FEDERAL RESERVE Statistical Release H.4.1 Factors Affecting Reserve Balances of Depository Institutions and Condition Statement of Federal Reserve Banks March 22, 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 Mar 21, 2007 Mar 14, 2007 Mar 22, 2006 Mar 21, 2007 Federal Reserve Banks Reserve Bank Credit 851,125 - 468 + 30,297 848,973 Securities held outright 780,857 + 24 + 23,616 780,866 U.S. Treasury (1) 780,857 + 24 + 23,616 780,866 Bills (2) 277,019 0 + 2,877 277,019 Notes and bonds, nominal (2) 468,553 0 + 11,376 468,553 Notes and bonds, inflation-indexed (2) 31,776 0 + 9,130 31,776 Inflation compensation (3) 3,509 + 24 + 234 3,518 Federal agency (2) 0 0 0 0 Repurchase agreements(4) 31,750 - 1,036 + 2,857 29,750 Loans to depository institutions 40 - 13 - 363 29 Primary credit 10 + 5 - 340 1 Secondary credit 0 - 21 0 0 Seasonal credit 30 + 2 - 22 29 Float -603 + 98 - 83 -908 Other Federal Reserve assets 39,081 + 460 + 4,269 39,236 Gold stock 11,041 0 - 3 11,041 Special drawing rights certificate account 2,200 0 0 2,200 Treasury currency outstanding (5) 38,352 + 14 + 499 38,352 Total factors supplying reserve funds 902,718 - 453 + 30,794 900,566 Currency in circulation(5) 806,298 - 414 + 17,369 807,207 Reverse repurchase agreements (6) 39,237 + 1,899 + 14,224 38,497 Foreign official and international accounts 39,237 + 1,899 + 14,224 38,497 Dealers 0 0 0 0 Treasury cash holdings 237 + 18 + 39 270 Deposits with F.R.Banks, other than reserve balances 12,769 + 649 - 756 12,071 U.S. Treasury, general account 5,408 + 370 + 266 4,721 Foreign official 90 - 26 - 82 90 Service-related 7,041 + 352 - 939 7,041 Required clearing balances 7,041 + 352 - 939 7,041 Adjustments to compensate for float 0 0 0 0 Other 229 - 49 - 2 220 Other liabilities and capital 38,784 + 78 + 5,714 38,269 Total factors, other than reserve balances, absorbing reserve funds 897,324 + 2,228 + 36,590 896,314 Reserve balances with Federal Reserve Banks 5,394 - 2,681 - 5,796 4,252 Memo (off-balance-sheet items): Marketable securities held in custody for foreign official and international accounts(2,7) 1,875,855 + 16,082 + 288,906 1,881,690 U.S. Treasury 1,217,428 + 3,698 + 94,323 1,216,228 Federal agency 658,427 + 12,384 + 194,583 665,462 Securities lent to dealers 1,647 - 626 + 20 1,038 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 21, 2007 Mar 14, 2007 Mar 22, 2006 Assets Gold certificate account 11,037 0 - 3 Special drawing rights certificate account 2,200 0 0 Coin 931 - 21 + 136 Securities, repurchase agreements, and loans 810,646 - 13,223 + 27,438 Securities held outright 780,866 + 24 + 23,609 U.S. Treasury (1) 780,866 + 24 + 23,609 Bills (2) 277,019 0 + 2,877 Notes and bonds, nominal (2) 468,553 0 + 11,376 Notes and bonds, inflation-indexed (2) 31,776 0 + 9,130 Inflation compensation (3) 3,518 + 24 + 226 Federal agency (2) 0 0 0 Repurchase agreements (4) 29,750 - 13,250 + 4,000 Loans 29 + 2 - 172 Items in process of collection (688) 2,905 - 85 - 1,993 Bank premises 1,974 + 5 + 149 Other assets (5) 37,260 + 291 + 60 Total assets (688) 866,952 - 13,034 + 25,787 Liabilities Federal Reserve notes net of FR Bank holdings 770,052 - 693 + 17,147 Reverse repurchase agreements (6) 38,497 - 1,230 + 14,346 Deposits (0) 16,321 - 10,867 - 9,159 Depository institutions 11,290 - 10,456 - 9,481 U.S. Treasury, general account 4,721 - 392 + 307 Foreign official 90 0 + 19 Other (0) 220 - 20 - 3 Deferred availability cash items (688) 3,813 - 143 - 2,279 Other liabilities and accrued dividends (7) 5,811 + 7 + 1,237 Total liabilities (688) 834,494 - 12,926 + 21,292 Capital Accounts Capital paid in 15,857 + 34 + 2,126 Surplus 15,339 0 + 2,438 Other capital accounts 1,262 - 142 - 69 Total capital 32,458 - 108 + 4,495 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, March 21, 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 29 58,762 + 6,642 0 0 29,750 38,497 16 days to 90 days 0 173,851 - 6,714 0 0 0 0 91 days to 1 year 0 174,608 + 74 0 0 ------ ------ Over 1 to 5 years ------ 224,576 + 6 0 0 ------ ------ Over 5 to 10 years ------ 66,546 + 7 0 0 ------ ------ Over 10 years ------ 82,524 + 10 0 0 ------ ------ All 29 780,866 + 24 0 0 29,750 38,497 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 March 21, 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 931 37 61 63 99 88 96 110 38 39 70 87 143 Securities, repurchase agreements, and loans 810,646 38,689 300,031 35,193 35,002 67,338 67,862 74,442 25,755 16,487 23,739 36,380 89,728 Securities held outright 780,866 37,262 289,020 33,902 33,718 64,867 65,372 71,699 24,809 15,875 22,865 35,044 86,434 U.S. Treasury (1) 780,866 37,262 289,020 33,902 33,718 64,867 65,372 71,699 24,809 15,875 22,865 35,044 86,434 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) 503,847 24,043 186,488 21,875 21,756 41,855 42,180 46,263 16,008 10,243 14,754 22,612 55,771 Federal agency (2) 0 0 0 0 0 0 0 0 0 0 0 0 0 Repurchase agreements(4) 29,750 1,420 11,011 1,292 1,285 2,471 2,491 2,732 945 605 871 1,335 3,293 Loans 29 8 0 0 0 0 0 11 0 8 2 0 0 Items in process of collection 3,593 134 79 649 345 330 414 215 102 134 393 185 611 Bank premises 1,974 117 211 57 157 170 231 205 82 116 178 260 189 Other assets(5) 37,260 1,266 11,679 3,161 2,178 6,945 3,036 2,536 733 703 690 988 3,346 Interdistrict settlement account 0 - 2,924 - 8,566 - 1,950 - 5,115 - 571 +14,876 - 4,806 + 846 - 836 + 3,727 + 2,033 + 3,287 Total Assets 867,640 37,920 308,508 37,720 33,216 75,300 87,705 73,861 27,954 16,884 29,187 40,607 98,779 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 21, 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 964,296 38,723 340,326 37,869 36,053 74,399 107,345 81,746 29,380 17,303 30,669 57,144 113,339 Less: notes held by F.R. Banks 194,244 4,429 64,444 6,743 7,886 13,235 27,656 14,877 3,659 2,503 4,001 20,051 24,759 Federal Reserve notes, net 770,052 34,295 275,882 31,125 28,166 61,163 79,689 66,869 25,721 14,800 26,668 37,093 88,580 Reverse repurchase agreements (1) 38,497 1,837 14,249 1,671 1,662 3,198 3,223 3,535 1,223 783 1,127 1,728 4,261 Deposits 16,321 434 7,745 360 505 1,593 1,162 877 322 234 385 663 2,041 Depository institutions 11,290 432 2,813 355 501 1,530 1,159 875 310 233 383 662 2,038 U.S. Treasury, general account 4,721 0 4,721 0 0 0 0 0 0 0 0 0 0 Foreign official 90 1 60 5 3 11 3 2 0 1 0 1 3 Other 220 0 151 0 1 53 0 0 12 0 1 0 0 Deferred availability cash items 4,501 267 73 640 392 559 462 274 115 265 446 282 726 Other liabilities and accrued dividends (2) 5,811 266 1,872 277 283 678 520 518 215 155 186 280 562 Total liabilities 835,182 37,098 299,821 34,074 31,008 67,192 85,056 72,073 27,596 16,237 28,811 40,046 96,171 Capital Capital paid in 15,857 396 4,220 1,810 1,090 3,972 1,312 863 168 317 179 265 1,268 Surplus 15,339 396 3,738 1,810 1,087 4,094 1,276 859 166 276 176 212 1,247 Other capital 1,262 30 729 26 32 42 61 66 24 54 20 84 94 Total liabilities and capital 867,640 37,920 308,508 37,720 33,216 75,300 87,705 73,861 27,954 16,884 29,187 40,607 98,779 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 21, 2007 Federal Reserve notes outstanding 964,296 Less: Notes held by F.R. Banks not subject to collateralization 194,244 Federal Reserve Notes to be collateralized 770,052 Collateral held against Federal Reserve notes 770,052 Gold certificate account 11,037 Special drawing rights certificate account 2,200 U.S. Treasury and agency securities pledged (1) 756,815 Other assets pledged 0 Memo: Total U.S. Treasury and agency securities (1) 810,616 Less:face value of securities under reverse repurchase agreements 38,569 U.S. Treasury and agency securities eligible to be pledged 772,047 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.