FEDERAL RESERVE statistical release H.4.1 Factors Affecting Reserve Balances of Depository Institutions and Condition Statement of Federal Reserve Banks November 27, 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 Nov 25, 2009 Nov 18, 2009 Nov 26, 2008 Nov 25, 2009 Reserve Bank credit 2,189,831 - 1,552 + 97,399 2,189,044 Securities held outright (1) 1,785,029 + 11,076 +1,296,353 1,783,726 U.S. Treasury securities 776,532 + 8 + 300,117 776,535 Bills (2) 18,423 0 0 18,423 Notes and bonds, nominal (2) 707,649 0 + 297,158 707,649 Notes and bonds, inflation-indexed (2) 44,643 0 + 3,572 44,643 Inflation compensation (3) 5,818 + 8 - 611 5,821 Federal agency debt securities (2) 153,625 + 1,888 + 141,364 155,066 Mortgage-backed securities (4) 854,872 + 9,180 + 854,872 852,124 Repurchase agreements (5) 0 0 - 80,000 0 Term auction credit 101,009 - 8,447 - 305,499 101,009 Other loans 108,484 + 238 - 174,696 109,578 Primary credit 19,932 + 139 - 73,696 19,921 Secondary credit 0 0 - 225 0 Seasonal credit 69 - 13 + 64 58 Primary dealer and other broker-dealer credit (6) 0 0 - 52,418 0 Asset-Backed Commercial Paper Money Market Mutual Fund Liquidity Facility 0 0 - 57,318 0 Credit extended to American International Group, Inc., net (7) 44,943 + 182 - 34,642 45,063 Term Asset-Backed Securities Loan Facility, net (8) 43,539 - 72 + 43,539 44,537 Other credit extensions 0 0 0 0 Net portfolio holdings of Commercial Paper Funding Facility LLC (9) 15,042 - 72 - 267,155 15,046 Net portfolio holdings of Maiden Lane LLC (10) 26,350 + 10 - 578 26,361 Net portfolio holdings of Maiden Lane II LLC (11) 15,777 + 39 + 15,777 15,845 Net portfolio holdings of Maiden Lane III LLC (12) 22,952 + 18 + 16,942 22,961 Net portfolio holdings of TALF LLC (13) 266 + 35 + 266 266 Float -1,600 + 369 - 1,123 -1,641 Central bank liquidity swaps (14) 25,811 - 2,467 - 453,628 25,811 Other Federal Reserve assets (15) 90,710 - 2,351 + 50,739 90,083 Gold stock 11,041 0 0 11,041 Special drawing rights certificate account 5,200 0 + 3,000 5,200 Treasury currency outstanding (16) 42,619 + 14 + 3,945 42,614 Total factors supplying reserve funds 2,248,691 - 1,538 + 104,344 2,247,899 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 Nov 25, 2009 Nov 18, 2009 Nov 26, 2008 Nov 25, 2009 Currency in circulation (16) 919,932 + 643 + 53,026 923,404 Reverse repurchase agreements (17) 58,125 - 2,046 - 39,200 58,483 Foreign official and international accounts 58,125 - 2,046 - 14,200 58,483 Dealers 0 0 - 25,000 0 Treasury cash holdings 233 - 2 - 9 233 Deposits with F.R. Banks, other than reserve balances 48,885 - 53,138 - 505,417 35,202 U.S. Treasury, general account 25,904 - 35,730 - 38,627 12,997 U.S. Treasury, supplementary financing account 14,999 0 - 464,055 14,999 Foreign official 3,163 + 468 + 2,973 2,126 Service-related 3,037 - 101 - 1,916 3,037 Required clearing balances 3,037 - 101 - 1,916 3,037 Adjustments to compensate for float 0 0 0 0 Other 1,782 - 17,774 - 3,793 2,042 Other liabilities and capital (18) 65,408 - 1,268 + 17,569 65,034 Total factors, other than reserve balances, absorbing reserve funds 1,092,583 - 55,812 - 474,031 1,082,356 Reserve balances with Federal Reserve Banks 1,156,108 + 54,274 + 578,375 1,165,543 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. Includes outstanding principal and capitalized interest net of unamortized deferred commitment fees and allowance for loan restructuring. Excludes credit extended to consolidated LLCs. 8. Includes credit extended by the Federal Reserve Bank of New York to eligible borrowers through the Term Asset-Backed Securities Loan Facility, net of unamortized deferred administrative fees. 9. Refer to table 7 and the note on consolidation accompanying table 10. 10. Refer to table 4 and the note on consolidation accompanying table 10. 11. Refer to table 5 and the note on consolidation accompanying table 10. 12. Refer to table 6 and the note on consolidation accompanying table 10. 13. Refer to table 8 and the note on consolidation accompanying table 10. 14. 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. 15. Includes other assets denominated in foreign currencies, which are revalued daily at market exchange rates. 16. Estimated. 17. Cash value of agreements, which are collateralized by U.S. Treasury securities. 18. Includes the liabilities of Commercial Paper Funding Facility LLC, Maiden Lane LLC, Maiden Lane II LLC, Maiden Lane III LLC, and TALF 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 4 through table 8 and the note on consolidation accompanying table 10. 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 Nov 25, 2009 Nov 18, 2009 Nov 26, 2008 Nov 25, 2009 Marketable securities held in custody for foreign official and international accounts (1) 2,925,301 - 2,672 + 427,218 2,923,110 U.S. Treasury securities 2,158,365 - 3,364 + 540,600 2,156,007 Federal agency securities (2) 766,937 + 693 - 113,381 767,103 Securities lent to dealers 6,161 - 1,312 - 190,158 6,927 Overnight facility (3) 6,161 - 1,312 - 2,710 6,927 U.S. Treasury securities 5,110 - 1,094 - 3,761 5,542 Federal agency debt securities 1,050 - 219 + 1,050 1,385 Term facility (4) 0 0 - 187,447 0 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. U.S. Treasury securities only. 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, November 25, 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 31,908 69,101 --- --- --- --- 101,009 Other loans (1) 15,449 4,529 0 89,599 0 --- 109,578 U.S. Treasury securities (2) Holdings 16,028 24,111 48,711 331,336 211,686 144,662 776,535 Weekly changes - 3,520 + 3,520 0 + 2 + 2 + 4 + 8 Federal agency debt securities (3) Holdings 30 1,591 22,333 95,670 33,395 2,047 155,066 Weekly changes + 30 - 30 + 816 + 2,124 - 923 0 + 2,017 Mortgage-backed securities (4) Holdings 0 0 0 0 0 852,124 852,124 Weekly changes 0 0 0 0 0 + 5,082 + 5,082 Commercial paper held by Commercial Paper Funding Facility LLC (5) 1,059 9,440 0 --- --- --- 10,499 Asset-backed securities held by TALF LLC (6) 0 0 0 0 0 0 0 Repurchase agreements (7) 0 0 --- --- --- --- 0 Central bank liquidity swaps (8) 20,889 4,922 0 0 0 0 25,811 Reverse repurchase agreements (7) 58,483 0 --- --- --- --- 58,483 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, Maiden Lane LLC, Maiden Lane II LLC, Maiden Lane III LLC, and TALF 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 asset-backed securities held by TALF LLC, which is the remaining principal balance of the underlying assets. 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. Supplemental Information on Mortgage-Backed Securities Purchase Program Millions of dollars Wednesday Account name Nov 25, 2009 Mortgage-backed securities held outright (1) 852,124 Commitments to buy mortgage-backed securities (2) 146,430 Commitments to sell mortgage-backed securities (2) 0 Cash and cash equivalents (3) 106 1. 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. 2. Current face value. Generally settle within 180 days and include commitments associated with outright transactions as well as dollar rolls. 3. This amount is included in other Federal Reserve assets in table 1 and in other assets in table 9 and table 10. 4. Information on Principal Accounts of Maiden Lane LLC Millions of dollars Wednesday Account name Nov 25, 2009 Net portfolio holdings of Maiden Lane LLC (1) 26,361 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) 399 Outstanding principal amount and accrued interest on loan payable to JPMorgan Chase & Co. (3) 1,242 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, 2009. 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 10. 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 9 and table 10. 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. 5. Information on Principal Accounts of Maiden Lane II LLC Millions of dollars Wednesday Account name Nov 25, 2009 Net portfolio holdings of Maiden Lane II LLC (1) 15,845 Outstanding principal amount of loan extended by the Federal Reserve Bank of New York (2) 16,018 Accrued interest payable to the Federal Reserve Bank of New York (2) 247 Deferred payment and accrued interest payable to subsidiaries of American International Group, Inc. (3) 1,033 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, 2009. 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 10. 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 9 and table 10. 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. 6. Information on Principal Accounts of Maiden Lane III LLC Millions of dollars Wednesday Account name Nov 25, 2009 Net portfolio holdings of Maiden Lane III LLC (1) 22,961 Outstanding principal amount of loan extended by the Federal Reserve Bank of New York (2) 18,615 Accrued interest payable to the Federal Reserve Bank of New York (2) 319 Outstanding principal amount and accrued interest on loan payable to American International Group, Inc. (3) 5,177 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, 2009. 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 10. 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 9 and table 10. 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. 7. Information on Principal Accounts of Commercial Paper Funding Facility LLC Millions of dollars Wednesday Account name Nov 25, 2009 Commercial paper holdings, net (1) 10,232 Other investments, net 4,814 Net portfolio holdings of Commercial Paper Funding Facility LLC 15,046 Memorandum: Commercial paper holdings, face value 10,499 Outstanding principal amount of loan extended by the Federal Reserve Bank of New York (2) 10,425 Accrued interest payable to the Federal Reserve Bank of New York (2) 2 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 10. 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. 8. Information on Principal Accounts of TALF LLC Millions of dollars Wednesday Account name Nov 25, 2009 Asset-backed securities holdings (1) 0 Other investments, net 266 Net portfolio holdings of TALF LLC 266 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 Funding provided by U.S. Treasury to TALF LLC, including accrued interest payable (3) 102 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. 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 10. 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 9 and table 10. Note: On November 25, 2008, the Federal Reserve announced the creation of the Term Asset-Backed Securities Loan Facility (TALF) under the authority of section 13(3) of the Federal Reserve Act. The TALF is a facility under which the Federal Reserve Bank of New York (FRBNY) extends loans with a term of up to five years to holders of eligible asset-backed securities. The TALF is intended to assist financial markets in accommodating the credit needs of consumers and businesses by facilitating the issuance of asset-backed securities collateralized by a variety of consumer and business loans. The loans provided through the TALF to eligible borrowers are non-recourse, meaning that the obligation of the borrower can be discharged by surrendering the collateral to the FRBNY. The loans are extended for the market value of the security less an amount known as a haircut. As a result, the borrower bears the initial risk of a decline in the value of the security. TALF LLC is a limited liability company formed to purchase and manage any asset-backed securities received by the FRBNY in connection with the decision of a borrower not to repay a TALF loan. TALF LLC has committed, for a fee, to purchase all asset-backed securities received by the FRBNY in conjunction with a TALF loan at a price equal to the TALF loan plus accrued but unpaid interest. Losses on asset-backed securities held by TALF LLC will be offset in the following order: by the commitment fees collected by TALF LLC, by the interest received on investments of TALF LLC, by up to $20 billion in subordinated debt funding provided by the U.S. Treasury, and finally, by senior debt funding provided by the FRBNY. Payments by TALF LLC from the proceeds of its net portfolio holdings will be made in the following order: operating expenses of TALF LLC, principal due to the FRBNY, principal due to the U.S. Treasury, interest due to the FRBNY, and interest due to the U.S. Treasury. Any remaining funds will be shared by the FRBNY and the U.S. Treasury. 9. Consolidated Statement of Condition of All Federal Reserve Banks Millions of dollars Eliminations Change since from Wednesday Wednesday Wednesday Assets, liabilities, and capital consolidation Nov 25, 2009 Nov 18, 2009 Nov 26, 2008 Assets Gold certificate account 11,037 0 0 Special drawing rights certificate account 5,200 0 + 3,000 Coin 2,016 - 21 + 374 Securities, repurchase agreements, term auction credit, and other loans 1,994,313 - 294 + 760,128 Securities held outright (1) 1,783,726 + 7,108 +1,295,098 U.S. Treasury securities 776,535 + 8 + 300,128 Bills (2) 18,423 0 0 Notes and bonds, nominal (2) 707,649 0 + 297,158 Notes and bonds, inflation-indexed (2) 44,643 0 + 3,572 Inflation compensation (3) 5,821 + 8 - 601 Federal agency debt securities (2) 155,066 + 2,017 + 142,845 Mortgage-backed securities (4) 852,124 + 5,082 + 852,124 Repurchase agreements (5) 0 0 - 80,000 Term auction credit 101,009 - 8,447 - 305,499 Other loans 109,578 + 1,046 - 149,470 Net portfolio holdings of Commercial Paper Funding Facility LLC (6) 15,046 + 3 - 279,048 Net portfolio holdings of Maiden Lane LLC (7) 26,361 + 12 - 618 Net portfolio holdings of Maiden Lane II LLC (8) 15,845 + 79 + 15,845 Net portfolio holdings of Maiden Lane III LLC (9) 22,961 + 10 + 1,813 Net portfolio holdings of TALF LLC (10) 266 + 35 + 266 Items in process of collection (232) 639 + 189 - 457 Bank premises 2,226 - 2 + 46 Central bank liquidity swaps (11) 25,811 - 2,467 - 449,624 Other assets (12) 87,847 + 83 + 50,191 Total assets (232) 2,209,567 - 2,372 + 101,916 Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table. 9. 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 Nov 25, 2009 Nov 18, 2009 Nov 26, 2008 Liabilities Federal Reserve notes, net of F.R. Bank holdings 883,034 + 3,677 + 47,951 Reverse repurchase agreements (13) 58,483 - 1,423 - 41,278 Deposits (0) 1,200,735 - 5,085 + 83,475 Depository institutions 1,168,570 + 59,301 + 557,375 U.S. Treasury, general account 12,997 - 49,312 - 4,358 U.S. Treasury, supplementary financing account 14,999 0 - 464,055 Foreign official 2,126 - 831 + 1,939 Other (0) 2,042 - 14,243 - 7,428 Deferred availability cash items (232) 2,281 - 63 - 330 Other liabilities and accrued dividends (14) 12,220 - 464 + 2,170 Total liabilities (232) 2,156,754 - 3,357 + 91,989 Capital accounts Capital paid in 25,423 + 61 + 4,552 Surplus 21,440 + 9 + 4,270 Other capital accounts 5,951 + 917 + 1,107 Total capital 52,814 + 986 + 9,928 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 7 and the note on consolidation accompanying table 10. 7. Refer to table 4 and the note on consolidation accompanying table 10. 8. Refer to table 5 and the note on consolidation accompanying table 10. 9. Refer to table 6 and the note on consolidation accompanying table 10. 10. Refer to table 8 and the note on consolidation accompanying table 10. 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, Maiden Lane LLC, Maiden Lane II LLC, Maiden Lane III LLC, and TALF 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 4 through table 8 and the note on consolidation accompanying table 10. 10. Statement of Condition of Each Federal Reserve Bank, November 25, 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 11,037 412 3,895 450 467 882 1,356 911 329 197 335 621 1,182 Special drawing rights certificate acct. 5,200 196 1,818 210 237 412 654 424 150 90 153 282 574 Coin 2,016 67 78 163 147 286 234 270 33 61 136 216 325 Securities, repurchase agreements, term auction credit, and other loans 1,994,313 41,701 879,353 32,458 72,341 65,562 215,623 195,695 71,052 29,864 81,492 86,802 222,368 Securities held outright (1) 1,783,726 34,217 697,215 27,673 70,471 64,280 214,914 193,018 69,880 29,530 80,516 86,246 215,765 U.S. Treasury securities 776,535 14,896 303,529 12,047 30,679 27,984 93,562 84,029 30,422 12,856 35,052 37,547 93,932 Bills (2) 18,423 353 7,201 286 728 664 2,220 1,994 722 305 832 891 2,228 Notes and bonds (3) 758,113 14,543 296,328 11,761 29,952 27,320 91,342 82,036 29,700 12,551 34,221 36,656 91,704 Federal agency debt securities (2) 155,066 2,975 60,611 2,406 6,126 5,588 18,683 16,780 6,075 2,567 7,000 7,498 18,757 Mortgage-backed securities (4) 852,124 16,346 333,074 13,220 33,666 30,708 102,669 92,209 33,383 14,107 38,464 41,201 103,076 Repurchase agreements (5) 0 0 0 0 0 0 0 0 0 0 0 0 0 Term auction credit 101,009 7,342 74,075 4,578 1,867 1,143 384 2,240 1,138 280 965 550 6,449 Other loans 109,578 142 108,064 207 3 139 325 438 34 54 11 7 154 Net portfolio holdings of Commercial Paper Funding Facility LLC (6) 15,046 0 15,046 0 0 0 0 0 0 0 0 0 0 Net portfolio holdings of Maiden Lane LLC (7) 26,361 0 26,361 0 0 0 0 0 0 0 0 0 0 Net portfolio holdings of Maiden Lane II LLC (8) 15,845 0 15,845 0 0 0 0 0 0 0 0 0 0 Net portfolio holdings of Maiden Lane III LLC (9) 22,961 0 22,961 0 0 0 0 0 0 0 0 0 0 Net portfolio holdings of TALF LLC (10) 266 0 266 0 0 0 0 0 0 0 0 0 0 Items in process of collection 871 22 0 100 167 43 313 38 42 36 23 44 43 Bank premises 2,226 120 250 70 145 237 221 206 134 111 269 252 212 Central bank liquidity swaps (11) 25,811 1,051 6,547 2,883 1,933 7,448 2,007 876 261 404 259 337 1,804 Other assets (12) 87,847 2,268 31,008 4,020 4,370 9,880 9,338 7,411 2,640 1,437 3,006 3,294 9,174 Interdistrict settlement account 0 + 14,623 + 32,049 + 22,105 - 18,727 + 245,878 - 75,776 - 87,275 - 35,347 - 8,557 - 30,863 - 19,546 - 38,566 Total assets 2,209,799 60,461 1,035,477 62,459 61,080 330,628 153,970 118,557 39,293 23,643 54,810 72,303 197,118 Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table. 10. Statement of Condition of Each Federal Reserve Bank, November 25, 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 1,080,008 35,914 397,304 38,850 45,135 82,476 135,850 85,485 30,646 19,398 28,791 63,321 116,840 Less: Notes held by F.R. Banks 196,974 4,283 71,004 6,145 8,840 11,159 31,215 13,109 4,365 2,883 3,220 13,865 26,886 Federal Reserve notes, net 883,034 31,630 326,300 32,704 36,295 71,317 104,635 72,376 26,281 16,514 25,570 49,456 89,954 Reverse repurchase agreements (13) 58,483 1,122 22,859 907 2,311 2,108 7,046 6,328 2,291 968 2,640 2,828 7,074 Deposits 1,200,735 25,545 662,243 22,939 18,022 242,124 37,983 37,672 9,894 4,191 25,779 18,836 95,507 Depository institutions 1,168,570 25,524 630,294 22,934 18,018 242,015 37,980 37,625 9,890 4,191 25,778 18,835 95,487 U.S. Treasury, general account 12,997 0 12,997 0 0 0 0 0 0 0 0 0 0 U.S. Treasury, supplementary financing account 14,999 0 14,999 0 0 0 0 0 0 0 0 0 0 Foreign official 2,126 2 2,097 4 3 11 3 1 0 1 0 1 3 Other 2,042 20 1,856 0 1 98 0 45 4 0 1 0 17 Deferred availability cash items 2,513 63 0 387 324 103 300 175 59 370 113 134 485 Other liabilities and accrued dividends (14) 12,220 173 8,382 215 285 585 619 514 233 148 220 275 572 Total liabilities 2,156,985 58,533 1,019,784 57,152 57,237 316,237 150,584 117,066 38,758 22,191 54,323 71,529 193,592 Capital Capital paid in 25,423 945 7,427 2,627 1,910 7,136 1,579 622 240 712 209 350 1,667 Surplus 21,440 844 5,967 2,316 1,551 5,983 1,612 704 209 324 207 271 1,450 Other capital 5,951 139 2,299 364 381 1,273 196 165 87 416 70 153 409 Total liabilities and capital 2,209,799 60,461 1,035,477 62,459 61,080 330,628 153,970 118,557 39,293 23,643 54,810 72,303 197,118 Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table. 10. Statement of Condition of Each Federal Reserve Bank, November 25, 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 7 and the note on consolidation below. 7. Refer to table 4 and the note on consolidation below. 8. Refer to table 5 and the note on consolidation below. 9. Refer to table 6 and the note on consolidation below. 10. Refer to table 8 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, Maiden Lane LLC, Maiden Lane II LLC, Maiden Lane III LLC, and TALF 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 4 through table 8 and the note on consolidation below. Note on consolidation: The Federal Reserve Bank of New York (FRBNY) has extended loans to several limited liability companies under the authority of section 13(3) of the Federal Reserve Act. On June 26, 2008, a loan was extended to Maiden Lane LLC, which was formed to acquire certain assets of Bear Stearns. On October 27, 2008, the FRBNY began extending loans to Commercial Paper Funding Facility LLC, which was formed to purchase three-month U.S. dollar-denominated commercial paper from eligible issuers. On November 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. On November 25, 2008, the Federal Reserve Board authorized the FRBNY to extend credit to TALF LLC, which was formed to purchase and manage any asset-backed securities received by the FRBNY in connection with the decision of a borrower not to repay a loan extended under the Term Asset-Backed Securities Loan Facility. The FRBNY is the sole beneficiary of Commercial Paper Funding Facility LLC. The FRBNY is the primary beneficiary of TALF LLC, because of the two beneficiaries of the LLC, the FRBNY and the U.S. Treasury, the FRBNY is primarily responsible for directing the financial activities of TALF LLC. The FRBNY is the primary beneficiary of the other LLCs cited above because it will receive a majority of any residual returns of the LLCs and absorb a majority of any residual losses of the LLCs. 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 9), 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 9). 11. Collateral Held against Federal Reserve Notes: Federal Reserve Agents' Accounts Millions of dollars Federal Reserve notes and collateral Wednesday Nov 25, 2009 Federal Reserve notes outstanding 1,080,008 Less: Notes held by F.R. Banks not subject to collateralization 196,974 Federal Reserve notes to be collateralized 883,034 Collateral held against Federal Reserve notes 883,034 Gold certificate account 11,037 Special drawing rights certificate account 5,200 U.S. Treasury, agency debt, and mortgage-backed securities pledged (1,2) 866,797 Other assets pledged 0 Memo: Total U.S. Treasury, agency debt, and mortgage-backed securities (1,2) 1,783,726 Less: Face value of securities under reverse repurchase agreements 57,769 U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 1,725,956 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. 2. Includes securities lent to dealers under the overnight and term securities lending facilities; refer to table 1A.