FEDERAL RESERVE Statistical Release H.4.1 Factors Affecting Reserve Balances of Depository Institutions and Condition Statement of Federal Reserve Banks April 10, 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 Apr 9, 2008 Apr 2, 2008 Apr 11, 2007 Apr 9, 2008 Federal Reserve Banks Reserve Bank credit 866,836 - 8,741 + 17,406 877,436 Securities held outright 560,817 - 28,268 - 220,545 560,114 U.S. Treasury (1) 560,817 - 28,268 - 220,545 560,114 Bills (2) 81,828 - 11,157 - 195,191 81,828 Notes and bonds, nominal (2) 435,765 - 17,144 - 33,197 435,051 Notes and bonds, inflation-indexed (2) 38,437 0 + 6,661 38,437 Inflation compensation (3) 4,787 + 32 + 1,181 4,798 Federal agency (2) 0 0 0 0 Repurchase agreements (4) 99,179 + 21,679 + 70,572 120,000 Term auction credit 100,000 0 + 100,000 100,000 Other loans 42,761 - 2,378 + 42,717 33,838 Primary credit 10,182 + 3,169 + 10,181 7,343 Secondary credit 0 0 0 0 Seasonal credit 17 + 10 - 26 16 Primary dealer credit facility 32,562 - 5,556 + 32,562 26,479 Other credit extensions 0 0 0 0 Float -686 + 385 - 214 -1,657 Other Federal Reserve assets 64,765 - 159 + 24,876 65,140 Gold stock 11,041 0 0 11,041 Special drawing rights certificate account 2,200 0 0 2,200 Treasury currency outstanding (5) 38,750 + 14 + 368 38,750 Total factors supplying reserve funds 918,827 - 8,727 + 17,774 929,426 Currency in circulation (5) 815,160 - 469 + 6,944 815,943 Reverse repurchase agreements (6) 38,917 - 2,779 + 3,475 38,779 Foreign official and international accounts 38,917 + 1,043 + 3,475 38,779 Dealers 0 - 3,821 0 0 Treasury cash holdings 354 + 19 + 13 357 Deposits with F.R. Banks, other than reserve balances 12,621 + 50 + 588 10,899 U.S. Treasury, general account 5,127 - 31 + 455 3,437 Foreign official 98 0 + 6 100 Service-related 7,045 - 3 + 56 7,045 Required clearing balances 7,045 - 3 + 56 7,045 Adjustments to compensate for float 0 0 0 0 Other 350 + 82 + 70 317 Other liabilities and capital 44,975 + 70 + 6,217 44,605 Total factors, other than reserve balances, absorbing reserve funds 912,026 - 3,110 + 17,236 910,582 Reserve balances with Federal Reserve Banks 6,801 - 5,617 + 538 18,844 Memo (off-balance-sheet items): Marketable securities held in custody for foreign official and international accounts (2,7) 2,218,557 + 12,466 + 307,140 2,226,745 U.S. Treasury 1,312,438 + 13,736 + 76,317 1,320,380 Federal agency 906,118 - 1,272 + 230,821 906,365 Securities lent to dealers 109,705 + 24,099 + 108,679 112,164 Overnight facility (8) 13,276 - 8,045 + 12,250 12,164 Term facility (9) 96,429 + 32,143 + 96,429 100,000 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 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 Apr 9, 2008 Apr 2, 2008 Apr 11, 2007 Assets Gold certificate account 11,037 0 0 Special drawing rights certificate account 2,200 0 0 Coin 1,356 + 16 + 393 Securities, repurchase agreements, term auction credit, and other loans 813,953 + 11,917 + 2,337 Securities held outright 560,114 - 21,126 - 222,702 U.S. Treasury (1) 560,114 - 21,126 - 222,702 Bills (2) 81,828 - 11,157 - 195,191 Notes and bonds, nominal (2) 435,051 - 9,999 - 35,348 Notes and bonds, inflation-indexed (2) 38,437 0 + 6,661 Inflation compensation (3) 4,798 + 29 + 1,176 Federal agency (2) 0 0 0 Repurchase agreements (4) 120,000 + 44,000 + 91,250 Term auction credit 100,000 0 + 100,000 Other loans 33,838 - 10,958 + 33,789 Items in process of collection (580) 1,361 - 3,372 - 1,761 Bank premises 2,142 - 3 + 154 Other assets (5) 62,864 + 953 + 24,514 Total assets (580) 894,912 + 9,511 + 25,637 Liabilities Federal Reserve notes, net of FR Bank holdings 778,902 - 658 + 5,885 Reverse repurchase agreements (6) 38,779 - 2,282 + 4,645 Deposits (0) 29,609 + 11,769 + 9,856 Depository institutions 25,756 + 14,339 + 11,128 U.S. Treasury, general account 3,437 - 2,576 - 1,321 Foreign official 100 + 2 + 7 Other (0) 317 + 5 + 43 Deferred availability cash items (580) 3,018 - 242 - 885 Other liabilities and accrued dividends (7) 3,992 + 258 - 1,867 Total liabilities (580) 854,300 + 8,845 + 17,634 Capital Accounts Capital paid in 19,551 + 3 + 3,697 Surplus 18,471 0 + 3,109 Other capital accounts 2,590 + 663 + 1,197 Total capital 40,612 + 666 + 8,003 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, April 9, 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 100,000 27,087 26,342 - 3,935 85,000 38,779 16 days to 90 days 0 6,751 54,594 - 7,222 35,000 0 91 days to 1 year --- 0 99,011 + 2 --- --- Over 1 to 5 years --- --- 196,898 - 9,990 --- --- Over 5 to 10 years --- --- 88,993 + 7 --- --- Over 10 years --- --- 94,275 + 12 --- --- All 100,000 33,838 560,114 - 21,126 120,000 38,779 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 April 9, 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 1,356 47 67 101 126 163 151 160 55 61 88 149 189 Securities, repurchase agreements, term auction credit, and other loans 813,953 32,344 352,841 30,094 32,866 62,787 68,074 58,754 23,808 16,653 22,102 31,082 82,548 Securities held outright 560,114 25,813 202,816 24,780 22,922 48,529 51,949 46,981 17,902 11,176 18,131 24,610 64,506 U.S. Treasury (1) 560,114 25,813 202,816 24,780 22,922 48,529 51,949 46,981 17,902 11,176 18,131 24,610 64,506 Bills (2) 81,828 3,771 29,630 3,620 3,349 7,090 7,589 6,864 2,615 1,633 2,649 3,595 9,424 Notes and bonds (3) 478,286 22,042 173,186 21,160 19,573 41,440 44,360 40,117 15,286 9,543 15,483 21,014 55,082 Federal agency (2) 0 0 0 0 0 0 0 0 0 0 0 0 0 Repurchase agreements (4) 120,000 5,530 43,452 5,309 4,911 10,397 11,130 10,065 3,835 2,394 3,885 5,272 13,820 Term auction credit 100,000 1,000 73,443 0 5,034 3,860 4,995 1,480 2,069 3,082 80 1,200 3,759 Other loans 33,838 0 33,131 6 0 0 0 229 2 1 6 0 463 Items in process of collection 1,941 63 0 283 226 60 8 198 21 142 73 142 724 Bank premises 2,142 118 213 65 152 190 228 205 119 112 277 255 208 Other assets (5) 62,864 3,332 18,228 5,266 3,906 13,997 5,001 3,282 955 1,216 999 1,588 5,093 Interdistrict settlement account 0 + 2,557 -55,520 + 5,981 - 453 + 3,244 +14,031 +16,454 + 4,472 - 434 + 7,484 + 456 + 1,727 Total Assets 895,493 39,026 320,757 42,327 37,355 81,457 88,776 80,169 29,827 17,984 31,423 34,382 92,009 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 April 9, 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 986,521 38,589 340,247 41,532 39,265 78,751 115,062 84,822 31,970 18,654 32,474 56,188 108,968 Less: notes held by F.R. Banks 207,620 6,003 59,134 8,076 8,065 14,195 34,950 14,267 4,354 2,840 3,656 25,097 26,981 Federal Reserve notes, net 778,902 32,586 281,112 33,456 31,200 64,556 80,112 70,555 27,615 15,813 28,818 31,091 81,987 Reverse repurchase agreements (1) 38,779 1,787 14,042 1,716 1,587 3,360 3,597 3,253 1,239 774 1,255 1,704 4,466 Deposits 29,609 2,055 13,901 2,826 1,025 2,281 1,007 3,102 353 266 487 553 1,753 Depository institutions 25,756 2,035 10,219 2,822 1,022 2,162 1,004 3,100 339 265 485 552 1,750 U.S. Treasury, general account 3,437 0 3,437 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 317 18 175 0 0 108 0 0 14 0 1 0 0 Deferred availability cash items 3,598 184 0 445 637 283 328 332 66 276 298 183 565 Other liabilities and accrued dividends (2) 3,992 171 1,376 185 194 470 388 306 153 110 132 178 330 Total liabilities 854,881 36,783 310,430 38,628 34,644 70,950 85,432 77,548 29,427 17,239 30,990 33,709 89,102 Capital Capital paid in 19,551 1,087 4,903 1,811 1,322 5,182 1,612 1,259 181 359 198 256 1,380 Surplus 18,471 1,050 4,637 1,814 1,291 4,997 1,425 815 180 355 194 364 1,350 Other capital 2,590 106 787 75 98 328 307 547 39 32 40 53 177 Total liabilities and capital 895,493 39,026 320,757 42,327 37,355 81,457 88,776 80,169 29,827 17,984 31,423 34,382 92,009 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 Apr 9, 2008 Federal Reserve notes outstanding 986,521 Less: Notes held by F.R. Banks not subject to collateralization 207,620 Federal Reserve notes to be collateralized 778,902 Collateral held against Federal Reserve notes 778,902 Gold certificate account 11,037 Special drawing rights certificate account 2,200 U.S. Treasury and agency securities pledged (1) 641,294 Other assets pledged 124,371 Memo: Total U.S. Treasury and agency securities (1) 680,114 Less: face value of securities under reverse repurchase agreements 38,820 U.S. Treasury and agency securities eligible to be pledged 641,294 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.