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 31, 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 30, 2007 May 23, 2007 May 31, 2006 May 30, 2007 Reserve Bank credit 853,787 + 3,688 + 26,827 861,366 Securities held outright 790,236 + 83 + 27,835 790,260 U.S. Treasury1 790,236 + 83 + 27,835 790,260 Bills2 277,019 0 + 1,649 277,019 Notes and bonds, nominal2 474,672 0 + 13,822 474,672 Notes and bonds, inflation-indexed2 34,459 0 + 11,813 34,459 Inflation compensation3 4,087 + 84 + 552 4,111 Federal agency2 0 0 0 0 Repurchase agreements4 25,857 + 3,786 - 572 31,000 Loans to depository institutions 128 - 14 - 67 121 Primary credit 6 - 36 - 17 1 Secondary credit 0 0 0 0 Seasonal credit 122 + 21 - 50 120 Float -1,413 - 478 + 116 858 Other Federal Reserve assets 38,979 + 312 - 486 39,127 Gold stock 11,041 0 0 11,041 Special drawing rights certificate account 2,200 0 0 2,200 Treasury currency outstanding5 38,483 + 14 + 503 38,483 Total factors supplying reserve funds 905,512 + 3,702 + 27,331 913,091 Currency in circulation5 813,626 + 4,781 + 15,437 815,177 Reverse repurchase agreements6 32,764 + 549 + 9,180 34,860 Foreign official and international accounts 32,764 + 549 + 9,180 34,860 Dealers 0 0 0 0 Treasury cash holdings 281 + 15 + 93 286 Deposits with F.R. Banks, other than reserve balances 12,143 + 392 - 647 11,563 U.S. Treasury, general account 5,183 + 270 + 313 4,637 Foreign official 94 0 + 6 94 Service-related 6,580 + 111 - 1,000 6,580 Required clearing balances 6,580 + 111 - 1,000 6,580 Adjustments to compensate for float 0 0 0 0 Other 287 + 12 + 34 253 Other liabilities and capital 39,269 + 209 + 5,267 38,892 Total factors, other than reserve balances, absorbing reserve funds 898,083 + 5,946 + 29,330 900,777 Reserve balances with Federal Reserve Banks 7,429 - 2,244 - 1,999 12,313 Memo (off-balance-sheet items): Marketable securities held in custody for foreign official and international accounts2,7 1,959,312 + 14,576 + 344,757 1,962,529 U.S. Treasury 1,231,410 + 9,673 + 116,762 1,234,593 Federal agency 727,902 + 4,903 + 227,995 727,936 Securities lent to dealers 4,203 + 47 + 1,327 8,942 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 30, 2007 May 23, 2007 May 31, 2006 Assets Gold certificate account 11,037 0 0 Special drawing rights certificate account 2,200 0 0 Coin 880 - 25 + 164 Securities, repurchase agreements, and loans 821,381 - 169 + 28,013 Securities held outright 790,260 + 78 + 27,849 U.S. Treasury1 790,260 + 78 + 27,849 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 4,111 + 79 + 566 Federal agency2 0 0 0 Repurchase agreements4 31,000 - 250 + 250 Loans 121 + 3 - 86 Items in process of collection (1,234) 5,934 + 2,799 - 2,478 Bank premises 2,016 + 2 + 179 Other assets5 37,267 + 432 - 47 Total assets (1,234) 880,715 + 3,039 + 25,832 Liabilities Federal Reserve notes, net of F.R. Bank holdings 777,855 + 3,749 + 15,825 Reverse repurchase agreements6 34,860 + 2,242 + 10,257 Deposits (0) 24,032 - 3,862 - 2,328 Depository institutions 19,049 - 4,174 - 4,346 U.S. Treasury, general account 4,637 + 325 + 2,000 Foreign official 94 + 1 + 8 Other (0) 253 - 13 + 11 Deferred availability cash items (1,234) 5,077 + 769 - 2,306 Other liabilities and accrued dividends7 5,971 + 51 + 1,083 Total liabilities (1,234) 847,794 + 2,947 + 22,530 Capital accounts Capital paid in 16,102 + 81 + 1,146 Surplus 15,375 + 1 + 2,474 Other capital accounts 1,444 + 10 - 318 Total capital 32,921 + 92 + 3,302 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 30, 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 119 70,503 + 1,310 0 0 31,000 34,860 16 days to 90 days 2 164,252 - 672 0 0 0 0 91 days to 1 year 0 169,274 - 633 0 0 . . . . . . Over 1 year to 5 years . . . 229,514 + 24 0 0 . . . . . . Over 5 years to 10 years . . . 74,496 + 19 0 0 . . . . . . Over 10 years . . . 82,220 + 30 0 0 . . . . . . All 121 790,260 + 78 0 0 31,000 34,860 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 30, 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 8 8 0 3 3 5 2 5 8 8 8 8 2 9 9 1 0 4 3 9 3 8 6 8 8 7 130 Securities, repurchase agreements, and loans 821,3 8 1 37,8 5 4 297,3 7 6 36,3 3 3 33,6 0 9 71,1 5 6 76,1 7 3 68,9 2 2 26,2 7 7 16,4 1 1 26,6 0 1 36,0 8 6 94,583 Securities held outright 790,2 6 0 36,4 2 0 286,1 5 1 34,9 6 1 32,3 4 0 68,4 7 0 73,2 9 5 66,2 8 5 25,2 5 7 15,7 6 7 25,5 8 1 34,7 2 1 91,011 U.S. Treasury1 790,2 6 0 36,4 2 0 286,1 5 1 34,9 6 1 32,3 4 0 68,4 7 0 73,2 9 5 66,2 8 5 25,2 5 7 15,7 6 7 25,5 8 1 34,7 2 1 91,011 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 513,2 4 2 23,6 5 3 185,8 4 3 22,7 0 6 21,0 0 3 44,4 6 8 47,6 0 2 43,0 4 9 16,4 0 4 10,2 4 0 16,6 1 4 22,5 5 0 59,108 Federal agency2 0 0 0 0 0 0 0 0 0 0 0 0 0 Repurchase agreements4 31,0 0 0 1,4 2 9 11,2 2 5 1,3 7 1 1,2 6 9 2,6 8 6 2,8 7 5 2,6 0 0 9 9 1 6 1 9 1,0 0 3 1,3 6 2 3,570 Loans 1 2 1 6 0 0 0 0 3 3 7 2 9 2 6 1 6 3 2 Items in process of collection 7,1 6 8 1 7 3 1 9 3 4 8 1 1,4 0 5 2 6 7 5 1 3 1,9 4 2 1 8 7 2 2 5 3 9 5 5 3 4 855 Bank premises 2,0 1 6 1 1 7 2 1 4 5 7 1 5 6 1 7 2 2 3 1 2 0 7 9 0 1 1 5 2 0 1 2 6 1 195 Other assets5 37,2 6 7 1,2 3 7 11,5 4 2 3,2 4 5 2,1 3 8 6,9 9 3 3,1 7 3 2,4 1 3 7 2 4 6 9 8 7 3 3 9 7 2 3,399 Interdistrict settlement account 0 - 1,9 2 5 - 1,2 1 0 - 8 5 9 - 4,3 4 9 + 2,0 2 7 + 5,6 8 9 + 1 8 4 + 3 1 5 - 6 7 7 + 1,3 1 6 + 1,3 1 2 - 1,822 Total assets 881,9 4 9 38,0 5 4 313,0 9 3 39,8 5 3 33,5 7 8 81,7 1 4 87,1 6 2 74,8 8 6 28,0 2 8 17,0 4 3 29,7 1 4 39,9 6 3 98,859 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 30, 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 971,4 0 7 37,9 6 4 343,7 9 7 39,3 8 0 35,8 7 6 78,4 6 5 107,9 1 0 80,4 8 4 29,4 1 0 17,3 0 8 30,4 5 9 57,5 3 3 112,822 Less: notes held by F.R. Banks 193,5 5 2 4,2 5 5 62,9 2 7 6,5 7 1 8,7 0 0 13,2 0 1 29,7 6 7 13,7 1 9 3,5 1 0 2,4 5 2 3,4 4 6 21,1 7 5 23,829 Federal Reserve notes, net 777,8 5 5 33,7 0 9 280,8 7 0 32,8 0 9 27,1 7 5 65,2 6 4 78,1 4 3 66,7 6 4 25,9 0 0 14,8 5 6 27,0 1 3 36,3 5 7 88,993 Reverse repurchase agreements1 34,8 6 0 1,6 0 7 12,6 2 3 1,5 4 2 1,4 2 7 3,0 2 0 3,2 3 3 2,9 2 4 1,1 1 4 6 9 6 1,1 2 8 1,5 3 2 4,015 Deposits 24,0 3 2 1,2 9 9 8,7 5 0 7 1 3 1,7 9 6 4,0 4 3 1,5 5 6 2,4 4 8 3 1 1 2 6 8 4 4 4 6 4 0 1,763 Depository institutions 19,0 4 9 1,2 9 1 3,8 7 8 7 0 7 1,7 9 2 3,9 6 5 1,5 5 2 2,4 4 6 3 0 8 2 6 7 4 4 3 6 4 0 1,760 U.S. Treasury, general account 4,6 3 7 0 4,6 3 7 0 0 0 0 0 0 0 0 0 0 Foreign official 9 4 1 6 4 5 3 1 1 3 2 0 1 0 1 3 Other 2 5 3 7 1 7 1 1 1 6 7 0 0 2 0 1 0 0 Deferred availability cash items 6,3 1 1 3 4 0 1 8 2 8 5 0 6 7 0 4 7 4 8 7 7 4 3 8 1 2 8 4 1 6 5 3 6 5 6 7 835 Other liabilities and accrued dividends2 5,9 7 1 2 6 1 1,8 3 7 2 9 6 2 8 5 8 0 4 5 7 9 4 7 9 2 1 5 1 5 6 1 9 8 2 7 8 581 Total liabilities 849,0 2 8 37,2 1 6 304,2 6 3 36,2 1 0 31,3 5 3 73,6 0 5 84,3 8 9 73,0 5 3 27,6 6 8 16,3 9 1 29,3 2 0 39,3 7 4 96,187 Capital Capital paid in 16,1 0 2 4 0 3 4,2 8 1 1,8 0 7 1,1 0 0 3,9 7 8 1,3 9 1 8 8 7 1 7 3 3 2 1 1 8 7 2 7 8 1,295 Surplus 15,3 7 5 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 4 4 3 8 7 7 8 2 6 3 8 3 6 1 0 6 8 7 2 1 5 6 3 1 9 8 130 Total liabilities and capital 881,9 4 9 38,0 5 4 313,0 9 3 39,8 5 3 33,5 7 8 81,7 1 4 87,1 6 2 74,8 8 6 28,0 2 8 17,0 4 3 29,7 1 4 39,9 6 3 98,859 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 30, 2007 Federal Reserve notes outstanding 971,407 Less: Notes held by F.R. Banks not subject to collateralization 193,552 Federal Reserve notes to be collateralized 777,855 Collateral held against Federal Reserve notes 777,855 Gold certificate account 11,037 Special drawing rights certificate account 2,200 U.S. Treasury and agency securities pledged1 764,618 Other assets pledged 0 Memo: Total U.S. Treasury and agency securities1 821,260 Less: face value of securities under reverse repurchase agreements 34,909 U.S. Treasury and agency securities eligible to be pledged 786,351 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.