Federal Reserve Statistical Release, H.4.1, Factors Affecting Reserve Balances; title with eagle logo links to Statistical Release home page
Release Date:  November 28, 2008
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For Release at
4:30 P.M. Eastern time
  November 28, 2008

The Board's H.4.1 statistical release, "Factors Affecting Reserve Balances of Depository Institutions and
Condition Statement of Federal Reserve Banks," has been modified in a number of ways.  This week's release
reports credit extended to American International Group, Inc. (AIG) as a separate line in table 1.
Previously, this amount was included in other credit extensions.  This release also presents information on
a new lending facility and new limited liability companies.

On November 10, 2008, the Federal Reserve announced a modification of the terms of credit extended to AIG.
Related to this modification was the creation of two limited liability companies, Maiden Lane II LLC and
Maiden Lane III LLC.  On November 25, 2008, the Federal Reserve Bank of New York (FRBNY) began extending
credit under the authority of section 13(3) of the Federal Reserve Act to Maiden Lane III LLC, a limited
liability company formed to purchase multi-sector collateralized debt obligations on which the Financial
Products Group of AIG has written credit default swap contracts.  On November 24, 2008, the Money Market
Investor Funding Facility (MMIFF) was created to provide funding to a series of limited liability companies
to purchase short-term U.S. dollar-denominated certificates of deposit, bank notes, and outstanding
asset-backed commercial paper.

Consistent with generally accepted accounting principles, the assets and liabilities of all of these
limited liability companies will be consolidated with the assets and liabilities of the FRBNY in the
preparation of the statements of condition shown on the release, because the FRBNY is the primary
beneficiary of the limited liability companies.  As a result of this consolidation, the loans extended
from the FRBNY to the limited liability companies and the accrued interest on these loans are
eliminated.  The net portfolio holdings of these limited liability companies are reported in table 1, in
table 7, and in table 8.  

Information on Maiden Lane III LLC is presented separately in a new table 4, "Information on Principal
Accounts of Maiden Lane III LLC."  This table presents the fair value of the net portfolio holdings of the
Maiden Lane III LLC along with the book value of the outstanding principal of the loan extended by the
FRBNY, the book value of accrued interest payable to the FRBNY, and the book value of the outstanding
principal and accrued interest on the loan payable to AIG.  A similar table for Maiden Lane II will be
provided when credit is extended to that limited liability company.

Information on the limited liability companies funded through the MMIFF is presented separately in a new
table 6, "Information on Principal Accounts of LLCs Funded through the Money Market Investor Funding
Facility."  This table presents the book value of the net portfolio holdings of the limited liability
companies, as well as the face value of the money market instruments.  In addition, the table presents the
outstanding principal of the loans extended by the FRBNY and accrued interest payable to the FRBNY.
1


FEDERAL RESERVE statistical release
 

H.4.1
Factors Affecting Reserve Balances of Depository Institutions and
Condition Statement of Federal Reserve Banks
November 28, 2008
1. Factors Affecting Reserve Balances of Depository Institutions
Millions of dollars
Reserve Bank credit, related items, and
reserve balances of depository institutions at
Federal Reserve Banks
Averages of daily figures Wednesday
Nov 26, 2008
Week ended
Nov 26, 2008
Change from week ended
Nov 19, 2008 Nov 28, 2007
                                                              
Reserve Bank credit                                       2,093,892    -   85,002    +1,224,361     2,091,608 
  Securities held outright                                  488,676    -      408    -  291,007       488,628 
    U.S. Treasury (1)                                       476,415    -       16    -  303,268       476,407 
      Bills (2)                                              18,423             0    -  248,596        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)                              6,429    -       16    +    1,659         6,422 
    Federal agency (2)                                       12,261    -      393    +   12,261        12,221 
  Repurchase agreements (4)                                  80,000             0    +   30,750        80,000 
  Term auction credit                                       406,508    -    8,794    +  406,508       406,508 
  Other loans                                               283,180    -   13,638    +  283,125       259,048 
    Primary credit                                           93,628    +    2,076    +   93,621        91,725 
    Secondary credit                                            225    +      113    +      225           186 
    Seasonal credit                                               5    -        4    -       43             6 
    Primary dealer and other broker-dealer credit (5)       52,418   +    2,248   +   52,418       57,886 
    Asset-backed commercial paper money market                
      mutual fund liquidity facility                         57,318    -   12,480    +   57,318        53,309 
    Credit extended to American International                 
      Group, Inc. (6)                                        79,585    -    5,592    +   79,585        55,936 
    Other credit extensions                                       0             0             0             0 
  Net portfolio holdings of Commercial Paper                  
    Funding Facility LLC (7)                                282,197    +   16,506    +  282,197       294,094 
  Net portfolio holdings of LLCs funded through               
    the money market investor funding facility (7)                0             0             0             0 
  Net portfolio holdings of Maiden Lane LLC (7)              26,928    -       17    +   26,928        26,979 
  Net portfolio holdings of Maiden Lane III LLC (7)           6,010    +    6,010    +    6,010        21,148 
  Float                                                        -471    +      903    +      103        -1,514 
  Other Federal Reserve assets                              520,864    -   85,564    +  479,746       516,717 
Gold stock                                                   11,041             0             0        11,041 
Special drawing rights certificate account                    2,200             0             0         2,200 
Treasury currency outstanding (8)                            38,787    +       14    +       36        38,787 
                                                              
Total factors supplying reserve funds                     2,145,920    -   84,988    +1,224,397     2,143,636 
 

Note: Components may not sum to totals because of rounding. Footnotes appear on the following page.
 

 

H.4.1
1. Factors Affecting Reserve Balances of Depository Institutions, continued
Millions of dollars
Reserve Bank credit, related items, and
reserve balances of depository institutions at
Federal Reserve Banks
Averages of daily figures Wednesday
Nov 26, 2008
Week ended
Nov 26, 2008
Change from week ended
Nov 19, 2008 Nov 28, 2007
                                                              
Currency in circulation (8)                                 867,019    +    2,337    +   45,027       871,991 
Reverse repurchase agreements (9)                            97,325    -    3,098    +   62,179        99,761 
  Foreign official and international accounts                72,325    -    3,812    +   37,179        74,761 
  Dealers                                                    25,000    +      714    +   25,000        25,000 
Treasury cash holdings                                          242    -        8    -       25           241 
Deposits with F.R. Banks, other than reserve balances       554,303    -   31,337    +  542,234       511,018 
  U.S. Treasury, general account                             64,531    +    4,066    +   59,355        17,355 
  U.S. Treasury, supplementary financing account            479,054    -   29,902    +  479,054       479,054 
  Foreign official                                              190    -      204    +       93           187 
  Service-related                                             4,953    -    1,371    -    1,532         4,953 
    Required clearing balances                                4,953    -    1,352    -    1,532         4,953 
    Adjustments to compensate for float                           0    -       18             0             0 
  Other                                                       5,575    -    3,926    +    5,264         9,470 
Other liabilities and capital (10)                           49,366    +    3,323    +    6,118        54,368 
                                                              
Total factors, other than reserve balances,                                                       
   absorbing reserve funds                                1,568,254    -   28,783    +  655,532     1,537,380 
                                                              
Reserve balances with Federal Reserve Banks                 577,666    -   56,204    +  568,865       606,256 
                                                                
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 3 through table 6 and the note on consolidation accompanying table 8.
8. Estimated.
9. Cash value of agreements, which are collateralized by U.S. Treasury securities.
10. Includes the liabilities of Commercial Paper Funding Facility LLC, the LLCs funded through the Money
Market Investor Funding Facility, Maiden Lane 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 6 and the note on consolidation accompanying
table 8.
 

Sources: Federal Reserve Banks and the U.S. Department of the Treasury.
 

 

1A. Memorandum Items
Millions of dollars

Memorandum item
Averages of daily figures Wednesday
Nov 26, 2008
Week ended
Nov 26, 2008
Change from week ended
Nov 19, 2008 Nov 28, 2007
                                                              
Marketable securities held in custody for foreign             
      official and international accounts (1)             2,498,083    -    3,045    +  466,608     2,492,057 
  U.S. Treasury                                           1,617,765    +    7,856    +  392,472     1,620,296 
  Federal agency                                            880,318    -   10,900    +   74,137       871,761 
Securities lent to dealers                                  196,319    -    9,177    +  188,313       201,420 
  Overnight facility (2)                                      8,871    -    5,369    +      865         8,227 
  Term facility (3)                                         187,447    -    3,809    +  187,447       193,193 
 

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, November 26, 2008
Millions of dollars
Remaining maturity
Within 15
days
16 days to
90 days
91 days to
1 year
Over 1 year
to 5 years
Over 5 years
to 10 years
Over 10
years
All
 
Term auction credit                    25,000      381,508         ---            ---          ---         ---       406,508
Other loans (1)                       175,834       43,211        4,567        35,436          ---         ---       259,048
U.S. Treasury securities (2)                    
  Holdings                             16,823       22,989       66,692       170,923       96,952     102,028       476,407
  Weekly changes                   -    3,520   +    3,518            0    -        5   -        4  -        7    -       18
Federal agency securities                       
  Holdings                              1,409        8,218        2,594             0            0           0        12,221
  Weekly changes                   +      480   -      120   -      640             0            0           0    -      280
Commercial paper held by                        
  Commercial Paper Funding                      
  Facility LLC (3)                          0      295,108            0           ---          ---         ---       295,108
Money market instruments held by                
  LLCs funded through the money                 
  market investor funding                       
  facility (4)                              0            0            0           ---          ---         ---             0
Repurchase agreements (5)              40,000       40,000          ---           ---          ---         ---        80,000
                                                
Reverse repurchase agreements (5)      99,761            0          ---           ---          ---         ---        99,761
  
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, 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.
 

 

H.4.1
3. Information on Principal Accounts of Maiden Lane LLC
Millions of dollars
Account name Wednesday
Nov 26, 2008
                                                                                                
Net portfolio holdings of Maiden Lane LLC (1)                                                       26,979    
                                                                                                
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)                                   243    
Outstanding principal amount and accrued interest on loan payable to JPMorgan Chase & Co. (3)        1,182    
 
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.
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 8.
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 7 and table 8.
 

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 III LLC
Millions of dollars
Account name Wednesday
Nov 26, 2008
                                                                                                
Net portfolio holdings of Maiden Lane III LLC (1)                                                    21,148   
                                                                                                
Outstanding principal amount of loan extended by the Federal Reserve Bank of New York (2)            15,134   
Accrued interest payable to the Federal Reserve Bank of New York (2)                                      3   
Outstanding principal amount and accrued interest on loan payable to American International     
  Group, Inc. (3)                                                                                     5,002   
 

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 October 31, 2008.
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 8.
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 7 and table 8.
 

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 the 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.
 

 

5. Information on Principal Accounts of Commercial Paper Funding Facility LLC
Millions of dollars
Account name Wednesday
Nov 26, 2008
                                                                                                
Commercial paper holdings, net (1)                                                                  292,834   
Other investments, net                                                                                1,260   
Net portfolio holdings of Commercial Paper Funding Facility LLC                                     294,094   
                                                                                                
Memorandum: Commercial paper holdings, face value                                                   295,108   
                                                                                                
Outstanding principal amount of loan extended by the Federal Reserve Bank of New York (2)           293,349   
Accrued interest payable to the Federal Reserve Bank of New York (2)                                    253   
 

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 8.
 

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.
 

 

H.4.1
6. Information on Principal Accounts of LLCs Funded through the Money Market Investor Funding Facility
Millions of dollars
Account name Wednesday
Nov 26, 2008
                                                                                                
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 8.
 

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.
 

 

H.4.1
7. Consolidated Statement of Condition of All Federal Reserve Banks
Millions of dollars
Assets, liabilities, and capital Eliminations
from
consolidation
  Change since
Wednesday
Nov 26, 2008
Wednesday
Nov 19, 2008
Wednesday
Nov 28, 2007
Assets                                                   
Gold certificate account                                         11,037                0                   0
Special drawing rights certificate account                        2,200                0                   0
Coin                                                              1,642       -        6          +      477
Securities, repurchase agreements, term auction          
      credit, and other loans                                 1,234,185       -   38,744          +  408,438
  Securities held outright                                      488,628       -      298          -  291,065
    U.S. Treasury (1)                                           476,407       -       18          -  303,286
      Bills (2)                                                  18,423                0          -  248,596
      Notes and bonds, nominal (2)                              410,491                0          -   60,493
      Notes and bonds, inflation-indexed (2)                     41,071                0          +    4,160
      Inflation compensation (3)                                  6,422       -       18          +    1,643
    Federal agency (2)                                           12,221       -      280          +   12,221
  Repurchase agreements (4)                                      80,000                0          +   34,000
  Term auction credit                                           406,508       -    8,794          +  406,508
  Other loans                                                   259,048       -   29,654          +  258,994
Net portfolio holdings of Commercial Paper               
  Funding Facility LLC (5)                                      294,094       +   23,215          +  294,094
Net portfolio holdings of LLCs funded through            
  the money market investor funding facility (5)                      0                0                   0
Net portfolio holdings of Maiden Lane LLC (5)                    26,979       +       60          +   26,979
Net portfolio holdings of Maiden Lane III LLC (5)                21,148       +   21,148          +   21,148
Items in process of collection                       (498)        1,096       -       19          -      467
Bank premises                                                     2,180       +        2          +       66
Other assets (6)                                                514,523       -   85,257          +  475,499
                                                         
      Total assets                                   (498)    2,109,083       -   79,603          +1,226,235
                                                         
Liabilities                                              
Federal Reserve notes, net of F.R. Bank holdings                835,083       +    6,466          +   51,408
Reverse repurchase agreements (7)                                99,761       -    3,148          +   65,489
Deposits                                               (0)    1,117,260       -   91,971          +1,097,684
  Depository institutions                                       611,195       -   19,297          +  596,718
  U.S. Treasury, general account                                 17,355       -   51,102          +   12,644
  U.S. Treasury, supplementary financing account                479,054       -   29,902          +  479,054
  Foreign official                                                  187       +        4          +       90
  Other                                                (0)        9,470       +    8,327          +    9,179
Deferred availability cash items                     (498)        2,611       -      131          -      267
Other liabilities and accrued dividends (8,9)                    11,482       +    7,288          +    5,578
                                                         
      Total liabilities                              (498)    2,066,197       -   81,497          +1,219,892
                                                         
Capital accounts                                         
Capital paid in                                                  20,871       +      498          +    2,593
Surplus                                                          17,170       +        4          +    1,713
Other capital accounts                                            4,844       +    1,391          +    2,035
                                                         
      Total capital                                              42,886       +    1,894          +    6,343
 

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 3 through table 6 and the note on consolidation accompanying table 8.
6. Includes assets denominated in foreign currencies and any exchange-translation assets, which are
revalued daily at market exchange rates.
7. Cash value of agreements, which are collateralized by U.S. Treasury securities.
8. Includes any exchange-translation liabilities, which are revalued daily at market exchange rates.
9. Includes the liabilities of Commercial Paper Funding Facility LLC, the LLCs funded through the Money Market
Investor Funding Facility, Maiden Lane 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 6 and the note on consolidation accompanying table 8.
 

 

H.4.1
8. Statement of Condition of Each Federal Reserve Bank, November 26, 2008
Millions of dollars
Assets, liabilities, and capital Total Boston New York Philadelphia Cleveland Richmond Atlanta Chicago St. Louis Minneapolis Kansas
City
Dallas San
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                                           1,642          57          76         126         132         227         208         192          45          54         111         178         236 
Securities, repurchase agreements, term                            
      auction credit, and other loans      1,234,185      95,269     560,641      53,904      34,962     151,331      75,348      56,217      23,797      16,169      28,156      29,185     109,206 
  Securities held outright                   488,628      20,495     173,851      21,334      18,529      44,308      48,618      43,126      16,885       9,225      17,941      20,269      54,048 
    U.S. Treasury (1)                        476,407      19,982     169,503      20,801      18,065      43,200      47,402      42,047      16,463       8,994      17,493      19,762      52,696 
      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)                    457,985      19,210     162,948      19,996      17,367      41,529      45,569      40,421      15,826       8,646      16,816      18,998      50,658 
    Federal agency (2)                        12,221         513       4,348         534         463       1,108       1,216       1,079         422         231         449         507       1,352 
  Repurchase agreements (4)                   80,000       3,356      28,464       3,493       3,034       7,254       7,960       7,061       2,765       1,510       2,937       3,318       8,849 
  Term auction credit                        406,508      18,050     164,794      28,800      13,393      99,297      18,285       4,640       3,633       5,372       1,285       4,608      44,352 
  Other loans                                259,048      53,368     193,532         277           7         472         485       1,390         514          63       5,992         989       1,957 
Net portfolio holdings of Commercial                               
  Paper Funding Facility LLC (5)             294,094           0     294,094           0           0           0           0           0           0           0           0           0           0 
Net portfolio holdings of LLCs funded                              
  through the money market investor                                
  funding facility (5)                             0           0           0           0           0           0           0           0           0           0           0           0           0 
Net portfolio holdings of Maiden Lane                              
  LLC (5)                                     26,979           0      26,979           0           0           0           0           0           0           0           0           0           0 
Net portfolio holdings of Maiden                                   
  Lane III LLC (5)                            21,148           0      21,148           0           0           0           0           0           0           0           0           0           0 
Items in process of collection                 1,594          38           0         223         199          55         561          82          19          73         -47         114         276 
Bank premises                                  2,180         122         213          64         150         222         225         207         131         111         274         251         210 
Other assets (6)                             514,523      29,197     130,541      49,882      35,543     136,887      39,812      23,276       5,314       9,878       5,739      10,416      38,038 
Interdistrict settlement account                   0   -  49,337   + 157,079   -  50,492   +      41   - 104,455   +   9,977   +  22,111   +   2,439   -   7,628   +   7,892   +   4,836   +   7,536 
                                                                   
      Total assets                         2,109,580      75,884   1,195,578      54,244      71,554     185,305     127,517     103,211      32,159      18,887      42,540      45,714     156,985 
 

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 3 through table 6 and the note on consolidation on the following page.
6. Includes assets denominated in foreign currencies and any exchange-translation assets, which are revalued daily at market exchange rates.
7. Cash value of agreements, which are collateralized by U.S. Treasury securities.
8. Includes any exchange-translation liabilities, which are revalued daily at market exchange rates.
9. Includes the liabilities of Commercial Paper Funding Facility LLC, the LLCs funded through the Money Market Investor Funding Facility, Maiden Lane 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 6 and
the note on consolidation on the following page.
 

 

H.4.1
8. Statement of Condition of Each Federal Reserve Bank, November 26, 2008 (continued)
Millions of dollars
Assets, liabilities, and capital Total Boston New York Philadelphia Cleveland Richmond Atlanta Chicago St. Louis Minneapolis Kansas
City
Dallas San
Francisco
Liabilities                                                         
Federal Reserve notes outstanding           1,010,762      38,039     352,748      41,910      47,086      81,692     120,854      83,855      29,542      17,426      30,257      54,487     112,866 
  Less: Notes held by F.R. Banks              175,679       5,904      47,342       5,601       7,602      11,312      25,912      13,328       3,506       2,800       3,740      22,116      26,515 
    Federal Reserve notes, net                835,083      32,135     305,407      36,309      39,484      70,380      94,942      70,527      26,036      14,626      26,517      32,370      86,350 
Reverse repurchase agreements (7)              99,761       4,184      35,494       4,356       3,783       9,046       9,926       8,805       3,447       1,883       3,663       4,138      11,035 
Deposits                                    1,117,260      37,404     834,542       8,079      24,461      93,457      18,721      21,702       2,059       1,347      11,642       8,080      55,766 
  Depository institutions                     611,195      37,376     328,640       8,072      24,457      93,354      18,717      21,700       2,051       1,346      11,640       8,079      55,763 
  U.S. Treasury, general account               17,355           0      17,355           0           0           0           0           0           0           0           0           0           0 
  U.S. Treasury, supplementary                                      
    financing account                         479,054           0     479,054           0           0           0           0           0           0           0           0           0           0 
  Foreign official                                187           2         157           4           3          11           3           2           0           1           0           1           3 
  Other                                         9,470          26       9,337           4           1          92           1           0           8           0           1           0           0 
Deferred availability cash items                3,108          83           0         554         484         254         230         289          29         222         153         281         530 
Other liabilities and accrued                                                 
  dividends (8,9)                              11,482         174       8,673         216         213         582         394         308         152         110         133         184         344 
                                                                    
      Total liabilities                     2,066,694      73,979   1,184,116      49,514      68,424     173,719     124,213     101,631      31,724      18,189      42,107      45,053     154,024 
                                                                    
Capital                                                             
Capital paid in                                20,871         784       5,602       2,327       1,552       5,836       1,610         703         209         324         207         270       1,447 
Surplus                                        17,170       1,050       3,332       1,815       1,291       4,999       1,426         816         180         354         193         364       1,351 
Other capital                                   4,844          71       2,527         589         287         750         267          61          47          19          34          27         163 
                                                                    
      Total liabilities and capital         2,109,580      75,884   1,195,578      54,244      71,554     185,305     127,517     103,211      32,159      18,887      42,540      45,714     156,985 
                              
Note: Components may not sum to totals because of rounding. Footnotes appear on the previous page.
 

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.
 

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 7),
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 7).
 

 

H.4.1
9. Collateral Held against Federal Reserve Notes: Federal Reserve Agents' Accounts
Millions of dollars
Federal Reserve notes and collateral Wednesday
Nov 26, 2008
                                                                                            
Federal Reserve notes outstanding                                                              1,010,762 
  Less: Notes held by F.R. Banks not subject to collateralization                                175,679 
    Federal Reserve notes to be collateralized                                                   835,083 
Collateral held against Federal Reserve notes                                                    835,083 
  Gold certificate account                                                                        11,037 
  Special drawing rights certificate account                                                       2,200 
  U.S. Treasury and agency securities pledged (1)                                                477,052 
  Other assets pledged                                                                           344,794 
                                                                                            
Memo:                                                                                       
Total U.S. Treasury and agency securities (1)                                                    568,628 
  Less: Face value of securities under reverse repurchase agreements                              91,576 
    U.S. Treasury and agency securities eligible to be pledged                                   477,052 
   
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.

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