---

`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.


1


FEDERAL RESERVE statistical release

H.4.1
Factors Affecting Reserve Balances of Depository Institutions and
Condition Statement of Federal Reserve Banks
                                                                                           October 30, 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                                    Oct 29, 2008 Oct 22, 2008 Oct 31, 2007 Oct 29, 2008

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. Treasury (1)                                       476,485   -       43   -  303,083      476,469
      Bills (2)                                              18,423            0   -  248,596       18,423
      Notes and bonds, nominal (2)                          410,757            0   -   61,220      410,757
      Notes and bonds, inflation-indexed (2)                 40,806            0   +    4,888       40,806
      Inflation compensation (3)                              6,499   -       43   +    1,845        6,484
    Federal agency (2)                                       13,897   -      208   +   13,897       13,620      
  Repurchase agreements (4)                                  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 credit (5)        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 LLC (6)                                 40,819   +   40,819   +   40,819      144,808
  Net portfolio holdings of Maiden Lane LLC (7)              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 outstanding (8)                            38,787   +       14   +       92       38,787
       
Total factors supplying reserve funds                     1,924,976   +   69,662   +1,010,406    2,005,515
Note: Components may not sum to totals because of rounding.  Footnotes appear on the following page.


H.4.1
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                                    Oct 29, 2008 Oct 22, 2008 Oct 31, 2007 Oct 29, 2008

Currency in circulation (8)                                 857,448   +    2,931   +   44,366      860,588
Reverse repurchase agreements (9)                            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 capital (10)                           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
                                                                
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.


1A. Memorandum Items 
Millions of dollars
                                                                   Averages of daily figures
Memorandum item                                           Week ended   Change from week ended     Wednesday
                                                         Oct 29, 2008 Oct 22, 2008 Oct 31, 2007 Oct 29, 2008

Marketable securities held in custody for foreign
      official and international accounts (1)             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 facility (2)                                     25,067   -      564   +   16,969       21,520
  Term facility (3)                                         197,499            0   +  197,499      197,499

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,   October 29, 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                   25,000     276,363         ---          ---           ---        ---     301,363
Other loans (1)                      185,095     108,644       10,176      65,848           ---        ---     369,763
U.S. Treasury securities (2) 
  Holdings                            15,320      30,724       61,340     173,435        94,317    101,333     476,469
  Weekly changes                  -    3,520  +    3,517            0  -       14    -       10 -       17  -       43
Federal agency securities 
  Holdings                               651       9,235        3,734           0             0          0      13,620
  Weekly changes                  -      219  +      227   -      493           0             0          0  -      485
Commercial paper held by
  Commercial Paper Funding 
  Facility LLC (3)                         0     145,713            0         ---           ---        ---     145,713
Repurchase agreements (4)             40,000      40,000          ---         ---           ---        ---      80,000

Reverse repurchase agreements (4)     94,655           0          ---         ---           ---        ---      94,655
  
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.


H.4.1
3. Information on Principal Accounts of Maiden Lane LLC
Millions of dollars
                                                                                                  Wednesday
Account name                                                                                    Oct 29, 2008
         
Net portfolio holdings of Maiden Lane LLC (1)                                                       26,848

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)                                   214
Outstanding principal amount and accrued interest on loan payable to JPMorgan Chase & Co. (3)        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.


4. Information on Principal Accounts of Commercial Paper Funding Facility LLC
Millions of dollars
                                                                                                   Wednesday
Account name                                                                                     Oct 29, 2008

Commercial paper holdings, net (1)                                                                  143,914
Other investments, net                                                                                  894
Net portfolio holdings of Commercial Paper Funding Facility LLC                                     144,808

Memorandum: Commercial paper holdings, face value                                                   145,713

Outstanding principal amount of loan extended by the Federal Reserve Bank of New York (2)           144,777
Accrued interest payable to the Federal Reserve Bank of New York (2)                                      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 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.


H.4.1
5. Consolidated Statement of Condition of All Federal Reserve Banks
Millions of dollars
                                                 Eliminations                          Change since
                                                     from       Wednesday        Wednesday        Wednesday
Assets, liabilities, and capital                consolidation Oct 29, 2008     Oct 22, 2008     Oct 31, 2007

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. Treasury (1)                                             476,469       -       43       -  303,117       
      Bills (2)                                                    18,423                0       -  248,596
      Notes and bonds, nominal (2)                                410,757                0       -   60,227
      Notes and bonds, inflation-indexed (2)                       40,806                0       +    3,895
      Inflation compensation (3)                                    6,484       -       42       +    1,812
    Federal agency (2)                                             13,620       -      485       +   13,620
  Repurchase agreements (4)                                        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 LLC (5)                                        144,808       +  144,808       +  144,808
Net portfolio holdings of Maiden Lane LLC (6)                      26,848       +       46       +   26,848
Items in process of collection                         (358)        1,083       +       79       -    1,127
Bank premises                                                       2,174       +        2       +       56
Other assets (7)                                                  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 agreements (8)                                  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 dividends (9,10)                      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

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 exchange rates. 
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.


H.4.1
6. Statement of Condition of Each Federal Reserve Bank,   October 29, 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                                           1,645         51         76        129        133        220        217        189         47         55        114        183        232
Securities, repurchase agreements, term
      auction credit, and other loans      1,241,215    134,465    587,368     31,515     37,980    136,108     72,479     59,734     22,914     16,023     25,753     27,843     89,034
  Securities held outright                   490,089     20,556    174,371     21,398     18,584     44,441     48,763     43,255     16,936      9,252     17,995     20,329     54,209
    U.S. Treasury (1)                        476,469     19,985    169,525     20,803     18,068     43,205     47,408     42,053     16,465      8,995     17,495     19,764     52,703
      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)                    458,047     19,212    162,970     19,999     17,369     41,535     45,575     40,427     15,828      8,647     16,818     19,000     50,665
    Federal agency (2)                        13,620        571      4,846        595        516      1,235      1,355      1,202        471        257        500        565      1,507
  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                        301,363     14,500    140,138      2,505     15,860     69,047     15,515      7,467      3,000      5,060        670      3,506     24,095     
  Other loans                                369,763     96,053    244,396      4,119        502     15,366        241      1,951        214        200      4,150        690      1,881
Net portfolio holdings of Commercial
  Paper Funding Facility LLC (5)             144,808          0    144,808          0          0          0          0          0          0          0          0          0          0
Net portfolio holdings of Maiden Lane 
      LLC (6)                                 26,848          0     26,848          0          0          0          0          0          0          0          0          0          0
Items in process of collection                 1,441         33          0        203        194         93        279         27          9        131         82        109        279
Bank premises                                  2,174        122        211         64        150        217        226        207        130        111        275        252        210
Other assets (7)                             539,670     30,171    142,881     51,363     36,712    141,202     41,228     24,153      5,561     10,215      5,987     10,809     39,390
Interdistrict settlement account                   0  -  79,469  + 268,914  -  31,948  -  20,558  - 114,218  -   4,767  +   1,416  +   3,771  -   8,544  +   4,924  +   1,270  -  20,790

      Total assets                         1,971,038     85,912  1,175,914     51,862     55,139    164,659    111,048     86,851     32,847     18,220     37,549     41,199    109,838

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 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 Maiden Lane LLC, a limited liability company 
formed to acquire certain assets of Bear Stearns.  The FRBNY is the primary beneficiary of Maiden Lane LLC.  Consistent with generally accepted accounting principles, the assets and 
liabilities of 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 release.  As a consequence 
of the consolidation, 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 1 and table 5), 
and the liabilities of 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 liabilities on 
the next page (and in table 1 and table 5). 

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 Act 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.  The FRBNY is 
the sole beneficiary of CPFF LLC.  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 this release.  As a consequence of the consolidation, the extension of credit from the FRBNY to CPFF LLC is 
eliminated; the net assets of CPFF LLC appear as 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 page (and table 1 and table 5). 


6. Statement of Condition of Each Federal Reserve Bank,   October 29, 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             996,782     38,468    351,224     42,398     44,935     82,232    120,284     80,137     29,703     17,383     30,429     54,578    105,010
  Less: Notes held by F.R. Banks              173,069      5,626     41,278      6,032      7,914     11,679     28,642     13,040      3,402      2,731      3,425     23,131     26,168
    Federal Reserve notes, net                823,713     32,842    309,946     36,366     37,021     70,554     91,642     67,097     26,301     14,652     27,003     31,447     78,842
Reverse repurchase agreements (8)              94,655      3,970     33,678      4,133      3,589      8,583      9,418      8,354      3,271      1,787      3,476      3,926     10,470
Deposits                                    1,005,698     46,959    821,463      5,997     10,807     73,539      6,066      9,347      2,717        760      6,404      4,747     16,890
  Depository institutions                     425,972     46,929    241,944      5,993     10,803     73,408      6,063      9,344      2,692        760      6,402      4,746     16,887
  U.S. Treasury, general account               19,484          0     19,484          0          0          0          0          0          0          0          0          0          0
  U.S. Treasury, supplementary
    financing account                         558,864          0    558,864          0          0          0          0          0          0          0          0          0          0
  Foreign official                                187          2        157          4          3         11          3          2          0          1          0          1          3
  Other                                         1,192         28      1,015          0          1        121          0          0         24          0          1          1          0
Deferred availability cash items                2,675         50          0        492        428        291        244        195         24        219        104        240        388
Other liabilities and accrued                 
  dividends (9,10)                              3,879        167      1,168        205        200        523        397        305        153        108        130        180        343
   
      Total liabilities                     1,930,620     83,988  1,166,255     47,192     52,046    153,490    107,768     85,297     32,466     17,527     37,117     40,541    106,933
                              
Capital                    
Capital paid in                                20,314        784      5,162      2,331      1,525      5,832      1,602        685        182        323        206        268      1,413
Surplus                                        18,335      1,050      4,497      1,814      1,291      4,999      1,426        816        180        355        193        364      1,351
Other capital                                   1,769         89          0        524        278        337        253         53         19         15         33         26        141

      Total liabilities and capital         1,971,038     85,912  1,175,914     51,862     55,139    164,659    111,048     86,851     32,847     18,220     37,549     41,199    109,838
                              
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, including liabilities that have 
    recourse only to the portfolio holdings of these entities.  Refer to the notes on consolidation on the previous page.


H.4.1
7. Collateral Held against Federal Reserve Notes: Federal Reserve Agents' Accounts
Millions of dollars

Federal Reserve notes and collateral                                                              Wednesday
                                                                                                Oct 29, 2008
              
Federal Reserve notes outstanding                                                                  996,782
  Less: Notes held by F.R. Banks not subject to collateralization                                  173,069
    Federal Reserve notes to be collateralized                                                     823,713 
Collateral held against Federal Reserve notes                                                      823,713
  Gold certificate account                                                                          11,037
  Special drawing rights certificate account                                                         2,200
  U.S. Treasury and agency securities pledged (1)                                                  480,457
  Other assets pledged                                                                             330,019

Memo:
Total U.S. Treasury and agency securities (1)                                                      570,089
  Less: Face value of securities under reverse repurchase agreements                                89,632
    U.S. Treasury and agency securities eligible to be pledged                                     480,457
   
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

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