Reserve Bank credit, related items, and

reserve balances of depository institutions

at 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. Treasury1 728,182 - 12,429 - 50,720 728,203

Bills2 215,360 - 12,481 - 61,659 215,360

Notes and bonds, nominal2 470,984 0 + 3,120 470,984

Notes and bonds, inflation-indexed2 36,911 0 + 6,806 36,911

Inflation compensation3 4,928 + 52 + 1,013 4,948

Federal agency2 0 0 0 0

Repurchase agreements4 33,036 - 6,714 + 6,465 30,500

Term auction credit 40,000 0 + 40,000 40,000

Other loans to depository institutions 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 outstanding5 38,835 + 14 + 617 38,835

Total factors supplying reserve funds 921,288 - 22,518 + 25,201 918,247

Currency in circulation5 822,728 - 6,487 + 10,279 819,171

Reverse repurchase agreements6 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 accounts2,7 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

FEDERAL RESERVE statistical release

 January 10, 2008

H.4.1

Factors Affecting Reserve Balances of Depository Institutions and

Condition Statement of Federal Reserve Banks

1. Factors Affecting Reserve Balances of Depository Institutions

Millions of dollars

Averages of daily figures

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.

Change from week ended Wednesday

 Jan 9, 2008 Week ended

 Jan 9, 2008 Jan 2, 2008 Jan 10, 2007
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. 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.

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. Treasury1 728,203 - 12,424 - 50,695

Bills2 215,360 - 12,481 - 61,659

Notes and bonds, nominal2 470,984 0 + 3,120

Notes and bonds, inflation-indexed2 36,911 0 + 6,806

Inflation compensation3 4,948 + 56 + 1,037

Federal agency2 0 0 0

Repurchase agreements4 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 assets5 65,064 + 353 + 27,645

Total assets (569) 883,999 - 41,702 + 25,310

Liabilities

Federal Reserve notes, net of F.R. Bank holdings 781,803 - 9,881 + 8,857

Reverse repurchase agreements6 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 dividends7 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

H.4.1

2. Consolidated Statement of Condition of All Federal Reserve Banks

Millions of dollars

Change since

Wednesday

 Jan 10, 2007

Eliminations from

consolidation Wednesday

 Jan 9, 2008

Wednesday

 Jan 2, 2008

3. Maturity Distribution of Term Auction Credit, Other Loans, and Securities, January 9, 2008

Millions of dollars

 U.S. Treasury

securities1

Holdings Weekly

changes

Other

loans

Repurchase

agreements2

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.

Reverse

repurchase

agreements2

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 year to 5 years . . . . . . 235,773 + 22 . . . . . . 

Over 5 years 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

Assets, liabilities, and capital

Remaining maturity

Term auction

credit
H.4.1

4. Statement of Condition of Each Federal Reserve Bank on January 9, 2008Millions of dollars

Total Boston New York Philadelphia Cleveland Richmond Atlanta Chicago St. Louis Minneap

AssetsGold certificate accountSpecial drawing rights certificate acct.CoinSecurities, repurchase agreements, term

auction credit, and other loans

Securities held outright

U.S. Treasury1

Bills2Notes and bonds3

Federal agency2

Repurchase agreements4

Term auction creditOther loans

Items in process of collectionBank premisesOther assets5Interdistrict settlement account

Total assets

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 sec4. 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.

Assets, liabilities, and capital

 11,037 2,200 1,202 799,718 728,203 728,203 215,360 512,843 0 30,500 40,000 1,015 3,216 2,132 65,064 0 884,568

 449 115 35 34,966 33,560 33,560 9,925 23,635 0 1,406 0 1 118 120 1,971 - 158 37,616

 4,053 874 53 309,181 263,680 263,680 77,981 185,699 0 11,044 33,957 500 325 215 18,488 -18,827 314,362

 455 83 88 33,565 32,216 32,216 9,528 22,688 0 1,349 0 0 277 64 6,382 - 263 40,652

 428 104 114 31,061 29,800 29,800 8,813 20,987 0 1,248 12 0 485 153 4,086 + 875 37,305

 869 147 142 66,511 63,093 63,093 18,659 44,434 0 2,643 775 0 152 182 14,254 + 1,694 83,950

 1,117 166 157 70,395 67,539 67,539 19,974 47,565 0 2,829 25 2 259 230 5,496 + 2,039 79,858

 903 212 139 64,718 61,079 61,079 18,064 43,016 0 2,558 1,080 0 329 205 3,987 + 8,620 79,112

 326 71 50 25,299 23,274 23,274 6,883 16,391 0 975 1,050 0 163 112 1,060 + 4,109 31,190

    15, 14, 14, 4, 10,       1, + 1, 18,
 1,007,943

 226,140 781,803 781,803 11,037 2,200 720,876 47,691 758,703 37,827 720,876

Total Boston New York Philadelphia Cleveland Richmond Atlanta Chicago St. Louis Minneap

LiabilitiesFederal Reserve notes outstanding

Less: notes held by F.R. Banks

Federal Reserve notes, net

Reverse repurchase agreements1

Deposits

Depository institutionsU.S. Treasury, general accountForeign officialOther

Deferred availability cash itemsOther liabilities and accrued

dividends2

Total liabilities

CapitalCapital paid inSurplusOther capital

Total liabilities and capital

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.

 1,007,943 226,140 781,803 37,773 18,561 12,892 5,363 98 209 3,953 5,054 847,145 18,459 18,356 607 884,568

 39,372 6,351 33,021 1,741 432 431 0 1 0 181 211 35,586 1,049 981 0 37,616

 354,059 73,757 280,303 13,677 8,904 3,315 5,363 67 159 83 1,881 304,849 4,619 4,619 276 314,362

 42,108 8,083 34,026 1,671 438 433 0 5 0 655 210 37,000 1,814 1,813 25 40,652

 39,609 8,040 31,569 1,546 862 858 0 3 1 548 223 34,748 1,291 1,266 0 37,305

 81,278 14,543 66,735 3,273 3,090 3,042 0 11 37 311 509 73,919 4,996 4,996 39 83,950

 108,091 36,464 71,626 3,503 972 968 0 3 0 379 468 76,948 1,431 1,421 58 79,858

 87,015 14,503 72,513 3,168 1,038 1,035 0 2 0 311 396 77,426 816 818 52 79,112

 33,268 4,215 29,053 1,207 278 267 0 0 11 85 186 30,809 180 180 21 31,190

 19,3 2,9 16,3 7 2 2    3 1 17,8 3 3  18,5

H.4.14. Statement of Condition of Each Federal Reserve Bank on January 9, 2008 (continued)Millions of dollars

Assets, liabilities, and capital

Federal Reserve notes outstanding

Less: Notes held by F.R. Banks

not subject to collateralization

Federal Reserve notes to be collateralized

Collateral held against Federal Reserve notes

Gold certificate accountSpecial drawing rights certificate accountU.S. Treasury and agency securities pledged1Other assets pledged

Memo:Total U.S. Treasury and agency securities1

Less: face value of securities under

reverse repurchase agreements

U.S. Treasury and agency securities

eligible to be pledged

5. Collateral Held against Federal Reserve Notes:Federal Reserve Agents' AccountsMillions of dollarsFederal Reserve notes and collateral Wednesday

 Jan 9, 2008

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 ofinflation-indexed securities, and cash value of repurchase agreements.