For Release at 

4:30 P.M. Eastern time 

 December 18, 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 Maiden Lane II LLC, a limited liability company formed to purchase residential mortgagebacked securities (RMBS) from the U.S. securities lending reinvestment portfolio of subsidiaries of 

American International Group, Inc. (AIG). 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. 

Consistent with generally accepted accounting principles, the assets and liabilities of Maiden Lane II 

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 primary beneficiary of 

Maiden Lane II LLC. As a result of this consolidation, both the loan extended from the FRBNY to 

Maiden Lane II LLC and the accrued interest on this loan were eliminated. The net portfolio 

holdings of these limited liability companies are reported in table 1, in table 8, and in table 9. 

Information on Maiden Lane II LLC is presented separately in a new table 4, “Information on 

Principal Accounts of Maiden Lane II LLC.” This table presents the fair value of the net portfolio 

holdings of the Maiden Lane II LLC along with the book value of the outstanding principal of the 

loan extended by the FRBNY, the book value of accrued interest payable to the FRBNY, and the 

book value of the deferred payment and accrued interest payable to subsidiaries of AIG. 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. 

Publication Note

The H.4.1 statistical release for the week ended December 24, 2008, will be published on Monday, 

December 29, 2008, because the federal government is closed on both Thursday, December 25 and 

Friday, December 26. 

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

reserve balances of depository institutions

at Federal Reserve Banks

Reserve Bank credit 2,253,739 + 12,269 +1,382,847 2,294,626

Securities held outright 492,765 + 3,373 - 276,983 493,759

U.S. Treasury1 476,178 - 108 - 293,570 476,138

Bills2 18,423 0 - 238,596 18,423

Notes and bonds, nominal2 410,491 0 - 60,493 410,491

Notes and bonds, inflation-indexed2 41,071 0 + 4,160 41,071

Inflation compensation3 6,192 - 108 + 1,358 6,152

Federal agency2 16,587 + 3,481 + 16,587 17,621

Repurchase agreements4 80,000 0 + 24,250 80,000

Term auction credit 447,959 0 + 447,959 447,959

Other loans 212,525 - 28,065 + 207,906 206,544

Primary credit 88,407 - 1,754 + 83,821 90,237

Secondary credit 3 - 75 + 3 0

Seasonal credit 2 0 - 30 0

Primary dealer and other broker-dealer credit5 50,493 - 2,309 + 50,493 47,336

Asset-backed commercial paper money

market mutual fund liquidity facility 29,274 - 11,552 + 29,274 27,421

Credit extended to American International

Group, Inc.6 44,347 - 12,376 + 44,347 41,550

Other credit extensions 0 0 0 0

Net portfolio holdings of Commercial Paper

Funding Facility LLC7 315,267 + 6,749 + 315,267 318,843

Net portfolio holdings of LLCs funded through the

money market investor funding facility8 0 0 0 0

Net portfolio holdings of Maiden Lane LLC9 26,892 - 162 + 26,892 26,910

Net portfolio holdings of Maiden Lane II LLC10 17,519 + 17,519 + 17,519 20,031

Net portfolio holdings of Maiden Lane III LLC11 19,608 - 1,349 + 19,608 19,656

Float -1,029 + 1 - 660 -1,506

Other Federal Reserve assets 642,233 + 14,203 + 601,088 682,431

Gold stock 11,041 0 0 11,041

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

Treasury currency outstanding12 38,829 + 14 + 106 38,829

Total factors supplying reserve funds 2,305,808 + 12,282 +1,382,952 2,346,696

FEDERAL RESERVE statistical release

 December 18, 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

 Dec 17, 2008 Week ended

 Dec 17, 2008 Dec 10, 2008 Dec 19, 2007
Reserve Bank credit, related items, and

reserve balances of depository institutions

at Federal Reserve Banks

Currency in circulation12 875,301 + 3,344 + 55,800 877,664

Reverse repurchase agreements13 93,200 + 1,246 + 56,111 71,928

Foreign official and international accounts 71,771 + 4,817 + 34,682 71,928

Dealers 21,429 - 3,571 + 21,429 0

Treasury cash holdings 227 - 14 - 20 233

Deposits with F.R. Banks, other than reserve balances 454,749 - 38,778 + 440,275 489,754

U.S. Treasury, general account 79,632 + 30,103 + 72,132 120,443

U.S. Treasury, supplementary financing account 364,177 - 39,946 + 364,177 364,177

Foreign official 238 + 50 + 134 190

Service-related 4,619 + 26 - 1,978 4,619

Required clearing balances 4,592 0 - 1,948 4,592

Adjustments to compensate for float 27 + 26 - 30 27

Other 6,083 - 29,012 + 5,811 325

Other liabilities and capital14 82,074 + 23,867 + 39,265 109,938

Total factors, other than reserve balances,

absorbing reserve funds 1,505,551 - 10,334 + 591,432 1,549,517

Reserve balances with Federal Reserve Banks 800,257 + 22,616 + 791,519 797,179

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. 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.

Change from week ended Wednesday

 Dec 17, 2008 Week ended

 Dec 17, 2008 Dec 10, 2008 Dec 19, 2007
Marketable securities held in custody for foreign

 official and international accounts1 2,498,205 + 4,427 + 450,310 2,502,619

U.S. Treasury 1,656,563 + 21,617 + 431,930 1,669,312

Federal agency 841,642 - 17,191 + 18,380 833,307

Securities lent to dealers 187,146 - 2,820 + 176,394 186,494

Overnight facility2 5,572 + 752 - 5,180 4,148

Term facility3,4 181,575 - 3,571 + 181,575 182,346

1A. Memorandum Items

Millions of dollars

Averages of daily figures

Week ended

 Dec 17, 2008

Change from week ended Wednesday

 Dec 17, 2008

 Dec 10, 2008 Dec 19, 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.

4. On December 17, 2008, option contracts on draws on the Term Securities Lending Facility totaling $ 49,999 million were outstanding. The

exercise date for the options is December 22, 2008, and the draws have a term of December 23, 2008 through January 5, 2009.

Memorandum item

H.4.1

91 days to

1 year

2. Maturity Distribution of Term Auction Credit, Other Loans, and Securities, December 17, 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 (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.

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

Money market instruments held by

LLCs funded through the

money market investor

funding facility4

Repurchase agreements5

Reverse repurchase agreements5

 104,458

 123,256

 14,536

+ 4,858

 4,944

- 21

 0

 0

 40,000

 71,928

...

 154

 64,478

- 722

 1,647

- 877

 0

 0

...

...

...

 41,550

 172,076

+ 409

 5,737

+ 767

...

...

...

...

 343,501

 41,585

 25,753

- 5,067

 3,060

- 293

 319,422

 0

 40,000

 0

...

...

 97,373

+ 457

 2,233

+ 2,233

...

...

...

...

...

...

 101,921

- 43

 0

 0

...

...

...

...

 447,959

 206,544

 476,138

- 108

 17,621

+ 1,809

 319,422

 0

 80,000

 71,928
Wednesday

 Dec 17, 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

 26,910

 28,820

 262

 1,185

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 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.

Account name

H.4.1

Wednesday

 Dec 17, 2008

4. Information on Principal Accounts of Maiden Lane II LLC

Millions of dollars

Net portfolio holdings of Maiden Lane II 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

Deferred payment and accrued interest payable to subsidiaries of American International Group, Inc.3

 20,031

 19,494

 8

 1,001

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.

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 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.

Account name

Wednesday

 Dec 17, 2008

5. Information on Principal Accounts of Maiden Lane III LLC

Millions of dollars

Net portfolio holdings of Maiden Lane III 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 American International Group, Inc.3

 19,656

 15,134

 23

 5,014

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.

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.

Account name
Wednesday

 Dec 17, 2008

7. Information on Principal Accounts of LLCs Funded through the Money Market Investor

 Funding Facility

Millions of dollars

Money market instrument holdings, net1

Other investments, net

Net portfolio holdings of LLCs funded through the money market investor funding facility

Memorandum: Money market instrument 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

Commercial paper issued by LLCs funded through the money market investor funding facility, net of related discounts

 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.

Account name

H.4.1

Wednesday

 Dec 17, 2008

6. 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

 317,548

 1,295

 318,843

 319,422

 317,522

 470

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. 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 1,677 + 16 + 479

Securities, repurchase agreements, term auction

credit, and other loans 1,228,262 - 24,870 + 395,991

Securities held outright 493,759 + 1,701 - 275,996

U.S. Treasury1 476,138 - 108 - 293,617

Bills2 18,423 0 - 238,596

Notes and bonds, nominal2 410,491 0 - 60,493

Notes and bonds, inflation-indexed2 41,071 0 + 4,160

Inflation compensation3 6,152 - 109 + 1,310

Federal agency2 17,621 + 1,809 + 17,621

Repurchase agreements4 80,000 0 + 22,250

Term auction credit 447,959 0 + 447,959

Other loans 206,544 - 26,571 + 201,779

Net portfolio holdings of Commercial Paper Funding

Facility LLC5 318,843 + 6,429 + 318,843

Net portfolio holdings of LLCs funded through the

money market investor funding facility6 0 0 0

Net portfolio holdings of Maiden Lane LLC7 26,910 + 21 + 26,910

Net portfolio holdings of Maiden Lane II LLC8 20,031 + 20,031 + 20,031

Net portfolio holdings of Maiden Lane III LLC9 19,656 + 56 + 19,656

Items in process of collection (387) 903 - 107 - 2,482

Bank premises 2,185 + 9 + 61

Other assets10 680,190 + 47,970 + 641,129

Total assets (387) 2,311,893 + 49,554 +1,420,617

Liabilities

Federal Reserve notes, net of F.R. Bank holdings 840,741 + 3,178 + 54,956

Reverse repurchase agreements11 71,928 - 20,164 + 35,498

Deposits (0) 1,286,877 + 19,228 +1,264,275

Depository institutions 801,742 + 23,900 + 784,081

U.S. Treasury, general account 120,443 + 78,797 + 115,857

U.S. Treasury, supplementary financing account 364,177 - 39,946 + 364,177

Foreign official 190 + 2 + 94

Other (0) 325 - 43,525 + 65

Deferred availability cash items (387) 2,409 + 84 - 1,646

Other liabilities and accrued dividends12,13 64,634 + 45,190 + 58,774

Total liabilities (387) 2,266,589 + 47,516 +1,411,856

Capital accounts

Capital paid in 21,070 + 61 + 2,853

Surplus 17,185 + 5 + 1,725

Other capital accounts 7,049 + 1,972 + 4,182

Total capital 45,304 + 2,037 + 8,761

H.4.1

8. Consolidated Statement of Condition of All Federal Reserve Banks

Millions of dollars

Change since

Wednesday

 Dec 19, 2007

Eliminations from

consolidation Wednesday

 Dec 17, 2008

Wednesday

 Dec 10, 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 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 exchangerates.

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.
    16, 9, 8,  8,  1, 5,         13, - 11, 18,

 344 71 44 24,140 17,063 16,454 637 15,817 609 2,765 3,888 424 0 0 0 0 0 9 130 6,970 - 286 31,422

 913 212 194 57,107 43,579 42,024 1,626 40,398 1,555 7,061 4,869 1,598 0 0 0 0 0 184 207 30,674 + 20,436 109,926

 1,221 166 212 78,262 49,128 47,375 1,833 45,542 1,753 7,960 20,791 383 0 0 0 0 0 129 225 52,588 + 8,656 141,460

 891 147 233 147,536 44,773 43,175 1,671 41,505 1,598 7,254 95,070 438 0 0 0 0 0 40 223 181,540 - 146,083 184,528

 423 104 135 38,743 18,723 18,055 699 17,356 668 3,034 16,958 28 0 0 0 0 0 156 150 47,101 - 4,222 82,591

 424 115 58 71,731 20,710 19,971 773 19,198 739 3,356 20,050 27,616 0 0 0 0 0 34 124 38,554 - 23,905 87,134

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 LLCs funded

through the money market investorfunding facility6

Net portfolio holdings of Maiden

Lane LLC7

Net portfolio holdings of Maiden

Lane II LLC8

Net portfolio holdings of Maiden

Lane III LLC9

Items in process of collectionBank premisesOther assets10Interdistrict settlement account

Total assets

 11,037 2,200 1,677 1,228,262 493,759 476,138 18,423 457,715 17,621 80,000 447,959 206,544 318,843 0 26,910 20,031 19,656 1,290 2,185 680,190 0 2,312,280

 453 83 130 56,449 21,558 20,789 804 19,984 769 3,493 31,300 98 0 0 0 0 0 322 64 66,021 - 70,423 53,099

 3,935 874 76 556,592 175,676 169,407 6,555 162,852 6,269 28,464 187,257 165,195 318,843 0 26,910 20,031 19,656 0 210 172,261 + 183,354 1,302,741

H.4.19. Statement of Condition of Each Federal Reserve Bank, December 17, 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 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.

Assets, liabilities, and capital
Total Boston New York Philadelphia Cleveland Richmond Atlanta Chicago St. Louis Minneap

LiabilitiesFederal Reserve notes outstanding

Less: Notes held by F.R. Banks

Federal Reserve notes, net

Reverse repurchase agreements11

Deposits

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

Deferred availability cash itemsOther liabilities and accrued

dividends12,13

Total liabilities

CapitalCapital paid inSurplusOther capital

Total liabilities and capital

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, M

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. Refenote 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 Federawas 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 Commwas formed to purchase three-month U.S. dollar-denominated commercial paper from eligible issuers. On November 24, 2008, the Federal Reserve Board authorizeof LLCs funded through the Money Market Investor Funding Facility, which were established to purchase short-term U.S. dollar-denominated certificates of deposit, 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 American International Group, Inc. has written credit default swap contracts. On December 12, 2008, a loan was extended to Maiden Lane II LLC, which wamortgage-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 aassets 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 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 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 tabH.4.19. Statement of Condition of Each Federal Reserve Bank, December 17, 2008 (continued)Millions of dollars

Assets, liabilities, and capital

 38,625 5,955 32,670 3,017 49,176 49,143 0 0 2 31 61 178 85,101 844 1,049 140 87,134

 1,022,070 181,329 840,741 71,928 1,286,877 801,742 120,443 364,177 190 325 2,796 64,634 2,266,976 21,070 17,185 7,049 2,312,280

 356,588 49,459 307,130 25,591 896,063 411,083 120,443 364,177 160 200 0 61,801 1,290,586 5,602 3,348 3,205 1,302,741

 41,526 5,768 35,758 3,140 8,588 8,584 0 0 4 0 535 224 48,246 2,315 1,815 724 53,099

 46,769 7,622 39,147 2,727 36,795 36,791 0 0 3 1 443 218 79,331 1,552 1,291 416 82,591

 81,298 12,322 68,976 6,522 95,703 95,615 0 0 11 77 179 585 171,965 5,979 4,999 1,585 184,528

 128,168 26,036 102,133 7,157 28,194 28,191 0 0 3 0 168 393 138,044 1,614 1,426 376 141,460

 83,607 13,969 69,638 6,348 31,678 31,675 0 0 2 0 316 311 108,291 703 816 116 109,926

 29,515 3,719 25,796 2,486 2,517 2,502 0 0 0 14 22 152 30,973 210 180 60 31,422

 17,6 3,0 14,6 1,3 1,2 1,2     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

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

Federal Reserve notes and collateral Wednesday

 Dec 17, 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.

 1,022,070 181,329 840,741 840,741 11,037 2,200 509,638 317,866 573,759 64,121 509,638