FEDERAL RESERVE Statistical Release

H.4.1
Factors Affecting Reserve Balances of Depository Institutions and
Condition Statement of Federal Reserve Banks
                                                                                              June 26, 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           Jun 25, 2008 Jun 18, 2008 Jun 27, 2007 Jun 25, 2008
Federal Reserve Banks

Reserve Bank credit                                         874,582    -   2,847    +  26,965      877,008
 Securities held outright                                   478,773    +      63    - 311,703      478,796       
    U.S. Treasury (1)                                       478,773    +      63    - 311,703      478,796
       Bills (2)                                             21,740            0    - 255,279       21,740
       Notes and bonds, nominal (2)                         412,392            0    -  62,280      412,392
       Notes and bonds, inflation-indexed (2)                39,171            0    +   4,712       39,171
       Inflation compensation (3)                             5,470    +      63    +   1,144        5,494
    Federal agency (2)                                            0            0            0            0      
 Repurchase agreements (4)                                  121,679    -   2,964    + 103,893      129,750
 Term auction credit                                        150,000            0    + 150,000      150,000  
 Other loans                                                 20,874    -   1,141    +  20,695       15,402
    Primary credit                                           14,702    +   1,331    +  14,697       13,637
    Secondary credit                                              0            0            0            0
    Seasonal credit                                              77    +       7    -      97           76
    Primary dealer credit facility                            6,095    -   2,479    +   6,095        1,690
    Other credit extensions                                       0            0            0            0
 Float                                                       -1,145    +     148    -     292       -1,415
 Other Federal Reserve assets                               104,402    +   1,048    +  64,372      104,474
Gold stock                                                   11,041            0            0       11,041
Special drawing rights certificate account                    2,200            0            0        2,200
Treasury currency outstanding (5)                            38,847    +      14    +     340       38,847
       
Total factors supplying reserve funds                       926,670    -   2,833    +  27,305      929,096
                                                                   
Currency in circulation (5)                                 822,947    +     215    +  13,213      825,203
Reverse repurchase agreements (6)                            40,374    +     120    +   9,546       42,049
   Foreign official and international accounts               40,374    +     120    +   9,546       42,049
   Dealers                                                        0            0            0            0
Treasury cash holdings                                          276    -       3    -      18          279
Deposits with F.R. Banks, other than reserve balances        12,511    +      76    +     857       11,609       
  U.S. Treasury, general account                              5,070    +     144    +     147        4,208
  Foreign official                                              100            0    +       1          100
  Service-related                                             7,055    -      77    +     661        7,055
     Required clearing balances                               7,055    -      77    +     661        7,055
     Adjustments to compensate for float                          0            0            0            0
  Other                                                         285    +       9    +      47          246
Other liabilities and capital                                44,453    +   1,119    +   4,798       44,184

Total factors, other than reserve balances,                                        
   absorbing reserve funds                                  920,561    +   1,527    +  28,396      923,324

Reserve balances with Federal Reserve Banks                   6,109    -   4,360    -   1,091        5,772
                                                                

Memo (off-balance-sheet items):
  Marketable securities held in custody for foreign
         official and international accounts (2,7)        2,322,375    +   5,329    + 347,166    2,334,025
     U.S. Treasury                                        1,353,434    -   6,493    + 121,823    1,361,911
     Federal agency                                         968,941    +  11,822    + 225,344      972,114
  Securities lent to dealers                                112,072    -   7,294    + 108,743      112,486   
     Overnight facility (8)                                   5,612    -   1,834    +   2,283        7,359
     Term facility (9)                                      106,460    -   5,460    + 106,460      105,127


Note: Components may not sum to totals because of rounding.

1. Includes securities lent to dealers under the overnight and term securities lending facilities.  
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.
8. Fully collateralized by U.S. Treasury securities.
9. Fully collateralized by U.S. Treasury securities, federal agency securities, and highly rated
   non-agency asset-backed and mortgage-backed securities.

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 Jun 25, 2008     Jun 18, 2008     Jun 27, 2007

Assets
Gold certificate account                                        11,037                0                0
Special drawing rights certificate account                       2,200                0                0
Coin                                                             1,333        +       4        +     395
Securities, repurchase agreements, term auction
      credit, and other loans                                  773,949        -  10,174        -  36,735
   Securities held outright                                    478,796        +      62        - 311,701
      U.S. Treasury (1)                                        478,796        +      62        - 311,701       
         Bills (2)                                              21,740                0        - 255,279
         Notes and bonds, nominal (2)                          412,392                0        -  62,280
         Notes and bonds, inflation-indexed (2)                 39,171                0        +   4,712
         Inflation compensation (3)                              5,494        +      63        +   1,147
      Federal agency (2)                                             0                0                0
   Repurchase agreements (4)                                   129,750        -   3,750        + 109,750    
   Term auction credit                                         150,000                0        + 150,000
   Other loans                                                  15,402        -   6,487        +  15,215
Items in process of collection                      (483)        1,213        +     192        -   2,473
Bank premises                                                    2,154                0        +     115
Other assets (5)                                               102,325        +     863        +  64,034
      Total assets                                  (483)      894,212        -   9,114        +  25,337
                          
Liabilities
Federal Reserve notes, net of FR Bank holdings                 787,963        +   1,429        +  12,911
Reverse repurchase agreements (6)                               42,049        +     240        +  11,915
Deposits                                              (0)       17,387        -  11,301        -   3,187       
  Depository institutions                                       12,833        -  11,316        -   3,388
  U.S. Treasury, general account                                 4,208        +      36        +     169
  Foreign official                                                 100        -       1        +       3
  Other                                               (0)          246        -      21        +      28
Deferred availability cash items                    (483)        2,628        -     174        -   1,210
Other liabilities and accrued dividends (7)                      3,797        +     531        -   2,334
      Total liabilities                             (483)      853,824        -   9,275        +  18,094
                          
Capital accounts
Capital paid in                                                 19,877        -       1        +   3,766
Surplus                                                         18,486                0        +   3,088
Other capital accounts                                           2,024        +     160        +     388
      Total capital                                             40,387        +     160        +   7,242


Note: Components may not sum to totals because of rounding.

1. Includes securities lent to dealers under the overnight and term securities lending facilities; refer
   to table 1, footnotes 8 and 9.
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,      June 25, 2008
Millions of dollars
                                                 U.S. Treasury                       Reverse
Remaining maturity       Term                    securities (1)       Repurchase   repurchase
                       auction       Other                Weekly      agreements   agreements   
                        credit       loans    Holdings    changes         (2)          (2)          
Within 15 days          75,000        7,654       5,855   +     494       89,750       42,049
16 days to 90 days      75,000        7,748      39,201   -     494       40,000            0
91 days to 1 year          ---            0      75,981   +       4          ---          ---
Over 1 to 5 years          ---          ---     171,103   +      20          ---          ---
Over 5 to 10 years         ---          ---      90,121   +      13          ---          ---
Over 10 years              ---          ---      96,535   +      25          ---          ---
                            
All                    150,000       15,402     478,796   +      62      129,750       42,049

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      June 25, 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        424      3,935        453        423        891      1,221        913        344        199        349        636      1,249
Special drawing rights certificate acct.       2,200        115        874         83        104        147        166        212         71         30         66         98        234
Coin                                           1,333         40         57         99        113        166        151        164         50         57         93        149        193
Securities, repurchase agreements, term
      auction credit, and other loans        773,949     27,026    328,676     26,848     25,896     66,028     67,131     58,478     23,171     11,729     22,660     28,159     88,145
   Securities held outright                  478,796     20,083    170,353     20,905     18,156     43,417     47,639     42,258     16,545      9,039     17,580     19,861     52,960
      U.S. Treasury (1)                      478,796     20,083    170,353     20,905     18,156     43,417     47,639     42,258     16,545      9,039     17,580     19,861     52,960
         Bills (2)                            21,740        912      7,735        949        824      1,971      2,163      1,919        751        410        798        902      2,405
         Notes and bonds (3)                 457,056     19,171    162,618     19,956     17,331     41,445     45,476     40,340     15,794      8,629     16,782     18,959     50,555
      Federal agency (2)                           0          0          0          0          0          0          0          0          0          0          0          0          0
   Repurchase agreements (4)                 129,750      5,442     46,164      5,665      4,920     11,766     12,910     11,452      4,484      2,450      4,764      5,382     14,352
   Term auction credit                       150,000      1,500    100,265        240      2,810     10,806      6,435      4,100      2,016        18        300      2,900     18,611     
   Other loans                                15,402          2     11,894         38         10         40        147        668        126        223         16         16      2,222
Items in process of collection                 1,697         58          0        232        344        168        113         22         22        119        256        176        186
Bank premises                                  2,154        118        213         65        151        200        227        207        124        112        276        254        208
Other assets (5)                             102,325      5,531     28,000      9,172      6,641     24,843      8,099      5,066      1,348      1,950      1,454      2,317      7,905
Interdistrict settlement account                   0    + 3,808    -43,232    + 3,664    + 3,500    - 9,050    +20,590    +12,629    + 4,170    + 2,978    + 5,784    + 3,944    - 8,785
          Total assets                       894,695     37,120    318,523     40,615     37,173     83,393     97,699     77,692     29,300     17,174     30,938     35,733     89,335

Note: Components may not sum to totals because of rounding.

1. Includes securities lent to dealers under the overnight and term securities lending facilities; refer to table 1, footnotes 8 and 9.
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      June 25, 2008 (continued)
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             989,094     37,378    346,862     40,361     38,796     80,318    120,643     83,187     30,722     17,874     31,397     55,816    105,738
  Less: notes held by F.R. Banks              201,131      5,032     61,793      6,901      7,587     13,094     32,435     13,466      3,871      2,858      3,355     23,585     27,155
    Federal Reserve notes, net                787,963     32,346    285,069     33,460     31,209     67,224     88,209     69,722     26,851     15,017     28,042     32,232     78,583
Reverse repurchase agreements (1)              42,049      1,764     14,961      1,836      1,594      3,813      4,184      3,711      1,453        794      1,544      1,744      4,651
Deposits                                       17,387        767      7,259        385        747      1,181      1,516      1,108        428        314        465        714      2,503
  Depository institutions                      12,833        764      2,814        381        743      1,123      1,513      1,106        400        313        463        712      2,500
  U.S. Treasury, general account                4,208          0      4,208          0          0          0          0          0          0          0          0          0          0
  Foreign official                                100          2         70          4          3         11          3          2          0          1          0          1          3
  Other                                           246          0        167          0          1         47          0          0         28          0          1          0          0
Deferred availability cash items                3,112        191          0        369        597        235        229        235         41        256        322        225        411
Other liabilities and accrued                 
  dividends (2)                                 3,797        161      1,127        214        199        527        383        309        149        107        129        171        321
   
    Total liabilities                         854,308     35,229    308,416     36,264     34,347     72,979     94,521     75,086     28,922     16,487     30,502     35,086     86,468
                              
Capital                    
Capital paid in                                19,877        816      4,934      2,334      1,401      5,178      1,563      1,280        181        322        208        260      1,400
Surplus                                        18,486      1,050      4,650      1,814      1,291      4,998      1,425        815        180        355        194        364      1,351
Other capital                                   2,024         25        524        204        134        238        189        511         17         10         34         23        116
     Total liabilities and capital            894,695     37,120    318,523     40,615     37,173     83,393     97,699     77,692     29,300     17,174     30,938     35,733     89,335
                              

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
                                          Jun 25, 2008
              
Federal Reserve notes outstanding             989,094
   Less: Notes held by F.R. Banks
         not subject to collateralization     201,131
      Federal Reserve notes to be
         collateralized                       787,963 
Collateral held against Federal Reserve            
   notes                                      787,963
   Gold certificate account                    11,037
   Special drawing rights certificate     
     account                                    2,200
   U.S. Treasury and agency securities   
     pledged (1)                              566,482
   Other assets pledged                       208,245

Memo:
Total U.S. Treasury and agency 
       securities (1)                         608,546
   Less: face value of securities under
         reverse repurchase agreements         42,065
      U.S. Treasury and agency securities
             eligible to be pledged           566,482
   

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.