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 17, 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 16, 2007 May 9, 2007 May 17, 2006 May 16, 2007 Reserve Bank credit 847,847 - 5,658 + 23,183 845,447 Securities held outright 790,074 + 278 + 29,897 790,103 U.S. Treasury1 790,074 + 278 + 29,897 790,103 Bills2 277,019 0 + 1,649 277,019 Notes and bonds, nominal2 474,672 + 199 + 15,979 474,672 Notes and bonds, inflation-indexed2 34,459 0 + 11,813 34,459 Inflation compensation3 3,925 + 79 + 457 3,953 Federal agency2 0 0 0 0 Repurchase agreements4 18,036 - 4,785 - 5,714 18,000 Loans to depository institutions 84 + 9 - 84 93 Primary credit 2 - 3 - 18 7 Secondary credit 0 0 0 0 Seasonal credit 82 + 12 - 67 86 Float -1,055 - 577 - 795 -1,153 Other Federal Reserve assets 40,708 - 581 - 120 38,403 Gold stock 11,041 0 0 11,041 Special drawing rights certificate account 2,200 0 0 2,200 Treasury currency outstanding5 38,455 + 14 + 497 38,455 Total factors supplying reserve funds 899,544 - 5,643 + 23,681 897,143 Currency in circulation5 809,072 + 376 + 15,097 810,170 Reverse repurchase agreements6 32,298 - 3,721 + 8,641 32,446 Foreign official and international accounts 32,084 - 3,935 + 8,427 32,446 Dealers 214 + 214 + 214 0 Treasury cash holdings 236 - 33 + 55 263 Deposits with F.R. Banks, other than reserve balances 11,298 - 487 - 1,672 10,966 U.S. Treasury, general account 4,451 - 463 - 741 4,125 Foreign official 94 + 1 - 11 93 Service-related 6,470 - 39 - 896 6,470 Required clearing balances 6,470 - 39 - 896 6,470 Adjustments to compensate for float 0 0 0 0 Other 284 + 16 - 24 279 Other liabilities and capital 38,981 + 180 + 5,084 38,569 Total factors, other than reserve balances, absorbing reserve funds 891,886 - 3,683 + 27,206 892,414 Reserve balances with Federal Reserve Banks 7,658 - 1,960 - 3,525 4,729 Memo (off-balance-sheet items): Marketable securities held in custody for foreign official and international accounts2,7 1,939,970 + 8,838 + 315,555 1,937,394 U.S. Treasury 1,224,733 - 3,299 + 99,679 1,219,345 Federal agency 715,237 + 12,137 + 215,876 718,049 Securities lent to dealers 3,524 + 480 + 1,924 7,437 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 16, 2007 May 9, 2007 May 17, 2006 Assets Gold certificate account 11,037 0 0 Special drawing rights certificate account 2,200 0 0 Coin 949 - 67 + 182 Securities, repurchase agreements, and loans 808,196 - 10,911 + 26,867 Securities held outright 790,103 + 78 + 30,452 U.S. Treasury1 790,103 + 78 + 30,452 Bills2 277,019 0 + 1,649 Notes and bonds, nominal2 474,672 0 + 16,517 Notes and bonds, inflation-indexed2 34,459 0 + 11,813 Inflation compensation3 3,953 + 78 + 473 Federal agency2 0 0 0 Repurchase agreements4 18,000 - 11,000 - 3,500 Loans 93 + 11 - 85 Items in process of collection (819) 2,523 - 1,621 - 4,751 Bank premises 2,005 - 1 + 169 Other assets5 36,417 - 3,072 - 508 Total assets (819) 863,326 - 15,672 + 21,958 Liabilities Federal Reserve notes, net of F.R. Bank holdings 772,923 - 356 + 14,954 Reverse repurchase agreements6 32,446 - 2,964 + 9,877 Deposits (0) 15,714 - 11,869 - 6,044 Depository institutions 11,218 - 11,285 - 5,095 U.S. Treasury, general account 4,125 - 601 - 930 Foreign official 93 0 + 8 Other (0) 279 + 18 - 25 Deferred availability cash items (819) 3,675 - 504 - 2,349 Other liabilities and accrued dividends7 5,894 - 12 + 1,154 Total liabilities (819) 830,652 - 15,706 + 17,593 Capital accounts Capital paid in 15,983 + 92 + 2,124 Surplus 15,374 0 + 2,473 Other capital accounts 1,317 - 58 - 232 Total capital 32,675 + 35 + 4,366 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 16, 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 37 66,840 - 1,517 0 0 18,000 32,446 16 days to 90 days 56 153,859 - 9,023 0 0 0 0 91 days to 1 year 0 183,320 + 12,488 0 0 . . . . . . Over 1 year to 5 years . . . 229,466 - 8,271 0 0 . . . . . . Over 5 years to 10 years . . . 66,941 + 20 0 0 . . . . . . Over 10 years . . . 89,676 + 6,380 0 0 . . . . . . All 93 790,103 + 78 0 0 18,000 32,446 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 16, 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 9 4 9 3 9 6 1 6 1 9 7 8 8 1 0 4 1 1 3 4 2 4 1 7 3 9 0 139 Securities, repurchase agreements, and loans 808,1 9 6 37,2 4 9 292,6 1 2 35,7 5 1 33,0 7 0 70,0 2 1 74,9 5 2 67,8 1 7 25,8 4 2 16,1 3 5 26,1 7 2 35,5 0 7 93,070 Securities held outright 790,1 0 3 36,4 1 3 286,0 9 4 34,9 5 4 32,3 3 4 68,4 5 6 73,2 8 0 66,2 7 1 25,2 5 2 15,7 6 4 25,5 7 6 34,7 1 4 90,993 U.S. Treasury1 790,1 0 3 36,4 1 3 286,0 9 4 34,9 5 4 32,3 3 4 68,4 5 6 73,2 8 0 66,2 7 1 25,2 5 2 15,7 6 4 25,5 7 6 34,7 1 4 90,993 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 8 4 23,6 4 6 185,7 8 6 22,6 9 9 20,9 9 7 44,4 5 5 47,5 8 7 43,0 3 6 16,3 9 9 10,2 3 7 16,6 0 9 22,5 4 3 59,090 Federal agency2 0 0 0 0 0 0 0 0 0 0 0 0 0 Repurchase agreements4 18,0 0 0 8 3 0 6,5 1 8 7 9 6 7 3 7 1,5 6 0 1,6 6 9 1,5 1 0 5 7 5 3 5 9 5 8 3 7 9 1 2,073 Loans 9 3 7 0 0 0 5 2 3 6 1 5 1 1 1 3 2 4 Items in process of collection 3,3 4 2 1 7 1 3 5 3 2 6 5 1 2 2 7 0 3 7 7 2 2 9 8 2 1 7 4 3 5 2 2 1 794 Bank premises 2,0 0 5 1 1 7 2 1 2 5 7 1 5 6 1 7 2 2 3 2 2 0 6 8 8 1 1 5 2 0 1 2 6 0 190 Other assets5 36,4 1 7 1,2 0 3 11,2 5 4 3,1 2 1 2,1 1 8 6,9 4 6 3,0 7 8 2,3 4 3 7 2 4 6 8 6 7 0 5 9 3 4 3,304 Interdistrict settlement account 0 - 2,1 1 7 - 1,8 2 7 - 1,0 2 5 - 4,5 1 2 + 5 2 5 + 6,2 2 9 + 8 2 9 + 7 0 7 - 6 7 3 + 1,3 9 7 + 1,9 2 7 - 1,459 Total assets 864,1 4 6 37,2 2 7 307,2 7 3 38,8 2 9 31,9 7 4 79,0 3 7 86,2 5 5 72,6 5 2 27,8 8 2 16,7 1 0 29,3 0 1 39,4 5 0 97,557 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 16, 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 969,2 2 7 38,0 0 5 341,5 4 1 39,0 4 2 35,8 7 3 78,3 1 6 108,1 5 4 80,6 4 4 29,4 3 8 17,3 0 5 30,5 0 3 57,7 1 8 112,688 Less: notes held by F.R. Banks 196,3 0 5 4,3 7 3 62,7 4 3 6,7 9 4 8,8 4 3 13,2 0 4 29,9 1 1 14,4 5 5 3,6 1 8 2,5 5 3 3,7 2 8 21,5 7 1 24,512 Federal Reserve notes, net 772,9 2 3 33,6 3 2 278,7 9 8 32,2 4 8 27,0 3 0 65,1 1 2 78,2 4 4 66,1 8 9 25,8 2 0 14,7 5 2 26,7 7 5 36,1 4 7 88,176 Reverse repurchase agreements1 32,4 4 6 1,4 9 5 11,7 4 9 1,4 3 5 1,3 2 8 2,8 1 1 3,0 0 9 2,7 2 1 1,0 3 7 6 4 7 1,0 5 0 1,4 2 6 3,737 Deposits 15,7 1 4 7 4 8 6,0 6 9 5 4 1 7 1 9 1,9 1 2 1,2 4 5 1,1 5 9 3 3 8 2 5 1 4 1 8 6 5 6 1,657 Depository institutions 11,2 1 8 7 3 8 1,7 0 4 5 3 6 7 1 5 1,8 2 3 1,2 4 1 1,1 5 7 3 2 8 2 5 1 4 1 6 6 5 6 1,654 U.S. Treasury, general account 4,1 2 5 0 4,1 2 5 0 0 0 0 0 0 0 0 0 0 Foreign official 9 3 1 6 2 5 3 1 1 3 2 0 1 0 1 3 Other 2 7 9 9 1 7 8 0 1 7 8 0 0 1 0 0 1 0 0 Deferred availability cash items 4,4 9 5 2 5 6 6 8 6 6 9 4 4 0 3 2 7 4 9 5 2 7 6 1 0 6 2 5 8 4 7 5 3 6 1 763 Other liabilities and accrued dividends2 5,8 9 4 2 5 8 1,8 3 4 2 9 2 2 7 8 7 7 2 5 6 1 4 8 1 2 1 4 1 5 4 1 9 9 2 7 4 577 Total liabilities 831,4 7 1 36,3 9 0 298,5 1 7 35,1 8 6 29,7 9 5 70,9 3 4 83,5 5 4 70,8 2 7 27,5 1 5 16,0 6 2 28,9 1 7 38,8 6 3 94,910 Capital Capital paid in 15,9 8 3 4 0 3 4,2 8 1 1,8 0 8 1,0 6 6 3,9 7 5 1,3 1 8 8 8 7 1 7 2 3 1 8 1 8 3 2 7 8 1,294 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 1 7 3 8 7 0 4 2 5 2 5 3 3 1 0 6 7 9 2 8 5 4 2 4 9 5 106 Total liabilities and capital 864,1 4 6 37,2 2 7 307,2 7 3 38,8 2 9 31,9 7 4 79,0 3 7 86,2 5 5 72,6 5 2 27,8 8 2 16,7 1 0 29,3 0 1 39,4 5 0 97,557 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 16, 2007 Federal Reserve notes outstanding 969,227 Less: Notes held by F.R. Banks not subject to collateralization 196,305 Federal Reserve notes to be collateralized 772,923 Collateral held against Federal Reserve notes 772,923 Gold certificate account 11,037 Special drawing rights certificate account 2,200 U.S. Treasury and agency securities pledged1 759,686 Other assets pledged 0 Memo: Total U.S. Treasury and agency securities1 808,103 Less: face value of securities under reverse repurchase agreements 32,490 U.S. Treasury and agency securities eligible to be pledged 775,614 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.