Federal Reserve Statistical Release, H.4.1, Factors Affecting Reserve Balances; title with eagle logo links to Statistical Release home page
Release Date:   May 20, 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 20, 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 19, 2010
Week ended
May 19, 2010		 Change from week ended
May 12, 2010 May 20, 2009
Reserve Bank credit 2,339,071 + 28,883 + 173,956 2,333,366
    Securities held outright 1 2,065,529 + 23,062 + 979,929 2,063,896
        U.S. Treasury securities 776,819 + 43 + 196,253 776,834
            Bills 2 18,423 0 0 18,423
            Notes and bonds, nominal 2 712,023 0 + 195,795 712,023
            Notes and bonds, inflation-indexed 2 41,125 0 - 128 41,125
            Inflation compensation 3 5,247 + 43 + 586 5,263
        Federal agency debt securities 2 167,747 - 365 + 93,198 167,577
        Mortgage-backed securities 4 1,120,963 + 23,384 + 690,478 1,119,485
    Repurchase agreements 5 0 0 0 0
    Term auction credit 0 0 - 428,835 0
    Other loans 76,232 - 954 - 51,699 75,861
        Primary credit 5,114 - 36 - 33,041 4,627
        Secondary credit 400 - 86 + 380 400
        Seasonal credit 44 + 1 + 33 47
        Asset-Backed Commercial Paper Money Market
            Mutual Fund Liquidity Facility		 0 0 - 28,121 0
        Credit extended to American International
            Group, Inc., net 6		 26,176 - 632 - 19,532 26,296
        Term Asset-Backed Securities Loan Facility 7 44,497 - 202 + 28,582 44,491
        Other credit extensions 0 0 0 0
    Net portfolio holdings of Commercial Paper
        Funding Facility LLC 8		 2 0 - 160,779 2
    Net portfolio holdings of Maiden Lane LLC 9 28,269 + 8 + 2,577 28,308
    Net portfolio holdings of Maiden Lane II LLC 10 15,842 + 3 - 310 15,847
    Net portfolio holdings of Maiden Lane III LLC 11 23,363 + 64 + 3,050 23,372
    Net portfolio holdings of TALF LLC 12 439 0 + 439 439
    Preferred interests in AIA Aurora LLC and ALICO
        Holdings LLC 13		 25,416 0 + 25,416 25,416
    Float -1,894 - 11 + 99 -2,129
    Central bank liquidity swaps 14 9,205 + 7,890 - 227,254 9,205
    Other Federal Reserve assets 15 96,669 - 1,179 + 31,323 93,148
Gold stock 11,041 0 0 11,041
Special drawing rights certificate account 5,200 0 + 3,000 5,200
Treasury currency outstanding 16 42,843 + 14 + 517 42,843
 
Total factors supplying reserve funds 2,398,155 + 28,897 + 177,473 2,392,450
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 19, 2010
Week ended
May 19, 2010		 Change from week ended
May 12, 2010 May 20, 2009
Currency in circulation 16 937,574 - 61 + 32,805 938,179
Reverse repurchase agreements 17 56,326 + 2,085 - 13,442 55,764
    Foreign official and international accounts 56,326 + 2,085 - 13,442 55,764
    Dealers 0 0 0 0
Treasury cash holdings 187 + 2 - 105 194
Deposits with F.R. Banks, other than reserve balances 238,515 - 3,144 - 22,710 234,635
    U.S. Treasury, general account 21,159 - 13,146 - 28,679 30,213
    U.S. Treasury, supplementary financing account 199,959 + 1 + 29 199,959
    Foreign official 1,604 + 124 - 1,111 1,478
    Service-related 2,663 - 2 - 1,679 2,663
        Required clearing balances 2,663 - 2 - 1,679 2,663
        Adjustments to compensate for float 0 0 0 0
    Other 13,130 + 9,879 + 8,730 322
Other liabilities and capital 18 73,355 + 2,660 + 22,985 70,963
 
Total factors, other than reserve balances,
    absorbing reserve funds		 1,305,956 + 1,541 + 19,533 1,299,734
 
Reserve balances with Federal Reserve Banks 1,092,199 + 27,356 + 157,940 1,092,716
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 outstanding principal and capitalized interest net of unamortized deferred commitment fees and allowance for loan restructuring. Excludes credit extended to consolidated LLCs.
7. 
Includes credit extended by the Federal Reserve Bank of New York to eligible borrowers through the Term Asset-Backed Securities Loan Facility.
8. 
Refer to table 7 and the note on consolidation accompanying table 11.
9. 
Refer to table 4 and the note on consolidation accompanying table 11.
10. 
Refer to table 5 and the note on consolidation accompanying table 11.
11. 
Refer to table 6 and the note on consolidation accompanying table 11.
12. 
Refer to table 8 and the note on consolidation accompanying table 11.
13. 
Refer to table 9.
14. 
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.
15. 
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.
16. 
Estimated.
17. 
Cash value of agreements, which are collateralized by U.S. Treasury securities and federal agency debt securities.
18. 
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 19, 2010
Week ended
May 19, 2010		 Change from week ended
May 12, 2010 May 20, 2009
Marketable securities held in custody for foreign
    official and international accounts 1		 3,056,634 - 7,138 + 347,063 3,059,194
    U.S. Treasury securities 2,261,485 - 11,588 + 367,393 2,262,707
    Federal agency securities 2 795,149 + 4,450 - 20,330 796,486
Securities lent to dealers 4,084 + 852 - 32,634 4,762
    Overnight facility 3 4,084 + 852 - 84 4,762
        U.S. Treasury securities 2,836 + 785 - 1,332 3,508
        Federal agency debt securities 1,249 + 69 + 1,249 1,254
    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 Securities, Loans, and Selected Other Assets and Liabilities, May 19, 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
Other loans 1 5,073 1 0 70,787 0 ... 75,861
U.S. Treasury securities 2  
    Holdings 17,097 15,271 46,915 340,378 213,483 143,691 776,834
    Weekly changes - 2,186 - 181 - 4,427 + 12,836 - 4,760 - 1,240 + 42
Federal agency debt securities 3  
    Holdings 862 9,504 37,335 83,981 33,548 2,347 167,577
    Weekly changes + 127 + 1,508 + 3,072 - 5,242 0 0 - 535
Mortgage-backed securities 4  
    Holdings 0 0 0 32 20 1,119,433 1,119,485
    Weekly changes 0 0 0 - 1 0 + 21,131 + 21,130
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
Central bank liquidity swaps 8 9,205 0 0 0 0 0 9,205
   
Reverse repurchase agreements 7 55,764 0 ... ... ... ... 55,764
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
Account name Wednesday
May 19, 2010
Mortgage-backed securities held outright 1 1,119,485
 
Commitments to buy mortgage-backed securities 2 38,230
Commitments to sell mortgage-backed securities 2 0
 
Cash and cash equivalents 3 624
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 19, 2010
Net portfolio holdings of Maiden Lane LLC 1 28,308
 
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 2 487
Outstanding principal amount and accrued interest on loan payable to JPMorgan Chase & Co. 3 1,273
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 19, 2010
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 14,532
Accrued interest payable to the Federal Reserve Bank of New York 2 338
Deferred payment and accrued interest payable to subsidiaries of American International Group, Inc. 3 1,049
1. 
Fair value. Fair value reflects an estimate of the price that would be received upon selling an asset if the transaction were to be conducted in an orderly market on the measurement date. Revalued quarterly. This table reflects valuations as of 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 19, 2010
Net portfolio holdings of Maiden Lane III LLC 1 23,372
 
Outstanding principal amount of loan extended by the Federal Reserve Bank of New York 2 16,206
Accrued interest payable to the Federal Reserve Bank of New York 2 423
Outstanding principal amount and accrued interest on loan payable to American International Group, Inc. 3 5,257
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 19, 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 19, 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 19, 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 2 171
 
Preferred interests in AIA Aurora LLC 1 16,266
Accrued dividends on preferred interests in AIA Aurora LLC 2 109
 
Preferred interests in ALICO Holdings LLC 1 9,150
Accrued dividends on preferred interests in ALICO Holdings LLC 2 61
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 19, 2010		 Change since
Wednesday
May 12, 2010		 Wednesday
May 20, 2009
Assets  
    Gold certificate account   11,037 0 0
    Special drawing rights certificate account   5,200 0 + 3,000
    Coin   2,042 - 23 + 224
    Securities, repurchase agreements, term auction
        credit, and other loans		   2,139,758 + 19,864 + 493,148
        Securities held outright 1   2,063,896 + 20,638 + 972,470
            U.S. Treasury securities   776,834 + 42 + 193,563
                Bills 2   18,423 0 0
                Notes and bonds, nominal 2   712,023 0 + 193,098
                Notes and bonds, inflation-indexed 2   41,125 0 - 128
                Inflation compensation 3   5,263 + 43 + 592
            Federal agency debt securities 2   167,577 - 535 + 90,903
            Mortgage-backed securities 4   1,119,485 + 21,130 + 688,005
        Repurchase agreements 5   0 0 0
        Term auction credit   0 0 - 428,835
        Other loans   75,861 - 775 - 50,488
    Net portfolio holdings of Commercial Paper
        Funding Facility LLC 6		   2 0 - 157,081
    Net portfolio holdings of Maiden Lane LLC 7   28,308 + 46 + 2,625
    Net portfolio holdings of Maiden Lane II LLC 8   15,847 + 6 - 316
    Net portfolio holdings of Maiden Lane III LLC 9   23,372 + 11 + 3,007
    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 (44) 229 + 69 - 178
    Bank premises   2,238 + 1 + 42
    Central bank liquidity swaps 12   9,205 0 - 225,907
    Other assets 13   91,271 - 5,157 + 26,784
 
Total assets (44) 2,354,364 + 14,817 + 171,203
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 19, 2010		 Change since
Wednesday
May 12, 2010		 Wednesday
May 20, 2009
Liabilities  
    Federal Reserve notes, net of F.R. Bank holdings   897,568 - 1,113 + 31,103
    Reverse repurchase agreements 14   55,764 - 883 - 11,994
    Deposits (0) 1,327,711 + 16,869 + 131,749
        Depository institutions   1,095,739 + 2,894 + 140,519
        U.S. Treasury, general account   30,213 + 13,920 - 7,716
        U.S. Treasury, supplementary financing account   199,959 + 1 + 29
        Foreign official   1,478 + 65 - 1,123
        Other (0) 322 - 11 + 40
    Deferred availability cash items (44) 2,359 - 13 - 445
    Other liabilities and accrued dividends 15   15,941 - 269 + 9,573
 
Total liabilities (44) 2,299,342 + 14,589 + 159,985
 
Capital accounts  
    Capital paid in   26,423 + 37 + 2,596
    Surplus   25,636 + 22 + 7,092
    Other capital accounts   2,964 + 170 + 1,531
 
Total capital   55,022 + 228 + 11,218
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 19, 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 2,042 71 79 167 147 298 187 322 27 65 144 199 337
    Securities, repurchase agreements,
        term auction credit, and other
        loans		 2,139,758 52,232 917,917 48,221 70,122 235,056 195,329 155,610 53,167 28,276 70,803 86,666 226,358
        Securities held outright 1 2,063,896 52,230 842,179 48,198 70,122 235,056 195,302 155,590 53,162 28,254 70,800 86,664 226,340
            U.S. Treasury securities 776,834 19,659 316,990 18,141 26,393 88,473 73,510 58,563 20,010 10,635 26,649 32,620 85,192
                Bills 2 18,423 466 7,517 430 626 2,098 1,743 1,389 475 252 632 774 2,020
                Notes and bonds 3 758,412 19,193 309,472 17,711 25,768 86,375 71,767 57,174 19,535 10,382 26,017 31,846 83,172
            Federal agency debt securities 2 167,577 4,241 68,380 3,913 5,694 19,085 15,857 12,633 4,316 2,294 5,749 7,037 18,378
            Mortgage-backed securities 4 1,119,485 28,330 456,809 26,143 38,035 127,497 105,934 84,394 28,836 15,326 38,403 47,008 122,770
        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 75,861 2 75,738 23 0 0 27 20 4 22 3 2 18
    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		 28,308 0 28,308 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		 23,372 0 23,372 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 273 11 0 21 57 5 62 20 4 26 9 39 20
    Bank premises 2,238 123 260 70 143 238 220 211 136 109 266 250 212
    Central bank liquidity swaps 12 9,205 339 2,672 1,006 686 2,563 568 222 86 256 75 127 606
    Other assets 13 91,271 2,593 34,739 4,166 4,041 14,245 7,780 5,584 1,978 1,602 2,498 3,155 8,890
    Interdistrict settlement account 0 - 10,285 + 108,814 + 20,290 - 18,366 + 56,882 - 52,816 - 41,407 - 16,579 + 20,816 - 22,214 - 15,424 - 29,711
 
Total assets 2,354,408 45,649 1,163,721 74,554 57,530 310,544 153,368 121,873 39,292 51,444 52,031 75,946 208,456
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 19, 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 1,077,863 34,846 392,177 38,745 44,475 84,307 135,621 86,788 32,129 20,050 29,476 65,449 113,800
        Less: Notes held by F.R. Banks 180,296 4,253 57,681 5,749 9,391 12,626 29,699 11,956 4,655 3,044 3,395 12,334 25,513
            Federal Reserve notes, net 897,568 30,593 334,495 32,996 35,083 71,681 105,922 74,832 27,475 17,006 26,081 53,115 88,288
    Reverse repurchase agreements 14 55,764 1,411 22,755 1,302 1,895 6,351 5,277 4,204 1,436 763 1,913 2,342 6,115
    Deposits 1,327,711 11,443 779,462 34,138 15,795 218,746 38,070 40,769 9,586 31,570 23,207 19,153 105,769
        Depository institutions 1,095,739 11,441 547,652 34,134 15,791 218,639 38,068 40,740 9,584 31,569 23,206 19,152 105,763
        U.S. Treasury, general account 30,213 0 30,213 0 0 0 0 0 0 0 0 0 0
        U.S. Treasury, supplementary
            financing account		 199,959 0 199,959 0 0 0 0 0 0 0 0 0 0
        Foreign official 1,478 1 1,450 4 3 11 2 1 0 1 0 1 3
        Other 322 1 189 0 2 96 0 28 2 0 1 0 3
    Deferred availability cash items 2,403 65 0 206 573 81 156 166 53 384 116 117 486
    Other liabilities and accrued
        dividends 15		 15,941 242 11,202 291 323 968 667 536 224 170 240 327 751
 
Total liabilities 2,299,386 43,756 1,147,915 68,933 53,669 297,827 150,092 120,507 38,774 49,893 51,558 75,054 201,409
 
Capital  
    Capital paid in 26,423 916 7,543 2,947 1,906 5,452 1,548 624 239 803 211 414 3,819
    Surplus 25,636 945 7,563 2,674 1,910 7,140 1,581 620 240 712 210 353 1,688
    Other capital 2,964 32 700 0 43 126 147 122 40 36 53 126 1,540
 
Total liabilities and capital 2,354,408 45,649 1,163,721 74,554 57,530 310,544 153,368 121,873 39,292 51,444 52,031 75,946 208,456
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 19, 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 19, 2010
Federal Reserve notes outstanding 1,077,863
    Less: Notes held by F.R. Banks not subject to collateralization 180,296
        Federal Reserve notes to be collateralized 897,568
Collateral held against Federal Reserve notes 897,568
    Gold certificate account 11,037
    Special drawing rights certificate account 5,200
    U.S. Treasury, agency debt, and mortgage-backed securities pledged 1,2 881,331
    Other assets pledged 0
Memo:  
Total U.S. Treasury, agency debt, and mortgage-backed securities 1,2 2,063,896
    Less: Face value of securities under reverse repurchase agreements 54,964
        U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 2,008,932
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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