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 26, 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 25, 2008 Jun 18, 2008 Jun 27, 2007 Jun 25, 2008 Reserve Bank credit 874,582 - 2,847 + 26,965 877,008 Securities held outright 478,773 + 63 - 311,703 478,796 U.S. Treasury1 478,773 + 63 - 311,703 478,796 Bills2 21,740 0 - 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 5,470 + 63 + 1,144 5,494 Federal agency2 0 0 0 0 Repurchase agreements4 121,679 - 2,964 + 103,893 129,750 Term auction credit 150,000 0 + 150,000 150,000 Other loans 20,874 - 1,141 + 20,695 15,402 Primary credit 14,702 + 1,331 + 14,697 13,637 Secondary credit 0 0 0 0 Seasonal credit 77 + 7 - 97 76 Primary dealer credit facility 6,095 - 2,479 + 6,095 1,690 Other credit extensions 0 0 0 0 Float -1,145 + 148 - 292 -1,415 Other Federal Reserve assets 104,402 + 1,048 + 64,372 104,474 Gold stock 11,041 0 0 11,041 Special drawing rights certificate account 2,200 0 0 2,200 Treasury currency outstanding5 38,847 + 14 + 340 38,847 Total factors supplying reserve funds 926,670 - 2,833 + 27,305 929,096 Currency in circulation5 822,947 + 215 + 13,213 825,203 Reverse repurchase agreements6 40,374 + 120 + 9,546 42,049 Foreign official and international accounts 40,374 + 120 + 9,546 42,049 Dealers 0 0 0 0 Treasury cash holdings 276 - 3 - 18 279 Deposits with F.R. Banks, other than reserve balances 12,511 + 76 + 857 11,609 U.S. Treasury, general account 5,070 + 144 + 147 4,208 Foreign official 100 0 + 1 100 Service-related 7,055 - 77 + 661 7,055 Required clearing balances 7,055 - 77 + 661 7,055 Adjustments to compensate for float 0 0 0 0 Other 285 + 9 + 47 246 Other liabilities and capital 44,453 + 1,119 + 4,798 44,184 Total factors, other than reserve balances, absorbing reserve funds 920,561 + 1,527 + 28,396 923,324 Reserve balances with Federal Reserve Banks 6,109 - 4,360 - 1,091 5,772 Memo (off-balance-sheet items): Marketable securities held in custody for foreign official and international accounts2,7 2,322,375 + 5,329 + 347,166 2,334,025 U.S. Treasury 1,353,434 - 6,493 + 121,823 1,361,911 Federal agency 968,941 + 11,822 + 225,344 972,114 Securities lent to dealers 112,072 - 7,294 + 108,743 112,486 Overnight facility8 5,612 - 1,834 + 2,283 7,359 Term facility9 106,460 - 5,460 + 106,460 105,127 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 25, 2008 Jun 18, 2008 Jun 27, 2007 Assets Gold certificate account 11,037 0 0 Special drawing rights certificate account 2,200 0 0 Coin 1,333 + 4 + 395 Securities, repurchase agreements, term auction credit, and other loans 773,949 - 10,174 - 36,735 Securities held outright 478,796 + 62 - 311,701 U.S. Treasury1 478,796 + 62 - 311,701 Bills2 21,740 0 - 255,279 Notes and bonds, nominal2 412,392 0 - 62,280 Notes and bonds, inflation-indexed2 39,171 0 + 4,712 Inflation compensation3 5,494 + 63 + 1,147 Federal agency2 0 0 0 Repurchase agreements4 129,750 - 3,750 + 109,750 Term auction credit 150,000 0 + 150,000 Other loans 15,402 - 6,487 + 15,215 Items in process of collection (483) 1,213 + 192 - 2,473 Bank premises 2,154 0 + 115 Other assets5 102,325 + 863 + 64,034 Total assets (483) 894,212 - 9,114 + 25,337 Liabilities Federal Reserve notes, net of F.R. Bank holdings 787,963 + 1,429 + 12,911 Reverse repurchase agreements6 42,049 + 240 + 11,915 Deposits (0) 17,387 - 11,301 - 3,187 Depository institutions 12,833 - 11,316 - 3,388 U.S. Treasury, general account 4,208 + 36 + 169 Foreign official 100 - 1 + 3 Other (0) 246 - 21 + 28 Deferred availability cash items (483) 2,628 - 174 - 1,210 Other liabilities and accrued dividends7 3,797 + 531 - 2,334 Total liabilities (483) 853,824 - 9,275 + 18,094 Capital accounts Capital paid in 19,877 - 1 + 3,766 Surplus 18,486 0 + 3,088 Other capital accounts 2,024 + 160 + 388 Total capital 40,387 + 160 + 7,242 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 25, 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 7,654 5,855 + 494 89,750 42,049 16 days to 90 days 75,000 7,748 39,201 - 494 40,000 0 91 days to 1 year . . . 0 75,981 + 4 . . . . . . Over 1 year to 5 years . . . . . . 171,103 + 20 . . . . . . Over 5 years to 10 years . . . . . . 90,121 + 13 . . . . . . Over 10 years . . . . . . 96,535 + 25 . . . . . . All 150,000 15,402 478,796 + 62 129,750 42,049 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 25, 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 1,333 40 57 99 113 166 151 164 50 57 93 149 193 Securities, repurchase agreements, term auction credit, and other loans 773,949 27,026 328,676 26,848 25,896 66,028 67,131 58,478 23,171 11,729 22,660 28,159 88,145 Securities held outright 478,796 20,083 170,353 20,905 18,156 43,417 47,639 42,258 16,545 9,039 17,580 19,861 52,960 U.S. Treasury1 478,796 20,083 170,353 20,905 18,156 43,417 47,639 42,258 16,545 9,039 17,580 19,861 52,960 Bills2 21,740 912 7,735 949 824 1,971 2,163 1,919 751 410 798 902 2,405 Notes and bonds3 457,056 19,171 162,618 19,956 17,331 41,445 45,476 40,340 15,794 8,629 16,782 18,959 50,555 Federal agency2 0 0 0 0 0 0 0 0 0 0 0 0 0 Repurchase agreements4 129,750 5,442 46,164 5,665 4,920 11,766 12,910 11,452 4,484 2,450 4,764 5,382 14,352 Term auction credit 150,000 1,500 100,265 240 2,810 10,806 6,435 4,100 2,016 18 300 2,900 18,611 Other loans 15,402 2 11,894 38 10 40 147 668 126 223 16 16 2,222 Items in process of collection 1,697 58 0 232 344 168 113 22 22 119 256 176 186 Bank premises 2,154 118 213 65 151 200 227 207 124 112 276 254 208 Other assets5 102,325 5,531 28,000 9,172 6,641 24,843 8,099 5,066 1,348 1,950 1,454 2,317 7,905 Interdistrict settlement account 0 + 3,808 -43,232 + 3,664 + 3,500 - 9,050 +20,590 +12,629 + 4,170 + 2,978 + 5,784 + 3,944 - 8,785 Total assets 894,695 37,120 318,523 40,615 37,173 83,393 97,699 77,692 29,300 17,174 30,938 35,733 89,335 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 25, 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 989,0 9 4 37,3 7 8 346,8 6 2 40,3 6 1 38,7 9 6 80,3 1 8 120,6 4 3 83,1 8 7 30,7 2 2 17,8 7 4 31,3 9 7 55,8 1 6 105,738 Less: notes held by F.R. Banks 201,1 3 1 5,0 3 2 61,7 9 3 6,9 0 1 7,5 8 7 13,0 9 4 32,4 3 5 13,4 6 6 3,8 7 1 2,8 5 8 3,3 5 5 23,5 8 5 27,155 Federal Reserve notes, net 787,9 6 3 32,3 4 6 285,0 6 9 33,4 6 0 31,2 0 9 67,2 2 4 88,2 0 9 69,7 2 2 26,8 5 1 15,0 1 7 28,0 4 2 32,2 3 2 78,583 Reverse repurchase agreements1 42,0 4 9 1,7 6 4 14,9 6 1 1,8 3 6 1,5 9 4 3,8 1 3 4,1 8 4 3,7 1 1 1,4 5 3 7 9 4 1,5 4 4 1,7 4 4 4,651 Deposits 17,3 8 7 7 6 7 7,2 5 9 3 8 5 7 4 7 1,1 8 1 1,5 1 6 1,1 0 8 4 2 8 3 1 4 4 6 5 7 1 4 2,503 Depository institutions 12,8 3 3 7 6 4 2,8 1 4 3 8 1 7 4 3 1,1 2 3 1,5 1 3 1,1 0 6 4 0 0 3 1 3 4 6 3 7 1 2 2,500 U.S. Treasury, general account 4,2 0 8 0 4,2 0 8 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 4 6 0 1 6 7 0 1 4 7 0 0 2 8 0 1 0 0 Deferred availability cash items 3,1 1 2 1 9 1 0 3 6 9 5 9 7 2 3 5 2 2 9 2 3 5 4 1 2 5 6 3 2 2 2 2 5 411 Other liabilities and accrued dividends2 3,7 9 7 1 6 1 1,1 2 7 2 1 4 1 9 9 5 2 7 3 8 3 3 0 9 1 4 9 1 0 7 1 2 9 1 7 1 321 Total liabilities 854,3 0 8 35,2 2 9 308,4 1 6 36,2 6 4 34,3 4 7 72,9 7 9 94,5 2 1 75,0 8 6 28,9 2 2 16,4 8 7 30,5 0 2 35,0 8 6 86,468 Capital Capital paid in 19,8 7 7 8 1 6 4,9 3 4 2,3 3 4 1,4 0 1 5,1 7 8 1,5 6 3 1,2 8 0 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 2,0 2 4 2 5 5 2 4 2 0 4 1 3 4 2 3 8 1 8 9 5 1 1 1 7 1 0 3 4 2 3 116 Total liabilities and capital 894,6 9 5 37,1 2 0 318,5 2 3 40,6 1 5 37,1 7 3 83,3 9 3 97,6 9 9 77,6 9 2 29,3 0 0 17,1 7 4 30,9 3 8 35,7 3 3 89,335 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 25, 2008 Federal Reserve notes outstanding 989,094 Less: Notes held by F.R. Banks not subject to collateralization 201,131 Federal Reserve notes to be collateralized 787,963 Collateral held against Federal Reserve notes 787,963 Gold certificate account 11,037 Special drawing rights certificate account 2,200 U.S. Treasury and agency securities pledged1 566,482 Other assets pledged 208,245 Memo: Total U.S. Treasury and agency securities1 608,546 Less: face value of securities under reverse repurchase agreements 42,065 U.S. Treasury and agency securities eligible to be pledged 566,482 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.