For Release at 

4:30 P.M. Eastern time 

 October 9, 2008 

On October 8, 2008, the Federal Reserve Board announced that it had authorized the Federal 

Reserve Bank of New York to borrow securities from certain regulated U.S. insurance 

subsidiaries of the American International Group (AIG), under section 13(3) of the Federal 

Reserve Act. This transaction is economically equivalent to an extension of credit collateralized 

by the securities borrowed. The Board’s H.4.1 statistical release, “Factors Affecting Reserve 

Balances of Depository Institutions and Condition Statement of Federal Reserve Banks,” reports 

the funds extended to AIG under this transaction with other lending to AIG in table 1 in the line 

“Other credit extensions.” In tables 3, 4, and 5, all of the lending to AIG is included in the item 

“Other loans.” 

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

reserve balances of depository institutions

at Federal Reserve Banks

Reserve Bank credit 1,494,726 + 103,605 + 636,273 1,575,626

Securities held outright 490,942 + 2,401 - 288,671 490,684

U.S. Treasury1 476,594 - 18 - 303,019 476,579

Bills2 18,423 0 - 248,596 18,423

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 6,609 - 18 + 1,910 6,593

Federal agency2 14,347 + 2,418 + 14,347 14,105

Repurchase agreements4 81,143 - 1,857 + 43,072 100,000

Term auction credit 149,000 - 143 + 149,000 149,000

Other loans 420,160 + 52,364 + 419,903 430,866

Primary credit 75,010 + 30,547 + 74,897 98,107

Secondary credit 4 - 282 + 4 0

Seasonal credit 39 - 35 - 105 33

Primary dealer and other broker-dealer credit5 134,066 - 13,626 + 134,066 122,940

Asset-backed commercial paper money

market mutual fund liquidity facility 145,890 + 23,786 + 145,890 139,481

Other credit extensions 65,151 + 11,975 + 65,151 70,304

Net portfolio holdings of Maiden Lane LLC6 29,452 + 39 + 29,452 29,487

Float -1,042 + 173 - 533 -1,545

Other Federal Reserve assets 325,071 + 50,627 + 284,050 377,135

Gold stock 11,041 0 0 11,041

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

Treasury currency outstanding7 38,745 + 14 + 92 38,745

Total factors supplying reserve funds 1,546,713 + 103,619 + 636,366 1,627,613

Currency in circulation7 844,490 + 8,138 + 28,337 848,644

Reverse repurchase agreements8 94,343 + 6,434 + 59,994 77,349

Foreign official and international accounts 76,486 + 5,719 + 42,137 77,349

Dealers 17,857 + 714 + 17,857 0

Treasury cash holdings 262 - 7 - 78 276

Deposits with F.R. Banks, other than reserve balances 442,151 + 137,497 + 430,844 479,629

U.S. Treasury, general account 7,910 - 719 + 3,531 5,544

U.S. Treasury, supplementary financing account 405,771 + 139,690 + 405,771 459,246

Foreign official 115 - 18 + 18 101

Service-related 7,717 - 1 + 1,247 7,717

Required clearing balances 7,717 - 1 + 1,247 7,717

Adjustments to compensate for float 0 0 0 0

Other 20,637 - 1,456 + 20,275 7,021

Other liabilities and capital9 45,717 - 1,197 + 4,596 46,097

Total factors, other than reserve balances,

absorbing reserve funds 1,426,963 + 150,865 + 523,693 1,451,994

Reserve balances with Federal Reserve Banks 119,749 - 47,247 + 112,671 175,619

FEDERAL RESERVE statistical release

 October 9, 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. Includes credit extended through the Primary Dealer Credit Facility and credit extended to certain other broker-dealers.

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

7. Estimated.

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

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 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

 Oct 8, 2008 Week ended

 Oct 8, 2008 Oct 1, 2008 Oct 10, 2007
Wednesday

 Oct 8, 2008

Holdings

 U.S. Treasury

securities2

Marketable securities held in custody for foreign

 official and international accounts1 2,485,145 + 19,494 + 481,282 2,482,380

U.S. Treasury 1,527,818 + 32,629 + 305,983 1,537,578

Federal agency 957,327 - 13,135 + 175,299 944,802

Securities lent to dealers 211,345 - 44,456 + 208,289 217,504

Overnight facility2 20,002 - 2,234 + 16,946 25,658

Term facility3 191,343 - 42,222 + 191,343 191,846

H.4.1

1A. Memorandum Items, October 8, 2008

Millions of dollars

Averages of daily figures

Week ended

 Oct 8, 2008

Change from week ended Wednesday

 Oct 8, 2008

 Oct 1, 2008 Oct 10, 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.

3. Maturity Distribution of Term Auction Credit, Other Loans, and Securities, October 8, 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

 99,000

 50,000

 ...

 ...

 ...

 ...

 149,000

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

 212,462

 128,865

 19,240

 70,299

 ...

 ...

 430,866

 15,615

 26,869

 65,272

 174,085

 93,353

 101,384

 476,579

 + 2,156

 + 2,660

 - 4,820

 - 13

 - 9

 - 17

 - 42

 60,000

 40,000

 ...

 ...

 ...

 ...

 100,000

 77,349

 0

 ...

 ...

 ...

 ...

 77,349

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

 29,487

 28,820

 186

 1,172

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

Holdings

 Federal agency

securities

Weekly

changes

 0

 9,628

 4,477

 0

 0

 0

 14,105

 - 395

 + 450

 - 450

 0

 0

 0

 - 395
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 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 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 1,522 + 13 + 379

Securities, repurchase agreements, term auction

credit, and other loans 1,170,550 + 37,907 + 340,769

Securities held outright 490,684 - 437 - 288,924

U.S. Treasury1 476,579 - 42 - 303,029

Bills2 18,423 0 - 248,596

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

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

Inflation compensation3 6,593 - 42 + 1,899

Federal agency2 14,105 - 395 + 14,105

Repurchase agreements4 100,000 + 17,000 + 50,000

Term auction credit 149,000 0 + 149,000

Other loans 430,866 + 21,344 + 430,693

Net portfolio holdings of Maiden Lane LLC5 29,487 + 40 + 29,487

Items in process of collection (462) 1,191 - 88 - 3,480

Bank premises 2,170 + 3 + 67

Other assets6 374,943 + 49,710 + 335,857

Total assets (462) 1,593,099 + 87,583 + 703,078

Liabilities

Federal Reserve notes, net of F.R. Bank holdings 811,692 + 7,713 + 31,944

Reverse repurchase agreements7 77,349 - 15,714 + 42,925

Deposits (0) 655,226 + 94,802 + 624,897

Depository institutions 183,314 + 4,023 + 157,776

U.S. Treasury, general account 5,544 + 266 + 1,378

U.S. Treasury, supplementary financing account 459,246 + 114,773 + 459,246

Foreign official 101 - 36 + 4

Other (0) 7,021 - 24,224 + 6,492

Deferred availability cash items (462) 2,736 - 33 - 1,977

Other liabilities and accrued dividends8,9 4,109 + 98 - 1,899

Total liabilities (462) 1,551,112 + 86,866 + 695,889

Capital accounts

Capital paid in 20,312 0 + 3,021

Surplus 18,523 + 3 + 3,085

Other capital accounts 3,153 + 715 + 1,083

Total capital 41,988 + 718 + 7,189

H.4.1

4. Consolidated Statement of Condition of All Federal Reserve Banks

Millions of dollars

Change since

Wednesday

 Oct 10, 2007

Eliminations from

consolidation Wednesday

 Oct 8, 2008

Wednesday

 Oct 1, 2008

Assets, liabilities, and capital
    11, 9, 8,  8,  1,      7, - 1, 17,

 344 71 49 22,681 16,956 16,469 637 15,832 487 3,456 2,050 219 0 21 128 3,951 + 3,397 30,643

 913 212 176 56,064 43,308 42,063 1,626 40,437 1,245 8,826 2,156 1,774 0 119 207 16,896 + 6,443 81,030

 1,221 166 202 62,297 48,822 47,419 1,833 45,586 1,403 9,950 3,320 205 0 154 226 28,673 + 12,739 105,678

 891 147 200 94,228 44,494 43,215 1,671 41,545 1,279 9,068 14,709 25,956 0 49 215 97,231 - 81,526 111,435

 423 104 130 30,777 18,607 18,072 699 17,373 535 3,792 8,250 128 0 242 150 25,335 - 17,272 39,889

 424 115 45 171,804 20,581 19,990 773 19,217 592 4,194 7,500 139,529 0 55 123 20,833 -112,175 81,224

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 1,522 1,170,550 490,684 476,579 18,423 458,156 14,105 100,000 149,000 430,866 29,487 1,653 2,170 374,943 0 1,593,561

 453 83 118 32,449 21,424 20,808 804 20,004 616 4,366 0 6,659 0 333 64 35,405 - 23,917 44,988

 3,935 874 73 563,322 174,582 169,564 6,555 163,009 5,018 35,579 100,445 252,716 29,487 0 210 100,279 +212,519 910,699

H.4.15. Statement of Condition of Each Federal Reserve Bank, October 8, 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 and any exchange-translation assets, 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 accountU.S. Treasury, supplementary financing 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 any exchange-translation liabilities, which are revalued daily at market exchange rates.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.H.4.15. Statement of Condition of Each Federal Reserve Bank, October 8, 2008 (continued)Millions of dollars

Assets, liabilities, and capital

 37,544 5,224 32,320 3,244 43,488 43,476 0 0 2 10 77 158 79,287 784 1,050 103 81,224

 990,167 178,475 811,692 77,349 655,226 183,314 5,544 459,246 101 7,021 3,198 4,109 1,551,574 20,312 18,523 3,153 1,593,561

 352,964 50,464 302,500 27,520 568,226 96,502 5,544 459,246 71 6,864 0 1,523 899,769 5,162 4,685 1,083 910,699

 41,536 6,497 35,039 3,377 1,213 1,209 0 0 4 0 566 193 40,389 2,328 1,814 457 44,988

 40,176 7,668 32,508 2,933 744 741 0 0 3 0 493 189 36,867 1,521 1,291 210 39,889

 81,609 11,782 69,827 7,014 23,363 23,211 0 0 11 142 261 473 100,938 5,214 4,999 284 111,435

 120,090 27,468 92,622 7,696 1,367 1,363 0 0 3 0 334 385 102,403 1,607 1,426 242 105,678

 80,679 13,177 67,502 6,827 3,454 3,451 0 0 2 1 279 303 78,365 1,306 815 544 81,030

 29,958 3,317 26,641 2,673 753 750 0 0 0 2 39 155 30,260 182 180 21 30,643

 17,4 2,7 14,6 1,4 5 5     2 1 17,1 3 3  17,8

                 
H.4.1

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

 Oct 8, 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.

 990,167 178,475 811,692 811,692 11,037 2,200 516,710 281,745 590,684 73,974 516,710