Federal Reserve Statistical Release, H.4.1, Factors Affecting Reserve Balances; title with eagle logo links to Statistical Release home page
Release Date: February 26, 2009
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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
                                                                                          February 26, 2009
1. Factors Affecting Reserve Balances of Depository Institutions
Millions of dollars
Reserve Bank credit, related items, and                            Averages of daily figures
reserve balances of depository institutions at            Week ended   Change from week ended     Wednesday
Federal Reserve Banks                                    Feb 25, 2009 Feb 18, 2009 Feb 27, 2008 Feb 25, 2009

Reserve Bank credit                                       1,900,189   -    7,111   +1,033,788    1,899,386
  Securities held outright                                  579,083   +    8,664   -  134,275      581,726       
    U.S. Treasury securities (1)                            474,684   -      106   -  238,674      474,643
      Bills (2)                                              18,423            0   -  181,937       18,423
      Notes and bonds, nominal (2)                          412,914            0   -   57,096      412,914
      Notes and bonds, inflation-indexed (2)                 39,378            0   +      941       39,378
      Inflation compensation (3)                              3,971   -      106   -      580        3,929
    Federal agency debt securities (2)                       35,869   +    3,311   +   35,869       38,338
    Mortgage-backed securities (4)                           68,529   +    5,458   +   68,529       68,745
  Repurchase agreements (5)                                       0            0   -   42,857            0
  Term auction credit                                       447,563            0   +  387,563      447,563  
  Other loans                                               139,464   -    3,766   +  139,291      138,899
    Primary credit                                           64,408   -    1,584   +   64,239       65,590
    Secondary credit                                              7   +        3   +        7            0
    Seasonal credit                                               2   -        1   -        3            3
    Primary dealer and other broker-dealer credit (6)        25,618   -      383   +   25,618       25,163
    Asset-backed Commercial Paper Money Market
      Mutual Fund Liquidity Facility                         11,382   -    2,493   +   11,382        9,980
    Credit extended to American International
      Group, Inc. (7)                                        38,046   +      691   +   38,046       38,163
    Other credit extensions                                       0            0            0            0
  Net portfolio holdings of Commercial Paper 
    Funding Facility LLC (8)                                246,233   -    4,125   +  246,233      242,503
  Net portfolio holdings of LLCs funded through
    the Money Market Investor Funding Facility (9)                0            0            0            0
  Net portfolio holdings of Maiden Lane LLC (10)             25,924   +       41   +   25,924       25,969
  Net portfolio holdings of Maiden Lane II LLC (11)          18,641   +       10   +   18,641       18,647
  Net portfolio holdings of Maiden Lane III LLC (12)         27,677   +       38   +   27,677       27,695
  Float                                                      -2,380   -      477   -    1,275       -2,151
  Central bank liquidity swaps (13)                         374,590   -    5,097   +  364,590      374,947
  Other Federal Reserve assets (14)                          43,395   -    2,398   +    2,278       43,588
Gold stock                                                   11,041            0            0       11,041
Special drawing rights certificate account                    2,200            0            0        2,200
Treasury currency outstanding (15)                           38,786   +       14   +      106       38,786
       
Total factors supplying reserve funds                     1,952,216   -    7,098   +1,033,895    1,951,413

Note: Components may not sum to totals because of rounding.  Footnotes appear on the following page.


1. Factors Affecting Reserve Balances of Depository Institutions, continued
Millions of dollars
Reserve Bank credit, related items, and                            Averages of daily figures
reserve balances of depository institutions at            Week ended   Change from week ended     Wednesday
Federal Reserve Banks                                    Feb 25, 2009 Feb 18, 2009 Feb 27, 2008 Feb 25, 2009

Currency in circulation (15)                                893,696   -      535   +   78,332      895,390
Reverse repurchase agreements (16)                           67,843   -    5,150   +   28,310       67,713
  Foreign official and international accounts                67,843   -    5,150   +   28,310       67,713
  Dealers                                                         0            0            0            0
Treasury cash holdings                                          278   +        8   +       17          282
Deposits with F.R. Banks, other than reserve balances       247,206   -    5,398   +  235,336      240,361       
  U.S. Treasury, general account                             35,583   +    4,501   +   30,843       25,109
  U.S. Treasury, supplementary financing account            199,950            0   +  199,950      199,950
  Foreign official                                            2,682   +      237   +    2,584        2,233
  Service-related                                             4,476   +        2   -    2,274        4,476
    Required clearing balances                                4,476   +        2   -    2,274        4,476
    Adjustments to compensate for float                           0            0            0            0
  Other                                                       4,516   -   10,137   +    4,233        8,593
Other liabilities and capital (17)                           50,884   +      653   +    7,220       50,993

Total factors, other than reserve balances,                                        
   absorbing reserve funds                                1,259,906   -   10,423   +  349,214    1,254,739

Reserve balances with Federal Reserve Banks                 692,310   +    3,326   +  684,680      696,674
                                                                
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 credit extended through the Primary Dealer Credit Facility and credit extended to certain
   other broker-dealers.
7. Excludes credit extended to consolidated LLCs.
8. Refer to table 6 and the note on consolidation accompanying table 9.
9. Refer to table 7 and the note on consolidation accompanying table 9.
10. Refer to table 3 and the note on consolidation accompanying table 9.
11. Refer to table 4 and the note on consolidation accompanying table 9.
12. Refer to table 5 and the note on consolidation accompanying table 9.
13. 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.
14. Includes other assets denominated in foreign currencies, which are revalued daily at market exchange rates.
15. Estimated.
16. Cash value of agreements, which are collateralized by U.S. Treasury securities.
17. Includes the liabilities of Commercial Paper Funding Facility LLC, the LLCs funded through the Money Market 
    Investor Funding Facility, Maiden Lane LLC, Maiden Lane II LLC, and Maiden Lane III 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 3 through table 7 and the note on consolidation accompanying table 9.

Sources: Federal Reserve Banks and the U.S. Department of the Treasury.


1A. Memorandum Items 
Millions of dollars
                                                                   Averages of daily figures
Memorandum item                                           Week ended   Change from week ended     Wednesday
                                                         Feb 25, 2009 Feb 18, 2009 Feb 27, 2008 Feb 25, 2009

Marketable securities held in custody for foreign
      official and international accounts (1)             2,580,726   +    4,617   +  439,270    2,579,949
  U.S. Treasury securities                                1,766,673   +    4,332   +  496,390    1,767,166
  Federal agency securities (2)                             814,053   +      285   -   57,120      812,783
Securities lent to dealers                                  117,841   -    3,572   +  103,382      115,930   
  Overnight facility (3)                                      6,285   +      152   -    8,174        4,660
  Term facility (4)                                         111,556   -    3,724   +  111,556      111,270

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. Fully collateralized by U.S. Treasury securities, federal agency securities, and other highly rated debt
   securities.


2. Maturity Distribution of Term Auction Credit, Other Loans, and Securities,  February 25, 2009
Millions of dollars

Remaining maturity                 Within 15  16 days to  91 days to  Over 1 year  Over 5 years  Over 10       All
                                      days     90 days      1 year     to 5 years   to 10 years   years 
Term auction credit                  208,558     239,005         ---          ---           ---        ---     447,563
Other loans (1)                       90,166      10,267          303      38,163           ---        ---     138,899
U.S. Treasury securities (2) 
  Holdings                            19,676      26,823       61,313     167,973        99,416     99,442     474,643
  Weekly changes                  +    2,156  -    2,156   -        4  -       35    -       26 -       47  -      113
Federal agency debt securities (3) 
  Holdings                               449       1,199        2,567      26,690         7,433          0      38,338
  Weekly changes                  -      291  -      349            0  +    4,190    +    1,211          0  +    4,761
Mortgage-backed securities (4)    
  Holdings                                 0           0            0           0             0     68,745      68,745
  Weekly changes                           0           0            0           0             0 +    3,453  +    3,453
Commercial paper held by
  Commercial Paper Funding 
  Facility LLC (5)                    19,664     221,920            0         ---           ---        ---     241,584
Money market instruments held by
  LLCs funded through the Money
  Market Investor Funding
  Facility (6)                             0           0            0         ---           ---        ---           0
Repurchase agreements (7)                  0           0          ---         ---           ---        ---           0
Central bank liquidity swaps (8)     246,532     128,416            0           0             0          0     374,947

Reverse repurchase agreements (7)     67,713           0          ---         ---           ---        ---      67,713
  
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, the 
   LLCs funded through the Money Market Investor Funding Facility, Maiden Lane LLC, Maiden Lane II LLC, and Maiden 
   Lane III 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 money market instruments held by LLCs funded through the Money Market Investor Funding Facility.
7. Cash value of agreements.
8. Dollar value of foreign currency held under these arrangements 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. Information on Principal Accounts of Maiden Lane LLC
Millions of dollars
                                                                                                  Wednesday
Account name                                                                                    Feb 25, 2009
         
Net portfolio holdings of Maiden Lane LLC (1)                                                       25,969

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)                                   290
Outstanding principal amount and accrued interest on loan payable to JPMorgan Chase & Co. (3)        1,197
 
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, 2008.  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 9.
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 8 and table 9.

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.



4. Information on Principal Accounts of Maiden Lane II LLC
Millions of dollars
                                                                                                   Wednesday
Account name                                                                                     Feb 25, 2009

Net portfolio holdings of Maiden Lane II LLC (1)                                                     18,647

Outstanding principal amount of loan extended by the Federal Reserve Bank of New York (2)            18,825
Accrued interest payable to the Federal Reserve Bank of New York (2)                                     70
Deferred payment and accrued interest payable to subsidiaries of American International 
  Group, Inc. (3)                                                                                     1,008

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, 2008.  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 9.
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 8 and table 9.

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.


5. Information on Principal Accounts of Maiden Lane III LLC
Millions of dollars
                                                                                                   Wednesday
Account name                                                                                     Feb 25, 2009

Net portfolio holdings of Maiden Lane III LLC (1)                                                    27,695

Outstanding principal amount of loan extended by the Federal Reserve Bank of New York (2)            24,339
Accrued interest payable to the Federal Reserve Bank of New York (2)                                     99
Outstanding principal amount and accrued interest on loan payable to American International
  Group, Inc. (3)                                                                                     5,049

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  December 31, 2008.  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 9.
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 8 and table 9.

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.


6. Information on Principal Accounts of Commercial Paper Funding Facility LLC
Millions of dollars
                                                                                                   Wednesday
Account name                                                                                     Feb 25, 2009

Commercial paper holdings, net (1)                                                                  240,110
Other investments, net                                                                                2,394
Net portfolio holdings of Commercial Paper Funding Facility LLC                                     242,503

Memorandum: Commercial paper holdings, face value                                                   241,584

Outstanding principal amount of loan extended by the Federal Reserve Bank of New York (2)           240,271
Accrued interest payable to the Federal Reserve Bank of New York (2)                                     93

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 9.

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.


7. Information on Principal Accounts of LLCs Funded through the Money Market Investor Funding Facility 
Millions of dollars
                                                                                                   Wednesday
Account name                                                                                     Feb 25, 2009

Money market instrument holdings, net (1)                                                                 0
Other investments, net                                                                                    0
Net portfolio holdings of LLCs funded through the Money Market Investor Funding Facility                  0

Memorandum: Money market instrument 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
Commercial paper issued by LLCs funded through the Money Market Investor Funding Facility, 
  net of related discounts                                                                                0

1. Book value, which includes amortized cost.
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 9.

Note:  The Federal Reserve Board authorized the Federal Reserve Bank of New York to extend credit under the 
authority of section 13(3) of the Federal Reserve Act to a series of limited liability companies funded through 
the Money Market Investor Funding Facility (MMIFF).  The MMIFF became operational on November 24, 2008.  These 
limited liability companies were established to purchase short-term U.S. dollar-denominated certificates of 
deposit, bank notes, and outstanding asset-backed commercial paper from eligible issuers.  Such purchases are 
designed to foster liquidity in short-term money markets.


8. Consolidated Statement of Condition of All Federal Reserve Banks
Millions of dollars
                                                 Eliminations                          Change since
                                                     from       Wednesday        Wednesday        Wednesday
Assets, liabilities, and capital                consolidation Feb 25, 2009     Feb 18, 2009     Feb 27, 2008

Assets
Gold certificate account                                           11,037                0                0
Special drawing rights certificate account                          2,200                0                0
Coin                                                                1,855       -       31       +      503
Securities, repurchase agreements, term auction
      credit, and other loans                                   1,168,188       +    6,507       +  339,646
  Securities held outright                                        581,726       +    8,101       -  131,629
    U.S. Treasury securities (1)                                  474,643       -      113       -  238,712       
      Bills (2)                                                    18,423                0       -  181,937
      Notes and bonds, nominal (2)                                412,914                0       -   57,096
      Notes and bonds, inflation-indexed (2)                       39,378                0       +      941
      Inflation compensation (3)                                    3,929       -      113       -      620
    Federal agency debt securities (2)                             38,338       +    4,761       +   38,338
    Mortgage-backed securities (4)                                 68,745       +    3,453       +   68,745
  Repurchase agreements (5)                                             0                0       -   54,500    
  Term auction credit                                             447,563                0       +  387,563
  Other loans                                                     138,899       -    1,594       +  138,212
Net portfolio holdings of Commercial Paper 
  Funding Facility LLC (6)                                        242,503       -    6,168       +  242,503
Net portfolio holdings of LLCs funded through
  the Money Market Investor Funding Facility (7)                        0                0                0
Net portfolio holdings of Maiden Lane LLC (8)                      25,969       +       52       +   25,969
Net portfolio holdings of Maiden Lane II LLC (9)                   18,647       +        7       +   18,647
Net portfolio holdings of 
  Maiden Lane III LLC (10)                                         27,695       +       21       +   27,695
Items in process of collection                         (346)          959       -      519       -      606
Bank premises                                                       2,187                0       +       49
Central bank liquidity swaps (11)                                 374,947       -       58       +  364,947
Other assets (12)                                                  41,394       +      734       +    1,871
     
      Total assets                                     (346)    1,917,581       +      545       +1,021,225

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


8. Consolidated Statement of Condition of All Federal Reserve Banks (continued)
Millions of dollars
                                                 Eliminations                          Change since
                                                     from       Wednesday        Wednesday        Wednesday
Assets, liabilities, and capital                consolidation Feb 25, 2009     Feb 18, 2009     Feb 27, 2008
                         
Liabilities
Federal Reserve notes, net of F.R. Bank holdings                  858,738       +      250       +   79,286
Reverse repurchase agreements (13)                                 67,713       -    3,091       +   25,065
Deposits                                                 (0)      937,028       +    4,341       +  909,433       
  Depository institutions                                         701,143       -    7,987       +  679,020
  U.S. Treasury, general account                                   25,109       +    4,608       +   20,006
  U.S. Treasury, supplementary financing account                  199,950                0       +  199,950
  Foreign official                                                  2,233       -      544       +    2,134
  Other                                                  (0)        8,593       +    8,264       +    8,323
Deferred availability cash items                       (346)        3,110       -    1,573       +      336
Other liabilities and accrued dividends (14)                        8,798       +      118       +    4,325

      Total liabilities                                (346)    1,875,387       +       44       +1,018,445
                          
Capital accounts
Capital paid in                                                    22,190       +       88       +    2,795
Surplus                                                            19,832       +      326       +    1,375
Other capital accounts                                                172       +       86       -    1,390

      Total capital                                                42,194       +      500       +    2,780

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 6 and the note on consolidation accompanying table 9.
7. Refer to table 7 and the note on consolidation accompanying table 9.
8. Refer to table 3 and the note on consolidation accompanying table 9.
9. Refer to table 4 and the note on consolidation accompanying table 9.
10. Refer to table 5 and the note on consolidation accompanying table 9.
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 other assets denominated in foreign currencies, which are revalued daily at market exchange rates. 
13. Cash value of agreements, which are collateralized by U.S. Treasury securities.
14. Includes the liabilities of Commercial Paper Funding Facility LLC, the LLCs funded through the Money Market 
    Investor Funding Facility, Maiden Lane LLC, Maiden Lane II LLC, and Maiden Lane III 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 3 through table 7 and the note on consolidation accompanying table 9. 


9. Statement of Condition of Each Federal Reserve Bank,  February 25, 2009
Millions of dollars
                                                                                                                                                            Kansas                 San
Assets, liabilities, and capital               Total     Boston   New York Philadelphia Cleveland   Richmond   Atlanta    Chicago   St. Louis  Minneapolis   City      Dallas   Francisco

Assets                        
Gold certificate account                      11,037        424      3,935        453        423        891      1,221        913        344        199        349        636      1,249
Special drawing rights certificate acct.       2,200        115        874         83        104        147        166        212         71         30         66         98        234
Coin                                           1,855         62         83        156        155        256        230        215         46         60        126        187        281
Securities, repurchase agreements, term
      auction credit, and other loans      1,168,188     54,979    549,852     65,859     32,614    117,498     73,671     59,290     25,175     17,003     24,111     31,822    116,314
  Securities held outright                   581,726     24,400    206,975     25,399     22,059     52,750     57,881     51,343     20,102     10,982     21,360     24,131     64,345
    U.S. Treasury securities (1)             474,643     19,908    168,875     20,724     17,998     43,040     47,226     41,892     16,402      8,961     17,428     19,689     52,501
      Bills (2)                               18,423        773      6,555        804        699      1,671      1,833      1,626        637        348        676        764      2,038
      Notes and bonds (3)                    456,220     19,136    162,320     19,919     17,300     41,369     45,393     40,266     15,765      8,613     16,751     18,924     50,463
    Federal agency debt securities (2)        38,338      1,608     13,640      1,674      1,454      3,476      3,815      3,384      1,325        724      1,408      1,590      4,241
    Mortgage-backed securities (4)            68,745      2,883     24,459      3,002      2,607      6,234      6,840      6,067      2,376      1,298      2,524      2,852      7,604
  Repurchase agreements (5)                        0          0          0          0          0          0          0          0          0          0          0          0          0
  Term auction credit                        447,563     20,317    220,759     40,315     10,546     64,159     15,539      5,999      4,759      5,699      2,712      6,600     50,160     
  Other loans                                138,899     10,263    122,118        145          9        589        252      1,948        314        321         39      1,091      1,809
Net portfolio holdings of Commercial
  Paper Funding Facility LLC (6)             242,503          0    242,503          0          0          0          0          0          0          0          0          0          0
Net portfolio holdings of LLCs funded
  through the Money Market Investor
  Funding Facility (7)                             0          0          0          0          0          0          0          0          0          0          0          0          0
Net portfolio holdings of Maiden Lane 
  LLC (8)                                     25,969          0     25,969          0          0          0          0          0          0          0          0          0          0
Net portfolio holdings of Maiden
  Lane II LLC (9)                             18,647          0     18,647          0          0          0          0          0          0          0          0          0          0
Net portfolio holdings of Maiden
  Lane III LLC (10)                           27,695          0     27,695          0          0          0          0          0          0          0          0          0          0
Items in process of collection                 1,305         59          0        221        138         43        314         65        119         75         49         83        140
Bank premises                                  2,187        123        211         65        147        230        224        207        133        112        273        250        212
Central bank liquidity swaps (11)            374,947     14,624    107,015     40,100     26,884    103,583     27,916     12,185      3,632      5,619      3,601      4,694     25,095
Other assets (12)                             41,394      1,726     12,734      3,365      2,412      8,370      3,525      2,260        850        708        875      1,043      3,525
Interdistrict settlement account                   0  +     406  -  31,833  -  54,881  +  11,063  -  39,041  +  28,961  +  24,937  +   3,623  -   4,029  +  16,996  +  19,673  +  24,124

      Total assets                         1,917,927     72,518    957,685     55,420     73,940    191,978    136,228    100,285     33,993     19,776     46,446     58,484    171,174

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


9. Statement of Condition of Each Federal Reserve Bank,  February 25, 2009 (continued)
Millions of dollars
                                                                                                                                                            Kansas                 San
Assets, liabilities, and capital                Total     Boston   New York Philadelphia Cleveland   Richmond   Atlanta    Chicago   St. Louis  Minneapolis   City      Dallas   Francisco

Liabilities                         
Federal Reserve notes outstanding           1,035,690     37,619    362,545     40,792     45,909     79,932    134,304     84,600     28,987     18,045     29,427     61,872    111,658
  Less: Notes held by F.R. Banks              176,952      5,735     48,589      5,428      7,332     12,347     29,325     13,753      3,517      3,089      3,663     17,316     26,860
    Federal Reserve notes, net                858,738     31,884    313,956     35,364     38,576     67,586    104,979     70,847     25,471     14,956     25,764     44,555     84,798
Reverse repurchase agreements (13)             67,713      2,840     24,092      2,956      2,568      6,140      6,737      5,976      2,340      1,278      2,486      2,809      7,490
Deposits                                      937,028     35,754    602,314     11,685     29,024    105,907     20,578     21,355      5,555      2,242     17,489     10,158     74,967
  Depository institutions                     701,143     35,746    366,577     11,680     29,018    105,801     20,575     21,353      5,544      2,242     17,487     10,157     74,963
  U.S. Treasury, general account               25,109          0     25,109          0          0          0          0          0          0          0          0          0          0
  U.S. Treasury, supplementary
    financing account                         199,950          0    199,950          0          0          0          0          0          0          0          0          0          0
  Foreign official                              2,233          2      2,204          4          3         11          3          1          0          1          0          1          3
  Other                                         8,593          6      8,474          1          3         94          0          0         11          0          1          0          2
Deferred availability cash items                3,456        101          0        658        493        201        310        330         33        376        149        228        576
Other liabilities and accrued                 
  dividends (14)                                8,798        158      6,310        183        184        441        358        295        154        109        120        170        317
   
      Total liabilities                     1,875,733     70,738    946,673     50,846     70,844    180,275    132,962     98,803     33,553     18,963     46,008     57,919    168,148
                              
Capital                    
Capital paid in                                22,190        903      6,282      2,320      1,594      5,979      1,644        730        216        485        214        280      1,543
Surplus                                        19,832        844      4,731      2,254      1,502      5,724      1,612        704        210        324        208        271      1,449
Other capital                                     172         32          0          0          0          0         10         48         15          4         16         14         33

      Total liabilities and capital         1,917,927     72,518    957,685     55,420     73,940    191,978    136,228    100,285     33,993     19,776     46,446     58,484    171,174
                              
Note: Components may not sum to totals because of rounding.  Footnotes appear at the end of the table.


9. Statement of Condition of Each Federal Reserve Bank,  February 25, 2009 (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 6 and the note on consolidation below.
7. Refer to table 7 and the note on consolidation below.
8. Refer to table 3 and the note on consolidation below.
9. Refer to table 4 and the note on consolidation below.
10. Refer to table 5 and the note on consolidation below.
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 other assets denominated in foreign currencies, which are revalued daily at market exchange rates.
13. Cash value of agreements, which are collateralized by U.S. Treasury securities.
14. Includes the liabilities of Commercial Paper Funding Facility LLC, the LLCs funded through the Money Market Investor Funding Facility, Maiden Lane LLC, Maiden Lane II LLC, and  Maiden 
    Lane III LLCto 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 3 through 
    table 7 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 October 21, 2008, the Federal Reserve Board authorized the FRBNY 
to extend credit to a series of LLCs funded through the Money Market Investor Funding Facility.  These LLCs, which became operational on November 24, 2008, were established to purchase 
short-term U.S. dollar-denominated certificates of deposit, bank notes, and 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.

The FRBNY is the sole beneficiary of Commercial Paper Funding Facility LLC and the primary beneficiary of the other LLCs cited above. 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 8), 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 8).


10. Collateral Held against Federal Reserve Notes: Federal Reserve Agents' Accounts
Millions of dollars

Federal Reserve notes and collateral                                                              Wednesday
                                                                                                Feb 25, 2009
              
Federal Reserve notes outstanding                                                                1,035,690
  Less: Notes held by F.R. Banks not subject to collateralization                                  176,952
    Federal Reserve notes to be collateralized                                                     858,738 
Collateral held against Federal Reserve notes                                                      858,738
  Gold certificate account                                                                          11,037
  Special drawing rights certificate account                                                         2,200
  U.S. Treasury, agency debt, and mortgage-backed securities pledged (1)                           519,601
  Other assets pledged                                                                             325,900

Memo:
Total U.S. Treasury, agency debt, and mortgage-backed securities (1)                               581,726
  Less: Face value of securities under reverse repurchase agreements                                62,125
    U.S. Treasury, agency debt, and mortgage-backed securities
    eligible to be pledged                                                                         519,601
   
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.

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