For Release at 

4:30 P.M. Eastern time 

 April 3, 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 a separate line 

for securities lending conducted under the Term Securities Lending Facility (TSLF), which was 

announced on March 11, 2008. The first TSLF auction was held on March 27, 2008, with 

settlement the following day. 

Under the Term Securities Lending Facility, the Federal Reserve lends U.S. Treasury securities to 

primary dealers through an auction process. Each loan has a term of 28 days and is secured by other 

U.S. Treasury securities, federal agency securities, or highly rated non-agency mortgage-backed 

securities. 

Unlike sales of securities, securities loans under the TSLF do not affect reserve balances because 

primary dealers provide other securities as collateral rather than paying for the securities with cash. 

For additional details on the TSLF program, please refer to the Board’s announcement at 

http://www.federalreserve.gov/newsevents/press/monetary/20080311a.htm or the information on 

the Federal Reserve Bank of New York’s website at http://www.newyorkfed.org/markets/tslf.html. 

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

reserve balances of depository institutions

at Federal Reserve Banks

Reserve Bank credit 875,577 + 6,141 + 23,331 867,695

Securities held outright 589,085 - 39,892 - 191,823 581,240

U.S. Treasury1 589,085 - 39,892 - 191,823 581,240

Bills2 92,985 - 31,390 - 184,034 92,985

Notes and bonds, nominal2 452,909 - 8,548 - 15,644 445,050

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

Inflation compensation3 4,755 + 47 + 1,195 4,769

Federal agency2 0 0 0 0

Repurchase agreements4 77,500 - 7,321 + 45,286 76,000

Term auction credit 100,000 + 20,000 + 100,000 100,000

Other loans 45,139 + 11,658 + 45,024 44,796

Primary credit 7,013 + 6,463 + 6,926 10,341

Secondary credit 0 - 2 0 0

Seasonal credit 7 + 1 - 21 12

Primary dealer credit facility 38,118 + 5,195 + 38,118 34,443

Other credit extensions 0 0 0 0

Float -1,071 + 278 - 302 1,473

Other Federal Reserve assets 64,924 + 21,418 + 25,146 64,185

Gold stock 11,041 0 0 11,041

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

Treasury currency outstanding5 38,736 + 14 + 365 38,736

Total factors supplying reserve funds 927,554 + 6,155 + 23,695 919,671

Currency in circulation5 815,629 - 1,269 + 8,963 816,607

Reverse repurchase agreements6 41,696 + 990 + 5,063 41,061

Foreign official and international accounts 37,874 - 2,832 + 1,241 37,311

Dealers 3,821 + 3,821 + 3,821 3,750

Treasury cash holdings 335 + 38 + 28 354

Deposits with F.R. Banks, other than reserve balances 12,571 - 283 + 452 13,471

U.S. Treasury, general account 5,158 - 571 + 389 6,013

Foreign official 98 - 20 0 98

Service-related 7,048 + 294 + 59 7,048

Required clearing balances 7,048 + 294 + 59 7,048

Adjustments to compensate for float 0 0 0 0

Other 268 + 14 + 6 312

Other liabilities and capital 44,905 + 370 + 6,077 43,680

Total factors, other than reserve balances,

absorbing reserve funds 915,136 - 155 + 20,584 915,173

Reserve balances with Federal Reserve Banks 12,418 + 6,310 + 3,111 4,498

Memo (off-balance-sheet items):

Marketable securities held in custody for foreign

 official and international accounts2,7 2,206,091 + 21,836 + 313,345 2,214,586

U.S. Treasury 1,298,702 + 13,987 + 78,343 1,305,880

Federal agency 907,390 + 7,851 + 235,003 908,707

Securities lent to dealers 85,606 + 75,666 + 83,689 92,658

Overnight facility8 21,321 + 11,381 + 19,404 17,658

Term facility9 64,286 + 64,286 + 64,286 75,000

FEDERAL RESERVE statistical release

 April 3, 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 other U.S. Treasury securities.

9. Fully collateralized by other 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

 Apr 2, 2008 Week ended

 Apr 2, 2008 Mar 26, 2008 Apr 4, 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 1,340 + 19 + 401

Securities, repurchase agreements, term auction

credit, and other loans 802,036 - 34,627 - 6,922

Securities held outright 581,240 - 31,065 - 199,686

U.S. Treasury1 581,240 - 31,065 - 199,686

Bills2 92,985 - 21,106 - 184,034

Notes and bonds, nominal2 445,050 - 10,002 - 23,503

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

Inflation compensation3 4,769 + 43 + 1,191

Federal agency2 0 0 0

Repurchase agreements4 76,000 - 30,750 + 48,000

Term auction credit 100,000 + 20,000 + 100,000

Other loans 44,796 + 7,189 + 44,764

Items in process of collection (590) 4,733 + 3,948 + 1,223

Bank premises 2,145 + 2 + 159

Other assets5 61,911 + 20,292 + 24,356

Total assets (590) 885,401 - 10,367 + 19,216

Liabilities

Federal Reserve notes, net of F.R. Bank holdings 779,560 - 1,072 + 7,780

Reverse repurchase agreements6 41,061 + 239 + 5,586

Deposits (0) 17,840 - 9,171 + 1,683

Depository institutions 11,417 - 10,150 + 684

U.S. Treasury, general account 6,013 + 1,069 + 1,040

Foreign official 98 - 141 - 33

Other (0) 312 + 51 - 7

Deferred availability cash items (590) 3,260 + 602 - 1,242

Other liabilities and accrued dividends7 3,734 - 99 - 2,149

Total liabilities (590) 845,455 - 9,500 + 11,658

Capital accounts

Capital paid in 19,548 + 2 + 3,701

Surplus 18,471 + 13 + 3,110

Other capital accounts 1,927 - 881 + 747

Total capital 39,946 - 866 + 7,558

H.4.1

2. Consolidated Statement of Condition of All Federal Reserve Banks

Millions of dollars

Change since

Wednesday

 Apr 4, 2007

Eliminations from

consolidation Wednesday

 Apr 2, 2008

Wednesday

 Mar 26, 2008

3. Maturity Distribution of Term Auction Credit, Other Loans, and Securities, April 2, 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 39,999 30,277 - 9,554 61,000 41,061

16 days to 90 days 50,000 4,797 61,816 - 11,248 15,000 0

91 days to 1 year . . . 0 99,009 - 2,213 . . . . . . 

Over 1 year to 5 years . . . . . . 206,888 - 8,077 . . . . . . 

Over 5 years to 10 years . . . . . . 88,986 + 9 . . . . . . 

Over 10 years . . . . . . 94,263 + 17 . . . . . . 

All 100,000 44,796 581,240 - 31,065 76,000 41,061

Assets, liabilities, and capital

Remaining maturity

Term auction

credit
H.4.1

4. Statement of Condition of Each Federal Reserve Bank on April 2, 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 1,340 802,036 581,240 581,240 92,985 488,255 0 76,000 100,000 44,796 5,323 2,145 61,911 0 885,991

 449 115 46 31,290 26,787 26,787 4,285 22,502 0 3,503 1,000 1 66 119 3,285 + 2,062 37,431

 4,053 874 67 355,655 210,465 210,465 33,669 176,796 0 27,519 73,443 44,228 0 213 17,935 -62,613 316,184

 455 83 101 29,117 25,714 25,714 4,114 21,601 0 3,362 0 41 360 64 5,197 + 4,892 40,269

 428 104 124 31,930 23,786 23,786 3,805 19,981 0 3,110 5,034 0 257 152 3,850 - 45 36,800

 869 147 162 60,805 50,360 50,360 8,056 42,303 0 6,585 3,860 0 75 189 13,814 + 4,580 80,641

 1,117 166 150 65,952 53,909 53,909 8,624 45,285 0 7,049 4,995 0 74 228 4,915 +17,000 89,603

 903 212 160 56,835 48,753 48,753 7,799 40,953 0 6,375 1,480 228 120 208 3,232 +16,261 77,931

 326 71 55 23,076 18,577 18,577 2,972 15,605 0 2,429 2,069 1 3,268 119 936 + 2,141 29,992

    16, 11, 11, 1, 9,  1, 3,    1, +  18,
 988,396

 208,836 779,560 779,560 11,037 2,200 616,138 150,185 657,240 41,102 616,138

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.

 988,396 208,836 779,560 41,061 17,840 11,417 6,013 98 312 3,849 3,734 846,045 19,548 18,471 1,927 885,991

 38,642 6,073 32,568 1,892 398 372 0 2 23 200 174 35,232 1,087 1,049 63 37,431

 341,099 59,786 281,313 14,868 8,710 2,467 6,013 68 162 0 1,126 306,017 4,903 4,637 628 316,184

 41,563 8,213 33,350 1,817 769 764 0 4 0 511 185 36,631 1,811 1,814 14 40,269

 39,310 8,174 31,136 1,680 542 539 0 3 0 600 194 34,153 1,322 1,291 33 36,800

 78,752 14,276 64,477 3,558 1,489 1,367 0 11 111 314 466 70,303 5,182 4,997 158 80,641

 115,797 35,095 80,702 3,808 1,129 1,126 0 3 0 291 377 86,308 1,610 1,425 259 89,603

 84,762 14,329 70,434 3,444 818 816 0 2 0 330 310 75,335 1,259 815 521 77,931

 32,019 4,414 27,604 1,312 433 419 0 0 13 95 153 29,598 181 180 33 29,992

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

H.4.14. Statement of Condition of Each Federal Reserve Bank on April 2, 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

 Apr 2, 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.