For release at 4:30 p.m. EDT December 3, 2009 The Board's H.4.1 statistical release, "Factors Affecting Reserve Balances of Depository Institutions and Condition Statement of Federal Reserve Banks," has been modified to include information related to the Federal Reserve Bank of New York's (FRBNY) preferred interests in AIA Aurora LLC and ALICO Holdings LLC. This information is presented in table 1, in a new table 9, "Supplemental Information on the Federal Reserve Bank of New York's Preferred Interests in AIA Aurora LLC and ALICO Holdings LLC," in table 10, and in table 11. In conjunction with the restructuring of the government's assistance to American International Group (AIG) announced March 2, 2009, the outstanding balance and amount available of revolving credit provided to AIG by the FRBNY has been reduced in exchange for preferred interests in two special purpose vehicles, AIA Aurora LLC and ALICO Holdings LLC. These two limited liability companies were created to directly or indirectly hold all of the outstanding common stock of American International Assurance Company Ltd. (AIA) and American Life Insurance Company (ALICO), two life insurance subsidiaries of AIG. AIG will retain control of AIA Aurora LLC and ALICO Holdings LLC, and the FRBNY will have certain consent, disposition, and conversion rights with respect to its preferred interests. The FRBNY's combined preferred interests in AIA Aurora LLC and ALICO Holdings LLC are presented in table 1, in table 10, and in table 11. Supplemental information on the FRBNY's preferred interests in the two LLCs is presented in table 9. This table presents the FRBNY's preferred interests in the two LLCs and the accrued dividends on those preferred interests. FEDERAL RESERVE statistical release H.4.1 Factors Affecting Reserve Balances of Depository Institutions and Condition Statement of Federal Reserve Banks December 3, 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 Dec 2, 2009 Nov 25, 2009 Dec 3, 2008 Dec 2, 2009 Reserve Bank credit 2,187,072 - 2,759 + 69,485 2,186,478 Securities held outright (1) 1,783,761 - 1,268 +1,295,316 1,783,780 U.S. Treasury securities 776,539 + 7 + 300,150 776,543 Bills (2) 18,423 0 0 18,423 Notes and bonds, nominal (2) 707,649 0 + 297,158 707,649 Notes and bonds, inflation-indexed (2) 44,643 0 + 3,572 44,643 Inflation compensation (3) 5,825 + 7 - 578 5,829 Federal agency debt securities (2) 155,066 + 1,441 + 143,009 155,066 Mortgage-backed securities (4) 852,156 - 2,716 + 852,156 852,172 Repurchase agreements (5) 0 0 - 80,000 0 Term auction credit 101,009 0 - 305,499 101,009 Other loans 102,515 - 5,969 - 153,058 84,817 Primary credit 19,818 - 114 - 70,515 19,681 Secondary credit 0 0 - 158 0 Seasonal credit 47 - 22 + 43 33 Primary dealer and other broker-dealer credit (6) 0 0 - 57,198 0 Asset-Backed Commercial Paper Money Market Mutual Fund Liquidity Facility 0 0 - 51,936 0 Credit extended to American International Group, Inc., net (7) 38,172 - 6,771 - 17,772 20,660 Term Asset-Backed Securities Loan Facility, net (8) 44,478 + 939 + 44,478 44,443 Other credit extensions 0 0 0 0 Net portfolio holdings of Commercial Paper Funding Facility LLC (9) 15,041 - 1 - 282,535 15,032 Net portfolio holdings of Maiden Lane LLC (10) 26,394 + 44 - 600 26,464 Net portfolio holdings of Maiden Lane II LLC (11) 15,846 + 69 + 15,846 15,847 Net portfolio holdings of Maiden Lane III LLC (12) 22,967 + 15 + 1,814 22,989 Net portfolio holdings of TALF LLC (13) 266 0 + 266 266 Preferred interests in AIA Aurora LLC and ALICO Holdings LLC (14) 7,143 + 7,143 + 7,143 25,000 Float -1,743 - 143 - 769 -2,126 Central bank liquidity swaps (15) 23,434 - 2,377 - 478,901 23,038 Other Federal Reserve assets (16) 90,440 - 270 + 50,465 90,361 Gold stock 11,041 0 0 11,041 Special drawing rights certificate account 5,200 0 + 3,000 5,200 Treasury currency outstanding (17) 42,633 + 14 + 3,959 42,628 Total factors supplying reserve funds 2,245,947 - 2,744 + 76,445 2,245,347 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 Dec 2, 2009 Nov 25, 2009 Dec 3, 2008 Dec 2, 2009 Currency in circulation (17) 922,940 + 3,008 + 50,527 922,801 Reverse repurchase agreements (18) 58,153 + 28 - 38,572 57,558 Foreign official and international accounts 58,153 + 28 - 13,572 57,558 Dealers 0 0 - 25,000 0 Treasury cash holdings 232 - 1 - 9 228 Deposits with F.R. Banks, other than reserve balances 59,749 + 10,864 - 453,146 80,921 U.S. Treasury, general account 38,243 + 12,339 - 22,806 60,164 U.S. Treasury, supplementary financing account 14,999 0 - 425,529 14,999 Foreign official 2,599 - 564 + 2,409 2,080 Service-related 3,033 - 4 - 1,926 3,033 Required clearing balances 3,033 - 4 - 1,923 3,033 Adjustments to compensate for float 0 0 - 3 0 Other 874 - 908 - 5,294 644 Other liabilities and capital (19) 65,546 + 138 + 12,232 64,851 Total factors, other than reserve balances, absorbing reserve funds 1,106,620 + 14,037 - 428,968 1,126,360 Reserve balances with Federal Reserve Banks 1,139,326 - 16,782 + 505,413 1,118,987 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. Includes outstanding principal and capitalized interest net of unamortized deferred commitment fees and allowance for loan restructuring. Excludes credit extended to consolidated LLCs. 8. Includes credit extended by the Federal Reserve Bank of New York to eligible borrowers through the Term Asset-Backed Securities Loan Facility, net of unamortized deferred administrative fees. 9. Refer to table 7 and the note on consolidation accompanying table 11. 10. Refer to table 4 and the note on consolidation accompanying table 11. 11. Refer to table 5 and the note on consolidation accompanying table 11. 12. Refer to table 6 and the note on consolidation accompanying table 11. 13. Refer to table 8 and the note on consolidation accompanying table 11. 14. Refer to table 9. 15. 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. 16. Includes other assets denominated in foreign currencies, which are revalued daily at market exchange rates, and accrued dividends on the Federal Reserve Bank of New York's preferred interests in AIA Aurora LLC and ALICO Holdings LLC. 17. Estimated. 18. Cash value of agreements, which are collateralized by U.S. Treasury securities and federal agency debt securities. 19. Includes the liabilities of Commercial Paper Funding Facility LLC, 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 8 and the note on consolidation accompanying table 11. 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 Dec 2, 2009 Nov 25, 2009 Dec 3, 2008 Dec 2, 2009 Marketable securities held in custody for foreign official and international accounts (1) 2,931,500 + 6,199 + 436,702 2,942,149 U.S. Treasury securities 2,163,510 + 5,145 + 536,800 2,171,195 Federal agency securities (2) 767,991 + 1,054 - 100,097 770,953 Securities lent to dealers 9,235 + 3,074 - 187,844 9,205 Overnight facility (3) 9,235 + 3,074 + 3,048 9,205 U.S. Treasury securities 7,738 + 2,628 + 1,551 8,041 Federal agency debt securities 1,496 + 446 + 1,496 1,164 Term facility (4) 0 0 - 190,892 0 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. U.S. Treasury securities only. Fully collateralized by U.S. Treasury securities, federal agency securities, and other highly rated debt securities. 2. Maturity Distribution of Term Auction Credit, Other Loans, and Securities, December 2, 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 87,857 13,152 --- --- --- --- 101,009 Other loans (1) 15,212 4,502 0 65,103 0 --- 84,817 U.S. Treasury securities (2) Holdings 15,039 24,457 49,713 330,020 212,649 144,665 776,543 Weekly changes - 989 + 346 + 1,002 - 1,316 + 963 + 3 + 8 Federal agency debt securities (3) Holdings 30 1,591 22,333 95,670 33,395 2,047 155,066 Weekly changes 0 0 0 0 0 0 0 Mortgage-backed securities (4) Holdings 0 0 0 0 0 852,172 852,172 Weekly changes 0 0 0 0 0 + 48 + 48 Commercial paper held by Commercial Paper Funding Facility LLC (5) 1,029 9,440 0 --- --- --- 10,469 Asset-backed securities held by TALF LLC (6) 0 0 0 0 0 0 0 Repurchase agreements (7) 0 0 --- --- --- --- 0 Central bank liquidity swaps (8) 18,811 4,227 0 0 0 0 23,038 Reverse repurchase agreements (7) 57,558 0 --- --- --- --- 57,558 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, 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 commercial paper held by Commercial Paper Funding Facility LLC. 6. Face value of asset-backed securities held by TALF LLC, which is the remaining principal balance of the underlying assets. 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. Supplemental Information on Mortgage-Backed Securities Purchase Program Millions of dollars Wednesday Account name Dec 2, 2009 Mortgage-backed securities held outright (1) 852,172 Commitments to buy mortgage-backed securities (2) 162,380 Commitments to sell mortgage-backed securities (2) 0 Cash and cash equivalents (3) 66 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 as well as dollar rolls. 3. This amount is included in other Federal Reserve assets in table 1 and in other assets in table 10 and table 11. 4. Information on Principal Accounts of Maiden Lane LLC Millions of dollars Wednesday Account name Dec 2, 2009 Net portfolio holdings of Maiden Lane LLC (1) 26,464 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) 401 Outstanding principal amount and accrued interest on loan payable to JPMorgan Chase & Co. (3) 1,243 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, 2009. 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 11. 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 10 and table 11. Note: On June 26, 2008, the Federal Reserve Bank of New York (FRBNY) extended credit to Maiden Lane LLC under the authority of section 13(3) of the Federal Reserve Act. This limited liability company was formed to acquire certain assets of Bear Stearns and to manage those assets through time to maximize repayment of the credit extended and to minimize disruption to financial markets. Payments by Maiden Lane LLC from the proceeds of the net portfolio holdings will be made in the following order: operating expenses of the LLC, principal due to the FRBNY, interest due to the FRBNY, principal due to JPMorgan Chase & Co., and interest due to JPMorgan Chase & Co. Any remaining funds will be paid to the FRBNY. 5. Information on Principal Accounts of Maiden Lane II LLC Millions of dollars Wednesday Account name Dec 2, 2009 Net portfolio holdings of Maiden Lane II LLC (1) 15,847 Outstanding principal amount of loan extended by the Federal Reserve Bank of New York (2) 16,018 Accrued interest payable to the Federal Reserve Bank of New York (2) 250 Deferred payment and accrued interest payable to subsidiaries of American International Group, Inc. (3) 1,034 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, 2009. 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 11. 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 10 and table 11. Note: On December 12, 2008, the Federal Reserve Bank of New York (FRBNY) began extending credit to Maiden Lane II LLC under the authority of section 13(3) of the Federal Reserve Act. This limited liability company was formed to purchase residential mortgage-backed securities from the U.S. securities lending reinvestment portfolio of subsidiaries of American International Group, Inc. (AIG subsidiaries). Payments by Maiden Lane II LLC from the proceeds of the net portfolio holdings will be made in the following order: operating expenses of Maiden Lane II LLC, principal due to the FRBNY, interest due to the FRBNY, and deferred payment and interest due to AIG subsidiaries. Any remaining funds will be shared by the FRBNY and AIG subsidiaries. 6. Information on Principal Accounts of Maiden Lane III LLC Millions of dollars Wednesday Account name Dec 2, 2009 Net portfolio holdings of Maiden Lane III LLC (1) 22,989 Outstanding principal amount of loan extended by the Federal Reserve Bank of New York (2) 18,615 Accrued interest payable to the Federal Reserve Bank of New York (2) 322 Outstanding principal amount and accrued interest on loan payable to American International Group, Inc. (3) 5,180 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, 2009. 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 11. 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 10 and table 11. 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 Commercial Paper Funding Facility LLC Millions of dollars Wednesday Account name Dec 2, 2009 Commercial paper holdings, net (1) 10,216 Other investments, net 4,816 Net portfolio holdings of Commercial Paper Funding Facility LLC 15,032 Memorandum: Commercial paper holdings, face value 10,469 Outstanding principal amount of loan extended by the Federal Reserve Bank of New York (2) 10,395 Accrued interest payable to the Federal Reserve Bank of New York (2) 3 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 11. 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. 8. Information on Principal Accounts of TALF LLC Millions of dollars Wednesday Account name Dec 2, 2009 Asset-backed securities holdings (1) 0 Other investments, net 266 Net portfolio holdings of TALF LLC 266 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) 102 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 11. 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 10 and table 11. 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 $20 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. 9. Supplemental Information on the Federal Reserve Bank of New York's Preferred Interests in AIA Aurora LLC and ALICO Holdings LLC Millions of dollars Wednesday Account name Dec 2, 2009 Preferred interests in AIA Aurora LLC and ALICO Holdings LLC (1) 25,000 Accrued dividends on preferred interests in AIA Aurora LLC and ALICO Holdings LLC (2) 7 Preferred interests in AIA Aurora LLC (1) 16,000 Accrued dividends on preferred interests in AIA Aurora LLC (2) 4 Preferred interests in ALICO Holdings LLC (1) 9,000 Accrued dividends on preferred interests in ALICO Holdings LLC (2) 2 1. Book value. 2. This amount is included in other Federal Reserve assets in table 1 and in other assets in table 10 and table 11. Note: In conjunction with the restructuring of the government's assistance to American International Group, Inc. (AIG) announced March 2, 2009, the outstanding balance and amount available of revolving credit provided to AIG by the FRBNY has been reduced in exchange for preferred interests in two special purpose vehicles, AIA Aurora LLC and ALICO Holdings LLC. These two limited liability companies were created to directly or indirectly hold all of the outstanding common stock of American International Assurance Company Ltd. (AIA) and American Life Insurance Company (ALICO), two life insurance subsidiaries of AIG. AIG will retain control of AIA Aurora LLC and ALICO Holdings LLC, and the FRBNY will have certain consent, disposition, and conversion rights with respect to its preferred interests. Dividends accrue as a percentage of the FRBNY's preferred interests in AIA Aurora LLC and ALICO Holdings LLC. On a quarterly basis, the accrued dividends are capitalized and added to the FRBNY's preferred interests in AIA Aurora LLC and ALICO Holdings LLC. 10. Consolidated Statement of Condition of All Federal Reserve Banks Millions of dollars Eliminations Change since from Wednesday Wednesday Wednesday Assets, liabilities, and capital consolidation Dec 2, 2009 Nov 25, 2009 Dec 3, 2008 Assets Gold certificate account 11,037 0 0 Special drawing rights certificate account 5,200 0 + 3,000 Coin 2,019 + 3 + 379 Securities, repurchase agreements, term auction credit, and other loans 1,969,607 - 24,706 + 746,421 Securities held outright (1) 1,783,780 + 54 +1,295,854 U.S. Treasury securities 776,543 + 8 + 300,189 Bills (2) 18,423 0 0 Notes and bonds, nominal (2) 707,649 0 + 297,158 Notes and bonds, inflation-indexed (2) 44,643 0 + 3,572 Inflation compensation (3) 5,829 + 8 - 540 Federal agency debt securities (2) 155,066 0 + 143,494 Mortgage-backed securities (4) 852,172 + 48 + 852,172 Repurchase agreements (5) 0 0 - 80,000 Term auction credit 101,009 0 - 305,499 Other loans 84,817 - 24,761 - 163,934 Net portfolio holdings of Commercial Paper Funding Facility LLC (6) 15,032 - 14 - 288,848 Net portfolio holdings of Maiden Lane LLC (7) 26,464 + 103 - 618 Net portfolio holdings of Maiden Lane II LLC (8) 15,847 + 2 + 15,847 Net portfolio holdings of Maiden Lane III LLC (9) 22,989 + 28 + 1,806 Net portfolio holdings of TALF LLC (10) 266 0 + 266 Preferred interests in AIA Aurora LLC and ALICO Holdings LLC (11) 25,000 + 25,000 + 25,000 Items in process of collection (306) 435 - 204 - 1,077 Bank premises 2,231 + 5 + 56 Central bank liquidity swaps (12) 23,038 - 2,773 - 483,781 Other assets (13) 88,121 + 274 + 50,376 Total assets (306) 2,207,286 - 2,281 + 68,828 Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table. 10. 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 Dec 2, 2009 Nov 25, 2009 Dec 3, 2008 Liabilities Federal Reserve notes, net of F.R. Bank holdings 882,417 - 617 + 46,588 Reverse repurchase agreements (14) 57,558 - 925 - 34,436 Deposits (0) 1,199,897 - 838 + 44,850 Depository institutions 1,122,010 - 46,560 + 466,831 U.S. Treasury, general account 60,164 + 47,167 + 2,819 U.S. Treasury, supplementary financing account 14,999 0 - 419,108 Foreign official 2,080 - 46 + 1,894 Other (0) 644 - 1,398 - 7,586 Deferred availability cash items (306) 2,561 + 280 + 132 Other liabilities and accrued dividends (15) 12,171 - 49 + 1,827 Total liabilities (306) 2,154,605 - 2,149 + 58,963 Capital accounts Capital paid in 25,438 + 15 + 4,576 Surplus 21,448 + 8 + 4,273 Other capital accounts 5,795 - 156 + 1,016 Total capital 52,681 - 133 + 9,866 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 7 and the note on consolidation accompanying table 11. 7. Refer to table 4 and the note on consolidation accompanying table 11. 8. Refer to table 5 and the note on consolidation accompanying table 11. 9. Refer to table 6 and the note on consolidation accompanying table 11. 10. Refer to table 8 and the note on consolidation accompanying table 11. 11. Refer to table 9. 12. Dollar value of foreign currency held under these agreements valued at the exchange rate to be used when the foreign currency is returned to the foreign central bank. This exchange rate equals the market exchange rate used when the foreign currency was acquired from the foreign central bank. 13. Includes other assets denominated in foreign currencies, which are revalued daily at market exchange rates, and accrued dividends on the Federal Reserve Bank of New York's preferred interests in AIA Aurora LLC and ALICO Holdings LLC. 14. Cash value of agreements, which are collateralized by U.S. Treasury securities and federal agency debt securities. 15. Includes the liabilities of Commercial Paper Funding Facility LLC, 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 8 and the note on consolidation accompanying table 11. 11. Statement of Condition of Each Federal Reserve Bank, December 2, 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 11,037 412 3,895 450 467 882 1,356 911 329 197 335 621 1,182 Special drawing rights certificate acct. 5,200 196 1,818 210 237 412 654 424 150 90 153 282 574 Coin 2,019 68 77 164 147 285 232 279 32 62 136 216 322 Securities, repurchase agreements, term auction credit, and other loans 1,969,607 41,702 854,878 32,414 72,341 65,525 215,492 195,673 71,040 29,850 81,492 86,803 222,398 Securities held outright (1) 1,783,780 34,218 697,236 27,674 70,474 64,282 214,921 193,024 69,882 29,531 80,518 86,248 215,772 U.S. Treasury securities 776,543 14,896 303,531 12,047 30,680 27,984 93,563 84,030 30,422 12,856 35,052 37,547 93,933 Bills (2) 18,423 353 7,201 286 728 664 2,220 1,994 722 305 832 891 2,228 Notes and bonds (3) 758,120 14,543 296,330 11,762 29,952 27,320 91,343 82,037 29,700 12,551 34,221 36,656 91,705 Federal agency debt securities (2) 155,066 2,975 60,611 2,406 6,126 5,588 18,683 16,780 6,075 2,567 7,000 7,498 18,757 Mortgage-backed securities (4) 852,172 16,347 333,093 13,221 33,668 30,710 102,675 92,214 33,385 14,108 38,466 41,204 103,082 Repurchase agreements (5) 0 0 0 0 0 0 0 0 0 0 0 0 0 Term auction credit 101,009 7,342 74,075 4,578 1,867 1,143 384 2,240 1,138 280 965 550 6,449 Other loans 84,817 141 83,568 162 1 100 187 409 20 39 9 5 177 Net portfolio holdings of Commercial Paper Funding Facility LLC (6) 15,032 0 15,032 0 0 0 0 0 0 0 0 0 0 Net portfolio holdings of Maiden Lane LLC (7) 26,464 0 26,464 0 0 0 0 0 0 0 0 0 0 Net portfolio holdings of Maiden Lane II LLC (8) 15,847 0 15,847 0 0 0 0 0 0 0 0 0 0 Net portfolio holdings of Maiden Lane III LLC (9) 22,989 0 22,989 0 0 0 0 0 0 0 0 0 0 Net portfolio holdings of TALF LLC (10) 266 0 266 0 0 0 0 0 0 0 0 0 0 Preferred interests in AIA Aurora LLC and ALICO Holdings LLC (11) 25,000 0 25,000 0 0 0 0 0 0 0 0 0 0 Items in process of collection 742 37 0 136 131 23 169 35 30 28 47 40 65 Bank premises 2,231 120 256 69 145 237 221 205 134 111 268 251 212 Central bank liquidity swaps (12) 23,038 923 6,129 2,531 1,697 6,537 1,762 769 229 355 227 296 1,584 Other assets (13) 88,121 2,275 31,040 4,026 4,384 9,908 9,389 7,451 2,662 1,444 3,022 3,309 9,212 Interdistrict settlement account 0 + 18,765 + 12,593 + 22,065 - 20,594 + 245,190 - 72,222 - 88,091 - 34,633 - 8,524 - 27,780 - 18,515 - 28,253 Total assets 2,207,592 64,498 1,016,284 62,065 58,953 328,999 157,051 117,655 39,974 23,612 57,901 73,305 207,295 Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table. 11. Statement of Condition of Each Federal Reserve Bank, December 2, 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 1,080,996 35,867 398,210 38,845 45,078 82,637 135,717 85,631 30,617 19,461 28,793 63,335 116,805 Less: Notes held by F.R. Banks 198,578 4,277 72,170 6,204 8,651 11,078 31,229 13,128 4,332 2,869 3,234 14,206 27,201 Federal Reserve notes, net 882,417 31,590 326,040 32,640 36,427 71,559 104,488 72,503 26,285 16,591 25,560 49,129 89,604 Reverse repurchase agreements (14) 57,558 1,104 22,498 893 2,274 2,074 6,935 6,228 2,255 953 2,598 2,783 6,962 Deposits 1,199,897 29,635 643,540 22,580 15,717 240,365 41,351 36,768 10,616 4,192 28,887 20,140 106,106 Depository institutions 1,122,010 29,627 565,832 22,575 15,714 240,258 41,347 36,730 10,613 4,192 28,886 20,140 106,097 U.S. Treasury, general account 60,164 0 60,164 0 0 0 0 0 0 0 0 0 0 U.S. Treasury, supplementary financing account 14,999 0 14,999 0 0 0 0 0 0 0 0 0 0 Foreign official 2,080 2 2,050 4 3 11 3 1 0 1 0 1 3 Other 644 7 494 0 0 96 0 37 3 0 1 0 7 Deferred availability cash items 2,867 87 0 470 388 99 325 190 54 288 168 226 573 Other liabilities and accrued dividends (15) 12,171 179 8,259 219 287 614 622 521 240 147 223 280 581 Total liabilities 2,154,911 62,595 1,000,337 56,802 55,093 314,710 153,721 116,210 39,450 22,171 57,436 72,559 203,826 Capital Capital paid in 25,438 944 7,427 2,627 1,910 7,136 1,579 622 240 712 210 350 1,681 Surplus 21,448 844 5,976 2,316 1,551 5,983 1,612 704 209 324 207 271 1,450 Other capital 5,795 114 2,545 320 398 1,170 140 119 75 404 47 125 338 Total liabilities and capital 2,207,592 64,498 1,016,284 62,065 58,953 328,999 157,051 117,655 39,974 23,612 57,901 73,305 207,295 Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table. 11. Statement of Condition of Each Federal Reserve Bank, December 2, 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 7 and the note on consolidation below. 7. Refer to table 4 and the note on consolidation below. 8. Refer to table 5 and the note on consolidation below. 9. Refer to table 6 and the note on consolidation below. 10. Refer to table 8 and the note on consolidation below. 11. Refer to table 9. 12. Dollar value of foreign currency held under these agreements valued at the exchange rate to be used when the foreign currency is returned to the foreign central bank. This exchange rate equals the market exchange rate used when the foreign currency was acquired from the foreign central bank. 13. Includes other assets denominated in foreign currencies, which are revalued daily at market exchange rates, and accrued dividends on the Federal Reserve Bank of New York's preferred interests in AIA Aurora LLC and ALICO Holdings LLC. 14. Cash value of agreements, which are collateralized by U.S. Treasury securities and federal agency debt securities. 15. Includes the liabilities of Commercial Paper Funding Facility LLC, 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 8 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 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 sole beneficiary of Commercial Paper Funding Facility LLC. 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 10), 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 10). 12. Collateral Held against Federal Reserve Notes: Federal Reserve Agents' Accounts Millions of dollars Federal Reserve notes and collateral Wednesday Dec 2, 2009 Federal Reserve notes outstanding 1,080,996 Less: Notes held by F.R. Banks not subject to collateralization 198,578 Federal Reserve notes to be collateralized 882,417 Collateral held against Federal Reserve notes 882,417 Gold certificate account 11,037 Special drawing rights certificate account 5,200 U.S. Treasury, agency debt, and mortgage-backed securities pledged (1,2) 866,181 Other assets pledged 0 Memo: Total U.S. Treasury, agency debt, and mortgage-backed securities (1,2) 1,783,780 Less: Face value of securities under reverse repurchase agreements 56,731 U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 1,727,049 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 and term securities lending facilities; refer to table 1A.