---

`FEDERAL RESERVE statistical release H.4.1Factors Affecting Reserve Balances of Depository Institutions andCondition Statement of Federal Reserve Banks                                                                                          December 29, 20081. Factors Affecting Reserve Balances of Depository InstitutionsMillions of dollars`

|reserve balances of depository institutions at         Federal Reserve Banks                                  Reserve Bank credit, related items, and | Averages of daily figures | Wednesday Dec 24, 2008
|----------------------------------------------------------------------------------------------------------------------------------------------------- | ------------------------- | ----------------------
|
|
|                                                                                                                                                      |                           |                       
|2,207,272                                                                                                                                             | -   46,466                | +1,333,775            
|495,994                                                                                                                                               | +    3,229                | -  258,611            
|476,067                                                                                                                                               | -      111                | -  278,538            
|18,423                                                                                                                                                | 0                         | -  223,433            
|410,491                                                                                                                                               | 0                         | -   60,493            
|41,071                                                                                                                                                | 0                         | +    4,160            
|6,082                                                                                                                                                 | -      110                | +    1,227            
|19,927                                                                                                                                                | +    3,340                | +   19,927            
|80,000                                                                                                                                                | 0                         | +   40,464            
|420,806                                                                                                                                               | -   27,153                | +  400,806            
|196,868                                                                                                                                               | -   15,657                | +  192,040            
|86,260                                                                                                                                                | -    2,147                | +   81,458            
|51                                                                                                                                                    | +       48                | +       51            
|3                                                                                                                                                     | +        1                | -       23            
|45,679                                                                                                                                                | -    4,814                | +   45,679            
|                                                                                                                                                      |                           |                       
|24,858                                                                                                                                                | -    4,416                | +   24,858            
|                                                                                                                                                      |                           |                       
|40,018                                                                                                                                                | -    4,329                | +   40,018            
|0                                                                                                                                                     | 0                         | 0                     
|                                                                                                                                                      |                           |                       
|325,796                                                                                                                                               | +   10,529                | +  325,796            
|                                                                                                                                                      |                           |                       
|0                                                                                                                                                     | 0                         | 0                     
|26,918                                                                                                                                                | +       26                | +   26,918            
|20,033                                                                                                                                                | +    2,514                | +   20,033            
|28,085                                                                                                                                                | +    8,477                | +   28,085            
|-1,167                                                                                                                                                | -      138                | -      254            
|613,939                                                                                                                                               | -   28,294                | +  558,497            
|11,041                                                                                                                                                | 0                         | 0                     
|2,200                                                                                                                                                 | 0                         | 0                     
|38,843                                                                                                                                                | +       14                | +      141            
|                                                                                                                                                      |                           |                       
|2,259,356                                                                                                                                             | -   46,452                | +1,333,916            

`Note: Components may not sum to totals because of rounding.  Footnotes appear on the following page.  1. Factors Affecting Reserve Balances of Depository Institutions, continuedMillions of dollars`

|Reserve Bank credit, related items, and                reserve balances of depository institutions at         Federal Reserve Banks | Averages of daily figures | Wednesday Dec 24, 2008
|----------------------------------------------------------------------------------------------------------------------------------- | ------------------------- | ----------------------
|
|
|                                                                                                                                    |                           |                       
|881,463                                                                                                                             | +    6,162                | +   55,946            
|87,758                                                                                                                              | -    5,442                | +   48,638            
|87,758                                                                                                                              | +   15,987                | +   48,638            
|0                                                                                                                                   | -   21,429                | 0                     
|233                                                                                                                                 | +        6                | -       15            
|425,657                                                                                                                             | -   29,092                | +  413,753            
|125,933                                                                                                                             | +   46,301                | +  121,023            
|289,247                                                                                                                             | -   74,930                | +  289,247            
|644                                                                                                                                 | +      406                | +      547            
|4,414                                                                                                                               | -      205                | -    2,200            
|4,385                                                                                                                               | -      207                | -    2,229            
|29                                                                                                                                  | +        2                | +       29            
|5,418                                                                                                                               | -      665                | +    5,135            
|79,640                                                                                                                              | -    2,434                | +   36,808            
|                                                                                                                                    |                           |                       
|                                                                                                                                    |                           |                       
|1,474,750                                                                                                                           | -   30,801                | +  555,130            
|                                                                                                                                    |                           |                       
|784,607                                                                                                                             | -   15,650                | +  778,787            

`Note: Components may not sum to totals because of rounding. 1. Includes securities lent to dealers under the overnight and term securities lending facilities; refer   to table 1A.  2. Face value of the securities. 3. Compensation that adjusts for the effect of inflation on the original face value of inflation-indexed   securities. 4. Cash value of agreements.5. Includes credit extended through the Primary Dealer Credit Facility and credit extended to certain   other broker-dealers.6. Excludes credit extended to consolidated LLCs.7. Refer to table 6 and the note on consolidation accompanying table 9.8. Refer to table 7 and the note on consolidation accompanying table 9.9. Refer to table 3 and the note on consolidation accompanying table 9.10. Refer to table 4 and the note on consolidation accompanying table 9.11. Refer to table 5 and the note on consolidation accompanying table 9.12. Estimated.13. Cash value of agreements, which are collateralized by U.S. Treasury securities.14. Includes the liabilities of Commercial Paper Funding Facility LLC, the LLCs funded through the Money     Market Investor Funding Facility, Maiden Lane LLC, Maiden Lane II LLC, and Maiden Lane III LLC to     entities other than the Federal Reserve Bank of New York, including liabilities that have recourse only     to the portfolio holdings of these LLCs.  Refer to table 3 through table 7 and the note on consolidation     accompanying table 9. Sources: Federal Reserve Banks and the U.S. Department of the Treasury.  1A. Memorandum Items Millions of dollars`

|Memorandum item | Averages of daily figures | Wednesday Dec 24, 2008
|--------------- | ------------------------- | ----------------------
|
|
|                |                           |                       
|                |                           |                       
|2,509,692       | +   11,487                | +  453,281            
|1,684,697       | +   28,134                | +  458,513            
|824,995         | -   16,647                | -    5,232            
|184,566         | -    2,580                | +  170,436            
|6,970           | +    1,398                | -    7,160            
|177,596         | -    3,979                | +  177,596            

`Note: Components may not sum to totals because of rounding. 1. Face value of the securities.  Includes U.S. Treasury STRIPS and other zero-coupon bonds at face value.2. Fully collateralized by U.S. Treasury securities.3. Fully collateralized by U.S. Treasury securities, federal agency securities, and other highly rated debt   securities.  2. Maturity Distribution of Term Auction Credit, Other Loans, and Securities,  December 24, 2008Millions of dollars`

|Remaining maturity | 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
|------------------ | ------------------ | -------------------- | -------------------- | ----------------------- | ------------------------ | ------------------ | ---
|181,796            | 268,423            | ---                  | ---                  | ---                     | ---                      | 450,219           
|112,162            | 34,961             | 0                    | 39,507               | ---                     | ---                      | 186,630           
|                   |                    |                      |                      |                         |                          |                   
|17,301             | 22,980             | 64,478               | 172,038              | 97,345                  | 101,871                  | 476,014           
|+    2,765         | -    2,773         | 0                    | -       38           | -       28              | -       50               | -      124        
|                   |                    |                      |                      |                         |                          |                   
|1,620              | 3,281              | 976                  | 11,361               | 3,640                   | 0                        | 20,878            
|-    3,324         | +      221         | -      671           | +    5,624           | +    1,407              | 0                        | +    3,257        
|                   |                    |                      |                      |                         |                          |                   
|                   |                    |                      |                      |                         |                          |                   
|0                  | 332,125            | 0                    | ---                  | ---                     | ---                      | 332,125           
|                   |                    |                      |                      |                         |                          |                   
|                   |                    |                      |                      |                         |                          |                   
|                   |                    |                      |                      |                         |                          |                   
|0                  | 0                  | 0                    | ---                  | ---                     | ---                      | 0                 
|40,000             | 40,000             | ---                  | ---                  | ---                     | ---                      | 80,000            
|                   |                    |                      |                      |                         |                          |                   
|88,317             | 0                  | ---                  | ---                  | ---                     | ---                      | 88,317            

`Note: Components may not sum to totals because of rounding.---   Not applicable. 1. Excludes the loans from the Federal Reserve Bank of New York (FRBNY) to Commercial Paper Funding Facility LLC, the    LLCs funded through the Money Market Investor Funding Facility, Maiden Lane LLC, Maiden Lane II LLC, and Maiden    Lane III LLC.  The loans were eliminated when preparing the FRBNY's statement of condition consistent with    consolidation under generally accepted accounting principles.2. Includes the original face value of inflation-indexed securities and compensation that adjusts for the effect of    inflation on the original face value of such securities. 3. Face value of commercial paper held by Commercial Paper Funding Facility LLC.4. Face value of money market instruments held by LLCs funded through the Money Market Investor Funding Facility.5. Cash value of agreements.  3. Information on Principal Accounts of Maiden Lane LLCMillions of dollars`

|Account name | Wednesday    Dec 24, 2008
|------------ | -------------------------
|            
|26,966      
|            
|28,820      
|265         
|1,187       

`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 revaluation 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 LLCMillions of dollars`

|Account name | Wednesday    Dec 24, 2008
|------------ | -------------------------
|            
|20,049      
|            
|19,494      
|20          
|            
|1,002       

`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 revaluation 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 AIG subsidiaries 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 LLCMillions of dollars`

|Account name | Wednesday    Dec 24, 2008
|------------ | -------------------------
|            
|28,191      
|            
|24,339      
|36          
|            
|5,019       

`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 revaluation 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 LLCMillions of dollars`

|Account name | Wednesday    Dec 24, 2008
|------------ | -------------------------
|            
|330,353     
|1,332       
|331,686     
|            
|332,125     
|            
|330,125     
|545         

`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`

|Account name | Wednesday    Dec 24, 2008
|------------ | -------------------------
|            
|0           
|0           
|0           
|            
|0           
|            
|0           
|0           
|            
|0           

`1. Book value, which includes amortized cost.2. Book value.  This amount was eliminated when preparing the Federal Reserve Bank of New York's statement of    condition consistent with consolidation under generally accepted accounting principles.  Refer to the note    on consolidation accompanying table 9. Note: On November 24, 2008, the Federal Reserve Board authorized the Federal Reserve Bank of New York to extend credit under the authority of section 13(3) of the Federal Reserve Act to a series of limited liability companies funded through the Money Market Investor Funding Facility.  These limited liability companies were established to purchase short-term U.S. dollar-denominated certificates of deposit, bank notes, and outstanding asset-backed commercial paper from eligible issuers.  Such purchases are designed to foster liquidity in short-term money markets.  8. Consolidated Statement of Condition of All Federal Reserve BanksMillions of dollars`

|Assets, liabilities, and capital | Eliminationsfromconsolidation |            | Change since
|-------------------------------- | ----------------------------- | ---------- | ------------
|
|                                 |                               |            |             
|                                 | 11,037                        | 0          | 0           
|                                 | 2,200                         | 0          | 0           
|                                 | 1,680                         | +        3 | +      507  
|                                 |                               |            |             
|                                 | 1,213,741                     | -   14,521 | +  392,094  
|                                 | 496,892                       | +    3,133 | -  257,720  
|                                 | 476,014                       | -      124 | -  278,598  
|                                 | 18,423                        | 0          | -  223,433  
|                                 | 410,491                       | 0          | -   60,493  
|                                 | 41,071                        | 0          | +    4,160  
|                                 | 6,029                         | -      123 | +    1,167  
|                                 | 20,878                        | +    3,257 | +   20,878  
|                                 | 80,000                        | 0          | +   37,500  
|                                 | 450,219                       | +    2,260 | +  430,219  
|                                 | 186,630                       | -   19,914 | +  182,095  
|                                 |                               |            |             
|                                 | 331,686                       | +   12,843 | +  331,686  
|                                 |                               |            |             
|                                 | 0                             | 0          | 0           
|                                 | 26,966                        | +       56 | +   26,966  
|                                 | 20,049                        | +       18 | +   20,049  
|                                 | 28,191                        | +    8,535 | +   28,191  
|(515)                            | 1,203                         | +      300 | -      678  
|                                 | 2,186                         | +        1 | +       58  
|                                 | 619,807                       | -   60,383 | +  566,055  
|                                 |                               |            |             
|(515)                            | 2,258,744                     | -   53,149 | +1,364,926  
|                                 |                               |            |             
|                                 |                               |            |             
|                                 | 849,716                       | +    8,975 | +   57,915  
|                                 | 88,317                        | +   16,389 | +   47,775  
|(0)                              | 1,241,984                     | -   44,893 | +1,225,626  
|                                 | 819,404                       | +   17,662 | +  807,965  
|                                 | 118,058                       | -    2,385 | +  113,529  
|                                 | 289,247                       | -   74,930 | +  289,247  
|                                 | 1,190                         | +    1,000 | +    1,093  
|(0)                              | 14,085                        | +   13,760 | +   13,792  
|(515)                            | 2,537                         | +      128 | +      321  
|                                 | 33,673                        | -   30,961 | +   27,884  
|                                 |                               |            |             
|(515)                            | 2,216,227                     | -   50,362 | +1,359,521  
|                                 |                               |            |             
|                                 |                               |            |             
|                                 | 21,071                        | +        1 | +    2,718  
|                                 | 16,846                        | -      339 | +    1,384  
|                                 | 4,600                         | -    2,449 | +    1,303  
|                                 |                               |            |             
|                                 | 42,517                        | -    2,787 | +    5,405  

`Note: Components may not sum to totals because of rounding. 1. Includes securities lent to dealers under the overnight and term securities lending facilities; refer   to table 1A.2. Face value of the securities.3. Compensation that adjusts for the effect of inflation on the original face value of inflation-indexed   securities. 4. Cash value of agreements, which are collateralized by U.S. Treasury and federal agency securities.5. Refer to table 6 and the note on consolidation accompanying table 9.6. Refer to table 7 and the note on consolidation accompanying table 9.7. Refer to table 3 and the note on consolidation accompanying table 9.8. Refer to table 4 and the note on consolidation accompanying table 9.9. Refer to table 5 and the note on consolidation accompanying table 9.10. Includes assets denominated in foreign currencies and any exchange-translation assets, which are    revalued daily at market exchange rates. 11. Cash value of agreements, which are collateralized by U.S. Treasury securities.12. Includes any exchange-translation liabilities, which are revalued daily at market exchange rates.13. Includes the liabilities of Commercial Paper Funding Facility LLC, the LLCs funded through the Money Market     Investor Funding Facility, Maiden Lane LLC, Maiden Lane II LLC, and Maiden Lane III LLC to entities other     than the Federal Reserve Bank of New York, including liabilities that have recourse only to the portfolio     holdings of these LLCs.  Refer to table 3 through table 7 and the note on consolidation accompanying table 9.   9. Statement of Condition of Each Federal Reserve Bank,  December 24, 2008Millions of dollars`

|Assets, liabilities, and capital | Total     | Boston    | New York  | Philadelphia | Cleveland | Richmond  | Atlanta   | Chicago   | St. Louis | Minneapolis | Kansas City | Dallas    | SanFrancisco
|-------------------------------- | --------- | --------- | --------- | ------------ | --------- | --------- | --------- | --------- | --------- | ----------- | ----------- | --------- | ------------
|                                 |           |           |           |              |           |           |           |           |           |             |             |          
|11,037                           | 424       | 3,935     | 453       | 423          | 891       | 1,221     | 913       | 344       | 199       | 349         | 636         | 1,249    
|2,200                            | 115       | 874       | 83        | 104          | 147       | 166       | 212       | 71        | 30        | 66          | 98          | 234      
|1,680                            | 56        | 75        | 133       | 136          | 233       | 213       | 193       | 44        | 55        | 113         | 179         | 249      
|                                 |           |           |           |              |           |           |           |           |           |             |             |          
|1,213,741                        | 64,554    | 579,315   | 63,813    | 37,495       | 127,954   | 74,991    | 57,604    | 25,032    | 16,751    | 24,518      | 28,922      | 112,792  
|496,892                          | 20,842    | 176,791   | 21,695    | 18,842       | 45,057    | 49,440    | 43,855    | 17,171    | 9,381     | 18,245      | 20,612      | 54,962   
|476,014                          | 19,966    | 169,363   | 20,783    | 18,050       | 43,164    | 47,363    | 42,013    | 16,449    | 8,987     | 17,478      | 19,746      | 52,652   
|18,423                           | 773       | 6,555     | 804       | 699          | 1,671     | 1,833     | 1,626     | 637       | 348       | 676         | 764         | 2,038    
|457,591                          | 19,193    | 162,808   | 19,979    | 17,352       | 41,494    | 45,530    | 40,387    | 15,813    | 8,639     | 16,802      | 18,981      | 50,615   
|20,878                           | 876       | 7,428     | 912       | 792          | 1,893     | 2,077     | 1,843     | 721       | 394       | 767         | 866         | 2,309    
|80,000                           | 3,356     | 28,464    | 3,493     | 3,034        | 7,254     | 7,960     | 7,061     | 2,765     | 1,510     | 2,937       | 3,318       | 8,849    
|450,219                          | 16,150    | 220,434   | 38,300    | 15,575       | 75,130    | 17,222    | 5,094     | 4,698     | 5,737     | 2,740       | 4,335       | 44,805   
|186,630                          | 24,207    | 153,626   | 325       | 45           | 512       | 369       | 1,594     | 398       | 123       | 596         | 657         | 4,177    
|                                 |           |           |           |              |           |           |           |           |           |             |             |          
|331,686                          | 0         | 331,686   | 0         | 0            | 0         | 0         | 0         | 0         | 0         | 0           | 0           | 0        
|                                 |           |           |           |              |           |           |           |           |           |             |             |          
|                                 |           |           |           |              |           |           |           |           |           |             |             |          
|0                                | 0         | 0         | 0         | 0            | 0         | 0         | 0         | 0         | 0         | 0           | 0           | 0        
|                                 |           |           |           |              |           |           |           |           |           |             |             |          
|26,966                           | 0         | 26,966    | 0         | 0            | 0         | 0         | 0         | 0         | 0         | 0           | 0           | 0        
|                                 |           |           |           |              |           |           |           |           |           |             |             |          
|20,049                           | 0         | 20,049    | 0         | 0            | 0         | 0         | 0         | 0         | 0         | 0           | 0           | 0        
|                                 |           |           |           |              |           |           |           |           |           |             |             |          
|28,191                           | 0         | 28,191    | 0         | 0            | 0         | 0         | 0         | 0         | 0         | 0           | 0           | 0        
|1,717                            | 50        | 0         | 223       | 172          | 56        | 224       | 409       | 39        | 91        | 34          | 239         | 179      
|2,186                            | 124       | 211       | 64        | 151          | 225       | 226       | 207       | 131       | 111       | 274         | 251         | 212      
|619,807                          | 35,095    | 157,275   | 60,021    | 42,840       | 164,969   | 47,972    | 28,043    | 6,408     | 11,907    | 6,908       | 12,537      | 45,834   
|0                                | -  27,300 | + 144,574 | -  69,678 | +   2,533    | - 148,393 | +  17,303 | +  21,889 | +   3,650 | -   9,916 | +  10,584   | +   5,813   | +  48,940
|                                 |           |           |           |              |           |           |           |           |           |             |             |          
|2,259,259                        | 73,118    | 1,293,150 | 55,113    | 83,854       | 146,082   | 142,316   | 109,471   | 35,717    | 19,227    | 42,846      | 48,676      |          

`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. Cash value of agreements, which are collateralized by U.S. Treasury and federal agency securities.5. Refer to table 6 and the note on consolidation on the following page.6. Refer to table 7 and the note on consolidation on the following page.7. Refer to table 3 and the note on consolidation on the following page.8. Refer to table 4 and the note on consolidation on the following page.9. Refer to table 5 and the note on consolidation on the following page.10. Includes assets denominated in foreign currencies and any exchange-translation assets, which are revalued daily at market exchange rates.  9. Statement of Condition of Each Federal Reserve Bank,  December 24, 2008 (continued)Millions of dollars`

|Assets, liabilities, and capital | Total  | Boston    | New York | Philadelphia | Cleveland | Richmond | Atlanta | Chicago | St. Louis | Minneapolis | KansasCity | Dallas  | SanFrancisco
|-------------------------------- | ------ | --------- | -------- | ------------ | --------- | -------- | ------- | ------- | --------- | ----------- | ---------- | ------- | ------------
|                                 |        |           |          |              |           |          |         |         |           |             |            |        
|1,024,543                        | 38,558 | 358,100   | 41,448   | 46,682       | 81,227    | 128,949  | 83,550  | 29,462  | 17,631    | 30,129      | 55,559     | 113,249
|174,827                          | 5,550  | 48,964    | 5,359    | 7,380        | 12,291    | 24,554   | 13,264  | 3,484   | 2,902     | 3,639       | 20,932     | 26,509 
|849,716                          | 33,008 | 309,136   | 36,089   | 39,301       | 68,936    | 104,395  | 70,286  | 25,977  | 14,728    | 26,491      | 34,627     | 86,740 
|88,317                           | 3,704  | 31,423    | 3,856    | 3,349        | 8,008     | 8,787    | 7,795   | 3,052   | 1,667     | 3,243       | 3,663      | 9,769  
|1,241,984                        | 34,261 | 910,445   | 9,673    | 37,464       | 56,532    | 25,327   | 29,234  | 6,056   | 1,793     | 12,436      | 9,238      | 109,525
|819,404                          | 34,252 | 487,977   | 9,668    | 37,460       | 56,459    | 25,323   | 29,232  | 6,047   | 1,792     | 12,435      | 9,238      | 109,522
|118,058                          | 0      | 118,058   | 0        | 0            | 0         | 0        | 0       | 0       | 0         | 0           | 0          | 0      
|                                 |        |           |          |              |           |          |         |         |           |             |            |        
|289,247                          | 0      | 289,247   | 0        | 0            | 0         | 0        | 0       | 0       | 0         | 0           | 0          | 0      
|1,190                            | 2      | 1,160     | 4        | 3            | 11        | 3        | 2       | 0       | 1         | 0           | 1          | 3      
|14,085                           | 7      | 14,003    | 0        | 2            | 62        | 0        | 0       | 9       | 0         | 1           | 0          | 0      
|3,052                            | 78     | 0         | 632      | 445          | 211       | 189      | 325     | 54      | 245       | 129         | 326        | 417    
|                                 |        |           |          |              |           |          |         |         |           |             |            |        
|33,673                           | 171    | 30,901    | 226      | 213          | 552       | 399      | 303     | 152     | 112       | 125         | 183        | 337    
|                                 |        |           |          |              |           |          |         |         |           |             |            |        
|2,216,742                        | 71,222 | 1,281,905 | 50,475   | 80,772       | 134,240   | 139,098  | 107,943 | 35,292  | 18,546    | 42,423      | 48,038     | 206,788
|                                 |        |           |          |              |           |          |         |         |           |             |            |        
|                                 |        |           |          |              |           |          |         |         |           |             |            |        
|21,071                           | 844    | 5,602     | 2,315    | 1,552        | 5,980     | 1,612    | 703     | 210     | 324       | 208         | 271        | 1,449  
|16,846                           | 1,049  | 3,009     | 1,815    | 1,291        | 4,999     | 1,426    | 816     | 180     | 354       | 193         | 364        | 1,351  
|4,600                            | 3      | 2,634     | 507      | 239          | 862       | 180      | 9       | 35      | 3         | 22          | 3          | 101    
|                                 |        |           |          |              |           |          |         |         |           |             |            |        
|2,259,259                        | 73,118 | 1,293,150 | 55,113   | 83,854       | 146,082   | 142,316  | 109,471 | 35,717  | 19,227    | 42,846      | 48,676     | 209,689

`Note: Components may not sum to totals because of rounding. 11. Cash value of agreements, which are collateralized by U.S. Treasury securities.12. Includes any exchange-translation liabilities, which are revalued daily at market exchange rates.13. Includes the liabilities of Commercial Paper Funding Facility LLC, the LLCs funded through the Money Market Investor Funding Facility, Maiden Lane LLC, 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 November 24, 2008, the Federal Reserve Board authorized the FRBNY to extend credit to a series of LLCs funded through the Money Market Investor Funding Facility, which 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' AccountsMillions of dollars`

|Federal Reserve notes and collateral | Wednesday   Dec 24, 2008
|------------------------------------ | ------------------------
|                                    
|1,024,543                           
|174,827                             
|849,716                             
|849,716                             
|11,037                              
|2,200                               
|498,178                             
|338,301                             
|                                    
|                                    
|576,892                             
|78,714                              
|498,178                             

`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, and cash value of   repurchase agreements.`

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