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Release Date:   March 1, 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

March 1, 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 29, 2012
Week ended
Feb 29, 2012		 Change from week ended
Feb 22, 2012 Mar 2, 2011
Reserve Bank credit 2,908,201 - 9,234 + 389,534 2,908,375
    Securities held outright 1 2,602,642 - 10,138 + 284,024 2,603,213
        U.S. Treasury securities 1,653,961 - 6,213 + 428,973 1,661,601
            Bills 2 18,423 0 0 18,423
            Notes and bonds, nominal 2 1,557,676 - 6,188 + 411,601 1,565,224
            Notes and bonds, inflation-indexed 2 68,779 + 19 + 14,705 68,888
            Inflation compensation 3 9,083 - 44 + 2,668 9,066
        Federal agency debt securities 2 100,817 0 - 42,556 100,817
        Mortgage-backed securities 4 847,865 - 3,924 - 102,391 840,795
    Repurchase agreements 5 0 0 0 0
    Loans 7,588 - 358 - 12,946 7,580
        Primary credit 19 + 15 + 1 15
        Secondary credit 0 0 0 0
        Seasonal credit 0 0 - 5 0
        Term Asset-Backed Securities Loan Facility 6 7,569 - 374 - 12,942 7,564
        Other credit extensions 0 0 0 0
    Net portfolio holdings of Maiden Lane LLC 7 6,495 + 16 - 19,550 6,439
    Net portfolio holdings of Maiden Lane II LLC 8 6,799 + 85 - 9,237 7,301
    Net portfolio holdings of Maiden Lane III LLC 9 17,604 + 9 - 5,220 17,611
    Net portfolio holdings of TALF LLC 10 825 + 5 + 122 825
    Float -846 + 62 + 724 -909
    Central bank liquidity swaps 11 107,778 - 181 + 107,708 107,763
    Other Federal Reserve assets 12 159,317 + 1,267 + 43,909 158,552
Gold stock 11,041 0 0 11,041
Special drawing rights certificate account 5,200 0 0 5,200
Treasury currency outstanding 13 44,310 + 14 + 572 44,310
 
Total factors supplying reserve funds 2,968,751 - 9,220 + 390,105 2,968,926
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 29, 2012
Week ended
Feb 29, 2012		 Change from week ended
Feb 22, 2012 Mar 2, 2011
Currency in circulation 13 1,089,200 + 245 + 92,086 1,091,646
Reverse repurchase agreements 14 89,804 + 911 + 29,179 87,553
    Foreign official and international accounts 89,804 + 911 + 29,179 87,553
    Others 0 0 0 0
Treasury cash holdings 160 + 3 - 26 161
Deposits with F.R. Banks, other than reserve balances 106,075 + 3,091 - 49,019 109,326
    Term deposits held by depository institutions 0 0 - 5,070 0
    U.S. Treasury, General Account 39,475 - 16,320 - 7,583 62,542
    U.S. Treasury, Supplementary Financing Account 0 0 - 99,980 0
    Foreign official 181 + 43 + 3 127
    Service-related 1,955 - 16 - 365 1,955
        Required clearing balances 1,955 - 16 - 365 1,955
        Adjustments to compensate for float 0 0 0 0
    Other 64,465 + 19,384 + 63,978 44,702
Other liabilities and capital 15 75,494 + 255 + 2,252 75,070
 
Total factors, other than reserve balances,
    absorbing reserve funds		 1,360,733 + 4,504 + 74,472 1,363,756
 
Reserve balances with Federal Reserve Banks 1,608,018 - 13,724 + 315,633 1,605,170
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. 
Includes credit extended by the Federal Reserve Bank of New York to eligible borrowers through the Term Asset-Backed Securities Loan Facility.
7. 
Refer to table 4 and the note on consolidation accompanying table 9.
8. 
Refer to table 5 and the note on consolidation accompanying table 9.
9. 
Refer to table 6 and the note on consolidation accompanying table 9.
10. 
Refer to table 7 and the note on consolidation accompanying table 9.
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 FRBNY to eligible borrowers through the Term Asset-Backed Securities Loan Facility.
13. 
Estimated.
14. 
Cash value of agreements, which are collateralized by U.S. Treasury securities, federal agency debt securities, and mortgage-backed securities.
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 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 29, 2012
Week ended
Feb 29, 2012		 Change from week ended
Feb 22, 2012 Mar 2, 2011
Marketable securities held in custody for foreign
    official and international accounts 1		 3,459,526 - 2,299 + 75,076 3,460,018
    U.S. Treasury securities 2,721,132 - 6,660 + 97,506 2,719,219
    Federal agency securities 2 738,394 + 4,361 - 22,430 740,799
Securities lent to dealers 18,473 - 894 + 4,338 19,263
    Overnight facility 3 18,473 - 894 + 4,338 19,263
        U.S. Treasury securities 17,398 - 983 + 4,545 17,884
        Federal agency debt securities 1,075 + 89 - 207 1,379
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 29, 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 15 235 4,726 2,604 0 ... 7,580
U.S. Treasury securities 2  
    Holdings 16,720 28,228 64,782 600,747 687,885 263,238 1,661,601
    Weekly changes + 546 - 2,080 + 5,854 - 2,527 - 641 + 3,867 + 5,020
Federal agency debt securities 3  
    Holdings 1,825 5,740 19,664 60,259 10,982 2,347 100,817
    Weekly changes + 811 - 811 + 1,025 - 1,025 0 0 0
Mortgage-backed securities 4  
    Holdings 0 0 1 11 82 840,701 840,795
    Weekly changes 0 0 0 - 1 - 1 - 12,248 - 12,250
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 59,123 48,641 0 0 0 0 107,763
   
Reverse repurchase agreements 6 87,553 0 ... ... ... ... 87,553
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 29, 2012
Mortgage-backed securities held outright 1 840,795
 
Commitments to buy mortgage-backed securities 2 39,301
Commitments to sell mortgage-backed securities 2 0
 
Cash and cash equivalents 3 21
1. 
Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. Current face value of the securities, which is the remaining principal balance of the underlying mortgages.
2. 
Current face value. Generally settle within 180 days and include commitments associated with outright transactions, dollar rolls, and coupon swaps.
3. 
This amount is included in other Federal Reserve assets in table 1 and in other assets in table 8 and table 9.

4. Information on Principal Accounts of Maiden Lane LLC
Millions of dollars
Account name Wednesday
Feb 29, 2012
Net portfolio holdings of Maiden Lane LLC 1 6,439
 
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 2 761
Outstanding principal amount and accrued interest on loan payable to JPMorgan Chase & Co. 3 1,397
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 29, 2012
Net portfolio holdings of Maiden Lane II LLC 1 7,301
 
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 2 580
Deferred payment and accrued interest payable to subsidiaries of American International Group, Inc. 3 1,112
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 29, 2012
Net portfolio holdings of Maiden Lane III LLC 1 17,611
 
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 2 712
Outstanding principal amount and accrued interest on loan payable to American International Group, Inc. 3 5,571
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 29, 2012
Asset-backed securities holdings 1 0
Other investments, net 825
Net portfolio holdings of TALF LLC 825
 
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 29, 2012		 Change since
Wednesday
Feb 22, 2012		 Wednesday
Mar 2, 2011
Assets  
    Gold certificate account   11,037 0 0
    Special drawing rights certificate account   5,200 0 0
    Coin   2,383 - 23 + 138
    Securities, repurchase agreements, and loans   2,610,792 - 7,283 + 261,972
        Securities held outright 1   2,603,213 - 7,230 + 274,774
            U.S. Treasury securities   1,661,601 + 5,020 + 425,343
                Bills 2   18,423 0 0
                Notes and bonds, nominal 2   1,565,224 + 4,938 + 408,180
                Notes and bonds, inflation-indexed 2   68,888 + 128 + 14,531
                Inflation compensation 3   9,066 - 46 + 2,632
            Federal agency debt securities 2   100,817 0 - 42,432
            Mortgage-backed securities 4   840,795 - 12,250 - 108,137
        Repurchase agreements 5   0 0 0
        Loans   7,580 - 52 - 12,801
    Net portfolio holdings of Maiden Lane LLC 6   6,439 - 65 - 19,623
    Net portfolio holdings of Maiden Lane II LLC 7   7,301 + 586 - 8,589
    Net portfolio holdings of Maiden Lane III LLC 8   17,611 + 8 - 5,226
    Net portfolio holdings of TALF LLC 9   825 0 + 122
    Items in process of collection (65) 154 - 55 - 30
    Bank premises   2,388 + 210 + 175
    Central bank liquidity swaps 10   107,763 - 196 + 107,693
    Other assets 11   156,146 - 293 + 42,292
 
Total assets (65) 2,928,042 - 7,107 + 378,927
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 29, 2012		 Change since
Wednesday
Feb 22, 2012		 Wednesday
Mar 2, 2011
Liabilities  
    Federal Reserve notes, net of F.R. Bank holdings   1,049,876 + 1,872 + 92,163
    Reverse repurchase agreements 12   87,553 - 2,271 + 25,092
    Deposits (0) 1,714,479 - 6,806 + 260,284
        Term deposits held by depository institutions   0 0 - 5,070
        Other deposits held by depository institutions   1,607,107 - 15,693 + 308,399
        U.S. Treasury, General Account   62,542 + 26,509 + 13,000
        U.S. Treasury, Supplementary Financing Account   0 0 - 99,980
        Foreign official   127 - 3 - 252
        Other (0) 44,702 - 17,620 + 44,185
    Deferred availability cash items (65) 1,064 - 578 - 1,148
    Other liabilities and accrued dividends 13   20,550 + 750 + 1,070
 
Total liabilities (65) 2,873,523 - 7,033 + 377,462
 
Capital accounts  
    Capital paid in   27,260 - 37 + 733
    Surplus   27,260 - 37 + 733
    Other capital accounts   0 0 0
 
Total capital   54,519 - 75 + 1,465
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. 
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.
11. 
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.
12. 
Cash value of agreements, which are collateralized by U.S. Treasury securities, federal agency debt securities, and mortgage-backed securities.
13. 
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.


9. Statement of Condition of Each Federal Reserve Bank, February 29, 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 2,383 57 119 162 169 421 216 335 35 61 177 237 397
    Securities, repurchase agreements,
        and loans		 2,610,792 64,004 1,218,170 89,176 70,318 300,645 193,530 154,593 49,271 40,014 69,255 102,957 258,860
        Securities held outright 1 2,603,213 64,004 1,210,606 89,176 70,318 300,645 193,530 154,593 49,271 40,007 69,247 102,957 258,860
            U.S. Treasury securities 1,661,601 40,853 772,716 56,920 44,883 191,898 123,528 98,675 31,449 25,536 44,199 65,716 165,227
                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 1,643,178 40,400 764,148 56,289 44,386 189,770 122,158 97,581 31,100 25,253 43,709 64,988 163,395
            Federal agency debt securities 2 100,817 2,479 46,884 3,454 2,723 11,643 7,495 5,987 1,908 1,549 2,682 3,987 10,025
            Mortgage-backed securities 4 840,795 20,672 391,006 28,802 22,712 97,103 62,507 49,931 15,914 12,922 22,366 33,254 83,607
        Repurchase agreements 5 0 0 0 0 0 0 0 0 0 0 0 0 0
        Loans 7,580 0 7,564 0 0 0 0 0 0 7 8 0 0
    Net portfolio holdings of Maiden
        Lane LLC 6		 6,439 0 6,439 0 0 0 0 0 0 0 0 0 0
    Net portfolio holdings of Maiden
        Lane II LLC 7		 7,301 0 7,301 0 0 0 0 0 0 0 0 0 0
    Net portfolio holdings of Maiden
        Lane III LLC 8		 17,611 0 17,611 0 0 0 0 0 0 0 0 0 0
    Net portfolio holdings of TALF LLC 9 825 0 825 0 0 0 0 0 0 0 0 0 0
    Items in process of collection 220 5 0 52 43 4 29 14 5 10 5 11 42
    Bank premises 2,388 122 473 67 125 232 213 205 133 105 258 244 212
    Central bank liquidity swaps 10 107,763 3,778 34,762 9,347 7,967 22,291 6,162 2,875 881 440 1,072 1,726 16,463
    Other assets 11 156,146 4,132 68,643 6,837 5,434 20,479 11,179 8,408 2,699 2,143 3,730 5,581 16,880
    Interdistrict settlement account 0 - 1,006 + 270,195 - 9,135 - 8,527 - 134,385 - 35,575 - 5,364 - 4,830 - 14,014 - 16,759 - 2,533 - 38,066
 
Total assets 2,928,107 71,678 1,630,223 97,148 76,217 210,971 177,801 162,344 48,663 29,045 58,208 109,233 256,578
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 29, 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 1,226,129 44,180 438,348 47,337 60,093 101,280 143,536 87,936 33,558 22,021 34,161 79,267 134,412
        Less: Notes held by F.R. Banks 176,253 4,721 59,381 6,303 8,016 11,428 25,983 11,599 3,972 4,743 3,871 11,386 24,850
            Federal Reserve notes, net 1,049,876 39,459 378,968 41,035 52,076 89,851 117,553 76,337 29,586 17,278 30,289 67,881 109,562
    Reverse repurchase agreements 12 87,553 2,153 40,716 2,999 2,365 10,112 6,509 5,199 1,657 1,346 2,329 3,463 8,706
    Deposits 1,714,479 27,343 1,177,139 48,021 17,335 98,865 49,872 78,826 16,745 9,794 24,787 36,610 129,143
        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		 1,607,107 27,340 1,069,978 48,001 17,332 98,749 49,870 78,796 16,744 9,768 24,786 36,608 129,136
        U.S. Treasury, General Account 62,542 0 62,542 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 127 1 100 3 3 8 2 1 0 0 0 1 6
        Other 44,702 2 44,519 16 0 108 0 29 0 25 1 1 1
    Deferred availability cash items 1,129 37 0 101 140 21 237 26 27 230 32 65 213
    Interest on Federal Reserve notes due
        to U.S. Treasury 13		 2,172 -157 1,349 64 43 225 151 114 36 29 53 74 191
    Other liabilities and accrued
        dividends 14		 18,379 198 14,711 262 248 762 475 405 173 149 181 277 537
 
Total liabilities 2,873,588 69,033 1,612,883 92,481 72,207 199,835 174,797 160,908 48,223 28,826 57,671 108,370 248,352
 
Capital  
    Capital paid in 27,260 1,322 8,670 2,333 2,005 5,568 1,502 718 220 109 268 432 4,113
    Surplus 27,260 1,322 8,670 2,333 2,005 5,568 1,502 718 220 109 268 432 4,113
    Other capital 0 0 0 0 0 0 0 0 0 0 0 0 0
 
Total liabilities and capital 2,928,107 71,678 1,630,223 97,148 76,217 210,971 177,801 162,344 48,663 29,045 58,208 109,233 256,578
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 29, 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. 
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.
11. 
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.
12. 
Cash value of agreements, which are collateralized by U.S. Treasury securities, federal agency debt securities, and mortgage-backed securities.
13. 
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.
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 below.


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 29, 2012
Federal Reserve notes outstanding 1,226,129
    Less: Notes held by F.R. Banks not subject to collateralization 176,253
        Federal Reserve notes to be collateralized 1,049,876
Collateral held against Federal Reserve notes 1,049,876
    Gold certificate account 11,037
    Special drawing rights certificate account 5,200
    U.S. Treasury, agency debt, and mortgage-backed securities pledged 1,2 1,033,639
    Other assets pledged 0
Memo:  
Total U.S. Treasury, agency debt, and mortgage-backed securities 1,2 2,603,213
    Less: Face value of securities under reverse repurchase agreements 76,378
        U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 2,526,835
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: March 1, 2012