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FEDERAL RESERVE statistical release
H.4.1
Factors Affecting Reserve Balances of Depository Institutions and
Condition Statement of Federal Reserve Banks
May 20, 2010
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 May 19, 2010
Federal Reserve Banks May 19, 2010 May 12, 2010 May 20, 2009
Reserve Bank credit 2,339,071 + 28,883 + 173,956 2,333,366
Securities held outright (1) 2,065,529 + 23,062 + 979,929 2,063,896
U.S. Treasury securities 776,819 + 43 + 196,253 776,834
Bills (2) 18,423 0 0 18,423
Notes and bonds, nominal (2) 712,023 0 + 195,795 712,023
Notes and bonds, inflation-indexed (2) 41,125 0 - 128 41,125
Inflation compensation (3) 5,247 + 43 + 586 5,263
Federal agency debt securities (2) 167,747 - 365 + 93,198 167,577
Mortgage-backed securities (4) 1,120,963 + 23,384 + 690,478 1,119,485
Repurchase agreements (5) 0 0 0 0
Term auction credit 0 0 - 428,835 0
Other loans 76,232 - 954 - 51,699 75,861
Primary credit 5,114 - 36 - 33,041 4,627
Secondary credit 400 - 86 + 380 400
Seasonal credit 44 + 1 + 33 47
Asset-Backed Commercial Paper Money Market
Mutual Fund Liquidity Facility 0 0 - 28,121 0
Credit extended to American International
Group, Inc., net (6) 26,176 - 632 - 19,532 26,296
Term Asset-Backed Securities Loan Facility (7) 44,497 - 202 + 28,582 44,491
Other credit extensions 0 0 0 0
Net portfolio holdings of Commercial Paper
Funding Facility LLC (8) 2 0 - 160,779 2
Net portfolio holdings of Maiden Lane LLC (9) 28,269 + 8 + 2,577 28,308
Net portfolio holdings of Maiden Lane II LLC (10) 15,842 + 3 - 310 15,847
Net portfolio holdings of Maiden Lane III LLC (11) 23,363 + 64 + 3,050 23,372
Net portfolio holdings of TALF LLC (12) 439 0 + 439 439
Preferred interests in AIA Aurora LLC and ALICO
Holdings LLC (13) 25,416 0 + 25,416 25,416
Float -1,894 - 11 + 99 -2,129
Central bank liquidity swaps (14) 9,205 + 7,890 - 227,254 9,205
Other Federal Reserve assets (15) 96,669 - 1,179 + 31,323 93,148
Gold stock 11,041 0 0 11,041
Special drawing rights certificate account 5,200 0 + 3,000 5,200
Treasury currency outstanding (16) 42,843 + 14 + 517 42,843
Total factors supplying reserve funds 2,398,155 + 28,897 + 177,473 2,392,450
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 May 19, 2010
Federal Reserve Banks May 19, 2010 May 12, 2010 May 20, 2009
Currency in circulation (16) 937,574 - 61 + 32,805 938,179
Reverse repurchase agreements (17) 56,326 + 2,085 - 13,442 55,764
Foreign official and international accounts 56,326 + 2,085 - 13,442 55,764
Dealers 0 0 0 0
Treasury cash holdings 187 + 2 - 105 194
Deposits with F.R. Banks, other than reserve balances 238,515 - 3,144 - 22,710 234,635
U.S. Treasury, general account 21,159 - 13,146 - 28,679 30,213
U.S. Treasury, supplementary financing account 199,959 + 1 + 29 199,959
Foreign official 1,604 + 124 - 1,111 1,478
Service-related 2,663 - 2 - 1,679 2,663
Required clearing balances 2,663 - 2 - 1,679 2,663
Adjustments to compensate for float 0 0 0 0
Other 13,130 + 9,879 + 8,730 322
Other liabilities and capital (18) 73,355 + 2,660 + 22,985 70,963
Total factors, other than reserve balances,
absorbing reserve funds 1,305,956 + 1,541 + 19,533 1,299,734
Reserve balances with Federal Reserve Banks 1,092,199 + 27,356 + 157,940 1,092,716
Note: Components may not sum to totals because of rounding.
1. Includes securities lent to dealers under the overnight and term securities lending facilities; 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 outstanding principal and capitalized interest net of unamortized deferred commitment fees and
allowance for loan restructuring. Excludes credit extended to consolidated LLCs.
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 7 and the note on consolidation accompanying table 11.
9. Refer to table 4 and the note on consolidation accompanying table 11.
10. Refer to table 5 and the note on consolidation accompanying table 11.
11. Refer to table 6 and the note on consolidation accompanying table 11.
12. Refer to table 8 and the note on consolidation accompanying table 11.
13. Refer to table 9.
14. 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.
15. Includes other assets denominated in foreign currencies, which are revalued daily at market exchange
rates, accrued dividends on the Federal Reserve Bank of New York's (FRBNY) preferred interests in AIA
Aurora LLC and ALICO Holdings LLC, and the fair value adjustment to credit extended by the FRBNY to
eligible borrowers through the Term Asset-Backed Securities Loan Facility.
16. Estimated.
17. Cash value of agreements, which are collateralized by U.S. Treasury securities and federal agency debt
securities.
18. Includes the liabilities of Commercial Paper Funding Facility LLC, 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 8 and the note on consolidation accompanying table 11.
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 May 19, 2010
Memorandum item May 19, 2010 May 12, 2010 May 20, 2009
Marketable securities held in custody for foreign
official and international accounts (1) 3,056,634 - 7,138 + 347,063 3,059,194
U.S. Treasury securities 2,261,485 - 11,588 + 367,393 2,262,707
Federal agency securities (2) 795,149 + 4,450 - 20,330 796,486
Securities lent to dealers 4,084 + 852 - 32,634 4,762
Overnight facility (3) 4,084 + 852 - 84 4,762
U.S. Treasury securities 2,836 + 785 - 1,332 3,508
Federal agency debt securities 1,249 + 69 + 1,249 1,254
Term facility (4) 0 0 - 32,550 0
Note: Components may not sum to totals because of rounding.
1. Face value of the securities. Includes U.S. Treasury STRIPS, other zero-coupon bonds, and mortgage-backed
securities at face value.
2. Includes debt and mortgage-backed securities.
3. Fully collateralized by U.S. Treasury securities.
4. U.S. Treasury securities only. Fully collateralized by U.S. Treasury securities, federal agency
securities, and other highly rated debt securities.
2. Maturity Distribution of Securities, Loans, and Selected Other Assets and Liabilities, May 19, 2010
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
Other loans (1) 5,073 1 0 70,787 0 ... 75,861
U.S. Treasury securities (2)
Holdings 17,097 15,271 46,915 340,378 213,483 143,691 776,834
Weekly changes - 2,186 - 181 - 4,427 + 12,836 - 4,760 - 1,240 + 42
Federal agency debt securities (3)
Holdings 862 9,504 37,335 83,981 33,548 2,347 167,577
Weekly changes + 127 + 1,508 + 3,072 - 5,242 0 0 - 535
Mortgage-backed securities (4)
Holdings 0 0 0 32 20 1,119,433 1,119,485
Weekly changes 0 0 0 - 1 0 + 21,131 + 21,130
Commercial paper held by
Commercial Paper Funding
Facility LLC (5) 0 0 0 ... ... ... 0
Asset-backed securities held by
TALF LLC (6) 0 0 0 0 0 0 0
Repurchase agreements (7) 0 0 ... ... ... ... 0
Central bank liquidity swaps (8) 9,205 0 0 0 0 0 9,205
Reverse repurchase agreements (7) 55,764 0 ... ... ... ... 55,764
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 Commercial Paper Funding Facility LLC, 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 commercial paper held by Commercial Paper Funding Facility LLC.
6. Face value of asset-backed securities held by TALF LLC, which is the remaining principal balance of the underlying assets.
7. Cash value of agreements.
8. 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 Purchase Program
Millions of dollars
Wednesday
Account name May 19, 2010
Mortgage-backed securities held outright (1) 1,119,485
Commitments to buy mortgage-backed securities (2) 38,230
Commitments to sell mortgage-backed securities (2) 0
Cash and cash equivalents (3) 624
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 as well as
dollar rolls.
3. This amount is included in other Federal Reserve assets in table 1 and in other assets in table 10 and table 11.
4. Information on Principal Accounts of Maiden Lane LLC
Millions of dollars
Wednesday
Account name May 19, 2010
Net portfolio holdings of Maiden Lane LLC (1) 28,308
Outstanding principal amount of loan extended by the Federal Reserve Bank of New York (2) 28,820
Accrued interest payable to the Federal Reserve Bank of New York (2) 487
Outstanding principal amount and accrued interest on loan payable to JPMorgan Chase & Co. (3) 1,273
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, 2010. 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 11.
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 10 and table 11.
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 May 19, 2010
Net portfolio holdings of Maiden Lane II LLC (1) 15,847
Outstanding principal amount of loan extended by the Federal Reserve Bank of New York (2) 14,532
Accrued interest payable to the Federal Reserve Bank of New York (2) 338
Deferred payment and accrued interest payable to subsidiaries of American International Group, Inc. (3) 1,049
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, 2010. 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 11.
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
10 and table 11.
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 May 19, 2010
Net portfolio holdings of Maiden Lane III LLC (1) 23,372
Outstanding principal amount of loan extended by the Federal Reserve Bank of New York (2) 16,206
Accrued interest payable to the Federal Reserve Bank of New York (2) 423
Outstanding principal amount and accrued interest on loan payable to American International Group, Inc. (3) 5,257
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, 2010. 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 11.
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 10 and table 11.
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 Commercial Paper Funding Facility LLC
Millions of dollars
Wednesday
Account name May 19, 2010
Commercial paper holdings, net (1) 0
Other investments, net 2
Net portfolio holdings of Commercial Paper Funding Facility LLC 2
Memorandum: Commercial paper holdings, face value 0
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
1. Book value, which includes amortized cost and related fees.
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 11.
Note: On October 27, 2008, the Federal Reserve Bank of New York began extending loans under the authority of section 13(3) of the
Federal Reserve Act to Commercial Paper Funding Facility LLC. This LLC is a limited liability company formed to purchase three-month
U.S. dollar-denominated commercial paper from eligible issuers and thereby foster liquidity in short-term funding markets and
increase the availability of credit for businesses and households.
8. Information on Principal Accounts of TALF LLC
Millions of dollars
Wednesday
Account name May 19, 2010
Asset-backed securities holdings (1) 0
Other investments, net 439
Net portfolio holdings of TALF LLC 439
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) 104
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 11.
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 10 and table 11.
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 $20 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.
9. Supplemental Information on the Federal Reserve Bank of New York's Preferred Interests in
AIA Aurora LLC and ALICO Holdings LLC
Millions of dollars
Wednesday
Account name May 19, 2010
Preferred interests in AIA Aurora LLC and ALICO Holdings LLC (1) 25,416
Accrued dividends on preferred interests in AIA Aurora LLC and ALICO Holdings LLC (2) 171
Preferred interests in AIA Aurora LLC (1) 16,266
Accrued dividends on preferred interests in AIA Aurora LLC (2) 109
Preferred interests in ALICO Holdings LLC (1) 9,150
Accrued dividends on preferred interests in ALICO Holdings LLC (2) 61
Note: Components may not sum to totals because of rounding.
1. Book value.
2. This amount is included in other Federal Reserve assets in table 1 and in other assets in table 10 and table 11.
Note on preferred interests:
In conjunction with the restructuring of the government's assistance to American International Group, Inc. (AIG) announced March 2,
2009, the outstanding balance and amount available of revolving credit provided to AIG by the FRBNY has been reduced in exchange for
preferred interests in two special purpose vehicles, AIA Aurora LLC and ALICO Holdings LLC. These two limited liability companies
were created to directly or indirectly hold all of the outstanding common stock of American International Assurance Company Ltd.
(AIA) and American Life Insurance Company (ALICO), two life insurance subsidiaries of AIG. AIG will retain control of AIA Aurora LLC
and ALICO Holdings LLC, and the FRBNY will have certain consent, disposition, and conversion rights with respect to its preferred
interests.
Dividends accrue as a percentage of the FRBNY's preferred interests in AIA Aurora LLC and ALICO Holdings LLC. On a quarterly basis,
the accrued dividends are capitalized and added to the FRBNY's preferred interests in AIA Aurora LLC and ALICO Holdings LLC.
10. Consolidated Statement of Condition of All Federal Reserve Banks
Millions of dollars
Eliminations from Wednesday Change since
consolidation May 19, 2010 Wednesday Wednesday
Assets, liabilities, and capital May 12, 2010 May 20, 2009
Assets
Gold certificate account 11,037 0 0
Special drawing rights certificate account 5,200 0 + 3,000
Coin 2,042 - 23 + 224
Securities, repurchase agreements, term auction
credit, and other loans 2,139,758 + 19,864 + 493,148
Securities held outright (1) 2,063,896 + 20,638 + 972,470
U.S. Treasury securities 776,834 + 42 + 193,563
Bills (2) 18,423 0 0
Notes and bonds, nominal (2) 712,023 0 + 193,098
Notes and bonds, inflation-indexed (2) 41,125 0 - 128
Inflation compensation (3) 5,263 + 43 + 592
Federal agency debt securities (2) 167,577 - 535 + 90,903
Mortgage-backed securities (4) 1,119,485 + 21,130 + 688,005
Repurchase agreements (5) 0 0 0
Term auction credit 0 0 - 428,835
Other loans 75,861 - 775 - 50,488
Net portfolio holdings of Commercial Paper
Funding Facility LLC (6) 2 0 - 157,081
Net portfolio holdings of Maiden Lane LLC (7) 28,308 + 46 + 2,625
Net portfolio holdings of Maiden Lane II LLC (8) 15,847 + 6 - 316
Net portfolio holdings of Maiden Lane III LLC (9) 23,372 + 11 + 3,007
Net portfolio holdings of TALF LLC (10) 439 0 + 439
Preferred interests in AIA Aurora LLC and ALICO
Holdings LLC (11) 25,416 0 + 25,416
Items in process of collection (44) 229 + 69 - 178
Bank premises 2,238 + 1 + 42
Central bank liquidity swaps (12) 9,205 0 - 225,907
Other assets (13) 91,271 - 5,157 + 26,784
Total assets (44) 2,354,364 + 14,817 + 171,203
Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table.
10. Consolidated Statement of Condition of All Federal Reserve Banks (continued)
Millions of dollars
Eliminations from Wednesday Change since
consolidation May 19, 2010 Wednesday Wednesday
Assets, liabilities, and capital May 12, 2010 May 20, 2009
Liabilities
Federal Reserve notes, net of F.R. Bank holdings 897,568 - 1,113 + 31,103
Reverse repurchase agreements (14) 55,764 - 883 - 11,994
Deposits (0) 1,327,711 + 16,869 + 131,749
Depository institutions 1,095,739 + 2,894 + 140,519
U.S. Treasury, general account 30,213 + 13,920 - 7,716
U.S. Treasury, supplementary financing account 199,959 + 1 + 29
Foreign official 1,478 + 65 - 1,123
Other (0) 322 - 11 + 40
Deferred availability cash items (44) 2,359 - 13 - 445
Other liabilities and accrued dividends (15) 15,941 - 269 + 9,573
Total liabilities (44) 2,299,342 + 14,589 + 159,985
Capital accounts
Capital paid in 26,423 + 37 + 2,596
Surplus 25,636 + 22 + 7,092
Other capital accounts 2,964 + 170 + 1,531
Total capital 55,022 + 228 + 11,218
Note: Components may not sum to totals because of rounding.
1. Includes securities lent to dealers under the overnight and term securities lending facilities; 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 7 and the note on consolidation accompanying table 11.
7. Refer to table 4 and the note on consolidation accompanying table 11.
8. Refer to table 5 and the note on consolidation accompanying table 11.
9. Refer to table 6 and the note on consolidation accompanying table 11.
10. Refer to table 8 and the note on consolidation accompanying table 11.
11. Refer to table 9.
12. 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.
13. Includes other assets denominated in foreign currencies, which are revalued daily at market exchange rates,
accrued dividends on the Federal Reserve Bank of New York's (FRBNY) preferred interests in AIA Aurora LLC
and ALICO Holdings LLC, and the fair value adjustment to credit extended by the FRBNY to eligible borrowers
through the Term Asset-Backed Securities Loan Facility.
14. Cash value of agreements, which are collateralized by U.S. Treasury securities and federal agency debt
securities.
15. Includes the liabilities of Commercial Paper Funding Facility LLC, 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
8 and the note on consolidation accompanying table 11.
11. Statement of Condition of Each Federal Reserve Bank, May 19, 2010
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 11,037 369 4,038 404 463 846 1,385 887 324 203 296 652 1,170
Special drawing rights certificate acct. 5,200 196 1,818 210 237 412 654 424 150 90 153 282 574
Coin 2,042 71 79 167 147 298 187 322 27 65 144 199 337
Securities, repurchase agreements,
term auction credit, and other
loans 2,139,758 52,232 917,917 48,221 70,122 235,056 195,329 155,610 53,167 28,276 70,803 86,666 226,358
Securities held outright (1) 2,063,896 52,230 842,179 48,198 70,122 235,056 195,302 155,590 53,162 28,254 70,800 86,664 226,340
U.S. Treasury securities 776,834 19,659 316,990 18,141 26,393 88,473 73,510 58,563 20,010 10,635 26,649 32,620 85,192
Bills (2) 18,423 466 7,517 430 626 2,098 1,743 1,389 475 252 632 774 2,020
Notes and bonds (3) 758,412 19,193 309,472 17,711 25,768 86,375 71,767 57,174 19,535 10,382 26,017 31,846 83,172
Federal agency debt securities (2) 167,577 4,241 68,380 3,913 5,694 19,085 15,857 12,633 4,316 2,294 5,749 7,037 18,378
Mortgage-backed securities (4) 1,119,485 28,330 456,809 26,143 38,035 127,497 105,934 84,394 28,836 15,326 38,403 47,008 122,770
Repurchase agreements (5) 0 0 0 0 0 0 0 0 0 0 0 0 0
Term auction credit 0 0 0 0 0 0 0 0 0 0 0 0 0
Other loans 75,861 2 75,738 23 0 0 27 20 4 22 3 2 18
Net portfolio holdings of Commercial
Paper Funding Facility LLC (6) 2 0 2 0 0 0 0 0 0 0 0 0 0
Net portfolio holdings of Maiden
Lane LLC (7) 28,308 0 28,308 0 0 0 0 0 0 0 0 0 0
Net portfolio holdings of Maiden
Lane II LLC (8) 15,847 0 15,847 0 0 0 0 0 0 0 0 0 0
Net portfolio holdings of Maiden
Lane III LLC (9) 23,372 0 23,372 0 0 0 0 0 0 0 0 0 0
Net portfolio holdings of TALF LLC (10) 439 0 439 0 0 0 0 0 0 0 0 0 0
Preferred interests in AIA Aurora LLC
and ALICO Holdings LLC (11) 25,416 0 25,416 0 0 0 0 0 0 0 0 0 0
Items in process of collection 273 11 0 21 57 5 62 20 4 26 9 39 20
Bank premises 2,238 123 260 70 143 238 220 211 136 109 266 250 212
Central bank liquidity swaps (12) 9,205 339 2,672 1,006 686 2,563 568 222 86 256 75 127 606
Other assets (13) 91,271 2,593 34,739 4,166 4,041 14,245 7,780 5,584 1,978 1,602 2,498 3,155 8,890
Interdistrict settlement account 0 - 10,285 + 108,814 + 20,290 - 18,366 + 56,882 - 52,816 - 41,407 - 16,579 + 20,816 - 22,214 - 15,424 - 29,711
Total assets 2,354,408 45,649 1,163,721 74,554 57,530 310,544 153,368 121,873 39,292 51,444 52,031 75,946 208,456
Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table.
11. Statement of Condition of Each Federal Reserve Bank, May 19, 2010 (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 1,077,863 34,846 392,177 38,745 44,475 84,307 135,621 86,788 32,129 20,050 29,476 65,449 113,800
Less: Notes held by F.R. Banks 180,296 4,253 57,681 5,749 9,391 12,626 29,699 11,956 4,655 3,044 3,395 12,334 25,513
Federal Reserve notes, net 897,568 30,593 334,495 32,996 35,083 71,681 105,922 74,832 27,475 17,006 26,081 53,115 88,288
Reverse repurchase agreements (14) 55,764 1,411 22,755 1,302 1,895 6,351 5,277 4,204 1,436 763 1,913 2,342 6,115
Deposits 1,327,711 11,443 779,462 34,138 15,795 218,746 38,070 40,769 9,586 31,570 23,207 19,153 105,769
Depository institutions 1,095,739 11,441 547,652 34,134 15,791 218,639 38,068 40,740 9,584 31,569 23,206 19,152 105,763
U.S. Treasury, general account 30,213 0 30,213 0 0 0 0 0 0 0 0 0 0
U.S. Treasury, supplementary
financing account 199,959 0 199,959 0 0 0 0 0 0 0 0 0 0
Foreign official 1,478 1 1,450 4 3 11 2 1 0 1 0 1 3
Other 322 1 189 0 2 96 0 28 2 0 1 0 3
Deferred availability cash items 2,403 65 0 206 573 81 156 166 53 384 116 117 486
Other liabilities and accrued
dividends (15) 15,941 242 11,202 291 323 968 667 536 224 170 240 327 751
Total liabilities 2,299,386 43,756 1,147,915 68,933 53,669 297,827 150,092 120,507 38,774 49,893 51,558 75,054 201,409
Capital
Capital paid in 26,423 916 7,543 2,947 1,906 5,452 1,548 624 239 803 211 414 3,819
Surplus 25,636 945 7,563 2,674 1,910 7,140 1,581 620 240 712 210 353 1,688
Other capital 2,964 32 700 0 43 126 147 122 40 36 53 126 1,540
Total liabilities and capital 2,354,408 45,649 1,163,721 74,554 57,530 310,544 153,368 121,873 39,292 51,444 52,031 75,946 208,456
Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table.
11. Statement of Condition of Each Federal Reserve Bank, May 19, 2010 (continued)
1. Includes securities lent to dealers under the overnight and term securities lending facilities; 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 7 and the note on consolidation below.
7. Refer to table 4 and the note on consolidation below.
8. Refer to table 5 and the note on consolidation below.
9. Refer to table 6 and the note on consolidation below.
10. Refer to table 8 and the note on consolidation below.
11. Refer to table 9.
12. 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.
13. Includes other assets denominated in foreign currencies, which are revalued daily at market exchange rates, accrued dividends on the Federal Reserve Bank of New York's (FRBNY) preferred interests
in AIA Aurora LLC and ALICO Holdings LLC, and the fair value adjustment to credit extended by the FRBNY to eligible borrowers through the Term Asset-Backed Securities Loan Facility.
14. Cash value of agreements, which are collateralized by U.S. Treasury securities and federal agency debt securities.
15. Includes the liabilities of Commercial Paper Funding Facility LLC, 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 8 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 October 27, 2008, the FRBNY began extending loans to Commercial Paper Funding Facility LLC, which was
formed to purchase three-month U.S. dollar-denominated commercial paper from eligible issuers. 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 sole beneficiary of Commercial Paper Funding Facility LLC. 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 10), 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 10).
12. Collateral Held against Federal Reserve Notes: Federal Reserve Agents' Accounts
Millions of dollars
Wednesday
Federal Reserve notes and collateral May 19, 2010
Federal Reserve notes outstanding 1,077,863
Less: Notes held by F.R. Banks not subject to collateralization 180,296
Federal Reserve notes to be collateralized 897,568
Collateral held against Federal Reserve notes 897,568
Gold certificate account 11,037
Special drawing rights certificate account 5,200
U.S. Treasury, agency debt, and mortgage-backed securities pledged (1,2) 881,331
Other assets pledged 0
Memo:
Total U.S. Treasury, agency debt, and mortgage-backed securities (1,2) 2,063,896
Less: Face value of securities under reverse repurchase agreements 54,964
U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 2,008,932
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 and term securities lending facilities; refer
to table 1A.
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