FEDERAL RESERVE Statistical Release H.4.1 Factors Affecting Reserve Balances of Depository Institutions and Condition Statement of Federal Reserve Banks May 17, 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 16, 2007 May 9, 2007 May 17, 2006 May 16, 2007 Federal Reserve Banks Reserve Bank Credit 847,847 - 5,658 + 23,183 845,447 Securities held outright 790,074 + 278 + 29,897 790,103 U.S. Treasury (1) 790,074 + 278 + 29,897 790,103 Bills (2) 277,019 0 + 1,649 277,019 Notes and bonds, nominal (2) 474,672 + 199 + 15,979 474,672 Notes and bonds, inflation-indexed (2) 34,459 0 + 11,813 34,459 Inflation compensation (3) 3,925 + 79 + 457 3,953 Federal agency (2) 0 0 0 0 Repurchase agreements(4) 18,036 - 4,785 - 5,714 18,000 Loans to depository institutions 84 + 9 - 84 93 Primary credit 2 - 3 - 18 7 Secondary credit 0 0 0 0 Seasonal credit 82 + 12 - 67 86 Float -1,055 - 577 - 795 -1,153 Other Federal Reserve assets 40,708 - 581 - 120 38,403 Gold stock 11,041 0 0 11,041 Special drawing rights certificate account 2,200 0 0 2,200 Treasury currency outstanding (5) 38,455 + 14 + 497 38,455 Total factors supplying reserve funds 899,544 - 5,643 + 23,681 897,143 Currency in circulation(5) 809,072 + 376 + 15,097 810,170 Reverse repurchase agreements (6) 32,298 - 3,721 + 8,641 32,446 Foreign official and international accounts 32,084 - 3,935 + 8,427 32,446 Dealers 214 + 214 + 214 0 Treasury cash holdings 236 - 33 + 55 263 Deposits with F.R.Banks, other than reserve balances 11,298 - 487 - 1,672 10,966 U.S. Treasury, general account 4,451 - 463 - 741 4,125 Foreign official 94 + 1 - 11 93 Service-related 6,470 - 39 - 896 6,470 Required clearing balances 6,470 - 39 - 896 6,470 Adjustments to compensate for float 0 0 0 0 Other 284 + 16 - 24 279 Other liabilities and capital 38,981 + 180 + 5,084 38,569 Total factors, other than reserve balances, absorbing reserve funds 891,886 - 3,683 + 27,206 892,414 Reserve balances with Federal Reserve Banks 7,658 - 1,960 - 3,525 4,729 Memo (off-balance-sheet items): Marketable securities held in custody for foreign official and international accounts(2,7) 1,939,970 + 8,838 + 315,555 1,937,394 U.S. Treasury 1,224,733 - 3,299 + 99,679 1,219,345 Federal agency 715,237 + 12,137 + 215,876 718,049 Securities lent to dealers 3,524 + 480 + 1,924 7,437 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 16, 2007 May 9, 2007 May 17, 2006 Assets Gold certificate account 11,037 0 0 Special drawing rights certificate account 2,200 0 0 Coin 949 - 67 + 182 Securities, repurchase agreements, and loans 808,196 - 10,911 + 26,867 Securities held outright 790,103 + 78 + 30,452 U.S. Treasury (1) 790,103 + 78 + 30,452 Bills (2) 277,019 0 + 1,649 Notes and bonds, nominal (2) 474,672 0 + 16,517 Notes and bonds, inflation-indexed (2) 34,459 0 + 11,813 Inflation compensation (3) 3,953 + 78 + 473 Federal agency (2) 0 0 0 Repurchase agreements (4) 18,000 - 11,000 - 3,500 Loans 93 + 11 - 85 Items in process of collection (819) 2,523 - 1,621 - 4,751 Bank premises 2,005 - 1 + 169 Other assets (5) 36,417 - 3,072 - 508 Total assets (819) 863,326 - 15,672 + 21,958 Liabilities Federal Reserve notes net of FR Bank holdings 772,923 - 356 + 14,954 Reverse repurchase agreements (6) 32,446 - 2,964 + 9,877 Deposits (0) 15,714 - 11,869 - 6,044 Depository institutions 11,218 - 11,285 - 5,095 U.S. Treasury, general account 4,125 - 601 - 930 Foreign official 93 0 + 8 Other (0) 279 + 18 - 25 Deferred availability cash items (819) 3,675 - 504 - 2,349 Other liabilities and accrued dividends (7) 5,894 - 12 + 1,154 Total liabilities (819) 830,652 - 15,706 + 17,593 Capital Accounts Capital paid in 15,983 + 92 + 2,124 Surplus 15,374 0 + 2,473 Other capital accounts 1,317 - 58 - 232 Total capital 32,675 + 35 + 4,366 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 16, 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 37 66,840 - 1,517 0 0 18,000 32,446 16 days to 90 days 56 153,859 - 9,023 0 0 0 0 91 days to 1 year 0 183,320 + 12,488 0 0 ------ ------ Over 1 to 5 years ------ 229,466 - 8,271 0 0 ------ ------ Over 5 to 10 years ------ 66,941 + 20 0 0 ------ ------ Over 10 years ------ 89,676 + 6,380 0 0 ------ ------ All 93 790,103 + 78 0 0 18,000 32,446 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 16, 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 949 39 61 61 97 88 104 113 42 41 73 90 139 Securities, repurchase agreements, and loans 808,196 37,249 292,612 35,751 33,070 70,021 74,952 67,817 25,842 16,135 26,172 35,507 93,070 Securities held outright 790,103 36,413 286,094 34,954 32,334 68,456 73,280 66,271 25,252 15,764 25,576 34,714 90,993 U.S. Treasury (1) 790,103 36,413 286,094 34,954 32,334 68,456 73,280 66,271 25,252 15,764 25,576 34,714 90,993 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) 513,084 23,646 185,786 22,699 20,997 44,455 47,587 43,036 16,399 10,237 16,609 22,543 59,090 Federal agency (2) 0 0 0 0 0 0 0 0 0 0 0 0 0 Repurchase agreements(4) 18,000 830 6,518 796 737 1,560 1,669 1,510 575 359 583 791 2,073 Loans 93 7 0 0 0 5 2 36 15 11 13 2 4 Items in process of collection 3,342 171 35 326 512 270 377 229 82 174 352 21 794 Bank premises 2,005 117 212 57 156 172 232 206 88 115 201 260 190 Other assets(5) 36,417 1,203 11,254 3,121 2,118 6,946 3,078 2,343 724 686 705 934 3,304 Interdistrict settlement account 0 - 2,117 - 1,827 - 1,025 - 4,512 + 525 + 6,229 + 829 + 707 - 673 + 1,397 + 1,927 - 1,459 Total Assets 864,146 37,227 307,273 38,829 31,974 79,037 86,255 72,652 27,882 16,710 29,301 39,450 97,557 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 16, 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 969,227 38,005 341,541 39,042 35,873 78,316 108,154 80,644 29,438 17,305 30,503 57,718 112,688 Less: notes held by F.R. Banks 196,305 4,373 62,743 6,794 8,843 13,204 29,911 14,455 3,618 2,553 3,728 21,571 24,512 Federal Reserve notes, net 772,923 33,632 278,798 32,248 27,030 65,112 78,244 66,189 25,820 14,752 26,775 36,147 88,176 Reverse repurchase agreements (1) 32,446 1,495 11,749 1,435 1,328 2,811 3,009 2,721 1,037 647 1,050 1,426 3,737 Deposits 15,714 748 6,069 541 719 1,912 1,245 1,159 338 251 418 656 1,657 Depository institutions 11,218 738 1,704 536 715 1,823 1,241 1,157 328 251 416 656 1,654 U.S. Treasury, general account 4,125 0 4,125 0 0 0 0 0 0 0 0 0 0 Foreign official 93 1 62 5 3 11 3 2 0 1 0 1 3 Other 279 9 178 0 1 78 0 0 10 0 1 0 0 Deferred availability cash items 4,495 256 68 669 440 327 495 276 106 258 475 361 763 Other liabilities and accrued dividends (2) 5,894 258 1,834 292 278 772 561 481 214 154 199 274 577 Total liabilities 831,471 36,390 298,517 35,186 29,795 70,934 83,554 70,827 27,515 16,062 28,917 38,863 94,910 Capital Capital paid in 15,983 403 4,281 1,808 1,066 3,975 1,318 887 172 318 183 278 1,294 Surplus 15,374 396 3,771 1,810 1,087 4,095 1,276 859 166 276 176 213 1,247 Other capital 1,317 38 704 25 25 33 106 79 28 54 24 95 106 Total liabilities and capital 864,146 37,227 307,273 38,829 31,974 79,037 86,255 72,652 27,882 16,710 29,301 39,450 97,557 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 16, 2007 Federal Reserve notes outstanding 969,227 Less: Notes held by F.R. Banks not subject to collateralization 196,305 Federal Reserve Notes to be collateralized 772,923 Collateral held against Federal Reserve notes 772,923 Gold certificate account 11,037 Special drawing rights certificate account 2,200 U.S. Treasury and agency securities pledged (1) 759,686 Other assets pledged 0 Memo: Total U.S. Treasury and agency securities (1) 808,103 Less:face value of securities under reverse repurchase agreements 32,490 U.S. Treasury and agency securities eligible to be pledged 775,614 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.