FEDERAL RESERVE Statistical Release

H.4.1
Factors Affecting Reserve Balances of Depository Institutions and
Condition Statement of Federal Reserve Banks
                                                                                             April 24, 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 23, 2008 Apr 16, 2008 Apr 25, 2007 Apr 23, 2008
Federal Reserve Banks

Reserve Bank credit                                         868,439    +   1,245    +  18,592      868,853
 Securities held outright                                   548,651    +      29    - 236,136      548,661       
    U.S. Treasury (1)                                       548,651    +      29    - 236,136      548,661
       Bills (2)                                             70,317            0    - 206,702       70,317
       Notes and bonds, nominal (2)                         435,051            0    -  36,663      435,051
       Notes and bonds, inflation-indexed (2)                38,437            0    +   6,101       38,437
       Inflation compensation (3)                             4,846    +      29    +   1,127        4,857
    Federal agency (2)                                            0            0            0            0      
 Repurchase agreements (4)                                  107,786    +     822    +  82,822      109,500
 Term auction credit                                        100,000            0    + 100,000      100,000  
 Other loans                                                 33,390    +     727    +  33,275       32,043
    Primary credit                                           10,731    +   2,890    +  10,670       13,462
    Secondary credit                                              0            0            0            0
    Seasonal credit                                              26    +       8    -      29           25
    Primary dealer credit facility                           22,634    -   2,170    +  22,634       18,555
    Other credit extensions                                       0            0            0            0
 Float                                                       -1,854    -     416    -     907       -2,169
 Other Federal Reserve assets                                80,466    +      83    +  39,539       80,818
Gold stock                                                   11,041            0            0       11,041
Special drawing rights certificate account                    2,200            0            0        2,200
Treasury currency outstanding (5)                            38,778    +      14    +     375       38,778
       
Total factors supplying reserve funds                       920,457    +   1,259    +  18,965      920,872
                                                                   
Currency in circulation (5)                                 812,889    -   1,075    +   5,688      813,679
Reverse repurchase agreements (6)                            40,046    -       1    +   5,966       39,912
   Foreign official and international accounts               40,046    -       1    +   5,966       39,912
   Dealers                                                        0            0            0            0
Treasury cash holdings                                          351    -       6    +      46          322
Deposits with F.R. Banks, other than reserve balances        13,000    +     688    -     448       13,142       
  U.S. Treasury, general account                              5,437    +     692    -   1,097        5,570
  Foreign official                                              102    +       5    +      10          118
  Service-related                                             7,151    -       3    +     595        7,151
     Required clearing balances                               7,151    -       3    +     595        7,151
     Adjustments to compensate for float                          0            0            0            0
  Other                                                         310    -       6    +      44          302
Other liabilities and capital                                44,017    -     940    +   4,976       43,789

Total factors, other than reserve balances,                                        
   absorbing reserve funds                                  910,303    -   1,334    +  16,229      910,843

Reserve balances with Federal Reserve Banks                  10,154    +   2,592    +   2,736       10,029
                                                                

Memo (off-balance-sheet items):
  Marketable securities held in custody for foreign
         official and international accounts (2,7)        2,252,954    +  12,651    + 334,832    2,254,015
     U.S. Treasury                                        1,331,610    +   3,975    + 103,593    1,327,918
     Federal agency                                         921,344    +   8,676    + 231,239      926,097
  Securities lent to dealers                                169,680    +  31,263    + 167,022      175,907   
     Overnight facility (8)                                  14,302    +   4,985    +  11,644       16,958
     Term facility (9)                                      155,378    +  26,278    + 155,378      158,949


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 23, 2008     Apr 16, 2008     Apr 25, 2007

Assets
Gold certificate account                                        11,037                0                0
Special drawing rights certificate account                       2,200                0                0
Coin                                                             1,422        +      41        +     403
Securities, repurchase agreements, term auction
      credit, and other loans                                  790,204        +   2,814        -  35,002
   Securities held outright                                    548,661        +      29        - 238,488
      U.S. Treasury (1)                                        548,661        +      29        - 238,488       
         Bills (2)                                              70,317                0        - 206,702
         Notes and bonds, nominal (2)                          435,051                0        -  39,008
         Notes and bonds, inflation-indexed (2)                 38,437                0        +   6,101
         Inflation compensation (3)                              4,857        +      30        +   1,121
      Federal agency (2)                                             0                0                0
   Repurchase agreements (4)                                   109,500        +   5,250        +  71,500    
   Term auction credit                                         100,000                0        + 100,000
   Other loans                                                  32,043        -   2,465        +  31,986
Items in process of collection                      (702)        2,209        +     729        -     498
Bank premises                                                    2,146        +       3        +     156
Other assets (5)                                                78,591        +      18        +  39,289
      Total assets                                  (702)      887,810        +   3,607        +   4,349
                          
Liabilities
Federal Reserve notes, net of FR Bank holdings                 776,641        -     870        +   5,210
Reverse repurchase agreements (6)                               39,912        -     747        +   5,887
Deposits                                              (0)       23,090        +   5,321        -  11,892       
  Depository institutions                                       17,100        +   4,357        -   5,266
  U.S. Treasury, general account                                 5,570        +     956        -   6,680
  Foreign official                                                 118        +      21        +      26
  Other                                               (0)          302        -      13        +      28
Deferred availability cash items                    (702)        4,378        +     503        -     154
Other liabilities and accrued dividends (7)                      4,158        -     198        -   1,679
      Total liabilities                             (702)      848,179        +   4,009        -   2,628
                          
Capital Accounts
Capital paid in                                                 19,603        +      18        +   3,731
Surplus                                                         18,472        +       1        +   3,110
Other capital accounts                                           1,557        -     420        +     138
      Total capital                                             39,631        -     402        +   6,978


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 23, 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         100,000       21,933      22,157   -   2,468       69,500       39,912
16 days to 90 days           0       10,109      50,884   +   2,990       40,000            0
91 days to 1 year          ---            0      99,437   -     520          ---          ---
Over 1 to 5 years          ---          ---     195,977   +       9          ---          ---
Over 5 to 10 years         ---          ---      85,907   +       6          ---          ---
Over 10 years              ---          ---      94,299   +      12          ---          ---
                            
All                    100,000       32,043     548,661   +      29      109,500       39,912

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 23, 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                                           1,422         48         66        108        136        162        162        167         57         64         93        154        205
Securities, repurchase agreements, term
      auction credit, and other loans        790,204     28,606    341,026     28,774     30,637     67,086     70,482     59,427     24,100     12,507     24,259     27,302     75,997
   Securities held outright                  548,661     23,013    195,210     23,955     20,805     49,752     54,591     48,425     18,960     10,358     20,146     22,759     60,688
      U.S. Treasury (1)                      548,661     23,013    195,210     23,955     20,805     49,752     54,591     48,425     18,960     10,358     20,146     22,759     60,688
         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)                 478,344     20,064    170,192     20,885     18,139     43,375     47,594     42,218     16,530      9,031     17,564     19,842     52,910
      Federal agency (2)                           0          0          0          0          0          0          0          0          0          0          0          0          0
      Repurchase agreements (4)              109,500      4,593     38,959      4,781      4,152      9,929     10,895      9,664      3,784      2,067      4,021      4,542     12,112
      Term auction credit                    100,000      1,000     78,321          0      3,925      7,155      4,969        725      1,049        80         80          0      2,697     
      Other loans                             32,043          0     28,535         38      1,755        250         28        613        307          1         12          1        500
Items in process of collection                 2,911         57          0        301        329         54        265        184         25        221        813        224        438
Bank premises                                  2,146        119        214         65        152        192        228        205        121        112        277        255        208
Other assets (5)                              78,591      4,167     22,150      6,787      4,952     18,227      6,297      4,057      1,154      1,494      1,236      1,873      6,198
Interdistrict settlement account                   0    + 4,027    -48,597    + 3,121    +   680    - 6,273    +12,628    +12,633    + 3,568    + 3,047    + 5,040    + 4,023    + 6,102
          Total Assets                       888,512     37,563    319,668     39,692     37,413     80,485     91,450     77,798     29,440     17,675     32,132     34,565     90,631

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 23, 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             983,589     38,274    339,870     41,293     39,128     78,424    116,100     84,322     31,564     18,427     32,079     56,030    108,079
  Less: notes held by F.R. Banks              206,949      5,822     57,839      7,968      8,319     14,303     34,427     14,659      4,495      2,847      3,680     25,004     27,585
    Federal Reserve notes, net                776,641     32,452    282,031     33,325     30,809     64,121     81,673     69,663     27,069     15,580     28,398     31,026     80,494
Reverse repurchase agreements (1)              39,912      1,674     14,200      1,743      1,513      3,619      3,971      3,523      1,379        753      1,465      1,656      4,415
Deposits                                       23,090        896     11,900        333      1,023      1,708      1,899      1,437        344        256        502        764      2,027
  Depository institutions                      17,100        884      6,065        329      1,019      1,597      1,896      1,435        331        255        501        763      2,024
  U.S. Treasury, general account                5,570          0      5,570          0          0          0          0          0          0          0          0          0          0
  Foreign official                                118          2         88          4          3         11          3          2          0          1          0          1          3
  Other                                           302         10        177          0          1        100          0          0         13          0          1          0          0
Deferred availability cash items                5,080        194          0        415      1,198        239        280        315        116        303      1,216        312        492
Other liabilities and accrued                 
  dividends (2)                                 4,158        164      1,564        192        189        472        376        310        154        107        137        173        318
   
    Total liabilities                         848,880     35,381    309,696     36,008     34,732     70,159     88,199     75,248     29,063     17,001     31,719     33,930     87,746
                              
Capital                    
Capital paid in                                19,603      1,087      4,903      1,851      1,340      5,174      1,611      1,260        182        315        198        256      1,424
Surplus                                        18,472      1,050      4,637      1,814      1,291      4,997      1,425        815        180        355        194        364      1,350
Other capital                                   1,557         45        433         20         49        154        214        475         16          4         21         15        110
     Total liabilities and capital            888,512     37,563    319,668     39,692     37,413     80,485     91,450     77,798     29,440     17,675     32,132     34,565     90,631
                              

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 23, 2008
              
Federal Reserve notes outstanding             983,589
   Less: Notes held by F.R. Banks
         not subject to collateralization     206,949
      Federal Reserve notes to be
         collateralized                       776,641 
Collateral held against Federal Reserve            
   notes                                      776,641
   Gold certificate account                    11,037
   Special drawing rights certificate     
     account                                    2,200
   U.S. Treasury and agency securities   
     pledged (1)                              618,188
   Other assets pledged                       145,216

Memo:
Total U.S. Treasury and agency 
       securities (1)                         658,161
   Less: face value of securities under
         reverse repurchase agreements         39,974
      U.S. Treasury and agency securities
             eligible to be pledged           618,188
   

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.