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 20, 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 19, 2007 Dec 12, 2007 Dec 20, 2006 Dec 19, 2007 Reserve Bank credit 870,930 + 7,157 + 25,466 872,803 Securities held outright 769,748 - 4,980 - 7,182 769,755 U.S. Treasury1 769,748 - 4,980 - 7,182 769,755 Bills2 257,019 - 5,000 - 20,000 257,019 Notes and bonds, nominal2 470,984 0 + 5,186 470,984 Notes and bonds, inflation-indexed2 36,911 0 + 6,806 36,911 Inflation compensation3 4,834 + 20 + 826 4,842 Federal agency2 0 0 0 0 Repurchase agreements4 55,750 + 10,107 + 26,821 57,750 Loans to depository institutions 4,619 + 1,572 + 4,427 4,765 Primary credit 4,586 + 1,577 + 4,479 4,735 Secondary credit 0 - 3 0 0 Seasonal credit 32 - 4 - 53 31 Float -369 + 413 - 1,266 -670 Other Federal Reserve assets 41,183 + 46 + 2,666 41,203 Gold stock 11,041 0 0 11,041 Special drawing rights certificate account 2,200 0 0 2,200 Treasury currency outstanding5 38,793 + 14 + 602 38,793 Total factors supplying reserve funds 922,964 + 7,171 + 26,067 924,838 Currency in circulation5 819,571 + 1,276 + 10,920 823,138 Reverse repurchase agreements6 37,089 - 883 + 7,548 36,430 Foreign official and international accounts 37,089 - 883 + 7,548 36,430 Dealers 0 0 0 0 Treasury cash holdings 247 - 9 + 43 246 Deposits with F.R. Banks, other than reserve balances 14,475 + 2,718 + 1,046 11,540 U.S. Treasury, general account 7,500 + 2,669 + 1,434 4,586 Foreign official 104 + 7 + 9 96 Service-related 6,598 + 45 - 425 6,598 Required clearing balances 6,541 0 - 475 6,541 Adjustments to compensate for float 57 + 44 + 50 57 Other 272 - 3 + 27 260 Other liabilities and capital 42,809 - 255 + 6,383 42,403 Total factors, other than reserve balances, absorbing reserve funds 914,190 + 2,847 + 25,939 913,757 Reserve balances with Federal Reserve Banks 8,775 + 4,324 + 130 11,080 Memo (off-balance-sheet items): Marketable securities held in custody for foreign official and international accounts2,7 2,047,895 + 7,592 + 305,793 2,047,648 U.S. Treasury 1,224,633 - 3,981 + 68,034 1,221,665 Federal agency 823,262 + 11,574 + 237,760 825,983 Securities lent to dealers 10,752 + 2,833 + 9,789 8,449 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 19, 2007 Dec 12, 2007 Dec 20, 2006 Assets Gold certificate account 11,037 0 0 Special drawing rights certificate account 2,200 0 0 Coin 1,198 - 11 + 377 Securities, repurchase agreements, and loans 832,271 + 5,239 + 21,042 Securities held outright 769,755 - 4,980 - 7,883 U.S. Treasury1 769,755 - 4,980 - 7,883 Bills2 257,019 - 5,000 - 20,000 Notes and bonds, nominal2 470,984 0 + 4,462 Notes and bonds, inflation-indexed2 36,911 0 + 6,806 Inflation compensation3 4,842 + 21 + 849 Federal agency2 0 0 0 Repurchase agreements4 57,750 + 10,000 + 24,250 Loans 4,765 + 218 + 4,675 Items in process of collection (709) 3,385 + 972 - 1,429 Bank premises 2,124 + 4 + 193 Other assets5 39,061 - 26 + 2,148 Total assets (709) 891,276 + 6,179 + 22,332 Liabilities Federal Reserve notes, net of F.R. Bank holdings 785,785 + 3,272 + 9,876 Reverse repurchase agreements6 36,430 - 1,334 + 6,527 Deposits (0) 22,602 + 3,991 + 330 Depository institutions 17,661 + 3,772 + 1,172 U.S. Treasury, general account 4,586 + 253 - 850 Foreign official 96 - 1 + 7 Other (0) 260 - 32 + 2 Deferred availability cash items (709) 4,055 + 670 - 412 Other liabilities and accrued dividends7 5,860 - 87 - 89 Total liabilities (709) 854,733 + 6,513 + 16,234 Capital accounts Capital paid in 18,217 - 65 + 2,891 Surplus 15,460 - 1 + 4,906 Other capital accounts 2,867 - 266 - 1,698 Total capital 36,543 - 334 + 6,098 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 19, 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 265 48,814 + 2,703 0 0 49,750 36,430 16 days to 90 days 4,500 153,854 - 8,842 0 0 8,000 0 91 days to 1 year 0 162,951 + 2,463 0 0 . . . . . . Over 1 year to 5 years . . . 233,394 - 1,315 0 0 . . . . . . Over 5 years to 10 years . . . 81,942 + 4 0 0 . . . . . . Over 10 years . . . 88,801 + 8 0 0 . . . . . . All 4,765 769,755 - 4,980 0 0 57,750 36,430 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 19, 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 1,1 9 8 3 8 5 6 9 0 1 1 2 1 3 9 1 5 7 1 3 8 5 2 4 6 7 3 1 3 0 166 Securities, repurchase agreements, and loans 832,2 7 1 38,3 6 2 304,1 3 8 36,6 1 4 33,8 6 4 71,6 9 7 76,7 4 9 69,4 1 3 26,4 4 8 16,5 1 8 26,8 0 1 36,3 6 0 95,306 Securities held outright 769,7 5 5 35,4 7 5 278,7 2 6 34,0 5 4 31,5 0 1 66,6 9 3 71,3 9 3 64,5 6 5 24,6 0 2 15,3 5 8 24,9 1 8 33,8 2 0 88,650 U.S. Treasury1 769,7 5 5 35,4 7 5 278,7 2 6 34,0 5 4 31,5 0 1 66,6 9 3 71,3 9 3 64,5 6 5 24,6 0 2 15,3 5 8 24,9 1 8 33,8 2 0 88,650 Bills2 257,0 1 9 11,8 4 5 93,0 6 6 11,3 7 1 10,5 1 8 22,2 6 9 23,8 3 8 21,5 5 8 8,2 1 5 5,1 2 8 8,3 2 0 11,2 9 3 29,600 Notes and bonds3 512,7 3 6 23,6 3 0 185,6 6 0 22,6 8 4 20,9 8 3 44,4 2 5 47,5 5 5 43,0 0 7 16,3 8 8 10,2 3 0 16,5 9 8 22,5 2 8 59,050 Federal agency2 0 0 0 0 0 0 0 0 0 0 0 0 0 Repurchase agreements4 57,7 5 0 2,6 6 1 20,9 1 1 2,5 5 5 2,3 6 3 5,0 0 4 5,3 5 6 4,8 4 4 1,8 4 6 1,1 5 2 1,8 6 9 2,5 3 7 6,651 Loans 4,7 6 5 2 2 6 4,5 0 1 5 0 0 0 5 0 7 1 4 3 5 Items in process of collection 4,0 9 4 1 0 8 6 7 3 4 3 1,2 0 4 1 8 8 1 8 5 2 3 5 1 0 8 2 4 8 6 7 9 1 6 2 567 Bank premises 2,1 2 4 1 1 9 2 1 5 6 4 1 5 4 1 8 1 2 3 0 2 0 4 1 1 0 1 1 3 2 6 4 2 5 7 214 Other assets5 39,0 6 1 1,2 8 7 12,0 5 5 3,3 7 4 2,2 6 5 7,4 6 0 3,3 0 0 2,5 2 6 7 5 2 7 2 8 7 6 6 9 9 9 3,549 Interdistrict settlement account 0 - 2,3 0 8 - 6,8 8 2 - 7 4 - 6 2 5 + 4,7 6 1 - 8 5 4 + 5,9 5 4 + 3,6 6 3 + 8 2 7 + 3,7 7 5 - 2,6 9 8 - 5,540 Total assets 891,9 8 5 38,1 7 1 314,5 7 4 40,9 5 0 37,5 0 7 85,4 4 1 81,0 5 0 79,5 8 5 31,5 2 9 18,7 1 3 32,7 6 0 35,9 2 2 95,783 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 19, 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 1,014,23 2 39,3 3 2 357,70 5 42,1 0 9 39,6 9 0 81,4 5 1 109,3 8 8 87,1 1 3 33,3 4 9 19,4 3 4 33,7 2 6 57,6 5 3 113,282 Less: notes held by F.R. Banks 228,44 7 6,2 5 3 76,44 5 8,1 5 6 7,9 1 5 14,5 4 2 36,9 4 8 14,6 1 1 4,0 3 3 3,0 1 2 3,5 3 8 25,2 5 5 27,739 Federal Reserve notes, net 785,78 5 33,0 7 9 281,26 1 33,9 5 3 31,7 7 5 66,9 0 9 72,4 4 0 72,5 0 1 29,3 1 6 16,4 2 3 30,1 8 8 32,3 9 8 85,542 Reverse repurchase agreements1 36,43 0 1,6 7 9 13,19 1 1,6 1 2 1,4 9 1 3,1 5 6 3,3 7 9 3,0 5 6 1,1 6 4 7 2 7 1,1 7 9 1,6 0 1 4,196 Deposits 22,60 2 9 7 7 9,06 9 6 7 2 1,1 1 3 4,1 0 0 1,3 9 3 1,4 6 9 3 6 2 3 3 4 3 7 2 6 7 8 2,063 Depository institutions 17,66 1 9 6 6 4,24 6 6 6 7 1,1 0 9 4,0 2 7 1,3 9 0 1,4 6 6 3 5 0 3 3 4 3 7 0 6 7 7 2,059 U.S. Treasury, general account 4,58 6 0 4,58 6 0 0 0 0 0 0 0 0 0 0 Foreign official 9 6 1 6 6 5 3 1 1 3 2 0 1 0 1 3 Other 26 0 1 0 17 2 1 2 6 2 0 0 1 2 0 2 0 0 Deferred availability cash items 4,76 4 2 4 5 14 1 8 0 7 5 5 2 3 7 5 4 2 6 3 7 5 1 0 5 3 6 1 4 3 9 2 3 3 707 Other liabilities and accrued dividends2 5,86 0 2 6 1 1,69 8 2 8 3 2 7 2 9 7 5 5 5 7 4 5 5 2 0 6 1 5 5 1 9 1 2 6 5 542 Total liabilities 855,44 2 36,2 4 1 305,36 0 37,3 2 7 35,2 0 3 75,5 1 5 78,1 9 5 77,8 5 6 31,1 5 4 17,9 9 9 32,3 6 9 35,1 7 3 93,050 Capital Capital paid in 18,21 7 1,0 4 9 4,53 8 1,8 1 4 1,1 5 4 4,9 9 6 1,4 2 0 8 1 9 1 8 0 3 5 4 1 9 0 3 6 2 1,339 Surplus 15,46 0 3 9 6 3,84 5 1,8 1 0 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 5 1,248 Other capital 2,86 7 4 8 5 83 2 0 6 1 8 3 1 1 5 6 5 0 2 8 8 3 2 4 1 7 1 146 Total liabilities and capital 891,98 5 38,1 7 1 314,57 4 40,9 5 0 37,5 0 7 85,4 4 1 81,0 5 0 79,5 8 5 31,5 2 9 18,7 1 3 32,7 6 0 35,9 2 2 95,783 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 19, 2007 Federal Reserve notes outstanding 1,014,232 Less: Notes held by F.R. Banks not subject to collateralization 228,447 Federal Reserve notes to be collateralized 785,785 Collateral held against Federal Reserve notes 785,785 Gold certificate account 11,037 Special drawing rights certificate account 2,200 U.S. Treasury and agency securities pledged1 772,548 Other assets pledged 0 Memo: Total U.S. Treasury and agency securities1 827,505 Less: face value of securities under reverse repurchase agreements 36,470 U.S. Treasury and agency securities eligible to be pledged 791,035 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.