Reserve Bank credit, related items, and

reserve balances of depository institutions

at Federal Reserve Banks

Reserve Bank credit 2,246,527 + 39,255 +1,354,752 2,248,507

Securities held outright 496,227 + 233 - 244,384 495,629

U.S. Treasury1 475,961 - 106 - 264,650 475,921

Bills2 18,423 0 - 209,418 18,423

Notes and bonds, nominal2 410,491 0 - 60,493 410,491

Notes and bonds, inflation-indexed2 41,071 0 + 4,160 41,071

Inflation compensation3 5,975 - 107 + 1,099 5,936

Federal agency2 20,266 + 339 + 20,266 19,708

Repurchase agreements4 80,000 0 + 40,250 80,000

Term auction credit 450,219 + 29,413 + 410,219 450,219

Other loans 187,770 - 9,098 + 181,983 193,874

Primary credit 86,550 + 290 + 80,780 93,769

Secondary credit 18 - 33 + 18 15

Seasonal credit 4 + 1 - 12 7

Primary dealer and other broker-dealer credit5 38,476 - 7,203 + 38,476 37,404

Asset-backed commercial paper money

market mutual fund liquidity facility 23,797 - 1,061 + 23,797 23,765

Credit extended to American International

Group, Inc.6 38,924 - 1,094 + 38,924 38,914

Other credit extensions 0 0 0 0

Net portfolio holdings of Commercial Paper

Funding Facility LLC7 332,410 + 6,614 + 332,410 334,102

Net portfolio holdings of LLCs funded through the

money market investor funding facility8 0 0 0 0

Net portfolio holdings of Maiden Lane LLC9 26,974 + 56 + 26,974 27,023

Net portfolio holdings of Maiden Lane II LLC10 20,059 + 26 + 20,059 20,117

Net portfolio holdings of Maiden Lane III LLC11 27,990 - 95 + 27,990 26,785

Float -862 + 305 + 166 -1,491

Other Federal Reserve assets 625,741 + 11,802 + 559,086 622,250

Gold stock 11,041 0 0 11,041

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

Treasury currency outstanding12 38,857 + 14 + 176 38,857

Total factors supplying reserve funds 2,298,625 + 39,269 +1,354,928 2,300,605

FEDERAL RESERVE statistical release

 January 2, 2009

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. Footnotes appear on the following page.

Change from week ended Wednesday

 Dec 31, 2008 Week ended

 Dec 31, 2008 Dec 24, 2008 Jan 2, 2008
Reserve Bank credit, related items, and

reserve balances of depository institutions

at Federal Reserve Banks

Currency in circulation12 888,933 + 7,472 + 59,858 890,081

Reverse repurchase agreements13 84,442 - 3,316 + 42,569 88,352

Foreign official and international accounts 84,442 - 3,316 + 42,569 88,352

Dealers 0 0 0 0

Treasury cash holdings 250 + 15 - 9 259

Deposits with F.R. Banks, other than reserve balances 397,826 - 27,831 + 381,721 392,420

U.S. Treasury, general account 114,229 - 11,704 + 105,536 106,123

U.S. Treasury, supplementary financing account 263,600 - 25,647 + 263,600 259,325

Foreign official 505 - 139 + 408 1,365

Service-related 4,386 - 28 - 2,228 4,386

Required clearing balances 4,385 0 - 2,229 4,385

Adjustments to compensate for float 0 - 29 0 0

Other 15,106 + 9,688 + 14,405 21,221

Other liabilities and capital14 79,314 - 326 + 36,105 73,880

Total factors, other than reserve balances,

absorbing reserve funds 1,450,766 - 23,984 + 520,244 1,444,993

Reserve balances with Federal Reserve Banks 847,859 + 63,252 + 834,684 855,613

H.4.1

1. Factors Affecting Reserve Balances of Depository Institutions, continued

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. 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.

Change from week ended Wednesday

 Dec 31, 2008 Week ended

 Dec 31, 2008 Dec 24, 2008 Jan 2, 2008
Marketable securities held in custody for foreign

 official and international accounts1 2,516,463 + 6,771 + 455,576 2,521,960

U.S. Treasury 1,699,437 + 14,740 + 468,596 1,707,443

Federal agency 817,026 - 7,969 - 13,020 814,517

Securities lent to dealers 179,662 - 4,904 + 163,158 180,765

Overnight facility2 6,491 - 479 - 10,013 9,165

Term facility3 173,171 - 4,425 + 173,171 171,600

1A. Memorandum Items

Millions of dollars

Averages of daily figures

Week ended

 Dec 31, 2008

Change from week ended Wednesday

 Dec 31, 2008

 Dec 24, 2008 Jan 2, 2008

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.

Memorandum item

H.4.1

91 days to

1 year

2. Maturity Distribution of Term Auction Credit, Other Loans, and Securities, December 31, 2008

Millions of dollars

Within 15 days Over 1 year

to 5 years

16 days to

 90 days

All

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.

Remaining maturity Over 5 years

to 10 years

Over 10

years

Term auction credit

Other loans1

U.S. Treasury securities2

Holdings

Weekly changes

Federal agency securities

Holdings

Weekly changes

Commercial paper held by

Commercial Paper Funding

Facility LLC3

Money market instruments held by

LLCs funded through the

money market investor

funding facility4

Repurchase agreements5

Reverse repurchase agreements5

 244,809

 133,040

 19,138

+ 1,837

 450

- 1,170

 0

 0

 40,000

 88,352

...

 0

 63,330

- 1,148

 976

 0

 0

 0

...

...

...

 38,914

 173,328

+ 1,290

 11,361

 0

...

...

...

...

 205,410

 21,921

 20,965

- 2,015

 3,281

 0

 334,415

 0

 40,000

 0

...

...

 97,325

- 20

 3,640

 0

...

...

...

...

...

...

 101,834

- 37

 0

 0

...

...

...

...

 450,219

 193,874

 475,921

- 93

 19,708

- 1,170

 334,415

 0

 80,000

 88,352
Wednesday

 Dec 31, 2008

3. 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

 27,023

 28,820

 267

 1,188

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. Any assets purchased after

this valuation date are initially recorded at cost until their estimated fair value as of the purchase date becomes available.

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.

Account name

H.4.1

Wednesday

 Dec 31, 2008

4. Information on Principal Accounts of Maiden Lane II LLC

Millions of dollars

Net portfolio holdings of Maiden Lane II 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

Deferred payment and accrued interest payable to subsidiaries of American International Group, Inc.3

 20,117

 19,494

 27

 1,003

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. Any assets purchased after

this valuation date are initially recorded at cost until their estimated fair value as of the purchase date becomes available.

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 subsidiaries of American

International Group, Inc. in accordance with the asset purchase 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.

Account name
Wednesday

 Dec 31, 2008

7. Information on Principal Accounts of LLCs Funded through the Money Market Investor

 Funding Facility

Millions of dollars

Money market instrument holdings, net1

Other investments, net

Net portfolio holdings of LLCs funded through the money market investor funding facility

Memorandum: Money market instrument holdings, face value

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

Commercial paper issued by LLCs funded through the money market investor funding facility, net of related discounts

 0

 0

 0

 0

 0

 0

 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.

Account name

H.4.1

Wednesday

 Dec 31, 2008

6. Information on Principal Accounts of Commercial Paper Funding Facility LLC

Millions of dollars

Commercial paper holdings, net1

Other investments, net

Net portfolio holdings of Commercial Paper Funding Facility LLC

Memorandum: Commercial paper holdings, face value

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

 332,826

 1,276

 334,102

 334,415

 332,399

 620

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. dollardenominated commercial paper from eligible issuers and thereby foster liquidity in short-term funding markets and increase the availability of credit

for businesses and households.

Account name

Wednesday

 Dec 31, 2008

5. Information on Principal Accounts of Maiden Lane III LLC

Millions of dollars

Net portfolio holdings of Maiden Lane III 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 American International Group, Inc.3

 26,785

 24,339

 45

 5,022

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. Any assets purchased after

this valuation date are initially recorded at cost until their estimated fair value as of the purchase date becomes available.

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.

Account name
Assets

Gold certificate account 11,037 0 0

Special drawing rights certificate account 2,200 0 0

Coin 1,688 + 8 + 519

Securities, repurchase agreements, term auction

credit, and other loans 1,219,723 + 5,982 + 377,423

Securities held outright 495,629 - 1,263 - 244,998

U.S. Treasury1 475,921 - 93 - 264,706

Bills2 18,423 0 - 209,418

Notes and bonds, nominal2 410,491 0 - 60,493

Notes and bonds, inflation-indexed2 41,071 0 + 4,160

Inflation compensation3 5,936 - 93 + 1,044

Federal agency2 19,708 - 1,170 + 19,708

Repurchase agreements4 80,000 0 + 23,250

Term auction credit 450,219 0 + 410,219

Other loans 193,874 + 7,244 + 188,951

Net portfolio holdings of Commercial Paper Funding

Facility LLC5 334,102 + 2,416 + 334,102

Net portfolio holdings of LLCs funded through the

money market investor funding facility6 0 0 0

Net portfolio holdings of Maiden Lane LLC7 27,023 + 57 + 27,023

Net portfolio holdings of Maiden Lane II LLC8 20,117 + 68 + 20,117

Net portfolio holdings of Maiden Lane III LLC9 26,785 - 1,406 + 26,785

Items in process of collection (397) 979 - 224 - 1,171

Bank premises 2,194 + 8 + 60

Other assets10 620,057 + 250 + 555,346

Total assets (397) 2,265,904 + 7,160 +1,340,203

Liabilities

Federal Reserve notes, net of F.R. Bank holdings 853,168 + 3,452 + 61,484

Reverse repurchase agreements11 88,352 + 35 + 47,443

Deposits (0) 1,248,034 + 6,050 +1,200,590

Depository institutions 860,000 + 40,596 + 820,231

U.S. Treasury, general account 106,123 - 11,935 + 98,846

U.S. Treasury, supplementary financing account 259,325 - 29,922 + 259,325

Foreign official 1,365 + 175 + 1,267

Other (0) 21,221 + 7,136 + 20,919

Deferred availability cash items (397) 2,471 - 66 - 726

Other liabilities and accrued dividends12,13 31,728 - 1,945 + 26,479

Total liabilities (397) 2,223,753 + 7,526 +1,335,269

Capital accounts

Capital paid in 21,076 + 5 + 2,630

Surplus 21,076 + 4,230 + 2,774

Other capital accounts 0 - 4,600 - 470

Total capital 42,152 - 365 + 4,935

H.4.1

8. Consolidated Statement of Condition of All Federal Reserve Banks

Millions of dollars

Change since

Wednesday

 Jan 2, 2008

Eliminations from

consolidation Wednesday

 Dec 31, 2008

Wednesday

 Dec 24, 2008

Assets, liabilities, and capital

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 exchangerates.

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.
    16, 9, 8,  8,  1, 5,         11, - 10, 19,

 344 71 43 25,044 17,127 16,446 637 15,810 681 2,765 4,698 454 0 0 0 0 0 17 132 6,422 + 3,065 35,138

 913 212 194 57,726 43,744 42,005 1,626 40,379 1,739 7,061 5,094 1,828 0 0 0 0 0 111 209 28,083 + 34,045 121,492

 1,221 166 214 74,979 49,314 47,353 1,833 45,520 1,961 7,960 17,222 483 0 0 0 0 0 325 225 48,048 + 17,429 142,607

 891 147 233 127,779 44,943 43,156 1,671 41,485 1,787 7,254 75,130 452 0 0 0 0 0 41 233 165,342 - 170,409 124,258

 423 104 136 37,450 18,794 18,047 699 17,348 747 3,034 15,575 48 0 0 0 0 0 164 147 42,930 + 15,073 96,428

 424 115 56 64,302 20,789 19,962 773 19,189 827 3,356 16,150 24,008 0 0 0 0 0 41 123 35,164 - 11,458 88,767

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 Commercial

Paper Funding Facility LLC5

Net portfolio holdings of LLCs funded

through the money market investorfunding facility6

Net portfolio holdings of Maiden

Lane LLC7

Net portfolio holdings of Maiden

Lane II LLC8

Net portfolio holdings of Maiden

Lane III LLC9

Items in process of collectionBank premisesOther assets10Interdistrict settlement account

Total assets

 11,037 2,200 1,688 1,219,723 495,629 475,921 18,423 457,499 19,708 80,000 450,219 193,874 334,102 0 27,023 20,117 26,785 1,377 2,194 620,057 0 2,266,302

 453 83 137 63,762 21,640 20,779 804 19,975 860 3,493 38,300 329 0 0 0 0 0 237 65 60,124 - 68,758 56,101

 3,935 874 76 581,788 176,342 169,330 6,555 162,775 7,012 28,464 220,434 156,549 334,102 0 27,023 20,117 26,785 0 212 156,647 + 128,630 1,280,188

H.4.19. Statement of Condition of Each Federal Reserve Bank, December 31, 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 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.

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 agreements11

Deposits

Depository institutionsU.S. Treasury, general accountU.S. Treasury, supplementary financing accountForeign officialOther

Deferred availability cash itemsOther liabilities and accrued

dividends12,13

Total liabilities

CapitalCapital paid inSurplusOther capital

Total liabilities and capital

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, M

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. Refenote 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 Federawas 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 Commwas formed to purchase three-month U.S. dollar-denominated commercial paper from eligible issuers. On November 24, 2008, the Federal Reserve Board authorizeof LLCs funded through the Money Market Investor Funding Facility, which were established to purchase short-term U.S. dollar-denominated certificates of deposit, 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 American International Group, Inc. has written credit default swap contracts. On December 12, 2008, a loan was extended to Maiden Lane II LLC, which wamortgage-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 aassets 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 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 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 tabH.4.19. Statement of Condition of Each Federal Reserve Bank, December 31, 2008 (continued)Millions of dollars

Assets, liabilities, and capital

 38,508 5,409 33,099 3,706 50,057 49,810 0 0 2 246 69 147 87,078 844 844 0 88,767

 1,022,849 169,682 853,168 88,352 1,248,034 860,000 106,123 259,325 1,365 21,221 2,868 31,728 2,224,150 21,076 21,076 0 2,266,302

 357,560 46,609 310,951 31,435 897,177 509,858 106,123 259,325 1,335 20,536 0 29,410 1,268,973 5,607 5,607 0 1,280,188

 41,373 5,013 36,360 3,858 10,584 10,565 0 0 4 15 515 154 51,471 2,315 2,315 0 56,101

 46,622 7,240 39,381 3,350 49,967 49,963 0 0 3 1 456 168 93,323 1,552 1,552 0 96,428

 81,122 11,552 69,571 8,012 34,147 34,057 0 0 11 79 172 397 112,297 5,980 5,980 0 124,258

 128,631 24,156 104,475 8,791 25,610 25,593 0 0 3 13 158 349 139,383 1,612 1,612 0 142,607

 83,472 12,938 70,534 7,798 41,147 41,013 0 0 2 133 323 283 120,085 703 703 0 121,492

 29,417 3,405 26,012 3,053 5,460 5,446 0 0 0 14 47 147 34,718 210 210 0 35,138

 17,6 2,8 14,7 1,6 1,6 1,6     2  18,4 3 3  19,0
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

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

Federal Reserve notes and collateral Wednesday

 Dec 31, 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.

 1,022,849 169,682 853,168 853,168 11,037 2,200 496,733 343,198 575,629 78,896 496,733