459 + 1,214 + 11,813 34,459 Inflation compensation3 3,846 + 77 + 410 3,875 Federal agency2 0 0 0 0 Repurchase agreements4 22,821 - 15,929 - 679 29,000 Loans to depository institutions 75 + 9 - 99 82 Primary credit 5 - 1 - 35 7 Secondary credit 0 0 0 0 Seasonal credit 70 + 10 - 64 75 Float -476 - 176 - 171 -36 Other Federal Reserve assets 41,289 + 64 - 302 41,474 Gold stock 11,041 0 0 11,041 Special drawing rights certificate account 2,200 0 0 2,200 Treasury currency outstanding5 38,441 + 14 + 494 38,441 Total factors supplying reserve funds 905,189 - 13,403 + 29,317 912,227 Currency in circulation5 808,696 + 1,322 + 14,965 810,478 Reverse repurchase agreements6 36,019 - 4,092 + 10,043 35,410 Foreign official and international accounts 36,019 + 265 + 10,043 35,410 Dealers 0 - 4,357 0 0 Treasury cash holdings 269 - 27 + 91 231 Deposits with F.R. Banks, other than reserve balances 11,785 - 9,997 - 458 11,590 U.S. Treasury, general account 4,914 - 9,973 - 237 4,726 Foreign official 93 0 - 4 93 Service-related 6,509 - 1 - 187 6,509 Required clearing balances 6,509 - 1 - 187 6,509 Adjustments to compensate for float 0 0 0 0 Other 268 - 24 - 31 261 Other liabilities and capital 38,801 - 33 + 5,022 38,546 Total factors, other than reserve balances, absorbing reserve funds 895,569 - 12,828 + 29,663 896,255 Reserve balances with Federal Reserve Banks 9,620 - 575 - 346 15,972 Memo (off-balance-sheet items): Marketable securities held in custody for foreign official and international accounts2,7 1,931,132 + 4,368 + 310,126 1,937,411 U.S. Treasury 1,228,032 + 724 + 103,279 1,227,971 Federal agency 703,100 + 3,644 + 206,847 709,440 Securities lent to dealers 3,044 - 203 + 2,036 1,675 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 9, 2007 May 2, 2007 May 10, 2006 Assets Gold certificate account 11,037 0 0 Special drawing rights certificate account 2,200 0 0 Coin 1,016 - 57 + 235 Securities, repurchase agreements, and loans 819,107 - 16,179 + 38,485 Securities held outright 790,025 + 2,815 + 30,288 U.S. Treasury1 790,025 + 2,815 + 30,288 Bills2 277,019 0 + 1,649 Notes and bonds, nominal2 474,672 + 2,736 + 16,399 Notes and bonds, inflation-indexed2 34,459 0 + 11,813 Inflation compensation3 3,875 + 79 + 427 Federal agency2 0 0 0 Repurchase agreements4 29,000 - 19,000 + 8,500 Loans 82 + 6 - 303 Items in process of collection (943) 4,144 + 160 - 908 Bank premises 2,006 + 3 + 170 Other assets5 39,489 + 457 - 529 Total assets (943) 878,998 - 15,617 + 37,452 Liabilities Federal Reserve notes, net of F.R. Bank holdings 773,279 + 1,116 + 14,813 Reverse repurchase agreements6 35,410 - 6,011 + 10,875 Deposits (0) 27,583 - 10,011 + 8,286 Depository institutions 22,503 + 10,630 + 8,519 U.S. Treasury, general account 4,726 - 20,624 - 205 Foreign official 93 0 + 8 Other (0) 261 - 17 - 35 Deferred availability cash items (943) 4,179 - 941 - 1,641 Other liabilities and accrued dividends7 5,906 + 14 + 1,220 Total liabilities (943) 846,358 - 15,832 + 33,554 Capital accounts Capital paid in 15,891 + 16 + 2,043 Surplus 15,374 0 + 2,473 Other capital accounts 1,375 + 199 - 617 Total capital 32,640 + 215 + 3,898 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 9, 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 19 68,357 + 2,412 0 0 29,000 35,410 16 days to 90 days 63 162,882 - 1,830 0 0 0 0 91 days to 1 year 0 170,832 - 578 0 0 . . . . . . Over 1 year to 5 years . . . 237,737 + 2,760 0 0 . . . . . . Over 5 years to 10 years . . . 66,921 + 20 0 0 . . . . . . Over 10 years . . . 83,296 + 31 0 0 . . . . . . All 82 790,025 + 2,815 0 0 29,000 35,410 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 9, 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 1 6 4 4 6 5 6 4 1 0 2 9 4 1 1 3 1 2 2 4 5 4 4 7 6 9 6 152 Securities, repurchase agreements, and loans 819,1 0 7 37,7 5 3 296,5 6 7 36,2 3 4 33,5 1 7 70,9 6 2 75,9 6 5 68,7 2 6 26,1 9 3 16,3 5 5 26,5 2 6 35,9 8 5 94,325 Securities held outright 790,0 2 5 36,4 0 9 286,0 6 6 34,9 5 1 32,3 3 0 68,4 4 9 73,2 7 3 66,2 6 5 25,2 5 0 15,7 6 3 25,5 7 4 34,7 1 1 90,984 U.S. Treasury1 790,0 2 5 36,4 0 9 286,0 6 6 34,9 5 1 32,3 3 0 68,4 4 9 73,2 7 3 66,2 6 5 25,2 5 0 15,7 6 3 25,5 7 4 34,7 1 1 90,984 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 513,0 0 6 23,6 4 2 185,7 5 8 22,6 9 6 20,9 9 4 44,4 4 8 47,5 8 0 43,0 2 9 16,3 9 6 10,2 3 6 16,6 0 6 22,5 4 0 59,081 Federal agency2 0 0 0 0 0 0 0 0 0 0 0 0 0 Repurchase agreements4 29,0 0 0 1,3 3 6 10,5 0 1 1,2 8 3 1,1 8 7 2,5 1 3 2,6 9 0 2,4 3 2 9 2 7 5 7 9 9 3 9 1,2 7 4 3,340 Loans 8 2 7 0 0 0 0 2 2 9 1 6 1 4 1 3 0 1 Items in process of collection 5,0 8 7 2 2 0 1 7 2 6 5 2 8 1 0 2 1 7 6 0 8 2 6 0 1 0 9 1 9 5 3 2 0 7 9 0 735 Bank premises 2,0 0 6 1 1 7 2 1 2 5 7 1 5 6 1 7 2 2 3 1 2 0 8 8 7 1 1 5 2 0 1 2 6 0 190 Other assets5 39,4 8 9 1,3 4 1 12,3 3 0 3,2 5 4 2,2 4 6 7,2 1 9 3,4 0 2 2,6 0 1 8 2 1 7 5 0 8 0 6 1,0 6 8 3,651 Interdistrict settlement account 0 - 2,2 8 0 + 2,2 2 2 - 1,2 4 8 - 4,1 1 3 - 9 7 + 5,1 3 6 + 6 7 8 + 3 0 9 - 6 2 6 + 1,1 6 3 + 1,0 1 6 - 2,161 Total assets 879,9 4 1 37,7 5 8 316,4 9 5 39,5 5 2 33,2 5 0 79,5 8 2 86,7 3 8 73,7 0 9 27,9 6 0 17,0 6 6 29,4 9 3 39,9 2 6 98,412 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 9, 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 968,1 3 3 38,2 3 6 340,8 8 5 38,8 5 3 35,8 7 6 78,3 2 4 107,5 1 9 80,9 5 2 29,4 3 1 17,2 9 4 30,6 1 3 57,4 4 6 112,703 Less: notes held by F.R. Banks 194,8 5 3 4,2 9 1 63,3 0 8 6,6 0 7 8,5 8 9 12,9 3 6 29,5 2 3 14,3 4 1 3,6 2 9 2,5 2 4 3,8 0 7 21,3 2 7 23,970 Federal Reserve notes, net 773,2 7 9 33,9 4 5 277,5 7 7 32,2 4 6 27,2 8 7 65,3 8 8 77,9 9 5 66,6 1 1 25,8 0 3 14,7 6 9 26,8 0 6 36,1 1 9 88,733 Reverse repurchase agreements1 35,4 1 0 1,6 3 2 12,8 2 2 1,5 6 7 1,4 4 9 3,0 6 8 3,2 8 4 2,9 7 0 1,1 3 2 7 0 7 1,1 4 6 1,5 5 6 4,078 Deposits 27,5 8 3 7 9 7 15,4 7 2 8 7 7 1,4 1 3 1,8 5 2 1,6 9 2 1,4 9 4 3 3 2 5 1 1 5 0 4 1,0 2 8 1,611 Depository institutions 22,5 0 3 7 9 5 10,5 0 7 8 7 2 1,4 1 0 1,7 6 1 1,6 8 9 1,4 9 2 3 2 9 5 0 9 5 0 2 1,0 2 8 1,608 U.S. Treasury, general account 4,7 2 6 0 4,7 2 6 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 6 1 1 1 7 6 0 0 8 0 0 0 2 1 1 0 0 Deferred availability cash items 5,1 2 2 2 9 2 9 1 9 2 3 6 3 9 3 8 7 4 7 3 3 3 3 1 1 2 2 7 7 4 5 3 3 5 9 782 Other liabilities and accrued dividends2 5,9 0 6 2 5 7 1,8 2 0 2 9 0 2 8 0 7 6 9 5 9 2 4 8 1 2 1 5 1 5 4 1 9 9 2 7 2 577 Total liabilities 847,3 0 1 36,9 2 3 307,7 8 2 35,9 0 4 31,0 6 8 71,4 6 4 84,0 3 7 71,8 9 0 27,5 9 3 16,4 1 8 29,1 0 7 39,3 3 5 95,781 Capital Capital paid in 15,8 9 1 4 0 3 4,2 2 1 1,8 0 9 1,0 6 5 3,9 7 2 1,3 1 7 8 8 1 1 7 2 3 1 7 1 8 1 2 7 8 1,274 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 1,3 7 5 3 6 7 2 0 2 9 3 0 5 1 1 0 8 7 9 2 9 5 5 2 8 1 0 0 110 Total liabilities and capital 879,9 4 1 37,7 5 8 316,4 9 5 39,5 5 2 33,2 5 0 79,5 8 2 86,7 3 8 73,7 0 9 27,9 6 0 17,0 6 6 29,4 9 3 39,9 2 6 98,412 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 9, 2007 Federal Reserve notes outstanding 968,133 Less: Notes held by F.R. Banks not subject to collateralization 194,853 Federal Reserve notes to be collateralized 773,279 Collateral held against Federal Reserve notes 773,279 Gold certificate account 11,037 Special drawing rights certificate account 2,200 U.S. Treasury and agency securities pledged1 760,043 Other assets pledged 0 Memo: Total U.S. Treasury and agency securities1 819,025 Less: face value of securities under reverse repurchase agreements 35,462 U.S. Treasury and agency securities eligible to be pledged 783,562 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.