For Release at 

4:30 P.M. Eastern time 

 October 30, 2008 

The Board's H.4.1 statistical release, "Factors Affecting Reserve Balances of Depository Institutions 

and Condition Statement of Federal Reserve Banks," has been modified to include information 

related to Commercial Paper Funding Facility LLC (CPFF LLC). This LLC is a limited liability 

company that was 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. 

On October 27, 2008, the Federal Reserve Bank of New York (FRBNY) extended credit to 

CPFF LLC under the authority of section 13(3) of the Federal Reserve Act. 

Consistent with generally accepted accounting principles, the assets and liabilities of CPFF LLC have 

been consolidated with the assets and liabilities of the FRBNY in the preparation of the statements 

of condition shown on the release because the FRBNY is the sole beneficiary of CPFF LLC. 

The consequences of this consolidation appear on the release in the following ways. The extension 

of credit from the FRBNY to CPFF LLC is eliminated as is the accrued interest on this loan. The 

net portfolio holdings of CPFF LLC appear as an asset on the statement of condition of the 

FRBNY (table 6), the consolidated statement of condition of all Federal Reserve Banks (table 5), 

and factors affecting reserve balances of depository institutions (table 1). 

Information on CPFF LLC is presented separately in a new table 4, "Information on Principal 

Accounts of Commercial Paper Funding Facility LLC." This table presents the net portfolio 

holdings of CPFF LLC, which comprises the book value of the commercial paper holdings of CPFF 

LLC, including amortized cost and related fees, and other investments of the LLC. The table also 

presents the face value of the commercial paper holdings of CPFF LLC. In addition, the table 

presents the outstanding principal of the loan extended by the FRBNY and accrued interest payable 

to the FRBNY. 

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

reserve balances of depository institutions

at Federal Reserve Banks

Reserve Bank credit 1,872,948 + 69,648 +1,010,315 1,953,486

Securities held outright 490,382 - 251 - 289,186 490,089

U.S. Treasury1 476,485 - 43 - 303,083 476,469

Bills2 18,423 0 - 248,596 18,423

Notes and bonds, nominal2 410,757 0 - 61,220 410,757

Notes and bonds, inflation-indexed2 40,806 0 + 4,888 40,806

Inflation compensation3 6,499 - 43 + 1,845 6,484

Federal agency2 13,897 - 208 + 13,897 13,620

Repurchase agreements4 80,000 0 + 38,750 80,000

Term auction credit 301,363 + 38,271 + 301,363 301,363

Other loans 388,809 - 29,771 + 388,526 369,763

Primary credit 111,946 + 6,192 + 111,756 110,737

Secondary credit 1 + 1 + 1 0

Seasonal credit 17 - 2 - 76 16

Primary dealer and other broker-dealer credit5 87,393 - 23,862 + 87,393 79,453

Asset-backed commercial paper money

market mutual fund liquidity facility 99,902 - 14,317 + 99,902 96,010

Other credit extensions 89,549 + 2,217 + 89,549 83,548

Net portfolio holdings of Commercial Paper

Funding Facility LLC6 40,819 + 40,819 + 40,819 144,808

Net portfolio holdings of Maiden Lane LLC7 26,809 - 2,328 + 26,809 26,848

Float -1,240 - 192 - 510 -1,234

Other Federal Reserve assets 546,006 + 23,100 + 503,744 541,849

Gold stock 11,041 0 0 11,041

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

Treasury currency outstanding8 38,787 + 14 + 92 38,787

Total factors supplying reserve funds 1,924,976 + 69,662 +1,010,406 2,005,515

FEDERAL RESERVE statistical release

 October 30, 2008

H.4.1

Factors Affecting Reserve Balances of Depository Institutions and

Condition Statement of Federal Reserve Banks

1. Factors Affecting Reserve Balances of Depository Institutions

Millions of dollars

Averages of daily figures

Note: Components may not sum to totals because of rounding. Footnotes appear on the following page.

Change from week ended Wednesday

 Oct 29, 2008 Week ended

 Oct 29, 2008 Oct 22, 2008 Oct 31, 2007
Reserve Bank credit, related items, and

reserve balances of depository institutions

at Federal Reserve Banks

Currency in circulation8 857,448 + 2,931 + 44,366 860,588

Reverse repurchase agreements9 94,323 - 3,787 + 56,192 94,655

Foreign official and international accounts 69,323 - 3,787 + 31,192 69,655

Dealers 25,000 0 + 25,000 25,000

Treasury cash holdings 269 - 7 - 39 272

Deposits with F.R. Banks, other than reserve balances 667,566 + 112,639 + 655,561 585,724

U.S. Treasury, general account 100,736 + 77,570 + 95,786 19,484

U.S. Treasury, supplementary financing account 558,864 + 34,093 + 558,864 558,864

Foreign official 174 - 80 + 5 187

Service-related 5,998 - 140 - 587 5,998

Required clearing balances 5,998 - 140 - 587 5,998

Adjustments to compensate for float 0 0 0 0

Other 1,794 + 1,196 + 1,493 1,192

Other liabilities and capital10 44,446 - 1,767 + 2,265 44,298

Total factors, other than reserve balances,

absorbing reserve funds 1,664,052 + 110,008 + 758,344 1,585,536

Reserve balances with Federal Reserve Banks 260,924 - 40,346 + 252,062 419,979

H.4.1

1. Factors Affecting Reserve Balances of Depository Institutions, continued

Millions of dollars

Averages of daily figures

Note: Components may not sum to totals because of rounding.

1. Includes securities lent to dealers under the overnight and term securities lending facilities; refer to table 1A.

2. Face value of the securities.

3. Compensation that adjusts for the effect of inflation on the original face value of inflation-indexed securities.

4. Cash value of agreements.

5. Includes credit extended through the Primary Dealer Credit Facility and credit extended to certain other broker-dealers.

6. Refer to table 4 and the notes on consolidation accompanying table 6.

7. Fair value. Refer to table 3 and the notes on consolidation accompanying table 6.

8. Estimated.

9. Cash value of agreements, which are collateralized by U.S. Treasury securities.

10. Includes the liabilities of Maiden Lane LLC and Commercial Paper Funding Facility LLC to entities other than the Federal Reserve Bank of

New York, including liabilities that have recourse only to the portfolio holdings of these entities. Refer to tables 3 and 4 and the notes on

consolidation accompanying table 6.

Sources: Federal Reserve Banks and the U.S. Department of the Treasury.

Change from week ended Wednesday

 Oct 29, 2008 Week ended

 Oct 29, 2008 Oct 22, 2008 Oct 31, 2007
Marketable securities held in custody for foreign

 official and international accounts1 2,486,192 + 7,455 + 453,932 2,484,075

U.S. Treasury 1,571,174 + 15,874 + 339,696 1,574,970

Federal agency 915,018 - 8,419 + 114,236 909,104

Securities lent to dealers 222,566 - 564 + 214,468 219,019

Overnight facility2 25,067 - 564 + 16,969 21,520

Term facility3 197,499 0 + 197,499 197,499

1A. Memorandum Items

Millions of dollars

Averages of daily figures

Week ended

 Oct 29, 2008

Change from week ended Wednesday

 Oct 29, 2008

 Oct 22, 2008 Oct 31, 2007

Note: Components may not sum to totals because of rounding.

1. Face value of the securities. Includes U.S. Treasury STRIPS and other zero-coupon bonds at face value.

2. Fully collateralized by U.S. Treasury securities.

3. Fully collateralized by U.S. Treasury securities, federal agency securities, and other highly rated debt securities.

Memorandum item

H.4.1

91 days to

1 year

2. Maturity Distribution of Term Auction Credit, Other Loans, and Securities, October 29, 2008

Millions of dollars

Within 15 days Over 1 year

to 5 years

16 days to

 90 days

All

Note: Components may not sum to totals because of rounding.

 . . . Not applicable.

1. Excludes the loans from the Federal Reserve Bank of New York to Maiden Lane LLC and Commercial Paper Funding Facility LLC that were

eliminated when preparing that Bank's statement of condition consistent with consolidation under generally accepted accounting principles. The

loan to Maiden Lane LLC is designed to be repaid from the orderly liquidation of Maiden Lane LLC's portfolio holdings and does not have a fixed

amortization schedule.

2. Includes the original face value of inflation-indexed securities and compensation that adjusts for the effect of inflation on the original face value

of such securities.

3. Face value of commercial paper held by Commercial Paper Funding Facility LLC.

4. Cash value of agreements.

Remaining maturity Over 5 years

to 10 years

Over 10

years

Term auction credit

Other loans1

U.S. Treasury securities2

 Holdings

 Weekly changes

Federal agency securities

 Holdings

 Weekly changes

Commercial paper held by

 Commercial Paper Funding

 Facility LLC3

Repurchase agreements4

Reverse repurchase agreements4

 25,000

 185,095

 15,320

- 3,520

 651

- 219

 0

 40,000

 94,655

...

 10,176

 61,340

 0

 3,734

- 493

 0

...

...

...

 65,848

 173,435

- 14

 0

 0

...

...

...

 276,363

 108,644

 30,724

+ 3,517

 9,235

+ 227

 145,713

 40,000

 0

...

...

 94,317

- 10

 0

 0

...

...

...

...

...

 101,333

- 17

 0

 0

...

...

...

 301,363

 369,763

 476,469

- 43

 13,620

- 485

 145,713

 80,000

 94,655
Wednesday

 Oct 29, 2008

3. Information on Principal Accounts of Maiden Lane LLC

Millions of dollars

Net portfolio holdings of Maiden Lane LLC1

Outstanding principal amount of loan extended by the Federal Reserve Bank of New York2

Accrued interest payable to the Federal Reserve Bank of New York2

Outstanding principal amount and accrued interest on loan payable to JPMorgan Chase & Co.3

 26,848

 28,820

 214

 1,176

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.

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 notes on consolidation accompanying table 6.

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 5 and table 6.

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.

Account name

H.4.1

Wednesday

 Oct 29, 2008

4. Information on Principal Accounts of Commercial Paper Funding Facility LLC

Millions of dollars

Commercial paper holdings, net1

Other investments, net

Net portfolio holdings of Commercial Paper Funding Facility LLC

Memorandum: Commercial paper holdings, face value

Outstanding principal amount of loan extended by the Federal Reserve Bank of New York2

Accrued interest payable to the Federal Reserve Bank of New York2

 143,914

 894

 144,808

 145,713

 144,777

 6

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 notes on consolidation accompanying table 6.

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. dollardenominated commercial paper from eligible issuers and thereby foster liquidity in short-term funding markets and increase the availability of credit

for businesses and households.

Account name
Assets

Gold certificate account 11,037 0 0

Special drawing rights certificate account 2,200 0 0

Coin 1,645 + 61 + 394

Securities, repurchase agreements, term auction

credit, and other loans 1,241,215 - 650 + 413,037

Securities held outright 490,089 - 528 - 289,497

U.S. Treasury1 476,469 - 43 - 303,117

Bills2 18,423 0 - 248,596

Notes and bonds, nominal2 410,757 0 - 60,227

Notes and bonds, inflation-indexed2 40,806 0 + 3,895

Inflation compensation3 6,484 - 42 + 1,812

Federal agency2 13,620 - 485 + 13,620

Repurchase agreements4 80,000 0 + 31,500

Term auction credit 301,363 + 38,271 + 301,363

Other loans 369,763 - 38,393 + 369,671

Net portfolio holdings of Commercial Paper Funding

Facility LLC5 144,808 + 144,808 + 144,808

Net portfolio holdings of Maiden Lane LLC6 26,848 + 46 + 26,848

Items in process of collection (358) 1,083 + 79 - 1,127

Bank premises 2,174 + 2 + 56

Other assets7 539,670 + 22,127 + 499,734

Total assets (358) 1,970,680 + 166,472 +1,083,751

Liabilities

Federal Reserve notes, net of F.R. Bank holdings 823,713 + 3,817 + 45,558

Reverse repurchase agreements8 94,655 - 1,332 + 56,600

Deposits (0) 1,005,698 + 163,496 + 979,783

Depository institutions 425,972 + 199,069 + 405,252

U.S. Treasury, general account 19,484 - 36,141 + 15,177

U.S. Treasury, supplementary financing account 558,864 - 123 + 558,864

Foreign official 187 + 33 - 414

Other (0) 1,192 + 659 + 905

Deferred availability cash items (358) 2,317 - 41 - 638

Other liabilities and accrued dividends9,10 3,879 - 28 - 1,845

Total liabilities (358) 1,930,261 + 165,911 +1,079,458

Capital accounts

Capital paid in 20,314 - 3 + 2,367

Surplus 18,335 + 639 + 2,880

Other capital accounts 1,769 - 76 - 955

Total capital 40,418 + 559 + 4,292

H.4.1

5. Consolidated Statement of Condition of All Federal Reserve Banks

Millions of dollars

Change since

Wednesday

 Oct 31, 2007

Eliminations from

consolidation Wednesday

 Oct 29, 2008

Wednesday

 Oct 22, 2008

Assets, liabilities, and capital

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 4 and the notes on consolidation accompanying table 6.

6. Fair value. Refer to table 3 and the notes on consolidation accompanying table 6.

7. Includes assets denominated in foreign currencies and any exchange-translation assets, which are revalued daily at market exchangerates.

8. Cash value of agreements, which are collateralized by U.S. Treasury securities.

9. Includes any exchange-translation liabilities, which are revalued daily at market exchange rates.

10. Includes the liabilities of Maiden Lane LLC and Commercial Paper Funding Facility LLC to entities other than the Federal Reserve Bank of

New York, including liabilities that have recourse only to the portfolio holdings of these entities. Refer to the notes on consolidation

accompanying table 6.
    16, 9, 8,  8,  1, 5,      10, - 8, 18,

 344 71 47 22,914 16,936 16,465 637 15,828 471 2,765 3,000 214 0 0 9 130 5,561 + 3,771 32,847

 913 212 189 59,734 43,255 42,053 1,626 40,427 1,202 7,061 7,467 1,951 0 0 27 207 24,153 + 1,416 86,851

 1,221 166 217 72,479 48,763 47,408 1,833 45,575 1,355 7,960 15,515 241 0 0 279 226 41,228 - 4,767 111,048

 891 147 220 136,108 44,441 43,205 1,671 41,535 1,235 7,254 69,047 15,366 0 0 93 217 141,202 - 114,218 164,659

 423 104 133 37,980 18,584 18,068 699 17,369 516 3,034 15,860 502 0 0 194 150 36,712 - 20,558 55,139

 424 115 51 134,465 20,556 19,985 773 19,212 571 3,356 14,500 96,053 0 0 33 122 30,171 - 79,469 85,912

AssetsGold certificate accountSpecial drawing rights certificate acct.CoinSecurities, repurchase agreements, term

auction credit, and other loans

Securities held outright

U.S. Treasury1

Bills2Notes and bonds3

Federal agency2

Repurchase agreements4Term auction creditOther loans

Net portfolio holdings of Commercial

Paper Funding Facility LLC5

Net portfolio holdings of

Maiden Lane LLC6

Items in process of collectionBank premisesOther assets7Interdistrict settlement account

Total assets

 11,037 2,200 1,645 1,241,215 490,089 476,469 18,423 458,047 13,620 80,000 301,363 369,763 144,808 26,848 1,441 2,174 539,670 0 1,971,038

 453 83 129 31,515 21,398 20,803 804 19,999 595 3,493 2,505 4,119 0 0 203 64 51,363 - 31,948 51,862

 3,935 874 76 587,368 174,371 169,525 6,555 162,970 4,846 28,464 140,138 244,396 144,808 26,848 0 211 142,881 + 268,914 1,175,914

H.4.16. Statement of Condition of Each Federal Reserve Bank, October 29, 2008Millions of dollars

Total Boston New York Philadelphia Cleveland Richmond Atlanta Chicago St. Louis Minneap

Note: Components may not sum to totals because of rounding.1. Includes securities lent to dealers under the overnight and term securities lending facilities; refer to table 1A.2. Face value of the securities.3. Includes the original face value of inflation-indexed securities and compensation that adjusts for the effect of inflation on the original face value of such s4. Cash value of agreements, which are collateralized by U.S. Treasury and federal agency securities.5. Refer to table 4 and the notes on consolidation below.6. Fair value. Refer to the notes on consolidation below.7. Includes assets denominated in foreign currencies and any exchange-translation assets, which are revalued daily at market exchange rates.Notes on consolidation:On June 26, 2008, the Federal Reserve Bank of New York (FRBNY) extended a loan under the authority of section 13(3) of the Federal Reserve Act to Maideformed to acquire certain assets of Bear Stearns. The FRBNY is the primary beneficiary of Maiden Lane LLC. Consistent with generally accepted accounting Maiden Lane LLC have been consolidated with the assets and liabilities of the FRBNY in the preparation of the statements of condition shown on this releastion, the extension of credit from the FRBNY to Maiden Lane LLC is eliminated, the net assets of Maiden Lane LLC appear as an asset in this table (and table Maiden Lane LLC to entities other than the FRBNY, including those with recourse only to the portfolio holdings of Maiden Lane LLC, are included in other liabiand table 5).

Assets, liabilities, and capital

On October 27, 2008, the Federal Reserve Bank of New York (FRBNY) began extending loans under the authority of section 13(3) of the Federal Reserve AcLLC (CPFF LLC). This LLC is a limited liability company that was formed to purchase three-month U.S. dollar-denominated commercial paper from eligible issuof CPFF LLC. Consistent with generally accepted accounting principles, the assets and liabilities of CPFF LLC have been consolidated with the assets and liaof the statements of condition shown on this release. As a consequence of the consolidation, the extension of credit from the FRBNY to CPFF LLC is eliminatas an asset in this table (and table 1 and table 5), and the liabilities of CPFF LLC to entities other than the FRBNY are included in other liabilities on the next pa
Total Boston New York Philadelphia Cleveland Richmond Atlanta Chicago St. Louis Minneap

LiabilitiesFederal Reserve notes outstanding

Less: Notes held by F.R. Banks

Federal Reserve notes, net

Reverse repurchase agreements8

Deposits

Depository institutionsU.S. Treasury, general accountU.S. Treasury, supplementary financing accountForeign officialOther

Deferred availability cash itemsOther liabilities and accrued

dividends9,10

Total liabilities

CapitalCapital paid inSurplusOther capital

Total liabilities and capital

Note: Components may not sum to totals because of rounding.8. Cash value of agreements, which are collateralized by U.S. Treasury securities.9. Includes any exchange-translation liabilities, which are revalued daily at market exchange rates.10. Includes the liabilities of Maiden Lane LLC and Commercial Paper Funding Facility LLC to entities other than the Federal Reserve Bank of New York, inclu

only to the portfolio holdings of these entities. Refer to the notes on consolidation on the previous page.

H.4.16. Statement of Condition of Each Federal Reserve Bank, October 29, 2008 (continued)Millions of dollars

Assets, liabilities, and capital

 38,468 5,626 32,842 3,970 46,959 46,929 0 0 2 28 50 167 83,988 784 1,050 89 85,912

 996,782 173,069 823,713 94,655 1,005,698 425,972 19,484 558,864 187 1,192 2,675 3,879 1,930,620 20,314 18,335 1,769 1,971,038

 351,224 41,278 309,946 33,678 821,463 241,944 19,484 558,864 157 1,015 0 1,168 1,166,255 5,162 4,497 0 1,175,914

 42,398 6,032 36,366 4,133 5,997 5,993 0 0 4 0 492 205 47,192 2,331 1,814 524 51,862

 44,935 7,914 37,021 3,589 10,807 10,803 0 0 3 1 428 200 52,046 1,525 1,291 278 55,139

 82,232 11,679 70,554 8,583 73,539 73,408 0 0 11 121 291 523 153,490 5,832 4,999 337 164,659

 120,284 28,642 91,642 9,418 6,066 6,063 0 0 3 0 244 397 107,768 1,602 1,426 253 111,048

 80,137 13,040 67,097 8,354 9,347 9,344 0 0 2 0 195 305 85,297 685 816 53 86,851

 29,703 3,402 26,301 3,271 2,717 2,692 0 0 0 24 24 153 32,466 182 180 19 32,847

 17,3 2,7 14,6 1,7 7 7     2 1 17,5 3 3  18,2
H.4.1

Federal Reserve notes outstanding

Less: Notes held by F.R. Banks not subject to collateralization

Federal Reserve notes to be collateralized

Collateral held against Federal Reserve notes

Gold certificate accountSpecial drawing rights certificate accountU.S. Treasury and agency securities pledged1Other assets pledged

Memo:Total U.S. Treasury and agency securities1

Less: Face value of securities under reverse repurchase agreements

U.S. Treasury and agency securities eligible to be pledged

7. Collateral Held against Federal Reserve Notes: Federal Reserve Agents' AccountsMillions of dollars

Federal Reserve notes and collateral Wednesday

 Oct 29, 2008

Note: Components may not sum to totals because of rounding.1. Includes face value of U.S. Treasury and agency securities held outright, compensation to

adjust for the effect of inflation on the original face value of inflation-indexed securities, andcash value of repurchase agreements.

 996,782 173,069 823,713 823,713 11,037 2,200 480,457 330,019 570,089 89,632 480,457