FEDERAL RESERVE statistical release H.4.1 Factors Affecting Reserve Balances of Depository Institutions and Condition Statement of Federal Reserve Banks August 25, 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 Aug 24, 2011 Federal Reserve Banks Aug 24, 2011 Aug 17, 2011 Aug 25, 2010 Reserve Bank credit 2,842,528 - 5,702 + 548,355 2,843,324 Securities held outright (1) 2,650,233 - 1,852 + 599,073 2,650,561 U.S. Treasury securities 1,647,856 + 2,709 + 865,027 1,648,435 Bills (2) 18,423 0 0 18,423 Notes and bonds, nominal (2) 1,554,087 + 2,728 + 836,230 1,554,672 Notes and bonds, inflation-indexed (2) 65,948 0 + 24,819 65,948 Inflation compensation (3) 9,399 - 18 + 3,978 9,392 Federal agency debt securities (2) 109,902 - 1,772 - 47,005 109,776 Mortgage-backed securities (4) 892,475 - 2,789 - 218,949 892,350 Repurchase agreements (5) 0 0 0 0 Loans 11,761 - 143 - 46,118 11,702 Primary credit 1 - 5 - 27 0 Secondary credit 0 0 - 1 0 Seasonal credit 100 + 2 + 7 107 Credit extended to American International Group, Inc., net (6) 0 0 - 20,090 0 Term Asset-Backed Securities Loan Facility (7) 11,660 - 141 - 26,007 11,595 Other credit extensions 0 0 0 0 Net portfolio holdings of Commercial Paper Funding Facility LLC (8) 0 0 0 0 Net portfolio holdings of Maiden Lane LLC (9) 18,178 - 9 - 10,804 18,202 Net portfolio holdings of Maiden Lane II LLC (10) 10,069 + 4 - 5,907 10,071 Net portfolio holdings of Maiden Lane III LLC (11) 21,316 - 35 - 2,009 21,320 Net portfolio holdings of TALF LLC (12) 774 + 7 + 204 775 Preferred interests in AIA Aurora LLC and ALICO Holdings LLC (6) 0 0 - 25,733 0 Float -945 + 137 + 727 -1,131 Central bank liquidity swaps (13) 500 + 300 + 461 500 Other Federal Reserve assets (14) 130,642 - 4,111 + 38,461 131,322 Gold stock 11,041 0 0 11,041 Special drawing rights certificate account 5,200 0 0 5,200 Treasury currency outstanding (15) 44,078 + 14 + 745 44,078 Total factors supplying reserve funds 2,902,847 - 5,688 + 549,101 2,903,642 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 Aug 24, 2011 Federal Reserve Banks Aug 24, 2011 Aug 17, 2011 Aug 25, 2010 Currency in circulation (15) 1,032,536 - 969 + 86,244 1,033,360 Reverse repurchase agreements (16) 96,511 - 3,429 + 36,078 99,519 Foreign official and international accounts 96,226 - 3,705 + 35,793 99,519 Others 286 + 277 + 286 0 Treasury cash holdings 116 + 3 - 105 131 Deposits with F.R. Banks, other than reserve balances 96,301 + 13,424 - 129,235 92,170 Term deposits held by depository institutions 5,088 0 + 2,969 5,088 U.S. Treasury, general account 20,782 + 610 + 1,959 10,896 U.S. Treasury, supplementary financing account 0 0 - 199,954 0 Foreign official 4,192 - 991 + 2,501 5,228 Service-related 2,484 - 2 + 26 2,484 Required clearing balances 2,484 - 2 + 26 2,484 Adjustments to compensate for float 0 0 0 0 Other 63,755 + 13,807 + 63,264 68,475 Funds from American International Group, Inc. asset dispositions, held as agent (6) 0 0 0 0 Other liabilities and capital (17) 71,606 + 791 - 437 70,897 Total factors, other than reserve balances, absorbing reserve funds 1,297,071 + 9,822 - 7,454 1,296,077 Reserve balances with Federal Reserve Banks 1,605,776 - 15,510 + 556,555 1,607,566 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 Aug 24, 2011 Memorandum item Aug 24, 2011 Aug 17, 2011 Aug 25, 2010 Marketable securities held in custody for foreign official and international accounts (1) 3,491,090 + 12,467 + 293,890 3,483,601 U.S. Treasury securities 2,756,947 + 12,666 + 381,155 2,749,019 Federal agency securities (2) 734,143 - 200 - 87,265 734,581 Securities lent to dealers 12,766 - 1,707 + 7,359 10,878 Overnight facility (3) 12,766 - 1,707 + 7,359 10,878 U.S. Treasury securities 12,154 - 1,653 + 8,143 10,252 Federal agency debt securities 612 - 54 - 785 626 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, August 24, 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) 95 12 2,319 9,276 0 ... 11,702 U.S. Treasury securities (2) Holdings 19,400 15,382 125,265 709,654 581,599 197,136 1,648,435 Weekly changes + 3,867 - 3,867 - 1 - 3 + 5,508 - 4,701 + 802 Federal agency debt securities (3) Holdings 0 2,972 19,594 64,718 20,145 2,347 109,776 Weekly changes - 884 + 693 + 1,198 - 1,891 0 0 - 884 Mortgage-backed securities (4) Holdings 0 0 0 15 23 892,312 892,350 Weekly changes 0 0 0 0 0 - 219 - 219 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) 500 0 0 0 0 0 500 Reverse repurchase agreements (6) 99,519 0 ... ... ... ... 99,519 Term deposits 5,088 0 0 ... ... ... 5,088 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 Aug 24, 2011 Mortgage-backed securities held outright (1) 892,350 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 Aug 24, 2011 Net portfolio holdings of Maiden Lane LLC (1) 18,202 Outstanding principal amount of loan extended by the Federal Reserve Bank of New York (2) 15,061 Accrued interest payable to the Federal Reserve Bank of New York (2) 727 Outstanding principal amount and accrued interest on loan payable to JPMorgan Chase & Co. (3) 1,360 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 June 30, 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 Aug 24, 2011 Net portfolio holdings of Maiden Lane II LLC (1) 10,071 Outstanding principal amount of loan extended by the Federal Reserve Bank of New York (2) 6,808 Accrued interest payable to the Federal Reserve Bank of New York (2) 538 Deferred payment and accrued interest payable to subsidiaries of American International Group, Inc. (3) 1,094 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 June 30, 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 Aug 24, 2011 Net portfolio holdings of Maiden Lane III LLC (1) 21,320 Outstanding principal amount of loan extended by the Federal Reserve Bank of New York (2) 10,536 Accrued interest payable to the Federal Reserve Bank of New York (2) 646 Outstanding principal amount and accrued interest on loan payable to American International Group, Inc. (3) 5,479 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 June 30, 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 Aug 24, 2011 Asset-backed securities holdings (1) 0 Other investments, net 775 Net portfolio holdings of TALF LLC 775 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) 108 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 Aug 24, 2011 Wednesday Wednesday Assets, liabilities, and capital Aug 17, 2011 Aug 25, 2010 Assets Gold certificate account 11,037 0 0 Special drawing rights certificate account 5,200 0 0 Coin 2,202 + 13 + 133 Securities, repurchase agreements, and loans 2,662,263 - 502 + 561,713 Securities held outright (1) 2,650,561 - 301 + 606,394 U.S. Treasury securities 1,648,435 + 802 + 863,937 Bills (2) 18,423 0 0 Notes and bonds, nominal (2) 1,554,672 + 820 + 835,142 Notes and bonds, inflation-indexed (2) 65,948 0 + 24,819 Inflation compensation (3) 9,392 - 18 + 3,975 Federal agency debt securities (2) 109,776 - 884 - 46,726 Mortgage-backed securities (4) 892,350 - 219 - 210,817 Repurchase agreements (5) 0 0 0 Loans 11,702 - 201 - 44,681 Net portfolio holdings of Commercial Paper Funding Facility LLC (6) 0 0 0 Net portfolio holdings of Maiden Lane LLC (7) 18,202 + 28 - 10,788 Net portfolio holdings of Maiden Lane II LLC (8) 10,071 + 3 - 5,959 Net portfolio holdings of Maiden Lane III LLC (9) 21,320 + 5 - 2,007 Net portfolio holdings of TALF LLC (10) 775 + 8 + 200 Preferred interests in AIA Aurora LLC and ALICO Holdings LLC (11) 0 0 - 25,733 Items in process of collection (109) 267 + 45 - 52 Bank premises 2,199 0 - 30 Central bank liquidity swaps (12) 500 + 300 + 461 Other assets (13) 129,117 + 1,558 + 40,839 Total assets (109) 2,863,155 + 1,460 + 558,779 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 Aug 24, 2011 Wednesday Wednesday Assets, liabilities, and capital Aug 17, 2011 Aug 25, 2010 Liabilities Federal Reserve notes, net of F.R. Bank holdings 991,611 - 771 + 85,334 Reverse repurchase agreements (14) 99,519 + 3,608 + 38,404 Deposits (0) 1,699,730 - 1,456 + 436,083 Term deposits held by depository institutions 5,088 0 + 2,969 Other deposits held by depository institutions 1,610,044 - 37,113 + 556,702 U.S. Treasury, general account 10,896 + 1,991 + 5,007 U.S. Treasury, supplementary financing account 0 0 - 199,954 Foreign official 5,228 + 102 + 3,318 Other (0) 68,475 + 33,565 + 68,042 Deferred availability cash items (109) 1,398 + 54 - 587 Other liabilities and accrued dividends (15) 19,067 + 11 + 4,027 Total liabilities (109) 2,811,325 + 1,447 + 563,260 Capital accounts Capital paid in 25,915 + 6 - 807 Surplus 25,915 + 6 + 70 Other capital accounts 0 0 - 3,743 Total capital 51,830 + 13 - 4,481 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, August 24, 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 2,202 51 72 163 162 365 198 333 41 57 166 228 365 Securities, repurchase agreements, and loans 2,662,263 65,168 1,244,220 90,798 71,597 306,113 197,060 157,414 50,202 40,772 70,522 104,830 263,568 Securities held outright (1) 2,650,561 65,168 1,232,625 90,798 71,597 306,113 197,050 157,405 50,167 40,735 70,506 104,830 263,568 U.S. Treasury securities 1,648,435 40,529 766,593 56,469 44,528 190,377 122,549 97,893 31,200 25,334 43,849 65,196 163,918 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) 1,630,013 40,076 758,026 55,838 44,030 188,250 121,179 96,799 30,851 25,051 43,359 64,467 162,086 Federal agency debt securities (2) 109,776 2,699 51,051 3,760 2,965 12,678 8,161 6,519 2,078 1,687 2,920 4,342 10,916 Mortgage-backed securities (4) 892,350 21,940 414,981 30,568 24,104 103,057 66,340 52,993 16,890 13,714 23,737 35,293 88,734 Repurchase agreements (5) 0 0 0 0 0 0 0 0 0 0 0 0 0 Loans 11,702 0 11,595 0 0 0 10 10 35 37 16 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) 18,202 0 18,202 0 0 0 0 0 0 0 0 0 0 Net portfolio holdings of Maiden Lane II LLC (8) 10,071 0 10,071 0 0 0 0 0 0 0 0 0 0 Net portfolio holdings of Maiden Lane III LLC (9) 21,320 0 21,320 0 0 0 0 0 0 0 0 0 0 Net portfolio holdings of TALF LLC (10) 775 0 775 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 376 24 0 51 113 5 28 44 9 16 10 26 49 Bank premises 2,199 123 255 67 137 236 214 207 135 106 261 247 212 Central bank liquidity swaps (12) 500 17 145 48 37 103 29 13 4 15 5 8 77 Other assets (13) 129,117 3,473 55,010 6,186 4,792 17,450 9,152 6,719 2,162 2,442 2,959 4,456 14,316 Interdistrict settlement account 0 - 1,007 + 231,159 - 2,543 + 4,823 - 124,235 - 33,475 - 9,084 - 9,501 - 18,968 - 19,213 + 60 - 18,016 Total assets 2,863,264 68,436 1,586,914 95,413 82,349 201,320 175,254 156,923 43,521 24,728 55,180 110,866 262,362 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, August 24, 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 1,156,484 43,211 386,489 46,564 55,275 95,740 143,289 90,713 34,017 19,303 32,100 75,246 134,539 Less: Notes held by F.R. Banks 164,873 5,556 44,368 6,474 7,897 12,556 24,008 13,419 4,525 5,550 3,522 11,165 25,833 Federal Reserve notes, net 991,611 37,655 342,121 40,090 47,378 83,184 119,280 77,294 29,492 13,753 28,578 64,081 108,706 Reverse repurchase agreements (14) 99,519 2,447 46,281 3,409 2,688 11,493 7,398 5,910 1,884 1,529 2,647 3,936 9,896 Deposits 1,699,730 26,142 1,168,439 46,692 27,800 94,548 44,937 71,625 11,437 8,718 23,142 41,647 134,603 Term deposits held by depository institutions 5,088 20 1,485 805 0 1,765 0 22 75 40 6 30 840 Other deposits held by depository institutions 1,610,044 26,102 1,082,607 45,884 27,796 92,644 44,935 71,574 11,321 8,676 23,134 41,617 133,754 U.S. Treasury, general account 10,896 0 10,896 0 0 0 0 0 0 0 0 0 0 U.S. Treasury, supplementary financing account 0 0 0 0 0 0 0 0 0 0 0 0 0 Foreign official 5,228 1 5,199 4 3 8 2 1 0 1 0 1 6 Other 68,475 18 68,252 0 1 130 0 28 41 0 1 0 3 Deferred availability cash items 1,507 69 0 203 214 59 89 112 49 341 72 68 232 Interest on Federal Reserve notes due to U.S. Treasury (15) 1,359 33 641 37 33 156 107 84 27 21 40 58 122 Other liabilities and accrued dividends (16) 17,709 205 13,911 273 273 760 489 412 181 146 183 291 585 Total liabilities 2,811,434 66,550 1,571,392 90,704 78,385 190,200 172,300 155,437 43,070 24,508 54,662 110,082 254,143 Capital Capital paid in 25,915 943 7,761 2,354 1,982 5,560 1,477 743 225 110 259 392 4,109 Surplus 25,915 943 7,761 2,354 1,982 5,560 1,477 743 225 110 259 392 4,109 Other capital 0 0 0 0 0 0 0 0 0 0 0 0 0 Total liabilities and capital 2,863,264 68,436 1,586,914 95,413 82,349 201,320 175,254 156,923 43,521 24,728 55,180 110,866 262,362 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, August 24, 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 Aug 24, 2011 Federal Reserve notes outstanding 1,156,484 Less: Notes held by F.R. Banks not subject to collateralization 164,873 Federal Reserve notes to be collateralized 991,611 Collateral held against Federal Reserve notes 991,611 Gold certificate account 11,037 Special drawing rights certificate account 5,200 U.S. Treasury, agency debt, and mortgage-backed securities pledged (1,2) 975,374 Other assets pledged 0 Memo: Total U.S. Treasury, agency debt, and mortgage-backed securities (1,2) 2,650,561 Less: Face value of securities under reverse repurchase agreements 86,607 U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 2,563,954 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.