FEDERAL RESERVE Statistical Release

H.4.1
Factors Affecting Reserve Balances of Depository Institutions and
Condition Statement of Federal Reserve Banks
                                                                                           January 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            Jan 9, 2008  Jan 2, 2008 Jan 10, 2007  Jan 9, 2008
Federal Reserve Banks

Reserve Bank Credit                                         869,212    -  22,531    +  24,583      866,171
 Securities held outright                                   728,182    -  12,429    -  50,720      728,203       
    U.S. Treasury (1)                                       728,182    -  12,429    -  50,720      728,203
       Bills (2)                                            215,360    -  12,481    -  61,659      215,360
       Notes and bonds, nominal (2)                         470,984            0    +   3,120      470,984
       Notes and bonds, inflation-indexed (2)                36,911            0    +   6,806       36,911
       Inflation compensation (3)                             4,928    +      52    +   1,013        4,948
    Federal agency (2)                                            0            0            0            0      
 Repurchase agreements(4)                                    33,036    -   6,714    +   6,465       30,500
 Term auction credit                                         40,000            0    +  40,000       40,000  
 Other loans                                                  1,517    -   4,270    +   1,478        1,015
    Primary credit                                            1,512    -   4,258    +   1,490        1,010
    Secondary credit                                              0            0            0            0
    Seasonal credit                                               5    -      11    -      11            5
 Float                                                         -724    +     293    -     462         -738
 Other Federal Reserve assets                                67,202    +     589    +  27,824       67,190
Gold stock                                                   11,041            0            0       11,041
Special drawing rights certificate account                    2,200            0            0        2,200
Treasury currency outstanding (5)                            38,835    +      14    +     617       38,835
       
Total factors supplying reserve funds                       921,288    -  22,518    +  25,201      918,247
                                                                   
Currency in circulation(5)                                  822,728    -   6,487    +  10,279      819,171
Reverse repurchase agreements (6)                            39,055    -   2,818    +   9,396       37,773
   Foreign official and international accounts               39,055    -   2,818    +   9,396       37,773
   Dealers                                                        0            0            0            0
Treasury cash holdings                                          264    +       5    +       3          270
Deposits with F.R.Banks, other than reserve balances         12,142    -   3,964    +      74       12,320       
  U.S. Treasury, general account                              5,146    -   3,547    +     349        5,363
  Foreign official                                              102    +       5    +      12           98
  Service-related                                             6,651    +      36    -     285        6,651
     Required clearing balances                               6,651    +      36    -     266        6,651
     Adjustments to compensate for float                          0            0    -      19            0
  Other                                                         243    -     458    -       2          209
Other liabilities and capital                                42,878    -     331    +   6,412       42,477

Total factors, other than reserve balances,                                        
   absorbing reserve funds                                  917,067    -  13,596    +  26,164      912,011

Reserve balances with Federal Reserve Banks                   4,221    -   8,921    -     963        6,236
                                                                

Memo (off-balance-sheet items):
  Marketable securities held in custody for foreign
         official and international accounts(2,7)         2,057,249    -   3,638    + 286,987    2,058,359
     U.S. Treasury                                        1,231,838    +     997    +  63,988    1,233,183
     Federal agency                                         825,411    -   4,635    + 222,999      825,176
  Securities lent to dealers                                  9,686    -   6,818    +   6,579        4,976   


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  Jan 9, 2008      Jan 2, 2008     Jan 10, 2007

Assets
Gold certificate account                                        11,037                0                0
Special drawing rights certificate account                       2,200                0                0
Coin                                                             1,202        +      33        +     337
Securities, repurchase agreements, term auction
      credit, and other loans                                  799,718        -  42,582        -     701
   Securities held outright                                    728,203        -  12,424        -  50,695
      U.S. Treasury (1)                                        728,203        -  12,424        -  50,695       
         Bills (2)                                             215,360        -  12,481        -  61,659
         Notes and bonds, nominal (2)                          470,984                0        +   3,120
         Notes and bonds, inflation-indexed (2)                 36,911                0        +   6,806
         Inflation compensation (3)                              4,948        +      56        +   1,037
      Federal agency (2)                                             0                0                0
   Repurchase agreements (4)                                    30,500        -  26,250        +   9,000    
   Term auction credit                                          40,000                0        +  40,000
   Other loans                                                   1,015        -   3,908        +     994
Items in process of collection                      (569)        2,647        +     497        -   2,157
Bank premises                                                    2,132        -       2        +     188
Other assets (5)                                                65,064        +     353        +  27,645
      Total assets                                  (569)      883,999        -  41,702        +  25,310
                          
Liabilities
Federal Reserve notes, net of FR Bank holdings                 781,803        -   9,881        +   8,857
Reverse repurchase agreements (6)                               37,773        -   3,136        +   8,852
Deposits                                              (0)       18,561        -  28,883        +   3,135       
  Depository institutions                                       12,892        -  26,877        +   2,785
  U.S. Treasury, general account                                 5,363        -   1,914        +     364
  Foreign official                                                  98                0        +       7
  Other                                               (0)          209        -      93        -      21
Deferred availability cash items                    (569)        3,384        +     187        -   1,666
Other liabilities and accrued dividends (7)                      5,054        -     195        -     464
      Total liabilities                             (569)      846,576        -  41,908        +  18,715
                          
Capital Accounts
Capital paid in                                                 18,459        +      13        +   3,128
Surplus                                                         18,356        +      54        +   3,325
Other capital accounts                                             607        +     137        +     141
      Total capital                                             37,422        +     205        +   6,594


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,    January 9, 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          20,000        1,010      39,729   -     133       30,500       37,773
16 days to 90 days      20,000            5     137,196   -   6,521            0            0
91 days to 1 year     ------              0     144,703   -   5,823     ------      ------
Over 1 to 5 years     ------       ------       235,773   +      22     ------      ------
Over 5 to 10 years    ------       ------        81,960   +      10     ------      ------
Over 10 years         ------       ------        88,843   +      22     ------      ------
                   		 	
All                     40,000        1,015     728,203   -  12,424       30,500       37,773

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    January 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                                           1,202         35         53         88        114        142        157        139         50         48         74        134        166
Securities, repurchase agreements, term
      auction credit, and other loans        799,718     34,966    309,181     33,565     31,061     66,511     70,395     64,718     25,299     15,138     24,565     34,735     89,586
   Securities held outright                  728,203     33,560    263,680     32,216     29,800     63,093     67,539     61,079     23,274     14,529     23,573     31,995     83,864
      U.S. Treasury (1)                      728,203     33,560    263,680     32,216     29,800     63,093     67,539     61,079     23,274     14,529     23,573     31,995     83,864
         Bills (2)                           215,360      9,925     77,981      9,528      8,813     18,659     19,974     18,064      6,883      4,297      6,971      9,462     24,802
         Notes and bonds(3)                  512,843     23,635    185,699     22,688     20,987     44,434     47,565     43,016     16,391     10,232     16,601     22,533     59,062
         Federal agency (2)                        0          0          0          0          0          0          0          0          0          0          0          0          0
      Repurchase agreements(4)                30,500      1,406     11,044      1,349      1,248      2,643      2,829      2,558        975        609        987      1,340      3,513
      Term auction credit                     40,000          0     33,957          0         12        775         25      1,080      1,050         0          0      1,400      1,701     
      Other loans                              1,015          1        500          0          0          0          2          0          0          0          5          0        508
Items in process of collection                 3,216        118        325        277        485        152        259        329        163        152        297        185        473
Bank premises                                  2,132        120        215         64        153        182        230        205        112        113        269        256        214
Other assets(5)                               65,064      1,971     18,488      6,382      4,086     14,254      5,496      3,987      1,060      1,193      1,087      1,379      5,680
Interdistrict settlement account                   0    -   158    -18,827    -   263    +   875    + 1,694    + 2,039    + 8,620    + 4,109    + 1,677    + 5,837    - 2,505    - 3,098
          Total Assets                       884,568     37,616    314,362     40,652     37,305     83,950     79,858     79,112     31,190     18,554     32,530     34,895     94,542

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    January 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

Liabilities                         
Federal Reserve notes outstanding           1,007,943     39,372    354,059     42,108     39,609     81,278    108,091     87,015     33,268     19,381     33,647     57,310    112,805
  Less: notes held by F.R. Banks              226,140      6,351     73,757      8,083      8,040     14,543     36,464     14,503      4,215      2,993      3,619     25,921     27,653
    Federal Reserve notes, net                781,803     33,021    280,303     34,026     31,569     66,735     71,626     72,513     29,053     16,388     30,027     31,390     85,152
Reverse repurchase agreements (1)              37,773      1,741     13,677      1,671      1,546      3,273      3,503      3,168      1,207        754      1,223      1,660      4,350
Deposits                                       18,561        432      8,904        438        862      3,090        972      1,038        278        245        444        642      1,217
  Depository institutions                      12,892        431      3,315        433        858      3,042        968      1,035        267        244        442        642      1,214
  U.S. Treasury, general account                5,363          0      5,363          0          0          0          0          0          0          0          0          0          0
  Foreign official                                 98          1         67          5          3         11          3          2          0          1          0          1          3
  Other                                           209          0        159          0          1         37          0          0         11          0          1          0          0
Deferred availability cash items                3,953        181         83        655        548        311        379        311         85        318        258        217        608
Other liabilities and accrued                 
  dividends (2)                                 5,054        211      1,881        210        223        509        468        396        186        129        170        233        439
   
    Total liabilities                         847,145     35,586    304,849     37,000     34,748     73,919     76,948     77,426     30,809     17,833     32,121     34,142     91,766
                              
Capital                    
Capital paid in                                18,459      1,049      4,619      1,814      1,291      4,996      1,431        816        180        355        194        364      1,350
Surplus                                        18,356        981      4,619      1,813      1,266      4,996      1,421        818        180        355        194        363      1,350
Other capital                                     607          0        276         25          0         39         58         52         21         12         21         26         76
     Total liabilities and capital            884,568     37,616    314,362     40,652     37,305     83,950     79,858     79,112     31,190     18,554     32,530     34,895     94,542
                              

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
                                           Jan 9, 2008
              
Federal Reserve notes outstanding           1,007,943
   Less: Notes held by F.R. Banks
         not subject to collateralization     226,140
      Federal Reserve notes to be
         collateralized                       781,803 
Collateral held against Federal Reserve            
   notes                                      781,803
   Gold certificate account                    11,037
   Special drawing rights                 
     certificate account                        2,200
   U.S. Treasury and agency securities   
     pledged (1)                              720,876
   Other assets pledged                        47,691

Memo:
Total U.S. Treasury and agency 
       securities (1)                         758,703
   Less:face value of securities under
         reverse repurchase agreements         37,827
      U.S. Treasury and agency securities
             eligible to be pledged           720,876
   

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.