Federal Reserve Statistical Release, H.4.1, Factors Affecting Reserve Balances; title with eagle logo links to Statistical Release home page
Release Date:  October 23, 2008
Release dates
Current release   Other formats: Screen reader | ASCII | PDF (21 KB)
For Release at
4:30 P.M. Eastern time
  October 23, 2008


The weekly average value of net portfolio holdings of Maiden Lane LLC reflects holdings from Thursday,
October 16, 2008, through Wednesday, October 22, 2008.  The holdings for the first six days of this week
are based on the values as of June 30, 2008.  The holdings for the last day were based on values as of
September 30, 2008, the quarterly revaluation date.  The fair value of the net portfolio holdings will
be updated quarterly.


FEDERAL RESERVE statistical release
 

H.4.1
Factors Affecting Reserve Balances of Depository Institutions and
Condition Statement of Federal Reserve Banks
October 23, 2008
1. Factors Affecting Reserve Balances of Depository Institutions
Millions of dollars
Reserve Bank credit, related items, and
reserve balances of depository institutions at
Federal Reserve Banks
Averages of daily figures Wednesday
Oct 22, 2008
Week ended
Oct 22, 2008
Change from week ended
Oct 15, 2008 Oct 24, 2007
                                                              
Reserve Bank credit                                       1,803,300     +  63,222     + 944,345     1,787,028 
  Securities held outright                                  490,633     -      24     - 288,947       490,617 
    U.S. Treasury (1)                                       476,528     -      24     - 303,052       476,512 
      Bills (2)                                              18,423             0     - 248,596        18,423 
      Notes and bonds, nominal (2)                          410,757     -     835     -  61,385       410,757 
      Notes and bonds, inflation-indexed (2)                 40,806     +     835     +   5,053        40,806 
      Inflation compensation (3)                              6,542     -      25     +   1,875         6,526 
    Federal agency (2)                                       14,105             0     +  14,105        14,105 
  Repurchase agreements (4)                                  80,000             0     +  42,286        80,000 
  Term auction credit                                       263,092             0     + 263,092       263,092 
  Other loans                                               418,580     -  18,950     + 418,286       408,156 
    Primary credit                                          105,754     +   6,095     + 105,612       107,547 
    Secondary credit                                              0     -       4     -      57             0 
    Seasonal credit                                              19     -       6     -      76            14 
    Primary dealer and other broker-dealer credit(5)       111,255    -  19,870    + 111,255      102,377 
    Asset-backed commercial paper money market                
      mutual fund liquidity facility                        114,219     -  15,397     + 114,219       107,895 
    Other credit extensions                                  87,332     +  10,231     +  87,332        90,323 
  Net portfolio holdings of Maiden Lane LLC (6)              29,137     -     355     +  29,137        26,802 
  Float                                                      -1,048     -      34     -     558        -1,353 
  Other Federal Reserve assets                              522,906     +  82,586     + 481,050       519,713 
Gold stock                                                   11,041             0             0        11,041 
Special drawing rights certificate account                    2,200             0             0         2,200 
Treasury currency outstanding (7)                            38,773     +      14     +      92        38,773 
                                                              
Total factors supplying reserve funds                     1,855,315     +  63,236     + 944,438     1,839,042 
                                                                          
Currency in circulation (7)                                 854,517     +   1,289     +  41,706       856,821 
Reverse repurchase agreements (8)                            98,110     +  12,220     +  61,384        95,987 
  Foreign official and international accounts                73,110     -   5,637     +  36,384        70,987 
  Dealers                                                    25,000     +  17,857     +  25,000        25,000 
Treasury cash holdings                                          276             0     -      46           268 
Deposits with F.R. Banks, other than reserve balances       554,927     +  29,881     + 542,895       621,437 
  U.S. Treasury, general account                             23,166     +  15,828     +  18,120        55,625 
  U.S. Treasury, supplementary financing account            524,771     +  29,918     + 524,771       558,987 
  Foreign official                                              254     -      54     +     155           154 
  Service-related                                             6,138             0     -     441         6,138 
    Required clearing balances                                6,138             0     -     441         6,138 
    Adjustments to compensate for float                           0             0             0             0 
  Other                                                         598     -  15,812     +     289           533 
Other liabilities and capital (9)                            46,213     -     354     +   4,273        43,766 
                                                              
Total factors, other than reserve balances,                                                       
   absorbing reserve funds                                1,554,044     +  43,036     + 650,212     1,618,280 
                                                              
Reserve balances with Federal Reserve Banks                 301,270     +  20,200     + 294,225       220,762 
                                                                
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. Fair value. Refer to table 2 and the note on consolidation accompanying table 5.
7. Estimated.
8. Cash value of agreements, which are collateralized by U.S. Treasury securities.
9. Includes the liabilities of Maiden Lane LLC to entities other than the Federal Reserve Bank of New
York, including liabilities that have recourse only to the portfolio holdings of Maiden Lane LLC.
Refer to table 2 and the note on consolidation accompanying table 5.
 

Sources: Federal Reserve Banks and the U.S. Department of the Treasury.
 

 

1A. Memorandum Items, October 22, 2008
Millions of dollars
Memorandum item Averages of daily figures Wednesday
Oct 22, 2008
Week ended
Oct 22, 2008
Change from week ended
Oct 15, 2008 Oct 24, 2007
                                                              
Marketable securities held in custody for foreign             
      official and international accounts (1)             2,478,737     -   7,551     + 448,128     2,484,940 
  U.S. Treasury                                           1,555,300     +   4,309     + 321,212     1,567,056 
  Federal agency                                            923,437     -  11,861     + 126,916       917,884 
Securities lent to dealers                                  223,130     +   2,732     + 216,681       226,357 
  Overnight facility (2)                                     25,631     -     221     +  19,182        28,858 
  Term facility (3)                                         197,499     +   2,953     + 197,499       197,499 
 

Note: Components may not sum to totals because of rounding.
 

1. Face value of the securities. Includes U.S. Treasury STRIPS and other zero-coupon bonds at face value.
2. Fully collateralized by U.S. Treasury securities.
3. Fully collateralized by U.S. Treasury securities, federal agency securities, and other highly rated debt
securities.
 

 

2. Information on Principal Accounts of Maiden Lane LLC
Millions of dollars
Account name Wednesday
Oct 22, 2008
                                                                                                
Net portfolio holdings of Maiden Lane LLC (1)                                                       26,802    
                                                                                                
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)                                   205    
Outstanding principal amount and accrued interest on loan payable to JPMorgan Chase & Co. (3)        1,175    
 
1. Fair value. Fair value reflects an estimate of the price that would be received upon selling an asset if
the transaction were to be conducted in an orderly market on the measurement date. Revalued quarterly.
This table reflects valuations as of September 30, 2008.
2. Book value. This amount was eliminated when preparing the Federal Reserve Bank of New York's statement
of condition consistent with consolidation under generally accepted accounting principles. Refer to
the note on consolidation accompanying table 5.
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 4 and table 5.
 

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.
 

 

3. Maturity Distribution of Term Auction Credit, Other Loans, and Securities, October 22, 2008
Millions of dollars
  U.S. Treasury
securities (2)
Federal agency
securities
 
Remaining maturity Term
auction
credit
Other
loans
(1)
Holdings Weekly
changes
Holdings Weekly
changes
Repurchase
agreements
(3)
Reverse
repurchase
agreements
(3)
Within 15 days               100,000     215,417      18,840   +   6,702         870   +     385      40,000      95,987 
16 days to 90 days           163,092     108,433      27,207   -   2,166       9,008   -     385      40,000           0 
91 days to 1 year                ---      11,975      61,340   -   4,539       4,227           0         ---         --- 
Over 1 year to 5 years           ---      72,332     173,449   -      13           0           0         ---         --- 
Over 5 years to 10 years         ---         ---      94,327   -       9           0           0         ---         --- 
Over 10 years                    ---         ---     101,350   -      17           0           0         ---         --- 
             
All                          263,092     408,156     476,512   -      43      14,105           0      80,000      95,987 
 

Note: Components may not sum to totals because of rounding.
--- Not applicable.
 

1. Excludes the loan from the Federal Reserve Bank of New York to Maiden Lane LLC that was eliminated when
preparing that Bank's statement of condition consistent with consolidation under generally accepted
accounting principles. The loan to Maiden Lane LLC is designed to be repaid from the orderly
liquidation of Maiden Lane LLC's portfolio holdings and does not have a fixed amortization schedule.
2. Includes the original face value of inflation-indexed securities and compensation that adjusts for the
effect of inflation on the original face value of such securities.
3. Cash value of agreements.
 

 

4. Consolidated Statement of Condition of All Federal Reserve Banks
Millions of dollars
Assets, liabilities, and capital Eliminations
from
consolidation
  Change since
Wednesday
Oct 22, 2008
Wednesday
Oct 15, 2008
Wednesday
Oct 24, 2007
Assets                                                   
Gold certificate account                                         11,037                0                   0
Special drawing rights certificate account                        2,200                0                   0
Coin                                                              1,584        +      38           +     368
Securities, repurchase agreements, term auction          
      credit, and other loans                                 1,241,865        -  33,257           + 415,788
  Securities held outright                                      490,617        -      43           - 288,957
    U.S. Treasury (1)                                           476,512        -      43           - 303,062
      Bills (2)                                                  18,423                0           - 248,596
      Notes and bonds, nominal (2)                              410,757                0           -  61,385
      Notes and bonds, inflation-indexed (2)                     40,806                0           +   5,053
      Inflation compensation (3)                                  6,526        -      43           +   1,865
    Federal agency (2)                                           14,105                0           +  14,105
  Repurchase agreements (4)                                      80,000                0           +  34,000
  Term auction credit                                           263,092                0           + 263,092
  Other loans                                                   408,156        -  33,214           + 407,654
Net portfolio holdings of Maiden Lane LLC (5)                    26,802        -   2,724           +  26,802
Items in process of collection                       (434)        1,004        -   3,054           -   1,350
Bank premises                                                     2,172        +       2           +      66
Other assets (6)                                                517,543        +  70,771           + 477,558
                                                         
      Total assets                                   (434)    1,804,208        +  31,777           + 919,235
                                                         
Liabilities                                              
Federal Reserve notes, net of F.R. Bank holdings                819,896        +   1,398           +  43,195
Reverse repurchase agreements (7)                                95,987        -  11,832           +  58,559
Deposits                                               (0)      842,202        +  46,490           + 815,959
  Depository institutions                                       226,903        -  44,978           + 205,796
  U.S. Treasury, general account                                 55,625        +  31,642           +  50,888
  U.S. Treasury, supplementary financing account                558,987        +  59,858           + 558,987
  Foreign official                                                  154        -      36           +      55
  Other                                                (0)          533        +       4           +     233
Deferred availability cash items                     (434)        2,358        -   1,686           -     631
Other liabilities and accrued dividends (8,9)                     3,907        -     594           -   2,027
                                                         
      Total liabilities                              (434)    1,764,350        +  33,776           + 915,054
                                                         
Capital accounts                                         
Capital paid in                                                  20,317        +       1           +   2,561
Surplus                                                          17,696        -     829           +   2,258
Other capital accounts                                            1,845        -   1,171           -     639
                                                         
      Total capital                                              39,859        -   1,999           +   4,181
 

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. Fair value. Refer to table 2 and the note on consolidation accompanying table 5.
6. Includes assets denominated in foreign currencies and any exchange-translation assets, which are
revalued daily at market exchange rates.
7. Cash value of agreements, which are collateralized by U.S. Treasury securities.
8. Includes any exchange-translation liabilities, which are revalued daily at market exchange rates.
9. Includes the liabilities of Maiden Lane LLC to entities other than the Federal Reserve Bank of New
York, including liabilities that have recourse only to the portfolio holdings of Maiden Lane LLC.
Refer to the note on consolidation accompanying table 5.
 

 

5. Statement of Condition of Each Federal Reserve Bank, October 22, 2008
Millions of dollars
Assets, liabilities, and capital Total Boston New York Philadelphia Cleveland Richmond Atlanta Chicago St. Louis Minneapolis Kansas
City
Dallas San
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                                           1,584          52          78         126         130         212         202         180          47          53         109         175         220 
Securities, repurchase agreements, term                            
      auction credit, and other loans      1,241,865     143,866     607,951      30,787      34,925     120,410      68,466      56,841      22,072      15,952      22,180      27,464      90,953 
  Securities held outright                   490,617      20,578     174,559      21,421      18,604      44,488      48,816      43,302      16,954       9,262      18,014      20,351      54,268 
    U.S. Treasury (1)                        476,512      19,987     169,540      20,805      18,069      43,209      47,412      42,057      16,467       8,996      17,496      19,766      52,707 
      Bills (2)                               18,423         773       6,555         804         699       1,671       1,833       1,626         637         348         676         764       2,038 
      Notes and bonds (3)                    458,089      19,214     162,985      20,001      17,371      41,539      45,579      40,431      15,830       8,648      16,820      19,002      50,670 
    Federal agency (2)                        14,105         592       5,018         616         535       1,279       1,403       1,245         487         266         518         585       1,560 
  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                        263,092      12,000     145,030         500      12,785      43,347      11,440       4,480       2,000       5,035         475       3,000      23,000 
  Other loans                                408,156     107,932     259,899       5,373         502      25,320         251       1,998         354         144         753         794       4,836 
Net portfolio holdings of Maiden Lane                              
      LLC (5)                                 26,802           0      26,802           0           0           0           0           0           0           0           0           0           0 
Items in process of collection                 1,439          44           0         218         316          52          60          83          16         151         -83         100         483 
Bank premises                                  2,172         123         211          64         150         216         225         207         129         111         275         251         209 
Other assets (6)                             517,543      27,773     152,331      47,241      33,781     129,877      37,954      22,264       5,138       9,402       5,531       9,968      36,282 
Interdistrict settlement account                   0    -101,093    +270,315    - 30,779    - 25,973    - 95,377    +  2,447    +  3,157    +  4,101    -  7,455    +  5,080    +  1,360    - 25,783 
                                                                   
      Total assets                         1,804,643      71,304   1,062,497      48,193      43,855     156,427     110,742      83,857      31,918      18,443      33,507      40,053     103,847 
 

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. Fair value. Refer to the note on consolidation below.
6. Includes assets denominated in foreign currencies and any exchange-translation assets, which are revalued daily at market exchange rates.
 

Note on consolidation:
On June 26, 2008, the Federal Reserve Bank of New York extended a loan under the authority of section 13(3) of the Federal Reserve Act to Maiden Lane LLC, a limited liability company
formed to acquire certain assets of Bear Stearns. The Federal Reserve Bank of New York is the primary beneficiary of Maiden Lane LLC. Consistent with generally accepted accounting
principles, the assets and liabilities of Maiden Lane LLC have been consolidated with the assets and liabilities of the Federal Reserve Bank of New York in the preparation of the
statements of condition shown on this release. As a consequence of the consolidation, the extension of credit from the Federal Reserve Bank of New York to Maiden Lane LLC is
eliminated, the net assets of Maiden Lane LLC appear as an asset in this table (and table 1 and table 4), and the liabilities of Maiden Lane LLC to entities other than the Federal
Reserve Bank of New York, including those with recourse only to the portfolio holdings of Maiden Lane LLC, are included in other liabilities on the next page (and in table 1 and
table 4).
 

 

5. Statement of Condition of Each Federal Reserve Bank, October 22, 2008 (continued)
Millions of dollars
Assets, liabilities, and capital Total Boston New York Philadelphia Cleveland Richmond Atlanta Chicago St. Louis Minneapolis Kansas
City
Dallas San
Francisco
Liabilities                                                         
Federal Reserve notes outstanding             993,237      38,318     352,554      42,067      41,220      82,198     120,630      79,986      29,750      17,403      30,407      54,702     104,001 
  Less: Notes held by F.R. Banks              173,341       5,531      42,764       6,095       8,010      11,875      27,872      13,083       3,379       2,658       3,491      23,087      25,496 
    Federal Reserve notes, net                819,896      32,788     309,790      35,972      33,211      70,323      92,758      66,904      26,371      14,745      26,916      31,614      78,505 
Reverse repurchase agreements (1)              95,987       4,026      34,152       4,191       3,640       8,704       9,551       8,472       3,317       1,812       3,524       3,982      10,617 
Deposits                                      842,202      32,369     708,319       2,725       3,279      65,638       4,568       5,910       1,666         849       2,385       3,400      11,094 
  Depository institutions                     226,903      32,364      93,191       2,721       3,275      65,496       4,565       5,908       1,661         848       2,383       3,399      11,091 
  U.S. Treasury, general account               55,625           0      55,625           0           0           0           0           0           0           0           0           0           0 
  U.S. Treasury, supplementary                                      
    financing account                         558,987           0     558,987           0           0           0           0           0           0           0           0           0           0 
  Foreign official                                154           2         124           4           3          11           3           2           0           1           0           1           3 
  Other                                           533           3         392           0           1         131           0           0           4           0           1           0           0 
Deferred availability cash items                2,792          66           0         485         469         229         238         248          31         246         124         224         431 
Other liabilities and accrued                                                 
  dividends (2,3)                               3,907         174       1,216         203         196         507         388         306         158         109         130         183         338 
                                                                    
      Total liabilities                     1,764,784      69,423   1,053,477      43,575      40,795     145,401     107,502      81,840      31,543      17,761      33,080      39,402     100,985 
                                                                    
Capital                                                             
Capital paid in                                20,317         784       5,162       2,331       1,525       5,832       1,607         684         181         323         206         268       1,413 
Surplus                                        17,696       1,050       3,858       1,814       1,291       4,999       1,426         815         180         355         193         364       1,351 
Other capital                                   1,845          47           0         472         244         194         207         518          14           4          28          19          98 
                                                                    
      Total liabilities and capital         1,804,643      71,304   1,062,497      48,193      43,855     156,427     110,742      83,857      31,918      18,443      33,507      40,053     103,847 
                              
Note: Components may not sum to totals because of rounding.
 

1. Cash value of agreements, which are collateralized by U.S. Treasury securities.
2. Includes any exchange-translation liabilities, which are revalued daily at market exchange rates.
3. Includes the liabilities of Maiden Lane LLC to entities other than the Federal Reserve Bank of New York, including liabilities that have recourse only to the portfolio holdings of
Maiden Lane LLC. Refer to the note on consolidation on the previous page.
 

 

6. Collateral Held against Federal Reserve Notes: Federal Reserve Agents' Accounts
Millions of dollars
Federal Reserve notes and collateral Wednesday
Oct 22, 2008
                                                                                            
Federal Reserve notes outstanding                                                                993,237 
  Less: Notes held by F.R. Banks not subject to collateralization                                173,341 
    Federal Reserve notes to be collateralized                                                   819,896 
Collateral held against Federal Reserve notes                                                    819,896 
  Gold certificate account                                                                        11,037 
  Special drawing rights certificate account                                                       2,200 
  U.S. Treasury and agency securities pledged (1)                                                563,699 
  Other assets pledged                                                                           242,960 
                                                                                            
Memo:                                                                                       
Total U.S. Treasury and agency securities (1)                                                    570,617 
  Less: Face value of securities under reverse repurchase agreements                               6,918 
    U.S. Treasury and agency securities eligible to be pledged                                   563,699 
   
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.

Release dates
Current release   Other formats: Screen reader | ASCII | PDF (21 KB)

Statistical releases