FEDERAL RESERVE Statistical Release H.4.1 Factors Affecting Reserve Balances of Depository Institutions and Condition Statement of Federal Reserve Banks March 6, 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 Mar 5, 2008 Feb 27, 2008 Mar 7, 2007 Mar 5, 2008 Federal Reserve Banks Reserve Bank Credit 873,313 + 6,713 + 21,602 865,980 Securities held outright 713,365 + 7 - 67,444 713,388 U.S. Treasury (1) 713,365 + 7 - 67,444 713,388 Bills (2) 200,360 0 - 76,659 200,360 Notes and bonds, nominal (2) 470,010 0 + 1,457 470,010 Notes and bonds, inflation-indexed (2) 38,437 0 + 6,661 38,437 Inflation compensation (3) 4,559 + 8 + 1,098 4,581 Federal agency (2) 0 0 0 0 Repurchase agreements(4) 59,357 + 16,500 + 26,000 52,250 Term auction credit 60,000 0 + 60,000 60,000 Other loans 358 + 185 + 326 37 Primary credit 355 + 186 + 347 34 Secondary credit 0 0 0 0 Seasonal credit 3 - 2 - 21 3 Float -1,374 - 262 - 655 -1,545 Other Federal Reserve assets 41,607 - 9,716 + 3,374 41,850 Gold stock 11,041 0 0 11,041 Special drawing rights certificate account 2,200 0 0 2,200 Treasury currency outstanding (5) 38,736 + 14 + 418 38,736 Total factors supplying reserve funds 925,290 + 6,727 + 22,020 917,957 Currency in circulation(5) 815,956 + 550 + 9,077 817,899 Reverse repurchase agreements (6) 43,138 + 3,605 + 4,509 40,812 Foreign official and international accounts 43,138 + 3,605 + 4,509 40,812 Dealers 0 0 0 0 Treasury cash holdings 260 - 1 + 55 260 Deposits with F.R.Banks, other than reserve balances 11,985 + 115 + 206 11,917 U.S. Treasury, general account 4,867 + 127 + 142 4,794 Foreign official 97 - 1 + 5 98 Service-related 6,750 0 + 60 6,750 Required clearing balances 6,750 0 + 60 6,750 Adjustments to compensate for float 0 0 0 0 Other 271 - 12 0 275 Other liabilities and capital 44,396 + 662 + 5,741 43,965 Total factors, other than reserve balances, absorbing reserve funds 915,735 + 4,931 + 19,588 914,852 Reserve balances with Federal Reserve Banks 9,556 + 1,797 + 2,433 3,104 Memo (off-balance-sheet items): Marketable securities held in custody for foreign official and international accounts(2,7) 2,150,012 + 8,556 + 301,608 2,144,806 U.S. Treasury 1,280,627 + 10,344 + 70,757 1,276,650 Federal agency 869,385 - 1,788 + 230,851 868,156 Securities lent to dealers 19,020 + 4,561 + 16,815 16,300 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 5, 2008 Feb 27, 2008 Mar 7, 2007 Assets Gold certificate account 11,037 0 0 Special drawing rights certificate account 2,200 0 0 Coin 1,351 - 1 + 374 Securities, repurchase agreements, term auction credit, and other loans 825,675 - 2,867 + 13,564 Securities held outright 713,388 + 33 - 67,430 U.S. Treasury (1) 713,388 + 33 - 67,430 Bills (2) 200,360 0 - 76,659 Notes and bonds, nominal (2) 470,010 0 + 1,457 Notes and bonds, inflation-indexed (2) 38,437 0 + 6,661 Inflation compensation (3) 4,581 + 32 + 1,111 Federal agency (2) 0 0 0 Repurchase agreements (4) 52,250 - 2,250 + 21,000 Term auction credit 60,000 0 + 60,000 Other loans 37 - 650 - 6 Items in process of collection (615) 1,715 + 150 - 1,867 Bank premises 2,140 + 2 + 171 Other assets (5) 39,584 - 10,182 + 3,083 Total assets (615) 883,702 - 12,897 + 15,326 Liabilities Federal Reserve notes, net of FR Bank holdings 780,769 + 1,317 + 9,914 Reverse repurchase agreements (6) 40,812 - 1,836 + 3,024 Deposits (0) 14,895 - 12,700 - 1,910 Depository institutions 9,729 - 12,394 - 2,281 U.S. Treasury, general account 4,794 - 309 + 345 Foreign official 98 - 1 + 2 Other (0) 275 + 5 + 25 Deferred availability cash items (615) 3,260 + 486 - 1,362 Other liabilities and accrued dividends (7) 4,415 - 301 - 1,386 Total liabilities (615) 844,151 - 13,034 + 8,281 Capital Accounts Capital paid in 19,461 + 66 + 3,501 Surplus 18,458 + 1 + 3,142 Other capital accounts 1,632 + 70 + 402 Total capital 39,551 + 137 + 7,045 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, March 5, 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 34 38,873 - 9,048 52,250 40,812 16 days to 90 days 30,000 3 126,745 + 9,926 0 0 91 days to 1 year ------ 0 133,639 - 524 ------ ------ Over 1 to 5 years ------ ------ 231,000 - 341 ------ ------ Over 5 to 10 years ------ ------ 88,945 + 7 ------ ------ Over 10 years ------ ------ 94,187 + 13 ------ ------ All 60,000 37 713,388 + 33 52,250 40,812 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 March 5, 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 1,351 44 63 110 128 155 163 155 58 56 83 142 194 Securities, repurchase agreements, term auction credit, and other loans 825,675 36,295 318,912 33,872 31,838 67,055 74,221 66,940 25,552 18,334 24,784 34,890 92,981 Securities held outright 713,388 32,877 258,316 31,561 29,194 61,809 66,165 59,837 22,801 14,234 23,093 31,344 82,158 U.S. Treasury (1) 713,388 32,877 258,316 31,561 29,194 61,809 66,165 59,837 22,801 14,234 23,093 31,344 82,158 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) 513,028 23,643 185,766 22,697 20,995 44,450 47,582 43,031 16,397 10,236 16,607 22,541 59,083 Federal agency (2) 0 0 0 0 0 0 0 0 0 0 0 0 0 Repurchase agreements(4) 52,250 2,408 18,920 2,312 2,138 4,527 4,846 4,383 1,670 1,043 1,691 2,296 6,017 Term auction credit 60,000 1,010 41,677 0 500 708 3,210 2,720 1,080 3,057 0 1,250 4,788 Other loans 37 0 0 0 6 10 0 1 2 1 0 0 18 Items in process of collection 2,330 75 31 156 434 174 146 198 91 150 215 164 495 Bank premises 2,140 119 214 65 152 186 229 207 118 112 276 255 208 Other assets(5) 39,584 2,027 12,235 3,016 2,321 7,915 3,191 2,209 721 766 729 1,105 3,348 Interdistrict settlement account 0 - 1,492 -21,032 + 2,234 + 1,383 + 4,487 + 7,018 + 7,120 + 3,525 - 1,520 + 5,584 - 1,505 - 5,803 Total Assets 884,316 37,631 315,351 39,990 36,788 80,988 86,252 77,944 30,462 18,131 32,074 35,762 92,944 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 5, 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 994,268 39,145 345,408 41,856 39,557 79,446 112,902 85,433 32,468 18,885 32,660 56,441 110,068 Less: notes held by F.R. Banks 213,499 6,352 63,439 8,556 8,512 14,710 35,212 14,633 4,293 2,978 3,184 24,441 27,189 Federal Reserve notes, net 780,769 32,793 281,969 33,300 31,045 64,735 77,691 70,800 28,175 15,907 29,476 32,000 82,879 Reverse repurchase agreements (1) 40,812 1,881 14,778 1,806 1,670 3,536 3,785 3,423 1,304 814 1,321 1,793 4,700 Deposits 14,895 366 7,079 380 642 1,414 1,031 736 330 249 419 788 1,463 Depository institutions 9,729 353 2,055 375 639 1,316 1,028 734 316 248 417 787 1,460 U.S. Treasury, general account 4,794 0 4,794 0 0 0 0 0 0 0 0 0 0 Foreign official 98 2 68 4 3 11 3 2 0 1 0 1 3 Other 275 11 162 0 0 87 0 0 13 0 1 0 0 Deferred availability cash items 3,875 186 68 605 550 309 297 347 76 307 282 213 635 Other liabilities and accrued dividends (2) 4,415 206 1,344 212 221 514 447 372 188 120 159 213 418 Total liabilities 844,765 35,432 305,238 36,303 34,127 70,508 83,251 75,678 30,073 17,397 31,657 35,006 90,095 Capital Capital paid in 19,461 1,077 4,897 1,817 1,310 5,175 1,455 1,256 182 357 195 361 1,379 Surplus 18,458 1,049 4,624 1,813 1,291 4,997 1,426 815 180 355 194 364 1,350 Other capital 1,632 73 591 57 60 308 121 195 27 22 28 31 120 Total liabilities and capital 884,316 37,631 315,351 39,990 36,788 80,988 86,252 77,944 30,462 18,131 32,074 35,762 92,944 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 5, 2008 Federal Reserve notes outstanding 994,268 Less: Notes held by F.R. Banks not subject to collateralization 213,499 Federal Reserve notes to be collateralized 780,769 Collateral held against Federal Reserve notes 780,769 Gold certificate account 11,037 Special drawing rights certificate account 2,200 U.S. Treasury and agency securities pledged (1) 724,785 Other assets pledged 42,747 Memo: Total U.S. Treasury and agency securities (1) 765,638 Less:face value of securities under reverse repurchase agreements 40,853 U.S. Treasury and agency securities eligible to be pledged 724,785 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.