FEDERAL RESERVE Statistical Release H.4.1 Factors Affecting Reserve Balances of Depository Institutions and Condition Statement of Federal Reserve Banks March 15, 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 Mar 14, 2007 Mar 7, 2007 Mar 15, 2006 Mar 14, 2007 Federal Reserve Banks Reserve Bank Credit 851,593 - 164 + 31,542 861,824 Securities held outright 780,833 + 24 + 24,216 780,842 U.S. Treasury (1) 780,833 + 24 + 24,216 780,842 Bills (2) 277,019 0 + 2,877 277,019 Notes and bonds, nominal (2) 468,553 0 + 11,533 468,553 Notes and bonds, inflation-indexed (2) 31,776 0 + 9,516 31,776 Inflation compensation (3) 3,485 + 24 + 291 3,494 Federal agency (2) 0 0 0 0 Repurchase agreements(4) 32,786 - 571 + 4,250 43,000 Loans to depository institutions 53 + 21 - 6 27 Primary credit 5 - 3 - 5 0 Secondary credit 21 + 21 + 21 0 Seasonal credit 28 + 4 - 21 27 Float -700 - 7 - 1,385 -966 Other Federal Reserve assets 38,621 + 369 + 4,466 38,921 Gold stock 11,041 0 - 3 11,041 Special drawing rights certificate account 2,200 0 0 2,200 Treasury currency outstanding (5) 38,338 + 14 + 498 38,338 Total factors supplying reserve funds 903,172 - 150 + 32,038 913,403 Currency in circulation(5) 806,712 - 172 + 16,963 807,904 Reverse repurchase agreements (6) 37,338 - 1,291 + 12,739 39,727 Foreign official and international accounts 37,338 - 1,291 + 12,739 39,727 Dealers 0 0 0 0 Treasury cash holdings 219 + 14 + 25 231 Deposits with F.R.Banks, other than reserve balances 12,120 + 342 - 848 12,131 U.S. Treasury, general account 5,038 + 313 + 559 5,113 Foreign official 116 + 24 + 17 90 Service-related 6,689 0 - 1,456 6,689 Required clearing balances 6,689 0 - 1,456 6,689 Adjustments to compensate for float 0 0 0 0 Other 278 + 7 + 33 240 Other liabilities and capital 38,706 + 51 + 6,109 38,370 Total factors, other than reserve balances, absorbing reserve funds 895,096 - 1,055 + 34,989 898,363 Reserve balances with Federal Reserve Banks 8,076 + 906 - 2,951 15,040 Memo (off-balance-sheet items): Marketable securities held in custody for foreign official and international accounts(2,7) 1,859,773 + 11,369 + 264,807 1,870,905 U.S. Treasury 1,213,730 + 3,860 + 80,157 1,217,026 Federal agency 646,043 + 7,509 + 184,650 653,879 Securities lent to dealers 2,273 + 68 - 1,750 2,357 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 Mar 14, 2007 Mar 7, 2007 Mar 15, 2006 Assets Gold certificate account 11,037 0 - 3 Special drawing rights certificate account 2,200 0 0 Coin 952 - 25 + 153 Securities, repurchase agreements, and loans 823,869 + 11,758 + 36,846 Securities held outright 780,842 + 24 + 23,629 U.S. Treasury (1) 780,842 + 24 + 23,629 Bills (2) 277,019 0 + 2,877 Notes and bonds, nominal (2) 468,553 0 + 11,376 Notes and bonds, inflation-indexed (2) 31,776 0 + 9,130 Inflation compensation (3) 3,494 + 24 + 247 Federal agency (2) 0 0 0 Repurchase agreements (4) 43,000 + 11,750 + 13,250 Loans 27 - 16 - 33 Items in process of collection (760) 2,990 - 592 - 3,535 Bank premises 1,969 0 + 147 Other assets (5) 36,969 + 468 + 218 Total assets (760) 879,986 + 11,610 + 33,826 Liabilities Federal Reserve notes net of FR Bank holdings 770,745 - 110 + 16,859 Reverse repurchase agreements (6) 39,727 + 1,939 + 15,434 Deposits (0) 27,188 + 10,383 - 2,113 Depository institutions 21,746 + 9,736 - 4,300 U.S. Treasury, general account 5,113 + 664 + 2,269 Foreign official 90 - 6 - 60 Other (0) 240 - 10 - 21 Deferred availability cash items (760) 3,956 - 666 - 2,282 Other liabilities and accrued dividends (7) 5,804 + 3 + 1,296 Total liabilities (760) 847,420 + 11,550 + 29,195 Capital Accounts Capital paid in 15,823 - 137 + 2,118 Surplus 15,339 + 23 + 2,438 Other capital accounts 1,404 + 174 + 76 Total capital 32,566 + 60 + 4,631 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, March 14, 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 5 52,120 - 1,149 0 0 43,000 39,727 16 days to 90 days 21 180,565 + 1,072 0 0 0 0 91 days to 1 year 0 174,534 + 79 0 0 ------ ------ Over 1 to 5 years ------ 224,570 + 6 0 0 ------ ------ Over 5 to 10 years ------ 66,539 + 6 0 0 ------ ------ Over 10 years ------ 82,514 + 10 0 0 ------ ------ All 27 780,842 + 24 0 0 43,000 39,727 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 March 14, 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 11,037 486 4,139 463 446 853 1,023 947 328 211 324 575 1,242 Special drawing rights certificate acct. 2,200 115 874 83 104 147 166 212 71 30 66 98 234 Coin 952 38 61 64 99 92 101 115 39 39 70 91 142 Securities, repurchase agreements, and loans 823,869 39,318 304,926 35,768 35,573 68,437 68,969 75,656 26,175 16,757 24,126 36,973 91,191 Securities held outright 780,842 37,261 289,011 33,901 33,717 64,865 65,370 71,697 24,809 15,874 22,865 35,043 86,432 U.S. Treasury (1) 780,842 37,261 289,011 33,901 33,717 64,865 65,370 71,697 24,809 15,874 22,865 35,043 86,432 Bills (2) 277,019 13,219 102,532 12,027 11,962 23,012 23,191 25,436 8,801 5,632 8,112 12,432 30,663 Notes and bonds(3) 503,823 24,042 186,479 21,874 21,755 41,853 42,178 46,261 16,007 10,242 14,753 22,611 55,768 Federal agency (2) 0 0 0 0 0 0 0 0 0 0 0 0 0 Repurchase agreements(4) 43,000 2,052 15,915 1,867 1,857 3,572 3,600 3,948 1,366 874 1,259 1,930 4,760 Loans 27 5 0 0 0 0 0 11 0 9 2 0 0 Items in process of collection 3,750 149 84 495 293 415 174 269 99 199 482 288 803 Bank premises 1,969 117 210 57 157 170 231 206 81 116 178 259 187 Other assets(5) 36,969 1,248 11,543 3,147 2,160 6,936 3,051 2,508 730 694 678 971 3,304 Interdistrict settlement account 0 - 3,010 - 4,653 - 2,160 - 4,285 + 312 +13,238 - 5,084 + 532 - 996 + 3,383 + 1,369 + 1,353 Total Assets 880,746 38,461 317,184 37,917 34,548 77,361 86,953 74,829 28,055 17,049 29,307 40,625 98,457 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 March 14, 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 963,864 38,862 340,752 37,944 35,972 74,646 105,853 82,056 29,372 17,322 30,771 56,951 113,362 Less: notes held by F.R. Banks 193,118 4,456 63,506 6,778 7,628 13,152 27,321 14,965 3,658 2,495 4,089 20,072 24,998 Federal Reserve notes, net 770,745 34,406 277,246 31,166 28,345 61,494 78,533 67,091 25,714 14,827 26,682 36,879 88,364 Reverse repurchase agreements (1) 39,727 1,896 14,704 1,725 1,715 3,300 3,326 3,648 1,262 808 1,163 1,783 4,397 Deposits 27,188 773 14,554 450 1,607 3,208 1,477 1,473 371 348 443 779 1,704 Depository institutions 21,746 765 9,227 445 1,603 3,135 1,473 1,470 359 347 442 778 1,701 U.S. Treasury, general account 5,113 0 5,113 0 0 0 0 0 0 0 0 0 0 Foreign official 90 1 60 5 3 11 3 2 0 1 0 1 3 Other 240 7 155 0 1 62 0 0 12 0 1 0 0 Deferred availability cash items 4,716 291 84 659 380 528 479 301 131 262 453 337 811 Other liabilities and accrued dividends (2) 5,804 266 1,862 277 284 675 512 523 217 156 187 282 562 Total liabilities 848,180 37,631 308,451 34,277 32,332 69,206 84,326 73,035 27,695 16,401 28,928 40,059 95,839 Capital Capital paid in 15,823 395 4,219 1,810 1,090 3,972 1,279 863 168 317 179 266 1,266 Surplus 15,339 396 3,738 1,810 1,087 4,094 1,276 859 166 276 176 212 1,247 Other capital 1,404 38 776 20 40 89 72 72 25 56 24 88 104 Total liabilities and capital 880,746 38,461 317,184 37,917 34,548 77,361 86,953 74,829 28,055 17,049 29,307 40,625 98,457 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 Mar 14, 2007 Federal Reserve notes outstanding 963,864 Less: Notes held by F.R. Banks not subject to collateralization 193,118 Federal Reserve Notes to be collateralized 770,745 Collateral held against Federal Reserve notes 770,745 Gold certificate account 11,037 Special drawing rights certificate account 2,200 U.S. Treasury and agency securities pledged (1) 757,509 Other assets pledged 0 Memo: Total U.S. Treasury and agency securities (1) 823,842 Less:face value of securities under reverse repurchase agreements 39,802 U.S. Treasury and agency securities eligible to be pledged 784,040 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.