FEDERAL RESERVE Statistical Release

H.4.1
Factors Affecting Reserve Balances of Depository Institutions and
Condition Statement of Federal Reserve Banks
                                                                                                May 1, 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           Apr 30, 2008 Apr 23, 2008  May 2, 2007 Apr 30, 2008
Federal Reserve Banks

Reserve Bank credit                                         864,390    -   4,048    -   2,495      871,379
 Securities held outright                                   548,680    +      29    - 238,503      548,692       
    U.S. Treasury (1)                                       548,680    +      29    - 238,503      548,692
       Bills (2)                                             70,317            0    - 206,702       70,317
       Notes and bonds, nominal (2)                         434,946    -     105    -  38,204      434,317
       Notes and bonds, inflation-indexed (2)                38,542    +     105    +   5,297       39,171
       Inflation compensation (3)                             4,875    +      29    +   1,106        4,887
    Federal agency (2)                                            0            0            0            0      
 Repurchase agreements (4)                                  107,536    -     250    +  68,786      115,500
 Term auction credit                                        100,000            0    + 100,000      100,000  
 Other loans                                                 30,183    -   3,207    +  30,117       29,763
    Primary credit                                           11,588    +     857    +  11,582       11,964
    Secondary credit                                              0            0            0            0
    Seasonal credit                                              25    -       1    -      35           24
    Primary dealer credit facility                           18,571    -   4,063    +  18,571       17,775
    Other credit extensions                                       0            0            0            0
 Float                                                       -1,674    +     181    -   1,371       -1,724
 Other Federal Reserve assets                                79,664    -     802    +  38,475       79,147
Gold stock                                                   11,041            0            0       11,041
Special drawing rights certificate account                    2,200            0            0        2,200
Treasury currency outstanding (5)                            38,792    +      14    +     378       38,792
       
Total factors supplying reserve funds                       916,422    -   4,035    -   2,118      923,411
                                                                   
Currency in circulation (5)                                 812,468    -     421    +   5,107      814,146
Reverse repurchase agreements (6)                            39,379    -     667    -     732       40,704
   Foreign official and international accounts               39,379    -     667    +   3,625       40,704
   Dealers                                                        0            0    -   4,357            0
Treasury cash holdings                                          316    -      35    +      20          281
Deposits with F.R. Banks, other than reserve balances        13,225    +     225    -   8,554       12,437       
  U.S. Treasury, general account                              5,721    +     284    -   9,166        4,955
  Foreign official                                              100    -       2    +       7          106
  Service-related                                             7,091    -      60    +     583        7,091
     Required clearing balances                               7,091    -      60    +     583        7,091
     Adjustments to compensate for float                          0            0            0            0
  Other                                                         313    +       3    +      21          285
Other liabilities and capital                                42,827    -   1,190    +   3,993       42,525

Total factors, other than reserve balances,                                        
   absorbing reserve funds                                  908,215    -   2,088    -     167      910,092

Reserve balances with Federal Reserve Banks                   8,207    -   1,947    -   1,952       13,319
                                                                

Memo (off-balance-sheet items):
  Marketable securities held in custody for foreign
         official and international accounts (2,7)        2,263,408    +  10,454    + 336,644    2,281,398
     U.S. Treasury                                        1,329,532    -   2,078    + 102,224    1,346,611
     Federal agency                                         933,876    +  12,532    + 234,420      934,787
  Securities lent to dealers                                163,380    -   6,300    + 160,133      166,585   
     Overnight facility (8)                                  17,751    +   3,449    +  14,504       23,176
     Term facility (9)                                      145,629    -   9,749    + 145,629      143,409


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 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 Apr 30, 2008     Apr 23, 2008      May 2, 2007

Assets
Gold certificate account                                        11,037                0                0
Special drawing rights certificate account                       2,200                0                0
Coin                                                             1,460        +      38        +     387
Securities, repurchase agreements, term auction
      credit, and other loans                                  793,955        +   3,751        -  41,331
   Securities held outright                                    548,692        +      31        - 238,518
      U.S. Treasury (1)                                        548,692        +      31        - 238,518       
         Bills (2)                                              70,317                0        - 206,702
         Notes and bonds, nominal (2)                          434,317        -     734        -  37,619
         Notes and bonds, inflation-indexed (2)                 39,171        +     734        +   4,712
         Inflation compensation (3)                              4,887        +      30        +   1,091
      Federal agency (2)                                             0                0                0
   Repurchase agreements (4)                                   115,500        +   6,000        +  67,500    
   Term auction credit                                         100,000                0        + 100,000
   Other loans                                                  29,763        -   2,280        +  29,687
Items in process of collection                      (590)        1,352        -     857        -   2,632
Bank premises                                                    2,158        +      12        +     155
Other assets (5)                                                76,879        -   1,712        +  37,847
      Total assets                                  (590)      889,040        +   1,230        -   5,575
                          
Liabilities
Federal Reserve notes, net of FR Bank holdings                 777,090        +     449        +   4,927
Reverse repurchase agreements (6)                               40,704        +     792        -     717
Deposits                                              (0)       25,645        +   2,555        -  11,949       
  Depository institutions                                       20,299        +   3,199        +   8,426
  U.S. Treasury, general account                                 4,955        -     615        -  20,395
  Foreign official                                                 106        -      12        +      13
  Other                                               (0)          285        -      17        +       7
Deferred availability cash items                    (590)        3,075        -   1,303        -   2,045
Other liabilities and accrued dividends (7)                      2,994        -   1,164        -   2,898
      Total liabilities                             (590)      849,509        +   1,330        -  12,681
                          
Capital Accounts
Capital paid in                                                 19,606        +       3        +   3,731
Surplus                                                         18,476        +       4        +   3,102
Other capital accounts                                           1,449        -     108        +     273
      Total capital                                             39,531        -     100        +   7,106


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,     April 30, 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          50,000       18,962      30,495   +   8,338       75,500       40,704
16 days to 90 days      50,000       10,801      38,195   -  12,689       40,000            0
91 days to 1 year          ---            0     102,339   +   2,902          ---          ---
Over 1 to 5 years          ---          ---     197,438   +   1,461          ---          ---
Over 5 to 10 years         ---          ---      85,914   +       7          ---          ---
Over 10 years              ---          ---      94,311   +      12          ---          ---
                            
All                    100,000       29,763     548,692   +      31      115,500       40,704

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     April 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        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                                           1,460         51         67        109        137        164        167        175         61         66         97        157        208
Securities, repurchase agreements, term
      auction credit, and other loans        793,955     28,360    347,866     29,031     25,686     69,241     68,193     59,923     25,095     12,581     24,697     27,551     75,731
   Securities held outright                  548,692     23,014    195,221     23,957     20,806     49,755     54,594     48,427     18,961     10,359     20,147     22,760     60,691
      U.S. Treasury (1)                      548,692     23,014    195,221     23,957     20,806     49,755     54,594     48,427     18,961     10,359     20,147     22,760     60,691
         Bills (2)                            70,317      2,949     25,018      3,070      2,666      6,376      6,996      6,206      2,430      1,328      2,582      2,917      7,778
         Notes and bonds (3)                 478,375     20,065    170,203     20,887     18,140     43,378     47,597     42,221     16,531      9,031     17,565     19,843     52,913
      Federal agency (2)                           0          0          0          0          0          0          0          0          0          0          0          0          0
      Repurchase agreements (4)              115,500      4,845     41,094      5,043      4,380     10,473     11,492     10,194      3,991      2,181      4,241      4,791     12,776
      Term auction credit                    100,000        500     84,024          0        500      8,755      2,100        801      2,075        37         50          0      1,158     
      Other loans                             29,763          1     27,526         32          0        258          7        500         68          5        260          0      1,106
Items in process of collection                 1,942         52          0        299        486         56        147         23         21        153        296        191        217
Bank premises                                  2,158        118        213         65        151        200        228        207        124        112        276        255        208
Other assets (5)                              76,879      4,071     21,708      6,593      4,831     17,784      6,166      3,999      1,143      1,463      1,218      1,837      6,068
Interdistrict settlement account                   0    + 4,073    -57,070    + 3,341    + 4,828    - 3,952    +14,057    +12,610    + 2,583    + 3,728    + 4,274    + 3,820    + 7,708
          Total Assets                       889,630     37,265    317,593     39,974     36,645     84,531     90,346     78,062     29,442     18,331     31,273     34,544     91,624

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     April 30, 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             982,429     38,224    338,609     41,243     39,159     79,834    115,205     84,356     31,521     18,416     32,041     55,914    107,906
  Less: notes held by F.R. Banks              205,339      5,724     58,400      7,872      8,129     13,984     33,985     14,370      4,398      2,812      3,555     24,856     27,254
    Federal Reserve notes, net                777,090     32,500    280,210     33,371     31,031     65,850     81,220     69,986     27,123     15,603     28,487     31,058     80,652
Reverse repurchase agreements (1)              40,704      1,707     14,482      1,777      1,543      3,691      4,050      3,592      1,407        768      1,495      1,688      4,502
Deposits                                       25,645        521     12,505        449        471      3,953      1,170      1,312        325        895        489        779      2,777
  Depository institutions                      20,299        512      7,306        445        469      3,852      1,167      1,310        306        894        487        778      2,774
  U.S. Treasury, general account                4,955          0      4,955          0          0          0          0          0          0          0          0          0          0
  Foreign official                                106          2         76          4          3         11          3          2          0          1          0          1          3
  Other                                           285          7        169          0          0         90          0          0         18          0          1          0          0
Deferred availability cash items                3,665        203          0        521        744        284        286        312         54        290        255        216        500
Other liabilities and accrued                 
  dividends (2)                                 2,994        166        380        194        191        501        374        309        158        104        134        168        314
   
    Total liabilities                         850,099     35,097    307,577     36,312     33,980     74,279     87,100     75,511     29,067     17,661     30,860     33,910     88,745
                              
Capital                    
Capital paid in                                19,606      1,087      4,903      1,851      1,340      5,174      1,609      1,260        182        315        200        257      1,426
Surplus                                        18,476      1,050      4,643      1,811      1,291      4,998      1,425        815        180        355        194        364      1,350
Other capital                                   1,449         30        470          0         34         80        211        476         13          0         20         13        102
     Total liabilities and capital            889,630     37,265    317,593     39,974     36,645     84,531     90,346     78,062     29,442     18,331     31,273     34,544     91,624
                              

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
                                          Apr 30, 2008
              
Federal Reserve notes outstanding             982,429
   Less: Notes held by F.R. Banks
         not subject to collateralization     205,339
      Federal Reserve notes to be
         collateralized                       777,090 
Collateral held against Federal Reserve            
   notes                                      777,090
   Gold certificate account                    11,037
   Special drawing rights certificate     
     account                                    2,200
   U.S. Treasury and agency securities   
     pledged (1)                              623,410
   Other assets pledged                       140,443

Memo:
Total U.S. Treasury and agency 
       securities (1)                         664,192
   Less: face value of securities under
         reverse repurchase agreements         40,782
      U.S. Treasury and agency securities
             eligible to be pledged           623,410
   

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.