FEDERAL RESERVE Statistical Release

H.4.1
Factors Affecting Reserve Balances of Depository Institutions and
Condition Statement of Federal Reserve Banks
                                                                                           January 17, 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 16, 2008  Jan 9, 2008 Jan 17, 2007 Jan 16, 2008
Federal Reserve Banks

Reserve Bank Credit                                         867,536    -   1,669    +  21,540      878,965
 Securities held outright                                   728,238    +      56    -  50,653      728,259       
    U.S. Treasury (1)                                       728,238    +      56    -  50,653      728,259
       Bills (2)                                            215,360            0    -  61,659      215,360
       Notes and bonds, nominal (2)                         470,984            0    +   3,120      470,984
       Notes and bonds, inflation-indexed (2)                37,068    +     157    +   6,825       37,463
       Inflation compensation (3)                             4,826    -     102    +   1,061        4,452
    Federal agency (2)                                            0            0            0            0      
 Repurchase agreements(4)                                    31,321    -   1,715    +   3,821       39,000
 Term auction credit                                         40,000            0    +  40,000       40,000  
 Other loans                                                  1,236    -     281    +     952        5,567
    Primary credit                                            1,230    -     282    +     965        5,557
    Secondary credit                                              0            0            0            0
    Seasonal credit                                               6    +       1    -      13           10
 Float                                                       -1,044    -     313    -     849       -1,225
 Other Federal Reserve assets                                67,784    +     582    +  28,268       67,364
Gold stock                                                   11,041            0            0       11,041
Special drawing rights certificate account                    2,200            0            0        2,200
Treasury currency outstanding (5)                            38,849    +      14    +     619       38,849
       
Total factors supplying reserve funds                       919,626    -   1,656    +  22,160      931,055
                                                                   
Currency in circulation(5)                                  813,618    -   9,110    +   5,744      812,825
Reverse repurchase agreements (6)                            38,568    -     487    +   8,082       41,079
   Foreign official and international accounts               38,568    -     487    +   8,082       41,079
   Dealers                                                        0            0            0            0
Treasury cash holdings                                          272    +       8    +      30          286
Deposits with F.R.Banks, other than reserve balances         12,225    +      83    +     224       12,731       
  U.S. Treasury, general account                              5,171    +      25    +     485        5,674
  Foreign official                                              100    -       2    +      10           97
  Service-related                                             6,651            0    -     264        6,651
     Required clearing balances                               6,651            0    -     264        6,651
     Adjustments to compensate for float                          0            0            0            0
  Other                                                         303    +      60    -       7          309
Other liabilities and capital                                43,258    +     380    +   6,555       42,632

Total factors, other than reserve balances,                                        
   absorbing reserve funds                                  907,942    -   9,125    +  20,637      909,553

Reserve balances with Federal Reserve Banks                  11,684    +   7,470    +   1,523       21,502
                                                                

Memo (off-balance-sheet items):
  Marketable securities held in custody for foreign
         official and international accounts(2,7)         2,071,675    +  14,426    + 299,224    2,082,535
     U.S. Treasury                                        1,238,967    +   7,129    +  71,155    1,245,684
     Federal agency                                         832,708    +   7,297    + 228,069      836,851
  Securities lent to dealers                                  7,073    -   2,613    +   5,890        6,505   


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 16, 2008      Jan 9, 2008     Jan 17, 2007

Assets
Gold certificate account                                        11,037                0                0
Special drawing rights certificate account                       2,200                0                0
Coin                                                             1,246        +      44        +     338
Securities, repurchase agreements, term auction
      credit, and other loans                                  812,826        +  13,108        +  12,433
   Securities held outright                                    728,259        +      56        -  50,628
      U.S. Treasury (1)                                        728,259        +      56        -  50,628       
         Bills (2)                                             215,360                0        -  61,659
         Notes and bonds, nominal (2)                          470,984                0        +   3,120
         Notes and bonds, inflation-indexed (2)                 37,463        +     552        +   6,876
         Inflation compensation (3)                              4,452        -     496        +   1,035
      Federal agency (2)                                             0                0                0
   Repurchase agreements (4)                                    39,000        +   8,500        +  19,250    
   Term auction credit                                          40,000                0        +  40,000
   Other loans                                                   5,567        +   4,552        +   3,811
Items in process of collection                      (663)        2,062        -     585        -   7,270
Bank premises                                                    2,132                0        +     188
Other assets (5)                                                65,327        +     263        +  27,921
      Total assets                                  (663)      896,830        +  12,831        +  33,611
                          
Liabilities
Federal Reserve notes, net of FR Bank holdings                 775,503        -   6,300        +   5,845
Reverse repurchase agreements (6)                               41,079        +   3,306        +  10,024
Deposits                                              (0)       34,328        +  15,767        +  14,686       
  Depository institutions                                       28,248        +  15,356        +  14,535
  U.S. Treasury, general account                                 5,674        +     311        +     141
  Foreign official                                                  97        -       1        +       7
  Other                                               (0)          309        +     100        +       2
Deferred availability cash items                    (663)        3,287        -      97        -   3,101
Other liabilities and accrued dividends (7)                      5,068        +      14        -     434
      Total liabilities                             (663)      859,267        +  12,691        +  27,021
                          
Capital Accounts
Capital paid in                                                 18,448        -      11        +   3,116
Surplus                                                         18,417        +      61        +   3,351
Other capital accounts                                             698        +      91        +     123
      Total capital                                             37,563        +     141        +   6,590


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 16, 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          40,000        5,567      43,205   +   3,476       39,000       41,079
16 days to 90 days           0            0     131,419   -   5,777            0            0
91 days to 1 year     ------              0     148,990   +   4,287     ------      ------
Over 1 to 5 years     ------       ------       231,397   -   4,376     ------      ------
Over 5 to 10 years    ------       ------        81,969   +       9     ------      ------
Over 10 years         ------       ------        91,278   +   2,435     ------      ------
                   		 	
All                     40,000        5,567     728,259   +      56       39,000       41,079

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 16, 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                                           1,246         39         58         91        119        148        164        142         52         50         76        136        171
Securities, repurchase agreements, term
      auction credit, and other loans        812,826     35,366    315,279     33,945     31,561     68,524     71,189     65,439     25,573     15,318     24,896     35,111     90,624
   Securities held outright                  728,259     33,562    263,701     32,218     29,803     63,098     67,544     61,084     23,276     14,530     23,574     31,997     83,871
      U.S. Treasury (1)                      728,259     33,562    263,701     32,218     29,803     63,098     67,544     61,084     23,276     14,530     23,574     31,997     83,871
         Bills (2)                           215,360      9,925     77,981      9,528      8,813     18,659     19,974     18,064      6,883      4,297      6,971      9,462     24,802
         Notes and bonds(3)                  512,899     23,637    185,719     22,691     20,989     44,439     47,570     43,020     16,393     10,233     16,603     22,535     59,069
         Federal agency (2)                        0          0          0          0          0          0          0          0          0          0          0          0          0
      Repurchase agreements(4)                39,000      1,797     14,122      1,725      1,596      3,379      3,617      3,271      1,246        778      1,262      1,714      4,491
      Term auction credit                     40,000          0     33,957          0         12        775         25      1,080      1,050         0          0      1,400      1,701     
      Other loans                              5,567          6      3,500          1        150      1,272          3          4          1          9         60          0        561
Items in process of collection                 2,726        137        128        218        502         95        181        287         75        161        315        140        487
Bank premises                                  2,132        120        215         64        153        182        230        205        112        113        269        256        215
Other assets(5)                               65,327      1,993     18,566      6,382      4,104     14,332      5,478      4,011      1,061      1,197      1,090      1,384      5,730
Interdistrict settlement account                   0    +   983    -17,226    -   670    +   698    - 1,826    + 2,231    + 9,399    + 4,244    + 1,748    + 6,105    - 1,985    - 3,700
          Total Assets                       897,494     39,201    321,946     40,568     37,669     82,470     80,755     80,598     31,514     18,818     33,153     35,753     95,048

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 16, 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           1,006,079     39,630    352,243     42,303     39,881     81,224    107,687     86,936     33,281     19,396     33,651     57,166    112,682
  Less: notes held by F.R. Banks              230,576      6,594     73,130      8,717      8,899     15,224     36,887     14,921      4,416      3,081      3,800     26,106     28,800
    Federal Reserve notes, net                775,503     33,035    279,113     33,586     30,981     66,001     70,800     72,015     28,865     16,316     29,851     31,059     83,882
Reverse repurchase agreements (1)              41,079      1,893     14,875      1,817      1,681      3,559      3,810      3,446      1,313        820      1,330      1,805      4,731
Deposits                                       34,328      1,779     16,451        702      1,668      2,028      2,422      2,689        681        577      1,123      1,619      2,589
  Depository institutions                      28,248      1,775     10,537        676      1,684      1,900      2,418      2,686        670        576      1,121      1,618      2,586
  U.S. Treasury, general account                5,674          0      5,674          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                                           309          3        173         21        -18        117          0          0         11          0          1          0          0
Deferred availability cash items                3,951        219         98        577        513        287        391        344         88        252        272        278        631
Other liabilities and accrued                 
  dividends (2)                                 5,068        208      1,900        208        221        508        476        402        183        130        168        231        433
   
    Total liabilities                         859,930     37,134    312,437     36,891     35,065     72,384     77,899     78,896     31,130     18,094     32,744     34,992     92,266
                              
Capital                    
Capital paid in                                18,448      1,049      4,619      1,814      1,291      4,996      1,431        816        180        355        194        364      1,339
Surplus                                        18,417      1,016      4,619      1,813      1,291      4,996      1,425        814        180        355        194        363      1,350
Other capital                                     698          1        272         49         22         95          1         72         24         15         21         34         93
     Total liabilities and capital            897,494     39,201    321,946     40,568     37,669     82,470     80,755     80,598     31,514     18,818     33,153     35,753     95,048
                              

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 16, 2008
              
Federal Reserve notes outstanding           1,006,079
   Less: Notes held by F.R. Banks
         not subject to collateralization     230,576
      Federal Reserve notes to be
         collateralized                       775,503 
Collateral held against Federal Reserve            
   notes                                      775,503
   Gold certificate account                    11,037
   Special drawing rights                 
     certificate account                        2,200
   U.S. Treasury and agency securities   
     pledged (1)                              726,122
   Other assets pledged                        36,144

Memo:
Total U.S. Treasury and agency 
       securities (1)                         767,259
   Less:face value of securities under
         reverse repurchase agreements         41,137
      U.S. Treasury and agency securities
             eligible to be pledged           726,122
   

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.