FEDERAL RESERVE Statistical Release

H.4.1
Factors Affecting Reserve Balances of Depository Institutions and
Condition Statement of Federal Reserve Banks
                                                                                           January 31, 2008
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           Jan 30, 2008 Jan 23, 2008 Jan 31, 2007 Jan 30, 2008
Federal Reserve Banks

Reserve Bank Credit                                         864,627    +   3,139    +  20,535      885,732
 Securities held outright                                   718,350    -   4,948    -  60,518      718,371       
    U.S. Treasury (1)                                       718,350    -   4,948    -  60,518      718,371
       Bills (2)                                            205,360    -   5,000    -  71,659      205,360
       Notes and bonds, nominal (2)                         470,984            0    +   3,290      470,984
       Notes and bonds, inflation-indexed (2)                37,463            0    +   6,706       37,463
       Inflation compensation (3)                             4,544    +      53    +   1,146        4,564
    Federal agency (2)                                            0            0            0            0      
 Repurchase agreements(4)                                    29,393    +   7,893    +   3,893       50,000
 Term auction credit                                         50,000            0    +  50,000       50,000  
 Other loans                                                     28    -     724    -     182           46
    Primary credit                                               25    -     719    -     164           43
    Secondary credit                                              0            0            0            0
    Seasonal credit                                               2    -       6    -      20            3
 Float                                                       -1,140    +     132    -     196       -1,122
 Other Federal Reserve assets                                67,996    +     786    +  27,538       68,437
Gold stock                                                   11,041            0            0       11,041
Special drawing rights certificate account                    2,200            0            0        2,200
Treasury currency outstanding (5)                            38,877    +      14    +     623       38,877
       
Total factors supplying reserve funds                       916,745    +   3,153    +  21,159      937,850
                                                                   
Currency in circulation(5)                                  809,883    -   2,347    +   9,075      811,506
Reverse repurchase agreements (6)                            39,481    -     224    +   7,775       39,485
   Foreign official and international accounts               39,481    -     224    +   7,775       39,485
   Dealers                                                        0            0            0            0
Treasury cash holdings                                          302    +      14    +      92          288
Deposits with F.R.Banks, other than reserve balances         11,752    -     689    -     516       12,172       
  U.S. Treasury, general account                              4,650    -     685    -     405        5,082
  Foreign official                                              101    -       1    +      11           99
  Service-related                                             6,671    -       8    -     165        6,671
     Required clearing balances                               6,671    -       8    -     165        6,671
     Adjustments to compensate for float                          0            0            0            0
  Other                                                         330    +       5    +      43          320
Other liabilities and capital                                42,703    +     187    +   5,286       42,443

Total factors, other than reserve balances,                                        
   absorbing reserve funds                                  904,121    -   3,060    +  21,712      905,894

Reserve balances with Federal Reserve Banks                  12,624    +   6,212    -     554       31,956
                                                                

Memo (off-balance-sheet items):
  Marketable securities held in custody for foreign
         official and international accounts(2,7)         2,110,355    +  14,588    + 320,162    2,118,480
     U.S. Treasury                                        1,256,281    +   5,179    +  82,978    1,263,048
     Federal agency                                         854,073    +   9,408    + 237,183      855,431
  Securities lent to dealers                                 11,509    +   1,076    +  10,220       11,461   


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 Jan 30, 2008     Jan 23, 2008     Jan 31, 2007

Assets
Gold certificate account                                        11,037                0                0
Special drawing rights certificate account                       2,200                0                0
Coin                                                             1,369        +      75        +     300
Securities, repurchase agreements, term auction
      credit, and other loans                                  818,417        +  23,082        +   6,228
   Securities held outright                                    718,371        -   4,944        -  60,492
      U.S. Treasury (1)                                        718,371        -   4,944        -  60,492       
         Bills (2)                                             205,360        -   5,000        -  71,659
         Notes and bonds, nominal (2)                          470,984                0        +   4,309
         Notes and bonds, inflation-indexed (2)                 37,463                0        +   5,687
         Inflation compensation (3)                              4,564        +      56        +   1,171
      Federal agency (2)                                             0                0                0
   Repurchase agreements (4)                                    50,000        +  28,000        +  18,000    
   Term auction credit                                          50,000                0        +  50,000
   Other loans                                                      46        +      26        -   1,280
Items in process of collection                      (546)        1,725        -     963        -   1,004
Bank premises                                                    2,140        +       3        +     178
Other assets (5)                                                66,167        +   1,011        +  27,794
      Total assets                                  (546)      903,055        +  23,208        +  33,496
                          
Liabilities
Federal Reserve notes, net of FR Bank holdings                 774,282        -     430        +   8,696
Reverse repurchase agreements (6)                               39,485        +   1,990        +   7,106
Deposits                                              (0)       43,998        +  22,743        +  13,341       
  Depository institutions                                       38,497        +  22,513        +  14,269
  U.S. Treasury, general account                                 5,082        +     211        -     971
  Foreign official                                                  99        +       2        +       9
  Other                                               (0)          320        +      16        +      35
Deferred availability cash items                    (546)        2,847        -   1,386        -   1,364
Other liabilities and accrued dividends (7)                      4,546        +     140        -   1,022
      Total liabilities                             (546)      865,158        +  23,056        +  26,758
                          
Capital Accounts
Capital paid in                                                 18,472        +       7        +   3,114
Surplus                                                         18,480        +      36        +   3,353
Other capital accounts                                             945        +     109        +     271
      Total capital                                             37,897        +     152        +   6,738


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 Term Auction Credit, Other Loans and Securities,   January 30, 2008
Millions of dollars
                   Term auction    Other      U.S. Treasury                        Reverse
Remaining maturity    credit       loans       securities (1)        Repurchase   repurchase
                                                          Weekly     agreements(2)agreements(2)
                                              Holdings    changes    
Within 15 days          50,000           40      48,770   +   2,225       50,000       39,485
16 days to 90 days           0            7     115,775   -   7,346            0            0
91 days to 1 year     ------              0     149,079   +     126     ------      ------
Over 1 to 5 years     ------       ------       231,432   +      18     ------      ------
Over 5 to 10 years    ------       ------        84,407   +      12     ------      ------
Over 10 years         ------       ------        88,909   +      22     ------      ------
                   		 	
All                     50,000           46     718,371   -   4,944       50,000       39,485

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.



4. Statement of Condition of Each Federal Reserve Bank on   January 30, 2008
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                                           1,369         47         63        101        128        162        181        152         58         54         85        148        190
Securities, repurchase agreements, term
      auction credit, and other loans        818,417     35,434    313,874     33,995     32,537     67,333     74,300     65,353     25,608     16,831     24,895     35,010     93,249
   Securities held outright                  718,371     33,107    260,120     31,781     29,398     62,241     66,627     60,255     22,960     14,333     23,254     31,563     82,732
      U.S. Treasury (1)                      718,371     33,107    260,120     31,781     29,398     62,241     66,627     60,255     22,960     14,333     23,254     31,563     82,732
         Bills (2)                           205,360      9,464     74,360      9,085      8,404     17,793     19,047     17,225      6,564      4,097      6,648      9,023     23,650
         Notes and bonds(3)                  513,011     23,643    185,760     22,696     20,994     44,448     47,581     43,030     16,396     10,236     16,607     22,540     59,081
         Federal agency (2)                        0          0          0          0          0          0          0          0          0          0          0          0          0
      Repurchase agreements(4)                50,000      2,304     18,105      2,212      2,046      4,332      4,637      4,194      1,598        998      1,619      2,197      5,758
      Term auction credit                     50,000         20     35,649          0      1,093        760      3,035        905      1,050     1,500         20      1,250      4,719     
      Other loans                                 46          3          0          2          0          0          0          0          0          0          2          0         40
Items in process of collection                 2,271         97        404         90        258        237        126        129         29        117        182        142        459
Bank premises                                  2,140        120        215         65        153        183        229        206        114        113        269        256        217
Other assets(5)                               66,167      2,024     18,934      6,407      4,137     14,390      5,577      4,065      1,083      1,212      1,120      1,421      5,798
Interdistrict settlement account                   0    -   107    - 6,912    - 1,555    -   971    -   127    + 1,275    + 8,800    + 3,361    + 1,640    + 5,275    - 2,582    - 8,097
          Total Assets                       903,601     38,180    331,505     39,640     36,773     83,193     82,971     79,821     30,650     20,199     32,227     35,105     93,336

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   January 30, 2008
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           1,001,165     39,146    349,929     42,119     39,635     80,357    109,991     86,232     32,965     19,231     33,268     56,810    111,484
  Less: notes held by F.R. Banks              226,883      6,625     70,288      9,021      9,290     14,986     36,513     14,584      4,505      3,186      3,728     25,466     28,692
    Federal Reserve notes, net                774,282     32,521    279,641     33,098     30,344     65,371     73,478     71,648     28,460     16,046     29,540     31,344     82,792
Reverse repurchase agreements (1)              39,485      1,820     14,297      1,747      1,616      3,421      3,662      3,312      1,262        788      1,278      1,735      4,547
Deposits                                       43,998      1,315     26,338        497      1,438      3,495      2,150      2,505        318      2,200        630        848      2,265
  Depository institutions                      38,497      1,280     21,017        493      1,434      3,384      2,147      2,502        307      2,199        628        845      2,262
  U.S. Treasury, general account                5,082          0      5,082          0          0          0          0          0          0          0          0          0          0
  Foreign official                                 99          1         69          5          3         11          3          2          0          1          0          1          3
  Other                                           320         34        171          0          1        100          0          0         10          0          1          2          0
Deferred availability cash items                3,393        185         73        420        536        304        296        278         56        315        202        195        533
Other liabilities and accrued                 
  dividends (2)                                 4,546        204      1,516        207        218        530        402        377        176        117        161        216        422
   
    Total liabilities                         865,704     36,045    321,866     35,970     34,152     73,120     79,988     78,120     30,272     19,465     31,811     34,338     90,559
                              
Capital                    
Capital paid in                                18,472      1,049      4,619      1,814      1,294      4,997      1,448        816        180        355        196        364      1,339
Surplus                                        18,480      1,079      4,619      1,813      1,291      4,996      1,425        814        180        355        194        363      1,350
Other capital                                     945          6        402         42         36         81        110         70         18         25         26         40         88
     Total liabilities and capital            903,601     38,180    331,505     39,640     36,773     83,193     82,971     79,821     30,650     20,199     32,227     35,105     93,336
                              

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
                                          Jan 30, 2008
              
Federal Reserve notes outstanding           1,001,165
   Less: Notes held by F.R. Banks
         not subject to collateralization     226,883
      Federal Reserve notes to be
         collateralized                       774,282 
Collateral held against Federal Reserve            
   notes                                      774,282
   Gold certificate account                    11,037
   Special drawing rights                 
     certificate account                        2,200
   U.S. Treasury and agency securities   
     pledged (1)                              728,856
   Other assets pledged                        32,189

Memo:
Total U.S. Treasury and agency 
       securities (1)                         768,371
   Less:face value of securities under
         reverse repurchase agreements         39,515
      U.S. Treasury and agency securities
             eligible to be pledged           728,856
   

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.