Federal Reserve Statistical Release, H.4.1, Factors Affecting Reserve Balances; title with eagle logo links to Statistical Release home page
Release Date:   February 16, 2012
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FEDERAL RESERVE statistical release

H.4.1

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

February 16, 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
Feb 15, 2012
Week ended
Feb 15, 2012		 Change from week ended
Feb 8, 2012 Feb 16, 2011
Reserve Bank credit 2,918,112 + 4,566 + 426,113 2,920,478
    Securities held outright 1 2,605,165 + 2,633 + 318,231 2,616,375
        U.S. Treasury securities 1,659,983 - 5,034 + 480,781 1,667,071
            Bills 2 18,423 0 0 18,423
            Notes and bonds, nominal 2 1,564,482 - 4,241 + 462,744 1,570,729
            Notes and bonds, inflation-indexed 2 67,966 - 544 + 15,173 68,760
            Inflation compensation 3 9,112 - 248 + 2,864 9,159
        Federal agency debt securities 2 101,498 0 - 43,052 101,498
        Mortgage-backed securities 4 843,684 + 7,666 - 119,498 847,806
    Repurchase agreements 5 0 0 0 0
    Loans 8,037 - 102 - 14,057 7,995
        Primary credit 7 - 1 - 14 0
        Secondary credit 0 0 0 0
        Seasonal credit 0 - 2 0 0
        Credit extended to American International
            Group, Inc., net 6		 0 0 0 0
        Term Asset-Backed Securities Loan Facility 7 8,030 - 99 - 14,043 7,995
        Other credit extensions 0 0 0 0
    Net portfolio holdings of Maiden Lane LLC 8 6,842 - 129 - 19,486 6,474
    Net portfolio holdings of Maiden Lane II LLC 9 6,712 + 361 - 9,326 6,714
    Net portfolio holdings of Maiden Lane III LLC 10 17,779 + 35 - 5,151 17,594
    Net portfolio holdings of TALF LLC 11 819 0 + 133 819
    Preferred interests in AIA Aurora LLC and ALICO
        Holdings LLC 6		 0 0 0 0
    Float -957 + 76 + 666 -1,086
    Central bank liquidity swaps 12 109,088 + 331 + 109,018 109,088
    Other Federal Reserve assets 13 164,628 + 1,363 + 46,087 156,504
Gold stock 11,041 0 0 11,041
Special drawing rights certificate account 5,200 0 0 5,200
Treasury currency outstanding 14 44,331 + 14 + 603 44,331
 
Total factors supplying reserve funds 2,978,683 + 4,579 + 426,715 2,981,049
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
Feb 15, 2012
Week ended
Feb 15, 2012		 Change from week ended
Feb 8, 2012 Feb 16, 2011
Currency in circulation 14 1,081,716 + 7,629 + 92,663 1,086,008
Reverse repurchase agreements 15 88,824 + 1,596 + 30,583 87,117
    Foreign official and international accounts 88,824 + 1,596 + 30,583 87,117
    Others 0 0 0 0
Treasury cash holdings 149 + 5 - 30 157
Deposits with F.R. Banks, other than reserve balances 98,231 - 39,611 - 110,519 61,773
    Term deposits held by depository institutions 0 - 3,079 - 5,070 0
    U.S. Treasury, General Account 58,049 - 29,913 + 11,626 50,066
    U.S. Treasury, Supplementary Financing Account 0 0 - 149,972 0
    Foreign official 147 + 21 + 1 269
    Service-related 1,971 - 6 - 356 1,971
        Required clearing balances 1,971 - 6 - 356 1,971
        Adjustments to compensate for float 0 0 0 0
    Other 38,064 - 6,635 + 33,251 9,467
Funds from American International Group, Inc. asset
    dispositions, held as agent 6		 0 0 0 0
Other liabilities and capital 16 75,504 + 1,478 + 3,836 74,117
 
Total factors, other than reserve balances,
    absorbing reserve funds		 1,344,424 - 28,903 + 16,534 1,309,172
 
Reserve balances with Federal Reserve Banks 1,634,260 + 33,483 + 410,182 1,671,877
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
Feb 15, 2012
Week ended
Feb 15, 2012		 Change from week ended
Feb 8, 2012 Feb 16, 2011
Marketable securities held in custody for foreign
    official and international accounts 1		 3,447,152 + 26,022 + 63,200 3,454,983
    U.S. Treasury securities 2,716,155 + 23,622 + 89,531 2,721,374
    Federal agency securities 2 730,997 + 2,399 - 26,331 733,609
Securities lent to dealers 15,457 + 1,483 - 3,236 21,225
    Overnight facility 3 15,457 + 1,483 - 3,236 21,225
        U.S. Treasury securities 14,445 + 1,668 - 2,850 20,181
        Federal agency debt securities 1,013 - 185 - 386 1,044
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, February 15, 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 0 237 4,687 3,070 0 ... 7,995
U.S. Treasury securities 2  
    Holdings 14,018 32,465 52,321 627,102 680,651 260,513 1,667,071
    Weekly changes - 10,766 + 6,490 - 4,505 + 2,361 + 2,819 + 9,980 + 6,379
Federal agency debt securities 3  
    Holdings 681 6,651 19,553 59,784 12,482 2,347 101,498
    Weekly changes 0 + 405 + 93 + 853 - 1,351 0 0
Mortgage-backed securities 4  
    Holdings 0 0 1 12 76 847,718 847,806
    Weekly changes 0 0 0 0 - 1 + 11,777 + 11,776
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 55,691 53,397 0 0 0 0 109,088
   
Reverse repurchase agreements 6 87,117 0 ... ... ... ... 87,117
Term deposits 0 0 0 ... ... ... 0
Note: Components may not sum to totals because of rounding.

. . . Not applicable.


1. 
Excludes the loans from the Federal Reserve Bank of New York (FRBNY) to Maiden Lane LLC, Maiden Lane II LLC, Maiden Lane III LLC, and TALF LLC. The loans were eliminated when preparing the FRBNY's statement of condition consistent with consolidation under generally accepted accounting principles.
2. 
Face value. For inflation-indexed securities, includes the original face value and compensation that adjusts for the effect of inflation on the original face value of such securities.
3. 
Face value.
4. 
Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. Current face value of the securities, which is the remaining principal balance of the underlying mortgages.
5. 
Face value of asset-backed securities held by TALF LLC, which is the remaining principal balance of the underlying assets.
6. 
Cash value of agreements.
7. 
Dollar value of foreign currency held under these agreements valued at the exchange rate to be used when the foreign currency is returned to the foreign central bank. This exchange rate equals the market exchange rate used when the foreign currency was acquired from the foreign central bank.

3. Supplemental Information on Mortgage-Backed Securities
Millions of dollars
Account name Wednesday
Feb 15, 2012
Mortgage-backed securities held outright 1 847,806
 
Commitments to buy mortgage-backed securities 2 35,865
Commitments to sell mortgage-backed securities 2 800
 
Cash and cash equivalents 3 0
1. 
Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. Current face value of the securities, which is the remaining principal balance of the underlying mortgages.
2. 
Current face value. Generally settle within 180 days and include commitments associated with outright transactions, dollar rolls, and coupon swaps.
3. 
This amount is included in other Federal Reserve assets in table 1 and in other assets in table 8 and table 9.

4. Information on Principal Accounts of Maiden Lane LLC
Millions of dollars
Account name Wednesday
Feb 15, 2012
Net portfolio holdings of Maiden Lane LLC 1 6,474
 
Outstanding principal amount of loan extended by the Federal Reserve Bank of New York 2 3,265
Accrued interest payable to the Federal Reserve Bank of New York 2 760
Outstanding principal amount and accrued interest on loan payable to JPMorgan Chase & Co. 3 1,394
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
Feb 15, 2012
Net portfolio holdings of Maiden Lane II LLC 1 6,714
 
Outstanding principal amount of loan extended by the Federal Reserve Bank of New York 2 2,867
Accrued interest payable to the Federal Reserve Bank of New York 2 578
Deferred payment and accrued interest payable to subsidiaries of American International Group, Inc. 3 1,111
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
Feb 15, 2012
Net portfolio holdings of Maiden Lane III LLC 1 17,594
 
Outstanding principal amount of loan extended by the Federal Reserve Bank of New York 2 8,613
Accrued interest payable to the Federal Reserve Bank of New York 2 707
Outstanding principal amount and accrued interest on loan payable to American International Group, Inc. 3 5,564
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
Feb 15, 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
Feb 15, 2012		 Change since
Wednesday
Feb 8, 2012		 Wednesday
Feb 16, 2011
Assets  
    Gold certificate account   11,037 0 0
    Special drawing rights certificate account   5,200 0 0
    Coin   2,429 - 18 + 140
    Securities, repurchase agreements, and loans   2,624,370 + 18,018 + 309,141
        Securities held outright 1   2,616,375 + 18,155 + 323,225
            U.S. Treasury securities   1,667,071 + 6,379 + 476,730
                Bills 2   18,423 0 0
                Notes and bonds, nominal 2   1,570,729 + 4,923 + 459,044
                Notes and bonds, inflation-indexed 2   68,760 + 1,390 + 14,897
                Inflation compensation 3   9,159 + 66 + 2,788
            Federal agency debt securities 2   101,498 0 - 42,867
            Mortgage-backed securities 4   847,806 + 11,776 - 110,638
        Repurchase agreements 5   0 0 0
        Loans   7,995 - 137 - 14,083
    Net portfolio holdings of Maiden Lane LLC 6   6,474 - 521 - 19,558
    Net portfolio holdings of Maiden Lane II LLC 7   6,714 + 2 - 9,329
    Net portfolio holdings of Maiden Lane III LLC 8   17,594 - 262 - 5,220
    Net portfolio holdings of TALF LLC 9   819 0 + 133
    Preferred interests in AIA Aurora LLC and ALICO
        Holdings LLC 10		   0 0 0
    Items in process of collection (103) 25 - 145 - 166
    Bank premises   2,177 0 - 40
    Central bank liquidity swaps 11   109,088 + 331 + 109,018
    Other assets 12   154,316 - 7,733 + 43,417
 
Total assets (103) 2,940,244 + 9,674 + 427,536
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
Feb 15, 2012		 Change since
Wednesday
Feb 8, 2012		 Wednesday
Feb 16, 2011
Liabilities  
    Federal Reserve notes, net of F.R. Bank holdings   1,044,259 + 7,291 + 92,830
    Reverse repurchase agreements 13   87,117 + 362 + 29,291
    Deposits (0) 1,733,639 + 2,152 + 303,405
        Term deposits held by depository institutions   0 - 3,079 - 5,070
        Other deposits held by depository institutions   1,673,837 + 40,102 + 453,777
        U.S. Treasury, General Account   50,066 + 930 - 4,495
        U.S. Treasury, Supplementary Financing Account   0 0 - 149,972
        Foreign official   269 + 143 + 151
        Other (0) 9,467 - 35,944 + 9,013
    Deferred availability cash items (103) 1,111 - 96 - 867
    Other liabilities and accrued dividends 14   19,569 - 40 + 1,352
 
Total liabilities (103) 2,885,696 + 9,671 + 426,012
 
Capital accounts  
    Capital paid in   27,274 + 2 + 762
    Surplus   27,274 + 2 + 762
    Other capital accounts   0 0 0
 
Total capital   54,548 + 3 + 1,524
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, February 15, 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 2,429 59 108 164 181 427 212 349 37 62 182 248 400
    Securities, repurchase agreements,
        and loans		 2,624,370 64,327 1,224,721 89,627 70,674 302,165 194,508 155,375 49,520 40,210 69,597 103,478 260,168
        Securities held outright 1 2,616,375 64,327 1,216,727 89,627 70,674 302,165 194,508 155,375 49,520 40,210 69,597 103,478 260,168
            U.S. Treasury securities 1,667,071 40,987 775,259 57,107 45,031 192,530 123,934 99,000 31,553 25,620 44,345 65,933 165,771
                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 1,648,648 40,534 766,692 56,476 44,533 190,402 122,565 97,906 31,204 25,337 43,855 65,204 163,939
            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 4 847,806 20,845 394,266 29,042 22,901 97,913 63,028 50,347 16,046 13,030 22,552 33,531 84,305
        Repurchase agreements 5 0 0 0 0 0 0 0 0 0 0 0 0 0
        Loans 7,995 0 7,995 0 0 0 0 0 0 0 0 0 0
    Net portfolio holdings of Maiden
        Lane LLC 6		 6,474 0 6,474 0 0 0 0 0 0 0 0 0 0
    Net portfolio holdings of Maiden
        Lane II LLC 7		 6,714 0 6,714 0 0 0 0 0 0 0 0 0 0
    Net portfolio holdings of Maiden
        Lane III LLC 8		 17,594 0 17,594 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 127 9 0 40 37 5 -52 14 5 8 5 15 41
    Bank premises 2,177 124 259 67 125 231 213 205 134 105 258 244 212
    Central bank liquidity swaps 11 109,088 3,824 35,189 9,462 8,065 22,565 6,238 2,910 892 445 1,085 1,747 16,665
    Other assets 12 154,316 4,099 67,797 6,665 5,398 20,292 11,033 8,292 2,685 2,119 3,682 5,546 16,708
    Interdistrict settlement account 0 - 5,385 + 285,608 - 24,839 - 5,510 - 119,977 - 38,909 - 7,014 - 4,195 - 16,065 - 16,153 - 2,650 - 44,910
 
Total assets 2,940,346 67,644 1,650,968 81,827 79,657 226,992 175,292 161,408 49,548 27,171 59,127 109,638 251,076
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, February 15, 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 1,221,648 44,315 438,670 45,866 60,084 98,576 143,067 88,522 33,705 20,712 34,380 79,366 134,385
        Less: Notes held by F.R. Banks 177,389 4,918 58,524 6,154 8,538 11,375 25,681 12,061 3,504 5,010 4,042 11,413 26,169
            Federal Reserve notes, net 1,044,259 39,397 380,147 39,713 51,546 87,202 117,386 76,460 30,201 15,701 30,338 67,953 108,216
    Reverse repurchase agreements 13 87,117 2,142 40,513 2,984 2,353 10,061 6,477 5,173 1,649 1,339 2,317 3,445 8,663
    Deposits 1,733,639 23,441 1,197,555 34,038 21,354 117,674 47,576 77,800 17,021 9,532 25,667 36,953 125,029
        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		 1,673,837 23,436 1,137,957 34,021 21,350 117,540 47,574 77,769 17,020 9,531 25,666 36,952 125,022
        U.S. Treasury, General Account 50,066 0 50,066 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 269 1 242 3 3 8 2 1 0 0 0 1 6
        Other 9,467 3 9,291 13 1 126 0 30 0 0 1 1 1
    Deferred availability cash items 1,214 41 11 130 139 21 245 25 29 199 36 68 269
    Interest on Federal Reserve notes due
        to U.S. Treasury 14		 948 -236 668 22 13 104 87 75 22 22 33 51 88
    Other liabilities and accrued
        dividends 15		 18,621 214 14,681 274 256 805 518 437 185 159 199 304 588
 
Total liabilities 2,885,798 64,999 1,633,576 77,161 75,661 215,866 172,288 159,972 49,107 26,952 58,590 108,775 242,851
 
Capital  
    Capital paid in 27,274 1,322 8,696 2,333 1,998 5,563 1,502 718 220 109 268 432 4,112
    Surplus 27,274 1,322 8,696 2,333 1,998 5,563 1,502 718 220 109 268 432 4,112
    Other capital 0 0 0 0 0 0 0 0 0 0 0 0 0
 
Total liabilities and capital 2,940,346 67,644 1,650,968 81,827 79,657 226,992 175,292 161,408 49,548 27,171 59,127 109,638 251,076
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, February 15, 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
Feb 15, 2012
Federal Reserve notes outstanding 1,221,648
    Less: Notes held by F.R. Banks not subject to collateralization 177,389
        Federal Reserve notes to be collateralized 1,044,259
Collateral held against Federal Reserve notes 1,044,259
    Gold certificate account 11,037
    Special drawing rights certificate account 5,200
    U.S. Treasury, agency debt, and mortgage-backed securities pledged 1,2 1,028,023
    Other assets pledged 0
Memo:  
Total U.S. Treasury, agency debt, and mortgage-backed securities 1,2 2,616,375
    Less: Face value of securities under reverse repurchase agreements 75,487
        U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 2,540,888
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: February 16, 2012