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Release Date:   April 14, 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 14, 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 13, 2011
Week ended
Apr 13, 2011		 Change from week ended
Apr 6, 2011 Apr 14, 2010
Reserve Bank credit 2,643,294 + 23,661 + 345,850 2,649,498
    Securities held outright 1 2,437,073 + 21,765 + 413,175 2,442,738
        U.S. Treasury securities 1,368,112 + 22,454 + 591,403 1,374,695
            Bills 2 18,423 0 0 18,423
            Notes and bonds, nominal 2 1,283,271 + 22,377 + 574,399 1,289,826
            Notes and bonds, inflation-indexed 2 59,486 0 + 15,709 59,486
            Inflation compensation 3 6,932 + 76 + 1,294 6,960
        Federal agency debt securities 2 131,806 - 689 - 37,109 130,888
        Mortgage-backed securities 4 937,155 0 - 141,118 937,155
    Repurchase agreements 5 0 0 0 0
    Term auction credit 0 0 0 0
    Other loans 18,242 - 787 - 61,821 17,855
        Primary credit 21 - 9 - 6,749 2
        Secondary credit 0 0 - 600 0
        Seasonal credit 5 + 2 - 16 7
        Credit extended to American International
            Group, Inc., net 6		 0 0 - 25,538 0
        Term Asset-Backed Securities Loan Facility 7 18,216 - 780 - 28,917 17,847
        Other credit extensions 0 0 0 0
    Net portfolio holdings of Commercial Paper
        Funding Facility LLC 8		 0 0 - 7,800 0
    Net portfolio holdings of Maiden Lane LLC 9 25,619 + 34 - 1,813 25,612
    Net portfolio holdings of Maiden Lane II LLC 10 15,819 - 48 + 628 15,847
    Net portfolio holdings of Maiden Lane III LLC 11 23,014 + 75 + 1,084 23,051
    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 -1,331 + 21 + 460 -1,532
    Central bank liquidity swaps 13 0 0 0 0
    Other Federal Reserve assets 14 124,141 + 2,601 + 27,039 125,208
Gold stock 11,041 0 0 11,041
Special drawing rights certificate account 5,200 0 0 5,200
Treasury currency outstanding 15 43,738 + 14 + 690 43,738
 
Total factors supplying reserve funds 2,703,273 + 23,675 + 346,540 2,709,476
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 13, 2011
Week ended
Apr 13, 2011		 Change from week ended
Apr 6, 2011 Apr 14, 2010
Currency in circulation 15 1,009,301 + 3,057 + 73,665 1,011,140
Reverse repurchase agreements 16 56,799 - 4,250 + 2,119 54,022
    Foreign official and international accounts 56,799 - 2,728 + 2,119 54,022
    Others 0 - 1,521 0 0
Treasury cash holdings 216 + 6 + 8 207
Deposits with F.R. Banks, other than reserve balances 41,533 - 25,768 - 162,603 39,635
    Term deposits held by depository institutions 5,081 + 5,081 + 5,081 5,081
    U.S. Treasury, general account 25,419 - 29,383 + 13,753 24,772
    U.S. Treasury, supplementary financing account 5,000 0 - 169,967 5,000
    Foreign official 129 - 6 - 3,088 123
    Service-related 2,548 + 36 - 158 2,548
        Required clearing balances 2,548 + 36 - 158 2,548
        Adjustments to compensate for float 0 0 0 0
    Other 3,357 - 1,496 - 8,223 2,112
Funds from American International Group, Inc. asset
    dispositions, held as agent 6		 0 0 0 0
Other liabilities and capital 17 73,162 + 760 + 4,953 72,833
 
Total factors, other than reserve balances,
    absorbing reserve funds		 1,181,011 - 26,194 - 81,858 1,177,837
 
Reserve balances with Federal Reserve Banks 1,522,262 + 49,869 + 428,399 1,531,639
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 13, 2011
Week ended
Apr 13, 2011		 Change from week ended
Apr 6, 2011 Apr 14, 2010
Marketable securities held in custody for foreign
    official and international accounts 1		 3,417,809 + 10,420 + 383,402 3,408,965
    U.S. Treasury securities 2,654,919 + 12,147 + 403,877 2,650,037
    Federal agency securities 2 762,890 - 1,727 - 20,475 758,927
Securities lent to dealers 24,471 - 3,694 + 17,942 23,342
    Overnight facility 3 24,471 - 3,694 + 17,942 23,342
        U.S. Treasury securities 23,282 - 3,709 + 17,953 22,440
        Federal agency debt securities 1,190 + 16 - 10 902
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 13, 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 5 3 5 17,842 0 ... 17,855
U.S. Treasury securities 2  
    Holdings 15,733 24,855 68,372 585,483 496,992 183,260 1,374,695
    Weekly changes - 3,516 + 3,520 + 1 + 6,365 + 8,116 + 2,003 + 16,488
Federal agency debt securities 3  
    Holdings 5,770 10,048 18,592 67,221 26,910 2,347 130,888
    Weekly changes + 1,735 - 3,342 0 0 0 0 - 1,607
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 54,022 0 ... ... ... ... 54,022
Term deposits 0 5,081 0 ... ... ... 5,081
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 13, 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 13, 2011
Net portfolio holdings of Maiden Lane LLC 1 25,612
 
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 2 670
Outstanding principal amount and accrued interest on loan payable to JPMorgan Chase & Co. 3 1,334
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 13, 2011
Net portfolio holdings of Maiden Lane II LLC 1 15,847
 
Outstanding principal amount of loan extended by the Federal Reserve Bank of New York 2 12,155
Accrued interest payable to the Federal Reserve Bank of New York 2 498
Deferred payment and accrued interest payable to subsidiaries of American International Group, Inc. 3 1,081
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 13, 2011
Net portfolio holdings of Maiden Lane III LLC 1 23,051
 
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 2 592
Outstanding principal amount and accrued interest on loan payable to American International Group, Inc. 3 5,415
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 13, 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 13, 2011		 Change since
Wednesday
Apr 6, 2011		 Wednesday
Apr 14, 2010
Assets  
    Gold certificate account   11,037 0 0
    Special drawing rights certificate account   5,200 0 0
    Coin   2,179 0 + 112
    Securities, repurchase agreements, term auction
        credit, and other loans		   2,460,593 + 14,242 + 333,781
        Securities held outright 1   2,442,738 + 14,881 + 395,251
            U.S. Treasury securities   1,374,695 + 16,488 + 597,984
                Bills 2   18,423 0 0
                Notes and bonds, nominal 2   1,289,826 + 16,411 + 580,954
                Notes and bonds, inflation-indexed 2   59,486 0 + 15,709
                Inflation compensation 3   6,960 + 76 + 1,321
            Federal agency debt securities 2   130,888 - 1,607 - 38,015
            Mortgage-backed securities 4   937,155 0 - 164,719
        Repurchase agreements 5   0 0 0
        Term auction credit   0 0 0
        Other loans   17,855 - 639 - 61,470
    Net portfolio holdings of Commercial Paper
        Funding Facility LLC 6		   0 0 - 7,809
    Net portfolio holdings of Maiden Lane LLC 7   25,612 - 8 - 1,910
    Net portfolio holdings of Maiden Lane II LLC 8   15,847 + 33 + 656
    Net portfolio holdings of Maiden Lane III LLC 9   23,051 + 43 + 1,015
    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 (101) 130 - 74 - 54
    Bank premises   2,213 0 - 26
    Central bank liquidity swaps 12   0 0 0
    Other assets 13   123,002 + 2,534 + 26,182
 
Total assets (101) 2,669,583 + 16,771 + 326,846
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 13, 2011		 Change since
Wednesday
Apr 6, 2011		 Wednesday
Apr 14, 2010
Liabilities  
    Federal Reserve notes, net of F.R. Bank holdings   969,784 + 1,736 + 74,334
    Reverse repurchase agreements 14   54,022 - 600 - 1,204
    Deposits (0) 1,571,282 + 15,222 + 251,167
        Term deposits held by depository institutions   5,081 + 5,081 + 5,081
        Other deposits held by depository institutions   1,534,194 + 29,056 + 470,214
        U.S. Treasury, general account   24,772 - 16,190 + 15,294
        U.S. Treasury, supplementary financing account   5,000 0 - 169,967
        Foreign official   123 - 40 - 2,523
        Other (0) 2,112 - 2,685 - 66,932
    Deferred availability cash items (101) 1,662 - 224 - 771
    Other liabilities and accrued dividends 15   20,251 + 641 + 5,078
 
Total liabilities (101) 2,617,001 + 16,776 + 328,604
 
Capital accounts  
    Capital paid in   26,291 - 2 + 68
    Surplus   26,291 - 2 + 735
    Other capital accounts   0 0 - 2,562
 
Total capital   52,582 - 5 - 1,758
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 13, 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 82 168 160 363 172 340 32 62 159 223 364
    Securities, repurchase agreements,
        term auction credit, and other
        loans		 2,460,593 61,818 1,014,615 57,045 82,994 278,201 231,150 184,152 62,924 33,441 83,796 102,572 267,886
        Securities held outright 1 2,442,738 61,818 996,766 57,045 82,994 278,201 231,150 184,149 62,921 33,441 83,796 102,572 267,886
            U.S. Treasury securities 1,374,695 34,789 560,948 32,103 46,706 156,563 130,084 103,633 35,410 18,819 47,158 57,724 150,757
                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 1,356,272 34,323 553,431 31,673 46,080 154,465 128,341 102,244 34,935 18,567 46,526 56,950 148,737
            Federal agency debt securities 2 130,888 3,312 53,409 3,057 4,447 14,907 12,386 9,867 3,371 1,792 4,490 5,496 14,354
            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 17,855 0 17,848 0 0 0 0 3 4 1 1 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		 25,612 0 25,612 0 0 0 0 0 0 0 0 0 0
    Net portfolio holdings of Maiden
        Lane II LLC 8		 15,847 0 15,847 0 0 0 0 0 0 0 0 0 0
    Net portfolio holdings of Maiden
        Lane III LLC 9		 23,051 0 23,051 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 231 4 0 48 59 6 -26 23 11 39 25 22 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 13 123,002 3,386 46,906 4,879 5,256 16,491 10,653 7,909 2,721 2,171 3,545 4,466 14,619
    Interdistrict settlement account 0 - 9,080 + 288,393 + 40,834 - 17,287 - 94,239 - 72,347 - 28,539 - 23,307 - 8,014 - 30,510 - 7,771 - 38,132
 
Total assets 2,669,683 56,871 1,421,336 103,656 72,020 202,319 171,858 165,403 42,992 28,098 57,728 100,692 246,712
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 13, 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 1,124,270 43,117 386,809 46,313 46,496 90,042 140,623 86,175 31,833 19,619 32,444 75,250 125,548
        Less: Notes held by F.R. Banks 154,486 4,487 43,356 4,948 7,229 11,908 22,626 12,575 3,981 5,282 3,245 11,084 23,764
            Federal Reserve notes, net 969,784 38,630 343,453 41,365 39,267 78,134 117,997 73,600 27,852 14,337 29,199 64,166 101,783
    Reverse repurchase agreements 14 54,022 1,367 22,044 1,262 1,835 6,152 5,112 4,072 1,391 740 1,853 2,268 5,924
    Deposits 1,571,282 14,703 1,025,741 55,777 26,350 105,997 44,865 85,653 12,986 10,756 25,782 33,013 129,659
        Term deposits held by depository
            institutions		 5,081 15 2,550 1,250 11 765 7 226 52 35 11 10 148
        Other deposits held by depository
            institutions		 1,534,194 14,685 991,435 54,522 26,335 105,069 44,856 85,401 12,903 10,719 25,769 33,002 129,496
        U.S. Treasury, general account 24,772 0 24,772 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 123 1 95 4 3 8 2 1 0 1 0 1 6
        Other 2,112 1 1,890 0 1 155 0 25 30 0 1 0 9
    Deferred availability cash items 1,763 62 0 308 216 64 97 107 62 411 99 84 253
    Interest on Federal Reserve notes due
        to U.S. Treasury 15		 2,032 59 818 73 86 257 172 133 43 31 55 71 232
    Other liabilities and accrued
        dividends 16		 18,219 216 13,866 254 328 847 604 505 216 160 225 312 685
 
Total liabilities 2,617,101 55,037 1,405,922 99,038 68,083 191,452 168,847 164,071 42,552 26,435 57,213 99,915 238,537
 
Capital  
    Capital paid in 26,291 917 7,707 2,309 1,968 5,433 1,505 666 220 831 257 389 4,088
    Surplus 26,291 917 7,707 2,309 1,968 5,433 1,505 666 220 831 257 389 4,088
    Other capital 0 0 0 0 0 0 0 0 0 0 0 0 0
 
Total liabilities and capital 2,669,683 56,871 1,421,336 103,656 72,020 202,319 171,858 165,403 42,992 28,098 57,728 100,692 246,712
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 13, 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 13, 2011
Federal Reserve notes outstanding 1,124,270
    Less: Notes held by F.R. Banks not subject to collateralization 154,486
        Federal Reserve notes to be collateralized 969,784
Collateral held against Federal Reserve notes 969,784
    Gold certificate account 11,037
    Special drawing rights certificate account 5,200
    U.S. Treasury, agency debt, and mortgage-backed securities pledged 1,2 953,547
    Other assets pledged 0
Memo:  
Total U.S. Treasury, agency debt, and mortgage-backed securities 1,2 2,442,738
    Less: Face value of securities under reverse repurchase agreements 38,196
        U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 2,404,542
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 14, 2011