Annual Report 2011

Table 9A. Statement of Condition of the Federal Reserve Banks, by Bank, December 31, 2011 and 2010
Millions of dollars

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.

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Last update: July 11, 2012