For Release at 

4:30 P.M. Eastern time 

 July 17, 2008 

The weekly average value of net portfolio holdings of Maiden Lane LLC reflects holdings from 

Thursday, July 10, 2008, through Wednesday, July 16, 2008. The holdings for the first six days of 

this week are based on the values as of June 26, 2008. The holdings for the last day were based on 

values as of June 30, 2008, the quarterly revaluation date. The fair value of the net portfolio 

holdings will be updated quarterly. 

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

reserve balances of depository institutions

at Federal Reserve Banks

Reserve Bank credit 888,418 + 552 + 34,759 895,160

Securities held outright 479,004 + 79 - 311,636 479,036

U.S. Treasury1 479,004 + 79 - 311,636 479,036

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 5,701 + 79 + 1,210 5,733

Federal agency2 0 0 0 0

Repurchase agreements4 111,143 - 2,214 + 88,607 116,750

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

Other loans 14,301 + 1,287 + 13,941 16,192

Primary credit 13,916 + 1,060 + 13,771 16,097

Secondary credit 279 + 222 + 279 0

Seasonal credit 98 - 3 - 118 94

Primary dealer credit facility 9 + 9 + 9 0

Other credit extensions 0 0 0 0

Net portfolio holdings of Maiden Lane LLC5 28,955 + 55 + 28,955 29,019

Float -1,344 + 17 - 618 -2,072

Other Federal Reserve assets 106,359 + 1,328 + 65,511 106,236

Gold stock 11,041 0 0 11,041

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

Treasury currency outstanding6 38,889 + 14 + 358 38,889

Total factors supplying reserve funds 940,548 + 566 + 35,117 947,289

Currency in circulation6 830,117 - 2,976 + 16,121 830,730

Reverse repurchase agreements7 42,046 - 938 + 10,480 43,007

Foreign official and international accounts 42,046 - 938 + 10,480 43,007

Dealers 0 0 0 0

Treasury cash holdings 279 + 4 - 71 272

Deposits with F.R. Banks, other than reserve balances 12,285 - 444 + 1,243 11,669

U.S. Treasury, general account 4,711 - 469 + 537 4,036

Foreign official 101 + 1 - 23 102

Service-related 7,195 0 + 764 7,195

Required clearing balances 7,195 0 + 764 7,195

Adjustments to compensate for float 0 0 0 0

Other 278 + 24 - 34 336

Other liabilities and capital8 45,073 + 725 + 5,723 45,003

Total factors, other than reserve balances,

absorbing reserve funds 929,800 - 3,630 + 33,495 930,681

Reserve balances with Federal Reserve Banks 10,748 + 4,196 + 1,622 16,608

FEDERAL RESERVE statistical release

 July 17, 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 16, 2008 Week ended

 Jul 16, 2008 Jul 9, 2008 Jul 18, 2007
Wednesday

 Jul 16, 2008

Holdings

 U.S. Treasury

securities2

Marketable securities held in custody for foreign

 official and international accounts1 2,347,973 - 2,065 + 351,954 2,349,163

U.S. Treasury 1,364,058 - 11,364 + 112,581 1,363,223

Federal agency 983,915 + 9,299 + 239,372 985,941

Securities lent to dealers 104,270 - 5,505 + 99,592 103,860

Overnight facility2 4,142 - 1,879 - 536 4,260

Term facility3 100,128 - 3,626 + 100,128 99,600

H.4.1

1A. Memorandum Items, July 16, 2008

Millions of dollars

Averages of daily figures

Week ended

 Jul 16, 2008

Change from week ended Wednesday

 Jul 16, 2008

 Jul 9, 2008 Jul 18, 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 16, 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

 150,000

 0

 ...

 ...

 ...

 ...

 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

 5,272

 10,919

 0

 ...

 ...

 ...

 16,192

 13,215

 31,854

 74,878

 172,629

 89,829

 96,631

 479,036

 + 8,396

 - 8,396

 + 1,240

 - 863

 - 326

 + 34

 + 85

 76,750

 40,000

 ...

 ...

 ...

 ...

 116,750

 43,007

 0

 ...

 ...

 ...

 ...

 43,007

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

 29,019

 28,820

 37

 1,154

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 1,311 + 12 + 330

Securities, repurchase agreements, term auction

credit, and other loans 761,977 + 12,695 - 56,185

Securities held outright 479,036 + 85 - 311,624

U.S. Treasury1 479,036 + 85 - 311,624

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 5,733 + 85 + 1,223

Federal agency2 0 0 0

Repurchase agreements4 116,750 + 9,750 + 89,500

Term auction credit 150,000 0 + 150,000

Other loans 16,192 + 2,860 + 15,940

Net portfolio holdings of Maiden Lane LLC5 29,019 + 75 + 29,019

Items in process of collection (610) 1,067 - 601 - 2,162

Bank premises 2,157 + 3 + 111

Other assets6 104,205 + 961 + 65,154

Total assets (610) 912,972 + 13,143 + 36,265

Liabilities

Federal Reserve notes, net of F.R. Bank holdings 793,421 - 2,238 + 16,477

Reverse repurchase agreements7 43,007 + 1,731 + 10,500

Deposits (0) 28,403 + 12,710 + 3,800

Depository institutions 23,929 + 12,919 + 4,013

U.S. Treasury, general account 4,036 - 319 - 64

Foreign official 102 + 2 - 191

Other (0) 336 + 109 + 42

Deferred availability cash items (610) 3,139 - 92 - 661

Other liabilities and accrued dividends8,9 4,190 + 512 - 1,488

Total liabilities (610) 872,159 + 12,622 + 28,627

Capital accounts

Capital paid in 19,884 + 4 + 3,715

Surplus 18,493 0 + 3,094

Other capital accounts 2,437 + 519 + 830

Total capital 40,814 + 523 + 7,640

H.4.1

4. Consolidated Statement of Condition of All Federal Reserve Banks

Millions of dollars

Change since

Wednesday

 Jul 18, 2007

Eliminations from

consolidation Wednesday

 Jul 16, 2008

Wednesday

 Jul 9, 2008

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

 344 71 48 22,749 16,554 16,554 751 15,803 0 4,034 2,016 145 0 30 125 1,380 + 4,830 29,577

 913 212 159 57,661 42,279 42,279 1,919 40,361 0 10,304 4,350 728 0 234 208 5,153 +16,215 80,756

 1,221 166 155 65,851 47,663 47,663 2,163 45,500 0 11,616 6,390 181 0 80 227 8,226 +22,655 98,580

 891 147 166 67,598 43,438 43,438 1,971 41,467 0 10,587 13,479 94 0 88 203 25,305 - 6,840 87,559

 423 104 112 28,412 18,165 18,165 824 17,340 0 4,427 5,810 10 0 425 150 6,754 + 1,544 37,925

 424 115 35 26,491 20,093 20,093 912 19,181 0 4,897 1,500 1 0 71 119 5,627 + 4,023 36,906

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 1,311 761,977 479,036 479,036 21,740 457,296 0 116,750 150,000 16,192 29,019 1,676 2,157 104,205 0 913,582

 453 83 96 26,298 20,915 20,915 949 19,966 0 5,097 240 45 0 -120 65 9,305 + 7,947 44,127

 3,935 874 59 316,282 170,438 170,438 7,735 162,703 0 41,539 92,305 12,000 29,019 0 212 28,586 -54,027 324,940

H.4.15. Statement of Condition of Each Federal Reserve Bank, July 16, 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.

 989,874 196,453 793,421 43,007 28,403 23,929 4,036 102 336 3,749 4,190 872,769 19,884 18,493 2,437 913,582

 37,333 4,945 32,388 1,804 549 545 0 2 2 175 138 35,054 764 1,050 37 36,906

 348,166 59,867 288,299 15,302 8,932 4,630 4,036 72 194 0 1,965 314,497 5,065 4,657 720 324,940

 40,692 7,000 33,692 1,878 3,421 3,417 0 4 0 513 149 39,653 2,335 1,814 325 44,127

 38,838 6,957 31,881 1,631 878 874 0 3 1 693 161 35,244 1,322 1,291 68 37,925

 80,835 12,875 67,960 3,900 4,516 4,382 0 11 124 317 376 77,069 5,178 4,998 314 87,559

 119,687 30,846 88,841 4,279 1,685 1,682 0 3 0 256 320 95,381 1,563 1,425 211 98,580

 83,106 13,169 69,936 3,796 3,800 3,798 0 2 0 333 273 78,137 1,281 815 522 80,756

 30,743 3,676 27,067 1,486 426 412 0 0 13 69 145 29,194 181 180 22 29,577

 17,9 2,8 15,1 8 3 3    2  16,6 3 3  17,3

H.4.15. Statement of Condition of Each Federal Reserve Bank, July 16, 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 16, 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.

 989,874 196,453 793,421 793,421 11,037 2,200 553,300 226,884 595,786 42,486 553,300