FEDERAL RESERVE statistical release H.4.1 Factors Affecting Reserve Balances of Depository Institutions and Condition Statement of Federal Reserve Banks May 26, 2011 1. Factors Affecting Reserve Balances of Depository Institutions Millions of dollars Reserve Bank credit, related items, and Averages of daily figures Wednesday reserve balances of depository institutions at Week ended Change from week ended May 25, 2011 Federal Reserve Banks May 25, 2011 May 18, 2011 May 26, 2010 Reserve Bank credit 2,750,674 + 11,189 + 427,408 2,759,361 Securities held outright (1) 2,546,417 + 14,026 + 484,246 2,556,276 U.S. Treasury securities 1,504,588 + 20,993 + 727,726 1,519,327 Bills (2) 18,423 0 0 18,423 Notes and bonds, nominal (2) 1,417,325 + 19,663 + 705,302 1,432,009 Notes and bonds, inflation-indexed (2) 61,004 + 1,029 + 19,879 61,004 Inflation compensation (3) 7,837 + 302 + 2,547 7,892 Federal agency debt securities (2) 119,205 - 4,044 - 48,172 119,093 Mortgage-backed securities (4) 922,625 - 2,921 - 195,307 917,856 Repurchase agreements (5) 0 0 0 0 Loans 14,651 - 367 - 60,568 14,270 Primary credit 11 + 8 - 4,304 7 Secondary credit 0 0 - 400 0 Seasonal credit 22 + 4 - 26 26 Credit extended to American International Group, Inc., net (6) 0 0 - 26,133 0 Term Asset-Backed Securities Loan Facility (7) 14,617 - 381 - 29,705 14,237 Other credit extensions 0 0 0 0 Net portfolio holdings of Commercial Paper Funding Facility LLC (8) 0 0 - 2 0 Net portfolio holdings of Maiden Lane LLC (9) 24,427 - 36 - 3,884 24,475 Net portfolio holdings of Maiden Lane II LLC (10) 14,987 + 3 - 869 15,009 Net portfolio holdings of Maiden Lane III LLC (11) 24,375 - 36 + 1,002 24,379 Net portfolio holdings of TALF LLC (12) 744 + 11 + 272 746 Preferred interests in AIA Aurora LLC and ALICO Holdings LLC (6) 0 0 - 25,416 0 Float -835 + 162 + 877 -1,107 Central bank liquidity swaps (13) 0 0 - 1,242 0 Other Federal Reserve assets (14) 125,907 - 2,575 + 32,990 125,313 Gold stock 11,041 0 0 11,041 Special drawing rights certificate account 5,200 0 0 5,200 Treasury currency outstanding (15) 43,888 + 14 + 799 43,888 Total factors supplying reserve funds 2,810,802 + 11,202 + 428,206 2,819,490 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 Wednesday reserve balances of depository institutions at Week ended Change from week ended May 25, 2011 Federal Reserve Banks May 25, 2011 May 18, 2011 May 26, 2010 Currency in circulation (15) 1,017,766 + 484 + 79,846 1,020,778 Reverse repurchase agreements (16) 55,282 - 348 - 2,798 54,181 Foreign official and international accounts 55,282 - 348 - 2,798 54,181 Others 0 0 0 0 Treasury cash holdings 141 - 7 - 55 144 Deposits with F.R. Banks, other than reserve balances 92,321 - 13,442 - 138,159 81,743 Term deposits held by depository institutions 0 0 0 0 U.S. Treasury, general account 84,259 - 7,189 + 58,182 73,694 U.S. Treasury, supplementary financing account 5,000 0 - 194,957 5,000 Foreign official 127 - 21 - 1,315 126 Service-related 2,543 - 3 - 100 2,543 Required clearing balances 2,543 - 3 - 100 2,543 Adjustments to compensate for float 0 0 0 0 Other 391 - 6,231 + 30 380 Funds from American International Group, Inc. asset dispositions, held as agent (6) 0 0 0 0 Other liabilities and capital (17) 73,788 + 270 + 2,087 73,093 Total factors, other than reserve balances, absorbing reserve funds 1,239,297 - 13,045 - 59,080 1,229,939 Reserve balances with Federal Reserve Banks 1,571,505 + 24,248 + 487,286 1,589,551 Note: Components may not sum to totals because of rounding. 1. Includes securities lent to dealers under the overnight securities lending facility; 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. As a result of the closing of the American International Group, Inc. (AIG) recapitalization plan on January 14, 2011, the credit extended to AIG was fully repaid and the Federal Reserve's commitment to lend any further funds was terminated. In addition, the Federal Reserve Bank of New York (FRBNY) has been paid in full for its preferred interests in AIA Aurora LLC and ALICO Holdings LLC. The funds from AIG asset dispositions that FRBNY held as agent were the source of repayment of the credit extended to AIG, as well as a portion of the FRBNY's preferred interests in ALICO Holdings LLC. The remaining FRBNY preferred interests in ALICO Holdings LLC and AIA Aurora LLC, valued at approximately $20 billion, were purchased by AIG through a draw on the Treasury's Series F preferred stock commitment and then transferred by AIG to the Treasury as consideration for the draw on the available Series F funds. 7. Includes credit extended by the Federal Reserve Bank of New York to eligible borrowers through the Term Asset-Backed Securities Loan Facility. 8. Includes the book value of the commercial paper, net of amortized costs and related fees, and other investments held by the Commercial Paper Funding Facility LLC. 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. Refer to table 6 and the note on consolidation accompanying table 9. 12. Refer to table 7 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, and the fair value adjustment to credit extended by the FRBNY to eligible borrowers through the Term Asset-Backed Securities Loan Facility. Before the closing of the AIG recapitalization plan on January 14, 2011, included accrued dividends on the FRBNY's preferred interests in AIA Aurora LLC and ALICO Holdings LLC. 15. Estimated. 16. Cash value of agreements, which are collateralized by U.S. Treasury securities, federal agency debt securities, and mortgage-backed securities. 17. Includes the liabilities of 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 7 and the note on consolidation accompanying table 9. Also includes the liability for interest on Federal Reserve notes due to U.S. Treasury. Refer to table 8 and table 9. Sources: Federal Reserve Banks and the U.S. Department of the Treasury. 1A. Memorandum Items Millions of dollars Averages of daily figures Wednesday Week ended Change from week ended May 25, 2011 Memorandum item May 25, 2011 May 18, 2011 May 26, 2010 Marketable securities held in custody for foreign official and international accounts (1) 3,442,183 - 428 + 375,915 3,428,775 U.S. Treasury securities 2,698,837 - 1,515 + 434,323 2,685,357 Federal agency securities (2) 743,346 + 1,087 - 58,408 743,419 Securities lent to dealers 17,242 - 4,392 + 13,827 19,938 Overnight facility (3) 17,242 - 4,392 + 13,827 19,938 U.S. Treasury securities 16,224 - 4,599 + 14,118 18,890 Federal agency debt securities 1,018 + 207 - 292 1,048 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 and mortgage-backed securities at original face value. 2. Includes debt and mortgage-backed securities. 3. Fully collateralized by U.S. Treasury securities. 2. Maturity Distribution of Securities, Loans, and Selected Other Assets and Liabilities, May 25, 2011 Millions of dollars Within 15 16 days to 91 days to Over 1 year Over 5 years Over 10 All Remaining maturity days 90 days 1 year to 5 years to 10 years years Loans (1) 26 7 560 13,677 0 ... 14,270 U.S. Treasury securities (2) Holdings 21,396 14,850 89,587 655,085 546,030 192,379 1,519,327 Weekly changes - 2,504 + 2,503 + 8 + 6,424 + 13,928 + 3,802 + 24,161 Federal agency debt securities (3) Holdings 0 9,317 16,524 68,156 22,749 2,347 119,093 Weekly changes - 1,665 + 884 + 30 - 914 0 0 - 1,665 Mortgage-backed securities (4) Holdings 0 0 0 18 22 917,815 917,856 Weekly changes 0 0 0 0 - 1 - 5,723 - 5,723 Asset-backed securities held by TALF LLC (5) 0 0 0 0 0 0 0 Repurchase agreements (6) 0 0 ... ... ... ... 0 Central bank liquidity swaps (7) 0 0 0 0 0 0 0 Reverse repurchase agreements (6) 54,181 0 ... ... ... ... 54,181 Term deposits 0 0 0 ... ... ... 0 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 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 asset-backed securities held by TALF LLC, which is the remaining principal balance of the underlying assets. 6. Cash value of agreements. 7. 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 May 25, 2011 Mortgage-backed securities held outright (1) 917,856 Commitments to buy mortgage-backed securities (2) 0 Commitments to sell mortgage-backed securities (2) 0 Cash and cash equivalents (3) 0 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, dollar rolls, and coupon swaps. 3. This amount is included in other Federal Reserve assets in table 1 and in other assets in table 8 and table 9. 4. Information on Principal Accounts of Maiden Lane LLC Millions of dollars Wednesday Account name May 25, 2011 Net portfolio holdings of Maiden Lane LLC (1) 24,475 Outstanding principal amount of loan extended by the Federal Reserve Bank of New York (2) 21,719 Accrued interest payable to the Federal Reserve Bank of New York (2) 690 Outstanding principal amount and accrued interest on loan payable to JPMorgan Chase & Co. (3) 1,342 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 March 31, 2011. 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. 5. Information on Principal Accounts of Maiden Lane II LLC Millions of dollars Wednesday Account name May 25, 2011 Net portfolio holdings of Maiden Lane II LLC (1) 15,009 Outstanding principal amount of loan extended by the Federal Reserve Bank of New York (2) 10,542 Accrued interest payable to the Federal Reserve Bank of New York (2) 514 Deferred payment and accrued interest payable to subsidiaries of American International Group, Inc. (3) 1,085 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 March 31, 2011. 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. 6. Information on Principal Accounts of Maiden Lane III LLC Millions of dollars Wednesday Account name May 25, 2011 Net portfolio holdings of Maiden Lane III LLC (1) 24,379 Outstanding principal amount of loan extended by the Federal Reserve Bank of New York (2) 11,985 Accrued interest payable to the Federal Reserve Bank of New York (2) 610 Outstanding principal amount and accrued interest on loan payable to American International Group, Inc. (3) 5,435 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 March 31, 2011. 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. 7. Information on Principal Accounts of TALF LLC Millions of dollars Wednesday Account name May 25, 2011 Asset-backed securities holdings (1) 0 Other investments, net 746 Net portfolio holdings of TALF LLC 746 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) 107 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 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 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 $4.3 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. 8. Consolidated Statement of Condition of All Federal Reserve Banks Millions of dollars Eliminations from Wednesday Change since consolidation May 25, 2011 Wednesday Wednesday Assets, liabilities, and capital May 18, 2011 May 26, 2010 Assets Gold certificate account 11,037 0 0 Special drawing rights certificate account 5,200 0 0 Coin 2,130 - 19 + 116 Securities, repurchase agreements, and loans 2,570,545 + 16,062 + 438,444 Securities held outright (1) 2,556,276 + 16,773 + 499,112 U.S. Treasury securities 1,519,327 + 24,161 + 742,450 Bills (2) 18,423 0 0 Notes and bonds, nominal (2) 1,432,009 + 24,011 + 719,986 Notes and bonds, inflation-indexed (2) 61,004 0 + 19,879 Inflation compensation (3) 7,892 + 150 + 2,586 Federal agency debt securities (2) 119,093 - 1,665 - 48,284 Mortgage-backed securities (4) 917,856 - 5,723 - 195,054 Repurchase agreements (5) 0 0 0 Loans 14,270 - 710 - 60,667 Net portfolio holdings of Commercial Paper Funding Facility LLC (6) 0 0 - 2 Net portfolio holdings of Maiden Lane LLC (7) 24,475 + 56 - 3,854 Net portfolio holdings of Maiden Lane II LLC (8) 15,009 + 25 - 901 Net portfolio holdings of Maiden Lane III LLC (9) 24,379 + 5 + 999 Net portfolio holdings of TALF LLC (10) 746 + 13 + 268 Preferred interests in AIA Aurora LLC and ALICO Holdings LLC (11) 0 0 - 25,416 Items in process of collection (141) 272 - 82 - 2 Bank premises 2,213 + 3 - 23 Central bank liquidity swaps (12) 0 0 - 1,242 Other assets (13) 123,096 + 858 + 33,207 Total assets (141) 2,779,103 + 16,921 + 441,596 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 from Wednesday Change since consolidation May 25, 2011 Wednesday Wednesday Assets, liabilities, and capital May 18, 2011 May 26, 2010 Liabilities Federal Reserve notes, net of F.R. Bank holdings 979,160 + 2,826 + 79,378 Reverse repurchase agreements (14) 54,181 - 3,245 - 3,977 Deposits (0) 1,671,290 + 17,449 + 364,490 Term deposits held by depository institutions 0 0 0 Other deposits held by depository institutions 1,592,091 + 53,392 + 503,688 U.S. Treasury, general account 73,694 - 35,926 + 56,966 U.S. Treasury, supplementary financing account 5,000 0 - 194,957 Foreign official 126 + 1 - 1,223 Other (0) 380 - 16 + 18 Deferred availability cash items (141) 1,379 + 6 - 713 Other liabilities and accrued dividends (15) 20,435 - 175 + 4,808 Total liabilities (141) 2,726,445 + 16,861 + 443,986 Capital accounts Capital paid in 26,329 + 30 - 87 Surplus 26,329 + 30 + 661 Other capital accounts 0 0 - 2,963 Total capital 52,658 + 61 - 2,390 Note: Components may not sum to totals because of rounding. 1. Includes securities lent to dealers under the overnight securities lending facility; 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. Includes the book value of the commercial paper, net of amortized costs and related fees, and other investments held by the Commercial Paper Funding Facility LLC. 7. Refer to table 4 and the note on consolidation accompanying table 9. 8. Refer to table 5 and the note on consolidation accompanying table 9. 9. Refer to table 6 and the note on consolidation accompanying table 9. 10. Refer to table 7 and the note on consolidation accompanying table 9. 11. As a result of the closing of the AIG recapitalization plan on January 14, 2011, the Federal Reserve Bank of New York has been paid in full for its preferred interests in AIA Aurora LLC and ALICO Holdings LLC. A portion of the preferred interests was redeemed by AIG with the funds from AIG asset dispositions that were held as agent by the Federal Reserve. 12. 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. 13. Includes other assets denominated in foreign currencies, which are revalued daily at market exchange rates and the fair value adjustment to credit extended by the Federal Reserve Bank of New York (FRBNY) to eligible borrowers through the Term Asset-Backed Securities Loan Facility. Before the closing of the AIG recapitalization plan on January 14, 2011, included accrued dividends on the FRBNY's preferred interests in AIA Aurora LLC and ALICO Holdings LLC. 14. Cash value of agreements, which are collateralized by U.S. Treasury securities, federal agency debt securities, and mortgage-backed securities. 15. Includes the liabilities of 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 7 and the note on consolidation accompanying table 9. Also includes the liability for interest on Federal Reserve notes due to U.S. Treasury. Before the closing of the AIG recapitalization plan on January 14, 2011, included funds from American International Group, Inc. asset dispositions, held as agent. 9. Statement of Condition of Each Federal Reserve Bank, May 25, 2011 Millions of dollars Total Boston New York Philadelphia Cleveland Richmond Atlanta Chicago St. Louis Minneapolis Kansas Dallas San Assets, liabilities, and capital City Francisco Assets Gold certificate account 11,037 390 3,866 432 450 872 1,394 854 319 197 318 728 1,217 Special drawing rights certificate acct. 5,200 196 1,818 210 237 412 654 424 150 90 153 282 574 Coin 2,130 52 78 159 155 356 176 331 32 61 160 215 354 Securities, repurchase agreements, and loans 2,570,545 62,850 1,203,015 87,568 69,050 295,224 190,050 151,817 48,387 39,292 67,998 101,101 254,192 Securities held outright (1) 2,556,276 62,850 1,188,778 87,568 69,050 295,224 190,040 151,806 48,383 39,286 67,998 101,101 254,192 U.S. Treasury securities 1,519,327 37,355 706,552 52,046 41,040 175,467 112,951 90,226 28,756 23,350 40,415 60,090 151,080 Bills (2) 18,423 453 8,567 631 498 2,128 1,370 1,094 349 283 490 729 1,832 Notes and bonds (3) 1,500,904 36,902 697,985 51,415 40,543 173,339 111,581 89,132 28,408 23,067 39,925 59,361 149,248 Federal agency debt securities (2) 119,093 2,928 55,383 4,080 3,217 13,754 8,854 7,072 2,254 1,830 3,168 4,710 11,842 Mortgage-backed securities (4) 917,856 22,567 426,842 31,442 24,793 106,003 68,236 54,507 17,372 14,106 24,415 36,301 91,270 Repurchase agreements (5) 0 0 0 0 0 0 0 0 0 0 0 0 0 Loans 14,270 0 14,237 0 0 0 10 12 5 6 0 0 0 Net portfolio holdings of Commercial Paper Funding Facility LLC (6) 0 0 0 0 0 0 0 0 0 0 0 0 0 Net portfolio holdings of Maiden Lane LLC (7) 24,475 0 24,475 0 0 0 0 0 0 0 0 0 0 Net portfolio holdings of Maiden Lane II LLC (8) 15,009 0 15,009 0 0 0 0 0 0 0 0 0 0 Net portfolio holdings of Maiden Lane III LLC (9) 24,379 0 24,379 0 0 0 0 0 0 0 0 0 0 Net portfolio holdings of TALF LLC (10) 746 0 746 0 0 0 0 0 0 0 0 0 0 Preferred interests in AIA Aurora LLC and ALICO Holdings LLC (11) 0 0 0 0 0 0 0 0 0 0 0 0 0 Items in process of collection 413 21 0 77 85 7 4 41 8 25 18 21 105 Bank premises 2,213 124 255 68 138 237 217 209 136 107 263 247 212 Central bank liquidity swaps (12) 0 0 0 0 0 0 0 0 0 0 0 0 0 Other assets (13) 123,096 3,315 52,422 5,915 4,578 16,635 8,721 6,401 2,059 2,331 2,820 4,245 13,655 Interdistrict settlement account 0 - 12,872 + 264,079 + 11,570 - 10,449 - 107,100 - 35,381 - 3,986 - 11,304 - 18,135 - 17,427 - 8,151 - 50,844 Total assets 2,779,243 54,075 1,590,142 105,999 64,245 206,643 165,836 156,092 39,788 23,967 54,303 98,688 219,465 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, May 25, 2011 (continued) Millions of dollars Total Boston New York Philadelphia Cleveland Richmond Atlanta Chicago St. Louis Minneapolis Kansas Dallas San Assets, liabilities, and capital City Francisco Liabilities Federal Reserve notes outstanding 1,135,618 43,330 387,556 47,379 52,786 90,477 140,220 89,085 32,370 19,490 32,075 75,091 125,760 Less: Notes held by F.R. Banks 156,459 4,769 42,047 5,638 8,001 12,378 22,482 12,775 4,193 5,486 3,436 11,187 24,067 Federal Reserve notes, net 979,160 38,561 345,509 41,741 44,785 78,099 117,738 76,310 28,177 14,004 28,640 63,904 101,693 Reverse repurchase agreements (14) 54,181 1,332 25,196 1,856 1,464 6,257 4,028 3,218 1,025 833 1,441 2,143 5,388 Deposits 1,671,290 12,023 1,188,403 57,166 13,513 110,358 40,340 74,604 9,886 6,960 23,398 31,425 103,213 Term deposits held by depository institutions 0 0 0 0 0 0 0 0 0 0 0 0 0 Other deposits held by depository institutions 1,592,091 12,021 1,109,354 57,162 13,509 110,243 40,338 74,602 9,885 6,959 23,397 31,424 103,197 U.S. Treasury, general account 73,694 0 73,694 0 0 0 0 0 0 0 0 0 0 U.S. Treasury, supplementary financing account 5,000 0 5,000 0 0 0 0 0 0 0 0 0 0 Foreign official 126 1 97 4 3 8 2 1 0 1 0 1 6 Other 380 1 258 0 1 107 0 1 0 0 1 0 10 Deferred availability cash items 1,520 73 0 250 201 52 86 104 47 348 72 77 210 Interest on Federal Reserve notes due to U.S. Treasury (15) 1,378 29 759 9 23 122 90 86 27 15 40 58 120 Other liabilities and accrued dividends (16) 19,057 221 14,843 314 311 889 533 440 181 167 192 302 663 Total liabilities 2,726,585 52,240 1,574,711 101,337 60,295 195,777 162,815 154,762 39,343 22,327 53,784 97,909 211,286 Capital Capital paid in 26,329 918 7,716 2,331 1,975 5,433 1,510 665 222 820 260 390 4,089 Surplus 26,329 918 7,716 2,331 1,975 5,433 1,510 665 222 820 260 390 4,089 Other capital 0 0 0 0 0 0 0 0 0 0 0 0 0 Total liabilities and capital 2,779,243 54,075 1,590,142 105,999 64,245 206,643 165,836 156,092 39,788 23,967 54,303 98,688 219,465 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, May 25, 2011 (continued) 1. Includes securities lent to dealers under the overnight securities lending facility; 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. Includes the book value of the commercial paper, net of amortized costs and related fees, and other investments held by the Commercial Paper Funding Facility LLC. 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 7 and the note on consolidation below. 11. As a result of the closing of the AIG recapitalization plan on January 14, 2011, the Federal Reserve Bank of New York has been paid in full for its preferred interests in AIA Aurora LLC and ALICO Holdings LLC. A portion of the preferred interests was redeemed by AIG with the funds from AIG asset dispositions that were held as agent by the Federal Reserve. 12. 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. 13. Includes other assets denominated in foreign currencies, which are revalued daily at market exchange rates and the fair value adjustment to credit extended by the Federal Reserve Bank of New York (FRBNY) to eligible borrowers through the Term Asset-Backed Securities Loan Facility. Before the closing of the AIG recapitalization plan on January 14, 2011, included accrued dividends on the FRBNY's preferred interests in AIA Aurora LLC and ALICO Holdings LLC. 14. Cash value of agreements, which are collateralized by U.S. Treasury securities, federal agency debt securities, and mortgage-backed securities. 15. Represents the estimated weekly remittances to U.S Treasury as interest on Federal Reserve notes or, in those cases where the Reserve Bank's net earnings are not sufficient to equate surplus to capital paid-in, the deferred asset for interest on Federal Reserve notes. The amount of any deferred asset, which is presented as a negative amount in this line, represents the amount of the Federal Reserve Bank's earnings that must be retained before remittances to the U.S. Treasury resume. The amounts on this line are calculated in accordance with Board of Governors policy, which requires the Federal Reserve Banks to remit residual earnings to the U.S. Treasury as interest on Federal Reserve notes after providing for the costs of operations, payment of dividends, and the amount necessary to equate surplus with capital paid-in. 16. Includes the liabilities of 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 7 and the note on consolidation below. Before the closing of the AIG recapitalization plan on January 14, 2011, included funds from American International Group, Inc. asset dispositions, held as agent. 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 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 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 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 Wednesday Federal Reserve notes and collateral May 25, 2011 Federal Reserve notes outstanding 1,135,618 Less: Notes held by F.R. Banks not subject to collateralization 156,459 Federal Reserve notes to be collateralized 979,160 Collateral held against Federal Reserve notes 979,160 Gold certificate account 11,037 Special drawing rights certificate account 5,200 U.S. Treasury, agency debt, and mortgage-backed securities pledged (1,2) 962,923 Other assets pledged 0 Memo: Total U.S. Treasury, agency debt, and mortgage-backed securities (1,2) 2,556,276 Less: Face value of securities under reverse repurchase agreements 50,257 U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 2,506,019 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 securities lending facility; refer to table 1A.