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Release Date:   April 5, 2012
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FEDERAL RESERVE statistical release

H.4.1

Factors Affecting Reserve Balances of Depository Institutions and
Condition Statement of Federal Reserve Banks

April 5, 2012
1. Factors Affecting Reserve Balances of Depository Institutions
Millions of dollars
Reserve Bank credit, related items, and
reserve balances of depository institutions at
Federal Reserve Banks
Averages of daily figures Wednesday
Apr 4, 2012
Week ended
Apr 4, 2012
Change from week ended
Mar 28, 2012 Apr 6, 2011
Reserve Bank credit 2,843,194 - 29,520 + 223,564 2,848,006
    Securities held outright 1 2,598,062 - 11,795 + 182,754 2,602,642
        U.S. Treasury securities 1,664,793 - 3,148 + 319,135 1,669,371
            Bills 2 18,423 0 0 18,423
            Notes and bonds, nominal 2 1,568,278 - 3,444 + 307,384 1,571,487
            Notes and bonds, inflation-indexed 2 68,860 + 193 + 9,374 70,014
            Inflation compensation 3 9,232 + 103 + 2,376 9,447
        Federal agency debt securities 2 96,478 - 359 - 36,017 96,478
        Mortgage-backed securities 4 836,792 - 8,287 - 100,363 836,793
    Repurchase agreements 5 0 0 0 0
    Loans 7,070 - 7 - 11,959 7,072
        Primary credit 10 + 6 - 20 12
        Secondary credit 0 0 0 0
        Seasonal credit 4 - 1 + 1 7
        Term Asset-Backed Securities Loan Facility 6 7,056 - 11 - 11,940 7,054
        Other credit extensions 0 0 0 0
    Net portfolio holdings of Maiden Lane LLC 7 5,441 + 19 - 20,144 5,440
    Net portfolio holdings of Maiden Lane II LLC 8 19 0 - 15,848 19
    Net portfolio holdings of Maiden Lane III LLC 9 17,466 + 16 - 5,473 17,507
    Net portfolio holdings of TALF LLC 10 831 0 + 113 831
    Float -1,034 - 199 + 318 -1,875
    Central bank liquidity swaps 11 46,482 - 18,587 + 46,482 46,482
    Other Federal Reserve assets 12 168,858 + 1,033 + 47,321 169,888
Gold stock 11,041 0 0 11,041
Special drawing rights certificate account 5,200 0 0 5,200
Treasury currency outstanding 13 44,359 + 14 + 569 44,359
 
Total factors supplying reserve funds 2,903,794 - 29,507 + 224,133 2,908,607
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
reserve balances of depository institutions at
Federal Reserve Banks
Averages of daily figures Wednesday
Apr 4, 2012
Week ended
Apr 4, 2012
Change from week ended
Mar 28, 2012 Apr 6, 2011
Currency in circulation 13 1,099,447 + 2,913 + 93,137 1,101,448
Reverse repurchase agreements 14 89,522 + 4,438 + 28,473 83,351
    Foreign official and international accounts 89,522 + 4,438 + 29,995 83,351
    Others 0 0 - 1,521 0
Treasury cash holdings 149 - 10 - 61 143
Deposits with F.R. Banks, other than reserve balances 91,965 - 58,925 + 24,665 90,592
    Term deposits held by depository institutions 3,057 0 + 3,057 3,057
    U.S. Treasury, General Account 54,899 - 29,144 + 97 56,774
    U.S. Treasury, Supplementary Financing Account 0 0 - 5,000 0
    Foreign official 127 - 10 - 8 127
    Service-related 1,937 0 - 574 1,937
        Required clearing balances 1,937 0 - 574 1,937
        Adjustments to compensate for float 0 0 0 0
    Other 31,945 - 29,772 + 27,092 28,697
Other liabilities and capital 15 73,872 - 242 + 1,470 72,635
 
Total factors, other than reserve balances,
    absorbing reserve funds
1,354,955 - 51,825 + 147,684 1,348,169
 
Reserve balances with Federal Reserve Banks 1,548,839 + 22,318 + 76,449 1,560,438
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. 
Includes credit extended by the Federal Reserve Bank of New York to eligible borrowers through the Term Asset-Backed Securities Loan Facility.
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. 
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, and the fair value adjustment to credit extended by the FRBNY to eligible borrowers through the Term Asset-Backed Securities Loan Facility.
13. 
Estimated.
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. 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
Memorandum item Averages of daily figures Wednesday
Apr 4, 2012
Week ended
Apr 4, 2012
Change from week ended
Mar 28, 2012 Apr 6, 2011
Marketable securities held in custody for foreign
    official and international accounts 1
3,487,476 + 13,328 + 80,087 3,489,654
    U.S. Treasury securities 2,753,838 + 12,968 + 111,066 2,756,983
    Federal agency securities 2 733,638 + 360 - 30,979 732,671
Securities lent to dealers 20,605 + 826 - 7,560 18,845
    Overnight facility 3 20,605 + 826 - 7,560 18,845
        U.S. Treasury securities 19,817 + 755 - 7,174 18,019
        Federal agency debt securities 788 + 71 - 386 826
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, April 4, 2012
Millions of dollars
Remaining maturity Within 15
days
16 days to
90 days
91 days to
1 year
Over 1 year
to 5 years
Over 5 years
to 10 years
Over 10
years
All
Loans 1 23 566 4,450 2,034 0 ... 7,072
U.S. Treasury securities 2  
    Holdings 28,011 15,684 54,185 575,290 711,791 284,409 1,669,371
    Weekly changes + 13,523 - 14,862 + 2,086 + 336 + 83 + 3,292 + 4,460
Federal agency debt securities 3  
    Holdings 1,278 3,716 19,061 59,094 10,982 2,347 96,478
    Weekly changes + 1,278 - 1,278 0 0 0 0 0
Mortgage-backed securities 4  
    Holdings 0 0 2 9 103 836,679 836,793
    Weekly changes 0 0 + 1 - 1 + 6 + 1 + 7
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 15,437 31,045 0 0 0 0 46,482
   
Reverse repurchase agreements 6 83,351 0 ... ... ... ... 83,351
Term deposits 3,057 0 0 ... ... ... 3,057
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
Millions of dollars
Account name Wednesday
Apr 4, 2012
Mortgage-backed securities held outright 1 836,793
 
Commitments to buy mortgage-backed securities 2 50,718
Commitments to sell mortgage-backed securities 2 0
 
Cash and cash equivalents 3 10
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
Account name Wednesday
Apr 4, 2012
Net portfolio holdings of Maiden Lane LLC 1 5,440
 
Outstanding principal amount of loan extended by the Federal Reserve Bank of New York 2 2,150
Accrued interest payable to the Federal Reserve Bank of New York 2 763
Outstanding principal amount and accrued interest on loan payable to JPMorgan Chase & Co. 3 1,404
1. 
Fair value. Fair value reflects an estimate of the price that would be received upon selling an asset if the transaction were to be conducted in an orderly market on the measurement date. Revalued quarterly. This table reflects valuations as of December 31, 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
Account name Wednesday
Apr 4, 2012
Net portfolio holdings of Maiden Lane II LLC 1 19
 
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
Deferred payment and accrued interest payable to subsidiaries of American International Group, Inc. 3 0
1. 
Fair value. Fair value reflects an estimate of the price that would be received upon selling an asset if the transaction were to be conducted in an orderly market on the measurement date. Revalued quarterly. This table reflects valuations as of December 31, 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
Account name Wednesday
Apr 4, 2012
Net portfolio holdings of Maiden Lane III LLC 1 17,507
 
Outstanding principal amount of loan extended by the Federal Reserve Bank of New York 2 8,271
Accrued interest payable to the Federal Reserve Bank of New York 2 723
Outstanding principal amount and accrued interest on loan payable to American International Group, Inc. 3 5,589
1. 
Fair value. Fair value reflects an estimate of the price that would be received upon selling an asset if the transaction were to be conducted in an orderly market on the measurement date. Revalued quarterly. This table reflects valuations as of December 31, 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
Account name Wednesday
Apr 4, 2012
Asset-backed securities holdings 1 0
Other investments, net 831
Net portfolio holdings of TALF LLC 831
 
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 3 110
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
Assets, liabilities, and capital Eliminations from
consolidation
Wednesday
Apr 4, 2012
Change since
Wednesday
Mar 28, 2012
Wednesday
Apr 6, 2011
Assets  
    Gold certificate account   11,037 0 0
    Special drawing rights certificate account   5,200 0 0
    Coin   2,293 - 26 + 114
    Securities, repurchase agreements, and loans   2,609,715 + 4,479 + 163,364
        Securities held outright 1   2,602,642 + 4,467 + 174,785
            U.S. Treasury securities   1,669,371 + 4,460 + 311,164
                Bills 2   18,423 0 0
                Notes and bonds, nominal 2   1,571,487 + 2,823 + 298,072
                Notes and bonds, inflation-indexed 2   70,014 + 1,347 + 10,528
                Inflation compensation 3   9,447 + 289 + 2,563
            Federal agency debt securities 2   96,478 0 - 36,017
            Mortgage-backed securities 4   836,793 + 7 - 100,362
        Repurchase agreements 5   0 0 0
        Loans   7,072 + 11 - 11,422
    Net portfolio holdings of Maiden Lane LLC 6   5,440 + 23 - 20,180
    Net portfolio holdings of Maiden Lane II LLC 7   19 0 - 15,795
    Net portfolio holdings of Maiden Lane III LLC 8   17,507 + 52 - 5,501
    Net portfolio holdings of TALF LLC 9   831 0 + 113
    Items in process of collection (90) -587 - 623 - 791
    Bank premises   2,352 - 31 + 139
    Central bank liquidity swaps 10   46,482 - 18,586 + 46,482
    Other assets 11   167,513 + 2,052 + 47,045
 
Total assets (90) 2,867,800 - 12,663 + 214,988
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
Assets, liabilities, and capital Eliminations from
consolidation
Wednesday
Apr 4, 2012
Change since
Wednesday
Mar 28, 2012
Wednesday
Apr 6, 2011
Liabilities  
    Federal Reserve notes, net of F.R. Bank holdings   1,059,520 + 3,102 + 91,472
    Reverse repurchase agreements 12   83,351 + 124 + 28,729
    Deposits (0) 1,651,007 - 15,592 + 94,947
        Term deposits held by depository institutions   3,057 0 + 3,057
        Other deposits held by depository institutions   1,562,352 - 2,630 + 57,214
        U.S. Treasury, General Account   56,774 - 11,678 + 15,812
        U.S. Treasury, Supplementary Financing Account   0 0 - 5,000
        Foreign official   127 0 - 36
        Other (0) 28,697 - 1,284 + 23,900
    Deferred availability cash items (90) 1,287 + 304 - 599
    Other liabilities and accrued dividends 13   18,201 - 601 - 1,409
 
Total liabilities (90) 2,813,366 - 12,663 + 213,141
 
Capital accounts  
    Capital paid in   27,217 0 + 924
    Surplus   27,217 0 + 924
    Other capital accounts   0 0 0
 
Total capital   54,434 0 + 1,847
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. 
Refer to table 4 and the note on consolidation accompanying table 9.
7. 
Refer to table 5 and the note on consolidation accompanying table 9.
8. 
Refer to table 6 and the note on consolidation accompanying table 9.
9. 
Refer to table 7 and the note on consolidation accompanying table 9.
10. 
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.
11. 
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.
12. 
Cash value of agreements, which are collateralized by U.S. Treasury securities, federal agency debt securities, and mortgage-backed securities.
13. 
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.


9. Statement of Condition of Each Federal Reserve Bank, April 4, 2012
Millions of dollars
Assets, liabilities, and capital Total Boston New York Philadelphia Cleveland Richmond Atlanta Chicago St. Louis Minneapolis Kansas
City
Dallas San
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 2,293 55 112 157 163 412 197 325 34 60 171 226 381
    Securities, repurchase agreements,
        and loans
2,609,715 63,992 1,217,394 89,156 70,303 300,579 193,487 154,561 49,260 40,011 69,232 102,936 258,803
        Securities held outright 1 2,602,642 63,990 1,210,340 89,156 70,303 300,579 193,487 154,559 49,260 39,999 69,232 102,935 258,803
            U.S. Treasury securities 1,669,371 41,044 776,329 57,186 45,093 192,795 124,105 99,136 31,596 25,656 44,406 66,024 166,000
                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 1,650,948 40,591 767,762 56,555 44,596 190,668 122,736 98,042 31,248 25,373 43,916 65,295 164,168
            Federal agency debt securities 2 96,478 2,372 44,866 3,305 2,606 11,142 7,172 5,729 1,826 1,483 2,566 3,816 9,594
            Mortgage-backed securities 4 836,793 20,574 389,145 28,665 22,604 96,641 62,209 49,693 15,838 12,860 22,259 33,095 83,209
        Repurchase agreements 5 0 0 0 0 0 0 0 0 0 0 0 0 0
        Loans 7,072 2 7,054 0 0 0 0 2 0 13 0 2 0
    Net portfolio holdings of Maiden
        Lane LLC 6
5,440 0 5,440 0 0 0 0 0 0 0 0 0 0
    Net portfolio holdings of Maiden
        Lane II LLC 7
19 0 19 0 0 0 0 0 0 0 0 0 0
    Net portfolio holdings of Maiden
        Lane III LLC 8
17,507 0 17,507 0 0 0 0 0 0 0 0 0 0
    Net portfolio holdings of TALF LLC 9 831 0 831 0 0 0 0 0 0 0 0 0 0
    Items in process of collection -497 10 3 80 34 4 -712 18 5 8 4 11 38
    Bank premises 2,352 122 445 66 124 231 212 203 133 105 257 243 211
    Central bank liquidity swaps 10 46,482 1,629 14,994 4,032 3,436 9,615 2,658 1,240 380 190 462 745 7,101
    Other assets 11 167,513 4,412 74,017 7,080 5,723 21,759 12,053 9,108 2,931 2,333 4,046 6,056 17,995
    Interdistrict settlement account 0 - 935 + 169,270 + 9,156 - 5,489 - 91,805 - 33,032 - 4,303 - 5,292 - 13,471 - 12,913 + 3,570 - 14,754
 
Total assets 2,867,891 69,871 1,505,715 110,370 74,981 242,077 176,910 162,430 47,920 29,523 61,730 114,797 271,566
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, April 4, 2012 (continued)
Millions of dollars
Assets, liabilities, and capital Total Boston New York Philadelphia Cleveland Richmond Atlanta Chicago St. Louis Minneapolis Kansas
City
Dallas San
Francisco
Liabilities  
    Federal Reserve notes outstanding 1,235,983 44,515 435,826 48,242 59,868 102,595 143,525 94,378 33,266 22,633 37,602 78,635 134,898
        Less: Notes held by F.R. Banks 176,463 4,803 63,334 5,896 7,803 10,960 26,008 11,751 4,215 4,219 3,464 11,114 22,896
            Federal Reserve notes, net 1,059,520 39,712 372,492 42,346 52,065 91,635 117,518 82,627 29,051 18,413 34,137 67,521 112,002
    Reverse repurchase agreements 12 83,351 2,049 38,762 2,855 2,251 9,626 6,197 4,950 1,578 1,281 2,217 3,297 8,288
    Deposits 1,651,007 25,195 1,063,374 60,330 16,032 128,954 49,225 72,775 16,613 9,240 24,565 42,664 142,041
        Term deposits held by depository
            institutions
3,057 15 2,094 451 0 43 5 8 0 76 0 5 361
        Other deposits held by depository
            institutions
1,562,352 25,174 976,023 59,859 16,029 128,649 49,218 72,733 16,613 9,164 24,564 42,658 141,669
        U.S. Treasury, General Account 56,774 0 56,774 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 127 1 100 3 3 8 2 1 0 0 0 1 6
        Other 28,697 4 28,384 17 0 253 0 32 0 0 1 1 6
    Deferred availability cash items 1,377 48 0 133 127 27 304 33 32 189 43 113 329
    Interest on Federal Reserve notes due
        to U.S. Treasury 13
1,235 11 649 16 10 106 114 88 26 26 39 57 92
    Other liabilities and accrued
        dividends 14
16,966 211 13,085 284 265 813 497 416 179 154 190 285 587
 
Total liabilities 2,813,456 67,226 1,488,361 105,964 70,751 231,161 173,854 160,890 47,479 29,304 61,191 113,936 263,340
 
Capital  
    Capital paid in 27,217 1,323 8,677 2,203 2,115 5,458 1,528 770 220 110 269 430 4,113
    Surplus 27,217 1,323 8,677 2,203 2,115 5,458 1,528 770 220 110 269 430 4,113
    Other capital 0 0 0 0 0 0 0 0 0 0 0 0 0
 
Total liabilities and capital 2,867,891 69,871 1,505,715 110,370 74,981 242,077 176,910 162,430 47,920 29,523 61,730 114,797 271,566
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, April 4, 2012 (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. 
Refer to table 4 and the note on consolidation below.
7. 
Refer to table 5 and the note on consolidation below.
8. 
Refer to table 6 and the note on consolidation below.
9. 
Refer to table 7 and the note on consolidation below.
10. 
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.
11. 
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.
12. 
Cash value of agreements, which are collateralized by U.S. Treasury securities, federal agency debt securities, and mortgage-backed securities.
13. 
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.
14. 
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.


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
Federal Reserve notes and collateral Wednesday
Apr 4, 2012
Federal Reserve notes outstanding 1,235,983
    Less: Notes held by F.R. Banks not subject to collateralization 176,463
        Federal Reserve notes to be collateralized 1,059,520
Collateral held against Federal Reserve notes 1,059,520
    Gold certificate account 11,037
    Special drawing rights certificate account 5,200
    U.S. Treasury, agency debt, and mortgage-backed securities pledged 1,2 1,043,283
    Other assets pledged 0
Memo:  
Total U.S. Treasury, agency debt, and mortgage-backed securities 1,2 2,602,642
    Less: Face value of securities under reverse repurchase agreements 73,421
        U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 2,529,221
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.

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