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Release Date:   March 22, 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 22, 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 21, 2012
Week ended
Mar 21, 2012		 Change from week ended
Mar 14, 2012 Mar 23, 2011
Reserve Bank credit 2,871,227 - 343 + 289,062 2,875,595
    Securities held outright 1 2,609,637 + 1,128 + 231,370 2,613,737
        U.S. Treasury securities 1,662,477 - 59 + 367,127 1,663,484
            Bills 2 18,423 0 0 18,423
            Notes and bonds, nominal 2 1,566,335 - 1,303 + 352,603 1,567,314
            Notes and bonds, inflation-indexed 2 68,667 + 1,109 + 12,138 68,667
            Inflation compensation 3 9,052 + 135 + 2,385 9,081
        Federal agency debt securities 2 98,992 - 811 - 39,931 98,992
        Mortgage-backed securities 4 848,168 + 1,998 - 95,826 851,260
    Repurchase agreements 5 0 0 0 0
    Loans 7,379 - 43 - 12,423 7,299
        Primary credit 12 - 7 + 9 3
        Secondary credit 0 0 0 0
        Seasonal credit 6 + 2 0 7
        Term Asset-Backed Securities Loan Facility 6 7,362 - 37 - 12,430 7,289
        Other credit extensions 0 0 0 0
    Net portfolio holdings of Maiden Lane LLC 7 5,371 - 926 - 20,191 5,422
    Net portfolio holdings of Maiden Lane II LLC 8 1,176 - 2,459 - 14,721 19
    Net portfolio holdings of Maiden Lane III LLC 9 17,436 - 243 - 5,478 17,449
    Net portfolio holdings of TALF LLC 10 826 + 1 + 117 831
    Float -848 + 42 + 343 -837
    Central bank liquidity swaps 11 65,593 + 720 + 65,593 65,593
    Other Federal Reserve assets 12 164,656 + 1,436 + 44,451 166,082
Gold stock 11,041 0 0 11,041
Special drawing rights certificate account 5,200 0 0 5,200
Treasury currency outstanding 13 44,352 + 14 + 572 44,352
 
Total factors supplying reserve funds 2,931,820 - 329 + 289,634 2,936,188
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 21, 2012
Week ended
Mar 21, 2012		 Change from week ended
Mar 14, 2012 Mar 23, 2011
Currency in circulation 13 1,096,142 + 944 + 93,468 1,097,343
Reverse repurchase agreements 14 93,970 + 5,459 + 35,747 85,888
    Foreign official and international accounts 92,899 + 5,185 + 34,676 85,888
    Others 1,071 + 274 + 1,071 0
Treasury cash holdings 163 - 3 - 47 160
Deposits with F.R. Banks, other than reserve balances 142,495 + 49,116 + 26,845 136,845
    Term deposits held by depository institutions 0 0 0 0
    U.S. Treasury, General Account 102,488 + 60,672 + 15,208 87,172
    U.S. Treasury, Supplementary Financing Account 0 0 - 24,996 0
    Foreign official 130 + 3 - 4 144
    Service-related 1,953 0 - 559 1,953
        Required clearing balances 1,953 0 - 559 1,953
        Adjustments to compensate for float 0 0 0 0
    Other 37,925 - 11,558 + 37,198 47,576
Other liabilities and capital 15 75,442 - 96 + 1,997 73,146
 
Total factors, other than reserve balances,
    absorbing reserve funds		 1,408,212 + 55,421 + 158,010 1,393,382
 
Reserve balances with Federal Reserve Banks 1,523,608 - 55,750 + 131,624 1,542,805
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 21, 2012
Week ended
Mar 21, 2012		 Change from week ended
Mar 14, 2012 Mar 23, 2011
Marketable securities held in custody for foreign
    official and international accounts 1		 3,477,258 + 11,122 + 75,509 3,469,025
    U.S. Treasury securities 2,740,581 + 12,602 + 100,406 2,733,209
    Federal agency securities 2 736,677 - 1,481 - 24,897 735,816
Securities lent to dealers 19,292 - 1,519 + 4,517 20,315
    Overnight facility 3 19,292 - 1,519 + 4,517 20,315
        U.S. Treasury securities 18,581 - 1,370 + 4,655 19,628
        Federal agency debt securities 711 - 149 - 138 687
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 21, 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 10 570 4,613 2,105 0 ... 7,299
U.S. Treasury securities 2  
    Holdings 16,991 28,040 53,727 581,934 707,665 275,127 1,663,484
    Weekly changes - 76 + 154 - 1,982 - 9,073 + 10,610 + 4,083 + 3,716
Federal agency debt securities 3  
    Holdings 2,514 4,365 19,690 59,094 10,982 2,347 98,992
    Weekly changes - 811 + 1,139 + 26 - 1,165 0 0 - 811
Mortgage-backed securities 4  
    Holdings 0 0 1 11 99 851,150 851,260
    Weekly changes 0 0 0 0 + 14 - 2,638 - 2,625
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 40,799 24,795 0 0 0 0 65,593
   
Reverse repurchase agreements 6 85,888 0 ... ... ... ... 85,888
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 21, 2012
Mortgage-backed securities held outright 1 851,260
 
Commitments to buy mortgage-backed securities 2 36,826
Commitments to sell mortgage-backed securities 2 0
 
Cash and cash equivalents 3 172
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 21, 2012
Net portfolio holdings of Maiden Lane LLC 1 5,422
 
Outstanding principal amount of loan extended by the Federal Reserve Bank of New York 2 2,150
Accrued interest payable to the Federal Reserve Bank of New York 2 762
Outstanding principal amount and accrued interest on loan payable to JPMorgan Chase & Co. 3 1,401
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 21, 2012
Net portfolio holdings of Maiden Lane II LLC 1 19
 
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 0
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 21, 2012
Net portfolio holdings of Maiden Lane III LLC 1 17,449
 
Outstanding principal amount of loan extended by the Federal Reserve Bank of New York 2 8,271
Accrued interest payable to the Federal Reserve Bank of New York 2 718
Outstanding principal amount and accrued interest on loan payable to American International Group, Inc. 3 5,582
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 21, 2012
Asset-backed securities holdings 1 0
Other investments, net 831
Net portfolio holdings of TALF LLC 831
 
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 21, 2012		 Change since
Wednesday
Mar 14, 2012		 Wednesday
Mar 23, 2011
Assets  
    Gold certificate account   11,037 0 0
    Special drawing rights certificate account   5,200 0 0
    Coin   2,327 - 15 + 134
    Securities, repurchase agreements, and loans   2,621,036 + 199 + 219,942
        Securities held outright 1   2,613,737 + 281 + 232,156
            U.S. Treasury securities   1,663,484 + 3,716 + 358,245
                Bills 2   18,423 0 0
                Notes and bonds, nominal 2   1,567,314 + 2,472 + 344,625
                Notes and bonds, inflation-indexed 2   68,667 + 1,109 + 11,242
                Inflation compensation 3   9,081 + 136 + 2,379
            Federal agency debt securities 2   98,992 - 811 - 33,503
            Mortgage-backed securities 4   851,260 - 2,625 - 92,588
        Repurchase agreements 5   0 0 0
        Loans   7,299 - 82 - 12,214
    Net portfolio holdings of Maiden Lane LLC 6   5,422 + 60 - 20,167
    Net portfolio holdings of Maiden Lane II LLC 7   19 - 3,616 - 15,881
    Net portfolio holdings of Maiden Lane III LLC 8   17,449 + 15 - 5,470
    Net portfolio holdings of TALF LLC 9   831 + 6 + 113
    Items in process of collection (70) 124 - 102 - 211
    Bank premises   2,385 + 1 + 166
    Central bank liquidity swaps 10   65,593 + 720 + 65,593
    Other assets 11   163,569 + 1,876 + 45,367
 
Total assets (70) 2,894,991 - 858 + 289,585
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 21, 2012		 Change since
Wednesday
Mar 14, 2012		 Wednesday
Mar 23, 2011
Liabilities  
    Federal Reserve notes, net of F.R. Bank holdings   1,055,474 + 324 + 92,953
    Reverse repurchase agreements 12   85,888 - 13,362 + 24,502
    Deposits (0) 1,679,522 + 13,846 + 171,785
        Term deposits held by depository institutions   0 0 0
        Other deposits held by depository institutions   1,544,629 - 21,566 + 134,161
        U.S. Treasury, General Account   87,172 + 41,752 + 15,424
        U.S. Treasury, Supplementary Financing Account   0 0 - 24,996
        Foreign official   144 + 17 + 21
        Other (0) 47,576 - 6,358 + 47,175
    Deferred availability cash items (70) 961 - 436 - 596
    Other liabilities and accrued dividends 13   18,811 - 1,116 - 821
 
Total liabilities (70) 2,840,657 - 742 + 287,824
 
Capital accounts  
    Capital paid in   27,167 - 58 + 880
    Surplus   27,167 - 58 + 880
    Other capital accounts   0 0 0
 
Total capital   54,334 - 116 + 1,761
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 21, 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 2,327 63 116 161 167 412 200 327 32 60 175 226 387
    Securities, repurchase agreements,
        and loans		 2,621,036 64,266 1,222,789 89,536 70,602 301,860 194,312 155,218 49,470 40,169 69,530 103,374 259,909
        Securities held outright 1 2,613,737 64,263 1,215,500 89,536 70,602 301,860 194,312 155,218 49,470 40,169 69,527 103,374 259,906
            U.S. Treasury securities 1,663,484 40,899 773,592 56,984 44,934 192,116 123,668 98,787 31,485 25,565 44,250 65,791 165,414
                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 1,645,062 40,446 765,024 56,353 44,437 189,988 122,298 97,693 31,136 25,282 43,759 65,062 163,582
            Federal agency debt securities 2 98,992 2,434 46,036 3,391 2,674 11,433 7,359 5,879 1,874 1,521 2,633 3,915 9,844
            Mortgage-backed securities 4 851,260 20,929 395,873 29,161 22,994 98,312 63,285 50,552 16,112 13,083 22,644 33,667 84,648
        Repurchase agreements 5 0 0 0 0 0 0 0 0 0 0 0 0 0
        Loans 7,299 3 7,289 0 0 0 0 0 0 0 4 0 3
    Net portfolio holdings of Maiden
        Lane LLC 6		 5,422 0 5,422 0 0 0 0 0 0 0 0 0 0
    Net portfolio holdings of Maiden
        Lane II LLC 7		 19 0 19 0 0 0 0 0 0 0 0 0 0
    Net portfolio holdings of Maiden
        Lane III LLC 8		 17,449 0 17,449 0 0 0 0 0 0 0 0 0 0
    Net portfolio holdings of TALF LLC 9 831 0 831 0 0 0 0 0 0 0 0 0 0
    Items in process of collection 194 5 0 52 29 3 32 12 4 9 3 11 33
    Bank premises 2,385 123 472 67 125 231 213 204 133 105 258 244 212
    Central bank liquidity swaps 10 65,593 2,299 21,159 5,689 4,849 13,568 3,751 1,750 536 268 652 1,051 10,020
    Other assets 11 163,569 4,314 72,186 6,976 5,610 21,294 11,742 8,866 2,847 2,267 3,939 5,932 17,596
    Interdistrict settlement account 0 - 4,241 + 245,229 + 8,552 - 4,047 - 131,381 - 38,359 - 10,781 - 7,086 - 13,819 - 16,025 + 1,959 - 30,002
 
Total assets 2,895,061 67,414 1,591,354 111,675 78,022 207,272 173,939 156,875 46,407 29,347 59,004 113,806 259,947
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 21, 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 1,232,399 43,851 436,985 48,289 59,852 102,753 143,916 90,392 33,360 22,821 36,436 78,934 134,811
        Less: Notes held by F.R. Banks 176,925 4,778 60,364 6,106 7,947 11,281 27,464 11,952 4,126 4,366 3,558 10,899 24,085
            Federal Reserve notes, net 1,055,474 39,072 376,621 42,183 51,905 91,472 116,452 78,440 29,234 18,455 32,878 68,035 110,726
    Reverse repurchase agreements 12 85,888 2,112 39,942 2,942 2,320 9,919 6,385 5,101 1,626 1,320 2,285 3,397 8,541
    Deposits 1,679,522 23,383 1,143,571 61,618 19,172 93,886 47,160 71,340 14,867 8,989 23,028 41,086 131,421
        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		 1,544,629 23,381 1,008,845 61,603 19,168 93,791 47,158 71,307 14,867 8,989 23,026 41,085 131,409
        U.S. Treasury, General Account 87,172 0 87,172 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 144 1 117 3 3 8 2 1 0 0 0 1 6
        Other 47,576 1 47,436 11 1 86 0 32 0 1 1 1 6
    Deferred availability cash items 1,031 36 3 106 96 19 224 25 24 175 32 56 235
    Interest on Federal Reserve notes due
        to U.S. Treasury 13		 1,806 -50 861 130 30 234 137 102 32 28 44 69 189
    Other liabilities and accrued
        dividends 14		 17,005 216 12,996 290 268 825 524 432 183 161 200 300 610
 
Total liabilities 2,840,727 64,769 1,573,994 107,269 73,792 196,356 170,882 155,439 45,967 29,128 58,467 112,942 251,721
 
Capital  
    Capital paid in 27,167 1,323 8,680 2,203 2,115 5,458 1,528 718 220 109 268 432 4,113
    Surplus 27,167 1,323 8,680 2,203 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 2,895,061 67,414 1,591,354 111,675 78,022 207,272 173,939 156,875 46,407 29,347 59,004 113,806 259,947
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 21, 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 21, 2012
Federal Reserve notes outstanding 1,232,399
    Less: Notes held by F.R. Banks not subject to collateralization 176,925
        Federal Reserve notes to be collateralized 1,055,474
Collateral held against Federal Reserve notes 1,055,474
    Gold certificate account 11,037
    Special drawing rights certificate account 5,200
    U.S. Treasury, agency debt, and mortgage-backed securities pledged 1,2 1,039,237
    Other assets pledged 0
Memo:  
Total U.S. Treasury, agency debt, and mortgage-backed securities 1,2 2,613,737
    Less: Face value of securities under reverse repurchase agreements 76,083
        U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 2,537,654
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 22, 2012