FEDERAL RESERVE Statistical Release H.4.1 Factors Affecting Reserve Balances of Depository Institutions and Condition Statement of Federal Reserve Banks May 31, 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 May 30, 2007 May 23, 2007 May 31, 2006 May 30, 2007 Federal Reserve Banks Reserve Bank Credit 853,787 + 3,688 + 26,827 861,366 Securities held outright 790,236 + 83 + 27,835 790,260 U.S. Treasury (1) 790,236 + 83 + 27,835 790,260 Bills (2) 277,019 0 + 1,649 277,019 Notes and bonds, nominal (2) 474,672 0 + 13,822 474,672 Notes and bonds, inflation-indexed (2) 34,459 0 + 11,813 34,459 Inflation compensation (3) 4,087 + 84 + 552 4,111 Federal agency (2) 0 0 0 0 Repurchase agreements(4) 25,857 + 3,786 - 572 31,000 Loans to depository institutions 128 - 14 - 67 121 Primary credit 6 - 36 - 17 1 Secondary credit 0 0 0 0 Seasonal credit 122 + 21 - 50 120 Float -1,413 - 478 + 116 858 Other Federal Reserve assets 38,979 + 312 - 486 39,127 Gold stock 11,041 0 0 11,041 Special drawing rights certificate account 2,200 0 0 2,200 Treasury currency outstanding (5) 38,483 + 14 + 503 38,483 Total factors supplying reserve funds 905,512 + 3,702 + 27,331 913,091 Currency in circulation(5) 813,626 + 4,781 + 15,437 815,177 Reverse repurchase agreements (6) 32,764 + 549 + 9,180 34,860 Foreign official and international accounts 32,764 + 549 + 9,180 34,860 Dealers 0 0 0 0 Treasury cash holdings 281 + 15 + 93 286 Deposits with F.R.Banks, other than reserve balances 12,143 + 392 - 647 11,563 U.S. Treasury, general account 5,183 + 270 + 313 4,637 Foreign official 94 0 + 6 94 Service-related 6,580 + 111 - 1,000 6,580 Required clearing balances 6,580 + 111 - 1,000 6,580 Adjustments to compensate for float 0 0 0 0 Other 287 + 12 + 34 253 Other liabilities and capital 39,269 + 209 + 5,267 38,892 Total factors, other than reserve balances, absorbing reserve funds 898,083 + 5,946 + 29,330 900,777 Reserve balances with Federal Reserve Banks 7,429 - 2,244 - 1,999 12,313 Memo (off-balance-sheet items): Marketable securities held in custody for foreign official and international accounts(2,7) 1,959,312 + 14,576 + 344,757 1,962,529 U.S. Treasury 1,231,410 + 9,673 + 116,762 1,234,593 Federal agency 727,902 + 4,903 + 227,995 727,936 Securities lent to dealers 4,203 + 47 + 1,327 8,942 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 May 30, 2007 May 23, 2007 May 31, 2006 Assets Gold certificate account 11,037 0 0 Special drawing rights certificate account 2,200 0 0 Coin 880 - 25 + 164 Securities, repurchase agreements, and loans 821,381 - 169 + 28,013 Securities held outright 790,260 + 78 + 27,849 U.S. Treasury (1) 790,260 + 78 + 27,849 Bills (2) 277,019 0 + 1,649 Notes and bonds, nominal (2) 474,672 0 + 13,822 Notes and bonds, inflation-indexed (2) 34,459 0 + 11,813 Inflation compensation (3) 4,111 + 79 + 566 Federal agency (2) 0 0 0 Repurchase agreements (4) 31,000 - 250 + 250 Loans 121 + 3 - 86 Items in process of collection (1,234) 5,934 + 2,799 - 2,478 Bank premises 2,016 + 2 + 179 Other assets (5) 37,267 + 432 - 47 Total assets (1,234) 880,715 + 3,039 + 25,832 Liabilities Federal Reserve notes net of FR Bank holdings 777,855 + 3,749 + 15,825 Reverse repurchase agreements (6) 34,860 + 2,242 + 10,257 Deposits (0) 24,032 - 3,862 - 2,328 Depository institutions 19,049 - 4,174 - 4,346 U.S. Treasury, general account 4,637 + 325 + 2,000 Foreign official 94 + 1 + 8 Other (0) 253 - 13 + 11 Deferred availability cash items (1,234) 5,077 + 769 - 2,306 Other liabilities and accrued dividends (7) 5,971 + 51 + 1,083 Total liabilities (1,234) 847,794 + 2,947 + 22,530 Capital Accounts Capital paid in 16,102 + 81 + 1,146 Surplus 15,375 + 1 + 2,474 Other capital accounts 1,444 + 10 - 318 Total capital 32,921 + 92 + 3,302 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, May 30, 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 119 70,503 + 1,310 0 0 31,000 34,860 16 days to 90 days 2 164,252 - 672 0 0 0 0 91 days to 1 year 0 169,274 - 633 0 0 ------ ------ Over 1 to 5 years ------ 229,514 + 24 0 0 ------ ------ Over 5 to 10 years ------ 74,496 + 19 0 0 ------ ------ Over 10 years ------ 82,220 + 30 0 0 ------ ------ All 121 790,260 + 78 0 0 31,000 34,860 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 May 30, 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 11,037 449 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 880 33 52 58 88 82 99 104 39 38 68 87 130 Securities, repurchase agreements, and loans 821,381 37,854 297,376 36,333 33,609 71,156 76,173 68,922 26,277 16,411 26,601 36,086 94,583 Securities held outright 790,260 36,420 286,151 34,961 32,340 68,470 73,295 66,285 25,257 15,767 25,581 34,721 91,011 U.S. Treasury (1) 790,260 36,420 286,151 34,961 32,340 68,470 73,295 66,285 25,257 15,767 25,581 34,721 91,011 Bills (2) 277,019 12,767 100,308 12,255 11,336 24,001 25,693 23,235 8,854 5,527 8,967 12,171 31,903 Notes and bonds(3) 513,242 23,653 185,843 22,706 21,003 44,468 47,602 43,049 16,404 10,240 16,614 22,550 59,108 Federal agency (2) 0 0 0 0 0 0 0 0 0 0 0 0 0 Repurchase agreements(4) 31,000 1,429 11,225 1,371 1,269 2,686 2,875 2,600 991 619 1,003 1,362 3,570 Loans 121 6 0 0 0 0 3 37 29 26 16 3 2 Items in process of collection 7,168 173 193 481 1,405 267 513 1,942 187 225 395 534 855 Bank premises 2,016 117 214 57 156 172 231 207 90 115 201 261 195 Other assets(5) 37,267 1,237 11,542 3,245 2,138 6,993 3,173 2,413 724 698 733 972 3,399 Interdistrict settlement account 0 - 1,925 - 1,210 - 859 - 4,349 + 2,027 + 5,689 + 184 + 315 - 677 + 1,316 + 1,312 - 1,822 Total Assets 881,949 38,054 313,093 39,853 33,578 81,714 87,162 74,886 28,028 17,043 29,714 39,963 98,859 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 May 30, 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 971,407 37,964 343,797 39,380 35,876 78,465 107,910 80,484 29,410 17,308 30,459 57,533 112,822 Less: notes held by F.R. Banks 193,552 4,255 62,927 6,571 8,700 13,201 29,767 13,719 3,510 2,452 3,446 21,175 23,829 Federal Reserve notes, net 777,855 33,709 280,870 32,809 27,175 65,264 78,143 66,764 25,900 14,856 27,013 36,357 88,993 Reverse repurchase agreements (1) 34,860 1,607 12,623 1,542 1,427 3,020 3,233 2,924 1,114 696 1,128 1,532 4,015 Deposits 24,032 1,299 8,750 713 1,796 4,043 1,556 2,448 311 268 444 640 1,763 Depository institutions 19,049 1,291 3,878 707 1,792 3,965 1,552 2,446 308 267 443 640 1,760 U.S. Treasury, general account 4,637 0 4,637 0 0 0 0 0 0 0 0 0 0 Foreign official 94 1 64 5 3 11 3 2 0 1 0 1 3 Other 253 7 171 1 1 67 0 0 2 0 1 0 0 Deferred availability cash items 6,311 340 182 850 670 474 877 438 128 416 536 567 835 Other liabilities and accrued dividends (2) 5,971 261 1,837 296 285 804 579 479 215 156 198 278 581 Total liabilities 849,028 37,216 304,263 36,210 31,353 73,605 84,389 73,053 27,668 16,391 29,320 39,374 96,187 Capital Capital paid in 16,102 403 4,281 1,807 1,100 3,978 1,391 887 173 321 187 278 1,295 Surplus 15,375 396 3,771 1,810 1,087 4,095 1,277 859 166 276 176 213 1,247 Other capital 1,444 38 778 26 38 36 106 87 21 56 31 98 130 Total liabilities and capital 881,949 38,054 313,093 39,853 33,578 81,714 87,162 74,886 28,028 17,043 29,714 39,963 98,859 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 May 30, 2007 Federal Reserve notes outstanding 971,407 Less: Notes held by F.R. Banks not subject to collateralization 193,552 Federal Reserve Notes to be collateralized 777,855 Collateral held against Federal Reserve notes 777,855 Gold certificate account 11,037 Special drawing rights certificate account 2,200 U.S. Treasury and agency securities pledged (1) 764,618 Other assets pledged 0 Memo: Total U.S. Treasury and agency securities (1) 821,260 Less:face value of securities under reverse repurchase agreements 34,909 U.S. Treasury and agency securities eligible to be pledged 786,351 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.