FEDERAL RESERVE Statistical Release

H.4.1
Factors Affecting Reserve Balances of Depository Institutions and
Condition Statement of Federal Reserve Banks
                                                                                               May 24, 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 23, 2007 May 16, 2007 May 24, 2006 May 23, 2007
Federal Reserve Banks

Reserve Bank Credit                                         850,099    +   2,252    +  27,269      859,206
 Securities held outright                                   790,153    +      79    +  29,704      790,182       
    U.S. Treasury (1)                                       790,153    +      79    +  29,704      790,182
       Bills (2)                                            277,019            0    +   1,649      277,019
       Notes and bonds, nominal (2)                         474,672            0    +  15,740      474,672
       Notes and bonds, inflation-indexed (2)                34,459            0    +  11,813       34,459
       Inflation compensation (3)                             4,003    +      78    +     502        4,032
    Federal agency (2)                                            0            0            0            0      
 Repurchase agreements(4)                                    22,071    +   4,035    -     786       31,250
 Loans to depository institutions                               142    +      58    -      32          118
    Primary credit                                               42    +      40    +      21            0
    Secondary credit                                              0            0            0            0
    Seasonal credit                                             101    +      19    -      51          118
 Float                                                         -935    +     120    -   1,149       -1,173
 Other Federal Reserve assets                                38,667    -   2,041    -     470       38,829
Gold stock                                                   11,041            0            0       11,041
Special drawing rights certificate account                    2,200            0            0        2,200
Treasury currency outstanding (5)                            38,469    +      14    +     500       38,469
       
Total factors supplying reserve funds                       901,810    +   2,266    +  27,769      910,916
                                                                   
Currency in circulation(5)                                  808,845    -     227    +  15,002      811,394
Reverse repurchase agreements (6)                            32,215    -      83    +   8,997       32,618
   Foreign official and international accounts               32,215    +     131    +   8,997       32,618
   Dealers                                                        0    -     214            0            0
Treasury cash holdings                                          266    +      30    +      81          280
Deposits with F.R.Banks, other than reserve balances         11,751    +     453    -   1,466       11,141       
  U.S. Treasury, general account                              4,913    +     462    -     563        4,312
  Foreign official                                               94            0    +       6           93
  Service-related                                             6,469    -       1    -     896        6,469
     Required clearing balances                               6,469    -       1    -     896        6,469
     Adjustments to compensate for float                          0            0            0            0
  Other                                                         275    -       9    -      13          266
Other liabilities and capital                                39,060    +      79    +   5,554       38,750

Total factors, other than reserve balances,                                        
   absorbing reserve funds                                  892,137    +     251    +  28,168      894,183

Reserve balances with Federal Reserve Banks                   9,673    +   2,015    -     399       16,734
                                                                

Memo (off-balance-sheet items):
  Marketable securities held in custody for foreign
         official and international accounts(2,7)         1,944,736    +   4,766    + 328,170    1,948,912
     U.S. Treasury                                        1,221,737    -   2,996    + 104,637    1,223,577
     Federal agency                                         722,999    +   7,762    + 223,534      725,336
  Securities lent to dealers                                  4,156    +     632    +   2,820        4,239   


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 23, 2007     May 16, 2007     May 24, 2006

Assets
Gold certificate account                                        11,037                0                0
Special drawing rights certificate account                       2,200                0                0
Coin                                                               905        -      44        +     162
Securities, repurchase agreements, and loans                   821,550        +  13,354        +  36,493
   Securities held outright                                    790,182        +      79        +  27,804
      U.S. Treasury (1)                                        790,182        +      79        +  27,804       
         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)                              4,032        +      79        +     519
      Federal agency (2)                                             0                0                0
   Repurchase agreements (4)                                    31,250        +  13,250        +   8,750    
   Loans                                                           118        +      25        -      61
Items in process of collection                      (994)        3,135        +     612        -   2,275
Bank premises                                                    2,014        +       9        +     178
Other assets (5)                                                36,835        +     418        -     419
      Total assets                                  (994)      877,676        +  14,350        +  34,139
                          
Liabilities
Federal Reserve notes net of FR Bank holdings                  774,106        +   1,183        +  14,826
Reverse repurchase agreements (6)                               32,618        +     172        +   9,815
Deposits                                              (0)       27,894        +  12,180        +   5,014       
  Depository institutions                                       23,223        +  12,005        +   5,869
  U.S. Treasury, general account                                 4,312        +     187        -     876
  Foreign official                                                  93                0        +       8
  Other                                               (0)          266        -      13        +      14
Deferred availability cash items                    (994)        4,308        +     633        -   1,119
Other liabilities and accrued dividends (7)                      5,920        +      26        +   1,031
      Total liabilities                             (994)      844,847        +  14,195        +  29,568
                          
Capital Accounts
Capital paid in                                                 16,021        +      38        +   2,155
Surplus                                                         15,374                0        +   2,473
Other capital accounts                                           1,434        +     117        -      57
      Total capital                                             32,829        +     154        +   4,571


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 23, 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             115       69,193   +   2,353            0           0       31,250       32,618
16 days to 90 days           3      164,924   +  11,065            0           0            0            0
91 days to 1 year            0      169,907   -  13,413            0           0     ------      ------
Over 1 to 5 years     ------        229,490   +      24            0           0     ------      ------
Over 5 to 10 years    ------         74,477   +   7,536            0           0     ------      ------
Over 10 years         ------         82,190   -   7,486            0           0     ------      ------
                   		 	
All                        118      790,182   +      79            0           0       31,250      32,618

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 23, 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                                             905         35         56         59         91         84        102        108         41         39         70         87        132
Securities, repurchase agreements,
      and loans                              821,550     37,863    297,438     36,340     33,616     71,171     76,189     68,939     26,283     16,411     26,605     36,093     94,602
   Securities held outright                  790,182     36,416    286,123     34,958     32,337     68,463     73,288     66,278     25,255     15,766     25,579     34,718     91,002
      U.S. Treasury (1)                      790,182     36,416    286,123     34,958     32,337     68,463     73,288     66,278     25,255     15,766     25,579     34,718     91,002
         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)                  513,163     23,650    185,815     22,703     21,000     44,462     47,595     43,042     16,401     10,239     16,612     22,547     59,099
         Federal agency (2)                        0          0          0          0          0          0          0          0          0          0          0          0          0
      Repurchase agreements(4)                31,250      1,440     11,316      1,383      1,279      2,708      2,898      2,621        999        624      1,012      1,373      3,599
      Loans                                      118          7          0          0          0          0          3         40         29         22         14          3          1
Items in process of collection                 4,128        153        -19        643        467        257        297        380        549        319        442        -65        705
Bank premises                                  2,014        117        212         57        156        172        232        207         90        115        201        260        195
Other assets(5)                               36,835      1,216     11,381      3,230      2,120      6,962      3,126      2,381        711        689        718        952      3,349
Interdistrict settlement account                   0    - 2,461    + 1,742    - 1,751    - 4,034    +   593    + 6,047    +    99    -   254    -   313    + 1,129    + 1,795    - 2,592
          Total Assets                       878,670     37,488    315,737     39,117     32,947     80,254     87,277     73,228     27,816     17,494     29,566     39,834     97,911

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 23, 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             970,652     37,975    342,853     39,277     35,832     78,534    107,986     80,547     29,448     17,314     30,480     57,628    112,778
  Less: notes held by F.R. Banks              196,546      4,370     62,911      6,783      9,056     13,516     29,729     14,258      3,706      2,550      3,633     21,457     24,576
    Federal Reserve notes, net                774,106     33,605    279,942     32,494     26,777     65,018     78,257     66,289     25,742     14,764     26,847     36,170     88,202
Reverse repurchase agreements (1)              32,618      1,503     11,811      1,443      1,335      2,826      3,025      2,736      1,042        651      1,056      1,433      3,756
Deposits                                       27,894        995     13,213        559      1,613      3,142      2,097      1,472        341        981        519        991      1,971
  Depository institutions                      23,223        986      8,662        553      1,609      3,057      2,093      1,469        338        980        517        990      1,968
  U.S. Treasury, general account                4,312          0      4,312          0          0          0          0          0          0          0          0          0          0
  Foreign official                                 93          1         63          5          3         11          3          2          0          1          0          1          3
  Other                                           266          9        176          1          1         74          0          0          3          0          1          0          0
Deferred availability cash items                5,302        286        113        688        729        378        624        417        110        294        554        376        734
Other liabilities and accrued                 
  dividends (2)                                 5,920        259      1,830        294        282        782        567        483        214        156        198        277        579
   
    Total liabilities                         845,840     36,648    306,910     35,477     30,736     72,145     84,570     71,396     27,450     16,846     29,174     39,246     95,243
                              
Capital                    
Capital paid in                                16,021        403      4,281      1,807      1,099      3,979      1,319        887        172        318        184        278      1,294
Surplus                                        15,374        396      3,771      1,810      1,087      4,095      1,277        859        166        276        176        213      1,247
Other capital                                   1,434         41        775         22         26         35        111         86         29         55         32         96        127
     Total liabilities and capital            878,670     37,488    315,737     39,117     32,947     80,254     87,277     73,228     27,816     17,494     29,566     39,834     97,911
                              

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 23, 2007
              
Federal Reserve notes outstanding             970,652
   Less: Notes held by F.R. Banks
         not subject to collateralization     196,546
      Federal Reserve Notes to be
         collateralized                       774,106 
Collateral held against Federal Reserve            
   notes                                      774,106
   Gold certificate account                    11,037
   Special drawing rights                 
     certificate account                        2,200
   U.S. Treasury and agency securities   
     pledged (1)                              760,869
   Other assets pledged                             0

Memo:
Total U.S. Treasury and agency 
       securities (1)                         821,432
   Less:face value of securities under
         reverse repurchase agreements         32,664
      U.S. Treasury and agency securities
             eligible to be pledged           788,768
   

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.