FEDERAL RESERVE statistical release H.4.1 Factors Affecting Reserve Balances of Depository Institutions and Condition Statement of Federal Reserve Banks January 28, 2010 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 Jan 27, 2010 Jan 20, 2010 Jan 28, 2009 Jan 27, 2010 Reserve Bank credit 2,234,676 + 3,827 + 245,017 2,229,248 Securities held outright (1) 1,912,690 + 6,501 +1,403,997 1,910,020 U.S. Treasury securities 776,616 + 7 + 301,416 776,619 Bills (2) 18,423 0 0 18,423 Notes and bonds, nominal (2) 708,872 + 175 + 295,958 708,872 Notes and bonds, inflation-indexed (2) 43,777 - 124 + 4,399 43,777 Inflation compensation (3) 5,544 - 44 + 1,058 5,547 Federal agency debt securities (2) 162,833 + 1,650 + 136,165 163,673 Mortgage-backed securities (4) 973,241 + 4,843 + 966,417 969,728 Repurchase agreements (5) 0 0 - 17,143 0 Term auction credit 38,531 0 - 377,328 38,531 Other loans 87,375 + 1,213 - 62,634 87,906 Primary credit 14,855 - 257 - 50,135 14,759 Secondary credit 985 + 12 + 951 999 Seasonal credit 0 0 - 1 1 Primary dealer and other broker-dealer credit (6) 0 0 - 32,054 0 Asset-Backed Commercial Paper Money Market Mutual Fund Liquidity Facility 0 0 - 14,593 0 Credit extended to American International Group, Inc., net (7) 24,440 + 2,020 - 13,896 25,825 Term Asset-Backed Securities Loan Facility, net (8) 47,094 - 563 + 47,094 46,321 Other credit extensions 0 0 0 0 Net portfolio holdings of Commercial Paper Funding Facility LLC (9) 11,199 - 2,614 - 305,002 8,655 Net portfolio holdings of Maiden Lane LLC (10) 26,761 + 17 - 219 26,778 Net portfolio holdings of Maiden Lane II LLC (11) 15,426 + 20 - 4,266 15,493 Net portfolio holdings of Maiden Lane III LLC (12) 22,472 + 61 - 4,565 22,482 Net portfolio holdings of TALF LLC (13) 329 + 31 + 329 334 Preferred interests in AIA Aurora LLC and ALICO Holdings LLC (14) 25,106 0 + 25,106 25,106 Float -1,983 + 1 + 34 -2,108 Central bank liquidity swaps (15) 175 - 1,075 - 465,678 175 Other Federal Reserve assets (16) 96,595 - 328 + 52,384 95,876 Gold stock 11,041 0 0 11,041 Special drawing rights certificate account 5,200 0 + 3,000 5,200 Treasury currency outstanding (17) 42,740 + 14 + 1,011 42,740 Total factors supplying reserve funds 2,293,657 + 3,842 + 249,027 2,288,229 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 Jan 27, 2010 Jan 20, 2010 Jan 28, 2009 Jan 27, 2010 Currency in circulation (17) 917,935 - 1,351 + 30,832 918,657 Reverse repurchase agreements (18) 57,327 - 6,710 - 15,804 57,794 Foreign official and international accounts 57,327 - 6,710 - 15,804 57,794 Dealers 0 0 0 0 Treasury cash holdings 248 - 6 - 39 233 Deposits with F.R. Banks, other than reserve balances 146,877 - 12,282 - 91,568 138,366 U.S. Treasury, general account 135,038 - 8,870 + 79,499 126,772 U.S. Treasury, supplementary financing account 5,001 0 - 169,839 5,001 Foreign official 3,573 + 413 + 3,405 3,466 Service-related 2,761 0 - 1,643 2,761 Required clearing balances 2,761 0 - 1,643 2,761 Adjustments to compensate for float 0 0 0 0 Other 505 - 3,824 - 2,990 367 Other liabilities and capital (19) 66,725 - 1,424 + 16,296 65,234 Total factors, other than reserve balances, absorbing reserve funds 1,189,113 - 21,771 - 60,283 1,180,284 Reserve balances with Federal Reserve Banks 1,104,544 + 25,613 + 309,310 1,107,945 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 Jan 27, 2010 Jan 20, 2010 Jan 28, 2009 Jan 27, 2010 Marketable securities held in custody for foreign official and international accounts (1) 2,948,113 + 2,307 + 399,843 2,948,980 U.S. Treasury securities 2,179,464 + 732 + 442,465 2,179,714 Federal agency securities (2) 768,650 + 1,576 - 42,620 769,266 Securities lent to dealers 4,883 - 1,334 - 127,570 4,108 Overnight facility (3) 4,883 - 1,334 - 2,476 4,108 U.S. Treasury securities 4,383 - 1,339 - 2,976 3,543 Federal agency debt securities 500 + 5 + 500 565 Term facility (4) 0 0 - 125,094 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, January 27, 2010 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 38,531 0 --- --- --- --- 38,531 Other loans (1) 15,330 430 0 72,146 0 --- 87,906 U.S. Treasury securities (2) Holdings 16,564 26,640 46,210 327,157 214,778 145,270 776,619 Weekly changes + 2,157 - 2,156 + 1 + 2 + 2 + 3 + 8 Federal agency debt securities (3) Holdings 813 2,318 24,279 100,545 33,371 2,347 163,673 Weekly changes + 813 - 813 + 1,261 + 209 0 0 + 1,470 Mortgage-backed securities (4) Holdings 0 0 0 0 0 969,728 969,728 Weekly changes 0 0 0 0 0 - 1,173 - 1,173 Commercial paper held by Commercial Paper Funding Facility LLC (5) 977 2,966 0 --- --- --- 3,943 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) 75 100 0 0 0 0 175 Reverse repurchase agreements (7) 57,794 0 --- --- --- --- 57,794 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 Jan 27, 2010 Mortgage-backed securities held outright (1) 969,728 Commitments to buy mortgage-backed securities (2) 135,161 Commitments to sell mortgage-backed securities (2) 2,000 Cash and cash equivalents (3) 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 Jan 27, 2010 Net portfolio holdings of Maiden Lane LLC (1) 26,778 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) 424 Outstanding principal amount and accrued interest on loan payable to JPMorgan Chase & Co. (3) 1,253 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 Jan 27, 2010 Net portfolio holdings of Maiden Lane II LLC (1) 15,493 Outstanding principal amount of loan extended by the Federal Reserve Bank of New York (2) 15,479 Accrued interest payable to the Federal Reserve Bank of New York (2) 280 Deferred payment and accrued interest payable to subsidiaries of American International Group, Inc. (3) 1,039 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 Jan 27, 2010 Net portfolio holdings of Maiden Lane III LLC (1) 22,482 Outstanding principal amount of loan extended by the Federal Reserve Bank of New York (2) 17,743 Accrued interest payable to the Federal Reserve Bank of New York (2) 357 Outstanding principal amount and accrued interest on loan payable to American International Group, Inc. (3) 5,206 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 Jan 27, 2010 Commercial paper holdings, net (1) 3,787 Other investments, net 4,868 Net portfolio holdings of Commercial Paper Funding Facility LLC 8,655 Memorandum: Commercial paper holdings, face value 3,943 Outstanding principal amount of loan extended by the Federal Reserve Bank of New York (2) 3,911 Accrued interest payable to the Federal Reserve Bank of New York (2) 1 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 Jan 27, 2010 Asset-backed securities holdings (1) 0 Other investments, net 334 Net portfolio holdings of TALF LLC 334 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 Jan 27, 2010 Preferred interests in AIA Aurora LLC and ALICO Holdings LLC (1) 25,106 Accrued dividends on preferred interests in AIA Aurora LLC and ALICO Holdings LLC (2) 93 Preferred interests in AIA Aurora LLC (1) 16,068 Accrued dividends on preferred interests in AIA Aurora LLC (2) 59 Preferred interests in ALICO Holdings LLC (1) 9,038 Accrued dividends on preferred interests in ALICO Holdings LLC (2) 33 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 Jan 27, 2010 Jan 20, 2010 Jan 28, 2009 Assets Gold certificate account 11,037 0 0 Special drawing rights certificate account 5,200 0 + 3,000 Coin 2,230 + 80 + 374 Securities, repurchase agreements, term auction credit, and other loans 2,036,457 + 1,267 + 955,165 Securities held outright (1) 1,910,020 + 305 +1,399,149 U.S. Treasury securities 776,619 + 8 + 301,490 Bills (2) 18,423 0 0 Notes and bonds, nominal (2) 708,872 0 + 295,958 Notes and bonds, inflation-indexed (2) 43,777 0 + 4,399 Inflation compensation (3) 5,547 + 8 + 1,132 Federal agency debt securities (2) 163,673 + 1,470 + 135,308 Mortgage-backed securities (4) 969,728 - 1,173 + 962,351 Repurchase agreements (5) 0 0 0 Term auction credit 38,531 0 - 377,100 Other loans 87,906 + 962 - 66,884 Net portfolio holdings of Commercial Paper Funding Facility LLC (6) 8,655 - 4,456 - 239,436 Net portfolio holdings of Maiden Lane LLC (7) 26,778 + 20 + 1,006 Net portfolio holdings of Maiden Lane II LLC (8) 15,493 + 78 - 3,471 Net portfolio holdings of Maiden Lane III LLC (9) 22,482 + 11 - 4,974 Net portfolio holdings of TALF LLC (10) 334 + 36 + 334 Preferred interests in AIA Aurora LLC and ALICO Holdings LLC (11) 25,106 0 + 25,106 Items in process of collection (179) 309 - 358 - 959 Bank premises 2,245 + 2 + 62 Central bank liquidity swaps (12) 175 - 1,075 - 465,497 Other assets (13) 93,663 - 535 + 50,905 Total assets (179) 2,250,164 - 4,929 + 321,615 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 Jan 27, 2010 Jan 20, 2010 Jan 28, 2009 Liabilities Federal Reserve notes, net of F.R. Bank holdings 878,375 - 947 + 29,580 Reverse repurchase agreements (14) 57,794 - 5,136 - 14,420 Deposits (0) 1,246,343 + 4,232 + 290,872 Depository institutions 1,110,737 + 47,695 + 370,334 U.S. Treasury, general account 126,772 - 43,665 + 88,055 U.S. Treasury, supplementary financing account 5,001 0 - 169,839 Foreign official 3,466 + 251 + 3,358 Other (0) 367 - 48 - 1,036 Deferred availability cash items (179) 2,417 - 1,177 - 393 Other liabilities and accrued dividends (15) 12,864 - 2,284 + 4,314 Total liabilities (179) 2,197,793 - 5,313 + 309,953 Capital accounts Capital paid in 25,668 + 19 + 4,097 Surplus 25,294 + 102 + 6,317 Other capital accounts 1,408 + 261 + 1,247 Total capital 52,371 + 384 + 11,661 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, January 27, 2010 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 2,230 70 85 176 169 315 230 328 40 69 146 238 364 Securities, repurchase agreements, term auction credit, and other loans 2,036,457 38,802 862,177 30,352 75,652 69,371 230,637 208,712 75,236 31,889 86,656 92,896 234,077 Securities held outright (1) 1,910,020 36,640 746,580 29,632 75,461 68,831 230,131 206,685 74,827 31,621 86,217 92,352 231,042 U.S. Treasury securities 776,619 14,898 303,561 12,049 30,683 27,987 93,572 84,039 30,425 12,857 35,056 37,551 93,942 Bills (2) 18,423 353 7,201 286 728 664 2,220 1,994 722 305 832 891 2,228 Notes and bonds (3) 758,196 14,545 296,360 11,763 29,955 27,323 91,352 82,045 29,703 12,552 34,224 36,660 91,714 Federal agency debt securities (2) 163,673 3,140 63,976 2,539 6,466 5,898 19,720 17,711 6,412 2,710 7,388 7,914 19,798 Mortgage-backed securities (4) 969,728 18,602 379,043 15,044 38,312 34,946 116,839 104,935 37,990 16,054 43,773 46,888 117,301 Repurchase agreements (5) 0 0 0 0 0 0 0 0 0 0 0 0 0 Term auction credit 38,531 2,025 28,711 563 189 460 388 1,725 395 239 438 540 2,858 Other loans 87,906 137 86,886 157 2 80 118 302 14 29 1 4 177 Net portfolio holdings of Commercial Paper Funding Facility LLC (6) 8,655 0 8,655 0 0 0 0 0 0 0 0 0 0 Net portfolio holdings of Maiden Lane LLC (7) 26,778 0 26,778 0 0 0 0 0 0 0 0 0 0 Net portfolio holdings of Maiden Lane II LLC (8) 15,493 0 15,493 0 0 0 0 0 0 0 0 0 0 Net portfolio holdings of Maiden Lane III LLC (9) 22,482 0 22,482 0 0 0 0 0 0 0 0 0 0 Net portfolio holdings of TALF LLC (10) 334 0 334 0 0 0 0 0 0 0 0 0 0 Preferred interests in AIA Aurora LLC and ALICO Holdings LLC (11) 25,106 0 25,106 0 0 0 0 0 0 0 0 0 0 Items in process of collection 488 21 0 40 170 9 91 24 7 40 32 30 25 Bank premises 2,245 121 262 71 144 237 221 209 136 111 268 253 214 Central bank liquidity swaps (12) 175 7 47 19 13 50 13 6 2 3 2 2 12 Other assets (13) 93,663 2,363 33,397 3,894 4,570 9,830 10,108 8,142 2,922 1,541 3,315 3,625 9,956 Interdistrict settlement account 0 + 10,944 + 154,361 + 39,434 - 29,434 + 205,265 - 93,763 - 103,688 - 38,243 - 10,581 - 41,234 - 27,692 - 65,369 Total assets 2,250,343 52,936 1,154,890 74,647 51,988 286,371 149,548 115,067 40,578 23,358 49,672 70,254 181,034 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, January 27, 2010 (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 1,080,612 35,574 397,258 38,199 44,648 82,217 137,195 85,218 32,826 19,382 28,740 63,005 116,351 Less: Notes held by F.R. Banks 202,237 4,771 70,774 6,261 8,469 11,365 34,222 13,175 4,549 2,817 3,559 13,722 28,553 Federal Reserve notes, net 878,375 30,803 326,484 31,938 36,180 70,852 102,973 72,043 28,277 16,565 25,181 49,283 87,798 Reverse repurchase agreements (14) 57,794 1,109 22,590 897 2,283 2,083 6,963 6,254 2,264 957 2,609 2,794 6,991 Deposits 1,246,343 18,864 781,527 36,002 8,546 198,758 35,293 34,610 9,204 3,914 21,034 16,956 81,634 Depository institutions 1,110,737 18,856 646,126 35,995 8,542 198,622 35,290 34,575 9,202 3,914 21,032 16,956 81,628 U.S. Treasury, general account 126,772 0 126,772 0 0 0 0 0 0 0 0 0 0 U.S. Treasury, supplementary financing account 5,001 0 5,001 0 0 0 0 0 0 0 0 0 0 Foreign official 3,466 2 3,436 4 3 11 3 1 0 1 0 1 3 Other 367 6 192 3 1 125 0 33 1 0 1 0 3 Deferred availability cash items 2,596 63 0 224 785 67 269 153 48 326 112 131 417 Other liabilities and accrued dividends (15) 12,864 183 8,724 193 291 492 705 628 257 150 258 323 661 Total liabilities 2,197,972 51,022 1,139,325 69,253 48,085 272,252 146,204 113,688 40,050 21,911 49,194 69,488 177,500 Capital Capital paid in 25,668 944 7,442 2,802 1,921 7,140 1,600 619 240 712 208 352 1,688 Surplus 25,294 944 7,467 2,591 1,910 6,979 1,581 619 240 712 210 353 1,687 Other capital 1,408 25 656 0 71 0 164 141 48 22 61 61 158 Total liabilities and capital 2,250,343 52,936 1,154,890 74,647 51,988 286,371 149,548 115,067 40,578 23,358 49,672 70,254 181,034 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, January 27, 2010 (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 Jan 27, 2010 Federal Reserve notes outstanding 1,080,612 Less: Notes held by F.R. Banks not subject to collateralization 202,237 Federal Reserve notes to be collateralized 878,375 Collateral held against Federal Reserve notes 878,375 Gold certificate account 11,037 Special drawing rights certificate account 5,200 U.S. Treasury, agency debt, and mortgage-backed securities pledged (1,2) 862,139 Other assets pledged 0 Memo: Total U.S. Treasury, agency debt, and mortgage-backed securities (1,2) 1,910,020 Less: Face value of securities under reverse repurchase agreements 57,124 U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 1,852,895 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.