FEDERAL RESERVE Statistical Release H.4.1 Factors Affecting Reserve Balances of Depository Institutions and Condition Statement of Federal Reserve Banks April 24, 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 23, 2008 Apr 16, 2008 Apr 25, 2007 Apr 23, 2008 Federal Reserve Banks Reserve Bank credit 868,439 + 1,245 + 18,592 868,853 Securities held outright 548,651 + 29 - 236,136 548,661 U.S. Treasury (1) 548,651 + 29 - 236,136 548,661 Bills (2) 70,317 0 - 206,702 70,317 Notes and bonds, nominal (2) 435,051 0 - 36,663 435,051 Notes and bonds, inflation-indexed (2) 38,437 0 + 6,101 38,437 Inflation compensation (3) 4,846 + 29 + 1,127 4,857 Federal agency (2) 0 0 0 0 Repurchase agreements (4) 107,786 + 822 + 82,822 109,500 Term auction credit 100,000 0 + 100,000 100,000 Other loans 33,390 + 727 + 33,275 32,043 Primary credit 10,731 + 2,890 + 10,670 13,462 Secondary credit 0 0 0 0 Seasonal credit 26 + 8 - 29 25 Primary dealer credit facility 22,634 - 2,170 + 22,634 18,555 Other credit extensions 0 0 0 0 Float -1,854 - 416 - 907 -2,169 Other Federal Reserve assets 80,466 + 83 + 39,539 80,818 Gold stock 11,041 0 0 11,041 Special drawing rights certificate account 2,200 0 0 2,200 Treasury currency outstanding (5) 38,778 + 14 + 375 38,778 Total factors supplying reserve funds 920,457 + 1,259 + 18,965 920,872 Currency in circulation (5) 812,889 - 1,075 + 5,688 813,679 Reverse repurchase agreements (6) 40,046 - 1 + 5,966 39,912 Foreign official and international accounts 40,046 - 1 + 5,966 39,912 Dealers 0 0 0 0 Treasury cash holdings 351 - 6 + 46 322 Deposits with F.R. Banks, other than reserve balances 13,000 + 688 - 448 13,142 U.S. Treasury, general account 5,437 + 692 - 1,097 5,570 Foreign official 102 + 5 + 10 118 Service-related 7,151 - 3 + 595 7,151 Required clearing balances 7,151 - 3 + 595 7,151 Adjustments to compensate for float 0 0 0 0 Other 310 - 6 + 44 302 Other liabilities and capital 44,017 - 940 + 4,976 43,789 Total factors, other than reserve balances, absorbing reserve funds 910,303 - 1,334 + 16,229 910,843 Reserve balances with Federal Reserve Banks 10,154 + 2,592 + 2,736 10,029 Memo (off-balance-sheet items): Marketable securities held in custody for foreign official and international accounts (2,7) 2,252,954 + 12,651 + 334,832 2,254,015 U.S. Treasury 1,331,610 + 3,975 + 103,593 1,327,918 Federal agency 921,344 + 8,676 + 231,239 926,097 Securities lent to dealers 169,680 + 31,263 + 167,022 175,907 Overnight facility (8) 14,302 + 4,985 + 11,644 16,958 Term facility (9) 155,378 + 26,278 + 155,378 158,949 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 23, 2008 Apr 16, 2008 Apr 25, 2007 Assets Gold certificate account 11,037 0 0 Special drawing rights certificate account 2,200 0 0 Coin 1,422 + 41 + 403 Securities, repurchase agreements, term auction credit, and other loans 790,204 + 2,814 - 35,002 Securities held outright 548,661 + 29 - 238,488 U.S. Treasury (1) 548,661 + 29 - 238,488 Bills (2) 70,317 0 - 206,702 Notes and bonds, nominal (2) 435,051 0 - 39,008 Notes and bonds, inflation-indexed (2) 38,437 0 + 6,101 Inflation compensation (3) 4,857 + 30 + 1,121 Federal agency (2) 0 0 0 Repurchase agreements (4) 109,500 + 5,250 + 71,500 Term auction credit 100,000 0 + 100,000 Other loans 32,043 - 2,465 + 31,986 Items in process of collection (702) 2,209 + 729 - 498 Bank premises 2,146 + 3 + 156 Other assets (5) 78,591 + 18 + 39,289 Total assets (702) 887,810 + 3,607 + 4,349 Liabilities Federal Reserve notes, net of FR Bank holdings 776,641 - 870 + 5,210 Reverse repurchase agreements (6) 39,912 - 747 + 5,887 Deposits (0) 23,090 + 5,321 - 11,892 Depository institutions 17,100 + 4,357 - 5,266 U.S. Treasury, general account 5,570 + 956 - 6,680 Foreign official 118 + 21 + 26 Other (0) 302 - 13 + 28 Deferred availability cash items (702) 4,378 + 503 - 154 Other liabilities and accrued dividends (7) 4,158 - 198 - 1,679 Total liabilities (702) 848,179 + 4,009 - 2,628 Capital Accounts Capital paid in 19,603 + 18 + 3,731 Surplus 18,472 + 1 + 3,110 Other capital accounts 1,557 - 420 + 138 Total capital 39,631 - 402 + 6,978 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 23, 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 100,000 21,933 22,157 - 2,468 69,500 39,912 16 days to 90 days 0 10,109 50,884 + 2,990 40,000 0 91 days to 1 year --- 0 99,437 - 520 --- --- Over 1 to 5 years --- --- 195,977 + 9 --- --- Over 5 to 10 years --- --- 85,907 + 6 --- --- Over 10 years --- --- 94,299 + 12 --- --- All 100,000 32,043 548,661 + 29 109,500 39,912 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 23, 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 11,037 424 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 1,422 48 66 108 136 162 162 167 57 64 93 154 205 Securities, repurchase agreements, term auction credit, and other loans 790,204 28,606 341,026 28,774 30,637 67,086 70,482 59,427 24,100 12,507 24,259 27,302 75,997 Securities held outright 548,661 23,013 195,210 23,955 20,805 49,752 54,591 48,425 18,960 10,358 20,146 22,759 60,688 U.S. Treasury (1) 548,661 23,013 195,210 23,955 20,805 49,752 54,591 48,425 18,960 10,358 20,146 22,759 60,688 Bills (2) 70,317 2,949 25,018 3,070 2,666 6,376 6,996 6,206 2,430 1,328 2,582 2,917 7,778 Notes and bonds (3) 478,344 20,064 170,192 20,885 18,139 43,375 47,594 42,218 16,530 9,031 17,564 19,842 52,910 Federal agency (2) 0 0 0 0 0 0 0 0 0 0 0 0 0 Repurchase agreements (4) 109,500 4,593 38,959 4,781 4,152 9,929 10,895 9,664 3,784 2,067 4,021 4,542 12,112 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 32,043 0 28,535 38 1,755 250 28 613 307 1 12 1 500 Items in process of collection 2,911 57 0 301 329 54 265 184 25 221 813 224 438 Bank premises 2,146 119 214 65 152 192 228 205 121 112 277 255 208 Other assets (5) 78,591 4,167 22,150 6,787 4,952 18,227 6,297 4,057 1,154 1,494 1,236 1,873 6,198 Interdistrict settlement account 0 + 4,027 -48,597 + 3,121 + 680 - 6,273 +12,628 +12,633 + 3,568 + 3,047 + 5,040 + 4,023 + 6,102 Total Assets 888,512 37,563 319,668 39,692 37,413 80,485 91,450 77,798 29,440 17,675 32,132 34,565 90,631 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 23, 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 983,589 38,274 339,870 41,293 39,128 78,424 116,100 84,322 31,564 18,427 32,079 56,030 108,079 Less: notes held by F.R. Banks 206,949 5,822 57,839 7,968 8,319 14,303 34,427 14,659 4,495 2,847 3,680 25,004 27,585 Federal Reserve notes, net 776,641 32,452 282,031 33,325 30,809 64,121 81,673 69,663 27,069 15,580 28,398 31,026 80,494 Reverse repurchase agreements (1) 39,912 1,674 14,200 1,743 1,513 3,619 3,971 3,523 1,379 753 1,465 1,656 4,415 Deposits 23,090 896 11,900 333 1,023 1,708 1,899 1,437 344 256 502 764 2,027 Depository institutions 17,100 884 6,065 329 1,019 1,597 1,896 1,435 331 255 501 763 2,024 U.S. Treasury, general account 5,570 0 5,570 0 0 0 0 0 0 0 0 0 0 Foreign official 118 2 88 4 3 11 3 2 0 1 0 1 3 Other 302 10 177 0 1 100 0 0 13 0 1 0 0 Deferred availability cash items 5,080 194 0 415 1,198 239 280 315 116 303 1,216 312 492 Other liabilities and accrued dividends (2) 4,158 164 1,564 192 189 472 376 310 154 107 137 173 318 Total liabilities 848,880 35,381 309,696 36,008 34,732 70,159 88,199 75,248 29,063 17,001 31,719 33,930 87,746 Capital Capital paid in 19,603 1,087 4,903 1,851 1,340 5,174 1,611 1,260 182 315 198 256 1,424 Surplus 18,472 1,050 4,637 1,814 1,291 4,997 1,425 815 180 355 194 364 1,350 Other capital 1,557 45 433 20 49 154 214 475 16 4 21 15 110 Total liabilities and capital 888,512 37,563 319,668 39,692 37,413 80,485 91,450 77,798 29,440 17,675 32,132 34,565 90,631 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 23, 2008 Federal Reserve notes outstanding 983,589 Less: Notes held by F.R. Banks not subject to collateralization 206,949 Federal Reserve notes to be collateralized 776,641 Collateral held against Federal Reserve notes 776,641 Gold certificate account 11,037 Special drawing rights certificate account 2,200 U.S. Treasury and agency securities pledged (1) 618,188 Other assets pledged 145,216 Memo: Total U.S. Treasury and agency securities (1) 658,161 Less: face value of securities under reverse repurchase agreements 39,974 U.S. Treasury and agency securities eligible to be pledged 618,188 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.