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Release Date:   April 7, 2011
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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

April 7, 2011
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
Apr 6, 2011
Week ended
Apr 6, 2011		 Change from week ended
Mar 30, 2011 Apr 7, 2010
Reserve Bank credit 2,619,633 + 22,241 + 329,514 2,632,508
    Securities held outright 1 2,415,308 + 21,469 + 400,901 2,427,857
        U.S. Treasury securities 1,345,658 + 22,425 + 568,951 1,358,207
            Bills 2 18,423 0 0 18,423
            Notes and bonds, nominal 2 1,260,894 + 20,483 + 552,022 1,273,415
            Notes and bonds, inflation-indexed 2 59,486 + 1,837 + 15,709 59,486
            Inflation compensation 3 6,856 + 106 + 1,221 6,884
        Federal agency debt securities 2 132,495 0 - 36,493 132,495
        Mortgage-backed securities 4 937,155 - 956 - 131,558 937,155
    Repurchase agreements 5 0 0 0 0
    Term auction credit 0 0 - 3,410 0
    Other loans 19,029 - 334 - 61,385 18,494
        Primary credit 30 + 19 - 7,175 23
        Secondary credit 0 0 - 600 0
        Seasonal credit 3 - 2 - 8 5
        Credit extended to American International
            Group, Inc., net 6		 0 0 - 25,412 0
        Term Asset-Backed Securities Loan Facility 7 18,996 - 350 - 28,190 18,465
        Other credit extensions 0 0 0 0
    Net portfolio holdings of Commercial Paper
        Funding Facility LLC 8		 0 0 - 7,789 0
    Net portfolio holdings of Maiden Lane LLC 9 25,585 - 4 - 1,786 25,620
    Net portfolio holdings of Maiden Lane II LLC 10 15,867 - 39 + 523 15,814
    Net portfolio holdings of Maiden Lane III LLC 11 22,939 + 19 + 872 23,008
    Net portfolio holdings of TALF LLC 12 718 0 + 314 718
    Preferred interests in AIA Aurora LLC and ALICO
        Holdings LLC 6		 0 0 - 25,416 0
    Float -1,352 - 185 + 736 -1,682
    Central bank liquidity swaps 13 0 0 0 0
    Other Federal Reserve assets 14 121,540 + 1,316 + 25,955 122,679
Gold stock 11,041 0 0 11,041
Special drawing rights certificate account 5,200 0 0 5,200
Treasury currency outstanding 15 43,724 + 14 + 679 43,724
 
Total factors supplying reserve funds 2,679,598 + 22,255 + 330,193 2,692,473
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
Apr 6, 2011
Week ended
Apr 6, 2011		 Change from week ended
Mar 30, 2011 Apr 7, 2010
Currency in circulation 15 1,006,244 + 2,947 + 70,626 1,009,379
Reverse repurchase agreements 16 61,049 - 3,131 + 5,664 54,622
    Foreign official and international accounts 59,527 - 3,972 + 4,142 54,622
    Others 1,521 + 840 + 1,521 0
Treasury cash holdings 210 - 2 - 10 218
Deposits with F.R. Banks, other than reserve balances 67,301 + 634 - 114,075 53,433
    Term deposits held by depository institutions 0 0 0 0
    U.S. Treasury, general account 54,802 - 3,713 + 35,711 40,962
    U.S. Treasury, supplementary financing account 5,000 0 - 144,973 5,000
    Foreign official 135 + 10 - 2,892 163
    Service-related 2,512 + 1 - 204 2,512
        Required clearing balances 2,512 + 1 - 204 2,512
        Adjustments to compensate for float 0 0 0 0
    Other 4,853 + 4,337 - 1,715 4,797
Funds from American International Group, Inc. asset
    dispositions, held as agent 6		 0 0 0 0
Other liabilities and capital 17 72,402 - 280 + 6,668 72,196
 
Total factors, other than reserve balances,
    absorbing reserve funds		 1,207,205 + 167 - 31,128 1,189,848
 
Reserve balances with Federal Reserve Banks 1,472,393 + 22,088 + 361,321 1,502,625
Note: Components may not sum to totals because of rounding.


1. 
Includes securities lent to dealers under the overnight securities lending facility; 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. 
As a result of the closing of the American International Group, Inc. (AIG) recapitalization plan on January 14, 2011, the credit extended to AIG was fully repaid and the Federal Reserve's commitment to lend any further funds was terminated. In addition, the Federal Reserve Bank of New York (FRBNY) has been paid in full for its preferred interests in AIA Aurora LLC and ALICO Holdings LLC. The funds from AIG asset dispositions that FRBNY held as agent were the source of repayment of the credit extended to AIG, as well as a portion of the FRBNY's preferred interests in ALICO Holdings LLC. The remaining FRBNY preferred interests in ALICO Holdings LLC and AIA Aurora LLC, valued at approximately $20 billion, were purchased by AIG through a draw on the Treasury's Series F preferred stock commitment and then transferred by AIG to the Treasury as consideration for the draw on the available Series F funds.
7. 
Includes credit extended by the Federal Reserve Bank of New York to eligible borrowers through the Term Asset-Backed Securities Loan Facility.
8. 
Includes the book value of the commercial paper, net of amortized costs and related fees, and other investments held by the Commercial Paper Funding Facility LLC.
9. 
Refer to table 4 and the note on consolidation accompanying table 9.
10. 
Refer to table 5 and the note on consolidation accompanying table 9.
11. 
Refer to table 6 and the note on consolidation accompanying table 9.
12. 
Refer to table 7 and the note on consolidation accompanying table 9.
13. 
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.
14. 
Includes other assets denominated in foreign currencies, which are revalued daily at market exchange rates, and the fair value adjustment to credit extended by the FRBNY to eligible borrowers through the Term Asset-Backed Securities Loan Facility. Before the closing of the AIG recapitalization plan on January 14, 2011, included accrued dividends on the FRBNY's preferred interests in AIA Aurora LLC and ALICO Holdings LLC.
15. 
Estimated.
16. 
Cash value of agreements, which are collateralized by U.S. Treasury securities, federal agency debt securities, and mortgage-backed securities.
17. 
Includes the liabilities of 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 7 and the note on consolidation accompanying table 9. Also includes the liability for interest on Federal Reserve notes due to U.S. Treasury. Refer to table 8 and table 9.

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
Apr 6, 2011
Week ended
Apr 6, 2011		 Change from week ended
Mar 30, 2011 Apr 7, 2010
Marketable securities held in custody for foreign
    official and international accounts 1		 3,407,389 - 224 + 382,850 3,406,482
    U.S. Treasury securities 2,642,772 + 645 + 398,084 2,643,526
    Federal agency securities 2 764,617 - 869 - 15,234 762,956
Securities lent to dealers 28,165 + 7,712 + 22,289 25,094
    Overnight facility 3 28,165 + 7,712 + 22,289 25,094
        U.S. Treasury securities 26,991 + 7,680 + 22,411 23,857
        Federal agency debt securities 1,174 + 31 - 121 1,237
Note: Components may not sum to totals because of rounding.


1. 
Face value of the securities. Includes U.S. Treasury STRIPS and other zero-coupon bonds at face value and mortgage-backed securities at original face value.
2. 
Includes debt and mortgage-backed securities.
3. 
Fully collateralized by U.S. Treasury securities.

2. Maturity Distribution of Securities, Loans, and Selected Other Assets and Liabilities, April 6, 2011
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 23 5 5 18,460 0 ... 18,494
U.S. Treasury securities 2  
    Holdings 19,249 21,335 68,371 579,118 488,876 181,257 1,358,207
    Weekly changes + 2,178 - 3,696 + 571 + 13,495 + 10,080 + 2,133 + 24,762
Federal agency debt securities 3  
    Holdings 4,035 13,390 18,592 67,221 26,910 2,347 132,495
    Weekly changes + 2,428 + 106 - 2,534 0 0 0 0
Mortgage-backed securities 4  
    Holdings 0 0 0 20 23 937,112 937,155
    Weekly changes 0 0 0 0 0 0 0
Asset-backed securities held by
    TALF LLC 5		 0 0 0 0 0 0 0
Repurchase agreements 6 0 0 ... ... ... ... 0
Central bank liquidity swaps 7 0 0 0 0 0 0 0
   
Reverse repurchase agreements 6 54,622 0 ... ... ... ... 54,622
Term deposits 0 0 0 ... ... ... 0
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 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 asset-backed securities held by TALF LLC, which is the remaining principal balance of the underlying assets.
6. 
Cash value of agreements.
7. 
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
Apr 6, 2011
Mortgage-backed securities held outright 1 937,155
 
Commitments to buy mortgage-backed securities 2 0
Commitments to sell mortgage-backed securities 2 0
 
Cash and cash equivalents 3 0
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 8 and table 9.

4. Information on Principal Accounts of Maiden Lane LLC
Millions of dollars
Account name Wednesday
Apr 6, 2011
Net portfolio holdings of Maiden Lane LLC 1 25,620
 
Outstanding principal amount of loan extended by the Federal Reserve Bank of New York 2 23,470
Accrued interest payable to the Federal Reserve Bank of New York 2 667
Outstanding principal amount and accrued interest on loan payable to JPMorgan Chase & Co. 3 1,333
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 December 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 9.
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 8 and table 9.

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
Apr 6, 2011
Net portfolio holdings of Maiden Lane II LLC 1 15,814
 
Outstanding principal amount of loan extended by the Federal Reserve Bank of New York 2 12,155
Accrued interest payable to the Federal Reserve Bank of New York 2 495
Deferred payment and accrued interest payable to subsidiaries of American International Group, Inc. 3 1,080
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 December 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 9.
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 8 and table 9.

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
Apr 6, 2011
Net portfolio holdings of Maiden Lane III LLC 1 23,008
 
Outstanding principal amount of loan extended by the Federal Reserve Bank of New York 2 12,346
Accrued interest payable to the Federal Reserve Bank of New York 2 589
Outstanding principal amount and accrued interest on loan payable to American International Group, Inc. 3 5,412
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 December 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 9.
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 8 and table 9.

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 TALF LLC
Millions of dollars
Account name Wednesday
Apr 6, 2011
Asset-backed securities holdings 1 0
Other investments, net 718
Net portfolio holdings of TALF LLC 718
 
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 3 107
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 9.
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 8 and table 9.

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 $4.3 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.


8. Consolidated Statement of Condition of All Federal Reserve Banks
Millions of dollars
Assets, liabilities, and capital Eliminations from
consolidation		 Wednesday
Apr 6, 2011		 Change since
Wednesday
Mar 30, 2011		 Wednesday
Apr 7, 2010
Assets  
    Gold certificate account   11,037 0 0
    Special drawing rights certificate account   5,200 0 0
    Coin   2,179 - 3 + 112
    Securities, repurchase agreements, term auction
        credit, and other loans		   2,446,351 + 24,003 + 348,193
        Securities held outright 1   2,427,857 + 24,762 + 413,425
            U.S. Treasury securities   1,358,207 + 24,762 + 581,499
                Bills 2   18,423 0 0
                Notes and bonds, nominal 2   1,273,415 + 24,191 + 564,543
                Notes and bonds, inflation-indexed 2   59,486 + 493 + 15,709
                Inflation compensation 3   6,884 + 79 + 1,248
            Federal agency debt securities 2   132,495 0 - 36,493
            Mortgage-backed securities 4   937,155 0 - 131,581
        Repurchase agreements 5   0 0 0
        Term auction credit   0 0 - 3,410
        Other loans   18,494 - 760 - 61,822
    Net portfolio holdings of Commercial Paper
        Funding Facility LLC 6		   0 0 - 7,797
    Net portfolio holdings of Maiden Lane LLC 7   25,620 + 32 - 1,797
    Net portfolio holdings of Maiden Lane II LLC 8   15,814 - 127 + 623
    Net portfolio holdings of Maiden Lane III LLC 9   23,008 + 81 + 1,095
    Net portfolio holdings of TALF LLC 10   718 0 + 314
    Preferred interests in AIA Aurora LLC and ALICO
        Holdings LLC 11		   0 0 - 25,416
    Items in process of collection (99) 204 + 53 - 16
    Bank premises   2,213 - 6 - 24
    Central bank liquidity swaps 12   0 0 0
    Other assets 13   120,468 + 2,191 + 26,572
 
Total assets (99) 2,652,812 + 26,223 + 341,859
Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table.


8. Consolidated Statement of Condition of All Federal Reserve Banks (continued)
Millions of dollars
Assets, liabilities, and capital Eliminations from
consolidation		 Wednesday
Apr 6, 2011		 Change since
Wednesday
Mar 30, 2011		 Wednesday
Apr 7, 2010
Liabilities  
    Federal Reserve notes, net of F.R. Bank holdings   968,048 + 4,057 + 71,753
    Reverse repurchase agreements 14   54,622 - 11,189 - 1,469
    Deposits (0) 1,556,060 + 32,672 + 265,924
        Term deposits held by depository institutions   0 0 0
        Other deposits held by depository institutions   1,505,138 + 46,973 + 390,850
        U.S. Treasury, general account   40,962 - 18,239 + 20,523
        U.S. Treasury, supplementary financing account   5,000 0 - 144,973
        Foreign official   163 + 32 - 4,912
        Other (0) 4,797 + 3,905 + 4,437
    Deferred availability cash items (99) 1,886 + 191 - 580
    Other liabilities and accrued dividends 15   19,610 + 487 + 6,681
 
Total liabilities (99) 2,600,225 + 26,218 + 342,308
 
Capital accounts  
    Capital paid in   26,293 + 2 + 35
    Surplus   26,293 + 2 + 954
    Other capital accounts   0 0 - 1,438
 
Total capital   52,587 + 5 - 448
Note: Components may not sum to totals because of rounding.


1. 
Includes securities lent to dealers under the overnight securities lending facility; 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. 
Includes the book value of the commercial paper, net of amortized costs and related fees, and other investments held by the Commercial Paper Funding Facility LLC.
7. 
Refer to table 4 and the note on consolidation accompanying table 9.
8. 
Refer to table 5 and the note on consolidation accompanying table 9.
9. 
Refer to table 6 and the note on consolidation accompanying table 9.
10. 
Refer to table 7 and the note on consolidation accompanying table 9.
11. 
As a result of the closing of the AIG recapitalization plan on January 14, 2011, the Federal Reserve Bank of New York has been paid in full for its preferred interests in AIA Aurora LLC and ALICO Holdings LLC. A portion of the preferred interests was redeemed by AIG with the funds from AIG asset dispositions that were held as agent by the Federal Reserve.
12. 
Dollar value of foreign currency held under these agreements valued at the exchange rate to be used when the foreign currency is returned to the foreign central bank. This exchange rate equals the market exchange rate used when the foreign currency was acquired from the foreign central bank.
13. 
Includes other assets denominated in foreign currencies, which are revalued daily at market exchange rates and the fair value adjustment to credit extended by the Federal Reserve Bank of New York (FRBNY) to eligible borrowers through the Term Asset-Backed Securities Loan Facility. Before the closing of the AIG recapitalization plan on January 14, 2011, included accrued dividends on the FRBNY's preferred interests in AIA Aurora LLC and ALICO Holdings LLC.
14. 
Cash value of agreements, which are collateralized by U.S. Treasury securities, federal agency debt securities, and mortgage-backed securities.
15. 
Includes the liabilities of 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 7 and the note on consolidation accompanying table 9. Also includes the liability for interest on Federal Reserve notes due to U.S. Treasury. Before the closing of the AIG recapitalization plan on January 14, 2011, included funds from American International Group, Inc. asset dispositions, held as agent.


9. Statement of Condition of Each Federal Reserve Bank, April 6, 2011
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 2,179 53 85 169 162 361 172 339 33 62 159 223 363
    Securities, repurchase agreements,
        term auction credit, and other
        loans		 2,446,351 61,441 1,009,160 56,719 82,488 276,507 229,742 183,031 62,540 33,237 83,285 101,947 266,254
        Securities held outright 1 2,427,857 61,441 990,694 56,697 82,488 276,507 229,742 183,027 62,537 33,237 83,285 101,947 266,254
            U.S. Treasury securities 1,358,207 34,372 554,220 31,718 46,146 154,685 128,524 102,390 34,985 18,594 46,592 57,032 148,949
                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 1,339,785 33,905 546,703 31,288 45,520 152,587 126,781 101,001 34,510 18,341 45,960 56,258 146,929
            Federal agency debt securities 2 132,495 3,353 54,065 3,094 4,502 15,090 12,538 9,988 3,413 1,814 4,545 5,564 14,530
            Mortgage-backed securities 4 937,155 23,716 382,409 21,885 31,840 106,732 88,681 70,649 24,139 12,829 32,148 39,352 102,774
        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 18,494 0 18,465 22 0 0 0 3 3 0 0 0 0
    Net portfolio holdings of Commercial
        Paper Funding Facility LLC 6		 0 0 0 0 0 0 0 0 0 0 0 0 0
    Net portfolio holdings of Maiden
        Lane LLC 7		 25,620 0 25,620 0 0 0 0 0 0 0 0 0 0
    Net portfolio holdings of Maiden
        Lane II LLC 8		 15,814 0 15,814 0 0 0 0 0 0 0 0 0 0
    Net portfolio holdings of Maiden
        Lane III LLC 9		 23,008 0 23,008 0 0 0 0 0 0 0 0 0 0
    Net portfolio holdings of TALF LLC 10 718 0 718 0 0 0 0 0 0 0 0 0 0
    Preferred interests in AIA Aurora LLC
        and ALICO Holdings LLC 11		 0 0 0 0 0 0 0 0 0 0 0 0 0
    Items in process of collection 303 5 0 48 60 7 31 30 8 35 27 31 20
    Bank premises 2,213 125 256 68 139 238 216 208 136 107 263 246 212
    Central bank liquidity swaps 12 0 0 0 0 0 0 0 0 0 0 0 0 0
    Other assets 13 120,468 3,317 45,920 4,789 5,150 16,168 10,426 7,739 2,663 2,132 3,471 4,368 14,326
    Interdistrict settlement account 0 - 8,763 + 296,532 + 39,956 - 20,854 - 91,569 - 70,799 - 36,955 - 23,551 - 6,375 - 30,423 - 8,070 - 39,128
 
Total assets 2,652,911 56,743 1,422,967 102,364 67,844 202,970 171,827 155,702 42,303 29,490 57,232 99,679 243,791
Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table.


9. Statement of Condition of Each Federal Reserve Bank, April 6, 2011 (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 1,120,761 43,097 384,356 45,939 46,473 89,815 140,860 85,364 31,839 19,634 32,460 75,318 125,606
        Less: Notes held by F.R. Banks 152,713 4,515 42,227 5,024 7,335 11,611 22,854 12,174 3,999 5,218 3,219 11,097 23,441
            Federal Reserve notes, net 968,048 38,582 342,129 40,915 39,138 78,204 118,006 73,190 27,840 14,416 29,241 64,221 102,165
    Reverse repurchase agreements 14 54,622 1,382 22,289 1,276 1,856 6,221 5,169 4,118 1,407 748 1,874 2,294 5,990
    Deposits 1,556,060 14,624 1,028,610 55,007 22,339 106,596 44,779 76,315 12,290 12,047 25,226 31,924 126,304
        Term deposits held by depository
            institutions		 0 0 0 0 0 0 0 0 0 0 0 0 0
        Other deposits held by depository
            institutions		 1,505,138 14,620 977,955 55,003 22,336 106,420 44,777 76,289 12,259 12,043 25,224 31,923 126,289
        U.S. Treasury, general account 40,962 0 40,962 0 0 0 0 0 0 0 0 0 0
        U.S. Treasury, supplementary
            financing account		 5,000 0 5,000 0 0 0 0 0 0 0 0 0 0
        Foreign official 163 1 135 4 3 8 2 1 0 1 0 1 6
        Other 4,797 2 4,559 0 0 168 0 25 30 3 1 0 9
    Deferred availability cash items 1,985 76 0 279 220 94 117 131 68 443 107 103 347
    Interest on Federal Reserve notes due
        to U.S. Treasury 15		 1,401 28 644 15 31 143 140 109 44 16 48 53 130
    Other liabilities and accrued
        dividends 16		 18,209 217 13,882 253 324 843 606 503 214 157 222 307 680
 
Total liabilities 2,600,324 54,909 1,407,554 97,745 63,908 192,101 168,817 154,365 41,862 27,827 56,717 98,902 235,617
 
Capital  
    Capital paid in 26,293 917 7,707 2,309 1,968 5,435 1,505 668 220 831 257 389 4,087
    Surplus 26,293 917 7,707 2,309 1,968 5,435 1,505 668 220 831 257 389 4,087
    Other capital 0 0 0 0 0 0 0 0 0 0 0 0 0
 
Total liabilities and capital 2,652,911 56,743 1,422,967 102,364 67,844 202,970 171,827 155,702 42,303 29,490 57,232 99,679 243,791
Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table.


9. Statement of Condition of Each Federal Reserve Bank, April 6, 2011 (continued)

1. 
Includes securities lent to dealers under the overnight securities lending facility; 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. 
Includes the book value of the commercial paper, net of amortized costs and related fees, and other investments held by the Commercial Paper Funding Facility LLC.
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 7 and the note on consolidation below.
11. 
As a result of the closing of the AIG recapitalization plan on January 14, 2011, the Federal Reserve Bank of New York has been paid in full for its preferred interests in AIA Aurora LLC and ALICO Holdings LLC. A portion of the preferred interests was redeemed by AIG with the funds from AIG asset dispositions that were held as agent by the Federal Reserve.
12. 
Dollar value of foreign currency held under these agreements valued at the exchange rate to be used when the foreign currency is returned to the foreign central bank. This exchange rate equals the market exchange rate used when the foreign currency was acquired from the foreign central bank.
13. 
Includes other assets denominated in foreign currencies, which are revalued daily at market exchange rates and the fair value adjustment to credit extended by the Federal Reserve Bank of New York (FRBNY) to eligible borrowers through the Term Asset-Backed Securities Loan Facility. Before the closing of the AIG recapitalization plan on January 14, 2011, included accrued dividends on the FRBNY's preferred interests in AIA Aurora LLC and ALICO Holdings LLC.
14. 
Cash value of agreements, which are collateralized by U.S. Treasury securities, federal agency debt securities, and mortgage-backed securities.
15. 
Represents the estimated weekly remittances to U.S Treasury as interest on Federal Reserve notes or, in those cases where the Reserve Bank's net earnings are not sufficient to equate surplus to capital paid-in, the deferred asset for interest on Federal Reserve notes. The amount of any deferred asset, which is presented as a negative amount in this line, represents the amount of the Federal Reserve Bank's earnings that must be retained before remittances to the U.S. Treasury resume. The amounts on this line are calculated in accordance with Board of Governors policy, which requires the Federal Reserve Banks to remit residual earnings to the U.S. Treasury as interest on Federal Reserve notes after providing for the costs of operations, payment of dividends, and the amount necessary to equate surplus with capital paid-in.
16. 
Includes the liabilities of 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 7 and the note on consolidation below. Before the closing of the AIG recapitalization plan on January 14, 2011, included funds from American International Group, Inc. asset dispositions, held as agent.


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 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 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 8), 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 8).


10. Collateral Held against Federal Reserve Notes: Federal Reserve Agents' Accounts
Millions of dollars
Federal Reserve notes and collateral Wednesday
Apr 6, 2011
Federal Reserve notes outstanding 1,120,761
    Less: Notes held by F.R. Banks not subject to collateralization 152,713
        Federal Reserve notes to be collateralized 968,048
Collateral held against Federal Reserve notes 968,048
    Gold certificate account 11,037
    Special drawing rights certificate account 5,200
    U.S. Treasury, agency debt, and mortgage-backed securities pledged 1,2 951,811
    Other assets pledged 0
Memo:  
Total U.S. Treasury, agency debt, and mortgage-backed securities 1,2 2,427,857
    Less: Face value of securities under reverse repurchase agreements 48,195
        U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 2,379,662
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 securities lending facility; refer to table 1A.

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Last update: April 7, 2011