FEDERAL RESERVE statistical release
H.4.1
Factors Affecting Reserve Balances of Depository Institutions and
Condition Statement of Federal Reserve Banks
March 5, 2009
1. Factors Affecting Reserve Balances of Depository Institutions
Millions of dollars
Reserve Bank credit, related items, and reserve balances of depository institutions at Federal Reserve Banks |
Averages of daily figures | Wednesday Mar 4, 2009 |
||
---|---|---|---|---|
Week ended Mar 4, 2009 |
Change from week ended | |||
Feb 25, 2009 | Mar 5, 2008 | |||
Reserve Bank credit | 1,891,437 | - 8,752 | +1,017,956 | 1,884,079 |
Securities held outright | 581,721 | + 2,638 | - 131,644 | 581,759 |
U.S. Treasury securities (1) | 474,607 | - 77 | - 238,758 | 474,619 |
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) | 3,893 | - 78 | - 666 | 3,905 |
Federal agency debt securities (2) | 38,252 | + 2,383 | + 38,252 | 38,238 |
Mortgage-backed securities (4) | 68,862 | + 333 | + 68,862 | 68,902 |
Repurchase agreements (5) | 0 | 0 | - 59,357 | 0 |
Term auction credit | 493,145 | + 45,582 | + 433,145 | 493,145 |
Other loans | 140,945 | + 1,481 | + 140,587 | 140,343 |
Primary credit | 65,961 | + 1,553 | + 65,606 | 66,728 |
Secondary credit | 0 | - 7 | 0 | 0 |
Seasonal credit | 2 | 0 | - 1 | 2 |
Primary dealer and other broker-dealer credit (6) | 23,799 | - 1,819 | + 23,799 | 23,557 |
Asset-backed Commercial Paper Money Market | ||||
Mutual Fund Liquidity Facility | 9,531 | - 1,851 | + 9,531 | 8,087 |
Credit extended to American International | ||||
Group, Inc. (7) | 41,652 | + 3,606 | + 41,652 | 41,969 |
Other credit extensions | 0 | 0 | 0 | 0 |
Net portfolio holdings of Commercial Paper | ||||
Funding Facility LLC (8) | 242,052 | - 4,181 | + 242,052 | 241,296 |
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) | 25,989 | + 65 | + 25,989 | 26,107 |
Net portfolio holdings of Maiden Lane II LLC (11) | 18,655 | + 14 | + 18,655 | 18,708 |
Net portfolio holdings of Maiden Lane III LLC (12) | 27,702 | + 25 | + 27,702 | 27,745 |
Float | -2,294 | + 86 | - 920 | -2,949 |
Central bank liquidity swaps (13) | 320,389 | - 54,201 | + 320,389 | 315,211 |
Other Federal Reserve assets (14) | 43,133 | - 262 | + 1,358 | 42,714 |
Gold stock | 11,041 | 0 | 0 | 11,041 |
Special drawing rights certificate account | 2,200 | 0 | 0 | 2,200 |
Treasury currency outstanding (15) | 38,800 | + 14 | + 120 | 38,800 |
Total factors supplying reserve funds | 1,943,478 | - 8,738 | +1,018,076 | 1,936,120 |
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 reserve balances of depository institutions at Federal Reserve Banks |
Averages of daily figures | Wednesday Mar 4, 2009 |
||
---|---|---|---|---|
Week ended Mar 4, 2009 |
Change from week ended | |||
Feb 25, 2009 | Mar 5, 2008 | |||
Currency in circulation (15) | 895,114 | + 1,418 | + 79,215 | 897,131 |
Reverse repurchase agreements (16) | 72,625 | + 4,782 | + 29,487 | 71,262 |
Foreign official and international accounts | 72,625 | + 4,782 | + 29,487 | 71,262 |
Dealers | 0 | 0 | 0 | 0 |
Treasury cash holdings | 284 | + 6 | + 24 | 295 |
Deposits with F.R. Banks, other than reserve balances | 276,319 | + 29,113 | + 264,334 | 300,653 |
U.S. Treasury, general account | 52,413 | + 16,830 | + 47,546 | 68,282 |
U.S. Treasury, supplementary financing account | 199,950 | 0 | + 199,950 | 199,950 |
Foreign official | 1,547 | - 1,135 | + 1,450 | 1,640 |
Service-related | 4,466 | - 10 | - 2,284 | 4,466 |
Required clearing balances | 4,466 | - 10 | - 2,284 | 4,466 |
Adjustments to compensate for float | 0 | 0 | 0 | 0 |
Other | 17,942 | + 13,426 | + 17,671 | 26,315 |
Other liabilities and capital (17) | 51,332 | + 448 | + 6,936 | 51,512 |
Total factors, other than reserve balances, | ||||
absorbing reserve funds | 1,295,673 | + 35,767 | + 379,995 | 1,320,853 |
Reserve balances with Federal Reserve Banks | 647,805 | - 44,505 | + 638,081 | 615,267 |
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
Memorandum item |
Averages of daily figures | Wednesday Mar 4, 2009 |
||
---|---|---|---|---|
Week ended Mar 4, 2009 |
Change from week ended | |||
Feb 25, 2009 | Mar 5, 2008 | |||
Marketable securities held in custody for foreign | ||||
official and international accounts (1) | 2,596,440 | + 15,714 | + 446,428 | 2,599,214 |
U.S. Treasury securities | 1,779,256 | + 12,583 | + 498,629 | 1,783,008 |
Federal agency securities (2) | 817,184 | + 3,131 | - 52,201 | 816,206 |
Securities lent to dealers | 117,853 | + 12 | + 98,833 | 117,769 |
Overnight facility (3) | 5,683 | - 602 | - 13,337 | 5,599 |
Term facility (4,5) | 112,170 | + 614 | + 112,170 | 112,170 |
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.
5. On March 4, 2009, option contracts on draws on the Term Securities Lending Facility totaling $ 35,000
million were outstanding. The exercise date for the options is March 26, 2009, and the draws have a term of
March 27, 2009 through April 3, 2009.
2. Maturity Distribution of Term Auction Credit, Other Loans, and Securities, March 4, 2009
Millions of dollars
Remaining maturity |
Within 15 days |
16 days to 90 days |
91 days to 1 year |
Over 1 year to 5 years |
Over 5 years to 10 years |
Over 10 years |
All |
---|---|---|---|---|---|---|---|
Term auction credit | 142,328 | 350,818 | --- | --- | --- | --- | 493,145 |
Other loans (1) | 86,458 | 11,861 | 55 | 41,969 | --- | --- | 140,343 |
U.S. Treasury securities (2) | |||||||
Holdings | 13,258 | 31,686 | 60,732 | 168,922 | 100,588 | 99,432 | 474,619 |
Weekly changes | - 6,418 | + 4,863 | - 581 | + 949 | + 1,172 | - 10 | - 24 |
Federal agency debt securities (3) | |||||||
Holdings | 977 | 571 | 2,567 | 26,690 | 7,433 | 0 | 38,238 |
Weekly changes | + 528 | - 628 | 0 | 0 | 0 | 0 | - 100 |
Mortgage-backed securities (4) | |||||||
Holdings | 0 | 0 | 0 | 0 | 0 | 68,902 | 68,902 |
Weekly changes | 0 | 0 | 0 | 0 | 0 | + 157 | + 157 |
Commercial paper held by | |||||||
Commercial Paper Funding | |||||||
Facility LLC (5) | 19,041 | 221,222 | 0 | --- | --- | --- | 240,262 |
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) | 140,285 | 174,926 | 0 | 0 | 0 | 0 | 315,211 |
Reverse repurchase agreements (7) | 71,262 | 0 | --- | --- | --- | --- | 71,262 |
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
Account name | Wednesday Mar 4, 2009 |
---|---|
Net portfolio holdings of Maiden Lane LLC (1) | 26,107 |
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) | 292 |
Outstanding principal amount and accrued interest on loan payable to JPMorgan Chase & Co. (3) | 1,198 |
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
Account name | Wednesday Mar 4, 2009 |
---|---|
Net portfolio holdings of Maiden Lane II LLC (1) | 18,708 |
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) | 75 |
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
Account name | Wednesday Mar 4, 2009 |
---|---|
Net portfolio holdings of Maiden Lane III LLC (1) | 27,745 |
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) | 106 |
Outstanding principal amount and accrued interest on loan payable to American International | |
Group, Inc. (3) | 5,052 |
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
Account name | Wednesday Mar 4, 2009 |
---|---|
Commercial paper holdings, net (1) | 238,876 |
Other investments, net | 2,420 |
Net portfolio holdings of Commercial Paper Funding Facility LLC | 241,296 |
Memorandum: Commercial paper holdings, face value | 240,262 |
Outstanding principal amount of loan extended by the Federal Reserve Bank of New York (2) | 238,943 |
Accrued interest payable to the Federal Reserve Bank of New York (2) | 82 |
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
Account name | Wednesday Mar 4, 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
Assets, liabilities, and capital | Eliminations from consolidation |
Change since | ||
---|---|---|---|---|
Wednesday Mar 4, 2009 |
Wednesday Feb 25, 2009 |
Wednesday Mar 5, 2008 |
||
Assets | ||||
Gold certificate account | 11,037 | 0 | 0 | |
Special drawing rights certificate account | 2,200 | 0 | 0 | |
Coin | 1,848 | - 7 | + 497 | |
Securities, repurchase agreements, term auction | ||||
credit, and other loans | 1,215,247 | + 47,059 | + 389,572 | |
Securities held outright | 581,759 | + 33 | - 131,629 | |
U.S. Treasury securities (1) | 474,619 | - 24 | - 238,769 | |
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) | 3,905 | - 24 | - 676 | |
Federal agency debt securities (2) | 38,238 | - 100 | + 38,238 | |
Mortgage-backed securities (4) | 68,902 | + 157 | + 68,902 | |
Repurchase agreements (5) | 0 | 0 | - 52,250 | |
Term auction credit | 493,145 | + 45,582 | + 433,145 | |
Other loans | 140,343 | + 1,444 | + 140,306 | |
Net portfolio holdings of Commercial Paper | ||||
Funding Facility LLC (6) | 241,296 | - 1,207 | + 241,296 | |
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) | 26,107 | + 138 | + 26,107 | |
Net portfolio holdings of Maiden Lane II LLC (9) | 18,708 | + 61 | + 18,708 | |
Net portfolio holdings of | ||||
Maiden Lane III LLC (10) | 27,745 | + 50 | + 27,745 | |
Items in process of collection | (517) | 705 | - 254 | - 1,010 |
Bank premises | 2,182 | - 5 | + 42 | |
Central bank liquidity swaps (11) | 315,211 | - 59,736 | + 315,211 | |
Other assets (12) | 40,512 | - 882 | + 928 | |
Total assets | (517) | 1,902,798 | - 14,783 | +1,019,096 |
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
Assets, liabilities, and capital | Eliminations from consolidation |
Change since | ||
---|---|---|---|---|
Wednesday Mar 4, 2009 |
Wednesday Feb 25, 2009 |
Wednesday Mar 5, 2008 |
||
Liabilities | ||||
Federal Reserve notes, net of F.R. Bank holdings | 860,470 | + 1,732 | + 79,701 | |
Reverse repurchase agreements (13) | 71,262 | + 3,549 | + 30,450 | |
Deposits | (0) | 915,900 | - 21,128 | + 901,005 |
Depository institutions | 619,713 | - 81,430 | + 609,984 | |
U.S. Treasury, general account | 68,282 | + 43,173 | + 63,488 | |
U.S. Treasury, supplementary financing account | 199,950 | 0 | + 199,950 | |
Foreign official | 1,640 | - 593 | + 1,542 | |
Other | (0) | 26,315 | + 17,722 | + 26,040 |
Deferred availability cash items | (517) | 3,654 | + 544 | + 394 |
Other liabilities and accrued dividends (14) | 8,813 | + 15 | + 4,398 | |
Total liabilities | (517) | 1,860,098 | - 15,289 | +1,015,947 |
Capital accounts | ||||
Capital paid in | 22,194 | + 4 | + 2,733 | |
Surplus | 20,267 | + 435 | + 1,809 | |
Other capital accounts | 238 | + 66 | - 1,394 | |
Total capital | 42,699 | + 505 | + 3,148 |
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, March 4, 2009
Millions of dollars
Assets, liabilities, and capital | Total | Boston | New York | Philadelphia | Cleveland | Richmond | Atlanta | Chicago | St. Louis | Minneapolis | Kansas City |
Dallas | San 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 | 1,848 | 62 | 82 | 156 | 154 | 255 | 225 | 216 | 45 | 59 | 126 | 184 | 282 |
Securities, repurchase agreements, term | |||||||||||||
auction credit, and other loans | 1,215,247 | 54,371 | 565,688 | 72,355 | 33,513 | 139,769 | 71,727 | 59,812 | 24,912 | 17,023 | 23,886 | 30,981 | 121,210 |
Securities held outright | 581,759 | 24,401 | 206,986 | 25,400 | 22,060 | 52,753 | 57,884 | 51,346 | 20,104 | 10,983 | 21,361 | 24,132 | 64,349 |
U.S. Treasury securities (1) | 474,619 | 19,907 | 168,866 | 20,723 | 17,997 | 43,038 | 47,224 | 41,890 | 16,401 | 8,960 | 17,427 | 19,688 | 52,498 |
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) | 456,196 | 19,135 | 162,312 | 19,918 | 17,299 | 41,367 | 45,391 | 40,264 | 15,765 | 8,612 | 16,751 | 18,923 | 50,460 |
Federal agency debt securities (2) | 38,238 | 1,604 | 13,605 | 1,670 | 1,450 | 3,467 | 3,805 | 3,375 | 1,321 | 722 | 1,404 | 1,586 | 4,230 |
Mortgage-backed securities (4) | 68,902 | 2,890 | 24,515 | 3,008 | 2,613 | 6,248 | 6,856 | 6,081 | 2,381 | 1,301 | 2,530 | 2,858 | 7,621 |
Repurchase agreements (5) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Term auction credit | 493,145 | 21,622 | 233,360 | 46,815 | 11,445 | 86,488 | 13,623 | 6,469 | 4,564 | 5,699 | 2,477 | 5,675 | 54,909 |
Other loans | 140,343 | 8,348 | 125,341 | 139 | 8 | 529 | 220 | 1,998 | 245 | 341 | 48 | 1,174 | 1,952 |
Net portfolio holdings of Commercial | |||||||||||||
Paper Funding Facility LLC (6) | 241,296 | 0 | 241,296 | 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) | 26,107 | 0 | 26,107 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Net portfolio holdings of Maiden | |||||||||||||
Lane II LLC (9) | 18,708 | 0 | 18,708 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Net portfolio holdings of Maiden | |||||||||||||
Lane III LLC (10) | 27,745 | 0 | 27,745 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Items in process of collection | 1,221 | 63 | 0 | 203 | 138 | 45 | 47 | 279 | 46 | 87 | 42 | 106 | 167 |
Bank premises | 2,182 | 122 | 210 | 65 | 146 | 230 | 224 | 207 | 132 | 112 | 272 | 249 | 212 |
Central bank liquidity swaps (11) | 315,211 | 12,040 | 94,621 | 33,014 | 22,134 | 85,281 | 22,983 | 10,032 | 2,990 | 4,626 | 2,965 | 3,864 | 20,661 |
Other assets (12) | 40,512 | 1,672 | 12,502 | 3,275 | 2,348 | 8,161 | 3,462 | 2,224 | 844 | 695 | 863 | 1,025 | 3,441 |
Interdistrict settlement account | 0 | - 9,181 | - 57,994 | - 49,899 | + 11,316 | - 36,439 | + 36,832 | + 31,343 | + 6,113 | - 1,709 | + 22,638 | + 21,090 | + 25,891 |
Total assets | 1,903,314 | 59,689 | 933,774 | 59,704 | 70,276 | 198,341 | 136,888 | 105,238 | 35,498 | 21,121 | 51,208 | 58,233 | 173,345 |
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, March 4, 2009 (continued)
Millions of dollars
Assets, liabilities, and capital | Total | Boston | New York | Philadelphia | Cleveland | Richmond | Atlanta | Chicago | St. Louis | Minneapolis | Kansas City |
Dallas | San Francisco |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Liabilities | |||||||||||||
Federal Reserve notes outstanding | 1,037,277 | 37,558 | 362,692 | 40,829 | 45,952 | 79,871 | 134,117 | 85,441 | 28,948 | 18,937 | 29,407 | 62,087 | 111,437 |
Less: Notes held by F.R. Banks | 176,807 | 5,658 | 50,108 | 5,359 | 7,375 | 12,208 | 29,340 | 13,559 | 3,631 | 2,984 | 3,574 | 16,796 | 26,215 |
Federal Reserve notes, net | 860,470 | 31,900 | 312,583 | 35,470 | 38,577 | 67,664 | 104,777 | 71,882 | 25,317 | 15,953 | 25,833 | 45,291 | 85,223 |
Reverse repurchase agreements (13) | 71,262 | 2,989 | 25,355 | 3,111 | 2,702 | 6,462 | 7,090 | 6,290 | 2,463 | 1,345 | 2,617 | 2,956 | 7,882 |
Deposits | 915,900 | 22,724 | 577,993 | 15,737 | 25,148 | 111,796 | 21,021 | 24,763 | 7,063 | 2,516 | 22,043 | 8,946 | 76,149 |
Depository institutions | 619,713 | 22,720 | 281,930 | 15,733 | 25,145 | 111,704 | 21,017 | 24,761 | 7,057 | 2,515 | 22,041 | 8,945 | 76,145 |
U.S. Treasury, general account | 68,282 | 0 | 68,282 | 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 | 1,640 | 2 | 1,610 | 4 | 3 | 11 | 3 | 1 | 0 | 1 | 0 | 1 | 3 |
Other | 26,315 | 3 | 26,221 | 0 | 0 | 81 | 0 | 0 | 5 | 0 | 1 | 0 | 2 |
Deferred availability cash items | 4,171 | 132 | 0 | 645 | 579 | 297 | 354 | 528 | 60 | 384 | 156 | 300 | 735 |
Other liabilities and accrued | |||||||||||||
dividends (14) | 8,813 | 158 | 6,325 | 184 | 181 | 460 | 357 | 289 | 155 | 106 | 118 | 170 | 309 |
Total liabilities | 1,860,615 | 57,904 | 922,256 | 55,148 | 67,187 | 186,679 | 133,599 | 103,752 | 35,057 | 20,304 | 50,767 | 57,663 | 170,298 |
Capital | |||||||||||||
Capital paid in | 22,194 | 903 | 6,282 | 2,320 | 1,597 | 5,979 | 1,644 | 730 | 216 | 485 | 214 | 281 | 1,543 |
Surplus | 20,267 | 844 | 5,236 | 2,237 | 1,492 | 5,682 | 1,612 | 704 | 210 | 324 | 208 | 271 | 1,449 |
Other capital | 238 | 38 | 0 | 0 | 0 | 0 | 33 | 52 | 16 | 8 | 19 | 19 | 55 |
Total liabilities and capital | 1,903,314 | 59,689 | 933,774 | 59,704 | 70,276 | 198,341 | 136,888 | 105,238 | 35,498 | 21,121 | 51,208 | 58,233 | 173,345 |
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, March 4, 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 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 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 Mar 4, 2009 |
---|---|
Federal Reserve notes outstanding | 1,037,277 |
Less: Notes held by F.R. Banks not subject to collateralization | 176,807 |
Federal Reserve notes to be collateralized | 860,470 |
Collateral held against Federal Reserve notes | 860,470 |
Gold certificate account | 11,037 |
Special drawing rights certificate account | 2,200 |
U.S. Treasury, agency debt, and mortgage-backed securities pledged (1) | 514,939 |
Other assets pledged | 332,294 |
Memo: | |
Total U.S. Treasury, agency debt, and mortgage-backed securities (1) | 581,759 |
Less: Face value of securities under reverse repurchase agreements | 66,820 |
U.S. Treasury, agency debt, and mortgage-backed securities | |
eligible to be pledged | 514,939 |
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.