Federal Reserve Statistical Release, H.4.1, Factors Affecting Reserve Balances; title with eagle logo links to Statistical Release home page
Release Date:   August 11, 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

August 11, 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
Aug 10, 2011
Week ended
Aug 10, 2011		 Change from week ended
Aug 3, 2011 Aug 11, 2010
Reserve Bank credit 2,854,724 + 5,199 + 545,712 2,856,360
    Securities held outright 1 2,653,620 + 4,535 + 599,110 2,654,462
        U.S. Treasury securities 1,643,900 + 4,535 + 866,888 1,644,743
            Bills 2 18,423 0 0 18,423
            Notes and bonds, nominal 2 1,550,470 + 4,398 + 838,450 1,550,943
            Notes and bonds, inflation-indexed 2 65,643 + 122 + 24,514 65,948
            Inflation compensation 3 9,365 + 16 + 3,924 9,429
        Federal agency debt securities 2 112,435 0 - 46,946 112,435
        Mortgage-backed securities 4 897,285 0 - 220,832 897,285
    Repurchase agreements 5 0 0 0 0
    Loans 11,919 - 43 - 50,455 11,913
        Primary credit 6 - 4 - 8 10
        Secondary credit 0 0 - 1 0
        Seasonal credit 91 + 10 + 12 98
        Credit extended to American International
            Group, Inc., net 6		 0 0 - 23,512 0
        Term Asset-Backed Securities Loan Facility 7 11,821 - 50 - 26,947 11,804
        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 20,820 - 1 - 8,634 20,822
    Net portfolio holdings of Maiden Lane II LLC 10 10,063 - 116 - 5,895 10,064
    Net portfolio holdings of Maiden Lane III LLC 11 21,527 + 59 - 1,704 21,622
    Net portfolio holdings of TALF LLC 12 767 0 + 227 767
    Preferred interests in AIA Aurora LLC and ALICO
        Holdings LLC 6		 0 0 - 25,733 0
    Float -1,135 - 50 + 626 -1,291
    Central bank liquidity swaps 13 0 0 - 1,246 0
    Other Federal Reserve assets 14 137,143 + 815 + 39,416 138,001
Gold stock 11,041 0 0 11,041
Special drawing rights certificate account 5,200 0 0 5,200
Treasury currency outstanding 15 44,050 + 14 + 734 44,050
 
Total factors supplying reserve funds 2,915,014 + 5,213 + 546,445 2,916,650
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
Aug 10, 2011
Week ended
Aug 10, 2011		 Change from week ended
Aug 3, 2011 Aug 11, 2010
Currency in circulation 15 1,033,507 + 1,703 + 87,095 1,034,543
Reverse repurchase agreements 16 74,579 + 4,767 + 14,599 96,807
    Foreign official and international accounts 74,579 + 4,767 + 14,831 96,807
    Others 0 0 - 231 0
Treasury cash holdings 127 + 11 - 72 113
Deposits with F.R. Banks, other than reserve balances 87,618 - 26,155 - 155,779 89,622
    Term deposits held by depository institutions 5,088 0 + 2,969 5,088
    U.S. Treasury, general account 23,425 - 33,486 - 12,688 14,599
    U.S. Treasury, supplementary financing account 0 0 - 199,957 0
    Foreign official 484 + 351 - 1,598 2,625
    Service-related 2,490 0 + 33 2,490
        Required clearing balances 2,490 0 + 33 2,490
        Adjustments to compensate for float 0 0 0 0
    Other 56,130 + 6,979 + 55,461 64,820
Funds from American International Group, Inc. asset
    dispositions, held as agent 6		 0 0 0 0
Other liabilities and capital 17 69,769 + 432 - 3,632 70,003
 
Total factors, other than reserve balances,
    absorbing reserve funds		 1,265,600 - 19,241 - 57,790 1,291,088
 
Reserve balances with Federal Reserve Banks 1,649,415 + 24,455 + 604,235 1,625,563
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
Aug 10, 2011
Week ended
Aug 10, 2011		 Change from week ended
Aug 3, 2011 Aug 11, 2010
Marketable securities held in custody for foreign
    official and international accounts 1		 3,470,035 + 6,798 + 305,547 3,475,945
    U.S. Treasury securities 2,735,131 + 6,244 + 400,947 2,741,850
    Federal agency securities 2 734,904 + 555 - 95,400 734,095
Securities lent to dealers 19,009 - 4,392 + 15,417 14,619
    Overnight facility 3 19,009 - 4,392 + 15,417 14,619
        U.S. Treasury securities 18,016 - 4,193 + 15,657 13,629
        Federal agency debt securities 992 - 200 - 240 990
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, August 10, 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 22 86 1,564 10,241 0 ... 11,913
U.S. Treasury securities 2  
    Holdings 16,846 14,631 116,236 715,638 580,770 200,621 1,644,743
    Weekly changes + 2,157 - 2,157 - 2 + 522 + 3,312 - 8 + 3,824
Federal agency debt securities 3  
    Holdings 2,659 2,108 16,639 68,537 20,145 2,347 112,435
    Weekly changes + 884 - 884 0 0 0 0 0
Mortgage-backed securities 4  
    Holdings 0 0 0 16 23 897,246 897,285
    Weekly changes 0 0 0 0 + 1 - 1 0
Asset-backed securities held by
    TALF LLC 5		 0 0 0 0 0 0 0
Repurchase agreements 6 0 0 ... ... ... ... 0
Central bank liquidity swaps 7 0 0 0 0 0 0 0
   
Reverse repurchase agreements 6 96,807 0 ... ... ... ... 96,807
Term deposits 5,088 0 0 ... ... ... 5,088
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
Aug 10, 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
Aug 10, 2011
Net portfolio holdings of Maiden Lane LLC 1 20,822
 
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 2 722
Outstanding principal amount and accrued interest on loan payable to JPMorgan Chase & Co. 3 1,357
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
Aug 10, 2011
Net portfolio holdings of Maiden Lane II LLC 1 10,064
 
Outstanding principal amount of loan extended by the Federal Reserve Bank of New York 2 6,808
Accrued interest payable to the Federal Reserve Bank of New York 2 535
Deferred payment and accrued interest payable to subsidiaries of American International Group, Inc. 3 1,092
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
Aug 10, 2011
Net portfolio holdings of Maiden Lane III LLC 1 21,622
 
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 2 641
Outstanding principal amount and accrued interest on loan payable to American International Group, Inc. 3 5,472
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
Aug 10, 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
Aug 10, 2011		 Change since
Wednesday
Aug 3, 2011		 Wednesday
Aug 11, 2010
Assets  
    Gold certificate account   11,037 0 0
    Special drawing rights certificate account   5,200 0 0
    Coin   2,189 + 3 + 124
    Securities, repurchase agreements, and loans   2,666,375 + 3,772 + 548,301
        Securities held outright 1   2,654,462 + 3,824 + 598,614
            U.S. Treasury securities   1,644,743 + 3,824 + 867,734
                Bills 2   18,423 0 0
                Notes and bonds, nominal 2   1,550,943 + 3,317 + 838,923
                Notes and bonds, inflation-indexed 2   65,948 + 427 + 24,819
                Inflation compensation 3   9,429 + 80 + 3,992
            Federal agency debt securities 2   112,435 0 - 46,946
            Mortgage-backed securities 4   897,285 0 - 222,174
        Repurchase agreements 5   0 0 0
        Loans   11,913 - 52 - 50,312
    Net portfolio holdings of Commercial Paper
        Funding Facility LLC 6		   0 0 - 1
    Net portfolio holdings of Maiden Lane LLC 7   20,822 + 2 - 8,647
    Net portfolio holdings of Maiden Lane II LLC 8   10,064 + 1 - 5,897
    Net portfolio holdings of Maiden Lane III LLC 9   21,622 + 111 - 1,677
    Net portfolio holdings of TALF LLC 10   767 0 + 227
    Preferred interests in AIA Aurora LLC and ALICO
        Holdings LLC 11		   0 0 - 25,733
    Items in process of collection (120) 152 - 147 - 64
    Bank premises   2,198 + 2 - 28
    Central bank liquidity swaps 12   0 0 - 1,246
    Other assets 13   135,810 + 1,451 + 39,944
 
Total assets (120) 2,876,236 + 5,195 + 545,304
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
Aug 10, 2011		 Change since
Wednesday
Aug 3, 2011		 Wednesday
Aug 11, 2010
Liabilities  
    Federal Reserve notes, net of F.R. Bank holdings   992,791 - 271 + 85,873
    Reverse repurchase agreements 14   96,807 + 28,184 + 38,259
    Deposits (0) 1,715,192 - 23,279 + 425,574
        Term deposits held by depository institutions   5,088 0 + 2,969
        Other deposits held by depository institutions   1,628,060 - 19,807 + 569,830
        U.S. Treasury, general account   14,599 - 17,672 - 12,333
        U.S. Treasury, supplementary financing account   0 0 - 199,957
        Foreign official   2,625 + 2,500 + 612
        Other (0) 64,820 + 11,700 + 64,453
    Deferred availability cash items (120) 1,443 - 102 - 794
    Other liabilities and accrued dividends 15   18,237 + 659 + 1,088
 
Total liabilities (120) 2,824,470 + 5,192 + 550,001
 
Capital accounts  
    Capital paid in   25,883 + 2 - 788
    Surplus   25,883 + 2 + 49
    Other capital accounts   0 0 - 3,958
 
Total capital   51,766 + 3 - 4,697
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, August 10, 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 2,189 51 69 165 163 361 195 329 41 60 167 228 361
    Securities, repurchase agreements,
        and loans		 2,666,375 65,264 1,246,243 90,931 71,703 306,563 197,350 157,648 50,273 40,830 70,624 104,984 263,962
        Securities held outright 1 2,654,462 65,264 1,234,439 90,931 71,703 306,563 197,340 157,636 50,241 40,795 70,610 104,984 263,956
            U.S. Treasury securities 1,644,743 40,438 764,876 56,342 44,428 189,951 122,274 97,674 31,130 25,277 43,751 65,050 163,551
                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 1,626,320 39,985 756,309 55,711 43,930 187,823 120,905 96,580 30,781 24,994 43,261 64,321 161,719
            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 11,913 0 11,804 0 0 0 10 11 32 35 14 0 6
    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		 20,822 0 20,822 0 0 0 0 0 0 0 0 0 0
    Net portfolio holdings of Maiden
        Lane II LLC 8		 10,064 0 10,064 0 0 0 0 0 0 0 0 0 0
    Net portfolio holdings of Maiden
        Lane III LLC 9		 21,622 0 21,622 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 272 25 0 49 103 5 -62 36 6 17 16 19 58
    Bank premises 2,198 123 255 67 137 235 214 206 135 106 261 247 211
    Central bank liquidity swaps 12 0 0 0 0 0 0 0 0 0 0 0 0 0
    Other assets 13 135,810 3,631 58,118 6,485 4,960 18,193 9,658 7,121 2,288 2,540 3,136 4,719 14,962
    Interdistrict settlement account 0 - 2,325 + 210,570 + 10,573 + 10,845 - 117,775 - 33,117 - 6,788 - 8,485 - 19,077 - 18,405 - 1,920 - 24,096
 
Total assets 2,876,356 67,355 1,574,214 108,912 88,596 208,866 176,287 159,831 44,725 24,763 56,271 109,287 257,249
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, August 10, 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 1,152,623 43,350 384,647 46,735 55,197 95,730 141,001 90,960 34,103 19,360 32,073 75,104 134,363
        Less: Notes held by F.R. Banks 159,832 5,294 42,500 6,250 7,329 12,515 23,815 13,145 4,368 5,591 3,301 10,879 24,844
            Federal Reserve notes, net 992,791 38,056 342,147 40,485 47,868 83,215 117,186 77,815 29,734 13,768 28,772 64,225 109,519
    Reverse repurchase agreements 14 96,807 2,380 45,019 3,316 2,615 11,180 7,197 5,749 1,832 1,488 2,575 3,829 9,626
    Deposits 1,715,192 24,752 1,157,823 59,856 33,623 102,368 48,290 74,167 12,447 8,820 24,091 40,031 128,924
        Term deposits held by depository
            institutions		 5,088 20 1,485 805 0 1,765 0 22 75 40 6 30 840
        Other deposits held by depository
            institutions		 1,628,060 24,727 1,074,546 59,047 33,619 100,451 48,287 74,121 12,326 8,779 24,084 40,000 128,074
        U.S. Treasury, general account 14,599 0 14,599 0 0 0 0 0 0 0 0 0 0
        U.S. Treasury, supplementary
            financing account		 0 0 0 0 0 0 0 0 0 0 0 0 0
        Foreign official 2,625 1 2,596 4 3 8 2 1 0 1 0 1 6
        Other 64,820 4 64,597 0 1 143 0 23 46 0 1 0 4
    Deferred availability cash items 1,563 87 0 233 224 52 82 115 53 299 89 72 257
    Interest on Federal Reserve notes due
        to U.S. Treasury 15		 536 36 -204 43 33 163 101 88 26 19 39 57 134
    Other liabilities and accrued
        dividends 16		 17,701 200 13,907 271 270 769 481 414 183 148 185 291 581
 
Total liabilities 2,824,590 65,511 1,558,693 104,204 84,633 197,747 173,337 158,348 44,275 24,543 55,752 108,505 249,042
 
Capital  
    Capital paid in 25,883 922 7,760 2,354 1,982 5,560 1,475 742 225 110 260 391 4,103
    Surplus 25,883 922 7,760 2,354 1,982 5,560 1,475 742 225 110 260 391 4,103
    Other capital 0 0 0 0 0 0 0 0 0 0 0 0 0
 
Total liabilities and capital 2,876,356 67,355 1,574,214 108,912 88,596 208,866 176,287 159,831 44,725 24,763 56,271 109,287 257,249
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, August 10, 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
Aug 10, 2011
Federal Reserve notes outstanding 1,152,623
    Less: Notes held by F.R. Banks not subject to collateralization 159,832
        Federal Reserve notes to be collateralized 992,791
Collateral held against Federal Reserve notes 992,791
    Gold certificate account 11,037
    Special drawing rights certificate account 5,200
    U.S. Treasury, agency debt, and mortgage-backed securities pledged 1,2 976,554
    Other assets pledged 0
Memo:  
Total U.S. Treasury, agency debt, and mortgage-backed securities 1,2 2,654,462
    Less: Face value of securities under reverse repurchase agreements 83,929
        U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 2,570,533
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: August 11, 2011