FEDERAL RESERVE statistical release H.4.1 Factors Affecting Reserve Balances of Depository Institutions and Condition Statement of Federal Reserve Banks March 19, 2009 1. Factors Affecting Reserve Balances of Depository Institutions Millions of dollars Reserve Bank credit, related items, and Averages of daily figures reserve balances of depository institutions at Week ended Change from week ended Wednesday Federal Reserve Banks Mar 18, 2009 Mar 11, 2009 Mar 19, 2008 Mar 18, 2009 Reserve Bank credit 2,041,409 + 163,743 +1,162,536 2,050,609 Securities held outright 746,647 + 162,583 + 69,753 759,465 U.S. Treasury securities (1) 474,688 + 42 - 202,206 474,704 Bills (2) 18,423 0 - 146,793 18,423 Notes and bonds, nominal (2) 412,914 0 - 55,667 412,914 Notes and bonds, inflation-indexed (2) 39,378 0 + 941 39,378 Inflation compensation (3) 3,974 + 42 - 686 3,990 Federal agency debt securities (2) 45,468 + 4,985 + 45,468 48,272 Mortgage-backed securities (4) 226,490 + 157,555 + 226,490 236,489 Repurchase agreements (5) 0 0 - 61,107 0 Term auction credit 468,589 - 24,556 + 388,589 468,589 Other loans 138,179 + 5,061 + 119,130 135,342 Primary credit 65,683 + 2,196 + 65,602 64,047 Secondary credit 11 + 11 + 11 1 Seasonal credit 3 + 1 - 4 3 Primary dealer and other broker-dealer credit (6) 19,675 - 58 + 6,242 20,075 Asset-backed Commercial Paper Money Market Mutual Fund Liquidity Facility 9,229 + 1,677 + 9,229 7,634 Credit extended to American International Group, Inc. (7) 43,579 + 1,235 + 43,579 43,581 Other credit extensions 0 0 - 5,529 0 Net portfolio holdings of Commercial Paper Funding Facility LLC (8) 241,030 + 372 + 241,030 240,713 Net portfolio holdings of LLCs funded through the Money Market Investor Funding Facility (9) 0 0 0 0 Net portfolio holdings of Maiden Lane LLC (10) 26,183 + 65 + 26,183 26,212 Net portfolio holdings of Maiden Lane II LLC (11) 18,429 + 3 + 18,429 18,439 Net portfolio holdings of Maiden Lane III LLC (12) 27,601 + 138 + 27,601 27,628 Float -2,226 + 244 - 659 -2,545 Central bank liquidity swaps (13) 329,586 + 15,717 + 329,586 329,012 Other Federal Reserve assets (14) 47,390 + 4,115 + 4,000 47,754 Gold stock 11,041 0 0 11,041 Special drawing rights certificate account 2,200 0 0 2,200 Treasury currency outstanding (15) 38,828 + 14 + 149 38,828 Total factors supplying reserve funds 2,093,478 + 163,757 +1,162,685 2,102,678 Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table. 1. Factors Affecting Reserve Balances of Depository Institutions (continued) Millions of dollars Reserve Bank credit, related items, and Averages of daily figures reserve balances of depository institutions at Week ended Change from week ended Wednesday Federal Reserve Banks Mar 18, 2009 Mar 11, 2009 Mar 19, 2008 Mar 18, 2009 Currency in circulation (15) 898,352 + 1,040 + 81,383 899,428 Reverse repurchase agreements (16) 65,580 - 2,145 + 24,870 65,027 Foreign official and international accounts 65,580 - 2,145 + 25,906 65,027 Dealers 0 0 - 1,036 0 Treasury cash holdings 305 + 9 + 32 310 Deposits with F.R. Banks, other than reserve balances 297,175 + 13,873 + 284,904 307,568 U.S. Treasury, general account 72,723 + 23,827 + 67,571 100,379 U.S. Treasury, supplementary financing account 199,937 - 8 + 199,937 199,937 Foreign official 2,103 + 562 + 2,000 2,490 Service-related 4,466 + 1 - 2,287 4,466 Required clearing balances 4,466 + 1 - 2,287 4,466 Adjustments to compensate for float 0 0 0 0 Other 17,946 - 10,509 + 17,682 295 Other liabilities and capital (17) 54,215 + 1,871 + 9,481 54,520 Total factors, other than reserve balances, absorbing reserve funds 1,315,628 + 14,649 + 400,671 1,326,853 Reserve balances with Federal Reserve Banks 777,850 + 149,107 + 762,014 775,825 Note: Components may not sum to totals because of rounding. 1. Includes securities lent to dealers under the overnight and term securities lending facilities; refer to table 1A. 2. Face value of the securities. 3. Compensation that adjusts for the effect of inflation on the original face value of inflation-indexed securities. 4. Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. Current face value of the securities, which is the remaining principal balance of the underlying mortgages. 5. Cash value of agreements. 6. Includes credit extended through the Primary Dealer Credit Facility and credit extended to certain other broker-dealers. 7. Excludes credit extended to consolidated LLCs. 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. Refer to table 3 and the note on consolidation accompanying table 9. 11. Refer to table 4 and the note on consolidation accompanying table 9. 12. Refer to table 5 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. 15. Estimated. 16. Cash value of agreements, which are collateralized by U.S. Treasury securities. 17. Includes the liabilities of Commercial Paper Funding Facility LLC, the LLCs funded through the Money Market Investor Funding Facility, Maiden Lane LLC, Maiden Lane II LLC, and Maiden Lane III 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 3 through table 7 and the note on consolidation accompanying table 9. Sources: Federal Reserve Banks and the U.S. Department of the Treasury. 1A. Memorandum Items Millions of dollars Averages of daily figures Memorandum item Week ended Change from week ended Wednesday Mar 18, 2009 Mar 11, 2009 Mar 19, 2008 Mar 18, 2009 Marketable securities held in custody for foreign official and international accounts (1) 2,590,195 - 1,160 + 421,697 2,593,836 U.S. Treasury securities 1,782,138 + 1,643 + 501,796 1,780,836 Federal agency securities (2) 808,058 - 2,802 - 80,098 813,000 Securities lent to dealers 109,753 - 2,580 + 97,525 109,384 Overnight facility (3) 3,633 - 401 - 8,595 3,264 Term facility (4,5) 106,120 - 2,179 + 106,120 106,120 Note: Components may not sum to totals because of rounding. 1. Face value of the securities. Includes U.S. Treasury STRIPS, other zero-coupon bonds, and mortgage-backed securities at face value. 2. Includes debt and mortgage-backed securities. 3. Fully collateralized by U.S. Treasury securities. 4. Fully collateralized by U.S. Treasury securities, federal agency securities, and other highly rated debt securities. 5. On March 18, 2009, option contracts on draws on the Term Securities Lending Facility totaling $ 35,000 million were outstanding. The exercise date for the options is March 26, 2009, and the draws have a term of March 27, 2009 through April 3, 2009. 2. Maturity Distribution of Term Auction Credit, Other Loans, and Securities, March 18, 2009 Millions of dollars Remaining maturity Within 15 16 days to 91 days to Over 1 year Over 5 years Over 10 All days 90 days 1 year to 5 years to 10 years years Term auction credit 102,954 365,635 --- --- --- --- 468,589 Other loans (1) 80,130 11,576 55 43,581 --- --- 135,342 U.S. Treasury securities (2) Holdings 17,130 27,381 60,924 168,678 100,928 99,663 474,704 Weekly changes + 5 - 438 + 191 - 258 + 330 + 214 + 43 Federal agency debt securities (3) Holdings 571 0 4,090 33,731 9,714 166 48,272 Weekly changes - 628 0 + 1,523 + 2,280 + 665 0 + 3,840 Mortgage-backed securities (4) Holdings 0 0 0 0 0 236,489 236,489 Weekly changes 0 0 0 0 0 + 167,531 + 167,531 Commercial paper held by Commercial Paper Funding Facility LLC (5) 12,194 227,213 0 --- --- --- 239,407 Money market instruments held by LLCs funded through the Money Market Investor Funding Facility (6) 0 0 0 --- --- --- 0 Repurchase agreements (7) 0 0 --- --- --- --- 0 Central bank liquidity swaps (8) 141,712 187,300 0 0 0 0 329,012 Reverse repurchase agreements (7) 65,027 0 --- --- --- --- 65,027 Note: Components may not sum to totals because of rounding. --- Not applicable. 1. Excludes the loans from the Federal Reserve Bank of New York (FRBNY) to Commercial Paper Funding Facility LLC, the LLCs funded through the Money Market Investor Funding Facility, Maiden Lane LLC, Maiden Lane II LLC, and Maiden Lane III LLC. The loans were eliminated when preparing the FRBNY's statement of condition consistent with consolidation under generally accepted accounting principles. 2. Face value. For inflation-indexed securities, includes the original face value and compensation that adjusts for the effect of inflation on the original face value of such securities. 3. Face value. 4. Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. Current face value of the securities, which is the remaining principal balance of the underlying mortgages. 5. Face value of commercial paper held by Commercial Paper Funding Facility LLC. 6. Face value of money market instruments held by LLCs funded through the Money Market Investor Funding Facility. 7. Cash value of agreements. 8. Dollar value of foreign currency held under these agreements valued at the exchange rate to be used when the foreign currency is returned to the foreign central bank. This exchange rate equals the market exchange rate used when the foreign currency was acquired from the foreign central bank. 3. Information on Principal Accounts of Maiden Lane LLC Millions of dollars Wednesday Account name Mar 18, 2009 Net portfolio holdings of Maiden Lane LLC (1) 26,212 Outstanding principal amount of loan extended by the Federal Reserve Bank of New York (2) 28,820 Accrued interest payable to the Federal Reserve Bank of New York (2) 298 Outstanding principal amount and accrued interest on loan payable to JPMorgan Chase & Co. (3) 1,200 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, 2008. 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. 4. Information on Principal Accounts of Maiden Lane II LLC Millions of dollars Wednesday Account name Mar 18, 2009 Net portfolio holdings of Maiden Lane II LLC (1) 18,439 Outstanding principal amount of loan extended by the Federal Reserve Bank of New York (2) 18,543 Accrued interest payable to the Federal Reserve Bank of New York (2) 86 Deferred payment and accrued interest payable to subsidiaries of American International Group, Inc. (3) 1,010 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, 2008. 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. 5. Information on Principal Accounts of Maiden Lane III LLC Millions of dollars Wednesday Account name Mar 18, 2009 Net portfolio holdings of Maiden Lane III LLC (1) 27,628 Outstanding principal amount of loan extended by the Federal Reserve Bank of New York (2) 24,036 Accrued interest payable to the Federal Reserve Bank of New York (2) 120 Outstanding principal amount and accrued interest on loan payable to American International Group, Inc. (3) 5,059 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, 2008. 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. 6. Information on Principal Accounts of Commercial Paper Funding Facility LLC Millions of dollars Wednesday Account name Mar 18, 2009 Commercial paper holdings, net (1) 238,190 Other investments, net 2,522 Net portfolio holdings of Commercial Paper Funding Facility LLC 240,713 Memorandum: Commercial paper holdings, face value 239,407 Outstanding principal amount of loan extended by the Federal Reserve Bank of New York (2) 238,101 Accrued interest payable to the Federal Reserve Bank of New York (2) 73 1. Book value, which includes amortized cost and related fees. 2. Book value. This amount was eliminated when preparing the Federal Reserve Bank of New York's statement of condition consistent with consolidation under generally accepted accounting principles. Refer to the note on consolidation accompanying table 9. Note: On October 27, 2008, the Federal Reserve Bank of New York began extending loans under the authority of section 13(3) of the Federal Reserve Act to Commercial Paper Funding Facility LLC. This LLC is a limited liability company formed to purchase three-month U.S. dollar-denominated commercial paper from eligible issuers and thereby foster liquidity in short-term funding markets and increase the availability of credit for businesses and households. 7. Information on Principal Accounts of LLCs Funded through the Money Market Investor Funding Facility Millions of dollars Wednesday Account name Mar 18, 2009 Money market instrument holdings, net (1) 0 Other investments, net 0 Net portfolio holdings of LLCs funded through the Money Market Investor Funding Facility 0 Memorandum: Money market instrument holdings, face value 0 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 Commercial paper issued by LLCs funded through the Money Market Investor Funding Facility, net of related discounts 0 1. Book value, which includes amortized cost. 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. Note: The Federal Reserve Board authorized the Federal Reserve Bank of New York to extend credit under the authority of section 13(3) of the Federal Reserve Act to a series of limited liability companies funded through the Money Market Investor Funding Facility (MMIFF). The MMIFF became operational on November 24, 2008. These limited liability companies were established to purchase short-term U.S. dollar-denominated certificates of deposit, bank notes, and outstanding asset-backed commercial paper from eligible issuers. Such purchases are designed to foster liquidity in short-term money markets. 8. Consolidated Statement of Condition of All Federal Reserve Banks Millions of dollars Eliminations Change since from Wednesday Wednesday Wednesday Assets, liabilities, and capital consolidation Mar 18, 2009 Mar 11, 2009 Mar 19, 2008 Assets Gold certificate account 11,037 0 0 Special drawing rights certificate account 2,200 0 0 Coin 1,827 - 8 + 511 Securities, repurchase agreements, term auction credit, and other loans 1,363,396 + 147,531 + 531,986 Securities held outright 759,465 + 171,414 + 98,981 U.S. Treasury securities (1) 474,704 + 43 - 185,780 Bills (2) 18,423 0 - 133,937 Notes and bonds, nominal (2) 412,914 0 - 52,096 Notes and bonds, inflation-indexed (2) 39,378 0 + 941 Inflation compensation (3) 3,990 + 43 - 688 Federal agency debt securities (2) 48,272 + 3,840 + 48,272 Mortgage-backed securities (4) 236,489 + 167,531 + 236,489 Repurchase agreements (5) 0 0 - 62,000 Term auction credit 468,589 - 24,556 + 388,589 Other loans 135,342 + 673 + 106,417 Net portfolio holdings of Commercial Paper Funding Facility LLC (6) 240,713 - 145 + 240,713 Net portfolio holdings of LLCs funded through the Money Market Investor Funding Facility (7) 0 0 0 Net portfolio holdings of Maiden Lane LLC (8) 26,212 + 34 + 26,212 Net portfolio holdings of Maiden Lane II LLC (9) 18,439 + 12 + 18,439 Net portfolio holdings of Maiden Lane III LLC (10) 27,628 + 31 + 27,628 Items in process of collection (330) 388 - 216 - 1,098 Bank premises 2,187 + 1 + 46 Central bank liquidity swaps (11) 329,012 + 16,551 + 329,012 Other assets (12) 45,582 + 3,844 + 4,424 Total assets (330) 2,068,620 + 167,634 +1,177,873 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 Change since from Wednesday Wednesday Wednesday Assets, liabilities, and capital consolidation Mar 18, 2009 Mar 11, 2009 Mar 19, 2008 Liabilities Federal Reserve notes, net of F.R. Bank holdings 862,732 + 467 + 81,531 Reverse repurchase agreements (13) 65,027 - 1,358 + 18,884 Deposits (0) 1,083,408 + 167,824 +1,067,483 Depository institutions 780,306 + 147,816 + 770,131 U.S. Treasury, general account 100,379 + 65,948 + 95,015 U.S. Treasury, supplementary financing account 199,937 - 8 + 199,937 Foreign official 2,490 + 697 + 2,391 Other (0) 295 - 46,631 + 7 Deferred availability cash items (330) 2,933 - 787 - 332 Other liabilities and accrued dividends (14) 9,405 + 281 + 5,328 Total liabilities (330) 2,023,505 + 166,427 +1,172,894 Capital accounts Capital paid in 22,533 + 173 + 3,005 Surplus 21,140 + 193 + 2,682 Other capital accounts 1,443 + 842 - 707 Total capital 45,115 + 1,207 + 4,979 Note: Components may not sum to totals because of rounding. 1. Includes securities lent to dealers under the overnight and term securities lending facilities; refer to table 1A. 2. Face value of the securities. 3. Compensation that adjusts for the effect of inflation on the original face value of inflation-indexed securities. 4. Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. Current face value of the securities, which is the remaining principal balance of the underlying mortgages. 5. Cash value of agreements, which are collateralized by U.S. Treasury and federal agency securities. 6. Refer to table 6 and the note on consolidation accompanying table 9. 7. Refer to table 7 and the note on consolidation accompanying table 9. 8. Refer to table 3 and the note on consolidation accompanying table 9. 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. Dollar value of foreign currency held under these agreements valued at the exchange rate to be used when the foreign currency is returned to the foreign central bank. This exchange rate equals the market exchange rate used when the foreign currency was acquired from the foreign central bank. 12. Includes other assets denominated in foreign currencies, which are revalued daily at market exchange rates. 13. Cash value of agreements, which are collateralized by U.S. Treasury securities. 14. Includes the liabilities of Commercial Paper Funding Facility LLC, the LLCs funded through the Money Market Investor Funding Facility, Maiden Lane LLC, Maiden Lane II LLC, and Maiden Lane III 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 3 through table 7 and the note on consolidation accompanying table 9. 9. Statement of Condition of Each Federal Reserve Bank, March 18, 2009 Millions of dollars Kansas San Assets, liabilities, and capital Total Boston New York Philadelphia Cleveland Richmond Atlanta Chicago St. Louis Minneapolis City Dallas Francisco Assets Gold certificate account 11,037 424 3,935 453 423 891 1,221 913 344 199 349 636 1,249 Special drawing rights certificate acct. 2,200 115 874 83 104 147 166 212 71 30 66 98 234 Coin 1,827 63 80 157 149 251 216 218 44 61 125 180 283 Securities, repurchase agreements, term auction credit, and other loans 1,363,396 59,740 623,869 76,543 40,718 153,342 88,528 75,414 31,002 20,427 30,339 37,952 125,521 Securities held outright 759,465 31,855 270,213 33,159 28,799 68,867 75,565 67,030 26,244 14,338 27,886 31,503 84,005 U.S. Treasury securities (1) 474,704 19,911 168,897 20,726 18,001 43,045 47,232 41,897 16,404 8,962 17,430 19,691 52,507 Bills (2) 18,423 773 6,555 804 699 1,671 1,833 1,626 637 348 676 764 2,038 Notes and bonds (3) 456,281 19,138 162,342 19,922 17,302 41,375 45,399 40,271 15,767 8,614 16,754 18,927 50,470 Federal agency debt securities (2) 48,272 2,025 17,175 2,108 1,830 4,377 4,803 4,260 1,668 911 1,772 2,002 5,339 Mortgage-backed securities (4) 236,489 9,919 84,141 10,325 8,968 21,444 23,530 20,872 8,172 4,465 8,683 9,810 26,158 Repurchase agreements (5) 0 0 0 0 0 0 0 0 0 0 0 0 0 Term auction credit 468,589 20,010 231,676 43,288 11,911 83,833 12,753 6,469 4,638 5,749 2,416 6,025 39,823 Other loans 135,342 7,876 121,981 96 9 643 209 1,915 120 340 37 424 1,693 Net portfolio holdings of Commercial Paper Funding Facility LLC (6) 240,713 0 240,713 0 0 0 0 0 0 0 0 0 0 Net portfolio holdings of LLCs funded through the Money Market Investor Funding Facility (7) 0 0 0 0 0 0 0 0 0 0 0 0 0 Net portfolio holdings of Maiden Lane LLC (8) 26,212 0 26,212 0 0 0 0 0 0 0 0 0 0 Net portfolio holdings of Maiden Lane II LLC (9) 18,439 0 18,439 0 0 0 0 0 0 0 0 0 0 Net portfolio holdings of Maiden Lane III LLC (10) 27,628 0 27,628 0 0 0 0 0 0 0 0 0 0 Items in process of collection 718 39 0 116 73 39 93 57 26 67 28 82 98 Bank premises 2,187 122 210 65 146 233 224 207 134 112 272 250 212 Central bank liquidity swaps (11) 329,012 13,146 88,161 36,046 24,167 93,114 25,094 10,953 3,265 5,051 3,237 4,219 22,558 Other assets (12) 45,582 1,852 14,302 3,651 2,547 8,742 3,916 2,621 974 780 1,024 1,210 3,964 Interdistrict settlement account 0 + 1,087 + 5,436 - 57,938 + 860 - 33,014 + 20,085 + 18,731 - 2,087 - 3,478 + 12,452 + 15,219 + 22,648 Total assets 2,068,950 76,588 1,049,860 59,176 69,187 223,744 139,543 109,327 33,773 23,248 47,893 59,846 176,766 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, March 18, 2009 (continued) Millions of dollars Kansas San Assets, liabilities, and capital Total Boston New York Philadelphia Cleveland Richmond Atlanta Chicago St. Louis Minneapolis City Dallas Francisco Liabilities Federal Reserve notes outstanding 1,043,003 37,457 365,268 40,725 45,825 79,715 133,742 87,682 29,556 20,121 29,376 62,489 111,048 Less: Notes held by F.R. Banks 180,271 5,457 54,888 4,978 7,426 12,143 29,564 13,397 3,682 2,830 3,350 16,975 25,581 Federal Reserve notes, net 862,732 31,999 310,381 35,747 38,399 67,572 104,178 74,285 25,874 17,291 26,025 45,514 85,467 Reverse repurchase agreements (13) 65,027 2,727 23,136 2,839 2,466 5,897 6,470 5,739 2,247 1,228 2,388 2,697 7,193 Deposits 1,083,408 39,757 696,864 15,152 24,604 137,408 24,862 27,019 5,001 3,413 18,756 10,605 79,966 Depository institutions 780,306 39,739 393,884 15,147 24,600 137,331 24,859 27,018 4,995 3,413 18,755 10,605 79,962 U.S. Treasury, general account 100,379 0 100,379 0 0 0 0 0 0 0 0 0 0 U.S. Treasury, supplementary financing account 199,937 0 199,937 0 0 0 0 0 0 0 0 0 0 Foreign official 2,490 2 2,461 4 3 11 3 1 0 1 0 1 3 Other 295 16 203 1 1 66 0 0 5 0 1 0 2 Deferred availability cash items 3,264 90 0 507 355 230 286 372 36 357 146 258 626 Other liabilities and accrued dividends (14) 9,405 168 6,764 199 191 490 371 309 160 112 127 178 335 Total liabilities 2,023,835 74,742 1,037,144 54,444 66,014 211,597 136,168 107,725 33,318 22,401 47,442 59,253 173,587 Capital Capital paid in 22,533 903 6,360 2,363 1,587 6,161 1,645 769 216 485 215 285 1,544 Surplus 21,140 844 5,671 2,315 1,552 5,981 1,612 704 210 324 208 271 1,449 Other capital 1,443 99 684 54 33 5 118 129 30 38 28 37 187 Total liabilities and capital 2,068,950 76,588 1,049,860 59,176 69,187 223,744 139,543 109,327 33,773 23,248 47,893 59,846 176,766 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, March 18, 2009 (continued) 1. Includes securities lent to dealers under the overnight and term securities lending facilities; refer to table 1A. 2. Face value of the securities. 3. Includes the original face value of inflation-indexed securities and compensation that adjusts for the effect of inflation on the original face value of such securities. 4. Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. Current face value of the securities, which is the remaining principal balance of the underlying mortgages. 5. Cash value of agreements, which are collateralized by U.S. Treasury and federal agency securities. 6. Refer to table 6 and the note on consolidation below. 7. Refer to table 7 and the note on consolidation below. 8. Refer to table 3 and the note on consolidation below. 9. Refer to table 4 and the note on consolidation below. 10. Refer to table 5 and the note on consolidation below. 11. Dollar value of foreign currency held under these agreements valued at the exchange rate to be used when the foreign currency is returned to the foreign central bank. This exchange rate equals the market exchange rate used when the foreign currency was acquired from the foreign central bank. 12. Includes other assets denominated in foreign currencies, which are revalued daily at market exchange rates. 13. Cash value of agreements, which are collateralized by U.S. Treasury securities. 14. Includes the liabilities of Commercial Paper Funding Facility LLC, the LLCs funded through the Money Market Investor Funding Facility, Maiden Lane LLC, Maiden Lane II LLC, and Maiden Lane III 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 3 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 October 27, 2008, the FRBNY began extending loans to Commercial Paper Funding Facility LLC, which was formed to purchase three-month U.S. dollar-denominated commercial paper from eligible issuers. On October 21, 2008, the Federal Reserve Board authorized the FRBNY to extend credit to a series of LLCs funded through the Money Market Investor Funding Facility. These LLCs, which became operational on November 24, 2008, were established to purchase short-term U.S. dollar-denominated certificates of deposit, bank notes, and commercial paper from eligible issuers. On November 25, 2008, a loan was extended to Maiden Lane III LLC, which was formed to purchase multi-sector collateralized debt obligations on which the Financial Products group of the American International Group, Inc. has written credit default swap contracts. On December 12, 2008, a loan was extended to Maiden Lane II LLC, which was formed to purchase residential mortgage-backed securities from the U.S. securities lending reinvestment portfolio of subsidiaries of American International Group, Inc. The FRBNY is the sole beneficiary of Commercial Paper Funding Facility LLC and the primary beneficiary of the other LLCs cited above. 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 Mar 18, 2009 Federal Reserve notes outstanding 1,043,003 Less: Notes held by F.R. Banks not subject to collateralization 180,271 Federal Reserve notes to be collateralized 862,732 Collateral held against Federal Reserve notes 862,732 Gold certificate account 11,037 Special drawing rights certificate account 2,200 U.S. Treasury, agency debt, and mortgage-backed securities pledged (1) 698,663 Other assets pledged 150,832 Memo: Total U.S. Treasury, agency debt, and mortgage-backed securities (1) 759,465 Less: Face value of securities under reverse repurchase agreements 60,802 U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 698,663 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.