FEDERAL RESERVE Statistical Release H.4.1 Factors Affecting Reserve Balances of Depository Institutions and Condition Statement of Federal Reserve Banks January 11, 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 Jan 10, 2007 Jan 3, 2007 Jan 11, 2006 Jan 10, 2007 Federal Reserve Banks Reserve Bank Credit 844,553 - 14,901 + 28,683 839,576 Securities held outright 778,902 - 14 + 34,653 778,898 U.S. Treasury (1) 778,902 - 14 + 34,653 778,898 Bills (2) 277,019 0 + 5,609 277,019 Notes and bonds, nominal (2) 467,864 0 + 18,746 467,864 Notes and bonds, inflation-indexed (2) 30,105 0 + 9,738 30,105 Inflation compensation (3) 3,915 - 13 + 561 3,911 Federal agency (2) 0 0 0 0 Repurchase agreements(4) 26,571 - 14,286 - 3,822 21,500 Loans to depository institutions 39 - 194 0 21 Primary credit 22 - 158 + 6 2 Secondary credit 0 0 0 0 Seasonal credit 16 - 38 - 7 19 Float -269 - 65 - 1,564 -246 Other Federal Reserve assets 39,309 - 342 - 585 39,403 Gold stock 11,041 0 - 2 11,041 Special drawing rights certificate account 2,200 0 0 2,200 Treasury currency outstanding (5) 38,247 + 14 + 1,707 38,247 Total factors supplying reserve funds 896,041 - 14,887 + 30,388 891,064 Currency in circulation(5) 812,478 - 7,352 + 25,729 810,087 Reverse repurchase agreements (6) 29,659 + 114 + 4,511 28,921 Foreign official and international accounts 29,659 + 114 + 4,511 28,921 Dealers 0 0 0 0 Treasury cash holdings 261 + 8 + 58 245 Deposits with F.R.Banks, other than reserve balances 12,068 - 665 - 2,470 12,257 U.S. Treasury, general account 4,797 - 230 + 2 4,999 Foreign official 90 - 4 + 8 91 Service-related 6,937 + 81 - 2,437 6,937 Required clearing balances 6,918 + 76 - 2,456 6,918 Adjustments to compensate for float 19 + 5 + 19 19 Other 245 - 510 - 42 230 Other liabilities and capital 36,466 + 154 + 5,002 36,346 Total factors, other than reserve balances, absorbing reserve funds 890,932 - 7,741 + 32,830 887,855 Reserve balances with Federal Reserve Banks 5,108 - 7,147 - 2,443 3,209 Memo (off-balance-sheet items): Marketable securities held in custody for foreign official and international accounts(2,7) 1,770,262 + 7,232 + 239,357 1,772,235 U.S. Treasury 1,167,850 + 5,561 + 66,942 1,169,039 Federal agency 602,412 + 1,671 + 172,414 603,196 Securities lent to dealers 3,107 - 4,240 + 980 2,952 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 Jan 10, 2007 Jan 3, 2007 Jan 11, 2006 Assets Gold certificate account 11,037 0 - 2 Special drawing rights certificate account 2,200 0 0 Coin 865 + 68 + 157 Securities, repurchase agreements, and loans 800,419 - 19,502 + 30,861 Securities held outright 778,898 - 12 + 34,419 U.S. Treasury (1) 778,898 - 12 + 34,419 Bills (2) 277,019 0 + 5,434 Notes and bonds, nominal (2) 467,864 0 + 18,746 Notes and bonds, inflation-indexed (2) 30,105 0 + 9,674 Inflation compensation (3) 3,911 - 11 + 566 Federal agency (2) 0 0 0 Repurchase agreements (4) 21,500 - 18,250 - 3,500 Loans 21 - 1,241 - 58 Items in process of collection (1,265) 4,804 - 668 - 3,253 Bank premises 1,944 - 1 + 123 Other assets (5) 37,419 + 267 - 1,274 Total assets (1,265) 858,689 - 19,835 + 26,614 Liabilities Federal Reserve notes net of FR Bank holdings 772,946 - 8,401 + 23,527 Reverse repurchase agreements (6) 28,921 - 821 + 3,901 Deposits (0) 15,426 - 11,103 - 3,888 Depository institutions 10,107 - 9,937 - 4,334 U.S. Treasury, general account 4,999 - 1,157 + 534 Foreign official 91 + 1 + 10 Other (0) 230 - 9 - 97 Deferred availability cash items (1,265) 5,050 + 210 - 2,066 Other liabilities and accrued dividends (7) 5,518 + 57 + 1,551 Total liabilities (1,265) 827,861 - 20,059 + 23,024 Capital Accounts Capital paid in 15,331 + 3 + 1,788 Surplus 15,031 + 2 + 2,115 Other capital accounts 466 + 218 - 314 Total capital 30,828 + 224 + 3,589 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, January 10, 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 12 51,875 + 519 0 0 21,500 28,921 16 days to 90 days 9 170,185 + 8 0 0 0 0 91 days to 1 year 0 183,756 - 528 0 0 ------ ------ Over 1 to 5 years ------ 224,968 - 4 0 0 ------ ------ Over 5 to 10 years ------ 67,642 - 2 0 0 ------ ------ Over 10 years ------ 80,473 - 4 0 0 ------ ------ All 21 778,898 - 12 0 0 21,500 28,921 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 January 10, 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 865 29 54 56 80 88 100 103 40 36 69 83 127 Securities, repurchase agreements, and loans 800,419 37,178 309,791 33,817 33,633 64,703 65,207 71,521 24,747 15,837 22,812 34,956 86,218 Securities held outright 778,898 37,168 288,291 33,816 33,633 64,703 65,207 71,518 24,747 15,834 22,808 34,956 86,216 U.S. Treasury (1) 778,898 37,168 288,291 33,816 33,633 64,703 65,207 71,518 24,747 15,834 22,808 34,956 86,216 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) 501,879 23,949 185,759 21,789 21,671 41,691 42,016 46,083 15,946 10,203 14,696 22,524 55,553 Federal agency (2) 0 0 0 0 0 0 0 0 0 0 0 0 0 Repurchase agreements(4) 21,500 0 21,500 0 0 0 0 0 0 0 0 0 0 Loans 21 10 0 1 0 0 0 3 0 3 4 0 1 Items in process of collection 6,070 251 95 714 610 479 1,038 419 139 201 495 645 984 Bank premises 1,944 117 211 58 157 168 231 206 79 116 159 260 182 Other assets(5) 37,419 1,267 12,208 1,888 2,310 7,038 2,813 2,823 778 722 747 984 3,841 Interdistrict settlement account 0 - 436 -17,055 - 15 - 3,479 + 2,812 + 8,950 - 3,853 + 1,743 - 468 + 4,287 + 2,247 + 5,267 Total Assets 859,955 39,006 310,316 37,064 33,862 76,289 79,529 72,378 27,925 16,685 28,958 39,848 98,093 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 January 10, 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 958,897 39,205 342,299 38,588 36,305 75,194 97,666 81,029 29,150 17,485 30,789 56,640 114,548 Less: notes held by F.R. Banks 185,951 3,587 59,173 7,628 7,245 12,180 25,550 14,891 3,309 2,656 4,160 20,032 25,540 Federal Reserve notes, net 772,946 35,619 283,126 30,959 29,060 63,014 72,116 66,138 25,840 14,829 26,629 36,608 89,008 Reverse repurchase agreements (1) 28,921 1,380 10,704 1,256 1,249 2,402 2,421 2,655 919 588 847 1,298 3,201 Deposits 15,426 491 6,879 453 494 1,476 1,278 911 423 224 434 708 1,655 Depository institutions 10,107 488 1,662 451 490 1,408 1,276 908 412 223 431 707 1,651 U.S. Treasury, general account 4,999 0 4,999 0 0 0 0 0 0 0 0 0 0 Foreign official 91 1 62 2 3 11 3 3 0 1 1 0 4 Other 230 3 156 0 1 57 0 0 11 0 2 0 0 Deferred availability cash items 6,316 434 125 805 606 667 634 403 182 338 494 499 1,130 Other liabilities and accrued dividends (2) 5,518 261 1,821 252 267 555 483 507 212 146 185 283 545 Total liabilities 829,127 38,185 302,655 33,725 31,676 68,114 76,933 70,615 27,576 16,125 28,588 39,396 95,539 Capital Capital paid in 15,331 396 3,725 1,810 1,087 4,093 1,276 859 166 276 178 212 1,253 Surplus 15,031 396 3,727 1,529 1,087 4,081 1,276 858 166 276 176 212 1,247 Other capital 466 29 210 0 13 0 44 46 17 9 16 28 55 Total liabilities and capital 859,955 39,006 310,316 37,064 33,862 76,289 79,529 72,378 27,925 16,685 28,958 39,848 98,093 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 Jan 10, 2007 Federal Reserve notes outstanding 958,897 Less: Notes held by F.R. Banks not subject to collateralization 185,951 Federal Reserve Notes to be collateralized 772,946 Collateral held against Federal Reserve notes 772,946 Gold certificate account 11,037 Special drawing rights certificate account 2,200 U.S. Treasury and agency securities pledged (1) 759,709 Other assets pledged 0 Memo: Total U.S. Treasury and agency securities (1) 800,398 Less:face value of securities under reverse repurchase agreements 29,963 U.S. Treasury and agency securities eligible to be pledged 770,435 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.