FEDERAL RESERVE statistical release

H.4.1
Factors Affecting Reserve Balances of Depository Institutions and
Condition Statement of Federal Reserve Banks
                                                                                           January 22, 2009
1. Factors Affecting Reserve Balances of Depository Institutions
Millions of dollars
Reserve Bank credit, related items, and                            Averages of daily figures
reserve balances of depository institutions at            Week ended   Change from week ended     Wednesday
Federal Reserve Banks                                    Jan 21, 2009 Jan 14, 2009 Jan 23, 2008 Jan 21, 2009

Reserve Bank credit                                       2,049,246   -   19,936   +1,187,606    2,022,600
  Securities held outright                                  505,323   +    7,834   -  217,975      505,470       
    U.S. Treasury securities (1)                            475,381   -      208   -  247,917      475,322
      Bills (2)                                              18,423            0   -  191,937       18,423
      Notes and bonds, nominal (2)                          412,914   +    2,423   -   58,070      412,914
      Notes and bonds, inflation-indexed (2)                 39,378   -    1,693   +    1,915       39,378
      Inflation compensation (3)                              4,667   -      937   +      176        4,608
    Federal agency debt securities (2)                       24,158   +    3,800   +   24,158       24,158
    Mortgage-backed securities (4)                            5,784   +    4,242   +    5,784        5,991
  Repurchase agreements (5)                                  37,143   -   20,000   +   15,643       20,000
  Term auction credit                                       416,031   +   44,644   +  366,031      416,031  
  Other loans                                               148,298   -   12,425   +  147,546      149,324
    Primary credit                                           61,618   -    7,483   +   60,874       62,898
    Secondary credit                                             74   +       33   +       74           28
    Seasonal credit                                               1   +        1   -        7            1
    Primary dealer and other broker-dealer credit (6)        32,679   -    1,011   +   32,679       33,290
    Asset-backed Commercial Paper Money Market
      Mutual Fund Liquidity Facility                         15,482   -    3,285   +   15,482       14,775
    Credit extended to American International
      Group, Inc. (7)                                        38,445   -      679   +   38,445       38,333
    Other credit extensions                                       0            0            0            0
  Net portfolio holdings of Commercial Paper 
    Funding Facility LLC (8)                                349,940   +   15,358   +  349,940      350,524
  Net portfolio holdings of LLCs funded through
    the Money Market Investor Funding Facility (9)                0            0            0            0
  Net portfolio holdings of Maiden Lane LLC (10)             27,131   +       61   +   27,131       27,181
  Net portfolio holdings of Maiden Lane II LLC (11)          19,802   +        7   +   19,802       19,813
  Net portfolio holdings of Maiden Lane III LLC (12)         26,946   +       57   +   26,946       26,967
  Float                                                      -1,550   -      158   -      269       -2,711
  Other Federal Reserve assets                              520,184   -   55,313   +  452,814      510,002
Gold stock                                                   11,041            0            0       11,041
Special drawing rights certificate account                    2,200            0            0        2,200
Treasury currency outstanding (13)                           38,772   +       14   +       92       38,772
       
Total factors supplying reserve funds                     2,101,259   -   19,922   +1,187,698    2,074,613

Note: Components may not sum to totals because of rounding.  Footnotes appear on the following page.


1. Factors Affecting Reserve Balances of Depository Institutions, continued
Millions of dollars
Reserve Bank credit, related items, and                            Averages of daily figures
reserve balances of depository institutions at            Week ended   Change from week ended     Wednesday
Federal Reserve Banks                                    Jan 21, 2009 Jan 14, 2009 Jan 23, 2008 Jan 21, 2009

Currency in circulation (13)                                882,313   +    1,196   +   70,265      884,900
Reverse repurchase agreements (14)                           76,254   -    5,443   +   36,549       75,025
  Foreign official and international accounts                76,254   -    5,443   +   36,549       75,025
  Dealers                                                         0            0            0            0
Treasury cash holdings                                          274   +        6   -       14          286
Deposits with F.R. Banks, other than reserve balances       241,334   -    5,752   +  228,894      256,897       
  U.S. Treasury, general account                             35,510   -    1,316   +   30,175       46,705
  U.S. Treasury, supplementary financing account            199,747   +       61   +  199,747      199,747
  Foreign official                                              191   -       34   +       89          187
  Service-related                                             4,401   +       14   -    2,278        4,401
    Required clearing balances                                4,401   +       14   -    2,278        4,401
    Adjustments to compensate for float                           0            0            0            0
  Other                                                       1,485   -    4,477   +    1,160        5,857
Other liabilities and capital (15)                           57,869   -    5,520   +   15,318       53,580

Total factors, other than reserve balances,                                        
   absorbing reserve funds                                1,258,042   -   15,516   +  351,009    1,270,688

Reserve balances with Federal Reserve Banks                 843,217   -    4,407   +  836,688      803,925
                                                                
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. Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae.  Current face value of the securities, which is 
   the remaining principal balance of the underlying mortgages.  
5. Cash value of agreements.
6. Includes credit extended through the Primary Dealer Credit Facility and credit extended to certain
   other broker-dealers.
7. Excludes credit extended to consolidated LLCs.
8. Refer to table 6 and the note on consolidation accompanying table 9.
9. Refer to table 7 and the note on consolidation accompanying table 9.
10. Refer to table 3 and the note on consolidation accompanying table 9.
11. Refer to table 4 and the note on consolidation accompanying table 9.
12. Refer to table 5 and the note on consolidation accompanying table 9.
13. Estimated.
14. Cash value of agreements, which are collateralized by U.S. Treasury securities.
15. 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.


1A. Memorandum Items 
Millions of dollars
                                                                   Averages of daily figures
Memorandum item                                           Week ended   Change from week ended     Wednesday
                                                         Jan 21, 2009 Jan 14, 2009 Jan 23, 2008 Jan 21, 2009

Marketable securities held in custody for foreign
      official and international accounts (1)             2,541,299   +   13,316   +  445,532    2,541,396
  U.S. Treasury securities                                1,735,051   +   19,917   +  483,949    1,734,876
  Federal agency securities (2)                             806,248   -    6,601   -   38,417      806,520
Securities lent to dealers                                  140,802   +       33   +  130,369      141,072   
  Overnight facility (3)                                      7,702   -      188   -    2,731        7,972
  Term facility (4)                                         133,100   +      221   +  133,100      133,100

Note: Components may not sum to totals because of rounding.

1. Face value of the securities.  Includes U.S. Treasury STRIPS, other zero-coupon bonds, and mortgage-backed 
   securities at face value.
2. Includes debt and mortgage-backed securities.
3. Fully collateralized by U.S. Treasury securities.
4. Fully collateralized by U.S. Treasury securities, federal agency securities, and other highly rated debt
   securities.


2. Maturity Distribution of Term Auction Credit, Other Loans, and Securities,   January 21, 2009
Millions of dollars

Remaining maturity                 Within 15  16 days to  91 days to  Over 1 year  Over 5 years  Over 10       All
                                      days     90 days      1 year     to 5 years   to 10 years   years 
Term auction credit                  138,899     277,132         ---          ---           ---        ---     416,031
Other loans (1)                       92,566      18,425            0      38,333           ---        ---     149,324
U.S. Treasury securities (2) 
  Holdings                            15,456      21,090       66,655     173,147        97,383    101,591     475,322
  Weekly changes                  -    5,019  +    1,488   +    3,325  -      826    +      921 -       81  -      193
Federal agency debt securities (3) 
  Holdings                               643       2,638        1,044      14,324         5,509          0      24,158
  Weekly changes                  +      150  -      150   +       68  -       68             0          0           0
Mortgage-backed securities (4)    
  Holdings                                 0           0            0           0             0      5,991       5,991
  Weekly changes                           0           0            0           0             0 +      357  +      357
Commercial paper held by
  Commercial Paper Funding 
  Facility LLC (5)                   248,227     102,025            0         ---           ---        ---     350,252
Money market instruments held by
  LLCs funded through the Money
  Market Investor Funding
  Facility (6)                             0           0            0         ---           ---        ---           0
Repurchase agreements (7)             20,000           0          ---         ---           ---        ---      20,000

Reverse repurchase agreements (7)     75,025           0          ---         ---           ---        ---      75,025
  
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. Face value.  For inflation-indexed securities, includes the original face value and compensation that adjusts for 
   the effect of inflation on the original face value of such securities.
3. Face value.
4. Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae.  Current face value of the securities, which is the remaining 
   principal balance of the underlying mortgages.
5. Face value of commercial paper held by Commercial Paper Funding Facility LLC.
6. Face value of money market instruments held by LLCs funded through the Money Market Investor Funding Facility.
7. Cash value of agreements.


3. Information on Principal Accounts of Maiden Lane LLC
Millions of dollars
                                                                                                  Wednesday
Account name                                                                                    Jan 21, 2009
         
Net portfolio holdings of Maiden Lane LLC (1)                                                       27,181

Outstanding principal amount of loan extended by the Federal Reserve Bank of New York (2)           28,820
Accrued interest payable to the Federal Reserve Bank of New York (2)                                   276
Outstanding principal amount and accrued interest on loan payable to JPMorgan Chase & Co. (3)        1,191
 
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.



4. Information on Principal Accounts of Maiden Lane II LLC
Millions of dollars
                                                                                                   Wednesday
Account name                                                                                     Jan 21, 2009

Net portfolio holdings of Maiden Lane II LLC (1)                                                     19,813

Outstanding principal amount of loan extended by the Federal Reserve Bank of New York (2)            19,169
Accrued interest payable to the Federal Reserve Bank of New York (2)                                     44
Deferred payment and accrued interest payable to subsidiaries of American International 
  Group, Inc. (3)                                                                                     1,005

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.


5. Information on Principal Accounts of Maiden Lane III LLC
Millions of dollars
                                                                                                   Wednesday
Account name                                                                                     Jan 21, 2009

Net portfolio holdings of Maiden Lane III LLC (1)                                                    26,967

Outstanding principal amount of loan extended by the Federal Reserve Bank of New York (2)            24,339
Accrued interest payable to the Federal Reserve Bank of New York (2)                                     66
Outstanding principal amount and accrued interest on loan payable to American International
  Group, Inc. (3)                                                                                     5,032

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.


6. Information on Principal Accounts of Commercial Paper Funding Facility LLC
Millions of dollars
                                                                                                   Wednesday
Account name                                                                                     Jan 21, 2009

Commercial paper holdings, net (1)                                                                  349,239
Other investments, net                                                                                1,285
Net portfolio holdings of Commercial Paper Funding Facility LLC                                     350,524

Memorandum: Commercial paper holdings, face value                                                   350,252

Outstanding principal amount of loan extended by the Federal Reserve Bank of New York (2)           348,176
Accrued interest payable to the Federal Reserve Bank of New York (2)                                    847

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. dollar-denominated commercial paper from eligible issuers 
and thereby foster liquidity in short-term funding markets and increase the availability of credit for 
businesses and households.


7. Information on Principal Accounts of LLCs Funded through the Money Market Investor Funding Facility 
Millions of dollars
                                                                                                   Wednesday
Account name                                                                                     Jan 21, 2009

Money market instrument holdings, net (1)                                                                 0
Other investments, net                                                                                    0
Net portfolio holdings of LLCs funded through the Money Market Investor Funding Facility                  0

Memorandum: Money market instrument holdings, face value                                                  0

Outstanding principal amount of loan extended by the Federal Reserve Bank of New York (2)                 0
Accrued interest payable to the Federal Reserve Bank of New York (2)                                      0
Commercial paper issued by LLCs funded through the Money Market Investor Funding Facility, 
  net of related discounts                                                                                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:  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 (MMIFF).  The MMIFF became operational on November 24, 2008.  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.


8. Consolidated Statement of Condition of All Federal Reserve Banks
Millions of dollars
                                                 Eliminations                          Change since
                                                     from       Wednesday        Wednesday        Wednesday
Assets, liabilities, and capital                consolidation Jan 21, 2009     Jan 14, 2009     Jan 23, 2008

Assets
Gold certificate account                                           11,037                0                0
Special drawing rights certificate account                          2,200                0                0
Coin                                                                1,789       +       45       +      495
Securities, repurchase agreements, term auction
      credit, and other loans                                   1,090,825       +   18,976       +  295,490
  Securities held outright                                        505,470       +      164       -  217,845
    U.S. Treasury securities (1)                                  475,322       -      193       -  247,993       
      Bills (2)                                                    18,423                0       -  191,937
      Notes and bonds, nominal (2)                                412,914       +    2,423       -   58,070
      Notes and bonds, inflation-indexed (2)                       39,378       -    1,693       +    1,915
      Inflation compensation (3)                                    4,608       -      921       +      100
    Federal agency debt securities (2)                             24,158                0       +   24,158
    Mortgage-backed securities (4)                                  5,991       +      357       +    5,991
  Repurchase agreements (5)                                        20,000       -   20,000       -    2,000    
  Term auction credit                                             416,031       +   44,734       +  366,031
  Other loans                                                     149,324       -    5,921       +  149,304
Net portfolio holdings of Commercial Paper 
  Funding Facility LLC (6)                                        350,524       +   15,819       +  350,524
Net portfolio holdings of LLCs funded through
  the Money Market Investor Funding Facility (7)                        0                0                0
Net portfolio holdings of Maiden Lane LLC (8)                      27,181       +       59       +   27,181
Net portfolio holdings of Maiden Lane II LLC (9)                   19,813       +       13       +   19,813
Net portfolio holdings of 
  Maiden Lane III LLC (10)                                         26,967       +       25       +   26,967
Items in process of collection                         (643)        1,563       +      291       -    1,125
Bank premises                                                       2,184       +        1       +       47
Other assets (11)                                                 507,791       -   51,799       +  442,570
     
      Total assets                                     (643)    2,041,874       -   16,570       +1,161,962

Note: Components may not sum to totals because of rounding.  Footnotes appear on the following page.


8. Consolidated Statement of Condition of All Federal Reserve Banks (continued)
Millions of dollars
                                                 Eliminations                          Change since
                                                     from       Wednesday        Wednesday        Wednesday
Assets, liabilities, and capital                consolidation Jan 21, 2009     Jan 14, 2009     Jan 23, 2008
                         
Liabilities
Federal Reserve notes, net of F.R. Bank holdings                  848,198       +    4,126       +   73,486
Reverse repurchase agreements (12)                                 75,025       -    3,811       +   37,530
Deposits                                                 (0)    1,060,796       -   15,182       +1,039,541       
  Depository institutions                                         808,299       -   19,210       +  792,315
  U.S. Treasury, general account                                   46,705       +   15,532       +   41,834
  U.S. Treasury, supplementary financing account                  199,747       +       61       +  199,747
  Foreign official                                                    187       -       24       +       90
  Other                                                  (0)        5,857       -   11,542       +    5,553
Deferred availability cash items                       (643)        4,274       +    1,416       +       41
Other liabilities and accrued dividends (13,14)                    11,820       -    2,480       +    7,349

      Total liabilities                                (643)    2,000,114       -   15,931       +1,157,947
                          
Capital accounts
Capital paid in                                                    21,514       +      432       +    3,049
Surplus                                                            19,413       -    1,498       +      969
Other capital accounts                                                834       +      428       -        2

      Total capital                                                41,760       -      640       +    4,015

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. Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae.  Current face value of the securities, which is 
   the remaining principal balance of the underlying mortgages. 
5. Cash value of agreements, which are collateralized by U.S. Treasury and federal agency securities.
6. Refer to table 6 and the note on consolidation accompanying table 9.
7. Refer to table 7 and the note on consolidation accompanying table 9.
8. Refer to table 3 and the note on consolidation accompanying table 9.
9. Refer to table 4 and the note on consolidation accompanying table 9.
10. Refer to table 5 and the note on consolidation accompanying table 9.
11. Includes assets denominated in foreign currencies and any exchange-translation assets, which are
    revalued daily at market exchange rates. 
12. Cash value of agreements, which are collateralized by U.S. Treasury securities.
13. Includes any exchange-translation liabilities, which are revalued daily at market exchange rates.
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. 


9. Statement of Condition of Each Federal Reserve Bank,   January 21, 2009
Millions of dollars
                                                                                                                                                            Kansas                 San
Assets, liabilities, and capital               Total     Boston   New York Philadelphia Cleveland   Richmond   Atlanta    Chicago   St. Louis  Minneapolis   City      Dallas   Francisco

Assets                        
Gold certificate account                      11,037        424      3,935        453        423        891      1,221        913        344        199        349        636      1,249
Special drawing rights certificate acct.       2,200        115        874         83        104        147        166        212         71         30         66         98        234
Coin                                           1,789         59         79        145        147        245        227        205         47         58        122        189        266
Securities, repurchase agreements, term
      auction credit, and other loans      1,090,825     49,757    520,044     64,906     30,492    126,491     66,934     53,858     21,690     15,884     23,321     27,596     89,851
  Securities held outright                   505,470     21,201    179,843     22,070     19,167     45,835     50,293     44,613     17,467      9,543     18,560     20,967     55,911
    U.S. Treasury securities (1)             475,322     19,937    169,117     20,753     18,024     43,101     47,294     41,952     16,425      8,974     17,453     19,717     52,576
      Bills (2)                               18,423        773      6,555        804        699      1,671      1,833      1,626        637        348        676        764      2,038
      Notes and bonds (3)                    456,899     19,164    162,562     19,949     17,325     41,431     45,461     40,326     15,789      8,626     16,776     18,953     50,538
    Federal agency debt securities (2)        24,158      1,013      8,595      1,055        916      2,191      2,404      2,132        835        456        887      1,002      2,672
    Mortgage-backed securities (4)             5,991        251      2,131        262        227        543        596        529        207        113        220        248        663
  Repurchase agreements (5)                   20,000        839      7,116        873        758      1,814      1,990      1,765        691        378        734        830      2,212
  Term auction credit                        416,031     12,650    207,683     41,750     10,552     78,208     14,296      5,219      3,038      5,700      2,685      4,708     29,543     
  Other loans                                149,324     15,067    125,402        214         14        634        355      2,262        493        264      1,342      1,091      2,185
Net portfolio holdings of Commercial
  Paper Funding Facility LLC (6)             350,524          0    350,524          0          0          0          0          0          0          0          0          0          0
Net portfolio holdings of LLCs funded
  through the Money Market Investor
  Funding Facility (7)                             0          0          0          0          0          0          0          0          0          0          0          0          0
Net portfolio holdings of Maiden Lane 
  LLC (8)                                     27,181          0     27,181          0          0          0          0          0          0          0          0          0          0
Net portfolio holdings of Maiden
  Lane II LLC (9)                             19,813          0     19,813          0          0          0          0          0          0          0          0          0          0
Net portfolio holdings of Maiden
  Lane III LLC (10)                           26,967          0     26,967          0          0          0          0          0          0          0          0          0          0
Items in process of collection                 2,206        120          0        336        232         56        261        262         44        110         65        397        324
Bank premises                                  2,184        124        210         65        147        228        225        207        130        112        273        250        212
Other assets (11)                            507,791     28,719    128,810     49,051     35,001    134,611     39,443     23,167      5,362      9,759      5,773     10,373     37,721
Interdistrict settlement account                   0  -  16,883  +   9,390  -  60,391  +  18,603  -  64,867  +  27,347  +  27,740  +   7,078  -   7,493  +   6,968  +   7,545  +  44,965

      Total assets                         2,042,517     62,435  1,087,828     54,648     85,149    197,802    135,823    106,563     34,766     18,658     36,938     47,085    174,822

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 securities.
4. Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae.  Current face value of the securities, which is the remaining principal balance of the underlying mortgages. 
5. Cash value of agreements, which are collateralized by U.S. Treasury and federal agency securities.
6. Refer to table 6 and the note on consolidation on the following page.
7. Refer to table 7 and the note on consolidation on the following page.
8. Refer to table 3 and the note on consolidation on the following page.
9. Refer to table 4 and the note on consolidation on the following page.
10. Refer to table 5 and the note on consolidation on the following page.
11. Includes assets denominated in foreign currencies and any exchange-translation assets, which are revalued daily at market exchange rates.


9. Statement of Condition of Each Federal Reserve Bank,   January 21, 2009 (continued)
Millions of dollars
                                                                                                                                                            Kansas                 San
Assets, liabilities, and capital                Total     Boston   New York Philadelphia Cleveland   Richmond   Atlanta    Chicago   St. Louis  Minneapolis   City      Dallas   Francisco

Liabilities                         
Federal Reserve notes outstanding           1,024,646     38,062    358,244     41,162     46,328     80,648    129,859     83,737     29,252     17,501     29,749     57,596    112,510
  Less: Notes held by F.R. Banks              176,447      5,950     43,317      5,696      8,294     12,801     25,055     14,454      3,923      3,122      3,804     21,436     28,595
    Federal Reserve notes, net                848,198     32,112    314,927     35,466     38,033     67,846    104,803     69,283     25,329     14,379     25,945     36,160     83,915
Reverse repurchase agreements (12)             75,025      3,147     26,694      3,276      2,845      6,803      7,465      6,622      2,593      1,416      2,755      3,112      8,299
Deposits                                    1,060,796     25,172    725,870     10,343     40,355    110,568     19,608     28,351      6,114      1,771      7,455      6,647     78,543
  Depository institutions                     808,299     25,159    473,562     10,335     40,350    110,424     19,605     28,347      6,108      1,770      7,453      6,646     78,540
  U.S. Treasury, general account               46,705          0     46,705          0          0          0          0          0          0          0          0          0          0
  U.S. Treasury, supplementary
    financing account                         199,747          0    199,747          0          0          0          0          0          0          0          0          0          0
  Foreign official                                187          2        157          4          3         11          3          2          0          1          0          1          3
  Other                                         5,857         10      5,699          4          2        134          0          1          5          0          1          0          0
Deferred availability cash items                4,918        153          0        777        666        328        364        593        160        333        249        441        855
Other liabilities and accrued                 
  dividends (13,14)                            11,820        151      9,452        168        169        406        340        293        149        102        118        175        296
   
      Total liabilities                     2,000,757     60,734  1,076,943     50,029     82,067    185,951    132,580    105,142     34,344     18,001     36,521     46,536    171,908
                              
Capital                    
Capital paid in                                21,514        845      6,030      2,315      1,552      5,981      1,612        705        210        335        208        271      1,449
Surplus                                        19,413        844      4,091      2,304      1,529      5,870      1,612        703        210        322        208        271      1,449
Other capital                                     834         11        764          0          0          0         19         13          2          0          1          7         16

      Total liabilities and capital         2,042,517     62,435  1,087,828     54,648     85,149    197,802    135,823    106,563     34,766     18,658     36,938     47,085    174,822
                              
Note: Components may not sum to totals because of rounding.

12. Cash value of agreements, which are collateralized by U.S. Treasury securities.
13. Includes any exchange-translation liabilities, which are revalued daily at market exchange rates.
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 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 Federal Reserve Act. On June 26, 2008, 
a loan was 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 Commercial Paper Funding 
Facility LLC, which was formed to purchase three-month U.S. dollar-denominated commercial paper from eligible issuers. On October 21, 2008, the Federal Reserve Board authorized the FRBNY 
to extend credit to a series of LLCs funded through the Money Market Investor Funding Facility.  These LLCs, which became operational on November 24, 2008, were established to purchase 
short-term U.S. dollar-denominated certificates of deposit, bank notes, and commercial paper from 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 which the Financial Products group of the American International Group, Inc. has written credit default swap 
contracts.  On December 12, 2008, a loan was extended to Maiden Lane II LLC, which was formed to purchase residential mortgage-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 accepted accounting principles, 
the assets 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 this release.  As a 
consequence of the 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 table 1 and 
table 8), and the liabilities 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 table (and table 1 and table 8).


10. Collateral Held against Federal Reserve Notes: Federal Reserve Agents' Accounts
Millions of dollars

Federal Reserve notes and collateral                                                              Wednesday
                                                                                                Jan 21, 2009
              
Federal Reserve notes outstanding                                                                1,024,646
  Less: Notes held by F.R. Banks not subject to collateralization                                  176,447
    Federal Reserve notes to be collateralized                                                     848,198 
Collateral held against Federal Reserve notes                                                      848,198
  Gold certificate account                                                                          11,037
  Special drawing rights certificate account                                                         2,200
  U.S. Treasury, agency debt, and mortgage-backed securities pledged (1)                           458,187
  Other assets pledged                                                                             376,775

Memo:
Total U.S. Treasury, agency debt, and mortgage-backed securities (1)                               525,470
  Less: Face value of securities under reverse repurchase agreements                                67,284
    U.S. Treasury, agency debt, and mortgage-backed securities
    eligible to be pledged                                                                         458,187
   
Note: Components may not sum to totals because of rounding.

1. Includes face value of U.S. Treasury, agency debt, and mortgage-backed securities held outright, 
   compensation to adjust for the effect of inflation on the original face value of inflation-indexed 
   securities, and cash value of repurchase agreements.