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 Averages of daily figures Reserve Bank credit, related items, and Week ended Change from week ended Wednesday reserve balances of depository institutions at Apr 16, 2008 Apr 9, 2008 Apr 18, 2007 Apr 16, 2008 Federal Reserve Banks Reserve Bank credit 867,193 + 357 + 16,114 865,792 Securities held outright 548,622 - 12,195 - 234,222 548,632 U.S. Treasury (1) 548,622 - 12,195 - 234,222 548,632 Bills (2) 70,317 - 11,511 - 206,702 70,317 Notes and bonds, nominal (2) 435,051 - 714 - 35,348 435,051 Notes and bonds, inflation-indexed (2) 38,437 0 + 6,661 38,437 Inflation compensation (3) 4,817 + 30 + 1,167 4,827 Federal agency (2) 0 0 0 0 Repurchase agreements (4) 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 outstanding (5) 38,764 + 14 + 371 38,764 Total factors supplying reserve funds 919,198 + 371 + 16,485 917,797 Currency in circulation (5) 813,964 - 1,196 + 5,820 814,542 Reverse repurchase agreements (6) 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 accounts (2,7) 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 facility (8) 9,317 - 3,959 + 7,834 9,864 Term facility (9) 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 U.S. Treasury securities. 9. Fully collateralized by 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. 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 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. Treasury (1) 548,632 - 11,482 - 234,228 Bills (2) 70,317 - 11,511 - 206,702 Notes and bonds, nominal (2) 435,051 0 - 35,348 Notes and bonds, inflation-indexed (2) 38,437 0 + 6,661 Inflation compensation (3) 4,827 + 29 + 1,161 Federal agency (2) 0 0 0 Repurchase agreements (4) 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 assets (5) 78,573 + 15,709 + 39,834 Total assets (522) 884,203 - 10,709 + 19,074 Liabilities Federal Reserve notes, net of FR Bank holdings 777,511 - 1,391 + 5,617 Reverse repurchase agreements (6) 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 dividends (7) 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 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 Term Auction Credit, Other Loans, and Securities, April 16, 2008 Millions of dollars U.S. Treasury Reverse Remaining maturity Term securities (1) Repurchase repurchase auction Other Weekly agreements agreements credit loans Holdings changes (2) (2) 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 to 5 years --- --- 195,968 - 930 --- --- Over 5 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. 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 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 1,381 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. Treasury (1) 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 Bills (2) 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 bonds (3) 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 agency (2) 0 0 0 0 0 0 0 0 0 0 0 0 0 Repurchase agreements (4) 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 assets (5) 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. 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 City Dallas Francisco Liabilities Federal Reserve notes outstanding 984,984 38,540 339,742 41,564 39,406 78,821 114,232 84,824 31,925 18,633 32,440 56,098 108,760 Less: notes held by F.R. Banks 207,472 6,003 58,852 8,038 8,244 14,258 34,531 14,299 4,471 2,784 3,600 25,062 27,330 Federal Reserve notes, net 777,511 32,538 280,890 33,526 31,161 64,564 79,700 70,524 27,454 15,849 28,840 31,036 81,430 Reverse repurchase agreements (1) 40,659 1,874 14,723 1,799 1,664 3,523 3,771 3,410 1,300 811 1,316 1,786 4,683 Deposits 17,769 375 9,419 458 416 1,816 1,061 962 351 262 369 639 1,640 Depository institutions 12,743 353 4,558 454 412 1,705 1,058 961 338 261 367 638 1,637 U.S. Treasury, general account 4,614 0 4,614 0 0 0 0 0 0 0 0 0 0 Foreign official 97 2 67 4 3 11 3 2 0 1 0 1 3 Other 315 20 179 1 1 100 0 0 13 0 1 0 0 Deferred availability cash items 4,396 183 0 492 1,060 311 289 341 67 310 463 297 585 Other liabilities and accrued dividends (2) 4,356 171 1,816 183 191 461 350 300 148 107 130 176 323 Total liabilities 844,692 35,140 306,848 36,457 34,492 70,674 85,171 75,538 29,320 17,339 31,118 33,934 88,660 Capital Capital paid in 19,585 1,087 4,903 1,838 1,337 5,174 1,611 1,259 182 315 199 256 1,424 Surplus 18,471 1,050 4,637 1,814 1,291 4,997 1,425 815 180 355 194 364 1,350 Other capital 1,977 73 562 47 70 292 252 494 20 18 20 25 105 Total liabilities and capital 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. 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 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 pledged (1) 612,170 Other assets pledged 152,104 Memo: Total U.S. Treasury and agency securities (1) 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.