Federal Reserve Statistical Release, H.4.1, Factors Affecting Reserve Balances; title with eagle logo links to Statistical Release home page
Release Date:   July 22, 2010
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For release at
4:30 P.M. EDT
July 22, 2010

Consistent with the terms of the Maiden Lane LLC (LLC) transaction, on July 15, 2010, the
LLC began making distributions to repay its loan extended by the Federal Reserve Bank of
New York (FRBNY). These distributions will occur on a monthly basis unless otherwise
directed by the Federal Reserve and will follow the order of payments explained in the note
to Table 4. These distributions will also result in a corresponding reduction of the net
portfolio holdings of the LLC.

FEDERAL RESERVE statistical release

H.4.1

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

July 22, 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 21, 2010
Week ended
Jul 21, 2010		 Change from week ended
Jul 14, 2010 Jul 22, 2009
Reserve Bank credit 2,315,726 - 215 + 305,035 2,315,304
    Securities held outright 1 2,061,234 + 755 + 735,283 2,060,984
        U.S. Treasury securities 777,010 + 8 + 90,534 777,013
            Bills 2 18,423 0 0 18,423
            Notes and bonds, nominal 2 712,020 - 3 + 93,445 712,020
            Notes and bonds, inflation-indexed 2 41,129 + 4 - 3,094 41,129
            Inflation compensation 3 5,439 + 8 + 184 5,442
        Federal agency debt securities 2 159,771 - 3,855 + 57,650 159,381
        Mortgage-backed securities 4 1,124,453 + 4,602 + 587,099 1,124,590
    Repurchase agreements 5 0 0 0 0
    Term auction credit 0 0 - 237,634 0
    Other loans 65,905 - 870 - 44,735 65,551
        Primary credit 25 - 61 - 33,723 49
        Secondary credit 1 + 1 - 30 5
        Seasonal credit 79 + 7 - 10 80
        Asset-Backed Commercial Paper Money Market
            Mutual Fund Liquidity Facility		 0 0 - 3,560 0
        Credit extended to American International
            Group, Inc., net 6		 24,154 - 358 - 18,978 23,888
        Term Asset-Backed Securities Loan Facility 7 41,646 - 459 + 11,566 41,529
        Other credit extensions 0 0 0 0
    Net portfolio holdings of Commercial Paper
        Funding Facility LLC 8		 1 0 - 110,500 1
    Net portfolio holdings of Maiden Lane LLC 9 28,538 + 7 + 2,549 28,570
    Net portfolio holdings of Maiden Lane II LLC 10 15,550 + 5 - 205 15,556
    Net portfolio holdings of Maiden Lane III LLC 11 22,969 + 38 + 4,152 22,980
    Net portfolio holdings of TALF LLC 12 511 + 5 + 511 540
    Preferred interests in AIA Aurora LLC and ALICO
        Holdings LLC 13		 25,733 0 + 25,733 25,733
    Float -1,671 + 162 + 387 -1,777
    Central bank liquidity swaps 14 1,246 + 1 - 88,618 1,246
    Other Federal Reserve assets 15 95,711 - 317 + 18,114 95,920
Gold stock 11,041 0 0 11,041
Special drawing rights certificate account 5,200 0 + 3,000 5,200
Treasury currency outstanding 16 43,210 + 14 + 737 43,210
 
Total factors supplying reserve funds 2,375,177 - 201 + 308,772 2,374,755
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 21, 2010
Week ended
Jul 21, 2010		 Change from week ended
Jul 14, 2010 Jul 22, 2009
Currency in circulation 16 942,989 - 2,848 + 34,245 943,213
Reverse repurchase agreements 17 63,368 + 532 - 4,437 61,467
    Foreign official and international accounts 63,368 + 532 - 4,437 61,467
    Dealers 0 0 0 0
Treasury cash holdings 243 - 3 - 104 228
Deposits with F.R. Banks, other than reserve balances 259,625 + 24,301 - 21,008 252,492
    Term deposits held by depository institutions 4,241 + 2,119 + 4,241 4,241
    U.S. Treasury, general account 51,307 + 33,045 - 21,881 43,865
    U.S. Treasury, supplementary financing account 199,962 0 + 26 199,962
    Foreign official 1,257 - 230 - 479 1,448
    Service-related 2,469 - 3 - 2,692 2,469
        Required clearing balances 2,469 - 3 - 2,680 2,469
        Adjustments to compensate for float 0 0 - 12 0
    Other 389 - 10,631 - 223 508
Other liabilities and capital 18 72,719 + 112 + 16,108 71,570
 
Total factors, other than reserve balances,
    absorbing reserve funds		 1,338,944 + 22,094 + 24,804 1,328,969
 
Reserve balances with Federal Reserve Banks 1,036,233 - 22,296 + 283,968 1,045,786
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 21, 2010
Week ended
Jul 21, 2010		 Change from week ended
Jul 14, 2010 Jul 22, 2009
Marketable securities held in custody for foreign
    official and international accounts 1		 3,131,777 + 18,067 + 344,846 3,139,293
    U.S. Treasury securities 2,303,507 + 13,772 + 307,712 2,308,147
    Federal agency securities 2 828,271 + 4,296 + 37,134 831,146
Securities lent to dealers 4,456 - 2,325 - 7,006 3,405
    Overnight facility 3 4,456 - 2,325 - 4,084 3,405
        U.S. Treasury securities 3,300 - 1,784 - 5,055 2,348
        Federal agency debt securities 1,156 - 540 + 971 1,057
    Term facility 4 0 0 - 2,921 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 21, 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 1 123 11 0 65,418 0 ... 65,551
U.S. Treasury securities 2  
    Holdings 15,553 17,949 52,371 332,299 214,994 143,848 777,013
    Weekly changes + 889 - 331 - 579 + 12 + 12 + 7 + 8
Federal agency debt securities 3  
    Holdings 0 7,451 37,894 78,943 32,746 2,347 159,381
    Weekly changes - 2,730 + 252 + 782 - 232 - 802 0 - 2,730
Mortgage-backed securities 4  
    Holdings 0 0 0 31 20 1,124,539 1,124,590
    Weekly changes 0 0 0 0 0 - 3,970 - 3,970
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 1,246 0 0 0 0 1,246
   
Reverse repurchase agreements 7 61,467 0 ... ... ... ... 61,467
Term deposits 2,122 2,119 0 ... ... ... 4,241
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 21, 2010
Mortgage-backed securities held outright 1 1,124,590
 
Commitments to buy mortgage-backed securities 2 3,885
Commitments to sell mortgage-backed securities 2 0
 
Cash and cash equivalents 3 261
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, dollar rolls, and coupon swaps.
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 21, 2010
Net portfolio holdings of Maiden Lane LLC 1 28,570
 
Outstanding principal amount of loan extended by the Federal Reserve Bank of New York 2 28,790
Accrued interest payable to the Federal Reserve Bank of New York 2 525
Outstanding principal amount and accrued interest on loan payable to JPMorgan Chase & Co. 3 1,284
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 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 21, 2010
Net portfolio holdings of Maiden Lane II LLC 1 15,556
 
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 2 372
Deferred payment and accrued interest payable to subsidiaries of American International Group, Inc. 3 1,056
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 21, 2010
Net portfolio holdings of Maiden Lane III LLC 1 22,980
 
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 2 461
Outstanding principal amount and accrued interest on loan payable to American International Group, Inc. 3 5,288
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 21, 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 21, 2010
Asset-backed securities holdings 1 0
Other investments, net 540
Net portfolio holdings of TALF LLC 540
 
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 21, 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 74
 
Preferred interests in AIA Aurora LLC 1 16,469
Accrued dividends on preferred interests in AIA Aurora LLC 2 47
 
Preferred interests in ALICO Holdings LLC 1 9,264
Accrued dividends on preferred interests in ALICO Holdings LLC 2 27
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 21, 2010		 Change since
Wednesday
Jul 14, 2010		 Wednesday
Jul 22, 2009
Assets  
    Gold certificate account   11,037 0 0
    Special drawing rights certificate account   5,200 0 + 3,000
    Coin   2,033 + 45 + 195
    Securities, repurchase agreements, term auction
        credit, and other loans		   2,126,535 - 7,712 + 438,892
        Securities held outright 1   2,060,984 - 6,692 + 720,113
            U.S. Treasury securities   777,013 + 8 + 84,287
                Bills 2   18,423 0 0
                Notes and bonds, nominal 2   712,020 - 3 + 87,445
                Notes and bonds, inflation-indexed 2   41,129 + 4 - 3,309
                Inflation compensation 3   5,442 + 8 + 151
            Federal agency debt securities 2   159,381 - 2,730 + 56,701
            Mortgage-backed securities 4   1,124,590 - 3,970 + 579,124
        Repurchase agreements 5   0 0 0
        Term auction credit   0 0 - 237,634
        Other loans   65,551 - 1,020 - 43,586
    Net portfolio holdings of Commercial Paper
        Funding Facility LLC 6		   1 0 - 109,845
    Net portfolio holdings of Maiden Lane LLC 7   28,570 + 8 + 2,514
    Net portfolio holdings of Maiden Lane II LLC 8   15,556 + 7 - 204
    Net portfolio holdings of Maiden Lane III LLC 9   22,980 + 13 + 4,143
    Net portfolio holdings of TALF LLC 10   540 + 34 + 540
    Preferred interests in AIA Aurora LLC and ALICO
        Holdings LLC 11		   25,733 0 + 25,733
    Items in process of collection (47) 358 + 2 - 80
    Bank premises   2,231 0 + 20
    Central bank liquidity swaps 12   1,246 + 1 - 88,336
    Other assets 13   93,719 - 804 + 17,686
 
Total assets (47) 2,335,740 - 8,405 + 294,259
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 21, 2010		 Change since
Wednesday
Jul 14, 2010		 Wednesday
Jul 22, 2009
Liabilities  
    Federal Reserve notes, net of F.R. Bank holdings   902,259 - 2,281 + 33,031
    Reverse repurchase agreements 14   61,467 - 798 - 5,366
    Deposits (0) 1,298,309 - 2,959 + 251,990
        Term deposits held by depository institutions   4,241 + 2,119 + 4,241
        Other deposits held by depository institutions   1,048,285 - 22,978 + 266,896
        U.S. Treasury, general account   43,865 + 35,999 - 17,736
        U.S. Treasury, supplementary financing account   199,962 0 + 26
        Foreign official   1,448 + 194 - 436
        Other (0) 508 - 18,294 - 1,001
    Deferred availability cash items (46) 2,136 - 220 - 351
    Other liabilities and accrued dividends 15   14,730 - 2,303 + 8,253
 
Total liabilities (47) 2,278,900 - 8,563 + 287,556
 
Capital accounts  
    Capital paid in   26,661 0 + 2,145
    Surplus   25,816 + 6 + 4,527
    Other capital accounts   4,362 + 151 + 31
 
Total capital   56,840 + 158 + 6,703
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 21, 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 2,033 65 71 157 149 296 189 316 29 59 148 210 343
    Securities, repurchase agreements,
        term auction credit, and other
        loans		 2,126,535 52,178 906,409 48,137 70,025 234,728 195,035 155,386 53,109 28,243 70,712 86,553 226,020
        Securities held outright 1 2,060,984 52,157 840,991 48,130 70,023 234,724 195,026 155,370 53,087 28,214 70,700 86,542 226,020
            U.S. Treasury securities 777,013 19,664 317,062 18,146 26,400 88,493 73,527 58,576 20,014 10,637 26,655 32,627 85,212
                Bills 2 18,423 466 7,517 430 626 2,098 1,743 1,389 475 252 632 774 2,020
                Notes and bonds 3 758,590 19,197 309,545 17,715 25,774 86,395 71,784 57,187 19,540 10,385 26,023 31,854 83,192
            Federal agency debt securities 2 159,381 4,033 65,036 3,722 5,415 18,152 15,082 12,015 4,105 2,182 5,467 6,692 17,479
            Mortgage-backed securities 4 1,124,590 28,460 458,892 26,262 38,209 128,079 106,417 84,779 28,967 15,395 38,578 47,222 123,329
        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 65,551 21 65,418 7 2 4 9 16 22 28 12 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		 28,570 0 28,570 0 0 0 0 0 0 0 0 0 0
    Net portfolio holdings of Maiden
        Lane II LLC 8		 15,556 0 15,556 0 0 0 0 0 0 0 0 0 0
    Net portfolio holdings of Maiden
        Lane III LLC 9		 22,980 0 22,980 0 0 0 0 0 0 0 0 0 0
    Net portfolio holdings of TALF LLC 10 540 0 540 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 405 20 0 26 69 8 112 54 33 15 8 26 34
    Bank premises 2,231 123 258 70 143 238 219 210 135 109 266 248 212
    Central bank liquidity swaps 12 1,246 46 362 136 93 347 77 30 12 35 10 17 82
    Other assets 13 93,719 2,673 35,464 4,318 4,175 14,727 8,002 5,738 2,023 1,652 2,563 3,240 9,145
    Interdistrict settlement account 0 - 6,380 + 147,180 + 18,777 - 19,541 - 2,107 - 49,099 - 43,034 - 16,479 + 11,617 - 22,816 - 4,720 - 13,397
 
Total assets 2,335,787 49,290 1,188,980 72,235 55,812 249,495 156,575 120,012 39,335 42,022 51,341 86,508 224,183
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 21, 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 1,118,399 37,033 397,063 42,366 44,542 87,965 143,266 86,295 31,663 19,662 30,485 74,300 123,758
        Less: Notes held by F.R. Banks 216,140 4,158 87,674 5,505 9,863 14,559 29,835 12,621 4,527 4,563 3,369 12,589 26,875
            Federal Reserve notes, net 902,259 32,875 309,389 36,861 34,679 73,406 113,431 73,674 27,135 15,099 27,116 61,711 96,883
    Reverse repurchase agreements 14 61,467 1,556 25,082 1,435 2,088 7,000 5,816 4,634 1,583 841 2,109 2,581 6,741
    Deposits 1,298,309 12,688 827,618 27,843 14,372 155,455 33,346 39,655 9,862 23,968 21,355 20,982 111,164
        Term deposits held by depository
            institutions		 4,241 51 1,817 0 28 148 189 525 56 12 40 77 1,300
        Other deposits held by depository
            institutions		 1,048,285 12,615 580,230 27,838 14,341 155,169 33,155 39,099 9,805 23,955 21,314 20,905 109,860
        U.S. Treasury, general account 43,865 0 43,865 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 1,448 1 1,420 4 3 11 2 1 0 1 0 1 3
        Other 509 20 326 0 1 127 0 30 1 0 1 0 2
    Deferred availability cash items 2,182 69 0 217 515 93 150 193 58 341 83 94 369
    Other liabilities and accrued
        dividends 15		 14,730 202 10,879 212 257 741 561 462 200 139 208 286 582
 
Total liabilities 2,278,947 47,389 1,172,967 66,567 51,911 236,696 153,305 118,618 38,839 40,389 50,871 85,654 215,740
 
Capital  
    Capital paid in 26,661 916 7,627 2,806 1,918 5,438 1,545 642 218 806 211 396 4,138
    Surplus 25,816 945 7,613 2,803 1,911 7,141 1,581 620 239 712 210 353 1,688
    Other capital 4,362 39 773 58 72 221 144 132 39 115 49 104 2,617
 
Total liabilities and capital 2,335,787 49,290 1,188,980 72,235 55,812 249,495 156,575 120,012 39,335 42,022 51,341 86,508 224,183
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 21, 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 21, 2010
Federal Reserve notes outstanding 1,118,399
    Less: Notes held by F.R. Banks not subject to collateralization 216,140
        Federal Reserve notes to be collateralized 902,259
Collateral held against Federal Reserve notes 902,259
    Gold certificate account 11,037
    Special drawing rights certificate account 5,200
    U.S. Treasury, agency debt, and mortgage-backed securities pledged 1,2 886,022
    Other assets pledged 0
Memo:  
Total U.S. Treasury, agency debt, and mortgage-backed securities 1,2 2,060,984
    Less: Face value of securities under reverse repurchase agreements 59,866
        U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 2,001,118
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 22, 2010