Federal Reserve Statistical Release, H.4.1, Factors Affecting Reserve Balances; title with eagle logo links to Statistical Release home page
Release Date:   March 25, 2010
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FEDERAL RESERVE statistical release

H.4.1

Factors Affecting Reserve Balances of Depository Institutions and
Condition Statement of Federal Reserve Banks

March 25, 2010
1. Factors Affecting Reserve Balances of Depository Institutions
Millions of dollars
Reserve Bank credit, related items, and
reserve balances of depository institutions at
Federal Reserve Banks		 Averages of daily figures Wednesday
Mar 24, 2010
Week ended
Mar 24, 2010		 Change from week ended
Mar 17, 2010 Mar 25, 2009
Reserve Bank credit 2,297,835 + 5,374 + 246,857 2,295,722
    Securities held outright 1 2,017,660 + 6,161 +1,257,168 2,017,955
        U.S. Treasury securities 776,653 + 38 + 301,922 776,667
            Bills 2 18,423 0 0 18,423
            Notes and bonds, nominal 2 708,872 0 + 295,958 708,872
            Notes and bonds, inflation-indexed 2 43,777 0 + 4,399 43,777
            Inflation compensation 3 5,581 + 38 + 1,564 5,595
        Federal agency debt securities 2 167,488 - 564 + 118,692 167,488
        Mortgage-backed securities 4 1,073,519 + 6,687 + 836,555 1,073,800
    Repurchase agreements 5 0 0 0 0
    Term auction credit 3,410 0 - 465,179 3,410
    Other loans 84,511 - 809 - 49,829 82,249
        Primary credit 10,750 - 739 - 52,032 8,955
        Secondary credit 600 0 + 600 600
        Seasonal credit 6 - 3 + 3 5
        Primary dealer and other broker-dealer credit 6 0 0 - 20,089 0
        Asset-Backed Commercial Paper Money Market
            Mutual Fund Liquidity Facility		 0 0 - 7,179 0
        Credit extended to American International
            Group, Inc., net 7		 25,183 + 200 - 18,431 25,259
        Term Asset-Backed Securities Loan Facility, net 8 47,972 - 267 + 47,299 47,430
        Other credit extensions 0 0 0 0
    Net portfolio holdings of Commercial Paper
        Funding Facility LLC 9		 7,767 + 8 - 233,035 7,776
    Net portfolio holdings of Maiden Lane LLC 10 27,291 + 21 + 1,068 27,317
    Net portfolio holdings of Maiden Lane II LLC 11 15,339 + 7 - 3,101 15,343
    Net portfolio holdings of Maiden Lane III LLC 12 22,136 + 16 - 5,495 22,142
    Net portfolio holdings of TALF LLC 13 400 + 28 + 400 404
    Preferred interests in AIA Aurora LLC and ALICO
        Holdings LLC 14		 25,106 0 + 25,106 25,106
    Float -1,620 + 210 + 532 -1,960
    Central bank liquidity swaps 15 0 0 - 327,692 0
    Other Federal Reserve assets 16 95,836 - 267 + 46,916 95,980
Gold stock 11,041 0 0 11,041
Special drawing rights certificate account 5,200 0 + 3,000 5,200
Treasury currency outstanding 17 42,825 + 14 + 574 42,825
 
Total factors supplying reserve funds 2,356,901 + 5,388 + 250,431 2,354,788
Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table.


1. Factors Affecting Reserve Balances of Depository Institutions (continued)
Millions of dollars
Reserve Bank credit, related items, and
reserve balances of depository institutions at
Federal Reserve Banks		 Averages of daily figures Wednesday
Mar 24, 2010
Week ended
Mar 24, 2010		 Change from week ended
Mar 17, 2010 Mar 25, 2009
Currency in circulation 17 932,694 - 154 + 30,670 933,542
Reverse repurchase agreements 18 56,412 + 163 - 8,766 54,719
    Foreign official and international accounts 56,412 + 163 - 8,766 54,719
    Dealers 0 0 0 0
Treasury cash holdings 218 + 15 - 92 224
Deposits with F.R. Banks, other than reserve balances 173,085 + 4,681 - 114,567 155,830
    U.S. Treasury, general account 67,603 + 15,436 - 10,480 50,104
    U.S. Treasury, supplementary financing account 99,983 + 24,995 - 99,952 99,983
    Foreign official 2,417 - 333 + 554 2,420
    Service-related 2,693 0 - 1,771 2,693
        Required clearing balances 2,693 0 - 1,771 2,693
        Adjustments to compensate for float 0 0 0 0
    Other 388 - 35,418 - 2,919 629
Other liabilities and capital 19 67,068 - 1,387 + 11,471 65,742
 
Total factors, other than reserve balances,
    absorbing reserve funds		 1,229,477 + 3,319 - 81,284 1,210,056
 
Reserve balances with Federal Reserve Banks 1,127,424 + 2,069 + 331,715 1,144,732
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
Memorandum item Averages of daily figures Wednesday
Mar 24, 2010
Week ended
Mar 24, 2010		 Change from week ended
Mar 17, 2010 Mar 25, 2009
Marketable securities held in custody for foreign
    official and international accounts 1		 3,012,512 + 15,819 + 417,788 3,014,101
    U.S. Treasury securities 2,239,871 + 13,271 + 456,905 2,240,857
    Federal agency securities 2 772,641 + 2,548 - 39,117 773,243
Securities lent to dealers 4,199 - 1,023 - 89,208 3,748
    Overnight facility 3 4,199 - 1,023 + 1,057 3,748
        U.S. Treasury securities 3,214 - 1,047 + 72 2,597
        Federal agency debt securities 985 + 24 + 985 1,151
    Term facility 4 0 0 - 90,264 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, March 24, 2010
Millions of dollars
Remaining maturity Within 15
days		 16 days to
90 days		 91 days to
1 year		 Over 1 year
to 5 years		 Over 5 years
to 10 years		 Over 10
years		 All
Term auction credit 3,410 0 ... ... ... ... 3,410
Other loans 1 9,146 414 0 72,689 0 ... 82,249
U.S. Treasury securities 2  
    Holdings 18,633 22,190 43,618 333,977 214,323 143,926 776,667
    Weekly changes + 2,157 - 2,153 + 1 + 10 + 9 + 15 + 38
Federal agency debt securities 3  
    Holdings 0 3,374 33,119 94,118 34,530 2,347 167,488
    Weekly changes 0 + 592 + 6,907 - 7,499 0 0 0
Mortgage-backed securities 4  
    Holdings 0 0 0 34 21 1,073,746 1,073,800
    Weekly changes 0 0 0 + 3 0 + 7,358 + 7,360
Commercial paper held by
    Commercial Paper Funding
    Facility LLC 5		 0 2,966 0 ... ... ... 2,966
Asset-backed securities held by
    TALF LLC 6		 0 0 0 0 0 0 0
Repurchase agreements 7 0 0 ... ... ... ... 0
   
Reverse repurchase agreements 7 54,719 0 ... ... ... ... 54,719
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.

3. Supplemental Information on Mortgage-Backed Securities Purchase Program
Millions of dollars
Account name Wednesday
Mar 24, 2010
Mortgage-backed securities held outright 1 1,073,800
 
Commitments to buy mortgage-backed securities 2 97,955
Commitments to sell mortgage-backed securities 2 0
 
Cash and cash equivalents 3 129
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
Account name Wednesday
Mar 24, 2010
Net portfolio holdings of Maiden Lane LLC 1 27,317
 
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 2 453
Outstanding principal amount and accrued interest on loan payable to JPMorgan Chase & Co. 3 1,263
1. 
Fair value. Fair value reflects an estimate of the price that would be received upon selling an asset if the transaction were to be conducted in an orderly market on the measurement date. Revalued quarterly. This table reflects valuations as of December 31, 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
Account name Wednesday
Mar 24, 2010
Net portfolio holdings of Maiden Lane II LLC 1 15,343
 
Outstanding principal amount of loan extended by the Federal Reserve Bank of New York 2 14,970
Accrued interest payable to the Federal Reserve Bank of New York 2 309
Deferred payment and accrued interest payable to subsidiaries of American International Group, Inc. 3 1,044
1. 
Fair value. Fair value reflects an estimate of the price that would be received upon selling an asset if the transaction were to be conducted in an orderly market on the measurement date. Revalued quarterly. This table reflects valuations as of December 31, 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
Account name Wednesday
Mar 24, 2010
Net portfolio holdings of Maiden Lane III LLC 1 22,142
 
Outstanding principal amount of loan extended by the Federal Reserve Bank of New York 2 16,929
Accrued interest payable to the Federal Reserve Bank of New York 2 390
Outstanding principal amount and accrued interest on loan payable to American International Group, Inc. 3 5,231
1. 
Fair value. Fair value reflects an estimate of the price that would be received upon selling an asset if the transaction were to be conducted in an orderly market on the measurement date. Revalued quarterly. This table reflects valuations as of December 31, 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
Account name Wednesday
Mar 24, 2010
Commercial paper holdings, net 1 2,903
Other investments, net 4,873
Net portfolio holdings of Commercial Paper Funding Facility LLC 7,776
 
Memorandum: Commercial paper holdings, face value 2,966
 
Outstanding principal amount of loan extended by the Federal Reserve Bank of New York 2 2,942
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
Account name Wednesday
Mar 24, 2010
Asset-backed securities holdings 1 0
Other investments, net 404
Net portfolio holdings of TALF LLC 404
 
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
Account name Wednesday
Mar 24, 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 2 285
 
Preferred interests in AIA Aurora LLC 1 16,068
Accrued dividends on preferred interests in AIA Aurora LLC 2 183
 
Preferred interests in ALICO Holdings LLC 1 9,038
Accrued dividends on preferred interests in ALICO Holdings LLC 2 103
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
Assets, liabilities, and capital Eliminations from
consolidation		 Wednesday
Mar 24, 2010		 Change since
Wednesday
Mar 17, 2010		 Wednesday
Mar 25, 2009
Assets  
Gold certificate account   11,037 0 0
Special drawing rights certificate account   5,200 0 + 3,000
Coin   2,098 - 16 + 266
Securities, repurchase agreements, term auction
    credit, and other loans		   2,103,614 + 4,543 + 737,502
    Securities held outright 1   2,017,955 + 7,399 +1,256,660
        U.S. Treasury securities   776,667 + 38 + 301,921
            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   5,595 + 38 + 1,563
        Federal agency debt securities 2   167,488 0 + 117,095
        Mortgage-backed securities 4   1,073,800 + 7,360 + 837,644
    Repurchase agreements 5   0 0 0
    Term auction credit   3,410 0 - 465,179
    Other loans   82,249 - 2,856 - 53,978
Net portfolio holdings of Commercial Paper
    Funding Facility LLC 6		   7,776 + 12 - 233,535
Net portfolio holdings of Maiden Lane LLC 7   27,317 + 31 + 1,029
Net portfolio holdings of Maiden Lane II LLC 8   15,343 + 5 - 3,106
Net portfolio holdings of Maiden Lane III LLC 9   22,142 + 7 - 5,503
Net portfolio holdings of TALF LLC 10   404 + 32 + 404
Preferred interests in AIA Aurora LLC and ALICO
    Holdings LLC 11		   25,106 0 + 25,106
Items in process of collection (49) 185 - 158 - 283
Bank premises   2,239 0 + 52
Central bank liquidity swaps 12   0 0 - 327,778
Other assets 13   94,064 + 690 + 46,145
 
Total assets (49) 2,316,525 + 5,146 + 243,298
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
Assets, liabilities, and capital Eliminations from
consolidation		 Wednesday
Mar 24, 2010		 Change since
Wednesday
Mar 17, 2010		 Wednesday
Mar 25, 2009
Liabilities  
Federal Reserve notes, net of F.R. Bank holdings   893,035 - 230 + 29,941
Reverse repurchase agreements 14   54,719 - 977 - 11,708
Deposits (0) 1,300,884 + 7,319 + 215,624
    Depository institutions   1,147,747 + 29,657 + 325,335
    U.S. Treasury, general account   50,104 - 47,325 - 6,094
    U.S. Treasury, supplementary financing account   99,983 + 24,995 - 99,952
    Foreign official   2,420 - 326 + 833
    Other (0) 629 + 318 - 4,499
Deferred availability cash items (49) 2,145 - 191 - 716
Other liabilities and accrued dividends 15   12,704 - 233 + 3,302
 
Total liabilities (49) 2,263,487 + 5,688 + 236,442
 
Capital accounts  
Capital paid in   26,247 + 26 + 3,691
Surplus   25,321 - 178 + 4,173
Other capital accounts   1,469 - 391 - 1,009
 
Total capital   53,037 - 543 + 6,855
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, March 24, 2010
Millions of dollars
Assets, liabilities, and capital Total Boston New York Philadelphia Cleveland Richmond Atlanta Chicago St. Louis Minneapolis Kansas
City		 Dallas San
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 2,098 74 81 168 155 312 195 327 27 66 144 204 345
Securities, repurchase agreements, term
    auction credit, and other loans		 2,103,614 38,728 872,203 31,383 79,799 72,892 243,294 218,745 79,085 33,431 91,094 97,977 244,982
    Securities held outright 1 2,017,955 38,711 788,769 31,307 79,725 72,721 243,136 218,364 79,056 33,408 91,089 97,571 244,098
        U.S. Treasury securities 776,667 14,899 303,580 12,049 30,685 27,989 93,578 84,044 30,427 12,858 35,058 37,553 93,948
            Bills 2 18,423 353 7,201 286 728 664 2,220 1,994 722 305 832 891 2,228
            Notes and bonds 3 758,244 14,545 296,379 11,763 29,957 27,325 91,358 82,050 29,705 12,553 34,226 36,662 91,720
        Federal agency debt securities 2 167,488 3,213 65,467 2,598 6,617 6,036 20,180 18,124 6,562 2,773 7,560 8,098 20,260
        Mortgage-backed securities 4 1,073,800 20,599 419,722 16,659 42,424 38,697 129,378 116,197 42,067 17,777 48,470 51,920 129,890
    Repurchase agreements 5 0 0 0 0 0 0 0 0 0 0 0 0 0
    Term auction credit 3,410 0 1,845 20 74 160 125 294 28 5 5 0 854
    Other loans 82,249 18 81,589 56 0 11 33 87 1 18 1 406 30
Net portfolio holdings of Commercial
    Paper Funding Facility LLC 6		 7,776 0 7,776 0 0 0 0 0 0 0 0 0 0
Net portfolio holdings of Maiden
    Lane LLC 7		 27,317 0 27,317 0 0 0 0 0 0 0 0 0 0
Net portfolio holdings of Maiden
    Lane II LLC 8		 15,343 0 15,343 0 0 0 0 0 0 0 0 0 0
Net portfolio holdings of Maiden
    Lane III LLC 9		 22,142 0 22,142 0 0 0 0 0 0 0 0 0 0
Net portfolio holdings of TALF LLC 10 404 0 404 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 234 12 0 27 78 4 -17 15 3 43 23 23 22
Bank premises 2,239 121 260 70 143 238 220 209 136 110 267 252 213
Central bank liquidity swaps 12 0 0 0 0 0 0 0 0 0 0 0 0 0
Other assets 13 94,064 2,260 34,453 3,811 4,552 9,451 9,800 8,002 2,936 1,845 3,312 3,689 9,954
Interdistrict settlement account 0 + 7,425 + 114,153 + 45,514 - 20,483 + 214,471 - 97,340 - 102,637 - 41,477 - 8,662 - 38,799 - 28,356 - 43,808
 
Total assets 2,316,574 49,230 1,124,951 81,634 64,947 298,662 158,162 125,995 41,188 27,119 56,530 74,691 213,464
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, March 24, 2010 (continued)
Millions of dollars
Assets, liabilities, and capital Total Boston New York Philadelphia Cleveland Richmond Atlanta Chicago St. Louis Minneapolis Kansas
City		 Dallas San
Francisco
Liabilities  
Federal Reserve notes outstanding 1,079,061 35,069 391,998 38,433 44,476 83,380 137,820 86,294 32,412 19,947 28,407 65,557 115,268
    Less: Notes held by F.R. Banks 186,025 4,416 62,981 5,639 8,467 10,696 33,188 11,871 4,202 2,944 3,252 12,962 25,408
        Federal Reserve notes, net 893,035 30,653 329,017 32,794 36,010 72,684 104,632 74,423 28,210 17,004 25,154 52,595 89,860
Reverse repurchase agreements 14 54,719 1,050 21,388 849 2,162 1,972 6,593 5,921 2,144 906 2,470 2,646 6,619
Deposits 1,300,884 15,424 750,402 42,050 22,085 211,105 42,795 43,479 10,015 7,297 28,084 18,085 110,062
    Depository institutions 1,147,747 15,416 597,706 42,045 22,081 211,040 42,792 43,471 10,014 7,296 28,083 18,085 109,717
    U.S. Treasury, general account 50,104 0 50,104 0 0 0 0 0 0 0 0 0 0
    U.S. Treasury, supplementary
        financing account		 99,983 0 99,983 0 0 0 0 0 0 0 0 0 0
    Foreign official 2,420 1 2,392 4 3 11 2 1 0 1 0 1 3
    Other 629 6 217 1 1 54 0 7 1 0 1 0 342
Deferred availability cash items 2,194 53 0 177 571 71 132 142 48 327 91 176 405
Other liabilities and accrued
    dividends 15		 12,704 188 8,548 217 298 542 676 594 248 154 249 313 678
 
Total liabilities 2,263,536 47,368 1,109,355 76,087 61,125 286,374 154,827 124,558 40,665 25,688 56,049 73,814 207,624
 
Capital  
Capital paid in 26,247 914 7,563 2,945 1,898 5,344 1,596 645 234 712 209 407 3,782
Surplus 25,321 945 7,518 2,601 1,910 6,945 1,581 620 240 712 210 353 1,687
Other capital 1,469 3 515 0 14 0 158 172 49 7 62 117 371
 
Total liabilities and capital 2,316,574 49,230 1,124,951 81,634 64,947 298,662 158,162 125,995 41,188 27,119 56,530 74,691 213,464
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, March 24, 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
Mar 24, 2010
Federal Reserve notes outstanding 1,079,061
    Less: Notes held by F.R. Banks not subject to collateralization 186,025
        Federal Reserve notes to be collateralized 893,035
Collateral held against Federal Reserve notes 893,035
    Gold certificate account 11,037
    Special drawing rights certificate account 5,200
    U.S. Treasury, agency debt, and mortgage-backed securities pledged 1,2 876,798
    Other assets pledged 0
Memo:  
Total U.S. Treasury, agency debt, and mortgage-backed securities 1,2 2,017,955
    Less: Face value of securities under reverse repurchase agreements 54,245
        U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 1,963,710
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.

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Last update: March 25, 2010