Federal Reserve Statistical Release, H.4.1, Factors Affecting Reserve Balances; title with eagle logo links to Statistical Release home page
Release Date:   March 8, 2012
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June 12, 2014

Table 10 line items "Less: Face value of securities under reverse repurchase agreements" and "U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged" have been corrected to include securities pledged as collateral for tri-party reverse repurchase agreements. The revised data are reported at the following link: http://www.federalreserve.gov/releases/h41/2014update.htm. Historical data incorporating this correction can be accessed through the Data Download Program (DDP) at http://www.federalreserve.gov/datadownload/Choose.aspx?rel=H41.


FEDERAL RESERVE statistical release

H.4.1

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

March 8, 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
Mar 7, 2012
Week ended
Mar 7, 2012		 Change from week ended
Feb 29, 2012 Mar 9, 2011
Reserve Bank credit 2,864,875 - 43,326 + 318,189 2,867,231
    Securities held outright 1 2,598,227 - 4,415 + 253,205 2,599,878
        U.S. Treasury securities 1,657,049 + 3,088 + 404,209 1,659,279
            Bills 2 18,423 0 0 18,423
            Notes and bonds, nominal 2 1,561,081 + 3,405 + 388,160 1,564,429
            Notes and bonds, inflation-indexed 2 68,508 - 271 + 13,508 67,558
            Inflation compensation 3 9,037 - 46 + 2,540 8,869
        Federal agency debt securities 2 100,382 - 435 - 42,867 99,803
        Mortgage-backed securities 4 840,796 - 7,069 - 108,136 840,796
    Repurchase agreements 5 0 0 0 0
    Loans 7,520 - 68 - 12,791 7,430
        Primary credit 4 - 15 - 4 9
        Secondary credit 0 0 0 0
        Seasonal credit 3 + 3 - 5 4
        Term Asset-Backed Securities Loan Facility 6 7,513 - 56 - 12,782 7,417
        Other credit extensions 0 0 0 0
    Net portfolio holdings of Maiden Lane LLC 7 6,441 - 54 - 19,623 6,453
    Net portfolio holdings of Maiden Lane II LLC 8 3,823 - 2,976 - 12,067 3,635
    Net portfolio holdings of Maiden Lane III LLC 9 17,627 + 23 - 5,230 17,720
    Net portfolio holdings of TALF LLC 10 825 0 + 122 825
    Float -1,013 - 167 + 824 -1,077
    Central bank liquidity swaps 11 71,386 - 36,392 + 71,386 71,386
    Other Federal Reserve assets 12 160,039 + 722 + 42,362 160,981
Gold stock 11,041 0 0 11,041
Special drawing rights certificate account 5,200 0 0 5,200
Treasury currency outstanding 13 44,324 + 14 + 554 44,324
 
Total factors supplying reserve funds 2,925,440 - 43,311 + 318,743 2,927,796
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
Mar 7, 2012
Week ended
Mar 7, 2012		 Change from week ended
Feb 29, 2012 Mar 9, 2011
Currency in circulation 13 1,092,645 + 3,445 + 93,342 1,095,060
Reverse repurchase agreements 14 87,477 - 2,327 + 31,193 86,429
    Foreign official and international accounts 87,205 - 2,599 + 30,921 85,169
    Others 271 + 271 + 271 1,260
Treasury cash holdings 162 + 2 - 34 166
Deposits with F.R. Banks, other than reserve balances 77,451 - 28,624 - 41,368 69,623
    Term deposits held by depository institutions 0 0 - 5,070 0
    U.S. Treasury, General Account 36,963 - 2,512 + 1,122 26,437
    U.S. Treasury, Supplementary Financing Account 0 0 - 74,985 0
    Foreign official 127 - 54 + 1 127
    Service-related 1,954 - 1 - 366 1,954
        Required clearing balances 1,954 - 1 - 366 1,954
        Adjustments to compensate for float 0 0 0 0
    Other 38,406 - 26,059 + 37,929 41,106
Other liabilities and capital 15 75,648 + 154 + 2,332 74,392
 
Total factors, other than reserve balances,
    absorbing reserve funds		 1,333,383 - 27,350 + 85,465 1,325,670
 
Reserve balances with Federal Reserve Banks 1,592,057 - 15,961 + 233,278 1,602,126
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
Mar 7, 2012
Week ended
Mar 7, 2012		 Change from week ended
Feb 29, 2012 Mar 9, 2011
Marketable securities held in custody for foreign
    official and international accounts 1		 3,461,257 + 1,731 + 64,522 3,459,700
    U.S. Treasury securities 2,720,821 - 311 + 84,467 2,720,492
    Federal agency securities 2 740,436 + 2,042 - 19,945 739,209
Securities lent to dealers 20,668 + 2,195 + 3,682 19,984
    Overnight facility 3 20,668 + 2,195 + 3,682 19,984
        U.S. Treasury securities 19,684 + 2,286 + 3,489 19,014
        Federal agency debt securities 984 - 91 + 193 970
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, March 7, 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 9 238 4,631 2,552 0 ... 7,430
U.S. Treasury securities 2  
    Holdings 20,587 24,364 55,708 599,626 691,931 267,063 1,659,279
    Weekly changes + 3,867 - 3,864 - 9,074 - 1,121 + 4,046 + 3,825 - 2,322
Federal agency debt securities 3  
    Holdings 811 5,740 19,664 60,259 10,982 2,347 99,803
    Weekly changes - 1,014 0 0 0 0 0 - 1,014
Mortgage-backed securities 4  
    Holdings 0 0 1 11 85 840,699 840,796
    Weekly changes 0 0 0 0 + 3 - 2 + 1
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 8,220 63,166 0 0 0 0 71,386
   
Reverse repurchase agreements 6 86,429 0 ... ... ... ... 86,429
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
Mar 7, 2012
Mortgage-backed securities held outright 1 840,796
 
Commitments to buy mortgage-backed securities 2 46,150
Commitments to sell mortgage-backed securities 2 850
 
Cash and cash equivalents 3 13
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
Mar 7, 2012
Net portfolio holdings of Maiden Lane LLC 1 6,453
 
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 1,398
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
Mar 7, 2012
Net portfolio holdings of Maiden Lane II LLC 1 3,635
 
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
Deferred payment and accrued interest payable to subsidiaries of American International Group, Inc. 3 894
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
Mar 7, 2012
Net portfolio holdings of Maiden Lane III LLC 1 17,720
 
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 2 714
Outstanding principal amount and accrued interest on loan payable to American International Group, Inc. 3 5,575
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
Mar 7, 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
Mar 7, 2012		 Change since
Wednesday
Feb 29, 2012		 Wednesday
Mar 9, 2011
Assets  
    Gold certificate account   11,037 0 0
    Special drawing rights certificate account   5,200 0 0
    Coin   2,362 - 21 + 134
    Securities, repurchase agreements, and loans   2,607,308 - 3,484 + 228,882
        Securities held outright 1   2,599,878 - 3,335 + 241,628
            U.S. Treasury securities   1,659,279 - 2,322 + 393,210
                Bills 2   18,423 0 0
                Notes and bonds, nominal 2   1,564,429 - 795 + 379,189
                Notes and bonds, inflation-indexed 2   67,558 - 1,330 + 11,701
                Inflation compensation 3   8,869 - 197 + 2,320
            Federal agency debt securities 2   99,803 - 1,014 - 43,446
            Mortgage-backed securities 4   840,796 + 1 - 108,136
        Repurchase agreements 5   0 0 0
        Loans   7,430 - 150 - 12,746
    Net portfolio holdings of Maiden Lane LLC 6   6,453 + 14 - 19,626
    Net portfolio holdings of Maiden Lane II LLC 7   3,635 - 3,666 - 12,256
    Net portfolio holdings of Maiden Lane III LLC 8   17,720 + 109 - 5,257
    Net portfolio holdings of TALF LLC 9   825 0 + 122
    Items in process of collection (68) 165 + 11 - 15
    Bank premises   2,385 - 3 + 171
    Central bank liquidity swaps 10   71,386 - 36,377 + 71,386
    Other assets 11   158,579 + 2,433 + 42,373
 
Total assets (68) 2,887,054 - 40,988 + 305,914
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
Mar 7, 2012		 Change since
Wednesday
Feb 29, 2012		 Wednesday
Mar 9, 2011
Liabilities  
    Federal Reserve notes, net of F.R. Bank holdings   1,053,260 + 3,384 + 93,305
    Reverse repurchase agreements 12   86,429 - 1,124 + 30,482
    Deposits (0) 1,671,731 - 42,748 + 181,095
        Term deposits held by depository institutions   0 0 - 5,070
        Other deposits held by depository institutions   1,604,062 - 3,045 + 222,719
        U.S. Treasury, General Account   26,437 - 36,105 - 2,234
        U.S. Treasury, Supplementary Financing Account   0 0 - 74,985
        Foreign official   127 0 + 3
        Other (0) 41,106 - 3,596 + 40,663
    Deferred availability cash items (68) 1,242 + 178 - 918
    Other liabilities and accrued dividends 13   19,947 - 603 + 578
 
Total liabilities (68) 2,832,609 - 40,914 + 304,542
 
Capital accounts  
    Capital paid in   27,223 - 37 + 687
    Surplus   27,223 - 37 + 687
    Other capital accounts   0 0 0
 
Total capital   54,445 - 74 + 1,372
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, March 7, 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 2,362 62 119 161 167 418 204 334 33 60 176 234 394
    Securities, repurchase agreements,
        and loans		 2,607,308 63,922 1,216,472 89,062 70,228 300,259 193,282 154,403 49,208 39,956 69,162 102,825 258,528
        Securities held outright 1 2,599,878 63,922 1,209,055 89,062 70,228 300,259 193,282 154,395 49,208 39,956 69,158 102,825 258,528
            U.S. Treasury securities 1,659,279 40,796 771,636 56,840 44,821 191,630 123,355 98,537 31,405 25,501 44,138 65,625 164,996
                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 1,640,856 40,343 763,069 56,209 44,323 189,502 121,986 97,443 31,057 25,217 43,648 64,896 163,164
            Federal agency debt securities 2 99,803 2,454 46,413 3,419 2,696 11,526 7,420 5,927 1,889 1,534 2,655 3,947 9,924
            Mortgage-backed securities 4 840,796 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 7,430 0 7,417 0 0 0 0 9 0 0 4 0 0
    Net portfolio holdings of Maiden
        Lane LLC 6		 6,453 0 6,453 0 0 0 0 0 0 0 0 0 0
    Net portfolio holdings of Maiden
        Lane II LLC 7		 3,635 0 3,635 0 0 0 0 0 0 0 0 0 0
    Net portfolio holdings of Maiden
        Lane III LLC 8		 17,720 0 17,720 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 233 7 1 56 39 4 11 18 5 7 5 12 70
    Bank premises 2,385 123 472 66 125 231 213 204 133 105 258 244 212
    Central bank liquidity swaps 10 71,386 2,502 23,027 6,192 5,278 14,766 4,082 1,905 584 291 710 1,143 10,905
    Other assets 11 158,579 4,191 69,834 6,820 5,490 20,744 11,378 8,567 2,749 2,188 3,801 5,701 17,116
    Interdistrict settlement account 0 - 6,006 + 220,811 - 2,263 - 4,349 - 111,916 - 32,006 - 9,521 - 4,673 - 12,776 - 16,347 + 3,191 - 24,145
 
Total assets 2,887,123 65,387 1,565,053 100,736 77,664 225,791 179,210 157,189 48,508 30,119 58,235 114,360 264,870
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, March 7, 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 1,227,332 44,159 438,153 48,231 60,042 102,171 143,304 87,924 33,517 21,901 34,331 79,138 134,462
        Less: Notes held by F.R. Banks 174,072 4,724 58,420 6,119 8,102 11,123 26,619 11,473 3,948 4,569 3,731 11,098 24,146
            Federal Reserve notes, net 1,053,260 39,435 379,733 42,113 51,940 91,049 116,685 76,452 29,569 17,331 30,599 68,040 110,315
    Reverse repurchase agreements 12 86,429 2,125 40,193 2,961 2,335 9,982 6,425 5,133 1,636 1,328 2,299 3,418 8,594
    Deposits 1,671,731 21,062 1,112,195 50,645 18,792 112,796 52,195 73,636 16,629 10,877 24,533 41,615 136,756
        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		 1,604,062 21,043 1,044,785 50,631 18,789 112,633 52,193 73,606 16,629 10,859 24,532 41,613 136,750
        U.S. Treasury, General Account 26,437 0 26,437 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 41,106 18 40,874 10 0 155 0 29 0 18 1 1 1
    Deferred availability cash items 1,310 46 0 115 155 26 281 34 33 185 43 86 306
    Interest on Federal Reserve notes due
        to U.S. Treasury 13		 1,410 -126 779 98 -40 253 81 95 27 24 39 59 123
    Other liabilities and accrued
        dividends 14		 18,537 201 14,813 268 251 770 487 405 175 154 185 278 550
 
Total liabilities 2,832,677 62,743 1,547,713 96,199 73,434 214,874 176,154 155,753 48,068 29,900 57,698 113,496 256,645
 
Capital  
    Capital paid in 27,223 1,322 8,670 2,269 2,115 5,458 1,528 718 220 109 268 432 4,113
    Surplus 27,223 1,322 8,670 2,269 2,115 5,458 1,528 718 220 109 268 432 4,113
    Other capital 0 0 0 0 0 0 0 0 0 0 0 0 0
 
Total liabilities and capital 2,887,123 65,387 1,565,053 100,736 77,664 225,791 179,210 157,189 48,508 30,119 58,235 114,360 264,870
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, March 7, 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
Mar 7, 2012
Federal Reserve notes outstanding 1,227,332
    Less: Notes held by F.R. Banks not subject to collateralization 174,072
        Federal Reserve notes to be collateralized 1,053,260
Collateral held against Federal Reserve notes 1,053,260
    Gold certificate account 11,037
    Special drawing rights certificate account 5,200
    U.S. Treasury, agency debt, and mortgage-backed securities pledged 1,2 1,037,023
    Other assets pledged 0
Memo:  
Total U.S. Treasury, agency debt, and mortgage-backed securities 1,2 2,599,878
    Less: Face value of securities under reverse repurchase agreements 75,104
        U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 2,524,774
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 8, 2012