FEDERAL RESERVE statistical release H.4.1 Factors Affecting Reserve Balances of Depository Institutions and Condition Statement of Federal Reserve Banks January 22, 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 Jan 21, 2009 Jan 14, 2009 Jan 23, 2008 Jan 21, 2009 Reserve Bank credit 2,049,246 - 19,936 +1,187,606 2,022,600 Securities held outright 505,323 + 7,834 - 217,975 505,470 U.S. Treasury securities (1) 475,381 - 208 - 247,917 475,322 Bills (2) 18,423 0 - 191,937 18,423 Notes and bonds, nominal (2) 412,914 + 2,423 - 58,070 412,914 Notes and bonds, inflation-indexed (2) 39,378 - 1,693 + 1,915 39,378 Inflation compensation (3) 4,667 - 937 + 176 4,608 Federal agency debt securities (2) 24,158 + 3,800 + 24,158 24,158 Mortgage-backed securities (4) 5,784 + 4,242 + 5,784 5,991 Repurchase agreements (5) 37,143 - 20,000 + 15,643 20,000 Term auction credit 416,031 + 44,644 + 366,031 416,031 Other loans 148,298 - 12,425 + 147,546 149,324 Primary credit 61,618 - 7,483 + 60,874 62,898 Secondary credit 74 + 33 + 74 28 Seasonal credit 1 + 1 - 7 1 Primary dealer and other broker-dealer credit (6) 32,679 - 1,011 + 32,679 33,290 Asset-backed Commercial Paper Money Market Mutual Fund Liquidity Facility 15,482 - 3,285 + 15,482 14,775 Credit extended to American International Group, Inc. (7) 38,445 - 679 + 38,445 38,333 Other credit extensions 0 0 0 0 Net portfolio holdings of Commercial Paper Funding Facility LLC (8) 349,940 + 15,358 + 349,940 350,524 Net portfolio holdings of LLCs funded through the Money Market Investor Funding Facility (9) 0 0 0 0 Net portfolio holdings of Maiden Lane LLC (10) 27,131 + 61 + 27,131 27,181 Net portfolio holdings of Maiden Lane II LLC (11) 19,802 + 7 + 19,802 19,813 Net portfolio holdings of Maiden Lane III LLC (12) 26,946 + 57 + 26,946 26,967 Float -1,550 - 158 - 269 -2,711 Other Federal Reserve assets 520,184 - 55,313 + 452,814 510,002 Gold stock 11,041 0 0 11,041 Special drawing rights certificate account 2,200 0 0 2,200 Treasury currency outstanding (13) 38,772 + 14 + 92 38,772 Total factors supplying reserve funds 2,101,259 - 19,922 +1,187,698 2,074,613 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 Jan 21, 2009 Jan 14, 2009 Jan 23, 2008 Jan 21, 2009 Currency in circulation (13) 882,313 + 1,196 + 70,265 884,900 Reverse repurchase agreements (14) 76,254 - 5,443 + 36,549 75,025 Foreign official and international accounts 76,254 - 5,443 + 36,549 75,025 Dealers 0 0 0 0 Treasury cash holdings 274 + 6 - 14 286 Deposits with F.R. Banks, other than reserve balances 241,334 - 5,752 + 228,894 256,897 U.S. Treasury, general account 35,510 - 1,316 + 30,175 46,705 U.S. Treasury, supplementary financing account 199,747 + 61 + 199,747 199,747 Foreign official 191 - 34 + 89 187 Service-related 4,401 + 14 - 2,278 4,401 Required clearing balances 4,401 + 14 - 2,278 4,401 Adjustments to compensate for float 0 0 0 0 Other 1,485 - 4,477 + 1,160 5,857 Other liabilities and capital (15) 57,869 - 5,520 + 15,318 53,580 Total factors, other than reserve balances, absorbing reserve funds 1,258,042 - 15,516 + 351,009 1,270,688 Reserve balances with Federal Reserve Banks 843,217 - 4,407 + 836,688 803,925 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. Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. Current face value of the securities, which is the remaining principal balance of the underlying mortgages. 5. Cash value of agreements. 6. Includes credit extended through the Primary Dealer Credit Facility and credit extended to certain other broker-dealers. 7. Excludes credit extended to consolidated LLCs. 8. Refer to table 6 and the note on consolidation accompanying table 9. 9. Refer to table 7 and the note on consolidation accompanying table 9. 10. Refer to table 3 and the note on consolidation accompanying table 9. 11. Refer to table 4 and the note on consolidation accompanying table 9. 12. Refer to table 5 and the note on consolidation accompanying table 9. 13. Estimated. 14. Cash value of agreements, which are collateralized by U.S. Treasury securities. 15. 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 Jan 21, 2009 Jan 14, 2009 Jan 23, 2008 Jan 21, 2009 Marketable securities held in custody for foreign official and international accounts (1) 2,541,299 + 13,316 + 445,532 2,541,396 U.S. Treasury securities 1,735,051 + 19,917 + 483,949 1,734,876 Federal agency securities (2) 806,248 - 6,601 - 38,417 806,520 Securities lent to dealers 140,802 + 33 + 130,369 141,072 Overnight facility (3) 7,702 - 188 - 2,731 7,972 Term facility (4) 133,100 + 221 + 133,100 133,100 Note: Components may not sum to totals because of rounding. 1. Face value of the securities. Includes U.S. Treasury STRIPS, other zero-coupon bonds, and mortgage-backed securities at face value. 2. Includes debt and mortgage-backed securities. 3. Fully collateralized by U.S. Treasury securities. 4. 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, January 21, 2009 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 138,899 277,132 --- --- --- --- 416,031 Other loans (1) 92,566 18,425 0 38,333 --- --- 149,324 U.S. Treasury securities (2) Holdings 15,456 21,090 66,655 173,147 97,383 101,591 475,322 Weekly changes - 5,019 + 1,488 + 3,325 - 826 + 921 - 81 - 193 Federal agency debt securities (3) Holdings 643 2,638 1,044 14,324 5,509 0 24,158 Weekly changes + 150 - 150 + 68 - 68 0 0 0 Mortgage-backed securities (4) Holdings 0 0 0 0 0 5,991 5,991 Weekly changes 0 0 0 0 0 + 357 + 357 Commercial paper held by Commercial Paper Funding Facility LLC (5) 248,227 102,025 0 --- --- --- 350,252 Money market instruments held by LLCs funded through the Money Market Investor Funding Facility (6) 0 0 0 --- --- --- 0 Repurchase agreements (7) 20,000 0 --- --- --- --- 20,000 Reverse repurchase agreements (7) 75,025 0 --- --- --- --- 75,025 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. Face value. For inflation-indexed securities, includes the original face value and compensation that adjusts for the effect of inflation on the original face value of such securities. 3. Face value. 4. Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. Current face value of the securities, which is the remaining principal balance of the underlying mortgages. 5. Face value of commercial paper held by Commercial Paper Funding Facility LLC. 6. Face value of money market instruments held by LLCs funded through the Money Market Investor Funding Facility. 7. Cash value of agreements. 3. Information on Principal Accounts of Maiden Lane LLC Millions of dollars Wednesday Account name Jan 21, 2009 Net portfolio holdings of Maiden Lane LLC (1) 27,181 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) 276 Outstanding principal amount and accrued interest on loan payable to JPMorgan Chase & Co. (3) 1,191 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 Jan 21, 2009 Net portfolio holdings of Maiden Lane II LLC (1) 19,813 Outstanding principal amount of loan extended by the Federal Reserve Bank of New York (2) 19,169 Accrued interest payable to the Federal Reserve Bank of New York (2) 44 Deferred payment and accrued interest payable to subsidiaries of American International Group, Inc. (3) 1,005 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 Jan 21, 2009 Net portfolio holdings of Maiden Lane III LLC (1) 26,967 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) 66 Outstanding principal amount and accrued interest on loan payable to American International Group, Inc. (3) 5,032 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 Jan 21, 2009 Commercial paper holdings, net (1) 349,239 Other investments, net 1,285 Net portfolio holdings of Commercial Paper Funding Facility LLC 350,524 Memorandum: Commercial paper holdings, face value 350,252 Outstanding principal amount of loan extended by the Federal Reserve Bank of New York (2) 348,176 Accrued interest payable to the Federal Reserve Bank of New York (2) 847 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 Jan 21, 2009 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: 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 (MMIFF). The MMIFF became operational on November 24, 2008. 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 Jan 21, 2009 Jan 14, 2009 Jan 23, 2008 Assets Gold certificate account 11,037 0 0 Special drawing rights certificate account 2,200 0 0 Coin 1,789 + 45 + 495 Securities, repurchase agreements, term auction credit, and other loans 1,090,825 + 18,976 + 295,490 Securities held outright 505,470 + 164 - 217,845 U.S. Treasury securities (1) 475,322 - 193 - 247,993 Bills (2) 18,423 0 - 191,937 Notes and bonds, nominal (2) 412,914 + 2,423 - 58,070 Notes and bonds, inflation-indexed (2) 39,378 - 1,693 + 1,915 Inflation compensation (3) 4,608 - 921 + 100 Federal agency debt securities (2) 24,158 0 + 24,158 Mortgage-backed securities (4) 5,991 + 357 + 5,991 Repurchase agreements (5) 20,000 - 20,000 - 2,000 Term auction credit 416,031 + 44,734 + 366,031 Other loans 149,324 - 5,921 + 149,304 Net portfolio holdings of Commercial Paper Funding Facility LLC (6) 350,524 + 15,819 + 350,524 Net portfolio holdings of LLCs funded through the Money Market Investor Funding Facility (7) 0 0 0 Net portfolio holdings of Maiden Lane LLC (8) 27,181 + 59 + 27,181 Net portfolio holdings of Maiden Lane II LLC (9) 19,813 + 13 + 19,813 Net portfolio holdings of Maiden Lane III LLC (10) 26,967 + 25 + 26,967 Items in process of collection (643) 1,563 + 291 - 1,125 Bank premises 2,184 + 1 + 47 Other assets (11) 507,791 - 51,799 + 442,570 Total assets (643) 2,041,874 - 16,570 +1,161,962 Note: Components may not sum to totals because of rounding. Footnotes appear on the following page. 8. Consolidated Statement of Condition of All Federal Reserve Banks (continued) Millions of dollars Eliminations Change since from Wednesday Wednesday Wednesday Assets, liabilities, and capital consolidation Jan 21, 2009 Jan 14, 2009 Jan 23, 2008 Liabilities Federal Reserve notes, net of F.R. Bank holdings 848,198 + 4,126 + 73,486 Reverse repurchase agreements (12) 75,025 - 3,811 + 37,530 Deposits (0) 1,060,796 - 15,182 +1,039,541 Depository institutions 808,299 - 19,210 + 792,315 U.S. Treasury, general account 46,705 + 15,532 + 41,834 U.S. Treasury, supplementary financing account 199,747 + 61 + 199,747 Foreign official 187 - 24 + 90 Other (0) 5,857 - 11,542 + 5,553 Deferred availability cash items (643) 4,274 + 1,416 + 41 Other liabilities and accrued dividends (13,14) 11,820 - 2,480 + 7,349 Total liabilities (643) 2,000,114 - 15,931 +1,157,947 Capital accounts Capital paid in 21,514 + 432 + 3,049 Surplus 19,413 - 1,498 + 969 Other capital accounts 834 + 428 - 2 Total capital 41,760 - 640 + 4,015 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. Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. Current face value of the securities, which is the remaining principal balance of the underlying mortgages. 5. Cash value of agreements, which are collateralized by U.S. Treasury and federal agency securities. 6. Refer to table 6 and the note on consolidation accompanying table 9. 7. Refer to table 7 and the note on consolidation accompanying table 9. 8. Refer to table 3 and the note on consolidation accompanying table 9. 9. Refer to table 4 and the note on consolidation accompanying table 9. 10. Refer to table 5 and the note on consolidation accompanying table 9. 11. Includes assets denominated in foreign currencies and any exchange-translation assets, which are revalued daily at market exchange rates. 12. Cash value of agreements, which are collateralized by U.S. Treasury securities. 13. Includes any exchange-translation liabilities, which are revalued daily at market exchange rates. 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. 9. Statement of Condition of Each Federal Reserve Bank, January 21, 2009 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 1,789 59 79 145 147 245 227 205 47 58 122 189 266 Securities, repurchase agreements, term auction credit, and other loans 1,090,825 49,757 520,044 64,906 30,492 126,491 66,934 53,858 21,690 15,884 23,321 27,596 89,851 Securities held outright 505,470 21,201 179,843 22,070 19,167 45,835 50,293 44,613 17,467 9,543 18,560 20,967 55,911 U.S. Treasury securities (1) 475,322 19,937 169,117 20,753 18,024 43,101 47,294 41,952 16,425 8,974 17,453 19,717 52,576 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) 456,899 19,164 162,562 19,949 17,325 41,431 45,461 40,326 15,789 8,626 16,776 18,953 50,538 Federal agency debt securities (2) 24,158 1,013 8,595 1,055 916 2,191 2,404 2,132 835 456 887 1,002 2,672 Mortgage-backed securities (4) 5,991 251 2,131 262 227 543 596 529 207 113 220 248 663 Repurchase agreements (5) 20,000 839 7,116 873 758 1,814 1,990 1,765 691 378 734 830 2,212 Term auction credit 416,031 12,650 207,683 41,750 10,552 78,208 14,296 5,219 3,038 5,700 2,685 4,708 29,543 Other loans 149,324 15,067 125,402 214 14 634 355 2,262 493 264 1,342 1,091 2,185 Net portfolio holdings of Commercial Paper Funding Facility LLC (6) 350,524 0 350,524 0 0 0 0 0 0 0 0 0 0 Net portfolio holdings of LLCs funded through the Money Market Investor Funding Facility (7) 0 0 0 0 0 0 0 0 0 0 0 0 0 Net portfolio holdings of Maiden Lane LLC (8) 27,181 0 27,181 0 0 0 0 0 0 0 0 0 0 Net portfolio holdings of Maiden Lane II LLC (9) 19,813 0 19,813 0 0 0 0 0 0 0 0 0 0 Net portfolio holdings of Maiden Lane III LLC (10) 26,967 0 26,967 0 0 0 0 0 0 0 0 0 0 Items in process of collection 2,206 120 0 336 232 56 261 262 44 110 65 397 324 Bank premises 2,184 124 210 65 147 228 225 207 130 112 273 250 212 Other assets (11) 507,791 28,719 128,810 49,051 35,001 134,611 39,443 23,167 5,362 9,759 5,773 10,373 37,721 Interdistrict settlement account 0 - 16,883 + 9,390 - 60,391 + 18,603 - 64,867 + 27,347 + 27,740 + 7,078 - 7,493 + 6,968 + 7,545 + 44,965 Total assets 2,042,517 62,435 1,087,828 54,648 85,149 197,802 135,823 106,563 34,766 18,658 36,938 47,085 174,822 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. Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. Current face value of the securities, which is the remaining principal balance of the underlying mortgages. 5. Cash value of agreements, which are collateralized by U.S. Treasury and federal agency securities. 6. Refer to table 6 and the note on consolidation on the following page. 7. Refer to table 7 and the note on consolidation on the following page. 8. Refer to table 3 and the note on consolidation on the following page. 9. Refer to table 4 and the note on consolidation on the following page. 10. Refer to table 5 and the note on consolidation on the following page. 11. 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, January 21, 2009 (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 1,024,646 38,062 358,244 41,162 46,328 80,648 129,859 83,737 29,252 17,501 29,749 57,596 112,510 Less: Notes held by F.R. Banks 176,447 5,950 43,317 5,696 8,294 12,801 25,055 14,454 3,923 3,122 3,804 21,436 28,595 Federal Reserve notes, net 848,198 32,112 314,927 35,466 38,033 67,846 104,803 69,283 25,329 14,379 25,945 36,160 83,915 Reverse repurchase agreements (12) 75,025 3,147 26,694 3,276 2,845 6,803 7,465 6,622 2,593 1,416 2,755 3,112 8,299 Deposits 1,060,796 25,172 725,870 10,343 40,355 110,568 19,608 28,351 6,114 1,771 7,455 6,647 78,543 Depository institutions 808,299 25,159 473,562 10,335 40,350 110,424 19,605 28,347 6,108 1,770 7,453 6,646 78,540 U.S. Treasury, general account 46,705 0 46,705 0 0 0 0 0 0 0 0 0 0 U.S. Treasury, supplementary financing account 199,747 0 199,747 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 5,857 10 5,699 4 2 134 0 1 5 0 1 0 0 Deferred availability cash items 4,918 153 0 777 666 328 364 593 160 333 249 441 855 Other liabilities and accrued dividends (13,14) 11,820 151 9,452 168 169 406 340 293 149 102 118 175 296 Total liabilities 2,000,757 60,734 1,076,943 50,029 82,067 185,951 132,580 105,142 34,344 18,001 36,521 46,536 171,908 Capital Capital paid in 21,514 845 6,030 2,315 1,552 5,981 1,612 705 210 335 208 271 1,449 Surplus 19,413 844 4,091 2,304 1,529 5,870 1,612 703 210 322 208 271 1,449 Other capital 834 11 764 0 0 0 19 13 2 0 1 7 16 Total liabilities and capital 2,042,517 62,435 1,087,828 54,648 85,149 197,802 135,823 106,563 34,766 18,658 36,938 47,085 174,822 Note: Components may not sum to totals because of rounding. 12. Cash value of agreements, which are collateralized by U.S. Treasury securities. 13. Includes any exchange-translation liabilities, which are revalued daily at market exchange rates. 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 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 October 21, 2008, the Federal Reserve Board authorized the FRBNY to extend credit to a series of LLCs funded through the Money Market Investor Funding Facility. These LLCs, which became operational on November 24, 2008, 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 Jan 21, 2009 Federal Reserve notes outstanding 1,024,646 Less: Notes held by F.R. Banks not subject to collateralization 176,447 Federal Reserve notes to be collateralized 848,198 Collateral held against Federal Reserve notes 848,198 Gold certificate account 11,037 Special drawing rights certificate account 2,200 U.S. Treasury, agency debt, and mortgage-backed securities pledged (1) 458,187 Other assets pledged 376,775 Memo: Total U.S. Treasury, agency debt, and mortgage-backed securities (1) 525,470 Less: Face value of securities under reverse repurchase agreements 67,284 U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 458,187 Note: Components may not sum to totals because of rounding. 1. Includes face value of U.S. Treasury, agency debt, and mortgage-backed 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.