Reserve Bank credit, related items, and

reserve balances of depository institutions

at Federal Reserve Banks

Reserve Bank credit 864,627 + 3,139 + 20,535 885,732

Securities held outright 718,350 - 4,948 - 60,518 718,371

U.S. Treasury1 718,350 - 4,948 - 60,518 718,371

Bills2 205,360 - 5,000 - 71,659 205,360

Notes and bonds, nominal2 470,984 0 + 3,290 470,984

Notes and bonds, inflation-indexed2 37,463 0 + 6,706 37,463

Inflation compensation3 4,544 + 53 + 1,146 4,564

Federal agency2 0 0 0 0

Repurchase agreements4 29,393 + 7,893 + 3,893 50,000

Term auction credit 50,000 0 + 50,000 50,000

Other loans to depository institutions 28 - 724 - 182 46

Primary credit 25 - 719 - 164 43

Secondary credit 0 0 0 0

Seasonal credit 2 - 6 - 20 3

Float -1,140 + 132 - 196 -1,122

Other Federal Reserve assets 67,996 + 786 + 27,538 68,437

Gold stock 11,041 0 0 11,041

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

Treasury currency outstanding5 38,877 + 14 + 623 38,877

Total factors supplying reserve funds 916,745 + 3,153 + 21,159 937,850

Currency in circulation5 809,883 - 2,347 + 9,075 811,506

Reverse repurchase agreements6 39,481 - 224 + 7,775 39,485

Foreign official and international accounts 39,481 - 224 + 7,775 39,485

Dealers 0 0 0 0

Treasury cash holdings 302 + 14 + 92 288

Deposits with F.R. Banks, other than reserve balances 11,752 - 689 - 516 12,172

U.S. Treasury, general account 4,650 - 685 - 405 5,082

Foreign official 101 - 1 + 11 99

Service-related 6,671 - 8 - 165 6,671

Required clearing balances 6,671 - 8 - 165 6,671

Adjustments to compensate for float 0 0 0 0

Other 330 + 5 + 43 320

Other liabilities and capital 42,703 + 187 + 5,286 42,443

Total factors, other than reserve balances,

absorbing reserve funds 904,121 - 3,060 + 21,712 905,894

Reserve balances with Federal Reserve Banks 12,624 + 6,212 - 554 31,956

Memo (off-balance-sheet items):

Marketable securities held in custody for foreign

 official and international accounts2,7 2,110,355 + 14,588 + 320,162 2,118,480

U.S. Treasury 1,256,281 + 5,179 + 82,978 1,263,048

Federal agency 854,073 + 9,408 + 237,183 855,431

Securities lent to dealers 11,509 + 1,076 + 10,220 11,461

FEDERAL RESERVE statistical release

 January 31, 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, 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.

Change from week ended Wednesday

 Jan 30, 2008 Week ended

 Jan 30, 2008 Jan 23, 2008 Jan 31, 2007
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. 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 1,369 + 75 + 300

Securities, repurchase agreements, term auction

credit, and other loans 818,417 + 23,082 + 6,228

Securities held outright 718,371 - 4,944 - 60,492

U.S. Treasury1 718,371 - 4,944 - 60,492

Bills2 205,360 - 5,000 - 71,659

Notes and bonds, nominal2 470,984 0 + 4,309

Notes and bonds, inflation-indexed2 37,463 0 + 5,687

Inflation compensation3 4,564 + 56 + 1,171

Federal agency2 0 0 0

Repurchase agreements4 50,000 + 28,000 + 18,000

Term auction credit 50,000 0 + 50,000

Other loans 46 + 26 - 1,280

Items in process of collection (546) 1,725 - 963 - 1,004

Bank premises 2,140 + 3 + 178

Other assets5 66,167 + 1,011 + 27,794

Total assets (546) 903,055 + 23,208 + 33,496

Liabilities

Federal Reserve notes, net of F.R. Bank holdings 774,282 - 430 + 8,696

Reverse repurchase agreements6 39,485 + 1,990 + 7,106

Deposits (0) 43,998 + 22,743 + 13,341

Depository institutions 38,497 + 22,513 + 14,269

U.S. Treasury, general account 5,082 + 211 - 971

Foreign official 99 + 2 + 9

Other (0) 320 + 16 + 35

Deferred availability cash items (546) 2,847 - 1,386 - 1,364

Other liabilities and accrued dividends7 4,546 + 140 - 1,022

Total liabilities (546) 865,158 + 23,056 + 26,758

Capital accounts

Capital paid in 18,472 + 7 + 3,114

Surplus 18,480 + 36 + 3,353

Other capital accounts 945 + 109 + 271

Total capital 37,897 + 152 + 6,738

H.4.1

2. Consolidated Statement of Condition of All Federal Reserve Banks

Millions of dollars

Change since

Wednesday

 Jan 31, 2007

Eliminations from

consolidation Wednesday

 Jan 30, 2008

Wednesday

 Jan 23, 2008

3. Maturity Distribution of Term Auction Credit, Other Loans, and Securities, January 30, 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 50,000 40 48,770 + 2,225 50,000 39,485

16 days to 90 days 0 7 115,775 - 7,346 0 0

91 days to 1 year . . . 0 149,079 + 126 . . . . . . 

Over 1 year to 5 years . . . . . . 231,432 + 18 . . . . . . 

Over 5 years to 10 years . . . . . . 84,407 + 12 . . . . . . 

Over 10 years . . . . . . 88,909 + 22 . . . . . . 

All 50,000 46 718,371 - 4,944 50,000 39,485

Assets, liabilities, and capital

Remaining maturity

Term auction

credit
H.4.1

4. Statement of Condition of Each Federal Reserve Bank on January 30, 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 agreements4

Term 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, 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 sec4. 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 1,369 818,417 718,371 718,371 205,360 513,011 0 50,000 50,000 46 2,271 2,140 66,167 0 903,601

 449 115 47 35,434 33,107 33,107 9,464 23,643 0 2,304 20 3 97 120 2,024 - 107 38,180

 4,053 874 63 313,874 260,120 260,120 74,360 185,760 0 18,105 35,649 0 404 215 18,934 - 6,912 331,505

 455 83 101 33,995 31,781 31,781 9,085 22,696 0 2,212 0 2 90 65 6,407 - 1,555 39,640

 428 104 128 32,537 29,398 29,398 8,404 20,994 0 2,046 1,093 0 258 153 4,137 - 971 36,773

 869 147 162 67,333 62,241 62,241 17,793 44,448 0 4,332 760 0 237 183 14,390 - 127 83,193

 1,117 166 181 74,300 66,627 66,627 19,047 47,581 0 4,637 3,035 0 126 229 5,577 + 1,275 82,971

 903 212 152 65,353 60,255 60,255 17,225 43,030 0 4,194 905 0 129 206 4,065 + 8,800 79,821

 326 71 58 25,608 22,960 22,960 6,564 16,396 0 1,598 1,050 0 29 114 1,083 + 3,361 30,650

    16, 14, 14, 4, 10,   1,    1, + 1, 20,
 1,001,165

 226,883 774,282 774,282 11,037 2,200 728,856 32,189 768,371 39,515 728,856

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.

 1,001,165 226,883 774,282 39,485 43,998 38,497 5,082 99 320 3,393 4,546 865,704 18,472 18,480 945 903,601

 39,146 6,625 32,521 1,820 1,315 1,280 0 1 34 185 204 36,045 1,049 1,079 6 38,180

 349,929 70,288 279,641 14,297 26,338 21,017 5,082 69 171 73 1,516 321,866 4,619 4,619 402 331,505

 42,119 9,021 33,098 1,747 497 493 0 5 0 420 207 35,970 1,814 1,813 42 39,640

 39,635 9,290 30,344 1,616 1,438 1,434 0 3 1 536 218 34,152 1,294 1,291 36 36,773

 80,357 14,986 65,371 3,421 3,495 3,384 0 11 100 304 530 73,120 4,997 4,996 81 83,193

 109,991 36,513 73,478 3,662 2,150 2,147 0 3 0 296 402 79,988 1,448 1,425 110 82,971

 86,232 14,584 71,648 3,312 2,505 2,502 0 2 0 278 377 78,120 816 814 70 79,821

 32,965 4,505 28,460 1,262 318 307 0 0 10 56 176 30,272 180 180 18 30,650

 19,2 3,1 16,0 7 2,2 2,1    3 1 19,4 3 3  20,1

H.4.14. Statement of Condition of Each Federal Reserve Bank on January 30, 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

 Jan 30, 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.