Federal Reserve Statistical Release, H.4.1, Factors Affecting Reserve Balances; title with eagle logo links to Statistical Release home page
Release Date:   May 12, 2011
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May 26, 2011

The Board's H.4.1 statistical release ("Factors Affecting Reserve Balances of Depository Institutions
and Condition Statement of Federal Reserve Banks") for May 12, 2011, understated the amount of
loans outstanding under the Term Asset-Backed Securities Loan Facility and other liabilities by $22.5
million due to the recording of a loan payment one day early. As a result, corrections to tables 1, 2,
8, and 9 have been made.

In table 1, the amount of loans outstanding under the "Term Asset-Backed Securities Loan Facility"
on Wednesday, May 11, 2011, was corrected from $15,308 million to $15,330 million, and the
related weekly average value was corrected from $15,703 million to $15,706 million. Also in table 1,
the amount of "Other liabilities and capital" on Wednesday, May 11, 2011, was corrected from
$72,735 million to $72,758 million, and the related weekly average value was corrected from $73,931
million to $73,934 million.

In table 2, the amount of "Loans" with remaining maturities of "Over 1 year to 5 years" was
corrected from $15,293 million to $15,316 million and the amount of "Loans" in the "All" maturity
category was corrected from $15,330 million to $15,353 million.

In tables 8 and 9, the total amount of "Loans" was corrected from $15,330 million to $15,353
million. In table 8, the amount of "Other liabilities and accrued dividends" was corrected from
$20,171 million to $20,194 million. In table 9, the total amount of "Other liabilities and accrued
dividends" was corrected from $19,007 million to $19,029 million. In table 9, the corrections also
affected the "New York" amounts for "Loans," which revised from $15,308 million to $15,330
million, and "Other liabilities and accrued dividends," which revised from $14,825 million to
$14,847 million.


FEDERAL RESERVE statistical release

H.4.1

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

May 12, 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
May 11, 2011
Week ended
May 11, 2011		 Change from week ended
May 4, 2011 May 12, 2010
Reserve Bank credit 2,713,079 + 26,136 + 403,272 2,728,751
    Securities held outright 1 2,503,309 + 25,896 + 460,842 2,518,349
        U.S. Treasury securities 1,451,169 + 25,895 + 674,393 1,466,209
            Bills 2 18,423 0 0 18,423
            Notes and bonds, nominal 2 1,365,856 + 24,065 + 653,833 1,380,842
            Notes and bonds, inflation-indexed 2 59,564 + 1,499 + 18,439 59,564
            Inflation compensation 3 7,327 + 332 + 2,123 7,381
        Federal agency debt securities 2 125,118 0 - 42,994 125,118
        Mortgage-backed securities 4 927,021 0 - 170,558 927,021
    Repurchase agreements 5 0 0 0 0
    Loans 15,727 - 881 - 61,459 15,353
        Primary credit 4 - 7 - 5,146 3
        Secondary credit 0 - 1 - 486 0
        Seasonal credit 17 + 5 - 26 20
        Credit extended to American International
            Group, Inc., net 6		 0 0 - 26,808 0
        Term Asset-Backed Securities Loan Facility 7 15,706 - 878 - 28,993 15,330
        Other credit extensions 0 0 0 0
    Net portfolio holdings of Commercial Paper
        Funding Facility LLC 8		 0 0 - 2 0
    Net portfolio holdings of Maiden Lane LLC 9 24,799 + 28 - 3,462 24,812
    Net portfolio holdings of Maiden Lane II LLC 10 14,972 - 1,116 - 867 14,985
    Net portfolio holdings of Maiden Lane III LLC 11 24,624 + 51 + 1,325 24,703
    Net portfolio holdings of TALF LLC 12 733 0 + 294 733
    Preferred interests in AIA Aurora LLC and ALICO
        Holdings LLC 6		 0 0 - 25,416 0
    Float -953 + 131 + 930 -1,032
    Central bank liquidity swaps 13 0 0 - 1,315 0
    Other Federal Reserve assets 14 129,869 + 2,028 + 32,402 130,850
Gold stock 11,041 0 0 11,041
Special drawing rights certificate account 5,200 0 0 5,200
Treasury currency outstanding 15 43,860 + 14 + 773 43,860
 
Total factors supplying reserve funds 2,773,180 + 26,151 + 404,045 2,788,852
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
May 11, 2011
Week ended
May 11, 2011		 Change from week ended
May 4, 2011 May 12, 2010
Currency in circulation 15 1,017,027 + 2,446 + 79,134 1,018,333
Reverse repurchase agreements 16 56,375 - 2,703 + 2,134 54,715
    Foreign official and international accounts 56,375 - 2,703 + 2,134 54,715
    Others 0 0 0 0
Treasury cash holdings 151 - 10 - 34 150
Deposits with F.R. Banks, other than reserve balances 108,624 - 21,313 - 133,035 98,773
    Term deposits held by depository institutions 0 - 5,081 0 0
    U.S. Treasury, general account 99,593 - 15,433 + 65,288 87,894
    U.S. Treasury, supplementary financing account 5,000 0 - 194,958 5,000
    Foreign official 136 + 4 - 1,344 124
    Service-related 2,546 + 1 - 119 2,546
        Required clearing balances 2,546 + 1 - 119 2,546
        Adjustments to compensate for float 0 0 0 0
    Other 1,349 - 804 - 1,902 3,209
Funds from American International Group, Inc. asset
    dispositions, held as agent 6		 0 0 0 0
Other liabilities and capital 17 73,934 - 1,941 + 3,239 72,758
 
Total factors, other than reserve balances,
    absorbing reserve funds		 1,256,111 - 23,521 - 48,562 1,244,728
 
Reserve balances with Federal Reserve Banks 1,517,069 + 49,672 + 452,607 1,544,124
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
May 11, 2011
Week ended
May 11, 2011		 Change from week ended
May 4, 2011 May 12, 2010
Marketable securities held in custody for foreign
    official and international accounts 1		 3,460,812 + 8,506 + 397,040 3,460,175
    U.S. Treasury securities 2,699,317 + 8,731 + 426,244 2,698,773
    Federal agency securities 2 761,495 - 225 - 29,204 761,402
Securities lent to dealers 17,308 - 511 + 14,076 15,768
    Overnight facility 3 17,308 - 511 + 14,076 15,768
        U.S. Treasury securities 16,446 - 546 + 14,395 15,009
        Federal agency debt securities 862 + 35 - 318 759
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, May 11, 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
Loans 1 6 16 15 15,316 0 ... 15,353
U.S. Treasury securities 2  
    Holdings 12,485 21,557 83,385 630,702 525,568 192,512 1,466,209
    Weekly changes - 3,520 + 3,520 + 8 + 13,595 + 7,916 + 2,834 + 24,354
Federal agency debt securities 3  
    Holdings 6,025 6,658 17,864 67,475 24,749 2,347 125,118
    Weekly changes + 783 - 783 0 0 0 0 0
Mortgage-backed securities 4  
    Holdings 0 0 0 19 23 926,980 927,021
    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 54,715 0 ... ... ... ... 54,715
Term deposits 0 0 0 ... ... ... 0
Note: Components may not sum to totals because of rounding.

. . . Not applicable.


1. 
Excludes the loans from the Federal Reserve Bank of New York (FRBNY) to Maiden Lane LLC, Maiden Lane II LLC, Maiden Lane III LLC, and TALF LLC. The loans were eliminated when preparing the FRBNY's statement of condition consistent with consolidation under generally accepted accounting principles.
2. 
Face value. For inflation-indexed securities, includes the original face value and compensation that adjusts for the effect of inflation on the original face value of such securities.
3. 
Face value.
4. 
Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. Current face value of the securities, which is the remaining principal balance of the underlying mortgages.
5. 
Face value of asset-backed securities held by TALF LLC, which is the remaining principal balance of the underlying assets.
6. 
Cash value of agreements.
7. 
Dollar value of foreign currency held under these agreements valued at the exchange rate to be used when the foreign currency is returned to the foreign central bank. This exchange rate equals the market exchange rate used when the foreign currency was acquired from the foreign central bank.

3. Supplemental Information on Mortgage-Backed Securities Purchase Program
Millions of dollars
Account name Wednesday
May 11, 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
Account name Wednesday
May 11, 2011
Net portfolio holdings of Maiden Lane LLC 1 24,812
 
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 2 683
Outstanding principal amount and accrued interest on loan payable to JPMorgan Chase & Co. 3 1,339
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
Account name Wednesday
May 11, 2011
Net portfolio holdings of Maiden Lane II LLC 1 14,985
 
Outstanding principal amount of loan extended by the Federal Reserve Bank of New York 2 10,542
Accrued interest payable to the Federal Reserve Bank of New York 2 509
Deferred payment and accrued interest payable to subsidiaries of American International Group, Inc. 3 1,084
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
Account name Wednesday
May 11, 2011
Net portfolio holdings of Maiden Lane III LLC 1 24,703
 
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 2 605
Outstanding principal amount and accrued interest on loan payable to American International Group, Inc. 3 5,429
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
Account name Wednesday
May 11, 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
Assets, liabilities, and capital Eliminations from
consolidation		 Wednesday
May 11, 2011		 Change since
Wednesday
May 4, 2011		 Wednesday
May 12, 2010
Assets  
    Gold certificate account   11,037 0 0
    Special drawing rights certificate account   5,200 0 0
    Coin   2,166 - 17 + 101
    Securities, repurchase agreements, and loans   2,533,701 + 23,429 + 413,807
        Securities held outright 1   2,518,349 + 24,354 + 475,091
            U.S. Treasury securities   1,466,209 + 24,354 + 689,417
                Bills 2   18,423 0 0
                Notes and bonds, nominal 2   1,380,842 + 22,527 + 668,819
                Notes and bonds, inflation-indexed 2   59,564 + 1,499 + 18,439
                Inflation compensation 3   7,381 + 328 + 2,161
            Federal agency debt securities 2   125,118 0 - 42,994
            Mortgage-backed securities 4   927,021 0 - 171,334
        Repurchase agreements 5   0 0 0
        Loans   15,353 - 924 - 61,283
    Net portfolio holdings of Commercial Paper
        Funding Facility LLC 6		   0 0 - 2
    Net portfolio holdings of Maiden Lane LLC 7   24,812 + 16 - 3,450
    Net portfolio holdings of Maiden Lane II LLC 8   14,985 + 15 - 856
    Net portfolio holdings of Maiden Lane III LLC 9   24,703 + 92 + 1,342
    Net portfolio holdings of TALF LLC 10   733 0 + 294
    Preferred interests in AIA Aurora LLC and ALICO
        Holdings LLC 11		   0 0 - 25,416
    Items in process of collection (99) 503 + 17 + 343
    Bank premises   2,210 + 2 - 27
    Central bank liquidity swaps 12   0 0 - 9,205
    Other assets 13   128,625 + 2,161 + 32,197
 
Total assets (99) 2,748,675 + 25,714 + 409,128
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
May 11, 2011		 Change since
Wednesday
May 4, 2011		 Wednesday
May 12, 2010
Liabilities  
    Federal Reserve notes, net of F.R. Bank holdings   976,785 + 1,061 + 78,104
    Reverse repurchase agreements 14   54,715 - 2,258 - 1,932
    Deposits (0) 1,642,882 + 28,007 + 332,040
        Term deposits held by depository institutions   0 - 5,081 0
        Other deposits held by depository institutions   1,546,654 + 71,175 + 453,809
        U.S. Treasury, general account   87,894 - 37,503 + 71,601
        U.S. Treasury, supplementary financing account   5,000 0 - 194,958
        Foreign official   124 - 4 - 1,289
        Other (0) 3,209 - 582 + 2,876
    Deferred availability cash items (99) 1,535 - 192 - 837
    Other liabilities and accrued dividends 15   20,194 - 911 + 3,984
 
Total liabilities (99) 2,696,111 + 25,708 + 411,358
 
Capital accounts  
    Capital paid in   26,282 + 3 - 104
    Surplus   26,282 + 3 + 668
    Other capital accounts   0 0 - 2,794
 
Total capital   52,564 + 6 - 2,230
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, May 11, 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 2,166 54 81 162 162 358 174 336 34 62 162 219 363
    Securities, repurchase agreements,
        and loans		 2,533,701 61,919 1,186,470 86,269 68,026 290,844 187,223 149,565 47,669 38,705 66,990 99,601 250,421
        Securities held outright 1 2,518,349 61,917 1,171,140 86,269 68,026 290,844 187,221 149,553 47,665 38,703 66,989 99,601 250,421
            U.S. Treasury securities 1,466,209 36,049 681,850 50,227 39,605 169,332 109,002 87,071 27,751 22,533 39,002 57,989 145,798
                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 1,447,786 35,596 673,283 49,595 39,108 167,205 107,632 85,977 27,402 22,250 38,512 57,260 143,966
            Federal agency debt securities 2 125,118 3,076 58,185 4,286 3,380 14,450 9,302 7,430 2,368 1,923 3,328 4,948 12,442
            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 15,353 2 15,330 0 0 0 2 12 4 2 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		 24,812 0 24,812 0 0 0 0 0 0 0 0 0 0
    Net portfolio holdings of Maiden
        Lane II LLC 8		 14,985 0 14,985 0 0 0 0 0 0 0 0 0 0
    Net portfolio holdings of Maiden
        Lane III LLC 9		 24,703 0 24,703 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 601 18 96 162 59 9 40 39 7 30 30 19 94
    Bank premises 2,210 124 255 68 138 238 217 207 136 107 263 246 212
    Central bank liquidity swaps 12 0 0 0 0 0 0 0 0 0 0 0 0 0
    Other assets 13 128,625 3,450 54,901 6,205 4,738 17,296 9,132 6,713 2,156 2,417 2,957 4,450 14,210
    Interdistrict settlement account 0 - 11,849 + 267,306 + 14,266 - 6,268 - 136,417 - 33,136 + 8,568 - 11,157 - 16,026 - 16,339 - 8,047 - 50,899
 
Total assets 2,748,773 54,303 1,580,025 107,773 67,541 173,611 165,698 166,708 39,313 25,580 54,533 97,498 216,190
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, May 11, 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 1,132,470 43,371 387,386 47,516 50,902 90,458 140,530 88,049 31,688 19,536 32,192 75,161 125,682
        Less: Notes held by F.R. Banks 155,684 4,749 42,184 5,538 7,536 12,314 22,314 12,770 4,172 5,441 3,583 11,314 23,768
            Federal Reserve notes, net 976,785 38,622 345,202 41,977 43,366 78,144 118,217 75,278 27,515 14,095 28,609 63,846 101,914
    Reverse repurchase agreements 14 54,715 1,345 25,445 1,874 1,478 6,319 4,068 3,249 1,036 841 1,455 2,164 5,441
    Deposits 1,642,882 12,197 1,178,404 58,743 18,243 77,277 39,700 86,233 10,051 8,442 23,632 30,274 99,689
        Term deposits held by depository
            institutions		 0 0 0 0 0 0 0 0 0 0 0 0 0
        Other deposits held by depository
            institutions		 1,546,654 12,193 1,082,264 58,738 18,239 77,149 39,697 86,212 10,050 8,440 23,630 30,273 99,769
        U.S. Treasury, general account 87,894 0 87,894 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 124 1 96 4 3 8 2 1 0 1 0 1 6
        Other 3,209 3 3,150 0 1 120 1 19 1 0 1 0 -86
    Deferred availability cash items 1,634 62 0 259 200 64 105 92 53 391 91 75 241
    Interest on Federal Reserve notes due
        to U.S. Treasury 15		 1,165 24 711 2 -3 63 87 86 25 7 36 57 69
    Other liabilities and accrued
        dividends 16		 19,029 217 14,847 309 308 875 523 439 188 166 194 303 660
 
Total liabilities 2,696,210 52,468 1,564,609 103,164 63,592 162,742 162,700 165,377 38,868 23,941 54,017 96,719 208,013
 
Capital  
    Capital paid in 26,282 917 7,708 2,304 1,974 5,435 1,499 665 222 820 258 389 4,089
    Surplus 26,282 917 7,708 2,304 1,974 5,435 1,499 665 222 820 258 389 4,089
    Other capital 0 0 0 0 0 0 0 0 0 0 0 0 0
 
Total liabilities and capital 2,748,773 54,303 1,580,025 107,773 67,541 173,611 165,698 166,708 39,313 25,580 54,533 97,498 216,190
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, May 11, 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
May 11, 2011
Federal Reserve notes outstanding 1,132,470
    Less: Notes held by F.R. Banks not subject to collateralization 155,684
        Federal Reserve notes to be collateralized 976,785
Collateral held against Federal Reserve notes 976,785
    Gold certificate account 11,037
    Special drawing rights certificate account 5,200
    U.S. Treasury, agency debt, and mortgage-backed securities pledged 1,2 960,549
    Other assets pledged 0
Memo:  
Total U.S. Treasury, agency debt, and mortgage-backed securities 1,2 2,518,349
    Less: Face value of securities under reverse repurchase agreements 50,582
        U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 2,467,767
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: May 12, 2011