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.