Federal Reserve Statistical Release, H.4.1, Factors Affecting Reserve Balances; title with eagle logo links to Statistical Release home page
Release Date:   January 26, 2012
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For release at
4:30 P.M. EDT
January 26, 2012

The weekly average values, shown in table 1, reflect the December 31, 2011, quarterly updates to the
fair values of the net portfolio holdings of Maiden Lane LLC, Maiden Lane II LLC, and Maiden
Lane III LLC, and the fair value adjustment of the Term Asset-Backed Securities Loan Facility, or
TALF, which is included in "Other Federal Reserve assets." The amounts for the first six days of
this reporting week are based on the values as of September 30, 2011, and the amounts for the last
day of the reporting week are based on the values as of December 31, 2011.


FEDERAL RESERVE statistical release

H.4.1

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

January 26, 2012
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
Jan 25, 2012
Week ended
Jan 25, 2012		 Change from week ended
Jan 18, 2012 Jan 26, 2011
Reserve Bank credit 2,905,283 + 1,522 + 485,868 2,902,205
    Securities held outright 1 2,601,791 - 396 + 385,052 2,598,650
        U.S. Treasury securities 1,653,915 + 6,636 + 557,513 1,661,529
            Bills 2 18,423 0 0 18,423
            Notes and bonds, nominal 2 1,557,618 + 6,732 + 536,057 1,565,237
            Notes and bonds, inflation-indexed 2 68,418 - 64 + 18,046 68,418
            Inflation compensation 3 9,456 - 32 + 3,409 9,451
        Federal agency debt securities 2 101,498 - 532 - 43,306 101,498
        Mortgage-backed securities 4 846,377 - 6,501 - 129,156 835,624
    Repurchase agreements 5 0 0 0 0
    Loans 8,435 - 163 - 15,138 8,180
        Primary credit 5 + 1 - 34 7
        Secondary credit 0 0 0 0
        Seasonal credit 6 + 4 - 4 7
        Credit extended to American International
            Group, Inc., net 6		 0 0 0 0
        Term Asset-Backed Securities Loan Facility 7 8,423 - 169 - 15,101 8,166
        Other credit extensions 0 0 0 0
    Net portfolio holdings of Maiden Lane LLC 8 7,001 - 170 - 19,398 6,948
    Net portfolio holdings of Maiden Lane II LLC 9 9,201 + 55 - 6,758 9,508
    Net portfolio holdings of Maiden Lane III LLC 10 17,645 - 153 - 4,785 17,718
    Net portfolio holdings of TALF LLC 11 814 + 3 + 140 819
    Preferred interests in AIA Aurora LLC and ALICO
        Holdings LLC 6		 0 0 0 0
    Float -806 + 110 + 794 -814
    Central bank liquidity swaps 12 103,209 - 57 + 103,139 103,171
    Other Federal Reserve assets 13 157,994 + 2,294 + 42,823 158,027
Gold stock 11,041 0 0 11,041
Special drawing rights certificate account 5,200 0 0 5,200
Treasury currency outstanding 14 44,291 + 14 + 620 44,291
 
Total factors supplying reserve funds 2,965,815 + 1,537 + 486,488 2,962,737
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
Jan 25, 2012
Week ended
Jan 25, 2012		 Change from week ended
Jan 18, 2012 Jan 26, 2011
Currency in circulation 14 1,065,556 - 2,404 + 89,477 1,066,416
Reverse repurchase agreements 15 91,500 + 7,073 + 38,901 88,715
    Foreign official and international accounts 91,500 + 7,073 + 38,901 88,715
    Others 0 0 0 0
Treasury cash holdings 145 + 8 - 55 143
Deposits with F.R. Banks, other than reserve balances 206,545 + 60,177 - 93,532 158,797
    Term deposits held by depository institutions 3,079 0 + 3,079 3,079
    U.S. Treasury, General Account 111,236 + 33,167 + 19,532 111,938
    U.S. Treasury, Supplementary Financing Account 0 0 - 199,962 0
    Foreign official 147 - 5 - 5,140 125
    Service-related 1,979 - 1 - 383 1,979
        Required clearing balances 1,979 - 1 - 383 1,979
        Adjustments to compensate for float 0 0 0 0
    Other 90,104 + 27,015 + 89,342 41,675
Funds from American International Group, Inc. asset
    dispositions, held as agent 6		 0 0 0 0
Other liabilities and capital 16 72,314 + 407 - 7 71,401
 
Total factors, other than reserve balances,
    absorbing reserve funds		 1,436,061 + 65,263 + 34,785 1,385,471
 
Reserve balances with Federal Reserve Banks 1,529,754 - 63,726 + 451,703 1,577,266
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
Jan 25, 2012
Week ended
Jan 25, 2012		 Change from week ended
Jan 18, 2012 Jan 26, 2011
Marketable securities held in custody for foreign
    official and international accounts 1		 3,406,096 + 14,443 + 55,079 3,406,980
    U.S. Treasury securities 2,679,667 + 14,779 + 76,598 2,678,780
    Federal agency securities 2 726,429 - 336 - 21,519 728,200
Securities lent to dealers 12,785 + 2,212 - 656 14,132
    Overnight facility 3 12,785 + 2,212 - 656 14,132
        U.S. Treasury securities 11,830 + 2,180 + 141 13,104
        Federal agency debt securities 955 + 32 - 796 1,028
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, January 25, 2012
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 14 10 4,480 3,676 0 ... 8,180
U.S. Treasury securities 2  
    Holdings 16,786 33,029 66,892 629,346 673,510 241,966 1,661,529
    Weekly changes + 2,156 - 2,157 - 1 - 8,742 + 14,506 + 4,261 + 10,023
Federal agency debt securities 3  
    Holdings 0 6,927 19,460 58,931 13,833 2,347 101,498
    Weekly changes 0 + 629 - 629 0 0 0 0
Mortgage-backed securities 4  
    Holdings 0 0 0 12 72 835,539 835,624
    Weekly changes 0 0 0 - 1 + 5 - 11,814 - 11,810
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 9,084 94,087 0 0 0 0 103,171
   
Reverse repurchase agreements 6 88,715 0 ... ... ... ... 88,715
Term deposits 3,079 0 0 ... ... ... 3,079
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
Jan 25, 2012
Mortgage-backed securities held outright 1 835,624
 
Commitments to buy mortgage-backed securities 2 37,367
Commitments to sell mortgage-backed securities 2 0
 
Cash and cash equivalents 3 192
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
Jan 25, 2012
Net portfolio holdings of Maiden Lane LLC 1 6,948
 
Outstanding principal amount of loan extended by the Federal Reserve Bank of New York 2 3,812
Accrued interest payable to the Federal Reserve Bank of New York 2 758
Outstanding principal amount and accrued interest on loan payable to JPMorgan Chase & Co. 3 1,390
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 December 31, 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
Jan 25, 2012
Net portfolio holdings of Maiden Lane II LLC 1 9,508
 
Outstanding principal amount of loan extended by the Federal Reserve Bank of New York 2 6,084
Accrued interest payable to the Federal Reserve Bank of New York 2 575
Deferred payment and accrued interest payable to subsidiaries of American International Group, Inc. 3 1,109
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. Revalued quarterly. This table reflects valuations as of December 31, 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
Jan 25, 2012
Net portfolio holdings of Maiden Lane III LLC 1 17,718
 
Outstanding principal amount of loan extended by the Federal Reserve Bank of New York 2 8,890
Accrued interest payable to the Federal Reserve Bank of New York 2 700
Outstanding principal amount and accrued interest on loan payable to American International Group, Inc. 3 5,554
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 December 31, 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
Jan 25, 2012
Asset-backed securities holdings 1 0
Other investments, net 819
Net portfolio holdings of TALF LLC 819
 
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 3 110
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
Jan 25, 2012		 Change since
Wednesday
Jan 18, 2012		 Wednesday
Jan 26, 2011
Assets  
    Gold certificate account   11,037 0 0
    Special drawing rights certificate account   5,200 0 0
    Coin   2,413 + 43 + 95
    Securities, repurchase agreements, and loans   2,606,830 - 2,204 + 359,422
        Securities held outright 1   2,598,650 - 1,788 + 374,501
            U.S. Treasury securities   1,661,529 + 10,023 + 547,081
                Bills 2   18,423 0 0
                Notes and bonds, nominal 2   1,565,237 + 10,037 + 525,633
                Notes and bonds, inflation-indexed 2   68,418 0 + 18,046
                Inflation compensation 3   9,451 - 15 + 3,402
            Federal agency debt securities 2   101,498 0 - 43,126
            Mortgage-backed securities 4   835,624 - 11,810 - 129,453
        Repurchase agreements 5   0 0 0
        Loans   8,180 - 416 - 15,079
    Net portfolio holdings of Maiden Lane LLC 6   6,948 - 62 - 19,483
    Net portfolio holdings of Maiden Lane II LLC 7   9,508 + 358 - 6,494
    Net portfolio holdings of Maiden Lane III LLC 8   17,718 + 85 - 4,719
    Net portfolio holdings of TALF LLC 9   819 + 8 + 133
    Preferred interests in AIA Aurora LLC and ALICO
        Holdings LLC 10		   0 0 0
    Items in process of collection (122) 202 - 189 - 150
    Bank premises   2,183 + 1 - 38
    Central bank liquidity swaps 11   103,171 - 95 + 103,101
    Other assets 12   155,841 + 2,173 + 43,244
 
Total assets (122) 2,921,869 + 118 + 475,109
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
Jan 25, 2012		 Change since
Wednesday
Jan 18, 2012		 Wednesday
Jan 26, 2011
Liabilities  
    Federal Reserve notes, net of F.R. Bank holdings   1,024,676 - 1,446 + 89,334
    Reverse repurchase agreements 13   88,715 - 2,378 + 36,095
    Deposits (0) 1,736,060 + 4,909 + 349,583
        Term deposits held by depository institutions   3,079 0 + 3,079
        Other deposits held by depository institutions   1,579,243 + 33,784 + 492,916
        U.S. Treasury, General Account   111,938 + 3,735 + 17,752
        U.S. Treasury, Supplementary Financing Account   0 0 - 199,962
        Foreign official   125 - 1 - 5,024
        Other (0) 41,675 - 32,610 + 40,821
    Deferred availability cash items (122) 1,016 - 951 - 800
    Other liabilities and accrued dividends 14   17,600 - 17 + 159
 
Total liabilities (122) 2,868,068 + 118 + 474,371
 
Capital accounts  
    Capital paid in   26,901 0 + 369
    Surplus   26,901 0 + 369
    Other capital accounts   0 0 0
 
Total capital   53,801 0 + 738
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, January 25, 2012
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 2,413 56 96 162 180 425 216 350 42 62 180 250 395
    Securities, repurchase agreements,
        and loans		 2,606,830 63,892 1,216,650 89,020 70,195 300,118 193,190 154,322 49,185 39,945 69,130 102,777 258,406
        Securities held outright 1 2,598,650 63,892 1,208,484 89,020 70,195 300,118 193,190 154,322 49,185 39,937 69,125 102,777 258,406
            U.S. Treasury securities 1,661,529 40,851 772,682 56,917 44,881 191,890 123,522 98,671 31,448 25,535 44,198 65,714 165,220
                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 1,643,106 40,398 764,115 56,286 44,384 189,762 122,153 97,577 31,099 25,252 43,707 64,985 163,388
            Federal agency debt securities 2 101,498 2,495 47,201 3,477 2,742 11,722 7,546 6,028 1,921 1,560 2,700 4,014 10,093
            Mortgage-backed securities 4 835,624 20,545 388,601 28,625 22,572 96,506 62,122 49,624 15,816 12,842 22,228 33,049 83,093
        Repurchase agreements 5 0 0 0 0 0 0 0 0 0 0 0 0 0
        Loans 8,180 0 8,166 0 0 0 0 0 0 8 5 0 0
    Net portfolio holdings of Maiden
        Lane LLC 6		 6,948 0 6,948 0 0 0 0 0 0 0 0 0 0
    Net portfolio holdings of Maiden
        Lane II LLC 7		 9,508 0 9,508 0 0 0 0 0 0 0 0 0 0
    Net portfolio holdings of Maiden
        Lane III LLC 8		 17,718 0 17,718 0 0 0 0 0 0 0 0 0 0
    Net portfolio holdings of TALF LLC 9 819 0 819 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 324 8 0 77 72 5 67 14 6 8 5 18 44
    Bank premises 2,183 123 261 67 125 232 214 205 134 105 259 245 213
    Central bank liquidity swaps 11 103,171 3,565 29,882 9,993 7,653 21,156 5,912 2,614 841 3,187 929 1,563 15,876
    Other assets 12 155,841 4,121 67,697 6,970 5,439 20,379 11,163 8,356 2,701 2,837 3,700 5,599 16,877
    Interdistrict settlement account 0 - 2,933 + 367,926 - 29,732 - 13,742 - 148,835 - 46,391 - 14,077 - 8,522 - 19,937 - 18,604 - 6,079 - 59,072
 
Total assets 2,921,991 69,418 1,723,189 77,198 70,609 194,762 166,419 153,062 44,856 26,493 56,069 105,384 234,531
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, January 25, 2012 (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 1,211,377 44,154 435,038 45,817 55,321 94,483 144,059 88,725 33,796 21,002 34,457 79,775 134,749
        Less: Notes held by F.R. Banks 186,701 5,088 54,813 6,708 10,001 12,508 28,617 13,418 4,530 5,460 4,131 12,976 28,451
            Federal Reserve notes, net 1,024,676 39,066 380,225 39,109 45,320 81,974 115,442 75,308 29,267 15,542 30,327 66,799 106,298
    Reverse repurchase agreements 13 88,715 2,181 41,256 3,039 2,396 10,246 6,595 5,268 1,679 1,363 2,360 3,509 8,822
    Deposits 1,736,060 26,023 1,270,662 29,976 18,533 90,611 40,635 70,576 13,257 9,009 22,610 33,825 110,343
        Term deposits held by depository
            institutions		 3,079 20 621 617 47 1,010 5 364 3 65 251 5 72
        Other deposits held by depository
            institutions		 1,579,243 25,988 1,116,425 29,349 18,482 89,554 40,627 70,181 13,254 8,942 22,358 33,819 110,263
        U.S. Treasury, General Account 111,938 0 111,938 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 41,675 14 41,581 7 1 38 0 30 0 1 1 1 1
    Deferred availability cash items 1,138 45 0 135 108 23 160 41 29 208 45 88 256
    Interest on Federal Reserve notes due
        to U.S. Treasury 14		 1,596 39 857 45 59 145 102 71 27 13 36 51 151
    Other liabilities and accrued
        dividends 15		 16,004 178 12,834 226 217 635 410 362 156 139 156 250 442
 
Total liabilities 2,868,190 67,531 1,705,834 72,532 66,631 183,634 163,343 151,626 44,415 26,274 55,534 104,522 226,312
 
Capital  
    Capital paid in 26,901 943 8,677 2,333 1,989 5,564 1,538 718 220 109 268 431 4,109
    Surplus 26,901 943 8,677 2,333 1,989 5,564 1,538 718 220 109 268 431 4,109
    Other capital 0 0 0 0 0 0 0 0 0 0 0 0 0
 
Total liabilities and capital 2,921,991 69,418 1,723,189 77,198 70,609 194,762 166,419 153,062 44,856 26,493 56,069 105,384 234,531
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, January 25, 2012 (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
Jan 25, 2012
Federal Reserve notes outstanding 1,211,377
    Less: Notes held by F.R. Banks not subject to collateralization 186,701
        Federal Reserve notes to be collateralized 1,024,676
Collateral held against Federal Reserve notes 1,024,676
    Gold certificate account 11,037
    Special drawing rights certificate account 5,200
    U.S. Treasury, agency debt, and mortgage-backed securities pledged 1,2 1,008,439
    Other assets pledged 0
Memo:  
Total U.S. Treasury, agency debt, and mortgage-backed securities 1,2 2,598,650
    Less: Face value of securities under reverse repurchase agreements 76,696
        U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 2,521,954
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: January 26, 2012