Reserve Bank credit, related items, and

reserve balances of depository institutions

at Federal Reserve Banks

Reserve Bank credit 861,489 - 6,047 + 24,399 861,216

Securities held outright 723,298 - 4,940 - 55,582 723,315

U.S. Treasury1 723,298 - 4,940 - 55,582 723,315

Bills2 210,360 - 5,000 - 66,659 210,360

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

Notes and bonds, inflation-indexed2 37,463 + 395 + 6,876 37,463

Inflation compensation3 4,491 - 335 + 1,081 4,508

Federal agency2 0 0 0 0

Repurchase agreements4 21,500 - 9,821 + 2,893 22,000

Term auction credit 50,000 + 10,000 + 50,000 50,000

Other loans to depository institutions 752 - 484 + 433 20

Primary credit 744 - 486 + 446 14

Secondary credit 0 0 0 0

Seasonal credit 8 + 2 - 13 6

Float -1,271 - 227 - 726 -1,546

Other Federal Reserve assets 67,210 - 574 + 27,381 67,427

Gold stock 11,041 0 0 11,041

Special drawing rights certificate account 2,200 0 0 2,200

Treasury currency outstanding5 38,863 + 14 + 621 38,863

Total factors supplying reserve funds 913,593 - 6,033 + 25,021 913,320

Currency in circulation5 812,230 - 1,388 + 8,924 811,982

Reverse repurchase agreements6 39,705 + 1,137 + 10,295 37,495

Foreign official and international accounts 39,705 + 1,137 + 10,295 37,495

Dealers 0 0 0 0

Treasury cash holdings 288 + 16 + 68 304

Deposits with F.R. Banks, other than reserve balances 12,441 + 216 + 75 11,951

U.S. Treasury, general account 5,335 + 164 + 223 4,871

Foreign official 102 + 2 - 7 97

Service-related 6,679 + 28 - 158 6,679

Required clearing balances 6,679 + 28 - 158 6,679

Adjustments to compensate for float 0 0 0 0

Other 325 + 22 + 17 304

Other liabilities and capital 42,516 - 742 + 5,492 42,151

Total factors, other than reserve balances,

absorbing reserve funds 907,181 - 761 + 24,855 903,883

Reserve balances with Federal Reserve Banks 6,412 - 5,272 + 166 9,437

Memo (off-balance-sheet items):

Marketable securities held in custody for foreign

 official and international accounts2,7 2,095,767 + 24,092 + 316,456 2,103,433

U.S. Treasury 1,251,102 + 12,135 + 81,922 1,250,167

Federal agency 844,665 + 11,957 + 234,534 853,265

Securities lent to dealers 10,433 + 3,360 + 8,766 10,594

FEDERAL RESERVE statistical release

 January 24, 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 23, 2008 Week ended

 Jan 23, 2008 Jan 16, 2008 Jan 24, 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 1,294 + 48 + 310

Securities, repurchase agreements, term auction

credit, and other loans 795,335 - 17,491 - 2,566

Securities held outright 723,315 - 4,944 - 55,560

U.S. Treasury1 723,315 - 4,944 - 55,560

Bills2 210,360 - 5,000 - 66,659

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

Notes and bonds, inflation-indexed2 37,463 0 + 6,876

Inflation compensation3 4,508 + 56 + 1,102

Federal agency2 0 0 0

Repurchase agreements4 22,000 - 17,000 + 3,000

Term auction credit 50,000 + 10,000 + 50,000

Other loans 20 - 5,547 - 6

Items in process of collection (1,148) 2,688 + 626 - 430

Bank premises 2,137 + 5 + 188

Other assets5 65,156 - 171 + 26,760

Total assets (1,148) 879,847 - 16,983 + 24,262

Liabilities

Federal Reserve notes, net of F.R. Bank holdings 774,712 - 791 + 8,874

Reverse repurchase agreements6 37,495 - 3,584 + 8,076

Deposits (0) 21,255 - 13,073 + 2,242

Depository institutions 15,984 - 12,264 + 2,776

U.S. Treasury, general account 4,871 - 803 - 541

Foreign official 97 0 + 7

Other (0) 304 - 5 + 1

Deferred availability cash items (1,148) 4,233 + 946 + 22

Other liabilities and accrued dividends7 4,406 - 662 - 1,145

Total liabilities (1,148) 842,102 - 17,165 + 18,069

Capital accounts

Capital paid in 18,465 + 17 + 3,133

Surplus 18,444 + 27 + 3,352

Other capital accounts 836 + 138 - 292

Total capital 37,745 + 182 + 6,193

H.4.1

2. Consolidated Statement of Condition of All Federal Reserve Banks

Millions of dollars

Change since

Wednesday

 Jan 24, 2007

Eliminations from

consolidation Wednesday

 Jan 23, 2008

Wednesday

 Jan 16, 2008

3. Maturity Distribution of Term Auction Credit, Other Loans, and Securities, January 23, 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 20 46,545 + 3,340 22,000 37,495

16 days to 90 days 30,000 0 123,121 - 8,298 0 0

91 days to 1 year . . . 0 148,953 - 37 . . . . . . 

Over 1 year to 5 years . . . . . . 231,414 + 17 . . . . . . 

Over 5 years to 10 years . . . . . . 84,395 + 2,426 . . . . . . 

Over 10 years . . . . . . 88,887 - 2,391 . . . . . . 

All 50,000 20 723,315 - 4,944 22,000 37,495

Assets, liabilities, and capital

Remaining maturity

Term auction

credit
H.4.1

4. Statement of Condition of Each Federal Reserve Bank on January 23, 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 1,294 795,335 723,315 723,315 210,360 512,955 0 22,000 50,000 20 3,836 2,137 65,156 0 880,995

 449 115 42 34,368 33,335 33,335 9,695 23,640 0 1,014 20 0 139 120 1,987 + 277 37,498

 4,053 874 61 305,525 261,910 261,910 76,171 185,740 0 7,966 35,649 0 333 215 18,560 -17,714 311,907

 455 83 94 32,978 32,000 32,000 9,306 22,693 0 973 0 6 451 64 6,341 - 348 40,118

 428 104 127 31,593 29,600 29,600 8,609 20,992 0 900 1,093 0 449 153 4,088 - 282 36,660

 869 147 152 65,336 62,670 62,670 18,226 44,444 0 1,906 760 0 127 182 14,233 + 2,216 83,261

 1,117 166 166 72,162 67,086 67,086 19,510 47,575 0 2,040 3,035 0 326 230 5,488 + 3,265 82,919

 903 212 145 63,422 60,669 60,669 17,644 43,025 0 1,845 905 2 315 205 4,000 + 9,652 78,854

 326 71 54 24,871 23,118 23,118 6,723 16,395 0 703 1,050 0 155 114 1,068 + 4,188 30,846

    16, 14, 14, 4, 10,   1,    1, +  18,
 1,004,645

 229,932 774,712 774,712 11,037 2,200 707,795 53,680 745,315 37,520 707,795

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.

 1,004,645 229,932 774,712 37,495 21,255 15,984 4,871 97 304 5,381 4,406 843,250 18,465 18,444 836 880,995

 39,182 6,639 32,542 1,728 668 653 0 1 13 254 209 35,401 1,049 1,044 4 37,498

 351,797 72,634 279,162 13,577 8,135 3,026 4,871 67 171 206 1,291 302,371 4,619 4,619 299 311,907

 42,084 8,888 33,196 1,659 447 441 0 5 2 938 210 36,450 1,814 1,813 41 40,118

 39,673 9,121 30,552 1,534 1,044 1,040 0 3 1 690 222 34,042 1,291 1,291 36 36,660

 80,411 15,112 65,299 3,249 3,717 3,602 0 11 104 411 519 73,194 4,996 4,996 74 83,261

 111,027 36,858 74,169 3,478 1,367 1,364 0 3 0 477 410 79,900 1,448 1,425 147 82,919

 86,249 14,818 71,431 3,145 1,751 1,749 0 2 0 434 400 77,161 816 814 61 78,854

 32,976 4,426 28,550 1,198 332 321 0 0 11 196 187 30,464 180 180 22 30,846

 19,2 3,0 16,1 7 2 2    2 1 17,6 3 3  18,3

H.4.14. Statement of Condition of Each Federal Reserve Bank on January 23, 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 23, 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.