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Release Date: December 3, 2009
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4:30 p.m. EDT
December 3, 2009
The Board's H.4.1 statistical release, "Factors Affecting Reserve Balances of
Depository Institutions and Condition Statement of Federal Reserve Banks," has
been modified to include information related to the Federal Reserve Bank of New
York's (FRBNY) preferred interests in AIA Aurora LLC and ALICO Holdings LLC.
This information is presented in table 1, in a new table 9, "Supplemental
Information on the Federal Reserve Bank of New York's Preferred Interests in AIA
Aurora LLC and ALICO Holdings LLC," in table 10, and in table 11.
In conjunction with the restructuring of the government's assistance to American
International Group (AIG) announced March 2, 2009, the outstanding balance and
amount available of revolving credit provided to AIG by the FRBNY has been
reduced in exchange for preferred interests in two special purpose vehicles, AIA
Aurora LLC and ALICO Holdings LLC. These two limited liability companies were
created to directly or indirectly hold all of the outstanding common stock of
American International Assurance Company Ltd. (AIA) and American Life Insurance
Company (ALICO), two life insurance subsidiaries of AIG. AIG will retain
control of AIA Aurora LLC and ALICO Holdings LLC, and the FRBNY will have
certain consent, disposition, and conversion rights with respect to its
preferred interests.
The FRBNY's combined preferred interests in AIA Aurora LLC and ALICO Holdings
LLC are presented in table 1, in table 10, and in table 11. Supplemental
information on the FRBNY's preferred interests in the two LLCs is presented in
table 9. This table presents the FRBNY's preferred interests in the two LLCs
and the accrued dividends on those preferred interests.
FEDERAL RESERVE statistical release
H.4.1
Factors Affecting Reserve Balances of Depository Institutions and
Condition Statement of Federal Reserve Banks
December 3, 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 Dec 2, 2009 Nov 25, 2009 Dec 3, 2008 Dec 2, 2009
Reserve Bank credit 2,187,072 - 2,759 + 69,485 2,186,478
Securities held outright (1) 1,783,761 - 1,268 +1,295,316 1,783,780
U.S. Treasury securities 776,539 + 7 + 300,150 776,543
Bills (2) 18,423 0 0 18,423
Notes and bonds, nominal (2) 707,649 0 + 297,158 707,649
Notes and bonds, inflation-indexed (2) 44,643 0 + 3,572 44,643
Inflation compensation (3) 5,825 + 7 - 578 5,829
Federal agency debt securities (2) 155,066 + 1,441 + 143,009 155,066
Mortgage-backed securities (4) 852,156 - 2,716 + 852,156 852,172
Repurchase agreements (5) 0 0 - 80,000 0
Term auction credit 101,009 0 - 305,499 101,009
Other loans 102,515 - 5,969 - 153,058 84,817
Primary credit 19,818 - 114 - 70,515 19,681
Secondary credit 0 0 - 158 0
Seasonal credit 47 - 22 + 43 33
Primary dealer and other broker-dealer credit (6) 0 0 - 57,198 0
Asset-Backed Commercial Paper Money Market
Mutual Fund Liquidity Facility 0 0 - 51,936 0
Credit extended to American International
Group, Inc., net (7) 38,172 - 6,771 - 17,772 20,660
Term Asset-Backed Securities Loan Facility, net (8) 44,478 + 939 + 44,478 44,443
Other credit extensions 0 0 0 0
Net portfolio holdings of Commercial Paper
Funding Facility LLC (9) 15,041 - 1 - 282,535 15,032
Net portfolio holdings of Maiden Lane LLC (10) 26,394 + 44 - 600 26,464
Net portfolio holdings of Maiden Lane II LLC (11) 15,846 + 69 + 15,846 15,847
Net portfolio holdings of Maiden Lane III LLC (12) 22,967 + 15 + 1,814 22,989
Net portfolio holdings of TALF LLC (13) 266 0 + 266 266
Preferred interests in AIA Aurora LLC and ALICO
Holdings LLC (14) 7,143 + 7,143 + 7,143 25,000
Float -1,743 - 143 - 769 -2,126
Central bank liquidity swaps (15) 23,434 - 2,377 - 478,901 23,038
Other Federal Reserve assets (16) 90,440 - 270 + 50,465 90,361
Gold stock 11,041 0 0 11,041
Special drawing rights certificate account 5,200 0 + 3,000 5,200
Treasury currency outstanding (17) 42,633 + 14 + 3,959 42,628
Total factors supplying reserve funds 2,245,947 - 2,744 + 76,445 2,245,347
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
reserve balances of depository institutions at Week ended Change from week ended Wednesday
Federal Reserve Banks Dec 2, 2009 Nov 25, 2009 Dec 3, 2008 Dec 2, 2009
Currency in circulation (17) 922,940 + 3,008 + 50,527 922,801
Reverse repurchase agreements (18) 58,153 + 28 - 38,572 57,558
Foreign official and international accounts 58,153 + 28 - 13,572 57,558
Dealers 0 0 - 25,000 0
Treasury cash holdings 232 - 1 - 9 228
Deposits with F.R. Banks, other than reserve balances 59,749 + 10,864 - 453,146 80,921
U.S. Treasury, general account 38,243 + 12,339 - 22,806 60,164
U.S. Treasury, supplementary financing account 14,999 0 - 425,529 14,999
Foreign official 2,599 - 564 + 2,409 2,080
Service-related 3,033 - 4 - 1,926 3,033
Required clearing balances 3,033 - 4 - 1,923 3,033
Adjustments to compensate for float 0 0 - 3 0
Other 874 - 908 - 5,294 644
Other liabilities and capital (19) 65,546 + 138 + 12,232 64,851
Total factors, other than reserve balances,
absorbing reserve funds 1,106,620 + 14,037 - 428,968 1,126,360
Reserve balances with Federal Reserve Banks 1,139,326 - 16,782 + 505,413 1,118,987
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. Includes outstanding principal and capitalized interest net of unamortized deferred commitment fees and
allowance for loan restructuring. Excludes credit extended to consolidated LLCs.
8. Includes credit extended by the Federal Reserve Bank of New York to eligible borrowers through the Term
Asset-Backed Securities Loan Facility, net of unamortized deferred administrative fees.
9. Refer to table 7 and the note on consolidation accompanying table 11.
10. Refer to table 4 and the note on consolidation accompanying table 11.
11. Refer to table 5 and the note on consolidation accompanying table 11.
12. Refer to table 6 and the note on consolidation accompanying table 11.
13. Refer to table 8 and the note on consolidation accompanying table 11.
14. Refer to table 9.
15. 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.
16. Includes other assets denominated in foreign currencies, which are revalued daily at market exchange rates,
and accrued dividends on the Federal Reserve Bank of New York's preferred interests in AIA Aurora LLC and
ALICO Holdings LLC.
17. Estimated.
18. Cash value of agreements, which are collateralized by U.S. Treasury securities and federal agency debt
securities.
19. Includes the liabilities of Commercial Paper Funding Facility LLC, Maiden Lane LLC, Maiden Lane II LLC,
Maiden Lane III LLC, and TALF LLC to entities other than the Federal Reserve Bank of New York, including
liabilities that have recourse only to the portfolio holdings of these LLCs. Refer to table 4 through
table 8 and the note on consolidation accompanying table 11.
Sources: Federal Reserve Banks and the U.S. Department of the Treasury.
1A. Memorandum Items
Millions of dollars
Averages of daily figures
Memorandum item Week ended Change from week ended Wednesday
Dec 2, 2009 Nov 25, 2009 Dec 3, 2008 Dec 2, 2009
Marketable securities held in custody for foreign
official and international accounts (1) 2,931,500 + 6,199 + 436,702 2,942,149
U.S. Treasury securities 2,163,510 + 5,145 + 536,800 2,171,195
Federal agency securities (2) 767,991 + 1,054 - 100,097 770,953
Securities lent to dealers 9,235 + 3,074 - 187,844 9,205
Overnight facility (3) 9,235 + 3,074 + 3,048 9,205
U.S. Treasury securities 7,738 + 2,628 + 1,551 8,041
Federal agency debt securities 1,496 + 446 + 1,496 1,164
Term facility (4) 0 0 - 190,892 0
Note: Components may not sum to totals because of rounding.
1. Face value of the securities. Includes U.S. Treasury STRIPS, other zero-coupon bonds, and mortgage-backed
securities at face value.
2. Includes debt and mortgage-backed securities.
3. Fully collateralized by U.S. Treasury securities.
4. U.S. Treasury securities only. Fully collateralized by U.S. Treasury securities, federal agency securities, and other highly rated debt securities.
2. Maturity Distribution of Term Auction Credit, Other Loans, and Securities, December 2, 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 87,857 13,152 --- --- --- --- 101,009
Other loans (1) 15,212 4,502 0 65,103 0 --- 84,817
U.S. Treasury securities (2)
Holdings 15,039 24,457 49,713 330,020 212,649 144,665 776,543
Weekly changes - 989 + 346 + 1,002 - 1,316 + 963 + 3 + 8
Federal agency debt securities (3)
Holdings 30 1,591 22,333 95,670 33,395 2,047 155,066
Weekly changes 0 0 0 0 0 0 0
Mortgage-backed securities (4)
Holdings 0 0 0 0 0 852,172 852,172
Weekly changes 0 0 0 0 0 + 48 + 48
Commercial paper held by
Commercial Paper Funding
Facility LLC (5) 1,029 9,440 0 --- --- --- 10,469
Asset-backed securities held by
TALF LLC (6) 0 0 0 0 0 0 0
Repurchase agreements (7) 0 0 --- --- --- --- 0
Central bank liquidity swaps (8) 18,811 4,227 0 0 0 0 23,038
Reverse repurchase agreements (7) 57,558 0 --- --- --- --- 57,558
Note: Components may not sum to totals because of rounding.
--- Not applicable.
1. Excludes the loans from the Federal Reserve Bank of New York (FRBNY) to Commercial Paper Funding Facility LLC, Maiden
Lane LLC, Maiden Lane II LLC, Maiden Lane III LLC, and TALF LLC. The loans were eliminated when preparing the FRBNY's
statement of condition consistent with consolidation under generally accepted accounting principles.
2. Face value. For inflation-indexed securities, includes the original face value and compensation that adjusts for
the effect of inflation on the original face value of such securities.
3. Face value.
4. Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. Current face value of the securities, which is the remaining
principal balance of the underlying mortgages.
5. Face value of commercial paper held by Commercial Paper Funding Facility LLC.
6. Face value of asset-backed securities held by TALF LLC, which is the remaining principal balance of the underlying assets.
7. Cash value of agreements.
8. Dollar value of foreign currency held under these agreements valued at the exchange rate to be used when the foreign
currency is returned to the foreign central bank. This exchange rate equals the market exchange rate used when the
foreign currency was acquired from the foreign central bank.
3. Supplemental Information on Mortgage-Backed Securities Purchase Program
Millions of dollars
Wednesday
Account name Dec 2, 2009
Mortgage-backed securities held outright (1) 852,172
Commitments to buy mortgage-backed securities (2) 162,380
Commitments to sell mortgage-backed securities (2) 0
Cash and cash equivalents (3) 66
1. Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. Current face value of the securities, which is the
remaining principal balance of the underlying mortgages.
2. Current face value. Generally settle within 180 days and include commitments associated with outright
transactions as well as dollar rolls.
3. This amount is included in other Federal Reserve assets in table 1 and in other assets in table 10 and table 11.
4. Information on Principal Accounts of Maiden Lane LLC
Millions of dollars
Wednesday
Account name Dec 2, 2009
Net portfolio holdings of Maiden Lane LLC (1) 26,464
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) 401
Outstanding principal amount and accrued interest on loan payable to JPMorgan Chase & Co. (3) 1,243
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 September 30, 2009. Any assets purchased after this valuation date
are initially recorded at cost until their estimated fair value as of the purchase date becomes available.
2. Book value. This amount was eliminated when preparing the Federal Reserve Bank of New York's statement
of condition consistent with consolidation under generally accepted accounting principles. Refer to
the note on consolidation accompanying table 11.
3. Book value. The fair value of these obligations is included in other liabilities and capital in table 1
and in other liabilities and accrued dividends in table 10 and table 11.
Note: On June 26, 2008, the Federal Reserve Bank of New York (FRBNY) extended credit to Maiden Lane LLC
under the authority of section 13(3) of the Federal Reserve Act. This limited liability company was formed
to acquire certain assets of Bear Stearns and to manage those assets through time to maximize repayment of
the credit extended and to minimize disruption to financial markets. Payments by Maiden Lane LLC from the
proceeds of the net portfolio holdings will be made in the following order: operating expenses of the LLC,
principal due to the FRBNY, interest due to the FRBNY, principal due to JPMorgan Chase & Co., and interest
due to JPMorgan Chase & Co. Any remaining funds will be paid to the FRBNY.
5. Information on Principal Accounts of Maiden Lane II LLC
Millions of dollars
Wednesday
Account name Dec 2, 2009
Net portfolio holdings of Maiden Lane II LLC (1) 15,847
Outstanding principal amount of loan extended by the Federal Reserve Bank of New York (2) 16,018
Accrued interest payable to the Federal Reserve Bank of New York (2) 250
Deferred payment and accrued interest payable to subsidiaries of American International
Group, Inc. (3) 1,034
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 September 30, 2009. Any assets purchased after this valuation date
are initially recorded at cost until their estimated fair value as of the purchase date becomes available.
2. Book value. This amount was eliminated when preparing the Federal Reserve Bank of New York's statement
of condition consistent with consolidation under generally accepted accounting principles. Refer to the
note on consolidation accompanying table 11.
3. Book value. The deferred payment represents the portion of the proceeds of the net portfolio holdings due
to subsidiaries of American International Group, Inc. in accordance with the asset purchase agreement.
The fair value of this payment and accrued interest payable are included in other liabilities and capital
in table 1 and in other liabilities and accrued dividends in table 10 and table 11.
Note: On December 12, 2008, the Federal Reserve Bank of New York (FRBNY) began extending credit to Maiden
Lane II LLC under the authority of section 13(3) of the Federal Reserve Act. This limited liability company
was formed to purchase residential mortgage-backed securities from the U.S. securities lending reinvestment
portfolio of subsidiaries of American International Group, Inc. (AIG subsidiaries). Payments by Maiden
Lane II LLC from the proceeds of the net portfolio holdings will be made in the following order: operating
expenses of Maiden Lane II LLC, principal due to the FRBNY, interest due to the FRBNY, and deferred payment
and interest due to AIG subsidiaries. Any remaining funds will be shared by the FRBNY and AIG subsidiaries.
6. Information on Principal Accounts of Maiden Lane III LLC
Millions of dollars
Wednesday
Account name Dec 2, 2009
Net portfolio holdings of Maiden Lane III LLC (1) 22,989
Outstanding principal amount of loan extended by the Federal Reserve Bank of New York (2) 18,615
Accrued interest payable to the Federal Reserve Bank of New York (2) 322
Outstanding principal amount and accrued interest on loan payable to American International
Group, Inc. (3) 5,180
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 September 30, 2009. Any assets purchased after this valuation date
are initially recorded at cost until their estimated fair value as of the purchase date becomes available.
2. Book value. This amount was eliminated when preparing the Federal Reserve Bank of New York's statement
of condition consistent with consolidation under generally accepted accounting principles. Refer to the
note on consolidation accompanying table 11.
3. Book value. The fair value of these obligations is included in other liabilities and capital in table 1
and in other liabilities and accrued dividends in table 10 and table 11.
Note: On November 25, 2008, the Federal Reserve Bank of New York (FRBNY) began extending credit to Maiden Lane
III LLC under the authority of section 13(3) of the Federal Reserve Act. This limited liability company was
formed to purchase multi-sector collateralized debt obligations (CDOs) on which the Financial Products group
of American International Group, Inc. (AIG) has written credit default swap (CDS) contracts. In connection
with the purchase of CDOs, the CDS counterparties will concurrently unwind the related CDS transactions.
Payments by Maiden Lane III LLC from the proceeds of the net portfolio holdings will be made in the following
order: operating expenses of Maiden Lane III LLC, principal due to the FRBNY, interest due to the FRBNY,
principal due to AIG, and interest due to AIG. Any remaining funds will be shared by the FRBNY and AIG.
7. Information on Principal Accounts of Commercial Paper Funding Facility LLC
Millions of dollars
Wednesday
Account name Dec 2, 2009
Commercial paper holdings, net (1) 10,216
Other investments, net 4,816
Net portfolio holdings of Commercial Paper Funding Facility LLC 15,032
Memorandum: Commercial paper holdings, face value 10,469
Outstanding principal amount of loan extended by the Federal Reserve Bank of New York (2) 10,395
Accrued interest payable to the Federal Reserve Bank of New York (2) 3
1. Book value, which includes amortized cost and related fees.
2. Book value. This amount was eliminated when preparing the Federal Reserve Bank of New York's statement of
condition consistent with consolidation under generally accepted accounting principles. Refer to the
note on consolidation accompanying table 11.
Note: On October 27, 2008, the Federal Reserve Bank of New York began extending loans under the authority of
section 13(3) of the Federal Reserve Act to Commercial Paper Funding Facility LLC. This LLC is a limited
liability company formed to purchase three-month U.S. dollar-denominated commercial paper from eligible issuers
and thereby foster liquidity in short-term funding markets and increase the availability of credit for
businesses and households.
8. Information on Principal Accounts of TALF LLC
Millions of dollars
Wednesday
Account name Dec 2, 2009
Asset-backed securities holdings (1) 0
Other investments, net 266
Net portfolio holdings of TALF LLC 266
Outstanding principal amount of loan extended by the Federal Reserve Bank of New York (2) 0
Accrued interest payable to the Federal Reserve Bank of New York (2) 0
Funding provided by U.S. Treasury to TALF LLC, including accrued interest payable (3) 102
1. Fair value. Fair value reflects an estimate of the price that would be received upon selling an asset if
the transaction were to be conducted in an orderly market on the measurement date.
2. Book value. This amount was eliminated when preparing the Federal Reserve Bank of New York's statement of
condition consistent with consolidation under generally accepted accounting principles. Refer to the note
on consolidation accompanying table 11.
3. Book value. The fair value of these obligations is included in other liabilities and capital in table 1
and in other liabilities and accrued dividends in table 10 and table 11.
Note: On November 25, 2008, the Federal Reserve announced the creation of the Term Asset-Backed Securities Loan
Facility (TALF) under the authority of section 13(3) of the Federal Reserve Act. The TALF is a facility under
which the Federal Reserve Bank of New York (FRBNY) extends loans with a term of up to five years to holders of
eligible asset-backed securities. The TALF is intended to assist financial markets in accommodating the credit
needs of consumers and businesses by facilitating the issuance of asset-backed securities collateralized by a
variety of consumer and business loans. The loans provided through the TALF to eligible borrowers are non-recourse,
meaning that the obligation of the borrower can be discharged by surrendering the collateral to the FRBNY. The
loans are extended for the market value of the security less an amount known as a haircut. As a result, the
borrower bears the initial risk of a decline in the value of the security.
TALF LLC is a limited liability company formed to purchase and manage any asset-backed securities received by
the FRBNY in connection with the decision of a borrower not to repay a TALF loan. TALF LLC has committed, for a
fee, to purchase all asset-backed securities received by the FRBNY in conjunction with a TALF loan at a price
equal to the TALF loan plus accrued but unpaid interest. Losses on asset-backed securities held by TALF LLC
will be offset in the following order: by the commitment fees collected by TALF LLC, by the interest received on
investments of TALF LLC, by up to $20 billion in subordinated debt funding provided by the U.S. Treasury, and
finally, by senior debt funding provided by the FRBNY. Payments by TALF LLC from the proceeds of its net portfolio
holdings will be made in the following order: operating expenses of TALF LLC, principal due to the FRBNY, principal
due to the U.S. Treasury, interest due to the FRBNY, and interest due to the U.S. Treasury. Any remaining funds
will be shared by the FRBNY and the U.S. Treasury.
9. Supplemental Information on the Federal Reserve Bank of New York's Preferred Interests in AIA Aurora LLC and
ALICO Holdings LLC
Millions of dollars
Wednesday
Account name Dec 2, 2009
Preferred interests in AIA Aurora LLC and ALICO Holdings LLC (1) 25,000
Accrued dividends on preferred interests in AIA Aurora LLC and ALICO Holdings LLC (2) 7
Preferred interests in AIA Aurora LLC (1) 16,000
Accrued dividends on preferred interests in AIA Aurora LLC (2) 4
Preferred interests in ALICO Holdings LLC (1) 9,000
Accrued dividends on preferred interests in ALICO Holdings LLC (2) 2
1. Book value.
2. This amount is included in other Federal Reserve assets in table 1 and in other assets in table 10 and table 11.
Note: In conjunction with the restructuring of the government's assistance to American International Group, Inc. (AIG)
announced March 2, 2009, the outstanding balance and amount available of revolving credit provided to AIG by the FRBNY
has been reduced in exchange for preferred interests in two special purpose vehicles, AIA Aurora LLC and ALICO Holdings
LLC. These two limited liability companies were created to directly or indirectly hold all of the outstanding common
stock of American International Assurance Company Ltd. (AIA) and American Life Insurance Company (ALICO), two life
insurance subsidiaries of AIG. AIG will retain control of AIA Aurora LLC and ALICO Holdings LLC, and the FRBNY will
have certain consent, disposition, and conversion rights with respect to its preferred interests.
Dividends accrue as a percentage of the FRBNY's preferred interests in AIA Aurora LLC and ALICO Holdings LLC. On a
quarterly basis, the accrued dividends are capitalized and added to the FRBNY's preferred interests in AIA Aurora LLC
and ALICO Holdings LLC.
10. Consolidated Statement of Condition of All Federal Reserve Banks
Millions of dollars
Eliminations Change since
from Wednesday Wednesday Wednesday
Assets, liabilities, and capital consolidation Dec 2, 2009 Nov 25, 2009 Dec 3, 2008
Assets
Gold certificate account 11,037 0 0
Special drawing rights certificate account 5,200 0 + 3,000
Coin 2,019 + 3 + 379
Securities, repurchase agreements, term auction
credit, and other loans 1,969,607 - 24,706 + 746,421
Securities held outright (1) 1,783,780 + 54 +1,295,854
U.S. Treasury securities 776,543 + 8 + 300,189
Bills (2) 18,423 0 0
Notes and bonds, nominal (2) 707,649 0 + 297,158
Notes and bonds, inflation-indexed (2) 44,643 0 + 3,572
Inflation compensation (3) 5,829 + 8 - 540
Federal agency debt securities (2) 155,066 0 + 143,494
Mortgage-backed securities (4) 852,172 + 48 + 852,172
Repurchase agreements (5) 0 0 - 80,000
Term auction credit 101,009 0 - 305,499
Other loans 84,817 - 24,761 - 163,934
Net portfolio holdings of Commercial Paper
Funding Facility LLC (6) 15,032 - 14 - 288,848
Net portfolio holdings of Maiden Lane LLC (7) 26,464 + 103 - 618
Net portfolio holdings of Maiden Lane II LLC (8) 15,847 + 2 + 15,847
Net portfolio holdings of
Maiden Lane III LLC (9) 22,989 + 28 + 1,806
Net portfolio holdings of TALF LLC (10) 266 0 + 266
Preferred interests in AIA Aurora LLC and
ALICO Holdings LLC (11) 25,000 + 25,000 + 25,000
Items in process of collection (306) 435 - 204 - 1,077
Bank premises 2,231 + 5 + 56
Central bank liquidity swaps (12) 23,038 - 2,773 - 483,781
Other assets (13) 88,121 + 274 + 50,376
Total assets (306) 2,207,286 - 2,281 + 68,828
Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table.
10. Consolidated Statement of Condition of All Federal Reserve Banks (continued)
Millions of dollars
Eliminations Change since
from Wednesday Wednesday Wednesday
Assets, liabilities, and capital consolidation Dec 2, 2009 Nov 25, 2009 Dec 3, 2008
Liabilities
Federal Reserve notes, net of F.R. Bank holdings 882,417 - 617 + 46,588
Reverse repurchase agreements (14) 57,558 - 925 - 34,436
Deposits (0) 1,199,897 - 838 + 44,850
Depository institutions 1,122,010 - 46,560 + 466,831
U.S. Treasury, general account 60,164 + 47,167 + 2,819
U.S. Treasury, supplementary financing account 14,999 0 - 419,108
Foreign official 2,080 - 46 + 1,894
Other (0) 644 - 1,398 - 7,586
Deferred availability cash items (306) 2,561 + 280 + 132
Other liabilities and accrued dividends (15) 12,171 - 49 + 1,827
Total liabilities (306) 2,154,605 - 2,149 + 58,963
Capital accounts
Capital paid in 25,438 + 15 + 4,576
Surplus 21,448 + 8 + 4,273
Other capital accounts 5,795 - 156 + 1,016
Total capital 52,681 - 133 + 9,866
Note: Components may not sum to totals because of rounding.
1. Includes securities lent to dealers under the overnight and term securities lending facilities; refer
to table 1A.
2. Face value of the securities.
3. Compensation that adjusts for the effect of inflation on the original face value of inflation-indexed
securities.
4. Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. Current face value of the securities, which is
the remaining principal balance of the underlying mortgages.
5. Cash value of agreements, which are collateralized by U.S. Treasury and federal agency securities.
6. Refer to table 7 and the note on consolidation accompanying table 11.
7. Refer to table 4 and the note on consolidation accompanying table 11.
8. Refer to table 5 and the note on consolidation accompanying table 11.
9. Refer to table 6 and the note on consolidation accompanying table 11.
10. Refer to table 8 and the note on consolidation accompanying table 11.
11. Refer to table 9.
12. Dollar value of foreign currency held under these agreements valued at the exchange rate to be used when
the foreign currency is returned to the foreign central bank. This exchange rate equals the market
exchange rate used when the foreign currency was acquired from the foreign central bank.
13. Includes other assets denominated in foreign currencies, which are revalued daily at market exchange rates,
and accrued dividends on the Federal Reserve Bank of New York's preferred interests in AIA Aurora LLC and
ALICO Holdings LLC.
14. Cash value of agreements, which are collateralized by U.S. Treasury securities and federal agency debt
securities.
15. Includes the liabilities of Commercial Paper Funding Facility LLC, Maiden Lane LLC, Maiden Lane II LLC,
Maiden Lane III LLC, and TALF LLC to entities other than the Federal Reserve Bank of New York, including
liabilities that have recourse only to the portfolio holdings of these LLCs. Refer to table 4 through
table 8 and the note on consolidation accompanying table 11.
11. Statement of Condition of Each Federal Reserve Bank, December 2, 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 11,037 412 3,895 450 467 882 1,356 911 329 197 335 621 1,182
Special drawing rights certificate acct. 5,200 196 1,818 210 237 412 654 424 150 90 153 282 574
Coin 2,019 68 77 164 147 285 232 279 32 62 136 216 322
Securities, repurchase agreements, term
auction credit, and other loans 1,969,607 41,702 854,878 32,414 72,341 65,525 215,492 195,673 71,040 29,850 81,492 86,803 222,398
Securities held outright (1) 1,783,780 34,218 697,236 27,674 70,474 64,282 214,921 193,024 69,882 29,531 80,518 86,248 215,772
U.S. Treasury securities 776,543 14,896 303,531 12,047 30,680 27,984 93,563 84,030 30,422 12,856 35,052 37,547 93,933
Bills (2) 18,423 353 7,201 286 728 664 2,220 1,994 722 305 832 891 2,228
Notes and bonds (3) 758,120 14,543 296,330 11,762 29,952 27,320 91,343 82,037 29,700 12,551 34,221 36,656 91,705
Federal agency debt securities (2) 155,066 2,975 60,611 2,406 6,126 5,588 18,683 16,780 6,075 2,567 7,000 7,498 18,757
Mortgage-backed securities (4) 852,172 16,347 333,093 13,221 33,668 30,710 102,675 92,214 33,385 14,108 38,466 41,204 103,082
Repurchase agreements (5) 0 0 0 0 0 0 0 0 0 0 0 0 0
Term auction credit 101,009 7,342 74,075 4,578 1,867 1,143 384 2,240 1,138 280 965 550 6,449
Other loans 84,817 141 83,568 162 1 100 187 409 20 39 9 5 177
Net portfolio holdings of Commercial
Paper Funding Facility LLC (6) 15,032 0 15,032 0 0 0 0 0 0 0 0 0 0
Net portfolio holdings of Maiden Lane
LLC (7) 26,464 0 26,464 0 0 0 0 0 0 0 0 0 0
Net portfolio holdings of Maiden
Lane II LLC (8) 15,847 0 15,847 0 0 0 0 0 0 0 0 0 0
Net portfolio holdings of Maiden
Lane III LLC (9) 22,989 0 22,989 0 0 0 0 0 0 0 0 0 0
Net portfolio holdings of TALF LLC (10) 266 0 266 0 0 0 0 0 0 0 0 0 0
Preferred interests in AIA Aurora LLC
and ALICO Holdings LLC (11) 25,000 0 25,000 0 0 0 0 0 0 0 0 0 0
Items in process of collection 742 37 0 136 131 23 169 35 30 28 47 40 65
Bank premises 2,231 120 256 69 145 237 221 205 134 111 268 251 212
Central bank liquidity swaps (12) 23,038 923 6,129 2,531 1,697 6,537 1,762 769 229 355 227 296 1,584
Other assets (13) 88,121 2,275 31,040 4,026 4,384 9,908 9,389 7,451 2,662 1,444 3,022 3,309 9,212
Interdistrict settlement account 0 + 18,765 + 12,593 + 22,065 - 20,594 + 245,190 - 72,222 - 88,091 - 34,633 - 8,524 - 27,780 - 18,515 - 28,253
Total assets 2,207,592 64,498 1,016,284 62,065 58,953 328,999 157,051 117,655 39,974 23,612 57,901 73,305 207,295
Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table.
11. Statement of Condition of Each Federal Reserve Bank, December 2, 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 1,080,996 35,867 398,210 38,845 45,078 82,637 135,717 85,631 30,617 19,461 28,793 63,335 116,805
Less: Notes held by F.R. Banks 198,578 4,277 72,170 6,204 8,651 11,078 31,229 13,128 4,332 2,869 3,234 14,206 27,201
Federal Reserve notes, net 882,417 31,590 326,040 32,640 36,427 71,559 104,488 72,503 26,285 16,591 25,560 49,129 89,604
Reverse repurchase agreements (14) 57,558 1,104 22,498 893 2,274 2,074 6,935 6,228 2,255 953 2,598 2,783 6,962
Deposits 1,199,897 29,635 643,540 22,580 15,717 240,365 41,351 36,768 10,616 4,192 28,887 20,140 106,106
Depository institutions 1,122,010 29,627 565,832 22,575 15,714 240,258 41,347 36,730 10,613 4,192 28,886 20,140 106,097
U.S. Treasury, general account 60,164 0 60,164 0 0 0 0 0 0 0 0 0 0
U.S. Treasury, supplementary
financing account 14,999 0 14,999 0 0 0 0 0 0 0 0 0 0
Foreign official 2,080 2 2,050 4 3 11 3 1 0 1 0 1 3
Other 644 7 494 0 0 96 0 37 3 0 1 0 7
Deferred availability cash items 2,867 87 0 470 388 99 325 190 54 288 168 226 573
Other liabilities and accrued
dividends (15) 12,171 179 8,259 219 287 614 622 521 240 147 223 280 581
Total liabilities 2,154,911 62,595 1,000,337 56,802 55,093 314,710 153,721 116,210 39,450 22,171 57,436 72,559 203,826
Capital
Capital paid in 25,438 944 7,427 2,627 1,910 7,136 1,579 622 240 712 210 350 1,681
Surplus 21,448 844 5,976 2,316 1,551 5,983 1,612 704 209 324 207 271 1,450
Other capital 5,795 114 2,545 320 398 1,170 140 119 75 404 47 125 338
Total liabilities and capital 2,207,592 64,498 1,016,284 62,065 58,953 328,999 157,051 117,655 39,974 23,612 57,901 73,305 207,295
Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table.
11. Statement of Condition of Each Federal Reserve Bank, December 2, 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 7 and the note on consolidation below.
7. Refer to table 4 and the note on consolidation below.
8. Refer to table 5 and the note on consolidation below.
9. Refer to table 6 and the note on consolidation below.
10. Refer to table 8 and the note on consolidation below.
11. Refer to table 9.
12. Dollar value of foreign currency held under these agreements valued at the exchange rate to be used when the foreign currency is returned to the foreign central bank. This
exchange rate equals the market exchange rate used when the foreign currency was acquired from the foreign central bank.
13. Includes other assets denominated in foreign currencies, which are revalued daily at market exchange rates, and accrued dividends on the Federal Reserve Bank of New York's
preferred interests in AIA Aurora LLC and ALICO Holdings LLC.
14. Cash value of agreements, which are collateralized by U.S. Treasury securities and federal agency debt securities.
15. Includes the liabilities of Commercial Paper Funding Facility LLC, Maiden Lane LLC, Maiden Lane II LLC, Maiden Lane III LLC, and TALF LLC to entities other than the Federal Reserve
Bank of New York, including liabilities that have recourse only to the portfolio holdings of these LLCs. Refer to table 4 through table 8 and the note on consolidation below.
Note on consolidation:
The Federal Reserve Bank of New York (FRBNY) has extended loans to several limited liability companies under the authority of section 13(3) of the Federal Reserve Act. On June 26, 2008,
a loan was extended to Maiden Lane LLC, which was formed to acquire certain assets of Bear Stearns. On October 27, 2008, the FRBNY began extending loans to Commercial Paper Funding
Facility LLC, which was formed to purchase three-month U.S. dollar-denominated commercial paper from eligible issuers. On November 25, 2008, a loan was extended to Maiden Lane III LLC,
which was formed to purchase multi-sector collateralized debt obligations on which the Financial Products group of the American International Group, Inc. has written credit default swap
contracts. On December 12, 2008, a loan was extended to Maiden Lane II LLC, which was formed to purchase residential mortgage-backed securities from the U.S. securities lending
reinvestment portfolio of subsidiaries of American International Group, Inc. On November 25, 2008, the Federal Reserve Board authorized the FRBNY to extend credit to TALF LLC, which was
formed to purchase and manage any asset-backed securities received by the FRBNY in connection with the decision of a borrower not to repay a loan extended under the Term Asset-Backed
Securities Loan Facility.
The FRBNY is the sole beneficiary of Commercial Paper Funding Facility LLC. The FRBNY is the primary beneficiary of TALF LLC, because of the two beneficiaries of the LLC, the FRBNY and the
U.S. Treasury, the FRBNY is primarily responsible for directing the financial activities of TALF LLC. The FRBNY is the primary beneficiary of the other LLCs cited above because it will receive
a majority of any residual returns of the LLCs and absorb a majority of any residual losses of the LLCs. Consistent with generally accepted accounting principles, the assets and liabilities of
these LLCs have been consolidated with the assets and liabilities of the FRBNY in the preparation of the statements of condition shown on this release. As a consequence of the consolidation,
the extensions of credit from the FRBNY to the LLCs are eliminated, the net assets of the LLCs appear as assets on the previous page (and in table 1 and table 10), and the liabilities of the
LLCs to entities other than the FRBNY, including those with recourse only to the portfolio holdings of the LLCs, are included in other liabilities in this table (and table 1 and table 10).
12. Collateral Held against Federal Reserve Notes: Federal Reserve Agents' Accounts
Millions of dollars
Federal Reserve notes and collateral Wednesday
Dec 2, 2009
Federal Reserve notes outstanding 1,080,996
Less: Notes held by F.R. Banks not subject to collateralization 198,578
Federal Reserve notes to be collateralized 882,417
Collateral held against Federal Reserve notes 882,417
Gold certificate account 11,037
Special drawing rights certificate account 5,200
U.S. Treasury, agency debt, and mortgage-backed securities pledged (1,2) 866,181
Other assets pledged 0
Memo:
Total U.S. Treasury, agency debt, and mortgage-backed securities (1,2) 1,783,780
Less: Face value of securities under reverse repurchase agreements 56,731
U.S. Treasury, agency debt, and mortgage-backed securities
eligible to be pledged 1,727,049
Note: Components may not sum to totals because of rounding.
1. Includes face value of U.S. Treasury, agency debt, and mortgage-backed securities held outright,
compensation to adjust for the effect of inflation on the original face value of inflation-indexed
securities, and cash value of repurchase agreements.
2. Includes securities lent to dealers under the overnight and term securities lending facilities; refer
to table 1A.
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