FRB: H.4.1 Release--Factors Affecting Reserve Balances--December 29, 2011

FEDERAL RESERVE statistical release
H.4.1
Factors Affecting Reserve Balances of Depository Institutions and
Condition Statement of Federal Reserve Banks
December 29, 2011

1. Factors Affecting Reserve Balances of Depository Institutions
Millions of dollars
Reserve Bank credit, related items, and Averages of daily figures Wednesday
reserve balances of depository institutions at Week ended Change from week ended Dec 28, 2011
Federal Reserve Banks Dec 28, 2011 Dec 21, 2011 Dec 29, 2010

Reserve Bank credit 2,920,316 + 35,371 + 512,794 2,908,581
Securities held outright (1) 2,623,796 - 4,864 + 464,619 2,613,382
U.S. Treasury securities 1,671,444 - 2,393 + 661,159 1,672,092
Bills (2) 18,423 0 0 18,423
Notes and bonds, nominal (2) 1,574,925 - 2,355 + 637,359 1,575,584
Notes and bonds, inflation-indexed (2) 68,468 0 + 20,343 68,468
Inflation compensation (3) 9,628 - 39 + 3,456 9,617
Federal agency debt securities (2) 104,596 - 100 - 42,864 103,994
Mortgage-backed securities (4) 847,756 - 2,371 - 153,676 837,295
Repurchase agreements (5) 0 0 0 0
Loans 9,108 - 440 - 36,004 9,082
Primary credit 12 - 1 - 40 42
Secondary credit 1 + 1 - 14 0
Seasonal credit 26 0 + 2 28
Credit extended to American International
Group, Inc., net (6) 0 0 - 20,278 0
Term Asset-Backed Securities Loan Facility (7) 9,069 - 440 - 15,674 9,013
Other credit extensions 0 0 0 0
Net portfolio holdings of Maiden Lane LLC (8) 7,234 + 20 - 19,701 7,228
Net portfolio holdings of Maiden Lane II LLC (9) 9,249 + 10 - 6,908 9,281
Net portfolio holdings of Maiden Lane III LLC (10) 17,734 + 13 - 5,397 17,739
Net portfolio holdings of TALF LLC (11) 811 + 7 + 146 811
Preferred interests in AIA Aurora LLC and ALICO
Holdings LLC (6) 0 0 - 26,057 0
Float -654 + 215 + 758 -1,136
Central bank liquidity swaps (12) 99,823 + 37,224 + 99,748 99,823
Other Federal Reserve assets (13) 153,216 + 3,188 + 41,592 152,371
Gold stock 11,041 0 0 11,041
Special drawing rights certificate account 5,200 0 0 5,200
Treasury currency outstanding (14) 44,250 + 14 + 711 44,250

Total factors supplying reserve funds 2,980,807 + 35,385 + 513,506 2,969,071

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 Averages of daily figures Wednesday
reserve balances of depository institutions at Week ended Change from week ended Dec 28, 2011
Federal Reserve Banks Dec 28, 2011 Dec 21, 2011 Dec 29, 2010

Currency in circulation (14) 1,073,645 + 7,150 + 89,974 1,076,340
Reverse repurchase agreements (15) 90,843 + 3,616 + 35,080 88,674
Foreign official and international accounts 90,843 + 3,616 + 35,080 88,674
Others 0 0 0 0
Treasury cash holdings 121 + 5 - 63 128
Deposits with F.R. Banks, other than reserve balances 208,803 - 310 - 91,427 165,149
Term deposits held by depository institutions 0 0 - 5,113 0
U.S. Treasury, General Account 98,652 - 13,752 + 11,180 91,418
U.S. Treasury, Supplementary Financing Account 0 0 - 199,963 0
Foreign official 178 - 12 - 3,971 378
Service-related 2,488 - 1 + 133 2,488
Required clearing balances 2,488 - 1 + 133 2,488
Adjustments to compensate for float 0 0 0 0
Other 107,484 + 13,454 + 106,305 70,866
Funds from American International Group, Inc. asset
dispositions, held as agent (6) 0 0 - 26,896 0
Other liabilities and capital (16) 72,989 + 487 - 468 71,870

Total factors, other than reserve balances,
absorbing reserve funds 1,446,401 + 10,948 + 6,199 1,402,160

Reserve balances with Federal Reserve Banks 1,534,406 + 24,438 + 507,307 1,566,911

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
Averages of daily figures Wednesday
Week ended Change from week ended Dec 28, 2011
Memorandum item Dec 28, 2011 Dec 21, 2011 Dec 29, 2010

Marketable securities held in custody for foreign
official and international accounts (1) 3,420,192 - 20,282 + 69,867 3,411,007
U.S. Treasury securities 2,688,487 - 24,281 + 72,100 2,679,204
Federal agency securities (2) 731,705 + 3,999 - 2,233 731,803
Securities lent to dealers 16,244 + 1,443 + 5,614 14,009
Overnight facility (3) 16,244 + 1,443 + 5,614 14,009
U.S. Treasury securities 14,993 + 1,335 + 5,612 12,794
Federal agency debt securities 1,251 + 108 + 2 1,215

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, December 28, 2011
Millions of dollars
Within 15 16 days to 91 days to Over 1 year Over 5 years Over 10 All
Remaining maturity days 90 days 1 year to 5 years to 10 years years

Loans (1) 70 1 4,355 4,657 0 ... 9,082
U.S. Treasury securities (2)
Holdings 17,847 25,506 87,285 650,378 660,486 230,591 1,672,092
Weekly changes + 2,156 - 2,156 - 2 - 16,743 + 4,607 - 19 - 12,157
Federal agency debt securities (3)
Holdings 1,751 5,765 19,695 60,603 13,833 2,347 103,994
Weekly changes + 1,049 + 763 - 14 - 2,500 0 0 - 702
Mortgage-backed securities (4)
Holdings 0 0 0 13 34 837,248 837,295
Weekly changes 0 0 0 - 1 0 - 14,429 - 14,431
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) 43,712 56,111 0 0 0 0 99,823

Reverse repurchase agreements (6) 88,674 0 ... ... ... ... 88,674
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
Wednesday
Account name Dec 28, 2011

Mortgage-backed securities held outright (1) 837,295

Commitments to buy mortgage-backed securities (2) 39,970
Commitments to sell mortgage-backed securities (2) 4,350

Cash and cash equivalents (3) 293

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
Wednesday
Account name Dec 28, 2011

Net portfolio holdings of Maiden Lane LLC (1) 7,228

Outstanding principal amount of loan extended by the Federal Reserve Bank of New York (2) 4,104
Accrued interest payable to the Federal Reserve Bank of New York (2) 755
Outstanding principal amount and accrued interest on loan payable to JPMorgan Chase & Co. (3) 1,384

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
Wednesday
Account name Dec 28, 2011

Net portfolio holdings of Maiden Lane II LLC (1) 9,281

Outstanding principal amount of loan extended by the Federal Reserve Bank of New York (2) 6,223
Accrued interest payable to the Federal Reserve Bank of New York (2) 568
Deferred payment and accrued interest payable to subsidiaries of American International Group, Inc. (3) 1,106

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
Wednesday
Account name Dec 28, 2011

Net portfolio holdings of Maiden Lane III LLC (1) 17,739

Outstanding principal amount of loan extended by the Federal Reserve Bank of New York (2) 9,134
Accrued interest payable to the Federal Reserve Bank of New York (2) 691
Outstanding principal amount and accrued interest on loan payable to American International Group, Inc. (3) 5,540

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
Wednesday
Account name Dec 28, 2011

Asset-backed securities holdings (1) 0
Other investments, net 811
Net portfolio holdings of TALF LLC 811

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
Eliminations from Wednesday Change since
consolidation Dec 28, 2011 Wednesday Wednesday
Assets, liabilities, and capital Dec 21, 2011 Dec 29, 2010

Assets
Gold certificate account 11,037 0 0
Special drawing rights certificate account 5,200 0 0
Coin 2,306 + 9 + 142
Securities, repurchase agreements, and loans 2,622,464 - 27,721 + 421,677
Securities held outright (1) 2,613,382 - 27,289 + 457,679
U.S. Treasury securities 1,672,092 - 12,157 + 655,990
Bills (2) 18,423 0 0
Notes and bonds, nominal (2) 1,575,584 - 12,121 + 632,207
Notes and bonds, inflation-indexed (2) 68,468 0 + 20,343
Inflation compensation (3) 9,617 - 36 + 3,439
Federal agency debt securities (2) 103,994 - 702 - 43,466
Mortgage-backed securities (4) 837,295 - 14,431 - 154,846
Repurchase agreements (5) 0 0 0
Loans 9,082 - 432 - 36,002
Net portfolio holdings of Maiden Lane LLC (6) 7,228 - 7 - 19,746
Net portfolio holdings of Maiden Lane II LLC (7) 9,281 + 38 - 6,916
Net portfolio holdings of Maiden Lane III LLC (8) 17,739 + 6 - 5,403
Net portfolio holdings of TALF LLC (9) 811 0 + 146
Preferred interests in AIA Aurora LLC and ALICO
Holdings LLC (10) 0 0 - 26,057
Items in process of collection (100) 358 + 167 + 133
Bank premises 2,188 + 1 - 41
Central bank liquidity swaps (11) 99,823 + 37,224 + 99,748
Other assets (12) 150,051 + 264 + 41,344

Total assets (100) 2,928,485 + 9,979 + 505,028

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
Eliminations from Wednesday Change since
consolidation Dec 28, 2011 Wednesday Wednesday
Assets, liabilities, and capital Dec 21, 2011 Dec 29, 2010

Liabilities
Federal Reserve notes, net of F.R. Bank holdings 1,034,520 + 6,004 + 90,771
Reverse repurchase agreements (13) 88,674 - 1,396 + 29,428
Deposits (0) 1,731,928 + 5,335 + 413,173
Term deposits held by depository institutions 0 0 - 5,113
Other deposits held by depository institutions 1,569,267 + 62,708 + 548,541
U.S. Treasury, General Account 91,418 - 15,174 + 2,513
U.S. Treasury, Supplementary Financing Account 0 0 - 199,963
Foreign official 378 - 48 - 3,292
Other (0) 70,866 - 42,150 + 70,488
Deferred availability cash items (100) 1,494 + 242 - 356
Other liabilities and accrued dividends (14) 18,071 - 120 - 25,185

Total liabilities (100) 2,874,686 + 10,063 + 507,831

Capital accounts
Capital paid in 26,900 - 41 + 375
Surplus 26,900 - 41 + 949
Other capital accounts 0 0 - 4,126

Total capital 53,799 - 84 - 2,803

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, December 28, 2011
Millions of dollars
Total Boston New York Philadelphia Cleveland Richmond Atlanta Chicago St. Louis Minneapolis Kansas Dallas San
Assets, liabilities, and capital City 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 2,306 52 81 160 172 408 206 333 35 60 176 242 382
Securities, repurchase agreements,
and loans 2,622,464 64,254 1,224,357 89,524 70,593 301,834 194,288 155,218 49,466 40,169 69,530 103,360 259,871
Securities held outright (1) 2,613,382 64,254 1,215,335 89,524 70,593 301,819 194,286 155,197 49,464 40,164 69,517 103,359 259,871
U.S. Treasury securities 1,672,092 41,111 777,595 57,279 45,167 193,110 124,308 99,298 31,648 25,698 44,479 66,131 166,270
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) 1,653,669 40,658 769,027 56,648 44,669 190,982 122,938 98,204 31,299 25,414 43,988 65,403 164,438
Federal agency debt securities (2) 103,994 2,557 48,362 3,562 2,809 12,010 7,731 6,176 1,968 1,598 2,766 4,113 10,341
Mortgage-backed securities (4) 837,295 20,586 389,378 28,682 22,617 96,699 62,247 49,723 15,848 12,868 22,272 33,115 83,259
Repurchase agreements (5) 0 0 0 0 0 0 0 0 0 0 0 0 0
Loans 9,082 0 9,023 0 0 15 2 21 2 6 13 1 0
Net portfolio holdings of Maiden
Lane LLC (6) 7,228 0 7,228 0 0 0 0 0 0 0 0 0 0
Net portfolio holdings of Maiden
Lane II LLC (7) 9,281 0 9,281 0 0 0 0 0 0 0 0 0 0
Net portfolio holdings of Maiden
Lane III LLC (8) 17,739 0 17,739 0 0 0 0 0 0 0 0 0 0
Net portfolio holdings of TALF LLC (9) 811 0 811 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 458 10 0 112 81 5 51 21 6 15 7 16 133
Bank premises 2,188 121 263 67 126 232 215 207 134 105 259 246 213
Central bank liquidity swaps (11) 99,823 3,450 28,912 9,669 7,405 20,469 5,720 2,529 814 3,083 899 1,512 15,361
Other assets (12) 150,051 3,975 65,018 6,772 5,282 19,698 10,737 8,019 2,584 2,745 3,546 5,365 16,311
Interdistrict settlement account 0 + 12,144 + 325,079 - 30,728 - 11,961 - 115,811 - 47,830 - 16,759 - 9,399 - 19,646 - 18,587 - 411 - 66,092

Total assets 2,928,585 84,591 1,684,452 76,219 72,385 228,120 165,435 150,847 44,108 26,819 56,300 111,340 227,970

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, December 28, 2011 (continued)
Millions of dollars
Total Boston New York Philadelphia Cleveland Richmond Atlanta Chicago St. Louis Minneapolis Kansas Dallas San
Assets, liabilities, and capital City Francisco

Liabilities
Federal Reserve notes outstanding 1,206,576 44,324 427,359 46,186 54,301 94,686 144,990 89,305 33,965 21,031 34,639 80,275 135,514
Less: Notes held by F.R. Banks 172,056 4,261 50,670 6,341 9,156 10,729 28,590 12,043 3,967 5,118 3,428 11,881 25,873
Federal Reserve notes, net 1,034,520 40,063 376,689 39,845 45,145 83,958 116,400 77,262 29,998 15,913 31,211 68,394 109,641
Reverse repurchase agreements (13) 88,674 2,180 41,237 3,038 2,395 10,241 6,592 5,266 1,678 1,363 2,359 3,507 8,818
Deposits 1,731,928 40,146 1,235,556 28,164 20,334 121,838 38,690 66,292 11,734 8,858 21,924 38,168 100,225
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 1,569,267 40,102 1,073,095 28,156 20,331 121,747 38,687 66,256 11,733 8,856 21,920 38,166 100,219
U.S. Treasury, General Account 91,418 0 91,418 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 378 1 349 4 3 8 2 1 0 1 0 1 6
Other 70,866 42 70,695 4 1 83 0 35 0 1 4 1 1
Deferred availability cash items 1,594 84 0 181 206 44 118 87 62 304 65 81 363
Interest on Federal Reserve notes due
to U.S. Treasury (14) 1,351 25 649 37 29 117 104 123 31 21 37 56 122
Other liabilities and accrued
dividends (15) 16,719 208 12,966 288 298 794 455 381 165 140 169 273 583

Total liabilities 2,874,786 82,705 1,667,098 71,553 68,408 216,991 162,359 149,410 43,669 26,599 55,765 110,479 219,751

Capital
Capital paid in 26,900 943 8,677 2,333 1,989 5,564 1,538 718 220 110 268 431 4,109
Surplus 26,900 943 8,677 2,333 1,989 5,564 1,538 718 220 110 268 431 4,109
Other capital 0 0 0 0 0 0 0 0 0 0 0 0 0

Total liabilities and capital 2,928,585 84,591 1,684,452 76,219 72,385 228,120 165,435 150,847 44,108 26,819 56,300 111,340 227,970

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, December 28, 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
Wednesday
Federal Reserve notes and collateral Dec 28, 2011

Federal Reserve notes outstanding 1,206,576
Less: Notes held by F.R. Banks not subject to collateralization 172,056
Federal Reserve notes to be collateralized 1,034,520
Collateral held against Federal Reserve notes 1,034,520
Gold certificate account 11,037
Special drawing rights certificate account 5,200
U.S. Treasury, agency debt, and mortgage-backed securities pledged (1,2) 1,018,283
Other assets pledged 0
Memo:
Total U.S. Treasury, agency debt, and mortgage-backed securities (1,2) 2,613,382
Less: Face value of securities under reverse repurchase agreements 76,704
U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 2,536,678

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.

Statistical releases