Federal Reserve Statistical Release, H.4.1, Factors Affecting Reserve Balances; title with eagle logo links to Statistical Release home page
Release Date:   August 18, 2011
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August 18, 2011

The Board's H.4.1 statistical release ("Factors Affecting Reserve Balances of Depository Institutions
and Condition Statement of Federal Reserve Banks") for August 17, 2011, released today,
understated the average amount of marketable securities held in custody for foreign official and
international accounts. As a result, corrections to table 1A have been made. In table 1A, the weekly
average value of the "Marketable securities held in custody for foreign official and international
accounts" for the week ended Wednesday, August 17, 2011, was corrected from $2,981,694 million
to $3,478,623 million. The weekly average value of "U.S. Treasury securities" held in custody for
the week ended Wednesday, August 17, 2011, was corrected from $2,352,395 million to $2,744,281
million, and the weekly average value of "Federal agency securities" held in custody for the week
ended Wednesday, August 17, 2011, was corrected from $629,299 million to $734,343 million.


FEDERAL RESERVE statistical release

H.4.1

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

August 18, 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 17, 2011
Week ended
Aug 17, 2011		 Change from week ended
Aug 10, 2011 Aug 18, 2010
Reserve Bank credit 2,848,230 - 6,494 + 545,756 2,841,932
    Securities held outright 1 2,652,085 - 1,535 + 599,935 2,650,862
        U.S. Treasury securities 1,645,147 + 1,247 + 867,780 1,647,633
            Bills 2 18,423 0 0 18,423
            Notes and bonds, nominal 2 1,551,359 + 889 + 838,975 1,553,852
            Notes and bonds, inflation-indexed 2 65,948 + 305 + 24,819 65,948
            Inflation compensation 3 9,417 + 52 + 3,986 9,410
        Federal agency debt securities 2 111,674 - 761 - 45,951 110,660
        Mortgage-backed securities 4 895,264 - 2,021 - 221,894 892,569
    Repurchase agreements 5 0 0 0 0
    Loans 11,904 - 15 - 50,005 11,903
        Primary credit 6 0 - 6 3
        Secondary credit 0 0 0 0
        Seasonal credit 98 + 7 + 16 99
        Credit extended to American International
            Group, Inc., net 6		 0 0 - 23,511 0
        Term Asset-Backed Securities Loan Facility 7 11,801 - 20 - 26,504 11,800
        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 18,187 - 2,633 - 10,849 18,174
    Net portfolio holdings of Maiden Lane II LLC 10 10,065 + 2 - 5,897 10,068
    Net portfolio holdings of Maiden Lane III LLC 11 21,351 - 176 - 1,952 21,315
    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 -1,082 + 53 + 682 -1,121
    Central bank liquidity swaps 13 200 + 200 - 234 200
    Other Federal Reserve assets 14 134,753 - 2,390 + 39,582 129,764
Gold stock 11,041 0 0 11,041
Special drawing rights certificate account 5,200 0 0 5,200
Treasury currency outstanding 15 44,064 + 14 + 740 44,064
 
Total factors supplying reserve funds 2,908,535 - 6,479 + 546,496 2,902,237
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 17, 2011
Week ended
Aug 17, 2011		 Change from week ended
Aug 10, 2011 Aug 18, 2010
Currency in circulation 15 1,033,505 - 2 + 86,576 1,034,147
Reverse repurchase agreements 16 99,940 + 25,361 + 39,807 95,911
    Foreign official and international accounts 99,931 + 25,352 + 40,004 95,911
    Others 9 + 9 - 197 0
Treasury cash holdings 113 - 14 - 96 114
Deposits with F.R. Banks, other than reserve balances 82,877 - 4,741 - 158,406 56,514
    Term deposits held by depository institutions 5,088 0 + 2,969 5,088
    U.S. Treasury, general account 20,172 - 3,253 - 8,171 8,905
    U.S. Treasury, supplementary financing account 0 0 - 199,955 0
    Foreign official 5,183 + 4,699 + 3,300 5,126
    Service-related 2,486 - 4 + 28 2,486
        Required clearing balances 2,486 - 4 + 28 2,486
        Adjustments to compensate for float 0 0 0 0
    Other 49,948 - 6,182 + 43,422 34,910
Funds from American International Group, Inc. asset
    dispositions, held as agent 6		 0 0 0 0
Other liabilities and capital 17 70,815 + 1,046 - 1,372 70,873
 
Total factors, other than reserve balances,
    absorbing reserve funds		 1,287,249 + 21,649 - 33,492 1,257,559
 
Reserve balances with Federal Reserve Banks 1,621,286 - 28,129 + 579,988 1,644,678
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 17, 2011
Week ended
Aug 17, 2011		 Change from week ended
Aug 10, 2011 Aug 18, 2010
Marketable securities held in custody for foreign
    official and international accounts 1		 3,478,623 + 8,588 + 302,696 3,484,770
    U.S. Treasury securities 2,744,281 + 9,150 + 389,628 2,752,442
    Federal agency securities 2 734,343 - 561 - 86,931 732,328
Securities lent to dealers 14,473 - 4,536 + 9,956 12,803
    Overnight facility 3 14,473 - 4,536 + 9,956 12,803
        U.S. Treasury securities 13,807 - 4,209 + 10,704 12,190
        Federal agency debt securities 666 - 326 - 749 613
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 17, 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 77 26 2,383 9,417 0 ... 11,903
U.S. Treasury securities 2  
    Holdings 15,533 19,249 125,266 709,657 576,091 201,837 1,647,633
    Weekly changes - 1,313 + 4,618 + 9,030 - 5,981 - 4,679 + 1,216 + 2,890
Federal agency debt securities 3  
    Holdings 884 2,279 18,396 66,609 20,145 2,347 110,660
    Weekly changes - 1,775 + 171 + 1,757 - 1,928 0 0 - 1,775
Mortgage-backed securities 4  
    Holdings 0 0 0 15 23 892,531 892,569
    Weekly changes 0 0 0 - 1 0 - 4,715 - 4,716
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 7 200 0 0 0 0 0 200
   
Reverse repurchase agreements 6 95,911 0 ... ... ... ... 95,911
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 17, 2011
Mortgage-backed securities held outright 1 892,569
 
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 17, 2011
Net portfolio holdings of Maiden Lane LLC 1 18,174
 
Outstanding principal amount of loan extended by the Federal Reserve Bank of New York 2 15,061
Accrued interest payable to the Federal Reserve Bank of New York 2 725
Outstanding principal amount and accrued interest on loan payable to JPMorgan Chase & Co. 3 1,358
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 17, 2011
Net portfolio holdings of Maiden Lane II LLC 1 10,068
 
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 2 537
Deferred payment and accrued interest payable to subsidiaries of American International Group, Inc. 3 1,093
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 17, 2011
Net portfolio holdings of Maiden Lane III LLC 1 21,315
 
Outstanding principal amount of loan extended by the Federal Reserve Bank of New York 2 10,536
Accrued interest payable to the Federal Reserve Bank of New York 2 643
Outstanding principal amount and accrued interest on loan payable to American International Group, Inc. 3 5,475
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 17, 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 17, 2011		 Change since
Wednesday
Aug 10, 2011		 Wednesday
Aug 18, 2010
Assets  
    Gold certificate account   11,037 0 0
    Special drawing rights certificate account   5,200 0 0
    Coin   2,189 0 + 128
    Securities, repurchase agreements, and loans   2,662,765 - 3,610 + 551,067
        Securities held outright 1   2,650,862 - 3,600 + 601,084
            U.S. Treasury securities   1,647,633 + 2,890 + 868,084
                Bills 2   18,423 0 0
                Notes and bonds, nominal 2   1,553,852 + 2,909 + 839,281
                Notes and bonds, inflation-indexed 2   65,948 0 + 24,819
                Inflation compensation 3   9,410 - 19 + 3,983
            Federal agency debt securities 2   110,660 - 1,775 - 46,551
            Mortgage-backed securities 4   892,569 - 4,716 - 220,448
        Repurchase agreements 5   0 0 0
        Loans   11,903 - 10 - 50,018
    Net portfolio holdings of Commercial Paper
        Funding Facility LLC 6		   0 0 0
    Net portfolio holdings of Maiden Lane LLC 7   18,174 - 2,648 - 10,807
    Net portfolio holdings of Maiden Lane II LLC 8   10,068 + 4 - 5,899
    Net portfolio holdings of Maiden Lane III LLC 9   21,315 - 307 - 2,009
    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 (118) 222 + 70 - 49
    Bank premises   2,199 + 1 - 28
    Central bank liquidity swaps 12   200 + 200 - 234
    Other assets 13   127,559 - 8,251 + 37,964
 
Total assets (118) 2,861,695 - 14,541 + 544,626
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 17, 2011		 Change since
Wednesday
Aug 10, 2011		 Wednesday
Aug 18, 2010
Liabilities  
    Federal Reserve notes, net of F.R. Bank holdings   992,382 - 409 + 85,626
    Reverse repurchase agreements 14   95,911 - 896 + 35,726
    Deposits (0) 1,701,186 - 14,006 + 424,591
        Term deposits held by depository institutions   5,088 0 + 2,969
        Other deposits held by depository institutions   1,647,157 + 19,097 + 605,362
        U.S. Treasury, general account   8,905 - 5,694 - 21,312
        U.S. Treasury, supplementary financing account   0 0 - 199,955
        Foreign official   5,126 + 2,501 + 3,031
        Other (0) 34,910 - 29,910 + 34,497
    Deferred availability cash items (118) 1,344 - 99 - 734
    Other liabilities and accrued dividends 15   19,056 + 819 + 4,123
 
Total liabilities (118) 2,809,878 - 14,592 + 549,331
 
Capital accounts  
    Capital paid in   25,909 + 26 - 784
    Surplus   25,909 + 26 + 70
    Other capital accounts   0 0 - 3,989
 
Total capital   51,817 + 51 - 4,705
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 17, 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 69 164 161 361 198 331 39 58 167 225 364
    Securities, repurchase agreements,
        and loans		 2,662,765 65,175 1,244,565 90,811 71,605 306,148 197,079 157,432 50,205 40,776 70,529 104,842 263,598
        Securities held outright 1 2,650,862 65,175 1,232,765 90,808 71,605 306,148 197,072 157,423 50,173 40,740 70,514 104,842 263,598
            U.S. Treasury securities 1,647,633 40,509 766,220 56,441 44,506 190,285 122,489 97,845 31,185 25,322 43,828 65,164 163,838
                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 1,629,211 40,057 757,653 55,810 44,008 188,157 121,120 96,751 30,836 25,039 43,338 64,435 162,006
            Federal agency debt securities 2 110,660 2,721 51,462 3,791 2,989 12,780 8,227 6,572 2,094 1,701 2,944 4,377 11,004
            Mortgage-backed securities 4 892,569 21,945 415,083 30,576 24,110 103,083 66,356 53,006 16,894 13,717 23,743 35,301 88,756
        Repurchase agreements 5 0 0 0 0 0 0 0 0 0 0 0 0 0
        Loans 11,903 0 11,800 3 0 0 7 9 32 37 15 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		 18,174 0 18,174 0 0 0 0 0 0 0 0 0 0
    Net portfolio holdings of Maiden
        Lane II LLC 8		 10,068 0 10,068 0 0 0 0 0 0 0 0 0 0
    Net portfolio holdings of Maiden
        Lane III LLC 9		 21,315 0 21,315 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 340 24 0 56 104 6 27 33 5 13 7 16 49
    Bank premises 2,199 123 255 67 137 236 214 206 135 106 261 247 212
    Central bank liquidity swaps 12 200 7 58 19 15 41 11 5 2 6 2 3 31
    Other assets 13 127,559 3,434 54,242 6,215 4,750 17,269 9,023 6,618 2,130 2,418 2,913 4,388 14,158
    Interdistrict settlement account 0 - 397 + 198,264 + 14,101 + 8,568 - 119,203 - 31,141 - 10,210 - 8,853 - 19,065 - 18,681 - 2,724 - 10,659
 
Total assets 2,861,813 69,003 1,553,461 112,076 86,027 206,141 177,459 155,693 44,133 24,600 55,669 108,008 269,543
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 17, 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 1,154,331 43,344 385,791 46,732 55,338 95,863 141,354 90,998 34,077 19,346 32,136 75,042 134,311
        Less: Notes held by F.R. Banks 161,949 5,306 42,930 6,330 7,631 12,665 23,671 13,390 4,530 5,557 3,475 11,098 25,366
            Federal Reserve notes, net 992,382 38,038 342,861 40,401 47,708 83,197 117,683 77,607 29,547 13,789 28,661 63,943 108,946
    Reverse repurchase agreements 14 95,911 2,358 44,603 3,286 2,591 11,077 7,130 5,696 1,815 1,474 2,551 3,793 9,537
    Deposits 1,701,186 26,425 1,136,099 63,110 31,226 99,718 49,011 70,299 12,059 8,665 23,639 39,070 141,864
        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		 1,647,157 26,401 1,085,919 62,301 31,222 97,811 49,009 70,252 11,934 8,624 23,632 39,039 141,013
        U.S. Treasury, general account 8,905 0 8,905 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 5,126 1 5,097 4 3 8 2 1 0 1 0 1 6
        Other 34,910 2 34,693 0 1 134 0 23 51 0 1 0 4
    Deferred availability cash items 1,461 75 0 232 213 51 76 108 52 276 77 71 231
    Interest on Federal Reserve notes due
        to U.S. Treasury 15		 1,502 20 573 73 58 219 124 91 30 29 40 60 186
    Other liabilities and accrued
        dividends 16		 17,553 202 13,805 265 268 759 479 407 179 146 183 289 571
 
Total liabilities 2,809,995 67,118 1,537,940 107,367 82,063 195,022 174,504 154,208 43,682 24,380 55,151 107,226 261,335
 
Capital  
    Capital paid in 25,909 943 7,761 2,354 1,982 5,560 1,477 743 225 110 259 391 4,104
    Surplus 25,909 943 7,761 2,354 1,982 5,560 1,477 743 225 110 259 391 4,104
    Other capital 0 0 0 0 0 0 0 0 0 0 0 0 0
 
Total liabilities and capital 2,861,813 69,003 1,553,461 112,076 86,027 206,141 177,459 155,693 44,133 24,600 55,669 108,008 269,543
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 17, 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 17, 2011
Federal Reserve notes outstanding 1,154,331
    Less: Notes held by F.R. Banks not subject to collateralization 161,949
        Federal Reserve notes to be collateralized 992,382
Collateral held against Federal Reserve notes 992,382
    Gold certificate account 11,037
    Special drawing rights certificate account 5,200
    U.S. Treasury, agency debt, and mortgage-backed securities pledged 1,2 976,145
    Other assets pledged 0
Memo:  
Total U.S. Treasury, agency debt, and mortgage-backed securities 1,2 2,650,862
    Less: Face value of securities under reverse repurchase agreements 90,833
        U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 2,560,030
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 18, 2011