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 January 10, 2008 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 Jan 9, 2008 Jan 2, 2008 Jan 10, 2007 Jan 9, 2008 Reserve Bank credit 869,212 - 22,531 + 24,583 866,171 Securities held outright 728,182 - 12,429 - 50,720 728,203 U.S. Treasury1 728,182 - 12,429 - 50,720 728,203 Bills2 215,360 - 12,481 - 61,659 215,360 Notes and bonds, nominal2 470,984 0 + 3,120 470,984 Notes and bonds, inflation-indexed2 36,911 0 + 6,806 36,911 Inflation compensation3 4,928 + 52 + 1,013 4,948 Federal agency2 0 0 0 0 Repurchase agreements4 33,036 - 6,714 + 6,465 30,500 Term auction credit 40,000 0 + 40,000 40,000 Other loans to depository institutions 1,517 - 4,270 + 1,478 1,015 Primary credit 1,512 - 4,258 + 1,490 1,010 Secondary credit 0 0 0 0 Seasonal credit 5 - 11 - 11 5 Float -724 + 293 - 462 -738 Other Federal Reserve assets 67,202 + 589 + 27,824 67,190 Gold stock 11,041 0 0 11,041 Special drawing rights certificate account 2,200 0 0 2,200 Treasury currency outstanding5 38,835 + 14 + 617 38,835 Total factors supplying reserve funds 921,288 - 22,518 + 25,201 918,247 Currency in circulation5 822,728 - 6,487 + 10,279 819,171 Reverse repurchase agreements6 39,055 - 2,818 + 9,396 37,773 Foreign official and international accounts 39,055 - 2,818 + 9,396 37,773 Dealers 0 0 0 0 Treasury cash holdings 264 + 5 + 3 270 Deposits with F.R. Banks, other than reserve balances 12,142 - 3,964 + 74 12,320 U.S. Treasury, general account 5,146 - 3,547 + 349 5,363 Foreign official 102 + 5 + 12 98 Service-related 6,651 + 36 - 285 6,651 Required clearing balances 6,651 + 36 - 266 6,651 Adjustments to compensate for float 0 0 - 19 0 Other 243 - 458 - 2 209 Other liabilities and capital 42,878 - 331 + 6,412 42,477 Total factors, other than reserve balances, absorbing reserve funds 917,067 - 13,596 + 26,164 912,011 Reserve balances with Federal Reserve Banks 4,221 - 8,921 - 963 6,236 Memo (off-balance-sheet items): Marketable securities held in custody for foreign official and international accounts2,7 2,057,249 - 3,638 + 286,987 2,058,359 U.S. Treasury 1,231,838 + 997 + 63,988 1,233,183 Federal agency 825,411 - 4,635 + 222,999 825,176 Securities lent to dealers 9,686 - 6,818 + 6,579 4,976 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 Jan 9, 2008 Jan 2, 2008 Jan 10, 2007 Assets Gold certificate account 11,037 0 0 Special drawing rights certificate account 2,200 0 0 Coin 1,202 + 33 + 337 Securities, repurchase agreements, term auction credit, and other loans 799,718 - 42,582 - 701 Securities held outright 728,203 - 12,424 - 50,695 U.S. Treasury1 728,203 - 12,424 - 50,695 Bills2 215,360 - 12,481 - 61,659 Notes and bonds, nominal2 470,984 0 + 3,120 Notes and bonds, inflation-indexed2 36,911 0 + 6,806 Inflation compensation3 4,948 + 56 + 1,037 Federal agency2 0 0 0 Repurchase agreements4 30,500 - 26,250 + 9,000 Term auction credit 40,000 0 + 40,000 Other loans 1,015 - 3,908 + 994 Items in process of collection (569) 2,647 + 497 - 2,157 Bank premises 2,132 - 2 + 188 Other assets5 65,064 + 353 + 27,645 Total assets (569) 883,999 - 41,702 + 25,310 Liabilities Federal Reserve notes, net of F.R. Bank holdings 781,803 - 9,881 + 8,857 Reverse repurchase agreements6 37,773 - 3,136 + 8,852 Deposits (0) 18,561 - 28,883 + 3,135 Depository institutions 12,892 - 26,877 + 2,785 U.S. Treasury, general account 5,363 - 1,914 + 364 Foreign official 98 0 + 7 Other (0) 209 - 93 - 21 Deferred availability cash items (569) 3,384 + 187 - 1,666 Other liabilities and accrued dividends7 5,054 - 195 - 464 Total liabilities (569) 846,576 - 41,908 + 18,715 Capital accounts Capital paid in 18,459 + 13 + 3,128 Surplus 18,356 + 54 + 3,325 Other capital accounts 607 + 137 + 141 Total capital 37,422 + 205 + 6,594 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 Term Auction Credit, Other Loans, and Securities, January 9, 2008 Millions of dollars U.S. Treasury Reverse Term auction Other securities1 Repurchase Remaining maturity credit loans Weekly agreements2 repurchase Holdings agreements2 changes Within 15 days 20,000 1,010 39,729 - 133 30,500 37,773 16 days to 90 days 20,000 5 137,196 - 6,521 0 0 91 days to 1 year . . . 0 144,703 - 5,823 . . . . . . Over 1 year to 5 years . . . . . . 235,773 + 22 . . . . . . Over 5 years to 10 years . . . . . . 81,960 + 10 . . . . . . Over 10 years . . . . . . 88,843 + 22 . . . . . . All 40,000 1,015 728,203 - 12,424 30,500 37,773 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.

H.4.1 4. Statement of Condition of Each Federal Reserve Bank on January 9, 2008 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 11,037 449 4,053 455 428 869 1,117 903 326 203 335 613 1,286 Special drawing rights certificate acct. 2,200 115 874 83 104 147 166 212 71 30 66 98 234 Coin 1,202 35 53 88 114 142 157 139 50 48 74 134 166 Securities, repurchase agreements, term auction credit, and other loans 799,718 34,966 309,181 33,565 31,061 66,511 70,395 64,718 25,299 15,138 24,565 34,735 89,586 Securities held outright 728,203 33,560 263,680 32,216 29,800 63,093 67,539 61,079 23,274 14,529 23,573 31,995 83,864 U.S. Treasury1 728,203 33,560 263,680 32,216 29,800 63,093 67,539 61,079 23,274 14,529 23,573 31,995 83,864 Bills2 215,360 9,925 77,981 9,528 8,813 18,659 19,974 18,064 6,883 4,297 6,971 9,462 24,802 Notes and bonds3 512,843 23,635 185,699 22,688 20,987 44,434 47,565 43,016 16,391 10,232 16,601 22,533 59,062 Federal agency2 0 0 0 0 0 0 0 0 0 0 0 0 0 Repurchase agreements4 30,500 1,406 11,044 1,349 1,248 2,643 2,829 2,558 975 609 987 1,340 3,513 Term auction credit 40,000 0 33,957 0 12 775 25 1,080 1,050 0 0 1,400 1,701 Other loans 1,015 1 500 0 0 0 2 0 0 0 5 0 508 Items in process of collection 3,216 118 325 277 485 152 259 329 163 152 297 185 473 Bank premises 2,132 120 215 64 153 182 230 205 112 113 269 256 214 Other assets5 65,064 1,971 18,488 6,382 4,086 14,254 5,496 3,987 1,060 1,193 1,087 1,379 5,680 Interdistrict settlement account 0 - 158 -18,827 - 263 + 875 + 1,694 + 2,039 + 8,620 + 4,109 + 1,677 + 5,837 - 2,505 - 3,098 Total assets 884,568 37,616 314,362 40,652 37,305 83,950 79,858 79,112 31,190 18,554 32,530 34,895 94,542 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 January 9, 2008 (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 1,007,9 4 3 39,3 7 2 354,0 5 9 42,1 0 8 39,6 0 9 81,2 7 8 108,0 9 1 87,0 1 5 33,2 6 8 19,3 8 1 33,6 4 7 57,3 1 0 112,805 Less: notes held by F.R. Banks 226,1 4 0 6,3 5 1 73,7 5 7 8,0 8 3 8,0 4 0 14,5 4 3 36,4 6 4 14,5 0 3 4,2 1 5 2,9 9 3 3,6 1 9 25,9 2 1 27,653 Federal Reserve notes, net 781,8 0 3 33,0 2 1 280,3 0 3 34,0 2 6 31,5 6 9 66,7 3 5 71,6 2 6 72,5 1 3 29,0 5 3 16,3 8 8 30,0 2 7 31,3 9 0 85,152 Reverse repurchase agreements1 37,7 7 3 1,7 4 1 13,6 7 7 1,6 7 1 1,5 4 6 3,2 7 3 3,5 0 3 3,1 6 8 1,2 0 7 7 5 4 1,2 2 3 1,6 6 0 4,350 Deposits 18,5 6 1 4 3 2 8,9 0 4 4 3 8 8 6 2 3,0 9 0 9 7 2 1,0 3 8 2 7 8 2 4 5 4 4 4 6 4 2 1,217 Depository institutions 12,8 9 2 4 3 1 3,3 1 5 4 3 3 8 5 8 3,0 4 2 9 6 8 1,0 3 5 2 6 7 2 4 4 4 4 2 6 4 2 1,214 U.S. Treasury, general account 5,3 6 3 0 5,3 6 3 0 0 0 0 0 0 0 0 0 0 Foreign official 9 8 1 6 7 5 3 1 1 3 2 0 1 0 1 3 Other 2 0 9 0 1 5 9 0 1 3 7 0 0 1 1 0 1 0 0 Deferred availability cash items 3,9 5 3 1 8 1 8 3 6 5 5 5 4 8 3 1 1 3 7 9 3 1 1 8 5 3 1 8 2 5 8 2 1 7 608 Other liabilities and accrued dividends2 5,0 5 4 2 1 1 1,8 8 1 2 1 0 2 2 3 5 0 9 4 6 8 3 9 6 1 8 6 1 2 9 1 7 0 2 3 3 439 Total liabilities 847,1 4 5 35,5 8 6 304,8 4 9 37,0 0 0 34,7 4 8 73,9 1 9 76,9 4 8 77,4 2 6 30,8 0 9 17,8 3 3 32,1 2 1 34,1 4 2 91,766 Capital Capital paid in 18,4 5 9 1,0 4 9 4,6 1 9 1,8 1 4 1,2 9 1 4,9 9 6 1,4 3 1 8 1 6 1 8 0 3 5 5 1 9 4 3 6 4 1,350 Surplus 18,3 5 6 9 8 1 4,6 1 9 1,8 1 3 1,2 6 6 4,9 9 6 1,4 2 1 8 1 8 1 8 0 3 5 5 1 9 4 3 6 3 1,350 Other capital 6 0 7 0 2 7 6 2 5 0 3 9 5 8 5 2 2 1 1 2 2 1 2 6 76 Total liabilities and capital 884,5 6 8 37,6 1 6 314,3 6 2 40,6 5 2 37,3 0 5 83,9 5 0 79,8 5 8 79,1 1 2 31,1 9 0 18,5 5 4 32,5 3 0 34,8 9 5 94,542 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 Jan 9, 2008 Federal Reserve notes outstanding 1,007,943 Less: Notes held by F.R. Banks not subject to collateralization 226,140 Federal Reserve notes to be collateralized 781,803 Collateral held against Federal Reserve notes 781,803 Gold certificate account 11,037 Special drawing rights certificate account 2,200 U.S. Treasury and agency securities pledged1 720,876 Other assets pledged 47,691 Memo: Total U.S. Treasury and agency securities1 758,703 Less: face value of securities under reverse repurchase agreements 37,827 U.S. Treasury and agency securities eligible to be pledged 720,876 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.