Reserve Bank credit, related items, and

reserve balances of depository institutions

at Federal Reserve Banks

Reserve Bank credit 873,512 + 2,582 + 21,265 877,148

Securities held outright 754,605 - 15,143 - 24,346 754,612

U.S. Treasury1 754,605 - 15,143 - 24,346 754,612

Bills2 241,856 - 15,163 - 35,163 241,856

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 4,855 + 21 + 891 4,862

Federal agency2 0 0 0 0

Repurchase agreements4 39,536 - 16,214 + 6,500 42,500

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

Other loans to depository institutions 4,828 + 209 + 4,679 4,535

Primary credit 4,802 + 216 + 4,738 4,513

Secondary credit 0 0 0 0

Seasonal credit 26 - 6 - 59 22

Float -902 - 533 - 1,777 -336

Other Federal Reserve assets 55,445 + 14,262 + 16,209 55,837

Gold stock 11,041 0 0 11,041

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

Treasury currency outstanding5 38,807 + 14 + 609 38,807

Total factors supplying reserve funds 925,560 + 2,596 + 21,873 929,196

Currency in circulation5 825,624 + 6,053 + 8,800 829,193

Reverse repurchase agreements6 39,120 + 2,031 + 8,611 40,542

Foreign official and international accounts 39,120 + 2,031 + 8,611 40,542

Dealers 0 0 0 0

Treasury cash holdings 246 - 1 + 16 246

Deposits with F.R. Banks, other than reserve balances 11,906 - 2,569 - 529 11,535

U.S. Treasury, general account 4,910 - 2,590 - 330 4,529

Foreign official 97 - 7 + 5 97

Service-related 6,615 + 17 - 222 6,615

Required clearing balances 6,615 + 74 - 222 6,615

Adjustments to compensate for float 0 - 57 0 0

Other 283 + 11 + 17 293

Other liabilities and capital 42,799 - 10 + 5,975 42,900

Total factors, other than reserve balances,

absorbing reserve funds 919,694 + 5,504 + 22,872 924,415

Reserve balances with Federal Reserve Banks 5,865 - 2,910 - 1,000 4,781

Memo (off-balance-sheet items):

Marketable securities held in custody for foreign

 official and international accounts2,7 2,056,411 + 8,516 + 304,309 2,062,315

U.S. Treasury 1,226,184 + 1,551 + 70,299 1,230,621

Federal agency 830,227 + 6,965 + 234,010 831,694

Securities lent to dealers 14,130 + 3,378 + 10,805 17,462

FEDERAL RESERVE statistical release

 December 27, 2007

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

 Dec 26, 2007 Week ended

 Dec 26, 2007 Dec 19, 2007 Dec 27, 2006
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 1,173 - 25 + 373

Securities, repurchase agreements, term auction

credit, and other loans 821,647 - 10,624 + 6,221

Securities held outright 754,612 - 15,143 - 24,326

U.S. Treasury1 754,612 - 15,143 - 24,326

Bills2 241,856 - 15,163 - 35,163

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

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

Inflation compensation3 4,862 + 20 + 911

Federal agency2 0 0 0

Repurchase agreements4 42,500 - 15,250 + 6,500

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

Other loans 4,535 - 230 + 4,047

Items in process of collection (496) 1,881 - 1,504 - 3,256

Bank premises 2,128 + 4 + 184

Other assets5 53,752 + 14,691 + 16,403

Total assets (496) 893,818 + 2,542 + 19,924

Liabilities

Federal Reserve notes, net of F.R. Bank holdings 791,801 + 6,016 + 9,068

Reverse repurchase agreements6 40,542 + 4,112 + 8,416

Deposits (0) 16,358 - 6,244 - 1,233

Depository institutions 11,439 - 6,222 - 1,333

U.S. Treasury, general account 4,529 - 57 + 59

Foreign official 97 + 1 + 5

Other (0) 293 + 33 + 35

Deferred availability cash items (496) 2,216 - 1,839 - 2,511

Other liabilities and accrued dividends7 5,789 - 71 - 198

Total liabilities (496) 856,706 + 1,973 + 13,543

Capital accounts

Capital paid in 18,353 + 136 + 3,025

Surplus 15,462 + 2 + 4,908

Other capital accounts 3,297 + 430 - 1,551

Total capital 37,112 + 569 + 6,381

H.4.1

2. Consolidated Statement of Condition of All Federal Reserve Banks

Millions of dollars

Change since

Wednesday

 Dec 27, 2006

Eliminations from

consolidation Wednesday

 Dec 26, 2007

Wednesday

 Dec 19, 2007

3. Maturity Distribution of Term Auction Credit, Other Loans, and Securities, December 26, 2007

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 0 4,535 46,058 - 2,756 42,500 40,542

16 days to 90 days 20,000 0 146,785 - 7,069 0 0

91 days to 1 year . . . 0 157,614 - 5,337 . . . . . . 

Over 1 year to 5 years . . . . . . 233,402 + 8 . . . . . . 

Over 5 years to 10 years . . . . . . 81,945 + 3 . . . . . . 

Over 10 years . . . . . . 88,809 + 8 . . . . . . 

All 20,000 4,535 754,612 - 15,143 42,500 40,542

Assets, liabilities, and capital

Remaining maturity

Term auction

credit
H.4.1

4. Statement of Condition of Each Federal Reserve Bank on December 26, 2007Millions 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 1,173 821,647 754,612 754,612 241,856 512,756 0 42,500 20,000 4,535 2,376 2,128 53,752 0 894,314

 449 115 35 36,736 34,777 34,777 11,146 23,631 0 1,959 0 0 97 119 1,677 - 1,183 38,044

 4,053 874 54 309,622 273,243 273,243 87,575 185,668 0 15,389 16,490 4,500 141 215 15,679 -15,149 315,490

 455 83 88 35,265 33,384 33,384 10,700 22,685 0 1,880 0 0 209 64 5,073 - 396 40,840

 428 104 111 32,620 30,881 30,881 9,898 20,984 0 1,739 0 0 454 154 3,299 + 661 37,831

 869 147 137 69,088 65,381 65,381 20,955 44,426 0 3,682 25 0 120 181 11,298 + 2,193 84,034

 1,117 166 151 73,930 69,989 69,989 22,432 47,557 0 3,942 0 0 -91 230 4,537 + 1,398 81,438

 903 212 134 67,345 63,294 63,294 20,286 43,008 0 3,565 475 11 258 205 3,354 + 7,650 80,061

 326 71 50 26,476 24,118 24,118 7,730 16,388 0 1,358 1,000 0 18 112 919 + 3,750 31,722

    15, 15, 15, 4, 10,        + 1, 18,
 1,011,737

 219,937 791,801 791,801 11,037 2,200 756,516 22,048 797,112 40,596 756,516

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.

 1,011,737 219,937 791,801 40,542 16,358 11,439 4,529 97 293 2,712 5,789 857,202 18,353 15,462 3,297 894,314

 39,299 5,889 33,409 1,868 425 419 0 1 6 126 254 36,083 1,049 396 516 38,044

 356,567 74,454 282,113 14,680 7,559 2,747 4,529 66 216 98 1,692 306,142 4,538 3,845 965 315,490

 42,075 7,796 34,279 1,794 452 447 0 5 0 374 278 37,178 1,813 1,812 38 40,840

 39,654 7,294 32,360 1,659 683 677 0 3 3 382 271 35,354 1,291 1,088 98 37,831

 81,385 13,936 67,449 3,513 1,789 1,724 0 11 54 305 976 74,031 4,996 4,099 907 84,034

 108,549 35,900 72,650 3,760 1,311 1,308 0 3 0 258 556 78,536 1,420 1,279 203 81,438

 87,047 13,736 73,311 3,401 863 860 0 2 0 307 443 78,324 819 861 57 80,061

 33,320 3,854 29,466 1,296 354 343 0 0 11 25 200 31,342 180 167 33 31,722

 19,4 2,8 16,5 8 2 2    1 1 17,9 3 2  18,6

H.4.14. Statement of Condition of Each Federal Reserve Bank on December 26, 2007 (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

 Dec 26, 2007

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.