---

`FEDERAL RESERVE statistical release

H.4.1
Factors Affecting Reserve Balances of Depository Institutions and
Condition Statement of Federal Reserve Banks
                                                                                            January 2, 2009
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 31, 2008 Dec 24, 2008  Jan 2, 2008 Dec 31, 2008

Reserve Bank credit                                       2,246,527   +   39,255   +1,354,752    2,248,507
  Securities held outright                                  496,227   +      233   -  244,384      495,629       
    U.S. Treasury (1)                                       475,961   -      106   -  264,650      475,921
      Bills (2)                                              18,423            0   -  209,418       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)                              5,975   -      107   +    1,099        5,936
    Federal agency (2)                                       20,266   +      339   +   20,266       19,708      
  Repurchase agreements (4)                                  80,000            0   +   40,250       80,000
  Term auction credit                                       450,219   +   29,413   +  410,219      450,219  
  Other loans                                               187,770   -    9,098   +  181,983      193,874
    Primary credit                                           86,550   +      290   +   80,780       93,769
    Secondary credit                                             18   -       33   +       18           15
    Seasonal credit                                               4   +        1   -       12            7
    Primary dealer and other broker-dealer credit (5)        38,476   -    7,203   +   38,476       37,404
    Asset-backed commercial paper money market
      mutual fund liquidity facility                         23,797   -    1,061   +   23,797       23,765
    Credit extended to American International
      Group, Inc. (6)                                        38,924   -    1,094   +   38,924       38,914
    Other credit extensions                                       0            0            0            0
  Net portfolio holdings of Commercial Paper 
    Funding Facility LLC (7)                                332,410   +    6,614   +  332,410      334,102
  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)              26,974   +       56   +   26,974       27,023
  Net portfolio holdings of Maiden Lane II LLC (10)          20,059   +       26   +   20,059       20,117
  Net portfolio holdings of Maiden Lane III LLC (11)         27,990   -       95   +   27,990       26,785
  Float                                                        -862   +      305   +      166       -1,491
  Other Federal Reserve assets                              625,741   +   11,802   +  559,086      622,250
Gold stock                                                   11,041            0            0       11,041
Special drawing rights certificate account                    2,200            0            0        2,200
Treasury currency outstanding (12)                           38,857   +       14   +      176       38,857
       
Total factors supplying reserve funds                     2,298,625   +   39,269   +1,354,928    2,300,605

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 31, 2008 Dec 24, 2008  Jan 2, 2008 Dec 31, 2008

Currency in circulation (12)                                888,933   +    7,472   +   59,858      890,081
Reverse repurchase agreements (13)                           84,442   -    3,316   +   42,569       88,352
  Foreign official and international accounts                84,442   -    3,316   +   42,569       88,352
  Dealers                                                         0            0            0            0
Treasury cash holdings                                          250   +       15   -        9          259
Deposits with F.R. Banks, other than reserve balances       397,826   -   27,831   +  381,721      392,420       
  U.S. Treasury, general account                            114,229   -   11,704   +  105,536      106,123
  U.S. Treasury, supplementary financing account            263,600   -   25,647   +  263,600      259,325
  Foreign official                                              505   -      139   +      408        1,365
  Service-related                                             4,386   -       28   -    2,228        4,386
    Required clearing balances                                4,385            0   -    2,229        4,385
    Adjustments to compensate for float                           0   -       29            0            0
  Other                                                      15,106   +    9,688   +   14,405       21,221
Other liabilities and capital (14)                           79,314   -      326   +   36,105       73,880

Total factors, other than reserve balances,                                        
   absorbing reserve funds                                1,450,766   -   23,984   +  520,244    1,444,993

Reserve balances with Federal Reserve Banks                 847,859   +   63,252   +  834,684      855,613
                                                                
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 31, 2008 Dec 24, 2008  Jan 2, 2008 Dec 31, 2008

Marketable securities held in custody for foreign
      official and international accounts (1)             2,516,463   +    6,771   +  455,576    2,521,960
  U.S. Treasury                                           1,699,437   +   14,740   +  468,596    1,707,443
  Federal agency                                            817,026   -    7,969   -   13,020      814,517
Securities lent to dealers                                  179,662   -    4,904   +  163,158      180,765   
  Overnight facility (2)                                      6,491   -      479   -   10,013        9,165
  Term facility (3)                                         173,171   -    4,425   +  173,171      171,600

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 31, 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                  244,809     205,410         ---          ---           ---        ---     450,219
Other loans (1)                      133,040      21,921            0      38,914           ---        ---     193,874
U.S. Treasury securities (2) 
  Holdings                            19,138      20,965       63,330     173,328        97,325    101,834     475,921
  Weekly changes                  +    1,837  -    2,015   -    1,148  +    1,290    -       20 -       37  -       93
Federal agency securities 
  Holdings                               450       3,281          976      11,361         3,640          0      19,708
  Weekly changes                  -    1,170           0            0           0             0          0  -    1,170
Commercial paper held by
  Commercial Paper Funding 
  Facility LLC (3)                         0     334,415            0         ---           ---        ---     334,415
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)     88,352           0          ---         ---           ---        ---      88,352
  
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 31, 2008
         
Net portfolio holdings of Maiden Lane LLC (1)                                                       27,023

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)                                   267
Outstanding principal amount and accrued interest on loan payable to JPMorgan Chase & Co. (3)        1,188
 
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 valuation 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 31, 2008

Net portfolio holdings of Maiden Lane II LLC (1)                                                     20,117

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)                                     27
Deferred payment and accrued interest payable to subsidiaries of American International 
  Group, Inc. (3)                                                                                     1,003

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 valuation 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 subsidiaries of American International Group, Inc. 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 31, 2008

Net portfolio holdings of Maiden Lane III LLC (1)                                                    26,785

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)                                     45
Outstanding principal amount and accrued interest on loan payable to American International
  Group, Inc. (3)                                                                                     5,022

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 valuation 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 31, 2008

Commercial paper holdings, net (1)                                                                  332,826
Other investments, net                                                                                1,276
Net portfolio holdings of Commercial Paper Funding Facility LLC                                     334,102

Memorandum: Commercial paper holdings, face value                                                   334,415

Outstanding principal amount of loan extended by the Federal Reserve Bank of New York (2)           332,399
Accrued interest payable to the Federal Reserve Bank of New York (2)                                    620

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 31, 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 31, 2008     Dec 24, 2008      Jan 2, 2008

Assets
Gold certificate account                                           11,037                0                0
Special drawing rights certificate account                          2,200                0                0
Coin                                                                1,688       +        8       +      519
Securities, repurchase agreements, term auction
      credit, and other loans                                   1,219,723       +    5,982       +  377,423
  Securities held outright                                        495,629       -    1,263       -  244,998
    U.S. Treasury (1)                                             475,921       -       93       -  264,706       
      Bills (2)                                                    18,423                0       -  209,418
      Notes and bonds, nominal (2)                                410,491                0       -   60,493
      Notes and bonds, inflation-indexed (2)                       41,071                0       +    4,160
      Inflation compensation (3)                                    5,936       -       93       +    1,044
    Federal agency (2)                                             19,708       -    1,170       +   19,708
  Repurchase agreements (4)                                        80,000                0       +   23,250    
  Term auction credit                                             450,219                0       +  410,219
  Other loans                                                     193,874       +    7,244       +  188,951
Net portfolio holdings of Commercial Paper 
  Funding Facility LLC (5)                                        334,102       +    2,416       +  334,102
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)                      27,023       +       57       +   27,023
Net portfolio holdings of Maiden Lane II LLC (8)                   20,117       +       68       +   20,117
Net portfolio holdings of Maiden Lane III LLC (9)                  26,785       -    1,406       +   26,785
Items in process of collection                         (397)          979       -      224       -    1,171
Bank premises                                                       2,194       +        8       +       60
Other assets (10)                                                 620,057       +      250       +  555,346
     
      Total assets                                     (397)    2,265,904       +    7,160       +1,340,203
                          
Liabilities
Federal Reserve notes, net of F.R. Bank holdings                  853,168       +    3,452       +   61,484
Reverse repurchase agreements (11)                                 88,352       +       35       +   47,443
Deposits                                                 (0)    1,248,034       +    6,050       +1,200,590       
  Depository institutions                                         860,000       +   40,596       +  820,231
  U.S. Treasury, general account                                  106,123       -   11,935       +   98,846
  U.S. Treasury, supplementary financing account                  259,325       -   29,922       +  259,325
  Foreign official                                                  1,365       +      175       +    1,267
  Other                                                  (0)       21,221       +    7,136       +   20,919
Deferred availability cash items                       (397)        2,471       -       66       -      726
Other liabilities and accrued dividends (12,13)                    31,728       -    1,945       +   26,479

      Total liabilities                                (397)    2,223,753       +    7,526       +1,335,269
                          
Capital accounts
Capital paid in                                                    21,076       +        5       +    2,630
Surplus                                                            21,076       +    4,230       +    2,774
Other capital accounts                                                  0       -    4,600       -      470

      Total capital                                                42,152       -      365       +    4,935

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 31, 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                                           1,688         56         76        137        136        233        214        194         43         54        114        180        252
Securities, repurchase agreements, term
      auction credit, and other loans      1,219,723     64,302    581,788     63,762     37,450    127,779     74,979     57,726     25,044     16,727     28,446     28,905    112,814
  Securities held outright                   495,629     20,789    176,342     21,640     18,794     44,943     49,314     43,744     17,127      9,357     18,198     20,559     54,822
    U.S. Treasury (1)                        475,921     19,962    169,330     20,779     18,047     43,156     47,353     42,005     16,446      8,985     17,475     19,742     52,642
      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)                    457,499     19,189    162,775     19,975     17,348     41,485     45,520     40,379     15,810      8,637     16,798     18,977     50,604
    Federal agency (2)                        19,708        827      7,012        860        747      1,787      1,961      1,739        681        372        724        818      2,180
  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                                193,874     24,008    156,549        329         48        452        483      1,828        454        124      4,570        692      4,338
Net portfolio holdings of Commercial
  Paper Funding Facility LLC (5)             334,102          0    334,102          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)                                     27,023          0     27,023          0          0          0          0          0          0          0          0          0          0
Net portfolio holdings of Maiden
  Lane II LLC (8)                             20,117          0     20,117          0          0          0          0          0          0          0          0          0          0
Net portfolio holdings of Maiden
  Lane III LLC (9)                            26,785          0     26,785          0          0          0          0          0          0          0          0          0          0
Items in process of collection                 1,377         41          0        237        164         41        325        111         17         76         14        152        199
Bank premises                                  2,194        123        212         65        147        233        225        209        132        112        273        251        213
Other assets (10)                            620,057     35,164    156,647     60,124     42,930    165,342     48,048     28,083      6,422     11,927      6,915     12,551     45,904
Interdistrict settlement account                   0  -  11,458  + 128,630  -  68,758  +  15,073  - 170,409  +  17,429  +  34,045  +   3,065  -  10,052  +   5,043  +  10,202  +  47,191

      Total assets                         2,266,302     88,767  1,280,188     56,101     96,428    124,258    142,607    121,492     35,138     19,074     41,219     52,975    208,055

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 31, 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           1,022,849     38,508    357,560     41,373     46,622     81,122    128,631     83,472     29,417     17,613     30,098     55,431    113,003
  Less: Notes held by F.R. Banks              169,682      5,409     46,609      5,013      7,240     11,552     24,156     12,938      3,405      2,839      3,536     20,767     26,219
    Federal Reserve notes, net                853,168     33,099    310,951     36,360     39,381     69,571    104,475     70,534     26,012     14,774     26,562     34,664     86,784
Reverse repurchase agreements (11)             88,352      3,706     31,435      3,858      3,350      8,012      8,791      7,798      3,053      1,668      3,244      3,665      9,773
Deposits                                    1,248,034     50,057    897,177     10,584     49,967     34,147     25,610     41,147      5,460      1,652     10,784     13,638    107,810
  Depository institutions                     860,000     49,810    509,858     10,565     49,963     34,057     25,593     41,013      5,446      1,614     10,769     13,533    107,779
  U.S. Treasury, general account              106,123          0    106,123          0          0          0          0          0          0          0          0          0          0
  U.S. Treasury, supplementary
    financing account                         259,325          0    259,325          0          0          0          0          0          0          0          0          0          0
  Foreign official                              1,365          2      1,335          4          3         11          3          2          0          1          0          1          3
  Other                                        21,221        246     20,536         15          1         79         13        133         14         38         14        104         29
Deferred availability cash items                2,868         69          0        515        456        172        158        323         47        235        102        296        495
Other liabilities and accrued                 
  dividends (12,13)                            31,728        147     29,410        154        168        397        349        283        147         96        112        171        296
   
      Total liabilities                     2,224,150     87,078  1,268,973     51,471     93,323    112,297    139,383    120,085     34,718     18,425     40,804     52,433    205,158
                              
Capital                    
Capital paid in                                21,076        844      5,607      2,315      1,552      5,980      1,612        703        210        324        208        271      1,449
Surplus                                        21,076        844      5,607      2,315      1,552      5,980      1,612        703        210        324        208        271      1,449
Other capital                                       0          0          0          0          0          0          0          0          0          0          0          0          0

      Total liabilities and capital         2,266,302     88,767  1,280,188     56,101     96,428    124,258    142,607    121,492     35,138     19,074     41,219     52,975    208,055
                              
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 31, 2008
              
Federal Reserve notes outstanding                                                                1,022,849
  Less: Notes held by F.R. Banks not subject to collateralization                                  169,682
    Federal Reserve notes to be collateralized                                                     853,168 
Collateral held against Federal Reserve notes                                                      853,168
  Gold certificate account                                                                          11,037
  Special drawing rights certificate account                                                         2,200
  U.S. Treasury and agency securities pledged (1)                                                  496,733
  Other assets pledged                                                                             343,198

Memo:
Total U.S. Treasury and agency securities (1)                                                      575,629
  Less: Face value of securities under reverse repurchase agreements                                78,896
    U.S. Treasury and agency securities eligible to be pledged                                     496,733
   
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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