Federal Reserve Statistical Release, H.4.1, Factors Affecting Reserve Balances; title with eagle logo links to Statistical Release home page
Release Date:   July 15, 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

July 15, 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
Jul 14, 2010
Week ended
Jul 14, 2010		 Change from week ended
Jul 7, 2010 Jul 15, 2009
Reserve Bank credit 2,315,940 + 1,333 + 304,143 2,323,570
    Securities held outright 1 2,060,479 + 451 + 794,772 2,067,676
        U.S. Treasury securities 777,002 + 8 + 99,840 777,005
            Bills 2 18,423 0 0 18,423
            Notes and bonds, nominal 2 712,023 0 + 101,190 712,023
            Notes and bonds, inflation-indexed 2 41,125 0 - 1,698 41,125
            Inflation compensation 3 5,431 + 8 + 348 5,434
        Federal agency debt securities 2 163,626 - 1,136 + 64,138 162,111
        Mortgage-backed securities 4 1,119,851 + 1,579 + 630,794 1,128,560
    Repurchase agreements 5 0 0 0 0
    Term auction credit 0 0 - 273,691 0
    Other loans 66,775 - 257 - 45,118 66,571
        Primary credit 86 + 45 - 34,371 150
        Secondary credit 0 - 1 0 0
        Seasonal credit 72 + 3 - 2 83
        Asset-Backed Commercial Paper Money Market
            Mutual Fund Liquidity Facility		 0 0 - 7,998 0
        Credit extended to American International
            Group, Inc., net 6		 24,512 - 58 - 18,514 24,674
        Term Asset-Backed Securities Loan Facility 7 42,105 - 247 + 15,767 41,665
        Other credit extensions 0 0 0 0
    Net portfolio holdings of Commercial Paper
        Funding Facility LLC 8		 1 0 - 112,359 1
    Net portfolio holdings of Maiden Lane LLC 9 28,531 + 29 + 2,573 28,562
    Net portfolio holdings of Maiden Lane II LLC 10 15,545 - 187 - 199 15,549
    Net portfolio holdings of Maiden Lane III LLC 11 22,931 - 237 + 4,147 22,967
    Net portfolio holdings of TALF LLC 12 506 0 + 506 506
    Preferred interests in AIA Aurora LLC and ALICO
        Holdings LLC 13		 25,733 0 + 25,733 25,733
    Float -1,833 + 141 + 281 -2,001
    Central bank liquidity swaps 14 1,245 0 - 110,533 1,245
    Other Federal Reserve assets 15 96,027 + 1,393 + 18,032 96,761
Gold stock 11,041 0 0 11,041
Special drawing rights certificate account 5,200 0 + 3,000 5,200
Treasury currency outstanding 16 43,196 + 14 + 727 43,196
 
Total factors supplying reserve funds 2,375,377 + 1,347 + 307,869 2,383,007
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
Jul 14, 2010
Week ended
Jul 14, 2010		 Change from week ended
Jul 7, 2010 Jul 15, 2009
Currency in circulation 16 945,837 - 1,962 + 35,360 945,506
Reverse repurchase agreements 17 62,836 - 2,410 - 5,924 62,265
    Foreign official and international accounts 62,836 - 2,410 - 5,924 62,265
    Dealers 0 0 0 0
Treasury cash holdings 246 + 11 - 102 246
Deposits with F.R. Banks, other than reserve balances 235,324 - 6,278 - 14,603 232,478
    Term deposits held by depository institutions 2,122 0 + 2,122 2,122
    U.S. Treasury, general account 18,262 - 7,722 - 8,169 7,866
    U.S. Treasury, supplementary financing account 199,962 - 1 + 23 199,962
    Foreign official 1,487 - 131 - 1,474 1,254
    Service-related 2,472 0 - 1,716 2,472
        Required clearing balances 2,472 0 - 1,716 2,472
        Adjustments to compensate for float 0 0 0 0
    Other 11,020 + 1,578 - 5,389 18,802
Other liabilities and capital 18 72,607 + 489 + 16,401 73,715
 
Total factors, other than reserve balances,
    absorbing reserve funds		 1,316,850 - 10,150 + 31,132 1,314,210
 
Reserve balances with Federal Reserve Banks 1,058,528 + 11,497 + 276,738 1,068,798
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
Jul 14, 2010
Week ended
Jul 14, 2010		 Change from week ended
Jul 7, 2010 Jul 15, 2009
Marketable securities held in custody for foreign
    official and international accounts 1		 3,113,710 + 13,214 + 331,587 3,117,227
    U.S. Treasury securities 2,289,735 + 11,779 + 307,947 2,285,362
    Federal agency securities 2 823,975 + 1,435 + 23,639 831,865
Securities lent to dealers 6,781 - 260 - 7,732 5,790
    Overnight facility 3 6,781 - 260 - 3,482 5,790
        U.S. Treasury securities 5,084 - 41 - 5,025 4,312
        Federal agency debt securities 1,696 - 220 + 1,542 1,478
    Term facility 4 0 0 - 4,250 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, July 14, 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 1 163 70 0 66,339 0 ... 66,571
U.S. Treasury securities 2  
    Holdings 14,664 18,280 52,950 332,287 214,982 143,841 777,005
    Weekly changes + 2,156 - 2,157 0 + 234 - 231 + 4 + 8
Federal agency debt securities 3  
    Holdings 2,730 7,199 37,112 79,175 33,548 2,347 162,111
    Weekly changes - 2,651 + 1,923 - 1,923 0 0 0 - 2,651
Mortgage-backed securities 4  
    Holdings 0 0 0 31 20 1,128,509 1,128,560
    Weekly changes 0 0 0 0 0 + 10,270 + 10,270
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 0 1,245 0 0 0 0 1,245
   
Reverse repurchase agreements 7 62,265 0 ... ... ... ... 62,265
Term deposits 2,122 0 0 ... ... ... 2,122
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
Jul 14, 2010
Mortgage-backed securities held outright 1 1,128,560
 
Commitments to buy mortgage-backed securities 2 5,177
Commitments to sell mortgage-backed securities 2 0
 
Cash and cash equivalents 3 61
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
Jul 14, 2010
Net portfolio holdings of Maiden Lane LLC 1 28,562
 
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 2 520
Outstanding principal amount and accrued interest on loan payable to JPMorgan Chase & Co. 3 1,283
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
Jul 14, 2010
Net portfolio holdings of Maiden Lane II LLC 1 15,549
 
Outstanding principal amount of loan extended by the Federal Reserve Bank of New York 2 14,089
Accrued interest payable to the Federal Reserve Bank of New York 2 368
Deferred payment and accrued interest payable to subsidiaries of American International Group, Inc. 3 1,055
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
Jul 14, 2010
Net portfolio holdings of Maiden Lane III LLC 1 22,967
 
Outstanding principal amount of loan extended by the Federal Reserve Bank of New York 2 15,469
Accrued interest payable to the Federal Reserve Bank of New York 2 456
Outstanding principal amount and accrued interest on loan payable to American International Group, Inc. 3 5,284
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
Jul 14, 2010
Commercial paper holdings, net 1 0
Other investments, net 1
Net portfolio holdings of Commercial Paper Funding Facility LLC 1
 
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
Jul 14, 2010
Asset-backed securities holdings 1 0
Other investments, net 506
Net portfolio holdings of TALF LLC 506
 
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
Jul 14, 2010
Preferred interests in AIA Aurora LLC and ALICO Holdings LLC 1 25,733
Accrued dividends on preferred interests in AIA Aurora LLC and ALICO Holdings LLC 2 49
 
Preferred interests in AIA Aurora LLC 1 16,469
Accrued dividends on preferred interests in AIA Aurora LLC 2 32
 
Preferred interests in ALICO Holdings LLC 1 9,264
Accrued dividends on preferred interests in ALICO Holdings LLC 2 18
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
Jul 14, 2010		 Change since
Wednesday
Jul 7, 2010		 Wednesday
Jul 15, 2009
Assets  
    Gold certificate account   11,037 0 0
    Special drawing rights certificate account   5,200 0 + 3,000
    Coin   1,988 + 30 + 196
    Securities, repurchase agreements, term auction
        credit, and other loans		   2,134,247 + 7,272 + 435,120
        Securities held outright 1   2,067,676 + 7,627 + 755,526
            U.S. Treasury securities   777,005 + 8 + 92,975
                Bills 2   18,423 0 0
                Notes and bonds, nominal 2   712,023 0 + 94,448
                Notes and bonds, inflation-indexed 2   41,125 0 - 1,814
                Inflation compensation 3   5,434 + 8 + 339
            Federal agency debt securities 2   162,111 - 2,651 + 60,410
            Mortgage-backed securities 4   1,128,560 + 10,270 + 602,142
        Repurchase agreements 5   0 0 0
        Term auction credit   0 0 - 273,691
        Other loans   66,571 - 354 - 46,715
    Net portfolio holdings of Commercial Paper
        Funding Facility LLC 6		   1 0 - 111,052
    Net portfolio holdings of Maiden Lane LLC 7   28,562 + 36 + 2,584
    Net portfolio holdings of Maiden Lane II LLC 8   15,549 + 4 - 205
    Net portfolio holdings of Maiden Lane III LLC 9   22,967 + 42 + 4,153
    Net portfolio holdings of TALF LLC 10   506 0 + 506
    Preferred interests in AIA Aurora LLC and ALICO
        Holdings LLC 11		   25,733 0 + 25,733
    Items in process of collection (51) 356 - 310 - 100
    Bank premises   2,231 + 1 + 30
    Central bank liquidity swaps 12   1,245 0 - 110,396
    Other assets 13   94,523 + 1,612 + 19,754
 
Total assets (51) 2,344,145 + 8,688 + 269,323
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
Jul 14, 2010		 Change since
Wednesday
Jul 7, 2010		 Wednesday
Jul 15, 2009
Liabilities  
    Federal Reserve notes, net of F.R. Bank holdings   904,540 - 3,158 + 34,213
    Reverse repurchase agreements 14   62,265 - 639 - 4,077
    Deposits (0) 1,301,268 + 11,351 + 222,078
        Term deposits held by depository institutions   2,122 0 + 2,122
        Other deposits held by depository institutions   1,071,263 + 12,146 + 262,439
        U.S. Treasury, general account   7,866 - 8,609 - 57,368
        U.S. Treasury, supplementary financing account   199,962 - 1 + 23
        Foreign official   1,254 - 392 - 711
        Other (0) 18,802 + 8,209 + 15,573
    Deferred availability cash items (51) 2,356 - 1,070 - 530
    Other liabilities and accrued dividends 15   17,033 + 2,455 + 10,429
 
Total liabilities (51) 2,287,463 + 8,940 + 262,115
 
Capital accounts  
    Capital paid in   26,661 + 1 + 2,149
    Surplus   25,810 + 6 + 4,529
    Other capital accounts   4,211 - 259 + 530
 
Total capital   56,682 - 252 + 7,208
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, July 14, 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 1,988 65 69 157 144 291 185 311 24 59 145 201 338
    Securities, repurchase agreements,
        term auction credit, and other
        loans		 2,134,247 52,326 910,060 48,288 70,251 235,492 195,668 155,886 53,418 28,338 70,931 86,835 226,754
        Securities held outright 1 2,067,676 52,326 843,721 48,286 70,251 235,486 195,659 155,875 53,260 28,306 70,930 86,823 226,754
            U.S. Treasury securities 777,005 19,663 317,059 18,145 26,399 88,492 73,526 58,576 20,014 10,637 26,654 32,627 85,211
                Bills 2 18,423 466 7,517 430 626 2,098 1,743 1,389 475 252 632 774 2,020
                Notes and bonds 3 758,582 19,197 309,542 17,715 25,773 86,394 71,783 57,187 19,540 10,385 26,022 31,853 83,191
            Federal agency debt securities 2 162,111 4,102 66,150 3,786 5,508 18,463 15,340 12,221 4,176 2,219 5,561 6,807 17,778
            Mortgage-backed securities 4 1,128,560 28,560 460,512 26,355 38,344 128,531 106,793 85,078 29,070 15,450 38,714 47,389 123,765
        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 66,571 0 66,339 2 0 6 9 12 158 31 1 12 0
    Net portfolio holdings of Commercial
        Paper Funding Facility LLC 6		 1 0 1 0 0 0 0 0 0 0 0 0 0
    Net portfolio holdings of Maiden
        Lane LLC 7		 28,562 0 28,562 0 0 0 0 0 0 0 0 0 0
    Net portfolio holdings of Maiden
        Lane II LLC 8		 15,549 0 15,549 0 0 0 0 0 0 0 0 0 0
    Net portfolio holdings of Maiden
        Lane III LLC 9		 22,967 0 22,967 0 0 0 0 0 0 0 0 0 0
    Net portfolio holdings of TALF LLC 10 506 0 506 0 0 0 0 0 0 0 0 0 0
    Preferred interests in AIA Aurora LLC
        and ALICO Holdings LLC 11		 25,733 0 25,733 0 0 0 0 0 0 0 0 0 0
    Items in process of collection 407 18 192 50 73 9 66 69 8 15 10 -161 58
    Bank premises 2,231 123 258 70 143 238 219 210 135 109 266 248 212
    Central bank liquidity swaps 12 1,245 46 361 136 93 347 77 30 12 35 10 17 82
    Other assets 13 94,523 2,684 35,813 4,336 4,184 14,771 8,114 5,815 2,045 1,657 2,595 3,278 9,231
    Interdistrict settlement account 0 - 10,049 + 110,573 + 16,542 - 15,541 + 29,332 - 46,576 - 43,789 - 16,172 + 11,827 - 23,175 - 5,574 - 7,399
 
Total assets 2,344,195 45,778 1,156,500 70,192 60,046 281,738 159,793 119,843 39,945 42,332 51,231 85,779 231,020
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, July 14, 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 1,110,724 35,800 397,667 41,149 44,677 86,929 140,817 86,298 31,904 19,718 30,173 72,727 122,865
        Less: Notes held by F.R. Banks 206,184 3,970 81,657 5,325 9,689 13,859 28,830 12,216 4,453 4,282 3,267 12,382 26,255
            Federal Reserve notes, net 904,540 31,830 316,011 35,824 34,988 73,070 111,987 74,082 27,451 15,436 26,906 60,345 96,610
    Reverse repurchase agreements 14 62,265 1,576 25,407 1,454 2,115 7,091 5,892 4,694 1,604 852 2,136 2,615 6,828
    Deposits 1,301,268 10,140 787,296 26,782 18,216 187,724 37,711 38,822 10,069 23,758 21,334 21,489 117,927
        Term deposits held by depository
            institutions		 2,122 24 931 0 13 52 28 19 56 6 6 14 973
        Other deposits held by depository
            institutions		 1,071,263 10,108 558,585 26,777 18,199 187,626 37,681 38,773 10,012 23,751 21,327 21,474 116,950
        U.S. Treasury, general account 7,866 0 7,866 0 0 0 0 0 0 0 0 0 0
        U.S. Treasury, supplementary
            financing account		 199,962 0 199,962 0 0 0 0 0 0 0 0 0 0
        Foreign official 1,254 1 1,226 4 3 11 2 1 0 1 0 1 3
        Other 18,802 6 18,727 0 1 34 0 29 1 0 1 0 2
    Deferred availability cash items 2,407 75 0 222 506 102 160 214 65 488 94 94 387
    Other liabilities and accrued
        dividends 15		 17,033 255 11,823 264 335 1,015 771 635 259 173 286 382 835
 
Total liabilities 2,287,513 43,876 1,140,537 64,546 56,160 269,002 156,521 118,447 39,449 40,706 50,757 84,925 222,588
 
Capital  
    Capital paid in 26,661 916 7,627 2,807 1,918 5,440 1,545 642 217 804 211 396 4,138
    Surplus 25,810 945 7,607 2,803 1,911 7,141 1,581 620 239 712 210 353 1,688
    Other capital 4,211 41 729 36 57 156 145 134 39 110 54 105 2,606
 
Total liabilities and capital 2,344,195 45,778 1,156,500 70,192 60,046 281,738 159,793 119,843 39,945 42,332 51,231 85,779 231,020
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, July 14, 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
Jul 14, 2010
Federal Reserve notes outstanding 1,110,724
    Less: Notes held by F.R. Banks not subject to collateralization 206,184
        Federal Reserve notes to be collateralized 904,540
Collateral held against Federal Reserve notes 904,540
    Gold certificate account 11,037
    Special drawing rights certificate account 5,200
    U.S. Treasury, agency debt, and mortgage-backed securities pledged 1,2 888,303
    Other assets pledged 0
Memo:  
Total U.S. Treasury, agency debt, and mortgage-backed securities 1,2 2,067,676
    Less: Face value of securities under reverse repurchase agreements 60,877
        U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 2,006,799
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: July 15, 2010