Federal Reserve Statistical Release, H.4.1, Factors Affecting Reserve Balances; title with eagle logo links to Statistical Release home page
Release Date:   May 6, 2010
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FEDERAL RESERVE statistical release

H.4.1

Factors Affecting Reserve Balances of Depository Institutions and
Condition Statement of Federal Reserve Banks

May 6, 2010
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
May 5, 2010
Week ended
May 5, 2010		 Change from week ended
Apr 28, 2010 May 6, 2009
Reserve Bank credit 2,311,428 - 5,261 + 270,032 2,308,225
    Securities held outright 1 2,042,250 - 3,132 +1,052,748 2,042,276
        U.S. Treasury securities 776,728 + 12 + 222,640 776,749
            Bills 2 18,423 0 0 18,423
            Notes and bonds, nominal 2 712,057 - 201 + 222,256 712,023
            Notes and bonds, inflation-indexed 2 41,092 + 201 - 161 41,125
            Inflation compensation 3 5,157 + 12 + 546 5,177
        Federal agency debt securities 2 168,225 - 678 + 98,646 168,112
        Mortgage-backed securities 4 1,097,297 - 2,466 + 731,462 1,097,415
    Repurchase agreements 5 0 0 0 0
    Term auction credit 0 0 - 403,573 0
    Other loans 78,098 + 21 - 26,040 77,749
        Primary credit 5,347 - 643 - 35,594 5,207
        Secondary credit 500 - 88 + 494 500
        Seasonal credit 33 + 1 + 29 37
        Primary dealer and other broker-dealer credit 6 0 0 - 643 0
        Asset-Backed Commercial Paper Money Market
            Mutual Fund Liquidity Facility		 0 0 - 10,670 0
        Credit extended to American International
            Group, Inc., net 7		 27,062 + 1,250 - 18,434 27,097
        Term Asset-Backed Securities Loan Facility 8 45,156 - 500 + 38,777 44,908
        Other credit extensions 0 0 0 0
    Net portfolio holdings of Commercial Paper
        Funding Facility LLC 9		 2,796 - 3,766 - 161,944 2
    Net portfolio holdings of Maiden Lane LLC 10 28,231 + 564 + 1,847 28,261
    Net portfolio holdings of Maiden Lane II LLC 11 16,061 + 739 - 1,955 16,063
    Net portfolio holdings of Maiden Lane III LLC 12 23,605 + 1,338 - 2,811 23,665
    Net portfolio holdings of TALF LLC 13 439 0 + 439 439
    Preferred interests in AIA Aurora LLC and ALICO
        Holdings LLC 14		 25,416 0 + 25,416 25,416
    Float -1,935 - 164 + 317 -2,487
    Central bank liquidity swaps 15 0 0 - 249,302 0
    Other Federal Reserve assets 16 96,468 - 859 + 34,891 96,841
Gold stock 11,041 0 0 11,041
Special drawing rights certificate account 5,200 0 + 3,000 5,200
Treasury currency outstanding 17 42,815 + 14 + 496 42,815
 
Total factors supplying reserve funds 2,370,484 - 5,247 + 273,528 2,367,281
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
May 5, 2010
Week ended
May 5, 2010		 Change from week ended
Apr 28, 2010 May 6, 2009
Currency in circulation 17 936,025 + 1,999 + 32,187 938,068
Reverse repurchase agreements 18 57,630 + 4,953 - 8,695 53,483
    Foreign official and international accounts 57,630 + 4,953 - 8,695 53,483
    Dealers 0 0 0 0
Treasury cash holdings 200 - 16 - 108 185
Deposits with F.R. Banks, other than reserve balances 283,885 + 17,764 - 10,245 276,035
    U.S. Treasury, general account 76,667 + 19,505 - 10,416 69,940
    U.S. Treasury, supplementary financing account 199,958 - 1 + 29 199,958
    Foreign official 3,984 - 1,486 + 2,320 3,051
    Service-related 2,666 0 - 1,677 2,666
        Required clearing balances 2,666 0 - 1,677 2,666
        Adjustments to compensate for float 0 0 0 0
    Other 610 - 254 - 500 421
Other liabilities and capital 19 71,500 + 2,263 + 16,266 69,795
 
Total factors, other than reserve balances,
    absorbing reserve funds		 1,349,239 + 26,962 + 29,405 1,337,566
 
Reserve balances with Federal Reserve Banks 1,021,245 - 32,209 + 244,123 1,029,715
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.
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, accrued dividends on the Federal Reserve Bank of New York's (FRBNY) preferred interests in AIA Aurora LLC and ALICO Holdings LLC, and the fair value adjustment to credit extended by the FRBNY to eligible borrowers through the Term Asset-Backed Securities Loan Facility.
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
Memorandum item Averages of daily figures Wednesday
May 5, 2010
Week ended
May 5, 2010		 Change from week ended
Apr 28, 2010 May 6, 2009
Marketable securities held in custody for foreign
    official and international accounts 1		 3,074,856 + 13,760 + 414,700 3,076,956
    U.S. Treasury securities 2,283,127 + 9,702 + 434,656 2,284,608
    Federal agency securities 2 791,729 + 4,058 - 19,956 792,347
Securities lent to dealers 5,313 - 614 - 32,522 4,474
    Overnight facility 3 5,313 - 614 + 28 4,474
        U.S. Treasury securities 3,989 - 554 - 1,296 3,102
        Federal agency debt securities 1,323 - 61 + 1,323 1,372
    Term facility 4 0 0 - 32,550 0
Note: Components may not sum to totals because of rounding.


1. 
Face value of the securities. Includes U.S. Treasury STRIPS, other zero-coupon bonds, and mortgage-backed securities at face value.
2. 
Includes debt and mortgage-backed securities.
3. 
Fully collateralized by U.S. Treasury securities.
4. 
U.S. Treasury securities only. Fully collateralized by U.S. Treasury securities, federal agency securities, and other highly rated debt securities.

2. Maturity Distribution of Term Auction Credit, Other Loans, and Securities, May 5, 2010
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 0 0 ... ... ... ... 0
Other loans 1 5,715 29 0 72,005 0 ... 77,749
U.S. Treasury securities 2  
    Holdings 22,803 11,932 51,337 327,533 218,232 144,912 776,749
    Weekly changes + 7,914 - 7,250 + 2,834 - 4,170 + 691 + 14 + 32
Federal agency debt securities 3  
    Holdings 735 7,996 34,263 89,223 33,548 2,347 168,112
    Weekly changes - 56 - 735 0 0 0 0 - 791
Mortgage-backed securities 4  
    Holdings 0 0 0 33 20 1,097,362 1,097,415
    Weekly changes 0 0 0 0 0 + 999 + 999
Commercial paper held by
    Commercial Paper Funding
    Facility LLC 5		 0 0 0 ... ... ... 0
Asset-backed securities held by
    TALF LLC 6		 0 0 0 0 0 0 0
Repurchase agreements 7 0 0 ... ... ... ... 0
   
Reverse repurchase agreements 7 53,483 0 ... ... ... ... 53,483
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.

3. Supplemental Information on Mortgage-Backed Securities Purchase Program
Millions of dollars
Account name Wednesday
May 5, 2010
Mortgage-backed securities held outright 1 1,097,415
 
Commitments to buy mortgage-backed securities 2 63,963
Commitments to sell mortgage-backed securities 2 0
 
Cash and cash equivalents 3 752
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
Account name Wednesday
May 5, 2010
Net portfolio holdings of Maiden Lane LLC 1 28,261
 
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 2 478
Outstanding principal amount and accrued interest on loan payable to JPMorgan Chase & Co. 3 1,270
1. 
Fair value. Fair value reflects an estimate of the price that would be received upon selling an asset if the transaction were to be conducted in an orderly market on the measurement date. Revalued quarterly. This table reflects valuations as of March 31, 2010. Any assets purchased after this valuation date are initially recorded at cost until their estimated fair value as of the purchase date becomes available.
2. 
Book value. This amount was eliminated when preparing the Federal Reserve Bank of New York's statement of condition consistent with consolidation under generally accepted accounting principles. Refer to the note on consolidation accompanying table 11.
3. 
Book value. The fair value of these obligations is included in other liabilities and capital in table 1 and in other liabilities and accrued dividends in table 10 and table 11.

Note: On June 26, 2008, the Federal Reserve Bank of New York (FRBNY) extended credit to Maiden Lane LLC under the authority of section 13(3) of the Federal Reserve Act. This limited liability company was formed to acquire certain assets of Bear Stearns and to manage those assets through time to maximize repayment of the credit extended and to minimize disruption to financial markets. Payments by Maiden Lane LLC from the proceeds of the net portfolio holdings will be made in the following order: operating expenses of the LLC, principal due to the FRBNY, interest due to the FRBNY, principal due to JPMorgan Chase & Co., and interest due to JPMorgan Chase & Co. Any remaining funds will be paid to the FRBNY.


5. Information on Principal Accounts of Maiden Lane II LLC
Millions of dollars
Account name Wednesday
May 5, 2010
Net portfolio holdings of Maiden Lane II LLC 1 16,063
 
Outstanding principal amount of loan extended by the Federal Reserve Bank of New York 2 14,756
Accrued interest payable to the Federal Reserve Bank of New York 2 331
Deferred payment and accrued interest payable to subsidiaries of American International Group, Inc. 3 1,048
1. 
Fair value. Fair value reflects an estimate of the price that would be received upon selling an asset if the transaction were to be conducted in an orderly market on the measurement date. Revalued quarterly. This table reflects valuations as of March 31, 2010. Any assets purchased after this valuation date are initially recorded at cost until their estimated fair value as of the purchase date becomes available.
2. 
Book value. This amount was eliminated when preparing the Federal Reserve Bank of New York's statement of condition consistent with consolidation under generally accepted accounting principles. Refer to the note on consolidation accompanying table 11.
3. 
Book value. The deferred payment represents the portion of the proceeds of the net portfolio holdings due to subsidiaries of American International Group, Inc. in accordance with the asset purchase agreement. The fair value of this payment and accrued interest payable are included in other liabilities and capital in table 1 and in other liabilities and accrued dividends in table 10 and table 11.

Note: On December 12, 2008, the Federal Reserve Bank of New York (FRBNY) began extending credit to Maiden Lane II LLC under the authority of section 13(3) of the Federal Reserve Act. This limited liability company was formed to purchase residential mortgage-backed securities from the U.S. securities lending reinvestment portfolio of subsidiaries of American International Group, Inc. (AIG subsidiaries). Payments by Maiden Lane II LLC from the proceeds of the net portfolio holdings will be made in the following order: operating expenses of Maiden Lane II LLC, principal due to the FRBNY, interest due to the FRBNY, and deferred payment and interest due to AIG subsidiaries. Any remaining funds will be shared by the FRBNY and AIG subsidiaries.


6. Information on Principal Accounts of Maiden Lane III LLC
Millions of dollars
Account name Wednesday
May 5, 2010
Net portfolio holdings of Maiden Lane III LLC 1 23,665
 
Outstanding principal amount of loan extended by the Federal Reserve Bank of New York 2 16,583
Accrued interest payable to the Federal Reserve Bank of New York 2 415
Outstanding principal amount and accrued interest on loan payable to American International Group, Inc. 3 5,251
1. 
Fair value. Fair value reflects an estimate of the price that would be received upon selling an asset if the transaction were to be conducted in an orderly market on the measurement date. Revalued quarterly. This table reflects valuations as of March 31, 2010. Any assets purchased after this valuation date are initially recorded at cost until their estimated fair value as of the purchase date becomes available.
2. 
Book value. This amount was eliminated when preparing the Federal Reserve Bank of New York's statement of condition consistent with consolidation under generally accepted accounting principles. Refer to the note on consolidation accompanying table 11.
3. 
Book value. The fair value of these obligations is included in other liabilities and capital in table 1 and in other liabilities and accrued dividends in table 10 and table 11.

Note: On November 25, 2008, the Federal Reserve Bank of New York (FRBNY) began extending credit to Maiden Lane III LLC under the authority of section 13(3) of the Federal Reserve Act. This limited liability company was formed to purchase multi-sector collateralized debt obligations (CDOs) on which the Financial Products group of American International Group, Inc. (AIG) has written credit default swap (CDS) contracts. In connection with the purchase of CDOs, the CDS counterparties will concurrently unwind the related CDS transactions. Payments by Maiden Lane III LLC from the proceeds of the net portfolio holdings will be made in the following order: operating expenses of Maiden Lane III LLC, principal due to the FRBNY, interest due to the FRBNY, principal due to AIG, and interest due to AIG. Any remaining funds will be shared by the FRBNY and AIG.


7. Information on Principal Accounts of Commercial Paper Funding Facility LLC
Millions of dollars
Account name Wednesday
May 5, 2010
Commercial paper holdings, net 1 0
Other investments, net 2
Net portfolio holdings of Commercial Paper Funding Facility LLC 2
 
Memorandum: Commercial paper holdings, face value 0
 
Outstanding principal amount of loan extended by the Federal Reserve Bank of New York 2 0
Accrued interest payable to the Federal Reserve Bank of New York 2 0
1. 
Book value, which includes amortized cost and related fees.
2. 
Book value. This amount was eliminated when preparing the Federal Reserve Bank of New York's statement of condition consistent with consolidation under generally accepted accounting principles. Refer to the note on consolidation accompanying table 11.

Note: On October 27, 2008, the Federal Reserve Bank of New York began extending loans under the authority of section 13(3) of the Federal Reserve Act to Commercial Paper Funding Facility LLC. This LLC is a limited liability company formed to purchase three-month U.S. dollar-denominated commercial paper from eligible issuers and thereby foster liquidity in short-term funding markets and increase the availability of credit for businesses and households.


8. Information on Principal Accounts of TALF LLC
Millions of dollars
Account name Wednesday
May 5, 2010
Asset-backed securities holdings 1 0
Other investments, net 439
Net portfolio holdings of TALF LLC 439
 
Outstanding principal amount of loan extended by the Federal Reserve Bank of New York 2 0
Accrued interest payable to the Federal Reserve Bank of New York 2 0
Funding provided by U.S. Treasury to TALF LLC, including accrued interest payable 3 104
1. 
Fair value. Fair value reflects an estimate of the price that would be received upon selling an asset if the transaction were to be conducted in an orderly market on the measurement date.
2. 
Book value. This amount was eliminated when preparing the Federal Reserve Bank of New York's statement of condition consistent with consolidation under generally accepted accounting principles. Refer to the note on consolidation accompanying table 11.
3. 
Book value. The fair value of these obligations is included in other liabilities and capital in table 1 and in other liabilities and accrued dividends in table 10 and table 11.

Note: On November 25, 2008, the Federal Reserve announced the creation of the Term Asset-Backed Securities Loan Facility (TALF) under the authority of section 13(3) of the Federal Reserve Act. The TALF is a facility under which the Federal Reserve Bank of New York (FRBNY) extends loans with a term of up to five years to holders of eligible asset-backed securities. The TALF is intended to assist financial markets in accommodating the credit needs of consumers and businesses by facilitating the issuance of asset-backed securities collateralized by a variety of consumer and business loans. The loans provided through the TALF to eligible borrowers are non-recourse, meaning that the obligation of the borrower can be discharged by surrendering the collateral to the FRBNY. The loans are extended for the market value of the security less an amount known as a haircut. As a result, the borrower bears the initial risk of a decline in the value of the security.


TALF LLC is a limited liability company formed to purchase and manage any asset-backed securities received by the FRBNY in connection with the decision of a borrower not to repay a TALF loan. TALF LLC has committed, for a fee, to purchase all asset-backed securities received by the FRBNY in conjunction with a TALF loan at a price equal to the TALF loan plus accrued but unpaid interest. Losses on asset-backed securities held by TALF LLC will be offset in the following order: by the commitment fees collected by TALF LLC, by the interest received on investments of TALF LLC, by up to $20 billion in subordinated debt funding provided by the U.S. Treasury, and finally, by senior debt funding provided by the FRBNY. Payments by TALF LLC from the proceeds of its net portfolio holdings will be made in the following order: operating expenses of TALF LLC, principal due to the FRBNY, principal due to the U.S. Treasury, interest due to the FRBNY, and interest due to the U.S. Treasury. Any remaining funds will be shared by the FRBNY and the U.S. Treasury.


9. Supplemental Information on the Federal Reserve Bank of New York's Preferred Interests in
AIA Aurora LLC and ALICO Holdings LLC
Millions of dollars
Account name Wednesday
May 5, 2010
Preferred interests in AIA Aurora LLC and ALICO Holdings LLC 1 25,416
Accrued dividends on preferred interests in AIA Aurora LLC and ALICO Holdings LLC 2 122
 
Preferred interests in AIA Aurora LLC 1 16,266
Accrued dividends on preferred interests in AIA Aurora LLC 2 78
 
Preferred interests in ALICO Holdings LLC 1 9,150
Accrued dividends on preferred interests in ALICO Holdings LLC 2 44
Note: Components may not sum to totals because of rounding.


1. 
Book value.
2. 
This amount is included in other Federal Reserve assets in table 1 and in other assets in table 10 and table 11.

Note on preferred interests:


In conjunction with the restructuring of the government's assistance to American International Group, Inc. (AIG) announced March 2, 2009, the outstanding balance and amount available of revolving credit provided to AIG by the FRBNY has been reduced in exchange for preferred interests in two special purpose vehicles, AIA Aurora LLC and ALICO Holdings LLC. These two limited liability companies were created to directly or indirectly hold all of the outstanding common stock of American International Assurance Company Ltd. (AIA) and American Life Insurance Company (ALICO), two life insurance subsidiaries of AIG. AIG will retain control of AIA Aurora LLC and ALICO Holdings LLC, and the FRBNY will have certain consent, disposition, and conversion rights with respect to its preferred interests.


Dividends accrue as a percentage of the FRBNY's preferred interests in AIA Aurora LLC and ALICO Holdings LLC. On a quarterly basis, the accrued dividends are capitalized and added to the FRBNY's preferred interests in AIA Aurora LLC and ALICO Holdings LLC.


10. Consolidated Statement of Condition of All Federal Reserve Banks
Millions of dollars
Assets, liabilities, and capital Eliminations from
consolidation		 Wednesday
May 5, 2010		 Change since
Wednesday
Apr 28, 2010		 Wednesday
May 6, 2009
Assets  
    Gold certificate account   11,037 0 0
    Special drawing rights certificate account   5,200 0 + 3,000
    Coin   2,081 - 33 + 180
    Securities, repurchase agreements, term auction
        credit, and other loans		   2,120,025 - 382 + 597,520
        Securities held outright 1   2,042,276 + 239 +1,044,381
            U.S. Treasury securities   776,749 + 32 + 216,148
                Bills 2   18,423 0 0
                Notes and bonds, nominal 2   712,023 - 235 + 215,718
                Notes and bonds, inflation-indexed 2   41,125 + 234 - 128
                Inflation compensation 3   5,177 + 31 + 557
            Federal agency debt securities 2   168,112 - 791 + 96,638
            Mortgage-backed securities 4   1,097,415 + 999 + 731,595
        Repurchase agreements 5   0 0 0
        Term auction credit   0 0 - 403,573
        Other loans   77,749 - 621 - 43,288
    Net portfolio holdings of Commercial Paper
        Funding Facility LLC 6		   2 - 4,891 - 168,478
    Net portfolio holdings of Maiden Lane LLC 7   28,261 + 37 + 2,589
    Net portfolio holdings of Maiden Lane II LLC 8   16,063 + 3 - 80
    Net portfolio holdings of Maiden Lane III LLC 9   23,665 + 75 + 3,446
    Net portfolio holdings of TALF LLC 10   439 0 + 439
    Preferred interests in AIA Aurora LLC and ALICO
        Holdings LLC 11		   25,416 0 + 25,416
    Items in process of collection (57) 225 + 28 - 690
    Bank premises   2,234 - 4 + 40
    Central bank liquidity swaps 12   0 0 - 249,302
    Other assets 13   94,965 + 859 + 34,277
 
Total assets (57) 2,329,614 - 4,308 + 248,357
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
Assets, liabilities, and capital Eliminations from
consolidation		 Wednesday
May 5, 2010		 Change since
Wednesday
Apr 28, 2010		 Wednesday
May 6, 2009
Liabilities  
    Federal Reserve notes, net of F.R. Bank holdings   897,515 + 2,176 + 31,646
    Reverse repurchase agreements 14   53,483 - 619 - 11,661
    Deposits (0) 1,306,108 - 5,302 + 207,304
        Depository institutions   1,032,739 - 16,066 + 207,116
        U.S. Treasury, general account   69,940 + 13,032 - 743
        U.S. Treasury, supplementary financing account   199,958 - 1 + 29
        Foreign official   3,051 - 2,342 + 1,841
        Other (0) 421 + 75 - 938
    Deferred availability cash items (57) 2,713 + 562 - 1,445
    Other liabilities and accrued dividends 15   15,455 + 30 + 9,524
 
Total liabilities (57) 2,275,275 - 3,153 + 235,369
 
Capital accounts  
    Capital paid in   26,330 + 96 + 3,329
    Surplus   25,587 - 2 + 8,340
    Other capital accounts   2,422 - 1,248 + 1,319
 
Total capital   54,339 - 1,154 + 12,988
Note: Components may not sum to totals because of rounding.


1. 
Includes securities lent to dealers under the overnight and term securities lending facilities; refer to table 1A.
2. 
Face value of the securities.
3. 
Compensation that adjusts for the effect of inflation on the original face value of inflation-indexed securities.
4. 
Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. Current face value of the securities, which is the remaining principal balance of the underlying mortgages.
5. 
Cash value of agreements, which are collateralized by U.S. Treasury and federal agency securities.
6. 
Refer to table 7 and the note on consolidation accompanying table 11.
7. 
Refer to table 4 and the note on consolidation accompanying table 11.
8. 
Refer to table 5 and the note on consolidation accompanying table 11.
9. 
Refer to table 6 and the note on consolidation accompanying table 11.
10. 
Refer to table 8 and the note on consolidation accompanying table 11.
11. 
Refer to table 9.
12. 
Dollar value of foreign currency held under these agreements valued at the exchange rate to be used when the foreign currency is returned to the foreign central bank. This exchange rate equals the market exchange rate used when the foreign currency was acquired from the foreign central bank.
13. 
Includes other assets denominated in foreign currencies, which are revalued daily at market exchange rates, accrued dividends on the Federal Reserve Bank of New York's (FRBNY) preferred interests in AIA Aurora LLC and ALICO Holdings LLC, and the fair value adjustment to credit extended by the FRBNY to eligible borrowers through the Term Asset-Backed Securities Loan Facility.
14. 
Cash value of agreements, which are collateralized by U.S. Treasury securities and federal agency debt securities.
15. 
Includes the liabilities of Commercial Paper Funding Facility LLC, Maiden Lane LLC, Maiden Lane II LLC, Maiden Lane III LLC, and TALF LLC to entities other than the Federal Reserve Bank of New York, including liabilities that have recourse only to the portfolio holdings of these LLCs. Refer to table 4 through table 8 and the note on consolidation accompanying table 11.


11. Statement of Condition of Each Federal Reserve Bank, May 5, 2010
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 11,037 369 4,038 404 463 846 1,385 887 324 203 296 652 1,170
    Special drawing rights certificate acct. 5,200 196 1,818 210 237 412 654 424 150 90 153 282 574
    Coin 2,081 75 80 165 150 307 191 328 25 67 148 201 345
    Securities, repurchase agreements,
        term auction credit, and other
        loans		 2,120,025 51,683 911,012 47,722 69,388 232,593 193,269 153,971 52,607 27,981 70,061 85,758 223,980
        Securities held outright 1 2,042,276 51,683 833,357 47,693 69,388 232,593 193,256 153,960 52,605 27,958 70,058 85,756 223,969
            U.S. Treasury securities 776,749 19,657 316,955 18,139 26,391 88,463 73,502 58,556 20,008 10,634 26,646 32,616 85,183
                Bills 2 18,423 466 7,517 430 626 2,098 1,743 1,389 475 252 632 774 2,020
                Notes and bonds 3 758,326 19,191 309,437 17,709 25,765 86,365 71,759 57,167 19,533 10,381 26,014 31,842 83,163
            Federal agency debt securities 2 168,112 4,254 68,599 3,926 5,712 19,146 15,908 12,673 4,330 2,301 5,767 7,059 18,436
            Mortgage-backed securities 4 1,097,415 27,772 447,804 25,628 37,285 124,984 103,846 82,730 28,267 15,023 37,646 46,081 120,349
        Repurchase agreements 5 0 0 0 0 0 0 0 0 0 0 0 0 0
        Term auction credit 0 0 0 0 0 0 0 0 0 0 0 0 0
        Other loans 77,749 0 77,655 29 0 0 14 11 1 23 3 2 12
    Net portfolio holdings of Commercial
        Paper Funding Facility LLC 6		 2 0 2 0 0 0 0 0 0 0 0 0 0
    Net portfolio holdings of Maiden
        Lane LLC 7		 28,261 0 28,261 0 0 0 0 0 0 0 0 0 0
    Net portfolio holdings of Maiden
        Lane II LLC 8		 16,063 0 16,063 0 0 0 0 0 0 0 0 0 0
    Net portfolio holdings of Maiden
        Lane III LLC 9		 23,665 0 23,665 0 0 0 0 0 0 0 0 0 0
    Net portfolio holdings of TALF LLC 10 439 0 439 0 0 0 0 0 0 0 0 0 0
    Preferred interests in AIA Aurora LLC
        and ALICO Holdings LLC 11		 25,416 0 25,416 0 0 0 0 0 0 0 0 0 0
    Items in process of collection 282 17 0 25 67 10 47 11 5 30 14 29 27
    Bank premises 2,234 123 260 70 143 238 219 209 136 109 266 250 212
    Central bank liquidity swaps 12 0 0 0 0 0 0 0 0 0 0 0 0 0
    Other assets 13 94,965 2,689 36,142 4,272 4,179 14,711 8,154 5,864 2,071 1,657 2,623 3,307 9,295
    Interdistrict settlement account 0 - 5,310 + 103,999 + 19,324 - 14,094 + 42,113 - 47,608 - 40,498 - 15,331 + 22,455 - 19,720 - 14,723 - 30,606
 
Total assets 2,329,671 49,842 1,151,194 72,191 60,532 291,231 156,311 121,197 39,987 52,592 53,841 75,757 204,995
Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table.


11. Statement of Condition of Each Federal Reserve Bank, May 5, 2010 (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 1,075,612 34,818 390,171 38,695 44,223 83,993 136,047 86,670 32,114 20,074 29,232 65,587 113,987
        Less: Notes held by F.R. Banks 178,097 4,110 56,942 5,957 9,035 12,169 30,125 11,488 4,576 2,982 3,541 12,288 24,885
            Federal Reserve notes, net 897,515 30,709 333,229 32,738 35,188 71,824 105,922 75,181 27,539 17,092 25,691 53,300 89,102
    Reverse repurchase agreements 14 53,483 1,353 21,824 1,249 1,817 6,091 5,061 4,032 1,378 732 1,835 2,246 5,865
    Deposits 1,306,108 15,564 769,403 32,061 18,700 199,624 41,242 39,942 10,277 32,834 25,491 18,888 102,083
        Depository institutions 1,032,739 15,560 496,188 32,057 18,697 199,502 41,240 39,935 10,275 32,833 25,489 18,887 102,077
        U.S. Treasury, general account 69,940 0 69,940 0 0 0 0 0 0 0 0 0 0
        U.S. Treasury, supplementary
            financing account		 199,958 0 199,958 0 0 0 0 0 0 0 0 0 0
        Foreign official 3,051 1 3,022 4 3 11 2 1 0 1 0 1 3
        Other 421 3 295 0 0 111 0 6 2 0 1 0 3
    Deferred availability cash items 2,770 107 0 293 687 141 183 185 65 330 128 136 515
    Other liabilities and accrued
        dividends 15		 15,455 231 10,967 275 308 918 635 507 215 161 224 310 704
 
Total liabilities 2,275,331 47,964 1,135,424 66,617 56,700 278,597 153,043 119,847 39,474 51,149 53,368 74,879 198,269
 
Capital  
    Capital paid in 26,330 916 7,563 2,938 1,902 5,425 1,562 626 238 718 213 414 3,815
    Surplus 25,587 945 7,552 2,636 1,910 7,140 1,581 620 240 712 210 353 1,688
    Other capital 2,422 16 656 0 20 68 126 103 35 13 51 111 1,225
 
Total liabilities and capital 2,329,671 49,842 1,151,194 72,191 60,532 291,231 156,311 121,197 39,987 52,592 53,841 75,757 204,995
Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table.


11. Statement of Condition of Each Federal Reserve Bank, May 5, 2010 (continued)

1. 
Includes securities lent to dealers under the overnight and term securities lending facilities; refer to table 1A.
2. 
Face value of the securities.
3. 
Includes the original face value of inflation-indexed securities and compensation that adjusts for the effect of inflation on the original face value of such securities.
4. 
Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. Current face value of the securities, which is the remaining principal balance of the underlying mortgages.
5. 
Cash value of agreements, which are collateralized by U.S. Treasury and federal agency securities.
6. 
Refer to table 7 and the note on consolidation below.
7. 
Refer to table 4 and the note on consolidation below.
8. 
Refer to table 5 and the note on consolidation below.
9. 
Refer to table 6 and the note on consolidation below.
10. 
Refer to table 8 and the note on consolidation below.
11. 
Refer to table 9.
12. 
Dollar value of foreign currency held under these agreements valued at the exchange rate to be used when the foreign currency is returned to the foreign central bank. This exchange rate equals the market exchange rate used when the foreign currency was acquired from the foreign central bank.
13. 
Includes other assets denominated in foreign currencies, which are revalued daily at market exchange rates, accrued dividends on the Federal Reserve Bank of New York's (FRBNY) preferred interests in AIA Aurora LLC and ALICO Holdings LLC, and the fair value adjustment to credit extended by the FRBNY to eligible borrowers through the Term Asset-Backed Securities Loan Facility.
14. 
Cash value of agreements, which are collateralized by U.S. Treasury securities and federal agency debt securities.
15. 
Includes the liabilities of Commercial Paper Funding Facility LLC, Maiden Lane LLC, Maiden Lane II LLC, Maiden Lane III LLC, and TALF LLC to entities other than the Federal Reserve Bank of New York, including liabilities that have recourse only to the portfolio holdings of these LLCs. Refer to table 4 through table 8 and the note on consolidation below.


Note on consolidation:


The Federal Reserve Bank of New York (FRBNY) has extended loans to several limited liability companies under the authority of section 13(3) of the Federal Reserve Act. On June 26, 2008, a loan was extended to Maiden Lane LLC, which was formed to acquire certain assets of Bear Stearns. On October 27, 2008, the FRBNY began extending loans to Commercial Paper Funding Facility LLC, which was formed to purchase three-month U.S. dollar-denominated commercial paper from eligible issuers. On November 25, 2008, a loan was extended to Maiden Lane III LLC, which was formed to purchase multi-sector collateralized debt obligations on which the Financial Products group of the American International Group, Inc. has written credit default swap contracts. On December 12, 2008, a loan was extended to Maiden Lane II LLC, which was formed to purchase residential mortgage-backed securities from the U.S. securities lending reinvestment portfolio of subsidiaries of American International Group, Inc. On November 25, 2008, the Federal Reserve Board authorized the FRBNY to extend credit to TALF LLC, which was formed to purchase and manage any asset-backed securities received by the FRBNY in connection with the decision of a borrower not to repay a loan extended under the Term Asset-Backed Securities Loan Facility.


The FRBNY is the sole beneficiary of Commercial Paper Funding Facility LLC. The FRBNY is the primary beneficiary of TALF LLC, because of the two beneficiaries of the LLC, the FRBNY and the U.S. Treasury, the FRBNY is primarily responsible for directing the financial activities of TALF LLC. The FRBNY is the primary beneficiary of the other LLCs cited above because it will receive a majority of any residual returns of the LLCs and absorb a majority of any residual losses of the LLCs. Consistent with generally accepted accounting principles, the assets and liabilities of these LLCs have been consolidated with the assets and liabilities of the FRBNY in the preparation of the statements of condition shown on this release. As a consequence of the consolidation, the extensions of credit from the FRBNY to the LLCs are eliminated, the net assets of the LLCs appear as assets on the previous page (and in table 1 and table 10), and the liabilities of the LLCs to entities other than the FRBNY, including those with recourse only to the portfolio holdings of the LLCs, are included in other liabilities in this table (and table 1 and table 10).


12. Collateral Held against Federal Reserve Notes: Federal Reserve Agents' Accounts
Millions of dollars
Federal Reserve notes and collateral Wednesday
May 5, 2010
Federal Reserve notes outstanding 1,075,612
    Less: Notes held by F.R. Banks not subject to collateralization 178,097
        Federal Reserve notes to be collateralized 897,515
Collateral held against Federal Reserve notes 897,515
    Gold certificate account 11,037
    Special drawing rights certificate account 5,200
    U.S. Treasury, agency debt, and mortgage-backed securities pledged 1,2 881,279
    Other assets pledged 0
Memo:  
Total U.S. Treasury, agency debt, and mortgage-backed securities 1,2 2,042,276
    Less: Face value of securities under reverse repurchase agreements 52,838
        U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 1,989,438
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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Last update: May 6, 2010