FEDERAL RESERVE statistical release

For release on

June 30, 2011

The Board’s H.4.1 statistical release ("Factors Affecting Reserve Balances of Depository Institutions

and Condition Statement of Federal Reserve Banks") for September 25, 2008, overstated the average

amount outstanding of securities lent under the Term Securities Lending Facility (TSLF). On

September 18, 2008, a set of securities lent under the TSLF was returned to the Federal Reserve, but

the return of these securities was not reflected in the reported value for the TSLF until September

24, 2008. As a result, corrections to table 1A, Memorandum Items, have been made to reflect the

earlier return of these securities on September 18, 2008. Under the TSLF, the Federal Reserve

maintained ownership of securities lent, and the lending of securities did not directly affect the

Federal Reserve’s assets and liabilities.

In table 1A, the weekly average value of the "Term facility" for the week ended Wednesday, 

September 24, 2008, was corrected from $185,636 million to $174,045 million. Also in table 1A, the

weekly average value of "Securities lent to dealers" for the week ended Wednesday, September 24,

2008, was corrected from $204,948 million to $193,357 million.
For Release at 

4:30 P.M. Eastern time 

 September 25, 2008 

The Board’s H.4.1 statistical release, “Factors Affecting Reserve Balances of Depository Institutions 

and Condition Statement of Federal Reserve Banks” has been modified in a number of ways. 

On September 17, the Treasury Department announced the Supplementary Financing Program. 

Under this program, the Treasury issues marketable debt and deposits the proceeds in an account at 

the Federal Reserve that is segregated from the Treasury General Account. This account is shown 

as “U.S. Treasury, supplementary financing account” in table 1, table 4, and table 5. 

On September 19, the Federal Reserve announced a new lending facility to extend non-recourse 

loans to U.S. depository institutions and bank holding companies to finance their purchases of highquality asset-backed commercial paper from money market mutual funds. Extensions of this credit 

are reported in table 1 as “Asset-backed commercial paper money market mutual fund liquidity 

facility” and reflected in “Other loans” in table 3, table 4, and table 5.

On September 21, the Board of Governors authorized the Federal Reserve Bank of New York to 

extend credit to the U.S. broker-dealer subsidiaries of Goldman Sachs, Morgan Stanley, and Merrill 

Lynch against all types of collateral that may be pledged at the Federal Reserve’s primary credit 

facility for depository institutions or at the existing Primary Dealer Credit Facility. In addition, the 

Board authorized the Federal Reserve Bank of New York to extend credit to the London-based 

broker-dealer subsidiaries of Goldman Sachs, Morgan Stanley, and Merrill Lynch against the types of 

collateral that would be eligible to be pledged at the Primary Dealer Credit Facility. Credit extended 

under these authorizations will be included, along with credit extended under the Primary Dealer 

Credit Facility, in Table 1 under the entry “Primary dealer and other broker-dealer credit.” 

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

reserve balances of depository institutions

at Federal Reserve Banks

Reserve Bank credit 1,134,942 + 203,602 + 275,175 1,196,804

Securities held outright 480,272 + 454 - 299,362 486,578

U.S. Treasury1 476,557 - 3,261 - 303,077 476,578

Bills2 18,423 - 3,317 - 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 6,572 + 57 + 1,852 6,593

Federal agency2 3,714 + 3,714 + 3,714 10,000

Repurchase agreements4 111,714 - 12,786 + 72,607 86,000

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

Other loans 187,753 + 139,784 + 187,447 262,341

Primary credit 39,357 + 17,759 + 39,269 39,327

Secondary credit 19 + 11 + 19 19

Seasonal credit 95 - 1 - 123 101

Primary dealer and other broker-dealer credit5 88,147 + 67,879 + 88,147 105,662

Asset-backed commercial paper money

market mutual fund liquidity facility 21,760 + 21,760 + 21,760 72,667

Other credit extensions 38,375 + 32,375 + 38,375 44,566

Net portfolio holdings of Maiden Lane LLC6 29,373 + 40 + 29,373 29,407

Float -1,060 + 12 - 883 -1,412

Other Federal Reserve assets 176,891 + 76,100 + 135,994 183,890

Gold stock 11,041 0 0 11,041

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

Treasury currency outstanding7 38,774 + 14 + 146 38,774

Total factors supplying reserve funds 1,186,957 + 203,616 + 275,321 1,248,819

Currency in circulation7 833,900 + 1,514 + 24,055 836,437

Reverse repurchase agreements8 59,790 + 14,047 + 24,652 90,673

Foreign official and international accounts 56,219 + 10,476 + 21,081 65,673

Dealers 3,571 + 3,571 + 3,571 25,000

Treasury cash holdings 262 - 5 - 71 270

Deposits with F.R. Banks, other than reserve balances 142,043 + 127,677 + 130,300 187,138

U.S. Treasury, general account 5,088 + 147 + 327 5,175

U.S. Treasury, supplementary financing account 117,046 + 117,046 + 117,046 159,806

Foreign official 119 - 49 + 22 150

Service-related 7,363 + 3 + 716 7,363

Required clearing balances 7,363 + 3 + 716 7,363

Adjustments to compensate for float 0 0 0 0

Other 12,427 + 10,530 + 12,189 14,644

Other liabilities and capital9 46,456 + 2,873 + 5,306 46,361

Total factors, other than reserve balances,

absorbing reserve funds 1,082,451 + 146,106 + 184,241 1,160,879

Reserve balances with Federal Reserve Banks 104,506 + 57,510 + 91,080 87,941

FEDERAL RESERVE statistical release

 September 25, 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

 Sep 24, 2008 Week ended

 Sep 24, 2008 Sep 17, 2008 Sep 26, 2007
Wednesday

 Sep 24, 2008

Holdings

 U.S. Treasury

securities2

Marketable securities held in custody for foreign

 official and international accounts1 2,421,895 + 13,040 + 426,649 2,435,934

U.S. Treasury 1,458,093 + 8,480 + 243,251 1,469,207

Federal agency 963,802 + 4,560 + 183,398 966,727

Securities lent to dealers 193,357 + 67,683 + 190,038 190,532

Overnight facility2 19,312 + 10,908 + 15,993 16,059

Term facility3 174,045 + 56,775 + 174,045 174,473

H.4.1

1A. Memorandum Items, September 24, 2008

Millions of dollars

Averages of daily figures

Week ended

 Sep 24, 2008

Change from week ended Wednesday

 Sep 24, 2008

 Sep 17, 2008 Sep 26, 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, September 24, 2008

Millions of dollars

Term auction

credit Weekly

changes

Other

loans1

Repurchase

agreements3

Reverse

repurchase

agreements3

* On 10/02/2008, the amount of other loans with remaining maturities of 91 days to 1 year was revised from $49,919 million to $5,353 million. The amount of other

loans with remaining maturities over 1 year to 5 years was revised from --- to $44,566 million. 

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

 100,000

 50,000

 ...

 ...

 ...

 ...

 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

 135,248

 77,174

 5,353

 44,566

 ...

 ...

 262,341

 19,326

 23,716

 68,105

 170,694

 93,353

 101,384

 476,578

 + 2,968

 - 6,285

 + 4

 + 18

 + 12

 + 23

 - 3,261

 46,000

 40,000

 ...

 ...

 ...

 ...

 86,000

 90,673

 0

 ...

 ...

 ...

 ...

 90,673

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

 29,407

 28,820

 161

 1,169

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

 395

 5,632

 3,973

 0

 0

 0

 10,000

 + 395

 + 5,632

 + 3,973

 0

 0

 0

 + 10,000
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 1,494 + 26 + 389

Securities, repurchase agreements, term auction

credit, and other loans 984,920 + 135,787 + 149,080

Securities held outright 486,578 + 6,739 - 293,055

U.S. Treasury1 476,578 - 3,261 - 303,055

Bills2 18,423 - 3,317 - 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 + 57 + 1,874

Federal agency2 10,000 + 10,000 + 10,000

Repurchase agreements4 86,000 - 12,000 + 30,000

Term auction credit 150,000 0 + 150,000

Other loans 262,341 + 141,047 + 262,134

Net portfolio holdings of Maiden Lane LLC5 29,407 + 40 + 29,407

Items in process of collection (474) 968 + 60 - 1,639

Bank premises 2,169 + 1 + 79

Other assets6 181,718 + 82,429 + 142,905

Total assets (474) 1,213,912 + 218,342 + 320,221

Liabilities

Federal Reserve notes, net of F.R. Bank holdings 799,422 + 3,328 + 24,579

Reverse repurchase agreements7 90,673 + 44,040 + 55,361

Deposits (0) 275,076 + 169,031 + 235,565

Depository institutions 95,301 + 6,199 + 61,062

U.S. Treasury, general account 5,175 - 337 + 232

U.S. Treasury, supplementary financing account 159,806 + 159,806 + 159,806

Foreign official 150 + 48 + 54

Other (0) 14,644 + 3,314 + 14,411

Deferred availability cash items (474) 2,380 - 234 - 800

Other liabilities and accrued dividends8,9 4,602 + 1,753 - 1,404

Total liabilities (474) 1,172,153 + 217,918 + 313,302

Capital accounts

Capital paid in 20,236 + 25 + 3,089

Surplus 18,516 0 + 3,091

Other capital accounts 3,008 + 400 + 740

Total capital 41,759 + 424 + 6,919

H.4.1

4. Consolidated Statement of Condition of All Federal Reserve Banks

Millions of dollars

Change since

Wednesday

 Sep 26, 2007

Eliminations from

consolidation Wednesday

 Sep 24, 2008

Wednesday

 Sep 17, 2008

Assets, liabilities, and capital
    11, 9, 8, 3 8,  1,      3,4 + 2, 17,

 344 71 57 22,263 16,814 16,469 637 15,832 346 2,972 2,075 402 0 18 128 2,101 + 5,367 30,350

 913 212 174 55,066 42,945 42,063 1,626 40,437 883 7,590 3,051 1,479 0 107 208 8,543 +13,823 79,045

 1,221 166 195 64,953 48,414 47,419 1,833 45,586 995 8,557 7,690 292 0 228 226 14,182 +24,214 105,384

 891 147 191 67,153 44,122 43,215 1,671 41,545 907 7,798 14,852 381 0 59 213 46,439 -23,092 92,001

 423 104 129 31,012 18,451 18,072 699 17,373 379 3,261 9,300 0 0 291 150 12,212 - 3,312 41,010

 424 115 40 101,009 20,409 19,990 773 19,217 419 3,607 4,300 72,693 0 277 121 10,057 -45,820 66,222

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 1,494 984,920 486,578 476,578 18,423 458,156 10,000 86,000 150,000 262,341 29,407 1,442 2,169 181,718 0 1,214,386

 453 83 112 27,454 21,245 20,808 804 20,004 437 3,755 1,782 672 0 -30 64 16,965 - 1,253 43,849

 3,935 874 73 466,774 173,122 169,564 6,555 163,009 3,558 30,598 82,865 180,190 29,407 0 211 47,925 +22,560 571,760

H.4.15. Statement of Condition of Each Federal Reserve Bank, September 24, 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 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 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.H.4.15. Statement of Condition of Each Federal Reserve Bank, September 24, 2008 (continued)Millions of dollars

Assets, liabilities, and capital

 37,180 5,809 31,371 3,803 28,957 28,939 0 0 2 15 52 154 64,337 784 1,050 51 66,222

 989,581 190,158 799,422 90,673 275,076 95,301 5,175 159,806 150 14,644 2,854 4,602 1,172,627 20,236 18,516 3,008 1,214,386

 353,830 51,602 302,229 32,261 224,512 44,857 5,175 159,806 120 14,554 0 2,091 561,092 5,087 4,678 902 571,760

 41,020 7,063 33,956 3,959 729 725 0 0 4 0 451 184 39,279 2,328 1,814 429 43,849

 39,517 8,826 30,691 3,438 3,249 3,244 0 0 3 2 450 183 38,012 1,521 1,291 186 41,010

 80,736 13,185 67,551 8,222 4,972 4,900 0 0 11 61 240 443 81,429 5,213 4,999 360 92,001

 120,762 29,934 90,827 9,022 1,662 1,659 0 0 3 0 221 369 102,101 1,605 1,426 253 105,384

 80,762 14,554 66,208 8,003 1,617 1,615 0 0 2 0 242 301 76,371 1,305 815 553 79,045

 29,947 3,704 26,243 3,133 382 372 0 0 0 9 53 154 29,964 182 180 25 30,350

 17,5 3,0 14,4 1,7 2 2     2 1 16,8 3 3  17,5

                 
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 pledged1

Other 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 24, 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.

 989,581 190,158 799,422 799,422 11,037 2,200 487,847 298,338 572,578 84,731 487,847