FRB: H.4.1 Release--Factors Affecting Reserve Balances--October 2, 2014

FEDERAL RESERVE statistical release

H.4.1

Factors Affecting Reserve Balances of Depository Institutions and
Condition Statement of Federal Reserve Banks October 2, 2014

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 Oct 1, 2014
Federal Reserve Banks Oct 1, 2014 Sep 24, 2014 Oct 2, 2013

Reserve Bank credit 4,407,844 - 9,889 + 710,692 4,409,110
Securities held outright (1) 4,186,648 - 8,571 + 713,701 4,188,166
U.S. Treasury securities 2,450,220 + 3,154 + 380,458 2,451,736
Bills (2) 0 0 0 0
Notes and bonds, nominal (2) 2,335,469 + 3,165 + 366,253 2,336,994
Notes and bonds, inflation-indexed (2) 98,188 0 + 10,979 98,188
Inflation compensation (3) 16,563 - 11 + 3,226 16,555
Federal agency debt securities (2) 40,006 0 - 21,075 40,006
Mortgage-backed securities (4) 1,696,422 - 11,725 + 354,318 1,696,424
Unamortized premiums on securities held outright (5) 209,287 - 614 + 5,154 209,173
Unamortized discounts on securities held outright (5) -18,726 - 41 - 11,592 -18,758
Repurchase agreements (6) 0 0 0 0
Loans 280 - 50 + 19 228
Primary credit 23 - 12 + 8 4
Secondary credit 0 0 0 0
Seasonal credit 242 - 21 + 97 210
Term Asset-Backed Securities Loan Facility (7) 14 - 18 - 87 14
Other credit extensions 0 0 0 0
Net portfolio holdings of Maiden Lane LLC (8) 1,664 0 + 170 1,664
Net portfolio holdings of Maiden Lane II LLC (9) 0 0 - 64 0
Net portfolio holdings of Maiden Lane III LLC (9) 0 0 - 22 0
Net portfolio holdings of TALF LLC (10) 44 0 - 68 44
Float -573 - 79 + 115 -611
Central bank liquidity swaps (11) 206 + 183 - 305 240
Other Federal Reserve assets (12) 29,016 - 715 + 3,585 28,963
Foreign currency denominated assets (13) 22,355 - 205 - 1,821 22,286
Gold stock 11,041 0 0 11,041
Special drawing rights certificate account 5,200 0 0 5,200
Treasury currency outstanding (14) 46,145 + 14 + 811 46,145

Total factors supplying reserve funds 4,492,585 - 10,080 + 709,682 4,493,782

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 Oct 1, 2014
Federal Reserve Banks Oct 1, 2014 Sep 24, 2014 Oct 2, 2013

Currency in circulation (14) 1,289,092 + 799 + 81,824 1,290,878
Reverse repurchase agreements (15) 298,470 + 27,928 + 184,697 311,292
Foreign official and international accounts 100,753 + 464 + 4,785 98,811
Others 197,717 + 27,463 + 179,912 212,481
Treasury cash holdings 163 - 1 - 6 185
Deposits with F.R. Banks, other than reserve balances 135,703 - 11,727 + 50,869 142,737
Term deposits held by depository institutions 0 0 - 11,662 0
U.S. Treasury, General Account 119,237 + 4,409 + 81,276 126,568
Foreign official 5,244 0 - 3,642 5,247
Other (16) 11,222 - 16,137 - 15,103 10,922
Other liabilities and capital (17) 63,441 - 215 - 2,059 62,743

Total factors, other than reserve balances,
absorbing reserve funds 1,786,868 + 16,783 + 315,324 1,807,834

Reserve balances with Federal Reserve Banks 2,705,717 - 26,863 + 394,358 2,685,947

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. The current face value shown is the
remaining principal balance of the securities.
5. Reflects the premium or discount, which is the difference between the purchase price and the face
value of the securities that has not been amortized. For U.S. Treasury and Federal agency debt
securities, amortization is on a straight-line basis. For mortgage-backed securities, amortization is on an
effective-interest basis.
6. Cash value of agreements.
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 7.
9. 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. Refer to the
note on consolidation accompanying table 7.
10. Refer to table 5 and the note on consolidation accompanying table 7.
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 accrued interest, which represents the daily accumulation of interest earned, and other
accounts receivable. Also, includes Reserve Bank premises and equipment net of allowances for
depreciation.
13. Revalued daily at current foreign currency exchange rates.
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 deposits held at the Reserve Banks by international and multilateral organizations,
government-sponsored enterprises, and designated financial market utilities.
17. Includes the liabilities of TALF LLC to entities other than the Federal Reserve Bank of New York,
including liabilities that have recourse only to the portfolio holdings of this LLC. Refer to table 5
and the note on consolidation accompanying table 7. Also includes the liability for interest on
Federal Reserve notes due to U.S. Treasury. Refer to table 6 and table 7.

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
Week ended Change from week ended Oct 1, 2014
Oct 1, 2014 Sep 24, 2014 Oct 2, 2013

Securities held in custody for foreign official and
international accounts 3,344,237 - 15,365 + 53,018 3,335,608
Marketable U.S. Treasury securities (1) 3,010,397 - 13,177 + 75,417 3,000,945
Federal agency debt and mortgage-backed securities (2) 290,776 - 2,318 - 27,239 291,483
Other securities (3) 43,064 + 130 + 4,841 43,180
Securities lent to dealers 13,143 + 42 - 7,037 13,344
Overnight facility (4) 13,143 + 42 - 7,037 13,344
U.S. Treasury securities 12,446 + 128 - 6,729 12,540
Federal agency debt securities 697 - 86 - 308 804

Note: Components may not sum to totals because of rounding.

1. Includes securities and U.S. Treasury STRIPS at face value, and inflation compensation on TIPS.
Does not include securities pledged as collateral to foreign official and international account holders
against reverse repurchase agreements with the Federal Reserve presented in tables 1, 6, and 7.
2. Face value of federal agency securities and current face value of mortgage-backed securities, which
is the remaining principal balance of the securities.
3. Includes non-marketable U.S. Treasury securities, supranationals, corporate bonds, asset-backed
securities, and commercial paper at face value.
4. Face value. Fully collateralized by U.S. Treasury securities.

2. Maturity Distribution of Securities, Loans, and Selected Other Assets and Liabilities, October 1, 2014

Millions of dollars
Remaining Maturity Within 15 16 days to 91 days to Over 1 year Over 5 year Over 10 All
days 90 days 1 year to 5 years to 10 years years

Loans 49 179 0 0 0 ... 228
U.S. Treasury securities (1)
Holdings 0 89 3,194 1,047,868 739,908 660,676 2,451,736
Weekly changes - 1 0 0 + 9,115 - 6,985 + 981 + 3,111
Federal agency debt securities (2)
Holdings 306 1,023 3,584 32,746 0 2,347 40,006
Weekly changes + 306 - 306 0 0 0 0 0
Mortgage-backed securities (3)
Holdings 0 0 0 10 4,715 1,691,699 1,696,424
Weekly changes 0 0 0 0 - 82 - 9,776 - 9,858
Asset-backed securities held by
TALF LLC (4) 0 0 0 0 0 0 0
Repurchase agreements (5) 0 0 ... ... ... ... 0
Central bank liquidity swaps (6) 240 0 0 0 0 0 240

Reverse repurchase agreements (5) 311,292 0 ... ... ... ... 311,292
Term deposits 0 0 0 ... ... ... 0

Note: Components may not sum to totals because of rounding.
...Not applicable.

1. 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.
2. Face value.
3. Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. The current face value shown is the
remaining principal balance of the securities.
4. Face value of asset-backed securities held by TALF LLC, which is the remaining principal balance of
the underlying assets.
5. Cash value of agreements.
6. 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
Account name Wednesday
Oct 1, 2014

Mortgage-backed securities held outright (1) 1,696,424

Commitments to buy mortgage-backed securities (2) 65,466
Commitments to sell mortgage-backed securities (2) 0

Cash and cash equivalents (3) 12

1. Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. The current face value shown is the
remaining principal balance of the securities.
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 6
and table 7.

4. Information on Principal Accounts of Maiden Lane LLC
Millions of dollars
Account name Wednesday
Oct 1, 2014

Net portfolio holdings of Maiden Lane LLC (1) 1,664

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) 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 June 30, 2014. 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 7.
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 6 and table 7.

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. The remaining outstanding balances of the senior
loan from FRBNY to Maiden Lane LLC, and the subordinated loan from JPMorgan Chase & Co. to Maiden Lane LLC were
repaid in full, with interest.

5. Information on Principal Accounts of TALF LLC
Millions of dollars
Account name Wednesday
Oct 1, 2014

Asset-backed securities holdings (1) 0
Other investments, net 44
Net portfolio holdings of TALF LLC 44

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) 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.
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 7.
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 6 and table 7.

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) extended loans with a term of up to five years to
holders of eligible asset-backed securities. The Federal Reserve closed the TALF for new loan extensions in 2010.
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.

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. Prior to January 15, 2013, the U.S. Treasury's
Troubled Asset Relief Program (TARP) committed backup funding to TALF LLC, providing credit protection to the
FRBNY. However, the accumulated fees and income collected through the TALF and held by TALF LLC now exceed the
remaining amount of TALF loans outstanding. Accordingly, the TARP credit protection commitment has been
terminated, and TALF LLC has begun to distribute excess proceeds to the Treasury and the FRBNY. Any remaining funds
will be shared by the FRBNY and the U.S. Treasury.

6. Consolidated Statement of Condition of All Federal Reserve Banks
Millions of dollars
Assets, liabilities, and capital Eliminations Wednesday Change since
from Oct 1, 2014 Wednesday Wednesday
consolidation Sep 24, 2014 Oct 2, 2013

Assets
Gold certificate account 11,037 0 0
Special drawing rights certificate account 5,200 0 0
Coin 1,928 - 7 - 77
Securities, unamortized premiums and discounts,
repurchase agreements, and loans 4,378,809 - 7,441 + 701,930
Securities held outright (1) 4,188,166 - 6,747 + 708,454
U.S. Treasury securities 2,451,736 + 3,111 + 374,809
Bills (2) 0 0 0
Notes and bonds, nominal (2) 2,336,994 + 3,127 + 360,620
Notes and bonds, inflation-indexed (2) 98,188 0 + 10,979
Inflation compensation (3) 16,555 - 15 + 3,210
Federal agency debt securities (2) 40,006 0 - 20,646
Mortgage-backed securities (4) 1,696,424 - 9,858 + 354,291
Unamortized premiums on securities held outright
(5) 209,173 - 538 + 4,986
Unamortized discounts on securities held outright
(5) -18,758 - 53 - 11,483
Repurchase agreements (6) 0 0 0
Loans 228 - 103 - 26
Net portfolio holdings of Maiden Lane LLC (7) 1,664 0 + 171
Net portfolio holdings of Maiden Lane II LLC (8) 0 0 - 64
Net portfolio holdings of Maiden Lane III LLC (8) 0 0 - 22
Net portfolio holdings of TALF LLC (9) 44 0 - 68
Items in process of collection (0) 90 + 11 + 4
Bank premises 2,257 - 3 - 26
Central bank liquidity swaps (10) 240 + 217 - 271
Foreign currency denominated assets (11) 22,286 - 214 - 2,098
Other assets (12) 26,706 - 1,354 + 3,395

Total assets (0) 4,450,260 - 8,790 + 702,873

Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table.

6. Consolidated Statement of Condition of All Federal Reserve Banks (continued)
Millions of dollars
Assets, liabilities, and capital Eliminations Wednesday Change since
from Oct 1, 2014 Wednesday Wednesday
consolidation Sep 24, 2014 Oct 2, 2013

Liabilities
Federal Reserve notes, net of F.R. Bank holdings 1,246,841 + 1,723 + 80,362
Reverse repurchase agreements (13) 311,292 + 49,568 + 215,907
Deposits (0) 2,828,684 - 60,272 + 408,956
Term deposits held by depository institutions 0 0 - 11,662
Other deposits held by depository institutions 2,685,947 - 21,238 + 356,791
U.S. Treasury, General Account 126,568 + 7,663 + 69,035
Foreign official 5,247 + 4 - 3,629
Other (14) (0) 10,922 - 46,701 - 1,578
Deferred availability cash items (0) 701 + 49 - 182
Other liabilities and accrued dividends (15) 6,363 + 131 - 3,665

Total liabilities (0) 4,393,880 - 8,801 + 701,376

Capital accounts
Capital paid in 28,190 + 5 + 749
Surplus 28,190 + 5 + 749
Other capital accounts 0 0 0

Total capital 56,380 + 10 + 1,497

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. The current face value shown is the
remaining principal balance of the securities.
5. Reflects the premium or discount, which is the difference between the purchase price and the face
value of the securities that has not been amortized. For U.S. Treasury and Federal agency debt
securities, amortization is on a straight-line basis. For mortgage-backed securities, amortization is on an
effective-interest basis.
6. Cash value of agreements, which are collateralized by U.S. Treasury and federal agency securities.
7. Refer to table 4 and the note on consolidation accompanying table 7.
8. 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. Refer to the
note on consolidation accompanying table 7.
9. Refer to table 5 and the note on consolidation accompanying table 7.
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. Revalued daily at current foreign currency exchange rates.
12. Includes accrued interest, which represents the daily accumulation of interest earned, and other
accounts receivable.
13. Cash value of agreements, which are collateralized by U.S. Treasury securities, federal agency debt
securities, and mortgage-backed securities.
14. Includes deposits held at the Reserve Banks by international and multilateral organizations,
government-sponsored enterprises, and designated financial market utilities.
15. Includes the liabilities of TALF LLC to entities other than the Federal Reserve Bank of New York,
including liabilities that have recourse only to the portfolio holdings of this LLC. Refer to table 5
and the note on consolidation accompanying table 7. Also includes the liability for interest on
Federal Reserve notes due to U.S. Treasury.

7. Statement of Condition of Each Federal Reserve Bank, October 1, 2014
Millions of dollars
Assets, liabilities, and capital Total Boston New York Philadelphia Cleveland Richmond Atlanta Chicago St. Louis Minneapolis Kansas Dallas San
City Francisco

Assets
Gold certificate account 11,037 352 4,125 338 464 824 1,349 706 278 173 291 880 1,257
Special drawing rights certificate acct. 5,200 196 1,818 210 237 412 654 424 150 90 153 282 574
Coin 1,928 33 93 124 121 317 224 276 24 47 151 183 335
Securities, unamortized premiums and
discounts, repurchase agreements,
and loans 4,378,809 88,571 2,687,428 104,897 95,600 244,722 242,075 178,969 54,051 26,940 57,693 133,424 464,441
Securities held outright (1) 4,188,166 84,719 2,570,544 100,336 91,442 234,079 231,519 171,176 51,658 25,667 55,168 127,615 444,243
U.S. Treasury securities 2,451,736 49,594 1,504,786 58,736 53,530 137,029 135,531 100,206 30,240 15,025 32,295 74,705 260,058
Bills (2) 0 0 0 0 0 0 0 0 0 0 0 0 0
Notes and bonds (3) 2,451,736 49,594 1,504,786 58,736 53,530 137,029 135,531 100,206 30,240 15,025 32,295 74,705 260,058
Federal agency debt securities (2) 40,006 809 24,554 958 873 2,236 2,212 1,635 493 245 527 1,219 4,243
Mortgage-backed securities (4) 1,696,424 34,316 1,041,203 40,641 37,039 94,814 93,777 69,335 20,924 10,396 22,346 51,690 179,941
Unamortized premiums on securities held
outright (5) 209,173 4,231 128,383 5,011 4,567 11,691 11,563 8,549 2,580 1,282 2,755 6,374 22,187
Unamortized discounts on securities
held outright (5) -18,758 -379 -11,513 -449 -410 -1,048 -1,037 -767 -231 -115 -247 -572 -1,990
Repurchase agreements (6) 0 0 0 0 0 0 0 0 0 0 0 0 0
Loans 228 0 14 0 0 0 29 10 44 107 17 7 0
Net portfolio holdings of Maiden
Lane LLC (7) 1,664 0 1,664 0 0 0 0 0 0 0 0 0 0
Net portfolio holdings of Maiden
Lane II LLC (8) 0 0 0 0 0 0 0 0 0 0 0 0 0
Net portfolio holdings of Maiden
Lane III LLC (8) 0 0 0 0 0 0 0 0 0 0 0 0 0
Net portfolio holdings of TALF LLC (9) 44 0 44 0 0 0 0 0 0 0 0 0 0
Items in process of collection 90 0 0 0 0 0 89 0 0 0 0 0 0
Bank premises 2,257 122 435 74 110 221 210 198 123 97 243 224 200
Central bank liquidity swaps (10) 240 11 77 18 19 50 14 7 2 1 3 4 35
Foreign currency denominated
assets (11) 22,286 1,013 7,169 1,675 1,772 4,646 1,281 615 187 94 235 373 3,224
Other assets (12) 26,706 575 16,144 639 586 1,651 1,474 1,086 389 197 375 820 2,770
Interdistrict settlement account 0 + 30,481 - 61,069 - 2,046 + 9,070 - 14,964 + 10,541 - 9,463 - 9,970 - 1,477 - 1,425 + 7,703 + 42,618

Total assets 4,450,260 121,354 2,657,928 105,931 107,979 237,880 257,911 172,818 45,233 26,163 57,718 143,892 515,454

Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table.

7. Statement of Condition of Each Federal Reserve Bank, October 1, 2014 (continued)
Millions of dollars
Assets, liabilities, and capital Total Boston New York Philadelphia Cleveland Richmond Atlanta Chicago St. Louis Minneapolis Kansas Dallas San
City Francisco

Liabilities
Federal Reserve notes outstanding 1,445,148 44,409 484,646 43,474 66,002 102,695 213,830 96,271 38,097 21,064 36,548 116,533 181,578
Less: Notes held by F.R. Banks 198,307 5,412 66,320 6,291 9,275 11,437 22,273 11,423 4,987 3,911 5,379 22,981 28,619
Federal Reserve notes, net 1,246,841 38,998 418,326 37,183 56,728 91,258 191,557 84,848 33,110 17,153 31,170 93,552 152,959
Reverse repurchase agreements (13) 311,292 6,297 191,060 7,458 6,797 17,398 17,208 12,723 3,840 1,908 4,100 9,485 33,019
Deposits 2,828,684 73,306 2,027,050 57,406 39,788 116,554 44,883 73,378 7,624 6,652 21,723 39,653 320,667
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 2,685,947 73,303 1,884,511 57,371 39,785 116,426 44,874 73,371 7,623 6,651 21,721 39,652 320,659
U.S. Treasury, General Account 126,568 0 126,568 0 0 0 0 0 0 0 0 0 0
Foreign official 5,247 2 5,220 3 3 8 2 1 0 0 0 1 6
Other (14) 10,922 1 10,751 32 0 119 7 6 0 0 1 1 3
Deferred availability cash items 701 0 0 0 0 0 610 0 0 91 0 0 0
Interest on Federal Reserve notes due
to U.S. Treasury (15) 1,683 32 1,098 553 18 -441 76 75 25 11 15 55 166
Other liabilities and accrued
dividends (16) 4,680 158 2,008 197 207 511 347 266 132 113 120 191 431

Total liabilities 4,393,880 118,791 2,639,542 102,797 103,537 225,280 254,680 171,289 44,730 25,927 57,128 142,937 507,242

Capital
Capital paid in 28,190 1,282 9,193 1,567 2,221 6,300 1,615 764 252 118 295 478 4,106
Surplus 28,190 1,282 9,193 1,567 2,221 6,300 1,615 764 252 118 295 478 4,106
Other capital 0 0 0 0 0 0 0 0 0 0 0 0 0

Total liabilities and capital 4,450,260 121,354 2,657,928 105,931 107,979 237,880 257,911 172,818 45,233 26,163 57,718 143,892 515,454

Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table.

7. Statement of Condition of Each Federal Reserve Bank, October 1, 2014 (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. The current face value shown is the remaining principal balance of the securities.
5. Reflects the premium or discount, which is the difference between the purchase price and the face value of the securities that has not been amortized. For U.S. Treasury and Federal agency debt
securities, amortization is on a straight-line basis. For mortgage-backed securities, amortization is on an effective-interest basis.
6. Cash value of agreements, which are collateralized by U.S. Treasury and federal agency securities.
7. Refer to table 4 and the note on consolidation below.
8. 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. Refer
to the note on consolidation below.
9. Refer to table 5 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. Revalued daily at current foreign currency exchange rates.
12. Includes accrued interest, which represents the daily accumulation of interest earned, and other accounts receivable.
13. Cash value of agreements, which are collateralized by U.S. Treasury securities, federal agency debt securities, and mortgage-backed securities.
14. Includes deposits held at the Reserve Banks by international and multilateral organizations, government-sponsored enterprises, and designated financial market utilities.
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 TALF LLC to entities other than the Federal Reserve Bank of New York, including liabilities that have recourse only to the portfolio holdings of this LLC. Refer to
table 5 and the note on consolidation below.

Note on consolidation:

The Federal Reserve Bank of New York (FRBNY) 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 June 14, 2012, the remaining outstanding balance of the senior loan from FRBNY to Maiden Lane LLC
was repaid in full, with interest. On November 15, 2012, the remaining outstanding balance of the subordinated loan from JPMorgan Chase & Co. to Maiden Lane LLC was repaid in full, with
interest. 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. had written credit default swap contracts. On June 14, 2012, the loan from FRBNY to Maiden Lane III was repaid in full, with interest. 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 March 1, 2012, the loan from FRBNY to Maiden Lane II was repaid in full, with interest. 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. On January 15, 2013 the FRBNY's commitment to extend credit to TALF LLC was eliminated.

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 6), 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 6).

8. Collateral Held against Federal Reserve Notes: Federal Reserve Agents' Accounts
Millions of dollars
Federal Reserve notes and collateral Wednesday
Oct 1, 2014

Federal Reserve notes outstanding 1,445,148
Less: Notes held by F.R. Banks not subject to collateralization 198,307
Federal Reserve notes to be collateralized 1,246,841
Collateral held against Federal Reserve notes 1,246,841
Gold certificate account 11,037
Special drawing rights certificate account 5,200
U.S. Treasury, agency debt, and mortgage-backed securities pledged (1,2) 1,230,604
Other assets pledged 0
Memo:
Total U.S. Treasury, agency debt, and mortgage-backed securities (1,2) 4,188,166
Less: Face value of securities under reverse repurchase agreements 300,674
U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 3,887,492

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.

Statistical releases