FEDERAL RESERVE Statistical Release H.4.1 Factors Affecting Reserve Balances of Depository Institutions and Condition Statement of Federal Reserve Banks June 12, 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 Jun 11, 2008 Jun 4, 2008 Jun 13, 2007 Jun 11, 2008 Federal Reserve Banks Reserve Bank credit 873,485 - 4,238 + 23,593 874,629 Securities held outright 482,050 - 4,859 - 308,309 482,073 U.S. Treasury (1) 482,050 - 4,859 - 308,309 482,073 Bills (2) 25,143 - 4,926 - 251,876 25,143 Notes and bonds, nominal (2) 412,392 0 - 62,280 412,392 Notes and bonds, inflation-indexed (2) 39,171 0 + 4,712 39,171 Inflation compensation (3) 5,345 + 68 + 1,136 5,368 Federal agency (2) 0 0 0 0 Repurchase agreements (4) 116,821 + 2,714 + 95,750 118,250 Term auction credit 150,000 0 + 150,000 150,000 Other loans 21,875 - 2,384 + 21,729 22,037 Primary credit 13,148 - 2,773 + 13,122 13,450 Secondary credit 224 + 224 + 224 0 Seasonal credit 67 - 10 - 53 67 Primary dealer credit facility 8,436 + 175 + 8,436 8,520 Other credit extensions 0 0 0 0 Float -1,399 - 153 - 574 -1,600 Other Federal Reserve assets 104,138 + 443 + 64,997 103,868 Gold stock 11,041 0 0 11,041 Special drawing rights certificate account 2,200 0 0 2,200 Treasury currency outstanding (5) 38,819 + 14 + 342 38,819 Total factors supplying reserve funds 925,545 - 4,224 + 23,935 926,688 Currency in circulation (5) 822,782 - 660 + 11,358 823,602 Reverse repurchase agreements (6) 40,114 + 1,120 + 7,799 39,755 Foreign official and international accounts 40,114 + 1,120 + 7,799 39,755 Dealers 0 0 0 0 Treasury cash holdings 273 - 7 - 23 280 Deposits with F.R. Banks, other than reserve balances 12,316 + 38 + 436 11,834 U.S. Treasury, general account 4,849 + 5 - 109 4,369 Foreign official 99 0 - 10 100 Service-related 7,096 + 25 + 513 7,096 Required clearing balances 7,096 + 25 + 513 7,096 Adjustments to compensate for float 0 0 0 0 Other 273 + 9 + 42 269 Other liabilities and capital 44,539 + 412 + 5,088 43,942 Total factors, other than reserve balances, absorbing reserve funds 920,024 + 903 + 24,657 919,412 Reserve balances with Federal Reserve Banks 5,521 - 5,126 - 722 7,277 Memo (off-balance-sheet items): Marketable securities held in custody for foreign official and international accounts (2,7) 2,304,142 + 2,739 + 348,823 2,307,941 U.S. Treasury 1,349,729 - 825 + 123,062 1,352,702 Federal agency 954,413 + 3,563 + 225,761 955,239 Securities lent to dealers 106,700 - 8,918 + 103,113 105,382 Overnight facility (8) 9,733 - 6,217 + 6,146 8,682 Term facility (9) 96,967 - 2,702 + 96,967 96,700 Note: Components may not sum to totals because of rounding. 1. Includes securities lent to dealers under the overnight and term securities lending facilities. 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. 8. Fully collateralized by U.S. Treasury securities. 9. Fully collateralized by U.S. Treasury securities, federal agency securities, and highly rated non-agency asset-backed and mortgage-backed securities. 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 Jun 11, 2008 Jun 4, 2008 Jun 13, 2007 Assets Gold certificate account 11,037 0 0 Special drawing rights certificate account 2,200 0 0 Coin 1,339 + 14 + 425 Securities, repurchase agreements, term auction credit, and other loans 772,360 - 5,119 - 40,163 Securities held outright 482,073 - 4,864 - 308,307 U.S. Treasury (1) 482,073 - 4,864 - 308,307 Bills (2) 25,143 - 4,926 - 251,876 Notes and bonds, nominal (2) 412,392 0 - 62,280 Notes and bonds, inflation-indexed (2) 39,171 0 + 4,712 Inflation compensation (3) 5,368 + 63 + 1,137 Federal agency (2) 0 0 0 Repurchase agreements (4) 118,250 - 1,500 + 96,250 Term auction credit 150,000 0 + 150,000 Other loans 22,037 + 1,244 + 21,895 Items in process of collection (585) 1,136 - 723 - 1,560 Bank premises 2,149 - 3 + 121 Other assets (5) 101,716 + 728 + 64,364 Total assets (585) 891,937 - 5,103 + 23,188 Liabilities Federal Reserve notes, net of FR Bank holdings 786,398 - 705 + 11,428 Reverse repurchase agreements (6) 39,755 - 2,365 + 8,176 Deposits (0) 19,107 - 2,276 - 46 Depository institutions 14,369 - 1,381 + 279 U.S. Treasury, general account 4,369 - 909 - 373 Foreign official 100 + 2 + 5 Other (0) 269 + 13 + 43 Deferred availability cash items (585) 2,736 - 119 - 1,474 Other liabilities and accrued dividends (7) 3,579 + 250 - 2,467 Total liabilities (585) 851,574 - 5,215 + 15,616 Capital accounts Capital paid in 19,931 + 8 + 3,834 Surplus 18,486 0 + 3,115 Other capital accounts 1,946 + 104 + 623 Total capital 40,363 + 112 + 7,572 Note: Components may not sum to totals because of rounding. 1. Includes securities lent to dealers under the overnight and term securities lending facilities; refer to table 1, footnotes 8 and 9. 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, June 11, 2008 Millions of dollars U.S. Treasury Reverse Remaining maturity Term securities (1) Repurchase repurchase auction Other Weekly agreements agreements credit loans Holdings changes (2) (2) Within 15 days 75,000 9,906 3,403 - 3,416 78,250 39,755 16 days to 90 days 75,000 12,131 41,236 + 858 40,000 0 91 days to 1 year --- 0 79,105 - 2,363 --- --- Over 1 to 5 years --- --- 171,751 + 20 --- --- Over 5 to 10 years --- --- 90,094 + 14 --- --- Over 10 years --- --- 96,485 + 26 --- --- All 150,000 22,037 482,073 - 4,864 118,250 39,755 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 June 11, 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 11,037 424 3,935 453 423 891 1,221 913 344 199 349 636 1,249 Special drawing rights certificate acct. 2,200 115 874 83 104 147 166 212 71 30 66 98 234 Coin 1,339 45 58 96 109 168 160 164 47 58 90 146 199 Securities, repurchase agreements, term auction credit, and other loans 772,360 26,680 332,005 28,461 25,245 65,071 65,624 57,465 22,955 13,222 22,752 27,660 85,219 Securities held outright 482,073 20,220 171,519 21,048 18,280 43,714 47,965 42,548 16,659 9,101 17,701 19,997 53,323 U.S. Treasury (1) 482,073 20,220 171,519 21,048 18,280 43,714 47,965 42,548 16,659 9,101 17,701 19,997 53,323 Bills (2) 25,143 1,055 8,946 1,098 953 2,280 2,502 2,219 869 475 923 1,043 2,781 Notes and bonds (3) 456,931 19,165 162,573 19,950 17,327 41,434 45,464 40,328 15,790 8,626 16,777 18,954 50,542 Federal agency (2) 0 0 0 0 0 0 0 0 0 0 0 0 0 Repurchase agreements (4) 118,250 4,960 42,073 5,163 4,484 10,723 11,766 10,437 4,086 2,232 4,342 4,905 13,080 Term auction credit 150,000 1,500 99,390 2,240 2,468 10,606 5,823 3,670 2,050 1,728 690 2,758 17,077 Other loans 22,037 0 19,024 10 13 29 70 811 160 161 20 0 1,740 Items in process of collection 1,721 67 0 159 353 177 3 137 24 123 132 206 341 Bank premises 2,149 118 212 65 151 197 227 206 124 112 276 254 207 Other assets (5) 101,716 5,494 27,693 9,131 6,602 24,767 8,242 5,001 1,323 1,935 1,425 2,284 7,818 Interdistrict settlement account 0 + 3,983 -49,626 + 2,362 + 4,427 - 5,425 +19,951 +14,131 + 4,334 + 1,821 + 5,717 + 4,090 - 5,766 Total assets 892,522 36,926 315,152 40,810 37,415 85,993 95,594 78,228 29,221 17,500 30,808 35,375 89,501 Note: Components may not sum to totals because of rounding. 1. Includes securities lent to dealers under the overnight and term securities lending facilities; refer to table 1, footnotes 8 and 9. 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 June 11, 2008 (continued) 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 988,651 37,723 344,494 40,766 39,043 80,841 119,259 83,829 30,894 18,091 31,624 55,839 106,249 Less: notes held by F.R. Banks 202,253 5,148 61,847 7,214 7,599 13,221 32,724 13,376 3,980 2,852 3,519 23,881 26,893 Federal Reserve notes, net 786,398 32,575 282,648 33,552 31,444 67,620 86,534 70,454 26,913 15,240 28,105 31,958 79,355 Reverse repurchase agreements (1) 39,755 1,667 14,144 1,736 1,507 3,605 3,956 3,509 1,374 751 1,460 1,649 4,397 Deposits 19,107 459 7,339 578 705 3,611 1,188 1,112 356 470 501 744 2,044 Depository institutions 14,369 444 2,722 574 701 3,544 1,185 1,110 336 469 500 743 2,041 U.S. Treasury, general account 4,369 0 4,369 0 0 0 0 0 0 0 0 0 0 Foreign official 100 2 70 4 3 11 3 2 0 1 0 1 3 Other 269 13 178 0 1 55 0 0 19 0 1 0 0 Deferred availability cash items 3,321 177 0 418 751 257 270 241 46 252 179 207 523 Other liabilities and accrued dividends (2) 3,579 160 932 210 199 516 360 312 154 108 132 173 323 Total liabilities 852,159 35,038 305,063 36,494 34,606 75,608 92,308 75,627 28,843 16,820 30,376 34,732 86,642 Capital Capital paid in 19,931 816 4,933 2,334 1,401 5,178 1,626 1,280 181 316 208 260 1,400 Surplus 18,486 1,050 4,650 1,814 1,291 4,998 1,425 815 180 355 194 364 1,351 Other capital 1,946 22 506 168 116 210 234 506 17 9 30 19 108 Total liabilities and capital 892,522 36,926 315,152 40,810 37,415 85,993 95,594 78,228 29,221 17,500 30,808 35,375 89,501 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 Jun 11, 2008 Federal Reserve notes outstanding 988,651 Less: Notes held by F.R. Banks not subject to collateralization 202,253 Federal Reserve notes to be collateralized 786,398 Collateral held against Federal Reserve notes 786,398 Gold certificate account 11,037 Special drawing rights certificate account 2,200 U.S. Treasury and agency securities pledged (1) 561,152 Other assets pledged 212,009 Memo: Total U.S. Treasury and agency securities (1) 600,323 Less: face value of securities under reverse repurchase agreements 39,171 U.S. Treasury and agency securities eligible to be pledged 561,152 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.