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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

December 27, 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
Dec 26, 2012

Week ended
Dec 26, 2012

Change from week ended

Dec 19, 2012

Dec 28, 2011

Reserve Bank credit

2,905,205

+    5,495

−   14,840

2,889,644

Securities held outright1

2,674,860

+    5,914

+   51,064

2,660,271

U.S. Treasury securities

1,656,666

−    3,033

−   14,778

1,656,930

Bills2

         0

         0

−   18,423

         0

Notes and bonds, nominal2

1,570,986

−    3,025

−    3,939

1,571,252

Notes and bonds, inflation-indexed2

    74,740

         0

+    6,272

    74,740

Inflation compensation3

    10,941

−        7

+    1,313

    10,938

Federal agency debt securities2

    77,140

−    2,143

−   27,456

    76,783

Mortgage-backed securities4

   941,054

+   11,090

+   93,298

   926,558

Repurchase agreements5

         0

         0

         0

         0

Loans

       640

−      199

−    8,468

       613

Primary credit

        17

+        5

+        5

        26

Secondary credit

         0

         0

−        1

         0

Seasonal credit

        30

+        7

+        4

        30

Term Asset-Backed Securities Loan Facility6

       593

−      210

−    8,476

       558

Other credit extensions

         0

         0

         0

         0

Net portfolio holdings of Maiden Lane LLC7

     1,428

−        5

−    5,806

     1,412

Net portfolio holdings of Maiden Lane II LLC8

        61

         0

−    9,188

        61

Net portfolio holdings of Maiden Lane III LLC9

        22

         0

−   17,712

        22

Net portfolio holdings of TALF LLC10

       856

         0

+       45

       856

Float

      -644

+      120

+       10

      -683

Central bank liquidity swaps11

     8,889

−    2,660

−   90,934

     8,889

Other Federal Reserve assets12

   219,092

+    2,324

+   66,147

   218,201

Gold stock

    11,041

         0

         0

    11,041

Special drawing rights certificate account

     5,200

         0

         0

     5,200

Treasury currency outstanding13

    44,803

+       14

+      610

    44,803

Total factors supplying reserve funds

2,966,249

+    5,509

−   14,231

2,950,688

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
Dec 26, 2012

Week ended
Dec 26, 2012

Change from week ended

Dec 19, 2012

Dec 28, 2011

Currency in circulation13

1,163,598

+    6,846

+   90,009

1,167,122

Reverse repurchase agreements14

   101,360

−    2,822

+   10,517

    99,853

Foreign official and international accounts

   101,360

−    2,822

+   10,517

    99,853

Others

         0

         0

         0

         0

Treasury cash holdings

       148

+        4

+       27

       150

Deposits with F.R. Banks, other than reserve balances

   128,932

+   15,031

−   79,871

    84,570

Term deposits held by depository institutions

         0

         0

         0

         0

U.S. Treasury, General Account

    55,563

+      577

−   43,089

    55,679

Foreign official

     6,163

+      156

+    5,985

     6,163

Service-related

         0

         0

−    2,488

         0

Required clearing balances

         0

         0

−    2,488

         0

Adjustments to compensate for float

         0

         0

         0

         0

Other

    67,206

+   14,298

−   40,278

    22,729

Other liabilities and capital15

    68,730

+      188

−    4,259

    66,343

Total factors, other than reserve balances,
absorbing reserve funds

1,462,767

+   19,246

+   16,423

1,418,037

Reserve balances with Federal Reserve Banks

1,503,482

−   13,738

−   30,653

1,532,651

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
Dec 26, 2012

Week ended
Dec 26, 2012

Change from week ended

Dec 19, 2012

Dec 28, 2011

Securities held in custody for foreign official and international accounts

3,236,361

+    6,082

+  186,777

3,238,440

Marketable U.S. Treasury securities1

2,887,591

+    9,230

+  278,585

2,891,366

Federal agency debt and mortgage-backed securities2

   312,758

−    3,251

−   93,034

   311,053

Other securities3

    36,011

+      102

+    1,226

    36,020

Securities lent to dealers

     8,671

+    2,790

−    7,573

     9,346

Overnight facility4

     8,671

+    2,790

−    7,573

     9,346

U.S. Treasury securities

     7,957

+    2,849

−    7,036

     8,629

Federal agency debt securities

       714

−       59

−      537

       717

Note: Components may not sum to totals because of rounding.

1.

Includes securities and U.S. Treasury STRIPS at face value, and inflation compensation on TIPS. Does not include securities pledged as collateral to foreign official and international account holders against reverse repurchase agreements with the Federal Reserve presented in tables 1, 8, and 9.

2.

Face value of federal agency securities and current face value of mortgage-backed securities, which is the remaining principal balance of the underlying mortgages.

3.

Includes non-marketable U.S. Treasury securities, supranationals, corporate bonds, asset-backed securities, and commercial paper at face value.

4.

Face value. Fully collateralized by U.S. Treasury securities.


2. Maturity Distribution of Securities, Loans, and Selected Other Assets and Liabilities, December 26, 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 year
to 10 years

Over 10
years

All

Loans1

        56

        51

         0

       506

         0

...

       613

U.S. Treasury securities2

Holdings

       382

         4

        16

   365,270

   866,016

   425,241

1,656,930

Weekly changes

         0

         0

         0

−    7,422

−        2

+    5,502

−    1,921

Federal agency debt securities3

Holdings

       422

     3,938

    15,202

    52,830

     2,044

     2,347

    76,783

Weekly changes

−    2,078

−       13

−      409

         0

         0

         0

−    2,500

Mortgage-backed securities4

Holdings

         0

         0

         2

         1

     2,358

   924,197

   926,558

Weekly changes

         0

         0

−        1

         0

+       78

−    6,910

−    6,833

Asset-backed securities held by
TALF LLC5

         0

         0

         0

         0

         0

         0

         0

Repurchase agreements6

         0

         0

...

...

...

...

         0

Central bank liquidity swaps7

     1,742

     7,147

         0

         0

         0

         0

     8,889

Reverse repurchase agreements6

    99,853

         0

...

...

...

...

    99,853

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

Millions of dollars

Account name

Wednesday

Dec 26, 2012

Mortgage-backed securities held outright1

   926,558

Commitments to buy mortgage-backed securities2

   106,935

Commitments to sell mortgage-backed securities2

         0

Cash and cash equivalents3

       125

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

Dec 26, 2012

Net portfolio holdings of Maiden Lane LLC1

     1,412

Outstanding principal amount of loan extended by the Federal Reserve Bank of New York2

         0

Accrued interest payable to the Federal Reserve Bank of New York2

         0

Outstanding principal amount and accrued interest on loan payable to JPMorgan Chase & Co.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 September 30, 2012. 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

Dec 26, 2012

Net portfolio holdings of Maiden Lane II LLC1

        61

Outstanding principal amount of loan extended by the Federal Reserve Bank of New York2

         0

Accrued interest payable to the Federal Reserve Bank of New York2

         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 September 30, 2012. 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

Dec 26, 2012

Net portfolio holdings of Maiden Lane III LLC1

        22

Outstanding principal amount of loan extended by the Federal Reserve Bank of New York2

         0

Accrued interest payable to the Federal Reserve Bank of New York2

         0

Outstanding principal amount and accrued interest on loan payable to 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 September 30, 2012. 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

Dec 26, 2012

Asset-backed securities holdings1

         0

Other investments, net

       856

Net portfolio holdings of TALF LLC

       856

Outstanding principal amount of loan extended by the Federal Reserve Bank of New York2

         0

Accrued interest payable to the Federal Reserve Bank of New York2

         0

Funding provided by U.S. Treasury to TALF LLC, including accrued interest payable3

       113

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 $1.4 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
Dec 26, 2012

Change since

Wednesday

Wednesday

Dec 19, 2012

Dec 28, 2011

Assets

Gold certificate account

    11,037

         0

         0

Special drawing rights certificate account

     5,200

         0

         0

Coin

     2,114

−       12

−      192

Securities, repurchase agreements, and loans

2,660,884

−   11,505

+   38,420

Securities held outright1

2,660,271

−   11,254

+   46,889

U.S. Treasury securities

1,656,930

−    1,921

−   15,162

Bills2

         0

         0

−   18,423

Notes and bonds, nominal2

1,571,252

−    1,914

−    4,332

Notes and bonds, inflation-indexed2

    74,740

         0

+    6,272

Inflation compensation3

    10,938

−        7

+    1,321

Federal agency debt securities2

    76,783

−    2,500

−   27,211

Mortgage-backed securities4

   926,558

−    6,833

+   89,263

Repurchase agreements5

         0

         0

         0

Loans

       613

−      251

−    8,469

Net portfolio holdings of Maiden Lane LLC6

     1,412

−       19

−    5,816

Net portfolio holdings of Maiden Lane II LLC7

        61

         0

−    9,220

Net portfolio holdings of Maiden Lane III LLC8

        22

         0

−   17,717

Net portfolio holdings of TALF LLC9

       856

         0

+       45

Items in process of collection

(0)

       146

+       13

−      212

Bank premises

     2,339

+        2

+      151

Central bank liquidity swaps10

     8,889

−    2,660

−   90,934

Other assets11

   215,898

+    1,262

+   65,847

Total assets

(0)

2,908,859

−   12,917

−   19,626

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
Dec 26, 2012

Change since

Wednesday

Wednesday

Dec 19, 2012

Dec 28, 2011

Liabilities

Federal Reserve notes, net of F.R. Bank holdings

1,124,578

+    7,115

+   90,058

Reverse repurchase agreements12

    99,853

−    1,111

+   11,179

Deposits

(0)

1,617,257

−   17,428

−  114,671

Term deposits held by depository institutions

         0

         0

         0

Other deposits held by depository institutions

1,532,687

+   49,989

−   36,580

U.S. Treasury, General Account

    55,679

−   19,338

−   35,739

Foreign official

     6,163

+      163

+    5,785

Other

(0)

    22,729

−   48,242

−   48,137

Deferred availability cash items

(0)

       829

−      161

−      665

Other liabilities and accrued dividends13

    11,615

−    1,330

−    6,456

Total liabilities

(0)

2,854,131

−   12,917

−   20,555

Capital accounts

Capital paid in

    27,364

         0

+      464

Surplus

    27,364

         0

+      464

Other capital accounts

         0

         0

         0

Total capital

    54,728

         0

+      929

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, December 26, 2012

Millions of dollars

Assets, liabilities, and capital

Total

Boston

New York

Philadelphia

Cleveland

Richmond

Atlanta

Chicago

St. Louis

Minneapolis

Kansas

Dallas

San

City

Francisco

Assets

Gold certificate account

    11,037

       408

     3,824

       437

       515

       890

     1,337

       839

       313

       192

       315

       725

     1,242

Special drawing rights certificate acct.

     5,200

       196

     1,818

       210

       237

       412

       654

       424

       150

        90

       153

       282

       574

Coin

     2,114

        38

        93

       140

       144

       376

       208

       310

        36

        52

       165

       195

       356

Securities, repurchase agreements,
and loans

2,660,884

    64,614

1,492,050

    87,943

    67,636

   189,350

   160,402

   147,583

    41,591

    24,208

    53,450

   103,365

   228,691

Securities held outright1

2,660,271

    64,613

1,491,493

    87,943

    67,636

   189,335

   160,396

   147,580

    41,591

    24,184

    53,446

   103,365

   228,689

U.S. Treasury securities

1,656,930

    40,244

   928,965

    54,774

    42,126

   117,926

    99,901

    91,919

    25,905

    15,063

    33,288

    64,380

   142,437

Bills2

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Notes and bonds3

1,656,930

    40,244

   928,965

    54,774

    42,126

   117,926

    99,901

    91,919

    25,905

    15,063

    33,288

    64,380

   142,437

Federal agency debt securities2

    76,783

     1,865

    43,049

     2,538

     1,952

     5,465

     4,629

     4,260

     1,200

       698

     1,543

     2,983

     6,601

Mortgage-backed securities4

   926,558

    22,504

   519,479

    30,630

    23,557

    65,944

    55,865

    51,401

    14,486

     8,423

    18,615

    36,002

    79,651

Repurchase agreements5

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Loans

       613

         2

       558

         0

         0

        15

         6

         3

         0

        23

         4

         0

         3

Net portfolio holdings of Maiden

Lane LLC6

     1,412

         0

     1,412

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Net portfolio holdings of Maiden

Lane II LLC7

        61

         0

        61

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Net portfolio holdings of Maiden

Lane III LLC8

        22

         0

        22

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Net portfolio holdings of TALF LLC9

       856

         0

       856

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Items in process of collection

       146

         0

         0

         1

        11

         0

       125

         0

         1

         8

         0

         0

         0

Bank premises

     2,339

       119

       450

        70

       115

       230

       215

       203

       130

       103

       253

       239

       209

Central bank liquidity swaps10

     8,889

       312

     2,867

       771

       657

     1,839

       508

       237

        73

        36

        88

       142

     1,358

Other assets11

   215,898

     5,542

   114,569

     8,521

     6,724

    18,914

    12,969

    11,277

     3,216

     1,888

     4,099

     7,959

    20,221

Interdistrict settlement account

         0

+   18,358

−   90,812

−   19,688

+    1,895

−   23,924

+   36,886

−    5,090

+      199

+    3,235

−    4,501

+    6,076

+   77,367

Total assets

2,908,859

    89,588

1,527,212

    78,406

    77,933

   188,087

   213,304

   155,784

    45,709

    29,811

    54,022

   118,985

   330,019

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, December 26, 2012 (continued)

Millions of dollars

Assets, liabilities, and capital

Total

Boston

New York

Philadelphia

Cleveland

Richmond

Atlanta

Chicago

St. Louis

Minneapolis

Kansas

Dallas

San

City

Francisco

Liabilities

Federal Reserve notes outstanding

1,355,835

    47,647

   477,817

    47,750

    60,723

   103,444

   175,867

    95,420

    37,354

    22,400

    36,481

    95,686

   155,246

Less: Notes held by F.R. Banks

   231,257

     6,291

    93,702

     4,594

     8,294

    11,841

    26,209

    12,727

     3,955

     3,189

     6,686

    28,209

    25,560

Federal Reserve notes, net

1,124,578

    41,356

   384,115

    43,156

    52,430

    91,603

   149,658

    82,692

    33,399

    19,211

    29,795

    67,477

   129,686

Reverse repurchase agreements12

    99,853

     2,425

    55,983

     3,301

     2,539

     7,107

     6,020

     5,539

     1,561

       908

     2,006

     3,880

     8,584

Deposits

1,617,257

    42,818

1,063,073

    27,326

    18,315

    76,934

    53,173

    65,411

    10,076

     9,181

    21,441

    46,337

   183,171

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

1,532,687

    42,813

   978,652

    27,310

    18,313

    76,852

    53,163

    65,391

    10,075

     9,181

    21,439

    46,334

   183,164

U.S. Treasury, General Account

    55,679

         0

    55,679

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Foreign official

     6,163

         1

     6,136

         3

         3

         8

         2

         1

         0

         0

         0

         1

         6

Other

    22,729

         4

    22,606

        13

         0

        74

         7

        19

         0

         0

         1

         3

         1

Deferred availability cash items

       829

         0

         0

         0

        25

         0

       690

         0

         0

       114

         0

         0

         0

Interest on Federal Reserve notes due
to U.S. Treasury13

     1,157

        24

       720

        25

        19

        50

        71

        70

        18

        11

        27

        48

        74

Other liabilities and accrued
dividends14

    10,458

       275

     5,830

       365

       337

       901

       575

       511

       199

       158

       200

       366

       742

Total liabilities

2,854,131

    86,898

1,509,721

    74,173

    73,664

   176,595

   210,187

   154,224

    45,253

    29,582

    53,468

   118,108

   322,257

Capital

Capital paid in

    27,364

     1,345

     8,745

     2,116

     2,134

     5,746

     1,558

       780

       228

       115

       277

       439

     3,881

Surplus

    27,364

     1,345

     8,745

     2,116

     2,134

     5,746

     1,558

       780

       228

       115

       277

       439

     3,881

Other capital

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Total liabilities and capital

2,908,859

    89,588

1,527,212

    78,406

    77,933

   188,087

   213,304

   155,784

    45,709

    29,811

    54,022

   118,985

   330,019

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, December 26, 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

Dec 26, 2012

Federal Reserve notes outstanding

1,355,835

Less: Notes held by F.R. Banks not subject to collateralization

   231,257

Federal Reserve notes to be collateralized

1,124,578

Collateral held against Federal Reserve notes

1,124,578

Gold certificate account

    11,037

Special drawing rights certificate account

     5,200

U.S. Treasury, agency debt, and mortgage-backed securities pledged1,2

1,108,341

Other assets pledged

         0

Memo:

Total U.S. Treasury, agency debt, and mortgage-backed securities1,2

2,660,271

Less: Face value of securities under reverse repurchase agreements

    85,531

U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged

2,574,740

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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