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 February 21, 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 Feb 20, 2008 Feb 13, 2008 Feb 21, 2007 Feb 20, 2008 Reserve Bank credit 866,859 + 8,524 + 15,145 862,797 Securities held outright 713,364 - 8 - 65,534 713,362 U.S. Treasury1 713,364 - 8 - 65,534 713,362 Bills2 200,360 0 - 76,659 200,360 Notes and bonds, nominal2 470,010 0 + 3,335 470,010 Notes and bonds, inflation-indexed2 38,437 0 + 6,661 38,437 Inflation compensation3 4,558 - 7 + 1,130 4,556 Federal agency2 0 0 0 0 Repurchase agreements4 43,536 + 25,179 + 8,357 38,750 Term auction credit 60,000 0 + 60,000 60,000 Other loans to depository institutions 223 + 165 + 197 1,371 Primary credit 220 + 163 + 215 1,368 Secondary credit 0 0 0 0 Seasonal credit 3 + 2 - 18 3 Float -1,291 - 264 - 1,080 -1,266 Other Federal Reserve assets 51,026 - 16,549 + 13,204 50,579 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 + 487 38,779 Total factors supplying reserve funds 918,879 + 8,538 + 15,632 914,817 Currency in circulation5 817,160 + 3,301 + 9,360 817,666 Reverse repurchase agreements6 37,977 + 1,571 + 261 38,610 Foreign official and international accounts 37,977 + 1,571 + 261 38,610 Dealers 0 0 0 0 Treasury cash holdings 269 - 6 + 59 262 Deposits with F.R. Banks, other than reserve balances 11,017 - 1,521 - 1,019 11,674 U.S. Treasury, general account 3,861 - 1,455 - 1,079 4,525 Foreign official 98 + 1 + 7 101 Service-related 6,748 - 64 + 10 6,748 Required clearing balances 6,748 - 64 + 10 6,748 Adjustments to compensate for float 0 0 0 0 Other 310 - 3 + 43 299 Other liabilities and capital 42,407 + 879 + 4,775 42,916 Total factors, other than reserve balances, absorbing reserve funds 908,829 + 4,224 + 13,436 911,127 Reserve balances with Federal Reserve Banks 10,050 + 4,315 + 2,196 3,690 Memo (off-balance-sheet items): Marketable securities held in custody for foreign official and international accounts2,7 2,130,220 + 17,312 + 303,639 2,135,053 U.S. Treasury 1,264,063 - 2,617 + 71,285 1,266,381 Federal agency 866,158 + 19,929 + 232,356 868,672 Securities lent to dealers 16,019 + 6,269 + 13,565 16,035 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 Feb 20, 2008 Feb 13, 2008 Feb 21, 2007 Assets Gold certificate account 11,037 0 0 Special drawing rights certificate account 2,200 0 0 Coin 1,359 - 21 + 358 Securities, repurchase agreements, term auction credit, and other loans 813,484 + 12,076 + 540 Securities held outright 713,362 - 7 - 65,540 U.S. Treasury1 713,362 - 7 - 65,540 Bills2 200,360 0 - 76,659 Notes and bonds, nominal2 470,010 0 + 3,335 Notes and bonds, inflation-indexed2 38,437 0 + 6,661 Inflation compensation3 4,556 - 7 + 1,124 Federal agency2 0 0 0 Repurchase agreements4 38,750 + 10,750 + 4,750 Term auction credit 60,000 0 + 60,000 Other loans 1,371 + 1,332 + 1,330 Items in process of collection (1,098) 2,914 + 1,538 - 5,168 Bank premises 2,134 + 2 + 174 Other assets5 48,330 - 17,234 + 12,498 Total assets (1,098) 881,457 - 3,640 + 8,401 Liabilities Federal Reserve notes, net of F.R. Bank holdings 780,503 + 1,566 + 9,265 Reverse repurchase agreements6 38,610 + 20 + 466 Deposits (0) 15,249 - 8,155 - 5,125 Depository institutions 10,323 - 7,701 - 4,399 U.S. Treasury, general account 4,525 - 454 - 779 Foreign official 101 + 5 + 10 Other (0) 299 - 6 + 42 Deferred availability cash items (1,098) 4,180 + 1,372 - 1,730 Other liabilities and accrued dividends7 4,394 + 419 - 1,251 Total liabilities (1,098) 842,935 - 4,779 + 1,626 Capital accounts Capital paid in 19,353 + 867 + 3,494 Surplus 18,457 + 9 + 3,233 Other capital accounts 713 + 264 + 49 Total capital 38,522 + 1,139 + 6,775 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, February 20, 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 30,000 1,368 48,171 - 5,317 38,750 38,610 16 days to 90 days 30,000 4 114,849 + 8,965 0 0 91 days to 1 year . . . 0 135,884 - 10,735 . . . . . . Over 1 year to 5 years . . . . . . 231,343 - 1,744 . . . . . . Over 5 years to 10 years . . . . . . 88,939 + 4,533 . . . . . . Over 10 years . . . . . . 94,177 + 4,293 . . . . . . All 60,000 1,371 713,362 - 7 38,750 38,610 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 February 20, 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 1,359 46 63 107 127 158 170 154 56 56 82 147 192 Securities, repurchase agreements, term auction credit, and other loans 813,484 36,779 317,350 33,274 30,965 66,158 74,954 63,685 24,618 15,472 24,548 34,295 91,387 Securities held outright 713,362 32,876 258,306 31,559 29,193 61,807 66,163 59,835 22,800 14,233 23,092 31,343 82,155 U.S. Treasury1 713,362 32,876 258,306 31,559 29,193 61,807 66,163 59,835 22,800 14,233 23,092 31,343 82,155 Bills2 200,360 9,234 72,550 8,864 8,199 17,360 18,583 16,806 6,404 3,998 6,486 8,803 23,075 Notes and bonds3 513,002 23,642 185,757 22,695 20,994 44,448 47,580 43,029 16,396 10,236 16,606 22,540 59,080 Federal agency2 0 0 0 0 0 0 0 0 0 0 0 0 0 Repurchase agreements4 38,750 1,786 14,031 1,714 1,586 3,357 3,594 3,250 1,238 773 1,254 1,703 4,463 Term auction credit 60,000 1,510 44,872 0 10 813 5,195 370 580 466 200 1,250 4,734 Other loans 1,371 607 140 0 176 180 2 230 0 0 1 0 35 Items in process of collection 4,012 145 106 273 509 224 434 391 94 204 524 240 869 Bank premises 2,134 119 214 65 152 185 230 204 114 112 274 256 209 Other assets5 48,330 2,531 14,422 3,890 2,940 10,334 3,838 2,584 795 932 814 1,271 3,978 Interdistrict settlement account 0 - 2,225 -25,382 + 2,402 + 1,549 + 3,944 + 1,835 +10,808 + 4,898 + 1,253 + 5,885 - 979 - 3,988 Total assets 882,555 37,959 311,700 40,548 36,774 82,019 82,742 78,941 30,972 18,264 32,528 35,941 94,168 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 February 20, 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 997,9 4 7 39,3 2 5 346,5 9 1 42,2 3 2 39,7 7 1 80,3 1 5 110,5 4 5 86,2 8 6 32,8 8 7 19,1 7 5 33,1 9 1 56,6 7 1 110,958 Less: notes held by F.R. Banks 217,4 4 4 6,1 8 8 66,8 3 4 8,5 7 1 8,6 3 1 14,3 9 1 36,2 5 0 14,4 2 1 4,2 3 9 3,0 8 3 3,3 1 9 24,3 9 4 27,122 Federal Reserve notes, net 780,5 0 3 33,1 3 7 279,7 5 7 33,6 6 1 31,1 4 1 65,9 2 4 74,2 9 5 71,8 6 5 28,6 4 8 16,0 9 2 29,8 7 2 32,2 7 7 83,836 Reverse repurchase agreements1 38,6 1 0 1,7 7 9 13,9 8 1 1,7 0 8 1,5 8 0 3,3 4 5 3,5 8 1 3,2 3 8 1,2 3 4 7 7 0 1,2 5 0 1,6 9 6 4,447 Deposits 15,2 4 9 4 4 0 6,6 7 4 4 9 6 4 2 5 1,6 5 8 1,0 2 4 8 6 4 3 7 8 2 4 6 4 1 1 6 6 1 1,971 Depository institutions 10,3 2 3 3 9 9 1,9 0 8 4 9 2 4 2 1 1,5 7 5 1,0 2 0 8 6 1 3 6 5 2 4 5 4 0 9 6 6 1 1,968 U.S. Treasury, general account 4,5 2 5 0 4,5 2 5 0 0 0 0 0 0 0 0 0 0 Foreign official 1 0 1 2 7 1 4 3 1 1 3 2 0 1 0 1 3 Other 2 9 9 3 8 1 7 1 0 2 7 2 0 1 1 3 0 1 0 0 Deferred availability cash items 5,2 7 8 2 3 8 1 0 8 8 0 6 7 7 1 4 9 9 4 4 9 4 7 1 1 4 9 3 0 7 4 2 5 3 3 9 718 Other liabilities and accrued dividends2 4,3 9 4 2 0 6 1,2 8 4 2 1 1 2 2 1 5 4 6 4 3 8 3 7 7 1 8 0 1 2 5 1 6 3 2 1 6 426 Total liabilities 844,0 3 3 35,8 0 0 301,8 0 4 36,8 8 2 34,1 3 8 71,9 7 2 79,7 8 7 76,8 1 6 30,5 8 9 17,5 4 0 32,1 2 0 35,1 9 0 91,398 Capital Capital paid in 19,3 5 3 1,0 7 7 5,0 0 7 1,8 1 7 1,3 1 1 4,9 9 7 1,4 4 7 1,2 5 6 1 8 2 3 5 7 1 9 6 3 6 1 1,345 Surplus 18,4 5 7 1,0 4 9 4,6 2 4 1,8 1 3 1,2 9 1 4,9 9 6 1,4 2 5 8 1 5 1 8 0 3 5 5 1 9 4 3 6 4 1,350 Other capital 7 1 3 3 3 2 6 5 3 5 3 4 5 4 8 4 5 5 2 1 1 2 1 9 2 7 75 Total liabilities and capital 882,5 5 5 37,9 5 9 311,7 0 0 40,5 4 8 36,7 7 4 82,0 1 9 82,7 4 2 78,9 4 1 30,9 7 2 18,2 6 4 32,5 2 8 35,9 4 1 94,168 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 Feb 20, 2008 Federal Reserve notes outstanding 997,947 Less: Notes held by F.R. Banks not subject to collateralization 217,444 Federal Reserve notes to be collateralized 780,503 Collateral held against Federal Reserve notes 780,503 Gold certificate account 11,037 Special drawing rights certificate account 2,200 U.S. Treasury and agency securities pledged1 713,467 Other assets pledged 53,799 Memo: Total U.S. Treasury and agency securities1 752,112 Less: face value of securities under reverse repurchase agreements 38,646 U.S. Treasury and agency securities eligible to be pledged 713,467 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.