Federal Reserve Statistical Release, H.4.1, Factors Affecting Reserve Balances; title with eagle logo links to Statistical Release home page
Release Date:   September 8, 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

September 8, 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
Sep 7, 2011
Week ended
Sep 7, 2011		 Change from week ended
Aug 31, 2011 Sep 8, 2010
Reserve Bank credit 2,840,822 + 4,998 + 554,199 2,841,477
    Securities held outright 1 2,649,298 + 4,791 + 602,056 2,650,320
        U.S. Treasury securities 1,654,577 + 4,791 + 867,005 1,655,599
            Bills 2 18,423 0 0 18,423
            Notes and bonds, nominal 2 1,559,908 + 4,388 + 837,848 1,560,925
            Notes and bonds, inflation-indexed 2 66,754 + 377 + 25,094 66,754
            Inflation compensation 3 9,492 + 25 + 4,063 9,497
        Federal agency debt securities 2 109,776 0 - 46,726 109,776
        Mortgage-backed securities 4 884,945 0 - 218,223 884,945
    Repurchase agreements 5 0 0 0 0
    Loans 11,672 - 26 - 41,857 11,661
        Primary credit 2 - 5 - 27 13
        Secondary credit 0 0 0 0
        Seasonal credit 78 - 17 - 4 64
        Credit extended to American International
            Group, Inc., net 6		 0 0 - 20,008 0
        Term Asset-Backed Securities Loan Facility 7 11,592 - 3 - 21,818 11,584
        Other credit extensions 0 0 0 0
    Net portfolio holdings of Maiden Lane LLC 8 18,234 + 28 - 10,816 18,257
    Net portfolio holdings of Maiden Lane II LLC 9 9,977 - 100 - 5,990 9,956
    Net portfolio holdings of Maiden Lane III LLC 10 21,339 + 18 - 1,882 21,406
    Net portfolio holdings of TALF LLC 11 775 0 + 200 775
    Preferred interests in AIA Aurora LLC and ALICO
        Holdings LLC 6		 0 0 - 25,733 0
    Float -1,104 - 176 + 785 -1,867
    Central bank liquidity swaps 12 0 0 - 64 0
    Other Federal Reserve assets 13 130,630 + 462 + 37,500 130,967
Gold stock 11,041 0 0 11,041
Special drawing rights certificate account 5,200 0 0 5,200
Treasury currency outstanding 14 44,106 + 14 + 722 44,106
 
Total factors supplying reserve funds 2,901,168 + 5,011 + 554,921 2,901,823
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
Sep 7, 2011
Week ended
Sep 7, 2011		 Change from week ended
Aug 31, 2011 Sep 8, 2010
Currency in circulation 14 1,041,915 + 7,821 + 88,050 1,043,331
Reverse repurchase agreements 15 103,428 + 880 + 45,470 102,756
    Foreign official and international accounts 103,428 + 880 + 45,470 102,756
    Others 0 0 0 0
Treasury cash holdings 123 - 7 - 123 109
Deposits with F.R. Banks, other than reserve balances 68,639 - 7,784 - 161,814 77,422
    Term deposits held by depository institutions 0 0 - 2,119 0
    U.S. Treasury, General Account 20,192 - 128 - 2,870 22,841
    U.S. Treasury, Supplementary Financing Account 0 0 - 199,957 0
    Foreign official 4,436 + 333 + 1,954 3,242
    Service-related 2,474 - 1 + 40 2,474
        Required clearing balances 2,474 - 1 + 40 2,474
        Adjustments to compensate for float 0 0 0 0
    Other 41,537 - 7,989 + 41,138 48,865
Funds from American International Group, Inc. asset
    dispositions, held as agent 6		 0 0 0 0
Other liabilities and capital 16 71,176 - 160 - 1,239 70,480
 
Total factors, other than reserve balances,
    absorbing reserve funds		 1,285,281 + 750 - 29,656 1,294,098
 
Reserve balances with Federal Reserve Banks 1,615,887 + 4,261 + 584,577 1,607,725
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. 
Refer to table 4 and the note on consolidation accompanying table 9.
9. 
Refer to table 5 and the note on consolidation accompanying table 9.
10. 
Refer to table 6 and the note on consolidation accompanying table 9.
11. 
Refer to table 7 and the note on consolidation accompanying table 9.
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 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. 
Estimated.
15. 
Cash value of agreements, which are collateralized by U.S. Treasury securities, federal agency debt securities, and mortgage-backed securities.
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 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
Sep 7, 2011
Week ended
Sep 7, 2011		 Change from week ended
Aug 31, 2011 Sep 8, 2010
Marketable securities held in custody for foreign
    official and international accounts 1		 3,477,561 - 9,345 + 256,838 3,474,279
    U.S. Treasury securities 2,744,284 - 10,016 + 338,060 2,742,101
    Federal agency securities 2 733,277 + 671 - 81,222 732,178
Securities lent to dealers 11,608 - 922 + 4,735 11,758
    Overnight facility 3 11,608 - 922 + 4,735 11,758
        U.S. Treasury securities 11,098 - 914 + 5,615 11,229
        Federal agency debt securities 509 - 9 - 882 529
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, September 7, 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 26 52 2,371 9,213 0 ... 11,661
U.S. Treasury securities 2  
    Holdings 14,641 21,730 127,126 715,186 579,731 197,185 1,655,599
    Weekly changes + 2,156 + 2,828 + 1,863 - 3,373 + 4 + 7 + 3,486
Federal agency debt securities 3  
    Holdings 1,508 2,359 18,699 64,718 20,145 2,347 109,776
    Weekly changes + 1,361 - 1,361 0 0 0 0 0
Mortgage-backed securities 4  
    Holdings 0 0 0 15 22 884,908 884,945
    Weekly changes 0 0 0 0 0 0 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 6 102,756 0 ... ... ... ... 102,756
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
Sep 7, 2011
Mortgage-backed securities held outright 1 884,945
 
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
Sep 7, 2011
Net portfolio holdings of Maiden Lane LLC 1 18,257
 
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 2 732
Outstanding principal amount and accrued interest on loan payable to JPMorgan Chase & Co. 3 1,362
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
Sep 7, 2011
Net portfolio holdings of Maiden Lane II LLC 1 9,956
 
Outstanding principal amount of loan extended by the Federal Reserve Bank of New York 2 6,654
Accrued interest payable to the Federal Reserve Bank of New York 2 542
Deferred payment and accrued interest payable to subsidiaries of American International Group, Inc. 3 1,095
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
Sep 7, 2011
Net portfolio holdings of Maiden Lane III LLC 1 21,406
 
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 2 651
Outstanding principal amount and accrued interest on loan payable to American International Group, Inc. 3 5,485
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
Sep 7, 2011
Asset-backed securities holdings 1 0
Other investments, net 775
Net portfolio holdings of TALF LLC 775
 
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
Sep 7, 2011		 Change since
Wednesday
Aug 31, 2011		 Wednesday
Sep 8, 2010
Assets  
    Gold certificate account   11,037 0 0
    Special drawing rights certificate account   5,200 0 0
    Coin   2,195 - 6 + 128
    Securities, repurchase agreements, and loans   2,661,982 + 3,442 + 559,481
        Securities held outright 1   2,650,320 + 3,486 + 600,756
            U.S. Treasury securities   1,655,599 + 3,486 + 865,705
                Bills 2   18,423 0 0
                Notes and bonds, nominal 2   1,560,925 + 3,470 + 836,544
                Notes and bonds, inflation-indexed 2   66,754 0 + 25,094
                Inflation compensation 3   9,497 + 16 + 4,067
            Federal agency debt securities 2   109,776 0 - 46,726
            Mortgage-backed securities 4   884,945 0 - 218,223
        Repurchase agreements 5   0 0 0
        Loans   11,661 - 45 - 41,276
    Net portfolio holdings of Maiden Lane LLC 6   18,257 + 27 - 10,813
    Net portfolio holdings of Maiden Lane II LLC 7   9,956 - 153 - 5,858
    Net portfolio holdings of Maiden Lane III LLC 8   21,406 + 79 - 1,593
    Net portfolio holdings of TALF LLC 9   775 0 + 200
    Preferred interests in AIA Aurora LLC and ALICO
        Holdings LLC 10		   0 0 - 25,733
    Items in process of collection (129) 331 + 71 - 81
    Bank premises   2,183 - 6 - 40
    Central bank liquidity swaps 11   0 0 - 64
    Other assets 12   128,821 + 1,296 + 37,421
 
Total assets (129) 2,862,144 + 4,750 + 553,050
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
Sep 7, 2011		 Change since
Wednesday
Aug 31, 2011		 Wednesday
Sep 8, 2010
Liabilities  
    Federal Reserve notes, net of F.R. Bank holdings   1,001,525 + 5,469 + 87,838
    Reverse repurchase agreements 13   102,756 - 1,788 + 43,954
    Deposits (0) 1,685,185 + 379 + 423,347
        Term deposits held by depository institutions   0 0 - 2,119
        Other deposits held by depository institutions   1,610,237 + 18,242 + 557,834
        U.S. Treasury, General Account   22,841 - 19,640 + 17,982
        U.S. Treasury, Supplementary Financing Account   0 0 - 199,957
        Foreign official   3,242 + 567 + 1,121
        Other (0) 48,865 + 1,211 + 48,487
    Deferred availability cash items (129) 2,198 + 780 - 925
    Other liabilities and accrued dividends 14   18,577 - 103 + 3,548
 
Total liabilities (129) 2,810,241 + 4,737 + 557,762
 
Capital accounts  
    Capital paid in   25,951 + 6 - 724
    Surplus   25,951 + 6 + 94
    Other capital accounts   0 0 - 4,083
 
Total capital   51,903 + 13 - 4,712
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. 
Refer to table 4 and the note on consolidation accompanying table 9.
7. 
Refer to table 5 and the note on consolidation accompanying table 9.
8. 
Refer to table 6 and the note on consolidation accompanying table 9.
9. 
Refer to table 7 and the note on consolidation accompanying table 9.
10. 
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.
11. 
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.
12. 
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.
13. 
Cash value of agreements, which are collateralized by U.S. Treasury securities, federal agency debt securities, and mortgage-backed securities.
14. 
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, September 7, 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 2,195 53 72 163 162 367 198 331 39 57 167 225 362
    Securities, repurchase agreements,
        and loans		 2,661,982 65,162 1,244,096 90,790 71,591 306,085 197,037 157,411 50,170 40,757 70,518 104,820 263,544
        Securities held outright 1 2,650,320 65,162 1,232,513 90,790 71,591 306,085 197,032 157,390 50,163 40,731 70,500 104,820 263,544
            U.S. Treasury securities 1,655,599 40,705 769,925 56,714 44,721 191,205 123,082 98,318 31,336 25,444 44,040 65,479 164,630
                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 1,637,176 40,252 761,357 56,083 44,224 189,077 121,712 97,224 30,987 25,161 43,550 64,750 162,798
            Federal agency debt securities 2 109,776 2,699 51,051 3,760 2,965 12,678 8,161 6,519 2,078 1,687 2,920 4,342 10,916
            Mortgage-backed securities 4 884,945 21,758 411,537 30,315 23,904 102,202 65,789 52,553 16,749 13,600 23,540 35,000 87,998
        Repurchase agreements 5 0 0 0 0 0 0 0 0 0 0 0 0 0
        Loans 11,661 0 11,584 0 0 0 6 20 7 26 19 0 0
    Net portfolio holdings of Maiden
        Lane LLC 6		 18,257 0 18,257 0 0 0 0 0 0 0 0 0 0
    Net portfolio holdings of Maiden
        Lane II LLC 7		 9,956 0 9,956 0 0 0 0 0 0 0 0 0 0
    Net portfolio holdings of Maiden
        Lane III LLC 8		 21,406 0 21,406 0 0 0 0 0 0 0 0 0 0
    Net portfolio holdings of TALF LLC 9 775 0 775 0 0 0 0 0 0 0 0 0 0
    Preferred interests in AIA Aurora LLC
        and ALICO Holdings LLC 10		 0 0 0 0 0 0 0 0 0 0 0 0 0
    Items in process of collection 461 27 0 71 131 11 41 50 8 16 10 23 73
    Bank premises 2,183 123 254 67 126 235 214 205 135 106 260 246 212
    Central bank liquidity swaps 11 0 0 0 0 0 0 0 0 0 0 0 0 0
    Other assets 12 128,821 3,459 54,955 6,140 4,762 17,365 9,146 6,721 2,169 2,435 2,960 4,453 14,256
    Interdistrict settlement account 0 + 583 + 201,517 - 1,398 + 8,478 - 111,817 - 31,115 - 9,962 - 7,031 - 17,987 - 13,360 - 1,492 - 16,417
 
Total assets 2,862,273 69,993 1,556,972 96,475 85,937 213,529 177,569 156,035 45,959 25,671 61,027 109,285 263,820
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, September 7, 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 1,160,595 43,323 390,309 46,506 55,198 95,600 143,513 90,696 33,990 19,277 32,210 75,548 134,424
        Less: Notes held by F.R. Banks 159,070 5,241 42,857 6,547 7,242 11,631 24,210 12,849 4,279 5,451 3,647 10,886 24,229
            Federal Reserve notes, net 1,001,525 38,082 347,452 39,959 47,956 83,969 119,303 77,847 29,711 13,826 28,563 64,662 110,195
    Reverse repurchase agreements 13 102,756 2,526 47,786 3,520 2,776 11,867 7,639 6,102 1,945 1,579 2,733 4,064 10,218
    Deposits 1,685,185 27,149 1,131,711 47,603 30,662 105,657 46,980 69,958 13,549 9,591 28,891 39,327 134,107
        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		 1,610,237 27,140 1,056,975 47,599 30,659 105,536 46,975 69,929 13,520 9,589 28,890 39,326 134,098
        U.S. Treasury, General Account 22,841 0 22,841 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 3,242 1 3,214 4 3 8 2 1 0 1 0 1 6
        Other 48,865 7 48,681 0 0 113 2 28 29 0 1 0 2
    Deferred availability cash items 2,328 132 0 400 299 98 141 163 104 304 113 125 450
    Interest on Federal Reserve notes due
        to U.S. Treasury 14		 1,031 18 612 4 9 63 81 80 22 8 30 44 61
    Other liabilities and accrued
        dividends 15		 17,546 201 13,832 268 271 755 471 399 178 145 178 278 571
 
Total liabilities 2,810,371 68,108 1,541,393 91,754 81,973 202,409 174,615 154,549 45,508 25,451 60,509 108,500 255,602
 
Capital  
    Capital paid in 25,951 943 7,790 2,360 1,982 5,560 1,477 743 225 110 259 392 4,109
    Surplus 25,951 943 7,790 2,360 1,982 5,560 1,477 743 225 110 259 392 4,109
    Other capital 0 0 0 0 0 0 0 0 0 0 0 0 0
 
Total liabilities and capital 2,862,273 69,993 1,556,972 96,475 85,937 213,529 177,569 156,035 45,959 25,671 61,027 109,285 263,820
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, September 7, 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. 
Refer to table 4 and the note on consolidation below.
7. 
Refer to table 5 and the note on consolidation below.
8. 
Refer to table 6 and the note on consolidation below.
9. 
Refer to table 7 and the note on consolidation below.
10. 
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.
11. 
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.
12. 
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.
13. 
Cash value of agreements, which are collateralized by U.S. Treasury securities, federal agency debt securities, and mortgage-backed securities.
14. 
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.
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 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
Sep 7, 2011
Federal Reserve notes outstanding 1,160,595
    Less: Notes held by F.R. Banks not subject to collateralization 159,070
        Federal Reserve notes to be collateralized 1,001,525
Collateral held against Federal Reserve notes 1,001,525
    Gold certificate account 11,037
    Special drawing rights certificate account 5,200
    U.S. Treasury, agency debt, and mortgage-backed securities pledged 1,2 985,288
    Other assets pledged 0
Memo:  
Total U.S. Treasury, agency debt, and mortgage-backed securities 1,2 2,650,320
    Less: Face value of securities under reverse repurchase agreements 88,950
        U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 2,561,370
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: September 8, 2011