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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
                                                                                          December 27, 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 26, 2007 Dec 19, 2007 Dec 27, 2006 Dec 26, 2007
Federal Reserve Banks

Reserve Bank Credit                                         873,512    +   2,582    +  21,265      877,148
 Securities held outright                                   754,605    -  15,143    -  24,346      754,612       
    U.S. Treasury (1)                                       754,605    -  15,143    -  24,346      754,612
       Bills (2)                                            241,856    -  15,163    -  35,163      241,856
       Notes and bonds, nominal (2)                         470,984            0    +   3,120      470,984
       Notes and bonds, inflation-indexed (2)                36,911            0    +   6,806       36,911
       Inflation compensation (3)                             4,855    +      21    +     891        4,862
    Federal agency (2)                                            0            0            0            0      
 Repurchase agreements(4)                                    39,536    -  16,214    +   6,500       42,500
 Term auction credit                                         20,000    +  20,000    +  20,000       20,000  
 Other loans                                                  4,828    +     209    +   4,679        4,535
    Primary credit                                            4,802    +     216    +   4,738        4,513
    Secondary credit                                              0            0            0            0
    Seasonal credit                                              26    -       6    -      59           22
 Float                                                         -902    -     533    -   1,777         -336
 Other Federal Reserve assets                                55,445    +  14,262    +  16,209       55,837
Gold stock                                                   11,041            0            0       11,041
Special drawing rights certificate account                    2,200            0            0        2,200
Treasury currency outstanding (5)                            38,807    +      14    +     609       38,807
       
Total factors supplying reserve funds                       925,560    +   2,596    +  21,873      929,196
                                                                   
Currency in circulation(5)                                  825,624    +   6,053    +   8,800      829,193
Reverse repurchase agreements (6)                            39,120    +   2,031    +   8,611       40,542
   Foreign official and international accounts               39,120    +   2,031    +   8,611       40,542
   Dealers                                                        0            0            0            0
Treasury cash holdings                                          246    -       1    +      16          246
Deposits with F.R.Banks, other than reserve balances         11,906    -   2,569    -     529       11,535       
  U.S. Treasury, general account                              4,910    -   2,590    -     330        4,529
  Foreign official                                               97    -       7    +       5           97
  Service-related                                             6,615    +      17    -     222        6,615
     Required clearing balances                               6,615    +      74    -     222        6,615
     Adjustments to compensate for float                          0    -      57            0            0
  Other                                                         283    +      11    +      17          293
Other liabilities and capital                                42,799    -      10    +   5,975       42,900

Total factors, other than reserve balances,                                        
   absorbing reserve funds                                  919,694    +   5,504    +  22,872      924,415

Reserve balances with Federal Reserve Banks                   5,865    -   2,910    -   1,000        4,781
                                                                

Memo (off-balance-sheet items):
  Marketable securities held in custody for foreign
         official and international accounts(2,7)         2,056,411    +   8,516    + 304,309    2,062,315
     U.S. Treasury                                        1,226,184    +   1,551    +  70,299    1,230,621
     Federal agency                                         830,227    +   6,965    + 234,010      831,694
  Securities lent to dealers                                 14,130    +   3,378    +  10,805       17,462   


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 26, 2007     Dec 19, 2007     Dec 27, 2006

Assets
Gold certificate account                                        11,037                0                0
Special drawing rights certificate account                       2,200                0                0
Coin                                                             1,173        -      25        +     373
Securities, repurchase agreements, term auction
      credit, and other loans                                  821,647        -  10,624        +   6,221
   Securities held outright                                    754,612        -  15,143        -  24,326
      U.S. Treasury (1)                                        754,612        -  15,143        -  24,326       
         Bills (2)                                             241,856        -  15,163        -  35,163
         Notes and bonds, nominal (2)                          470,984                0        +   3,120
         Notes and bonds, inflation-indexed (2)                 36,911                0        +   6,806
         Inflation compensation (3)                              4,862        +      20        +     911
      Federal agency (2)                                             0                0                0
   Repurchase agreements (4)                                    42,500        -  15,250        +   6,500    
   Term auction credit                                          20,000        +  20,000        +  20,000
   Other loans                                                   4,535        -     230        +   4,047
Items in process of collection                      (496)        1,881        -   1,504        -   3,256
Bank premises                                                    2,128        +       4        +     184
Other assets (5)                                                53,752        +  14,691        +  16,403
      Total assets                                  (496)      893,818        +   2,542        +  19,924
                          
Liabilities
Federal Reserve notes, net of FR Bank holdings                 791,801        +   6,016        +   9,068
Reverse repurchase agreements (6)                               40,542        +   4,112        +   8,416
Deposits                                              (0)       16,358        -   6,244        -   1,233       
  Depository institutions                                       11,439        -   6,222        -   1,333
  U.S. Treasury, general account                                 4,529        -      57        +      59
  Foreign official                                                  97        +       1        +       5
  Other                                               (0)          293        +      33        +      35
Deferred availability cash items                    (496)        2,216        -   1,839        -   2,511
Other liabilities and accrued dividends (7)                      5,789        -      71        -     198
      Total liabilities                             (496)      856,706        +   1,973        +  13,543
                          
Capital Accounts
Capital paid in                                                 18,353        +     136        +   3,025
Surplus                                                         15,462        +       2        +   4,908
Other capital accounts                                           3,297        +     430        -   1,551
      Total capital                                             37,112        +     569        +   6,381


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,  December 26, 2007
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               0        4,535      46,058   -   2,756       42,500       40,542
16 days to 90 days      20,000            0     146,785   -   7,069            0            0
91 days to 1 year     ------              0     157,614   -   5,337     ------      ------
Over 1 to 5 years     ------       ------       233,402   +       8     ------      ------
Over 5 to 10 years    ------       ------        81,945   +       3     ------      ------
Over 10 years         ------       ------        88,809   +       8     ------      ------
                   		 	
All                     20,000        4,535     754,612   -  15,143       42,500       40,542

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  December 26, 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                                           1,173         35         54         88        111        137        151        134         50         45         72        131        166
Securities, repurchase agreements, term
      auction credit, and other loans        821,647     36,736    309,622     35,265     32,620     69,088     73,930     67,345     26,476     15,907     25,819     36,424     92,413
   Securities held outright                  754,612     34,777    273,243     33,384     30,881     65,381     69,989     63,294     24,118     15,056     24,427     33,155     86,906
      U.S. Treasury (1)                      754,612     34,777    273,243     33,384     30,881     65,381     69,989     63,294     24,118     15,056     24,427     33,155     86,906
         Bills (2)                           241,856     11,146     87,575     10,700      9,898     20,955     22,432     20,286      7,730      4,826      7,829     10,626     27,854
         Notes and bonds(3)                  512,756     23,631    185,668     22,685     20,984     44,426     47,557     43,008     16,388     10,231     16,598     22,529     59,052
         Federal agency (2)                        0          0          0          0          0          0          0          0          0          0          0          0          0
      Repurchase agreements(4)                42,500      1,959     15,389      1,880      1,739      3,682      3,942      3,565      1,358        848      1,376      1,867      4,895
      Term auction credit                     20,000          0     16,490          0          0         25          0        475      1,000         0          0      1,400        610     
      Other loans                              4,535          0      4,500          0          0          0          0         11          0          3         16          2          3
Items in process of collection                 2,376         97        141        209        454        120        -91        258         18        236        295        122        517
Bank premises                                  2,128        119        215         64        154        181        230        205        112        113        264        257        214
Other assets(5)                               53,752      1,677     15,679      5,073      3,299     11,298      4,537      3,354        919        994        945      1,217      4,761
Interdistrict settlement account                   0    - 1,183    -15,149    -   396    +   661    + 2,193    + 1,398    + 7,650    + 3,750    + 1,127    + 5,100    - 2,435    - 2,716
          Total Assets                       894,314     38,044    315,490     40,840     37,831     84,034     81,438     80,061     31,722     18,655     32,896     36,427     96,875

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 26, 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           1,011,737     39,299    356,567     42,075     39,654     81,385    108,549     87,047     33,320     19,415     33,703     57,582    113,141
  Less: notes held by F.R. Banks              219,937      5,889     74,454      7,796      7,294     13,936     35,900     13,736      3,854      2,877      3,270     24,747     26,185
    Federal Reserve notes, net                791,801     33,409    282,113     34,279     32,360     67,449     72,650     73,311     29,466     16,538     30,433     32,835     86,956
Reverse repurchase agreements (1)              40,542      1,868     14,680      1,794      1,659      3,513      3,760      3,401      1,296        809      1,312      1,781      4,669
Deposits                                       16,358        425      7,559        452        683      1,789      1,311        863        354        233        415        663      1,611
  Depository institutions                      11,439        419      2,747        447        677      1,724      1,308        860        343        233        413        662      1,607
  U.S. Treasury, general account                4,529          0      4,529          0          0          0          0          0          0          0          0          0          0
  Foreign official                                 97          1         66          5          3         11          3          2          0          1          0          1          3
  Other                                           293          6        216          0          3         54          0          0         11          0          2          0          0
Deferred availability cash items                2,712        126         98        374        382        305        258        307         25        199        147        135        354
Other liabilities and accrued                 
  dividends (2)                                 5,789        254      1,692        278        271        976        556        443        200        152        183        259        525
   
    Total liabilities                         857,202     36,083    306,142     37,178     35,354     74,031     78,536     78,324     31,342     17,932     32,491     35,674     94,115
                              
Capital                    
Capital paid in                                18,353      1,049      4,538      1,813      1,291      4,996      1,420        819        180        354        190        362      1,339
Surplus                                        15,462        396      3,845      1,812      1,088      4,099      1,279        861        167        276        176        215      1,248
Other capital                                   3,297        516        965         38         98        907        203         57         33         92         38        176        173
     Total liabilities and capital            894,314     38,044    315,490     40,840     37,831     84,034     81,438     80,061     31,722     18,655     32,896     36,427     96,875
                              

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 26, 2007
              
Federal Reserve notes outstanding           1,011,737
   Less: Notes held by F.R. Banks
         not subject to collateralization     219,937
      Federal Reserve notes to be
         collateralized                       791,801 
Collateral held against Federal Reserve            
   notes                                      791,801
   Gold certificate account                    11,037
   Special drawing rights                 
     certificate account                        2,200
   U.S. Treasury and agency securities   
     pledged (1)                              756,516
   Other assets pledged                        22,048

Memo:
Total U.S. Treasury and agency 
       securities (1)                         797,112
   Less:face value of securities under
         reverse repurchase agreements         40,596
      U.S. Treasury and agency securities
             eligible to be pledged           756,516
   

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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