UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the

Securities Exchange Act of 1934

Date of Report (Date of earliest event reported) February 226, 2010 (February 124, 2010)

Anthracite Capital, Inc. (Exact name of registrant as specified in its charter)

(Exact name of registrant as specified in its charter)

Maryland	001-13937	13-3978906
(State or other jurisdiction of incorporation)	(Commission File Number)	(IRS Employer Identification No.)

40 East 52nd Street, New York, New York		10022
(Address of principal executive offices)		(Zip Code)

Registrant's telephone number, including area code

(212) 810-3333

N/A (Former name or former address, if changed since last report)

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

[ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) [ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) [ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) [ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

~~Item~~[ ~~1.02~~] ~~Termination~~Soliciting ofmaterial apursuant ~~Material~~to ~~Definitive~~Rule ~~Agreement~~14a-12 under the Exchange Act (17 CFR 240.14a-12)

~~The~~[ ~~information~~] ~~required~~Pre-commencement bycommunications ~~Item~~pursuant ~~1.02 contained~~to inRule ~~Item~~ 14d-2~~.04~~(b) isunder ~~incorporated~~the byExchange ~~reference~~Act ~~into~~(17 ~~this~~CFR ~~Item 1~~240.~~02.~~14d-2(b))

[ ]	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 2.04

Triggering Events That Accelerate or Increase a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement.

On February 124, 2010, (i) in connection ~~with~~ with the continuing events of default under ~~the~~that certain Master Repurchase Agreement and Annex I thereto, dated ~~December~~as ~~23,~~of ~~2004~~July 20, 2007 (as amended, restated, supplemented byor ~~the~~otherwise ~~English~~modified ~~Loan Supplement~~and ~~dated~~in ~~December~~effect ~~23,~~from ~~2004~~time to time, the "Repurchase ~~Joinder~~Agreement"), ~~dated~~by ~~August~~and ~~24,~~among ~~2005~~Anthracite Capital BOFA Funding LLC, ~~the~~as ~~Joinder~~seller (the "Seller"), ~~dated~~Bank ~~October~~of 24America, ~~2005,~~N.A. ~~and~~("BANA") ~~the~~as ~~Letter~~a ~~Agreement~~buyer, Banc ~~dated~~of ~~July~~America 8Mortgage Capital Corporation as a buyer (together with BANA, ~~2008~~the "Buyers") and BANA as ~~amended~~agent onfor ~~February~~the 8Buyers (in such capacity, ~~2007~~the "Buyer Agent"), ~~July~~the 8aggregate Repurchase Price (as defined in the Repurchase Agreement), ~~2008~~originally due on September 30, ~~July~~2010 17under the Repurchase Agreement, became ~~2008~~immediately due and ~~May~~payable, 15and (ii) in connection with the continuing events of default under that certain Credit Agreement, ~~2009~~dated as of March 17, 2006 (as amended, restated, supplemented or otherwise modified and ~~amended~~in effect from time to time, the "~~Repurchase~~Credit Agreement"), by and among Anthracite Capital, Inc. (the "Company"), ~~Anthracite~~as ~~Funding,~~borrower ~~LLC~~agent, aAHR ~~wholly~~Capital ~~owned subsidiary~~BofA ofLimited ~~the Company~~ ("~~Anthracite Funding~~AHR"), ~~AHR~~as ~~Capital DB Limited,~~ a ~~wholly~~borrower, ~~owned~~each ~~subsidiary~~ of the Company's affiliates from time to time party thereto (together with ~~Anthracite~~AHR, ~~Funding~~collectively, the "~~Seller~~Borrowers"), and ~~Deutsche~~BANA ~~Bank~~as ~~AG,~~lender ~~Cayman~~(in ~~Islands~~such capacity, ~~Branch~~the ("~~Deutsche Bank")~~Lender," ~~the aggregate~~and ~~Repurchase~~together ~~Price~~with ~~(as~~the ~~defined~~Buyers inand the ~~Repurchase~~Buyer ~~Agreement)~~Agent, ~~originally~~ ~~due~~collectively, onthe ~~September~~"BOA 30Creditors"), ~~2010~~the Company's borrowings under the ~~Repurchase~~ Credit Agreement, ~~became~~originally ~~immediately~~ due on ~~February~~September 130, 2010, ~~(the~~were ~~"Demand~~accelerated ~~Date")~~and became immediately due and payable. The continuing events of ~~defaults~~ ~~included,~~default ~~without~~under each ~~limitation,~~of the ~~breach~~Repurchase byAgreement ~~the~~and ~~Company~~Credit ofAgreement aresulted ~~covenant~~from, without ~~that~~limitation, cross defaults previously disclosed in the Company’'s ~~operating~~Current ~~earnings~~Report on ~~(as~~Form ~~defined~~8-K infiled with the ~~Guaranty~~Securities Exchange Commission (as"SEC") ~~defined~~on December 1, ~~below))~~2009. The ~~will~~Seller's ~~not~~obligations beunder ~~less~~the ~~than~~Repurchase aAgreement ~~specified~~were guaranteed ~~amount~~by ~~for~~the Company under the ~~quarter~~Second ~~ending~~Amended onand Restated Parent Guaranty, ~~September~~dated 30as of May 15, 2009. On February 24, as2010, ~~previously~~approximately ~~disclosed~~$115 million inof ~~the~~borrowings ~~Company's~~and ~~Quarterly~~restructuring ~~Report~~fees ~~on Form~~were ~~10-Q~~outstanding ~~for~~under the Repurchase ~~quarter~~Agreement ~~ended~~and ~~September~~approximately ~~30,~~$31 ~~2009~~million of borrowings and restructuring fees were outstanding under the Credit Agreement.

~~The~~Pursuant ~~Seller's~~to ~~obligations~~the ~~under~~terms of the Repurchase Agreement and the Credit Agreement ~~were~~and ~~guaranteed~~a byconsent entered into on February 24, 2010 among the ~~Company~~BOA ~~under~~Creditors, the ~~Guaranty~~Seller, ~~dated December~~the 23Borrowers, ~~2004~~the Company and its affiliates, as(i) ~~amended~~the onSeller ~~February~~and ~~27,~~its ~~2007,~~relevant ~~July~~affiliates 8agreed to irrevocably assign to the Buyers all of their respective right, ~~2008~~title and ~~May~~interest ~~15,~~in and to ~~2009~~the Purchased Assets (as defined in the Repurchase Agreement) in partial satisfaction of all amounts owing to the Buyers under the Repurchase Agreement (the "Purchased Assets Assignment"), by(ii) the ~~Company~~Borrowers ~~for~~and their relevant affiliates agreed to irrevocably assign to the ~~benefit~~Lender all of ~~Deutsche~~their ~~Bank~~respective right, title and interest in and to the Eligible Assets (as ~~amended,~~defined in the Credit Agreement) in partial satisfaction of all amounts owing to the Lender under the Credit Agreement (the "~~Guaranty~~Eligible Assets Assignment"), and (iii) the BOA Creditors retained all its security interests under the Repurchase Agreement and the Credit Agreement except for the BOA Second Priority Liens (as defined below). OnThe ~~February~~Purchased 1Assets and the Eligible Assets consist of commercial real estate assets financed under the Repurchase Agreement and the Credit Agreement. As previously disclosed in the Company's reports filed with the SEC, ~~2010~~the Company primarily invests in high yield commercial real estate debt and equity and historically financed its purchases of commercial real estate assets through several funding sources, ~~approximately~~including ~~$63~~its secured ~~million~~facilities with Bank of America under the Repurchase Agreement and the ~~borrowings~~Credit Agreement. After giving effect to the Purchased Assets Assignment and ~~restructuring~~the ~~fees~~Eligible ~~were~~Assets ~~outstanding~~Assignment, (i) the BOA Creditors have assumed full ownership and control of the Purchased Assets and the Eligible Assets, (ii) any remaining legal or equitable interest or any voting or servicing rights of the Seller or its affiliates with respect to the Purchased Assets, along with any remaining right of the Seller to repurchase the Purchased Assets, have been terminated, (iii) any remaining legal or equitable interest or any voting or servicing rights of the Borrowers or their affiliates with respect to the Eligible Assets have been terminated, and (iv) approximately $78 million and $23 million (collectively, the "Deficiency") currently remain outstanding under the Repurchase Agreement and the Credit Agreement, respectively.

~~Pursuant~~The toBOA ~~the~~Creditors ~~terms~~separately ~~of the Repurchase~~released ~~Agreement~~any ~~and~~second apriority ~~consent~~liens ~~entered~~it ~~into~~held ~~among~~on ~~Deutsche Bank,~~ the ~~Seller, the~~ Company's and ~~its affiliates,~~ the ~~Seller~~Company's ~~agreed to assign to Deutsche Bank, and~~affiliates' ~~Deutsche~~assets ~~Bank agreed to retain, on or before February 5, 2010, the Purchased Assets~~ (~~as defined in~~ the ~~Repurchase~~"BOA ~~Agreement)~~Second inPriority ~~full satisfaction of all amounts owing to Deutsche Bank under the Repurchase Agreement (the~~ Liens"~~Assignment"~~) if ~~the Seller had not repurchased the Purchased Assets for the aggregate Repurchase Price~~ and ~~all~~Morgan ~~other~~Stanley ~~amounts~~Mortgage ~~owing under the Repurchase Agreement on~~Servicing orLimited ~~before the Demand Date. The Seller did not repurchase the Purchased Assets~~ and ~~the~~Morgan ~~Assignment~~Stanley ~~has~~Principal ~~taken effect as of the Demand Date~~Funding, asInc. ~~a result~~released ~~of which (i) Deutsche Bank has assumed full ownership and control of the Purchased Assets, (ii)~~ any ~~remaining~~second ~~legal or equitable interest or any~~priority ~~voting~~liens orthey ~~servicing~~held ~~rights~~on of the ~~Seller or its affiliates with respect to the~~ Purchased Assets, ~~along with any remaining right of the Seller to repurchase the Purchased Assets, have been terminated,~~ and ~~(iii)~~ the ~~Repurchase~~Eligible ~~Agreement and the Guaranty have been terminated~~Assets.

Deutsche Bank separately released any second priority liens it held on the Company's and the Company's affiliates' assets and any interests it had in the Cash Management Account (as defined in the Repurchase Agreement), and Bank of America, N.A., Banc of America Mortgage

Capital Corporation, Morgan Stanley Mortgage Servicing Limited and Morgan Stanley Principal Funding, Inc. released any second priority liens they held on the Purchased Assets.

Item 8.01 Other Events.

On February 1, 2010, the Company did not make interest payments due on its outstanding (i) $62.5 million aggregate principal amount of 0.75%-to-7.4975% Junior Subordinated Notes due 2035, issued in May 2009, (ii) $31.25 million aggregate principal amount of 0.75%-to-7.4975% Junior Subordinated Notes due 2035, issued in July 2009, (iii) $62.5 million aggregate principal amount of 0.75%-to-7.73% Junior Subordinated Notes due 2036, (iv) €37.5 million aggregate principal amount of 0.75%-to-Floating Rate Junior Subordinated Notes due 2022, (v) €25.0 million aggregate principal amount of 0.75%-to-Floating Rate Junior Subordinated Notes due 2022, (vi) $43.5 million aggregate principal amount of 1.25%-to-7.22% Senior Notes due 2016, and (vii) $26.4 million aggregate principal amount of 1.25%-to-7.772%-to-Floating Rate Senior Notes due 2017 (together with the 1.25%-to-7.22% Senior Notes due 2016, the "Defaulted Senior Notes"). Under the indentures governing each series of the above mentioned notes, the Company has three days to cure the interest payment defaults or events of default would occur. The Company does not anticipate being able to cure the interest payment defaults within the three-day period. Prior to February 1, 2010, events of default already existed under the indentures governing each series of the Defaulted Senior Notes as a result of the delisting of the Company's common stock from the New York Stock Exchange, as previously disclosed in the Company's filings with the SEC.

As previously disclosed in the Company's filings with the SEC, the Company did not make the interest payments due on December 30, 2009 on its outstanding $18.75 million aggregate principal amount of 7.20% Senior Notes due 2016 (the "7.20% Notes"), which was subject to a 30-day cure period before constituting an event of default. The Company failed to make the interest payments due on the 7.20% Notes within this 30-day period. As a result, an event of default occurred and is continuing under the indenture governing the 7.20% Notes.

While the event of default is continuing, the trustee or the holders of at least 25% in aggregate principal amount of the 7.20% Notes may, by a written notice to the Company, declare the principal amount of the 7.20% Notes to be immediately due and payable. To date, the Company has not received any such written notice of acceleration.

The event of default under the 7.20% Notes has also resulted in additional events of default under each of the Company's secured facilities with Bank of America, BlackRock Holdco 2, Inc. and Morgan Stanley (collectively, the "Secured Facilities") due to cross defaults. Prior to January 30, 2010, events of default already existed under each of the Company's Secured Facilities, as previously disclosed in the Company's filings with the SEC. If any acceleration were to occur under any of the Company's Secured Facilities or any of the Company's other debt instruments in which events of defaults exist, the Company would not have sufficient liquid assets available to repay such accelerated indebtedness and the Company would be unable to continue to fund its operations or continue its business.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

ANTHRACITE CAPITAL, INC. By: /s/ Richard M. Shea

	ANTHRACITE CAPITAL, INC.

	By:	/s/ Richard M. Shea
	Name:	Richard M. Shea
	Title:	President and Chief Operating Officer

	Dated: February 26, 2010

		Name:	Richard M. Shea
		Title:	President and Chief Operating Officer
		Dated: February 2, 2010

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