Federal Reserve Statistical Release, H.4.1, Factors Affecting Reserve Balances; title with eagle logo links to Statistical Release home page
Release Date:   June 16, 2011
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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

June 16, 2011
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
Jun 15, 2011
Week ended
Jun 15, 2011
Change from week ended
Jun 8, 2011 Jun 16, 2010
Reserve Bank credit 2,809,746 + 25,455 + 487,552 2,811,457
    Securities held outright 1 2,605,229 + 23,576 + 540,724 2,608,810
        U.S. Treasury securities 1,568,863 + 24,158 + 791,919 1,575,939
            Bills 2 18,423 0 0 18,423
            Notes and bonds, nominal 2 1,478,669 + 22,670 + 766,646 1,485,706
            Notes and bonds, inflation-indexed 2 63,370 + 1,235 + 22,245 63,370
            Inflation compensation 3 8,401 + 254 + 3,028 8,441
        Federal agency debt securities 2 118,989 - 104 - 47,581 118,365
        Mortgage-backed securities 4 917,377 - 479 - 203,614 914,506
    Repurchase agreements 5 0 0 0 0
    Loans 13,282 - 204 - 57,087 13,232
        Primary credit 24 - 13 - 80 52
        Secondary credit 0 0 - 279 0
        Seasonal credit 39 + 4 - 15 39
        Credit extended to American International
            Group, Inc., net 6
0 0 - 26,342 0
        Term Asset-Backed Securities Loan Facility 7 13,219 - 196 - 30,373 13,141
        Other credit extensions 0 0 0 0
    Net portfolio holdings of Commercial Paper
        Funding Facility LLC 8
0 0 - 1 0
    Net portfolio holdings of Maiden Lane LLC 9 24,358 - 182 - 4,039 23,769
    Net portfolio holdings of Maiden Lane II LLC 10 12,528 - 2 - 3,166 12,507
    Net portfolio holdings of Maiden Lane III LLC 11 24,411 + 10 + 1,241 24,230
    Net portfolio holdings of TALF LLC 12 746 0 + 268 746
    Preferred interests in AIA Aurora LLC and ALICO
        Holdings LLC 6
0 0 - 25,416 0
    Float -1,124 + 81 + 571 -1,365
    Central bank liquidity swaps 13 0 0 - 1,242 0
    Other Federal Reserve assets 14 130,317 + 2,178 + 35,699 129,528
Gold stock 11,041 0 0 11,041
Special drawing rights certificate account 5,200 0 0 5,200
Treasury currency outstanding 15 43,930 + 14 + 758 43,930
 
Total factors supplying reserve funds 2,869,917 + 25,470 + 488,310 2,871,628
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
Jun 15, 2011
Week ended
Jun 15, 2011
Change from week ended
Jun 8, 2011 Jun 16, 2010
Currency in circulation 15 1,022,900 - 1,264 + 82,566 1,024,047
Reverse repurchase agreements 16 64,145 + 2,357 + 2,097 68,179
    Foreign official and international accounts 62,952 + 1,164 + 904 65,929
    Others 1,193 + 1,193 + 1,193 2,250
Treasury cash holdings 135 + 2 - 77 132
Deposits with F.R. Banks, other than reserve balances 58,230 + 5,543 - 180,406 139,590
    Term deposits held by depository institutions 5,087 0 + 5,087 5,087
    U.S. Treasury, general account 41,336 + 3,148 + 12,137 126,428
    U.S. Treasury, supplementary financing account 5,000 0 - 194,962 5,000
    Foreign official 132 + 6 - 1,562 131
    Service-related 2,541 - 1 - 7 2,541
        Required clearing balances 2,541 - 1 - 7 2,541
        Adjustments to compensate for float 0 0 0 0
    Other 4,133 + 2,389 - 1,100 404
Funds from American International Group, Inc. asset
    dispositions, held as agent 6
0 0 0 0
Other liabilities and capital 17 74,306 - 405 + 369 72,981
 
Total factors, other than reserve balances,
    absorbing reserve funds
1,219,715 + 6,233 - 95,452 1,304,929
 
Reserve balances with Federal Reserve Banks 1,650,202 + 19,237 + 583,761 1,566,698
Note: Components may not sum to totals because of rounding.


1. 
Includes securities lent to dealers under the overnight securities lending facility; 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. 
As a result of the closing of the American International Group, Inc. (AIG) recapitalization plan on January 14, 2011, the credit extended to AIG was fully repaid and the Federal Reserve's commitment to lend any further funds was terminated. In addition, the Federal Reserve Bank of New York (FRBNY) has been paid in full for its preferred interests in AIA Aurora LLC and ALICO Holdings LLC. The funds from AIG asset dispositions that FRBNY held as agent were the source of repayment of the credit extended to AIG, as well as a portion of the FRBNY's preferred interests in ALICO Holdings LLC. The remaining FRBNY preferred interests in ALICO Holdings LLC and AIA Aurora LLC, valued at approximately $20 billion, were purchased by AIG through a draw on the Treasury's Series F preferred stock commitment and then transferred by AIG to the Treasury as consideration for the draw on the available Series F funds.
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 9.
10. 
Refer to table 5 and the note on consolidation accompanying table 9.
11. 
Refer to table 6 and the note on consolidation accompanying table 9.
12. 
Refer to table 7 and the note on consolidation accompanying table 9.
13. 
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.
14. 
Includes other assets denominated in foreign currencies, which are revalued daily at market exchange rates, and the fair value adjustment to credit extended by the FRBNY to eligible borrowers through the Term Asset-Backed Securities Loan Facility. Before the closing of the AIG recapitalization plan on January 14, 2011, included accrued dividends on the FRBNY's preferred interests in AIA Aurora LLC and ALICO Holdings LLC.
15. 
Estimated.
16. 
Cash value of agreements, which are collateralized by U.S. Treasury securities, federal agency debt securities, and mortgage-backed securities.
17. 
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 9. Also includes the liability for interest on Federal Reserve notes due to U.S. Treasury. Refer to table 8 and table 9.

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
Jun 15, 2011
Week ended
Jun 15, 2011
Change from week ended
Jun 8, 2011 Jun 16, 2010
Marketable securities held in custody for foreign
    official and international accounts 1
3,446,649 + 3,528 + 366,807 3,457,159
    U.S. Treasury securities 2,707,466 + 8,631 + 442,049 2,721,630
    Federal agency securities 2 739,183 - 5,102 - 75,242 735,529
Securities lent to dealers 20,213 + 3,593 + 15,233 27,008
    Overnight facility 3 20,213 + 3,593 + 15,233 27,008
        U.S. Treasury securities 19,435 + 3,724 + 15,616 26,187
        Federal agency debt securities 778 - 131 - 383 821
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.

2. Maturity Distribution of Securities, Loans, and Selected Other Assets and Liabilities, June 15, 2011
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
Loans 1 68 23 1,294 11,847 0 ... 13,232
U.S. Treasury securities 2  
    Holdings 18,054 12,329 92,008 692,563 565,620 195,365 1,575,939
    Weekly changes + 5,569 - 5,569 + 5 + 9,624 + 11,599 + 51 + 21,279
Federal agency debt securities 3  
    Holdings 1,661 6,928 16,524 68,156 22,749 2,347 118,365
    Weekly changes + 933 - 1,661 0 0 0 0 - 728
Mortgage-backed securities 4  
    Holdings 0 0 0 17 23 914,466 914,506
    Weekly changes 0 0 0 - 1 0 - 3,349 - 3,350
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 0 0 0 0 0 0 0
   
Reverse repurchase agreements 6 68,179 0 ... ... ... ... 68,179
Term deposits 5,087 0 0 ... ... ... 5,087
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
Account name Wednesday
Jun 15, 2011
Mortgage-backed securities held outright 1 914,506
 
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 8 and table 9.

4. Information on Principal Accounts of Maiden Lane LLC
Millions of dollars
Account name Wednesday
Jun 15, 2011
Net portfolio holdings of Maiden Lane LLC 1 23,769
 
Outstanding principal amount of loan extended by the Federal Reserve Bank of New York 2 20,895
Accrued interest payable to the Federal Reserve Bank of New York 2 699
Outstanding principal amount and accrued interest on loan payable to JPMorgan Chase & Co. 3 1,346
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 March 31, 2011. 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 9.
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 8 and table 9.

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
Jun 15, 2011
Net portfolio holdings of Maiden Lane II LLC 1 12,507
 
Outstanding principal amount of loan extended by the Federal Reserve Bank of New York 2 8,059
Accrued interest payable to the Federal Reserve Bank of New York 2 521
Deferred payment and accrued interest payable to subsidiaries of American International Group, Inc. 3 1,087
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 March 31, 2011. 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 9.
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 8 and table 9.

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
Jun 15, 2011
Net portfolio holdings of Maiden Lane III LLC 1 24,230
 
Outstanding principal amount of loan extended by the Federal Reserve Bank of New York 2 11,699
Accrued interest payable to the Federal Reserve Bank of New York 2 619
Outstanding principal amount and accrued interest on loan payable to American International Group, Inc. 3 5,445
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 March 31, 2011. 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 9.
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 8 and table 9.

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
Account name Wednesday
Jun 15, 2011
Asset-backed securities holdings 1 0
Other investments, net 746
Net portfolio holdings of TALF LLC 746
 
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 3 108
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 9.
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 8 and table 9.

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. Consolidated Statement of Condition of All Federal Reserve Banks
Millions of dollars
Assets, liabilities, and capital Eliminations from
consolidation
Wednesday
Jun 15, 2011
Change since
Wednesday
Jun 8, 2011
Wednesday
Jun 16, 2010
Assets  
    Gold certificate account   11,037 0 0
    Special drawing rights certificate account   5,200 0 0
    Coin   2,118 + 8 + 94
    Securities, repurchase agreements, and loans   2,622,043 + 17,073 + 481,422
        Securities held outright 1   2,608,810 + 17,202 + 538,056
            U.S. Treasury securities   1,575,939 + 21,279 + 798,988
                Bills 2   18,423 0 0
                Notes and bonds, nominal 2   1,485,706 + 21,172 + 773,683
                Notes and bonds, inflation-indexed 2   63,370 0 + 22,245
                Inflation compensation 3   8,441 + 107 + 3,061
            Federal agency debt securities 2   118,365 - 728 - 47,841
            Mortgage-backed securities 4   914,506 - 3,350 - 213,091
        Repurchase agreements 5   0 0 0
        Loans   13,232 - 130 - 56,635
    Net portfolio holdings of Commercial Paper
        Funding Facility LLC 6
  0 0 - 1
    Net portfolio holdings of Maiden Lane LLC 7   23,769 - 824 - 4,644
    Net portfolio holdings of Maiden Lane II LLC 8   12,507 - 24 - 3,193
    Net portfolio holdings of Maiden Lane III LLC 9   24,230 - 259 + 1,037
    Net portfolio holdings of TALF LLC 10   746 0 + 268
    Preferred interests in AIA Aurora LLC and ALICO
        Holdings LLC 11
  0 0 - 25,416
    Items in process of collection (154) 380 + 161 + 73
    Bank premises   2,208 + 2 - 27
    Central bank liquidity swaps 12   0 0 - 1,242
    Other assets 13   127,309 + 130 + 35,413
 
Total assets (154) 2,831,545 + 16,265 + 483,782
Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table.


8. Consolidated Statement of Condition of All Federal Reserve Banks (continued)
Millions of dollars
Assets, liabilities, and capital Eliminations from
consolidation
Wednesday
Jun 15, 2011
Change since
Wednesday
Jun 8, 2011
Wednesday
Jun 16, 2010
Liabilities  
    Federal Reserve notes, net of F.R. Bank holdings   982,363 - 730 + 82,505
    Reverse repurchase agreements 14   68,179 + 8,412 + 8,737
    Deposits (0) 1,706,278 + 9,263 + 392,439
        Term deposits held by depository institutions   5,087 0 + 5,087
        Other deposits held by depository institutions   1,569,229 - 93,735 + 548,551
        U.S. Treasury, general account   126,428 + 102,932 + 40,657
        U.S. Treasury, supplementary financing account   5,000 0 - 194,962
        Foreign official   131 + 5 - 1,793
        Other (0) 404 + 61 - 5,099
    Deferred availability cash items (154) 1,744 + 140 - 597
    Other liabilities and accrued dividends 15   20,025 - 1,087 + 3,694
 
Total liabilities (154) 2,778,590 + 15,999 + 486,779
 
Capital accounts  
    Capital paid in   26,478 + 134 + 239
    Surplus   26,478 + 134 + 714
    Other capital accounts   0 0 - 3,948
 
Total capital   52,955 + 266 - 2,997
Note: Components may not sum to totals because of rounding.


1. 
Includes securities lent to dealers under the overnight securities lending facility; 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 9.
8. 
Refer to table 5 and the note on consolidation accompanying table 9.
9. 
Refer to table 6 and the note on consolidation accompanying table 9.
10. 
Refer to table 7 and the note on consolidation accompanying table 9.
11. 
As a result of the closing of the AIG recapitalization plan on January 14, 2011, the Federal Reserve Bank of New York has been paid in full for its preferred interests in AIA Aurora LLC and ALICO Holdings LLC. A portion of the preferred interests was redeemed by AIG with the funds from AIG asset dispositions that were held as agent by the Federal Reserve.
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 the fair value adjustment to credit extended by the Federal Reserve Bank of New York (FRBNY) to eligible borrowers through the Term Asset-Backed Securities Loan Facility. Before the closing of the AIG recapitalization plan on January 14, 2011, included accrued dividends on the FRBNY's preferred interests in AIA Aurora LLC and ALICO Holdings LLC.
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 9. Also includes the liability for interest on Federal Reserve notes due to U.S. Treasury. Before the closing of the AIG recapitalization plan on January 14, 2011, included funds from American International Group, Inc. asset dispositions, held as agent.


9. Statement of Condition of Each Federal Reserve Bank, June 15, 2011
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 11,037 390 3,866 432 450 872 1,394 854 319 197 318 728 1,217
    Special drawing rights certificate acct. 5,200 196 1,818 210 237 412 654 424 150 90 153 282 574
    Coin 2,118 50 72 160 153 353 177 326 32 61 163 217 354
    Securities, repurchase agreements,
        and loans
2,622,043 64,141 1,226,350 89,368 70,469 301,291 193,948 154,938 49,383 40,108 69,404 103,179 259,463
        Securities held outright 1 2,608,810 64,141 1,213,209 89,368 70,469 301,291 193,946 154,925 49,377 40,093 69,396 103,179 259,416
            U.S. Treasury securities 1,575,939 38,747 732,879 53,985 42,569 182,005 117,159 93,588 29,828 24,220 41,921 62,329 156,709
                Bills 2 18,423 453 8,567 631 498 2,128 1,370 1,094 349 283 490 729 1,832
                Notes and bonds 3 1,557,516 38,294 724,312 53,354 42,072 179,877 115,790 92,494 29,479 23,937 41,431 61,600 154,877
            Federal agency debt securities 2 118,365 2,910 55,045 4,055 3,197 13,670 8,800 7,029 2,240 1,819 3,149 4,681 11,770
            Mortgage-backed securities 4 914,506 22,484 425,285 31,327 24,703 105,616 67,987 54,308 17,309 14,055 24,326 36,169 90,937
        Repurchase agreements 5 0 0 0 0 0 0 0 0 0 0 0 0 0
        Loans 13,232 0 13,141 0 0 0 2 13 6 14 8 1 47
    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
23,769 0 23,769 0 0 0 0 0 0 0 0 0 0
    Net portfolio holdings of Maiden
        Lane II LLC 8
12,507 0 12,507 0 0 0 0 0 0 0 0 0 0
    Net portfolio holdings of Maiden
        Lane III LLC 9
24,230 0 24,230 0 0 0 0 0 0 0 0 0 0
    Net portfolio holdings of TALF LLC 10 746 0 746 0 0 0 0 0 0 0 0 0 0
    Preferred interests in AIA Aurora LLC
        and ALICO Holdings LLC 11
0 0 0 0 0 0 0 0 0 0 0 0 0
    Items in process of collection 534 24 0 162 96 7 30 40 10 35 23 19 87
    Bank premises 2,208 124 255 68 138 237 218 207 136 106 262 246 211
    Central bank liquidity swaps 12 0 0 0 0 0 0 0 0 0 0 0 0 0
    Other assets 13 127,309 3,422 54,329 6,076 4,705 17,156 9,018 6,639 2,143 2,401 2,927 4,406 14,087
    Interdistrict settlement account 0 - 6,429 + 239,429 + 8,730 - 4,314 - 87,799 - 38,206 - 9,980 - 9,982 - 18,728 - 16,428 - 7,967 - 48,326
 
Total assets 2,831,700 61,917 1,587,370 105,206 71,934 232,529 167,233 153,449 42,191 24,270 56,821 101,110 227,668
Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table.


9. Statement of Condition of Each Federal Reserve Bank, June 15, 2011 (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 1,142,530 43,334 386,784 47,314 54,407 91,654 139,630 90,128 33,607 19,468 32,102 75,099 129,004
        Less: Notes held by F.R. Banks 160,167 4,859 41,693 5,896 8,195 12,565 24,937 13,338 4,229 5,501 3,288 10,997 24,668
            Federal Reserve notes, net 982,363 38,475 345,091 41,419 46,212 79,089 114,693 76,790 29,377 13,967 28,813 64,103 104,335
    Reverse repurchase agreements 14 68,179 1,676 31,706 2,336 1,842 7,874 5,069 4,049 1,290 1,048 1,814 2,696 6,780
    Deposits 1,706,278 19,600 1,179,673 56,110 19,344 133,524 43,733 70,629 10,812 7,141 25,344 33,085 107,284
        Term deposits held by depository
            institutions
5,087 18 3,157 605 3 941 0 10 0 33 1 10 310
        Other deposits held by depository
            institutions
1,569,229 19,555 1,044,729 55,501 19,337 132,489 43,731 70,595 10,812 7,107 25,342 33,074 106,959
        U.S. Treasury, general account 126,428 0 126,428 0 0 0 0 0 0 0 0 0 0
        U.S. Treasury, supplementary
            financing account
5,000 0 5,000 0 0 0 0 0 0 0 0 0 0
        Foreign official 131 1 102 4 3 8 2 1 0 1 0 1 6
        Other 404 25 257 0 1 86 0 23 0 0 1 0 10
    Deferred availability cash items 1,899 87 0 357 272 78 105 136 56 298 103 93 314
    Interest on Federal Reserve notes due
        to U.S. Treasury 15
835 20 536 2 2 -56 80 71 22 7 34 51 68
    Other liabilities and accrued
        dividends 16
19,190 222 14,931 322 313 894 532 442 189 169 193 304 680
 
Total liabilities 2,778,744 60,080 1,571,936 100,544 67,984 221,403 164,211 152,116 41,746 22,630 56,300 100,331 219,461
 
Capital  
    Capital paid in 26,478 919 7,717 2,331 1,975 5,563 1,511 666 222 820 261 389 4,103
    Surplus 26,478 919 7,717 2,331 1,975 5,563 1,511 666 222 820 261 389 4,103
    Other capital 0 0 0 0 0 0 0 0 0 0 0 0 0
 
Total liabilities and capital 2,831,700 61,917 1,587,370 105,206 71,934 232,529 167,233 153,449 42,191 24,270 56,821 101,110 227,668
Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table.


9. Statement of Condition of Each Federal Reserve Bank, June 15, 2011 (continued)

1. 
Includes securities lent to dealers under the overnight securities lending facility; 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. 
As a result of the closing of the AIG recapitalization plan on January 14, 2011, the Federal Reserve Bank of New York has been paid in full for its preferred interests in AIA Aurora LLC and ALICO Holdings LLC. A portion of the preferred interests was redeemed by AIG with the funds from AIG asset dispositions that were held as agent by the Federal Reserve.
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 the fair value adjustment to credit extended by the Federal Reserve Bank of New York (FRBNY) to eligible borrowers through the Term Asset-Backed Securities Loan Facility. Before the closing of the AIG recapitalization plan on January 14, 2011, included accrued dividends on the FRBNY's preferred interests in AIA Aurora LLC and ALICO Holdings LLC.
14. 
Cash value of agreements, which are collateralized by U.S. Treasury securities, federal agency debt securities, and mortgage-backed securities.
15. 
Represents the estimated weekly remittances to U.S Treasury as interest on Federal Reserve notes or, in those cases where the Reserve Bank's net earnings are not sufficient to equate surplus to capital paid-in, the deferred asset for interest on Federal Reserve notes. The amount of any deferred asset, which is presented as a negative amount in this line, represents the amount of the Federal Reserve Bank's earnings that must be retained before remittances to the U.S. Treasury resume. The amounts on this line are calculated in accordance with Board of Governors policy, which requires the Federal Reserve Banks to remit residual earnings to the U.S. Treasury as interest on Federal Reserve notes after providing for the costs of operations, payment of dividends, and the amount necessary to equate surplus with capital paid-in.
16. 
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. Before the closing of the AIG recapitalization plan on January 14, 2011, included 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 8), 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 8).


10. Collateral Held against Federal Reserve Notes: Federal Reserve Agents' Accounts
Millions of dollars
Federal Reserve notes and collateral Wednesday
Jun 15, 2011
Federal Reserve notes outstanding 1,142,530
    Less: Notes held by F.R. Banks not subject to collateralization 160,167
        Federal Reserve notes to be collateralized 982,363
Collateral held against Federal Reserve notes 982,363
    Gold certificate account 11,037
    Special drawing rights certificate account 5,200
    U.S. Treasury, agency debt, and mortgage-backed securities pledged 1,2 966,126
    Other assets pledged 0
Memo:  
Total U.S. Treasury, agency debt, and mortgage-backed securities 1,2 2,608,810
    Less: Face value of securities under reverse repurchase agreements 63,631
        U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 2,545,180
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 securities lending facility; refer to table 1A.

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