For Release at 

4:30 P.M. Eastern time 

 September 18, 2008 

On September 16, 2008, the Federal Reserve announced that it would extend credit to the American 

International Group (AIG) under the authority of section 13(3) of the Federal Reserve Act. This 

secured lending will assist AIG in meeting its obligations as they come due and facilitate a process 

under which AIG will sell certain of its businesses in an orderly manner, with the least possible 

disruption to the overall economy. The Board’s H.4.1 statistical release, “Factors Affecting Reserve 

Balances of Depository Institutions and Condition Statement of Federal Reserve Banks” will report 

this lending in “Other credit extensions” in table 1 and in “Other loans” in table 3, table 4, and table 

5. 

FEDERAL RESERVE statistical release 
Reserve Bank credit, related items, and

reserve balances of depository institutions

at Federal Reserve Banks

Reserve Bank credit 931,340 + 43,066 + 78,241 978,246

Securities held outright 479,818 + 56 - 299,818 479,839

U.S. Treasury1 479,818 + 56 - 299,818 479,839

Bills2 21,740 0 - 245,279 21,740

Notes and bonds, nominal2 411,731 0 - 60,411 411,731

Notes and bonds, inflation-indexed2 39,832 0 + 4,079 39,832

Inflation compensation3 6,515 + 56 + 1,792 6,536

Federal agency2 0 0 0 0

Repurchase agreements4 124,500 + 13,679 + 94,321 98,000

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

Other loans 47,969 + 28,078 + 45,548 121,294

Primary credit 21,598 + 1,802 + 19,419 33,401

Secondary credit 8 + 8 + 8 18

Seasonal credit 96 + 1 - 145 95

Primary dealer credit facility 20,268 + 20,268 + 20,268 59,780

Other credit extensions 6,000 + 6,000 + 6,000 28,000

Net portfolio holdings of Maiden Lane LLC5 29,333 + 40 + 29,333 29,367

Float -1,072 - 16 - 1,691 -1,707

Other Federal Reserve assets 100,791 + 1,228 + 60,547 101,453

Gold stock 11,041 0 0 11,041

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

Treasury currency outstanding6 38,760 + 14 + 143 38,760

Total factors supplying reserve funds 983,341 + 43,080 + 78,384 1,030,247

Currency in circulation6 832,386 - 2,162 + 22,493 833,129

Reverse repurchase agreements7 45,743 + 3,053 + 10,008 46,633

Foreign official and international accounts 45,743 + 3,053 + 10,008 46,633

Dealers 0 0 0 0

Treasury cash holdings 267 - 8 - 72 261

Deposits with F.R. Banks, other than reserve balances 14,366 + 2,115 + 1,935 24,303

U.S. Treasury, general account 4,941 + 218 - 475 5,512

Foreign official 168 + 7 + 63 102

Service-related 7,360 + 274 + 708 7,360

Required clearing balances 7,360 + 274 + 708 7,360

Adjustments to compensate for float 0 0 0 0

Other 1,897 + 1,616 + 1,639 11,330

Other liabilities and capital8 43,583 + 1,054 + 2,686 44,184

Total factors, other than reserve balances,

absorbing reserve funds 936,345 + 4,053 + 37,051 948,511

Reserve balances with Federal Reserve Banks 46,996 + 39,027 + 41,333 81,737

FEDERAL RESERVE statistical release

 September 18, 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

 Sep 17, 2008 Week ended

 Sep 17, 2008 Sep 10, 2008 Sep 19, 2007
Wednesday

 Sep 17, 2008

Holdings

 U.S. Treasury

securities2

Marketable securities held in custody for foreign

 official and international accounts1 2,408,855 + 13,508 + 421,356 2,412,943

U.S. Treasury 1,449,613 + 9,951 + 238,616 1,451,833

Federal agency 959,242 + 3,557 + 182,740 961,111

Securities lent to dealers 125,674 + 7,611 + 123,497 127,325

Overnight facility2 8,404 + 6,239 + 6,227 9,826

Term facility3,4 117,270 + 1,371 + 117,270 117,499

H.4.1

1A. Memorandum Items, September 17, 2008

Millions of dollars

Averages of daily figures

Week ended

 Sep 17, 2008

Change from week ended Wednesday

 Sep 17, 2008

 Sep 10, 2008 Sep 19, 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 other highly rated debt securities.

4. On September 17, 2008, option contracts on draws on the Term Securities Lending Facility totaling $ 49,998 million were outstanding. The

exercise date for the options is September 24, 2008, and the draws have a term of September 25, 2008 through October 2, 2008.

3. Maturity Distribution of Term Auction Credit, Other Loans, and Securities, September 17, 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

 101,237

 20,057

 0

 ...

 ...

 ...

 121,294

 16,358

 30,001

 68,101

 170,676

 93,341

 101,361

 479,839

 + 1,403

 - 1,548

 - 1,171

 - 131

 + 1,478

 + 24

 + 57

 58,000

 40,000

 ...

 ...

 ...

 ...

 98,000

 46,633

 0

 ...

 ...

 ...

 ...

 46,633

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

 29,367

 28,820

 149

 1,168

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 1,468 + 23 + 378

Securities, repurchase agreements, term auction

credit, and other loans 849,133 + 69,044 + 35,389

Securities held outright 479,839 + 57 - 299,796

U.S. Treasury1 479,839 + 57 - 299,796

Bills2 21,740 0 - 245,279

Notes and bonds, nominal2 411,731 0 - 60,411

Notes and bonds, inflation-indexed2 39,832 0 + 4,079

Inflation compensation3 6,536 + 56 + 1,814

Federal agency2 0 0 0

Repurchase agreements4 98,000 - 28,750 + 65,250

Term auction credit 150,000 0 + 150,000

Other loans 121,294 + 97,738 + 119,935

Net portfolio holdings of Maiden Lane LLC5 29,367 + 40 + 29,367

Items in process of collection (495) 908 - 524 - 2,374

Bank premises 2,168 + 3 + 82

Other assets6 99,289 + 2,765 + 61,143

Total assets (495) 995,570 + 71,352 + 123,984

Liabilities

Federal Reserve notes, net of F.R. Bank holdings 796,094 - 1,508 + 22,727

Reverse repurchase agreements7 46,633 + 2,337 + 10,408

Deposits (0) 106,045 + 67,750 + 87,827

Depository institutions 89,102 + 57,034 + 75,650

U.S. Treasury, general account 5,512 + 100 + 1,057

Foreign official 102 - 420 + 4

Other (0) 11,330 + 11,038 + 11,117

Deferred availability cash items (495) 2,614 - 111 - 800

Other liabilities and accrued dividends8,9 2,849 + 2,010 - 3,184

Total liabilities (495) 954,235 + 70,478 + 116,978

Capital accounts

Capital paid in 20,211 + 9 + 3,243

Surplus 18,516 + 2 + 3,091

Other capital accounts 2,608 + 863 + 672

Total capital 41,335 + 874 + 7,006

H.4.1

4. Consolidated Statement of Condition of All Federal Reserve Banks

Millions of dollars

Change since

Wednesday

 Sep 19, 2007

Eliminations from

consolidation Wednesday

 Sep 17, 2008

Wednesday

 Sep 10, 2008

Assets, liabilities, and capital
    11, 9, 9,  8,  1,      1, + 2, 16,

 344 71 53 22,874 16,582 16,582 751 15,830 0 3,387 2,075 831 0 14 127 1,287 + 4,261 29,032

 913 212 173 55,468 42,350 42,350 1,919 40,432 0 8,649 3,051 1,417 0 147 208 4,874 +15,520 77,514

 1,221 166 191 65,470 47,743 47,743 2,163 45,580 0 9,751 7,690 286 0 313 226 7,823 +24,963 100,373

 891 147 189 68,036 43,511 43,511 1,971 41,540 0 8,886 14,852 786 0 149 213 24,232 - 5,769 88,087

 423 104 125 31,211 18,195 18,195 824 17,371 0 3,716 9,300 0 0 143 150 6,462 - 1,898 36,720

 424 115 39 28,548 20,126 20,126 912 19,214 0 4,110 4,300 11 0 41 122 5,374 +27,719 62,383

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 1,468 849,133 479,839 479,839 21,740 458,099 0 98,000 150,000 121,294 29,367 1,403 2,168 99,289 0 996,066

 453 83 111 27,119 20,950 20,950 949 20,001 0 4,279 1,782 108 0 165 64 8,933 + 4,838 41,766

 3,935 874 74 400,772 170,724 170,724 7,735 162,989 0 34,868 82,865 112,315 29,367 0 212 27,139 -72,014 390,358

H.4.15. Statement of Condition of Each Federal Reserve Bank, September 17, 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.

 989,956 193,862 796,094 46,633 106,045 89,102 5,512 102 11,330 3,110 2,849 954,731 20,211 18,516 2,608 996,066

 37,121 5,611 31,510 1,956 26,746 26,689 0 2 55 142 149 60,503 784 1,050 47 62,383

 351,815 54,248 297,567 16,592 65,236 48,455 5,512 72 11,198 0 430 379,824 5,087 4,678 768 390,358

 41,196 7,007 34,189 2,036 401 397 0 4 0 455 177 37,256 2,328 1,814 367 41,766

 39,600 8,715 30,885 1,768 506 502 0 3 1 438 177 33,775 1,521 1,291 132 36,720

 81,268 13,167 68,101 4,229 4,673 4,601 0 11 61 239 434 77,676 5,197 4,999 215 88,087

 120,245 29,605 90,640 4,640 1,248 1,243 0 3 2 221 345 97,094 1,596 1,426 258 100,373

 81,471 14,624 66,846 4,116 3,334 3,332 0 2 0 257 290 74,844 1,305 815 550 77,514

 30,247 3,713 26,534 1,611 298 286 0 0 11 54 149 28,646 182 180 24 29,032

 17,6 2,9 14,6 8 2 2    2 1 16,2 3 3  16,9

H.4.15. Statement of Condition of Each Federal Reserve Bank, September 17, 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

 Sep 17, 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.

 989,956 193,862 796,094 796,094 11,037 2,200 533,638 249,220 577,839 44,202 533,638