Federal Reserve Statistical Release, H.4.1, Factors Affecting Reserve Balances; title with eagle logo links to Statistical Release home page
Release Date:   September 15, 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 15, 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 14, 2011
Week ended
Sep 14, 2011		 Change from week ended
Sep 7, 2011 Sep 15, 2010
Reserve Bank credit 2,844,469 + 3,647 + 555,176 2,846,894
    Securities held outright 1 2,651,764 + 2,466 + 602,022 2,653,681
        U.S. Treasury securities 1,657,043 + 2,466 + 865,019 1,658,960
            Bills 2 18,423 0 0 18,423
            Notes and bonds, nominal 2 1,562,359 + 2,451 + 835,864 1,564,270
            Notes and bonds, inflation-indexed 2 66,754 0 + 25,078 66,754
            Inflation compensation 3 9,507 + 15 + 4,076 9,513
        Federal agency debt securities 2 109,776 0 - 46,336 109,776
        Mortgage-backed securities 4 884,945 0 - 216,661 884,945
    Repurchase agreements 5 0 0 0 0
    Loans 11,660 - 12 - 41,134 11,628
        Primary credit 19 + 17 - 10 68
        Secondary credit 0 0 0 0
        Seasonal credit 76 - 2 - 3 76
        Credit extended to American International
            Group, Inc., net 6		 0 0 - 19,877 0
        Term Asset-Backed Securities Loan Facility 7 11,565 - 27 - 21,242 11,484
        Other credit extensions 0 0 0 0
    Net portfolio holdings of Maiden Lane LLC 8 18,259 + 25 - 10,721 18,269
    Net portfolio holdings of Maiden Lane II LLC 9 9,957 - 20 - 5,858 9,959
    Net portfolio holdings of Maiden Lane III LLC 10 21,415 + 76 - 1,587 21,465
    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 -1,120 - 16 + 727 -1,386
    Central bank liquidity swaps 12 0 0 - 61 0
    Other Federal Reserve assets 13 131,760 + 1,130 + 37,321 132,503
Gold stock 11,041 0 0 11,041
Special drawing rights certificate account 5,200 0 0 5,200
Treasury currency outstanding 14 44,120 + 14 + 729 44,120
 
Total factors supplying reserve funds 2,904,829 + 3,661 + 555,904 2,907,254
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 14, 2011
Week ended
Sep 14, 2011		 Change from week ended
Sep 7, 2011 Sep 15, 2010
Currency in circulation 14 1,040,687 - 1,228 + 88,442 1,039,955
Reverse repurchase agreements 15 98,062 - 5,366 + 37,654 94,116
    Foreign official and international accounts 98,062 - 5,366 + 37,654 94,116
    Others 0 0 0 0
Treasury cash holdings 109 - 14 - 133 109
Deposits with F.R. Banks, other than reserve balances 77,089 + 8,450 - 159,604 84,224
    Term deposits held by depository institutions 0 0 - 2,119 0
    U.S. Treasury, General Account 13,766 - 6,426 - 8,575 16,083
    U.S. Treasury, Supplementary Financing Account 0 0 - 199,960 0
    Foreign official 2,399 - 2,037 0 2,630
    Service-related 2,522 + 48 + 93 2,522
        Required clearing balances 2,522 + 48 + 93 2,522
        Adjustments to compensate for float 0 0 0 0
    Other 58,403 + 16,866 + 50,959 62,990
Funds from American International Group, Inc. asset
    dispositions, held as agent 6		 0 0 0 0
Other liabilities and capital 16 70,879 - 297 - 1,483 70,711
 
Total factors, other than reserve balances,
    absorbing reserve funds		 1,286,826 + 1,545 - 35,123 1,289,114
 
Reserve balances with Federal Reserve Banks 1,618,004 + 2,117 + 591,028 1,618,140
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 14, 2011
Week ended
Sep 14, 2011		 Change from week ended
Sep 7, 2011 Sep 15, 2010
Marketable securities held in custody for foreign
    official and international accounts 1		 3,475,122 - 2,439 + 265,400 3,463,335
    U.S. Treasury securities 2,743,246 - 1,038 + 329,593 2,729,920
    Federal agency securities 2 731,876 - 1,401 - 64,193 733,416
Securities lent to dealers 11,028 - 580 + 3,811 11,147
    Overnight facility 3 11,028 - 580 + 3,811 11,147
        U.S. Treasury securities 10,467 - 631 + 4,599 10,622
        Federal agency debt securities 561 + 52 - 788 525
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 14, 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 67 3,910 7,574 0 ... 11,628
U.S. Treasury securities 2  
    Holdings 12,138 24,233 127,127 715,189 583,081 197,192 1,658,960
    Weekly changes - 2,503 + 2,503 + 1 + 3 + 3,350 + 7 + 3,361
Federal agency debt securities 3  
    Holdings 1,508 2,359 18,699 64,718 20,145 2,347 109,776
    Weekly changes 0 0 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 94,116 0 ... ... ... ... 94,116
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 14, 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 14, 2011
Net portfolio holdings of Maiden Lane LLC 1 18,269
 
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 2 734
Outstanding principal amount and accrued interest on loan payable to JPMorgan Chase & Co. 3 1,364
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 14, 2011
Net portfolio holdings of Maiden Lane II LLC 1 9,959
 
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 2 543
Deferred payment and accrued interest payable to subsidiaries of American International Group, Inc. 3 1,096
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 14, 2011
Net portfolio holdings of Maiden Lane III LLC 1 21,465
 
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 2 654
Outstanding principal amount and accrued interest on loan payable to American International Group, Inc. 3 5,489
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 14, 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 14, 2011		 Change since
Wednesday
Sep 7, 2011		 Wednesday
Sep 15, 2010
Assets  
    Gold certificate account   11,037 0 0
    Special drawing rights certificate account   5,200 0 0
    Coin   2,213 + 18 + 127
    Securities, repurchase agreements, and loans   2,665,309 + 3,327 + 571,313
        Securities held outright 1   2,653,681 + 3,361 + 612,282
            U.S. Treasury securities   1,658,960 + 3,361 + 864,314
                Bills 2   18,423 0 0
                Notes and bonds, nominal 2   1,564,270 + 3,345 + 835,247
                Notes and bonds, inflation-indexed 2   66,754 0 + 24,986
                Inflation compensation 3   9,513 + 16 + 4,081
            Federal agency debt securities 2   109,776 0 - 44,743
            Mortgage-backed securities 4   884,945 0 - 207,289
        Repurchase agreements 5   0 0 0
        Loans   11,628 - 33 - 40,970
    Net portfolio holdings of Maiden Lane LLC 6   18,269 + 12 - 10,169
    Net portfolio holdings of Maiden Lane II LLC 7   9,959 + 3 - 5,861
    Net portfolio holdings of Maiden Lane III LLC 8   21,465 + 59 - 1,556
    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 (110) 249 - 82 - 52
    Bank premises   2,184 + 1 - 42
    Central bank liquidity swaps 11   0 0 - 61
    Other assets 12   130,315 + 1,494 + 39,460
 
Total assets (110) 2,866,975 + 4,831 + 567,627
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 14, 2011		 Change since
Wednesday
Sep 7, 2011		 Wednesday
Sep 15, 2010
Liabilities  
    Federal Reserve notes, net of F.R. Bank holdings   998,153 - 3,372 + 86,896
    Reverse repurchase agreements 13   94,116 - 8,640 + 34,192
    Deposits (0) 1,702,361 + 17,176 + 447,915
        Term deposits held by depository institutions   0 0 - 2,119
        Other deposits held by depository institutions   1,620,658 + 10,421 + 686,058
        U.S. Treasury, General Account   16,083 - 6,758 - 98,485
        U.S. Treasury, Supplementary Financing Account   0 0 - 199,960
        Foreign official   2,630 - 612 - 162
        Other (0) 62,990 + 14,125 + 62,583
    Deferred availability cash items (110) 1,635 - 563 - 633
    Other liabilities and accrued dividends 14   18,807 + 230 + 3,878
 
Total liabilities (110) 2,815,071 + 4,830 + 572,247
 
Capital accounts  
    Capital paid in   25,952 + 1 - 721
    Surplus   25,952 + 1 + 89
    Other capital accounts   0 0 - 3,988
 
Total capital   51,904 + 1 - 4,620
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 14, 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 2,213 54 73 163 160 369 204 334 38 57 167 230 365
    Securities, repurchase agreements,
        and loans		 2,665,309 65,246 1,245,560 90,905 71,683 306,482 197,288 157,602 50,250 40,804 70,609 104,953 263,929
        Securities held outright 1 2,653,681 65,245 1,234,076 90,905 71,681 306,473 197,282 157,590 50,226 40,783 70,589 104,953 263,878
            U.S. Treasury securities 1,658,960 40,788 771,488 56,829 44,812 191,593 123,331 98,518 31,399 25,496 44,129 65,612 164,964
                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 1,640,537 40,335 762,920 56,198 44,314 189,465 121,962 97,424 31,050 25,213 43,639 64,883 163,133
            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 11,628 1 11,484 0 2 9 6 12 24 21 19 0 51
    Net portfolio holdings of Maiden
        Lane LLC 6		 18,269 0 18,269 0 0 0 0 0 0 0 0 0 0
    Net portfolio holdings of Maiden
        Lane II LLC 7		 9,959 0 9,959 0 0 0 0 0 0 0 0 0 0
    Net portfolio holdings of Maiden
        Lane III LLC 8		 21,465 0 21,465 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 359 25 0 51 106 7 35 32 7 16 8 18 55
    Bank premises 2,184 123 256 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 12 130,315 3,492 55,680 6,177 4,787 17,532 9,268 6,817 2,201 2,452 3,003 4,520 14,387
    Interdistrict settlement account 0 + 217 + 201,826 - 4,263 + 6,708 - 104,697 - 33,471 - 14,768 - 7,958 - 18,362 - 15,420 - 1,919 - 7,892
 
Total assets 2,867,086 69,742 1,559,545 93,742 84,256 221,212 175,586 151,500 45,142 25,358 59,098 109,057 272,847
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 14, 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 1,163,042 43,281 390,622 46,510 55,134 95,581 145,294 90,758 33,988 19,466 32,263 75,723 134,423
        Less: Notes held by F.R. Banks 164,888 5,614 43,986 6,937 8,111 12,065 24,970 13,378 4,370 5,473 3,703 11,181 25,100
            Federal Reserve notes, net 998,153 37,666 346,636 39,573 47,023 83,516 120,324 77,379 29,618 13,993 28,560 64,542 109,323
    Reverse repurchase agreements 13 94,116 2,314 43,768 3,224 2,542 10,869 6,997 5,589 1,781 1,446 2,504 3,722 9,359
    Deposits 1,702,361 27,568 1,139,089 45,701 30,207 114,754 44,649 66,456 13,028 9,112 27,211 39,598 144,987
        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		 1,620,658 27,560 1,057,585 45,697 30,203 114,646 44,644 66,427 13,003 9,110 27,210 39,597 144,975
        U.S. Treasury, General Account 16,083 0 16,083 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 2,630 1 2,601 4 3 8 2 1 0 1 0 1 6
        Other 62,990 7 62,820 0 1 100 2 28 24 0 1 0 6
    Deferred availability cash items 1,746 80 0 229 228 72 98 110 59 425 88 74 282
    Interest on Federal Reserve notes due
        to U.S. Treasury 14		 1,368 34 717 26 20 124 102 90 27 16 41 56 114
    Other liabilities and accrued
        dividends 15		 17,439 193 13,754 269 272 755 462 390 178 146 176 280 564
 
Total liabilities 2,815,182 67,857 1,543,964 89,021 80,292 210,091 172,632 150,015 44,691 25,138 58,580 108,272 264,629
 
Capital  
    Capital paid in 25,952 943 7,791 2,360 1,982 5,560 1,477 743 225 110 259 392 4,109
    Surplus 25,952 943 7,791 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 2,867,086 69,742 1,559,545 93,742 84,256 221,212 175,586 151,500 45,142 25,358 59,098 109,057 272,847
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 14, 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 14, 2011
Federal Reserve notes outstanding 1,163,042
    Less: Notes held by F.R. Banks not subject to collateralization 164,888
        Federal Reserve notes to be collateralized 998,153
Collateral held against Federal Reserve notes 998,153
    Gold certificate account 11,037
    Special drawing rights certificate account 5,200
    U.S. Treasury, agency debt, and mortgage-backed securities pledged 1,2 981,916
    Other assets pledged 0
Memo:  
Total U.S. Treasury, agency debt, and mortgage-backed securities 1,2 2,653,681
    Less: Face value of securities under reverse repurchase agreements 81,472
        U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 2,572,209
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 15, 2011