FEDERAL RESERVE statistical release H.4.1 Factors Affecting Reserve Balances of Depository Institutions and Condition Statement of Federal Reserve Banks January 8, 2009 1. Factors Affecting Reserve Balances of Depository Institutions Millions of dollars Reserve Bank credit, related items, and Averages of daily figures reserve balances of depository institutions at Week ended Change from week ended Wednesday Federal Reserve Banks Jan 7, 2009 Dec 31, 2008 Jan 9, 2008 Jan 7, 2009 Reserve Bank credit 2,177,564 - 68,963 +1,308,385 2,122,397 Securities held outright 495,383 - 844 - 232,799 494,976 U.S. Treasury (1) 475,797 - 164 - 252,385 475,718 Bills (2) 18,423 0 - 196,937 18,423 Notes and bonds, nominal (2) 410,491 0 - 60,493 410,491 Notes and bonds, inflation-indexed (2) 41,071 0 + 4,160 41,071 Inflation compensation (3) 5,811 - 164 + 883 5,732 Federal agency (2) 19,587 - 679 + 19,587 19,258 Repurchase agreements (4) 77,143 - 2,857 + 44,107 60,000 Term auction credit 406,805 - 43,414 + 366,805 384,031 Other loans 185,801 - 1,969 + 184,284 178,277 Primary credit 87,935 + 1,385 + 86,423 83,677 Secondary credit 16 - 2 + 16 10 Seasonal credit 2 - 2 - 3 0 Primary dealer and other broker-dealer credit (5) 35,977 - 2,499 + 35,977 34,326 Asset-backed commercial paper money market mutual fund liquidity facility 22,868 - 929 + 22,868 21,143 Credit extended to American International Group, Inc. (6) 39,003 + 79 + 39,003 39,120 Other credit extensions 0 0 0 0 Net portfolio holdings of Commercial Paper Funding Facility LLC (7) 334,272 + 1,862 + 334,272 334,409 Net portfolio holdings of LLCs funded through the money market investor funding facility (8) 0 0 0 0 Net portfolio holdings of Maiden Lane LLC (9) 27,028 + 54 + 27,028 27,061 Net portfolio holdings of Maiden Lane II LLC (10) 20,071 + 12 + 20,071 19,794 Net portfolio holdings of Maiden Lane III LLC (11) 26,798 - 1,192 + 26,798 26,881 Float -1,462 - 600 - 730 -1,721 Other Federal Reserve assets 605,725 - 20,016 + 538,548 598,689 Gold stock 11,041 0 0 11,041 Special drawing rights certificate account 2,200 0 0 2,200 Treasury currency outstanding (12) 38,871 + 14 + 190 38,871 Total factors supplying reserve funds 2,229,676 - 68,949 +1,308,575 2,174,509 Note: Components may not sum to totals because of rounding. Footnotes appear on the following page. 1. Factors Affecting Reserve Balances of Depository Institutions, continued Millions of dollars Reserve Bank credit, related items, and Averages of daily figures reserve balances of depository institutions at Week ended Change from week ended Wednesday Federal Reserve Banks Jan 7, 2009 Dec 31, 2008 Jan 9, 2008 Jan 7, 2009 Currency in circulation (12) 887,700 - 1,233 + 65,126 884,860 Reverse repurchase agreements (13) 88,668 + 4,226 + 49,613 88,913 Foreign official and international accounts 88,668 + 4,226 + 49,613 88,913 Dealers 0 0 0 0 Treasury cash holdings 260 + 10 - 4 267 Deposits with F.R. Banks, other than reserve balances 306,200 - 91,626 + 294,062 291,939 U.S. Treasury, general account 66,137 - 48,092 + 60,991 62,686 U.S. Treasury, supplementary financing account 229,403 - 34,197 + 229,403 224,416 Foreign official 1,572 + 1,067 + 1,470 194 Service-related 4,388 + 2 - 2,258 4,388 Required clearing balances 4,387 + 2 - 2,259 4,387 Adjustments to compensate for float 2 + 2 + 2 2 Other 4,700 - 10,406 + 4,457 254 Other liabilities and capital (14) 68,668 - 10,646 + 25,790 66,775 Total factors, other than reserve balances, absorbing reserve funds 1,351,498 - 99,268 + 434,589 1,332,754 Reserve balances with Federal Reserve Banks 878,178 + 30,319 + 873,986 841,754 Note: Components may not sum to totals because of rounding. 1. Includes securities lent to dealers under the overnight and term securities lending facilities; refer to table 1A. 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. 5. Includes credit extended through the Primary Dealer Credit Facility and credit extended to certain other broker-dealers. 6. Excludes credit extended to consolidated LLCs. 7. Refer to table 6 and the note on consolidation accompanying table 9. 8. Refer to table 7 and the note on consolidation accompanying table 9. 9. Refer to table 3 and the note on consolidation accompanying table 9. 10. Refer to table 4 and the note on consolidation accompanying table 9. 11. Refer to table 5 and the note on consolidation accompanying table 9. 12. Estimated. 13. Cash value of agreements, which are collateralized by U.S. Treasury securities. 14. Includes the liabilities of Commercial Paper Funding Facility LLC, the LLCs funded through the Money Market Investor Funding Facility, Maiden Lane LLC, Maiden Lane II LLC, and Maiden Lane III LLC to entities other than the Federal Reserve Bank of New York, including liabilities that have recourse only to the portfolio holdings of these LLCs. Refer to table 3 through table 7 and the note on consolidation accompanying table 9. Sources: Federal Reserve Banks and the U.S. Department of the Treasury. 1A. Memorandum Items Millions of dollars Averages of daily figures Memorandum item Week ended Change from week ended Wednesday Jan 7, 2009 Dec 31, 2008 Jan 9, 2008 Jan 7, 2009 Marketable securities held in custody for foreign official and international accounts (1) 2,524,509 + 8,046 + 467,260 2,523,129 U.S. Treasury 1,710,446 + 11,009 + 478,608 1,707,958 Federal agency 814,062 - 2,964 - 11,349 815,171 Securities lent to dealers 169,639 - 10,023 + 159,953 162,660 Overnight facility (2) 8,539 + 2,048 - 1,147 6,810 Term facility (3) 161,100 - 12,071 + 161,100 155,850 Note: Components may not sum to totals because of rounding. 1. Face value of the securities. Includes U.S. Treasury STRIPS and other zero-coupon bonds at face value. 2. Fully collateralized by U.S. Treasury securities. 3. Fully collateralized by U.S. Treasury securities, federal agency securities, and other highly rated debt securities. 2. Maturity Distribution of Term Auction Credit, Other Loans, and Securities, January 7, 2009 Millions of dollars Remaining maturity Within 15 16 days to 91 days to Over 1 year Over 5 years Over 10 All days 90 days 1 year to 5 years to 10 years years Term auction credit 75,643 308,389 --- --- --- --- 384,031 Other loans (1) 116,804 22,352 0 39,120 --- --- 178,277 U.S. Treasury securities (2) Holdings 16,621 23,469 63,330 173,264 97,280 101,753 475,718 Weekly changes - 2,517 + 2,504 0 - 64 - 45 - 81 - 203 Federal agency securities Holdings 0 3,281 976 11,361 3,640 0 19,258 Weekly changes - 450 0 0 0 0 0 - 450 Commercial paper held by Commercial Paper Funding Facility LLC (3) 0 334,511 0 --- --- --- 334,511 Money market instruments held by LLCs funded through the money market investor funding facility (4) 0 0 0 --- --- --- 0 Repurchase agreements (5) 40,000 20,000 --- --- --- --- 60,000 Reverse repurchase agreements (5) 88,913 0 --- --- --- --- 88,913 Note: Components may not sum to totals because of rounding. --- Not applicable. 1. Excludes the loans from the Federal Reserve Bank of New York (FRBNY) to Commercial Paper Funding Facility LLC, the LLCs funded through the Money Market Investor Funding Facility, Maiden Lane LLC, Maiden Lane II LLC, and Maiden Lane III LLC. The loans were eliminated when preparing the FRBNY's statement of condition consistent with consolidation under generally accepted accounting principles. 2. 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. 3. Face value of commercial paper held by Commercial Paper Funding Facility LLC. 4. Face value of money market instruments held by LLCs funded through the Money Market Investor Funding Facility. 5. Cash value of agreements. 3. Information on Principal Accounts of Maiden Lane LLC Millions of dollars Wednesday Account name Jan 7, 2009 Net portfolio holdings of Maiden Lane LLC (1) 27,061 Outstanding principal amount of loan extended by the Federal Reserve Bank of New York (2) 28,820 Accrued interest payable to the Federal Reserve Bank of New York (2) 270 Outstanding principal amount and accrued interest on loan payable to JPMorgan Chase & Co. (3) 1,189 1. Fair value. Fair value reflects an estimate of the price that would be received upon selling an asset if the transaction were to be conducted in an orderly market on the measurement date. Revalued quarterly. This table reflects valuations as of September 30, 2008. Any assets purchased after this valuation date are initially recorded at cost until their estimated fair value as of the purchase date becomes available. 2. Book value. This amount was eliminated when preparing the Federal Reserve Bank of New York's statement of condition consistent with consolidation under generally accepted accounting principles. Refer to the note on consolidation accompanying table 9. 3. Book value. The fair value of these obligations is included in other liabilities and capital in table 1 and in other liabilities and accrued dividends in table 8 and table 9. Note: On June 26, 2008, the Federal Reserve Bank of New York (FRBNY) extended credit to Maiden Lane LLC under the authority of section 13(3) of the Federal Reserve Act. This limited liability company was formed to acquire certain assets of Bear Stearns and to manage those assets through time to maximize repayment of the credit extended and to minimize disruption to financial markets. Payments by Maiden Lane LLC from the proceeds of the net portfolio holdings will be made in the following order: operating expenses of the LLC, principal due to the FRBNY, interest due to the FRBNY, principal due to JPMorgan Chase & Co., and interest due to JPMorgan Chase & Co. Any remaining funds will be paid to the FRBNY. 4. Information on Principal Accounts of Maiden Lane II LLC Millions of dollars Wednesday Account name Jan 7, 2009 Net portfolio holdings of Maiden Lane II LLC (1) 19,794 Outstanding principal amount of loan extended by the Federal Reserve Bank of New York (2) 19,169 Accrued interest payable to the Federal Reserve Bank of New York (2) 33 Deferred payment and accrued interest payable to subsidiaries of American International Group, Inc. (3) 1,003 1. Fair value. Fair value reflects an estimate of the price that would be received upon selling an asset if the transaction were to be conducted in an orderly market on the measurement date. Revalued quarterly. This table reflects valuations as of December 12, 2008. Any assets purchased after this valuation date are initially recorded at cost until their estimated fair value as of the purchase date becomes available. 2. Book value. This amount was eliminated when preparing the Federal Reserve Bank of New York's statement of condition consistent with consolidation under generally accepted accounting principles. Refer to the note on consolidation accompanying table 9. 3. Book value. The deferred payment represents the portion of the proceeds of the net portfolio holdings due to subsidiaries of American International Group, Inc. in accordance with the asset purchase agreement. The fair value of this payment and accrued interest payable are included in other liabilities and capital in table 1 and in other liabilities and accrued dividends in table 8 and table 9. Note: On December 12, 2008, the Federal Reserve Bank of New York (FRBNY) began extending credit to Maiden Lane II LLC under the authority of section 13(3) of the Federal Reserve Act. This limited liability company was formed to purchase residential mortgage-backed securities from the U.S. securities lending reinvestment portfolio of subsidiaries of American International Group, Inc. (AIG subsidiaries). Payments by Maiden Lane II LLC from the proceeds of the net portfolio holdings will be made in the following order: operating expenses of Maiden Lane II LLC, principal due to the FRBNY, interest due to the FRBNY, and deferred payment and interest due to AIG subsidiaries. Any remaining funds will be shared by the FRBNY and AIG subsidiaries. 5. Information on Principal Accounts of Maiden Lane III LLC Millions of dollars Wednesday Account name Jan 7, 2009 Net portfolio holdings of Maiden Lane III LLC (1) 26,881 Outstanding principal amount of loan extended by the Federal Reserve Bank of New York (2) 24,339 Accrued interest payable to the Federal Reserve Bank of New York (2) 52 Outstanding principal amount and accrued interest on loan payable to American International Group, Inc. (3) 5,026 1. Fair value. Fair value reflects an estimate of the price that would be received upon selling an asset if the transaction were to be conducted in an orderly market on the measurement date. Revalued quarterly. This table reflects valuations as of November 25, 2008. Any assets purchased after this valuation date are initially recorded at cost until their estimated fair value as of the purchase date becomes available. 2. Book value. This amount was eliminated when preparing the Federal Reserve Bank of New York's statement of condition consistent with consolidation under generally accepted accounting principles. Refer to the note on consolidation accompanying table 9. 3. Book value. The fair value of these obligations is included in other liabilities and capital in table 1 and in other liabilities and accrued dividends in table 8 and table 9. Note: On November 25, 2008, the Federal Reserve Bank of New York (FRBNY) began extending credit to Maiden Lane III LLC under the authority of section 13(3) of the Federal Reserve Act. This limited liability company was formed to purchase multi-sector collateralized debt obligations (CDOs) on which the Financial Products group of American International Group, Inc. (AIG) has written credit default swap (CDS) contracts. In connection with the purchase of CDOs, the CDS counterparties will concurrently unwind the related CDS transactions. Payments by Maiden Lane III LLC from the proceeds of the net portfolio holdings will be made in the following order: operating expenses of Maiden Lane III LLC, principal due to the FRBNY, interest due to the FRBNY, principal due to AIG, and interest due to AIG. Any remaining funds will be shared by the FRBNY and AIG. 6. Information on Principal Accounts of Commercial Paper Funding Facility LLC Millions of dollars Wednesday Account name Jan 7, 2009 Commercial paper holdings, net (1) 333,133 Other investments, net 1,276 Net portfolio holdings of Commercial Paper Funding Facility LLC 334,409 Memorandum: Commercial paper holdings, face value 334,511 Outstanding principal amount of loan extended by the Federal Reserve Bank of New York (2) 332,495 Accrued interest payable to the Federal Reserve Bank of New York (2) 696 1. Book value, which includes amortized cost and related fees. 2. Book value. This amount was eliminated when preparing the Federal Reserve Bank of New York's statement of condition consistent with consolidation under generally accepted accounting principles. Refer to the note on consolidation accompanying table 9. Note: On October 27, 2008, the Federal Reserve Bank of New York began extending loans under the authority of section 13(3) of the Federal Reserve Act to Commercial Paper Funding Facility LLC. This LLC is a limited liability company formed to purchase three-month U.S. dollar-denominated commercial paper from eligible issuers and thereby foster liquidity in short-term funding markets and increase the availability of credit for businesses and households. 7. Information on Principal Accounts of LLCs Funded through the Money Market Investor Funding Facility Millions of dollars Wednesday Account name Jan 7, 2009 Money market instrument holdings, net (1) 0 Other investments, net 0 Net portfolio holdings of LLCs funded through the money market investor funding facility 0 Memorandum: Money market instrument holdings, face value 0 Outstanding principal amount of loan extended by the Federal Reserve Bank of New York (2) 0 Accrued interest payable to the Federal Reserve Bank of New York (2) 0 Commercial paper issued by LLCs funded through the money market investor funding facility, net of related discounts 0 1. Book value, which includes amortized cost. 2. Book value. This amount was eliminated when preparing the Federal Reserve Bank of New York's statement of condition consistent with consolidation under generally accepted accounting principles. Refer to the note on consolidation accompanying table 9. Note: On November 24, 2008, the Federal Reserve Board authorized the Federal Reserve Bank of New York to extend credit under the authority of section 13(3) of the Federal Reserve Act to a series of limited liability companies funded through the Money Market Investor Funding Facility. These limited liability companies were established to purchase short-term U.S. dollar-denominated certificates of deposit, bank notes, and outstanding asset-backed commercial paper from eligible issuers. Such purchases are designed to foster liquidity in short-term money markets. 8. Consolidated Statement of Condition of All Federal Reserve Banks Millions of dollars Eliminations Change since from Wednesday Wednesday Wednesday Assets, liabilities, and capital consolidation Jan 7, 2009 Dec 31, 2008 Jan 9, 2008 Assets Gold certificate account 11,037 0 0 Special drawing rights certificate account 2,200 0 0 Coin 1,704 + 16 + 502 Securities, repurchase agreements, term auction credit, and other loans 1,117,284 - 102,439 + 317,566 Securities held outright 494,976 - 653 - 233,227 U.S. Treasury (1) 475,718 - 203 - 252,485 Bills (2) 18,423 0 - 196,937 Notes and bonds, nominal (2) 410,491 0 - 60,493 Notes and bonds, inflation-indexed (2) 41,071 0 + 4,160 Inflation compensation (3) 5,732 - 204 + 784 Federal agency (2) 19,258 - 450 + 19,258 Repurchase agreements (4) 60,000 - 20,000 + 29,500 Term auction credit 384,031 - 66,188 + 344,031 Other loans 178,277 - 15,597 + 177,262 Net portfolio holdings of Commercial Paper Funding Facility LLC (5) 334,409 + 307 + 334,409 Net portfolio holdings of LLCs funded through the money market investor funding facility (6) 0 0 0 Net portfolio holdings of Maiden Lane LLC (7) 27,061 + 38 + 27,061 Net portfolio holdings of Maiden Lane II LLC (8) 19,794 - 323 + 19,794 Net portfolio holdings of Maiden Lane III LLC (9) 26,881 + 96 + 26,881 Items in process of collection (510) 1,489 + 510 - 1,158 Bank premises 2,182 - 12 + 50 Other assets (10) 596,504 - 23,553 + 531,440 Total assets (510) 2,140,543 - 125,361 +1,256,544 Liabilities Federal Reserve notes, net of F.R. Bank holdings 847,956 - 5,212 + 66,153 Reverse repurchase agreements (11) 88,913 + 561 + 51,140 Deposits (0) 1,133,690 - 114,344 +1,115,129 Depository institutions 846,140 - 13,860 + 833,248 U.S. Treasury, general account 62,686 - 43,437 + 57,323 U.S. Treasury, supplementary financing account 224,416 - 34,909 + 224,416 Foreign official 194 - 1,171 + 96 Other (0) 254 - 20,967 + 45 Deferred availability cash items (510) 3,209 + 738 - 175 Other liabilities and accrued dividends (12,13) 24,445 - 7,283 + 19,391 Total liabilities (510) 2,098,213 - 125,540 +1,251,637 Capital accounts Capital paid in 21,077 + 1 + 2,618 Surplus 20,806 - 270 + 2,450 Other capital accounts 447 + 447 - 160 Total capital 42,330 + 178 + 4,908 Note: Components may not sum to totals because of rounding. 1. Includes securities lent to dealers under the overnight and term securities lending facilities; refer to table 1A. 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. Refer to table 6 and the note on consolidation accompanying table 9. 6. Refer to table 7 and the note on consolidation accompanying table 9. 7. Refer to table 3 and the note on consolidation accompanying table 9. 8. Refer to table 4 and the note on consolidation accompanying table 9. 9. Refer to table 5 and the note on consolidation accompanying table 9. 10. Includes assets denominated in foreign currencies and any exchange-translation assets, which are revalued daily at market exchange rates. 11. Cash value of agreements, which are collateralized by U.S. Treasury securities. 12. Includes any exchange-translation liabilities, which are revalued daily at market exchange rates. 13. Includes the liabilities of Commercial Paper Funding Facility LLC, the LLCs funded through the Money Market Investor Funding Facility, Maiden Lane LLC, Maiden Lane II LLC, and Maiden Lane III LLC to entities other than the Federal Reserve Bank of New York, including liabilities that have recourse only to the portfolio holdings of these LLCs. Refer to table 3 through table 7 and the note on consolidation accompanying table 9. 9. Statement of Condition of Each Federal Reserve Bank, January 7, 2009 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 11,037 424 3,935 453 423 891 1,221 913 344 199 349 636 1,249 Special drawing rights certificate acct. 2,200 115 874 83 104 147 166 212 71 30 66 98 234 Coin 1,704 56 74 138 138 234 216 197 45 55 116 182 254 Securities, repurchase agreements, term auction credit, and other loans 1,117,284 56,307 539,931 58,208 31,262 120,223 69,521 54,385 22,779 16,381 26,766 28,585 92,935 Securities held outright 494,976 20,761 176,109 21,611 18,769 44,884 49,249 43,686 17,105 9,345 18,174 20,532 54,750 U.S. Treasury (1) 475,718 19,953 169,258 20,771 18,039 43,137 47,333 41,987 16,439 8,981 17,467 19,733 52,620 Bills (2) 18,423 773 6,555 804 699 1,671 1,833 1,626 637 348 676 764 2,038 Notes and bonds (3) 457,295 19,181 162,703 19,966 17,340 41,467 45,500 40,361 15,802 8,633 16,791 18,969 50,582 Federal agency (2) 19,258 808 6,852 841 730 1,746 1,916 1,700 665 364 707 799 2,130 Repurchase agreements (4) 60,000 2,517 21,348 2,620 2,275 5,441 5,970 5,296 2,073 1,133 2,203 2,489 6,637 Term auction credit 384,031 11,650 195,898 33,700 9,940 69,403 13,962 3,574 3,148 5,727 2,980 4,685 29,366 Other loans 178,277 21,379 146,576 277 277 496 341 1,829 453 177 3,409 880 2,183 Net portfolio holdings of Commercial Paper Funding Facility LLC (5) 334,409 0 334,409 0 0 0 0 0 0 0 0 0 0 Net portfolio holdings of LLCs funded through the money market investor funding facility (6) 0 0 0 0 0 0 0 0 0 0 0 0 0 Net portfolio holdings of Maiden Lane LLC (7) 27,061 0 27,061 0 0 0 0 0 0 0 0 0 0 Net portfolio holdings of Maiden Lane II LLC (8) 19,794 0 19,794 0 0 0 0 0 0 0 0 0 0 Net portfolio holdings of Maiden Lane III LLC (9) 26,881 0 26,881 0 0 0 0 0 0 0 0 0 0 Items in process of collection 1,999 52 0 219 264 106 516 231 15 138 49 163 244 Bank premises 2,182 123 210 64 147 228 225 207 130 112 273 250 212 Other assets (10) 596,504 33,823 150,788 57,835 41,254 158,855 46,268 27,063 6,200 11,469 6,679 12,098 44,171 Interdistrict settlement account 0 - 17,736 + 62,282 - 60,656 + 15,076 - 109,741 + 22,614 + 35,283 + 7,088 - 9,012 + 4,028 + 7,149 + 43,625 Total assets 2,141,053 73,163 1,166,239 56,344 88,668 170,943 140,748 118,491 36,673 19,371 38,327 49,162 182,923 Note: Components may not sum to totals because of rounding. 1. Includes securities lent to dealers under the overnight and term securities lending facilities; refer to table 1A. 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. Refer to table 6 and the note on consolidation on the following page. 6. Refer to table 7 and the note on consolidation on the following page. 7. Refer to table 3 and the note on consolidation on the following page. 8. Refer to table 4 and the note on consolidation on the following page. 9. Refer to table 5 and the note on consolidation on the following page. 10. Includes assets denominated in foreign currencies and any exchange-translation assets, which are revalued daily at market exchange rates. 9. Statement of Condition of Each Federal Reserve Bank, January 7, 2009 (continued) 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 1,023,123 38,475 357,980 41,318 46,562 81,116 128,726 83,637 29,371 17,627 30,062 55,491 112,758 Less: Notes held by F.R. Banks 175,167 5,852 46,479 5,178 7,846 12,286 24,972 13,406 3,722 2,937 3,692 21,329 27,469 Federal Reserve notes, net 847,956 32,623 311,501 36,141 38,716 68,831 103,754 70,231 25,648 14,690 26,370 34,162 85,289 Reverse repurchase agreements (11) 88,913 3,729 31,635 3,882 3,372 8,063 8,847 7,847 3,073 1,679 3,265 3,688 9,835 Deposits 1,133,690 34,886 789,414 10,857 42,633 81,556 24,368 38,314 7,329 2,004 8,008 10,303 84,017 Depository institutions 846,140 34,879 502,055 10,852 42,630 81,397 24,365 38,312 7,323 2,003 8,007 10,303 84,014 U.S. Treasury, general account 62,686 0 62,686 0 0 0 0 0 0 0 0 0 0 U.S. Treasury, supplementary financing account 224,416 0 224,416 0 0 0 0 0 0 0 0 0 0 Foreign official 194 2 164 4 3 11 3 2 0 1 0 1 3 Other 254 5 93 2 0 149 0 0 5 0 1 0 0 Deferred availability cash items 3,719 89 0 695 708 268 198 407 54 255 154 294 595 Other liabilities and accrued dividends (12,13) 24,445 143 22,135 156 166 391 361 283 146 97 109 171 286 Total liabilities 2,098,723 71,471 1,154,684 51,731 85,596 159,110 137,527 117,083 36,251 18,725 37,906 48,618 180,022 Capital Capital paid in 21,077 845 5,607 2,315 1,552 5,981 1,612 703 210 324 208 271 1,449 Surplus 20,806 822 5,612 2,299 1,487 5,853 1,600 703 210 322 208 271 1,419 Other capital 447 26 336 0 34 0 9 1 2 0 4 1 34 Total liabilities and capital 2,141,053 73,163 1,166,239 56,344 88,668 170,943 140,748 118,491 36,673 19,371 38,327 49,162 182,923 Note: Components may not sum to totals because of rounding. 11. Cash value of agreements, which are collateralized by U.S. Treasury securities. 12. Includes any exchange-translation liabilities, which are revalued daily at market exchange rates. 13. Includes the liabilities of Commercial Paper Funding Facility LLC, the LLCs funded through the Money Market Investor Funding Facility, Maiden Lane LLC, Maiden Lane II LLC, and Maiden Lane III LLC to entities other than the Federal Reserve Bank of New York, including liabilities that have recourse only to the portfolio holdings of these LLCs. Refer to table 3 through table 7 and the note on consolidation below. Note on consolidation: The Federal Reserve Bank of New York (FRBNY) has extended loans to several limited liability companies under the authority of section 13(3) of the Federal Reserve Act. On June 26, 2008, a loan was extended to Maiden Lane LLC, which was formed to acquire certain assets of Bear Stearns. On October 27, 2008, the FRBNY began extending loans to Commercial Paper Funding Facility LLC, which was formed to purchase three-month U.S. dollar-denominated commercial paper from eligible issuers. On November 24, 2008, the Federal Reserve Board authorized the FRBNY to extend credit to a series of LLCs funded through the Money Market Investor Funding Facility, which were established to purchase short-term U.S. dollar-denominated certificates of deposit, bank notes, and commercial paper from eligible issuers. On November 25, 2008, a loan was extended to Maiden Lane III LLC, which was formed to purchase multi-sector collateralized debt obligations on which the Financial Products group of the American International Group, Inc. has written credit default swap contracts. On December 12, 2008, a loan was extended to Maiden Lane II LLC, which was formed to purchase residential mortgage-backed securities from the U.S. securities lending reinvestment portfolio of subsidiaries of American International Group, Inc. The FRBNY is the sole beneficiary of Commercial Paper Funding Facility LLC and the primary beneficiary of the other LLCs cited above. Consistent with generally accepted accounting principles, the assets and liabilities of these LLCs have been consolidated with the assets and liabilities of the FRBNY in the preparation of the statements of condition shown on this release. As a consequence of the consolidation, the extensions of credit from the FRBNY to the LLCs are eliminated, the net assets of the LLCs appear as assets on the previous page (and in table 1 and table 8), and the liabilities of the LLCs to entities other than the FRBNY, including those with recourse only to the portfolio holdings of the LLCs, are included in other liabilities in this table (and table 1 and table 8). 10. Collateral Held against Federal Reserve Notes: Federal Reserve Agents' Accounts Millions of dollars Federal Reserve notes and collateral Wednesday Jan 7, 2009 Federal Reserve notes outstanding 1,023,123 Less: Notes held by F.R. Banks not subject to collateralization 175,167 Federal Reserve notes to be collateralized 847,956 Collateral held against Federal Reserve notes 847,956 Gold certificate account 11,037 Special drawing rights certificate account 2,200 U.S. Treasury and agency securities pledged (1) 475,259 Other assets pledged 359,460 Memo: Total U.S. Treasury and agency securities (1) 554,976 Less: Face value of securities under reverse repurchase agreements 79,717 U.S. Treasury and agency securities eligible to be pledged 475,259 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.