Federal Reserve Statistical Release, H.4.1, Factors Affecting Reserve Balances; title with eagle logo links to Statistical Release home page
Release Date:   June 23, 2011
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FEDERAL RESERVE statistical release

H.4.1

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

June 23, 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
Jun 22, 2011
Week ended
Jun 22, 2011		 Change from week ended
Jun 15, 2011 Jun 23, 2010
Reserve Bank credit 2,826,620 + 16,874 + 498,578 2,840,610
    Securities held outright 1 2,621,959 + 16,730 + 550,873 2,634,654
        U.S. Treasury securities 1,589,165 + 20,302 + 812,202 1,601,963
            Bills 2 18,423 0 0 18,423
            Notes and bonds, nominal 2 1,497,899 + 19,230 + 785,876 1,509,372
            Notes and bonds, inflation-indexed 2 64,195 + 825 + 23,070 65,296
            Inflation compensation 3 8,648 + 247 + 3,256 8,873
        Federal agency debt securities 2 118,365 - 624 - 47,334 118,365
        Mortgage-backed securities 4 914,429 - 2,948 - 213,995 914,326
    Repurchase agreements 5 0 0 0 0
    Loans 13,158 - 124 - 56,267 13,022
        Primary credit 20 - 4 - 131 17
        Secondary credit 1 + 1 - 149 0
        Seasonal credit 42 + 3 - 30 48
        Credit extended to American International
            Group, Inc., net 6		 0 0 - 25,756 0
        Term Asset-Backed Securities Loan Facility 7 13,096 - 123 - 30,200 12,957
        Other credit extensions 0 0 0 0
    Net portfolio holdings of Commercial Paper
        Funding Facility LLC 8		 0 0 - 1 0
    Net portfolio holdings of Maiden Lane LLC 9 23,775 - 583 - 4,638 23,814
    Net portfolio holdings of Maiden Lane II LLC 10 12,507 - 21 - 3,194 12,510
    Net portfolio holdings of Maiden Lane III LLC 11 24,231 - 180 + 1,037 24,238
    Net portfolio holdings of TALF LLC 12 749 + 3 + 259 757
    Preferred interests in AIA Aurora LLC and ALICO
        Holdings LLC 6		 0 0 - 25,416 0
    Float -1,011 + 113 + 710 -1,119
    Central bank liquidity swaps 13 0 0 - 1,245 0
    Other Federal Reserve assets 14 131,251 + 934 + 36,459 132,734
Gold stock 11,041 0 0 11,041
Special drawing rights certificate account 5,200 0 0 5,200
Treasury currency outstanding 15 43,944 + 14 + 755 43,944
 
Total factors supplying reserve funds 2,886,804 + 16,887 + 499,332 2,900,795
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
Jun 22, 2011
Week ended
Jun 22, 2011		 Change from week ended
Jun 15, 2011 Jun 23, 2010
Currency in circulation 15 1,022,659 - 241 + 83,287 1,023,442
Reverse repurchase agreements 16 62,904 - 1,241 + 2,173 65,353
    Foreign official and international accounts 62,904 - 48 + 2,173 65,353
    Others 0 - 1,193 0 0
Treasury cash holdings 132 - 3 - 90 127
Deposits with F.R. Banks, other than reserve balances 136,634 + 78,404 - 117,626 143,413
    Term deposits held by depository institutions 5,087 0 + 3,935 5,087
    U.S. Treasury, general account 122,935 + 81,599 + 77,083 129,694
    U.S. Treasury, supplementary financing account 5,000 0 - 194,963 5,000
    Foreign official 213 + 81 - 2,020 389
    Service-related 2,537 - 4 + 63 2,537
        Required clearing balances 2,537 - 4 + 63 2,537
        Adjustments to compensate for float 0 0 0 0
    Other 862 - 3,271 - 1,722 707
Funds from American International Group, Inc. asset
    dispositions, held as agent 6		 0 0 0 0
Other liabilities and capital 17 73,979 - 327 + 1,426 74,039
 
Total factors, other than reserve balances,
    absorbing reserve funds		 1,296,308 + 76,593 - 30,830 1,306,375
 
Reserve balances with Federal Reserve Banks 1,590,496 - 59,706 + 530,162 1,594,420
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
Jun 22, 2011
Week ended
Jun 22, 2011		 Change from week ended
Jun 15, 2011 Jun 23, 2010
Marketable securities held in custody for foreign
    official and international accounts 1		 3,459,586 + 12,937 + 369,657 3,456,675
    U.S. Treasury securities 2,723,179 + 15,713 + 459,907 2,718,417
    Federal agency securities 2 736,408 - 2,775 - 90,249 738,258
Securities lent to dealers 28,384 + 8,171 + 24,971 34,678
    Overnight facility 3 28,384 + 8,171 + 24,971 34,678
        U.S. Treasury securities 27,625 + 8,190 + 25,401 33,951
        Federal agency debt securities 758 - 20 - 430 727
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, June 22, 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 61 4 1,259 11,699 0 ... 13,022
U.S. Treasury securities 2  
    Holdings 15,550 14,833 100,513 694,720 580,703 195,645 1,601,963
    Weekly changes - 2,504 + 2,504 + 8,505 + 2,157 + 15,083 + 280 + 26,024
Federal agency debt securities 3  
    Holdings 3,295 6,802 16,784 66,388 22,749 2,347 118,365
    Weekly changes + 1,634 - 126 + 260 - 1,768 0 0 0
Mortgage-backed securities 4  
    Holdings 0 0 0 17 23 914,286 914,326
    Weekly changes 0 0 0 0 0 - 180 - 180
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 65,353 0 ... ... ... ... 65,353
Term deposits 5,087 0 0 ... ... ... 5,087
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
Jun 22, 2011
Mortgage-backed securities held outright 1 914,326
 
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
Jun 22, 2011
Net portfolio holdings of Maiden Lane LLC 1 23,814
 
Outstanding principal amount of loan extended by the Federal Reserve Bank of New York 2 20,895
Accrued interest payable to the Federal Reserve Bank of New York 2 703
Outstanding principal amount and accrued interest on loan payable to JPMorgan Chase & Co. 3 1,348
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
Jun 22, 2011
Net portfolio holdings of Maiden Lane II LLC 1 12,510
 
Outstanding principal amount of loan extended by the Federal Reserve Bank of New York 2 8,059
Accrued interest payable to the Federal Reserve Bank of New York 2 523
Deferred payment and accrued interest payable to subsidiaries of American International Group, Inc. 3 1,088
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
Jun 22, 2011
Net portfolio holdings of Maiden Lane III LLC 1 24,238
 
Outstanding principal amount of loan extended by the Federal Reserve Bank of New York 2 11,699
Accrued interest payable to the Federal Reserve Bank of New York 2 622
Outstanding principal amount and accrued interest on loan payable to American International Group, Inc. 3 5,449
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
Jun 22, 2011
Asset-backed securities holdings 1 0
Other investments, net 757
Net portfolio holdings of TALF LLC 757
 
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 3 108
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
Jun 22, 2011		 Change since
Wednesday
Jun 15, 2011		 Wednesday
Jun 23, 2010
Assets  
    Gold certificate account   11,037 0 0
    Special drawing rights certificate account   5,200 0 0
    Coin   2,126 + 8 + 134
    Securities, repurchase agreements, and loans   2,647,676 + 25,633 + 508,056
        Securities held outright 1   2,634,654 + 25,844 + 563,410
            U.S. Treasury securities   1,601,963 + 26,024 + 824,993
                Bills 2   18,423 0 0
                Notes and bonds, nominal 2   1,509,372 + 23,666 + 797,349
                Notes and bonds, inflation-indexed 2   65,296 + 1,926 + 24,171
                Inflation compensation 3   8,873 + 432 + 3,474
            Federal agency debt securities 2   118,365 0 - 47,249
            Mortgage-backed securities 4   914,326 - 180 - 214,335
        Repurchase agreements 5   0 0 0
        Loans   13,022 - 210 - 55,354
    Net portfolio holdings of Commercial Paper
        Funding Facility LLC 6		   0 0 - 1
    Net portfolio holdings of Maiden Lane LLC 7   23,814 + 45 - 4,603
    Net portfolio holdings of Maiden Lane II LLC 8   12,510 + 3 - 3,195
    Net portfolio holdings of Maiden Lane III LLC 9   24,238 + 8 + 1,039
    Net portfolio holdings of TALF LLC 10   757 + 11 + 251
    Preferred interests in AIA Aurora LLC and ALICO
        Holdings LLC 11		   0 0 - 25,416
    Items in process of collection (159) 261 - 119 + 17
    Bank premises   2,210 + 2 - 26
    Central bank liquidity swaps 12   0 0 - 1,245
    Other assets 13   130,534 + 3,225 + 37,414
 
Total assets (159) 2,860,362 + 28,817 + 512,424
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
Jun 22, 2011		 Change since
Wednesday
Jun 15, 2011		 Wednesday
Jun 23, 2010
Liabilities  
    Federal Reserve notes, net of F.R. Bank holdings   981,747 - 616 + 82,012
    Reverse repurchase agreements 14   65,353 - 2,826 + 5,047
    Deposits (0) 1,737,843 + 31,565 + 423,395
        Term deposits held by depository institutions   5,087 0 + 3,935
        Other deposits held by depository institutions   1,596,966 + 27,737 + 534,618
        U.S. Treasury, general account   129,694 + 3,266 + 83,344
        U.S. Treasury, supplementary financing account   5,000 0 - 194,963
        Foreign official   389 + 258 - 1,935
        Other (0) 707 + 303 - 1,601
    Deferred availability cash items (159) 1,380 - 364 - 518
    Other liabilities and accrued dividends 15   21,069 + 1,044 + 5,415
 
Total liabilities (159) 2,807,391 + 28,801 + 515,350
 
Capital accounts  
    Capital paid in   26,485 + 7 + 240
    Surplus   26,485 + 7 + 693
    Other capital accounts   0 0 - 3,860
 
Total capital   52,971 + 16 - 2,926
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, June 22, 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 2,126 50 69 162 154 353 178 325 34 61 163 219 359
    Securities, repurchase agreements,
        and loans		 2,647,676 64,777 1,238,186 90,253 71,167 304,276 195,869 156,470 49,874 40,524 70,092 104,201 261,987
        Securities held outright 1 2,634,654 64,777 1,225,227 90,253 71,167 304,276 195,867 156,460 49,866 40,491 70,083 104,201 261,986
            U.S. Treasury securities 1,601,963 39,387 744,982 54,877 43,272 185,010 119,094 95,133 30,320 24,620 42,613 63,358 159,297
                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 1,583,540 38,934 736,414 54,246 42,775 182,883 117,724 94,039 29,972 24,337 42,123 62,629 157,465
            Federal agency debt securities 2 118,365 2,910 55,045 4,055 3,197 13,670 8,800 7,029 2,240 1,819 3,149 4,681 11,770
            Mortgage-backed securities 4 914,326 22,480 425,201 31,321 24,698 105,595 67,973 54,298 17,305 14,052 24,322 36,162 90,919
        Repurchase agreements 5 0 0 0 0 0 0 0 0 0 0 0 0 0
        Loans 13,022 0 12,959 0 0 0 3 10 8 33 9 1 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		 23,814 0 23,814 0 0 0 0 0 0 0 0 0 0
    Net portfolio holdings of Maiden
        Lane II LLC 8		 12,510 0 12,510 0 0 0 0 0 0 0 0 0 0
    Net portfolio holdings of Maiden
        Lane III LLC 9		 24,238 0 24,238 0 0 0 0 0 0 0 0 0 0
    Net portfolio holdings of TALF LLC 10 757 0 757 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 420 24 0 87 85 9 32 38 7 38 25 17 57
    Bank premises 2,210 124 256 68 138 237 218 207 136 106 262 246 211
    Central bank liquidity swaps 12 0 0 0 0 0 0 0 0 0 0 0 0 0
    Other assets 13 130,534 3,503 55,764 6,205 4,806 17,556 9,263 6,822 2,201 2,455 3,008 4,528 14,424
    Interdistrict settlement account 0 - 14,285 + 290,778 + 3,366 - 8,087 - 98,943 - 42,273 - 9,958 - 11,947 - 19,596 - 18,078 - 11,748 - 59,228
 
Total assets 2,860,521 54,777 1,652,055 100,784 68,949 224,773 165,335 155,182 40,775 23,875 55,943 98,473 219,600
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, June 22, 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 1,143,562 43,360 386,507 47,279 54,617 92,057 139,435 90,088 33,639 19,474 32,188 75,183 129,734
        Less: Notes held by F.R. Banks 161,815 4,909 41,889 6,021 8,395 12,677 25,038 13,455 4,392 5,518 3,235 11,196 25,091
            Federal Reserve notes, net 981,747 38,451 344,618 41,258 46,222 79,380 114,397 76,633 29,248 13,956 28,952 63,988 104,643
    Reverse repurchase agreements 14 65,353 1,607 30,392 2,239 1,765 7,548 4,858 3,881 1,237 1,004 1,738 2,585 6,499
    Deposits 1,737,843 12,533 1,245,834 51,921 16,419 125,577 42,331 72,685 9,574 6,756 24,403 30,675 99,137
        Term deposits held by depository
            institutions		 5,087 18 3,157 605 3 941 0 10 0 33 1 10 310
        Other deposits held by depository
            institutions		 1,596,966 12,511 1,107,067 51,312 16,412 124,554 42,286 72,651 9,573 6,722 24,401 30,664 98,816
        U.S. Treasury, general account 129,694 0 129,694 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 389 1 361 4 3 8 2 1 0 1 0 1 6
        Other 707 3 556 0 1 75 43 23 0 0 1 0 5
    Deferred availability cash items 1,539 74 0 253 214 55 87 104 49 315 89 73 228
    Interest on Federal Reserve notes due
        to U.S. Treasury 15		 2,014 51 938 37 67 196 194 115 37 34 50 76 219
    Other liabilities and accrued
        dividends 16		 19,054 219 14,837 322 313 891 528 431 186 169 191 299 669
 
Total liabilities 2,807,550 52,935 1,636,620 96,029 64,999 213,646 162,395 153,849 40,330 22,235 55,423 97,694 211,394
 
Capital  
    Capital paid in 26,485 921 7,717 2,377 1,975 5,563 1,470 666 222 820 260 389 4,103
    Surplus 26,485 921 7,717 2,377 1,975 5,563 1,470 666 222 820 260 389 4,103
    Other capital 0 0 0 0 0 0 0 0 0 0 0 0 0
 
Total liabilities and capital 2,860,521 54,777 1,652,055 100,784 68,949 224,773 165,335 155,182 40,775 23,875 55,943 98,473 219,600
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, June 22, 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
Jun 22, 2011
Federal Reserve notes outstanding 1,143,562
    Less: Notes held by F.R. Banks not subject to collateralization 161,815
        Federal Reserve notes to be collateralized 981,747
Collateral held against Federal Reserve notes 981,747
    Gold certificate account 11,037
    Special drawing rights certificate account 5,200
    U.S. Treasury, agency debt, and mortgage-backed securities pledged 1,2 965,510
    Other assets pledged 0
Memo:  
Total U.S. Treasury, agency debt, and mortgage-backed securities 1,2 2,634,654
    Less: Face value of securities under reverse repurchase agreements 59,558
        U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 2,575,095
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: June 23, 2011