Federal Reserve Statistical Release, H.4.1, Factors Affecting Reserve Balances; title with eagle logo links to Statistical Release home page
Release Date:  December 18, 2008
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For Release at
4:30 P.M. Eastern time
  December 18, 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 to include information related
to Maiden Lane II LLC, a limited liability company formed to purchase residential mortgage-backed
securities (RMBS) from the U.S. securities lending reinvestment portfolio of subsidiaries of American
International Group, Inc. (AIG).  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.

Consistent with generally accepted accounting principles, the assets and liabilities of Maiden Lane
II LLC have been 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 Maiden
Lane II LLC.  As a result of this consolidation, both the loan extended from the FRBNY to Maiden Lane
II LLC and the accrued interest on this loan were eliminated.  The net portfolio holdings of these
limited liability companies are reported in table 1, in table 8, and in table 9.  

Information on Maiden Lane II LLC is presented separately in a new table 4, "Information on Principal
Accounts of Maiden Lane II LLC."  This table presents the fair value of the net portfolio holdings of
the Maiden Lane II 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 deferred
payment and accrued interest payable to subsidiaries of AIG.  The deferred payment represents the
portion of the proceeds of the net portfolio holdings due to AIG subsidiaries in accordance with the
asset purchase agreement.

Publication Note

The H.4.1 statistical release for the week ended December 24, 2008, will be published on Monday,
December 29, 2008, because the federal government is closed on both Thursday, December 25 and Friday,
December 26.



1


FEDERAL RESERVE statistical release
 

H.4.1
Factors Affecting Reserve Balances of Depository Institutions and
Condition Statement of Federal Reserve Banks
December 18, 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
Dec 17, 2008
Week ended
Dec 17, 2008
Change from week ended
Dec 10, 2008 Dec 19, 2007
                                                              
Reserve Bank credit                                       2,253,739    +   12,269    +1,382,847     2,294,626 
  Securities held outright                                  492,765    +    3,373    -  276,983       493,759 
    U.S. Treasury (1)                                       476,178    -      108    -  293,570       476,138 
      Bills (2)                                              18,423             0    -  238,596        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)                              6,192    -      108    +    1,358         6,152 
    Federal agency (2)                                       16,587    +    3,481    +   16,587        17,621 
  Repurchase agreements (4)                                  80,000             0    +   24,250        80,000 
  Term auction credit                                       447,959             0    +  447,959       447,959 
  Other loans                                               212,525    -   28,065    +  207,906       206,544 
    Primary credit                                           88,407    -    1,754    +   83,821        90,237 
    Secondary credit                                              3    -       75    +        3             0 
    Seasonal credit                                               2             0    -       30             0 
    Primary dealer and other broker-dealer credit (5)       50,493   -    2,309   +   50,493       47,336 
    Asset-backed commercial paper money market                
      mutual fund liquidity facility                         29,274    -   11,552    +   29,274        27,421 
    Credit extended to American International                 
      Group, Inc. (6)                                        44,347    -   12,376    +   44,347        41,550 
    Other credit extensions                                       0             0             0             0 
  Net portfolio holdings of Commercial Paper                  
    Funding Facility LLC (7)                                315,267    +    6,749    +  315,267       318,843 
  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)              26,892    -      162    +   26,892        26,910 
  Net portfolio holdings of Maiden Lane II LLC (10)          17,519    +   17,519    +   17,519        20,031 
  Net portfolio holdings of Maiden Lane III LLC (11)         19,608    -    1,349    +   19,608        19,656 
  Float                                                      -1,029    +        1    -      660        -1,506 
  Other Federal Reserve assets                              642,233    +   14,203    +  601,088       682,431 
Gold stock                                                   11,041             0             0        11,041 
Special drawing rights certificate account                    2,200             0             0         2,200 
Treasury currency outstanding (12)                           38,829    +       14    +      106        38,829 
                                                              
Total factors supplying reserve funds                     2,305,808    +   12,282    +1,382,952     2,346,696 
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
Dec 17, 2008
Week ended
Dec 17, 2008
Change from week ended
Dec 10, 2008 Dec 19, 2007
                                                              
Currency in circulation (12)                                875,301    +    3,344    +   55,800       877,664 
Reverse repurchase agreements (13)                           93,200    +    1,246    +   56,111        71,928 
  Foreign official and international accounts                71,771    +    4,817    +   34,682        71,928 
  Dealers                                                    21,429    -    3,571    +   21,429             0 
Treasury cash holdings                                          227    -       14    -       20           233 
Deposits with F.R. Banks, other than reserve balances       454,749    -   38,778    +  440,275       489,754 
  U.S. Treasury, general account                             79,632    +   30,103    +   72,132       120,443 
  U.S. Treasury, supplementary financing account            364,177    -   39,946    +  364,177       364,177 
  Foreign official                                              238    +       50    +      134           190 
  Service-related                                             4,619    +       26    -    1,978         4,619 
    Required clearing balances                                4,592             0    -    1,948         4,592 
    Adjustments to compensate for float                          27    +       26    -       30            27 
  Other                                                       6,083    -   29,012    +    5,811           325 
Other liabilities and capital (14)                           82,074    +   23,867    +   39,265       109,938 
                                                              
Total factors, other than reserve balances,                                                       
   absorbing reserve funds                                1,505,551    -   10,334    +  591,432     1,549,517 
                                                              
Reserve balances with Federal Reserve Banks                 800,257    +   22,616    +  791,519       797,179 
                                                                
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

Memorandum item
Averages of daily figures Wednesday
Dec 17, 2008
Week ended
Dec 17, 2008
Change from week ended
Dec 10, 2008 Dec 19, 2007
                                                              
Marketable securities held in custody for foreign             
      official and international accounts (1)             2,498,205    +    4,427    +  450,310     2,502,619 
  U.S. Treasury                                           1,656,563    +   21,617    +  431,930     1,669,312 
  Federal agency                                            841,642    -   17,191    +   18,380       833,307 
Securities lent to dealers                                  187,146    -    2,820    +  176,394       186,494 
  Overnight facility (2)                                      5,572    +      752    -    5,180         4,148 
  Term facility (3,4)                                       181,575    -    3,571    +  181,575       182,346 
 

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.
4. On December 17, 2008, option contracts on draws on the Term Securities Lending Facility totaling
$ 49,999 million were outstanding. The exercise date for the options is December 22, 2008, and the
draws have a term loan of December 23, 2008 through January 5, 2009.
 

 

2. Maturity Distribution of Term Auction Credit, Other Loans, and Securities, December 17, 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                   104,458      343,501         ---            ---          ---         ---       447,959
Other loans (1)                       123,256       41,585          154        41,550          ---         ---       206,544
U.S. Treasury securities (2)                    
  Holdings                             14,536       25,753       64,478       172,076       97,373     101,921       476,138
  Weekly changes                   +    4,858   -    5,067   -      722    +      409   +      457  -       43    -      108
Federal agency securities                       
  Holdings                              4,944        3,060        1,647         5,737        2,233           0        17,621
  Weekly changes                   -       21   -      293   -      877    +      767   +    2,233           0    +    1,809
Commercial paper held by                        
  Commercial Paper Funding                      
  Facility LLC (3)                          0      319,422            0           ---          ---         ---       319,422
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)      71,928            0          ---           ---          ---         ---        71,928
  
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.
 

 

H.4.1
3. Information on Principal Accounts of Maiden Lane LLC
Millions of dollars
Account name Wednesday
Dec 17, 2008
                                                                                                
Net portfolio holdings of Maiden Lane LLC (1)                                                       26,910    
                                                                                                
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)                                   262    
Outstanding principal amount and accrued interest on loan payable to JPMorgan Chase & Co. (3)        1,185    
 
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 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
Account name Wednesday
Dec 17, 2008
                                                                                                
Net portfolio holdings of Maiden Lane II LLC (1)                                                     20,031   
                                                                                                
Outstanding principal amount of loan extended by the Federal Reserve Bank of New York (2)            19,494   
Accrued interest payable to the Federal Reserve Bank of New York (2)                                      8   
Deferred payment and accrued interest payable to subsidiaries of American International         
  Group, Inc. (3)                                                                                     1,001   
 

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.
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 AIG subsidiaries in accordance with the 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
Account name Wednesday
Dec 17, 2008
                                                                                                
Net portfolio holdings of Maiden Lane III LLC (1)                                                    19,656   
                                                                                                
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)                                     23   
Outstanding principal amount and accrued interest on loan payable to American International     
  Group, Inc. (3)                                                                                     5,014   
 

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.
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
Account name Wednesday
Dec 17, 2008
                                                                                                
Commercial paper holdings, net (1)                                                                  317,548   
Other investments, net                                                                                1,295   
Net portfolio holdings of Commercial Paper Funding Facility LLC                                     318,843   
                                                                                                
Memorandum: Commercial paper holdings, face value                                                   319,422   
                                                                                                
Outstanding principal amount of loan extended by the Federal Reserve Bank of New York (2)           317,522   
Accrued interest payable to the Federal Reserve Bank of New York (2)                                    470   
 

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.
 

 

H.4.1
7. Information on Principal Accounts of LLCs Funded through the Money Market Investor Funding Facility
Millions of dollars
Account name Wednesday
Dec 17, 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 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.
 

 

H.4.1
8. Consolidated Statement of Condition of All Federal Reserve Banks
Millions of dollars
Assets, liabilities, and capital Eliminations
from
consolidation
  Change since
Wednesday
Dec 17, 2008
Wednesday
Dec 10, 2008
Wednesday
Dec 19, 2007
Assets                                                   
Gold certificate account                                         11,037                0                   0
Special drawing rights certificate account                        2,200                0                   0
Coin                                                              1,677       +       16          +      479
Securities, repurchase agreements, term auction          
      credit, and other loans                                 1,228,262       -   24,870          +  395,991
  Securities held outright                                      493,759       +    1,701          -  275,996
    U.S. Treasury (1)                                           476,138       -      108          -  293,617
      Bills (2)                                                  18,423                0          -  238,596
      Notes and bonds, nominal (2)                              410,491                0          -   60,493
      Notes and bonds, inflation-indexed (2)                     41,071                0          +    4,160
      Inflation compensation (3)                                  6,152       -      109          +    1,310
    Federal agency (2)                                           17,621       +    1,809          +   17,621
  Repurchase agreements (4)                                      80,000                0          +   22,250
  Term auction credit                                           447,959                0          +  447,959
  Other loans                                                   206,544       -   26,571          +  201,779
Net portfolio holdings of Commercial Paper               
  Funding Facility LLC (5)                                      318,843       +    6,429          +  318,843
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)                    26,910       +       21          +   26,910
Net portfolio holdings of Maiden Lane II LLC (8)                 20,031       +   20,031          +   20,031
Net portfolio holdings of Maiden Lane III LLC (9)                19,656       +       56          +   19,656
Items in process of collection                       (387)          903       -      107          -    2,482
Bank premises                                                     2,185       +        9          +       61
Other assets (10)                                               680,190       +   47,970          +  641,129
                                                         
      Total assets                                   (387)    2,311,893       +   49,554          +1,420,617
                                                         
Liabilities                                              
Federal Reserve notes, net of F.R. Bank holdings                840,741       +    3,178          +   54,956
Reverse repurchase agreements (11)                               71,928       -   20,164          +   35,498
Deposits                                               (0)    1,286,877       +   19,228          +1,264,275
  Depository institutions                                       801,742       +   23,900          +  784,081
  U.S. Treasury, general account                                120,443       +   78,797          +  115,857
  U.S. Treasury, supplementary financing account                364,177       -   39,946          +  364,177
  Foreign official                                                  190       +        2          +       94
  Other                                                (0)          325       -   43,525          +       65
Deferred availability cash items                     (387)        2,409       +       84          -    1,646
Other liabilities and accrued dividends (12,13)                  64,634       +   45,190          +   58,774
                                                         
      Total liabilities                              (387)    2,266,589       +   47,516          +1,411,856
                                                         
Capital accounts                                         
Capital paid in                                                  21,070       +       61          +    2,853
Surplus                                                          17,185       +        5          +    1,725
Other capital accounts                                            7,049       +    1,972          +    4,182
                                                         
      Total capital                                              45,304       +    2,037          +    8,761
 

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.
 

 

H.4.1
9. Statement of Condition of Each Federal Reserve Bank, December 17, 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                                           1,677          58          76         130         135         233         212         194          44          56         112         178         248 
Securities, repurchase agreements, term                            
      auction credit, and other loans      1,228,262      71,731     556,592      56,449      38,743     147,536      78,262      57,107      24,140      16,699      28,250      29,519     123,235 
  Securities held outright                   493,759      20,710     175,676      21,558      18,723      44,773      49,128      43,579      17,063       9,322      18,130      20,482      54,615 
    U.S. Treasury (1)                        476,138      19,971     169,407      20,789      18,055      43,175      47,375      42,024      16,454       8,989      17,483      19,751      52,666 
      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)                    457,715      19,198     162,852      19,984      17,356      41,505      45,542      40,398      15,817       8,641      16,806      18,986      50,628 
    Federal agency (2)                        17,621         739       6,269         769         668       1,598       1,753       1,555         609         333         647         731       1,949 
  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                        447,959      20,050     187,257      31,300      16,958      95,070      20,791       4,869       3,888       5,362       2,360       4,833      55,222 
  Other loans                                206,544      27,616     165,195          98          28         438         383       1,598         424         506       4,822         886       4,549 
Net portfolio holdings of Commercial                               
  Paper Funding Facility LLC (5)             318,843           0     318,843           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)                                     26,910           0      26,910           0           0           0           0           0           0           0           0           0           0 
Net portfolio holdings of Maiden                                   
  Lane II LLC (8)                             20,031           0      20,031           0           0           0           0           0           0           0           0           0           0 
Net portfolio holdings of Maiden                                   
  Lane III LLC (9)                            19,656           0      19,656           0           0           0           0           0           0           0           0           0           0 
Items in process of collection                 1,290          34           0         322         156          40         129         184           9          66          53         118         180 
Bank premises                                  2,185         124         210          64         150         223         225         207         130         111         274         258         210 
Other assets (10)                            680,190      38,554     172,261      66,021      47,101     181,540      52,588      30,674       6,970      13,066       7,513      13,696      50,206 
Interdistrict settlement account                   0   -  23,905   + 183,354   -  70,423   -   4,222   - 146,083   +   8,656   +  20,436   -     286   -  11,990   +   4,346   +   1,636   +  38,480 
                                                                   
      Total assets                         2,312,280      87,134   1,302,741      53,099      82,591     184,528     141,460     109,926      31,422      18,237      40,961      46,138   
 

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.
 

 

H.4.1
9. Statement of Condition of Each Federal Reserve Bank, December 17, 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           1,022,070      38,625     356,588      41,526      46,769      81,298     128,168      83,607      29,515      17,620      30,168      54,664     113,522 
  Less: Notes held by F.R. Banks              181,329       5,955      49,459       5,768       7,622      12,322      26,036      13,969       3,719       3,018       3,892      21,579      27,992 
    Federal Reserve notes, net                840,741      32,670     307,130      35,758      39,147      68,976     102,133      69,638      25,796      14,602      26,276      33,085      85,530 
Reverse repurchase agreements (11)             71,928       3,017      25,591       3,140       2,727       6,522       7,157       6,348       2,486       1,358       2,641       2,984       7,956 
Deposits                                    1,286,877      49,176     896,063       8,588      36,795      95,703      28,194      31,678       2,517       1,238      11,311       8,922     116,693 
  Depository institutions                     801,742      49,143     411,083       8,584      36,791      95,615      28,191      31,675       2,502       1,237      11,310       8,921     116,690 
  U.S. Treasury, general account              120,443           0     120,443           0           0           0           0           0           0           0           0           0           0 
  U.S. Treasury, supplementary                                      
    financing account                         364,177           0     364,177           0           0           0           0           0           0           0           0           0           0 
  Foreign official                                190           2         160           4           3          11           3           2           0           1           0           1           3 
  Other                                           325          31         200           0           1          77           0           0          14           0           1           0           0 
Deferred availability cash items                2,796          61           0         535         443         179         168         316          22         202         164         277         428 
Other liabilities and accrued                                                 
  dividends (12,13)                            64,634         178      61,801         224         218         585         393         311         152         111         129         182         350 
                                                                    
      Total liabilities                     2,266,976      85,101   1,290,586      48,246      79,331     171,965     138,044     108,291      30,973      17,511      40,521      45,450     210,958 
                                                                    
Capital                                                             
Capital paid in                                21,070         844       5,602       2,315       1,552       5,979       1,614         703         210         324         207         271       1,450 
Surplus                                        17,185       1,049       3,348       1,815       1,291       4,999       1,426         816         180         354         193         364       1,351 
Other capital                                   7,049         140       3,205         724         416       1,585         376         116          60          48          41          54         284 
                                                                    
      Total liabilities and capital         2,312,280      87,134   1,302,741      53,099      82,591     184,528     141,460     109,926      31,422      18,237      40,961      46,138     214,042 
                              
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).
 

 

H.4.1
10. Collateral Held against Federal Reserve Notes: Federal Reserve Agents' Accounts
Millions of dollars
Federal Reserve notes and collateral Wednesday
Dec 17, 2008
                                                                                            
Federal Reserve notes outstanding                                                              1,022,070 
  Less: Notes held by F.R. Banks not subject to collateralization                                181,329 
    Federal Reserve notes to be collateralized                                                   840,741 
Collateral held against Federal Reserve notes                                                    840,741 
  Gold certificate account                                                                        11,037 
  Special drawing rights certificate account                                                       2,200 
  U.S. Treasury and agency securities pledged (1)                                                509,638 
  Other assets pledged                                                                           317,866 
                                                                                            
Memo:                                                                                       
Total U.S. Treasury and agency securities (1)                                                    573,759 
  Less: Face value of securities under reverse repurchase agreements                              64,121 
    U.S. Treasury and agency securities eligible to be pledged                                   509,638 
   
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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