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 19, 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 18, 2008 Jun 11, 2008 Jun 20, 2007 Jun 18, 2008 Reserve Bank credit 877,428 + 3,941 + 25,005 886,162 Securities held outright 478,710 - 3,340 - 311,707 478,734 U.S. Treasury1 478,710 - 3,340 - 311,707 478,734 Bills2 21,740 - 3,403 - 255,279 21,740 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 5,407 + 62 + 1,140 5,431 Federal agency2 0 0 0 0 Repurchase agreements4 124,643 + 7,822 + 101,964 133,500 Term auction credit 150,000 0 + 150,000 150,000 Other loans 22,015 + 140 + 21,732 21,889 Primary credit 13,371 + 223 + 13,239 13,667 Secondary credit 0 - 224 0 0 Seasonal credit 70 + 3 - 81 77 Primary dealer credit facility 8,574 + 138 + 8,574 8,145 Other credit extensions 0 0 0 0 Float -1,294 + 103 - 736 -1,781 Other Federal Reserve assets 103,354 - 784 + 63,752 103,820 Gold stock 11,041 0 0 11,041 Special drawing rights certificate account 2,200 0 0 2,200 Treasury currency outstanding5 38,833 + 14 + 341 38,833 Total factors supplying reserve funds 929,502 + 3,955 + 25,347 938,236 Currency in circulation5 822,732 - 50 + 12,492 823,766 Reverse repurchase agreements6 40,254 + 140 + 8,533 41,809 Foreign official and international accounts 40,254 + 140 + 8,533 41,809 Dealers 0 0 0 0 Treasury cash holdings 279 + 6 - 22 276 Deposits with F.R. Banks, other than reserve balances 12,435 + 119 + 62 11,672 U.S. Treasury, general account 4,926 + 77 - 549 4,172 Foreign official 100 + 1 + 4 101 Service-related 7,132 + 36 + 549 7,132 Required clearing balances 7,132 + 36 + 549 7,132 Adjustments to compensate for float 0 0 0 0 Other 276 + 3 + 56 267 Other liabilities and capital 43,334 - 1,205 + 3,993 43,494 Total factors, other than reserve balances, absorbing reserve funds 919,034 - 990 + 25,057 921,016 Reserve balances with Federal Reserve Banks 10,468 + 4,945 + 290 17,220 Memo (off-balance-sheet items): Marketable securities held in custody for foreign official and international accounts2,7 2,317,046 + 12,904 + 350,028 2,320,522 U.S. Treasury 1,359,927 + 10,198 + 128,977 1,359,167 Federal agency 957,119 + 2,706 + 221,050 961,355 Securities lent to dealers 119,366 + 12,666 + 114,648 118,818 Overnight facility8 7,446 - 2,287 + 2,728 4,361 Term facility9 111,920 + 14,953 + 111,920 114,457 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 18, 2008 Jun 11, 2008 Jun 20, 2007 Assets Gold certificate account 11,037 0 0 Special drawing rights certificate account 2,200 0 0 Coin 1,329 - 10 + 397 Securities, repurchase agreements, term auction credit, and other loans 784,123 + 11,763 - 28,249 Securities held outright 478,734 - 3,339 - 311,705 U.S. Treasury1 478,734 - 3,339 - 311,705 Bills2 21,740 - 3,403 - 255,279 Notes and bonds, nominal2 412,392 0 - 62,280 Notes and bonds, inflation-indexed2 39,171 0 + 4,712 Inflation compensation3 5,431 + 63 + 1,142 Federal agency2 0 0 0 Repurchase agreements4 133,500 + 15,250 + 112,500 Term auction credit 150,000 0 + 150,000 Other loans 21,889 - 148 + 20,956 Items in process of collection (623) 1,021 - 115 - 2,493 Bank premises 2,154 + 5 + 118 Other assets5 101,462 - 254 + 63,695 Total assets (623) 903,326 + 11,389 + 33,467 Liabilities Federal Reserve notes, net of F.R. Bank holdings 786,534 + 136 + 12,898 Reverse repurchase agreements6 41,809 + 2,054 + 11,366 Deposits (0) 28,688 + 9,581 + 6,210 Depository institutions 24,149 + 9,780 + 8,011 U.S. Treasury, general account 4,172 - 197 - 1,850 Foreign official 101 + 1 + 5 Other (0) 267 - 2 + 45 Deferred availability cash items (623) 2,802 + 66 - 1,348 Other liabilities and accrued dividends7 3,266 - 313 - 2,776 Total liabilities (623) 863,099 + 11,525 + 26,351 Capital accounts Capital paid in 19,878 - 53 + 3,772 Surplus 18,486 0 + 3,099 Other capital accounts 1,864 - 82 + 247 Total capital 40,227 - 136 + 7,117 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 18, 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 150,000 14,041 5,361 + 1,958 93,500 41,809 16 days to 90 days 0 7,848 39,695 - 1,541 40,000 0 91 days to 1 year . . . 0 75,977 - 3,128 . . . . . . Over 1 year to 5 years . . . . . . 171,083 - 668 . . . . . . Over 5 years to 10 years . . . . . . 90,108 + 14 . . . . . . Over 10 years . . . . . . 96,510 + 25 . . . . . . All 150,000 21,889 478,734 - 3,339 133,500 41,809 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 18, 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 1,329 43 57 98 107 164 157 163 45 57 92 149 197 Securities, repurchase agreements, term auction credit, and other loans 784,123 27,179 335,871 29,019 25,704 66,152 66,885 58,512 23,349 13,467 23,186 28,160 86,638 Securities held outright 478,734 20,080 170,330 20,902 18,153 43,411 47,633 42,253 16,543 9,038 17,578 19,858 52,953 U.S. Treasury1 478,734 20,080 170,330 20,902 18,153 43,411 47,633 42,253 16,543 9,038 17,578 19,858 52,953 Bills2 21,740 912 7,735 949 824 1,971 2,163 1,919 751 410 798 902 2,405 Notes and bonds3 456,993 19,168 162,595 19,953 17,329 41,439 45,470 40,334 15,792 8,628 16,780 18,957 50,548 Federal agency2 0 0 0 0 0 0 0 0 0 0 0 0 0 Repurchase agreements4 133,500 5,599 47,498 5,829 5,062 12,106 13,283 11,783 4,613 2,520 4,902 5,538 14,767 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 21,889 0 18,652 48 20 30 146 806 143 181 16 6 1,841 Items in process of collection 1,644 60 0 214 383 83 103 115 33 129 201 187 135 Bank premises 2,154 118 212 65 151 200 227 207 124 112 276 254 207 Other assets5 101,462 5,485 27,751 9,109 6,589 24,686 8,011 5,010 1,332 1,935 1,434 2,291 7,830 Interdistrict settlement account 0 + 3,903 -45,233 + 2,691 + 3,949 - 5,966 +19,170 +13,418 + 4,124 + 1,379 + 5,553 + 4,061 - 7,049 Total assets 903,949 37,329 323,467 41,732 37,410 86,357 95,940 78,550 29,422 17,308 31,157 35,835 89,441 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 18, 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 988,8 5 1 37,6 8 1 345,1 2 4 40,7 2 2 39,0 7 4 80,7 6 5 119,0 7 9 83,8 4 7 30,9 6 2 18,0 6 8 31,6 8 6 55,7 4 8 106,094 Less: notes held by F.R. Banks 202,3 1 7 5,0 8 2 62,1 8 6 7,0 4 5 7,7 1 3 13,2 5 5 32,4 3 7 13,4 7 8 3,9 3 9 2,9 1 7 3,4 0 4 23,7 0 3 27,159 Federal Reserve notes, net 786,5 3 4 32,5 9 9 282,9 3 7 33,6 7 7 31,3 6 1 67,5 1 0 86,6 4 2 70,3 7 0 27,0 2 3 15,1 5 1 28,2 8 3 32,0 4 5 78,936 Reverse repurchase agreements1 41,8 0 9 1,7 5 4 14,8 7 5 1,8 2 5 1,5 8 5 3,7 9 1 4,1 6 0 3,6 9 0 1,4 4 5 7 8 9 1,5 3 5 1,7 3 4 4,625 Deposits 28,6 8 8 7 5 4 14,9 7 6 1,2 9 2 7 2 4 3,8 6 2 1,2 9 7 1,3 4 7 3 4 9 3 0 3 4 9 2 1,0 1 9 2,273 Depository institutions 24,1 4 9 7 3 5 10,5 5 7 1,2 8 8 7 2 0 3,7 9 9 1,2 9 4 1,3 4 5 3 3 0 3 0 2 4 9 0 1,0 1 8 2,270 U.S. Treasury, general account 4,1 7 2 0 4,1 7 2 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 6 7 1 7 1 7 6 0 1 5 2 0 0 1 9 0 1 0 0 Deferred availability cash items 3,4 2 4 1 8 6 0 4 0 2 7 3 0 3 2 0 2 4 6 2 3 7 7 6 2 7 5 2 8 8 2 2 5 440 Other liabilities and accrued dividends2 3,2 6 6 1 6 0 6 3 0 2 1 1 1 9 7 5 1 1 3 6 7 3 1 0 1 5 1 1 0 7 1 3 1 1 7 3 319 Total liabilities 863,7 2 2 35,4 5 3 313,4 1 9 37,4 0 7 34,5 9 7 75,9 9 4 92,7 1 2 75,9 5 3 29,0 4 4 16,6 2 5 30,7 2 8 35,1 9 7 86,591 Capital Capital paid in 19,8 7 8 8 1 6 4,9 3 3 2,3 3 4 1,4 0 1 5,1 7 8 1,5 6 4 1,2 8 1 1 8 1 3 2 2 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 1,8 6 4 1 0 4 6 4 1 7 8 1 2 1 1 8 8 2 3 8 5 0 1 1 6 6 2 7 1 5 99 Total liabilities and capital 903,9 4 9 37,3 2 9 323,4 6 7 41,7 3 2 37,4 1 0 86,3 5 7 95,9 4 0 78,5 5 0 29,4 2 2 17,3 0 8 31,1 5 7 35,8 3 5 89,441 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 18, 2008 Federal Reserve notes outstanding 988,851 Less: Notes held by F.R. Banks not subject to collateralization 202,317 Federal Reserve notes to be collateralized 786,534 Collateral held against Federal Reserve notes 786,534 Gold certificate account 11,037 Special drawing rights certificate account 2,200 U.S. Treasury and agency securities pledged1 570,497 Other assets pledged 202,800 Memo: Total U.S. Treasury and agency securities1 612,234 Less: face value of securities under reverse repurchase agreements 41,736 U.S. Treasury and agency securities eligible to be pledged 570,497 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.