FEDERAL RESERVE Statistical Release

H.4.1
Factors Affecting Reserve Balances of Depository Institutions and
Condition Statement of Federal Reserve Banks
                                                                                          December 20, 2007
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           Dec 19, 2007 Dec 12, 2007 Dec 20, 2006 Dec 19, 2007
Federal Reserve Banks

Reserve Bank Credit                                         870,930    +   7,157    +  25,466      872,803
 Securities held outright                                   769,748    -   4,980    -   7,182      769,755       
    U.S. Treasury (1)                                       769,748    -   4,980    -   7,182      769,755
       Bills (2)                                            257,019    -   5,000    -  20,000      257,019
       Notes and bonds, nominal (2)                         470,984            0    +   5,186      470,984
       Notes and bonds, inflation-indexed (2)                36,911            0    +   6,806       36,911
       Inflation compensation (3)                             4,834    +      20    +     826        4,842
    Federal agency (2)                                            0            0            0            0      
 Repurchase agreements(4)                                    55,750    +  10,107    +  26,821       57,750
 Loans to depository institutions                             4,619    +   1,572    +   4,427        4,765
    Primary credit                                            4,586    +   1,577    +   4,479        4,735
    Secondary credit                                              0    -       3            0            0
    Seasonal credit                                              32    -       4    -      53           31
 Float                                                         -369    +     413    -   1,266         -670
 Other Federal Reserve assets                                41,183    +      46    +   2,666       41,203
Gold stock                                                   11,041            0            0       11,041
Special drawing rights certificate account                    2,200            0            0        2,200
Treasury currency outstanding (5)                            38,793    +      14    +     602       38,793
       
Total factors supplying reserve funds                       922,964    +   7,171    +  26,067      924,838
                                                                   
Currency in circulation(5)                                  819,571    +   1,276    +  10,920      823,138
Reverse repurchase agreements (6)                            37,089    -     883    +   7,548       36,430
   Foreign official and international accounts               37,089    -     883    +   7,548       36,430
   Dealers                                                        0            0            0            0
Treasury cash holdings                                          247    -       9    +      43          246
Deposits with F.R.Banks, other than reserve balances         14,475    +   2,718    +   1,046       11,540       
  U.S. Treasury, general account                              7,500    +   2,669    +   1,434        4,586
  Foreign official                                              104    +       7    +       9           96
  Service-related                                             6,598    +      45    -     425        6,598
     Required clearing balances                               6,541            0    -     475        6,541
     Adjustments to compensate for float                         57    +      44    +      50           57
  Other                                                         272    -       3    +      27          260
Other liabilities and capital                                42,809    -     255    +   6,383       42,403

Total factors, other than reserve balances,                                        
   absorbing reserve funds                                  914,190    +   2,847    +  25,939      913,757

Reserve balances with Federal Reserve Banks                   8,775    +   4,324    +     130       11,080
                                                                

Memo (off-balance-sheet items):
  Marketable securities held in custody for foreign
         official and international accounts(2,7)         2,047,895    +   7,592    + 305,793    2,047,648
     U.S. Treasury                                        1,224,633    -   3,981    +  68,034    1,221,665
     Federal agency                                         823,262    +  11,574    + 237,760      825,983
  Securities lent to dealers                                 10,752    +   2,833    +   9,789        8,449   


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 Dec 19, 2007     Dec 12, 2007     Dec 20, 2006

Assets
Gold certificate account                                        11,037                0                0
Special drawing rights certificate account                       2,200                0                0
Coin                                                             1,198        -      11        +     377
Securities, repurchase agreements, and loans                   832,271        +   5,239        +  21,042
   Securities held outright                                    769,755        -   4,980        -   7,883
      U.S. Treasury (1)                                        769,755        -   4,980        -   7,883       
         Bills (2)                                             257,019        -   5,000        -  20,000
         Notes and bonds, nominal (2)                          470,984                0        +   4,462
         Notes and bonds, inflation-indexed (2)                 36,911                0        +   6,806
         Inflation compensation (3)                              4,842        +      21        +     849
      Federal agency (2)                                             0                0                0
   Repurchase agreements (4)                                    57,750        +  10,000        +  24,250    
   Loans                                                         4,765        +     218        +   4,675
Items in process of collection                      (709)        3,385        +     972        -   1,429
Bank premises                                                    2,124        +       4        +     193
Other assets (5)                                                39,061        -      26        +   2,148
      Total assets                                  (709)      891,276        +   6,179        +  22,332
                          
Liabilities
Federal Reserve notes net of FR Bank holdings                  785,785        +   3,272        +   9,876
Reverse repurchase agreements (6)                               36,430        -   1,334        +   6,527
Deposits                                              (0)       22,602        +   3,991        +     330       
  Depository institutions                                       17,661        +   3,772        +   1,172
  U.S. Treasury, general account                                 4,586        +     253        -     850
  Foreign official                                                  96        -       1        +       7
  Other                                               (0)          260        -      32        +       2
Deferred availability cash items                    (709)        4,055        +     670        -     412
Other liabilities and accrued dividends (7)                      5,860        -      87        -      89
      Total liabilities                             (709)      854,733        +   6,513        +  16,234
                          
Capital Accounts
Capital paid in                                                 18,217        -      65        +   2,891
Surplus                                                         15,460        -       1        +   4,906
Other capital accounts                                           2,867        -     266        -   1,698
      Total capital                                             36,543        -     334        +   6,098


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 Loans and Securities,  December 19, 2007
Millions of dollars
                                    U.S. Treasury           Federal agency                      Reverse
Maturity             Loans           securities (1)          securities           Repurchase   repurchase
                                              Weekly                    Weekly    agreements(2)agreements(2)
                                  Holdings    changes      Holdings    changes    
Within 15 days             265       48,814   +   2,703            0           0       49,750       36,430
16 days to 90 days       4,500      153,854   -   8,842            0           0        8,000            0
91 days to 1 year            0      162,951   +   2,463            0           0     ------      ------
Over 1 to 5 years     ------        233,394   -   1,315            0           0     ------      ------
Over 5 to 10 years    ------         81,942   +       4            0           0     ------      ------
Over 10 years         ------         88,801   +       8            0           0     ------      ------
                   		 	
All                      4,765      769,755   -   4,980            0           0       57,750      36,430

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 classified by remaining maturity of the agreements.



4. Statement of Condition of Each Federal Reserve Bank on  December 19, 2007
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                                           1,198         38         56         90        112        139        157        138         52         46         73        130        166
Securities, repurchase agreements,
      and loans                              832,271     38,362    304,138     36,614     33,864     71,697     76,749     69,413     26,448     16,518     26,801     36,360     95,306
   Securities held outright                  769,755     35,475    278,726     34,054     31,501     66,693     71,393     64,565     24,602     15,358     24,918     33,820     88,650
      U.S. Treasury (1)                      769,755     35,475    278,726     34,054     31,501     66,693     71,393     64,565     24,602     15,358     24,918     33,820     88,650
         Bills (2)                           257,019     11,845     93,066     11,371     10,518     22,269     23,838     21,558      8,215      5,128      8,320     11,293     29,600
         Notes and bonds(3)                  512,736     23,630    185,660     22,684     20,983     44,425     47,555     43,007     16,388     10,230     16,598     22,528     59,050
         Federal agency (2)                        0          0          0          0          0          0          0          0          0          0          0          0          0
      Repurchase agreements(4)                57,750      2,661     20,911      2,555      2,363      5,004      5,356      4,844      1,846      1,152      1,869      2,537      6,651
      Loans                                    4,765        226      4,501          5          0          0          0          5          0          7         14          3          5
Items in process of collection                 4,094        108         67        343      1,204        188        185        235        108        248        679        162        567
Bank premises                                  2,124        119        215         64        154        181        230        204        110        113        264        257        214
Other assets(5)                               39,061      1,287     12,055      3,374      2,265      7,460      3,300      2,526        752        728        766        999      3,549
Interdistrict settlement account                   0    - 2,308    - 6,882    -    74    -   625    + 4,761    -   854    + 5,954    + 3,663    +   827    + 3,775    - 2,698    - 5,540
          Total Assets                       891,985     38,171    314,574     40,950     37,507     85,441     81,050     79,585     31,529     18,713     32,760     35,922     95,783

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  December 19, 2007
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           1,014,232     39,332    357,705     42,109     39,690     81,451    109,388     87,113     33,349     19,434     33,726     57,653    113,282
  Less: notes held by F.R. Banks              228,447      6,253     76,445      8,156      7,915     14,542     36,948     14,611      4,033      3,012      3,538     25,255     27,739
    Federal Reserve notes, net                785,785     33,079    281,261     33,953     31,775     66,909     72,440     72,501     29,316     16,423     30,188     32,398     85,542
Reverse repurchase agreements (1)              36,430      1,679     13,191      1,612      1,491      3,156      3,379      3,056      1,164        727      1,179      1,601      4,196
Deposits                                       22,602        977      9,069        672      1,113      4,100      1,393      1,469        362        334        372        678      2,063
  Depository institutions                      17,661        966      4,246        667      1,109      4,027      1,390      1,466        350        334        370        677      2,059
  U.S. Treasury, general account                4,586          0      4,586          0          0          0          0          0          0          0          0          0          0
  Foreign official                                 96          1         66          5          3         11          3          2          0          1          0          1          3
  Other                                           260         10        172          1          2         62          0          0         12          0          2          0          0
Deferred availability cash items                4,764        245        141        807        552        375        426        375        105        361        439        233        707
Other liabilities and accrued                 
  dividends (2)                                 5,860        261      1,698        283        272        975        557        455        206        155        191        265        542
   
    Total liabilities                         855,442     36,241    305,360     37,327     35,203     75,515     78,195     77,856     31,154     17,999     32,369     35,173     93,050
                              
Capital                    
Capital paid in                                18,217      1,049      4,538      1,814      1,154      4,996      1,420        819        180        354        190        362      1,339
Surplus                                        15,460        396      3,845      1,810      1,088      4,099      1,279        861        167        276        176        215      1,248
Other capital                                   2,867        485        832          0         61        831        156         50         28         83         24        171        146
     Total liabilities and capital            891,985     38,171    314,574     40,950     37,507     85,441     81,050     79,585     31,529     18,713     32,760     35,922     95,783
                              

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
                                          Dec 19, 2007
              
Federal Reserve notes outstanding           1,014,232
   Less: Notes held by F.R. Banks
         not subject to collateralization     228,447
      Federal Reserve Notes to be
         collateralized                       785,785 
Collateral held against Federal Reserve            
   notes                                      785,785
   Gold certificate account                    11,037
   Special drawing rights                 
     certificate account                        2,200
   U.S. Treasury and agency securities   
     pledged (1)                              772,548
   Other assets pledged                             0

Memo:
Total U.S. Treasury and agency 
       securities (1)                         827,505
   Less:face value of securities under
         reverse repurchase agreements         36,470
      U.S. Treasury and agency securities
             eligible to be pledged           791,035
   

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.