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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
                                                                                               May 31, 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           May 30, 2007 May 23, 2007 May 31, 2006 May 30, 2007
Federal Reserve Banks

Reserve Bank Credit                                         853,787    +   3,688    +  26,827      861,366
 Securities held outright                                   790,236    +      83    +  27,835      790,260       
    U.S. Treasury (1)                                       790,236    +      83    +  27,835      790,260
       Bills (2)                                            277,019            0    +   1,649      277,019
       Notes and bonds, nominal (2)                         474,672            0    +  13,822      474,672
       Notes and bonds, inflation-indexed (2)                34,459            0    +  11,813       34,459
       Inflation compensation (3)                             4,087    +      84    +     552        4,111
    Federal agency (2)                                            0            0            0            0      
 Repurchase agreements(4)                                    25,857    +   3,786    -     572       31,000
 Loans to depository institutions                               128    -      14    -      67          121
    Primary credit                                                6    -      36    -      17            1
    Secondary credit                                              0            0            0            0
    Seasonal credit                                             122    +      21    -      50          120
 Float                                                       -1,413    -     478    +     116          858
 Other Federal Reserve assets                                38,979    +     312    -     486       39,127
Gold stock                                                   11,041            0            0       11,041
Special drawing rights certificate account                    2,200            0            0        2,200
Treasury currency outstanding (5)                            38,483    +      14    +     503       38,483
       
Total factors supplying reserve funds                       905,512    +   3,702    +  27,331      913,091
                                                                   
Currency in circulation(5)                                  813,626    +   4,781    +  15,437      815,177
Reverse repurchase agreements (6)                            32,764    +     549    +   9,180       34,860
   Foreign official and international accounts               32,764    +     549    +   9,180       34,860
   Dealers                                                        0            0            0            0
Treasury cash holdings                                          281    +      15    +      93          286
Deposits with F.R.Banks, other than reserve balances         12,143    +     392    -     647       11,563       
  U.S. Treasury, general account                              5,183    +     270    +     313        4,637
  Foreign official                                               94            0    +       6           94
  Service-related                                             6,580    +     111    -   1,000        6,580
     Required clearing balances                               6,580    +     111    -   1,000        6,580
     Adjustments to compensate for float                          0            0            0            0
  Other                                                         287    +      12    +      34          253
Other liabilities and capital                                39,269    +     209    +   5,267       38,892

Total factors, other than reserve balances,                                        
   absorbing reserve funds                                  898,083    +   5,946    +  29,330      900,777

Reserve balances with Federal Reserve Banks                   7,429    -   2,244    -   1,999       12,313
                                                                

Memo (off-balance-sheet items):
  Marketable securities held in custody for foreign
         official and international accounts(2,7)         1,959,312    +  14,576    + 344,757    1,962,529
     U.S. Treasury                                        1,231,410    +   9,673    + 116,762    1,234,593
     Federal agency                                         727,902    +   4,903    + 227,995      727,936
  Securities lent to dealers                                  4,203    +      47    +   1,327        8,942   


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 May 30, 2007     May 23, 2007     May 31, 2006

Assets
Gold certificate account                                        11,037                0                0
Special drawing rights certificate account                       2,200                0                0
Coin                                                               880        -      25        +     164
Securities, repurchase agreements, and loans                   821,381        -     169        +  28,013
   Securities held outright                                    790,260        +      78        +  27,849
      U.S. Treasury (1)                                        790,260        +      78        +  27,849       
         Bills (2)                                             277,019                0        +   1,649
         Notes and bonds, nominal (2)                          474,672                0        +  13,822
         Notes and bonds, inflation-indexed (2)                 34,459                0        +  11,813
         Inflation compensation (3)                              4,111        +      79        +     566
      Federal agency (2)                                             0                0                0
   Repurchase agreements (4)                                    31,000        -     250        +     250    
   Loans                                                           121        +       3        -      86
Items in process of collection                    (1,234)        5,934        +   2,799        -   2,478
Bank premises                                                    2,016        +       2        +     179
Other assets (5)                                                37,267        +     432        -      47
      Total assets                                (1,234)      880,715        +   3,039        +  25,832
                          
Liabilities
Federal Reserve notes net of FR Bank holdings                  777,855        +   3,749        +  15,825
Reverse repurchase agreements (6)                               34,860        +   2,242        +  10,257
Deposits                                              (0)       24,032        -   3,862        -   2,328       
  Depository institutions                                       19,049        -   4,174        -   4,346
  U.S. Treasury, general account                                 4,637        +     325        +   2,000
  Foreign official                                                  94        +       1        +       8
  Other                                               (0)          253        -      13        +      11
Deferred availability cash items                  (1,234)        5,077        +     769        -   2,306
Other liabilities and accrued dividends (7)                      5,971        +      51        +   1,083
      Total liabilities                           (1,234)      847,794        +   2,947        +  22,530
                          
Capital Accounts
Capital paid in                                                 16,102        +      81        +   1,146
Surplus                                                         15,375        +       1        +   2,474
Other capital accounts                                           1,444        +      10        -     318
      Total capital                                             32,921        +      92        +   3,302


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,       May 30, 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             119       70,503   +   1,310            0           0       31,000       34,860
16 days to 90 days           2      164,252   -     672            0           0            0            0
91 days to 1 year            0      169,274   -     633            0           0     ------      ------
Over 1 to 5 years     ------        229,514   +      24            0           0     ------      ------
Over 5 to 10 years    ------         74,496   +      19            0           0     ------      ------
Over 10 years         ------         82,220   +      30            0           0     ------      ------
                   		 	
All                        121      790,260   +      78            0           0       31,000      34,860

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       May 30, 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                                             880         33         52         58         88         82         99        104         39         38         68         87        130
Securities, repurchase agreements,
      and loans                              821,381     37,854    297,376     36,333     33,609     71,156     76,173     68,922     26,277     16,411     26,601     36,086     94,583
   Securities held outright                  790,260     36,420    286,151     34,961     32,340     68,470     73,295     66,285     25,257     15,767     25,581     34,721     91,011
      U.S. Treasury (1)                      790,260     36,420    286,151     34,961     32,340     68,470     73,295     66,285     25,257     15,767     25,581     34,721     91,011
         Bills (2)                           277,019     12,767    100,308     12,255     11,336     24,001     25,693     23,235      8,854      5,527      8,967     12,171     31,903
         Notes and bonds(3)                  513,242     23,653    185,843     22,706     21,003     44,468     47,602     43,049     16,404     10,240     16,614     22,550     59,108
         Federal agency (2)                        0          0          0          0          0          0          0          0          0          0          0          0          0
      Repurchase agreements(4)                31,000      1,429     11,225      1,371      1,269      2,686      2,875      2,600        991        619      1,003      1,362      3,570
      Loans                                      121          6          0          0          0          0          3         37         29         26         16          3          2
Items in process of collection                 7,168        173        193        481      1,405        267        513      1,942        187        225        395        534        855
Bank premises                                  2,016        117        214         57        156        172        231        207         90        115        201        261        195
Other assets(5)                               37,267      1,237     11,542      3,245      2,138      6,993      3,173      2,413        724        698        733        972      3,399
Interdistrict settlement account                   0    - 1,925    - 1,210    -   859    - 4,349    + 2,027    + 5,689    +   184    +   315    -   677    + 1,316    + 1,312    - 1,822
          Total Assets                       881,949     38,054    313,093     39,853     33,578     81,714     87,162     74,886     28,028     17,043     29,714     39,963     98,859

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       May 30, 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             971,407     37,964    343,797     39,380     35,876     78,465    107,910     80,484     29,410     17,308     30,459     57,533    112,822
  Less: notes held by F.R. Banks              193,552      4,255     62,927      6,571      8,700     13,201     29,767     13,719      3,510      2,452      3,446     21,175     23,829
    Federal Reserve notes, net                777,855     33,709    280,870     32,809     27,175     65,264     78,143     66,764     25,900     14,856     27,013     36,357     88,993
Reverse repurchase agreements (1)              34,860      1,607     12,623      1,542      1,427      3,020      3,233      2,924      1,114        696      1,128      1,532      4,015
Deposits                                       24,032      1,299      8,750        713      1,796      4,043      1,556      2,448        311        268        444        640      1,763
  Depository institutions                      19,049      1,291      3,878        707      1,792      3,965      1,552      2,446        308        267        443        640      1,760
  U.S. Treasury, general account                4,637          0      4,637          0          0          0          0          0          0          0          0          0          0
  Foreign official                                 94          1         64          5          3         11          3          2          0          1          0          1          3
  Other                                           253          7        171          1          1         67          0          0          2          0          1          0          0
Deferred availability cash items                6,311        340        182        850        670        474        877        438        128        416        536        567        835
Other liabilities and accrued                 
  dividends (2)                                 5,971        261      1,837        296        285        804        579        479        215        156        198        278        581
   
    Total liabilities                         849,028     37,216    304,263     36,210     31,353     73,605     84,389     73,053     27,668     16,391     29,320     39,374     96,187
                              
Capital                    
Capital paid in                                16,102        403      4,281      1,807      1,100      3,978      1,391        887        173        321        187        278      1,295
Surplus                                        15,375        396      3,771      1,810      1,087      4,095      1,277        859        166        276        176        213      1,247
Other capital                                   1,444         38        778         26         38         36        106         87         21         56         31         98        130
     Total liabilities and capital            881,949     38,054    313,093     39,853     33,578     81,714     87,162     74,886     28,028     17,043     29,714     39,963     98,859
                              

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
                                          May 30, 2007
              
Federal Reserve notes outstanding             971,407
   Less: Notes held by F.R. Banks
         not subject to collateralization     193,552
      Federal Reserve Notes to be
         collateralized                       777,855 
Collateral held against Federal Reserve            
   notes                                      777,855
   Gold certificate account                    11,037
   Special drawing rights                 
     certificate account                        2,200
   U.S. Treasury and agency securities   
     pledged (1)                              764,618
   Other assets pledged                             0

Memo:
Total U.S. Treasury and agency 
       securities (1)                         821,260
   Less:face value of securities under
         reverse repurchase agreements         34,909
      U.S. Treasury and agency securities
             eligible to be pledged           786,351
   

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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