FEDERAL RESERVE Statistical Release

H.4.1
Factors Affecting Reserve Balances of Depository Institutions and
Condition Statement of Federal Reserve Banks
                                                                                             March 13, 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           Mar 12, 2008  Mar 5, 2008 Mar 14, 2007 Mar 12, 2008
Federal Reserve Banks

Reserve Bank Credit                                         869,162    -   4,151    +  17,583      881,658
 Securities held outright                                   709,133    -   4,232    -  71,700      703,436       
    U.S. Treasury (1)                                       709,133    -   4,232    -  71,700      703,436
       Bills (2)                                            196,074    -   4,286    -  80,945      190,360
       Notes and bonds, nominal (2)                         470,010            0    +   1,457      470,010
       Notes and bonds, inflation-indexed (2)                38,437            0    +   6,661       38,437
       Inflation compensation (3)                             4,612    +      53    +   1,127        4,629
    Federal agency (2)                                            0            0            0            0      
 Repurchase agreements(4)                                    58,714    -     643    +  25,928       77,000
 Term auction credit                                         60,000            0    +  60,000       60,000  
 Other loans                                                    103    -     255    +      50           27
    Primary credit                                               99    -     256    +      94           23
    Secondary credit                                              0            0    -      21            0
    Seasonal credit                                               3            0    -      25            5
 Float                                                       -1,160    +     214    -     433       -1,510
 Other Federal Reserve assets                                42,373    +     766    +   3,739       42,704
Gold stock                                                   11,041            0            0       11,041
Special drawing rights certificate account                    2,200            0            0        2,200
Treasury currency outstanding (5)                            38,750    +      14    +     419       38,750
       
Total factors supplying reserve funds                       921,154    -   4,136    +  18,003      933,649
                                                                   
Currency in circulation(5)                                  816,924    +     968    +  10,218      818,415
Reverse repurchase agreements (6)                            40,021    -   3,117    +   2,683       40,197
   Foreign official and international accounts               40,021    -   3,117    +   2,683       40,197
   Dealers                                                        0            0            0            0
Treasury cash holdings                                          261    +       1    +      42          270
Deposits with F.R.Banks, other than reserve balances         12,229    +     244    +     109       12,356       
  U.S. Treasury, general account                              5,076    +     209    +      38        5,249
  Foreign official                                               98    +       1    -      18           96
  Service-related                                             6,750            0    +      61        6,750
     Required clearing balances                               6,750            0    +      61        6,750
     Adjustments to compensate for float                          0            0            0            0
  Other                                                         306    +      35    +      28          260
Other liabilities and capital                                44,443    +      47    +   5,737       44,030

Total factors, other than reserve balances,                                        
   absorbing reserve funds                                  913,879    -   1,856    +  18,789      915,267

Reserve balances with Federal Reserve Banks                   7,274    -   2,282    -     788       18,382
                                                                

Memo (off-balance-sheet items):
  Marketable securities held in custody for foreign
         official and international accounts(2,7)         2,151,216    +   1,204    + 291,443    2,162,203
     U.S. Treasury                                        1,277,697    -   2,930    +  63,967    1,282,820
     Federal agency                                         873,519    +   4,134    + 227,476      879,383
  Securities lent to dealers                                 11,639    -   7,381    +   9,366       11,705   


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 Mar 12, 2008      Mar 5, 2008     Mar 14, 2007

Assets
Gold certificate account                                        11,037                0                0
Special drawing rights certificate account                       2,200                0                0
Coin                                                             1,324        -      27        +     372
Securities, repurchase agreements, term auction
      credit, and other loans                                  840,464        +  14,789        +  16,595
   Securities held outright                                    703,436        -   9,952        -  77,406
      U.S. Treasury (1)                                        703,436        -   9,952        -  77,406       
         Bills (2)                                             190,360        -  10,000        -  86,659
         Notes and bonds, nominal (2)                          470,010                0        +   1,457
         Notes and bonds, inflation-indexed (2)                 38,437                0        +   6,661
         Inflation compensation (3)                              4,629        +      48        +   1,135
      Federal agency (2)                                             0                0                0
   Repurchase agreements (4)                                    77,000        +  24,750        +  34,000    
   Term auction credit                                          60,000                0        +  60,000
   Other loans                                                      27        -      10                0
Items in process of collection                      (525)        1,354        -     361        -   1,636
Bank premises                                                    2,138        -       2        +     169
Other assets (5)                                                40,441        +     857        +   3,472
      Total assets                                  (525)      898,956        +  15,254        +  18,970
                          
Liabilities
Federal Reserve notes, net of FR Bank holdings                 781,254        +     485        +  10,509
Reverse repurchase agreements (6)                               40,197        -     615        +     470
Deposits                                              (0)       30,612        +  15,717        +   3,424       
  Depository institutions                                       25,006        +  15,277        +   3,260
  U.S. Treasury, general account                                 5,249        +     455        +     136
  Foreign official                                                  96        -       2        +       6
  Other                                               (0)          260        -      15        +      20
Deferred availability cash items                    (525)        2,864        -     396        -   1,092
Other liabilities and accrued dividends (7)                      4,365        -      50        -   1,439
      Total liabilities                             (525)      859,292        +  15,141        +  11,872
                          
Capital Accounts
Capital paid in                                                 19,474        +      13        +   3,651
Surplus                                                         18,458                0        +   3,119
Other capital accounts                                           1,733        +     101        +     329
      Total capital                                             39,665        +     114        +   7,099


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,     March 12, 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          60,000           23      34,413   -   4,460       47,000       40,197
16 days to 90 days           0            5     122,887   -   3,858       30,000            0
91 days to 1 year     ------              0     131,959   -   1,680     ------      ------
Over 1 to 5 years     ------       ------       231,014   +      14     ------      ------
Over 5 to 10 years    ------       ------        88,956   +      11     ------      ------
Over 10 years         ------       ------        94,207   +      20     ------      ------
                   		 	
All                     60,000           27     703,436   -   9,952       77,000       40,197

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     March 12, 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                                           1,324         43         66        109        123        153        158        154         56         58         82        137        186
Securities, repurchase agreements, term
      auction credit, and other loans        840,464     36,977    324,274     34,527     32,438     68,327     75,594     68,182     26,024     18,632     25,264     35,540     94,686
   Securities held outright                  703,436     32,418    254,712     31,120     28,787     60,947     65,242     59,002     22,482     14,035     22,771     30,907     81,012
      U.S. Treasury (1)                      703,436     32,418    254,712     31,120     28,787     60,947     65,242     59,002     22,482     14,035     22,771     30,907     81,012
         Bills (2)                           190,360      8,773     68,929      8,422      7,790     16,493     17,655     15,967      6,084      3,798      6,162      8,364     21,923
         Notes and bonds(3)                  513,076     23,646    185,783     22,699     20,997     44,454     47,587     43,035     16,398     10,237     16,609     22,543     59,089
         Federal agency (2)                        0          0          0          0          0          0          0          0          0          0          0          0          0
      Repurchase agreements(4)                77,000      3,549     27,881      3,407      3,151      6,671      7,142      6,459      2,461      1,536      2,493      3,383      8,868
      Term auction credit                     60,000      1,010     41,677          0        500        708      3,210      2,720      1,080     3,057          0      1,250      4,788     
      Other loans                                 27          0          3          0          0          0          0          2          0          3          1          0         18
Items in process of collection                 1,878         64         20        209        262         47        179        193         82        138        252        122        309
Bank premises                                  2,138        119        214         65        152        186        229        204        118        112        276        255        208
Other assets(5)                               40,441      2,062     12,494      3,179      2,345      8,048      3,270      2,262        712        774        741      1,129      3,426
Interdistrict settlement account                   0    -   784    -17,460    + 1,986    + 2,099    + 3,746    + 6,754    + 6,579    + 2,956    - 1,477    + 4,966    - 2,078    - 7,287
          Total Assets                       899,481     39,045    324,535     40,611     37,950     81,523     87,468     78,689     30,345     18,470     31,981     35,816     93,047

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     March 12, 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             993,566     39,154    344,025     41,797     39,583     79,496    113,579     85,492     32,423     18,870     32,758     56,404    109,983
  Less: notes held by F.R. Banks              212,312      6,295     62,262      8,545      8,453     14,639     35,006     14,626      4,375      2,903      3,291     24,715     27,202
    Federal Reserve notes, net                781,254     32,859    281,763     33,252     31,130     64,856     78,573     70,866     28,049     15,967     29,468     31,689     82,782
Reverse repurchase agreements (1)              40,197      1,852     14,555      1,778      1,645      3,483      3,728      3,372      1,285        802      1,301      1,766      4,629
Deposits                                       30,612      1,759     16,704      1,152      1,739      1,900      1,486      1,462        388        567        412      1,157      1,888
  Depository institutions                      25,006      1,745     11,211      1,143      1,735      1,838      1,482      1,460        374        567        411      1,156      1,885
  U.S. Treasury, general account                5,249          0      5,249          0          0          0          0          0          0          0          0          0          0
  Foreign official                                 96          2         66          4          3         11          3          2          0          1          0          1          3
  Other                                           260         13        177          4          1         51          0          0         13          0          1          0          0
Deferred availability cash items                3,388        168         54        527        546        259        277        286         60        276        227        233        476
Other liabilities and accrued                 
  dividends (2)                                 4,365        203      1,356        212        218        512        413        368        177        123        160        212        413
   
    Total liabilities                         859,816     36,842    314,431     36,920     35,278     71,010     84,476     76,354     29,958     17,735     31,568     35,056     90,188
                              
Capital                    
Capital paid in                                19,474      1,076      4,897      1,813      1,310      5,188      1,455      1,257        182        357        198        361      1,379
Surplus                                        18,458      1,049      4,624      1,813      1,291      4,997      1,426        815        180        355        194        364      1,350
Other capital                                   1,733         78        581         65         72        328        111        264         26         23         21         35        130
     Total liabilities and capital            899,481     39,045    324,535     40,611     37,950     81,523     87,468     78,689     30,345     18,470     31,981     35,816     93,047
                              

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
                                          Mar 12, 2008
              
Federal Reserve notes outstanding             993,566
   Less: Notes held by F.R. Banks
         not subject to collateralization     212,312
      Federal Reserve notes to be
         collateralized                       781,254 
Collateral held against Federal Reserve            
   notes                                      781,254
   Gold certificate account                    11,037
   Special drawing rights                 
     certificate account                        2,200
   U.S. Treasury and agency securities   
     pledged (1)                              740,204
   Other assets pledged                        27,813

Memo:
Total U.S. Treasury and agency 
       securities (1)                         780,436
   Less:face value of securities under
         reverse repurchase agreements         40,232
      U.S. Treasury and agency securities
             eligible to be pledged           740,204
   

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.