Reserve Bank credit, related items, and

reserve balances of depository institutions

at Federal Reserve Banks

Reserve Bank credit 866,213 - 1,417 + 18,528 863,631

Securities held outright 520,054 - 22,341 - 270,020 515,656

U.S. Treasury1 520,054 - 22,341 - 270,020 515,656

Bills2 50,467 - 15,285 - 226,552 49,610

Notes and bonds, nominal2 425,389 - 7,142 - 49,283 421,816

Notes and bonds, inflation-indexed2 39,171 0 + 4,712 39,171

Inflation compensation3 5,028 + 86 + 1,103 5,059

Federal agency2 0 0 0 0

Repurchase agreements4 95,821 - 23,750 + 77,785 100,000

Term auction credit 125,000 + 25,000 + 125,000 125,000

Other loans 31,045 + 2,837 + 30,961 27,905

Primary credit 14,416 + 2,761 + 14,414 13,382

Secondary credit 1 + 1 + 1 0

Seasonal credit 37 + 1 - 45 38

Primary dealer credit facility 16,592 + 75 + 16,592 14,485

Other credit extensions 0 0 0 0

Float -1,209 + 295 - 153 -337

Other Federal Reserve assets 95,501 + 16,542 + 54,954 95,407

Gold stock 11,041 0 0 11,041

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

Treasury currency outstanding5 38,763 + 14 + 330 38,763

Total factors supplying reserve funds 918,216 - 1,403 + 18,857 915,635

Currency in circulation5 815,760 + 1,445 + 6,710 817,923

Reverse repurchase agreements6 39,051 + 285 + 6,753 39,114

Foreign official and international accounts 39,051 + 285 + 6,967 39,114

Dealers 0 0 - 214 0

Treasury cash holdings 255 - 22 + 19 247

Deposits with F.R. Banks, other than reserve balances 12,137 - 530 + 840 11,430

U.S. Treasury, general account 4,657 - 534 + 206 4,020

Foreign official 98 + 1 + 4 97

Service-related 7,045 - 46 + 576 7,045

Required clearing balances 7,044 - 47 + 575 7,044

Adjustments to compensate for float 1 + 1 + 1 1

Other 336 + 49 + 52 268

Other liabilities and capital 43,563 + 1,017 + 4,582 43,262

Total factors, other than reserve balances,

absorbing reserve funds 910,766 + 2,195 + 18,904 911,976

Reserve balances with Federal Reserve Banks 7,450 - 3,598 - 47 3,659

Memo (off-balance-sheet items):

Marketable securities held in custody for foreign

 official and international accounts2,7 2,278,674 - 1,068 + 338,704 2,284,549

U.S. Treasury 1,348,648 + 1,887 + 123,915 1,352,617

Federal agency 930,025 - 2,956 + 214,788 931,932

Securities lent to dealers 150,541 - 14,363 + 147,017 151,738

Overnight facility8 12,452 - 9,797 + 8,928 14,389

Term facility9 138,089 - 4,566 + 138,089 137,349

FEDERAL RESERVE statistical release

 May 15, 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 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.

Change from week ended Wednesday

 May 14, 2008 Week ended

 May 14, 2008 May 7, 2008 May 16, 2007
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 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 1,386 - 45 + 437

Securities, repurchase agreements, term auction

credit, and other loans 768,561 - 26,442 - 39,635

Securities held outright 515,656 - 21,058 - 274,447

U.S. Treasury1 515,656 - 21,058 - 274,447

Bills2 49,610 - 16,142 - 227,409

Notes and bonds, nominal2 421,816 - 5,002 - 52,856

Notes and bonds, inflation-indexed2 39,171 0 + 4,712

Inflation compensation3 5,059 + 86 + 1,106

Federal agency2 0 0 0

Repurchase agreements4 100,000 - 30,500 + 82,000

Term auction credit 125,000 + 25,000 + 125,000

Other loans 27,905 + 116 + 27,812

Items in process of collection (429) 2,282 + 957 - 241

Bank premises 2,147 + 2 + 142

Other assets5 93,139 + 16,659 + 56,722

Total assets (429) 880,752 - 8,869 + 17,426

Liabilities

Federal Reserve notes, net of F.R. Bank holdings 780,789 + 1,357 + 7,866

Reverse repurchase agreements6 39,114 + 83 + 6,668

Deposits (0) 14,959 - 10,504 - 755

Depository institutions 10,574 - 8,792 - 644

U.S. Treasury, general account 4,020 - 1,710 - 105

Foreign official 97 + 1 + 4

Other (0) 268 - 3 - 11

Deferred availability cash items (429) 2,629 - 435 - 1,046

Other liabilities and accrued dividends7 2,734 + 204 - 3,160

Total liabilities (429) 840,224 - 9,296 + 9,572

Capital accounts

Capital paid in 19,861 + 238 + 3,878

Surplus 18,479 0 + 3,105

Other capital accounts 2,189 + 189 + 872

Total capital 40,528 + 427 + 7,853

H.4.1

2. Consolidated Statement of Condition of All Federal Reserve Banks

Millions of dollars

Change since

Wednesday

 May 16, 2007

Eliminations from

consolidation Wednesday

 May 14, 2008

Wednesday

 May 7, 2008

3. Maturity Distribution of Term Auction Credit, Other Loans, and Securities, May 14, 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 50,000 15,358 30,056 - 2,032 60,000 39,114

16 days to 90 days 75,000 12,547 33,547 - 7,779 40,000 0

91 days to 1 year . . . 0 86,731 - 6,325 . . . . . . 

Over 1 year to 5 years . . . . . . 187,743 - 4,723 . . . . . . 

Over 5 years to 10 years . . . . . . 83,199 - 233 . . . . . . 

Over 10 years . . . . . . 94,380 + 34 . . . . . . 

All 125,000 27,905 515,656 - 21,058 100,000 39,114

Assets, liabilities, and capital

Remaining maturity

Term auction

credit
H.4.1

4. Statement of Condition of Each Federal Reserve Bank on May 14, 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 agreements4Term 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 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 s4. 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 1,386 768,561 515,656 515,656 49,610 466,046 0 100,000 125,000 27,905 2,712 2,147 93,139 0 881,181

 424 115 47 26,355 21,629 21,629 2,081 19,548 0 4,194 530 2 61 118 4,988 + 5,181 37,289

 3,935 874 66 342,057 183,467 183,467 17,651 165,816 0 35,579 97,072 25,939 0 213 25,827 -61,858 311,114

 453 83 102 26,880 22,514 22,514 2,166 20,348 0 4,366 0 0 90 65 8,151 + 4,322 40,146

 423 104 125 25,845 19,553 19,553 1,881 17,672 0 3,792 2,300 200 253 151 5,950 + 3,990 36,842

 891 147 167 66,303 46,759 46,759 4,499 42,260 0 9,068 10,459 17 25 193 22,104 - 7,168 82,661

 1,221 166 158 65,447 51,307 51,307 4,936 46,371 0 9,950 4,160 30 121 228 7,458 +16,636 91,434

 913 212 170 56,122 45,512 45,512 4,379 41,133 0 8,826 1,226 558 124 207 4,726 +15,678 78,152

 344 71 55 23,445 17,819 17,819 1,714 16,105 0 3,456 2,105 65 38 122 1,317 + 4,121 29,512

    13, 9, 9,  8,  1, 1,    1, + 2, 17,
 982,744

 201,956 780,789 780,789 11,037 2,200 576,601 190,951 615,656 39,055 576,601

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.

 982,744 201,956 780,789 39,114 14,959 10,574 4,020 97 268 3,058 2,734 840,653 19,861 18,479 2,189 881,181

 38,121 5,464 32,658 1,641 444 440 0 2 1 167 161 35,071 1,088 1,050 81 37,289

 339,708 58,886 280,822 13,916 6,000 1,739 4,020 67 174 0 168 300,907 4,933 4,643 631 311,114

 41,274 7,686 33,589 1,708 374 369 0 4 1 361 192 36,223 2,042 1,814 67 40,146

 39,404 8,064 31,339 1,483 565 561 0 3 1 542 190 34,120 1,341 1,291 89 36,842

 80,167 13,656 66,511 3,547 1,450 1,363 0 11 76 268 487 72,262 5,172 4,998 229 82,661

 114,259 31,743 82,515 3,892 1,121 1,118 0 3 0 232 355 88,115 1,624 1,425 269 91,434

 84,497 13,997 70,501 3,452 1,014 1,013 0 2 0 250 306 75,524 1,280 815 534 78,152

 31,437 4,300 27,137 1,352 422 409 0 0 13 55 152 29,118 183 180 31 29,512

 18,3 2,7 15,6 7 2 2    3 1 17,1 3 3  17,7

H.4.14. Statement of Condition of Each Federal Reserve Bank on May 14, 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

 May 14, 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.