FEDERAL RESERVE Statistical Release H.4.1 Factors Affecting Reserve Balances of Depository Institutions and Condition Statement of Federal Reserve Banks December 20, 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 Dec 19, 2007 Dec 12, 2007 Dec 20, 2006 Dec 19, 2007 Federal Reserve Banks Reserve Bank Credit 870,930 + 7,157 + 25,466 872,803 Securities held outright 769,748 - 4,980 - 7,182 769,755 U.S. Treasury (1) 769,748 - 4,980 - 7,182 769,755 Bills (2) 257,019 - 5,000 - 20,000 257,019 Notes and bonds, nominal (2) 470,984 0 + 5,186 470,984 Notes and bonds, inflation-indexed (2) 36,911 0 + 6,806 36,911 Inflation compensation (3) 4,834 + 20 + 826 4,842 Federal agency (2) 0 0 0 0 Repurchase agreements(4) 55,750 + 10,107 + 26,821 57,750 Loans to depository institutions 4,619 + 1,572 + 4,427 4,765 Primary credit 4,586 + 1,577 + 4,479 4,735 Secondary credit 0 - 3 0 0 Seasonal credit 32 - 4 - 53 31 Float -369 + 413 - 1,266 -670 Other Federal Reserve assets 41,183 + 46 + 2,666 41,203 Gold stock 11,041 0 0 11,041 Special drawing rights certificate account 2,200 0 0 2,200 Treasury currency outstanding (5) 38,793 + 14 + 602 38,793 Total factors supplying reserve funds 922,964 + 7,171 + 26,067 924,838 Currency in circulation(5) 819,571 + 1,276 + 10,920 823,138 Reverse repurchase agreements (6) 37,089 - 883 + 7,548 36,430 Foreign official and international accounts 37,089 - 883 + 7,548 36,430 Dealers 0 0 0 0 Treasury cash holdings 247 - 9 + 43 246 Deposits with F.R.Banks, other than reserve balances 14,475 + 2,718 + 1,046 11,540 U.S. Treasury, general account 7,500 + 2,669 + 1,434 4,586 Foreign official 104 + 7 + 9 96 Service-related 6,598 + 45 - 425 6,598 Required clearing balances 6,541 0 - 475 6,541 Adjustments to compensate for float 57 + 44 + 50 57 Other 272 - 3 + 27 260 Other liabilities and capital 42,809 - 255 + 6,383 42,403 Total factors, other than reserve balances, absorbing reserve funds 914,190 + 2,847 + 25,939 913,757 Reserve balances with Federal Reserve Banks 8,775 + 4,324 + 130 11,080 Memo (off-balance-sheet items): Marketable securities held in custody for foreign official and international accounts(2,7) 2,047,895 + 7,592 + 305,793 2,047,648 U.S. Treasury 1,224,633 - 3,981 + 68,034 1,221,665 Federal agency 823,262 + 11,574 + 237,760 825,983 Securities lent to dealers 10,752 + 2,833 + 9,789 8,449 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 Dec 19, 2007 Dec 12, 2007 Dec 20, 2006 Assets Gold certificate account 11,037 0 0 Special drawing rights certificate account 2,200 0 0 Coin 1,198 - 11 + 377 Securities, repurchase agreements, and loans 832,271 + 5,239 + 21,042 Securities held outright 769,755 - 4,980 - 7,883 U.S. Treasury (1) 769,755 - 4,980 - 7,883 Bills (2) 257,019 - 5,000 - 20,000 Notes and bonds, nominal (2) 470,984 0 + 4,462 Notes and bonds, inflation-indexed (2) 36,911 0 + 6,806 Inflation compensation (3) 4,842 + 21 + 849 Federal agency (2) 0 0 0 Repurchase agreements (4) 57,750 + 10,000 + 24,250 Loans 4,765 + 218 + 4,675 Items in process of collection (709) 3,385 + 972 - 1,429 Bank premises 2,124 + 4 + 193 Other assets (5) 39,061 - 26 + 2,148 Total assets (709) 891,276 + 6,179 + 22,332 Liabilities Federal Reserve notes net of FR Bank holdings 785,785 + 3,272 + 9,876 Reverse repurchase agreements (6) 36,430 - 1,334 + 6,527 Deposits (0) 22,602 + 3,991 + 330 Depository institutions 17,661 + 3,772 + 1,172 U.S. Treasury, general account 4,586 + 253 - 850 Foreign official 96 - 1 + 7 Other (0) 260 - 32 + 2 Deferred availability cash items (709) 4,055 + 670 - 412 Other liabilities and accrued dividends (7) 5,860 - 87 - 89 Total liabilities (709) 854,733 + 6,513 + 16,234 Capital Accounts Capital paid in 18,217 - 65 + 2,891 Surplus 15,460 - 1 + 4,906 Other capital accounts 2,867 - 266 - 1,698 Total capital 36,543 - 334 + 6,098 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, December 19, 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 265 48,814 + 2,703 0 0 49,750 36,430 16 days to 90 days 4,500 153,854 - 8,842 0 0 8,000 0 91 days to 1 year 0 162,951 + 2,463 0 0 ------ ------ Over 1 to 5 years ------ 233,394 - 1,315 0 0 ------ ------ Over 5 to 10 years ------ 81,942 + 4 0 0 ------ ------ Over 10 years ------ 88,801 + 8 0 0 ------ ------ All 4,765 769,755 - 4,980 0 0 57,750 36,430 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 December 19, 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 1,198 38 56 90 112 139 157 138 52 46 73 130 166 Securities, repurchase agreements, and loans 832,271 38,362 304,138 36,614 33,864 71,697 76,749 69,413 26,448 16,518 26,801 36,360 95,306 Securities held outright 769,755 35,475 278,726 34,054 31,501 66,693 71,393 64,565 24,602 15,358 24,918 33,820 88,650 U.S. Treasury (1) 769,755 35,475 278,726 34,054 31,501 66,693 71,393 64,565 24,602 15,358 24,918 33,820 88,650 Bills (2) 257,019 11,845 93,066 11,371 10,518 22,269 23,838 21,558 8,215 5,128 8,320 11,293 29,600 Notes and bonds(3) 512,736 23,630 185,660 22,684 20,983 44,425 47,555 43,007 16,388 10,230 16,598 22,528 59,050 Federal agency (2) 0 0 0 0 0 0 0 0 0 0 0 0 0 Repurchase agreements(4) 57,750 2,661 20,911 2,555 2,363 5,004 5,356 4,844 1,846 1,152 1,869 2,537 6,651 Loans 4,765 226 4,501 5 0 0 0 5 0 7 14 3 5 Items in process of collection 4,094 108 67 343 1,204 188 185 235 108 248 679 162 567 Bank premises 2,124 119 215 64 154 181 230 204 110 113 264 257 214 Other assets(5) 39,061 1,287 12,055 3,374 2,265 7,460 3,300 2,526 752 728 766 999 3,549 Interdistrict settlement account 0 - 2,308 - 6,882 - 74 - 625 + 4,761 - 854 + 5,954 + 3,663 + 827 + 3,775 - 2,698 - 5,540 Total Assets 891,985 38,171 314,574 40,950 37,507 85,441 81,050 79,585 31,529 18,713 32,760 35,922 95,783 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 December 19, 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 1,014,232 39,332 357,705 42,109 39,690 81,451 109,388 87,113 33,349 19,434 33,726 57,653 113,282 Less: notes held by F.R. Banks 228,447 6,253 76,445 8,156 7,915 14,542 36,948 14,611 4,033 3,012 3,538 25,255 27,739 Federal Reserve notes, net 785,785 33,079 281,261 33,953 31,775 66,909 72,440 72,501 29,316 16,423 30,188 32,398 85,542 Reverse repurchase agreements (1) 36,430 1,679 13,191 1,612 1,491 3,156 3,379 3,056 1,164 727 1,179 1,601 4,196 Deposits 22,602 977 9,069 672 1,113 4,100 1,393 1,469 362 334 372 678 2,063 Depository institutions 17,661 966 4,246 667 1,109 4,027 1,390 1,466 350 334 370 677 2,059 U.S. Treasury, general account 4,586 0 4,586 0 0 0 0 0 0 0 0 0 0 Foreign official 96 1 66 5 3 11 3 2 0 1 0 1 3 Other 260 10 172 1 2 62 0 0 12 0 2 0 0 Deferred availability cash items 4,764 245 141 807 552 375 426 375 105 361 439 233 707 Other liabilities and accrued dividends (2) 5,860 261 1,698 283 272 975 557 455 206 155 191 265 542 Total liabilities 855,442 36,241 305,360 37,327 35,203 75,515 78,195 77,856 31,154 17,999 32,369 35,173 93,050 Capital Capital paid in 18,217 1,049 4,538 1,814 1,154 4,996 1,420 819 180 354 190 362 1,339 Surplus 15,460 396 3,845 1,810 1,088 4,099 1,279 861 167 276 176 215 1,248 Other capital 2,867 485 832 0 61 831 156 50 28 83 24 171 146 Total liabilities and capital 891,985 38,171 314,574 40,950 37,507 85,441 81,050 79,585 31,529 18,713 32,760 35,922 95,783 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 Dec 19, 2007 Federal Reserve notes outstanding 1,014,232 Less: Notes held by F.R. Banks not subject to collateralization 228,447 Federal Reserve Notes to be collateralized 785,785 Collateral held against Federal Reserve notes 785,785 Gold certificate account 11,037 Special drawing rights certificate account 2,200 U.S. Treasury and agency securities pledged (1) 772,548 Other assets pledged 0 Memo: Total U.S. Treasury and agency securities (1) 827,505 Less:face value of securities under reverse repurchase agreements 36,470 U.S. Treasury and agency securities eligible to be pledged 791,035 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.