FEDERAL RESERVE statistical release H.4.1 Factors Affecting Reserve Balances of Depository Institutions and Condition Statement of Federal Reserve Banks July 5, 2012 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 Jul 4, 2012 Federal Reserve Banks Jul 4, 2012 Jun 27, 2012 Jul 6, 2011 Reserve Bank credit 2,845,438 - 8,826 - 8,834 2,848,229 Securities held outright (1) 2,610,149 - 10,778 - 37,797 2,612,889 U.S. Treasury securities 1,663,652 - 3,116 + 39,863 1,666,375 Bills (2) 18,423 0 0 18,423 Notes and bonds, nominal (2) 1,567,462 - 3,154 + 36,666 1,570,190 Notes and bonds, inflation-indexed (2) 67,915 0 + 2,394 67,915 Inflation compensation (3) 9,852 + 37 + 803 9,847 Federal agency debt securities (2) 91,484 0 - 23,819 91,484 Mortgage-backed securities (4) 855,013 - 7,661 - 53,840 855,030 Repurchase agreements (5) 0 0 0 0 Loans 4,642 - 256 - 8,102 4,582 Primary credit 16 - 11 + 4 2 Secondary credit 0 0 0 0 Seasonal credit 70 + 1 + 17 74 Term Asset-Backed Securities Loan Facility (6) 4,556 - 246 - 8,123 4,506 Other credit extensions 0 0 0 0 Net portfolio holdings of Maiden Lane LLC (7) 2,417 - 58 - 21,438 2,417 Net portfolio holdings of Maiden Lane II LLC (8) 18 0 - 12,209 18 Net portfolio holdings of Maiden Lane III LLC (9) 12,889 + 586 - 11,366 12,946 Net portfolio holdings of TALF LLC (10) 845 0 + 88 845 Float -867 - 215 + 189 -1,156 Central bank liquidity swaps (11) 27,969 + 910 + 27,969 27,969 Other Federal Reserve assets (12) 187,375 + 983 + 53,832 187,719 Gold stock 11,041 0 0 11,041 Special drawing rights certificate account 5,200 0 0 5,200 Treasury currency outstanding (13) 44,571 + 14 + 618 44,571 Total factors supplying reserve funds 2,906,250 - 8,812 - 8,215 2,909,041 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 Jul 4, 2012 Federal Reserve Banks Jul 4, 2012 Jun 27, 2012 Jul 6, 2011 Currency in circulation (13) 1,113,976 + 5,816 + 82,696 1,118,265 Reverse repurchase agreements (14) 86,330 + 2,239 + 18,234 87,963 Foreign official and international accounts 86,330 + 2,239 + 18,234 87,963 Others 0 0 0 0 Treasury cash holdings 117 - 3 - 29 117 Deposits with F.R. Banks, other than reserve balances 130,593 - 55,735 + 39,467 120,838 Term deposits held by depository institutions 0 0 0 0 U.S. Treasury, General Account 100,829 - 28,320 + 24,269 97,508 U.S. Treasury, Supplementary Financing Account 0 0 - 5,000 0 Foreign official 1,584 - 71 + 1,410 1,588 Service-related 1,893 - 3 - 640 1,893 Required clearing balances 1,893 - 3 - 640 1,893 Adjustments to compensate for float 0 0 0 0 Other 26,287 - 27,341 + 19,428 19,849 Other liabilities and capital (15) 75,089 - 82 + 2,029 75,791 Total factors, other than reserve balances, absorbing reserve funds 1,406,105 - 47,765 + 142,397 1,402,975 Reserve balances with Federal Reserve Banks 1,500,145 + 38,954 - 150,612 1,506,067 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. Includes credit extended by the Federal Reserve Bank of New York to eligible borrowers through the Term Asset-Backed Securities Loan Facility. 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. 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 FRBNY to eligible borrowers through the Term Asset-Backed Securities Loan Facility. 13. Estimated. 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. 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 Jul 4, 2012 Memorandum item Jul 4, 2012 Jun 27, 2012 Jul 6, 2011 Marketable securities held in custody for foreign official and international accounts (1) 3,512,629 + 3,025 + 67,305 3,510,504 U.S. Treasury securities 2,814,586 + 2,674 + 106,579 2,812,666 Federal agency securities (2) 698,043 + 351 - 39,274 697,837 Securities lent to dealers 14,277 + 702 - 16,185 13,622 Overnight facility (3) 14,277 + 702 - 16,185 13,622 U.S. Treasury securities 13,605 + 727 - 16,131 12,965 Federal agency debt securities 672 - 25 - 55 657 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, July 4, 2012 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) 85 1,470 1,457 1,571 0 ... 4,582 U.S. Treasury securities (2) Holdings 10,261 22,584 20,530 527,072 749,237 336,692 1,666,375 Weekly changes - 6,754 + 6,570 - 824 + 2,444 - 5,386 + 3,797 - 155 Federal agency debt securities (3) Holdings 455 7,624 14,225 61,083 5,750 2,347 91,484 Weekly changes + 455 + 717 + 306 - 1,478 0 0 0 Mortgage-backed securities (4) Holdings 0 0 2 6 121 854,901 855,030 Weekly changes 0 0 0 0 + 3 + 48 + 51 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) 2,560 25,409 0 0 0 0 27,969 Reverse repurchase agreements (6) 87,963 0 ... ... ... ... 87,963 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 Jul 4, 2012 Mortgage-backed securities held outright (1) 855,030 Commitments to buy mortgage-backed securities (2) 35,751 Commitments to sell mortgage-backed securities (2) 0 Cash and cash equivalents (3) 57 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 Jul 4, 2012 Net portfolio holdings of Maiden Lane LLC (1) 2,417 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 Outstanding principal amount and accrued interest on loan payable to JPMorgan Chase & Co. (3) 1,101 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, 2012. 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 Jul 4, 2012 Net portfolio holdings of Maiden Lane II LLC (1) 18 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 Deferred payment and accrued interest payable to subsidiaries of American International Group, Inc. (3) 0 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, 2012. 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 Jul 4, 2012 Net portfolio holdings of Maiden Lane III LLC (1) 12,946 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 Outstanding principal amount and accrued interest on loan payable to American International Group, Inc. (3) 5,557 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, 2012. 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 Jul 4, 2012 Asset-backed securities holdings (1) 0 Other investments, net 845 Net portfolio holdings of TALF LLC 845 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) 111 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 $1.4 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 Jul 4, 2012 Wednesday Wednesday Assets, liabilities, and capital Jun 27, 2012 Jul 6, 2011 Assets Gold certificate account 11,037 0 0 Special drawing rights certificate account 5,200 0 0 Coin 2,105 - 30 + 9 Securities, repurchase agreements, and loans 2,617,471 - 380 - 43,519 Securities held outright (1) 2,612,889 - 104 - 35,549 U.S. Treasury securities 1,666,375 - 155 + 41,860 Bills (2) 18,423 0 0 Notes and bonds, nominal (2) 1,570,190 - 167 + 38,693 Notes and bonds, inflation-indexed (2) 67,915 0 + 2,394 Inflation compensation (3) 9,847 + 12 + 773 Federal agency debt securities (2) 91,484 0 - 23,586 Mortgage-backed securities (4) 855,030 + 51 - 53,823 Repurchase agreements (5) 0 0 0 Loans 4,582 - 276 - 7,970 Net portfolio holdings of Maiden Lane LLC (6) 2,417 - 6 - 21,454 Net portfolio holdings of Maiden Lane II LLC (7) 18 0 - 11,433 Net portfolio holdings of Maiden Lane III LLC (8) 12,946 + 356 - 11,369 Net portfolio holdings of TALF LLC (9) 845 0 + 88 Items in process of collection (103) 268 + 102 - 151 Bank premises 2,357 - 7 + 158 Central bank liquidity swaps (10) 27,969 + 910 + 27,969 Other assets (11) 185,352 + 1,342 + 53,638 Total assets (103) 2,867,985 + 2,287 - 6,064 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 Jul 4, 2012 Wednesday Wednesday Assets, liabilities, and capital Jun 27, 2012 Jul 6, 2011 Liabilities Federal Reserve notes, net of F.R. Bank holdings 1,075,912 + 7,995 + 85,051 Reverse repurchase agreements (12) 87,963 + 4,226 + 20,436 Deposits (0) 1,626,895 - 12,119 - 114,441 Term deposits held by depository institutions 0 0 0 Other deposits held by depository institutions 1,507,949 + 15,961 - 155,073 U.S. Treasury, General Account 97,508 - 20,415 + 30,238 U.S. Treasury, Supplementary Financing Account 0 0 - 5,000 Foreign official 1,588 + 10 + 1,461 Other (0) 19,849 - 7,677 + 13,931 Deferred availability cash items (103) 1,424 + 468 - 650 Other liabilities and accrued dividends (13) 21,119 + 1,714 + 535 Total liabilities (103) 2,813,312 + 2,283 - 9,070 Capital accounts Capital paid in 27,336 + 2 + 1,503 Surplus 27,336 + 2 + 1,503 Other capital accounts 0 0 0 Total capital 54,672 + 3 + 3,005 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. 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. 11. 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. 12. Cash value of agreements, which are collateralized by U.S. Treasury securities, federal agency debt securities, and mortgage-backed securities. 13. 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. 9. Statement of Condition of Each Federal Reserve Bank, July 4, 2012 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 11,037 408 3,824 437 515 890 1,337 839 313 192 315 725 1,242 Special drawing rights certificate acct. 5,200 196 1,818 210 237 412 654 424 150 90 153 282 574 Coin 2,105 41 87 148 146 378 196 310 34 52 160 201 352 Securities, repurchase agreements, and loans 2,617,471 63,462 1,469,434 86,376 66,431 185,963 157,542 144,959 40,866 23,793 52,499 101,529 224,616 Securities held outright (1) 2,612,889 63,462 1,464,928 86,376 66,431 185,963 157,539 144,952 40,850 23,754 52,494 101,524 224,616 U.S. Treasury securities 1,666,375 40,473 934,260 55,087 42,367 118,598 100,471 92,443 26,052 15,149 33,478 64,747 143,249 Bills (2) 18,423 447 10,329 609 468 1,311 1,111 1,022 288 167 370 716 1,584 Notes and bonds (3) 1,647,952 40,026 923,932 54,478 41,898 117,287 99,360 91,421 25,764 14,981 33,108 64,031 141,665 Federal agency debt securities (2) 91,484 2,222 51,291 3,024 2,326 6,511 5,516 5,075 1,430 832 1,838 3,555 7,864 Mortgage-backed securities (4) 855,030 20,767 479,376 28,265 21,739 60,854 51,552 47,433 13,368 7,773 17,178 33,222 73,502 Repurchase agreements (5) 0 0 0 0 0 0 0 0 0 0 0 0 0 Loans 4,582 0 4,506 0 0 0 3 7 16 39 5 5 0 Net portfolio holdings of Maiden Lane LLC (6) 2,417 0 2,417 0 0 0 0 0 0 0 0 0 0 Net portfolio holdings of Maiden Lane II LLC (7) 18 0 18 0 0 0 0 0 0 0 0 0 0 Net portfolio holdings of Maiden Lane III LLC (8) 12,946 0 12,946 0 0 0 0 0 0 0 0 0 0 Net portfolio holdings of TALF LLC (9) 845 0 845 0 0 0 0 0 0 0 0 0 0 Items in process of collection 371 5 0 75 145 13 14 16 16 9 6 9 62 Bank premises 2,357 121 459 67 123 230 212 202 132 104 255 242 211 Central bank liquidity swaps (10) 27,969 980 9,022 2,426 2,068 5,786 1,599 746 229 114 278 448 4,273 Other assets (11) 185,352 4,802 97,533 7,493 5,947 16,770 11,144 9,550 2,749 1,611 3,488 6,649 17,616 Interdistrict settlement account 0 + 7,445 - 21,411 - 17,909 + 2,170 + 1,338 + 13,507 - 1,283 + 3,805 + 1,258 - 503 + 4,357 + 7,227 Total assets 2,868,088 77,461 1,576,992 79,323 77,781 211,779 186,206 155,763 48,294 27,223 56,652 114,443 256,172 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, July 4, 2012 (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 1,259,988 46,494 437,998 47,453 61,409 101,753 161,875 94,289 37,728 22,334 36,937 77,172 134,545 Less: Notes held by F.R. Banks 184,076 4,697 71,512 5,247 7,135 11,840 26,817 12,063 4,070 3,278 3,300 10,761 23,356 Federal Reserve notes, net 1,075,912 41,797 366,487 42,206 54,274 89,913 135,058 82,225 33,658 19,055 33,638 66,411 111,189 Reverse repurchase agreements (12) 87,963 2,136 49,317 2,908 2,236 6,260 5,304 4,880 1,375 800 1,767 3,418 7,562 Deposits 1,626,895 30,564 1,127,079 29,397 16,654 103,874 41,939 66,473 12,434 6,794 20,435 43,203 128,049 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 1,507,949 30,557 1,008,347 29,388 16,651 103,723 41,933 66,447 12,434 6,794 20,433 43,202 128,042 U.S. Treasury, General Account 97,508 0 97,508 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 1,588 1 1,561 3 3 8 2 1 0 0 0 1 6 Other 19,849 6 19,663 5 0 143 4 25 0 0 1 1 1 Deferred availability cash items 1,527 57 0 157 84 40 199 30 169 192 41 128 428 Interest on Federal Reserve notes due to U.S. Treasury (13) 3,696 67 2,286 98 72 232 203 182 57 30 73 126 270 Other liabilities and accrued dividends (14) 17,422 179 14,369 229 219 523 402 369 155 126 153 265 434 Total liabilities 2,813,415 74,801 1,559,538 74,996 73,539 200,843 183,104 154,158 47,848 26,996 56,107 113,552 247,932 Capital Capital paid in 27,336 1,330 8,727 2,164 2,121 5,468 1,551 802 223 114 272 445 4,120 Surplus 27,336 1,330 8,727 2,164 2,121 5,468 1,551 802 223 114 272 445 4,120 Other capital 0 0 0 0 0 0 0 0 0 0 0 0 0 Total liabilities and capital 2,868,088 77,461 1,576,992 79,323 77,781 211,779 186,206 155,763 48,294 27,223 56,652 114,443 256,172 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, July 4, 2012 (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. 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. 11. 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. 12. Cash value of agreements, which are collateralized by U.S. Treasury securities, federal agency debt securities, and mortgage-backed securities. 13. 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. 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 below. Note on consolidation: The Federal Reserve Bank of New York (FRBNY) has extended loans to several limited liability companies under the authority of section 13(3) of the Federal Reserve Act. On June 26, 2008, a loan was extended to Maiden Lane LLC, which was formed to acquire certain assets of Bear Stearns. On 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 Jul 4, 2012 Federal Reserve notes outstanding 1,259,988 Less: Notes held by F.R. Banks not subject to collateralization 184,076 Federal Reserve notes to be collateralized 1,075,912 Collateral held against Federal Reserve notes 1,075,912 Gold certificate account 11,037 Special drawing rights certificate account 5,200 U.S. Treasury, agency debt, and mortgage-backed securities pledged (1,2) 1,059,675 Other assets pledged 0 Memo: Total U.S. Treasury, agency debt, and mortgage-backed securities (1,2) 2,612,889 Less: Face value of securities under reverse repurchase agreements 74,906 U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 2,537,983 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.