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 13, 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 12, 2008 Mar 5, 2008 Mar 14, 2007 Mar 12, 2008 Reserve Bank credit 869,162 - 4,151 + 17,583 881,658 Securities held outright 709,133 - 4,232 - 71,700 703,436 U.S. Treasury1 709,133 - 4,232 - 71,700 703,436 Bills2 196,074 - 4,286 - 80,945 190,360 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 4,612 + 53 + 1,127 4,629 Federal agency2 0 0 0 0 Repurchase agreements4 58,714 - 643 + 25,928 77,000 Term auction credit 60,000 0 + 60,000 60,000 Other loans to depository institutions 103 - 255 + 50 27 Primary credit 99 - 256 + 94 23 Secondary credit 0 0 - 21 0 Seasonal credit 3 0 - 25 5 Float -1,160 + 214 - 433 -1,510 Other Federal Reserve assets 42,373 + 766 + 3,739 42,704 Gold stock 11,041 0 0 11,041 Special drawing rights certificate account 2,200 0 0 2,200 Treasury currency outstanding5 38,750 + 14 + 419 38,750 Total factors supplying reserve funds 921,154 - 4,136 + 18,003 933,649 Currency in circulation5 816,924 + 968 + 10,218 818,415 Reverse repurchase agreements6 40,021 - 3,117 + 2,683 40,197 Foreign official and international accounts 40,021 - 3,117 + 2,683 40,197 Dealers 0 0 0 0 Treasury cash holdings 261 + 1 + 42 270 Deposits with F.R. Banks, other than reserve balances 12,229 + 244 + 109 12,356 U.S. Treasury, general account 5,076 + 209 + 38 5,249 Foreign official 98 + 1 - 18 96 Service-related 6,750 0 + 61 6,750 Required clearing balances 6,750 0 + 61 6,750 Adjustments to compensate for float 0 0 0 0 Other 306 + 35 + 28 260 Other liabilities and capital 44,443 + 47 + 5,737 44,030 Total factors, other than reserve balances, absorbing reserve funds 913,879 - 1,856 + 18,789 915,267 Reserve balances with Federal Reserve Banks 7,274 - 2,282 - 788 18,382 Memo (off-balance-sheet items): Marketable securities held in custody for foreign official and international accounts2,7 2,151,216 + 1,204 + 291,443 2,162,203 U.S. Treasury 1,277,697 - 2,930 + 63,967 1,282,820 Federal agency 873,519 + 4,134 + 227,476 879,383 Securities lent to dealers 11,639 - 7,381 + 9,366 11,705 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 12, 2008 Mar 5, 2008 Mar 14, 2007 Assets Gold certificate account 11,037 0 0 Special drawing rights certificate account 2,200 0 0 Coin 1,324 - 27 + 372 Securities, repurchase agreements, term auction credit, and other loans 840,464 + 14,789 + 16,595 Securities held outright 703,436 - 9,952 - 77,406 U.S. Treasury1 703,436 - 9,952 - 77,406 Bills2 190,360 - 10,000 - 86,659 Notes and bonds, nominal2 470,010 0 + 1,457 Notes and bonds, inflation-indexed2 38,437 0 + 6,661 Inflation compensation3 4,629 + 48 + 1,135 Federal agency2 0 0 0 Repurchase agreements4 77,000 + 24,750 + 34,000 Term auction credit 60,000 0 + 60,000 Other loans 27 - 10 0 Items in process of collection (525) 1,354 - 361 - 1,636 Bank premises 2,138 - 2 + 169 Other assets5 40,441 + 857 + 3,472 Total assets (525) 898,956 + 15,254 + 18,970 Liabilities Federal Reserve notes, net of F.R. Bank holdings 781,254 + 485 + 10,509 Reverse repurchase agreements6 40,197 - 615 + 470 Deposits (0) 30,612 + 15,717 + 3,424 Depository institutions 25,006 + 15,277 + 3,260 U.S. Treasury, general account 5,249 + 455 + 136 Foreign official 96 - 2 + 6 Other (0) 260 - 15 + 20 Deferred availability cash items (525) 2,864 - 396 - 1,092 Other liabilities and accrued dividends7 4,365 - 50 - 1,439 Total liabilities (525) 859,292 + 15,141 + 11,872 Capital accounts Capital paid in 19,474 + 13 + 3,651 Surplus 18,458 0 + 3,119 Other capital accounts 1,733 + 101 + 329 Total capital 39,665 + 114 + 7,099 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 12, 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 60,000 23 34,413 - 4,460 47,000 40,197 16 days to 90 days 0 5 122,887 - 3,858 30,000 0 91 days to 1 year . . . 0 131,959 - 1,680 . . . . . . Over 1 year to 5 years . . . . . . 231,014 + 14 . . . . . . Over 5 years to 10 years . . . . . . 88,956 + 11 . . . . . . Over 10 years . . . . . . 94,207 + 20 . . . . . . All 60,000 27 703,436 - 9,952 77,000 40,197 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 12, 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 1,324 43 66 109 123 153 158 154 56 58 82 137 186 Securities, repurchase agreements, term auction credit, and other loans 840,464 36,977 324,274 34,527 32,438 68,327 75,594 68,182 26,024 18,632 25,264 35,540 94,686 Securities held outright 703,436 32,418 254,712 31,120 28,787 60,947 65,242 59,002 22,482 14,035 22,771 30,907 81,012 U.S. Treasury1 703,436 32,418 254,712 31,120 28,787 60,947 65,242 59,002 22,482 14,035 22,771 30,907 81,012 Bills2 190,360 8,773 68,929 8,422 7,790 16,493 17,655 15,967 6,084 3,798 6,162 8,364 21,923 Notes and bonds3 513,076 23,646 185,783 22,699 20,997 44,454 47,587 43,035 16,398 10,237 16,609 22,543 59,089 Federal agency2 0 0 0 0 0 0 0 0 0 0 0 0 0 Repurchase agreements4 77,000 3,549 27,881 3,407 3,151 6,671 7,142 6,459 2,461 1,536 2,493 3,383 8,868 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 27 0 3 0 0 0 0 2 0 3 1 0 18 Items in process of collection 1,878 64 20 209 262 47 179 193 82 138 252 122 309 Bank premises 2,138 119 214 65 152 186 229 204 118 112 276 255 208 Other assets5 40,441 2,062 12,494 3,179 2,345 8,048 3,270 2,262 712 774 741 1,129 3,426 Interdistrict settlement account 0 - 784 -17,460 + 1,986 + 2,099 + 3,746 + 6,754 + 6,579 + 2,956 - 1,477 + 4,966 - 2,078 - 7,287 Total assets 899,481 39,045 324,535 40,611 37,950 81,523 87,468 78,689 30,345 18,470 31,981 35,816 93,047 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 12, 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 993,5 6 6 39,1 5 4 344,0 2 5 41,7 9 7 39,5 8 3 79,4 9 6 113,5 7 9 85,4 9 2 32,4 2 3 18,8 7 0 32,7 5 8 56,4 0 4 109,983 Less: notes held by F.R. Banks 212,3 1 2 6,2 9 5 62,2 6 2 8,5 4 5 8,4 5 3 14,6 3 9 35,0 0 6 14,6 2 6 4,3 7 5 2,9 0 3 3,2 9 1 24,7 1 5 27,202 Federal Reserve notes, net 781,2 5 4 32,8 5 9 281,7 6 3 33,2 5 2 31,1 3 0 64,8 5 6 78,5 7 3 70,8 6 6 28,0 4 9 15,9 6 7 29,4 6 8 31,6 8 9 82,782 Reverse repurchase agreements1 40,1 9 7 1,8 5 2 14,5 5 5 1,7 7 8 1,6 4 5 3,4 8 3 3,7 2 8 3,3 7 2 1,2 8 5 8 0 2 1,3 0 1 1,7 6 6 4,629 Deposits 30,6 1 2 1,7 5 9 16,7 0 4 1,1 5 2 1,7 3 9 1,9 0 0 1,4 8 6 1,4 6 2 3 8 8 5 6 7 4 1 2 1,1 5 7 1,888 Depository institutions 25,0 0 6 1,7 4 5 11,2 1 1 1,1 4 3 1,7 3 5 1,8 3 8 1,4 8 2 1,4 6 0 3 7 4 5 6 7 4 1 1 1,1 5 6 1,885 U.S. Treasury, general account 5,2 4 9 0 5,2 4 9 0 0 0 0 0 0 0 0 0 0 Foreign official 9 6 2 6 6 4 3 1 1 3 2 0 1 0 1 3 Other 2 6 0 1 3 1 7 7 4 1 5 1 0 0 1 3 0 1 0 0 Deferred availability cash items 3,3 8 8 1 6 8 5 4 5 2 7 5 4 6 2 5 9 2 7 7 2 8 6 6 0 2 7 6 2 2 7 2 3 3 476 Other liabilities and accrued dividends2 4,3 6 5 2 0 3 1,3 5 6 2 1 2 2 1 8 5 1 2 4 1 3 3 6 8 1 7 7 1 2 3 1 6 0 2 1 2 413 Total liabilities 859,8 1 6 36,8 4 2 314,4 3 1 36,9 2 0 35,2 7 8 71,0 1 0 84,4 7 6 76,3 5 4 29,9 5 8 17,7 3 5 31,5 6 8 35,0 5 6 90,188 Capital Capital paid in 19,4 7 4 1,0 7 6 4,8 9 7 1,8 1 3 1,3 1 0 5,1 8 8 1,4 5 5 1,2 5 7 1 8 2 3 5 7 1 9 8 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 1,7 3 3 7 8 5 8 1 6 5 7 2 3 2 8 1 1 1 2 6 4 2 6 2 3 2 1 3 5 130 Total liabilities and capital 899,4 8 1 39,0 4 5 324,5 3 5 40,6 1 1 37,9 5 0 81,5 2 3 87,4 6 8 78,6 8 9 30,3 4 5 18,4 7 0 31,9 8 1 35,8 1 6 93,047 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 12, 2008 Federal Reserve notes outstanding 993,566 Less: Notes held by F.R. Banks not subject to collateralization 212,312 Federal Reserve notes to be collateralized 781,254 Collateral held against Federal Reserve notes 781,254 Gold certificate account 11,037 Special drawing rights certificate account 2,200 U.S. Treasury and agency securities pledged1 740,204 Other assets pledged 27,813 Memo: Total U.S. Treasury and agency securities1 780,436 Less: face value of securities under reverse repurchase agreements 40,232 U.S. Treasury and agency securities eligible to be pledged 740,204 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.