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Release Date: April 28, 2011
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April 28, 2011
The weekly average values, shown in table 1, reflect the March 31, 2011, quarterly updates to the fair
values of the net portfolio holdings of Maiden Lane LLC, Maiden Lane II LLC, and Maiden Lane
III LLC, and the fair value adjustment of the Term Asset-Backed Securities Loan Facility, or TALF,
which is included in "Other Federal Reserve assets." The amounts for the first six days of this
reporting week are based on the values as of December 31, 2010, and the amounts for the last day of
the reporting week are based on the values as of March 31, 2011.
FEDERAL RESERVE statistical release
H.4.1
Factors Affecting Reserve Balances of Depository Institutions and
Condition Statement of Federal Reserve Banks
April 28, 2011
1. Factors Affecting Reserve Balances of Depository Institutions
Millions of dollars
Reserve Bank credit, related items, and Averages of daily figures Wednesday
reserve balances of depository institutions at Week ended Change from week ended Apr 27, 2011
Federal Reserve Banks Apr 27, 2011 Apr 20, 2011 Apr 28, 2010
Reserve Bank credit 2,671,770 + 12,446 + 355,466 2,675,152
Securities held outright (1) 2,464,929 + 10,898 + 419,547 2,466,674
U.S. Treasury securities 1,406,554 + 15,970 + 629,838 1,413,467
Bills (2) 18,423 0 0 18,423
Notes and bonds, nominal (2) 1,323,155 + 14,701 + 610,897 1,330,040
Notes and bonds, inflation-indexed (2) 58,065 + 1,083 + 17,174 58,065
Inflation compensation (3) 6,912 + 186 + 1,767 6,940
Federal agency debt securities (2) 127,810 - 1,703 - 41,093 126,186
Mortgage-backed securities (4) 930,565 - 3,369 - 169,198 927,021
Repurchase agreements (5) 0 0 0 0
Loans 17,207 - 411 - 60,870 16,798
Primary credit 9 + 4 - 5,981 13
Secondary credit 0 0 - 588 0
Seasonal credit 12 + 2 - 20 12
Credit extended to American International
Group, Inc., net (6) 0 0 - 25,812 0
Term Asset-Backed Securities Loan Facility (7) 17,186 - 417 - 28,470 16,774
Other credit extensions 0 0 0 0
Net portfolio holdings of Commercial Paper
Funding Facility LLC (8) 0 0 - 6,562 0
Net portfolio holdings of Maiden Lane LLC (9) 24,376 + 98 - 3,291 24,763
Net portfolio holdings of Maiden Lane II LLC (10) 15,968 + 117 + 646 16,541
Net portfolio holdings of Maiden Lane III LLC (11) 23,257 + 223 + 990 24,563
Net portfolio holdings of TALF LLC (12) 733 + 15 + 294 733
Preferred interests in AIA Aurora LLC and ALICO
Holdings LLC (6) 0 0 - 25,416 0
Float -962 + 308 + 809 -1,471
Central bank liquidity swaps (13) 0 0 0 0
Other Federal Reserve assets (14) 126,261 + 1,196 + 29,318 126,550
Gold stock 11,041 0 0 11,041
Special drawing rights certificate account 5,200 0 0 5,200
Treasury currency outstanding (15) 43,865 + 14 + 812 43,865
Total factors supplying reserve funds 2,731,876 + 12,460 + 356,277 2,735,258
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 Averages of daily figures Wednesday
reserve balances of depository institutions at Week ended Change from week ended Apr 27, 2011
Federal Reserve Banks Apr 27, 2011 Apr 20, 2011 Apr 28, 2010
Currency in circulation (15) 1,011,258 + 744 + 76,980 1,013,842
Reverse repurchase agreements (16) 56,811 + 877 + 4,134 57,031
Foreign official and international accounts 56,811 + 877 + 4,134 57,031
Others 0 0 0 0
Treasury cash holdings 188 - 17 - 28 163
Deposits with F.R. Banks, other than reserve balances 118,455 + 25,865 - 147,661 139,437
Term deposits held by depository institutions 5,081 0 + 5,081 5,081
U.S. Treasury, general account 104,152 + 30,884 + 46,990 126,185
U.S. Treasury, supplementary financing account 5,000 0 - 194,959 5,000
Foreign official 137 + 7 - 5,333 192
Service-related 2,546 - 2 - 116 2,546
Required clearing balances 2,546 - 2 - 116 2,546
Adjustments to compensate for float 0 0 0 0
Other 1,539 - 5,025 + 675 433
Funds from American International Group, Inc. asset
dispositions, held as agent (6) 0 0 0 0
Other liabilities and capital (17) 73,728 + 202 + 4,491 75,074
Total factors, other than reserve balances,
absorbing reserve funds 1,260,438 + 27,669 - 62,087 1,285,546
Reserve balances with Federal Reserve Banks 1,471,438 - 15,210 + 418,364 1,449,713
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
Averages of daily figures Wednesday
Week ended Change from week ended Apr 27, 2011
Memorandum item Apr 27, 2011 Apr 20, 2011 Apr 28, 2010
Marketable securities held in custody for foreign
official and international accounts (1) 3,435,649 + 17,097 + 374,553 3,447,017
U.S. Treasury securities 2,675,185 + 14,085 + 401,760 2,685,761
Federal agency securities (2) 760,464 + 3,012 - 27,207 761,256
Securities lent to dealers 10,103 - 10,593 + 4,176 15,409
Overnight facility (3) 10,103 - 10,593 + 4,176 15,409
U.S. Treasury securities 9,306 - 10,356 + 4,763 14,528
Federal agency debt securities 797 - 237 - 587 881
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 27, 2011
Millions of dollars
Within 15 16 days to 91 days to Over 1 year Over 5 years Over 10 All
Remaining maturity days 90 days 1 year to 5 years to 10 years years
Loans (1) 23 2 29 16,745 0 ... 16,798
U.S. Treasury securities (2)
Holdings 18,384 18,956 82,281 591,168 513,052 189,625 1,413,467
Weekly changes - 2,503 + 2,503 + 4 + 10 + 7,266 + 3,692 + 10,973
Federal agency debt securities (3)
Holdings 1,068 11,082 19,465 67,475 24,749 2,347 126,186
Weekly changes - 2,274 0 + 629 - 629 0 0 - 2,274
Mortgage-backed securities (4)
Holdings 0 0 0 19 22 926,980 927,021
Weekly changes 0 0 0 - 1 - 1 - 6,200 - 6,201
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) 57,031 0 ... ... ... ... 57,031
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
Wednesday
Account name Apr 27, 2011
Mortgage-backed securities held outright (1) 927,021
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
Wednesday
Account name Apr 27, 2011
Net portfolio holdings of Maiden Lane LLC (1) 24,763
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) 677
Outstanding principal amount and accrued interest on loan payable to JPMorgan Chase & Co. (3) 1,337
1. Fair value. Fair value reflects an estimate of the price that would be received upon selling an asset if the transaction were to
be conducted in an orderly market on the measurement date. Revalued quarterly. This table reflects valuations as of
March 31, 2011. 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
Wednesday
Account name Apr 27, 2011
Net portfolio holdings of Maiden Lane II LLC (1) 16,541
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) 504
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
March 31, 2011. 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
Wednesday
Account name Apr 27, 2011
Net portfolio holdings of Maiden Lane III LLC (1) 24,563
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) 599
Outstanding principal amount and accrued interest on loan payable to American International Group, Inc. (3) 5,422
1. Fair value. Fair value reflects an estimate of the price that would be received upon selling an asset if the transaction were to
be conducted in an orderly market on the measurement date. Revalued quarterly. This table reflects valuations as of
March 31, 2011. 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
Wednesday
Account name Apr 27, 2011
Asset-backed securities holdings (1) 0
Other investments, net 733
Net portfolio holdings of TALF LLC 733
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
Eliminations from Wednesday Change since
consolidation Apr 27, 2011 Wednesday Wednesday
Assets, liabilities, and capital Apr 20, 2011 Apr 28, 2010
Assets
Gold certificate account 11,037 0 0
Special drawing rights certificate account 5,200 0 0
Coin 2,217 + 13 + 103
Securities, repurchase agreements, and loans 2,483,472 + 1,677 + 363,065
Securities held outright (1) 2,466,674 + 2,498 + 424,637
U.S. Treasury securities 1,413,467 + 10,973 + 636,750
Bills (2) 18,423 0 0
Notes and bonds, nominal (2) 1,330,040 + 9,239 + 617,782
Notes and bonds, inflation-indexed (2) 58,065 + 1,500 + 17,174
Inflation compensation (3) 6,940 + 234 + 1,794
Federal agency debt securities (2) 126,186 - 2,274 - 42,717
Mortgage-backed securities (4) 927,021 - 6,201 - 169,395
Repurchase agreements (5) 0 0 0
Loans 16,798 - 821 - 61,572
Net portfolio holdings of Commercial Paper
Funding Facility LLC (6) 0 0 - 4,893
Net portfolio holdings of Maiden Lane LLC (7) 24,763 + 451 - 3,461
Net portfolio holdings of Maiden Lane II LLC (8) 16,541 + 669 + 481
Net portfolio holdings of Maiden Lane III LLC (9) 24,563 + 1,524 + 973
Net portfolio holdings of TALF LLC (10) 733 + 15 + 294
Preferred interests in AIA Aurora LLC and ALICO
Holdings LLC (11) 0 0 - 25,416
Items in process of collection (148) 138 - 76 - 59
Bank premises 2,217 + 2 - 21
Central bank liquidity swaps (12) 0 0 0
Other assets (13) 124,264 + 918 + 30,158
Total assets (148) 2,695,144 + 5,192 + 361,222
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
Eliminations from Wednesday Change since
consolidation Apr 27, 2011 Wednesday Wednesday
Assets, liabilities, and capital Apr 20, 2011 Apr 28, 2010
Liabilities
Federal Reserve notes, net of F.R. Bank holdings 972,352 + 1,772 + 77,013
Reverse repurchase agreements (14) 57,031 + 967 + 2,929
Deposits (0) 1,589,079 - 98 + 277,669
Term deposits held by depository institutions 5,081 0 + 5,081
Other deposits held by depository institutions 1,452,188 - 13,132 + 403,383
U.S. Treasury, general account 126,185 + 13,025 + 69,277
U.S. Treasury, supplementary financing account 5,000 0 - 194,959
Foreign official 192 + 67 - 5,201
Other (0) 433 - 58 + 87
Deferred availability cash items (148) 1,609 + 70 - 542
Other liabilities and accrued dividends (15) 22,503 + 2,467 + 7,078
Total liabilities (148) 2,642,573 + 5,176 + 364,145
Capital accounts
Capital paid in 26,285 + 7 + 51
Surplus 26,285 + 7 + 696
Other capital accounts 0 0 - 3,670
Total capital 52,571 + 16 - 2,922
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 27, 2011
Millions of dollars
Total Boston New York Philadelphia Cleveland Richmond Atlanta Chicago St. Louis Minneapolis Kansas Dallas San
Assets, liabilities, and capital City 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 2,217 56 86 167 165 363 179 342 33 63 164 226 372
Securities, repurchase agreements,
and loans 2,483,472 60,647 1,163,883 84,499 66,633 284,876 183,379 146,492 46,692 37,913 65,620 97,557 245,284
Securities held outright (1) 2,466,674 60,647 1,147,109 84,499 66,630 284,876 183,379 146,485 46,687 37,909 65,615 97,557 245,282
U.S. Treasury securities 1,413,467 34,752 657,323 48,420 38,181 163,241 105,081 83,939 26,753 21,723 37,599 55,903 140,553
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) 1,395,044 34,299 648,755 47,789 37,683 161,113 103,711 82,845 26,404 21,440 37,109 55,174 138,721
Federal agency debt securities (2) 126,186 3,102 58,682 4,323 3,409 14,573 9,381 7,494 2,388 1,939 3,357 4,991 12,548
Mortgage-backed securities (4) 927,021 22,792 431,105 31,756 25,041 107,062 68,917 55,052 17,546 14,247 24,659 36,664 92,182
Repurchase agreements (5) 0 0 0 0 0 0 0 0 0 0 0 0 0
Loans 16,798 0 16,774 0 3 0 0 7 5 4 5 0 1
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) 24,763 0 24,763 0 0 0 0 0 0 0 0 0 0
Net portfolio holdings of Maiden
Lane II LLC (8) 16,541 0 16,541 0 0 0 0 0 0 0 0 0 0
Net portfolio holdings of Maiden
Lane III LLC (9) 24,563 0 24,563 0 0 0 0 0 0 0 0 0 0
Net portfolio holdings of TALF LLC (10) 733 0 733 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 285 4 0 109 -58 6 50 18 12 95 17 18 15
Bank premises 2,217 125 256 68 139 237 217 209 136 107 263 247 212
Central bank liquidity swaps (12) 0 0 0 0 0 0 0 0 0 0 0 0 0
Other assets (13) 124,264 3,354 52,878 5,953 4,649 16,813 8,799 6,448 2,092 2,357 2,844 4,279 13,798
Interdistrict settlement account 0 - 7,119 + 263,960 + 9,977 - 9,720 - 135,584 - 28,874 + 3,458 - 10,407 - 15,175 - 17,373 - 7,021 - 46,121
Total assets 2,695,292 57,652 1,553,347 101,416 62,493 167,996 165,799 158,244 39,027 25,646 52,005 96,316 215,351
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 27, 2011 (continued)
Millions of dollars
Total Boston New York Philadelphia Cleveland Richmond Atlanta Chicago St. Louis Minneapolis Kansas Dallas San
Assets, liabilities, and capital City Francisco
Liabilities
Federal Reserve notes outstanding 1,129,543 43,129 387,437 47,323 48,721 89,996 140,775 87,738 31,748 19,562 32,221 75,099 125,795
Less: Notes held by F.R. Banks 157,192 4,442 44,371 5,274 7,173 12,588 22,411 12,526 4,082 5,313 3,803 11,103 24,107
Federal Reserve notes, net 972,352 38,688 343,066 42,048 41,548 77,408 118,364 75,212 27,666 14,249 28,419 63,996 101,688
Reverse repurchase agreements (14) 57,031 1,402 26,522 1,954 1,541 6,586 4,240 3,387 1,079 876 1,517 2,256 5,671
Deposits 1,589,079 15,418 1,150,853 52,154 14,926 72,024 39,449 77,697 9,578 8,106 21,240 28,853 98,780
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 1,452,188 15,399 1,016,696 50,900 14,911 71,115 39,440 77,444 9,526 8,070 21,228 28,842 98,617
U.S. Treasury, general account 126,185 0 126,185 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 192 1 164 4 3 8 2 1 0 1 0 1 6
Other 433 3 257 0 1 136 0 25 0 0 1 0 9
Deferred availability cash items 1,756 53 0 274 190 57 81 90 53 583 84 75 216
Interest on Federal Reserve notes due
to U.S. Treasury (15) 3,644 42 2,773 63 50 192 109 90 29 26 41 60 170
Other liabilities and accrued
dividends (16) 18,859 215 14,720 304 303 861 530 437 181 165 193 300 650
Total liabilities 2,642,721 55,818 1,537,933 96,797 58,557 157,129 162,774 156,912 38,586 24,006 51,494 95,539 207,175
Capital
Capital paid in 26,285 917 7,707 2,309 1,968 5,433 1,512 666 220 820 255 389 4,088
Surplus 26,285 917 7,707 2,309 1,968 5,433 1,512 666 220 820 255 389 4,088
Other capital 0 0 0 0 0 0 0 0 0 0 0 0 0
Total liabilities and capital 2,695,292 57,652 1,553,347 101,416 62,493 167,996 165,799 158,244 39,027 25,646 52,005 96,316 215,351
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 27, 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
Wednesday
Federal Reserve notes and collateral Apr 27, 2011
Federal Reserve notes outstanding 1,129,543
Less: Notes held by F.R. Banks not subject to collateralization 157,192
Federal Reserve notes to be collateralized 972,352
Collateral held against Federal Reserve notes 972,352
Gold certificate account 11,037
Special drawing rights certificate account 5,200
U.S. Treasury, agency debt, and mortgage-backed securities pledged (1,2) 956,115
Other assets pledged 0
Memo:
Total U.S. Treasury, agency debt, and mortgage-backed securities (1,2) 2,466,674
Less: Face value of securities under reverse repurchase agreements 55,270
U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 2,411,404
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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