Reserve Bank credit, related items, and

reserve balances of depository institutions

at Federal Reserve Banks

Reserve Bank credit 893,846 + 9,492 + 37,175 887,263

Securities held outright 479,701 + 97 - 299,940 479,726

U.S. Treasury1 479,701 + 97 - 299,940 479,726

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 6,398 + 97 + 1,670 6,423

Federal agency2 0 0 0 0

Repurchase agreements4 115,893 + 12,500 + 78,893 109,000

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

Other loans 19,070 + 500 + 17,729 19,089

Primary credit 18,976 + 507 + 17,873 19,000

Secondary credit 0 0 0 0

Seasonal credit 93 - 7 - 145 90

Primary dealer credit facility 0 0 0 0

Other credit extensions 0 0 0 0

Net portfolio holdings of Maiden Lane LLC5 29,253 + 40 + 29,253 29,287

Float -1,474 - 261 - 1,104 -363

Other Federal Reserve assets 101,404 - 3,384 + 62,346 100,524

Gold stock 11,041 0 0 11,041

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

Treasury currency outstanding6 38,803 + 14 + 208 38,803

Total factors supplying reserve funds 945,890 + 9,506 + 37,384 939,307

Currency in circulation6 835,319 + 5,750 + 20,394 836,836

Reverse repurchase agreements7 42,880 + 22 + 7,949 41,756

Foreign official and international accounts 42,880 + 22 + 7,949 41,756

Dealers 0 0 0 0

Treasury cash holdings 281 - 21 - 50 276

Deposits with F.R. Banks, other than reserve balances 12,240 - 195 + 545 13,110

U.S. Treasury, general account 4,746 - 82 + 61 5,606

Foreign official 100 - 1 + 5 100

Service-related 7,087 - 88 + 475 7,087

Required clearing balances 7,087 - 88 + 475 7,087

Adjustments to compensate for float 0 0 0 0

Other 307 - 25 + 4 317

Other liabilities and capital8 44,277 + 1,776 + 3,667 43,498

Total factors, other than reserve balances,

absorbing reserve funds 934,997 + 7,333 + 32,506 935,476

Reserve balances with Federal Reserve Banks 10,893 + 2,173 + 4,878 3,831

FEDERAL RESERVE statistical release

 September 4, 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 3, 2008 Week ended

 Sep 3, 2008 Aug 27, 2008 Sep 5, 2007
Wednesday

 Sep 3, 2008

Holdings

 U.S. Treasury

securities2

Marketable securities held in custody for foreign

 official and international accounts1 2,403,824 - 1,072 + 423,629 2,395,399

U.S. Treasury 1,437,964 + 3,666 + 230,785 1,436,830

Federal agency 965,860 - 4,738 + 192,844 958,569

Securities lent to dealers 126,097 + 4,921 + 120,211 120,790

Overnight facility2 9,992 + 6,164 + 4,106 4,892

Term facility3,4 116,105 - 1,243 + 116,105 115,898

H.4.1

1A. Memorandum Items, September 3, 2008

Millions of dollars

Averages of daily figures

Week ended

 Sep 3, 2008

Change from week ended Wednesday

 Sep 3, 2008

 Aug 27, 2008 Sep 5, 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.

4. On September 3, 2008, option contracts on draws on the Term Securities Lending Facility totaling $ 24,998 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 3, 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

 50,000

 100,000

 ...

 ...

 ...

 ...

 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

 4,238

 14,851

 0

 ...

 ...

 ...

 19,089

 14,851

 31,653

 69,268

 170,789

 91,851

 101,314

 479,726

 - 3,604

 + 3,439

 - 1,052

 + 1,250

 + 17

 + 34

 + 84

 69,000

 40,000

 ...

 ...

 ...

 ...

 109,000

 41,756

 0

 ...

 ...

 ...

 ...

 41,756

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

 29,287

 28,820

 124

 1,165

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 1,414 - 1 + 397

Securities, repurchase agreements, term auction

credit, and other loans 757,815 - 1,829 - 58,164

Securities held outright 479,726 + 84 - 299,914

U.S. Treasury1 479,726 + 84 - 299,914

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 6,423 + 84 + 1,696

Federal agency2 0 0 0

Repurchase agreements4 109,000 - 2,000 + 74,000

Term auction credit 150,000 0 + 150,000

Other loans 19,089 + 87 + 17,751

Net portfolio holdings of Maiden Lane LLC5 29,287 + 40 + 29,287

Items in process of collection (743) 3,366 + 2,440 - 2,130

Bank premises 2,162 - 4 + 83

Other assets6 98,381 - 3,976 + 61,137

Total assets (743) 905,661 - 3,330 + 30,609

Liabilities

Federal Reserve notes, net of F.R. Bank holdings 799,719 + 4,025 + 21,058

Reverse repurchase agreements7 41,756 - 2,012 + 6,658

Deposits (0) 16,959 - 7,891 + 847

Depository institutions 10,936 - 8,441 - 350

U.S. Treasury, general account 5,606 + 617 + 1,117

Foreign official 100 0 + 3

Other (0) 317 - 68 + 76

Deferred availability cash items (743) 3,729 + 1,115 - 1,041

Other liabilities and accrued dividends8,9 2,695 + 1,419 - 3,371

Total liabilities (743) 864,859 - 3,343 + 24,152

Capital accounts

Capital paid in 20,191 + 2 + 3,217

Surplus 18,511 + 2 + 3,087

Other capital accounts 2,100 + 9 + 153

Total capital 40,803 + 14 + 6,458

H.4.1

4. Consolidated Statement of Condition of All Federal Reserve Banks

Millions of dollars

Change since

Wednesday

 Sep 5, 2007

Eliminations from

consolidation Wednesday

 Sep 3, 2008

Wednesday

 Aug 27, 2008

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

 344 71 49 22,760 16,578 16,578 751 15,826 0 3,767 2,075 341 0 116 127 1,263 + 4,546 29,276

 913 212 166 55,932 42,340 42,340 1,919 40,422 0 9,620 2,985 986 0 429 207 4,812 +13,153 75,824

 1,221 166 180 66,333 47,732 47,732 2,163 45,569 0 10,845 7,510 246 0 533 226 7,765 +25,015 101,439

 891 147 179 66,554 43,501 43,501 1,971 41,529 0 9,884 12,945 224 0 166 210 24,114 - 7,725 84,535

 423 104 122 31,724 18,191 18,191 824 17,367 0 4,133 9,400 0 0 600 149 6,419 - 2,033 37,508

 424 115 37 31,204 20,122 20,122 912 19,210 0 4,572 6,500 11 0 261 122 5,335 - 935 36,563

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 1,414 757,815 479,726 479,726 21,740 457,986 0 109,000 150,000 19,089 29,287 4,109 2,162 98,381 0 906,404

 453 83 103 28,357 20,946 20,946 949 19,996 0 4,759 2,582 71 0 571 64 8,887 + 3,656 42,175

 3,935 874 69 304,878 170,684 170,684 7,735 162,949 0 38,782 83,383 12,030 29,287 96 212 26,800 -38,083 328,069

H.4.15. Statement of Condition of Each Federal Reserve Bank, September 3, 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.

 990,711 190,992 799,719 41,756 16,959 10,936 5,606 100 317 4,472 2,695 865,602 20,191 18,511 2,100 906,404

 37,037 5,178 31,860 1,751 722 713 0 2 7 225 152 34,711 787 1,050 16 36,563

 351,119 56,297 294,822 14,856 7,734 1,870 5,606 70 188 0 258 317,672 5,087 4,674 636 328,069

 41,095 6,713 34,382 1,823 614 610 0 4 0 721 174 37,714 2,328 1,814 318 42,175

 39,452 8,112 31,340 1,583 830 827 0 3 0 684 177 34,614 1,522 1,291 81 37,508

 81,087 12,719 68,368 3,786 1,309 1,189 0 11 110 348 434 74,245 5,190 4,999 101 84,535

 121,388 29,345 92,043 4,155 1,252 1,249 0 3 0 377 360 98,186 1,596 1,426 232 101,439

 81,615 13,474 68,142 3,685 717 715 0 2 0 365 290 73,199 1,290 815 519 75,824

 30,292 3,388 26,904 1,443 319 308 0 0 11 76 153 28,896 182 180 19 29,276

 17,6 2,8 14,8 7 2 2    3 1 16,3 3 3  17,0

H.4.15. Statement of Condition of Each Federal Reserve Bank, September 3, 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 3, 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.

 990,711 190,992 799,719 799,719 11,037 2,200 548,031 238,451 588,726 40,694 548,031