FEDERAL RESERVE Statistical Release

H.4.1
Factors Affecting Reserve Balances of Depository Institutions and
Condition Statement of Federal Reserve Banks
                                                                                               May 17, 2007
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           May 16, 2007  May 9, 2007 May 17, 2006 May 16, 2007
Federal Reserve Banks

Reserve Bank Credit                                         847,847    -   5,658    +  23,183      845,447
 Securities held outright                                   790,074    +     278    +  29,897      790,103       
    U.S. Treasury (1)                                       790,074    +     278    +  29,897      790,103
       Bills (2)                                            277,019            0    +   1,649      277,019
       Notes and bonds, nominal (2)                         474,672    +     199    +  15,979      474,672
       Notes and bonds, inflation-indexed (2)                34,459            0    +  11,813       34,459
       Inflation compensation (3)                             3,925    +      79    +     457        3,953
    Federal agency (2)                                            0            0            0            0      
 Repurchase agreements(4)                                    18,036    -   4,785    -   5,714       18,000
 Loans to depository institutions                                84    +       9    -      84           93
    Primary credit                                                2    -       3    -      18            7
    Secondary credit                                              0            0            0            0
    Seasonal credit                                              82    +      12    -      67           86
 Float                                                       -1,055    -     577    -     795       -1,153
 Other Federal Reserve assets                                40,708    -     581    -     120       38,403
Gold stock                                                   11,041            0            0       11,041
Special drawing rights certificate account                    2,200            0            0        2,200
Treasury currency outstanding (5)                            38,455    +      14    +     497       38,455
       
Total factors supplying reserve funds                       899,544    -   5,643    +  23,681      897,143
                                                                   
Currency in circulation(5)                                  809,072    +     376    +  15,097      810,170
Reverse repurchase agreements (6)                            32,298    -   3,721    +   8,641       32,446
   Foreign official and international accounts               32,084    -   3,935    +   8,427       32,446
   Dealers                                                      214    +     214    +     214            0
Treasury cash holdings                                          236    -      33    +      55          263
Deposits with F.R.Banks, other than reserve balances         11,298    -     487    -   1,672       10,966       
  U.S. Treasury, general account                              4,451    -     463    -     741        4,125
  Foreign official                                               94    +       1    -      11           93
  Service-related                                             6,470    -      39    -     896        6,470
     Required clearing balances                               6,470    -      39    -     896        6,470
     Adjustments to compensate for float                          0            0            0            0
  Other                                                         284    +      16    -      24          279
Other liabilities and capital                                38,981    +     180    +   5,084       38,569

Total factors, other than reserve balances,                                        
   absorbing reserve funds                                  891,886    -   3,683    +  27,206      892,414

Reserve balances with Federal Reserve Banks                   7,658    -   1,960    -   3,525        4,729
                                                                

Memo (off-balance-sheet items):
  Marketable securities held in custody for foreign
         official and international accounts(2,7)         1,939,970    +   8,838    + 315,555    1,937,394
     U.S. Treasury                                        1,224,733    -   3,299    +  99,679    1,219,345
     Federal agency                                         715,237    +  12,137    + 215,876      718,049
  Securities lent to dealers                                  3,524    +     480    +   1,924        7,437   


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 May 16, 2007      May 9, 2007     May 17, 2006

Assets
Gold certificate account                                        11,037                0                0
Special drawing rights certificate account                       2,200                0                0
Coin                                                               949        -      67        +     182
Securities, repurchase agreements, and loans                   808,196        -  10,911        +  26,867
   Securities held outright                                    790,103        +      78        +  30,452
      U.S. Treasury (1)                                        790,103        +      78        +  30,452       
         Bills (2)                                             277,019                0        +   1,649
         Notes and bonds, nominal (2)                          474,672                0        +  16,517
         Notes and bonds, inflation-indexed (2)                 34,459                0        +  11,813
         Inflation compensation (3)                              3,953        +      78        +     473
      Federal agency (2)                                             0                0                0
   Repurchase agreements (4)                                    18,000        -  11,000        -   3,500    
   Loans                                                            93        +      11        -      85
Items in process of collection                      (819)        2,523        -   1,621        -   4,751
Bank premises                                                    2,005        -       1        +     169
Other assets (5)                                                36,417        -   3,072        -     508
      Total assets                                  (819)      863,326        -  15,672        +  21,958
                          
Liabilities
Federal Reserve notes net of FR Bank holdings                  772,923        -     356        +  14,954
Reverse repurchase agreements (6)                               32,446        -   2,964        +   9,877
Deposits                                              (0)       15,714        -  11,869        -   6,044       
  Depository institutions                                       11,218        -  11,285        -   5,095
  U.S. Treasury, general account                                 4,125        -     601        -     930
  Foreign official                                                  93                0        +       8
  Other                                               (0)          279        +      18        -      25
Deferred availability cash items                    (819)        3,675        -     504        -   2,349
Other liabilities and accrued dividends (7)                      5,894        -      12        +   1,154
      Total liabilities                             (819)      830,652        -  15,706        +  17,593
                          
Capital Accounts
Capital paid in                                                 15,983        +      92        +   2,124
Surplus                                                         15,374                0        +   2,473
Other capital accounts                                           1,317        -      58        -     232
      Total capital                                             32,675        +      35        +   4,366


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 Loans and Securities,       May 16, 2007
Millions of dollars
                                    U.S. Treasury           Federal agency                      Reverse
Maturity             Loans           securities (1)          securities           Repurchase   repurchase
                                              Weekly                    Weekly    agreements(2)agreements(2)
                                  Holdings    changes      Holdings    changes    
Within 15 days              37       66,840   -   1,517            0           0       18,000       32,446
16 days to 90 days          56      153,859   -   9,023            0           0            0            0
91 days to 1 year            0      183,320   +  12,488            0           0     ------      ------
Over 1 to 5 years     ------        229,466   -   8,271            0           0     ------      ------
Over 5 to 10 years    ------         66,941   +      20            0           0     ------      ------
Over 10 years         ------         89,676   +   6,380            0           0     ------      ------
                   		 	
All                         93      790,103   +      78            0           0       18,000      32,446

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 classified by remaining maturity of the agreements.



4. Statement of Condition of Each Federal Reserve Bank on       May 16, 2007
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                                             949         39         61         61         97         88        104        113         42         41         73         90        139
Securities, repurchase agreements,
      and loans                              808,196     37,249    292,612     35,751     33,070     70,021     74,952     67,817     25,842     16,135     26,172     35,507     93,070
   Securities held outright                  790,103     36,413    286,094     34,954     32,334     68,456     73,280     66,271     25,252     15,764     25,576     34,714     90,993
      U.S. Treasury (1)                      790,103     36,413    286,094     34,954     32,334     68,456     73,280     66,271     25,252     15,764     25,576     34,714     90,993
         Bills (2)                           277,019     12,767    100,308     12,255     11,336     24,001     25,693     23,235      8,854      5,527      8,967     12,171     31,903
         Notes and bonds(3)                  513,084     23,646    185,786     22,699     20,997     44,455     47,587     43,036     16,399     10,237     16,609     22,543     59,090
         Federal agency (2)                        0          0          0          0          0          0          0          0          0          0          0          0          0
      Repurchase agreements(4)                18,000        830      6,518        796        737      1,560      1,669      1,510        575        359        583        791      2,073
      Loans                                       93          7          0          0          0          5          2         36         15         11         13          2          4
Items in process of collection                 3,342        171         35        326        512        270        377        229         82        174        352         21        794
Bank premises                                  2,005        117        212         57        156        172        232        206         88        115        201        260        190
Other assets(5)                               36,417      1,203     11,254      3,121      2,118      6,946      3,078      2,343        724        686        705        934      3,304
Interdistrict settlement account                   0    - 2,117    - 1,827    - 1,025    - 4,512    +   525    + 6,229    +   829    +   707    -   673    + 1,397    + 1,927    - 1,459
          Total Assets                       864,146     37,227    307,273     38,829     31,974     79,037     86,255     72,652     27,882     16,710     29,301     39,450     97,557

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       May 16, 2007
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             969,227     38,005    341,541     39,042     35,873     78,316    108,154     80,644     29,438     17,305     30,503     57,718    112,688
  Less: notes held by F.R. Banks              196,305      4,373     62,743      6,794      8,843     13,204     29,911     14,455      3,618      2,553      3,728     21,571     24,512
    Federal Reserve notes, net                772,923     33,632    278,798     32,248     27,030     65,112     78,244     66,189     25,820     14,752     26,775     36,147     88,176
Reverse repurchase agreements (1)              32,446      1,495     11,749      1,435      1,328      2,811      3,009      2,721      1,037        647      1,050      1,426      3,737
Deposits                                       15,714        748      6,069        541        719      1,912      1,245      1,159        338        251        418        656      1,657
  Depository institutions                      11,218        738      1,704        536        715      1,823      1,241      1,157        328        251        416        656      1,654
  U.S. Treasury, general account                4,125          0      4,125          0          0          0          0          0          0          0          0          0          0
  Foreign official                                 93          1         62          5          3         11          3          2          0          1          0          1          3
  Other                                           279          9        178          0          1         78          0          0         10          0          1          0          0
Deferred availability cash items                4,495        256         68        669        440        327        495        276        106        258        475        361        763
Other liabilities and accrued                 
  dividends (2)                                 5,894        258      1,834        292        278        772        561        481        214        154        199        274        577
   
    Total liabilities                         831,471     36,390    298,517     35,186     29,795     70,934     83,554     70,827     27,515     16,062     28,917     38,863     94,910
                              
Capital                    
Capital paid in                                15,983        403      4,281      1,808      1,066      3,975      1,318        887        172        318        183        278      1,294
Surplus                                        15,374        396      3,771      1,810      1,087      4,095      1,276        859        166        276        176        213      1,247
Other capital                                   1,317         38        704         25         25         33        106         79         28         54         24         95        106
     Total liabilities and capital            864,146     37,227    307,273     38,829     31,974     79,037     86,255     72,652     27,882     16,710     29,301     39,450     97,557
                              

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
                                          May 16, 2007
              
Federal Reserve notes outstanding             969,227
   Less: Notes held by F.R. Banks
         not subject to collateralization     196,305
      Federal Reserve Notes to be
         collateralized                       772,923 
Collateral held against Federal Reserve            
   notes                                      772,923
   Gold certificate account                    11,037
   Special drawing rights                 
     certificate account                        2,200
   U.S. Treasury and agency securities   
     pledged (1)                              759,686
   Other assets pledged                             0

Memo:
Total U.S. Treasury and agency 
       securities (1)                         808,103
   Less:face value of securities under
         reverse repurchase agreements         32,490
      U.S. Treasury and agency securities
             eligible to be pledged           775,614
   

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.