FEDERAL RESERVE Statistical Release

H.4.1
Factors Affecting Reserve Balances of Depository Institutions and
Condition Statement of Federal Reserve Banks
                                                                                           January 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           Jan 23, 2008 Jan 16, 2008 Jan 24, 2007 Jan 23, 2008
Federal Reserve Banks

Reserve Bank Credit                                         861,489    -   6,047    +  24,399      861,216
 Securities held outright                                   723,298    -   4,940    -  55,582      723,315       
    U.S. Treasury (1)                                       723,298    -   4,940    -  55,582      723,315
       Bills (2)                                            210,360    -   5,000    -  66,659      210,360
       Notes and bonds, nominal (2)                         470,984            0    +   3,120      470,984
       Notes and bonds, inflation-indexed (2)                37,463    +     395    +   6,876       37,463
       Inflation compensation (3)                             4,491    -     335    +   1,081        4,508
    Federal agency (2)                                            0            0            0            0      
 Repurchase agreements(4)                                    21,500    -   9,821    +   2,893       22,000
 Term auction credit                                         50,000    +  10,000    +  50,000       50,000  
 Other loans                                                    752    -     484    +     433           20
    Primary credit                                              744    -     486    +     446           14
    Secondary credit                                              0            0            0            0
    Seasonal credit                                               8    +       2    -      13            6
 Float                                                       -1,271    -     227    -     726       -1,546
 Other Federal Reserve assets                                67,210    -     574    +  27,381       67,427
Gold stock                                                   11,041            0            0       11,041
Special drawing rights certificate account                    2,200            0            0        2,200
Treasury currency outstanding (5)                            38,863    +      14    +     621       38,863
       
Total factors supplying reserve funds                       913,593    -   6,033    +  25,021      913,320
                                                                   
Currency in circulation(5)                                  812,230    -   1,388    +   8,924      811,982
Reverse repurchase agreements (6)                            39,705    +   1,137    +  10,295       37,495
   Foreign official and international accounts               39,705    +   1,137    +  10,295       37,495
   Dealers                                                        0            0            0            0
Treasury cash holdings                                          288    +      16    +      68          304
Deposits with F.R.Banks, other than reserve balances         12,441    +     216    +      75       11,951       
  U.S. Treasury, general account                              5,335    +     164    +     223        4,871
  Foreign official                                              102    +       2    -       7           97
  Service-related                                             6,679    +      28    -     158        6,679
     Required clearing balances                               6,679    +      28    -     158        6,679
     Adjustments to compensate for float                          0            0            0            0
  Other                                                         325    +      22    +      17          304
Other liabilities and capital                                42,516    -     742    +   5,492       42,151

Total factors, other than reserve balances,                                        
   absorbing reserve funds                                  907,181    -     761    +  24,855      903,883

Reserve balances with Federal Reserve Banks                   6,412    -   5,272    +     166        9,437
                                                                

Memo (off-balance-sheet items):
  Marketable securities held in custody for foreign
         official and international accounts(2,7)         2,095,767    +  24,092    + 316,456    2,103,433
     U.S. Treasury                                        1,251,102    +  12,135    +  81,922    1,250,167
     Federal agency                                         844,665    +  11,957    + 234,534      853,265
  Securities lent to dealers                                 10,433    +   3,360    +   8,766       10,594   


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.


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 Jan 23, 2008     Jan 16, 2008     Jan 24, 2007

Assets
Gold certificate account                                        11,037                0                0
Special drawing rights certificate account                       2,200                0                0
Coin                                                             1,294        +      48        +     310
Securities, repurchase agreements, term auction
      credit, and other loans                                  795,335        -  17,491        -   2,566
   Securities held outright                                    723,315        -   4,944        -  55,560
      U.S. Treasury (1)                                        723,315        -   4,944        -  55,560       
         Bills (2)                                             210,360        -   5,000        -  66,659
         Notes and bonds, nominal (2)                          470,984                0        +   3,120
         Notes and bonds, inflation-indexed (2)                 37,463                0        +   6,876
         Inflation compensation (3)                              4,508        +      56        +   1,102
      Federal agency (2)                                             0                0                0
   Repurchase agreements (4)                                    22,000        -  17,000        +   3,000    
   Term auction credit                                          50,000        +  10,000        +  50,000
   Other loans                                                      20        -   5,547        -       6
Items in process of collection                    (1,148)        2,688        +     626        -     430
Bank premises                                                    2,137        +       5        +     188
Other assets (5)                                                65,156        -     171        +  26,760
      Total assets                                (1,148)      879,847        -  16,983        +  24,262
                          
Liabilities
Federal Reserve notes, net of FR Bank holdings                 774,712        -     791        +   8,874
Reverse repurchase agreements (6)                               37,495        -   3,584        +   8,076
Deposits                                              (0)       21,255        -  13,073        +   2,242       
  Depository institutions                                       15,984        -  12,264        +   2,776
  U.S. Treasury, general account                                 4,871        -     803        -     541
  Foreign official                                                  97                0        +       7
  Other                                               (0)          304        -       5        +       1
Deferred availability cash items                  (1,148)        4,233        +     946        +      22
Other liabilities and accrued dividends (7)                      4,406        -     662        -   1,145
      Total liabilities                           (1,148)      842,102        -  17,165        +  18,069
                          
Capital Accounts
Capital paid in                                                 18,465        +      17        +   3,133
Surplus                                                         18,444        +      27        +   3,352
Other capital accounts                                             836        +     138        -     292
      Total capital                                             37,745        +     182        +   6,193


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 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,   January 23, 2008
Millions of dollars
                   Term auction    Other      U.S. Treasury                        Reverse
Remaining maturity    credit       loans       securities (1)        Repurchase   repurchase
                                                          Weekly     agreements(2)agreements(2)
                                              Holdings    changes    
Within 15 days          20,000           20      46,545   +   3,340       22,000       37,495
16 days to 90 days      30,000            0     123,121   -   8,298            0            0
91 days to 1 year     ------              0     148,953   -      37     ------      ------
Over 1 to 5 years     ------       ------       231,414   +      17     ------      ------
Over 5 to 10 years    ------       ------        84,395   +   2,426     ------      ------
Over 10 years         ------       ------        88,887   -   2,391     ------      ------
                   		 	
All                     50,000           20     723,315   -   4,944       22,000       37,495

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   January 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        449      4,053        455        428        869      1,117        903        326        203        335        613      1,286
Special drawing rights certificate acct.       2,200        115        874         83        104        147        166        212         71         30         66         98        234
Coin                                           1,294         42         61         94        127        152        166        145         54         53         80        140        179
Securities, repurchase agreements, term
      auction credit, and other loans        795,335     34,368    305,525     32,978     31,593     65,336     72,162     63,422     24,871     16,371     24,151     33,997     90,561
   Securities held outright                  723,315     33,335    261,910     32,000     29,600     62,670     67,086     60,669     23,118     14,432     23,414     31,780     83,301
      U.S. Treasury (1)                      723,315     33,335    261,910     32,000     29,600     62,670     67,086     60,669     23,118     14,432     23,414     31,780     83,301
         Bills (2)                           210,360      9,695     76,171      9,306      8,609     18,226     19,510     17,644      6,723      4,197      6,810      9,243     24,226
         Notes and bonds(3)                  512,955     23,640    185,740     22,693     20,992     44,444     47,575     43,025     16,395     10,235     16,605     22,537     59,075
         Federal agency (2)                        0          0          0          0          0          0          0          0          0          0          0          0          0
      Repurchase agreements(4)                22,000      1,014      7,966        973        900      1,906      2,040      1,845        703        439        712        967      2,534
      Term auction credit                     50,000         20     35,649          0      1,093        760      3,035        905      1,050     1,500         20      1,250      4,719     
      Other loans                                 20          0          0          6          0          0          0          2          0          0          5          0          7
Items in process of collection                 3,836        139        333        451        449        127        326        315        155        236        374        238        693
Bank premises                                  2,137        120        215         64        153        182        230        205        114        113        269        256        217
Other assets(5)                               65,156      1,987     18,560      6,341      4,088     14,233      5,488      4,000      1,068      1,195      1,095      1,392      5,711
Interdistrict settlement account                   0    +   277    -17,714    -   348    -   282    + 2,216    + 3,265    + 9,652    + 4,188    +   150    + 5,886    - 1,990    - 5,299
          Total Assets                       880,995     37,498    311,907     40,118     36,660     83,261     82,919     78,854     30,846     18,350     32,256     34,744     93,582

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 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   January 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

Liabilities                         
Federal Reserve notes outstanding           1,004,645     39,182    351,797     42,084     39,673     80,411    111,027     86,249     32,976     19,248     33,294     56,946    111,757
  Less: notes held by F.R. Banks              229,932      6,639     72,634      8,888      9,121     15,112     36,858     14,818      4,426      3,081      3,792     25,875     28,688
    Federal Reserve notes, net                774,712     32,542    279,162     33,196     30,552     65,299     74,169     71,431     28,550     16,167     29,502     31,072     83,069
Reverse repurchase agreements (1)              37,495      1,728     13,577      1,659      1,534      3,249      3,478      3,145      1,198        748      1,214      1,647      4,318
Deposits                                       21,255        668      8,135        447      1,044      3,717      1,367      1,751        332        293        489        757      2,255
  Depository institutions                      15,984        653      3,026        441      1,040      3,602      1,364      1,749        321        292        487        756      2,252
  U.S. Treasury, general account                4,871          0      4,871          0          0          0          0          0          0          0          0          0          0
  Foreign official                                 97          1         67          5          3         11          3          2          0          1          0          1          3
  Other                                           304         13        171          2          1        104          0          0         11          0          1          0          0
Deferred availability cash items                5,381        254        206        938        690        411        477        434        196        287        474        280        733
Other liabilities and accrued                 
  dividends (2)                                 4,406        209      1,291        210        222        519        410        400        187        129        166        232        431
   
    Total liabilities                         843,250     35,401    302,371     36,450     34,042     73,194     79,900     77,161     30,464     17,625     31,845     33,988     90,807
                              
Capital                    
Capital paid in                                18,465      1,049      4,619      1,814      1,291      4,996      1,448        816        180        355        194        364      1,339
Surplus                                        18,444      1,044      4,619      1,813      1,291      4,996      1,425        814        180        355        194        363      1,350
Other capital                                     836          4        299         41         36         74        147         61         22         15         22         29         85
     Total liabilities and capital            880,995     37,498    311,907     40,118     36,660     83,261     82,919     78,854     30,846     18,350     32,256     34,744     93,582
                              

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
                                          Jan 23, 2008
              
Federal Reserve notes outstanding           1,004,645
   Less: Notes held by F.R. Banks
         not subject to collateralization     229,932
      Federal Reserve notes to be
         collateralized                       774,712 
Collateral held against Federal Reserve            
   notes                                      774,712
   Gold certificate account                    11,037
   Special drawing rights                 
     certificate account                        2,200
   U.S. Treasury and agency securities   
     pledged (1)                              707,795
   Other assets pledged                        53,680

Memo:
Total U.S. Treasury and agency 
       securities (1)                         745,315
   Less:face value of securities under
         reverse repurchase agreements         37,520
      U.S. Treasury and agency securities
             eligible to be pledged           707,795
   

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.