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 December 13, 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 Dec 12, 2007 Dec 5, 2007 Dec 13, 2006 Dec 12, 2007 Reserve Bank credit 863,773 - 3,181 + 26,415 867,291 Securities held outright 774,728 - 4,977 - 686 774,735 U.S. Treasury1 774,728 - 4,977 - 686 774,735 Bills2 262,019 - 5,000 - 15,000 262,019 Notes and bonds, nominal2 470,984 0 + 6,743 470,984 Notes and bonds, inflation-indexed2 36,911 0 + 6,806 36,911 Inflation compensation3 4,814 + 23 + 764 4,821 Federal agency2 0 0 0 0 Repurchase agreements4 45,643 - 1,214 + 23,179 47,750 Loans to depository institutions 3,047 + 2,705 + 2,819 4,547 Primary credit 3,009 + 2,700 + 2,862 4,514 Secondary credit 3 + 3 + 3 0 Seasonal credit 36 + 3 - 45 33 Float -782 - 16 - 2,310 -973 Other Federal Reserve assets 41,137 + 322 + 3,413 41,232 Gold stock 11,041 0 0 11,041 Special drawing rights certificate account 2,200 0 0 2,200 Treasury currency outstanding5 38,779 + 14 + 595 38,779 Total factors supplying reserve funds 915,793 - 3,167 + 27,010 919,311 Currency in circulation5 818,295 + 193 + 12,070 819,841 Reverse repurchase agreements6 37,972 + 1,936 + 9,890 37,764 Foreign official and international accounts 37,972 + 1,936 + 9,890 37,764 Dealers 0 0 0 0 Treasury cash holdings 256 - 9 + 76 247 Deposits with F.R. Banks, other than reserve balances 11,757 - 37 - 352 11,275 U.S. Treasury, general account 4,831 - 74 + 91 4,333 Foreign official 97 0 + 6 97 Service-related 6,553 + 67 - 462 6,554 Required clearing balances 6,541 + 55 - 474 6,541 Adjustments to compensate for float 13 + 13 + 13 13 Other 275 - 31 + 11 292 Other liabilities and capital 43,064 + 367 + 6,625 42,824 Total factors, other than reserve balances, absorbing reserve funds 911,343 + 2,449 + 28,309 911,951 Reserve balances with Federal Reserve Banks 4,451 - 5,615 - 1,298 7,361 Memo (off-balance-sheet items): Marketable securities held in custody for foreign official and international accounts2,7 2,040,303 + 3,566 + 310,029 2,042,499 U.S. Treasury 1,228,614 + 2,896 + 67,416 1,225,020 Federal agency 811,688 + 669 + 242,612 817,479 Securities lent to dealers 7,919 + 2,172 + 4,773 12,825 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 Dec 12, 2007 Dec 5, 2007 Dec 13, 2006 Assets Gold certificate account 11,037 0 0 Special drawing rights certificate account 2,200 0 0 Coin 1,209 + 19 + 382 Securities, repurchase agreements, and loans 827,032 - 1,329 + 29,242 Securities held outright 774,735 - 4,980 - 868 U.S. Treasury1 774,735 - 4,980 - 868 Bills2 262,019 - 5,000 - 15,000 Notes and bonds, nominal2 470,984 0 + 6,539 Notes and bonds, inflation-indexed2 36,911 0 + 6,806 Inflation compensation3 4,821 + 20 + 786 Federal agency2 0 0 0 Repurchase agreements4 47,750 + 1,250 + 26,500 Loans 4,547 + 2,401 + 3,611 Items in process of collection (686) 2,413 - 32 - 5,172 Bank premises 2,120 + 2 + 199 Other assets5 39,087 + 273 + 2,643 Total assets (686) 885,097 - 1,068 + 27,293 Liabilities Federal Reserve notes, net of F.R. Bank holdings 782,513 + 574 + 11,218 Reverse repurchase agreements6 37,764 + 1,114 + 9,462 Deposits (0) 18,611 - 2,895 + 1,402 Depository institutions 13,889 - 2,092 + 1,531 U.S. Treasury, general account 4,333 - 746 - 167 Foreign official 97 + 1 + 6 Other (0) 292 - 58 + 32 Deferred availability cash items (686) 3,385 + 25 - 1,494 Other liabilities and accrued dividends7 5,947 - 49 - 64 Total liabilities (686) 848,220 - 1,231 + 20,524 Capital accounts Capital paid in 18,282 + 95 + 2,968 Surplus 15,461 0 + 4,907 Other capital accounts 3,133 + 67 - 1,107 Total capital 36,877 + 163 + 6,769 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, December 12, 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 22 46,111 - 3,633 0 0 39,750 37,764 16 days to 90 days 4,525 162,696 - 2,043 0 0 8,000 0 91 days to 1 year 0 160,488 + 677 0 0 . . . . . . Over 1 year to 5 years . . . 234,709 + 8 0 0 . . . . . . Over 5 years to 10 years . . . 81,938 + 3 0 0 . . . . . . Over 10 years . . . 88,793 + 8 0 0 . . . . . . All 4,547 774,735 - 4,980 0 0 47,750 37,764 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 December 12, 2007 Millions of dollars Kansas San Assets, liabilities, and capital Total Boston New York Philadelphia Cleveland Richmond Atlanta Chicago St. Louis Minneapolis City Dallas 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 1,2 0 9 4 0 5 9 9 0 1 1 2 1 4 0 1 5 9 1 3 8 5 4 4 5 7 5 1 3 2 164 Securities, repurchase agreements, and loans 827,0 3 2 37,9 0 7 302,3 3 3 36,3 9 1 33,6 5 9 71,2 6 2 76,2 8 4 68,9 9 1 26,2 8 7 16,4 1 8 26,6 3 7 36,1 4 0 94,723 Securities held outright 774,7 3 5 35,7 0 4 280,5 2 9 34,2 7 5 31,7 0 5 67,1 2 5 71,8 5 5 64,9 8 2 24,7 6 1 15,4 5 8 25,0 7 9 34,0 3 9 89,223 U.S. Treasury1 774,7 3 5 35,7 0 4 280,5 2 9 34,2 7 5 31,7 0 5 67,1 2 5 71,8 5 5 64,9 8 2 24,7 6 1 15,4 5 8 25,0 7 9 34,0 3 9 89,223 Bills2 262,0 1 9 12,0 7 5 94,8 7 6 11,5 9 2 10,7 2 3 22,7 0 2 24,3 0 2 21,9 7 7 8,3 7 4 5,2 2 8 8,4 8 2 11,5 1 2 30,176 Notes and bonds3 512,7 1 6 23,6 2 9 185,6 5 3 22,6 8 3 20,9 8 2 44,4 2 3 47,5 5 3 43,0 0 5 16,3 8 7 10,2 3 0 16,5 9 7 22,5 2 7 59,048 Federal agency2 0 0 0 0 0 0 0 0 0 0 0 0 0 Repurchase agreements4 47,7 5 0 2,2 0 1 17,2 9 0 2,1 1 2 1,9 5 4 4,1 3 7 4,4 2 9 4,0 0 5 1,5 2 6 9 5 3 1,5 4 6 2,0 9 8 5,499 Loans 4,5 4 7 2 4,5 1 4 4 0 0 0 4 0 8 1 3 3 1 Items in process of collection 3,0 9 9 1 1 4 9 4 5 1 3 4 0 8 3 9 4 1 8 8 1 6 0 6 6 1 4 1 2 7 3 1 5 2 597 Bank premises 2,1 2 0 1 1 9 2 1 5 6 4 1 5 4 1 8 1 2 3 0 2 0 4 1 0 9 1 1 3 2 6 4 2 5 7 212 Other assets5 39,0 8 7 1,2 7 7 12,0 0 1 3,4 0 6 2,2 7 2 7,5 3 3 3,3 3 8 2,5 0 8 7 5 1 7 2 5 7 5 7 9 8 4 3,533 Interdistrict settlement account 0 - 2,3 8 0 - 2,1 2 1 - 5 7 9 - 1 6 5 + 4,5 0 8 - 4,2 5 4 + 4,0 1 6 + 3,8 0 3 + 7 2 6 + 4,0 8 6 - 2,5 4 1 - 5,098 Total assets 885,7 8 3 37,6 4 1 317,5 0 8 40,4 2 2 36,9 7 2 85,0 3 4 77,2 2 7 77,1 3 3 31,4 6 6 18,4 0 1 32,4 9 3 35,8 3 4 95,651 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 December 12, 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 1,009,86 8 39,2 8 6 357,80 5 41,9 7 2 39,3 7 2 81,8 7 1 106,3 7 8 85,1 3 0 33,1 7 1 19,3 8 8 33,6 3 8 58,0 2 1 113,837 Less: notes held by F.R. Banks 227,35 5 6,2 0 4 73,99 0 8,2 1 8 7,9 7 2 14,2 8 1 37,6 4 4 14,8 4 9 3,9 4 9 3,0 7 9 3,5 7 9 25,6 9 3 27,896 Federal Reserve notes, net 782,51 3 33,0 8 2 283,81 4 33,7 5 5 31,4 0 0 67,5 9 0 68,7 3 4 70,2 8 1 29,2 2 2 16,3 0 9 30,0 5 9 32,3 2 8 85,940 Reverse repurchase agreements1 37,76 4 1,7 4 0 13,67 4 1,6 7 1 1,5 4 5 3,2 7 2 3,5 0 3 3,1 6 8 1,2 0 7 7 5 3 1,2 2 2 1,6 5 9 4,349 Deposits 18,61 1 4 4 4 8,85 3 4 5 4 8 2 5 2,8 4 0 1,2 1 8 1,0 5 0 3 3 6 2 2 7 3 8 6 6 1 8 1,359 Depository institutions 13,88 9 4 1 6 4,26 9 4 5 0 8 2 1 2,7 6 5 1,2 1 5 1,0 4 7 3 2 4 2 2 6 3 8 4 6 1 8 1,355 U.S. Treasury, general account 4,33 3 0 4,33 3 0 0 0 0 0 0 0 0 0 0 Foreign official 9 7 1 6 6 5 3 1 1 3 2 0 1 0 1 3 Other 29 2 2 8 18 6 0 1 6 4 0 0 1 2 0 1 0 0 Deferred availability cash items 4,07 1 1 9 6 14 4 6 0 9 5 9 4 3 2 8 3 6 0 3 6 0 1 0 8 2 3 5 2 2 9 2 0 6 701 Other liabilities and accrued dividends2 5,94 7 2 6 2 1,71 6 2 8 7 2 7 7 9 9 2 5 5 3 4 6 4 2 1 4 1 5 7 1 9 4 2 7 2 557 Total liabilities 848,90 6 35,7 2 5 308,20 2 36,7 7 6 34,6 4 2 75,0 2 2 74,3 6 8 75,3 2 3 31,0 8 6 17,6 8 2 32,0 9 0 35,0 8 3 92,907 Capital Capital paid in 18,28 2 1,0 4 9 4,53 8 1,8 1 3 1,1 5 4 4,9 9 6 1,4 1 1 8 8 0 1 8 0 3 5 4 1 9 0 3 6 2 1,353 Surplus 15,46 1 3 9 6 3,84 5 1,8 1 1 1,0 8 8 4,0 9 9 1,2 7 9 8 6 1 1 6 7 2 7 6 1 7 6 2 1 4 1,248 Other capital 3,13 3 4 7 1 92 3 2 1 8 8 9 1 7 1 6 9 6 9 3 3 8 9 3 6 1 7 4 143 Total liabilities and capital 885,78 3 37,6 4 1 317,50 8 40,4 2 2 36,9 7 2 85,0 3 4 77,2 2 7 77,1 3 3 31,4 6 6 18,4 0 1 32,4 9 3 35,8 3 4 95,651 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 Dec 12, 2007 Federal Reserve notes outstanding 1,009,868 Less: Notes held by F.R. Banks not subject to collateralization 227,355 Federal Reserve notes to be collateralized 782,513 Collateral held against Federal Reserve notes 782,513 Gold certificate account 11,037 Special drawing rights certificate account 2,200 U.S. Treasury and agency securities pledged1 769,277 Other assets pledged 0 Memo: Total U.S. Treasury and agency securities1 822,485 Less: face value of securities under reverse repurchase agreements 37,812 U.S. Treasury and agency securities eligible to be pledged 784,673 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.