FRB: H.4.1 Release--Factors Affecting Reserve Balances--April 23, 2015

FEDERAL RESERVE statistical release

H.4.1

Factors Affecting Reserve Balances of Depository Institutions and
Condition Statement of Federal Reserve Banks April 23, 2015

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 Apr 22, 2015
Federal Reserve Banks Apr 22, 2015 Apr 15, 2015 Apr 23, 2014

Reserve Bank credit 4,447,371 - 1,438 + 201,415 4,451,594
Securities held outright (1) 4,229,038 - 1,820 + 210,106 4,232,885
U.S. Treasury securities 2,459,878 + 113 + 121,622 2,459,920
Bills (2) 0 0 0 0
Notes and bonds, nominal (2) 2,346,709 0 + 118,207 2,346,709
Notes and bonds, inflation-indexed (2) 98,468 - 1 + 3,079 98,468
Inflation compensation (3) 14,701 + 114 + 336 14,743
Federal agency debt securities (2) 35,895 - 842 - 10,466 35,895
Mortgage-backed securities (4) 1,733,265 - 1,091 + 98,950 1,737,070
Unamortized premiums on securities held outright (5) 201,806 - 319 - 8,195 201,775
Unamortized discounts on securities held outright (5) -17,862 + 40 - 309 -17,850
Repurchase agreements (6) 0 0 0 0
Loans 46 + 12 - 62 61
Primary credit 13 + 3 + 3 27
Secondary credit 0 0 0 0
Seasonal credit 33 + 9 + 16 35
Term Asset-Backed Securities Loan Facility (7) 0 0 - 82 0
Other credit extensions 0 0 0 0
Net portfolio holdings of Maiden Lane LLC (8) 1,694 + 2 + 108 1,694
Net portfolio holdings of Maiden Lane II LLC (9) 0 0 - 63 0
Net portfolio holdings of Maiden Lane III LLC (9) 0 0 - 22 0
Net portfolio holdings of TALF LLC (10) 0 0 - 92 0
Float -455 + 90 + 68 -474
Central bank liquidity swaps (11) 0 0 - 407 0
Other Federal Reserve assets (12) 33,103 + 556 + 283 33,502
Foreign currency denominated assets (13) 19,577 + 207 - 4,547 19,500
Gold stock 11,041 0 0 11,041
Special drawing rights certificate account 5,200 0 0 5,200
Treasury currency outstanding (14) 46,629 + 14 + 830 46,629

Total factors supplying reserve funds 4,529,817 - 1,218 + 197,697 4,533,964

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 Apr 22, 2015
Federal Reserve Banks Apr 22, 2015 Apr 15, 2015 Apr 23, 2014

Currency in circulation (14) 1,359,665 - 2,108 + 89,535 1,359,639
Reverse repurchase agreements (15) 260,168 + 21,452 + 49,496 275,390
Foreign official and international accounts 156,053 + 2,401 + 51,012 161,242
Others 104,115 + 19,051 - 1,517 114,148
Treasury cash holdings 232 + 2 - 6 222
Deposits with F.R. Banks, other than reserve balances 164,456 + 94,292 + 18,055 214,960
Term deposits held by depository institutions 0 0 0 0
U.S. Treasury, General Account 150,028 + 99,581 + 38,634 201,073
Foreign official 5,238 + 8 - 1,860 5,231
Other (16) 9,189 - 5,297 - 18,719 8,656
Other liabilities and capital (17) 66,249 - 589 + 2,703 66,375

Total factors, other than reserve balances,
absorbing reserve funds 1,850,770 + 113,049 + 159,783 1,916,585

Reserve balances with Federal Reserve Banks 2,679,047 - 114,267 + 37,915 2,617,379

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 6.
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 6.
10. Refer to the note on consolidation accompanying table 6.
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 liability for interest on Federal Reserve notes due to U.S. Treasury.

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 Apr 22, 2015
Apr 22, 2015 Apr 15, 2015 Apr 23, 2014

Securities held in custody for foreign official and
international accounts 3,288,639 - 120 - 6,207 3,282,790
Marketable U.S. Treasury securities (1) 2,964,038 + 3,599 + 6,968 2,956,028
Federal agency debt and mortgage-backed securities (2) 280,771 - 3,979 - 14,512 283,187
Other securities (3) 43,830 + 260 + 1,336 43,575
Securities lent to dealers 9,592 - 903 - 2,468 8,778
Overnight facility (4) 9,592 - 903 - 2,468 8,778
U.S. Treasury securities 9,283 - 896 - 1,684 8,472
Federal agency debt securities 310 - 7 - 784 306

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, 5, and 6.
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, April 22, 2015

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 60 1 0 0 0 ... 61
U.S. Treasury securities (1)
Holdings 450 1,449 64,211 1,112,528 637,983 643,299 2,459,920
Weekly changes 0 0 + 389 - 373 + 22 + 76 + 114
Federal agency debt securities (2)
Holdings 0 802 7,997 24,749 0 2,347 35,895
Weekly changes 0 + 802 + 1,359 - 2,161 0 0 0
Mortgage-backed securities (3)
Holdings 0 0 0 20 8,969 1,728,081 1,737,070
Weekly changes 0 0 0 0 + 367 + 2,269 + 2,636
Repurchase agreements (4) 0 0 ... ... ... ... 0
Central bank liquidity swaps (5) 0 0 0 0 0 0 0

Reverse repurchase agreements (4) 275,390 0 ... ... ... ... 275,390
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. Cash value of agreements.
5. 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
Apr 22, 2015

Mortgage-backed securities held outright (1) 1,737,070

Commitments to buy mortgage-backed securities (2) 34,751
Commitments to sell mortgage-backed securities (2) 0

Cash and cash equivalents (3) 2

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 5
and table 6.

4. Information on Principal Accounts of Maiden Lane LLC
Millions of dollars
Account name Wednesday
Apr 22, 2015

Net portfolio holdings of Maiden Lane LLC (1) 1,694

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 December 31, 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 6.
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 5 and table 6.

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. Consolidated Statement of Condition of All Federal Reserve Banks
Millions of dollars
Assets, liabilities, and capital Eliminations Wednesday Change since
from Apr 22, 2015 Wednesday Wednesday
consolidation Apr 15, 2015 Apr 23, 2014

Assets
Gold certificate account 11,037 0 0
Special drawing rights certificate account 5,200 0 0
Coin 1,809 - 4 - 94
Securities, unamortized premiums and discounts,
repurchase agreements, and loans 4,416,872 + 2,462 + 198,450
Securities held outright (1) 4,232,885 + 2,750 + 207,018
U.S. Treasury securities 2,459,920 + 114 + 118,152
Bills (2) 0 0 0
Notes and bonds, nominal (2) 2,346,709 0 + 114,730
Notes and bonds, inflation-indexed (2) 98,468 0 + 3,079
Inflation compensation (3) 14,743 + 114 + 344
Federal agency debt securities (2) 35,895 0 - 9,070
Mortgage-backed securities (4) 1,737,070 + 2,636 + 97,936
Unamortized premiums on securities held outright
(5) 201,775 - 344 - 8,300
Unamortized discounts on securities held outright
(5) -17,850 + 32 - 224
Repurchase agreements (6) 0 0 0
Loans 61 + 23 - 45
Net portfolio holdings of Maiden Lane LLC (7) 1,694 0 + 109
Net portfolio holdings of Maiden Lane II LLC (8) 0 0 - 63
Net portfolio holdings of Maiden Lane III LLC (8) 0 0 - 22
Net portfolio holdings of TALF LLC (9) 0 0 - 92
Items in process of collection (0) 80 - 16 - 11
Bank premises 2,245 + 2 - 27
Central bank liquidity swaps (10) 0 0 - 407
Foreign currency denominated assets (11) 19,500 + 102 - 4,640
Other assets (12) 31,259 + 1,783 + 154

Total assets (0) 4,489,695 + 4,329 + 193,356

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

5. Consolidated Statement of Condition of All Federal Reserve Banks (continued)
Millions of dollars
Assets, liabilities, and capital Eliminations Wednesday Change since
from Apr 22, 2015 Wednesday Wednesday
consolidation Apr 15, 2015 Apr 23, 2014

Liabilities
Federal Reserve notes, net of F.R. Bank holdings 1,315,038 - 2,040 + 87,920
Reverse repurchase agreements (13) 275,390 + 47,739 + 18,858
Deposits (0) 2,832,339 - 42,054 + 82,852
Term deposits held by depository institutions 0 0 0
Other deposits held by depository institutions 2,617,380 - 131,575 + 33,665
U.S. Treasury, General Account 201,073 + 89,522 + 50,848
Foreign official 5,231 0 - 2,572
Other (14) (0) 8,656 0 + 913
Deferred availability cash items (0) 554 - 34 - 101
Other liabilities and accrued dividends (15) 8,673 + 706 + 2,243

Total liabilities (0) 4,431,993 + 4,316 + 191,771

Capital accounts
Capital paid in 28,851 + 7 + 792
Surplus 28,851 + 7 + 792
Other capital accounts 0 0 0

Total capital 57,702 + 13 + 1,584

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 6.
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 6.
9. Refer to the note on consolidation accompanying table 6.
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 liability for interest on Federal Reserve notes due to U.S. Treasury.

6. Statement of Condition of Each Federal Reserve Bank, April 22, 2015
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 11,037 347 3,709 340 505 783 1,600 734 299 171 288 891 1,370
Special drawing rights certificate acct. 5,200 196 1,818 210 237 412 654 424 150 90 153 282 574
Coin 1,809 39 69 126 112 297 187 269 24 44 149 175 316
Securities, unamortized premiums and
discounts, repurchase agreements,
and loans 4,416,872 111,973 2,651,468 109,853 106,191 239,893 248,737 164,113 46,061 26,878 57,381 142,282 512,043
Securities held outright (1) 4,232,885 107,302 2,541,052 105,279 101,769 229,903 238,363 157,271 44,143 25,743 54,987 136,355 490,720
U.S. Treasury securities 2,459,920 62,358 1,476,720 61,182 59,142 133,607 138,523 91,397 25,653 14,960 31,956 79,242 285,180
Bills (2) 0 0 0 0 0 0 0 0 0 0 0 0 0
Notes and bonds (3) 2,459,920 62,358 1,476,720 61,182 59,142 133,607 138,523 91,397 25,653 14,960 31,956 79,242 285,180
Federal agency debt securities (2) 35,895 910 21,548 893 863 1,950 2,021 1,334 374 218 466 1,156 4,161
Mortgage-backed securities (4) 1,737,070 44,034 1,042,784 43,204 41,763 94,346 97,818 64,540 18,115 10,564 22,565 55,957 201,379
Unamortized premiums on securities held
outright (5) 201,775 5,115 121,128 5,018 4,851 10,959 11,362 7,497 2,104 1,227 2,621 6,500 23,392
Unamortized discounts on securities
held outright (5) -17,850 -452 -10,715 -444 -429 -969 -1,005 -663 -186 -109 -232 -575 -2,069
Repurchase agreements (6) 0 0 0 0 0 0 0 0 0 0 0 0 0
Loans 61 9 3 0 0 0 17 9 0 16 4 3 0
Net portfolio holdings of Maiden
Lane LLC (7) 1,694 0 1,694 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) 0 0 0 0 0 0 0 0 0 0 0 0 0
Items in process of collection 80 0 0 0 0 0 79 0 0 0 0 0 0
Bank premises 2,245 125 432 74 109 218 210 202 120 95 240 221 199
Central bank liquidity swaps (10) 0 0 0 0 0 0 0 0 0 0 0 0 0
Foreign currency denominated
assets (11) 19,500 884 6,287 1,089 1,520 4,474 1,109 524 182 82 205 281 2,863
Other assets (12) 31,259 834 18,244 790 765 1,877 1,779 1,171 409 221 443 1,099 3,627
Interdistrict settlement account 0 + 11,186 - 75,396 + 2,532 + 15,198 + 6,503 - 8,957 + 7,692 + 4,725 + 5,723 + 6,637 + 11,716 + 12,441

Total assets 4,489,695 125,583 2,608,324 115,015 124,637 254,457 245,398 175,129 51,969 33,304 65,497 156,949 533,433

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

6. Statement of Condition of Each Federal Reserve Bank, April 22, 2015 (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 1,498,851 50,582 476,077 50,354 76,593 104,208 209,925 106,504 44,804 26,809 42,068 121,024 189,905
Less: Notes held by F.R. Banks 183,814 5,459 60,763 5,503 9,823 12,638 24,390 12,041 5,202 2,979 5,025 14,424 25,569
Federal Reserve notes, net 1,315,038 45,123 415,314 44,852 66,769 91,570 185,535 94,464 39,602 23,830 37,043 106,600 164,336
Reverse repurchase agreements (13) 275,390 6,981 165,320 6,849 6,621 14,957 15,508 10,232 2,872 1,675 3,577 8,871 31,926
Deposits 2,832,339 70,636 2,004,314 59,806 46,469 134,055 40,206 68,482 8,780 7,192 24,115 40,340 327,946
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 2,617,380 70,631 1,789,623 59,777 46,466 133,850 40,197 68,479 8,780 7,192 24,113 40,337 327,936
U.S. Treasury, General Account 201,073 0 201,073 0 0 0 0 0 0 0 0 0 0
Foreign official 5,231 2 5,204 2 3 9 2 1 0 0 0 1 6
Other (14) 8,656 3 8,414 27 0 196 7 2 0 0 1 2 4
Deferred availability cash items 554 0 0 0 0 0 351 0 0 202 0 0 0
Interest on Federal Reserve notes due
to U.S. Treasury (15) 2,061 56 1,217 54 51 111 127 75 26 9 24 69 242
Other liabilities and accrued
dividends (16) 6,612 197 3,448 233 248 622 402 300 139 140 134 221 527

Total liabilities 4,431,993 122,993 2,589,613 111,794 120,158 241,316 242,129 173,553 51,419 33,049 64,892 156,101 524,977

Capital
Capital paid in 28,851 1,295 9,356 1,611 2,239 6,571 1,634 788 275 128 302 424 4,228
Surplus 28,851 1,295 9,356 1,611 2,239 6,571 1,634 788 275 128 302 424 4,228
Other capital 0 0 0 0 0 0 0 0 0 0 0 0 0

Total liabilities and capital 4,489,695 125,583 2,608,324 115,015 124,637 254,457 245,398 175,129 51,969 33,304 65,497 156,949 533,433

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

6. Statement of Condition of Each Federal Reserve Bank, April 22, 2015 (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 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.

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 was the primary beneficiary of TALF LLC, because of the two beneficiaries of the LLC, the FRBNY and the U.S. Treasury, the FRBNY was primarily responsible for directing the
financial activities of TALF LLC. The FRBNY was the primary beneficiary of the other LLCs cited above because it received a majority of any residual returns of the LLCs and absorbed a majority of any
residual losses of the LLCs. Consistent with generally accepted accounting principles, the assets and liabilities of these LLCs were 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 were eliminated, the net
assets of the LLCs appeared as assets on the previous page (and in table 1 and table 5), and the liabilities of the LLCs to entities other than the FRBNY, including those with recourse only to
the portfolio holdings of the LLCs, were included in other liabilities in this table (and table 1 and table 5).

7. Collateral Held against Federal Reserve Notes: Federal Reserve Agents' Accounts
Millions of dollars
Federal Reserve notes and collateral Wednesday
Apr 22, 2015

Federal Reserve notes outstanding 1,498,851
Less: Notes held by F.R. Banks not subject to collateralization 183,814
Federal Reserve notes to be collateralized 1,315,038
Collateral held against Federal Reserve notes 1,315,038
Gold certificate account 11,037
Special drawing rights certificate account 5,200
U.S. Treasury, agency debt, and mortgage-backed securities pledged (1,2) 1,298,801
Other assets pledged 0
Memo:
Total U.S. Treasury, agency debt, and mortgage-backed securities (1,2) 4,232,885
Less: Face value of securities under reverse repurchase agreements 261,209
U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 3,971,676

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