Reserve Bank credit, related items, and

reserve balances of depository institutions

at Federal Reserve Banks

Reserve Bank credit 887,866 - 2,164 + 33,967 882,042

Securities held outright 478,925 + 87 - 311,662 478,951

U.S. Treasury1 478,925 + 87 - 311,662 478,951

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 5,622 + 87 + 1,185 5,648

Federal agency2 0 0 0 0

Repurchase agreements4 113,357 + 3,107 + 90,464 107,000

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

Other loans 13,014 - 3,766 + 12,776 13,332

Primary credit 12,856 - 2,005 + 12,813 12,985

Secondary credit 57 - 29 + 57 250

Seasonal credit 101 + 6 - 94 97

Primary dealer credit facility 0 - 1,738 0 0

Other credit extensions 0 0 0 0

Net portfolio holdings of Maiden Lane LLC5 28,900 - 916 + 28,900 28,944

Float -1,361 + 157 - 1,358 -1,566

Other Federal Reserve assets 105,031 - 833 + 64,845 105,382

Gold stock 11,041 0 0 11,041

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

Treasury currency outstanding6 38,875 + 14 + 349 38,875

Total factors supplying reserve funds 939,982 - 2,149 + 34,315 934,158

Currency in circulation6 833,093 + 6,335 + 15,767 832,959

Reverse repurchase agreements7 42,984 + 807 + 11,260 41,276

Foreign official and international accounts 42,984 + 807 + 11,260 41,276

Dealers 0 0 0 0

Treasury cash holdings 275 - 3 - 38 280

Deposits with F.R. Banks, other than reserve balances 12,729 + 249 + 1,032 11,877

U.S. Treasury, general account 5,180 + 138 + 268 4,355

Foreign official 100 - 29 + 5 100

Service-related 7,195 + 142 + 764 7,195

Required clearing balances 7,195 + 142 + 764 7,195

Adjustments to compensate for float 0 0 0 0

Other 254 - 2 - 5 227

Other liabilities and capital8 44,348 - 2,125 + 4,909 43,969

Total factors, other than reserve balances,

absorbing reserve funds 933,430 + 5,264 + 32,930 930,362

Reserve balances with Federal Reserve Banks 6,553 - 7,412 + 1,386 3,796

FEDERAL RESERVE statistical release

 July 10, 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 9, 2008 Week ended

 Jul 9, 2008 Jul 2, 2008 Jul 11, 2007
Wednesday

 Jul 9, 2008

Holdings

 U.S. Treasury

securities2

Marketable securities held in custody for foreign

 official and international accounts1 2,350,038 + 4,385 + 361,055 2,348,900

U.S. Treasury 1,375,422 + 1,652 + 130,401 1,369,919

Federal agency 974,616 + 2,734 + 230,654 978,981

Securities lent to dealers 109,775 - 7,707 + 106,562 108,438

Overnight facility2 6,021 - 7,217 + 2,808 5,141

Term facility3 103,754 - 490 + 103,754 103,297

H.4.1

1A. Memorandum Items, July 9, 2008

Millions of dollars

Averages of daily figures

Week ended

 Jul 9, 2008

Change from week ended Wednesday

 Jul 9, 2008

 Jul 2, 2008 Jul 11, 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 9, 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

 75,000

 75,000

 ...

 ...

 ...

 ...

 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

 5,290

 8,042

 0

 ...

 ...

 ...

 13,332

 4,819

 40,250

 73,638

 173,492

 90,155

 96,597

 478,951

 + 1,410

 - 1,411

 + 6

 + 27

 + 19

 + 34

 + 85

 67,000

 40,000

 ...

 ...

 ...

 ...

 107,000

 41,276

 0

 ...

 ...

 ...

 ...

 41,276

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

 28,944

 28,820

 25

 1,153

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 26, 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 1,299 - 18 + 372

Securities, repurchase agreements, term auction

credit, and other loans 749,282 - 5,503 - 62,032

Securities held outright 478,951 + 85 - 311,655

U.S. Treasury1 478,951 + 85 - 311,655

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 5,648 + 85 + 1,191

Federal agency2 0 0 0

Repurchase agreements4 107,000 - 6,000 + 86,500

Term auction credit 150,000 0 + 150,000

Other loans 13,332 + 412 + 13,124

Net portfolio holdings of Maiden Lane LLC5 28,944 + 51 + 28,944

Items in process of collection (619) 1,668 + 434 - 5,035

Bank premises 2,154 0 + 108

Other assets6 103,244 - 876 + 64,273

Total assets (619) 899,829 - 5,910 + 26,631

Liabilities

Federal Reserve notes, net of F.R. Bank holdings 795,659 + 564 + 15,768

Reverse repurchase agreements7 41,276 + 185 + 9,980

Deposits (0) 15,693 - 5,037 - 317

Depository institutions 11,010 - 5,222 + 287

U.S. Treasury, general account 4,355 + 216 - 559

Foreign official 100 - 9 + 5

Other (0) 227 - 24 - 50

Deferred availability cash items (619) 3,231 - 162 - 3,882

Other liabilities and accrued dividends8,9 3,678 - 871 - 2,019

Total liabilities (619) 859,537 - 5,320 + 19,530

Capital accounts

Capital paid in 19,880 + 4 + 3,715

Surplus 18,493 0 + 3,094

Other capital accounts 1,918 - 594 + 291

Total capital 40,291 - 591 + 7,100

H.4.1

4. Consolidated Statement of Condition of All Federal Reserve Banks

Millions of dollars

Change since

Wednesday

 Jul 11, 2007

Eliminations from

consolidation Wednesday

 Jul 9, 2008

Wednesday

 Jul 2, 2008

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

 344 71 50 22,401 16,551 16,551 751 15,800 0 3,698 2,016 137 0 31 124 1,373 + 5,165 29,559

 913 212 161 57,158 42,272 42,272 1,919 40,353 0 9,444 4,350 1,092 0 188 208 5,122 +14,173 78,135

 1,221 166 153 64,896 47,655 47,655 2,163 45,492 0 10,646 6,390 205 0 111 226 8,192 +23,084 98,050

 891 147 162 66,687 43,430 43,430 1,971 41,459 0 9,703 13,479 75 0 230 203 25,043 - 8,514 84,848

 423 104 108 28,102 18,162 18,162 824 17,337 0 4,057 5,810 73 0 599 150 6,697 + 1,664 37,847

 424 115 36 26,077 20,089 20,089 912 19,177 0 4,488 1,500 0 0 104 119 5,577 + 4,949 37,400

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 1,299 749,282 478,951 478,951 21,740 457,211 0 107,000 150,000 13,332 28,944 2,287 2,154 103,244 0 900,448

 453 83 98 25,833 20,912 20,912 949 19,962 0 4,672 240 10 0 249 65 9,241 + 5,265 41,286

 3,935 874 55 309,982 170,408 170,408 7,735 162,673 0 38,070 92,305 9,200 28,944 0 212 28,232 -52,221 320,013

H.4.15. Statement of Condition of Each Federal Reserve Bank, July 9, 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.

 988,600 192,941 795,659 41,276 15,693 11,010 4,355 100 227 3,850 3,678 860,157 19,880 18,493 1,918 900,448

 37,390 4,749 32,641 1,731 773 771 0 2 1 289 137 35,573 764 1,050 13 37,400

 346,721 59,339 287,382 14,686 6,230 1,625 4,355 70 179 0 1,401 309,699 5,065 4,657 592 320,013

 40,740 6,744 33,997 1,802 438 434 0 4 0 481 150 36,868 2,335 1,814 269 41,286

 38,726 6,734 31,992 1,565 721 718 0 3 0 757 162 35,197 1,322 1,291 38 37,847

 80,763 12,408 68,355 3,743 1,745 1,702 0 11 32 275 381 74,499 5,178 4,998 172 84,848

 119,821 30,870 88,952 4,107 1,193 1,190 0 3 0 296 350 94,898 1,561 1,425 166 98,050

 83,074 12,522 70,552 3,643 790 788 0 2 0 279 276 75,540 1,280 815 499 78,135

 30,694 3,500 27,193 1,426 359 346 0 0 13 53 149 29,181 181 180 17 29,559

 17,8 2,7 15,1 7 3 3    2 1 16,5 3 3  17,2

H.4.15. Statement of Condition of Each Federal Reserve Bank, July 9, 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 9, 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.

 988,600 192,941 795,659 795,659 11,037 2,200 545,270 237,152 585,951 40,681 545,270