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 17, 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 16, 2008 Jan 9, 2008 Jan 17, 2007 Jan 16, 2008 Reserve Bank credit 867,536 - 1,669 + 21,540 878,965 Securities held outright 728,238 + 56 - 50,653 728,259 U.S. Treasury1 728,238 + 56 - 50,653 728,259 Bills2 215,360 0 - 61,659 215,360 Notes and bonds, nominal2 470,984 0 + 3,120 470,984 Notes and bonds, inflation-indexed2 37,068 + 157 + 6,825 37,463 Inflation compensation3 4,826 - 102 + 1,061 4,452 Federal agency2 0 0 0 0 Repurchase agreements4 31,321 - 1,715 + 3,821 39,000 Term auction credit 40,000 0 + 40,000 40,000 Other loans to depository institutions 1,236 - 281 + 952 5,567 Primary credit 1,230 - 282 + 965 5,557 Secondary credit 0 0 0 0 Seasonal credit 6 + 1 - 13 10 Float -1,044 - 313 - 849 -1,225 Other Federal Reserve assets 67,784 + 582 + 28,268 67,364 Gold stock 11,041 0 0 11,041 Special drawing rights certificate account 2,200 0 0 2,200 Treasury currency outstanding5 38,849 + 14 + 619 38,849 Total factors supplying reserve funds 919,626 - 1,656 + 22,160 931,055 Currency in circulation5 813,618 - 9,110 + 5,744 812,825 Reverse repurchase agreements6 38,568 - 487 + 8,082 41,079 Foreign official and international accounts 38,568 - 487 + 8,082 41,079 Dealers 0 0 0 0 Treasury cash holdings 272 + 8 + 30 286 Deposits with F.R. Banks, other than reserve balances 12,225 + 83 + 224 12,731 U.S. Treasury, general account 5,171 + 25 + 485 5,674 Foreign official 100 - 2 + 10 97 Service-related 6,651 0 - 264 6,651 Required clearing balances 6,651 0 - 264 6,651 Adjustments to compensate for float 0 0 0 0 Other 303 + 60 - 7 309 Other liabilities and capital 43,258 + 380 + 6,555 42,632 Total factors, other than reserve balances, absorbing reserve funds 907,942 - 9,125 + 20,637 909,553 Reserve balances with Federal Reserve Banks 11,684 + 7,470 + 1,523 21,502 Memo (off-balance-sheet items): Marketable securities held in custody for foreign official and international accounts2,7 2,071,675 + 14,426 + 299,224 2,082,535 U.S. Treasury 1,238,967 + 7,129 + 71,155 1,245,684 Federal agency 832,708 + 7,297 + 228,069 836,851 Securities lent to dealers 7,073 - 2,613 + 5,890 6,505 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 16, 2008 Jan 9, 2008 Jan 17, 2007 Assets Gold certificate account 11,037 0 0 Special drawing rights certificate account 2,200 0 0 Coin 1,246 + 44 + 338 Securities, repurchase agreements, term auction credit, and other loans 812,826 + 13,108 + 12,433 Securities held outright 728,259 + 56 - 50,628 U.S. Treasury1 728,259 + 56 - 50,628 Bills2 215,360 0 - 61,659 Notes and bonds, nominal2 470,984 0 + 3,120 Notes and bonds, inflation-indexed2 37,463 + 552 + 6,876 Inflation compensation3 4,452 - 496 + 1,035 Federal agency2 0 0 0 Repurchase agreements4 39,000 + 8,500 + 19,250 Term auction credit 40,000 0 + 40,000 Other loans 5,567 + 4,552 + 3,811 Items in process of collection (663) 2,062 - 585 - 7,270 Bank premises 2,132 0 + 188 Other assets5 65,327 + 263 + 27,921 Total assets (663) 896,830 + 12,831 + 33,611 Liabilities Federal Reserve notes, net of F.R. Bank holdings 775,503 - 6,300 + 5,845 Reverse repurchase agreements6 41,079 + 3,306 + 10,024 Deposits (0) 34,328 + 15,767 + 14,686 Depository institutions 28,248 + 15,356 + 14,535 U.S. Treasury, general account 5,674 + 311 + 141 Foreign official 97 - 1 + 7 Other (0) 309 + 100 + 2 Deferred availability cash items (663) 3,287 - 97 - 3,101 Other liabilities and accrued dividends7 5,068 + 14 - 434 Total liabilities (663) 859,267 + 12,691 + 27,021 Capital accounts Capital paid in 18,448 - 11 + 3,116 Surplus 18,417 + 61 + 3,351 Other capital accounts 698 + 91 + 123 Total capital 37,563 + 141 + 6,590 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 16, 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 40,000 5,567 43,205 + 3,476 39,000 41,079 16 days to 90 days 0 0 131,419 - 5,777 0 0 91 days to 1 year . . . 0 148,990 + 4,287 . . . . . . Over 1 year to 5 years . . . . . . 231,397 - 4,376 . . . . . . Over 5 years to 10 years . . . . . . 81,969 + 9 . . . . . . Over 10 years . . . . . . 91,278 + 2,435 . . . . . . All 40,000 5,567 728,259 + 56 39,000 41,079 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 16, 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 1,246 39 58 91 119 148 164 142 52 50 76 136 171 Securities, repurchase agreements, term auction credit, and other loans 812,826 35,366 315,279 33,945 31,561 68,524 71,189 65,439 25,573 15,318 24,896 35,111 90,624 Securities held outright 728,259 33,562 263,701 32,218 29,803 63,098 67,544 61,084 23,276 14,530 23,574 31,997 83,871 U.S. Treasury1 728,259 33,562 263,701 32,218 29,803 63,098 67,544 61,084 23,276 14,530 23,574 31,997 83,871 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 512,899 23,637 185,719 22,691 20,989 44,439 47,570 43,020 16,393 10,233 16,603 22,535 59,069 Federal agency2 0 0 0 0 0 0 0 0 0 0 0 0 0 Repurchase agreements4 39,000 1,797 14,122 1,725 1,596 3,379 3,617 3,271 1,246 778 1,262 1,714 4,491 Term auction credit 40,000 0 33,957 0 12 775 25 1,080 1,050 0 0 1,400 1,701 Other loans 5,567 6 3,500 1 150 1,272 3 4 1 9 60 0 561 Items in process of collection 2,726 137 128 218 502 95 181 287 75 161 315 140 487 Bank premises 2,132 120 215 64 153 182 230 205 112 113 269 256 215 Other assets5 65,327 1,993 18,566 6,382 4,104 14,332 5,478 4,011 1,061 1,197 1,090 1,384 5,730 Interdistrict settlement account 0 + 983 -17,226 - 670 + 698 - 1,826 + 2,231 + 9,399 + 4,244 + 1,748 + 6,105 - 1,985 - 3,700 Total assets 897,494 39,201 321,946 40,568 37,669 82,470 80,755 80,598 31,514 18,818 33,153 35,753 95,048 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 16, 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 1,006,0 7 9 39,6 3 0 352,2 4 3 42,3 0 3 39,8 8 1 81,2 2 4 107,6 8 7 86,9 3 6 33,2 8 1 19,3 9 6 33,6 5 1 57,1 6 6 112,682 Less: notes held by F.R. Banks 230,5 7 6 6,5 9 4 73,1 3 0 8,7 1 7 8,8 9 9 15,2 2 4 36,8 8 7 14,9 2 1 4,4 1 6 3,0 8 1 3,8 0 0 26,1 0 6 28,800 Federal Reserve notes, net 775,5 0 3 33,0 3 5 279,1 1 3 33,5 8 6 30,9 8 1 66,0 0 1 70,8 0 0 72,0 1 5 28,8 6 5 16,3 1 6 29,8 5 1 31,0 5 9 83,882 Reverse repurchase agreements1 41,0 7 9 1,8 9 3 14,8 7 5 1,8 1 7 1,6 8 1 3,5 5 9 3,8 1 0 3,4 4 6 1,3 1 3 8 2 0 1,3 3 0 1,8 0 5 4,731 Deposits 34,3 2 8 1,7 7 9 16,4 5 1 7 0 2 1,6 6 8 2,0 2 8 2,4 2 2 2,6 8 9 6 8 1 5 7 7 1,1 2 3 1,6 1 9 2,589 Depository institutions 28,2 4 8 1,7 7 5 10,5 3 7 6 7 6 1,6 8 4 1,9 0 0 2,4 1 8 2,6 8 6 6 7 0 5 7 6 1,1 2 1 1,6 1 8 2,586 U.S. Treasury, general account 5,6 7 4 0 5,6 7 4 0 0 0 0 0 0 0 0 0 0 Foreign official 9 7 1 6 7 5 3 1 1 3 2 0 1 0 1 3 Other 3 0 9 3 1 7 3 2 1 - 1 8 1 1 7 0 0 1 1 0 1 0 0 Deferred availability cash items 3,9 5 1 2 1 9 9 8 5 7 7 5 1 3 2 8 7 3 9 1 3 4 4 8 8 2 5 2 2 7 2 2 7 8 631 Other liabilities and accrued dividends2 5,0 6 8 2 0 8 1,9 0 0 2 0 8 2 2 1 5 0 8 4 7 6 4 0 2 1 8 3 1 3 0 1 6 8 2 3 1 433 Total liabilities 859,9 3 0 37,1 3 4 312,4 3 7 36,8 9 1 35,0 6 5 72,3 8 4 77,8 9 9 78,8 9 6 31,1 3 0 18,0 9 4 32,7 4 4 34,9 9 2 92,266 Capital Capital paid in 18,4 4 8 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 1,339 Surplus 18,4 1 7 1,0 1 6 4,6 1 9 1,8 1 3 1,2 9 1 4,9 9 6 1,4 2 5 8 1 4 1 8 0 3 5 5 1 9 4 3 6 3 1,350 Other capital 6 9 8 1 2 7 2 4 9 2 2 9 5 1 7 2 2 4 1 5 2 1 3 4 93 Total liabilities and capital 897,4 9 4 39,2 0 1 321,9 4 6 40,5 6 8 37,6 6 9 82,4 7 0 80,7 5 5 80,5 9 8 31,5 1 4 18,8 1 8 33,1 5 3 35,7 5 3 95,048 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 16, 2008 Federal Reserve notes outstanding 1,006,079 Less: Notes held by F.R. Banks not subject to collateralization 230,576 Federal Reserve notes to be collateralized 775,503 Collateral held against Federal Reserve notes 775,503 Gold certificate account 11,037 Special drawing rights certificate account 2,200 U.S. Treasury and agency securities pledged1 726,122 Other assets pledged 36,144 Memo: Total U.S. Treasury and agency securities1 767,259 Less: face value of securities under reverse repurchase agreements 41,137 U.S. Treasury and agency securities eligible to be pledged 726,122 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.