Reserve Bank credit, related items, and

reserve balances of depository institutions

at Federal Reserve Banks

Reserve Bank credit 867,629 + 3,239 + 14,130 872,018

Securities held outright 542,395 - 6,285 - 247,401 536,714

U.S. Treasury1 542,395 - 6,285 - 247,401 536,714

Bills2 65,752 - 4,565 - 211,267 65,752

Notes and bonds, nominal2 432,531 - 2,415 - 41,942 426,818

Notes and bonds, inflation-indexed2 39,171 + 629 + 4,712 39,171

Inflation compensation3 4,942 + 67 + 1,096 4,973

Federal agency2 0 0 0 0

Repurchase agreements4 119,571 + 12,035 + 96,750 130,500

Term auction credit 100,000 0 + 100,000 100,000

Other loans 28,208 - 1,975 + 28,133 27,789

Primary credit 11,655 + 67 + 11,650 11,490

Secondary credit 0 0 0 0

Seasonal credit 36 + 11 - 34 40

Primary dealer credit facility 16,517 - 2,054 + 16,517 16,260

Other credit extensions 0 0 0 0

Float -1,504 + 170 - 1,026 -1,739

Other Federal Reserve assets 78,959 - 705 + 37,675 78,754

Gold stock 11,041 0 0 11,041

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

Treasury currency outstanding5 38,806 + 14 + 382 38,806

Total factors supplying reserve funds 919,676 + 3,254 + 14,512 924,064

Currency in circulation5 814,372 + 1,904 + 5,694 816,554

Reverse repurchase agreements6 38,766 - 613 + 2,747 39,031

Foreign official and international accounts 38,766 - 613 + 2,747 39,031

Dealers 0 0 0 0

Treasury cash holdings 277 - 39 + 8 256

Deposits with F.R. Banks, other than reserve balances 12,667 - 558 + 884 13,188

U.S. Treasury, general account 5,191 - 530 + 277 5,730

Foreign official 97 - 3 + 4 96

Service-related 7,091 0 + 583 7,091

Required clearing balances 7,091 0 + 583 7,091

Adjustments to compensate for float 0 0 0 0

Other 287 - 26 + 19 271

Other liabilities and capital 42,546 - 281 + 3,745 42,631

Total factors, other than reserve balances,

absorbing reserve funds 908,628 + 413 + 13,078 911,660

Reserve balances with Federal Reserve Banks 11,048 + 2,841 + 1,434 12,404

Memo (off-balance-sheet items):

Marketable securities held in custody for foreign

 official and international accounts2,7 2,279,742 + 16,334 + 348,610 2,272,927

U.S. Treasury 1,346,761 + 17,229 + 118,729 1,342,098

Federal agency 932,981 - 895 + 229,881 930,829

Securities lent to dealers 164,904 + 1,524 + 161,860 161,090

Overnight facility8 22,249 + 4,498 + 19,205 18,561

Term facility9 142,655 - 2,974 + 142,655 142,529

FEDERAL RESERVE statistical release

 May 8, 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 mortgage-backed securities.

Sources: Federal Reserve Banks and the U.S. Department of the Treasury.

Change from week ended Wednesday

 May 7, 2008 Week ended

 May 7, 2008 Apr 30, 2008 May 9, 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 1,431 - 29 + 415

Securities, repurchase agreements, term auction

credit, and other loans 795,003 + 1,048 - 24,104

Securities held outright 536,714 - 11,978 - 253,311

U.S. Treasury1 536,714 - 11,978 - 253,311

Bills2 65,752 - 4,565 - 211,267

Notes and bonds, nominal2 426,818 - 7,499 - 47,854

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

Inflation compensation3 4,973 + 86 + 1,098

Federal agency2 0 0 0

Repurchase agreements4 130,500 + 15,000 + 101,500

Term auction credit 100,000 0 + 100,000

Other loans 27,789 - 1,974 + 27,707

Items in process of collection (529) 1,325 - 27 - 2,819

Bank premises 2,145 - 13 + 139

Other assets5 76,480 - 399 + 36,991

Total assets (529) 889,621 + 581 + 10,623

Liabilities

Federal Reserve notes, net of F.R. Bank holdings 779,432 + 2,342 + 6,153

Reverse repurchase agreements6 39,031 - 1,673 + 3,621

Deposits (0) 25,463 - 182 - 2,120

Depository institutions 19,366 - 933 - 3,137

U.S. Treasury, general account 5,730 + 775 + 1,004

Foreign official 96 - 10 + 3

Other (0) 271 - 14 + 10

Deferred availability cash items (529) 3,064 - 11 - 1,115

Other liabilities and accrued dividends7 2,530 - 464 - 3,376

Total liabilities (529) 849,520 + 11 + 3,162

Capital accounts

Capital paid in 19,623 + 17 + 3,732

Surplus 18,479 + 3 + 3,105

Other capital accounts 2,000 + 551 + 625

Total capital 40,101 + 570 + 7,461

H.4.1

2. Consolidated Statement of Condition of All Federal Reserve Banks

Millions of dollars

Change since

Wednesday

 May 9, 2007

Eliminations from

consolidation Wednesday

 May 7, 2008

Wednesday

 Apr 30, 2008

3. Maturity Distribution of Term Auction Credit, Other Loans, and Securities, May 7, 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 100,000 16,917 32,088 + 1,593 90,500 39,031

16 days to 90 days 0 10,872 41,326 + 3,131 40,000 0

91 days to 1 year . . . 0 93,056 - 9,283 . . . . . . 

Over 1 year to 5 years . . . . . . 192,466 - 4,972 . . . . . . 

Over 5 years to 10 years . . . . . . 83,432 - 2,482 . . . . . . 

Over 10 years . . . . . . 94,346 + 35 . . . . . . 

All 100,000 27,789 536,714 - 11,978 130,500 39,031

Assets, liabilities, and capital

Remaining maturity

Term auction

credit
H.4.1

4. Statement of Condition of Each Federal Reserve Bank on May 7, 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 1,431 795,003 536,714 536,714 65,752 470,962 0 130,500 100,000 27,789 1,854 2,145 76,480 0 890,150

 424 115 49 28,487 22,512 22,512 2,758 19,754 0 5,474 500 2 72 118 4,041 + 4,025 37,331

 3,935 874 68 347,428 190,959 190,959 23,394 167,565 0 46,431 84,024 26,014 0 213 21,664 -55,812 318,371

 453 83 103 29,163 23,434 23,434 2,871 20,563 0 5,698 0 31 54 65 6,527 + 3,611 40,058

 423 104 133 25,800 20,352 20,352 2,493 17,859 0 4,949 500 0 290 151 4,794 + 5,403 37,098

 891 147 167 69,274 48,668 48,668 5,962 42,706 0 11,834 8,755 17 89 193 17,622 - 5,683 82,701

 1,221 166 164 68,487 53,402 53,402 6,542 46,860 0 12,985 2,100 0 146 228 6,153 +13,809 90,373

 913 212 174 60,223 47,370 47,370 5,803 41,567 0 11,518 801 534 260 207 3,974 +13,928 79,891

 344 71 60 25,202 18,547 18,547 2,272 16,275 0 4,510 2,075 71 34 122 1,146 + 2,534 29,512

    12, 10, 10, 1, 8,  2,     1, + 3, 17,
 982,096

 202,664 779,432 779,432 11,037 2,200 628,099 138,096 667,214 39,115 628,099

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.

 982,096 202,664 779,432 39,031 25,463 19,366 5,730 96 271 3,593 2,530 850,049 19,623 18,479 2,000 890,150

 38,178 5,615 32,563 1,637 574 571 0 2 0 193 166 35,132 1,087 1,050 61 37,331

 338,940 57,974 280,965 13,887 13,420 7,462 5,730 66 162 0 -87 308,185 4,903 4,643 639 318,371

 41,225 7,693 33,532 1,704 427 422 0 4 1 523 189 36,375 1,851 1,814 19 40,058

 39,291 8,038 31,253 1,480 899 896 0 3 0 585 191 34,408 1,340 1,291 58 37,098

 79,879 13,799 66,080 3,539 2,008 1,910 0 11 87 291 490 72,408 5,174 4,998 121 82,701

 114,511 33,024 81,487 3,883 1,019 1,016 0 3 0 288 386 87,064 1,611 1,425 272 90,373

 84,447 14,103 70,344 3,445 2,865 2,863 0 2 0 310 309 77,273 1,276 815 528 79,891

 31,479 4,277 27,202 1,349 353 336 0 0 17 53 152 29,110 183 180 40 29,512

 18,4 2,7 15,6 7 3 3    3 1 17,1 3 3  17,8

H.4.14. Statement of Condition of Each Federal Reserve Bank on May 7, 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 7, 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.