For Release at 

4:30 P.M. Eastern time 

 March 20, 2008 

The Board’s H.4.1 statistical release, “Factors Affecting Reserve Balances of Depository Institutions 

and Condition Statement of Federal Reserve Banks,” has been modified to include data on the 

Primary Dealer Credit Facility, which was approved by the Board of Governors on March 16, 2008, 

and began operations on March 17, 2008. The release also includes data on “other credit 

extensions.” This category includes credit extensions such as the arrangements involving JPMorgan 

Chase & Co. and The Bear Stearns Companies Inc. that were approved by the Board of Governors 

on March 14, 2008, and March 16, 2008. 

FEDERAL RESERVE statistical release 
Reserve Bank credit, related items, and

reserve balances of depository institutions

at Federal Reserve Banks

Reserve Bank credit 878,784 + 9,622 + 27,663 873,017

Securities held outright 676,894 - 32,239 - 103,963 660,484

U.S. Treasury1 676,894 - 32,239 - 103,963 660,484

Bills2 165,216 - 30,858 - 111,803 152,360

Notes and bonds, nominal2 468,581 - 1,429 + 28 465,010

Notes and bonds, inflation-indexed2 38,437 0 + 6,661 38,437

Inflation compensation3 4,660 + 48 + 1,151 4,678

Federal agency2 0 0 0 0

Repurchase agreements4 61,107 + 2,393 + 29,357 62,000

Term auction credit 80,000 + 20,000 + 80,000 80,000

Other loans 19,049 + 18,946 + 19,009 28,925

Primary credit 81 - 18 + 71 120

Secondary credit 0 0 0 0

Seasonal credit 7 + 4 - 23 6

Primary dealer credit facility 13,433 + 13,433 + 13,433 28,800

Other credit extensions 5,529 + 5,529 + 5,529 0

Float -1,567 - 406 - 963 -1,780

Other Federal Reserve assets 43,301 + 928 + 4,223 43,387

Gold stock 11,041 0 0 11,041

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

Treasury currency outstanding5 38,764 + 14 + 419 38,764

Total factors supplying reserve funds 930,789 + 9,636 + 28,082 925,022

Currency in circulation5 817,054 + 130 + 10,763 818,362

Reverse repurchase agreements6 40,710 + 689 + 1,473 46,143

Foreign official and international accounts 39,674 - 347 + 437 38,893

Dealers 1,036 + 1,036 + 1,036 7,250

Treasury cash holdings 273 + 12 + 36 291

Deposits with F.R. Banks, other than reserve balances 12,273 + 44 - 496 12,505

U.S. Treasury, general account 5,152 + 76 - 256 5,364

Foreign official 103 + 5 + 13 99

Service-related 6,754 + 4 - 287 6,754

Required clearing balances 6,754 + 4 - 287 6,754

Adjustments to compensate for float 0 0 0 0

Other 264 - 42 + 35 288

Other liabilities and capital 44,734 + 291 + 5,950 44,213

Total factors, other than reserve balances,

absorbing reserve funds 915,044 + 1,165 + 17,727 921,515

Reserve balances with Federal Reserve Banks 15,746 + 8,472 + 10,356 3,507

Memo (off-balance-sheet items):

Marketable securities held in custody for foreign

 official and international accounts2,7 2,168,498 + 17,282 + 292,643 2,173,695

U.S. Treasury 1,280,342 + 2,645 + 62,914 1,278,331

Federal agency 888,156 + 14,637 + 229,729 895,364

Securities lent to dealers 12,228 + 589 + 10,581 9,890

FEDERAL RESERVE statistical release

 March 20, 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, 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

 Mar 19, 2008 Week ended

 Mar 19, 2008 Mar 12, 2008 Mar 21, 2007
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 1,316 - 8 + 385

Securities, repurchase agreements, term auction

credit, and other loans 831,410 - 9,054 + 20,764

Securities held outright 660,484 - 42,952 - 120,382

U.S. Treasury1 660,484 - 42,952 - 120,382

Bills2 152,360 - 38,000 - 124,659

Notes and bonds, nominal2 465,010 - 5,000 - 3,543

Notes and bonds, inflation-indexed2 38,437 0 + 6,661

Inflation compensation3 4,678 + 49 + 1,160

Federal agency2 0 0 0

Repurchase agreements4 62,000 - 15,000 + 32,250

Term auction credit 80,000 + 20,000 + 80,000

Other loans 28,925 + 28,897 + 28,896

Items in process of collection (418) 1,486 + 132 - 1,419

Bank premises 2,141 + 3 + 167

Other assets5 41,158 + 717 + 3,898

Total assets (418) 890,747 - 8,209 + 23,795

Liabilities

Federal Reserve notes, net of F.R. Bank holdings 781,201 - 53 + 11,149

Reverse repurchase agreements6 46,143 + 5,946 + 7,646

Deposits (0) 15,925 - 14,687 - 396

Depository institutions 10,175 - 14,831 - 1,115

U.S. Treasury, general account 5,364 + 115 + 643

Foreign official 99 + 3 + 9

Other (0) 288 + 28 + 68

Deferred availability cash items (418) 3,265 + 401 - 548

Other liabilities and accrued dividends7 4,077 - 288 - 1,734

Total liabilities (418) 850,611 - 8,681 + 16,117

Capital accounts

Capital paid in 19,528 + 54 + 3,671

Surplus 18,458 0 + 3,119

Other capital accounts 2,150 + 417 + 888

Total capital 40,136 + 471 + 7,678

H.4.1

2. Consolidated Statement of Condition of All Federal Reserve Banks

Millions of dollars

Change since

Wednesday

 Mar 21, 2007

Eliminations from

consolidation Wednesday

 Mar 19, 2008

Wednesday

 Mar 12, 2008

3. Maturity Distribution of Term Auction Credit, Other Loans, and Securities, March 19, 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 30,000 28,925 38,691 + 4,278 17,000 46,143

16 days to 90 days 50,000 0 99,574 - 23,313 45,000 0

91 days to 1 year . . . 0 114,118 - 17,841 . . . . . . 

Over 1 year to 5 years . . . . . . 224,908 - 6,106 . . . . . . 

Over 5 years to 10 years . . . . . . 88,966 + 10 . . . . . . 

Over 10 years . . . . . . 94,226 + 19 . . . . . . 

All 80,000 28,925 660,484 - 42,952 62,000 46,143

Assets, liabilities, and capital

Remaining maturity

Term auction

credit
H.4.1

4. Statement of Condition of Each Federal Reserve Bank on March 19, 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, 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 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 1,316 831,410 660,484 660,484 152,360 508,124 0 62,000 80,000 28,925 1,904 2,141 41,158 0 891,166

 449 115 42 33,299 30,439 30,439 7,022 23,417 0 2,857 0 2 58 119 2,103 + 1,911 38,096

 4,053 874 61 352,541 239,160 239,160 55,169 183,990 0 22,450 62,131 28,801 15 214 12,710 -51,718 318,750

 455 83 107 31,963 29,220 29,220 6,740 22,480 0 2,743 0 0 276 65 3,240 + 3,967 40,157

 428 104 124 31,475 27,029 27,029 6,235 20,794 0 2,537 1,909 0 307 152 2,393 + 2,563 37,546

 869 147 154 63,368 57,226 57,226 13,201 44,025 0 5,372 770 0 156 189 8,196 + 8,305 81,383

 1,117 166 155 67,210 61,258 61,258 14,131 47,127 0 5,750 201 0 -118 229 3,292 +15,925 87,975

 903 212 155 64,043 55,399 55,399 12,779 42,620 0 5,200 3,440 4 162 205 2,310 +10,522 78,512

 326 71 55 25,161 21,110 21,110 4,870 16,240 0 1,982 2,070 0 31 118 725 + 3,881 30,368

    20, 13, 13, 3, 10,  1, 6,     - 3, 18,
 992,528

 211,327 781,201 781,201 11,037 2,200 676,329 91,635 722,484 46,156 676,329

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.

 992,528 211,327 781,201 46,143 15,925 10,175 5,364 99 288 3,683 4,077 851,029 19,528 18,458 2,150 891,166

 39,092 6,137 32,955 2,127 455 398 0 2 55 155 190 35,882 1,076 1,049 89 38,096

 342,855 61,045 281,809 16,708 8,647 3,066 5,364 70 147 76 1,253 308,493 4,906 4,624 726 318,750

 41,772 8,440 33,332 2,041 371 367 0 4 0 508 198 36,450 1,813 1,813 81 40,157

 39,707 8,408 31,299 1,888 635 631 0 3 2 825 209 34,856 1,315 1,291 84 37,546

 79,599 14,695 64,904 3,998 1,170 1,116 0 11 44 274 480 70,826 5,182 4,997 378 81,383

 113,838 34,904 78,934 4,280 931 928 0 3 0 255 398 84,798 1,610 1,426 142 87,975

 85,428 14,628 70,800 3,870 746 744 0 2 0 328 343 76,088 1,256 815 353 78,512

 32,382 4,399 27,983 1,475 298 284 0 0 13 55 166 29,976 180 180 33 30,368

 18,8 2,9 15,9 9 2 2    2 1 17,4 3 3  18,2

H.4.14. Statement of Condition of Each Federal Reserve Bank on March 19, 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

 Mar 19, 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.