Reserve Bank credit, related items, and

reserve balances of depository institutions

at Federal Reserve Banks

Reserve Bank credit 878,001 + 6,796 + 24,419 887,657

Securities held outright 491,064 - 11,767 - 299,172 491,091

U.S. Treasury1 491,064 - 11,767 - 299,172 491,091

Bills2 34,296 - 6,859 - 242,723 34,296

Notes and bonds, nominal2 412,392 - 4,999 - 62,280 412,392

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

Inflation compensation3 5,206 + 92 + 1,119 5,232

Federal agency2 0 0 0 0

Repurchase agreements4 105,036 - 18,321 + 79,179 115,000

Term auction credit 150,000 + 25,000 + 150,000 150,000

Other loans 28,335 + 544 + 28,207 29,222

Primary credit 15,950 + 2,414 + 15,944 19,041

Secondary credit 1 + 1 + 1 0

Seasonal credit 54 + 8 - 68 56

Primary dealer credit facility 12,329 - 1,880 + 12,329 10,125

Other credit extensions 0 0 0 0

Float -1,117 - 202 + 298 -1,785

Other Federal Reserve assets 104,684 + 11,544 + 65,909 104,130

Gold stock 11,041 0 0 11,041

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

Treasury currency outstanding5 38,791 + 14 + 339 38,791

Total factors supplying reserve funds 930,033 + 6,810 + 24,758 939,689

Currency in circulation5 823,278 + 5,517 + 9,683 824,892

Reverse repurchase agreements6 37,474 - 874 + 4,710 38,365

Foreign official and international accounts 37,474 - 874 + 4,710 38,365

Dealers 0 0 0 0

Treasury cash holdings 273 + 22 - 8 282

Deposits with F.R. Banks, other than reserve balances 12,435 + 606 + 293 11,894

U.S. Treasury, general account 4,940 + 541 - 243 4,415

Foreign official 98 0 + 4 98

Service-related 7,121 + 76 + 542 7,121

Required clearing balances 7,121 + 76 + 542 7,121

Adjustments to compensate for float 0 0 0 0

Other 275 - 13 - 12 260

Other liabilities and capital 45,843 + 1,338 + 6,574 44,437

Total factors, other than reserve balances,

absorbing reserve funds 919,302 + 6,608 + 21,251 919,870

Reserve balances with Federal Reserve Banks 10,731 + 202 + 3,507 19,819

Memo (off-balance-sheet items):

Marketable securities held in custody for foreign

 official and international accounts2,7 2,292,812 + 16,140 + 333,500 2,292,666

U.S. Treasury 1,345,503 + 7,882 + 114,093 1,341,287

Federal agency 947,308 + 8,257 + 219,406 951,379

Securities lent to dealers 112,721 - 18,348 + 108,518 116,248

Overnight facility8 4,557 - 4,385 + 354 9,988

Term facility9 108,164 - 13,963 + 108,164 106,260

FEDERAL RESERVE statistical release

 May 29, 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 asset-backed and mortgage-backed securities.

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

Change from week ended Wednesday

 May 28, 2008 Week ended

 May 28, 2008 May 21, 2008 May 30, 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 1,318 - 27 + 438

Securities, repurchase agreements, term auction

credit, and other loans 785,312 - 5,421 - 36,069

Securities held outright 491,091 - 11,772 - 299,169

U.S. Treasury1 491,091 - 11,772 - 299,169

Bills2 34,296 - 6,859 - 242,723

Notes and bonds, nominal2 412,392 - 4,999 - 62,280

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

Inflation compensation3 5,232 + 86 + 1,121

Federal agency2 0 0 0

Repurchase agreements4 115,000 - 19,000 + 84,000

Term auction credit 150,000 + 25,000 + 150,000

Other loans 29,222 + 351 + 29,101

Items in process of collection (923) 1,902 + 1,019 - 4,032

Bank premises 2,152 + 1 + 136

Other assets5 101,847 + 9,946 + 64,580

Total assets (923) 905,768 + 5,519 + 25,053

Liabilities

Federal Reserve notes, net of F.R. Bank holdings 787,696 + 4,351 + 9,841

Reverse repurchase agreements6 38,365 + 1,339 + 3,505

Deposits (0) 31,661 - 896 + 7,629

Depository institutions 26,888 - 859 + 7,839

U.S. Treasury, general account 4,415 - 5 - 222

Foreign official 98 0 + 4

Other (0) 260 - 32 + 7

Deferred availability cash items (923) 3,609 + 1,162 - 1,468

Other liabilities and accrued dividends7 3,928 + 2 - 2,043

Total liabilities (923) 865,258 + 5,957 + 17,464

Capital accounts

Capital paid in 19,914 - 9 + 3,812

Surplus 18,479 0 + 3,104

Other capital accounts 2,117 - 430 + 673

Total capital 40,510 - 439 + 7,589

H.4.1

2. Consolidated Statement of Condition of All Federal Reserve Banks

Millions of dollars

Change since

Wednesday

 May 30, 2007

Eliminations from

consolidation Wednesday

 May 28, 2008

Wednesday

 May 21, 2008

3. Maturity Distribution of Term Auction Credit, Other Loans, and Securities, May 28, 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 75,000 17,357 13,857 - 2,756 75,000 38,365

16 days to 90 days 75,000 11,865 35,040 - 1,495 40,000 0

91 days to 1 year . . . 0 84,440 - 2,601 . . . . . . 

Over 1 year to 5 years . . . . . . 171,260 - 4,972 . . . . . . 

Over 5 years to 10 years . . . . . . 90,065 + 19 . . . . . . 

Over 10 years . . . . . . 96,430 + 34 . . . . . . 

All 150,000 29,222 491,091 - 11,772 115,000 38,365

Assets, liabilities, and capital

Remaining maturity

Term auction

credit
H.4.1

4. Statement of Condition of Each Federal Reserve Bank on May 28, 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 1,318 785,312 491,091 491,091 34,296 456,795 0 115,000 150,000 29,222 2,825 2,152 101,847 0 906,690

 424 115 45 26,952 20,598 20,598 1,439 19,160 0 4,824 1,530 0 127 118 5,515 + 4,167 37,463

 3,935 874 62 344,538 174,727 174,727 12,202 162,525 0 40,916 101,766 27,129 0 214 27,735 -52,089 325,269

 453 83 98 28,703 21,442 21,442 1,497 19,944 0 5,021 2,240 0 344 65 9,255 + 1,569 40,571

 423 104 111 27,551 18,622 18,622 1,300 17,321 0 4,361 4,568 0 508 151 6,637 + 2,136 37,621

 891 147 167 65,757 44,531 44,531 3,110 41,421 0 10,428 10,780 18 341 197 24,885 - 6,492 85,893

 1,221 166 152 66,148 48,863 48,863 3,412 45,450 0 11,442 5,808 35 154 228 8,040 +21,077 97,185

 913 212 162 56,934 43,343 43,343 3,027 40,316 0 10,150 2,945 496 267 206 5,002 +14,551 78,248

 344 71 47 23,111 16,970 16,970 1,185 15,785 0 3,974 2,055 112 55 122 1,307 + 4,535 29,592

    14, 9, 9,  8,  2, 3,    1, -  17,
 986,858

 199,162 787,696 787,696 11,037 2,200 567,483 206,976 606,091 38,608 567,483

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.

 986,858 199,162 787,696 38,365 31,661 26,888 4,415 98 260 4,531 3,928 866,181 19,914 18,479 2,117 906,690

 37,657 5,154 32,503 1,609 741 727 0 2 12 246 165 35,264 1,088 1,050 61 37,463

 342,144 59,853 282,292 13,650 17,904 13,250 4,415 68 171 0 1,273 315,118 4,933 4,643 574 325,269

 40,744 7,293 33,451 1,675 659 655 0 4 0 579 198 36,562 2,042 1,814 153 40,571

 39,015 7,382 31,633 1,455 797 793 0 3 1 736 197 34,818 1,390 1,291 122 37,621

 80,555 13,055 67,499 3,479 3,502 3,428 0 11 63 558 509 75,546 5,171 4,998 178 85,893

 120,010 32,580 87,430 3,817 1,902 1,899 0 3 0 338 390 93,878 1,626 1,425 256 97,185

 83,544 13,244 70,300 3,386 1,098 1,095 0 2 0 530 315 75,628 1,280 815 525 78,248

 30,941 4,040 26,900 1,326 740 729 0 0 10 89 149 29,205 183 180 25 29,592

 18,1 2,8 15,2 7 3 3    3 1 16,7 3 3  17,3

H.4.14. Statement of Condition of Each Federal Reserve Bank on May 28, 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 28, 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.