FEDERAL RESERVE Statistical Release

H.4.1
Factors Affecting Reserve Balances of Depository Institutions and
Condition Statement of Federal Reserve Banks
                                                                                              June 12, 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           Jun 11, 2008  Jun 4, 2008 Jun 13, 2007 Jun 11, 2008
Federal Reserve Banks

Reserve Bank credit                                         873,485    -   4,238    +  23,593      874,629
 Securities held outright                                   482,050    -   4,859    - 308,309      482,073       
    U.S. Treasury (1)                                       482,050    -   4,859    - 308,309      482,073
       Bills (2)                                             25,143    -   4,926    - 251,876       25,143
       Notes and bonds, nominal (2)                         412,392            0    -  62,280      412,392
       Notes and bonds, inflation-indexed (2)                39,171            0    +   4,712       39,171
       Inflation compensation (3)                             5,345    +      68    +   1,136        5,368
    Federal agency (2)                                            0            0            0            0      
 Repurchase agreements (4)                                  116,821    +   2,714    +  95,750      118,250
 Term auction credit                                        150,000            0    + 150,000      150,000  
 Other loans                                                 21,875    -   2,384    +  21,729       22,037
    Primary credit                                           13,148    -   2,773    +  13,122       13,450
    Secondary credit                                            224    +     224    +     224            0
    Seasonal credit                                              67    -      10    -      53           67
    Primary dealer credit facility                            8,436    +     175    +   8,436        8,520
    Other credit extensions                                       0            0            0            0
 Float                                                       -1,399    -     153    -     574       -1,600
 Other Federal Reserve assets                               104,138    +     443    +  64,997      103,868
Gold stock                                                   11,041            0            0       11,041
Special drawing rights certificate account                    2,200            0            0        2,200
Treasury currency outstanding (5)                            38,819    +      14    +     342       38,819
       
Total factors supplying reserve funds                       925,545    -   4,224    +  23,935      926,688
                                                                   
Currency in circulation (5)                                 822,782    -     660    +  11,358      823,602
Reverse repurchase agreements (6)                            40,114    +   1,120    +   7,799       39,755
   Foreign official and international accounts               40,114    +   1,120    +   7,799       39,755
   Dealers                                                        0            0            0            0
Treasury cash holdings                                          273    -       7    -      23          280
Deposits with F.R. Banks, other than reserve balances        12,316    +      38    +     436       11,834       
  U.S. Treasury, general account                              4,849    +       5    -     109        4,369
  Foreign official                                               99            0    -      10          100
  Service-related                                             7,096    +      25    +     513        7,096
     Required clearing balances                               7,096    +      25    +     513        7,096
     Adjustments to compensate for float                          0            0            0            0
  Other                                                         273    +       9    +      42          269
Other liabilities and capital                                44,539    +     412    +   5,088       43,942

Total factors, other than reserve balances,                                        
   absorbing reserve funds                                  920,024    +     903    +  24,657      919,412

Reserve balances with Federal Reserve Banks                   5,521    -   5,126    -     722        7,277
                                                                

Memo (off-balance-sheet items):
  Marketable securities held in custody for foreign
         official and international accounts (2,7)        2,304,142    +   2,739    + 348,823    2,307,941
     U.S. Treasury                                        1,349,729    -     825    + 123,062    1,352,702
     Federal agency                                         954,413    +   3,563    + 225,761      955,239
  Securities lent to dealers                                106,700    -   8,918    + 103,113      105,382   
     Overnight facility (8)                                   9,733    -   6,217    +   6,146        8,682
     Term facility (9)                                       96,967    -   2,702    +  96,967       96,700


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.


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 Jun 11, 2008      Jun 4, 2008     Jun 13, 2007

Assets
Gold certificate account                                        11,037                0                0
Special drawing rights certificate account                       2,200                0                0
Coin                                                             1,339        +      14        +     425
Securities, repurchase agreements, term auction
      credit, and other loans                                  772,360        -   5,119        -  40,163
   Securities held outright                                    482,073        -   4,864        - 308,307
      U.S. Treasury (1)                                        482,073        -   4,864        - 308,307       
         Bills (2)                                              25,143        -   4,926        - 251,876
         Notes and bonds, nominal (2)                          412,392                0        -  62,280
         Notes and bonds, inflation-indexed (2)                 39,171                0        +   4,712
         Inflation compensation (3)                              5,368        +      63        +   1,137
      Federal agency (2)                                             0                0                0
   Repurchase agreements (4)                                   118,250        -   1,500        +  96,250    
   Term auction credit                                         150,000                0        + 150,000
   Other loans                                                  22,037        +   1,244        +  21,895
Items in process of collection                      (585)        1,136        -     723        -   1,560
Bank premises                                                    2,149        -       3        +     121
Other assets (5)                                               101,716        +     728        +  64,364
      Total assets                                  (585)      891,937        -   5,103        +  23,188
                          
Liabilities
Federal Reserve notes, net of FR Bank holdings                 786,398        -     705        +  11,428
Reverse repurchase agreements (6)                               39,755        -   2,365        +   8,176
Deposits                                              (0)       19,107        -   2,276        -      46       
  Depository institutions                                       14,369        -   1,381        +     279
  U.S. Treasury, general account                                 4,369        -     909        -     373
  Foreign official                                                 100        +       2        +       5
  Other                                               (0)          269        +      13        +      43
Deferred availability cash items                    (585)        2,736        -     119        -   1,474
Other liabilities and accrued dividends (7)                      3,579        +     250        -   2,467
      Total liabilities                             (585)      851,574        -   5,215        +  15,616
                          
Capital accounts
Capital paid in                                                 19,931        +       8        +   3,834
Surplus                                                         18,486                0        +   3,115
Other capital accounts                                           1,946        +     104        +     623
      Total capital                                             40,363        +     112        +   7,572


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 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,      June 11, 2008
Millions of dollars
                                                 U.S. Treasury                       Reverse
Remaining maturity       Term                    securities (1)       Repurchase   repurchase
                       auction       Other                Weekly      agreements   agreements   
                        credit       loans    Holdings    changes         (2)          (2)          
Within 15 days          75,000        9,906       3,403   -   3,416       78,250       39,755
16 days to 90 days      75,000       12,131      41,236   +     858       40,000            0
91 days to 1 year          ---            0      79,105   -   2,363          ---          ---
Over 1 to 5 years          ---          ---     171,751   +      20          ---          ---
Over 5 to 10 years         ---          ---      90,094   +      14          ---          ---
Over 10 years              ---          ---      96,485   +      26          ---          ---
                            
All                    150,000       22,037     482,073   -   4,864      118,250       39,755

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      June 11, 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        424      3,935        453        423        891      1,221        913        344        199        349        636      1,249
Special drawing rights certificate acct.       2,200        115        874         83        104        147        166        212         71         30         66         98        234
Coin                                           1,339         45         58         96        109        168        160        164         47         58         90        146        199
Securities, repurchase agreements, term
      auction credit, and other loans        772,360     26,680    332,005     28,461     25,245     65,071     65,624     57,465     22,955     13,222     22,752     27,660     85,219
   Securities held outright                  482,073     20,220    171,519     21,048     18,280     43,714     47,965     42,548     16,659      9,101     17,701     19,997     53,323
      U.S. Treasury (1)                      482,073     20,220    171,519     21,048     18,280     43,714     47,965     42,548     16,659      9,101     17,701     19,997     53,323
         Bills (2)                            25,143      1,055      8,946      1,098        953      2,280      2,502      2,219        869        475        923      1,043      2,781
         Notes and bonds (3)                 456,931     19,165    162,573     19,950     17,327     41,434     45,464     40,328     15,790      8,626     16,777     18,954     50,542
      Federal agency (2)                           0          0          0          0          0          0          0          0          0          0          0          0          0
   Repurchase agreements (4)                 118,250      4,960     42,073      5,163      4,484     10,723     11,766     10,437      4,086      2,232      4,342      4,905     13,080
   Term auction credit                       150,000      1,500     99,390      2,240      2,468     10,606      5,823      3,670      2,050     1,728        690      2,758     17,077     
   Other loans                                22,037          0     19,024         10         13         29         70        811        160        161         20          0      1,740
Items in process of collection                 1,721         67          0        159        353        177          3        137         24        123        132        206        341
Bank premises                                  2,149        118        212         65        151        197        227        206        124        112        276        254        207
Other assets (5)                             101,716      5,494     27,693      9,131      6,602     24,767      8,242      5,001      1,323      1,935      1,425      2,284      7,818
Interdistrict settlement account                   0    + 3,983    -49,626    + 2,362    + 4,427    - 5,425    +19,951    +14,131    + 4,334    + 1,821    + 5,717    + 4,090    - 5,766
          Total assets                       892,522     36,926    315,152     40,810     37,415     85,993     95,594     78,228     29,221     17,500     30,808     35,375     89,501

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 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      June 11, 2008 (continued)
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             988,651     37,723    344,494     40,766     39,043     80,841    119,259     83,829     30,894     18,091     31,624     55,839    106,249
  Less: notes held by F.R. Banks              202,253      5,148     61,847      7,214      7,599     13,221     32,724     13,376      3,980      2,852      3,519     23,881     26,893
    Federal Reserve notes, net                786,398     32,575    282,648     33,552     31,444     67,620     86,534     70,454     26,913     15,240     28,105     31,958     79,355
Reverse repurchase agreements (1)              39,755      1,667     14,144      1,736      1,507      3,605      3,956      3,509      1,374        751      1,460      1,649      4,397
Deposits                                       19,107        459      7,339        578        705      3,611      1,188      1,112        356        470        501        744      2,044
  Depository institutions                      14,369        444      2,722        574        701      3,544      1,185      1,110        336        469        500        743      2,041
  U.S. Treasury, general account                4,369          0      4,369          0          0          0          0          0          0          0          0          0          0
  Foreign official                                100          2         70          4          3         11          3          2          0          1          0          1          3
  Other                                           269         13        178          0          1         55          0          0         19          0          1          0          0
Deferred availability cash items                3,321        177          0        418        751        257        270        241         46        252        179        207        523
Other liabilities and accrued                 
  dividends (2)                                 3,579        160        932        210        199        516        360        312        154        108        132        173        323
   
    Total liabilities                         852,159     35,038    305,063     36,494     34,606     75,608     92,308     75,627     28,843     16,820     30,376     34,732     86,642
                              
Capital                    
Capital paid in                                19,931        816      4,933      2,334      1,401      5,178      1,626      1,280        181        316        208        260      1,400
Surplus                                        18,486      1,050      4,650      1,814      1,291      4,998      1,425        815        180        355        194        364      1,351
Other capital                                   1,946         22        506        168        116        210        234        506         17          9         30         19        108
     Total liabilities and capital            892,522     36,926    315,152     40,810     37,415     85,993     95,594     78,228     29,221     17,500     30,808     35,375     89,501
                              

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
                                          Jun 11, 2008
              
Federal Reserve notes outstanding             988,651
   Less: Notes held by F.R. Banks
         not subject to collateralization     202,253
      Federal Reserve notes to be
         collateralized                       786,398 
Collateral held against Federal Reserve            
   notes                                      786,398
   Gold certificate account                    11,037
   Special drawing rights certificate     
     account                                    2,200
   U.S. Treasury and agency securities   
     pledged (1)                              561,152
   Other assets pledged                       212,009

Memo:
Total U.S. Treasury and agency 
       securities (1)                         600,323
   Less: face value of securities under
         reverse repurchase agreements         39,171
      U.S. Treasury and agency securities
             eligible to be pledged           561,152
   

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.