Federal Reserve Statistical Release, H.4.1, Factors Affecting Reserve Balances; title with eagle logo links to Statistical Release home page
Release Date:   June 30, 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 30, 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 29, 2011
Week ended
Jun 29, 2011		 Change from week ended
Jun 22, 2011 Jun 30, 2010
Reserve Bank credit 2,843,151 + 16,531 + 526,805 2,849,329
    Securities held outright 1 2,636,565 + 14,606 + 575,064 2,642,617
        U.S. Treasury securities 1,607,000 + 17,835 + 830,018 1,617,060
            Bills 2 18,423 0 0 18,423
            Notes and bonds, nominal 2 1,514,339 + 16,440 + 802,316 1,524,358
            Notes and bonds, inflation-indexed 2 65,296 + 1,101 + 24,171 65,296
            Inflation compensation 3 8,943 + 295 + 3,533 8,984
        Federal agency debt securities 2 117,584 - 781 - 47,665 116,704
        Mortgage-backed securities 4 911,980 - 2,449 - 207,291 908,853
    Repurchase agreements 5 0 0 0 0
    Loans 12,975 - 183 - 54,872 12,845
        Primary credit 18 - 2 - 144 17
        Secondary credit 0 - 1 - 79 0
        Seasonal credit 51 + 9 - 19 58
        Credit extended to American International
            Group, Inc., net 6		 0 0 - 24,857 0
        Term Asset-Backed Securities Loan Facility 7 12,906 - 190 - 29,775 12,769
        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 23,819 + 44 - 4,610 23,849
    Net portfolio holdings of Maiden Lane II LLC 10 12,514 + 7 - 3,199 12,538
    Net portfolio holdings of Maiden Lane III LLC 11 24,239 + 8 + 1,039 24,244
    Net portfolio holdings of TALF LLC 12 757 + 8 + 251 757
    Preferred interests in AIA Aurora LLC and ALICO
        Holdings LLC 6		 0 0 - 25,461 0
    Float -1,039 - 28 + 625 -1,240
    Central bank liquidity swaps 13 0 0 - 1,245 0
    Other Federal Reserve assets 14 133,321 + 2,070 + 39,215 133,719
Gold stock 11,041 0 0 11,041
Special drawing rights certificate account 5,200 0 0 5,200
Treasury currency outstanding 15 43,966 + 14 + 761 43,966
 
Total factors supplying reserve funds 2,903,357 + 16,545 + 527,565 2,909,535
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 29, 2011
Week ended
Jun 29, 2011		 Change from week ended
Jun 22, 2011 Jun 30, 2010
Currency in circulation 15 1,023,975 + 1,308 + 82,565 1,027,497
Reverse repurchase agreements 16 65,327 + 2,423 + 403 66,607
    Foreign official and international accounts 65,327 + 2,423 + 403 66,607
    Others 0 0 0 0
Treasury cash holdings 130 - 2 - 99 147
Deposits with F.R. Banks, other than reserve balances 121,959 - 14,675 - 131,533 121,841
    Term deposits held by depository institutions 5,087 0 + 3,935 5,087
    U.S. Treasury, general account 107,983 - 14,952 + 67,871 105,582
    U.S. Treasury, supplementary financing account 5,000 0 - 194,965 5,000
    Foreign official 189 - 24 - 1,600 126
    Service-related 2,535 - 2 + 61 2,535
        Required clearing balances 2,535 - 2 + 61 2,535
        Adjustments to compensate for float 0 0 0 0
    Other 1,166 + 304 - 6,832 3,511
Funds from American International Group, Inc. asset
    dispositions, held as agent 6		 0 0 0 0
Other liabilities and capital 17 74,577 + 598 + 2,221 73,593
 
Total factors, other than reserve balances,
    absorbing reserve funds		 1,285,969 - 10,347 - 46,443 1,289,685
 
Reserve balances with Federal Reserve Banks 1,617,388 + 26,892 + 574,008 1,619,850
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 29, 2011
Week ended
Jun 29, 2011		 Change from week ended
Jun 22, 2011 Jun 30, 2010
Marketable securities held in custody for foreign
    official and international accounts 1		 3,445,002 - 14,584 + 347,302 3,440,515
    U.S. Treasury securities 2,706,688 - 16,491 + 433,738 2,702,154
    Federal agency securities 2 738,313 + 1,905 - 86,437 738,361
Securities lent to dealers 29,527 + 1,143 + 22,247 37,196
    Overnight facility 3 29,527 + 1,143 + 22,247 37,196
        U.S. Treasury securities 28,839 + 1,214 + 23,193 36,392
        Federal agency debt securities 688 - 70 - 945 804
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 29, 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 67 9 1,240 11,529 0 ... 12,845
U.S. Treasury securities 2  
    Holdings 19,417 10,966 100,519 703,587 585,665 196,906 1,617,060
    Weekly changes + 3,867 - 3,867 + 6 + 8,867 + 4,962 + 1,261 + 15,097
Federal agency debt securities 3  
    Holdings 1,634 6,802 16,784 66,388 22,749 2,347 116,704
    Weekly changes - 1,661 0 0 0 0 0 - 1,661
Mortgage-backed securities 4  
    Holdings 0 0 0 17 23 908,814 908,853
    Weekly changes 0 0 0 0 0 - 5,472 - 5,473
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 66,607 0 ... ... ... ... 66,607
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 29, 2011
Mortgage-backed securities held outright 1 908,853
 
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 29, 2011
Net portfolio holdings of Maiden Lane LLC 1 23,849
 
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 2 706
Outstanding principal amount and accrued interest on loan payable to JPMorgan Chase & Co. 3 1,349
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 29, 2011
Net portfolio holdings of Maiden Lane II LLC 1 12,538
 
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 2 525
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 29, 2011
Net portfolio holdings of Maiden Lane III LLC 1 24,244
 
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 2 625
Outstanding principal amount and accrued interest on loan payable to American International Group, Inc. 3 5,452
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 29, 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 29, 2011		 Change since
Wednesday
Jun 22, 2011		 Wednesday
Jun 30, 2010
Assets  
    Gold certificate account   11,037 0 0
    Special drawing rights certificate account   5,200 0 0
    Coin   2,114 - 12 + 139
    Securities, repurchase agreements, and loans   2,655,462 + 7,786 + 527,759
        Securities held outright 1   2,642,617 + 7,963 + 582,739
            U.S. Treasury securities   1,617,060 + 15,097 + 840,071
                Bills 2   18,423 0 0
                Notes and bonds, nominal 2   1,524,358 + 14,986 + 812,335
                Notes and bonds, inflation-indexed 2   65,296 0 + 24,171
                Inflation compensation 3   8,984 + 111 + 3,567
            Federal agency debt securities 2   116,704 - 1,661 - 48,058
            Mortgage-backed securities 4   908,853 - 5,473 - 209,274
        Repurchase agreements 5   0 0 0
        Loans   12,845 - 177 - 54,980
    Net portfolio holdings of Commercial Paper
        Funding Facility LLC 6		   0 0 - 1
    Net portfolio holdings of Maiden Lane LLC 7   23,849 + 35 - 4,649
    Net portfolio holdings of Maiden Lane II LLC 8   12,538 + 28 - 3,225
    Net portfolio holdings of Maiden Lane III LLC 9   24,244 + 6 + 1,036
    Net portfolio holdings of TALF LLC 10   757 0 + 251
    Preferred interests in AIA Aurora LLC and ALICO
        Holdings LLC 11		   0 0 - 25,733
    Items in process of collection (158) 238 - 23 - 26
    Bank premises   2,210 0 - 25
    Central bank liquidity swaps 12   0 0 - 1,245
    Other assets 13   131,518 + 984 + 40,590
 
Total assets (158) 2,869,167 + 8,805 + 534,871
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 29, 2011		 Change since
Wednesday
Jun 22, 2011		 Wednesday
Jun 30, 2010
Liabilities  
    Federal Reserve notes, net of F.R. Bank holdings   985,788 + 4,041 + 81,658
    Reverse repurchase agreements 14   66,607 + 1,254 - 616
    Deposits (0) 1,741,700 + 3,857 + 451,901
        Term deposits held by depository institutions   5,087 0 + 3,935
        Other deposits held by depository institutions   1,622,395 + 25,429 + 650,058
        U.S. Treasury, general account   105,582 - 24,112 + 17,967
        U.S. Treasury, supplementary financing account   5,000 0 - 194,965
        Foreign official   126 - 263 - 1,088
        Other (0) 3,511 + 2,804 - 24,005
    Deferred availability cash items (158) 1,478 + 98 - 734
    Other liabilities and accrued dividends 15   20,619 - 450 + 5,890
 
Total liabilities (158) 2,816,193 + 8,802 + 538,099
 
Capital accounts  
    Capital paid in   26,487 + 2 - 133
    Surplus   26,487 + 2 + 689
    Other capital accounts   0 0 - 3,784
 
Total capital   52,974 + 3 - 3,228
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 29, 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 2,114 49 68 160 153 350 180 326 34 60 162 214 357
    Securities, repurchase agreements,
        and loans		 2,655,462 64,977 1,241,701 90,528 71,383 305,196 196,463 156,942 50,026 40,645 70,308 104,516 262,778
        Securities held outright 1 2,642,617 64,973 1,228,930 90,526 71,383 305,195 196,459 156,933 50,017 40,613 70,295 104,516 262,778
            U.S. Treasury securities 1,617,060 39,758 752,002 55,394 43,680 186,754 120,216 96,030 30,606 24,852 43,015 63,955 160,798
                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 1,598,637 39,305 743,435 54,763 43,183 184,626 118,847 94,936 30,257 24,569 42,525 63,226 158,966
            Federal agency debt securities 2 116,704 2,869 54,272 3,998 3,152 13,478 8,676 6,931 2,209 1,794 3,104 4,616 11,605
            Mortgage-backed securities 4 908,853 22,345 422,656 31,134 24,550 104,963 67,567 53,973 17,202 13,968 24,176 35,945 90,375
        Repurchase agreements 5 0 0 0 0 0 0 0 0 0 0 0 0 0
        Loans 12,845 4 12,770 2 1 0 4 9 9 32 13 1 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		 23,849 0 23,849 0 0 0 0 0 0 0 0 0 0
    Net portfolio holdings of Maiden
        Lane II LLC 8		 12,538 0 12,538 0 0 0 0 0 0 0 0 0 0
    Net portfolio holdings of Maiden
        Lane III LLC 9		 24,244 0 24,244 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 396 28 0 78 83 8 20 38 6 46 16 18 55
    Bank premises 2,210 123 256 68 138 236 218 209 136 106 262 247 211
    Central bank liquidity swaps 12 0 0 0 0 0 0 0 0 0 0 0 0 0
    Other assets 13 131,518 3,526 56,237 6,233 4,831 17,663 9,349 6,879 2,219 2,470 3,032 4,565 14,513
    Interdistrict settlement account 0 - 10,855 + 255,303 + 2,516 - 5,518 - 83,915 - 43,976 - 7,033 - 11,552 - 19,778 - 17,456 - 11,503 - 46,232
 
Total assets 2,869,325 58,435 1,620,637 100,225 71,757 240,820 164,300 158,639 41,339 23,836 56,795 99,067 233,473
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 29, 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 1,144,078 43,215 386,045 47,120 54,686 92,641 139,658 89,831 33,594 19,445 32,082 75,249 130,511
        Less: Notes held by F.R. Banks 158,290 4,729 41,508 5,679 7,839 12,364 25,063 12,856 4,222 5,487 3,067 10,875 24,602
            Federal Reserve notes, net 985,788 38,486 344,537 41,441 46,847 80,276 114,594 76,976 29,372 13,958 29,015 64,374 105,910
    Reverse repurchase agreements 14 66,607 1,638 30,975 2,282 1,799 7,692 4,952 3,956 1,261 1,024 1,772 2,634 6,623
    Deposits 1,741,700 16,134 1,214,083 51,146 18,614 140,610 41,082 75,749 10,006 6,535 25,188 30,856 111,698
        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		 1,622,395 16,112 1,096,864 50,537 18,607 139,591 41,080 75,714 9,981 6,500 25,186 30,845 111,377
        U.S. Treasury, general account 105,582 0 105,582 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 126 1 98 4 3 8 2 1 0 1 0 1 6
        Other 3,511 3 3,382 0 1 70 0 23 25 0 1 0 5
    Deferred availability cash items 1,636 78 0 233 194 52 87 104 47 488 70 65 218
    Interest on Federal Reserve notes due
        to U.S. Treasury 15		 1,411 31 685 39 34 150 111 84 26 21 39 58 136
    Other liabilities and accrued
        dividends 16		 19,208 226 14,919 329 319 914 534 438 182 171 192 301 682
 
Total liabilities 2,816,350 56,592 1,605,199 95,470 67,807 229,694 161,360 157,306 40,894 22,196 56,275 98,288 225,267
 
Capital  
    Capital paid in 26,487 921 7,719 2,377 1,975 5,563 1,470 667 222 820 260 389 4,103
    Surplus 26,487 921 7,719 2,377 1,975 5,563 1,470 667 222 820 260 389 4,103
    Other capital 0 0 0 0 0 0 0 0 0 0 0 0 0
 
Total liabilities and capital 2,869,325 58,435 1,620,637 100,225 71,757 240,820 164,300 158,639 41,339 23,836 56,795 99,067 233,473
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 29, 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 29, 2011
Federal Reserve notes outstanding 1,144,078
    Less: Notes held by F.R. Banks not subject to collateralization 158,290
        Federal Reserve notes to be collateralized 985,788
Collateral held against Federal Reserve notes 985,788
    Gold certificate account 11,037
    Special drawing rights certificate account 5,200
    U.S. Treasury, agency debt, and mortgage-backed securities pledged 1,2 969,551
    Other assets pledged 0
Memo:  
Total U.S. Treasury, agency debt, and mortgage-backed securities 1,2 2,642,617
    Less: Face value of securities under reverse repurchase agreements 61,189
        U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 2,581,428
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 30, 2011