FEDERAL RESERVE Statistical Release H.4.1 Factors Affecting Reserve Balances of Depository Institutions and Condition Statement of Federal Reserve Banks May 10, 2007 1. Factors Affecting Reserve Balances of Depository Institutions Millions of dollars Averages of daily figures Reserve Bank credit, related items, and Week ended Change from week ended Wednesday reserve balances of depository institutions at May 9, 2007 May 2, 2007 May 10, 2006 May 9, 2007 Federal Reserve Banks Reserve Bank Credit 853,506 - 13,418 + 28,822 860,545 Securities held outright 789,796 + 2,613 + 30,071 790,025 U.S. Treasury (1) 789,796 + 2,613 + 30,071 790,025 Bills (2) 277,019 0 + 1,649 277,019 Notes and bonds, nominal (2) 474,473 + 1,323 + 16,200 474,672 Notes and bonds, inflation-indexed (2) 34,459 + 1,214 + 11,813 34,459 Inflation compensation (3) 3,846 + 77 + 410 3,875 Federal agency (2) 0 0 0 0 Repurchase agreements(4) 22,821 - 15,929 - 679 29,000 Loans to depository institutions 75 + 9 - 99 82 Primary credit 5 - 1 - 35 7 Secondary credit 0 0 0 0 Seasonal credit 70 + 10 - 64 75 Float -476 - 176 - 171 -36 Other Federal Reserve assets 41,289 + 64 - 302 41,474 Gold stock 11,041 0 0 11,041 Special drawing rights certificate account 2,200 0 0 2,200 Treasury currency outstanding (5) 38,441 + 14 + 494 38,441 Total factors supplying reserve funds 905,189 - 13,403 + 29,317 912,227 Currency in circulation(5) 808,696 + 1,322 + 14,965 810,478 Reverse repurchase agreements (6) 36,019 - 4,092 + 10,043 35,410 Foreign official and international accounts 36,019 + 265 + 10,043 35,410 Dealers 0 - 4,357 0 0 Treasury cash holdings 269 - 27 + 91 231 Deposits with F.R.Banks, other than reserve balances 11,785 - 9,997 - 458 11,590 U.S. Treasury, general account 4,914 - 9,973 - 237 4,726 Foreign official 93 0 - 4 93 Service-related 6,509 - 1 - 187 6,509 Required clearing balances 6,509 - 1 - 187 6,509 Adjustments to compensate for float 0 0 0 0 Other 268 - 24 - 31 261 Other liabilities and capital 38,801 - 33 + 5,022 38,546 Total factors, other than reserve balances, absorbing reserve funds 895,569 - 12,828 + 29,663 896,255 Reserve balances with Federal Reserve Banks 9,620 - 575 - 346 15,972 Memo (off-balance-sheet items): Marketable securities held in custody for foreign official and international accounts(2,7) 1,931,132 + 4,368 + 310,126 1,937,411 U.S. Treasury 1,228,032 + 724 + 103,279 1,227,971 Federal agency 703,100 + 3,644 + 206,847 709,440 Securities lent to dealers 3,044 - 203 + 2,036 1,675 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. 2. Consolidated Statement of Condition of All Federal Reserve Banks Millions of Dollars Eliminations Change Since from Wednesday Wednesday Wednesday Assets, liabilities, and capital consolidation May 9, 2007 May 2, 2007 May 10, 2006 Assets Gold certificate account 11,037 0 0 Special drawing rights certificate account 2,200 0 0 Coin 1,016 - 57 + 235 Securities, repurchase agreements, and loans 819,107 - 16,179 + 38,485 Securities held outright 790,025 + 2,815 + 30,288 U.S. Treasury (1) 790,025 + 2,815 + 30,288 Bills (2) 277,019 0 + 1,649 Notes and bonds, nominal (2) 474,672 + 2,736 + 16,399 Notes and bonds, inflation-indexed (2) 34,459 0 + 11,813 Inflation compensation (3) 3,875 + 79 + 427 Federal agency (2) 0 0 0 Repurchase agreements (4) 29,000 - 19,000 + 8,500 Loans 82 + 6 - 303 Items in process of collection (943) 4,144 + 160 - 908 Bank premises 2,006 + 3 + 170 Other assets (5) 39,489 + 457 - 529 Total assets (943) 878,998 - 15,617 + 37,452 Liabilities Federal Reserve notes net of FR Bank holdings 773,279 + 1,116 + 14,813 Reverse repurchase agreements (6) 35,410 - 6,011 + 10,875 Deposits (0) 27,583 - 10,011 + 8,286 Depository institutions 22,503 + 10,630 + 8,519 U.S. Treasury, general account 4,726 - 20,624 - 205 Foreign official 93 0 + 8 Other (0) 261 - 17 - 35 Deferred availability cash items (943) 4,179 - 941 - 1,641 Other liabilities and accrued dividends (7) 5,906 + 14 + 1,220 Total liabilities (943) 846,358 - 15,832 + 33,554 Capital Accounts Capital paid in 15,891 + 16 + 2,043 Surplus 15,374 0 + 2,473 Other capital accounts 1,375 + 199 - 617 Total capital 32,640 + 215 + 3,898 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 securites. 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 Loans and Securities, May 9, 2007 Millions of dollars U.S. Treasury Federal agency Reverse Maturity Loans securities (1) securities Repurchase repurchase Weekly Weekly agreements(2)agreements(2) Holdings changes Holdings changes Within 15 days 19 68,357 + 2,412 0 0 29,000 35,410 16 days to 90 days 63 162,882 - 1,830 0 0 0 0 91 days to 1 year 0 170,832 - 578 0 0 ------ ------ Over 1 to 5 years ------ 237,737 + 2,760 0 0 ------ ------ Over 5 to 10 years ------ 66,921 + 20 0 0 ------ ------ Over 10 years ------ 83,296 + 31 0 0 ------ ------ All 82 790,025 + 2,815 0 0 29,000 35,410 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 classified by remaining maturity of the agreements. 4. Statement of Condition of Each Federal Reserve Bank on May 9, 2007 Millions of dollars Kansas San Assets, liabilities, and capital Total Boston New York Philadelphia Cleveland Richmond Atlanta Chicago St. Louis Minneapolis City Dallas 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 1,016 44 65 64 102 94 113 122 45 44 76 96 152 Securities, repurchase agreements, and loans 819,107 37,753 296,567 36,234 33,517 70,962 75,965 68,726 26,193 16,355 26,526 35,985 94,325 Securities held outright 790,025 36,409 286,066 34,951 32,330 68,449 73,273 66,265 25,250 15,763 25,574 34,711 90,984 U.S. Treasury (1) 790,025 36,409 286,066 34,951 32,330 68,449 73,273 66,265 25,250 15,763 25,574 34,711 90,984 Bills (2) 277,019 12,767 100,308 12,255 11,336 24,001 25,693 23,235 8,854 5,527 8,967 12,171 31,903 Notes and bonds(3) 513,006 23,642 185,758 22,696 20,994 44,448 47,580 43,029 16,396 10,236 16,606 22,540 59,081 Federal agency (2) 0 0 0 0 0 0 0 0 0 0 0 0 0 Repurchase agreements(4) 29,000 1,336 10,501 1,283 1,187 2,513 2,690 2,432 927 579 939 1,274 3,340 Loans 82 7 0 0 0 0 2 29 16 14 13 0 1 Items in process of collection 5,087 220 172 652 810 217 608 260 109 195 320 790 735 Bank premises 2,006 117 212 57 156 172 231 208 87 115 201 260 190 Other assets(5) 39,489 1,341 12,330 3,254 2,246 7,219 3,402 2,601 821 750 806 1,068 3,651 Interdistrict settlement account 0 - 2,280 + 2,222 - 1,248 - 4,113 - 97 + 5,136 + 678 + 309 - 626 + 1,163 + 1,016 - 2,161 Total Assets 879,941 37,758 316,495 39,552 33,250 79,582 86,738 73,709 27,960 17,066 29,493 39,926 98,412 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. 4. Statement of Condition of Each Federal Reserve Bank on May 9, 2007 Millions of dollars Kansas San Assets, liabilities, and capital Total Boston New York Philadelphia Cleveland Richmond Atlanta Chicago St. Louis Minneapolis City Dallas Francisco Liabilities Federal Reserve notes outstanding 968,133 38,236 340,885 38,853 35,876 78,324 107,519 80,952 29,431 17,294 30,613 57,446 112,703 Less: notes held by F.R. Banks 194,853 4,291 63,308 6,607 8,589 12,936 29,523 14,341 3,629 2,524 3,807 21,327 23,970 Federal Reserve notes, net 773,279 33,945 277,577 32,246 27,287 65,388 77,995 66,611 25,803 14,769 26,806 36,119 88,733 Reverse repurchase agreements (1) 35,410 1,632 12,822 1,567 1,449 3,068 3,284 2,970 1,132 707 1,146 1,556 4,078 Deposits 27,583 797 15,472 877 1,413 1,852 1,692 1,494 332 511 504 1,028 1,611 Depository institutions 22,503 795 10,507 872 1,410 1,761 1,689 1,492 329 509 502 1,028 1,608 U.S. Treasury, general account 4,726 0 4,726 0 0 0 0 0 0 0 0 0 0 Foreign official 93 1 63 5 3 11 3 2 0 1 0 1 3 Other 261 1 176 0 0 80 0 0 2 1 1 0 0 Deferred availability cash items 5,122 292 91 923 639 387 473 333 112 277 453 359 782 Other liabilities and accrued dividends (2) 5,906 257 1,820 290 280 769 592 481 215 154 199 272 577 Total liabilities 847,301 36,923 307,782 35,904 31,068 71,464 84,037 71,890 27,593 16,418 29,107 39,335 95,781 Capital Capital paid in 15,891 403 4,221 1,809 1,065 3,972 1,317 881 172 317 181 278 1,274 Surplus 15,374 396 3,771 1,810 1,087 4,095 1,276 859 166 276 176 213 1,247 Other capital 1,375 36 720 29 30 51 108 79 29 55 28 100 110 Total liabilities and capital 879,941 37,758 316,495 39,552 33,250 79,582 86,738 73,709 27,960 17,066 29,493 39,926 98,412 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 Federal Reserve notes and collateral Wednesday May 9, 2007 Federal Reserve notes outstanding 968,133 Less: Notes held by F.R. Banks not subject to collateralization 194,853 Federal Reserve Notes to be collateralized 773,279 Collateral held against Federal Reserve notes 773,279 Gold certificate account 11,037 Special drawing rights certificate account 2,200 U.S. Treasury and agency securities pledged (1) 760,043 Other assets pledged 0 Memo: Total U.S. Treasury and agency securities (1) 819,025 Less:face value of securities under reverse repurchase agreements 35,462 U.S. Treasury and agency securities eligible to be pledged 783,562 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.