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 April 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 Apr 16, 2008 Apr 9, 2008 Apr 18, 2007 Apr 16, 2008 Reserve Bank credit 867,193 + 357 + 16,114 865,792 Securities held outright 548,622 - 12,195 - 234,222 548,632 U.S. Treasury1 548,622 - 12,195 - 234,222 548,632 Bills2 70,317 - 11,511 - 206,702 70,317 Notes and bonds, nominal2 435,051 - 714 - 35,348 435,051 Notes and bonds, inflation-indexed2 38,437 0 + 6,661 38,437 Inflation compensation3 4,817 + 30 + 1,167 4,827 Federal agency2 0 0 0 0 Repurchase agreements4 106,964 + 7,785 + 78,393 104,250 Term auction credit 100,000 0 + 100,000 100,000 Other loans 32,663 - 10,098 + 32,613 34,508 Primary credit 7,841 - 2,341 + 7,839 8,831 Secondary credit 0 0 0 0 Seasonal credit 18 + 1 - 30 22 Primary dealer credit facility 24,804 - 7,758 + 24,804 25,655 Other credit extensions 0 0 0 0 Float -1,438 - 752 - 524 -2,395 Other Federal Reserve assets 80,383 + 15,618 + 39,855 80,797 Gold stock 11,041 0 0 11,041 Special drawing rights certificate account 2,200 0 0 2,200 Treasury currency outstanding5 38,764 + 14 + 371 38,764 Total factors supplying reserve funds 919,198 + 371 + 16,485 917,797 Currency in circulation5 813,964 - 1,196 + 5,820 814,542 Reverse repurchase agreements6 40,047 + 1,130 + 6,884 40,659 Foreign official and international accounts 40,047 + 1,130 + 6,884 40,659 Dealers 0 0 0 0 Treasury cash holdings 357 + 3 + 41 356 Deposits with F.R. Banks, other than reserve balances 12,312 - 309 - 83 12,180 U.S. Treasury, general account 4,745 - 382 - 709 4,614 Foreign official 97 - 1 + 4 97 Service-related 7,154 + 109 + 600 7,154 Required clearing balances 7,154 + 109 + 600 7,154 Adjustments to compensate for float 0 0 0 0 Other 316 - 34 + 21 315 Other liabilities and capital 44,957 - 18 + 5,982 44,389 Total factors, other than reserve balances, absorbing reserve funds 911,637 - 389 + 18,643 912,126 Reserve balances with Federal Reserve Banks 7,561 + 761 - 2,158 5,670 Memo (off-balance-sheet items): Marketable securities held in custody for foreign official and international accounts2,7 2,240,303 + 21,746 + 324,295 2,251,725 U.S. Treasury 1,327,635 + 15,197 + 91,711 1,329,060 Federal agency 912,668 + 6,550 + 232,584 922,665 Securities lent to dealers 138,417 + 28,712 + 136,934 143,814 Overnight facility8 9,317 - 3,959 + 7,834 9,864 Term facility9 129,100 + 32,671 + 129,100 133,950 Note: Components may not sum to totals because of rounding. 1. Includes securities lent to dealers under the overnight and term securities lending facilities. 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. 8. Fully collateralized by other U.S. Treasury securities. 9. Fully collateralized by other U.S. Treasury securities, federal agency securities, and highly rated non-agency mortgage-backed securities. 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 Apr 16, 2008 Apr 9, 2008 Apr 18, 2007 Assets Gold certificate account 11,037 0 0 Special drawing rights certificate account 2,200 0 0 Coin 1,381 + 25 + 405 Securities, repurchase agreements, term auction credit, and other loans 787,390 - 26,563 - 19,522 Securities held outright 548,632 - 11,482 - 234,228 U.S. Treasury1 548,632 - 11,482 - 234,228 Bills2 70,317 - 11,511 - 206,702 Notes and bonds, nominal2 435,051 0 - 35,348 Notes and bonds, inflation-indexed2 38,437 0 + 6,661 Inflation compensation3 4,827 + 29 + 1,161 Federal agency2 0 0 0 Repurchase agreements4 104,250 - 15,750 + 80,250 Term auction credit 100,000 0 + 100,000 Other loans 34,508 + 670 + 34,456 Items in process of collection (522) 1,480 + 119 - 1,793 Bank premises 2,143 + 1 + 152 Other assets5 78,573 + 15,709 + 39,834 Total assets (522) 884,203 - 10,709 + 19,074 Liabilities Federal Reserve notes, net of F.R. Bank holdings 777,511 - 1,391 + 5,617 Reverse repurchase agreements6 40,659 + 1,880 + 6,688 Deposits (0) 17,769 - 11,840 + 1,568 Depository institutions 12,743 - 13,013 + 2,143 U.S. Treasury, general account 4,614 + 1,177 - 621 Foreign official 97 - 3 + 2 Other (0) 315 - 2 + 44 Deferred availability cash items (522) 3,875 + 857 - 592 Other liabilities and accrued dividends7 4,356 + 364 - 1,463 Total liabilities (522) 844,170 - 10,130 + 11,818 Capital accounts Capital paid in 19,585 + 34 + 3,729 Surplus 18,471 0 + 3,109 Other capital accounts 1,977 - 613 + 418 Total capital 40,033 - 579 + 7,257 Note: Components may not sum to totals because of rounding. 1. Includes securities lent to dealers under the overnight and term securities lending facilities; refer to table 1, footnotes 8 and 9. 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, April 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 50,000 28,151 24,625 - 1,717 64,250 40,659 16 days to 90 days 50,000 6,357 47,894 - 6,700 40,000 0 91 days to 1 year . . . 0 99,957 + 946 . . . . . . Over 1 year to 5 years . . . . . . 195,968 - 930 . . . . . . Over 5 years to 10 years . . . . . . 85,901 - 3,092 . . . . . . Over 10 years . . . . . . 94,287 + 12 . . . . . . All 100,000 34,508 548,632 - 11,482 104,250 40,659 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 April 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 1,381 46 67 104 134 162 150 165 53 64 91 155 191 Securities, repurchase agreements, term auction credit, and other loans 787,390 31,091 346,461 28,919 30,643 65,447 65,524 55,866 21,918 13,110 21,222 28,685 78,503 Securities held outright 548,632 25,284 198,658 24,272 22,452 47,535 50,884 46,018 17,535 10,946 17,760 24,105 63,184 U.S. Treasury1 548,632 25,284 198,658 24,272 22,452 47,535 50,884 46,018 17,535 10,946 17,760 24,105 63,184 Bills2 70,317 3,241 25,462 3,111 2,878 6,092 6,522 5,898 2,247 1,403 2,276 3,090 8,098 Notes and bonds3 478,315 22,044 173,196 21,161 19,574 41,442 44,363 40,120 15,287 9,543 15,483 21,016 55,086 Federal agency2 0 0 0 0 0 0 0 0 0 0 0 0 0 Repurchase agreements4 104,250 4,804 37,749 4,612 4,266 9,032 9,669 8,744 3,332 2,080 3,375 4,580 12,006 Term auction credit 100,000 1,000 78,321 0 3,925 7,155 4,969 725 1,049 80 80 0 2,697 Other loans 34,508 3 31,733 35 0 1,725 3 379 3 3 8 0 616 Items in process of collection 2,001 55 0 214 392 69 -7 146 58 163 300 146 466 Bank premises 2,143 119 213 65 152 190 228 205 119 112 277 255 208 Other assets5 78,573 4,235 22,163 6,816 5,007 18,262 6,184 3,979 1,109 1,509 1,163 1,898 6,247 Interdistrict settlement account 0 + 1,240 -56,882 + 3,500 + 331 - 4,009 +15,097 +16,631 + 6,047 + 2,835 + 8,076 + 2,729 + 4,404 Total assets 884,725 37,349 316,949 40,156 37,190 81,138 88,460 78,107 29,702 18,026 31,531 34,579 91,539 Note: Components may not sum to totals because of rounding. 1. Includes securities lent to dealers under the overnight and term securities lending facilities; refer to table 1, footnotes 8 and 9. 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 April 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 984,9 8 4 38,5 4 0 339,7 4 2 41,5 6 4 39,4 0 6 78,8 2 1 114,2 3 2 84,8 2 4 31,9 2 5 18,6 3 3 32,4 4 0 56,0 9 8 108,760 Less: notes held by F.R. Banks 207,4 7 2 6,0 0 3 58,8 5 2 8,0 3 8 8,2 4 4 14,2 5 8 34,5 3 1 14,2 9 9 4,4 7 1 2,7 8 4 3,6 0 0 25,0 6 2 27,330 Federal Reserve notes, net 777,5 1 1 32,5 3 8 280,8 9 0 33,5 2 6 31,1 6 1 64,5 6 4 79,7 0 0 70,5 2 4 27,4 5 4 15,8 4 9 28,8 4 0 31,0 3 6 81,430 Reverse repurchase agreements1 40,6 5 9 1,8 7 4 14,7 2 3 1,7 9 9 1,6 6 4 3,5 2 3 3,7 7 1 3,4 1 0 1,3 0 0 8 1 1 1,3 1 6 1,7 8 6 4,683 Deposits 17,7 6 9 3 7 5 9,4 1 9 4 5 8 4 1 6 1,8 1 6 1,0 6 1 9 6 2 3 5 1 2 6 2 3 6 9 6 3 9 1,640 Depository institutions 12,7 4 3 3 5 3 4,5 5 8 4 5 4 4 1 2 1,7 0 5 1,0 5 8 9 6 1 3 3 8 2 6 1 3 6 7 6 3 8 1,637 U.S. Treasury, general account 4,6 1 4 0 4,6 1 4 0 0 0 0 0 0 0 0 0 0 Foreign official 9 7 2 6 7 4 3 1 1 3 2 0 1 0 1 3 Other 3 1 5 2 0 1 7 9 1 1 1 0 0 0 0 1 3 0 1 0 0 Deferred availability cash items 4,3 9 6 1 8 3 0 4 9 2 1,0 6 0 3 1 1 2 8 9 3 4 1 6 7 3 1 0 4 6 3 2 9 7 585 Other liabilities and accrued dividends2 4,3 5 6 1 7 1 1,8 1 6 1 8 3 1 9 1 4 6 1 3 5 0 3 0 0 1 4 8 1 0 7 1 3 0 1 7 6 323 Total liabilities 844,6 9 2 35,1 4 0 306,8 4 8 36,4 5 7 34,4 9 2 70,6 7 4 85,1 7 1 75,5 3 8 29,3 2 0 17,3 3 9 31,1 1 8 33,9 3 4 88,660 Capital Capital paid in 19,5 8 5 1,0 8 7 4,9 0 3 1,8 3 8 1,3 3 7 5,1 7 4 1,6 1 1 1,2 5 9 1 8 2 3 1 5 1 9 9 2 5 6 1,424 Surplus 18,4 7 1 1,0 5 0 4,6 3 7 1,8 1 4 1,2 9 1 4,9 9 7 1,4 2 5 8 1 5 1 8 0 3 5 5 1 9 4 3 6 4 1,350 Other capital 1,9 7 7 7 3 5 6 2 4 7 7 0 2 9 2 2 5 2 4 9 4 2 0 1 8 2 0 2 5 105 Total liabilities and capital 884,7 2 5 37,3 4 9 316,9 4 9 40,1 5 6 37,1 9 0 81,1 3 8 88,4 6 0 78,1 0 7 29,7 0 2 18,0 2 6 31,5 3 1 34,5 7 9 91,539 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 Apr 16, 2008 Federal Reserve notes outstanding 984,984 Less: Notes held by F.R. Banks not subject to collateralization 207,472 Federal Reserve notes to be collateralized 777,511 Collateral held against Federal Reserve notes 777,511 Gold certificate account 11,037 Special drawing rights certificate account 2,200 U.S. Treasury and agency securities pledged1 612,170 Other assets pledged 152,104 Memo: Total U.S. Treasury and agency securities1 652,882 Less: face value of securities under reverse repurchase agreements 40,712 U.S. Treasury and agency securities eligible to be pledged 612,170 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.