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Release Date:   August 16, 2012
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FEDERAL RESERVE statistical release

H.4.1

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

August 16, 2012
1. Factors Affecting Reserve Balances of Depository Institutions
Millions of dollars
Reserve Bank credit, related items, and
reserve balances of depository institutions at
Federal Reserve Banks		 Averages of daily figures Wednesday
Aug 15, 2012
Week ended
Aug 15, 2012		 Change from week ended
Aug 8, 2012 Aug 17, 2011
Reserve Bank credit 2,839,614 + 4,805 - 8,613 2,816,034
    Securities held outright 1 2,598,719 + 4,730 - 53,366 2,589,616
        U.S. Treasury securities 1,652,346 + 2,877 + 7,199 1,646,360
            Bills 2 0 0 - 18,423 0
            Notes and bonds, nominal 2 1,572,104 + 1,575 + 20,745 1,565,907
            Notes and bonds, inflation-indexed 2 70,242 + 1,156 + 4,294 70,435
            Inflation compensation 3 9,999 + 144 + 582 10,018
        Federal agency debt securities 2 89,376 - 1,653 - 22,298 89,101
        Mortgage-backed securities 4 856,997 + 3,507 - 38,267 854,155
    Repurchase agreements 5 86 - 175 + 86 0
    Loans 3,640 - 4 - 8,264 3,607
        Primary credit 24 + 22 + 18 16
        Secondary credit 0 0 0 0
        Seasonal credit 142 + 9 + 44 146
        Term Asset-Backed Securities Loan Facility 6 3,474 - 35 - 8,327 3,445
        Other credit extensions 0 0 0 0
    Net portfolio holdings of Maiden Lane LLC 7 2,054 - 31 - 16,133 1,868
    Net portfolio holdings of Maiden Lane II LLC 8 61 0 - 10,004 61
    Net portfolio holdings of Maiden Lane III LLC 9 5,992 - 1,390 - 15,359 1,465
    Net portfolio holdings of TALF LLC 10 848 0 + 81 848
    Float -655 + 52 + 427 -708
    Central bank liquidity swaps 11 30,005 - 17 + 29,805 30,005
    Other Federal Reserve assets 12 198,862 + 1,637 + 64,112 189,272
Gold stock 11,041 0 0 11,041
Special drawing rights certificate account 5,200 0 0 5,200
Treasury currency outstanding 13 44,620 + 14 + 605 44,620
 
Total factors supplying reserve funds 2,900,475 + 4,818 - 8,008 2,876,896
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
Aug 15, 2012
Week ended
Aug 15, 2012		 Change from week ended
Aug 8, 2012 Aug 17, 2011
Currency in circulation 13 1,116,473 + 1,177 + 83,017 1,117,570
Reverse repurchase agreements 14 91,749 - 1,349 - 8,191 90,684
    Foreign official and international accounts 91,749 - 1,349 - 8,182 90,684
    Others 0 0 - 9 0
Treasury cash holdings 128 + 4 + 15 129
Deposits with F.R. Banks, other than reserve balances 68,098 + 3,088 - 14,777 39,531
    Term deposits held by depository institutions 3,040 0 - 2,048 3,040
    U.S. Treasury, General Account 28,398 - 7,224 + 8,226 19,906
    U.S. Treasury, Supplementary Financing Account 0 0 0 0
    Foreign official 5,169 + 693 - 14 5,686
    Service-related 0 0 - 2,484 0
        Required clearing balances 0 0 - 2,484 0
        Adjustments to compensate for float 0 0 0 0
    Other 31,490 + 9,619 - 18,458 10,899
Other liabilities and capital 15 68,634 - 296 - 2,181 65,488
 
Total factors, other than reserve balances,
    absorbing reserve funds		 1,345,082 + 2,624 + 57,883 1,313,402
 
Reserve balances with Federal Reserve Banks 1,555,394 + 2,195 - 65,890 1,563,493
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
Aug 15, 2012
Week ended
Aug 15, 2012		 Change from week ended
Aug 8, 2012 Aug 17, 2011
Marketable securities held in custody for foreign
    official and international accounts 1		 3,545,921 + 9,821 + 67,298 3,552,633
    U.S. Treasury securities 2,853,331 + 8,404 + 109,050 2,859,601
    Federal agency securities 2 692,591 + 1,418 - 41,752 693,032
Securities lent to dealers 12,274 + 1,372 - 2,199 9,865
    Overnight facility 3 12,274 + 1,372 - 2,199 9,865
        U.S. Treasury securities 11,647 + 1,403 - 2,160 9,304
        Federal agency debt securities 627 - 31 - 39 561
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, August 15, 2012
Millions of dollars
Remaining maturity Within 15
days		 16 days to
90 days		 91 days to
1 year		 Over 1 year
to 5 years		 Over 5 years
to 10 years		 Over 10
years		 All
Loans 1 33 961 1,140 1,473 0 ... 3,607
U.S. Treasury securities 2  
    Holdings 0 4,383 4,813 513,596 766,034 357,533 1,646,360
    Weekly changes - 8,206 0 - 1,129 + 11,506 - 13,538 + 5,311 - 6,056
Federal agency debt securities 3  
    Holdings 1,891 5,308 16,189 57,616 5,750 2,347 89,101
    Weekly changes - 1,928 0 + 808 - 808 0 0 - 1,928
Mortgage-backed securities 4  
    Holdings 0 0 2 5 216 853,931 854,155
    Weekly changes 0 0 - 1 0 + 7 + 654 + 662
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 17,268 12,737 0 0 0 0 30,005
   
Reverse repurchase agreements 6 90,684 0 ... ... ... ... 90,684
Term deposits 3,040 0 0 ... ... ... 3,040
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
Aug 15, 2012
Mortgage-backed securities held outright 1 854,155
 
Commitments to buy mortgage-backed securities 2 39,070
Commitments to sell mortgage-backed securities 2 150
 
Cash and cash equivalents 3 48
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
Aug 15, 2012
Net portfolio holdings of Maiden Lane LLC 1 1,868
 
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
Outstanding principal amount and accrued interest on loan payable to JPMorgan Chase & Co. 3 486
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 June 30, 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
Aug 15, 2012
Net portfolio holdings of Maiden Lane II LLC 1 61
 
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 June 30, 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
Aug 15, 2012
Net portfolio holdings of Maiden Lane III LLC 1 1,465
 
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
Outstanding principal amount and accrued interest on loan payable to 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 June 30, 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
Aug 15, 2012
Asset-backed securities holdings 1 0
Other investments, net 848
Net portfolio holdings of TALF LLC 848
 
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 3 112
1. 
Fair value. Fair value reflects an estimate of the price that would be received upon selling an asset if the transaction were to be conducted in an orderly market on the measurement date.
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 $1.4 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
Aug 15, 2012		 Change since
Wednesday
Aug 8, 2012		 Wednesday
Aug 17, 2011
Assets  
    Gold certificate account   11,037 0 0
    Special drawing rights certificate account   5,200 0 0
    Coin   2,143 + 12 - 46
    Securities, repurchase agreements, and loans   2,593,223 - 7,946 - 69,542
        Securities held outright 1   2,589,616 - 7,322 - 61,246
            U.S. Treasury securities   1,646,360 - 6,056 - 1,273
                Bills 2   0 0 - 18,423
                Notes and bonds, nominal 2   1,565,907 - 7,577 + 12,055
                Notes and bonds, inflation-indexed 2   70,435 + 1,349 + 4,487
                Inflation compensation 3   10,018 + 172 + 608
            Federal agency debt securities 2   89,101 - 1,928 - 21,559
            Mortgage-backed securities 4   854,155 + 662 - 38,414
        Repurchase agreements 5   0 - 600 0
        Loans   3,607 - 24 - 8,296
    Net portfolio holdings of Maiden Lane LLC 6   1,868 - 217 - 16,306
    Net portfolio holdings of Maiden Lane II LLC 7   61 0 - 10,007
    Net portfolio holdings of Maiden Lane III LLC 8   1,465 - 5,946 - 19,850
    Net portfolio holdings of TALF LLC 9   848 0 + 81
    Items in process of collection (56) 126 + 68 - 96
    Bank premises   2,354 + 1 + 155
    Central bank liquidity swaps 10   30,005 - 17 + 29,805
    Other assets 11   186,919 - 8,861 + 59,360
 
Total assets (56) 2,835,249 - 22,907 - 26,446
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
Aug 15, 2012		 Change since
Wednesday
Aug 8, 2012		 Wednesday
Aug 17, 2011
Liabilities  
    Federal Reserve notes, net of F.R. Bank holdings   1,075,217 + 693 + 82,835
    Reverse repurchase agreements 12   90,684 - 821 - 5,227
    Deposits (0) 1,603,025 - 20,392 - 98,161
        Term deposits held by depository institutions   3,040 0 - 2,048
        Other deposits held by depository institutions   1,563,493 + 3,272 - 83,664
        U.S. Treasury, General Account   19,906 - 6,207 + 11,001
        U.S. Treasury, Supplementary Financing Account   0 0 0
        Foreign official   5,686 + 602 + 560
        Other (0) 10,899 - 18,061 - 24,011
    Deferred availability cash items (56) 834 - 62 - 510
    Other liabilities and accrued dividends 13   10,781 - 2,342 - 8,275
 
Total liabilities (56) 2,780,541 - 22,923 - 29,337
 
Capital accounts  
    Capital paid in   27,354 + 8 + 1,445
    Surplus   27,354 + 8 + 1,445
    Other capital accounts   0 0 0
 
Total capital   54,708 + 17 + 2,891
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, August 15, 2012
Millions of dollars
Assets, liabilities, and capital Total Boston New York Philadelphia Cleveland Richmond Atlanta Chicago St. Louis Minneapolis Kansas
City		 Dallas San
Francisco
Assets  
    Gold certificate account 11,037 408 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 2,143 45 88 143 149 384 202 317 36 54 164 208 354
    Securities, repurchase agreements,
        and loans		 2,593,223 62,898 1,455,324 85,607 65,839 184,307 156,148 143,676 40,523 23,613 52,038 100,630 222,619
        Securities held outright 1 2,589,616 62,897 1,451,879 85,607 65,839 184,307 156,136 143,661 40,486 23,542 52,026 100,620 222,615
            U.S. Treasury securities 1,646,360 39,987 923,039 54,425 41,858 117,174 99,264 91,333 25,739 14,967 33,076 63,970 141,528
                Bills 2 0 0 0 0 0 0 0 0 0 0 0 0 0
                Notes and bonds 3 1,646,360 39,987 923,039 54,425 41,858 117,174 99,264 91,333 25,739 14,967 33,076 63,970 141,528
            Federal agency debt securities 2 89,101 2,164 49,955 2,945 2,265 6,341 5,372 4,943 1,393 810 1,790 3,462 7,660
            Mortgage-backed securities 4 854,155 20,746 478,886 28,236 21,716 60,791 51,500 47,385 13,354 7,765 17,160 33,188 73,427
        Repurchase agreements 5 0 0 0 0 0 0 0 0 0 0 0 0 0
        Loans 3,607 1 3,445 0 0 0 12 15 37 71 12 10 4
    Net portfolio holdings of Maiden
        Lane LLC 6		 1,868 0 1,868 0 0 0 0 0 0 0 0 0 0
    Net portfolio holdings of Maiden
        Lane II LLC 7		 61 0 61 0 0 0 0 0 0 0 0 0 0
    Net portfolio holdings of Maiden
        Lane III LLC 8		 1,465 0 1,465 0 0 0 0 0 0 0 0 0 0
    Net portfolio holdings of TALF LLC 9 848 0 848 0 0 0 0 0 0 0 0 0 0
    Items in process of collection 182 2 0 48 32 6 21 10 4 5 5 8 40
    Bank premises 2,354 121 457 67 123 230 212 203 131 104 254 241 211
    Central bank liquidity swaps 10 30,005 1,052 9,679 2,603 2,218 6,207 1,716 801 245 122 298 481 4,584
    Other assets 11 186,919 4,842 98,427 7,538 5,976 16,857 11,220 9,633 2,784 1,630 3,523 6,759 17,730
    Interdistrict settlement account 0 + 7,156 - 39,668 - 13,515 + 1,246 - 22,949 + 27,373 + 1,227 + 3,396 + 1,555 - 246 - 2,204 + 36,629
 
Total assets 2,835,305 76,719 1,534,192 83,137 76,335 186,343 198,883 157,129 47,583 27,365 56,506 107,130 283,984
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, August 15, 2012 (continued)
Millions of dollars
Assets, liabilities, and capital Total Boston New York Philadelphia Cleveland Richmond Atlanta Chicago St. Louis Minneapolis Kansas
City		 Dallas San
Francisco
Liabilities  
    Federal Reserve notes outstanding 1,282,493 46,087 445,669 47,227 61,786 102,387 173,512 94,408 37,489 22,636 36,729 78,819 135,744
        Less: Notes held by F.R. Banks 207,276 5,048 78,847 5,685 8,810 12,683 27,294 13,522 4,401 3,387 3,928 18,066 25,605
            Federal Reserve notes, net 1,075,217 41,039 366,822 41,542 52,975 89,704 146,218 80,887 33,088 19,249 32,801 60,752 110,139
    Reverse repurchase agreements 12 90,684 2,203 50,842 2,998 2,306 6,454 5,468 5,031 1,418 824 1,822 3,524 7,796
    Deposits 1,603,025 30,554 1,092,180 33,881 16,493 78,536 43,435 69,119 12,417 6,780 21,107 41,565 156,957
        Term deposits held by depository
            institutions		 3,040 5 1,904 623 0 115 8 5 0 50 325 5 0
        Other deposits held by depository
            institutions		 1,563,493 30,545 1,053,995 33,244 16,490 78,278 43,420 69,088 12,416 6,730 20,781 41,557 156,950
        U.S. Treasury, General Account 19,906 0 19,906 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 5,686 1 5,659 3 3 8 2 1 0 0 0 1 6
        Other 10,899 3 10,715 10 0 136 4 25 0 0 1 3 1
    Deferred availability cash items 891 32 0 101 50 21 153 23 25 135 32 67 252
    Interest on Federal Reserve notes due
        to U.S. Treasury 13		 1,288 31 799 33 18 67 75 74 17 12 22 49 92
    Other liabilities and accrued
        dividends 14		 9,493 201 6,096 255 238 610 432 389 171 135 172 286 507
 
Total liabilities 2,780,597 74,059 1,516,739 78,810 72,081 175,393 195,781 155,522 47,135 27,136 55,956 106,243 275,743
 
Capital  
    Capital paid in 27,354 1,330 8,726 2,164 2,127 5,475 1,551 803 224 114 275 444 4,120
    Surplus 27,354 1,330 8,726 2,164 2,127 5,475 1,551 803 224 114 275 444 4,120
    Other capital 0 0 0 0 0 0 0 0 0 0 0 0 0
 
Total liabilities and capital 2,835,305 76,719 1,534,192 83,137 76,335 186,343 198,883 157,129 47,583 27,365 56,506 107,130 283,984
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, August 15, 2012 (continued)

1. 
Includes securities lent to dealers under the overnight securities lending facility; refer to table 1A.
2. 
Face value of the securities.
3. 
Includes the original face value of inflation-indexed securities and compensation that adjusts for the effect of inflation on the original face value of such securities.
4. 
Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. Current face value of the securities, which is the remaining principal balance of the underlying mortgages.
5. 
Cash value of agreements, which are collateralized by U.S. Treasury and federal agency securities.
6. 
Refer to table 4 and the note on consolidation below.
7. 
Refer to table 5 and the note on consolidation below.
8. 
Refer to table 6 and the note on consolidation below.
9. 
Refer to table 7 and the note on consolidation below.
10. 
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
Aug 15, 2012
Federal Reserve notes outstanding 1,282,493
    Less: Notes held by F.R. Banks not subject to collateralization 207,276
        Federal Reserve notes to be collateralized 1,075,217
Collateral held against Federal Reserve notes 1,075,217
    Gold certificate account 11,037
    Special drawing rights certificate account 5,200
    U.S. Treasury, agency debt, and mortgage-backed securities pledged 1,2 1,058,980
    Other assets pledged 0
Memo:  
Total U.S. Treasury, agency debt, and mortgage-backed securities 1,2 2,589,616
    Less: Face value of securities under reverse repurchase agreements 78,211
        U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 2,511,405
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: August 16, 2012