FEDERAL RESERVE Statistical Release H.4.1 Factors Affecting Reserve Balances of Depository Institutions and Condition Statement of Federal Reserve Banks February 21, 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 Feb 20, 2008 Feb 13, 2008 Feb 21, 2007 Feb 20, 2008 Federal Reserve Banks Reserve Bank Credit 866,859 + 8,524 + 15,145 862,797 Securities held outright 713,364 - 8 - 65,534 713,362 U.S. Treasury (1) 713,364 - 8 - 65,534 713,362 Bills (2) 200,360 0 - 76,659 200,360 Notes and bonds, nominal (2) 470,010 0 + 3,335 470,010 Notes and bonds, inflation-indexed (2) 38,437 0 + 6,661 38,437 Inflation compensation (3) 4,558 - 7 + 1,130 4,556 Federal agency (2) 0 0 0 0 Repurchase agreements(4) 43,536 + 25,179 + 8,357 38,750 Term auction credit 60,000 0 + 60,000 60,000 Other loans 223 + 165 + 197 1,371 Primary credit 220 + 163 + 215 1,368 Secondary credit 0 0 0 0 Seasonal credit 3 + 2 - 18 3 Float -1,291 - 264 - 1,080 -1,266 Other Federal Reserve assets 51,026 - 16,549 + 13,204 50,579 Gold stock 11,041 0 0 11,041 Special drawing rights certificate account 2,200 0 0 2,200 Treasury currency outstanding (5) 38,779 + 14 + 487 38,779 Total factors supplying reserve funds 918,879 + 8,538 + 15,632 914,817 Currency in circulation(5) 817,160 + 3,301 + 9,360 817,666 Reverse repurchase agreements (6) 37,977 + 1,571 + 261 38,610 Foreign official and international accounts 37,977 + 1,571 + 261 38,610 Dealers 0 0 0 0 Treasury cash holdings 269 - 6 + 59 262 Deposits with F.R.Banks, other than reserve balances 11,017 - 1,521 - 1,019 11,674 U.S. Treasury, general account 3,861 - 1,455 - 1,079 4,525 Foreign official 98 + 1 + 7 101 Service-related 6,748 - 64 + 10 6,748 Required clearing balances 6,748 - 64 + 10 6,748 Adjustments to compensate for float 0 0 0 0 Other 310 - 3 + 43 299 Other liabilities and capital 42,407 + 879 + 4,775 42,916 Total factors, other than reserve balances, absorbing reserve funds 908,829 + 4,224 + 13,436 911,127 Reserve balances with Federal Reserve Banks 10,050 + 4,315 + 2,196 3,690 Memo (off-balance-sheet items): Marketable securities held in custody for foreign official and international accounts(2,7) 2,130,220 + 17,312 + 303,639 2,135,053 U.S. Treasury 1,264,063 - 2,617 + 71,285 1,266,381 Federal agency 866,158 + 19,929 + 232,356 868,672 Securities lent to dealers 16,019 + 6,269 + 13,565 16,035 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 Feb 20, 2008 Feb 13, 2008 Feb 21, 2007 Assets Gold certificate account 11,037 0 0 Special drawing rights certificate account 2,200 0 0 Coin 1,359 - 21 + 358 Securities, repurchase agreements, term auction credit, and other loans 813,484 + 12,076 + 540 Securities held outright 713,362 - 7 - 65,540 U.S. Treasury (1) 713,362 - 7 - 65,540 Bills (2) 200,360 0 - 76,659 Notes and bonds, nominal (2) 470,010 0 + 3,335 Notes and bonds, inflation-indexed (2) 38,437 0 + 6,661 Inflation compensation (3) 4,556 - 7 + 1,124 Federal agency (2) 0 0 0 Repurchase agreements (4) 38,750 + 10,750 + 4,750 Term auction credit 60,000 0 + 60,000 Other loans 1,371 + 1,332 + 1,330 Items in process of collection (1,098) 2,914 + 1,538 - 5,168 Bank premises 2,134 + 2 + 174 Other assets (5) 48,330 - 17,234 + 12,498 Total assets (1,098) 881,457 - 3,640 + 8,401 Liabilities Federal Reserve notes, net of FR Bank holdings 780,503 + 1,566 + 9,265 Reverse repurchase agreements (6) 38,610 + 20 + 466 Deposits (0) 15,249 - 8,155 - 5,125 Depository institutions 10,323 - 7,701 - 4,399 U.S. Treasury, general account 4,525 - 454 - 779 Foreign official 101 + 5 + 10 Other (0) 299 - 6 + 42 Deferred availability cash items (1,098) 4,180 + 1,372 - 1,730 Other liabilities and accrued dividends (7) 4,394 + 419 - 1,251 Total liabilities (1,098) 842,935 - 4,779 + 1,626 Capital Accounts Capital paid in 19,353 + 867 + 3,494 Surplus 18,457 + 9 + 3,233 Other capital accounts 713 + 264 + 49 Total capital 38,522 + 1,139 + 6,775 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 Term Auction Credit, Other Loans and Securities, February 20, 2008 Millions of dollars Term auction Other U.S. Treasury Reverse Remaining maturity credit loans securities (1) Repurchase repurchase Weekly agreements(2)agreements(2) Holdings changes Within 15 days 30,000 1,368 48,171 - 5,317 38,750 38,610 16 days to 90 days 30,000 4 114,849 + 8,965 0 0 91 days to 1 year ------ 0 135,884 - 10,735 ------ ------ Over 1 to 5 years ------ ------ 231,343 - 1,744 ------ ------ Over 5 to 10 years ------ ------ 88,939 + 4,533 ------ ------ Over 10 years ------ ------ 94,177 + 4,293 ------ ------ All 60,000 1,371 713,362 - 7 38,750 38,610 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 February 20, 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 1,359 46 63 107 127 158 170 154 56 56 82 147 192 Securities, repurchase agreements, term auction credit, and other loans 813,484 36,779 317,350 33,274 30,965 66,158 74,954 63,685 24,618 15,472 24,548 34,295 91,387 Securities held outright 713,362 32,876 258,306 31,559 29,193 61,807 66,163 59,835 22,800 14,233 23,092 31,343 82,155 U.S. Treasury (1) 713,362 32,876 258,306 31,559 29,193 61,807 66,163 59,835 22,800 14,233 23,092 31,343 82,155 Bills (2) 200,360 9,234 72,550 8,864 8,199 17,360 18,583 16,806 6,404 3,998 6,486 8,803 23,075 Notes and bonds(3) 513,002 23,642 185,757 22,695 20,994 44,448 47,580 43,029 16,396 10,236 16,606 22,540 59,080 Federal agency (2) 0 0 0 0 0 0 0 0 0 0 0 0 0 Repurchase agreements(4) 38,750 1,786 14,031 1,714 1,586 3,357 3,594 3,250 1,238 773 1,254 1,703 4,463 Term auction credit 60,000 1,510 44,872 0 10 813 5,195 370 580 466 200 1,250 4,734 Other loans 1,371 607 140 0 176 180 2 230 0 0 1 0 35 Items in process of collection 4,012 145 106 273 509 224 434 391 94 204 524 240 869 Bank premises 2,134 119 214 65 152 185 230 204 114 112 274 256 209 Other assets(5) 48,330 2,531 14,422 3,890 2,940 10,334 3,838 2,584 795 932 814 1,271 3,978 Interdistrict settlement account 0 - 2,225 -25,382 + 2,402 + 1,549 + 3,944 + 1,835 +10,808 + 4,898 + 1,253 + 5,885 - 979 - 3,988 Total Assets 882,555 37,959 311,700 40,548 36,774 82,019 82,742 78,941 30,972 18,264 32,528 35,941 94,168 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 February 20, 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 Liabilities Federal Reserve notes outstanding 997,947 39,325 346,591 42,232 39,771 80,315 110,545 86,286 32,887 19,175 33,191 56,671 110,958 Less: notes held by F.R. Banks 217,444 6,188 66,834 8,571 8,631 14,391 36,250 14,421 4,239 3,083 3,319 24,394 27,122 Federal Reserve notes, net 780,503 33,137 279,757 33,661 31,141 65,924 74,295 71,865 28,648 16,092 29,872 32,277 83,836 Reverse repurchase agreements (1) 38,610 1,779 13,981 1,708 1,580 3,345 3,581 3,238 1,234 770 1,250 1,696 4,447 Deposits 15,249 440 6,674 496 425 1,658 1,024 864 378 246 411 661 1,971 Depository institutions 10,323 399 1,908 492 421 1,575 1,020 861 365 245 409 661 1,968 U.S. Treasury, general account 4,525 0 4,525 0 0 0 0 0 0 0 0 0 0 Foreign official 101 2 71 4 3 11 3 2 0 1 0 1 3 Other 299 38 171 0 2 72 0 1 13 0 1 0 0 Deferred availability cash items 5,278 238 108 806 771 499 449 471 149 307 425 339 718 Other liabilities and accrued dividends (2) 4,394 206 1,284 211 221 546 438 377 180 125 163 216 426 Total liabilities 844,033 35,800 301,804 36,882 34,138 71,972 79,787 76,816 30,589 17,540 32,120 35,190 91,398 Capital Capital paid in 19,353 1,077 5,007 1,817 1,311 4,997 1,447 1,256 182 357 196 361 1,345 Surplus 18,457 1,049 4,624 1,813 1,291 4,996 1,425 815 180 355 194 364 1,350 Other capital 713 33 265 35 34 54 84 55 21 12 19 27 75 Total liabilities and capital 882,555 37,959 311,700 40,548 36,774 82,019 82,742 78,941 30,972 18,264 32,528 35,941 94,168 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 Feb 20, 2008 Federal Reserve notes outstanding 997,947 Less: Notes held by F.R. Banks not subject to collateralization 217,444 Federal Reserve notes to be collateralized 780,503 Collateral held against Federal Reserve notes 780,503 Gold certificate account 11,037 Special drawing rights certificate account 2,200 U.S. Treasury and agency securities pledged (1) 713,467 Other assets pledged 53,799 Memo: Total U.S. Treasury and agency securities (1) 752,112 Less:face value of securities under reverse repurchase agreements 38,646 U.S. Treasury and agency securities eligible to be pledged 713,467 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.