Reserve Bank credit, related items, and

reserve balances of depository institutions

at Federal Reserve Banks

Reserve Bank credit 882,978 - 5,440 + 32,967 882,395

Securities held outright 479,089 + 85 - 311,605 479,121

U.S. Treasury1 479,089 + 85 - 311,605 479,121

Bills2 21,740 0 - 255,279 21,740

Notes and bonds, nominal2 412,392 0 - 62,280 412,392

Notes and bonds, inflation-indexed2 39,171 0 + 4,712 39,171

Inflation compensation3 5,787 + 86 + 1,243 5,818

Federal agency2 0 0 0 0

Repurchase agreements4 104,786 - 6,357 + 85,929 103,750

Term auction credit 150,000 0 + 150,000 150,000

Other loans 16,510 + 2,209 + 16,271 17,830

Primary credit 16,381 + 2,465 + 16,378 17,675

Secondary credit 34 - 245 + 34 60

Seasonal credit 96 - 2 - 140 94

Primary dealer credit facility 0 - 9 0 0

Other credit extensions 0 0 0 0

Net portfolio holdings of Maiden Lane LLC5 29,025 + 70 + 29,025 29,059

Float -1,405 - 61 - 478 -1,790

Other Federal Reserve assets 104,973 - 1,386 + 63,826 104,425

Gold stock 11,041 0 0 11,041

Special drawing rights certificate account 2,200 0 0 2,200

Treasury currency outstanding6 38,903 + 14 + 367 38,903

Total factors supplying reserve funds 935,122 - 5,426 + 33,334 934,539

Currency in circulation6 830,025 - 92 + 17,557 831,505

Reverse repurchase agreements7 42,610 + 564 + 11,110 42,149

Foreign official and international accounts 42,610 + 564 + 11,110 42,149

Dealers 0 0 0 0

Treasury cash holdings 278 - 1 - 39 312

Deposits with F.R. Banks, other than reserve balances 13,115 + 830 + 1,205 14,404

U.S. Treasury, general account 5,419 + 708 + 367 6,720

Foreign official 101 0 + 6 101

Service-related 7,261 + 66 + 795 7,261

Required clearing balances 7,261 + 66 + 795 7,261

Adjustments to compensate for float 0 0 0 0

Other 335 + 57 + 37 322

Other liabilities and capital8 43,900 - 1,173 + 4,523 42,737

Total factors, other than reserve balances,

absorbing reserve funds 929,928 + 128 + 34,354 931,108

Reserve balances with Federal Reserve Banks 5,194 - 5,554 - 1,020 3,432

FEDERAL RESERVE statistical release

 July 24, 2008

H.4.1

Factors Affecting Reserve Balances of Depository Institutions and

Condition Statement of Federal Reserve Banks

1. Factors Affecting Reserve Balances of Depository Institutions

Millions of dollars

Averages of daily figures

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. Fair value. Refer to table 2 and the note on consolidation accompanying table 5.

6. Estimated.

7. Cash value of agreements, which are collateralized by U.S. Treasury securities.

8. Includes the liabilities of Maiden Lane LLC to entities other than the Federal Reserve Bank of New York, including liabilities that have

recourse only to the portfolio holdings of Maiden Lane LLC. Refer to table 2 and the note on consolidation accompanying table 5.

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

Change from week ended Wednesday

 Jul 23, 2008 Week ended

 Jul 23, 2008 Jul 16, 2008 Jul 25, 2007
Wednesday

 Jul 23, 2008

Holdings

 U.S. Treasury

securities2

Marketable securities held in custody for foreign

 official and international accounts1 2,353,450 + 5,477 + 350,461 2,360,830

U.S. Treasury 1,372,424 + 8,366 + 119,166 1,376,744

Federal agency 981,026 - 2,889 + 231,295 984,086

Securities lent to dealers 116,556 + 12,286 + 111,924 119,494

Overnight facility2 4,999 + 857 + 367 5,944

Term facility3 111,557 + 11,429 + 111,557 113,550

H.4.1

1A. Memorandum Items, July 23, 2008

Millions of dollars

Averages of daily figures

Week ended

 Jul 23, 2008

Change from week ended Wednesday

 Jul 23, 2008

 Jul 16, 2008 Jul 25, 2007

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 highly rated non-agency asset-backed and mortgage-backed

securities.

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

3. Maturity Distribution of Term Auction Credit, Other Loans, and Securities, July 23, 2008

Millions of dollars

Term auction

credit Weekly

changes

Other

loans1

Repurchase

agreements3

Reverse

repurchase

agreements3

Note: Components may not sum to totals because of rounding.

 . . . Not applicable.

1. Excludes the loan from the Federal Reserve Bank of New York to Maiden Lane LLC that was eliminated when preparing that Bank's statement

of condition consistent with consolidation under generally accepted accounting principles. The loan to Maiden Lane LLC is designed to be

repaid from the orderly liquidation of Maiden Lane LLC's portfolio holdings and does not have a fixed amortization schedule.

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. Cash value of agreements.

Remaining maturity

 75,000

 75,000

 ...

 ...

 ...

 ...

 150,000

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

 4,105

 13,725

 0

 ...

 ...

 ...

 17,830

 12,024

 36,437

 71,492

 172,656

 89,847

 96,665

 479,121

 - 1,191

 + 4,583

 - 3,386

 + 27

 + 18

 + 34

 + 85

 63,750

 40,000

 ...

 ...

 ...

 ...

 103,750

 42,149

 0

 ...

 ...

 ...

 ...

 42,149

2. Information on Principal Accounts of Maiden Lane LLC

Millions of dollars

Net portfolio holdings of Maiden Lane LLC1

Outstanding principal amount of loan extended by the Federal Reserve Bank of New York2

Accrued interest payable to the Federal Reserve Bank of New York2

Outstanding principal amount and accrued interest on loan payable to JPMorgan Chase & Co.3

 29,059

 28,820

 50

 1,156

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 June 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 5.

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 4 and table 5.

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.

Memorandum item

Account name
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. Fair value. Refer to table 2 and the note on consolidation accompanying table 5.

6. Includes assets denominated in foreign currencies, which are revalued daily at market exchange rates.

7. Cash value of agreements, which are collateralized by U.S. Treasury securities.

8. Includes exchange-translation account reflecting the daily revaluation at market exchange rates of foreign exchange commitments.

9. Includes the liabilities of Maiden Lane LLC to entities other than the Federal Reserve Bank of New York, including liabilities that have recourse

only to the portfolio holdings of Maiden Lane LLC. Refer to the note on consolidation accompanying table 5.

Assets

Gold certificate account 11,037 0 0

Special drawing rights certificate account 2,200 0 0

Coin 1,334 + 23 + 287

Securities, repurchase agreements, term auction

credit, and other loans 750,700 - 11,277 - 59,010

Securities held outright 479,121 + 85 - 311,593

U.S. Treasury1 479,121 + 85 - 311,593

Bills2 21,740 0 - 255,279

Notes and bonds, nominal2 412,392 0 - 62,280

Notes and bonds, inflation-indexed2 39,171 0 + 4,712

Inflation compensation3 5,818 + 85 + 1,254

Federal agency2 0 0 0

Repurchase agreements4 103,750 - 13,000 + 85,000

Term auction credit 150,000 0 + 150,000

Other loans 17,830 + 1,638 + 17,584

Net portfolio holdings of Maiden Lane LLC5 29,059 + 40 + 29,059

Items in process of collection (627) 1,431 + 364 - 664

Bank premises 2,158 + 1 + 103

Other assets6 102,272 - 1,933 + 62,737

Total assets (627) 900,192 - 12,780 + 32,512

Liabilities

Federal Reserve notes, net of F.R. Bank holdings 794,244 + 823 + 17,761

Reverse repurchase agreements7 42,149 - 858 + 11,040

Deposits (0) 18,111 - 10,292 + 225

Depository institutions 10,968 - 12,961 - 1,590

U.S. Treasury, general account 6,720 + 2,684 + 1,789

Foreign official 101 - 1 + 3

Other (0) 322 - 14 + 22

Deferred availability cash items (627) 2,951 - 188 - 415

Other liabilities and accrued dividends8,9 2,521 - 1,669 - 3,230

Total liabilities (627) 859,976 - 12,183 + 25,381

Capital accounts

Capital paid in 19,904 + 20 + 3,733

Surplus 18,494 + 1 + 3,095

Other capital accounts 1,818 - 619 + 303

Total capital 40,216 - 598 + 7,131

H.4.1

4. Consolidated Statement of Condition of All Federal Reserve Banks

Millions of dollars

Change since

Wednesday

 Jul 25, 2007

Eliminations from

consolidation Wednesday

 Jul 23, 2008

Wednesday

 Jul 16, 2008

Assets, liabilities, and capital
    11, 9, 9,  8,  1,      1, + 2, 17,

 344 71 48 22,402 16,557 16,557 751 15,805 0 3,585 2,075 185 0 24 125 1,370 + 4,919 29,304

 913 212 160 55,149 42,287 42,287 1,919 40,368 0 9,157 2,825 880 0 254 207 5,090 +15,077 77,062

 1,221 166 160 61,618 47,672 47,672 2,163 45,509 0 10,323 3,245 379 0 180 227 8,102 +28,120 99,794

 891 147 169 66,524 43,446 43,446 1,971 41,475 0 9,408 13,577 93 0 144 204 24,748 - 9,210 83,617

 423 104 116 30,926 18,168 18,168 824 17,344 0 3,934 8,160 664 0 270 150 6,626 - 1,538 37,078

 424 115 35 25,948 20,096 20,096 912 19,184 0 4,352 1,500 0 0 56 119 5,521 + 4,256 36,474

AssetsGold certificate accountSpecial drawing rights certificate acct.CoinSecurities, repurchase agreements, term

auction credit, and other loans

Securities held outright

U.S. Treasury1

Bills2Notes and bonds3

Federal agency2

Repurchase agreements4Term auction creditOther loans

Net portfolio holdings of

Maiden Lane LLC5

Items in process of collectionBank premisesOther assets6Interdistrict settlement account

Total assets

 11,037 2,200 1,334 750,700 479,121 479,121 21,740 457,381 0 103,750 150,000 17,830 29,059 2,059 2,158 102,272 0 900,819

 453 83 103 27,924 20,919 20,919 949 19,970 0 4,530 2,400 75 0 342 65 9,112 + 2,606 40,688

 3,935 874 58 313,288 170,468 170,468 7,735 162,733 0 36,914 93,606 12,300 29,059 0 212 28,028 -50,197 325,256

H.4.15. Statement of Condition of Each Federal Reserve Bank, July 23, 2008Millions of dollars

Total Boston New York Philadelphia Cleveland Richmond Atlanta Chicago St. Louis Minneap

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 s4. Cash value of agreements, which are collateralized by U.S. Treasury and federal agency securities.5. Fair value. Refer to the note on consolidation below.6. Includes assets denominated in foreign currencies, which are revalued daily at market exchange rates.Note on consolidation:On June 26, 2008, the Federal Reserve Bank of New York extended a loan under the authority of section 13(3) of the Federal Reserve Act to Maiden Lane Lacquire certain assets of Bear Stearns. The Federal Reserve Bank of New York is the primary beneficiary of Maiden Lane LLC. Consistent with generally acassets and liabilities of Maiden Lane LLC have been consolidated with the assets and liabilities of the Federal Reserve Bank of New York in the preparation on this release. As a consequence of the consolidation, the extension of credit from the Federal Reserve Bank of New York to Maiden Lane LLC is eliminateappear as an asset in this table (and table 1 and table 4), and the liabilities of Maiden Lane LLC to entities other than the Federal Reserve Bank of New Yorkthe portfolio holdings of Maiden Lane LLC, are included in other liabilities on the next page (and in table 1 and table 4).

Assets, liabilities, and capital
Total Boston New York Philadelphia Cleveland Richmond Atlanta Chicago St. Louis Minneap

LiabilitiesFederal Reserve notes outstanding

Less: Notes held by F.R. Banks

Federal Reserve notes, net

Reverse repurchase agreements1

Deposits

Depository institutionsU.S. Treasury, general accountForeign officialOther

Deferred availability cash itemsOther liabilities and accrued

dividends2,3

Total liabilities

CapitalCapital paid inSurplusOther capital

Total liabilities and capital

Note: Components may not sum to totals because of rounding.1. Cash value of agreements, which are collateralized by U.S. Treasury securities.2. Includes exchange-translation account reflecting the daily revaluation at market exchange rates of foreign exchange commitments.3. Includes the liabilities of Maiden Lane LLC to entities other than the Federal Reserve Bank of New York, including liabilities that have recourse only to the  Refer to the note on consolidation on the previous page.

 990,971 196,727 794,244 42,149 18,111 10,968 6,720 101 322 3,578 2,521 860,603 19,904 18,494 1,818 900,819

 36,959 4,915 32,043 1,768 537 533 0 2 1 170 141 34,660 764 1,050 0 36,474

 350,917 59,958 290,959 14,997 8,777 1,796 6,720 71 190 0 250 314,983 5,065 4,657 551 325,256

 40,534 7,211 33,323 1,840 421 417 0 4 0 492 154 36,230 2,335 1,814 309 40,688

 38,655 7,113 31,543 1,598 448 444 0 3 1 663 162 34,415 1,337 1,291 36 37,078

 80,333 13,101 67,232 3,822 1,637 1,513 0 11 113 241 382 73,314 5,178 4,998 127 83,617

 121,378 30,598 90,780 4,194 1,068 1,064 0 3 0 271 336 96,648 1,563 1,425 157 99,794

 82,366 13,415 68,951 3,720 1,184 1,181 0 2 2 343 276 74,474 1,281 815 492 77,062

 30,485 3,664 26,821 1,457 462 448 0 0 14 40 147 28,927 182 180 15 29,304

 17,7 2,8 14,8 7 4 4    2 1 16,4 3 3  17,1

H.4.15. Statement of Condition of Each Federal Reserve Bank, July 23, 2008 (continued)Millions of dollars

Assets, liabilities, and capital

Federal Reserve notes outstanding

Less: Notes held by F.R. Banks not subject to collateralization

Federal Reserve notes to be collateralized

Collateral held against Federal Reserve notes

Gold certificate accountSpecial drawing rights certificate accountU.S. Treasury and agency securities pledged1Other assets pledged

Memo:Total U.S. Treasury and agency securities1

Less: Face value of securities under reverse repurchase agreements

U.S. Treasury and agency securities eligible to be pledged

6. Collateral Held against Federal Reserve Notes: Federal Reserve Agents' AccountsMillions of dollars

Federal Reserve notes and collateral Wednesday

 Jul 23, 2008

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, andcash value of repurchase agreements.

 990,971 196,727 794,244 794,244 11,037 2,200 541,419 239,588 582,871 41,451 541,419