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`FEDERAL RESERVE Statistical Release

H.4.1
Factors Affecting Reserve Balances of Depository Institutions and
Condition Statement of Federal Reserve Banks
                                                                                             March 22, 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           Mar 21, 2007 Mar 14, 2007 Mar 22, 2006 Mar 21, 2007
Federal Reserve Banks

Reserve Bank Credit                                         851,125    -     468    +  30,297      848,973
 Securities held outright                                   780,857    +      24    +  23,616      780,866       
    U.S. Treasury (1)                                       780,857    +      24    +  23,616      780,866
       Bills (2)                                            277,019            0    +   2,877      277,019
       Notes and bonds, nominal (2)                         468,553            0    +  11,376      468,553
       Notes and bonds, inflation-indexed (2)                31,776            0    +   9,130       31,776
       Inflation compensation (3)                             3,509    +      24    +     234        3,518
    Federal agency (2)                                            0            0            0            0      
 Repurchase agreements(4)                                    31,750    -   1,036    +   2,857       29,750
 Loans to depository institutions                                40    -      13    -     363           29
    Primary credit                                               10    +       5    -     340            1
    Secondary credit                                              0    -      21            0            0
    Seasonal credit                                              30    +       2    -      22           29
 Float                                                         -603    +      98    -      83         -908
 Other Federal Reserve assets                                39,081    +     460    +   4,269       39,236
Gold stock                                                   11,041            0    -       3       11,041
Special drawing rights certificate account                    2,200            0            0        2,200
Treasury currency outstanding (5)                            38,352    +      14    +     499       38,352
       
Total factors supplying reserve funds                       902,718    -     453    +  30,794      900,566
                                                                   
Currency in circulation(5)                                  806,298    -     414    +  17,369      807,207
Reverse repurchase agreements (6)                            39,237    +   1,899    +  14,224       38,497
   Foreign official and international accounts               39,237    +   1,899    +  14,224       38,497
   Dealers                                                        0            0            0            0
Treasury cash holdings                                          237    +      18    +      39          270
Deposits with F.R.Banks, other than reserve balances         12,769    +     649    -     756       12,071       
  U.S. Treasury, general account                              5,408    +     370    +     266        4,721
  Foreign official                                               90    -      26    -      82           90
  Service-related                                             7,041    +     352    -     939        7,041
     Required clearing balances                               7,041    +     352    -     939        7,041
     Adjustments to compensate for float                          0            0            0            0
  Other                                                         229    -      49    -       2          220
Other liabilities and capital                                38,784    +      78    +   5,714       38,269

Total factors, other than reserve balances,                                        
   absorbing reserve funds                                  897,324    +   2,228    +  36,590      896,314

Reserve balances with Federal Reserve Banks                   5,394    -   2,681    -   5,796        4,252
                                                                

Memo (off-balance-sheet items):
  Marketable securities held in custody for foreign
         official and international accounts(2,7)         1,875,855    +  16,082    + 288,906    1,881,690
     U.S. Treasury                                        1,217,428    +   3,698    +  94,323    1,216,228
     Federal agency                                         658,427    +  12,384    + 194,583      665,462
  Securities lent to dealers                                  1,647    -     626    +      20        1,038   


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 21, 2007     Mar 14, 2007     Mar 22, 2006

Assets
Gold certificate account                                        11,037                0        -       3
Special drawing rights certificate account                       2,200                0                0
Coin                                                               931        -      21        +     136
Securities, repurchase agreements, and loans                   810,646        -  13,223        +  27,438
   Securities held outright                                    780,866        +      24        +  23,609
      U.S. Treasury (1)                                        780,866        +      24        +  23,609       
         Bills (2)                                             277,019                0        +   2,877
         Notes and bonds, nominal (2)                          468,553                0        +  11,376
         Notes and bonds, inflation-indexed (2)                 31,776                0        +   9,130
         Inflation compensation (3)                              3,518        +      24        +     226
      Federal agency (2)                                             0                0                0
   Repurchase agreements (4)                                    29,750        -  13,250        +   4,000    
   Loans                                                            29        +       2        -     172
Items in process of collection                      (688)        2,905        -      85        -   1,993
Bank premises                                                    1,974        +       5        +     149
Other assets (5)                                                37,260        +     291        +      60
      Total assets                                  (688)      866,952        -  13,034        +  25,787
                          
Liabilities
Federal Reserve notes net of FR Bank holdings                  770,052        -     693        +  17,147
Reverse repurchase agreements (6)                               38,497        -   1,230        +  14,346
Deposits                                              (0)       16,321        -  10,867        -   9,159       
  Depository institutions                                       11,290        -  10,456        -   9,481
  U.S. Treasury, general account                                 4,721        -     392        +     307
  Foreign official                                                  90                0        +      19
  Other                                               (0)          220        -      20        -       3
Deferred availability cash items                    (688)        3,813        -     143        -   2,279
Other liabilities and accrued dividends (7)                      5,811        +       7        +   1,237
      Total liabilities                             (688)      834,494        -  12,926        +  21,292
                          
Capital Accounts
Capital paid in                                                 15,857        +      34        +   2,126
Surplus                                                         15,339                0        +   2,438
Other capital accounts                                           1,262        -     142        -      69
      Total capital                                             32,458        -     108        +   4,495


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,     March 21, 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              29       58,762   +   6,642            0           0       29,750       38,497
16 days to 90 days           0      173,851   -   6,714            0           0            0            0
91 days to 1 year            0      174,608   +      74            0           0     ------      ------
Over 1 to 5 years     ------        224,576   +       6            0           0     ------      ------
Over 5 to 10 years    ------         66,546   +       7            0           0     ------      ------
Over 10 years         ------         82,524   +      10            0           0     ------      ------
                   		 	
All                         29      780,866   +      24            0           0       29,750      38,497

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     March 21, 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        486      4,139        463        446        853      1,023        947        328        211        324        575      1,242
Special drawing rights certificate acct.       2,200        115        874         83        104        147        166        212         71         30         66         98        234
Coin                                             931         37         61         63         99         88         96        110         38         39         70         87        143
Securities, repurchase agreements,
      and loans                              810,646     38,689    300,031     35,193     35,002     67,338     67,862     74,442     25,755     16,487     23,739     36,380     89,728
   Securities held outright                  780,866     37,262    289,020     33,902     33,718     64,867     65,372     71,699     24,809     15,875     22,865     35,044     86,434
      U.S. Treasury (1)                      780,866     37,262    289,020     33,902     33,718     64,867     65,372     71,699     24,809     15,875     22,865     35,044     86,434
         Bills (2)                           277,019     13,219    102,532     12,027     11,962     23,012     23,191     25,436      8,801      5,632      8,112     12,432     30,663
         Notes and bonds(3)                  503,847     24,043    186,488     21,875     21,756     41,855     42,180     46,263     16,008     10,243     14,754     22,612     55,771
         Federal agency (2)                        0          0          0          0          0          0          0          0          0          0          0          0          0
      Repurchase agreements(4)                29,750      1,420     11,011      1,292      1,285      2,471      2,491      2,732        945        605        871      1,335      3,293
      Loans                                       29          8          0          0          0          0          0         11          0          8          2          0          0
Items in process of collection                 3,593        134         79        649        345        330        414        215        102        134        393        185        611
Bank premises                                  1,974        117        211         57        157        170        231        205         82        116        178        260        189
Other assets(5)                               37,260      1,266     11,679      3,161      2,178      6,945      3,036      2,536        733        703        690        988      3,346
Interdistrict settlement account                   0    - 2,924    - 8,566    - 1,950    - 5,115    -   571    +14,876    - 4,806    +   846    -   836    + 3,727    + 2,033    + 3,287
          Total Assets                       867,640     37,920    308,508     37,720     33,216     75,300     87,705     73,861     27,954     16,884     29,187     40,607     98,779

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 21, 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             964,296     38,723    340,326     37,869     36,053     74,399    107,345     81,746     29,380     17,303     30,669     57,144    113,339
  Less: notes held by F.R. Banks              194,244      4,429     64,444      6,743      7,886     13,235     27,656     14,877      3,659      2,503      4,001     20,051     24,759
    Federal Reserve notes, net                770,052     34,295    275,882     31,125     28,166     61,163     79,689     66,869     25,721     14,800     26,668     37,093     88,580
Reverse repurchase agreements (1)              38,497      1,837     14,249      1,671      1,662      3,198      3,223      3,535      1,223        783      1,127      1,728      4,261
Deposits                                       16,321        434      7,745        360        505      1,593      1,162        877        322        234        385        663      2,041
  Depository institutions                      11,290        432      2,813        355        501      1,530      1,159        875        310        233        383        662      2,038
  U.S. Treasury, general account                4,721          0      4,721          0          0          0          0          0          0          0          0          0          0
  Foreign official                                 90          1         60          5          3         11          3          2          0          1          0          1          3
  Other                                           220          0        151          0          1         53          0          0         12          0          1          0          0
Deferred availability cash items                4,501        267         73        640        392        559        462        274        115        265        446        282        726
Other liabilities and accrued                 
  dividends (2)                                 5,811        266      1,872        277        283        678        520        518        215        155        186        280        562
   
    Total liabilities                         835,182     37,098    299,821     34,074     31,008     67,192     85,056     72,073     27,596     16,237     28,811     40,046     96,171
                              
Capital                    
Capital paid in                                15,857        396      4,220      1,810      1,090      3,972      1,312        863        168        317        179        265      1,268
Surplus                                        15,339        396      3,738      1,810      1,087      4,094      1,276        859        166        276        176        212      1,247
Other capital                                   1,262         30        729         26         32         42         61         66         24         54         20         84         94
     Total liabilities and capital            867,640     37,920    308,508     37,720     33,216     75,300     87,705     73,861     27,954     16,884     29,187     40,607     98,779
                              

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 21, 2007
              
Federal Reserve notes outstanding             964,296
   Less: Notes held by F.R. Banks
         not subject to collateralization     194,244
      Federal Reserve Notes to be
         collateralized                       770,052 
Collateral held against Federal Reserve            
   notes                                      770,052
   Gold certificate account                    11,037
   Special drawing rights                 
     certificate account                        2,200
   U.S. Treasury and agency securities   
     pledged (1)                              756,815
   Other assets pledged                             0

Memo:
Total U.S. Treasury and agency 
       securities (1)                         810,616
   Less:face value of securities under
         reverse repurchase agreements         38,569
      U.S. Treasury and agency securities
             eligible to be pledged           772,047
   

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.`

Statistical releases

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