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

The weekly average values, shown in table 1, reflect the March 31, 2012, quarterly updates to the fair
values of the net portfolio holdings of Maiden Lane LLC, Maiden Lane II LLC, and Maiden Lane
III LLC, and the fair value adjustment of the Term Asset-Backed Securities Loan Facility, or TALF,
which is included in "Other Federal Reserve assets." The amounts for the first six days of this
reporting week are based on the values as of December 31, 2011, and the amounts for the last day of
the reporting week are based on the values as of March 31, 2012.


FEDERAL RESERVE statistical release

H.4.1

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

April 26, 2012
1. Factors Affecting Reserve Balances of Depository Institutions
Millions of dollars
Reserve Bank credit, related items, and
reserve balances of depository institutions at
Federal Reserve Banks		 Averages of daily figures Wednesday
Apr 25, 2012
Week ended
Apr 25, 2012		 Change from week ended
Apr 18, 2012 Apr 27, 2011
Reserve Bank credit 2,860,435 - 5,495 + 188,601 2,849,380
    Securities held outright 1 2,622,690 - 7,647 + 157,761 2,610,134
        U.S. Treasury securities 1,667,044 - 7,958 + 260,490 1,667,766
            Bills 2 18,423 0 0 18,423
            Notes and bonds, nominal 2 1,572,232 - 7,065 + 249,077 1,572,925
            Notes and bonds, inflation-indexed 2 67,236 - 867 + 9,171 67,236
            Inflation compensation 3 9,154 - 25 + 2,242 9,183
        Federal agency debt securities 2 94,661 - 722 - 33,149 94,571
        Mortgage-backed securities 4 860,985 + 1,033 - 69,580 847,796
    Repurchase agreements 5 0 0 0 0
    Loans 6,626 - 335 - 10,581 6,575
        Primary credit 8 + 2 - 1 11
        Secondary credit 0 0 0 0
        Seasonal credit 11 + 3 - 1 12
        Term Asset-Backed Securities Loan Facility 6 6,608 - 339 - 10,578 6,553
        Other credit extensions 0 0 0 0
    Net portfolio holdings of Maiden Lane LLC 7 4,058 - 177 - 20,318 4,170
    Net portfolio holdings of Maiden Lane II LLC 8 19 0 - 15,949 19
    Net portfolio holdings of Maiden Lane III LLC 9 17,655 + 324 - 5,602 19,805
    Net portfolio holdings of TALF LLC 10 835 + 4 + 102 836
    Float -606 + 243 + 356 -804
    Central bank liquidity swaps 11 31,971 - 400 + 31,971 31,971
    Other Federal Reserve assets 12 177,186 + 2,492 + 50,862 176,674
Gold stock 11,041 0 0 11,041
Special drawing rights certificate account 5,200 0 0 5,200
Treasury currency outstanding 13 44,401 + 14 + 552 44,401
 
Total factors supplying reserve funds 2,921,077 - 5,481 + 189,153 2,910,023
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
Apr 25, 2012
Week ended
Apr 25, 2012		 Change from week ended
Apr 18, 2012 Apr 27, 2011
Currency in circulation 13 1,099,273 - 887 + 88,031 1,100,340
Reverse repurchase agreements 14 89,365 - 1,476 + 32,554 92,447
    Foreign official and international accounts 89,365 - 1,476 + 32,554 92,447
    Others 0 0 0 0
Treasury cash holdings 141 + 2 - 47 140
Deposits with F.R. Banks, other than reserve balances 117,961 + 22,061 - 494 116,639
    Term deposits held by depository institutions 0 - 3,057 - 5,081 0
    U.S. Treasury, General Account 78,498 + 25,071 - 25,654 102,592
    U.S. Treasury, Supplementary Financing Account 0 0 - 5,000 0
    Foreign official 130 - 33 - 7 128
    Service-related 1,929 - 1 - 617 1,929
        Required clearing balances 1,929 - 1 - 617 1,929
        Adjustments to compensate for float 0 0 0 0
    Other 37,404 + 81 + 35,865 11,990
Other liabilities and capital 15 74,997 - 1,345 + 1,269 76,086
 
Total factors, other than reserve balances,
    absorbing reserve funds		 1,381,737 + 18,355 + 121,314 1,385,652
 
Reserve balances with Federal Reserve Banks 1,539,340 - 23,836 + 67,839 1,524,371
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
Apr 25, 2012
Week ended
Apr 25, 2012		 Change from week ended
Apr 18, 2012 Apr 27, 2011
Marketable securities held in custody for foreign
    official and international accounts 1		 3,482,371 - 8,986 + 46,722 3,489,459
    U.S. Treasury securities 2,765,981 - 4,443 + 90,796 2,772,244
    Federal agency securities 2 716,390 - 4,543 - 44,074 717,215
Securities lent to dealers 13,557 - 645 + 3,454 13,949
    Overnight facility 3 13,557 - 645 + 3,454 13,949
        U.S. Treasury securities 12,797 - 588 + 3,491 13,291
        Federal agency debt securities 759 - 58 - 38 658
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, April 25, 2012
Millions of dollars
Remaining maturity Within 15
days		 16 days to
90 days		 91 days to
1 year		 Over 1 year
to 5 years		 Over 5 years
to 10 years		 Over 10
years		 All
Loans 1 20 711 3,849 1,995 0 ... 6,575
U.S. Treasury securities 2  
    Holdings 15,227 16,654 49,600 549,453 739,042 297,790 1,667,766
    Weekly changes - 2,504 + 2,504 0 - 17,249 + 9,327 + 3,547 - 4,375
Federal agency debt securities 3  
    Holdings 0 3,542 18,976 60,224 9,482 2,347 94,571
    Weekly changes - 629 0 0 0 0 0 - 629
Mortgage-backed securities 4  
    Holdings 0 0 2 8 99 847,687 847,796
    Weekly changes 0 0 0 - 1 - 2 - 7,562 - 7,565
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 11,046 20,925 0 0 0 0 31,971
   
Reverse repurchase agreements 6 92,447 0 ... ... ... ... 92,447
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
Apr 25, 2012
Mortgage-backed securities held outright 1 847,796
 
Commitments to buy mortgage-backed securities 2 32,073
Commitments to sell mortgage-backed securities 2 0
 
Cash and cash equivalents 3 71
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
Apr 25, 2012
Net portfolio holdings of Maiden Lane LLC 1 4,170
 
Outstanding principal amount of loan extended by the Federal Reserve Bank of New York 2 707
Accrued interest payable to the Federal Reserve Bank of New York 2 764
Outstanding principal amount and accrued interest on loan payable to JPMorgan Chase & Co. 3 1,408
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 March 31, 2012. 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
Apr 25, 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 March 31, 2012. 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
Apr 25, 2012
Net portfolio holdings of Maiden Lane III LLC 1 19,805
 
Outstanding principal amount of loan extended by the Federal Reserve Bank of New York 2 7,972
Accrued interest payable to the Federal Reserve Bank of New York 2 729
Outstanding principal amount and accrued interest on loan payable to American International Group, Inc. 3 5,599
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 March 31, 2012. 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
Apr 25, 2012
Asset-backed securities holdings 1 0
Other investments, net 836
Net portfolio holdings of TALF LLC 836
 
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 3 111
1. 
Fair value. Fair value reflects an estimate of the price that would be received upon selling an asset if the transaction were to be conducted in an orderly market on the measurement date.
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
Apr 25, 2012		 Change since
Wednesday
Apr 18, 2012		 Wednesday
Apr 27, 2011
Assets  
    Gold certificate account   11,037 0 0
    Special drawing rights certificate account   5,200 0 0
    Coin   2,233 - 8 + 16
    Securities, repurchase agreements, and loans   2,616,709 - 12,942 + 133,237
        Securities held outright 1   2,610,134 - 12,568 + 143,460
            U.S. Treasury securities   1,667,766 - 4,375 + 254,299
                Bills 2   18,423 0 0
                Notes and bonds, nominal 2   1,572,925 - 4,453 + 242,885
                Notes and bonds, inflation-indexed 2   67,236 0 + 9,171
                Inflation compensation 3   9,183 + 79 + 2,243
            Federal agency debt securities 2   94,571 - 629 - 31,615
            Mortgage-backed securities 4   847,796 - 7,565 - 79,225
        Repurchase agreements 5   0 0 0
        Loans   6,575 - 374 - 10,223
    Net portfolio holdings of Maiden Lane LLC 6   4,170 + 131 - 20,593
    Net portfolio holdings of Maiden Lane II LLC 7   19 0 - 16,522
    Net portfolio holdings of Maiden Lane III LLC 8   19,805 + 2,508 - 4,758
    Net portfolio holdings of TALF LLC 9   836 + 5 + 103
    Items in process of collection (113) 214 - 63 + 76
    Bank premises   2,353 - 1 + 136
    Central bank liquidity swaps 10   31,971 - 400 + 31,971
    Other assets 11   174,341 + 1,822 + 50,077
 
Total assets (113) 2,868,889 - 8,946 + 173,745
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
Apr 25, 2012		 Change since
Wednesday
Apr 18, 2012		 Wednesday
Apr 27, 2011
Liabilities  
    Federal Reserve notes, net of F.R. Bank holdings   1,058,308 - 242 + 85,956
    Reverse repurchase agreements 12   92,447 + 1,079 + 35,416
    Deposits (0) 1,641,029 - 12,246 + 51,950
        Term deposits held by depository institutions   0 - 3,057 - 5,081
        Other deposits held by depository institutions   1,526,319 + 11,019 + 74,131
        U.S. Treasury, General Account   102,592 - 501 - 23,593
        U.S. Treasury, Supplementary Financing Account   0 0 - 5,000
        Foreign official   128 + 1 - 64
        Other (0) 11,990 - 19,708 + 11,557
    Deferred availability cash items (113) 1,018 - 127 - 591
    Other liabilities and accrued dividends 13   21,624 + 2,586 - 879
 
Total liabilities (113) 2,814,426 - 8,950 + 171,853
 
Capital accounts  
    Capital paid in   27,231 + 2 + 946
    Surplus   27,231 + 2 + 946
    Other capital accounts   0 0 0
 
Total capital   54,463 + 4 + 1,892
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, April 25, 2012
Millions of dollars
Assets, liabilities, and capital Total Boston New York Philadelphia Cleveland Richmond Atlanta Chicago St. Louis Minneapolis Kansas
City		 Dallas San
Francisco
Assets  
    Gold certificate account 11,037 408 3,824 437 515 890 1,337 839 313 192 315 725 1,242
    Special drawing rights certificate acct. 5,200 196 1,818 210 237 412 654 424 150 90 153 282 574
    Coin 2,233 52 108 155 157 399 201 324 35 59 167 209 368
    Securities, repurchase agreements,
        and loans		 2,616,709 63,397 1,469,936 86,285 66,361 185,767 157,379 144,805 40,808 23,730 52,440 101,420 224,379
        Securities held outright 1 2,610,134 63,395 1,463,383 86,285 66,361 185,767 157,373 144,799 40,807 23,729 52,439 101,417 224,379
            U.S. Treasury securities 1,667,766 40,507 935,041 55,133 42,402 118,697 100,555 92,520 26,074 15,162 33,506 64,801 143,369
                Bills 2 18,423 447 10,329 609 468 1,311 1,111 1,022 288 167 370 716 1,584
                Notes and bonds 3 1,649,344 40,059 924,712 54,524 41,934 117,386 99,444 91,498 25,786 14,994 33,136 64,086 141,785
            Federal agency debt securities 2 94,571 2,297 53,022 3,126 2,404 6,731 5,702 5,246 1,479 860 1,900 3,675 8,130
            Mortgage-backed securities 4 847,796 20,591 475,321 28,026 21,555 60,339 51,116 47,032 13,254 7,707 17,033 32,941 72,880
        Repurchase agreements 5 0 0 0 0 0 0 0 0 0 0 0 0 0
        Loans 6,575 2 6,553 0 0 0 6 6 2 2 1 3 0
    Net portfolio holdings of Maiden
        Lane LLC 6		 4,170 0 4,170 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		 19,805 0 19,805 0 0 0 0 0 0 0 0 0 0
    Net portfolio holdings of TALF LLC 9 836 0 836 0 0 0 0 0 0 0 0 0 0
    Items in process of collection 327 11 0 85 68 5 53 13 4 6 3 16 62
    Bank premises 2,353 122 446 66 124 230 212 203 133 105 257 243 212
    Central bank liquidity swaps 10 31,971 1,121 10,313 2,773 2,364 6,613 1,828 853 261 130 318 512 4,884
    Other assets 11 174,341 4,542 91,234 7,154 5,685 16,025 10,471 8,923 2,573 1,510 3,262 6,271 16,693
    Interdistrict settlement account 0 + 3,477 - 316 + 10,421 + 285 - 8,721 + 726 - 516 + 2,210 + 1,745 + 261 + 1,680 - 11,251
 
Total assets 2,869,002 73,326 1,602,193 107,588 75,795 201,619 172,860 155,868 46,488 27,567 57,176 111,359 237,163
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, April 25, 2012 (continued)
Millions of dollars
Assets, liabilities, and capital Total Boston New York Philadelphia Cleveland Richmond Atlanta Chicago St. Louis Minneapolis Kansas
City		 Dallas San
Francisco
Liabilities  
    Federal Reserve notes outstanding 1,242,501 47,254 434,101 47,924 60,447 102,147 146,942 94,780 35,412 22,903 37,508 78,226 134,858
        Less: Notes held by F.R. Banks 184,194 4,655 66,331 5,736 7,858 11,880 26,970 12,605 4,343 4,234 4,043 11,497 24,042
            Federal Reserve notes, net 1,058,308 42,598 367,770 42,187 52,589 90,267 119,972 82,175 31,070 18,669 33,465 66,729 110,815
    Reverse repurchase agreements 12 92,447 2,245 51,831 3,056 2,350 6,580 5,574 5,129 1,445 840 1,857 3,592 7,947
    Deposits 1,641,029 25,531 1,148,087 57,440 16,149 93,014 43,532 66,485 13,270 7,496 21,069 39,748 109,208
        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		 1,526,319 25,516 1,033,641 57,432 16,145 92,828 43,530 66,452 13,269 7,495 21,067 39,747 109,197
        U.S. Treasury, General Account 102,592 0 102,592 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 128 1 101 3 3 8 2 1 0 0 0 1 6
        Other 11,990 14 11,753 5 1 177 0 32 0 1 1 1 6
    Deferred availability cash items 1,131 40 0 138 156 22 152 27 70 185 30 68 244
    Interest on Federal Reserve notes due
        to U.S. Treasury 13		 3,664 44 2,858 64 50 141 106 102 21 13 37 69 158
    Other liabilities and accrued
        dividends 14		 17,959 222 14,290 288 269 680 468 407 171 136 174 292 563
 
Total liabilities 2,814,539 70,682 1,584,836 103,173 71,564 190,704 169,803 154,326 46,047 27,340 56,631 110,497 228,936
 
Capital  
    Capital paid in 27,231 1,322 8,679 2,207 2,116 5,458 1,529 771 221 114 272 431 4,114
    Surplus 27,231 1,322 8,679 2,207 2,116 5,458 1,529 771 221 114 272 431 4,114
    Other capital 0 0 0 0 0 0 0 0 0 0 0 0 0
 
Total liabilities and capital 2,869,002 73,326 1,602,193 107,588 75,795 201,619 172,860 155,868 46,488 27,567 57,176 111,359 237,163
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, April 25, 2012 (continued)

1. 
Includes securities lent to dealers under the overnight securities lending facility; refer to table 1A.
2. 
Face value of the securities.
3. 
Includes the original face value of inflation-indexed securities and compensation that adjusts for the effect of inflation on the original face value of such securities.
4. 
Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. Current face value of the securities, which is the remaining principal balance of the underlying mortgages.
5. 
Cash value of agreements, which are collateralized by U.S. Treasury and federal agency securities.
6. 
Refer to table 4 and the note on consolidation below.
7. 
Refer to table 5 and the note on consolidation below.
8. 
Refer to table 6 and the note on consolidation below.
9. 
Refer to table 7 and the note on consolidation below.
10. 
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
Apr 25, 2012
Federal Reserve notes outstanding 1,242,501
    Less: Notes held by F.R. Banks not subject to collateralization 184,194
        Federal Reserve notes to be collateralized 1,058,308
Collateral held against Federal Reserve notes 1,058,308
    Gold certificate account 11,037
    Special drawing rights certificate account 5,200
    U.S. Treasury, agency debt, and mortgage-backed securities pledged 1,2 1,042,071
    Other assets pledged 0
Memo:  
Total U.S. Treasury, agency debt, and mortgage-backed securities 1,2 2,610,134
    Less: Face value of securities under reverse repurchase agreements 79,246
        U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 2,530,888
Note: Components may not sum to totals because of rounding.


1. 
Includes face value of U.S. Treasury, agency debt, and mortgage-backed securities held outright, compensation to adjust for the effect of inflation on the original face value of inflation-indexed securities, and cash value of repurchase agreements.
2. 
Includes securities lent to dealers under the overnight securities lending facility; refer to table 1A.

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Last update: April 26, 2012