FEDERAL RESERVE statistical release H.4.1 Factors Affecting Reserve Balances of Depository Institutions and Condition Statement of Federal Reserve Banks November 26, 2010 1. Factors Affecting Reserve Balances of Depository Institutions Millions of dollars Reserve Bank credit, related items, and Averages of daily figures Wednesday reserve balances of depository institutions at Week ended Change from week ended Nov 24, 2010 Federal Reserve Banks Nov 24, 2010 Nov 17, 2010 Nov 25, 2009 Reserve Bank credit 2,317,457 + 24,277 + 127,469 2,328,427 Securities held outright (1) 2,078,354 + 24,218 + 293,325 2,087,219 U.S. Treasury securities 891,518 + 32,338 + 114,986 901,238 Bills (2) 18,423 0 0 18,423 Notes and bonds, nominal (2) 823,956 + 31,920 + 116,307 832,126 Notes and bonds, inflation-indexed (2) 43,479 + 386 - 1,164 44,876 Inflation compensation (3) 5,660 + 32 - 158 5,814 Federal agency debt securities (2) 148,761 - 626 - 4,864 148,178 Mortgage-backed securities (4) 1,038,075 - 7,494 + 183,203 1,037,803 Repurchase agreements (5) 0 0 0 0 Term auction credit 0 0 - 101,009 0 Other loans 46,332 - 233 - 62,152 46,685 Primary credit 158 + 133 - 19,774 1,039 Secondary credit 0 0 0 0 Seasonal credit 23 + 3 - 46 26 Asset-Backed Commercial Paper Money Market Mutual Fund Liquidity Facility 0 0 0 0 Credit extended to American International Group, Inc., net (6) 19,989 + 338 - 24,954 19,916 Term Asset-Backed Securities Loan Facility (7) 26,161 - 709 - 17,378 25,703 Other credit extensions 0 0 0 0 Net portfolio holdings of Commercial Paper Funding Facility LLC (8) 0 0 - 15,042 0 Net portfolio holdings of Maiden Lane LLC (9) 27,531 - 561 + 1,181 27,550 Net portfolio holdings of Maiden Lane II LLC (10) 16,286 + 5 + 509 16,291 Net portfolio holdings of Maiden Lane III LLC (11) 23,340 + 16 + 388 23,344 Net portfolio holdings of TALF LLC (12) 644 + 22 + 378 647 Preferred interests in AIA Aurora LLC and ALICO Holdings LLC (13) 26,057 0 + 26,057 26,057 Float -1,609 + 324 - 9 -1,832 Central bank liquidity swaps (14) 60 - 4 - 25,751 60 Other Federal Reserve assets (15) 100,464 + 491 + 9,597 102,406 Gold stock 11,041 0 0 11,041 Special drawing rights certificate account 5,200 0 0 5,200 Treasury currency outstanding (16) 43,511 + 14 + 887 43,511 Total factors supplying reserve funds 2,377,209 + 24,291 + 128,356 2,388,179 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 Wednesday reserve balances of depository institutions at Week ended Change from week ended Nov 24, 2010 Federal Reserve Banks Nov 24, 2010 Nov 17, 2010 Nov 25, 2009 Currency in circulation (16) 974,331 + 774 + 54,394 978,562 Reverse repurchase agreements (17) 56,878 + 2,133 - 1,247 54,709 Foreign official and international accounts 56,878 + 2,133 - 1,247 54,709 Others 0 0 0 0 Treasury cash holdings 193 + 25 - 40 197 Deposits with F.R. Banks, other than reserve balances 234,891 - 6,103 + 186,006 229,800 Term deposits held by depository institutions 0 0 0 0 U.S. Treasury, general account 29,391 + 7,604 + 3,487 24,037 U.S. Treasury, supplementary financing account 199,960 + 1 + 184,961 199,960 Foreign official 2,771 + 1,119 - 392 3,010 Service-related 2,366 0 - 670 2,366 Required clearing balances 2,366 0 - 670 2,366 Adjustments to compensate for float 0 0 0 0 Other 403 - 14,827 - 1,379 427 Funds from American International Group, Inc. asset dispositions, held as agent (18) 26,774 + 13 + 26,774 26,774 Other liabilities and capital (19) 73,051 + 146 + 7,643 72,627 Total factors, other than reserve balances, absorbing reserve funds 1,366,118 - 3,012 + 273,530 1,362,670 Reserve balances with Federal Reserve Banks 1,011,091 + 27,303 - 145,174 1,025,509 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 outstanding principal and capitalized interest net of unamortized deferred commitment fees and allowance for loan restructuring. Excludes credit extended to consolidated LLCs. 7. Includes credit extended by the Federal Reserve Bank of New York to eligible borrowers through the Term Asset-Backed Securities Loan Facility. 8. Includes the book value of the commercial paper, net of amortized costs and related fees, and other investments held by the Commercial Paper Funding Facility LLC. 9. Refer to table 4 and the note on consolidation accompanying table 10. 10. Refer to table 5 and the note on consolidation accompanying table 10. 11. Refer to table 6 and the note on consolidation accompanying table 10. 12. Refer to table 7 and the note on consolidation accompanying table 10. 13. Refer to table 8. 14. 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. 15. Includes other assets denominated in foreign currencies, which are revalued daily at market exchange rates, accrued dividends on the Federal Reserve Bank of New York's (FRBNY) preferred interests in AIA Aurora LLC and ALICO Holdings LLC, and the fair value adjustment to credit extended by the FRBNY to eligible borrowers through the Term Asset-Backed Securities Loan Facility. 16. Estimated. 17. Cash value of agreements, which are collateralized by U.S. Treasury securities, federal agency debt securities, and mortgage-backed securities. 18. Pending the closing of the recapitalization plan announced by American International Group, Inc. (AIG) on September 30, 2010, the cash proceeds from the disposition of certain AIG assets will be held by the FRBNY as agent. At the closing of the recapitalization plan, the proceeds will be used first to repay in full the credit extended to AIG by the FRBNY under the revolving credit facility and then to retire a portion of the FRBNY's preferred interests in AIA Aurora LLC and ALICO Holdings LLC (preferred interests). Alternatively, if the recapitalization plan is terminated under the terms of the plan, then the proceeds from the initial public offering of AIA and the sale of ALICO will be used to redeem the preferred interests in accordance with the AIA Aurora LLC and ALICO Holdings LLC limited liability company agreements, and any excess proceeds from these transactions, as well as proceeds from the disposition of other assets, will be used to repay the credit extended to AIG under the revolving credit facility. 19. Includes the liabilities of 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 7 and the note on consolidation accompanying table 10. Sources: Federal Reserve Banks and the U.S. Department of the Treasury. 1A. Memorandum Items Millions of dollars Averages of daily figures Wednesday Week ended Change from week ended Nov 24, 2010 Memorandum item Nov 24, 2010 Nov 17, 2010 Nov 25, 2009 Marketable securities held in custody for foreign official and international accounts (1) 3,341,417 + 504 + 416,116 3,336,459 U.S. Treasury securities 2,608,311 - 2,250 + 449,946 2,602,096 Federal agency securities (2) 733,106 + 2,754 - 33,831 734,363 Securities lent to dealers 8,471 + 3,504 + 2,310 7,426 Overnight facility (3) 8,471 + 3,504 + 2,310 7,426 U.S. Treasury securities 7,500 + 3,842 + 2,390 6,363 Federal agency debt securities 971 - 338 - 79 1,063 Term facility (4) 0 0 0 0 Note: Components may not sum to totals because of rounding. 1. Face value of the securities. Includes U.S. Treasury STRIPS and other zero-coupon bonds at face value and mortgage-backed securities at original 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 Securities, Loans, and Selected Other Assets and Liabilities, November 24, 2010 Millions of dollars Within 15 16 days to 91 days to Over 1 year Over 5 years Over 10 All Remaining maturity days 90 days 1 year to 5 years to 10 years years Other loans (1) 1,065 0 0 45,619 0 ... 46,685 U.S. Treasury securities (2) Holdings 16,386 17,188 54,509 387,219 276,741 149,195 901,238 Weekly changes - 3,520 + 3,520 0 + 7,974 + 17,536 + 2,109 + 27,620 Federal agency debt securities (3) Holdings 0 4,059 38,210 72,965 30,597 2,347 148,178 Weekly changes - 816 + 246 + 1,342 - 1,588 0 0 - 816 Mortgage-backed securities (4) Holdings 0 0 0 26 21 1,037,756 1,037,803 Weekly changes 0 0 0 0 0 - 475 - 475 Asset-backed securities held by TALF LLC (5) 0 0 0 0 0 0 0 Repurchase agreements (6) 0 0 ... ... ... ... 0 Central bank liquidity swaps (7) 60 0 0 0 0 0 60 Reverse repurchase agreements (6) 54,709 0 ... ... ... ... 54,709 Term deposits 0 0 0 ... ... ... 0 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 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 asset-backed securities held by TALF LLC, which is the remaining principal balance of the underlying assets. 6. Cash value of agreements. 7. 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 Nov 24, 2010 Mortgage-backed securities held outright (1) 1,037,803 Commitments to buy mortgage-backed securities (2) 0 Commitments to sell mortgage-backed securities (2) 0 Cash and cash equivalents (3) 0 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, dollar rolls, and coupon swaps. 3. This amount is included in other Federal Reserve assets in table 1 and in other assets in table 9 and table 10. 4. Information on Principal Accounts of Maiden Lane LLC Millions of dollars Wednesday Account name Nov 24, 2010 Net portfolio holdings of Maiden Lane LLC (1) 27,550 Outstanding principal amount of loan extended by the Federal Reserve Bank of New York (2) 25,975 Accrued interest payable to the Federal Reserve Bank of New York (2) 598 Outstanding principal amount and accrued interest on loan payable to JPMorgan Chase & Co. (3) 1,308 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, 2010. 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 10. 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 9 and table 10. 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 Nov 24, 2010 Net portfolio holdings of Maiden Lane II LLC (1) 16,291 Outstanding principal amount of loan extended by the Federal Reserve Bank of New York (2) 13,254 Accrued interest payable to the Federal Reserve Bank of New York (2) 435 Deferred payment and accrued interest payable to subsidiaries of American International Group, Inc. (3) 1,068 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, 2010. 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 10. 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 9 and table 10. 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 Nov 24, 2010 Net portfolio holdings of Maiden Lane III LLC (1) 23,344 Outstanding principal amount of loan extended by the Federal Reserve Bank of New York (2) 13,922 Accrued interest payable to the Federal Reserve Bank of New York (2) 528 Outstanding principal amount and accrued interest on loan payable to American International Group, Inc. (3) 5,348 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, 2010. 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 10. 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 9 and table 10. 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 TALF LLC Millions of dollars Wednesday Account name Nov 24, 2010 Asset-backed securities holdings (1) 0 Other investments, net 647 Net portfolio holdings of TALF LLC 647 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) 106 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 10. 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 9 and table 10. 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 $4.3 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. 8. 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 Nov 24, 2010 Preferred interests in AIA Aurora LLC and ALICO Holdings LLC (1) 26,057 Accrued dividends on preferred interests in AIA Aurora LLC and ALICO Holdings LLC (2) 200 Preferred interests in AIA Aurora LLC (1) 16,676 Accrued dividends on preferred interests in AIA Aurora LLC (2) 128 Preferred interests in ALICO Holdings LLC (1) 9,380 Accrued dividends on preferred interests in ALICO Holdings LLC (2) 72 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 9 and table 10. 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. 9. Consolidated Statement of Condition of All Federal Reserve Banks Millions of dollars Eliminations from Wednesday Change since consolidation Nov 24, 2010 Wednesday Wednesday Assets, liabilities, and capital Nov 17, 2010 Nov 25, 2009 Assets Gold certificate account 11,037 0 0 Special drawing rights certificate account 5,200 0 0 Coin 2,091 - 33 + 75 Securities, repurchase agreements, term auction credit, and other loans 2,133,903 + 26,010 + 139,590 Securities held outright (1) 2,087,219 + 26,329 + 303,493 U.S. Treasury securities 901,238 + 27,620 + 124,703 Bills (2) 18,423 0 0 Notes and bonds, nominal (2) 832,126 + 25,808 + 124,477 Notes and bonds, inflation-indexed (2) 44,876 + 1,629 + 233 Inflation compensation (3) 5,814 + 183 - 7 Federal agency debt securities (2) 148,178 - 816 - 6,888 Mortgage-backed securities (4) 1,037,803 - 475 + 185,679 Repurchase agreements (5) 0 0 0 Term auction credit 0 0 - 101,009 Other loans 46,685 - 318 - 62,893 Net portfolio holdings of Commercial Paper Funding Facility LLC (6) 0 0 - 15,046 Net portfolio holdings of Maiden Lane LLC (7) 27,550 + 22 + 1,189 Net portfolio holdings of Maiden Lane II LLC (8) 16,291 + 6 + 446 Net portfolio holdings of Maiden Lane III LLC (9) 23,344 + 5 + 383 Net portfolio holdings of TALF LLC (10) 647 + 25 + 381 Preferred interests in AIA Aurora LLC and ALICO Holdings LLC (11) 26,057 0 + 26,057 Items in process of collection (96) 243 - 106 - 396 Bank premises 2,226 + 1 0 Central bank liquidity swaps (12) 60 - 5 - 25,751 Other assets (13) 100,138 + 5,147 + 12,291 Total assets (96) 2,348,788 + 31,072 + 139,221 Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table. 9. Consolidated Statement of Condition of All Federal Reserve Banks (continued) Millions of dollars Eliminations from Wednesday Change since consolidation Nov 24, 2010 Wednesday Wednesday Assets, liabilities, and capital Nov 17, 2010 Nov 25, 2009 Liabilities Federal Reserve notes, net of F.R. Bank holdings 937,336 + 4,959 + 54,302 Reverse repurchase agreements (14) 54,709 + 510 - 3,774 Deposits (0) 1,255,266 + 25,607 + 54,531 Term deposits held by depository institutions 0 0 0 Other deposits held by depository institutions 1,027,832 + 38,966 - 140,738 U.S. Treasury, general account 24,037 - 14,668 + 11,040 U.S. Treasury, supplementary financing account 199,960 + 1 + 184,961 Foreign official 3,010 + 1,269 + 884 Other (0) 427 + 40 - 1,615 Deferred availability cash items (96) 2,076 - 233 - 205 Other liabilities and accrued dividends (15) 42,638 - 222 + 30,418 Total liabilities (96) 2,292,025 + 30,621 + 135,271 Capital accounts Capital paid in 26,792 + 53 + 1,369 Surplus 25,921 + 6 + 4,481 Other capital accounts 4,050 + 392 - 1,901 Total capital 56,763 + 451 + 3,949 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. Includes the book value of the commercial paper, net of amortized costs and related fees, and other investments held by the Commercial Paper Funding Facility LLC. 7. Refer to table 4 and the note on consolidation accompanying table 10. 8. Refer to table 5 and the note on consolidation accompanying table 10. 9. Refer to table 6 and the note on consolidation accompanying table 10. 10. Refer to table 7 and the note on consolidation accompanying table 10. 11. Refer to table 8. 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, accrued dividends on the Federal Reserve Bank of New York's (FRBNY) preferred interests in AIA Aurora LLC and ALICO Holdings LLC, and the fair value adjustment to credit extended by the FRBNY to eligible borrowers through the Term Asset-Backed Securities Loan Facility. 14. Cash value of agreements, which are collateralized by U.S. Treasury securities, federal agency debt securities, and mortgage-backed securities. 15. Includes the liabilities of 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 7 and the note on consolidation accompanying table 10. Also includes funds from American International Group, Inc. asset dispositions, held as agent. 10. Statement of Condition of Each Federal Reserve Bank, November 24, 2010 Millions of dollars Total Boston New York Philadelphia Cleveland Richmond Atlanta Chicago St. Louis Minneapolis Kansas Dallas San Assets, liabilities, and capital City Francisco Assets Gold certificate account 11,037 369 4,038 404 463 846 1,385 887 324 203 296 652 1,170 Special drawing rights certificate acct. 5,200 196 1,818 210 237 412 654 424 150 90 153 282 574 Coin 2,091 59 70 167 154 329 180 325 30 57 151 224 344 Securities, repurchase agreements, term auction credit, and other loans 2,133,903 52,830 897,315 48,745 70,915 237,712 197,509 157,362 54,780 28,587 71,606 87,646 228,897 Securities held outright (1) 2,087,219 52,821 851,696 48,743 70,915 237,712 197,509 157,348 53,763 28,574 71,600 87,643 228,897 U.S. Treasury securities 901,238 22,807 367,753 21,047 30,620 102,641 85,282 67,941 23,214 12,338 30,916 37,843 98,835 Bills (2) 18,423 466 7,517 430 626 2,098 1,743 1,389 475 252 632 774 2,020 Notes and bonds (3) 882,815 22,341 360,235 20,616 29,994 100,543 83,539 66,552 22,740 12,086 30,284 37,070 96,815 Federal agency debt securities (2) 148,178 3,750 60,464 3,460 5,034 16,876 14,022 11,171 3,817 2,029 5,083 6,222 16,250 Mortgage-backed securities (4) 1,037,803 26,263 423,479 24,236 35,260 118,195 98,205 78,236 26,732 14,207 35,601 43,578 113,812 Repurchase agreements (5) 0 0 0 0 0 0 0 0 0 0 0 0 0 Term auction credit 0 0 0 0 0 0 0 0 0 0 0 0 0 Other loans 46,685 10 45,619 2 0 0 0 14 1,017 13 6 3 0 Net portfolio holdings of Commercial Paper Funding Facility LLC (6) 0 0 0 0 0 0 0 0 0 0 0 0 0 Net portfolio holdings of Maiden Lane LLC (7) 27,550 0 27,550 0 0 0 0 0 0 0 0 0 0 Net portfolio holdings of Maiden Lane II LLC (8) 16,291 0 16,291 0 0 0 0 0 0 0 0 0 0 Net portfolio holdings of Maiden Lane III LLC (9) 23,344 0 23,344 0 0 0 0 0 0 0 0 0 0 Net portfolio holdings of TALF LLC (10) 647 0 647 0 0 0 0 0 0 0 0 0 0 Preferred interests in AIA Aurora LLC and ALICO Holdings LLC (11) 26,057 0 26,057 0 0 0 0 0 0 0 0 0 0 Items in process of collection 339 12 0 77 78 8 16 39 15 7 21 34 32 Bank premises 2,226 128 255 69 141 239 218 210 135 108 265 246 213 Central bank liquidity swaps (12) 60 2 17 7 4 17 4 1 1 2 0 1 4 Other assets (13) 100,138 2,845 37,891 4,669 4,434 15,623 8,580 6,167 2,152 1,753 2,750 3,475 9,798 Interdistrict settlement account 0 - 3,528 + 150,486 + 22,146 - 15,790 - 34,843 - 41,985 - 30,324 - 15,232 - 3,489 - 12,409 + 45 - 15,078 Total assets 2,348,885 52,914 1,185,781 76,494 60,637 220,342 166,561 135,092 42,355 27,316 62,834 92,605 225,954 Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table. 10. Statement of Condition of Each Federal Reserve Bank, November 24, 2010 (continued) Millions of dollars Total Boston New York Philadelphia Cleveland Richmond Atlanta Chicago St. Louis Minneapolis Kansas Dallas San Assets, liabilities, and capital City Francisco Liabilities Federal Reserve notes outstanding 1,126,073 41,150 385,631 45,612 45,837 89,618 142,815 86,939 32,599 20,105 33,483 76,246 126,036 Less: Notes held by F.R. Banks 188,736 4,256 73,213 5,012 7,051 12,961 23,701 11,606 4,287 5,656 3,203 11,028 26,762 Federal Reserve notes, net 937,336 36,893 312,418 40,600 38,787 76,657 119,114 75,333 28,312 14,449 30,280 65,218 99,274 Reverse repurchase agreements (14) 54,709 1,385 22,324 1,278 1,859 6,231 5,177 4,124 1,409 749 1,877 2,297 6,000 Deposits 1,255,266 12,471 795,995 28,463 15,318 123,957 38,385 53,622 11,897 9,977 29,883 23,873 111,426 Term deposits held by depository institutions 0 0 0 0 0 0 0 0 0 0 0 0 0 Other deposits held by depository institutions 1,027,832 12,447 568,752 28,459 15,315 123,846 38,382 53,604 11,893 9,973 29,881 23,872 111,408 U.S. Treasury, general account 24,037 0 24,037 0 0 0 0 0 0 0 0 0 0 U.S. Treasury, supplementary financing account 199,960 0 199,960 0 0 0 0 0 0 0 0 0 0 Foreign official 3,010 1 2,981 4 3 11 2 1 0 1 0 1 3 Other 427 22 264 0 1 101 0 16 3 3 1 0 15 Deferred availability cash items 2,172 74 0 230 518 86 110 151 61 358 106 97 381 Other liabilities and accrued dividends (15) 42,638 195 38,989 249 264 725 500 402 180 143 178 255 557 Total liabilities 2,292,121 51,018 1,169,727 70,820 56,745 207,657 163,285 133,632 41,859 25,677 62,324 91,740 217,638 Capital Capital paid in 26,792 916 7,678 2,863 1,928 5,439 1,555 671 214 819 227 400 4,080 Surplus 25,921 946 7,715 2,804 1,911 7,141 1,581 621 239 712 210 353 1,688 Other capital 4,050 34 660 6 53 104 140 168 43 109 73 112 2,549 Total liabilities and capital 2,348,885 52,914 1,185,781 76,494 60,637 220,342 166,561 135,092 42,355 27,316 62,834 92,605 225,954 Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table. 10. Statement of Condition of Each Federal Reserve Bank, November 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. Includes the book value of the commercial paper, net of amortized costs and related fees, and other investments held by the Commercial Paper Funding Facility LLC. 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 7 and the note on consolidation below. 11. Refer to table 8. 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, accrued dividends on the Federal Reserve Bank of New York's (FRBNY) preferred interests in AIA Aurora LLC and ALICO Holdings LLC, and the fair value adjustment to credit extended by the FRBNY to eligible borrowers through the Term Asset-Backed Securities Loan Facility. 14. Cash value of agreements, which are collateralized by U.S. Treasury securities, federal agency debt securities, and mortgage-backed securities. 15. Includes the liabilities of 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 7 and the note on consolidation below. Also includes funds from American International Group, Inc. asset dispositions, held as agent. 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 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 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 9), 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 9). 11. Collateral Held against Federal Reserve Notes: Federal Reserve Agents' Accounts Millions of dollars Wednesday Federal Reserve notes and collateral Nov 24, 2010 Federal Reserve notes outstanding 1,126,073 Less: Notes held by F.R. Banks not subject to collateralization 188,736 Federal Reserve notes to be collateralized 937,336 Collateral held against Federal Reserve notes 937,336 Gold certificate account 11,037 Special drawing rights certificate account 5,200 U.S. Treasury, agency debt, and mortgage-backed securities pledged (1,2) 921,099 Other assets pledged 0 Memo: Total U.S. Treasury, agency debt, and mortgage-backed securities (1,2) 2,087,219 Less: Face value of securities under reverse repurchase agreements 48,877 U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 2,038,342 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.