Federal Reserve Statistical Release, H.4.1, Factors Affecting Reserve Balances; title with eagle logo links to Statistical Release home page
Release Date:   December 1, 2011
Release dates | Historical data | Data Download Program (DDP) | About | Announcements
Current release  Other formats: Screen reader | ASCII | PDF (21 KB)

Try data download now image link

FEDERAL RESERVE statistical release

H.4.1

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

December 1, 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 30, 2011
Week ended
Nov 30, 2011		 Change from week ended
Nov 23, 2011 Dec 1, 2010
Reserve Bank credit 2,793,222 - 15,075 + 475,387 2,797,061
    Securities held outright 1 2,601,547 - 15,545 + 523,653 2,604,999
        U.S. Treasury securities 1,666,508 - 1,981 + 761,609 1,672,038
            Bills 2 18,423 0 0 18,423
            Notes and bonds, nominal 2 1,570,273 - 2,080 + 734,490 1,575,363
            Notes and bonds, inflation-indexed 2 67,993 + 71 + 23,117 68,420
            Inflation compensation 3 9,819 + 27 + 4,002 9,832
        Federal agency debt securities 2 105,909 - 866 - 42,269 105,909
        Mortgage-backed securities 4 829,130 - 12,698 - 195,687 827,052
    Repurchase agreements 5 0 0 0 0
    Loans 9,809 - 419 - 36,982 9,821
        Primary credit 42 + 17 - 149 113
        Secondary credit 0 0 0 0
        Seasonal credit 16 + 1 - 11 18
        Credit extended to American International
            Group, Inc., net 6		 0 0 - 20,922 0
        Term Asset-Backed Securities Loan Facility 7 9,751 - 437 - 15,900 9,691
        Other credit extensions 0 0 0 0
    Net portfolio holdings of Maiden Lane LLC 8 10,602 + 2 - 16,961 10,629
    Net portfolio holdings of Maiden Lane II LLC 9 9,349 + 7 - 6,955 9,379
    Net portfolio holdings of Maiden Lane III LLC 10 17,839 + 6 - 5,507 17,845
    Net portfolio holdings of TALF LLC 11 803 + 5 + 156 803
    Preferred interests in AIA Aurora LLC and ALICO
        Holdings LLC 6		 0 0 - 26,057 0
    Float -839 + 24 + 869 -1,004
    Central bank liquidity swaps 12 2,401 + 1 + 2,341 2,401
    Other Federal Reserve assets 13 141,711 + 843 + 40,830 142,187
Gold stock 11,041 0 0 11,041
Special drawing rights certificate account 5,200 0 0 5,200
Treasury currency outstanding 14 44,194 + 14 + 701 44,194
 
Total factors supplying reserve funds 2,853,657 - 15,060 + 476,088 2,857,496
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 30, 2011
Week ended
Nov 30, 2011		 Change from week ended
Nov 23, 2011 Dec 1, 2010
Currency in circulation 14 1,062,278 + 3,442 + 84,241 1,062,291
Reverse repurchase agreements 15 88,311 - 3,018 + 33,454 92,968
    Foreign official and international accounts 88,311 - 3,018 + 33,454 92,968
    Others 0 0 0 0
Treasury cash holdings 102 - 3 - 95 108
Deposits with F.R. Banks, other than reserve balances 111,192 - 30,574 - 130,035 146,162
    Term deposits held by depository institutions 5,055 0 + 5,055 5,055
    U.S. Treasury, General Account 43,770 - 577 + 8,392 85,605
    U.S. Treasury, Supplementary Financing Account 0 0 - 199,959 0
    Foreign official 186 - 1,011 - 2,798 165
    Service-related 2,505 0 + 139 2,505
        Required clearing balances 2,505 0 + 139 2,505
        Adjustments to compensate for float 0 0 0 0
    Other 59,675 - 28,987 + 59,135 52,831
Funds from American International Group, Inc. asset
    dispositions, held as agent 6		 0 0 - 26,774 0
Other liabilities and capital 16 71,470 + 85 - 1,175 71,214
 
Total factors, other than reserve balances,
    absorbing reserve funds		 1,333,354 - 30,066 - 40,384 1,372,742
 
Reserve balances with Federal Reserve Banks 1,520,303 + 15,006 + 516,472 1,484,753
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 30, 2011
Week ended
Nov 30, 2011		 Change from week ended
Nov 23, 2011 Dec 1, 2010
Marketable securities held in custody for foreign
    official and international accounts 1		 3,451,210 - 5,493 + 110,329 3,466,282
    U.S. Treasury securities 2,732,400 - 6,158 + 124,503 2,748,062
    Federal agency securities 2 718,809 + 665 - 14,174 718,221
Securities lent to dealers 11,827 + 533 + 3,821 13,569
    Overnight facility 3 11,827 + 533 + 3,821 13,569
        U.S. Treasury securities 10,600 + 620 + 3,841 12,305
        Federal agency debt securities 1,228 - 85 - 19 1,264
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 30, 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 1 119 11 4,131 5,560 0 ... 9,821
U.S. Treasury securities 2  
    Holdings 17,057 22,596 99,698 687,122 631,158 214,407 1,672,038
    Weekly changes - 412 - 4,572 + 2 + 12,126 - 2,454 + 2,553 + 7,243
Federal agency debt securities 3  
    Holdings 1,213 3,879 21,534 60,790 16,146 2,347 105,909
    Weekly changes + 1,213 - 1,213 0 0 0 0 0
Mortgage-backed securities 4  
    Holdings 0 0 0 12 22 827,018 827,052
    Weekly changes 0 0 0 0 0 - 14,547 - 14,548
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 7 553 1,848 0 0 0 0 2,401
   
Reverse repurchase agreements 6 92,968 0 ... ... ... ... 92,968
Term deposits 5,055 0 0 ... ... ... 5,055
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 30, 2011
Mortgage-backed securities held outright 1 827,052
 
Commitments to buy mortgage-backed securities 2 44,850
Commitments to sell mortgage-backed securities 2 0
 
Cash and cash equivalents 3 2
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 30, 2011
Net portfolio holdings of Maiden Lane LLC 1 10,629
 
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 2 751
Outstanding principal amount and accrued interest on loan payable to JPMorgan Chase & Co. 3 1,379
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 30, 2011
Net portfolio holdings of Maiden Lane II LLC 1 9,379
 
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 2 562
Deferred payment and accrued interest payable to subsidiaries of American International Group, Inc. 3 1,103
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 30, 2011
Net portfolio holdings of Maiden Lane III LLC 1 17,845
 
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 2 681
Outstanding principal amount and accrued interest on loan payable to American International Group, Inc. 3 5,526
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 30, 2011
Asset-backed securities holdings 1 0
Other investments, net 803
Net portfolio holdings of TALF LLC 803
 
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 30, 2011		 Change since
Wednesday
Nov 23, 2011		 Wednesday
Dec 1, 2010
Assets  
    Gold certificate account   11,037 0 0
    Special drawing rights certificate account   5,200 0 0
    Coin   2,247 - 2 + 154
    Securities, repurchase agreements, and loans   2,614,820 - 7,367 + 479,689
        Securities held outright 1   2,604,999 - 7,306 + 516,717
            U.S. Treasury securities   1,672,038 + 7,243 + 754,587
                Bills 2   18,423 0 0
                Notes and bonds, nominal 2   1,575,363 + 6,717 + 727,031
                Notes and bonds, inflation-indexed 2   68,420 + 498 + 23,544
                Inflation compensation 3   9,832 + 27 + 4,012
            Federal agency debt securities 2   105,909 0 - 42,269
            Mortgage-backed securities 4   827,052 - 14,548 - 195,601
        Repurchase agreements 5   0 0 0
        Loans   9,821 - 61 - 37,029
    Net portfolio holdings of Maiden Lane LLC 6   10,629 + 31 - 16,972
    Net portfolio holdings of Maiden Lane II LLC 7   9,379 + 35 - 6,958
    Net portfolio holdings of Maiden Lane III LLC 8   17,845 + 8 - 5,507
    Net portfolio holdings of TALF LLC 9   803 0 + 155
    Preferred interests in AIA Aurora LLC and ALICO
        Holdings LLC 10		   0 0 - 26,057
    Items in process of collection (78) 229 - 101 - 82
    Bank premises   2,187 + 7 - 28
    Central bank liquidity swaps 11   2,401 + 1 + 2,341
    Other assets 12   139,995 - 378 + 40,341
 
Total assets (78) 2,816,773 - 7,764 + 467,077
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 30, 2011		 Change since
Wednesday
Nov 23, 2011		 Wednesday
Dec 1, 2010
Liabilities  
    Federal Reserve notes, net of F.R. Bank holdings   1,020,447 - 304 + 84,056
    Reverse repurchase agreements 13   92,968 + 8,189 + 40,106
    Deposits (0) 1,630,910 - 15,780 + 371,237
        Term deposits held by depository institutions   5,055 0 + 5,055
        Other deposits held by depository institutions   1,487,253 - 4,576 + 476,410
        U.S. Treasury, General Account   85,605 + 51,070 + 40,133
        U.S. Treasury, Supplementary Financing Account   0 0 - 199,959
        Foreign official   165 + 41 - 2,789
        Other (0) 52,831 - 62,316 + 52,386
    Deferred availability cash items (78) 1,234 + 3 - 808
    Other liabilities and accrued dividends 14   17,252 + 91 - 25,457
 
Total liabilities (78) 2,762,811 - 7,801 + 469,135
 
Capital accounts  
    Capital paid in   26,981 + 18 + 189
    Surplus   26,981 + 18 + 1,071
    Other capital accounts   0 0 - 3,317
 
Total capital   53,962 + 37 - 2,057
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 30, 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 2,247 56 80 160 166 392 192 335 30 57 170 234 375
    Securities, repurchase agreements,
        and loans		 2,614,820 64,048 1,221,127 89,237 70,366 300,851 193,663 154,710 49,307 40,036 69,327 103,110 259,037
        Securities held outright 1 2,604,999 64,048 1,211,436 89,237 70,366 300,851 193,662 154,699 49,305 40,035 69,294 103,028 259,037
            U.S. Treasury securities 1,672,038 41,110 777,570 57,277 45,165 193,103 124,304 99,295 31,647 25,697 44,477 66,129 166,265
                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 1,653,616 40,657 769,002 56,646 44,668 190,976 122,934 98,201 31,298 25,414 43,987 65,401 164,433
            Federal agency debt securities 2 105,909 2,604 49,252 3,628 2,861 12,231 7,874 6,289 2,005 1,628 2,817 4,189 10,531
            Mortgage-backed securities 4 827,052 20,334 384,614 28,332 22,340 95,516 61,485 49,115 15,654 12,711 22,000 32,710 82,241
        Repurchase agreements 5 0 0 0 0 0 0 0 0 0 0 0 0 0
        Loans 9,821 0 9,691 0 0 0 1 11 2 1 32 82 0
    Net portfolio holdings of Maiden
        Lane LLC 6		 10,629 0 10,629 0 0 0 0 0 0 0 0 0 0
    Net portfolio holdings of Maiden
        Lane II LLC 7		 9,379 0 9,379 0 0 0 0 0 0 0 0 0 0
    Net portfolio holdings of Maiden
        Lane III LLC 8		 17,845 0 17,845 0 0 0 0 0 0 0 0 0 0
    Net portfolio holdings of TALF LLC 9 803 0 803 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 307 8 0 48 58 5 14 26 7 11 6 14 110
    Bank premises 2,187 122 262 67 126 233 214 206 134 105 259 246 213
    Central bank liquidity swaps 11 2,401 83 695 233 178 492 138 61 20 74 22 36 369
    Other assets 12 139,995 3,726 60,229 6,565 5,031 18,587 9,973 7,402 2,386 2,595 3,266 4,906 15,329
    Interdistrict settlement account 0 - 11,698 + 265,489 - 17,654 - 5,923 - 114,335 - 35,989 - 8,986 - 8,128 - 15,771 - 18,504 + 982 - 29,483
 
Total assets 2,816,851 56,932 1,592,223 79,297 70,689 207,510 170,252 155,033 44,225 27,394 55,016 110,538 247,742
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 30, 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 1,194,306 44,513 411,921 46,342 54,359 95,089 145,848 90,014 33,787 21,047 34,844 80,601 135,941
        Less: Notes held by F.R. Banks 173,859 5,168 48,521 6,756 10,513 11,364 27,035 12,743 4,180 5,200 3,635 12,383 26,360
            Federal Reserve notes, net 1,020,447 39,345 363,400 39,586 43,846 83,725 118,812 77,271 29,607 15,847 31,209 68,218 109,581
    Reverse repurchase agreements 13 92,968 2,286 43,234 3,185 2,511 10,737 6,912 5,521 1,760 1,429 2,473 3,677 9,245
    Deposits 1,630,910 13,131 1,155,099 31,222 19,878 101,022 40,896 70,213 12,186 9,426 20,566 37,445 119,826
        Term deposits held by depository
            institutions		 5,055 10 2,318 503 0 15 5 1,505 50 65 155 5 425
        Other deposits held by depository
            institutions		 1,487,253 13,113 1,014,389 30,715 19,875 100,871 40,888 68,674 12,131 9,358 20,409 37,438 119,392
        U.S. Treasury, General Account 85,605 0 85,605 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 165 1 136 4 3 8 2 1 0 1 0 1 6
        Other 52,831 7 52,651 1 0 128 1 34 4 2 1 1 3
    Deferred availability cash items 1,312 72 0 184 172 33 66 86 48 323 56 55 216
    Interest on Federal Reserve notes due
        to U.S. Treasury 14		 1,170 22 557 38 27 139 89 61 23 19 25 50 121
    Other liabilities and accrued
        dividends 15		 16,082 190 12,642 265 278 724 415 358 162 131 152 243 521
 
Total liabilities 2,762,889 55,046 1,574,932 74,481 66,713 196,380 167,189 153,511 43,785 27,175 54,481 109,688 239,510
 
Capital  
    Capital paid in 26,981 943 8,645 2,408 1,988 5,565 1,532 761 220 110 268 425 4,116
    Surplus 26,981 943 8,645 2,408 1,988 5,565 1,532 761 220 110 268 425 4,116
    Other capital 0 0 0 0 0 0 0 0 0 0 0 0 0
 
Total liabilities and capital 2,816,851 56,932 1,592,223 79,297 70,689 207,510 170,252 155,033 44,225 27,394 55,016 110,538 247,742
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 30, 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 30, 2011
Federal Reserve notes outstanding 1,194,306
    Less: Notes held by F.R. Banks not subject to collateralization 173,859
        Federal Reserve notes to be collateralized 1,020,447
Collateral held against Federal Reserve notes 1,020,447
    Gold certificate account 11,037
    Special drawing rights certificate account 5,200
    U.S. Treasury, agency debt, and mortgage-backed securities pledged 1,2 1,004,210
    Other assets pledged 0
Memo:  
Total U.S. Treasury, agency debt, and mortgage-backed securities 1,2 2,604,999
    Less: Face value of securities under reverse repurchase agreements 82,009
        U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 2,522,990
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.

Release dates | Historical data | Data Download Program (DDP) | About | Announcements
Current release   Other formats: Screen reader | ASCII | PDF (21 KB)

Statistical releases

Home | Economic research and data
Accessibility | Contact Us
Last update: December 1, 2011