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 June 12, 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 Jun 11, 2008 Jun 4, 2008 Jun 13, 2007 Jun 11, 2008 Reserve Bank credit 873,485 - 4,238 + 23,593 874,629 Securities held outright 482,050 - 4,859 - 308,309 482,073 U.S. Treasury1 482,050 - 4,859 - 308,309 482,073 Bills2 25,143 - 4,926 - 251,876 25,143 Notes and bonds, nominal2 412,392 0 - 62,280 412,392 Notes and bonds, inflation-indexed2 39,171 0 + 4,712 39,171 Inflation compensation3 5,345 + 68 + 1,136 5,368 Federal agency2 0 0 0 0 Repurchase agreements4 116,821 + 2,714 + 95,750 118,250 Term auction credit 150,000 0 + 150,000 150,000 Other loans 21,875 - 2,384 + 21,729 22,037 Primary credit 13,148 - 2,773 + 13,122 13,450 Secondary credit 224 + 224 + 224 0 Seasonal credit 67 - 10 - 53 67 Primary dealer credit facility 8,436 + 175 + 8,436 8,520 Other credit extensions 0 0 0 0 Float -1,399 - 153 - 574 -1,600 Other Federal Reserve assets 104,138 + 443 + 64,997 103,868 Gold stock 11,041 0 0 11,041 Special drawing rights certificate account 2,200 0 0 2,200 Treasury currency outstanding5 38,819 + 14 + 342 38,819 Total factors supplying reserve funds 925,545 - 4,224 + 23,935 926,688 Currency in circulation5 822,782 - 660 + 11,358 823,602 Reverse repurchase agreements6 40,114 + 1,120 + 7,799 39,755 Foreign official and international accounts 40,114 + 1,120 + 7,799 39,755 Dealers 0 0 0 0 Treasury cash holdings 273 - 7 - 23 280 Deposits with F.R. Banks, other than reserve balances 12,316 + 38 + 436 11,834 U.S. Treasury, general account 4,849 + 5 - 109 4,369 Foreign official 99 0 - 10 100 Service-related 7,096 + 25 + 513 7,096 Required clearing balances 7,096 + 25 + 513 7,096 Adjustments to compensate for float 0 0 0 0 Other 273 + 9 + 42 269 Other liabilities and capital 44,539 + 412 + 5,088 43,942 Total factors, other than reserve balances, absorbing reserve funds 920,024 + 903 + 24,657 919,412 Reserve balances with Federal Reserve Banks 5,521 - 5,126 - 722 7,277 Memo (off-balance-sheet items): Marketable securities held in custody for foreign official and international accounts2,7 2,304,142 + 2,739 + 348,823 2,307,941 U.S. Treasury 1,349,729 - 825 + 123,062 1,352,702 Federal agency 954,413 + 3,563 + 225,761 955,239 Securities lent to dealers 106,700 - 8,918 + 103,113 105,382 Overnight facility8 9,733 - 6,217 + 6,146 8,682 Term facility9 96,967 - 2,702 + 96,967 96,700 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 U.S. Treasury securities. 9. Fully collateralized by U.S. Treasury securities, federal agency securities, and highly rated non-agency asset-backed and 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 Jun 11, 2008 Jun 4, 2008 Jun 13, 2007 Assets Gold certificate account 11,037 0 0 Special drawing rights certificate account 2,200 0 0 Coin 1,339 + 14 + 425 Securities, repurchase agreements, term auction credit, and other loans 772,360 - 5,119 - 40,163 Securities held outright 482,073 - 4,864 - 308,307 U.S. Treasury1 482,073 - 4,864 - 308,307 Bills2 25,143 - 4,926 - 251,876 Notes and bonds, nominal2 412,392 0 - 62,280 Notes and bonds, inflation-indexed2 39,171 0 + 4,712 Inflation compensation3 5,368 + 63 + 1,137 Federal agency2 0 0 0 Repurchase agreements4 118,250 - 1,500 + 96,250 Term auction credit 150,000 0 + 150,000 Other loans 22,037 + 1,244 + 21,895 Items in process of collection (585) 1,136 - 723 - 1,560 Bank premises 2,149 - 3 + 121 Other assets5 101,716 + 728 + 64,364 Total assets (585) 891,937 - 5,103 + 23,188 Liabilities Federal Reserve notes, net of F.R. Bank holdings 786,398 - 705 + 11,428 Reverse repurchase agreements6 39,755 - 2,365 + 8,176 Deposits (0) 19,107 - 2,276 - 46 Depository institutions 14,369 - 1,381 + 279 U.S. Treasury, general account 4,369 - 909 - 373 Foreign official 100 + 2 + 5 Other (0) 269 + 13 + 43 Deferred availability cash items (585) 2,736 - 119 - 1,474 Other liabilities and accrued dividends7 3,579 + 250 - 2,467 Total liabilities (585) 851,574 - 5,215 + 15,616 Capital accounts Capital paid in 19,931 + 8 + 3,834 Surplus 18,486 0 + 3,115 Other capital accounts 1,946 + 104 + 623 Total capital 40,363 + 112 + 7,572 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, June 11, 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 75,000 9,906 3,403 - 3,416 78,250 39,755 16 days to 90 days 75,000 12,131 41,236 + 858 40,000 0 91 days to 1 year . . . 0 79,105 - 2,363 . . . . . . Over 1 year to 5 years . . . . . . 171,751 + 20 . . . . . . Over 5 years to 10 years . . . . . . 90,094 + 14 . . . . . . Over 10 years . . . . . . 96,485 + 26 . . . . . . All 150,000 22,037 482,073 - 4,864 118,250 39,755 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 June 11, 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 11,037 424 3,935 453 423 891 1,221 913 344 199 349 636 1,249 Special drawing rights certificate acct. 2,200 115 874 83 104 147 166 212 71 30 66 98 234 Coin 1,339 45 58 96 109 168 160 164 47 58 90 146 199 Securities, repurchase agreements, term auction credit, and other loans 772,360 26,680 332,005 28,461 25,245 65,071 65,624 57,465 22,955 13,222 22,752 27,660 85,219 Securities held outright 482,073 20,220 171,519 21,048 18,280 43,714 47,965 42,548 16,659 9,101 17,701 19,997 53,323 U.S. Treasury1 482,073 20,220 171,519 21,048 18,280 43,714 47,965 42,548 16,659 9,101 17,701 19,997 53,323 Bills2 25,143 1,055 8,946 1,098 953 2,280 2,502 2,219 869 475 923 1,043 2,781 Notes and bonds3 456,931 19,165 162,573 19,950 17,327 41,434 45,464 40,328 15,790 8,626 16,777 18,954 50,542 Federal agency2 0 0 0 0 0 0 0 0 0 0 0 0 0 Repurchase agreements4 118,250 4,960 42,073 5,163 4,484 10,723 11,766 10,437 4,086 2,232 4,342 4,905 13,080 Term auction credit 150,000 1,500 99,390 2,240 2,468 10,606 5,823 3,670 2,050 1,728 690 2,758 17,077 Other loans 22,037 0 19,024 10 13 29 70 811 160 161 20 0 1,740 Items in process of collection 1,721 67 0 159 353 177 3 137 24 123 132 206 341 Bank premises 2,149 118 212 65 151 197 227 206 124 112 276 254 207 Other assets5 101,716 5,494 27,693 9,131 6,602 24,767 8,242 5,001 1,323 1,935 1,425 2,284 7,818 Interdistrict settlement account 0 + 3,983 -49,626 + 2,362 + 4,427 - 5,425 +19,951 +14,131 + 4,334 + 1,821 + 5,717 + 4,090 - 5,766 Total assets 892,522 36,926 315,152 40,810 37,415 85,993 95,594 78,228 29,221 17,500 30,808 35,375 89,501 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 June 11, 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 988,6 5 1 37,7 2 3 344,4 9 4 40,7 6 6 39,0 4 3 80,8 4 1 119,2 5 9 83,8 2 9 30,8 9 4 18,0 9 1 31,6 2 4 55,8 3 9 106,249 Less: notes held by F.R. Banks 202,2 5 3 5,1 4 8 61,8 4 7 7,2 1 4 7,5 9 9 13,2 2 1 32,7 2 4 13,3 7 6 3,9 8 0 2,8 5 2 3,5 1 9 23,8 8 1 26,893 Federal Reserve notes, net 786,3 9 8 32,5 7 5 282,6 4 8 33,5 5 2 31,4 4 4 67,6 2 0 86,5 3 4 70,4 5 4 26,9 1 3 15,2 4 0 28,1 0 5 31,9 5 8 79,355 Reverse repurchase agreements1 39,7 5 5 1,6 6 7 14,1 4 4 1,7 3 6 1,5 0 7 3,6 0 5 3,9 5 6 3,5 0 9 1,3 7 4 7 5 1 1,4 6 0 1,6 4 9 4,397 Deposits 19,1 0 7 4 5 9 7,3 3 9 5 7 8 7 0 5 3,6 1 1 1,1 8 8 1,1 1 2 3 5 6 4 7 0 5 0 1 7 4 4 2,044 Depository institutions 14,3 6 9 4 4 4 2,7 2 2 5 7 4 7 0 1 3,5 4 4 1,1 8 5 1,1 1 0 3 3 6 4 6 9 5 0 0 7 4 3 2,041 U.S. Treasury, general account 4,3 6 9 0 4,3 6 9 0 0 0 0 0 0 0 0 0 0 Foreign official 1 0 0 2 7 0 4 3 1 1 3 2 0 1 0 1 3 Other 2 6 9 1 3 1 7 8 0 1 5 5 0 0 1 9 0 1 0 0 Deferred availability cash items 3,3 2 1 1 7 7 0 4 1 8 7 5 1 2 5 7 2 7 0 2 4 1 4 6 2 5 2 1 7 9 2 0 7 523 Other liabilities and accrued dividends2 3,5 7 9 1 6 0 9 3 2 2 1 0 1 9 9 5 1 6 3 6 0 3 1 2 1 5 4 1 0 8 1 3 2 1 7 3 323 Total liabilities 852,1 5 9 35,0 3 8 305,0 6 3 36,4 9 4 34,6 0 6 75,6 0 8 92,3 0 8 75,6 2 7 28,8 4 3 16,8 2 0 30,3 7 6 34,7 3 2 86,642 Capital Capital paid in 19,9 3 1 8 1 6 4,9 3 3 2,3 3 4 1,4 0 1 5,1 7 8 1,6 2 6 1,2 8 0 1 8 1 3 1 6 2 0 8 2 6 0 1,400 Surplus 18,4 8 6 1,0 5 0 4,6 5 0 1,8 1 4 1,2 9 1 4,9 9 8 1,4 2 5 8 1 5 1 8 0 3 5 5 1 9 4 3 6 4 1,351 Other capital 1,9 4 6 2 2 5 0 6 1 6 8 1 1 6 2 1 0 2 3 4 5 0 6 1 7 9 3 0 1 9 108 Total liabilities and capital 892,5 2 2 36,9 2 6 315,1 5 2 40,8 1 0 37,4 1 5 85,9 9 3 95,5 9 4 78,2 2 8 29,2 2 1 17,5 0 0 30,8 0 8 35,3 7 5 89,501 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 Jun 11, 2008 Federal Reserve notes outstanding 988,651 Less: Notes held by F.R. Banks not subject to collateralization 202,253 Federal Reserve notes to be collateralized 786,398 Collateral held against Federal Reserve notes 786,398 Gold certificate account 11,037 Special drawing rights certificate account 2,200 U.S. Treasury and agency securities pledged1 561,152 Other assets pledged 212,009 Memo: Total U.S. Treasury and agency securities1 600,323 Less: face value of securities under reverse repurchase agreements 39,171 U.S. Treasury and agency securities eligible to be pledged 561,152 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.