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Release Date:   October 13, 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

October 13, 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
Oct 12, 2011
Week ended
Oct 12, 2011		 Change from week ended
Oct 5, 2011 Oct 13, 2010
Reserve Bank credit 2,839,886 + 4,212 + 546,692 2,843,003
    Securities held outright 1 2,645,797 + 604 + 592,551 2,647,918
        U.S. Treasury securities 1,666,645 + 604 + 845,494 1,668,766
            Bills 2 18,423 0 0 18,423
            Notes and bonds, nominal 2 1,569,323 - 1,083 + 814,422 1,571,429
            Notes and bonds, inflation-indexed 2 68,966 + 1,418 + 26,648 68,966
            Inflation compensation 3 9,934 + 269 + 4,425 9,949
        Federal agency debt securities 2 108,268 0 - 45,288 108,268
        Mortgage-backed securities 4 870,883 0 - 207,656 870,883
    Repurchase agreements 5 0 0 0 0
    Loans 11,374 - 32 - 37,747 11,393
        Primary credit 38 + 12 + 23 70
        Secondary credit 1 + 1 + 1 5
        Seasonal credit 61 - 15 + 6 56
        Credit extended to American International
            Group, Inc., net 6		 0 0 - 19,796 0
        Term Asset-Backed Securities Loan Facility 7 11,273 - 30 - 17,982 11,262
        Other credit extensions 0 0 0 0
    Net portfolio holdings of Maiden Lane LLC 8 15,487 + 1 - 13,024 15,495
    Net portfolio holdings of Maiden Lane II LLC 9 9,853 - 104 - 5,821 9,855
    Net portfolio holdings of Maiden Lane III LLC 10 21,243 + 62 - 1,546 21,294
    Net portfolio holdings of TALF LLC 11 785 0 + 184 785
    Preferred interests in AIA Aurora LLC and ALICO
        Holdings LLC 6		 0 0 - 26,057 0
    Float -1,164 - 113 + 567 -1,978
    Central bank liquidity swaps 12 500 0 + 440 500
    Other Federal Reserve assets 13 136,013 + 3,796 + 37,147 137,741
Gold stock 11,041 0 0 11,041
Special drawing rights certificate account 5,200 0 0 5,200
Treasury currency outstanding 14 44,149 + 14 + 712 44,149
 
Total factors supplying reserve funds 2,900,276 + 4,226 + 547,404 2,903,392
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
Oct 12, 2011
Week ended
Oct 12, 2011		 Change from week ended
Oct 5, 2011 Oct 13, 2010
Currency in circulation 14 1,045,001 + 6,035 + 82,897 1,045,077
Reverse repurchase agreements 15 76,850 - 7,247 + 15,129 73,484
    Foreign official and international accounts 76,850 - 7,247 + 15,129 73,484
    Others 0 0 0 0
Treasury cash holdings 132 + 7 - 93 142
Deposits with F.R. Banks, other than reserve balances 82,113 - 15,424 - 151,503 80,544
    Term deposits held by depository institutions 5,077 0 - 36 5,077
    U.S. Treasury, General Account 21,906 - 21,749 - 874 17,681
    U.S. Treasury, Supplementary Financing Account 0 0 - 199,962 0
    Foreign official 127 - 1,443 - 1,268 126
    Service-related 2,512 - 2 + 112 2,512
        Required clearing balances 2,512 - 2 + 112 2,512
        Adjustments to compensate for float 0 0 0 0
    Other 52,491 + 7,769 + 50,526 55,148
Funds from American International Group, Inc. asset
    dispositions, held as agent 6		 0 0 0 0
Other liabilities and capital 16 71,576 + 641 - 1,421 71,284
 
Total factors, other than reserve balances,
    absorbing reserve funds		 1,275,672 - 15,988 - 54,990 1,270,531
 
Reserve balances with Federal Reserve Banks 1,624,604 + 20,214 + 602,394 1,632,861
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
Oct 12, 2011
Week ended
Oct 12, 2011		 Change from week ended
Oct 5, 2011 Oct 13, 2010
Marketable securities held in custody for foreign
    official and international accounts 1		 3,403,651 - 20,971 + 136,606 3,402,075
    U.S. Treasury securities 2,680,422 - 20,520 + 162,533 2,678,963
    Federal agency securities 2 723,229 - 451 - 25,927 723,112
Securities lent to dealers 9,791 - 4,825 + 2,292 10,829
    Overnight facility 3 9,791 - 4,825 + 2,292 10,829
        U.S. Treasury securities 8,640 - 5,046 + 2,835 9,600
        Federal agency debt securities 1,152 + 222 - 542 1,229
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, October 12, 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 83 47 4,226 7,036 0 ... 11,393
U.S. Treasury securities 2  
    Holdings 12,138 26,430 121,847 717,664 583,824 206,864 1,668,766
    Weekly changes - 2,503 + 2,504 - 8,865 + 9 + 25 + 5,814 - 3,018
Federal agency debt securities 3  
    Holdings 600 5,267 19,655 62,254 18,145 2,347 108,268
    Weekly changes 0 + 1,593 - 934 - 659 0 0 0
Mortgage-backed securities 4  
    Holdings 0 0 0 13 22 870,848 870,883
    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 7 500 0 0 0 0 0 500
   
Reverse repurchase agreements 6 73,484 0 ... ... ... ... 73,484
Term deposits 5,077 0 0 ... ... ... 5,077
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
Millions of dollars
Account name Wednesday
Oct 12, 2011
Mortgage-backed securities held outright 1 870,883
 
Commitments to buy mortgage-backed securities 2 9,150
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
Oct 12, 2011
Net portfolio holdings of Maiden Lane LLC 1 15,495
 
Outstanding principal amount of loan extended by the Federal Reserve Bank of New York 2 12,212
Accrued interest payable to the Federal Reserve Bank of New York 2 741
Outstanding principal amount and accrued interest on loan payable to JPMorgan Chase & Co. 3 1,369
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
Oct 12, 2011
Net portfolio holdings of Maiden Lane II LLC 1 9,855
 
Outstanding principal amount of loan extended by the Federal Reserve Bank of New York 2 6,507
Accrued interest payable to the Federal Reserve Bank of New York 2 550
Deferred payment and accrued interest payable to subsidiaries of American International Group, Inc. 3 1,098
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
Oct 12, 2011
Net portfolio holdings of Maiden Lane III LLC 1 21,294
 
Outstanding principal amount of loan extended by the Federal Reserve Bank of New York 2 10,221
Accrued interest payable to the Federal Reserve Bank of New York 2 664
Outstanding principal amount and accrued interest on loan payable to American International Group, Inc. 3 5,502
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
Oct 12, 2011
Asset-backed securities holdings 1 0
Other investments, net 785
Net portfolio holdings of TALF LLC 785
 
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 3 109
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
Oct 12, 2011		 Change since
Wednesday
Oct 5, 2011		 Wednesday
Oct 13, 2010
Assets  
    Gold certificate account   11,037 0 0
    Special drawing rights certificate account   5,200 0 0
    Coin   2,255 - 2 + 149
    Securities, repurchase agreements, and loans   2,659,311 - 3,021 + 558,096
        Securities held outright 1   2,647,918 - 3,018 + 596,041
            U.S. Treasury securities   1,668,766 - 3,018 + 847,610
                Bills 2   18,423 0 0
                Notes and bonds, nominal 2   1,571,429 - 4,648 + 816,528
                Notes and bonds, inflation-indexed 2   68,966 + 1,369 + 26,648
                Inflation compensation 3   9,949 + 261 + 4,435
            Federal agency debt securities 2   108,268 0 - 43,914
            Mortgage-backed securities 4   870,883 0 - 207,656
        Repurchase agreements 5   0 0 0
        Loans   11,393 - 3 - 37,945
    Net portfolio holdings of Maiden Lane LLC 6   15,495 + 10 - 13,024
    Net portfolio holdings of Maiden Lane II LLC 7   9,855 + 3 - 5,821
    Net portfolio holdings of Maiden Lane III LLC 8   21,294 + 59 - 1,540
    Net portfolio holdings of TALF LLC 9   785 0 + 184
    Preferred interests in AIA Aurora LLC and ALICO
        Holdings LLC 10		   0 0 - 26,057
    Items in process of collection (137) 282 + 19 - 171
    Bank premises   2,182 + 1 - 42
    Central bank liquidity swaps 11   500 0 + 440
    Other assets 12   135,574 + 3,869 + 38,536
 
Total assets (137) 2,863,770 + 938 + 550,751
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
Oct 12, 2011		 Change since
Wednesday
Oct 5, 2011		 Wednesday
Oct 13, 2010
Liabilities  
    Federal Reserve notes, net of F.R. Bank holdings   1,003,322 + 2,654 + 80,742
    Reverse repurchase agreements 13   73,484 - 9,344 + 13,511
    Deposits (0) 1,713,420 + 6,055 + 458,190
        Term deposits held by depository institutions   5,077 0 - 36
        Other deposits held by depository institutions   1,635,388 + 8,791 + 606,617
        U.S. Treasury, General Account   17,681 - 13,942 + 2,044
        U.S. Treasury, Supplementary Financing Account   0 0 - 199,962
        Foreign official   126 - 93 - 1,089
        Other (0) 55,148 + 11,298 + 50,617
    Deferred availability cash items (137) 2,260 + 743 - 1,070
    Other liabilities and accrued dividends 14   19,247 + 827 + 4,226
 
Total liabilities (137) 2,811,733 + 934 + 555,599
 
Capital accounts  
    Capital paid in   26,019 + 3 - 676
    Surplus   26,019 + 3 + 133
    Other capital accounts   0 0 - 4,303
 
Total capital   52,037 + 4 - 4,847
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, October 12, 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 2,255 54 82 163 163 385 207 336 33 57 168 236 371
    Securities, repurchase agreements,
        and loans		 2,659,311 65,103 1,242,663 90,708 71,526 305,808 196,858 157,297 50,122 40,715 70,451 104,757 263,305
        Securities held outright 1 2,647,918 65,103 1,231,395 90,707 71,526 305,808 196,853 157,248 50,117 40,695 70,436 104,725 263,305
            U.S. Treasury securities 1,668,766 41,029 776,048 57,165 45,077 192,726 124,060 99,100 31,585 25,646 44,390 66,000 165,940
                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 1,650,344 40,576 767,481 56,534 44,579 190,598 122,691 98,006 31,236 25,363 43,900 65,271 164,108
            Federal agency debt securities 2 108,268 2,662 50,349 3,709 2,925 12,504 8,049 6,430 2,049 1,664 2,880 4,282 10,766
            Mortgage-backed securities 4 870,883 21,412 404,998 29,833 23,524 100,578 64,744 51,718 16,483 13,384 23,166 34,444 86,599
        Repurchase agreements 5 0 0 0 0 0 0 0 0 0 0 0 0 0
        Loans 11,393 0 11,267 1 0 0 5 49 5 20 15 31 0
    Net portfolio holdings of Maiden
        Lane LLC 6		 15,495 0 15,495 0 0 0 0 0 0 0 0 0 0
    Net portfolio holdings of Maiden
        Lane II LLC 7		 9,855 0 9,855 0 0 0 0 0 0 0 0 0 0
    Net portfolio holdings of Maiden
        Lane III LLC 8		 21,294 0 21,294 0 0 0 0 0 0 0 0 0 0
    Net portfolio holdings of TALF LLC 9 785 0 785 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 419 25 0 58 97 8 37 38 8 33 8 21 87
    Bank premises 2,182 123 256 67 126 234 214 205 134 106 260 246 212
    Central bank liquidity swaps 11 500 17 145 48 37 103 29 13 4 15 5 8 77
    Other assets 12 135,574 3,626 58,132 6,336 4,938 18,130 9,654 7,125 2,308 2,537 3,138 4,728 14,921
    Interdistrict settlement account 0 + 5,965 + 281,009 - 14,906 - 1,148 - 134,132 - 37,024 - 21,191 - 8,744 - 17,033 - 18,635 + 1,737 - 35,900
 
Total assets 2,863,907 75,499 1,635,398 83,117 76,426 191,820 172,022 145,101 44,335 26,717 55,866 112,742 244,863
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, October 12, 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 1,169,759 43,154 388,894 46,557 54,858 95,488 146,246 90,508 33,919 20,951 34,670 79,524 134,990
        Less: Notes held by F.R. Banks 166,437 5,502 44,990 6,761 8,693 11,688 26,484 13,029 4,409 5,455 3,803 10,850 24,773
            Federal Reserve notes, net 1,003,322 37,652 343,904 39,797 46,165 83,800 119,762 77,479 29,510 15,496 30,867 68,674 110,217
    Reverse repurchase agreements 13 73,484 1,807 34,173 2,517 1,985 8,487 5,463 4,364 1,391 1,129 1,955 2,906 7,307
    Deposits 1,713,420 33,782 1,227,134 35,236 23,702 87,351 43,163 61,107 12,679 9,260 22,173 39,927 117,907
        Term deposits held by depository
            institutions		 5,077 20 1,270 605 0 2,015 0 555 0 60 1 6 545
        Other deposits held by depository
            institutions		 1,635,388 33,740 1,153,189 34,627 23,698 85,139 43,161 60,522 12,675 9,197 22,170 39,920 117,350
        U.S. Treasury, General Account 17,681 0 17,681 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 126 1 98 4 3 8 2 1 0 1 0 1 6
        Other 55,148 21 54,897 0 1 189 0 29 4 2 1 0 6
    Deferred availability cash items 2,397 126 0 399 273 72 128 151 99 439 141 114 456
    Interest on Federal Reserve notes due
        to U.S. Treasury 14		 2,125 61 964 93 69 266 143 114 34 40 47 72 221
    Other liabilities and accrued
        dividends 15		 17,122 187 13,626 260 267 722 430 364 171 134 166 262 535
 
Total liabilities 2,811,870 73,614 1,619,800 78,302 72,461 180,696 169,088 143,579 43,884 26,498 55,348 111,955 236,644
 
Capital  
    Capital paid in 26,019 943 7,799 2,407 1,982 5,562 1,467 761 225 109 259 394 4,110
    Surplus 26,019 943 7,799 2,407 1,982 5,562 1,467 761 225 109 259 394 4,110
    Other capital 0 0 0 0 0 0 0 0 0 0 0 0 0
 
Total liabilities and capital 2,863,907 75,499 1,635,398 83,117 76,426 191,820 172,022 145,101 44,335 26,717 55,866 112,742 244,863
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, October 12, 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
Oct 12, 2011
Federal Reserve notes outstanding 1,169,759
    Less: Notes held by F.R. Banks not subject to collateralization 166,437
        Federal Reserve notes to be collateralized 1,003,322
Collateral held against Federal Reserve notes 1,003,322
    Gold certificate account 11,037
    Special drawing rights certificate account 5,200
    U.S. Treasury, agency debt, and mortgage-backed securities pledged 1,2 987,085
    Other assets pledged 0
Memo:  
Total U.S. Treasury, agency debt, and mortgage-backed securities 1,2 2,647,918
    Less: Face value of securities under reverse repurchase agreements 64,774
        U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 2,583,143
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: October 13, 2011