Federal Reserve Statistical Release, H.4.1, Factors Affecting Reserve Balances; title with eagle logo links to Statistical Release home page
Release Date:   May 19, 2011
Release dates | Historical data | Data Download Program (DDP) | About | Announcements
Current release  Other formats: Screen reader | ASCII | PDF (21 KB)

Try data download now image link

FEDERAL RESERVE statistical release

H.4.1

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

May 19, 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 18, 2011
Week ended
May 18, 2011		 Change from week ended
May 11, 2011 May 19, 2010
Reserve Bank credit 2,739,486 + 26,410 + 400,074 2,742,438
    Securities held outright 1 2,532,391 + 29,082 + 466,862 2,539,503
        U.S. Treasury securities 1,483,595 + 32,426 + 706,776 1,495,166
            Bills 2 18,423 0 0 18,423
            Notes and bonds, nominal 2 1,397,662 + 31,806 + 685,639 1,407,998
            Notes and bonds, inflation-indexed 2 59,975 + 411 + 18,850 61,004
            Inflation compensation 3 7,535 + 208 + 2,288 7,742
        Federal agency debt securities 2 123,249 - 1,869 - 44,498 120,758
        Mortgage-backed securities 4 925,546 - 1,475 - 195,417 923,579
    Repurchase agreements 5 0 0 0 0
    Loans 15,018 - 706 - 61,214 14,980
        Primary credit 3 - 1 - 5,111 5
        Secondary credit 0 0 - 400 0
        Seasonal credit 18 + 1 - 26 17
        Credit extended to American International
            Group, Inc., net 6		 0 0 - 26,176 0
        Term Asset-Backed Securities Loan Facility 7 14,998 - 705 - 29,499 14,958
        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 24,463 - 336 - 3,806 24,419
    Net portfolio holdings of Maiden Lane II LLC 10 14,984 + 12 - 858 14,984
    Net portfolio holdings of Maiden Lane III LLC 11 24,411 - 213 + 1,048 24,374
    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 -997 - 44 + 897 -1,018
    Central bank liquidity swaps 13 0 0 - 9,205 0
    Other Federal Reserve assets 14 128,483 - 1,386 + 31,473 124,463
Gold stock 11,041 0 0 11,041
Special drawing rights certificate account 5,200 0 0 5,200
Treasury currency outstanding 15 43,874 + 14 + 786 43,874
 
Total factors supplying reserve funds 2,799,601 + 26,424 + 400,860 2,802,553
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 18, 2011
Week ended
May 18, 2011		 Change from week ended
May 11, 2011 May 19, 2010
Currency in circulation 15 1,017,282 + 255 + 79,464 1,017,923
Reverse repurchase agreements 16 55,630 - 745 - 696 57,426
    Foreign official and international accounts 55,630 - 745 - 696 57,426
    Others 0 0 0 0
Treasury cash holdings 148 - 3 - 39 140
Deposits with F.R. Banks, other than reserve balances 105,763 - 2,861 - 132,752 117,687
    Term deposits held by depository institutions 0 0 0 0
    U.S. Treasury, general account 91,448 - 8,145 + 70,289 109,620
    U.S. Treasury, supplementary financing account 5,000 0 - 194,959 5,000
    Foreign official 148 + 12 - 1,456 125
    Service-related 2,546 0 - 117 2,546
        Required clearing balances 2,546 0 - 117 2,546
        Adjustments to compensate for float 0 0 0 0
    Other 6,622 + 5,273 - 6,508 396
Funds from American International Group, Inc. asset
    dispositions, held as agent 6		 0 0 0 0
Other liabilities and capital 17 73,518 - 413 + 163 73,208
 
Total factors, other than reserve balances,
    absorbing reserve funds		 1,252,342 - 3,766 - 53,859 1,266,384
 
Reserve balances with Federal Reserve Banks 1,547,259 + 30,190 + 454,719 1,536,168
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 18, 2011
Week ended
May 18, 2011		 Change from week ended
May 11, 2011 May 19, 2010
Marketable securities held in custody for foreign
    official and international accounts 1		 3,442,611 - 18,201 + 385,977 3,449,047
    U.S. Treasury securities 2,700,352 + 1,035 + 438,867 2,704,040
    Federal agency securities 2 742,259 - 19,236 - 52,890 745,007
Securities lent to dealers 21,634 + 4,326 + 17,550 20,715
    Overnight facility 3 21,634 + 4,326 + 17,550 20,715
        U.S. Treasury securities 20,823 + 4,377 + 17,987 19,882
        Federal agency debt securities 811 - 51 - 438 833
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 18, 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 21 1 669 14,289 0 ... 14,980
U.S. Treasury securities 2  
    Holdings 23,900 12,347 89,579 648,661 532,102 188,577 1,495,166
    Weekly changes + 11,415 - 9,210 + 6,194 + 17,959 + 6,534 - 3,935 + 28,957
Federal agency debt securities 3  
    Holdings 1,665 8,433 16,494 69,070 22,749 2,347 120,758
    Weekly changes - 4,360 + 1,775 - 1,370 + 1,595 - 2,000 0 - 4,360
Mortgage-backed securities 4  
    Holdings 0 0 0 18 23 923,538 923,579
    Weekly changes 0 0 0 - 1 0 - 3,442 - 3,442
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 57,426 0 ... ... ... ... 57,426
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 18, 2011
Mortgage-backed securities held outright 1 923,579
 
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 18, 2011
Net portfolio holdings of Maiden Lane LLC 1 24,419
 
Outstanding principal amount of loan extended by the Federal Reserve Bank of New York 2 21,719
Accrued interest payable to the Federal Reserve Bank of New York 2 687
Outstanding principal amount and accrued interest on loan payable to JPMorgan Chase & Co. 3 1,341
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 18, 2011
Net portfolio holdings of Maiden Lane II LLC 1 14,984
 
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 2 512
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 18, 2011
Net portfolio holdings of Maiden Lane III LLC 1 24,374
 
Outstanding principal amount of loan extended by the Federal Reserve Bank of New York 2 11,985
Accrued interest payable to the Federal Reserve Bank of New York 2 607
Outstanding principal amount and accrued interest on loan payable to American International Group, Inc. 3 5,432
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 18, 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 18, 2011		 Change since
Wednesday
May 11, 2011		 Wednesday
May 19, 2010
Assets  
    Gold certificate account   11,037 0 0
    Special drawing rights certificate account   5,200 0 0
    Coin   2,149 - 17 + 107
    Securities, repurchase agreements, and loans   2,554,483 + 20,804 + 414,725
        Securities held outright 1   2,539,503 + 21,154 + 475,607
            U.S. Treasury securities   1,495,166 + 28,957 + 718,332
                Bills 2   18,423 0 0
                Notes and bonds, nominal 2   1,407,998 + 27,156 + 695,975
                Notes and bonds, inflation-indexed 2   61,004 + 1,440 + 19,879
                Inflation compensation 3   7,742 + 361 + 2,479
            Federal agency debt securities 2   120,758 - 4,360 - 46,819
            Mortgage-backed securities 4   923,579 - 3,442 - 195,906
        Repurchase agreements 5   0 0 0
        Loans   14,980 - 350 - 60,881
    Net portfolio holdings of Commercial Paper
        Funding Facility LLC 6		   0 0 - 2
    Net portfolio holdings of Maiden Lane LLC 7   24,419 - 393 - 3,889
    Net portfolio holdings of Maiden Lane II LLC 8   14,984 - 1 - 863
    Net portfolio holdings of Maiden Lane III LLC 9   24,374 - 329 + 1,002
    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 (70) 354 - 149 + 125
    Bank premises   2,210 0 - 28
    Central bank liquidity swaps 12   0 0 - 9,205
    Other assets 13   122,238 - 6,387 + 30,967
 
Total assets (70) 2,762,182 + 13,530 + 407,818
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 18, 2011		 Change since
Wednesday
May 11, 2011		 Wednesday
May 19, 2010
Liabilities  
    Federal Reserve notes, net of F.R. Bank holdings   976,334 - 451 + 78,766
    Reverse repurchase agreements 14   57,426 + 2,711 + 1,662
    Deposits (0) 1,653,841 + 10,959 + 326,130
        Term deposits held by depository institutions   0 0 0
        Other deposits held by depository institutions   1,538,699 - 7,955 + 442,960
        U.S. Treasury, general account   109,620 + 21,726 + 79,407
        U.S. Treasury, supplementary financing account   5,000 0 - 194,959
        Foreign official   125 + 1 - 1,353
        Other (0) 396 - 2,813 + 74
    Deferred availability cash items (70) 1,373 - 162 - 986
    Other liabilities and accrued dividends 15   20,610 + 439 + 4,669
 
Total liabilities (70) 2,709,584 + 13,496 + 410,242
 
Capital accounts  
    Capital paid in   26,299 + 17 - 124
    Surplus   26,299 + 17 + 663
    Other capital accounts   0 0 - 2,964
 
Total capital   52,597 + 33 - 2,425
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 18, 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 2,149 53 79 161 159 358 176 333 33 61 162 218 356
    Securities, repurchase agreements,
        and loans		 2,554,483 62,439 1,195,936 86,993 68,597 293,288 188,794 150,821 48,069 39,031 67,553 100,438 252,524
        Securities held outright 1 2,539,503 62,437 1,180,978 86,993 68,597 293,287 188,793 150,810 48,065 39,028 67,552 100,438 252,524
            U.S. Treasury securities 1,495,166 36,761 695,316 51,218 40,388 172,676 111,154 88,791 28,299 22,978 39,772 59,134 148,677
                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 1,476,743 36,308 686,749 50,587 39,890 170,549 109,785 87,697 27,950 22,695 39,282 58,405 146,845
            Federal agency debt securities 2 120,758 2,969 56,158 4,137 3,262 13,946 8,977 7,171 2,286 1,856 3,212 4,776 12,008
            Mortgage-backed securities 4 923,579 22,708 429,504 31,638 24,948 106,664 68,661 54,847 17,481 14,194 24,568 36,528 91,839
        Repurchase agreements 5 0 0 0 0 0 0 0 0 0 0 0 0 0
        Loans 14,980 1 14,958 0 0 1 1 11 4 3 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		 24,419 0 24,419 0 0 0 0 0 0 0 0 0 0
    Net portfolio holdings of Maiden
        Lane II LLC 8		 14,984 0 14,984 0 0 0 0 0 0 0 0 0 0
    Net portfolio holdings of Maiden
        Lane III LLC 9		 24,374 0 24,374 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 425 23 0 80 48 7 42 39 8 22 41 21 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 13 122,238 3,296 51,987 5,905 4,565 16,566 8,646 6,337 2,039 2,320 2,792 4,204 13,581
    Interdistrict settlement account 0 - 11,111 + 260,753 + 12,676 - 11,040 - 118,139 - 34,028 - 1,495 - 11,718 - 16,451 - 17,571 - 8,979 - 42,897
 
Total assets 2,762,252 55,409 1,579,204 106,525 63,155 193,601 165,894 157,521 39,036 25,377 53,710 97,158 225,661
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 18, 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 1,133,936 43,387 387,369 47,517 52,260 90,539 140,191 88,650 31,761 19,527 32,174 75,098 125,462
        Less: Notes held by F.R. Banks 157,602 4,854 41,912 5,633 8,018 12,464 22,455 13,038 4,264 5,553 3,552 11,423 24,436
            Federal Reserve notes, net 976,334 38,533 345,457 41,884 44,242 78,076 117,735 75,612 27,497 13,974 28,623 63,675 101,026
    Reverse repurchase agreements 14 57,426 1,412 26,706 1,967 1,551 6,632 4,269 3,410 1,087 883 1,528 2,271 5,710
    Deposits 1,653,841 13,322 1,175,989 57,480 12,890 96,918 40,159 76,543 9,738 8,363 22,723 29,997 109,717
        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		 1,538,699 13,318 1,061,033 57,476 12,886 96,789 40,157 76,523 9,737 8,361 22,722 29,996 109,701
        U.S. Treasury, general account 109,620 0 109,620 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 396 3 240 0 1 121 0 20 1 0 1 0 10
    Deferred availability cash items 1,443 54 0 218 179 60 85 91 52 331 85 71 216
    Interest on Federal Reserve notes due
        to U.S. Treasury 15		 1,442 32 681 33 34 169 116 90 30 19 39 62 139
    Other liabilities and accrued
        dividends 16		 19,168 221 14,941 316 310 880 531 445 187 167 195 304 671
 
Total liabilities 2,709,655 53,574 1,563,774 101,899 59,206 182,734 162,896 156,191 38,592 23,737 53,193 96,379 217,480
 
Capital  
    Capital paid in 26,299 918 7,715 2,313 1,974 5,433 1,499 665 222 820 258 390 4,090
    Surplus 26,299 918 7,715 2,313 1,974 5,433 1,499 665 222 820 258 390 4,090
    Other capital 0 0 0 0 0 0 0 0 0 0 0 0 0
 
Total liabilities and capital 2,762,252 55,409 1,579,204 106,525 63,155 193,601 165,894 157,521 39,036 25,377 53,710 97,158 225,661
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 18, 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 18, 2011
Federal Reserve notes outstanding 1,133,936
    Less: Notes held by F.R. Banks not subject to collateralization 157,602
        Federal Reserve notes to be collateralized 976,334
Collateral held against Federal Reserve notes 976,334
    Gold certificate account 11,037
    Special drawing rights certificate account 5,200
    U.S. Treasury, agency debt, and mortgage-backed securities pledged 1,2 960,097
    Other assets pledged 0
Memo:  
Total U.S. Treasury, agency debt, and mortgage-backed securities 1,2 2,539,503
    Less: Face value of securities under reverse repurchase agreements 53,583
        U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 2,485,920
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.

Release dates | Historical data | Data Download Program (DDP) | About | Announcements
Current release   Other formats: Screen reader | ASCII | PDF (21 KB)

Statistical releases

Home | Economic research and data
Accessibility | Contact Us
Last update: May 19, 2011