Annual Report 2011
Item | Total | Boston | New York | Philadelphia | Cleveland | Richmond | Atlanta | Chicago | St. Louis | Minneapolis | Kansas City | Dallas | San Francisco | |||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
2011 | 2010 | 2011 | 2010 | 2011 | 2010 | 2011 | 2010 | 2011 | 2010 | 2011 | 2010 | 2011 | 2010 | 2011 | 2010 | 2011 | 2010 | 2011 | 2010 | 2011 | 2010 | 2011 | 2010 | 2011 | 2010 | |
Assets | ||||||||||||||||||||||||||
Gold certificate account | 11,037 | 11,037 | 390 | 369 | 3,866 | 4,038 | 432 | 404 | 450 | 463 | 872 | 846 | 1,394 | 1,385 | 854 | 887 | 319 | 324 | 197 | 203 | 318 | 296 | 728 | 652 | 1,217 | 1,170 |
Special drawing rights certificate account | 5,200 | 5,200 | 196 | 196 | 1,818 | 1,818 | 210 | 210 | 237 | 237 | 412 | 412 | 654 | 654 | 424 | 424 | 150 | 150 | 90 | 90 | 153 | 153 | 282 | 282 | 574 | 574 |
Coin | 2,306 | 2,180 | 53 | 47 | 80 | 71 | 160 | 172 | 174 | 164 | 409 | 354 | 205 | 188 | 332 | 336 | 35 | 35 | 60 | 60 | 176 | 161 | 241 | 239 | 381 | 353 |
Loans and securities | ||||||||||||||||||||||||||
Primary, secondary, and seasonal loans | 196 | 221 | 2 | 1 | 9 | 36 | 0 | 0 | 0 | 0 | 5 | 61 | 0 | 14 | 17 | 79 | 0 | 2 | 5 | 8 | 11 | 7 | 132 | 0 | 15 | 14 |
Term Asset-Backed Securities Loan Facility 1 | 9,022 | 24,732 | ... | ... | 9,022 | 24,732 | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... |
Credit extended to American International Group, Inc., net 2 | ... | 20,603 | ... | ... | ... | 20,603 | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... |
Treasury securities, bought outright 3 | 1,663,446 | 1,021,493 | 40,898 | 25,851 | 773,574 | 416,823 | 56,983 | 23,855 | 44,933 | 34,706 | 192,111 | 116,337 | 123,665 | 96,661 | 98,785 | 77,007 | 31,484 | 26,312 | 25,565 | 13,984 | 44,249 | 35,041 | 65,789 | 42,893 | 165,411 | 112,023 |
Government-sponsored enterprise debt securities, bought outright3 | 103,994 | 147,460 | 2,557 | 3,732 | 48,362 | 60,171 | 3,562 | 3,444 | 2,809 | 5,010 | 12,010 | 16,794 | 7,731 | 13,954 | 6,176 | 11,116 | 1,968 | 3,798 | 1,598 | 2,019 | 2,766 | 5,058 | 4,113 | 6,192 | 10,341 | 16,171 |
Federal agency and government-sponsored enterprise mortgage-backed securities, bought outright | 837,683 | 992,141 | 20,596 | 25,108 | 389,559 | 404,846 | 28,696 | 23,169 | 22,628 | 33,709 | 96,744 | 112,994 | 62,276 | 93,884 | 49,746 | 74,794 | 15,855 | 25,556 | 12,874 | 13,582 | 22,283 | 34,034 | 33,130 | 41,660 | 83,298 | 108,804 |
Total loans and securities | 2,614,341 | 2,206,650 | 64,053 | 54,691 | 1,220,525 | 927,212 | 89,241 | 50,468 | 70,370 | 73,425 | 300,870 | 246,186 | 193,672 | 204,513 | 154,723 | 162,996 | 49,307 | 55,668 | 40,041 | 29,593 | 69,309 | 74,141 | 103,165 | 90,745 | 259,065 | 237,013 |
Net portfolio holdings of consolidated variable interest entities 4 | 35,693 | 68,666 | ... | ... | 35,693 | 68,666 | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... |
Preferred interests 5 | ... | 26,385 | ... | ... | ... | 26,385 | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... |
Foreign currency denominated assets 6 | 25,950 | 26,049 | 897 | 959 | 7,516 | 7,560 | 2,514 | 2,847 | 1,925 | 1,941 | 5,321 | 7,253 | 1,487 | 1,606 | 657 | 629 | 211 | 244 | 802 | 723 | 234 | 213 | 393 | 358 | 3,993 | 1,714 |
Central bank liquidity swaps 7 | 99,823 | 75 | 3,450 | 3 | 28,912 | 22 | 9,669 | 8 | 7,405 | 6 | 20,469 | 21 | 5,720 | 5 | 2,529 | 2 | 814 | 1 | 3,083 | 2 | 899 | 1 | 1,512 | 1 | 15,361 | 5 |
Other assets | ||||||||||||||||||||||||||
Items in process of collection | 363 | 510 | 11 | 10 | 0 | 0 | 53 | 74 | 59 | 89 | 4 | 8 | 31 | 149 | 19 | 40 | 5 | 12 | 15 | 69 | 6 | 16 | 17 | 21 | 143 | 22 |
Bank premises | 2,185 | 2,228 | 122 | 126 | 261 | 258 | 67 | 69 | 125 | 140 | 233 | 240 | 214 | 218 | 206 | 209 | 134 | 136 | 105 | 107 | 259 | 265 | 245 | 247 | 213 | 214 |
All other assets 8 | 124,440 | 81,910 | 3,085 | 2,096 | 57,681 | 33,400 | 4,276 | 1,933 | 3,372 | 2,784 | 14,437 | 9,372 | 9,275 | 7,741 | 7,376 | 6,134 | 2,385 | 2,126 | 1,945 | 1,143 | 3,318 | 2,805 | 4,939 | 3,447 | 12,350 | 8,930 |
Interdistrict settlement account | 0 | 0 | 35,147 | 4,414 | 274,474 | 225,756 | -28,084 | 12,749 | -4,966 | -15,854 | -123,650 | -62,496 | -44,538 | -48,131 | -5,416 | -31,780 | -8,856 | -18,011 | -19,268 | -8,382 | -17,589 | -14,671 | 1,679 | -3,007 | -58,932 | -40,587 |
Total assets | 2,921,337 | 2,430,890 | 107,403 | 62,912 | 1,630,826 | 1,295,186 | 78,539 | 68,932 | 79,150 | 63,395 | 219,377 | 202,195 | 168,114 | 168,328 | 161,706 | 139,878 | 44,504 | 40,685 | 27,070 | 23,607 | 57,081 | 63,379 | 113,201 | 92,985 | 234,366 | 209,407 |
Liabilities | ||||||||||||||||||||||||||
Federal Reserve notes outstanding | 1,205,888 | 1,121,643 | 44,207 | 41,012 | 427,406 | 383,595 | 45,940 | 45,360 | 54,131 | 45,905 | 94,381 | 89,693 | 145,803 | 142,659 | 88,894 | 86,072 | 33,916 | 32,240 | 20,976 | 19,855 | 34,479 | 33,041 | 80,188 | 76,154 | 135,566 | 126,059 |
Less: Notes held by Federal Reserve Bank | 171,836 | 180,082 | 4,275 | 4,714 | 50,541 | 64,698 | 6,177 | 4,826 | 9,085 | 7,304 | 10,670 | 12,999 | 29,109 | 20,851 | 11,962 | 12,147 | 4,018 | 4,381 | 5,087 | 5,781 | 3,418 | 3,560 | 11,931 | 11,980 | 25,563 | 26,839 |
Federal Reserve notes outstanding, net | 1,034,052 | 941,561 | 39,932 | 36,297 | 376,865 | 318,897 | 39,763 | 40,533 | 45,046 | 38,601 | 83,711 | 76,694 | 116,694 | 121,807 | 76,932 | 73,925 | 29,899 | 27,858 | 15,889 | 14,074 | 31,061 | 29,481 | 68,258 | 64,174 | 110,003 | 99,219 |
Securities sold under agreements to repurchase 9 | 99,900 | 59,703 | 2,456 | 1,511 | 46,458 | 24,362 | 3,422 | 1,394 | 2,699 | 2,028 | 11,537 | 6,800 | 7,427 | 5,650 | 5,933 | 4,501 | 1,891 | 1,538 | 1,535 | 817 | 2,657 | 2,048 | 3,951 | 2,507 | 9,934 | 6,547 |
Deposits | ||||||||||||||||||||||||||
Depository institutions | 1,562,253 | 968,052 | 62,799 | 22,935 | 1,024,868 | 536,589 | 30,250 | 21,083 | 26,962 | 18,152 | 111,913 | 105,026 | 40,223 | 37,040 | 76,732 | 59,416 | 12,012 | 10,492 | 9,046 | 6,657 | 22,542 | 31,063 | 39,705 | 25,112 | 105,201 | 94,486 |
Treasury, general account | 85,737 | 140,773 | ... | ... | 85,737 | 140,773 | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... |
Treasury, supplementary financing account 10 | 0 | 199,964 | ... | ... | 0 | 199,964 | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... |
Foreign, official accounts | 125 | 3,337 | 1 | 1 | 97 | 3,308 | 4 | 4 | 3 | 3 | 8 | 11 | 2 | 2 | 1 | 1 | 0 | 0 | 1 | 1 | 0 | 0 | 1 | 1 | 6 | 3 |
Other 11 | 64,909 | 13,630 | 27 | 5 | 64,754 | 13,461 | 4 | 1 | 0 | 1 | 81 | 63 | 2 | 2 | 35 | 26 | 0 | 56 | 0 | 3 | 4 | 4 | 1 | 0 | 1 | 8 |
Total deposits | 1,713,023 | 1,325,756 | 62,827 | 22,942 | 1,175,456 | 894,095 | 30,257 | 21,088 | 26,965 | 18,156 | 112,002 | 105,101 | 40,227 | 37,044 | 76,767 | 59,443 | 12,013 | 10,548 | 9,048 | 6,662 | 22,546 | 31,067 | 39,707 | 25,113 | 105,208 | 94,497 |
Other liabilities | ||||||||||||||||||||||||||
Funds from American International Group, Inc. asset disposition, held as agent 12 | ... | 26,896 | ... | ... | ... | 26,896 | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... |
Interest on Federal Reserve notes due to U.S. Treasury 13 | 900 | 5,124 | 51 | 90 | -378 | 1,877 | 78 | 334 | 81 | 26 | 240 | 2,041 | 171 | 248 | 170 | 118 | 53 | 69 | 34 | 37 | 63 | 56 | 88 | 69 | 248 | 158 |
Deferred credit items | 994 | 1,931 | 58 | 71 | 3 | 10 | 109 | 271 | 142 | 410 | 19 | 74 | 57 | 98 | 56 | 151 | 36 | 67 | 194 | 263 | 38 | 81 | 45 | 73 | 237 | 361 |
Consolidated variable interest entities 14 | 10,535 | 10,972 | ... | ... | 10,535 | 10,972 | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... |
All other liabilities 15 | 8,134 | 5,899 | 193 | 168 | 4,533 | 2,712 | 243 | 173 | 240 | 239 | 739 | 608 | 462 | 440 | 413 | 395 | 173 | 173 | 149 | 116 | 182 | 169 | 290 | 245 | 516 | 461 |
Total liabilities | 2,867,539 | 2,377,842 | 105,517 | 61,079 | 1,613,472 | 1,279,822 | 73,872 | 63,794 | 75,173 | 59,460 | 208,249 | 191,318 | 165,037 | 165,288 | 160,271 | 138,534 | 44,064 | 40,253 | 26,851 | 21,969 | 56,546 | 62,902 | 112,339 | 92,181 | 226,147 | 201,244 |
Capital accounts | ||||||||||||||||||||||||||
Capital paid in | 26,899 | 26,524 | 943 | 917 | 8,677 | 7,682 | 2,333 | 2,569 | 1,989 | 1,968 | 5,564 | 5,439 | 1,538 | 1,520 | 718 | 672 | 220 | 216 | 110 | 819 | 268 | 239 | 431 | 402 | 4,109 | 4,082 |
Surplus (including accumulated other comprehensive loss) | 26,899 | 26,524 | 943 | 917 | 8,677 | 7,682 | 2,333 | 2,569 | 1,989 | 1,968 | 5,564 | 5,439 | 1,538 | 1,520 | 718 | 672 | 220 | 216 | 110 | 819 | 268 | 239 | 431 | 402 | 4,109 | 4,082 |
Total liabilities and capital accounts | 2,921,337 | 2,430,890 | 107,403 | 62,912 | 1,630,826 | 1,295,186 | 78,539 | 68,932 | 79,150 | 63,395 | 219,377 | 202,195 | 168,114 | 168,328 | 161,706 | 139,878 | 44,504 | 40,685 | 27,070 | 23,607 | 57,081 | 63,379 | 113,201 | 92,985 | 234,366 | 209,407 |
Note: Components may not sum to totals because of rounding.
1. Includes remaining principal balance. Term Asset-Backed Securities Loan Facility (TALF) loans are recorded at fair value, and the fair value adjustment as of December 31 is reported in "All other assets." Return to table
2. Includes outstanding principal and capitalized interest net of unamortized deferred commitment fees and allowance for loan restructuring. Excludes credit extended to Maiden Lane II LLC and Maiden Lane III LLC. On September 30, 2010, American International Group, Inc. (AIG) announced an agreement with the U.S. Department of the Treasury, the Federal Reserve Bank of New York (FRBNY), and the trustees of the AIG Credit Facility Trust on a recapitalization plan designed to accelerate repayment of its obligations to American taxpayers. The plan resulted in the full repayment and termination of the Reserve Bank's AIG credit facility. Return to table
3. Includes securities loaned--fully collateralized by U.S. Treasury securities, other investment-grade securities, and collateral eligible for tri-party repurchase agreements pledged with Federal Reserve Banks. Return to table
4. The FRBNY is the primary beneficiary of TALF LLC, Maiden Lane LLC, Maiden Lane II LLC, and Maiden Lane III LLC and, as a result, the accounts and results of operations of these entities are included in the combined financial statements of the Federal Reserve Banks. For additional details, see "Table 6. Key financial data for consolidated limited liability companies". Return to table
5. In March 2009, the FRBNY received preferred interests in two special purpose vehicles, AIA Aurora LLC and ALICO Holdings LLC, in exchange for the reduction of the outstanding balance of revolving credit provided to AIG. The preferred interests are recorded at cost. As a result of the closing of the AIG recapitalization plan on January 14, 2011, AIG paid the FRBNY in full for its preferred interests in AIA LLC and ALICO LLC, including accrued dividends. Return to table
6. Valued daily at market exchange rates. Return to table
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. Return to table
8. Includes premiums on securities, accrued interest, the fair value adjustment for TALF loans, and depository institution overdrafts. Return to table
9. Contract amount of agreements. Return to table
10. Represents amounts deposited by the U.S. Treasury that result from a temporary supplementary program that offsets, in part, the reserve impact of the Reserve Banks' lending and liquidity initiatives. Return to table
11. Includes deposits of government-sponsored enterprises, the Consumer Financial Protection Bureau, and international organizations. These deposits are primarily held by the FRBNY. Return to table
12. Pending the closing of the recapitalization plan announced by AIG on September 30, 2010, the cash proceeds from the disposition of certain AIG assets were held by the FRBNY as agent. At the closing of the recapitalization plan, which occurred January 14, 2011, the proceeds were used first to repay in full the credit extended to AIG by the FRBNY under the revolving credit facility and then to redeem a portion of the FRBNY's preferred interests in ALICO Holdings LLC (preferred interests). Return to table
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 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. Return to table
14. The other beneficial interest holder related to the TALF LLC is the U.S. Treasury; to Maiden Lane LLC, it is JPMorgan Chase; and to Maiden Lane II and Maiden Lane III LLCs, it is AIG. Return to table
15. Includes discounts on securities, accrued benefit costs. Return to table
... Not applicable.