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 31, 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 30, 2008 Jan 23, 2008 Jan 31, 2007 Jan 30, 2008 Reserve Bank credit 864,627 + 3,139 + 20,535 885,732 Securities held outright 718,350 - 4,948 - 60,518 718,371 U.S. Treasury1 718,350 - 4,948 - 60,518 718,371 Bills2 205,360 - 5,000 - 71,659 205,360 Notes and bonds, nominal2 470,984 0 + 3,290 470,984 Notes and bonds, inflation-indexed2 37,463 0 + 6,706 37,463 Inflation compensation3 4,544 + 53 + 1,146 4,564 Federal agency2 0 0 0 0 Repurchase agreements4 29,393 + 7,893 + 3,893 50,000 Term auction credit 50,000 0 + 50,000 50,000 Other loans to depository institutions 28 - 724 - 182 46 Primary credit 25 - 719 - 164 43 Secondary credit 0 0 0 0 Seasonal credit 2 - 6 - 20 3 Float -1,140 + 132 - 196 -1,122 Other Federal Reserve assets 67,996 + 786 + 27,538 68,437 Gold stock 11,041 0 0 11,041 Special drawing rights certificate account 2,200 0 0 2,200 Treasury currency outstanding5 38,877 + 14 + 623 38,877 Total factors supplying reserve funds 916,745 + 3,153 + 21,159 937,850 Currency in circulation5 809,883 - 2,347 + 9,075 811,506 Reverse repurchase agreements6 39,481 - 224 + 7,775 39,485 Foreign official and international accounts 39,481 - 224 + 7,775 39,485 Dealers 0 0 0 0 Treasury cash holdings 302 + 14 + 92 288 Deposits with F.R. Banks, other than reserve balances 11,752 - 689 - 516 12,172 U.S. Treasury, general account 4,650 - 685 - 405 5,082 Foreign official 101 - 1 + 11 99 Service-related 6,671 - 8 - 165 6,671 Required clearing balances 6,671 - 8 - 165 6,671 Adjustments to compensate for float 0 0 0 0 Other 330 + 5 + 43 320 Other liabilities and capital 42,703 + 187 + 5,286 42,443 Total factors, other than reserve balances, absorbing reserve funds 904,121 - 3,060 + 21,712 905,894 Reserve balances with Federal Reserve Banks 12,624 + 6,212 - 554 31,956 Memo (off-balance-sheet items): Marketable securities held in custody for foreign official and international accounts2,7 2,110,355 + 14,588 + 320,162 2,118,480 U.S. Treasury 1,256,281 + 5,179 + 82,978 1,263,048 Federal agency 854,073 + 9,408 + 237,183 855,431 Securities lent to dealers 11,509 + 1,076 + 10,220 11,461 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 30, 2008 Jan 23, 2008 Jan 31, 2007 Assets Gold certificate account 11,037 0 0 Special drawing rights certificate account 2,200 0 0 Coin 1,369 + 75 + 300 Securities, repurchase agreements, term auction credit, and other loans 818,417 + 23,082 + 6,228 Securities held outright 718,371 - 4,944 - 60,492 U.S. Treasury1 718,371 - 4,944 - 60,492 Bills2 205,360 - 5,000 - 71,659 Notes and bonds, nominal2 470,984 0 + 4,309 Notes and bonds, inflation-indexed2 37,463 0 + 5,687 Inflation compensation3 4,564 + 56 + 1,171 Federal agency2 0 0 0 Repurchase agreements4 50,000 + 28,000 + 18,000 Term auction credit 50,000 0 + 50,000 Other loans 46 + 26 - 1,280 Items in process of collection (546) 1,725 - 963 - 1,004 Bank premises 2,140 + 3 + 178 Other assets5 66,167 + 1,011 + 27,794 Total assets (546) 903,055 + 23,208 + 33,496 Liabilities Federal Reserve notes, net of F.R. Bank holdings 774,282 - 430 + 8,696 Reverse repurchase agreements6 39,485 + 1,990 + 7,106 Deposits (0) 43,998 + 22,743 + 13,341 Depository institutions 38,497 + 22,513 + 14,269 U.S. Treasury, general account 5,082 + 211 - 971 Foreign official 99 + 2 + 9 Other (0) 320 + 16 + 35 Deferred availability cash items (546) 2,847 - 1,386 - 1,364 Other liabilities and accrued dividends7 4,546 + 140 - 1,022 Total liabilities (546) 865,158 + 23,056 + 26,758 Capital accounts Capital paid in 18,472 + 7 + 3,114 Surplus 18,480 + 36 + 3,353 Other capital accounts 945 + 109 + 271 Total capital 37,897 + 152 + 6,738 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 30, 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 50,000 40 48,770 + 2,225 50,000 39,485 16 days to 90 days 0 7 115,775 - 7,346 0 0 91 days to 1 year . . . 0 149,079 + 126 . . . . . . Over 1 year to 5 years . . . . . . 231,432 + 18 . . . . . . Over 5 years to 10 years . . . . . . 84,407 + 12 . . . . . . Over 10 years . . . . . . 88,909 + 22 . . . . . . All 50,000 46 718,371 - 4,944 50,000 39,485 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 30, 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 1,369 47 63 101 128 162 181 152 58 54 85 148 190 Securities, repurchase agreements, term auction credit, and other loans 818,417 35,434 313,874 33,995 32,537 67,333 74,300 65,353 25,608 16,831 24,895 35,010 93,249 Securities held outright 718,371 33,107 260,120 31,781 29,398 62,241 66,627 60,255 22,960 14,333 23,254 31,563 82,732 U.S. Treasury1 718,371 33,107 260,120 31,781 29,398 62,241 66,627 60,255 22,960 14,333 23,254 31,563 82,732 Bills2 205,360 9,464 74,360 9,085 8,404 17,793 19,047 17,225 6,564 4,097 6,648 9,023 23,650 Notes and bonds3 513,011 23,643 185,760 22,696 20,994 44,448 47,581 43,030 16,396 10,236 16,607 22,540 59,081 Federal agency2 0 0 0 0 0 0 0 0 0 0 0 0 0 Repurchase agreements4 50,000 2,304 18,105 2,212 2,046 4,332 4,637 4,194 1,598 998 1,619 2,197 5,758 Term auction credit 50,000 20 35,649 0 1,093 760 3,035 905 1,050 1,500 20 1,250 4,719 Other loans 46 3 0 2 0 0 0 0 0 0 2 0 40 Items in process of collection 2,271 97 404 90 258 237 126 129 29 117 182 142 459 Bank premises 2,140 120 215 65 153 183 229 206 114 113 269 256 217 Other assets5 66,167 2,024 18,934 6,407 4,137 14,390 5,577 4,065 1,083 1,212 1,120 1,421 5,798 Interdistrict settlement account 0 - 107 - 6,912 - 1,555 - 971 - 127 + 1,275 + 8,800 + 3,361 + 1,640 + 5,275 - 2,582 - 8,097 Total assets 903,601 38,180 331,505 39,640 36,773 83,193 82,971 79,821 30,650 20,199 32,227 35,105 93,336 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 30, 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 1,001,1 6 5 39,1 4 6 349,9 2 9 42,1 1 9 39,6 3 5 80,3 5 7 109,9 9 1 86,2 3 2 32,9 6 5 19,2 3 1 33,2 6 8 56,8 1 0 111,484 Less: notes held by F.R. Banks 226,8 8 3 6,6 2 5 70,2 8 8 9,0 2 1 9,2 9 0 14,9 8 6 36,5 1 3 14,5 8 4 4,5 0 5 3,1 8 6 3,7 2 8 25,4 6 6 28,692 Federal Reserve notes, net 774,2 8 2 32,5 2 1 279,6 4 1 33,0 9 8 30,3 4 4 65,3 7 1 73,4 7 8 71,6 4 8 28,4 6 0 16,0 4 6 29,5 4 0 31,3 4 4 82,792 Reverse repurchase agreements1 39,4 8 5 1,8 2 0 14,2 9 7 1,7 4 7 1,6 1 6 3,4 2 1 3,6 6 2 3,3 1 2 1,2 6 2 7 8 8 1,2 7 8 1,7 3 5 4,547 Deposits 43,9 9 8 1,3 1 5 26,3 3 8 4 9 7 1,4 3 8 3,4 9 5 2,1 5 0 2,5 0 5 3 1 8 2,2 0 0 6 3 0 8 4 8 2,265 Depository institutions 38,4 9 7 1,2 8 0 21,0 1 7 4 9 3 1,4 3 4 3,3 8 4 2,1 4 7 2,5 0 2 3 0 7 2,1 9 9 6 2 8 8 4 5 2,262 U.S. Treasury, general account 5,0 8 2 0 5,0 8 2 0 0 0 0 0 0 0 0 0 0 Foreign official 9 9 1 6 9 5 3 1 1 3 2 0 1 0 1 3 Other 3 2 0 3 4 1 7 1 0 1 1 0 0 0 0 1 0 0 1 2 0 Deferred availability cash items 3,3 9 3 1 8 5 7 3 4 2 0 5 3 6 3 0 4 2 9 6 2 7 8 5 6 3 1 5 2 0 2 1 9 5 533 Other liabilities and accrued dividends2 4,5 4 6 2 0 4 1,5 1 6 2 0 7 2 1 8 5 3 0 4 0 2 3 7 7 1 7 6 1 1 7 1 6 1 2 1 6 422 Total liabilities 865,7 0 4 36,0 4 5 321,8 6 6 35,9 7 0 34,1 5 2 73,1 2 0 79,9 8 8 78,1 2 0 30,2 7 2 19,4 6 5 31,8 1 1 34,3 3 8 90,559 Capital Capital paid in 18,4 7 2 1,0 4 9 4,6 1 9 1,8 1 4 1,2 9 4 4,9 9 7 1,4 4 8 8 1 6 1 8 0 3 5 5 1 9 6 3 6 4 1,339 Surplus 18,4 8 0 1,0 7 9 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 9 4 5 6 4 0 2 4 2 3 6 8 1 1 1 0 7 0 1 8 2 5 2 6 4 0 88 Total liabilities and capital 903,6 0 1 38,1 8 0 331,5 0 5 39,6 4 0 36,7 7 3 83,1 9 3 82,9 7 1 79,8 2 1 30,6 5 0 20,1 9 9 32,2 2 7 35,1 0 5 93,336 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 30, 2008 Federal Reserve notes outstanding 1,001,165 Less: Notes held by F.R. Banks not subject to collateralization 226,883 Federal Reserve notes to be collateralized 774,282 Collateral held against Federal Reserve notes 774,282 Gold certificate account 11,037 Special drawing rights certificate account 2,200 U.S. Treasury and agency securities pledged1 728,856 Other assets pledged 32,189 Memo: Total U.S. Treasury and agency securities1 768,371 Less: face value of securities under reverse repurchase agreements 39,515 U.S. Treasury and agency securities eligible to be pledged 728,856 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.