FEDERAL RESERVE statistical release H.4.1 Factors Affecting Reserve Balances of Depository Institutions and Condition Statement of Federal Reserve Banks December 28, 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 23, 2009 Dec 16, 2009 Dec 24, 2008 Dec 23, 2009 Reserve Bank credit 2,214,291 + 23,723 + 33,595 2,220,854 Securities held outright (1) 1,839,748 + 32,416 +1,343,754 1,846,887 U.S. Treasury securities 776,572 + 11 + 300,505 776,576 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) 5,858 + 11 - 224 5,862 Federal agency debt securities (2) 158,555 + 1,767 + 138,628 159,879 Mortgage-backed securities (4) 904,621 + 30,637 + 904,621 910,433 Repurchase agreements (5) 0 0 - 80,000 0 Term auction credit 75,918 - 9,914 - 344,888 75,918 Other loans 87,080 + 309 - 109,788 87,978 Primary credit 18,749 - 344 - 67,511 18,810 Secondary credit 960 + 748 + 909 955 Seasonal credit 37 + 1 + 34 36 Primary dealer and other broker-dealer credit (6) 0 0 - 45,679 0 Asset-Backed Commercial Paper Money Market Mutual Fund Liquidity Facility 0 0 - 24,858 0 Credit extended to American International Group, Inc., net (7) 20,285 - 363 - 19,733 20,470 Term Asset-Backed Securities Loan Facility, net (8) 47,049 + 267 + 47,049 47,708 Other credit extensions 0 0 0 0 Net portfolio holdings of Commercial Paper Funding Facility LLC (9) 14,044 + 12 - 311,752 14,055 Net portfolio holdings of Maiden Lane LLC (10) 26,579 + 75 - 339 26,585 Net portfolio holdings of Maiden Lane II LLC (11) 15,578 + 6 - 4,455 15,581 Net portfolio holdings of Maiden Lane III LLC (12) 22,643 + 19 - 5,442 22,650 Net portfolio holdings of TALF LLC (13) 280 + 14 + 280 298 Preferred interests in AIA Aurora LLC and ALICO Holdings LLC (14) 25,000 0 + 25,000 25,000 Float -1,584 + 269 - 415 -2,088 Central bank liquidity swaps (15) 12,072 - 2,420 - 531,541 10,272 Other Federal Reserve assets (16) 96,934 + 2,937 + 53,182 97,717 Gold stock 11,041 0 0 11,041 Special drawing rights certificate account 5,200 0 + 3,000 5,200 Treasury currency outstanding (17) 42,705 + 14 + 4,031 42,705 Total factors supplying reserve funds 2,273,237 + 23,737 + 40,626 2,279,800 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 23, 2009 Dec 16, 2009 Dec 24, 2008 Dec 23, 2009 Currency in circulation (17) 925,120 + 2,407 + 43,828 929,211 Reverse repurchase agreements (18) 61,043 + 3,814 - 26,715 60,725 Foreign official and international accounts 61,043 + 4,174 - 26,715 60,725 Dealers 0 - 360 0 0 Treasury cash holdings 229 + 9 - 6 232 Deposits with F.R. Banks, other than reserve balances 115,529 + 12,365 - 310,128 140,874 U.S. Treasury, general account 94,951 + 18,210 - 30,982 119,439 U.S. Treasury, supplementary financing account 15,000 0 - 274,247 15,000 Foreign official 1,944 + 420 + 1,300 2,295 Service-related 3,025 - 169 - 1,389 3,025 Required clearing balances 3,025 - 107 - 1,360 3,025 Adjustments to compensate for float 0 - 62 - 29 0 Other 609 - 6,097 - 4,809 1,115 Other liabilities and capital (19) 67,740 - 1,782 + 14,705 66,663 Total factors, other than reserve balances, absorbing reserve funds 1,169,661 + 16,813 - 278,315 1,197,705 Reserve balances with Federal Reserve Banks 1,103,576 + 6,925 + 318,941 1,082,095 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 23, 2009 Dec 16, 2009 Dec 24, 2008 Dec 23, 2009 Marketable securities held in custody for foreign official and international accounts (1) 2,957,714 + 9,212 + 448,022 2,954,241 U.S. Treasury securities 2,187,272 + 10,210 + 502,575 2,184,809 Federal agency securities (2) 770,442 - 999 - 54,553 769,433 Securities lent to dealers 8,493 - 401 - 176,073 8,155 Overnight facility (3) 8,493 - 401 + 1,523 8,155 U.S. Treasury securities 7,628 - 373 + 658 7,269 Federal agency debt securities 865 - 28 + 865 886 Term facility (4) 0 0 - 177,596 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 23, 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 0 75,918 --- --- --- --- 75,918 Other loans (1) 15,271 4,529 0 68,178 0 --- 87,978 U.S. Treasury securities (2) Holdings 15,982 23,993 49,800 329,284 212,769 144,748 776,576 Weekly changes - 3,520 + 3,520 + 1 + 3 + 3 + 5 + 11 Federal agency debt securities (3) Holdings 0 3,114 21,528 99,402 33,788 2,047 159,879 Weekly changes 0 + 246 + 178 + 1,548 + 222 0 + 2,194 Mortgage-backed securities (4) Holdings 0 0 0 0 0 910,433 910,433 Weekly changes 0 0 0 0 0 + 9,202 + 9,202 Commercial paper held by Commercial Paper Funding Facility LLC (5) 0 9,440 0 --- --- --- 9,440 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) 6,506 3,766 0 0 0 0 10,272 Reverse repurchase agreements (7) 60,725 0 --- --- --- --- 60,725 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 23, 2009 Mortgage-backed securities held outright (1) 910,433 Commitments to buy mortgage-backed securities (2) 148,133 Commitments to sell mortgage-backed securities (2) 0 Cash and cash equivalents (3) 1,656 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 23, 2009 Net portfolio holdings of Maiden Lane LLC (1) 26,585 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) 410 Outstanding principal amount and accrued interest on loan payable to JPMorgan Chase & Co. (3) 1,247 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 23, 2009 Net portfolio holdings of Maiden Lane II LLC (1) 15,581 Outstanding principal amount of loan extended by the Federal Reserve Bank of New York (2) 15,739 Accrued interest payable to the Federal Reserve Bank of New York (2) 261 Deferred payment and accrued interest payable to subsidiaries of American International Group, Inc. (3) 1,036 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 23, 2009 Net portfolio holdings of Maiden Lane III LLC (1) 22,650 Outstanding principal amount of loan extended by the Federal Reserve Bank of New York (2) 18,159 Accrued interest payable to the Federal Reserve Bank of New York (2) 336 Outstanding principal amount and accrued interest on loan payable to American International Group, Inc. (3) 5,189 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 23, 2009 Commercial paper holdings, net (1) 9,233 Other investments, net 4,822 Net portfolio holdings of Commercial Paper Funding Facility LLC 14,055 Memorandum: Commercial paper holdings, face value 9,440 Outstanding principal amount of loan extended by the Federal Reserve Bank of New York (2) 9,374 Accrued interest payable to the Federal Reserve Bank of New York (2) 4 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 23, 2009 Asset-backed securities holdings (1) 0 Other investments, net 298 Net portfolio holdings of TALF LLC 298 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) 103 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 23, 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) 79 Preferred interests in AIA Aurora LLC (1) 16,000 Accrued dividends on preferred interests in AIA Aurora LLC (2) 50 Preferred interests in ALICO Holdings LLC (1) 9,000 Accrued dividends on preferred interests in ALICO Holdings LLC (2) 28 Note: Components may not sum to totals because of rounding. 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 on preferred interests: 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 23, 2009 Dec 16, 2009 Dec 24, 2008 Assets Gold certificate account 11,037 0 0 Special drawing rights certificate account 5,200 0 + 3,000 Coin 2,051 + 6 + 371 Securities, repurchase agreements, term auction credit, and other loans 2,010,783 + 3,276 + 797,042 Securities held outright (1) 1,846,887 + 11,407 +1,349,995 U.S. Treasury securities 776,576 + 11 + 300,562 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) 5,862 + 11 - 167 Federal agency debt securities (2) 159,879 + 2,194 + 139,001 Mortgage-backed securities (4) 910,433 + 9,202 + 910,433 Repurchase agreements (5) 0 0 - 80,000 Term auction credit 75,918 - 9,914 - 374,301 Other loans 87,978 + 1,783 - 98,652 Net portfolio holdings of Commercial Paper Funding Facility LLC (6) 14,055 + 16 - 317,631 Net portfolio holdings of Maiden Lane LLC (7) 26,585 + 7 - 381 Net portfolio holdings of Maiden Lane II LLC (8) 15,581 + 3 - 4,468 Net portfolio holdings of Maiden Lane III LLC (9) 22,650 + 8 - 5,541 Net portfolio holdings of TALF LLC (10) 298 + 32 + 298 Preferred interests in AIA Aurora LLC and ALICO Holdings LLC (11) 25,000 0 + 25,000 Items in process of collection (253) 373 + 48 - 830 Bank premises 2,245 + 6 + 59 Central bank liquidity swaps (12) 10,272 - 4,220 - 542,456 Other assets (13) 92,873 + 852 + 50,738 Total assets (253) 2,239,003 + 35 + 5,202 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 23, 2009 Dec 16, 2009 Dec 24, 2008 Liabilities Federal Reserve notes, net of F.R. Bank holdings 888,785 + 5,398 + 39,069 Reverse repurchase agreements (14) 60,725 + 3,178 - 27,592 Deposits (0) 1,220,369 - 1,844 - 21,615 Depository institutions 1,082,520 + 9,225 + 263,116 U.S. Treasury, general account 119,439 - 12,718 + 1,381 U.S. Treasury, supplementary financing account 15,000 0 - 274,247 Foreign official 2,295 + 855 + 1,105 Other (0) 1,115 + 794 - 12,970 Deferred availability cash items (253) 2,460 - 185 - 77 Other liabilities and accrued dividends (15) 14,539 - 6,388 + 5,809 Total liabilities (253) 2,186,878 + 160 - 4,406 Capital accounts Capital paid in 25,643 + 6 + 4,572 Surplus 21,473 + 8 + 4,627 Other capital accounts 5,008 - 141 + 408 Total capital 52,124 - 127 + 9,607 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 23, 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 2,051 65 76 167 152 294 222 300 32 62 138 218 325 Securities, repurchase agreements, term auction credit, and other loans 2,010,783 39,588 867,215 30,358 73,720 67,630 222,972 202,139 72,960 30,823 84,316 89,693 229,368 Securities held outright (1) 1,846,887 35,429 721,903 28,653 72,967 66,556 222,524 199,853 72,354 30,576 83,367 89,300 223,406 U.S. Treasury securities 776,576 14,897 303,544 12,048 30,681 27,985 93,567 84,034 30,423 12,857 35,054 37,549 93,937 Bills (2) 18,423 353 7,201 286 728 664 2,220 1,994 722 305 832 891 2,228 Notes and bonds (3) 758,153 14,544 296,343 11,762 29,953 27,322 91,347 82,040 29,702 12,552 34,222 36,658 91,709 Federal agency debt securities (2) 159,879 3,067 62,493 2,480 6,317 5,762 19,263 17,301 6,263 2,647 7,217 7,730 19,339 Mortgage-backed securities (4) 910,433 17,465 355,866 14,125 35,969 32,809 109,695 98,519 35,667 15,073 41,096 44,021 110,129 Repurchase agreements (5) 0 0 0 0 0 0 0 0 0 0 0 0 0 Term auction credit 75,918 4,052 58,254 1,613 751 995 363 1,934 593 214 941 390 5,818 Other loans 87,978 107 87,058 92 2 79 85 352 13 33 8 4 145 Net portfolio holdings of Commercial Paper Funding Facility LLC (6) 14,055 0 14,055 0 0 0 0 0 0 0 0 0 0 Net portfolio holdings of Maiden Lane LLC (7) 26,585 0 26,585 0 0 0 0 0 0 0 0 0 0 Net portfolio holdings of Maiden Lane II LLC (8) 15,581 0 15,581 0 0 0 0 0 0 0 0 0 0 Net portfolio holdings of Maiden Lane III LLC (9) 22,650 0 22,650 0 0 0 0 0 0 0 0 0 0 Net portfolio holdings of TALF LLC (10) 298 0 298 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 625 24 0 82 123 10 147 43 22 30 31 43 70 Bank premises 2,245 121 263 70 145 238 222 206 135 111 268 254 213 Central bank liquidity swaps (12) 10,272 411 2,733 1,128 756 2,915 785 343 102 158 101 132 706 Other assets (13) 92,873 2,340 33,141 3,900 4,531 9,778 10,003 8,055 2,883 1,524 3,277 3,587 9,853 Interdistrict settlement account 0 + 7,201 + 84,852 + 36,341 - 17,136 + 189,880 - 76,304 - 90,199 - 36,111 - 8,752 - 34,878 - 21,830 - 33,064 Total assets 2,239,255 50,359 1,098,163 72,707 62,995 272,038 160,058 122,223 40,503 24,243 53,742 72,999 209,227 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 23, 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 1,082,347 35,897 398,723 38,662 44,998 82,596 136,302 85,603 31,114 19,386 28,825 63,160 117,081 Less: Notes held by F.R. Banks 193,562 3,696 71,667 5,846 7,808 10,209 32,101 12,223 4,147 2,649 3,073 13,627 26,514 Federal Reserve notes, net 888,785 32,201 327,056 32,816 37,190 72,387 104,201 73,380 26,967 16,737 25,752 49,532 90,567 Reverse repurchase agreements (14) 60,725 1,165 23,736 942 2,399 2,188 7,317 6,571 2,379 1,005 2,741 2,936 7,345 Deposits 1,220,369 14,803 722,709 33,056 18,794 182,645 44,014 39,784 10,223 4,551 24,293 19,194 106,303 Depository institutions 1,082,520 14,789 585,016 33,051 18,789 182,563 44,011 39,750 10,220 4,550 24,288 19,193 106,299 U.S. Treasury, general account 119,439 0 119,439 0 0 0 0 0 0 0 0 0 0 U.S. Treasury, supplementary financing account 15,000 0 15,000 0 0 0 0 0 0 0 0 0 0 Foreign official 2,295 2 2,265 4 3 11 3 1 0 1 0 1 3 Other 1,115 12 990 0 2 70 0 32 2 0 4 0 1 Deferred availability cash items 2,713 72 0 283 385 90 287 242 79 320 149 171 635 Other liabilities and accrued dividends (15) 14,539 223 9,175 268 384 710 911 774 326 190 323 398 858 Total liabilities 2,187,131 48,464 1,082,676 67,365 59,152 258,020 156,730 120,752 39,973 22,803 53,257 72,231 205,708 Capital Capital paid in 25,643 944 7,440 2,802 1,910 7,139 1,581 624 240 712 210 353 1,687 Surplus 21,473 844 6,001 2,316 1,551 5,983 1,612 704 209 324 207 271 1,450 Other capital 5,008 107 2,046 223 382 896 135 143 80 404 67 144 381 Total liabilities and capital 2,239,255 50,359 1,098,163 72,707 62,995 272,038 160,058 122,223 40,503 24,243 53,742 72,999 209,227 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 23, 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 23, 2009 Federal Reserve notes outstanding 1,082,347 Less: Notes held by F.R. Banks not subject to collateralization 193,562 Federal Reserve notes to be collateralized 888,785 Collateral held against Federal Reserve notes 888,785 Gold certificate account 11,037 Special drawing rights certificate account 5,200 U.S. Treasury, agency debt, and mortgage-backed securities pledged (1,2) 872,548 Other assets pledged 0 Memo: Total U.S. Treasury, agency debt, and mortgage-backed securities (1,2) 1,846,887 Less: Face value of securities under reverse repurchase agreements 60,330 U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 1,786,557 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.