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Release Date:   April 21, 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 21, 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 20, 2011
Week ended
Apr 20, 2011		 Change from week ended
Apr 13, 2011 Apr 21, 2010
Reserve Bank credit 2,659,324 + 16,030 + 340,846 2,669,964
    Securities held outright 1 2,454,031 + 16,958 + 408,549 2,464,176
        U.S. Treasury securities 1,390,584 + 22,472 + 613,871 1,402,494
            Bills 2 18,423 0 0 18,423
            Notes and bonds, nominal 2 1,308,454 + 25,183 + 596,196 1,320,801
            Notes and bonds, inflation-indexed 2 56,982 - 2,504 + 16,091 56,565
            Inflation compensation 3 6,726 - 206 + 1,584 6,706
        Federal agency debt securities 2 129,513 - 2,293 - 39,390 128,460
        Mortgage-backed securities 4 933,934 - 3,221 - 165,931 933,222
    Repurchase agreements 5 0 0 0 0
    Term auction credit 0 0 0 0
    Other loans 17,618 - 624 - 61,218 17,619
        Primary credit 5 - 16 - 6,222 6
        Secondary credit 0 0 - 600 0
        Seasonal credit 10 + 5 - 14 11
        Credit extended to American International
            Group, Inc., net 6		 0 0 - 24,964 0
        Term Asset-Backed Securities Loan Facility 7 17,603 - 613 - 29,418 17,603
        Other credit extensions 0 0 0 0
    Net portfolio holdings of Commercial Paper
        Funding Facility LLC 8		 0 0 - 7,812 0
    Net portfolio holdings of Maiden Lane LLC 9 24,278 - 1,341 - 3,251 24,312
    Net portfolio holdings of Maiden Lane II LLC 10 15,851 + 32 + 659 15,872
    Net portfolio holdings of Maiden Lane III LLC 11 23,034 + 20 + 997 23,039
    Net portfolio holdings of TALF LLC 12 718 0 + 309 718
    Preferred interests in AIA Aurora LLC and ALICO
        Holdings LLC 6		 0 0 - 25,416 0
    Float -1,270 + 61 + 649 -1,325
    Central bank liquidity swaps 13 0 0 0 0
    Other Federal Reserve assets 14 125,065 + 924 + 27,381 125,553
Gold stock 11,041 0 0 11,041
Special drawing rights certificate account 5,200 0 0 5,200
Treasury currency outstanding 15 43,851 + 14 + 800 43,851
 
Total factors supplying reserve funds 2,719,416 + 16,044 + 341,647 2,730,056
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 20, 2011
Week ended
Apr 20, 2011		 Change from week ended
Apr 13, 2011 Apr 21, 2010
Currency in circulation 15 1,010,514 + 1,113 + 75,830 1,012,039
Reverse repurchase agreements 16 55,934 - 865 + 1,843 56,064
    Foreign official and international accounts 55,934 - 865 + 1,843 56,064
    Others 0 0 0 0
Treasury cash holdings 205 - 11 - 27 192
Deposits with F.R. Banks, other than reserve balances 92,590 + 51,057 - 158,866 126,405
    Term deposits held by depository institutions 5,081 0 + 5,081 5,081
    U.S. Treasury, general account 73,268 + 47,849 + 27,180 113,160
    U.S. Treasury, supplementary financing account 5,000 0 - 194,961 5,000
    Foreign official 130 + 1 - 2,174 125
    Service-related 2,548 0 - 188 2,548
        Required clearing balances 2,548 0 - 158 2,548
        Adjustments to compensate for float 0 0 - 30 0
    Other 6,564 + 3,207 + 6,196 491
Funds from American International Group, Inc. asset
    dispositions, held as agent 6		 0 0 0 0
Other liabilities and capital 17 73,526 + 364 + 4,157 72,591
 
Total factors, other than reserve balances,
    absorbing reserve funds		 1,232,769 + 51,659 - 77,062 1,267,291
 
Reserve balances with Federal Reserve Banks 1,486,647 - 35,615 + 418,709 1,462,765
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 20, 2011
Week ended
Apr 20, 2011		 Change from week ended
Apr 13, 2011 Apr 21, 2010
Marketable securities held in custody for foreign
    official and international accounts 1		 3,418,552 + 743 + 362,328 3,423,059
    U.S. Treasury securities 2,661,100 + 6,181 + 390,299 2,662,765
    Federal agency securities 2 757,452 - 5,438 - 27,971 760,294
Securities lent to dealers 20,696 - 3,775 + 14,747 12,124
    Overnight facility 3 20,696 - 3,775 + 14,747 12,124
        U.S. Treasury securities 19,662 - 3,620 + 14,878 11,306
        Federal agency debt securities 1,034 - 156 - 131 818
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 20, 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 16 0 29 17,574 0 ... 17,619
U.S. Treasury securities 2  
    Holdings 20,887 16,453 82,277 591,158 505,786 185,933 1,402,494
    Weekly changes + 5,154 - 8,402 + 13,905 + 5,675 + 8,794 + 2,673 + 27,799
Federal agency debt securities 3  
    Holdings 3,342 11,082 18,836 68,104 24,749 2,347 128,460
    Weekly changes - 2,428 + 1,034 + 244 + 883 - 2,161 0 - 2,428
Mortgage-backed securities 4  
    Holdings 0 0 0 20 23 933,180 933,222
    Weekly changes 0 0 0 0 0 - 3,932 - 3,933
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 56,064 0 ... ... ... ... 56,064
Term deposits 5,081 0 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 20, 2011
Mortgage-backed securities held outright 1 933,222
 
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 20, 2011
Net portfolio holdings of Maiden Lane LLC 1 24,312
 
Outstanding principal amount of loan extended by the Federal Reserve Bank of New York 2 22,130
Accrued interest payable to the Federal Reserve Bank of New York 2 674
Outstanding principal amount and accrued interest on loan payable to JPMorgan Chase & Co. 3 1,335
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 20, 2011
Net portfolio holdings of Maiden Lane II LLC 1 15,872
 
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 2 501
Deferred payment and accrued interest payable to subsidiaries of American International Group, Inc. 3 1,082
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 20, 2011
Net portfolio holdings of Maiden Lane III LLC 1 23,039
 
Outstanding principal amount of loan extended by the Federal Reserve Bank of New York 2 12,328
Accrued interest payable to the Federal Reserve Bank of New York 2 595
Outstanding principal amount and accrued interest on loan payable to American International Group, Inc. 3 5,418
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 20, 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 20, 2011		 Change since
Wednesday
Apr 13, 2011		 Wednesday
Apr 21, 2010
Assets  
    Gold certificate account   11,037 0 0
    Special drawing rights certificate account   5,200 0 0
    Coin   2,204 + 25 + 109
    Securities, repurchase agreements, term auction
        credit, and other loans		   2,481,795 + 21,202 + 355,824
        Securities held outright 1   2,464,176 + 21,438 + 416,629
            U.S. Treasury securities   1,402,494 + 27,799 + 625,780
                Bills 2   18,423 0 0
                Notes and bonds, nominal 2   1,320,801 + 30,975 + 608,543
                Notes and bonds, inflation-indexed 2   56,565 - 2,921 + 15,674
                Inflation compensation 3   6,706 - 254 + 1,563
            Federal agency debt securities 2   128,460 - 2,428 - 40,443
            Mortgage-backed securities 4   933,222 - 3,933 - 168,707
        Repurchase agreements 5   0 0 0
        Term auction credit   0 0 0
        Other loans   17,619 - 236 - 60,805
    Net portfolio holdings of Commercial Paper
        Funding Facility LLC 6		   0 0 - 7,821
    Net portfolio holdings of Maiden Lane LLC 7   24,312 - 1,300 - 3,262
    Net portfolio holdings of Maiden Lane II LLC 8   15,872 + 25 + 673
    Net portfolio holdings of Maiden Lane III LLC 9   23,039 - 12 + 993
    Net portfolio holdings of TALF LLC 10   718 0 + 279
    Preferred interests in AIA Aurora LLC and ALICO
        Holdings LLC 11		   0 0 - 25,416
    Items in process of collection (100) 214 + 84 + 14
    Bank premises   2,215 + 2 - 24
    Central bank liquidity swaps 12   0 0 0
    Other assets 13   123,346 + 344 + 27,569
 
Total assets (100) 2,689,952 + 20,369 + 348,937
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 20, 2011		 Change since
Wednesday
Apr 13, 2011		 Wednesday
Apr 21, 2010
Liabilities  
    Federal Reserve notes, net of F.R. Bank holdings   970,580 + 796 + 75,820
    Reverse repurchase agreements 14   56,064 + 2,042 + 3,986
    Deposits (0) 1,589,177 + 17,895 + 265,555
        Term deposits held by depository institutions   5,081 0 + 5,081
        Other deposits held by depository institutions   1,465,320 - 68,874 + 406,026
        U.S. Treasury, general account   113,160 + 88,388 + 51,414
        U.S. Treasury, supplementary financing account   5,000 0 - 194,961
        Foreign official   125 + 2 - 2,108
        Other (0) 491 - 1,621 + 102
    Deferred availability cash items (100) 1,539 - 123 - 772
    Other liabilities and accrued dividends 15   20,036 - 215 + 5,652
 
Total liabilities (100) 2,637,397 + 20,396 + 350,243
 
Capital accounts  
    Capital paid in   26,278 - 13 + 50
    Surplus   26,278 - 13 + 689
    Other capital accounts   0 0 - 2,044
 
Total capital   52,555 - 27 - 1,305
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 20, 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 11,037 390 3,866 432 450 872 1,394 854 319 197 318 728 1,217
    Special drawing rights certificate acct. 5,200 196 1,818 210 237 412 654 424 150 90 153 282 574
    Coin 2,204 56 85 168 167 363 180 338 31 61 165 224 366
    Securities, repurchase agreements,
        term auction credit, and other
        loans		 2,481,795 60,585 1,163,550 84,413 66,562 284,587 183,193 146,343 46,645 37,873 65,548 97,458 245,036
        Securities held outright 1 2,464,176 60,585 1,145,948 84,413 66,562 284,587 183,193 146,336 46,640 37,871 65,548 97,458 245,034
            U.S. Treasury securities 1,402,494 34,482 652,220 48,044 37,884 161,974 104,265 83,288 26,545 21,554 37,307 55,469 139,462
                Bills 2 18,423 453 8,567 631 498 2,128 1,370 1,094 349 283 490 729 1,832
                Notes and bonds 3 1,384,071 34,029 643,652 47,413 37,387 159,846 102,895 82,194 26,196 21,271 36,817 54,740 137,630
            Federal agency debt securities 2 128,460 3,158 59,739 4,401 3,470 14,836 9,550 7,629 2,431 1,974 3,417 5,081 12,774
            Mortgage-backed securities 4 933,222 22,945 433,988 31,969 25,208 107,778 69,378 55,420 17,663 14,342 24,824 36,909 92,798
        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 17,619 0 17,603 1 0 0 0 7 5 2 0 0 2
    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		 24,312 0 24,312 0 0 0 0 0 0 0 0 0 0
    Net portfolio holdings of Maiden
        Lane II LLC 8		 15,872 0 15,872 0 0 0 0 0 0 0 0 0 0
    Net portfolio holdings of Maiden
        Lane III LLC 9		 23,039 0 23,039 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 314 7 0 59 65 7 47 22 11 32 16 24 24
    Bank premises 2,215 125 256 68 139 238 217 208 136 107 263 246 212
    Central bank liquidity swaps 12 0 0 0 0 0 0 0 0 0 0 0 0 0
    Other assets 13 123,346 3,330 52,468 5,941 4,613 16,703 8,724 6,396 2,076 2,339 2,820 4,244 13,691
    Interdistrict settlement account 0 - 9,631 + 224,201 + 11,027 - 7,507 - 124,778 - 27,963 + 5,535 - 9,679 - 14,247 - 12,855 - 4,851 - 29,251
 
Total assets 2,690,052 55,057 1,510,186 102,319 64,726 178,405 166,447 160,120 39,689 26,452 56,427 98,356 231,869
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 20, 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 1,127,822 43,289 387,036 46,848 47,915 90,066 140,394 87,668 31,832 19,604 32,417 75,176 125,578
        Less: Notes held by F.R. Banks 157,241 4,581 44,371 5,028 7,332 12,423 22,505 12,555 4,127 5,375 3,712 11,163 24,071
            Federal Reserve notes, net 970,580 38,708 342,665 41,820 40,583 77,644 117,889 75,113 27,705 14,229 28,705 64,013 101,507
    Reverse repurchase agreements 14 56,064 1,378 26,072 1,921 1,514 6,475 4,168 3,329 1,061 862 1,491 2,217 5,575
    Deposits 1,589,177 12,818 1,111,081 53,349 18,129 82,278 40,624 79,703 10,208 9,153 25,395 30,888 115,552
        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		 1,465,320 12,797 990,005 52,095 18,114 81,353 40,615 79,451 10,125 9,116 25,383 30,877 115,389
        U.S. Treasury, general account 113,160 0 113,160 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 125 1 97 4 3 8 2 1 0 1 0 1 6
        Other 491 5 269 0 1 151 0 25 30 0 1 0 9
    Deferred availability cash items 1,639 63 0 245 208 79 99 107 57 364 88 97 233
    Interest on Federal Reserve notes due
        to U.S. Treasury 15		 1,668 37 742 60 54 206 129 92 31 39 43 63 171
    Other liabilities and accrued
        dividends 16		 18,368 218 14,211 306 301 857 527 444 186 167 195 302 655
 
Total liabilities 2,637,497 53,223 1,494,772 97,700 60,790 167,539 163,436 158,789 39,248 24,813 55,917 97,579 223,693
 
Capital  
    Capital paid in 26,278 917 7,707 2,309 1,968 5,433 1,505 666 220 820 255 389 4,088
    Surplus 26,278 917 7,707 2,309 1,968 5,433 1,505 666 220 820 255 389 4,088
    Other capital 0 0 0 0 0 0 0 0 0 0 0 0 0
 
Total liabilities and capital 2,690,052 55,057 1,510,186 102,319 64,726 178,405 166,447 160,120 39,689 26,452 56,427 98,356 231,869
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 20, 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 20, 2011
Federal Reserve notes outstanding 1,127,822
    Less: Notes held by F.R. Banks not subject to collateralization 157,241
        Federal Reserve notes to be collateralized 970,580
Collateral held against Federal Reserve notes 970,580
    Gold certificate account 11,037
    Special drawing rights certificate account 5,200
    U.S. Treasury, agency debt, and mortgage-backed securities pledged 1,2 954,344
    Other assets pledged 0
Memo:  
Total U.S. Treasury, agency debt, and mortgage-backed securities 1,2 2,464,176
    Less: Face value of securities under reverse repurchase agreements 54,481
        U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 2,409,695
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 21, 2011