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 March 6, 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 Mar 5, 2008 Feb 27, 2008 Mar 7, 2007 Mar 5, 2008 Reserve Bank credit 873,313 + 6,713 + 21,602 865,980 Securities held outright 713,365 + 7 - 67,444 713,388 U.S. Treasury1 713,365 + 7 - 67,444 713,388 Bills2 200,360 0 - 76,659 200,360 Notes and bonds, nominal2 470,010 0 + 1,457 470,010 Notes and bonds, inflation-indexed2 38,437 0 + 6,661 38,437 Inflation compensation3 4,559 + 8 + 1,098 4,581 Federal agency2 0 0 0 0 Repurchase agreements4 59,357 + 16,500 + 26,000 52,250 Term auction credit 60,000 0 + 60,000 60,000 Other loans to depository institutions 358 + 185 + 326 37 Primary credit 355 + 186 + 347 34 Secondary credit 0 0 0 0 Seasonal credit 3 - 2 - 21 3 Float -1,374 - 262 - 655 -1,545 Other Federal Reserve assets 41,607 - 9,716 + 3,374 41,850 Gold stock 11,041 0 0 11,041 Special drawing rights certificate account 2,200 0 0 2,200 Treasury currency outstanding5 38,736 + 14 + 418 38,736 Total factors supplying reserve funds 925,290 + 6,727 + 22,020 917,957 Currency in circulation5 815,956 + 550 + 9,077 817,899 Reverse repurchase agreements6 43,138 + 3,605 + 4,509 40,812 Foreign official and international accounts 43,138 + 3,605 + 4,509 40,812 Dealers 0 0 0 0 Treasury cash holdings 260 - 1 + 55 260 Deposits with F.R. Banks, other than reserve balances 11,985 + 115 + 206 11,917 U.S. Treasury, general account 4,867 + 127 + 142 4,794 Foreign official 97 - 1 + 5 98 Service-related 6,750 0 + 60 6,750 Required clearing balances 6,750 0 + 60 6,750 Adjustments to compensate for float 0 0 0 0 Other 271 - 12 0 275 Other liabilities and capital 44,396 + 662 + 5,741 43,965 Total factors, other than reserve balances, absorbing reserve funds 915,735 + 4,931 + 19,588 914,852 Reserve balances with Federal Reserve Banks 9,556 + 1,797 + 2,433 3,104 Memo (off-balance-sheet items): Marketable securities held in custody for foreign official and international accounts2,7 2,150,012 + 8,556 + 301,608 2,144,806 U.S. Treasury 1,280,627 + 10,344 + 70,757 1,276,650 Federal agency 869,385 - 1,788 + 230,851 868,156 Securities lent to dealers 19,020 + 4,561 + 16,815 16,300 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 Mar 5, 2008 Feb 27, 2008 Mar 7, 2007 Assets Gold certificate account 11,037 0 0 Special drawing rights certificate account 2,200 0 0 Coin 1,351 - 1 + 374 Securities, repurchase agreements, term auction credit, and other loans 825,675 - 2,867 + 13,564 Securities held outright 713,388 + 33 - 67,430 U.S. Treasury1 713,388 + 33 - 67,430 Bills2 200,360 0 - 76,659 Notes and bonds, nominal2 470,010 0 + 1,457 Notes and bonds, inflation-indexed2 38,437 0 + 6,661 Inflation compensation3 4,581 + 32 + 1,111 Federal agency2 0 0 0 Repurchase agreements4 52,250 - 2,250 + 21,000 Term auction credit 60,000 0 + 60,000 Other loans 37 - 650 - 6 Items in process of collection (615) 1,715 + 150 - 1,867 Bank premises 2,140 + 2 + 171 Other assets5 39,584 - 10,182 + 3,083 Total assets (615) 883,702 - 12,897 + 15,326 Liabilities Federal Reserve notes, net of F.R. Bank holdings 780,769 + 1,317 + 9,914 Reverse repurchase agreements6 40,812 - 1,836 + 3,024 Deposits (0) 14,895 - 12,700 - 1,910 Depository institutions 9,729 - 12,394 - 2,281 U.S. Treasury, general account 4,794 - 309 + 345 Foreign official 98 - 1 + 2 Other (0) 275 + 5 + 25 Deferred availability cash items (615) 3,260 + 486 - 1,362 Other liabilities and accrued dividends7 4,415 - 301 - 1,386 Total liabilities (615) 844,151 - 13,034 + 8,281 Capital accounts Capital paid in 19,461 + 66 + 3,501 Surplus 18,458 + 1 + 3,142 Other capital accounts 1,632 + 70 + 402 Total capital 39,551 + 137 + 7,045 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, March 5, 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 34 38,873 - 9,048 52,250 40,812 16 days to 90 days 30,000 3 126,745 + 9,926 0 0 91 days to 1 year . . . 0 133,639 - 524 . . . . . . Over 1 year to 5 years . . . . . . 231,000 - 341 . . . . . . Over 5 years to 10 years . . . . . . 88,945 + 7 . . . . . . Over 10 years . . . . . . 94,187 + 13 . . . . . . All 60,000 37 713,388 + 33 52,250 40,812 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 March 5, 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 1,351 44 63 110 128 155 163 155 58 56 83 142 194 Securities, repurchase agreements, term auction credit, and other loans 825,675 36,295 318,912 33,872 31,838 67,055 74,221 66,940 25,552 18,334 24,784 34,890 92,981 Securities held outright 713,388 32,877 258,316 31,561 29,194 61,809 66,165 59,837 22,801 14,234 23,093 31,344 82,158 U.S. Treasury1 713,388 32,877 258,316 31,561 29,194 61,809 66,165 59,837 22,801 14,234 23,093 31,344 82,158 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 513,028 23,643 185,766 22,697 20,995 44,450 47,582 43,031 16,397 10,236 16,607 22,541 59,083 Federal agency2 0 0 0 0 0 0 0 0 0 0 0 0 0 Repurchase agreements4 52,250 2,408 18,920 2,312 2,138 4,527 4,846 4,383 1,670 1,043 1,691 2,296 6,017 Term auction credit 60,000 1,010 41,677 0 500 708 3,210 2,720 1,080 3,057 0 1,250 4,788 Other loans 37 0 0 0 6 10 0 1 2 1 0 0 18 Items in process of collection 2,330 75 31 156 434 174 146 198 91 150 215 164 495 Bank premises 2,140 119 214 65 152 186 229 207 118 112 276 255 208 Other assets5 39,584 2,027 12,235 3,016 2,321 7,915 3,191 2,209 721 766 729 1,105 3,348 Interdistrict settlement account 0 - 1,492 -21,032 + 2,234 + 1,383 + 4,487 + 7,018 + 7,120 + 3,525 - 1,520 + 5,584 - 1,505 - 5,803 Total assets 884,316 37,631 315,351 39,990 36,788 80,988 86,252 77,944 30,462 18,131 32,074 35,762 92,944 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 March 5, 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 994,2 6 8 39,1 4 5 345,4 0 8 41,8 5 6 39,5 5 7 79,4 4 6 112,9 0 2 85,4 3 3 32,4 6 8 18,8 8 5 32,6 6 0 56,4 4 1 110,068 Less: notes held by F.R. Banks 213,4 9 9 6,3 5 2 63,4 3 9 8,5 5 6 8,5 1 2 14,7 1 0 35,2 1 2 14,6 3 3 4,2 9 3 2,9 7 8 3,1 8 4 24,4 4 1 27,189 Federal Reserve notes, net 780,7 6 9 32,7 9 3 281,9 6 9 33,3 0 0 31,0 4 5 64,7 3 5 77,6 9 1 70,8 0 0 28,1 7 5 15,9 0 7 29,4 7 6 32,0 0 0 82,879 Reverse repurchase agreements1 40,8 1 2 1,8 8 1 14,7 7 8 1,8 0 6 1,6 7 0 3,5 3 6 3,7 8 5 3,4 2 3 1,3 0 4 8 1 4 1,3 2 1 1,7 9 3 4,700 Deposits 14,8 9 5 3 6 6 7,0 7 9 3 8 0 6 4 2 1,4 1 4 1,0 3 1 7 3 6 3 3 0 2 4 9 4 1 9 7 8 8 1,463 Depository institutions 9,7 2 9 3 5 3 2,0 5 5 3 7 5 6 3 9 1,3 1 6 1,0 2 8 7 3 4 3 1 6 2 4 8 4 1 7 7 8 7 1,460 U.S. Treasury, general account 4,7 9 4 0 4,7 9 4 0 0 0 0 0 0 0 0 0 0 Foreign official 9 8 2 6 8 4 3 1 1 3 2 0 1 0 1 3 Other 2 7 5 1 1 1 6 2 0 0 8 7 0 0 1 3 0 1 0 0 Deferred availability cash items 3,8 7 5 1 8 6 6 8 6 0 5 5 5 0 3 0 9 2 9 7 3 4 7 7 6 3 0 7 2 8 2 2 1 3 635 Other liabilities and accrued dividends2 4,4 1 5 2 0 6 1,3 4 4 2 1 2 2 2 1 5 1 4 4 4 7 3 7 2 1 8 8 1 2 0 1 5 9 2 1 3 418 Total liabilities 844,7 6 5 35,4 3 2 305,2 3 8 36,3 0 3 34,1 2 7 70,5 0 8 83,2 5 1 75,6 7 8 30,0 7 3 17,3 9 7 31,6 5 7 35,0 0 6 90,095 Capital Capital paid in 19,4 6 1 1,0 7 7 4,8 9 7 1,8 1 7 1,3 1 0 5,1 7 5 1,4 5 5 1,2 5 6 1 8 2 3 5 7 1 9 5 3 6 1 1,379 Surplus 18,4 5 8 1,0 4 9 4,6 2 4 1,8 1 3 1,2 9 1 4,9 9 7 1,4 2 6 8 1 5 1 8 0 3 5 5 1 9 4 3 6 4 1,350 Other capital 1,6 3 2 7 3 5 9 1 5 7 6 0 3 0 8 1 2 1 1 9 5 2 7 2 2 2 8 3 1 120 Total liabilities and capital 884,3 1 6 37,6 3 1 315,3 5 1 39,9 9 0 36,7 8 8 80,9 8 8 86,2 5 2 77,9 4 4 30,4 6 2 18,1 3 1 32,0 7 4 35,7 6 2 92,944 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 Mar 5, 2008 Federal Reserve notes outstanding 994,268 Less: Notes held by F.R. Banks not subject to collateralization 213,499 Federal Reserve notes to be collateralized 780,769 Collateral held against Federal Reserve notes 780,769 Gold certificate account 11,037 Special drawing rights certificate account 2,200 U.S. Treasury and agency securities pledged1 724,785 Other assets pledged 42,747 Memo: Total U.S. Treasury and agency securities1 765,638 Less: face value of securities under reverse repurchase agreements 40,853 U.S. Treasury and agency securities eligible to be pledged 724,785 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.