Reserve Bank credit, related items, and

reserve balances of depository institutions

at Federal Reserve Banks

Reserve Bank credit 867,536 - 1,669 + 21,540 878,965

Securities held outright 728,238 + 56 - 50,653 728,259

U.S. Treasury1 728,238 + 56 - 50,653 728,259

Bills2 215,360 0 - 61,659 215,360

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

Notes and bonds, inflation-indexed2 37,068 + 157 + 6,825 37,463

Inflation compensation3 4,826 - 102 + 1,061 4,452

Federal agency2 0 0 0 0

Repurchase agreements4 31,321 - 1,715 + 3,821 39,000

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

Other loans to depository institutions 1,236 - 281 + 952 5,567

Primary credit 1,230 - 282 + 965 5,557

Secondary credit 0 0 0 0

Seasonal credit 6 + 1 - 13 10

Float -1,044 - 313 - 849 -1,225

Other Federal Reserve assets 67,784 + 582 + 28,268 67,364

Gold stock 11,041 0 0 11,041

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

Treasury currency outstanding5 38,849 + 14 + 619 38,849

Total factors supplying reserve funds 919,626 - 1,656 + 22,160 931,055

Currency in circulation5 813,618 - 9,110 + 5,744 812,825

Reverse repurchase agreements6 38,568 - 487 + 8,082 41,079

Foreign official and international accounts 38,568 - 487 + 8,082 41,079

Dealers 0 0 0 0

Treasury cash holdings 272 + 8 + 30 286

Deposits with F.R. Banks, other than reserve balances 12,225 + 83 + 224 12,731

U.S. Treasury, general account 5,171 + 25 + 485 5,674

Foreign official 100 - 2 + 10 97

Service-related 6,651 0 - 264 6,651

Required clearing balances 6,651 0 - 264 6,651

Adjustments to compensate for float 0 0 0 0

Other 303 + 60 - 7 309

Other liabilities and capital 43,258 + 380 + 6,555 42,632

Total factors, other than reserve balances,

absorbing reserve funds 907,942 - 9,125 + 20,637 909,553

Reserve balances with Federal Reserve Banks 11,684 + 7,470 + 1,523 21,502

Memo (off-balance-sheet items):

Marketable securities held in custody for foreign

 official and international accounts2,7 2,071,675 + 14,426 + 299,224 2,082,535

U.S. Treasury 1,238,967 + 7,129 + 71,155 1,245,684

Federal agency 832,708 + 7,297 + 228,069 836,851

Securities lent to dealers 7,073 - 2,613 + 5,890 6,505

FEDERAL RESERVE statistical release

 January 17, 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 16, 2008 Week ended

 Jan 16, 2008 Jan 9, 2008 Jan 17, 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 1,246 + 44 + 338

Securities, repurchase agreements, term auction

credit, and other loans 812,826 + 13,108 + 12,433

Securities held outright 728,259 + 56 - 50,628

U.S. Treasury1 728,259 + 56 - 50,628

Bills2 215,360 0 - 61,659

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

Notes and bonds, inflation-indexed2 37,463 + 552 + 6,876

Inflation compensation3 4,452 - 496 + 1,035

Federal agency2 0 0 0

Repurchase agreements4 39,000 + 8,500 + 19,250

Term auction credit 40,000 0 + 40,000

Other loans 5,567 + 4,552 + 3,811

Items in process of collection (663) 2,062 - 585 - 7,270

Bank premises 2,132 0 + 188

Other assets5 65,327 + 263 + 27,921

Total assets (663) 896,830 + 12,831 + 33,611

Liabilities

Federal Reserve notes, net of F.R. Bank holdings 775,503 - 6,300 + 5,845

Reverse repurchase agreements6 41,079 + 3,306 + 10,024

Deposits (0) 34,328 + 15,767 + 14,686

Depository institutions 28,248 + 15,356 + 14,535

U.S. Treasury, general account 5,674 + 311 + 141

Foreign official 97 - 1 + 7

Other (0) 309 + 100 + 2

Deferred availability cash items (663) 3,287 - 97 - 3,101

Other liabilities and accrued dividends7 5,068 + 14 - 434

Total liabilities (663) 859,267 + 12,691 + 27,021

Capital accounts

Capital paid in 18,448 - 11 + 3,116

Surplus 18,417 + 61 + 3,351

Other capital accounts 698 + 91 + 123

Total capital 37,563 + 141 + 6,590

H.4.1

2. Consolidated Statement of Condition of All Federal Reserve Banks

Millions of dollars

Change since

Wednesday

 Jan 17, 2007

Eliminations from

consolidation Wednesday

 Jan 16, 2008

Wednesday

 Jan 9, 2008

3. Maturity Distribution of Term Auction Credit, Other Loans, and Securities, January 16, 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 40,000 5,567 43,205 + 3,476 39,000 41,079

16 days to 90 days 0 0 131,419 - 5,777 0 0

91 days to 1 year . . . 0 148,990 + 4,287 . . . . . . 

Over 1 year to 5 years . . . . . . 231,397 - 4,376 . . . . . . 

Over 5 years to 10 years . . . . . . 81,969 + 9 . . . . . . 

Over 10 years . . . . . . 91,278 + 2,435 . . . . . . 

All 40,000 5,567 728,259 + 56 39,000 41,079

Assets, liabilities, and capital

Remaining maturity

Term auction

credit
H.4.1

4. Statement of Condition of Each Federal Reserve Bank on January 16, 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 1,246 812,826 728,259 728,259 215,360 512,899 0 39,000 40,000 5,567 2,726 2,132 65,327 0 897,494

 449 115 39 35,366 33,562 33,562 9,925 23,637 0 1,797 0 6 137 120 1,993 + 983 39,201

 4,053 874 58 315,279 263,701 263,701 77,981 185,719 0 14,122 33,957 3,500 128 215 18,566 -17,226 321,946

 455 83 91 33,945 32,218 32,218 9,528 22,691 0 1,725 0 1 218 64 6,382 - 670 40,568

 428 104 119 31,561 29,803 29,803 8,813 20,989 0 1,596 12 150 502 153 4,104 + 698 37,669

 869 147 148 68,524 63,098 63,098 18,659 44,439 0 3,379 775 1,272 95 182 14,332 - 1,826 82,470

 1,117 166 164 71,189 67,544 67,544 19,974 47,570 0 3,617 25 3 181 230 5,478 + 2,231 80,755

 903 212 142 65,439 61,084 61,084 18,064 43,020 0 3,271 1,080 4 287 205 4,011 + 9,399 80,598

 326 71 52 25,573 23,276 23,276 6,883 16,393 0 1,246 1,050 1 75 112 1,061 + 4,244 31,514

    15, 14, 14, 4, 10,       1, + 1, 18,
 1,006,079

 230,576 775,503 775,503 11,037 2,200 726,122 36,144 767,259 41,137 726,122

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.

 1,006,079 230,576 775,503 41,079 34,328 28,248 5,674 97 309 3,951 5,068 859,930 18,448 18,417 698 897,494

 39,630 6,594 33,035 1,893 1,779 1,775 0 1 3 219 208 37,134 1,049 1,016 1 39,201

 352,243 73,130 279,113 14,875 16,451 10,537 5,674 67 173 98 1,900 312,437 4,619 4,619 272 321,946

 42,303 8,717 33,586 1,817 702 676 0 5 21 577 208 36,891 1,814 1,813 49 40,568

 39,881 8,899 30,981 1,681 1,668 1,684 0 3 -18 513 221 35,065 1,291 1,291 22 37,669

 81,224 15,224 66,001 3,559 2,028 1,900 0 11 117 287 508 72,384 4,996 4,996 95 82,470

 107,687 36,887 70,800 3,810 2,422 2,418 0 3 0 391 476 77,899 1,431 1,425 1 80,755

 86,936 14,921 72,015 3,446 2,689 2,686 0 2 0 344 402 78,896 816 814 72 80,598

 33,281 4,416 28,865 1,313 681 670 0 0 11 88 183 31,130 180 180 24 31,514

 19,3 3,0 16,3 8 5 5    2 1 18,0 3 3  18,8

H.4.14. Statement of Condition of Each Federal Reserve Bank on January 16, 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 16, 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.