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Release Date: April 16, 2015
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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 April 16, 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 15, 2015
Federal Reserve Banks Apr 15, 2015 Apr 8, 2015 Apr 16, 2014
Reserve Bank credit 4,448,809 + 4,392 + 210,684 4,447,330
Securities held outright (1) 4,230,858 + 2,400 + 219,099 4,230,135
U.S. Treasury securities 2,459,765 + 114 + 128,191 2,459,806
Bills (2) 0 0 0 0
Notes and bonds, nominal (2) 2,346,709 0 + 124,795 2,346,709
Notes and bonds, inflation-indexed (2) 98,469 0 + 3,080 98,468
Inflation compensation (3) 14,587 + 114 + 317 14,629
Federal agency debt securities (2) 36,737 - 140 - 10,392 35,895
Mortgage-backed securities (4) 1,734,356 + 2,426 + 101,300 1,734,434
Unamortized premiums on securities held outright (5) 202,125 - 214 - 8,082 202,119
Unamortized discounts on securities held outright (5) -17,902 + 32 - 450 -17,882
Repurchase agreements (6) 0 0 0 0
Loans 34 - 26 - 67 38
Primary credit 10 - 32 + 7 6
Secondary credit 0 0 0 0
Seasonal credit 24 + 6 + 8 31
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) 1,692 + 1 + 106 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 -545 - 58 + 87 -492
Central bank liquidity swaps (11) 0 0 - 407 0
Other Federal Reserve assets (12) 32,547 + 2,257 + 575 31,718
Foreign currency denominated assets (13) 19,370 - 438 - 4,872 19,398
Gold stock 11,041 0 0 11,041
Special drawing rights certificate account 5,200 0 0 5,200
Treasury currency outstanding (14) 46,615 + 14 + 832 46,615
Total factors supplying reserve funds 4,531,035 + 3,968 + 206,644 4,529,584
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 15, 2015
Federal Reserve Banks Apr 15, 2015 Apr 8, 2015 Apr 16, 2014
Currency in circulation (14) 1,361,773 + 611 + 91,246 1,361,650
Reverse repurchase agreements (15) 238,716 - 44,997 + 61,473 227,651
Foreign official and international accounts 153,652 + 6,077 + 54,845 157,822
Others 85,064 - 51,074 + 6,628 69,829
Treasury cash holdings 230 - 13 - 1 234
Deposits with F.R. Banks, other than reserve balances 70,164 - 1,550 - 16,481 125,438
Term deposits held by depository institutions 0 0 0 0
U.S. Treasury, General Account 50,447 - 4,759 - 15,010 111,551
Foreign official 5,230 0 - 1,748 5,231
Other (16) 14,486 + 3,209 + 275 8,656
Other liabilities and capital (17) 66,838 + 1,100 + 1,837 65,656
Total factors, other than reserve balances,
absorbing reserve funds 1,737,721 - 44,849 + 138,074 1,780,629
Reserve balances with Federal Reserve Banks 2,793,314 + 48,817 + 68,570 2,748,955
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 15, 2015
Apr 15, 2015 Apr 8, 2015 Apr 16, 2014
Securities held in custody for foreign official and
international accounts 3,288,759 - 1,001 - 12,153 3,295,687
Marketable U.S. Treasury securities (1) 2,960,439 - 1,100 - 375 2,967,403
Federal agency debt and mortgage-backed securities (2) 284,750 + 142 - 12,623 284,712
Other securities (3) 43,570 - 44 + 845 43,572
Securities lent to dealers 10,495 - 683 - 534 11,647
Overnight facility (4) 10,495 - 683 - 534 11,647
U.S. Treasury securities 10,179 - 625 + 377 11,339
Federal agency debt securities 317 - 56 - 910 308
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 15, 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 12 25 0 0 0 ... 38
U.S. Treasury securities (1)
Holdings 450 1,449 63,822 1,112,901 637,961 643,223 2,459,806
Weekly changes + 449 - 450 0 + 17 + 22 + 75 + 113
Federal agency debt securities (2)
Holdings 0 0 6,638 26,910 0 2,347 35,895
Weekly changes - 982 0 0 0 0 0 - 982
Mortgage-backed securities (3)
Holdings 0 0 0 20 8,602 1,725,812 1,734,434
Weekly changes 0 0 0 0 - 46 + 2,550 + 2,504
Repurchase agreements (4) 0 0 ... ... ... ... 0
Central bank liquidity swaps (5) 0 0 0 0 0 0 0
Reverse repurchase agreements (4) 227,651 0 ... ... ... ... 227,651
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 15, 2015
Mortgage-backed securities held outright (1) 1,734,434
Commitments to buy mortgage-backed securities (2) 36,102
Commitments to sell mortgage-backed securities (2) 400
Cash and cash equivalents (3) 0
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 15, 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 15, 2015 Wednesday Wednesday
consolidation Apr 8, 2015 Apr 16, 2014
Assets
Gold certificate account 11,037 0 0
Special drawing rights certificate account 5,200 0 0
Coin 1,813 - 17 - 110
Securities, unamortized premiums and discounts,
repurchase agreements, and loans 4,414,410 + 1,559 + 206,477
Securities held outright (1) 4,230,135 + 1,635 + 214,920
U.S. Treasury securities 2,459,806 + 113 + 123,815
Bills (2) 0 0 0
Notes and bonds, nominal (2) 2,346,709 0 + 120,412
Notes and bonds, inflation-indexed (2) 98,468 - 1 + 3,079
Inflation compensation (3) 14,629 + 114 + 324
Federal agency debt securities (2) 35,895 - 982 - 10,699
Mortgage-backed securities (4) 1,734,434 + 2,504 + 101,805
Unamortized premiums on securities held outright
(5) 202,119 - 123 - 8,000
Unamortized discounts on securities held outright
(5) -17,882 + 41 - 378
Repurchase agreements (6) 0 0 0
Loans 38 + 6 - 66
Net portfolio holdings of Maiden Lane LLC (7) 1,694 + 3 + 108
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) 96 - 2 - 13
Bank premises 2,243 + 1 - 28
Central bank liquidity swaps (10) 0 0 - 407
Foreign currency denominated assets (11) 19,398 - 194 - 4,745
Other assets (12) 29,476 + 598 + 296
Total assets (0) 4,485,366 + 1,947 + 201,399
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 15, 2015 Wednesday Wednesday
consolidation Apr 8, 2015 Apr 16, 2014
Liabilities
Federal Reserve notes, net of F.R. Bank holdings 1,317,078 - 1,629 + 89,589
Reverse repurchase agreements (13) 227,651 - 16,841 + 54,136
Deposits (0) 2,874,393 + 19,905 + 55,631
Term deposits held by depository institutions 0 0 0
Other deposits held by depository institutions 2,748,955 - 43,957 + 78,151
U.S. Treasury, General Account 111,551 + 67,297 - 22,932
Foreign official 5,231 + 1 - 1,747
Other (14) (0) 8,656 - 3,437 + 2,158
Deferred availability cash items (0) 588 + 5 - 184
Other liabilities and accrued dividends (15) 7,967 + 497 + 636
Total liabilities (0) 4,427,677 + 1,936 + 199,807
Capital accounts
Capital paid in 28,844 + 5 + 796
Surplus 28,844 + 5 + 796
Other capital accounts 0 0 0
Total capital 57,689 + 11 + 1,592
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 15, 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 11,037 352 4,125 338 464 824 1,349 706 278 173 291 880 1,257
Special drawing rights certificate acct. 5,200 196 1,818 210 237 412 654 424 150 90 153 282 574
Coin 1,813 41 71 125 114 298 184 271 23 44 150 177 315
Securities, unamortized premiums and
discounts, repurchase agreements,
and loans 4,414,410 89,304 2,709,381 105,755 96,381 246,722 244,029 180,427 54,448 27,069 58,150 134,507 468,237
Securities held outright (1) 4,230,135 85,568 2,596,303 101,341 92,359 236,425 233,839 172,892 52,176 25,924 55,721 128,893 448,695
U.S. Treasury securities 2,459,806 49,758 1,509,739 58,929 53,706 137,480 135,977 100,536 30,340 15,075 32,401 74,951 260,914
Bills (2) 0 0 0 0 0 0 0 0 0 0 0 0 0
Notes and bonds (3) 2,459,806 49,758 1,509,739 58,929 53,706 137,480 135,977 100,536 30,340 15,075 32,401 74,951 260,914
Federal agency debt securities (2) 35,895 726 22,031 860 784 2,006 1,984 1,467 443 220 473 1,094 3,807
Mortgage-backed securities (4) 1,734,434 35,085 1,064,533 41,552 37,869 96,939 95,879 70,889 21,393 10,629 22,847 52,849 183,973
Unamortized premiums on securities held
outright (5) 202,119 4,089 124,053 4,842 4,413 11,297 11,173 8,261 2,493 1,239 2,662 6,159 21,439
Unamortized discounts on securities
held outright (5) -17,882 -362 -10,975 -428 -390 -999 -988 -731 -221 -110 -236 -545 -1,897
Repurchase agreements (6) 0 0 0 0 0 0 0 0 0 0 0 0 0
Loans 38 9 0 0 0 0 5 5 0 16 2 0 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 96 0 0 0 0 0 95 0 0 1 0 0 0
Bank premises 2,243 124 431 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) 19,398 879 6,254 1,084 1,512 4,451 1,104 521 181 81 204 279 2,848
Other assets (12) 29,476 645 17,570 720 660 1,831 1,647 1,211 442 212 426 966 3,146
Interdistrict settlement account 0 + 36,308 - 249,447 + 10,485 + 41,439 + 28,500 + 3,007 - 7,100 - 843 + 6,720 + 7,576 + 26,729 + 96,626
Total assets 4,485,366 127,850 2,491,897 118,790 140,915 283,256 252,278 176,661 54,799 34,485 67,189 164,043 573,202
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 15, 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 1,498,269 50,837 474,814 50,454 75,314 104,755 209,964 106,507 44,969 26,925 42,273 121,439 190,017
Less: Notes held by F.R. Banks 181,191 5,378 60,107 5,631 9,781 12,395 23,950 12,019 5,226 2,862 4,910 14,226 24,706
Federal Reserve notes, net 1,317,078 45,459 414,706 44,823 65,533 92,360 186,014 94,487 39,743 24,063 37,363 107,214 165,310
Reverse repurchase agreements (13) 227,651 4,605 139,724 5,454 4,970 12,724 12,584 9,304 2,808 1,395 2,999 6,937 24,147
Deposits 2,874,393 75,002 1,914,186 65,050 65,687 164,422 49,540 70,943 11,543 8,458 26,076 48,793 374,692
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 2,748,955 74,997 1,789,034 65,022 65,684 164,198 49,531 70,940 11,543 8,458 26,075 48,791 374,682
U.S. Treasury, General Account 111,551 0 111,551 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 8,397 27 0 215 7 2 0 0 1 1 4
Deferred availability cash items 588 0 0 0 0 0 416 0 0 172 0 0 0
Interest on Federal Reserve notes due
to U.S. Treasury (15) 1,597 17 1,103 26 19 33 87 69 15 9 22 51 147
Other liabilities and accrued
dividends (16) 6,370 176 3,466 216 227 589 362 282 140 136 125 201 450
Total liabilities 4,427,677 125,259 2,473,186 115,569 136,437 270,128 249,004 175,085 54,250 34,233 66,585 163,195 564,746
Capital
Capital paid in 28,844 1,295 9,356 1,611 2,239 6,564 1,637 788 275 126 302 424 4,228
Surplus 28,844 1,295 9,356 1,611 2,239 6,564 1,637 788 275 126 302 424 4,228
Other capital 0 0 0 0 0 0 0 0 0 0 0 0 0
Total liabilities and capital 4,485,366 127,850 2,491,897 118,790 140,915 283,256 252,278 176,661 54,799 34,485 67,189 164,043 573,202
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 15, 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 15, 2015
Federal Reserve notes outstanding 1,498,269
Less: Notes held by F.R. Banks not subject to collateralization 181,191
Federal Reserve notes to be collateralized 1,317,078
Collateral held against Federal Reserve notes 1,317,078
Gold certificate account 11,037
Special drawing rights certificate account 5,200
U.S. Treasury, agency debt, and mortgage-backed securities pledged (1,2) 1,300,841
Other assets pledged 0
Memo:
Total U.S. Treasury, agency debt, and mortgage-backed securities (1,2) 4,230,135
Less: Face value of securities under reverse repurchase agreements 216,630
U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 4,013,505
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.
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