---

`FEDERAL RESERVE statistical release

H.4.1
Factors Affecting Reserve Balances of Depository Institutions and
Condition Statement of Federal Reserve Banks
                                                                                          December 29, 2008
1. Factors Affecting Reserve Balances of Depository Institutions
Millions of dollars
Reserve Bank credit, related items, and                            Averages of daily figures
reserve balances of depository institutions at            Week ended   Change from week ended     Wednesday
Federal Reserve Banks                                    Dec 24, 2008 Dec 17, 2008 Dec 26, 2007 Dec 24, 2008

Reserve Bank credit                                       2,207,272   -   46,466   +1,333,775    2,241,288
  Securities held outright                                  495,994   +    3,229   -  258,611      496,892       
    U.S. Treasury (1)                                       476,067   -      111   -  278,538      476,014
      Bills (2)                                              18,423            0   -  223,433       18,423
      Notes and bonds, nominal (2)                          410,491            0   -   60,493      410,491
      Notes and bonds, inflation-indexed (2)                 41,071            0   +    4,160       41,071
      Inflation compensation (3)                              6,082   -      110   +    1,227        6,029
    Federal agency (2)                                       19,927   +    3,340   +   19,927       20,878      
  Repurchase agreements (4)                                  80,000            0   +   40,464       80,000
  Term auction credit                                       420,806   -   27,153   +  400,806      450,219  
  Other loans                                               196,868   -   15,657   +  192,040      186,630
    Primary credit                                           86,260   -    2,147   +   81,458       84,898
    Secondary credit                                             51   +       48   +       51           40
    Seasonal credit                                               3   +        1   -       23            3
    Primary dealer and other broker-dealer credit (5)        45,679   -    4,814   +   45,679       38,190
    Asset-backed commercial paper money market
      mutual fund liquidity facility                         24,858   -    4,416   +   24,858       23,993
    Credit extended to American International
      Group, Inc. (6)                                        40,018   -    4,329   +   40,018       39,507
    Other credit extensions                                       0            0            0            0
  Net portfolio holdings of Commercial Paper 
    Funding Facility LLC (7)                                325,796   +   10,529   +  325,796      331,686
  Net portfolio holdings of LLCs funded through
    the money market investor funding facility (8)                0            0            0            0
  Net portfolio holdings of Maiden Lane LLC (9)              26,918   +       26   +   26,918       26,966
  Net portfolio holdings of Maiden Lane II LLC (10)          20,033   +    2,514   +   20,033       20,049
  Net portfolio holdings of Maiden Lane III LLC (11)         28,085   +    8,477   +   28,085       28,191
  Float                                                      -1,167   -      138   -      254       -1,334
  Other Federal Reserve assets                              613,939   -   28,294   +  558,497      621,990
Gold stock                                                   11,041            0            0       11,041
Special drawing rights certificate account                    2,200            0            0        2,200
Treasury currency outstanding (12)                           38,843   +       14   +      141       38,843
       
Total factors supplying reserve funds                     2,259,356   -   46,452   +1,333,916    2,293,372

Note: Components may not sum to totals because of rounding.  Footnotes appear on the following page.


1. Factors Affecting Reserve Balances of Depository Institutions, continued
Millions of dollars
Reserve Bank credit, related items, and                            Averages of daily figures
reserve balances of depository institutions at            Week ended   Change from week ended     Wednesday
Federal Reserve Banks                                    Dec 24, 2008 Dec 17, 2008 Dec 26, 2007 Dec 24, 2008

Currency in circulation (12)                                881,463   +    6,162   +   55,946      886,651
Reverse repurchase agreements (13)                           87,758   -    5,442   +   48,638       88,317
  Foreign official and international accounts                87,758   +   15,987   +   48,638       88,317
  Dealers                                                         0   -   21,429            0            0
Treasury cash holdings                                          233   +        6   -       15          233
Deposits with F.R. Banks, other than reserve balances       425,657   -   29,092   +  413,753      426,994       
  U.S. Treasury, general account                            125,933   +   46,301   +  121,023      118,058
  U.S. Treasury, supplementary financing account            289,247   -   74,930   +  289,247      289,247
  Foreign official                                              644   +      406   +      547        1,190
  Service-related                                             4,414   -      205   -    2,200        4,414
    Required clearing balances                                4,385   -      207   -    2,229        4,385
    Adjustments to compensate for float                          29   +        2   +       29           29
  Other                                                       5,418   -      665   +    5,135       14,085
Other liabilities and capital (14)                           79,640   -    2,434   +   36,808       76,190

Total factors, other than reserve balances,                                        
   absorbing reserve funds                                1,474,750   -   30,801   +  555,130    1,478,384

Reserve balances with Federal Reserve Banks                 784,607   -   15,650   +  778,787      814,987
                                                                
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
                                                                   Averages of daily figures
Memorandum item                                           Week ended   Change from week ended     Wednesday
                                                         Dec 24, 2008 Dec 17, 2008 Dec 26, 2007 Dec 24, 2008

Marketable securities held in custody for foreign
      official and international accounts (1)             2,509,692   +   11,487   +  453,281    2,513,564
  U.S. Treasury                                           1,684,697   +   28,134   +  458,513    1,694,571
  Federal agency                                            824,995   -   16,647   -    5,232      818,992
Securities lent to dealers                                  184,566   -    2,580   +  170,436      188,339   
  Overnight facility (2)                                      6,970   +    1,398   -    7,160        5,743
  Term facility (3)                                         177,596   -    3,979   +  177,596      182,596

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, 2008
Millions of dollars

Remaining maturity                 Within 15  16 days to  91 days to  Over 1 year  Over 5 years  Over 10       All
                                      days     90 days      1 year     to 5 years   to 10 years   years 
Term auction credit                  181,796     268,423         ---          ---           ---        ---     450,219
Other loans (1)                      112,162      34,961            0      39,507           ---        ---     186,630
U.S. Treasury securities (2) 
  Holdings                            17,301      22,980       64,478     172,038        97,345    101,871     476,014
  Weekly changes                  +    2,765  -    2,773            0  -       38    -       28 -       50  -      124
Federal agency securities 
  Holdings                             1,620       3,281          976      11,361         3,640          0      20,878
  Weekly changes                  -    3,324  +      221   -      671  +    5,624    +    1,407          0  +    3,257
Commercial paper held by
  Commercial Paper Funding 
  Facility LLC (3)                         0     332,125            0         ---           ---        ---     332,125
Money market instruments held by
  LLCs funded through the money
  market investor funding
  facility (4)                             0           0            0         ---           ---        ---           0
Repurchase agreements (5)             40,000      40,000          ---         ---           ---        ---      80,000

Reverse repurchase agreements (5)     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 LLC
Millions of dollars
                                                                                                  Wednesday
Account name                                                                                    Dec 24, 2008
         
Net portfolio holdings of Maiden Lane LLC (1)                                                       26,966

Outstanding principal amount of loan extended by the Federal Reserve Bank of New York (2)           28,820
Accrued interest payable to the Federal Reserve Bank of New York (2)                                   265
Outstanding principal amount and accrued interest on loan payable to JPMorgan Chase & Co. (3)        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 LLC
Millions of dollars
                                                                                                   Wednesday
Account name                                                                                     Dec 24, 2008

Net portfolio holdings of Maiden Lane II LLC (1)                                                     20,049

Outstanding principal amount of loan extended by the Federal Reserve Bank of New York (2)            19,494
Accrued interest payable to the Federal Reserve Bank of New York (2)                                     20
Deferred payment and accrued interest payable to subsidiaries of American International 
  Group, Inc. (3)                                                                                     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 LLC
Millions of dollars
                                                                                                   Wednesday
Account name                                                                                     Dec 24, 2008

Net portfolio holdings of Maiden Lane III LLC (1)                                                    28,191

Outstanding principal amount of loan extended by the Federal Reserve Bank of New York (2)            24,339
Accrued interest payable to the Federal Reserve Bank of New York (2)                                     36
Outstanding principal amount and accrued interest on loan payable to American International
  Group, Inc. (3)                                                                                     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 LLC
Millions of dollars
                                                                                                   Wednesday
Account name                                                                                     Dec 24, 2008

Commercial paper holdings, net (1)                                                                  330,353
Other investments, net                                                                                1,332
Net portfolio holdings of Commercial Paper Funding Facility LLC                                     331,686

Memorandum: Commercial paper holdings, face value                                                   332,125

Outstanding principal amount of loan extended by the Federal Reserve Bank of New York (2)           330,125
Accrued interest payable to the Federal Reserve Bank of New York (2)                                    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
                                                                                                   Wednesday
Account name                                                                                     Dec 24, 2008

Money market instrument holdings, net (1)                                                                 0
Other investments, net                                                                                    0
Net portfolio holdings of LLCs funded through the money market investor funding facility                  0

Memorandum: Money market instrument holdings, face value                                                  0

Outstanding principal amount of loan extended by the Federal Reserve Bank of New York (2)                 0
Accrued interest payable to the Federal Reserve Bank of New York (2)                                      0
Commercial paper issued by LLCs funded through the money market investor funding facility, 
  net of related discounts                                                                                0

1. Book value, which includes amortized cost.
2. Book value.  This amount was eliminated when preparing the Federal Reserve Bank of New York's statement of 
   condition consistent with consolidation under generally accepted accounting principles.  Refer to the note 
   on consolidation accompanying table 9.

Note: 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 Banks
Millions of dollars
                                                 Eliminations                          Change since
                                                     from       Wednesday        Wednesday        Wednesday
Assets, liabilities, and capital                consolidation Dec 24, 2008     Dec 17, 2008     Dec 26, 2007

Assets
Gold certificate account                                           11,037                0                0
Special drawing rights certificate account                          2,200                0                0
Coin                                                                1,680       +        3       +      507
Securities, repurchase agreements, term auction
      credit, and other loans                                   1,213,741       -   14,521       +  392,094
  Securities held outright                                        496,892       +    3,133       -  257,720
    U.S. Treasury (1)                                             476,014       -      124       -  278,598       
      Bills (2)                                                    18,423                0       -  223,433
      Notes and bonds, nominal (2)                                410,491                0       -   60,493
      Notes and bonds, inflation-indexed (2)                       41,071                0       +    4,160
      Inflation compensation (3)                                    6,029       -      123       +    1,167
    Federal agency (2)                                             20,878       +    3,257       +   20,878
  Repurchase agreements (4)                                        80,000                0       +   37,500    
  Term auction credit                                             450,219       +    2,260       +  430,219
  Other loans                                                     186,630       -   19,914       +  182,095
Net portfolio holdings of Commercial Paper 
  Funding Facility LLC (5)                                        331,686       +   12,843       +  331,686
Net portfolio holdings of LLCs funded through
  the money market investor funding facility (6)                        0                0                0
Net portfolio holdings of Maiden Lane LLC (7)                      26,966       +       56       +   26,966
Net portfolio holdings of Maiden Lane II LLC (8)                   20,049       +       18       +   20,049
Net portfolio holdings of Maiden Lane III LLC (9)                  28,191       +    8,535       +   28,191
Items in process of collection                         (515)        1,203       +      300       -      678
Bank premises                                                       2,186       +        1       +       58
Other assets (10)                                                 619,807       -   60,383       +  566,055
     
      Total assets                                     (515)    2,258,744       -   53,149       +1,364,926
                          
Liabilities
Federal Reserve notes, net of F.R. Bank holdings                  849,716       +    8,975       +   57,915
Reverse repurchase agreements (11)                                 88,317       +   16,389       +   47,775
Deposits                                                 (0)    1,241,984       -   44,893       +1,225,626       
  Depository institutions                                         819,404       +   17,662       +  807,965
  U.S. Treasury, general account                                  118,058       -    2,385       +  113,529
  U.S. Treasury, supplementary financing account                  289,247       -   74,930       +  289,247
  Foreign official                                                  1,190       +    1,000       +    1,093
  Other                                                  (0)       14,085       +   13,760       +   13,792
Deferred availability cash items                       (515)        2,537       +      128       +      321
Other liabilities and accrued dividends (12,13)                    33,673       -   30,961       +   27,884

      Total liabilities                                (515)    2,216,227       -   50,362       +1,359,521
                          
Capital accounts
Capital paid in                                                    21,071       +        1       +    2,718
Surplus                                                            16,846       -      339       +    1,384
Other capital accounts                                              4,600       -    2,449       +    1,303

      Total capital                                                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, 2008
Millions of dollars
                                                                                                                                                            Kansas                 San
Assets, liabilities, and capital               Total     Boston   New York Philadelphia Cleveland   Richmond   Atlanta    Chicago   St. Louis  Minneapolis   City      Dallas   Francisco

Assets                        
Gold certificate account                      11,037        424      3,935        453        423        891      1,221        913        344        199        349        636      1,249
Special drawing rights certificate acct.       2,200        115        874         83        104        147        166        212         71         30         66         98        234
Coin                                           1,680         56         75        133        136        233        213        193         44         55        113        179        249
Securities, repurchase agreements, term
      auction credit, and other loans      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
  Securities held outright                   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
    U.S. Treasury (1)                        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
      Bills (2)                               18,423        773      6,555        804        699      1,671      1,833      1,626        637        348        676        764      2,038
      Notes and bonds (3)                    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
    Federal agency (2)                        20,878        876      7,428        912        792      1,893      2,077      1,843        721        394        767        866      2,309
  Repurchase agreements (4)                   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
  Term auction credit                        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     
  Other loans                                186,630     24,207    153,626        325         45        512        369      1,594        398        123        596        657      4,177
Net portfolio holdings of Commercial
  Paper Funding Facility LLC (5)             331,686          0    331,686          0          0          0          0          0          0          0          0          0          0
Net portfolio holdings of LLCs funded
  through the money market investor
  funding facility (6)                             0          0          0          0          0          0          0          0          0          0          0          0          0
Net portfolio holdings of Maiden Lane 
  LLC (7)                                     26,966          0     26,966          0          0          0          0          0          0          0          0          0          0
Net portfolio holdings of Maiden
  Lane II LLC (8)                             20,049          0     20,049          0          0          0          0          0          0          0          0          0          0
Net portfolio holdings of Maiden
  Lane III LLC (9)                            28,191          0     28,191          0          0          0          0          0          0          0          0          0          0
Items in process of collection                 1,717         50          0        223        172         56        224        409         39         91         34        239        179
Bank premises                                  2,186        124        211         64        151        225        226        207        131        111        274        251        212
Other assets (10)                            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
Interdistrict settlement account                   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

      Total assets                         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.

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
                                                                                                                                                            Kansas                 San
Assets, liabilities, and capital                Total     Boston   New York Philadelphia Cleveland   Richmond   Atlanta    Chicago   St. Louis  Minneapolis   City      Dallas   Francisco

Liabilities                         
Federal Reserve notes outstanding           1,024,543     38,558    358,100     41,448     46,682     81,227    128,949     83,550     29,462     17,631     30,129     55,559    113,249
  Less: Notes held by F.R. Banks              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
    Federal Reserve notes, net                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
Reverse repurchase agreements (11)             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
Deposits                                    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
  Depository institutions                     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
  U.S. Treasury, general account              118,058          0    118,058          0          0          0          0          0          0          0          0          0          0
  U.S. Treasury, supplementary
    financing account                         289,247          0    289,247          0          0          0          0          0          0          0          0          0          0
  Foreign official                              1,190          2      1,160          4          3         11          3          2          0          1          0          1          3
  Other                                        14,085          7     14,003          0          2         62          0          0          9          0          1          0          0
Deferred availability cash items                3,052         78          0        632        445        211        189        325         54        245        129        326        417
Other liabilities and accrued                 
  dividends (12,13)                            33,673        171     30,901        226        213        552        399        303        152        112        125        183        337
   
      Total liabilities                     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
                              
Capital                    
Capital paid in                                21,071        844      5,602      2,315      1,552      5,980      1,612        703        210        324        208        271      1,449
Surplus                                        16,846      1,049      3,009      1,815      1,291      4,999      1,426        816        180        354        193        364      1,351
Other capital                                   4,600          3      2,634        507        239        862        180          9         35          3         22          3        101

      Total liabilities and capital         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' Accounts
Millions of dollars

Federal Reserve notes and collateral                                                              Wednesday
                                                                                                Dec 24, 2008
              
Federal Reserve notes outstanding                                                                1,024,543
  Less: Notes held by F.R. Banks not subject to collateralization                                  174,827
    Federal Reserve notes to be collateralized                                                     849,716 
Collateral held against Federal Reserve notes                                                      849,716
  Gold certificate account                                                                          11,037
  Special drawing rights certificate account                                                         2,200
  U.S. Treasury and agency securities pledged (1)                                                  498,178
  Other assets pledged                                                                             338,301

Memo:
Total U.S. Treasury and agency securities (1)                                                      576,892
  Less: Face value of securities under reverse repurchase agreements                                78,714
    U.S. Treasury and agency securities eligible to be pledged                                     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.`

Statistical releases

---

Home Economic research and data  Accessibility Contact Us  Last update: December 29, 2008