FEDERAL RESERVE statistical release H.4.1 Factors Affecting Reserve Balances of Depository Institutions and Condition Statement of Federal Reserve Banks March 12, 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 Mar 11, 2009 Mar 4, 2009 Mar 12, 2008 Mar 11, 2009 Reserve Bank credit 1,877,666 - 13,771 +1,008,588 1,882,214 Securities held outright 584,064 + 2,343 - 125,069 588,051 U.S. Treasury securities (1) 474,646 + 39 - 234,487 474,661 Bills (2) 18,423 0 - 177,651 18,423 Notes and bonds, nominal (2) 412,914 0 - 57,096 412,914 Notes and bonds, inflation-indexed (2) 39,378 0 + 941 39,378 Inflation compensation (3) 3,932 + 39 - 680 3,947 Federal agency debt securities (2) 40,483 + 2,231 + 40,483 44,432 Mortgage-backed securities (4) 68,935 + 73 + 68,935 68,958 Repurchase agreements (5) 0 0 - 58,714 0 Term auction credit 493,145 0 + 433,145 493,145 Other loans 133,118 - 7,827 + 133,015 134,669 Primary credit 63,487 - 2,474 + 63,388 65,482 Secondary credit 0 0 0 0 Seasonal credit 2 0 - 1 2 Primary dealer and other broker-dealer credit (6) 19,733 - 4,066 + 19,733 19,575 Asset-backed Commercial Paper Money Market Mutual Fund Liquidity Facility 7,552 - 1,979 + 7,552 6,834 Credit extended to American International Group, Inc. (7) 42,344 + 692 + 42,344 42,775 Other credit extensions 0 0 0 0 Net portfolio holdings of Commercial Paper Funding Facility LLC (8) 240,658 - 1,394 + 240,658 240,858 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) 26,118 + 129 + 26,118 26,178 Net portfolio holdings of Maiden Lane II LLC (11) 18,426 - 229 + 18,426 18,427 Net portfolio holdings of Maiden Lane III LLC (12) 27,463 - 239 + 27,463 27,597 Float -2,470 - 176 - 1,309 -3,116 Central bank liquidity swaps (13) 313,869 - 6,520 + 313,869 312,461 Other Federal Reserve assets (14) 43,275 + 142 + 985 43,944 Gold stock 11,041 0 0 11,041 Special drawing rights certificate account 2,200 0 0 2,200 Treasury currency outstanding (15) 38,814 + 14 + 135 38,814 Total factors supplying reserve funds 1,929,721 - 13,757 +1,008,723 1,934,269 Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table. 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 Mar 11, 2009 Mar 4, 2009 Mar 12, 2008 Mar 11, 2009 Currency in circulation (15) 897,312 + 2,198 + 80,458 898,943 Reverse repurchase agreements (16) 67,725 - 4,900 + 27,704 66,385 Foreign official and international accounts 67,725 - 4,900 + 27,704 66,385 Dealers 0 0 0 0 Treasury cash holdings 296 + 12 + 35 305 Deposits with F.R. Banks, other than reserve balances 283,302 + 6,983 + 271,074 287,560 U.S. Treasury, general account 48,896 - 3,517 + 43,820 34,431 U.S. Treasury, supplementary financing account 199,945 - 5 + 199,945 199,945 Foreign official 1,541 - 6 + 1,443 1,793 Service-related 4,465 - 1 - 2,284 4,465 Required clearing balances 4,465 - 1 - 2,284 4,465 Adjustments to compensate for float 0 0 0 0 Other 28,455 + 10,513 + 28,149 46,926 Other liabilities and capital (17) 52,344 + 1,012 + 7,901 53,032 Total factors, other than reserve balances, absorbing reserve funds 1,300,979 + 5,306 + 387,172 1,306,225 Reserve balances with Federal Reserve Banks 628,743 - 19,062 + 621,552 628,044 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. Dollar value of foreign currency held under these agreements valued at the exchange rate to be used when the foreign currency is returned to the foreign central bank. This exchange rate equals the market exchange rate used when the foreign currency was acquired from the foreign central bank. 14. Includes other assets denominated in foreign currencies, which are revalued daily at market exchange rates. 15. Estimated. 16. Cash value of agreements, which are collateralized by U.S. Treasury securities. 17. 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 Mar 11, 2009 Mar 4, 2009 Mar 12, 2008 Mar 11, 2009 Marketable securities held in custody for foreign official and international accounts (1) 2,591,355 - 5,085 + 440,139 2,583,990 U.S. Treasury securities 1,780,495 + 1,239 + 502,798 1,771,980 Federal agency securities (2) 810,860 - 6,324 - 62,659 812,010 Securities lent to dealers 112,333 - 5,520 + 100,694 112,680 Overnight facility (3) 4,034 - 1,649 - 7,605 4,560 Term facility (4,5) 108,299 - 3,871 + 108,299 108,120 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. 5. On March 11, 2009, option contracts on draws on the Term Securities Lending Facility totaling $ 35,000 million were outstanding. The exercise date for the options is March 26, 2009, and the draws have a term of March 27, 2009 through April 3, 2009. 2. Maturity Distribution of Term Auction Credit, Other Loans, and Securities, March 11, 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 245,282 247,864 --- --- --- --- 493,145 Other loans (1) 75,728 16,111 55 42,775 --- --- 134,669 U.S. Treasury securities (2) Holdings 17,125 27,819 60,733 168,936 100,598 99,449 474,661 Weekly changes + 3,867 - 3,867 + 1 + 14 + 10 + 17 + 42 Federal agency debt securities (3) Holdings 1,199 0 2,567 31,451 9,049 166 44,432 Weekly changes + 222 - 571 0 + 4,761 + 1,616 + 166 + 6,194 Mortgage-backed securities (4) Holdings 0 0 0 0 0 68,958 68,958 Weekly changes 0 0 0 0 0 + 56 + 56 Commercial paper held by Commercial Paper Funding Facility LLC (5) 18,529 221,160 0 --- --- --- 239,689 Money market instruments held by LLCs funded through the Money Market Investor Funding Facility (6) 0 0 0 --- --- --- 0 Repurchase agreements (7) 0 0 --- --- --- --- 0 Central bank liquidity swaps (8) 158,359 154,102 0 0 0 0 312,461 Reverse repurchase agreements (7) 66,385 0 --- --- --- --- 66,385 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. 8. Dollar value of foreign currency held under these agreements valued at the exchange rate to be used when the foreign currency is returned to the foreign central bank. This exchange rate equals the market exchange rate used when the foreign currency was acquired from the foreign central bank. 3. Information on Principal Accounts of Maiden Lane LLC Millions of dollars Wednesday Account name Mar 11, 2009 Net portfolio holdings of Maiden Lane LLC (1) 26,178 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) 295 Outstanding principal amount and accrued interest on loan payable to JPMorgan Chase & Co. (3) 1,199 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 31, 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 Mar 11, 2009 Net portfolio holdings of Maiden Lane II LLC (1) 18,427 Outstanding principal amount of loan extended by the Federal Reserve Bank of New York (2) 18,543 Accrued interest payable to the Federal Reserve Bank of New York (2) 80 Deferred payment and accrued interest payable to subsidiaries of American International Group, Inc. (3) 1,009 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 31, 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 Mar 11, 2009 Net portfolio holdings of Maiden Lane III LLC (1) 27,597 Outstanding principal amount of loan extended by the Federal Reserve Bank of New York (2) 24,036 Accrued interest payable to the Federal Reserve Bank of New York (2) 113 Outstanding principal amount and accrued interest on loan payable to American International Group, Inc. (3) 5,056 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 31, 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 Mar 11, 2009 Commercial paper holdings, net (1) 238,390 Other investments, net 2,468 Net portfolio holdings of Commercial Paper Funding Facility LLC 240,858 Memorandum: Commercial paper holdings, face value 239,689 Outstanding principal amount of loan extended by the Federal Reserve Bank of New York (2) 238,380 Accrued interest payable to the Federal Reserve Bank of New York (2) 75 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 Mar 11, 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 Mar 11, 2009 Mar 4, 2009 Mar 12, 2008 Assets Gold certificate account 11,037 0 0 Special drawing rights certificate account 2,200 0 0 Coin 1,835 - 13 + 511 Securities, repurchase agreements, term auction credit, and other loans 1,215,865 + 618 + 375,401 Securities held outright 588,051 + 6,292 - 115,385 U.S. Treasury securities (1) 474,661 + 42 - 228,775 Bills (2) 18,423 0 - 171,937 Notes and bonds, nominal (2) 412,914 0 - 57,096 Notes and bonds, inflation-indexed (2) 39,378 0 + 941 Inflation compensation (3) 3,947 + 42 - 682 Federal agency debt securities (2) 44,432 + 6,194 + 44,432 Mortgage-backed securities (4) 68,958 + 56 + 68,958 Repurchase agreements (5) 0 0 - 77,000 Term auction credit 493,145 0 + 433,145 Other loans 134,669 - 5,674 + 134,641 Net portfolio holdings of Commercial Paper Funding Facility LLC (6) 240,858 - 438 + 240,858 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) 26,178 + 71 + 26,178 Net portfolio holdings of Maiden Lane II LLC (9) 18,427 - 281 + 18,427 Net portfolio holdings of Maiden Lane III LLC (10) 27,597 - 148 + 27,597 Items in process of collection (455) 604 - 101 - 750 Bank premises 2,186 + 4 + 48 Central bank liquidity swaps (11) 312,461 - 2,750 + 312,461 Other assets (12) 41,738 + 1,226 + 1,297 Total assets (455) 1,900,986 - 1,812 +1,002,030 Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table. 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 Mar 11, 2009 Mar 4, 2009 Mar 12, 2008 Liabilities Federal Reserve notes, net of F.R. Bank holdings 862,265 + 1,795 + 81,011 Reverse repurchase agreements (13) 66,385 - 4,877 + 26,188 Deposits (0) 915,584 - 316 + 884,972 Depository institutions 632,490 + 12,777 + 607,484 U.S. Treasury, general account 34,431 - 33,851 + 29,182 U.S. Treasury, supplementary financing account 199,945 - 5 + 199,945 Foreign official 1,793 + 153 + 1,697 Other (0) 46,926 + 20,611 + 46,666 Deferred availability cash items (455) 3,720 + 66 + 856 Other liabilities and accrued dividends (14) 9,124 + 311 + 4,759 Total liabilities (455) 1,857,078 - 3,020 + 997,786 Capital accounts Capital paid in 22,360 + 166 + 2,886 Surplus 20,947 + 680 + 2,489 Other capital accounts 601 + 363 - 1,132 Total capital 43,908 + 1,209 + 4,243 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. Dollar value of foreign currency held under these agreements valued at the exchange rate to be used when the foreign currency is returned to the foreign central bank. This exchange rate equals the market exchange rate used when the foreign currency was acquired from the foreign central bank. 12. Includes other assets denominated in foreign currencies, which are revalued daily at market exchange rates. 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. 9. Statement of Condition of Each Federal Reserve Bank, March 11, 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 1,835 62 82 155 152 252 221 215 45 61 126 181 283 Securities, repurchase agreements, term auction credit, and other loans 1,215,865 53,381 564,559 72,578 33,745 140,393 72,333 60,259 24,936 17,147 24,128 30,953 121,453 Securities held outright 588,051 24,665 209,225 25,675 22,299 53,324 58,510 51,901 20,321 11,102 21,592 24,393 65,045 U.S. Treasury securities (1) 474,661 19,909 168,882 20,724 17,999 43,042 47,228 41,893 16,403 8,961 17,429 19,689 52,503 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) 456,239 19,136 162,327 19,920 17,300 41,371 45,395 40,267 15,766 8,613 16,752 18,925 50,465 Federal agency debt securities (2) 44,432 1,864 15,809 1,940 1,685 4,029 4,421 3,922 1,535 839 1,631 1,843 4,915 Mortgage-backed securities (4) 68,958 2,892 24,535 3,011 2,615 6,253 6,861 6,086 2,383 1,302 2,532 2,860 7,627 Repurchase agreements (5) 0 0 0 0 0 0 0 0 0 0 0 0 0 Term auction credit 493,145 21,622 233,360 46,815 11,445 86,488 13,623 6,469 4,564 5,699 2,477 5,675 54,909 Other loans 134,669 7,094 121,974 88 2 582 200 1,889 51 346 59 885 1,499 Net portfolio holdings of Commercial Paper Funding Facility LLC (6) 240,858 0 240,858 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) 26,178 0 26,178 0 0 0 0 0 0 0 0 0 0 Net portfolio holdings of Maiden Lane II LLC (9) 18,427 0 18,427 0 0 0 0 0 0 0 0 0 0 Net portfolio holdings of Maiden Lane III LLC (10) 27,597 0 27,597 0 0 0 0 0 0 0 0 0 0 Items in process of collection 1,059 42 0 234 183 36 24 185 26 59 30 111 130 Bank premises 2,186 122 210 65 146 232 224 207 134 112 272 249 212 Central bank liquidity swaps (11) 312,461 12,213 88,700 33,489 22,452 86,507 23,314 10,176 3,033 4,692 3,008 3,920 20,958 Other assets (12) 41,738 1,707 12,955 3,351 2,404 8,333 3,582 2,306 876 714 893 1,063 3,556 Interdistrict settlement account 0 - 11,560 - 61,057 - 50,816 + 11,446 - 26,445 + 35,835 + 31,096 + 5,086 - 741 + 20,232 + 20,773 + 26,149 Total assets 1,901,441 56,507 923,318 59,591 71,055 210,345 136,919 105,569 34,551 22,273 49,104 57,984 174,223 Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table. 9. Statement of Condition of Each Federal Reserve Bank, March 11, 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 1,040,918 37,511 363,748 40,773 45,884 79,807 133,998 87,242 29,100 19,946 29,393 62,261 111,255 Less: Notes held by F.R. Banks 178,653 5,575 53,011 5,118 7,325 12,069 29,508 13,447 3,556 2,865 3,429 16,944 25,806 Federal Reserve notes, net 862,265 31,937 310,737 35,655 38,560 67,738 104,490 73,795 25,544 17,081 25,964 45,316 85,449 Reverse repurchase agreements (13) 66,385 2,784 23,619 2,898 2,517 6,020 6,605 5,859 2,294 1,253 2,438 2,754 7,343 Deposits 915,584 19,681 570,322 15,451 26,103 123,930 21,795 23,675 6,061 2,579 19,928 8,870 77,190 Depository institutions 632,490 19,677 287,377 15,446 26,099 123,814 21,792 23,674 6,051 2,578 19,926 8,870 77,186 U.S. Treasury, general account 34,431 0 34,431 0 0 0 0 0 0 0 0 0 0 U.S. Treasury, supplementary financing account 199,945 0 199,945 0 0 0 0 0 0 0 0 0 0 Foreign official 1,793 2 1,763 4 3 11 3 1 0 1 0 1 3 Other 46,926 2 46,806 0 1 104 0 0 10 0 1 0 2 Deferred availability cash items 4,175 124 0 732 555 291 323 394 45 418 206 287 799 Other liabilities and accrued dividends (14) 9,124 160 6,584 190 187 480 346 295 157 110 120 172 322 Total liabilities 1,857,532 54,685 911,262 54,926 67,922 198,459 133,559 104,019 34,100 21,442 48,655 57,399 171,104 Capital Capital paid in 22,360 903 6,283 2,363 1,597 6,061 1,644 769 216 485 214 281 1,544 Surplus 20,947 844 5,663 2,301 1,537 5,826 1,612 704 210 324 208 271 1,449 Other capital 601 74 110 0 0 0 105 78 25 22 27 33 127 Total liabilities and capital 1,901,441 56,507 923,318 59,591 71,055 210,345 136,919 105,569 34,551 22,273 49,104 57,984 174,223 Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table. 9. Statement of Condition of Each Federal Reserve Bank, March 11, 2009 (continued) 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 below. 7. Refer to table 7 and the note on consolidation below. 8. Refer to table 3 and the note on consolidation below. 9. Refer to table 4 and the note on consolidation below. 10. Refer to table 5 and the note on consolidation below. 11. Dollar value of foreign currency held under these agreements valued at the exchange rate to be used when the foreign currency is returned to the foreign central bank. This exchange rate equals the market exchange rate used when the foreign currency was acquired from the foreign central bank. 12. Includes other assets denominated in foreign currencies, which are revalued daily at market exchange rates. 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 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 Mar 11, 2009 Federal Reserve notes outstanding 1,040,918 Less: Notes held by F.R. Banks not subject to collateralization 178,653 Federal Reserve notes to be collateralized 862,265 Collateral held against Federal Reserve notes 862,265 Gold certificate account 11,037 Special drawing rights certificate account 2,200 U.S. Treasury, agency debt, and mortgage-backed securities pledged (1) 526,147 Other assets pledged 322,881 Memo: Total U.S. Treasury, agency debt, and mortgage-backed securities (1) 588,051 Less: Face value of securities under reverse repurchase agreements 61,904 U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 526,147 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.