Federal Reserve Statistical Release, H.4.1, Factors Affecting Reserve Balances; title with eagle logo links to Statistical Release home page
Release Date:   July 28, 2011
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4:30 P.M. EDT
July 28, 2011

The weekly average values, shown in table 1, reflect the June 30, 2011, quarterly updates to the fair
values of the net portfolio holdings of Maiden Lane LLC, Maiden Lane II LLC, and Maiden Lane
III LLC, and the fair value adjustment of the Term Asset-Backed Securities Loan Facility, or TALF,
which is included in "Other Federal Reserve assets." The amounts for the first six days of this
reporting week are based on the values as of March 31, 2011, and the amounts for the last day of the
reporting week are based on the values as of June 30, 2011.


FEDERAL RESERVE statistical release

H.4.1

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

July 28, 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
Jul 27, 2011
Week ended
Jul 27, 2011		 Change from week ended
Jul 20, 2011 Jul 28, 2010
Reserve Bank credit 2,852,885 - 1,974 + 540,491 2,847,574
    Securities held outright 1 2,649,995 - 1,441 + 591,764 2,647,881
        U.S. Treasury securities 1,634,961 + 3,160 + 857,943 1,638,161
            Bills 2 18,423 0 0 18,423
            Notes and bonds, nominal 2 1,541,736 + 3,081 + 829,716 1,544,906
            Notes and bonds, inflation-indexed 2 65,521 0 + 24,392 65,521
            Inflation compensation 3 9,282 + 79 + 3,835 9,311
        Federal agency debt securities 2 113,807 - 820 - 45,574 112,435
        Mortgage-backed securities 4 901,226 - 3,782 - 220,605 897,285
    Repurchase agreements 5 0 0 0 0
    Loans 12,109 - 395 - 52,730 11,968
        Primary credit 2 - 4 - 9 5
        Secondary credit 0 0 - 1 0
        Seasonal credit 87 + 11 + 10 81
        Credit extended to American International
            Group, Inc., net 6		 0 0 - 23,775 0
        Term Asset-Backed Securities Loan Facility 7 12,020 - 402 - 28,955 11,881
        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 20,754 - 419 - 7,937 20,815
    Net portfolio holdings of Maiden Lane II LLC 10 11,285 - 169 - 4,359 10,225
    Net portfolio holdings of Maiden Lane III LLC 11 23,223 - 411 + 163 21,457
    Net portfolio holdings of TALF LLC 12 767 + 10 + 227 767
    Preferred interests in AIA Aurora LLC and ALICO
        Holdings LLC 6		 0 0 - 25,733 0
    Float -1,021 + 54 + 567 -1,255
    Central bank liquidity swaps 13 0 0 - 1,246 0
    Other Federal Reserve assets 14 135,774 + 798 + 39,776 135,718
Gold stock 11,041 0 0 11,041
Special drawing rights certificate account 5,200 0 0 5,200
Treasury currency outstanding 15 44,022 + 14 + 764 44,022
 
Total factors supplying reserve funds 2,913,147 - 1,961 + 541,253 2,907,837
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
Jul 27, 2011
Week ended
Jul 27, 2011		 Change from week ended
Jul 20, 2011 Jul 28, 2010
Currency in circulation 15 1,028,518 + 166 + 86,227 1,030,733
Reverse repurchase agreements 16 65,380 - 326 + 4,467 67,004
    Foreign official and international accounts 65,380 - 326 + 4,467 67,004
    Others 0 0 0 0
Treasury cash holdings 131 - 22 - 95 113
Deposits with F.R. Banks, other than reserve balances 93,989 - 17,364 - 156,454 85,570
    Term deposits held by depository institutions 0 0 - 4,241 0
    U.S. Treasury, general account 77,019 - 13,700 + 35,416 66,757
    U.S. Treasury, supplementary financing account 5,000 0 - 194,961 5,000
    Foreign official 142 0 - 1,637 125
    Service-related 2,530 0 + 62 2,530
        Required clearing balances 2,530 0 + 62 2,530
        Adjustments to compensate for float 0 0 0 0
    Other 9,298 - 3,664 + 8,907 11,158
Funds from American International Group, Inc. asset
    dispositions, held as agent 6		 0 0 0 0
Other liabilities and capital 17 72,314 - 164 - 487 68,620
 
Total factors, other than reserve balances,
    absorbing reserve funds		 1,260,332 - 17,710 - 66,343 1,252,040
 
Reserve balances with Federal Reserve Banks 1,652,815 + 15,749 + 607,596 1,655,796
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
Jul 27, 2011
Week ended
Jul 27, 2011		 Change from week ended
Jul 20, 2011 Jul 28, 2010
Marketable securities held in custody for foreign
    official and international accounts 1		 3,453,109 - 836 + 307,404 3,451,123
    U.S. Treasury securities 2,720,303 + 414 + 404,457 2,719,160
    Federal agency securities 2 732,805 - 1,251 - 97,054 731,963
Securities lent to dealers 16,322 + 1,911 + 12,317 19,688
    Overnight facility 3 16,322 + 1,911 + 12,317 19,688
        U.S. Treasury securities 15,780 + 1,972 + 12,840 18,911
        Federal agency debt securities 542 - 61 - 523 777
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, July 27, 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 75 12 1,620 10,261 0 ... 11,968
U.S. Treasury securities 2  
    Holdings 18,953 11,442 114,143 710,293 582,718 200,612 1,638,161
    Weekly changes + 3,868 - 3,867 + 8 + 13 + 3,142 + 906 + 4,068
Federal agency debt securities 3  
    Holdings 0 4,767 16,639 68,537 20,145 2,347 112,435
    Weekly changes - 1,601 0 0 0 0 0 - 1,601
Mortgage-backed securities 4  
    Holdings 0 0 0 16 22 897,247 897,285
    Weekly changes 0 0 0 0 - 1 - 6,896 - 6,897
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 67,004 0 ... ... ... ... 67,004
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
Jul 27, 2011
Mortgage-backed securities held outright 1 897,285
 
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
Jul 27, 2011
Net portfolio holdings of Maiden Lane LLC 1 20,815
 
Outstanding principal amount of loan extended by the Federal Reserve Bank of New York 2 17,693
Accrued interest payable to the Federal Reserve Bank of New York 2 717
Outstanding principal amount and accrued interest on loan payable to JPMorgan Chase & Co. 3 1,354
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 June 30, 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
Jul 27, 2011
Net portfolio holdings of Maiden Lane II LLC 1 10,225
 
Outstanding principal amount of loan extended by the Federal Reserve Bank of New York 2 6,971
Accrued interest payable to the Federal Reserve Bank of New York 2 532
Deferred payment and accrued interest payable to subsidiaries of American International Group, Inc. 3 1,091
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 June 30, 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
Jul 27, 2011
Net portfolio holdings of Maiden Lane III LLC 1 21,457
 
Outstanding principal amount of loan extended by the Federal Reserve Bank of New York 2 10,854
Accrued interest payable to the Federal Reserve Bank of New York 2 636
Outstanding principal amount and accrued interest on loan payable to American International Group, Inc. 3 5,465
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 June 30, 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
Jul 27, 2011
Asset-backed securities holdings 1 0
Other investments, net 767
Net portfolio holdings of TALF LLC 767
 
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
Jul 27, 2011		 Change since
Wednesday
Jul 20, 2011		 Wednesday
Jul 28, 2010
Assets  
    Gold certificate account   11,037 0 0
    Special drawing rights certificate account   5,200 0 0
    Coin   2,198 + 31 + 120
    Securities, repurchase agreements, and loans   2,659,848 - 4,994 + 541,800
        Securities held outright 1   2,647,881 - 4,430 + 594,005
            U.S. Treasury securities   1,638,161 + 4,068 + 861,140
                Bills 2   18,423 0 0
                Notes and bonds, nominal 2   1,544,906 + 3,989 + 832,886
                Notes and bonds, inflation-indexed 2   65,521 0 + 24,392
                Inflation compensation 3   9,311 + 79 + 3,861
            Federal agency debt securities 2   112,435 - 1,601 - 46,946
            Mortgage-backed securities 4   897,285 - 6,897 - 220,189
        Repurchase agreements 5   0 0 0
        Loans   11,968 - 563 - 52,204
    Net portfolio holdings of Commercial Paper
        Funding Facility LLC 6		   0 0 - 1
    Net portfolio holdings of Maiden Lane LLC 7   20,815 + 71 - 8,602
    Net portfolio holdings of Maiden Lane II LLC 8   10,225 - 1,236 - 5,945
    Net portfolio holdings of Maiden Lane III LLC 9   21,457 - 2,061 - 2,083
    Net portfolio holdings of TALF LLC 10   767 + 10 + 227
    Preferred interests in AIA Aurora LLC and ALICO
        Holdings LLC 11		   0 0 - 25,733
    Items in process of collection (230) 158 - 106 - 233
    Bank premises   2,202 + 1 - 29
    Central bank liquidity swaps 12   0 0 - 1,246
    Other assets 13   133,509 + 490 + 40,435
 
Total assets (230) 2,867,416 - 7,795 + 538,711
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
Jul 27, 2011		 Change since
Wednesday
Jul 20, 2011		 Wednesday
Jul 28, 2010
Liabilities  
    Federal Reserve notes, net of F.R. Bank holdings   989,019 + 1,395 + 85,685
    Reverse repurchase agreements 14   67,004 + 2,309 + 6,363
    Deposits (0) 1,741,360 - 8,457 + 452,215
        Term deposits held by depository institutions   0 0 - 4,241
        Other deposits held by depository institutions   1,658,319 + 31,122 + 607,429
        U.S. Treasury, general account   66,757 - 29,665 + 36,342
        U.S. Treasury, supplementary financing account   5,000 0 - 194,961
        Foreign official   125 - 53 - 3,098
        Other (0) 11,158 - 9,862 + 10,742
    Deferred availability cash items (230) 1,413 + 96 - 735
    Other liabilities and accrued dividends 15   16,947 - 3,138 + 1,627
 
Total liabilities (230) 2,815,743 - 7,795 + 545,154
 
Capital accounts  
    Capital paid in   25,836 0 - 829
    Surplus   25,836 0 + 14
    Other capital accounts   0 0 - 5,628
 
Total capital   51,672 - 1 - 6,444
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, July 27, 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 2,198 49 73 165 161 361 194 332 40 61 168 225 369
    Securities, repurchase agreements,
        and loans		 2,659,848 65,102 1,243,259 90,706 71,525 305,808 196,861 157,256 50,140 40,720 70,446 104,724 263,301
        Securities held outright 1 2,647,881 65,102 1,231,378 90,706 71,525 305,803 196,850 157,246 50,117 40,694 70,435 104,724 263,301
            U.S. Treasury securities 1,638,161 40,277 761,815 56,117 44,250 189,191 121,785 97,283 31,006 25,176 43,576 64,789 162,896
                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 1,619,738 39,824 753,248 55,486 43,752 187,063 120,416 96,189 30,657 24,893 43,086 64,061 161,064
            Federal agency debt securities 2 112,435 2,764 52,287 3,852 3,037 12,985 8,359 6,677 2,128 1,728 2,991 4,447 11,180
            Mortgage-backed securities 4 897,285 22,061 417,276 30,737 24,238 103,627 66,706 53,286 16,983 13,790 23,868 35,488 89,225
        Repurchase agreements 5 0 0 0 0 0 0 0 0 0 0 0 0 0
        Loans 11,968 0 11,881 0 0 5 10 11 23 26 11 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		 20,815 0 20,815 0 0 0 0 0 0 0 0 0 0
    Net portfolio holdings of Maiden
        Lane II LLC 8		 10,225 0 10,225 0 0 0 0 0 0 0 0 0 0
    Net portfolio holdings of Maiden
        Lane III LLC 9		 21,457 0 21,457 0 0 0 0 0 0 0 0 0 0
    Net portfolio holdings of TALF LLC 10 767 0 767 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 388 18 0 89 184 4 -76 36 6 45 14 20 48
    Bank premises 2,202 123 257 68 138 235 213 207 136 106 261 246 211
    Central bank liquidity swaps 12 0 0 0 0 0 0 0 0 0 0 0 0 0
    Other assets 13 133,509 3,584 57,089 6,296 4,911 17,929 9,480 6,988 2,264 2,510 3,081 4,636 14,741
    Interdistrict settlement account 0 + 17,673 + 235,566 + 3,259 - 4,192 - 97,911 - 40,309 - 18,316 - 9,161 - 20,493 - 19,119 + 1,183 - 48,179
 
Total assets 2,867,646 87,135 1,595,192 101,225 73,414 227,709 168,410 147,781 43,893 23,236 55,323 112,045 232,283
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, July 27, 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 1,149,943 43,030 384,027 46,814 55,067 95,445 139,757 90,644 34,142 19,379 32,071 75,203 134,363
        Less: Notes held by F.R. Banks 160,924 5,211 41,109 6,474 7,383 12,771 24,983 13,267 4,418 5,551 3,375 11,187 25,193
            Federal Reserve notes, net 989,019 37,818 342,919 40,340 47,684 82,674 114,774 77,377 29,723 13,828 28,696 64,016 109,170
    Reverse repurchase agreements 14 67,004 1,647 31,160 2,295 1,810 7,738 4,981 3,979 1,268 1,030 1,782 2,650 6,663
    Deposits 1,741,360 45,514 1,193,474 53,279 19,443 125,050 45,025 64,329 12,198 7,571 24,030 44,178 107,267
        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		 1,658,319 45,500 1,110,729 53,258 19,439 124,880 45,022 64,304 12,153 7,570 24,029 44,178 107,258
        U.S. Treasury, general account 66,757 0 66,757 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 11,158 12 10,891 18 1 162 0 24 45 0 1 0 4
    Deferred availability cash items 1,643 68 0 252 198 136 77 101 46 404 71 71 217
    Interest on Federal Reserve notes due
        to U.S. Treasury 15		 -672 43 -1,635 75 61 221 122 96 24 37 40 60 186
    Other liabilities and accrued
        dividends 16		 17,619 201 13,838 265 267 764 490 416 182 147 185 291 574
 
Total liabilities 2,815,973 85,292 1,579,756 96,506 69,464 216,583 165,469 146,298 43,442 23,016 54,804 111,266 224,077
 
Capital  
    Capital paid in 25,836 921 7,718 2,359 1,975 5,563 1,471 742 226 110 259 389 4,103
    Surplus 25,836 921 7,718 2,359 1,975 5,563 1,471 742 226 110 259 389 4,103
    Other capital 0 0 0 0 0 0 0 0 0 0 0 0 0
 
Total liabilities and capital 2,867,646 87,135 1,595,192 101,225 73,414 227,709 168,410 147,781 43,893 23,236 55,323 112,045 232,283
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, July 27, 2011 (continued)

1. 
Includes securities lent to dealers under the overnight securities lending facility; refer to table 1A.
2. 
Face value of the securities.
3. 
Includes the original face value of inflation-indexed securities and compensation that adjusts for the effect of inflation on the original face value of such securities.
4. 
Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. Current face value of the securities, which is the remaining principal balance of the underlying mortgages.
5. 
Cash value of agreements, which are collateralized by U.S. Treasury and federal agency securities.
6. 
Includes the book value of the commercial paper, net of amortized costs and related fees, and other investments held by the Commercial Paper Funding Facility LLC.
7. 
Refer to table 4 and the note on consolidation below.
8. 
Refer to table 5 and the note on consolidation below.
9. 
Refer to table 6 and the note on consolidation below.
10. 
Refer to table 7 and the note on consolidation below.
11. 
As a result of the closing of the AIG recapitalization plan on January 14, 2011, the Federal Reserve Bank of New York has been paid in full for its preferred interests in AIA Aurora LLC and ALICO Holdings LLC. A portion of the preferred interests was redeemed by AIG with the funds from AIG asset dispositions that were held as agent by the Federal Reserve.
12. 
Dollar value of foreign currency held under these agreements valued at the exchange rate to be used when the foreign currency is returned to the foreign central bank. This exchange rate equals the market exchange rate used when the foreign currency was acquired from the foreign central bank.
13. 
Includes other assets denominated in foreign currencies, which are revalued daily at market exchange rates and the fair value adjustment to credit extended by the Federal Reserve Bank of New York (FRBNY) to eligible borrowers through the Term Asset-Backed Securities Loan Facility. Before the closing of the AIG recapitalization plan on January 14, 2011, included accrued dividends on the FRBNY's preferred interests in AIA Aurora LLC and ALICO Holdings LLC.
14. 
Cash value of agreements, which are collateralized by U.S. Treasury securities, federal agency debt securities, and mortgage-backed securities.
15. 
Represents the estimated weekly remittances to U.S Treasury as interest on Federal Reserve notes or, in those cases where the Reserve Bank's net earnings are not sufficient to equate surplus to capital paid-in, the deferred asset for interest on Federal Reserve notes. The amount of any deferred asset, which is presented as a negative amount in this line, represents the amount of the Federal Reserve Bank's earnings that must be retained before remittances to the U.S. Treasury resume. The amounts on this line are calculated in accordance with Board of Governors policy, which requires the Federal Reserve Banks to remit residual earnings to the U.S. Treasury as interest on Federal Reserve notes after providing for the costs of operations, payment of dividends, and the amount necessary to equate surplus with capital paid-in.
16. 
Includes the liabilities of Maiden Lane LLC, Maiden Lane II LLC, Maiden Lane III LLC, and TALF LLC to entities other than the Federal Reserve Bank of New York, including liabilities that have recourse only to the portfolio holdings of these LLCs. Refer to table 4 through table 7 and the note on consolidation below. Before the closing of the AIG recapitalization plan on January 14, 2011, included funds from American International Group, Inc. asset dispositions, held as agent.


Note on consolidation:


The Federal Reserve Bank of New York (FRBNY) has extended loans to several limited liability companies under the authority of section 13(3) of the Federal Reserve Act. On June 26, 2008, a loan was extended to Maiden Lane LLC, which was formed to acquire certain assets of Bear Stearns. On November 25, 2008, a loan was extended to Maiden Lane III LLC, which was formed to purchase multi-sector collateralized debt obligations on which the Financial Products group of the American International Group, Inc. has written credit default swap contracts. On December 12, 2008, a loan was extended to Maiden Lane II LLC, which was formed to purchase residential mortgage-backed securities from the U.S. securities lending reinvestment portfolio of subsidiaries of American International Group, Inc. On November 25, 2008, the Federal Reserve Board authorized the FRBNY to extend credit to TALF LLC, which was formed to purchase and manage any asset-backed securities received by the FRBNY in connection with the decision of a borrower not to repay a loan extended under the Term Asset-Backed Securities Loan Facility.


The FRBNY is the primary beneficiary of TALF LLC, because of the two beneficiaries of the LLC, the FRBNY and the U.S. Treasury, the FRBNY is primarily responsible for directing the financial activities of TALF LLC. The FRBNY is the primary beneficiary of the other LLCs cited above because it will receive a majority of any residual returns of the LLCs and absorb a majority of any residual losses of the LLCs. Consistent with generally accepted accounting principles, the assets and liabilities of these LLCs have been consolidated with the assets and liabilities of the FRBNY in the preparation of the statements of condition shown on this release. As a consequence of the consolidation, the extensions of credit from the FRBNY to the LLCs are eliminated, the net assets of the LLCs appear as assets on the previous page (and in table 1 and table 8), and the liabilities of the LLCs to entities other than the FRBNY, including those with recourse only to the portfolio holdings of the LLCs, are included in other liabilities in this table (and table 1 and table 8).


10. Collateral Held against Federal Reserve Notes: Federal Reserve Agents' Accounts
Millions of dollars
Federal Reserve notes and collateral Wednesday
Jul 27, 2011
Federal Reserve notes outstanding 1,149,943
    Less: Notes held by F.R. Banks not subject to collateralization 160,924
        Federal Reserve notes to be collateralized 989,019
Collateral held against Federal Reserve notes 989,019
    Gold certificate account 11,037
    Special drawing rights certificate account 5,200
    U.S. Treasury, agency debt, and mortgage-backed securities pledged 1,2 972,782
    Other assets pledged 0
Memo:  
Total U.S. Treasury, agency debt, and mortgage-backed securities 1,2 2,647,881
    Less: Face value of securities under reverse repurchase agreements 61,038
        U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 2,586,843
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: July 28, 2011