Reserve Bank credit, related items, and

reserve balances of depository institutions

at Federal Reserve Banks

Reserve Bank credit 891,743 + 18,231 + 32,341 908,003

Securities held outright 740,611 - 13,994 - 38,305 740,627

U.S. Treasury1 740,611 - 13,994 - 38,305 740,627

Bills2 227,841 - 14,015 - 49,178 227,841

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 4,876 + 21 + 948 4,892

Federal agency2 0 0 0 0

Repurchase agreements4 39,750 + 214 - 1,107 56,750

Term auction credit 40,000 + 20,000 + 40,000 40,000

Other loans to depository institutions 5,787 + 959 + 5,554 4,923

Primary credit 5,770 + 968 + 5,590 4,918

Secondary credit 0 0 0 0

Seasonal credit 16 - 10 - 38 5

Float -1,017 - 115 - 807 -1,047

Other Federal Reserve assets 66,612 + 11,167 + 27,007 66,750

Gold stock 11,041 0 0 11,041

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

Treasury currency outstanding5 38,821 + 14 + 615 38,821

Total factors supplying reserve funds 943,805 + 18,245 + 32,957 960,065

Currency in circulation5 829,215 + 3,593 + 9,412 829,078

Reverse repurchase agreements6 41,873 + 2,753 + 12,328 40,909

Foreign official and international accounts 41,873 + 2,753 + 12,328 40,909

Dealers 0 0 0 0

Treasury cash holdings 259 + 11 + 6 263

Deposits with F.R. Banks, other than reserve balances 16,106 + 4,200 + 3,373 14,291

U.S. Treasury, general account 8,693 + 3,783 + 3,666 7,277

Foreign official 97 0 + 3 98

Service-related 6,615 0 - 242 6,615

Required clearing balances 6,615 0 - 227 6,615

Adjustments to compensate for float 0 0 - 14 0

Other 701 + 418 - 54 302

Other liabilities and capital 43,209 + 410 + 6,897 42,466

Total factors, other than reserve balances,

absorbing reserve funds 930,663 + 10,969 + 32,017 927,007

Reserve balances with Federal Reserve Banks 13,141 + 7,276 + 939 33,058

Memo (off-balance-sheet items):

Marketable securities held in custody for foreign

 official and international accounts2,7 2,060,887 + 4,476 + 297,857 2,063,762

U.S. Treasury 1,230,841 + 4,657 + 68,552 1,233,372

Federal agency 830,046 - 181 + 229,305 830,390

Securities lent to dealers 16,504 + 2,374 + 9,157 18,110

FEDERAL RESERVE statistical release

 January 3, 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 2, 2008 Week ended

 Jan 2, 2008 Dec 26, 2007 Jan 3, 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 1,169 - 4 + 372

Securities, repurchase agreements, term auction

credit, and other loans 842,300 + 20,653 + 22,379

Securities held outright 740,627 - 13,985 - 38,283

U.S. Treasury1 740,627 - 13,985 - 38,283

Bills2 227,841 - 14,015 - 49,178

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

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

Inflation compensation3 4,892 + 30 + 970

Federal agency2 0 0 0

Repurchase agreements4 56,750 + 14,250 + 17,000

Term auction credit 40,000 + 20,000 + 40,000

Other loans 4,923 + 388 + 3,661

Items in process of collection (871) 2,150 + 269 - 3,322

Bank premises 2,134 + 6 + 189

Other assets5 64,711 + 10,959 + 27,559

Total assets (871) 925,701 + 31,883 + 47,177

Liabilities

Federal Reserve notes, net of F.R. Bank holdings 791,684 - 117 + 10,337

Reverse repurchase agreements6 40,909 + 367 + 11,167

Deposits (-6) 47,444 + 31,086 + 20,915

Depository institutions 39,769 + 28,330 + 19,725

U.S. Treasury, general account 7,277 + 2,748 + 1,121

Foreign official 98 + 1 + 8

Other (-6) 302 + 9 + 63

Deferred availability cash items (878) 3,197 + 981 - 1,643

Other liabilities and accrued dividends7 5,249 - 540 - 212

Total liabilities (871) 888,484 + 31,778 + 40,564

Capital accounts

Capital paid in 18,446 + 93 + 3,118

Surplus 18,302 + 2,840 + 3,273

Other capital accounts 470 - 2,827 + 222

Total capital 37,217 + 105 + 6,613

H.4.1

2. Consolidated Statement of Condition of All Federal Reserve Banks

Millions of dollars

Change since

Wednesday

 Jan 3, 2007

Eliminations from

consolidation Wednesday

 Jan 2, 2008

Wednesday

 Dec 26, 2007

3. Maturity Distribution of Term Auction Credit, Other Loans, and Securities, January 2, 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 4,918 39,862 - 6,196 56,750 40,909

16 days to 90 days 20,000 5 143,717 - 3,068 0 0

91 days to 1 year . . . 0 150,526 - 7,088 . . . . . . 

Over 1 year to 5 years . . . . . . 235,751 + 2,349 . . . . . . 

Over 5 years to 10 years . . . . . . 81,950 + 5 . . . . . . 

Over 10 years . . . . . . 88,821 + 12 . . . . . . 

All 40,000 4,923 740,627 - 13,985 56,750 40,909

Assets, liabilities, and capital

Remaining maturity

Term auction

credit
H.4.1

4. Statement of Condition of Each Federal Reserve Bank on January 2, 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 1,169 842,300 740,627 740,627 227,841 512,787 0 56,750 40,000 4,923 3,021 2,134 64,711 0 926,573

 449 115 36 36,748 34,132 34,132 10,500 23,632 0 2,615 0 0 177 120 1,953 + 683 40,281

 4,053 874 54 327,448 268,179 268,179 82,500 185,679 0 20,549 33,957 4,763 78 214 18,328 -23,300 327,749

 455 83 88 35,276 32,766 32,766 10,080 22,686 0 2,511 0 0 216 64 6,374 + 2,384 44,941

 428 104 112 32,643 30,309 30,309 9,324 20,985 0 2,322 12 0 409 153 4,073 + 1,227 39,149

 869 147 134 69,865 64,170 64,170 19,741 44,429 0 4,917 775 4 124 182 14,233 + 4,849 90,404

 1,117 166 151 73,980 68,692 68,692 21,132 47,560 0 5,263 25 0 293 230 5,449 - 84 81,301

 903 212 137 67,964 62,121 62,121 19,111 43,011 0 4,760 1,080 3 282 205 3,958 + 9,056 82,716

 326 71 50 26,535 23,671 23,671 7,282 16,389 0 1,814 1,050 0 67 115 1,041 + 3,641 31,846

    15, 14, 14, 4, 10,  1,     1, + 2, 19,
 1,009,663

 217,979 791,684 791,684 11,037 2,200 756,409 22,039 797,377 40,968 756,409

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.

 1,009,663 217,979 791,684 40,909 47,438 39,769 7,277 98 296 4,074 5,249 889,356 18,446 18,302 470 926,573

 39,260 5,806 33,455 1,885 2,531 2,456 0 1 74 193 215 38,279 1,049 953 0 40,281

 355,946 74,330 281,615 14,813 19,784 12,276 7,277 67 165 102 2,031 318,346 4,619 4,619 166 327,749

 42,019 7,578 34,440 1,810 4,207 4,202 0 5 0 601 212 41,271 1,813 1,813 44 44,941

 39,613 7,214 32,399 1,674 1,813 1,810 0 3 0 503 229 36,618 1,291 1,240 0 39,149

 81,315 13,729 67,586 3,544 8,298 8,237 0 11 50 386 503 80,317 4,996 4,996 95 90,404

 107,785 35,607 72,177 3,794 1,601 1,597 0 3 0 377 467 78,417 1,421 1,421 43 81,301

 86,964 13,533 73,431 3,431 3,351 3,348 0 2 0 432 404 81,050 814 818 34 82,716

 33,282 3,785 29,497 1,308 442 431 0 0 10 38 193 31,476 180 180 10 31,846

 19,3 2,7 16,6 8 1,1 1,1    3 1 19,1 3 3  19,8

H.4.14. Statement of Condition of Each Federal Reserve Bank on January 2, 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 2, 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.