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 24, 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 23, 2007 May 16, 2007 May 24, 2006 May 23, 2007 Reserve Bank credit 850,099 + 2,252 + 27,269 859,206 Securities held outright 790,153 + 79 + 29,704 790,182 U.S. Treasury1 790,153 + 79 + 29,704 790,182 Bills2 277,019 0 + 1,649 277,019 Notes and bonds, nominal2 474,672 0 + 15,740 474,672 Notes and bonds, inflation-indexed2 34,459 0 + 11,813 34,459 Inflation compensation3 4,003 + 78 + 502 4,032 Federal agency2 0 0 0 0 Repurchase agreements4 22,071 + 4,035 - 786 31,250 Loans to depository institutions 142 + 58 - 32 118 Primary credit 42 + 40 + 21 0 Secondary credit 0 0 0 0 Seasonal credit 101 + 19 - 51 118 Float -935 + 120 - 1,149 -1,173 Other Federal Reserve assets 38,667 - 2,041 - 470 38,829 Gold stock 11,041 0 0 11,041 Special drawing rights certificate account 2,200 0 0 2,200 Treasury currency outstanding5 38,469 + 14 + 500 38,469 Total factors supplying reserve funds 901,810 + 2,266 + 27,769 910,916 Currency in circulation5 808,845 - 227 + 15,002 811,394 Reverse repurchase agreements6 32,215 - 83 + 8,997 32,618 Foreign official and international accounts 32,215 + 131 + 8,997 32,618 Dealers 0 - 214 0 0 Treasury cash holdings 266 + 30 + 81 280 Deposits with F.R. Banks, other than reserve balances 11,751 + 453 - 1,466 11,141 U.S. Treasury, general account 4,913 + 462 - 563 4,312 Foreign official 94 0 + 6 93 Service-related 6,469 - 1 - 896 6,469 Required clearing balances 6,469 - 1 - 896 6,469 Adjustments to compensate for float 0 0 0 0 Other 275 - 9 - 13 266 Other liabilities and capital 39,060 + 79 + 5,554 38,750 Total factors, other than reserve balances, absorbing reserve funds 892,137 + 251 + 28,168 894,183 Reserve balances with Federal Reserve Banks 9,673 + 2,015 - 399 16,734 Memo (off-balance-sheet items): Marketable securities held in custody for foreign official and international accounts2,7 1,944,736 + 4,766 + 328,170 1,948,912 U.S. Treasury 1,221,737 - 2,996 + 104,637 1,223,577 Federal agency 722,999 + 7,762 + 223,534 725,336 Securities lent to dealers 4,156 + 632 + 2,820 4,239 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 23, 2007 May 16, 2007 May 24, 2006 Assets Gold certificate account 11,037 0 0 Special drawing rights certificate account 2,200 0 0 Coin 905 - 44 + 162 Securities, repurchase agreements, and loans 821,550 + 13,354 + 36,493 Securities held outright 790,182 + 79 + 27,804 U.S. Treasury1 790,182 + 79 + 27,804 Bills2 277,019 0 + 1,649 Notes and bonds, nominal2 474,672 0 + 13,822 Notes and bonds, inflation-indexed2 34,459 0 + 11,813 Inflation compensation3 4,032 + 79 + 519 Federal agency2 0 0 0 Repurchase agreements4 31,250 + 13,250 + 8,750 Loans 118 + 25 - 61 Items in process of collection (994) 3,135 + 612 - 2,275 Bank premises 2,014 + 9 + 178 Other assets5 36,835 + 418 - 419 Total assets (994) 877,676 + 14,350 + 34,139 Liabilities Federal Reserve notes, net of F.R. Bank holdings 774,106 + 1,183 + 14,826 Reverse repurchase agreements6 32,618 + 172 + 9,815 Deposits (0) 27,894 + 12,180 + 5,014 Depository institutions 23,223 + 12,005 + 5,869 U.S. Treasury, general account 4,312 + 187 - 876 Foreign official 93 0 + 8 Other (0) 266 - 13 + 14 Deferred availability cash items (994) 4,308 + 633 - 1,119 Other liabilities and accrued dividends7 5,920 + 26 + 1,031 Total liabilities (994) 844,847 + 14,195 + 29,568 Capital accounts Capital paid in 16,021 + 38 + 2,155 Surplus 15,374 0 + 2,473 Other capital accounts 1,434 + 117 - 57 Total capital 32,829 + 154 + 4,571 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 23, 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 115 69,193 + 2,353 0 0 31,250 32,618 16 days to 90 days 3 164,924 + 11,065 0 0 0 0 91 days to 1 year 0 169,907 - 13,413 0 0 . . . . . . Over 1 year to 5 years . . . 229,490 + 24 0 0 . . . . . . Over 5 years to 10 years . . . 74,477 + 7,536 0 0 . . . . . . Over 10 years . . . 82,190 - 7,486 0 0 . . . . . . All 118 790,182 + 79 0 0 31,250 32,618 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 23, 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 0 5 3 5 5 6 5 9 9 1 8 4 1 0 2 1 0 8 4 1 3 9 7 0 8 7 132 Securities, repurchase agreements, and loans 821,5 5 0 37,8 6 3 297,4 3 8 36,3 4 0 33,6 1 6 71,1 7 1 76,1 8 9 68,9 3 9 26,2 8 3 16,4 1 1 26,6 0 5 36,0 9 3 94,602 Securities held outright 790,1 8 2 36,4 1 6 286,1 2 3 34,9 5 8 32,3 3 7 68,4 6 3 73,2 8 8 66,2 7 8 25,2 5 5 15,7 6 6 25,5 7 9 34,7 1 8 91,002 U.S. Treasury1 790,1 8 2 36,4 1 6 286,1 2 3 34,9 5 8 32,3 3 7 68,4 6 3 73,2 8 8 66,2 7 8 25,2 5 5 15,7 6 6 25,5 7 9 34,7 1 8 91,002 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 513,1 6 3 23,6 5 0 185,8 1 5 22,7 0 3 21,0 0 0 44,4 6 2 47,5 9 5 43,0 4 2 16,4 0 1 10,2 3 9 16,6 1 2 22,5 4 7 59,099 Federal agency2 0 0 0 0 0 0 0 0 0 0 0 0 0 Repurchase agreements4 31,2 5 0 1,4 4 0 11,3 1 6 1,3 8 3 1,2 7 9 2,7 0 8 2,8 9 8 2,6 2 1 9 9 9 6 2 4 1,0 1 2 1,3 7 3 3,599 Loans 1 1 8 7 0 0 0 0 3 4 0 2 9 2 2 1 4 3 1 Items in process of collection 4,1 2 8 1 5 3 - 1 9 6 4 3 4 6 7 2 5 7 2 9 7 3 8 0 5 4 9 3 1 9 4 4 2 - 6 5 705 Bank premises 2,0 1 4 1 1 7 2 1 2 5 7 1 5 6 1 7 2 2 3 2 2 0 7 9 0 1 1 5 2 0 1 2 6 0 195 Other assets5 36,8 3 5 1,2 1 6 11,3 8 1 3,2 3 0 2,1 2 0 6,9 6 2 3,1 2 6 2,3 8 1 7 1 1 6 8 9 7 1 8 9 5 2 3,349 Interdistrict settlement account 0 - 2,4 6 1 + 1,7 4 2 - 1,7 5 1 - 4,0 3 4 + 5 9 3 + 6,0 4 7 + 9 9 - 2 5 4 - 3 1 3 + 1,1 2 9 + 1,7 9 5 - 2,592 Total assets 878,6 7 0 37,4 8 8 315,7 3 7 39,1 1 7 32,9 4 7 80,2 5 4 87,2 7 7 73,2 2 8 27,8 1 6 17,4 9 4 29,5 6 6 39,8 3 4 97,911 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 23, 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 970,6 5 2 37,9 7 5 342,8 5 3 39,2 7 7 35,8 3 2 78,5 3 4 107,9 8 6 80,5 4 7 29,4 4 8 17,3 1 4 30,4 8 0 57,6 2 8 112,778 Less: notes held by F.R. Banks 196,5 4 6 4,3 7 0 62,9 1 1 6,7 8 3 9,0 5 6 13,5 1 6 29,7 2 9 14,2 5 8 3,7 0 6 2,5 5 0 3,6 3 3 21,4 5 7 24,576 Federal Reserve notes, net 774,1 0 6 33,6 0 5 279,9 4 2 32,4 9 4 26,7 7 7 65,0 1 8 78,2 5 7 66,2 8 9 25,7 4 2 14,7 6 4 26,8 4 7 36,1 7 0 88,202 Reverse repurchase agreements1 32,6 1 8 1,5 0 3 11,8 1 1 1,4 4 3 1,3 3 5 2,8 2 6 3,0 2 5 2,7 3 6 1,0 4 2 6 5 1 1,0 5 6 1,4 3 3 3,756 Deposits 27,8 9 4 9 9 5 13,2 1 3 5 5 9 1,6 1 3 3,1 4 2 2,0 9 7 1,4 7 2 3 4 1 9 8 1 5 1 9 9 9 1 1,971 Depository institutions 23,2 2 3 9 8 6 8,6 6 2 5 5 3 1,6 0 9 3,0 5 7 2,0 9 3 1,4 6 9 3 3 8 9 8 0 5 1 7 9 9 0 1,968 U.S. Treasury, general account 4,3 1 2 0 4,3 1 2 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 6 9 1 7 6 1 1 7 4 0 0 3 0 1 0 0 Deferred availability cash items 5,3 0 2 2 8 6 1 1 3 6 8 8 7 2 9 3 7 8 6 2 4 4 1 7 1 1 0 2 9 4 5 5 4 3 7 6 734 Other liabilities and accrued dividends2 5,9 2 0 2 5 9 1,8 3 0 2 9 4 2 8 2 7 8 2 5 6 7 4 8 3 2 1 4 1 5 6 1 9 8 2 7 7 579 Total liabilities 845,8 4 0 36,6 4 8 306,9 1 0 35,4 7 7 30,7 3 6 72,1 4 5 84,5 7 0 71,3 9 6 27,4 5 0 16,8 4 6 29,1 7 4 39,2 4 6 95,243 Capital Capital paid in 16,0 2 1 4 0 3 4,2 8 1 1,8 0 7 1,0 9 9 3,9 7 9 1,3 1 9 8 8 7 1 7 2 3 1 8 1 8 4 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 7 8 5 9 1 6 6 2 7 6 1 7 6 2 1 3 1,247 Other capital 1,4 3 4 4 1 7 7 5 2 2 2 6 3 5 1 1 1 8 6 2 9 5 5 3 2 9 6 127 Total liabilities and capital 878,6 7 0 37,4 8 8 315,7 3 7 39,1 1 7 32,9 4 7 80,2 5 4 87,2 7 7 73,2 2 8 27,8 1 6 17,4 9 4 29,5 6 6 39,8 3 4 97,911 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 23, 2007 Federal Reserve notes outstanding 970,652 Less: Notes held by F.R. Banks not subject to collateralization 196,546 Federal Reserve notes to be collateralized 774,106 Collateral held against Federal Reserve notes 774,106 Gold certificate account 11,037 Special drawing rights certificate account 2,200 U.S. Treasury and agency securities pledged1 760,869 Other assets pledged 0 Memo: Total U.S. Treasury and agency securities1 821,432 Less: face value of securities under reverse repurchase agreements 32,664 U.S. Treasury and agency securities eligible to be pledged 788,768 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.