FEDERAL RESERVE statistical release H.4.1 Factors Affecting Reserve Balances of Depository Institutions and Condition Statement of Federal Reserve Banks December 22, 2011 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 Dec 21, 2011 Federal Reserve Banks Dec 21, 2011 Dec 14, 2011 Dec 22, 2010 Reserve Bank credit 2,884,945 + 17,829 + 496,236 2,898,852 Securities held outright (1) 2,628,660 + 11,065 + 485,940 2,640,671 U.S. Treasury securities 1,673,837 + 2,306 + 687,292 1,684,249 Bills (2) 18,423 0 0 18,423 Notes and bonds, nominal (2) 1,577,280 + 1,248 + 661,965 1,587,705 Notes and bonds, inflation-indexed (2) 68,468 + 984 + 21,731 68,468 Inflation compensation (3) 9,667 + 74 + 3,597 9,653 Federal agency debt securities (2) 104,696 - 1,213 - 42,825 104,696 Mortgage-backed securities (4) 850,127 + 9,973 - 158,527 851,726 Repurchase agreements (5) 0 0 0 0 Loans 9,548 - 433 - 36,023 9,514 Primary credit 13 - 380 - 15 57 Secondary credit 0 0 0 0 Seasonal credit 26 + 2 - 2 26 Credit extended to American International Group, Inc., net (6) 0 0 - 20,625 0 Term Asset-Backed Securities Loan Facility (7) 9,509 - 54 - 15,381 9,431 Other credit extensions 0 0 0 0 Net portfolio holdings of Maiden Lane LLC (8) 7,214 - 2,922 - 19,702 7,235 Net portfolio holdings of Maiden Lane II LLC (9) 9,239 + 3 - 6,906 9,243 Net portfolio holdings of Maiden Lane III LLC (10) 17,721 - 179 - 5,401 17,733 Net portfolio holdings of TALF LLC (11) 804 + 1 + 151 811 Preferred interests in AIA Aurora LLC and ALICO Holdings LLC (6) 0 0 - 26,057 0 Float -869 + 48 + 724 -1,061 Central bank liquidity swaps (12) 62,599 + 8,264 + 62,524 62,599 Other Federal Reserve assets (13) 150,028 + 1,981 + 40,984 152,107 Gold stock 11,041 0 0 11,041 Special drawing rights certificate account 5,200 0 0 5,200 Treasury currency outstanding (14) 44,236 + 14 + 701 44,236 Total factors supplying reserve funds 2,945,422 + 17,843 + 496,936 2,959,329 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 Dec 21, 2011 Federal Reserve Banks Dec 21, 2011 Dec 14, 2011 Dec 22, 2010 Currency in circulation (14) 1,066,495 + 2,125 + 86,025 1,070,339 Reverse repurchase agreements (15) 87,227 + 2,472 + 35,971 90,070 Foreign official and international accounts 87,227 + 2,472 + 35,971 90,070 Others 0 0 0 0 Treasury cash holdings 116 + 2 - 62 120 Deposits with F.R. Banks, other than reserve balances 209,113 + 105,525 - 94,399 222,524 Term deposits held by depository institutions 0 - 5,055 - 5,113 0 U.S. Treasury, General Account 112,404 + 90,920 + 20,925 106,592 U.S. Treasury, Supplementary Financing Account 0 0 - 199,961 0 Foreign official 190 - 19 - 4,019 426 Service-related 2,489 - 9 + 134 2,489 Required clearing balances 2,489 - 9 + 134 2,489 Adjustments to compensate for float 0 0 0 0 Other 94,030 + 19,688 + 93,635 113,016 Funds from American International Group, Inc. asset dispositions, held as agent (6) 0 0 - 26,838 0 Other liabilities and capital (16) 72,502 - 672 - 670 72,074 Total factors, other than reserve balances, absorbing reserve funds 1,435,453 + 109,452 + 26 1,455,127 Reserve balances with Federal Reserve Banks 1,509,968 - 91,610 + 496,910 1,504,201 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. Refer to table 4 and the note on consolidation accompanying table 9. 9. Refer to table 5 and the note on consolidation accompanying table 9. 10. Refer to table 6 and the note on consolidation accompanying table 9. 11. Refer to table 7 and the note on consolidation accompanying 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 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. 14. Estimated. 15. Cash value of agreements, which are collateralized by U.S. Treasury securities, federal agency debt securities, and mortgage-backed securities. 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 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 Averages of daily figures Wednesday Week ended Change from week ended Dec 21, 2011 Memorandum item Dec 21, 2011 Dec 14, 2011 Dec 22, 2010 Marketable securities held in custody for foreign official and international accounts (1) 3,440,474 - 2,195 + 89,408 3,433,849 U.S. Treasury securities 2,712,768 - 10,421 + 92,403 2,702,218 Federal agency securities (2) 727,706 + 8,225 - 2,995 731,631 Securities lent to dealers 14,801 + 2,970 + 4,840 16,504 Overnight facility (3) 14,801 + 2,970 + 4,840 16,504 U.S. Treasury securities 13,658 + 2,992 + 4,902 15,287 Federal agency debt securities 1,143 - 21 - 62 1,217 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, December 21, 2011 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 Loans (1) 84 0 4,294 5,136 0 ... 9,514 U.S. Treasury securities (2) Holdings 15,691 27,662 87,287 667,121 655,879 230,610 1,684,249 Weekly changes - 2,729 + 4,896 - 7,106 - 4,943 + 15,175 + 5,482 + 10,774 Federal agency debt securities (3) Holdings 702 5,002 19,709 63,103 13,833 2,347 104,696 Weekly changes - 1,213 + 811 - 811 + 2,313 - 2,313 0 - 1,213 Mortgage-backed securities (4) Holdings 0 0 0 14 34 851,677 851,726 Weekly changes 0 0 0 + 3 + 11 - 6,366 - 6,352 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) 6,488 56,111 0 0 0 0 62,599 Reverse repurchase agreements (6) 90,070 0 ... ... ... ... 90,070 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 Millions of dollars Wednesday Account name Dec 21, 2011 Mortgage-backed securities held outright (1) 851,726 Commitments to buy mortgage-backed securities (2) 36,640 Commitments to sell mortgage-backed securities (2) 4,350 Cash and cash equivalents (3) 197 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 Wednesday Account name Dec 21, 2011 Net portfolio holdings of Maiden Lane LLC (1) 7,235 Outstanding principal amount of loan extended by the Federal Reserve Bank of New York (2) 4,104 Accrued interest payable to the Federal Reserve Bank of New York (2) 754 Outstanding principal amount and accrued interest on loan payable to JPMorgan Chase & Co. (3) 1,383 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, 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 Wednesday Account name Dec 21, 2011 Net portfolio holdings of Maiden Lane II LLC (1) 9,243 Outstanding principal amount of loan extended by the Federal Reserve Bank of New York (2) 6,223 Accrued interest payable to the Federal Reserve Bank of New York (2) 567 Deferred payment and accrued interest payable to subsidiaries of American International Group, Inc. (3) 1,105 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, 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 Wednesday Account name Dec 21, 2011 Net portfolio holdings of Maiden Lane III LLC (1) 17,733 Outstanding principal amount of loan extended by the Federal Reserve Bank of New York (2) 9,134 Accrued interest payable to the Federal Reserve Bank of New York (2) 688 Outstanding principal amount and accrued interest on loan payable to American International Group, Inc. (3) 5,537 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, 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 Wednesday Account name Dec 21, 2011 Asset-backed securities holdings (1) 0 Other investments, net 811 Net portfolio holdings of TALF LLC 811 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) 109 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 Eliminations from Wednesday Change since consolidation Dec 21, 2011 Wednesday Wednesday Assets, liabilities, and capital Dec 14, 2011 Dec 22, 2010 Assets Gold certificate account 11,037 0 0 Special drawing rights certificate account 5,200 0 0 Coin 2,297 + 17 + 149 Securities, repurchase agreements, and loans 2,650,185 + 3,135 + 441,987 Securities held outright (1) 2,640,671 + 3,209 + 477,574 U.S. Treasury securities 1,684,249 + 10,774 + 677,012 Bills (2) 18,423 0 0 Notes and bonds, nominal (2) 1,587,705 + 10,811 + 653,178 Notes and bonds, inflation-indexed (2) 68,468 0 + 20,343 Inflation compensation (3) 9,653 - 37 + 3,491 Federal agency debt securities (2) 104,696 - 1,213 - 42,764 Mortgage-backed securities (4) 851,726 - 6,352 - 156,674 Repurchase agreements (5) 0 0 0 Loans 9,514 - 74 - 35,587 Net portfolio holdings of Maiden Lane LLC (6) 7,235 + 24 - 19,694 Net portfolio holdings of Maiden Lane II LLC (7) 9,243 + 4 - 6,908 Net portfolio holdings of Maiden Lane III LLC (8) 17,733 + 14 - 5,396 Net portfolio holdings of TALF LLC (9) 811 + 8 + 146 Preferred interests in AIA Aurora LLC and ALICO Holdings LLC (10) 0 0 - 26,057 Items in process of collection (103) 191 - 128 - 306 Bank premises 2,187 + 3 - 39 Central bank liquidity swaps (11) 62,599 + 8,264 + 62,524 Other assets (12) 149,787 + 2,203 + 41,327 Total assets (103) 2,918,506 + 13,547 + 487,734 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 Eliminations from Wednesday Change since consolidation Dec 21, 2011 Wednesday Wednesday Assets, liabilities, and capital Dec 14, 2011 Dec 22, 2010 Liabilities Federal Reserve notes, net of F.R. Bank holdings 1,028,516 + 3,887 + 86,094 Reverse repurchase agreements (13) 90,070 + 7,598 + 38,936 Deposits (0) 1,726,593 + 1,752 + 391,080 Term deposits held by depository institutions 0 - 5,055 - 5,113 Other deposits held by depository institutions 1,506,559 - 108,609 + 471,035 U.S. Treasury, General Account 106,592 + 80,941 + 16,679 U.S. Treasury, Supplementary Financing Account 0 0 - 199,961 Foreign official 426 - 274 - 4,155 Other (0) 113,016 + 34,749 + 112,595 Deferred availability cash items (103) 1,252 - 82 - 965 Other liabilities and accrued dividends (14) 18,191 + 386 - 24,888 Total liabilities (103) 2,864,623 + 13,542 + 490,258 Capital accounts Capital paid in 26,941 + 2 + 467 Surplus 26,941 + 2 + 996 Other capital accounts 0 0 - 3,988 Total capital 53,883 + 4 - 2,524 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. Refer to table 4 and the note on consolidation accompanying table 9. 7. Refer to table 5 and the note on consolidation accompanying table 9. 8. Refer to table 6 and the note on consolidation accompanying table 9. 9. Refer to table 7 and the note on consolidation accompanying table 9. 10. 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. 11. 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. 12. 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. 13. Cash value of agreements, which are collateralized by U.S. Treasury securities, federal agency debt securities, and mortgage-backed securities. 14. 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, December 21, 2011 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 11,037 390 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 2,297 52 80 161 171 408 204 332 35 59 175 238 381 Securities, repurchase agreements, and loans 2,650,185 64,927 1,237,456 90,464 71,330 304,971 196,316 156,823 49,982 40,588 70,255 104,439 262,634 Securities held outright (1) 2,640,671 64,925 1,228,025 90,459 71,330 304,971 196,314 156,817 49,980 40,583 70,243 104,439 262,584 U.S. Treasury securities 1,684,249 41,410 783,248 57,696 45,495 194,514 125,211 100,020 31,878 25,884 44,802 66,612 167,479 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) 1,665,827 40,957 774,681 57,065 44,997 192,386 123,842 98,926 31,529 25,601 44,312 65,884 165,647 Federal agency debt securities (2) 104,696 2,574 48,688 3,586 2,828 12,091 7,783 6,217 1,982 1,609 2,785 4,141 10,411 Mortgage-backed securities (4) 851,726 20,941 396,089 29,177 23,007 98,366 63,319 50,580 16,121 13,090 22,656 33,686 84,694 Repurchase agreements (5) 0 0 0 0 0 0 0 0 0 0 0 0 0 Loans 9,514 2 9,431 5 0 0 2 6 2 5 12 0 50 Net portfolio holdings of Maiden Lane LLC (6) 7,235 0 7,235 0 0 0 0 0 0 0 0 0 0 Net portfolio holdings of Maiden Lane II LLC (7) 9,243 0 9,243 0 0 0 0 0 0 0 0 0 0 Net portfolio holdings of Maiden Lane III LLC (8) 17,733 0 17,733 0 0 0 0 0 0 0 0 0 0 Net portfolio holdings of TALF LLC (9) 811 0 811 0 0 0 0 0 0 0 0 0 0 Preferred interests in AIA Aurora LLC and ALICO Holdings LLC (10) 0 0 0 0 0 0 0 0 0 0 0 0 0 Items in process of collection 294 14 0 87 85 5 -97 21 5 11 6 14 141 Bank premises 2,187 122 263 67 126 232 214 206 134 105 259 246 213 Central bank liquidity swaps (11) 62,599 2,163 18,131 6,064 4,644 12,836 3,587 1,586 510 1,934 564 948 9,633 Other assets (12) 149,787 3,969 64,866 6,797 5,278 19,684 10,708 8,001 2,577 2,740 3,537 5,341 16,288 Interdistrict settlement account 0 - 1,229 + 337,320 - 25,579 - 8,275 - 128,296 - 47,409 - 20,898 - 9,822 - 19,054 - 19,792 - 648 - 56,318 Total assets 2,918,609 70,604 1,698,822 78,702 74,046 211,124 165,572 147,350 43,890 26,671 55,475 111,588 234,764 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, December 21, 2011 (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 1,205,814 44,372 425,654 46,220 54,341 94,761 145,345 89,366 33,997 21,045 34,663 80,375 135,675 Less: Notes held by F.R. Banks 177,298 4,596 50,711 6,673 9,684 11,486 28,895 12,824 4,232 5,315 3,672 12,274 26,936 Federal Reserve notes, net 1,028,516 39,776 374,944 39,547 44,658 83,274 116,450 76,542 29,765 15,730 30,991 68,101 108,739 Reverse repurchase agreements (13) 90,070 2,215 41,887 3,085 2,433 10,402 6,696 5,349 1,705 1,384 2,396 3,562 8,956 Deposits 1,726,593 26,421 1,250,982 30,911 22,465 105,307 38,705 63,407 11,751 8,835 21,297 38,681 107,832 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 1,506,559 26,377 1,031,154 30,902 22,461 105,210 38,703 63,372 11,750 8,832 21,293 38,679 107,825 U.S. Treasury, General Account 106,592 0 106,592 0 0 0 0 0 0 0 0 0 0 U.S. Treasury, Supplementary Financing Account 0 0 0 0 0 0 0 0 0 0 0 0 0 Foreign official 426 1 398 4 3 8 2 1 0 1 0 1 6 Other 113,016 42 112,838 5 1 88 0 34 0 2 4 1 1 Deferred availability cash items 1,355 69 0 157 176 34 79 68 41 338 54 62 278 Interest on Federal Reserve notes due to U.S. Treasury (14) 1,632 39 769 54 45 214 120 85 22 23 36 51 174 Other liabilities and accrued dividends (15) 16,559 199 12,892 282 293 764 445 374 168 140 167 269 566 Total liabilities 2,864,726 68,718 1,681,473 74,036 70,069 199,996 162,495 145,825 43,451 26,451 54,940 110,726 226,545 Capital Capital paid in 26,941 943 8,675 2,333 1,988 5,564 1,538 762 220 110 268 431 4,109 Surplus 26,941 943 8,675 2,333 1,988 5,564 1,538 762 220 110 268 431 4,109 Other capital 0 0 0 0 0 0 0 0 0 0 0 0 0 Total liabilities and capital 2,918,609 70,604 1,698,822 78,702 74,046 211,124 165,572 147,350 43,890 26,671 55,475 111,588 234,764 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, December 21, 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. Refer to table 4 and the note on consolidation below. 7. Refer to table 5 and the note on consolidation below. 8. Refer to table 6 and the note on consolidation below. 9. Refer to table 7 and the note on consolidation below. 10. 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. 11. 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. 12. 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. 13. Cash value of agreements, which are collateralized by U.S. Treasury securities, federal agency debt securities, and mortgage-backed securities. 14. 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. 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. 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 Wednesday Federal Reserve notes and collateral Dec 21, 2011 Federal Reserve notes outstanding 1,205,814 Less: Notes held by F.R. Banks not subject to collateralization 177,298 Federal Reserve notes to be collateralized 1,028,516 Collateral held against Federal Reserve notes 1,028,516 Gold certificate account 11,037 Special drawing rights certificate account 5,200 U.S. Treasury, agency debt, and mortgage-backed securities pledged (1,2) 1,012,279 Other assets pledged 0 Memo: Total U.S. Treasury, agency debt, and mortgage-backed securities (1,2) 2,640,671 Less: Face value of securities under reverse repurchase agreements 77,985 U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 2,562,686 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.