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Release Date:   November 17, 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

November 17, 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
Nov 16, 2011
Week ended
Nov 16, 2011		 Change from week ended
Nov 9, 2011 Nov 17, 2010
Reserve Bank credit 2,820,045 + 8,412 + 526,917 2,814,103
    Securities held outright 1 2,624,059 + 8,019 + 569,923 2,625,316
        U.S. Treasury securities 1,668,748 + 9,637 + 809,568 1,675,836
            Bills 2 18,423 0 0 18,423
            Notes and bonds, nominal 2 1,572,638 + 10,961 + 780,602 1,579,718
            Notes and bonds, inflation-indexed 2 67,922 - 1,131 + 24,829 67,922
            Inflation compensation 3 9,766 - 192 + 4,138 9,774
        Federal agency debt securities 2 107,619 - 49 - 41,768 107,497
        Mortgage-backed securities 4 847,692 - 1,569 - 197,877 841,983
    Repurchase agreements 5 0 0 0 0
    Loans 10,520 - 99 - 36,045 10,504
        Primary credit 9 + 4 - 16 4
        Secondary credit 0 0 0 0
        Seasonal credit 20 - 4 0 17
        Credit extended to American International
            Group, Inc., net 6		 0 0 - 19,651 0
        Term Asset-Backed Securities Loan Facility 7 10,491 - 100 - 16,379 10,484
        Other credit extensions 0 0 0 0
    Net portfolio holdings of Maiden Lane LLC 8 12,302 - 670 - 15,790 10,600
    Net portfolio holdings of Maiden Lane II LLC 9 9,337 + 1 - 6,944 9,341
    Net portfolio holdings of Maiden Lane III LLC 10 18,060 + 11 - 5,264 17,832
    Net portfolio holdings of TALF LLC 11 794 0 + 172 794
    Preferred interests in AIA Aurora LLC and ALICO
        Holdings LLC 6		 0 0 - 26,057 0
    Float -1,158 - 350 + 775 -1,365
    Central bank liquidity swaps 12 2,349 + 404 + 2,285 2,349
    Other Federal Reserve assets 13 143,781 + 1,095 + 43,860 138,731
Gold stock 11,041 0 0 11,041
Special drawing rights certificate account 5,200 0 0 5,200
Treasury currency outstanding 14 44,166 + 14 + 692 44,166
 
Total factors supplying reserve funds 2,880,452 + 8,426 + 527,609 2,874,510
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
Nov 16, 2011
Week ended
Nov 16, 2011		 Change from week ended
Nov 9, 2011 Nov 17, 2010
Currency in circulation 14 1,057,619 + 5,470 + 84,085 1,058,154
Reverse repurchase agreements 15 93,682 + 600 + 38,937 96,829
    Foreign official and international accounts 93,682 + 600 + 38,937 96,829
    Others 0 0 0 0
Treasury cash holdings 111 0 - 57 106
Deposits with F.R. Banks, other than reserve balances 75,313 - 14,087 - 165,680 74,714
    Term deposits held by depository institutions 0 0 0 0
    U.S. Treasury, General Account 29,786 - 7,243 + 7,999 44,782
    U.S. Treasury, Supplementary Financing Account 0 0 - 199,959 0
    Foreign official 153 + 28 - 1,499 125
    Service-related 2,505 0 + 140 2,505
        Required clearing balances 2,505 0 + 140 2,505
        Adjustments to compensate for float 0 0 0 0
    Other 42,868 - 6,873 + 27,638 27,302
Funds from American International Group, Inc. asset
    dispositions, held as agent 6		 0 0 - 26,761 0
Other liabilities and capital 16 69,909 + 1,245 - 2,996 69,644
 
Total factors, other than reserve balances,
    absorbing reserve funds		 1,296,634 - 6,772 - 72,473 1,299,447
 
Reserve balances with Federal Reserve Banks 1,583,818 + 15,198 + 600,082 1,575,063
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
Nov 16, 2011
Week ended
Nov 16, 2011		 Change from week ended
Nov 9, 2011 Nov 17, 2010
Marketable securities held in custody for foreign
    official and international accounts 1		 3,453,711 + 11,062 + 112,798 3,469,106
    U.S. Treasury securities 2,732,773 + 12,543 + 122,212 2,750,373
    Federal agency securities 2 720,938 - 1,481 - 9,414 718,733
Securities lent to dealers 11,329 + 357 + 6,362 11,670
    Overnight facility 3 11,329 + 357 + 6,362 11,670
        U.S. Treasury securities 10,179 + 255 + 6,521 10,365
        Federal agency debt securities 1,150 + 103 - 159 1,305
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, November 16, 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 20 0 4,291 6,193 0 ... 10,504
U.S. Treasury securities 2  
    Holdings 20,989 14,869 117,004 692,252 604,361 226,362 1,675,836
    Weekly changes + 7,124 - 12,633 + 1,471 + 12,982 - 8,601 + 7,383 + 7,725
Federal agency debt securities 3  
    Holdings 1,588 4,411 20,446 62,559 16,146 2,347 107,497
    Weekly changes - 171 0 + 850 - 850 0 0 - 171
Mortgage-backed securities 4  
    Holdings 0 0 0 12 22 841,948 841,983
    Weekly changes 0 0 0 0 - 1 - 7,277 - 7,278
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 7 501 1,848 0 0 0 0 2,349
   
Reverse repurchase agreements 6 96,829 0 ... ... ... ... 96,829
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
Millions of dollars
Account name Wednesday
Nov 16, 2011
Mortgage-backed securities held outright 1 841,983
 
Commitments to buy mortgage-backed securities 2 33,261
Commitments to sell mortgage-backed securities 2 0
 
Cash and cash equivalents 3 21
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
Nov 16, 2011
Net portfolio holdings of Maiden Lane LLC 1 10,600
 
Outstanding principal amount of loan extended by the Federal Reserve Bank of New York 2 7,523
Accrued interest payable to the Federal Reserve Bank of New York 2 749
Outstanding principal amount and accrued interest on loan payable to JPMorgan Chase & Co. 3 1,376
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 September 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
Nov 16, 2011
Net portfolio holdings of Maiden Lane II LLC 1 9,341
 
Outstanding principal amount of loan extended by the Federal Reserve Bank of New York 2 6,368
Accrued interest payable to the Federal Reserve Bank of New York 2 558
Deferred payment and accrued interest payable to subsidiaries of American International Group, Inc. 3 1,102
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 September 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
Nov 16, 2011
Net portfolio holdings of Maiden Lane III LLC 1 17,832
 
Outstanding principal amount of loan extended by the Federal Reserve Bank of New York 2 9,406
Accrued interest payable to the Federal Reserve Bank of New York 2 676
Outstanding principal amount and accrued interest on loan payable to American International Group, Inc. 3 5,519
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 September 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
Nov 16, 2011
Asset-backed securities holdings 1 0
Other investments, net 794
Net portfolio holdings of TALF LLC 794
 
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
Nov 16, 2011		 Change since
Wednesday
Nov 9, 2011		 Wednesday
Nov 17, 2010
Assets  
    Gold certificate account   11,037 0 0
    Special drawing rights certificate account   5,200 0 0
    Coin   2,282 - 14 + 158
    Securities, repurchase agreements, and loans   2,635,820 + 175 + 527,927
        Securities held outright 1   2,625,316 + 276 + 564,426
            U.S. Treasury securities   1,675,836 + 7,725 + 802,218
                Bills 2   18,423 0 0
                Notes and bonds, nominal 2   1,579,718 + 9,273 + 773,400
                Notes and bonds, inflation-indexed 2   67,922 - 1,330 + 24,675
                Inflation compensation 3   9,774 - 218 + 4,143
            Federal agency debt securities 2   107,497 - 171 - 41,497
            Mortgage-backed securities 4   841,983 - 7,278 - 196,295
        Repurchase agreements 5   0 0 0
        Loans   10,504 - 101 - 36,499
    Net portfolio holdings of Maiden Lane LLC 6   10,600 - 2,379 - 16,928
    Net portfolio holdings of Maiden Lane II LLC 7   9,341 + 4 - 6,944
    Net portfolio holdings of Maiden Lane III LLC 8   17,832 - 322 - 5,507
    Net portfolio holdings of TALF LLC 9   794 0 + 172
    Preferred interests in AIA Aurora LLC and ALICO
        Holdings LLC 10		   0 0 - 26,057
    Items in process of collection (105) 201 - 106 - 148
    Bank premises   2,181 + 2 - 44
    Central bank liquidity swaps 11   2,349 + 389 + 2,284
    Other assets 12   136,549 - 5,980 + 41,558
 
Total assets (105) 2,834,186 - 8,231 + 516,470
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
Nov 16, 2011		 Change since
Wednesday
Nov 9, 2011		 Wednesday
Nov 17, 2010
Liabilities  
    Federal Reserve notes, net of F.R. Bank holdings   1,016,372 + 1,180 + 83,995
    Reverse repurchase agreements 13   96,829 + 9,181 + 42,630
    Deposits (0) 1,649,775 - 19,605 + 420,116
        Term deposits held by depository institutions   0 0 0
        Other deposits held by depository institutions   1,577,567 - 16,070 + 588,701
        U.S. Treasury, General Account   44,782 + 20,589 + 6,077
        U.S. Treasury, Supplementary Financing Account   0 0 - 199,959
        Foreign official   125 0 - 1,616
        Other (0) 27,302 - 24,123 + 26,915
    Deferred availability cash items (105) 1,566 + 85 - 743
    Other liabilities and accrued dividends 14   17,477 + 868 - 25,383
 
Total liabilities (105) 2,782,020 - 8,290 + 520,616
 
Capital accounts  
    Capital paid in   26,083 + 30 - 656
    Surplus   26,083 + 30 + 168
    Other capital accounts   0 0 - 3,658
 
Total capital   52,166 + 59 - 4,146
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, November 16, 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 2,282 57 85 162 167 394 204 336 33 58 171 236 379
    Securities, repurchase agreements,
        and loans		 2,635,820 64,547 1,231,368 89,933 70,915 303,197 195,173 155,911 49,690 40,351 69,843 103,832 261,058
        Securities held outright 1 2,625,316 64,547 1,220,885 89,933 70,915 303,197 195,173 155,906 49,689 40,347 69,835 103,831 261,057
            U.S. Treasury securities 1,675,836 41,203 779,336 57,408 45,268 193,542 124,586 99,520 31,719 25,755 44,578 66,279 166,643
                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 1,657,413 40,750 770,768 56,776 44,770 191,414 123,216 98,426 31,370 25,472 44,088 65,551 164,811
            Federal agency debt securities 2 107,497 2,643 49,991 3,682 2,904 12,415 7,992 6,384 2,035 1,652 2,859 4,252 10,689
            Mortgage-backed securities 4 841,983 20,701 391,558 28,843 22,744 97,240 62,595 50,002 15,936 12,940 22,397 33,300 83,725
        Repurchase agreements 5 0 0 0 0 0 0 0 0 0 0 0 0 0
        Loans 10,504 0 10,484 0 0 0 1 6 1 4 8 0 1
    Net portfolio holdings of Maiden
        Lane LLC 6		 10,600 0 10,600 0 0 0 0 0 0 0 0 0 0
    Net portfolio holdings of Maiden
        Lane II LLC 7		 9,341 0 9,341 0 0 0 0 0 0 0 0 0 0
    Net portfolio holdings of Maiden
        Lane III LLC 8		 17,832 0 17,832 0 0 0 0 0 0 0 0 0 0
    Net portfolio holdings of TALF LLC 9 794 0 794 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 306 11 0 62 73 6 -93 32 7 24 7 18 159
    Bank premises 2,181 122 257 67 126 233 214 206 134 105 259 246 212
    Central bank liquidity swaps 11 2,349 81 680 228 174 482 135 60 19 73 21 36 361
    Other assets 12 136,549 3,644 58,597 6,463 4,946 18,208 9,705 7,186 2,310 2,543 3,170 4,775 15,002
    Interdistrict settlement account 0 + 3,716 + 225,489 - 11,599 + 2,745 - 122,302 - 31,148 - 7,966 - 7,156 - 15,595 - 17,332 + 3,850 - 22,704
 
Total assets 2,834,291 72,764 1,560,727 85,958 79,833 201,502 176,238 157,042 45,507 27,846 56,611 114,002 256,259
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, November 16, 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 1,186,224 44,236 402,932 46,405 54,565 95,483 145,793 90,395 33,779 21,015 35,009 80,874 135,739
        Less: Notes held by F.R. Banks 169,852 5,342 45,324 6,950 10,307 11,672 25,896 12,876 4,308 5,423 3,802 12,025 25,928
            Federal Reserve notes, net 1,016,372 38,894 357,608 39,455 44,258 83,811 119,897 77,519 29,471 15,591 31,207 68,850 109,811
    Reverse repurchase agreements 13 96,829 2,381 45,030 3,317 2,616 11,183 7,199 5,750 1,833 1,488 2,576 3,830 9,629
    Deposits 1,649,775 29,293 1,129,237 37,795 28,458 94,441 45,492 71,694 13,498 10,135 22,028 40,120 127,584
        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		 1,577,567 29,289 1,057,250 37,830 28,455 94,290 45,489 71,659 13,458 10,132 22,021 40,119 127,575
        U.S. Treasury, General Account 44,782 0 44,782 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 125 1 97 4 3 8 2 1 0 1 0 1 6
        Other 27,302 3 27,109 -38 1 143 0 34 40 2 6 0 3
    Deferred availability cash items 1,671 87 0 260 212 58 97 114 68 256 93 94 332
    Interest on Federal Reserve notes due
        to U.S. Treasury 14		 1,215 32 514 46 38 165 71 79 33 21 35 53 130
    Other liabilities and accrued
        dividends 15		 16,262 191 12,738 268 275 724 426 364 167 136 165 259 548
 
Total liabilities 2,782,125 70,879 1,545,128 81,142 75,857 190,381 173,182 155,520 45,069 27,627 56,103 113,204 248,035
 
Capital  
    Capital paid in 26,083 943 7,800 2,408 1,988 5,561 1,528 761 219 110 254 399 4,112
    Surplus 26,083 943 7,800 2,408 1,988 5,561 1,528 761 219 110 254 399 4,112
    Other capital 0 0 0 0 0 0 0 0 0 0 0 0 0
 
Total liabilities and capital 2,834,291 72,764 1,560,727 85,958 79,833 201,502 176,238 157,042 45,507 27,846 56,611 114,002 256,259
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, November 16, 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
Nov 16, 2011
Federal Reserve notes outstanding 1,186,224
    Less: Notes held by F.R. Banks not subject to collateralization 169,852
        Federal Reserve notes to be collateralized 1,016,372
Collateral held against Federal Reserve notes 1,016,372
    Gold certificate account 11,037
    Special drawing rights certificate account 5,200
    U.S. Treasury, agency debt, and mortgage-backed securities pledged 1,2 1,000,136
    Other assets pledged 0
Memo:  
Total U.S. Treasury, agency debt, and mortgage-backed securities 1,2 2,625,316
    Less: Face value of securities under reverse repurchase agreements 84,329
        U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 2,540,987
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: November 17, 2011