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Release Date:   September 27, 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

September 27, 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
Sep 26, 2012
Week ended
Sep 26, 2012		 Change from week ended
Sep 19, 2012 Sep 28, 2011
Reserve Bank credit 2,796,585 - 10,816 - 41,774 2,786,988
    Securities held outright 1 2,575,827 - 10,840 - 71,699 2,566,787
        U.S. Treasury securities 1,643,158 - 305 - 20,442 1,648,403
            Bills 2 0 0 - 18,423 0
            Notes and bonds, nominal 2 1,561,398 - 274 - 7,400 1,566,654
            Notes and bonds, inflation-indexed 2 71,784 0 + 4,959 71,784
            Inflation compensation 3 9,977 - 31 + 424 9,965
        Federal agency debt securities 2 84,770 - 2,392 - 23,498 83,405
        Mortgage-backed securities 4 847,899 - 8,143 - 27,760 834,979
    Repurchase agreements 5 0 0 0 0
    Loans 1,728 - 85 - 9,723 1,732
        Primary credit 43 + 30 + 14 95
        Secondary credit 0 0 0 0
        Seasonal credit 127 + 6 + 38 124
        Term Asset-Backed Securities Loan Facility 6 1,558 - 121 - 9,775 1,513
        Other credit extensions 0 0 0 0
    Net portfolio holdings of Maiden Lane LLC 7 1,736 - 156 - 13,748 1,720
    Net portfolio holdings of Maiden Lane II LLC 8 61 0 - 9,908 61
    Net portfolio holdings of Maiden Lane III LLC 9 466 - 1,119 - 20,699 25
    Net portfolio holdings of TALF LLC 10 853 + 2 + 68 853
    Float -593 + 69 + 361 -640
    Central bank liquidity swaps 11 14,693 - 49 + 14,193 14,693
    Other Federal Reserve assets 12 201,814 + 1,362 + 69,382 201,758
Gold stock 11,041 0 0 11,041
Special drawing rights certificate account 5,200 0 0 5,200
Treasury currency outstanding 13 44,685 + 14 + 608 44,685
 
Total factors supplying reserve funds 2,857,511 - 10,802 - 41,166 2,847,914
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
Sep 26, 2012
Week ended
Sep 26, 2012		 Change from week ended
Sep 19, 2012 Sep 28, 2011
Currency in circulation 13 1,126,066 + 948 + 90,340 1,128,192
Reverse repurchase agreements 14 91,231 - 3,859 + 7,352 89,536
    Foreign official and international accounts 91,231 - 2,574 + 7,352 89,536
    Others 0 - 1,286 0 0
Treasury cash holdings 111 + 3 - 3 122
Deposits with F.R. Banks, other than reserve balances 147,065 + 21,384 + 16,361 92,925
    Term deposits held by depository institutions 3,040 0 - 2,037 3,040
    U.S. Treasury, General Account 73,239 + 8,523 + 17,521 65,665
    U.S. Treasury, Supplementary Financing Account 0 0 0 0
    Foreign official 5,561 + 1 + 5,059 5,560
    Service-related 0 0 - 2,515 0
        Required clearing balances 0 0 - 2,515 0
        Adjustments to compensate for float 0 0 0 0
    Other 65,225 + 12,860 - 1,667 18,660
Other liabilities and capital 15 68,148 - 852 - 3,212 66,604
 
Total factors, other than reserve balances,
    absorbing reserve funds		 1,432,621 + 17,623 + 110,837 1,377,378
 
Reserve balances with Federal Reserve Banks 1,424,890 - 28,425 - 152,003 1,470,536
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
Sep 26, 2012
Week ended
Sep 26, 2012		 Change from week ended
Sep 19, 2012 Sep 28, 2011
Marketable securities held in custody for foreign
    official and international accounts 1		 3,593,186 + 8,958 + 157,168 3,593,925
    U.S. Treasury securities 2,891,243 + 4,068 + 186,419 2,890,272
    Federal agency securities 2 701,943 + 4,890 - 29,251 703,653
Securities lent to dealers 8,150 + 1,607 - 3,195 9,208
    Overnight facility 3 8,150 + 1,607 - 3,195 9,208
        U.S. Treasury securities 7,555 + 1,762 - 3,040 8,631
        Federal agency debt securities 595 - 154 - 155 577
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, September 26, 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 1 212 172 363 986 0 ... 1,732
U.S. Treasury securities 2  
    Holdings 825 103 992 464,564 804,516 377,403 1,648,403
    Weekly changes 0 0 0 - 7,803 + 4,729 + 5,379 + 2,305
Federal agency debt securities 3  
    Holdings 659 5,963 13,131 56,895 4,410 2,347 83,405
    Weekly changes - 3,034 + 1,841 - 2,500 0 0 0 - 3,693
Mortgage-backed securities 4  
    Holdings 0 0 3 3 294 834,679 834,979
    Weekly changes 0 0 0 0 - 5 - 15,157 - 15,163
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 6,517 8,175 0 0 0 0 14,693
   
Reverse repurchase agreements 6 89,536 0 ... ... ... ... 89,536
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
Sep 26, 2012
Mortgage-backed securities held outright 1 834,979
 
Commitments to buy mortgage-backed securities 2 74,415
Commitments to sell mortgage-backed securities 2 3,200
 
Cash and cash equivalents 3 89
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
Sep 26, 2012
Net portfolio holdings of Maiden Lane LLC 1 1,720
 
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. 3 308
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
Sep 26, 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
Sep 26, 2012
Net portfolio holdings of Maiden Lane III LLC 1 25
 
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
Sep 26, 2012
Asset-backed securities holdings 1 0
Other investments, net 853
Net portfolio holdings of TALF LLC 853
 
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
Sep 26, 2012		 Change since
Wednesday
Sep 19, 2012		 Wednesday
Sep 28, 2011
Assets  
    Gold certificate account   11,037 0 0
    Special drawing rights certificate account   5,200 0 0
    Coin   2,183 + 6 - 61
    Securities, repurchase agreements, and loans   2,568,519 - 16,643 - 86,749
        Securities held outright 1   2,566,787 - 16,551 - 77,019
            U.S. Treasury securities   1,648,403 + 2,305 - 16,252
                Bills 2   0 0 - 18,423
                Notes and bonds, nominal 2   1,566,654 + 2,336 - 2,675
                Notes and bonds, inflation-indexed 2   71,784 0 + 4,530
                Inflation compensation 3   9,965 - 31 + 316
            Federal agency debt securities 2   83,405 - 3,693 - 24,863
            Mortgage-backed securities 4   834,979 - 15,163 - 35,904
        Repurchase agreements 5   0 0 0
        Loans   1,732 - 91 - 9,730
    Net portfolio holdings of Maiden Lane LLC 6   1,720 - 19 - 13,786
    Net portfolio holdings of Maiden Lane II LLC 7   61 0 - 9,938
    Net portfolio holdings of Maiden Lane III LLC 8   25 - 1,560 - 21,145
    Net portfolio holdings of TALF LLC 9   853 + 2 + 68
    Items in process of collection (110) 138 + 1 - 142
    Bank premises   2,350 - 1 + 165
    Central bank liquidity swaps 10   14,693 - 49 + 14,193
    Other assets 11   199,408 + 1,101 + 69,350
 
Total assets (110) 2,806,187 - 17,161 - 48,046
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
Sep 26, 2012		 Change since
Wednesday
Sep 19, 2012		 Wednesday
Sep 28, 2011
Liabilities  
    Federal Reserve notes, net of F.R. Bank holdings   1,085,808 + 2,501 + 89,488
    Reverse repurchase agreements 12   89,536 - 4,433 + 6,721
    Deposits (0) 1,563,461 - 14,948 - 139,655
        Term deposits held by depository institutions   3,040 0 - 2,037
        Other deposits held by depository institutions   1,470,536 + 49,901 - 138,460
        U.S. Treasury, General Account   65,665 - 10,011 + 20,723
        U.S. Treasury, Supplementary Financing Account   0 0 0
        Foreign official   5,560 0 + 5,335
        Other (0) 18,660 - 54,838 - 25,216
    Deferred availability cash items (110) 779 - 54 - 524
    Other liabilities and accrued dividends 13   11,885 - 102 - 6,784
 
Total liabilities (110) 2,751,469 - 17,036 - 50,755
 
Capital accounts  
    Capital paid in   27,359 - 63 + 1,355
    Surplus   27,359 - 63 + 1,355
    Other capital accounts   0 0 0
 
Total capital   54,718 - 125 + 2,710
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, September 26, 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 2,183 49 102 147 149 387 208 319 36 53 164 209 360
    Securities, repurchase agreements,
        and loans		 2,568,519 62,342 1,440,621 84,852 65,259 182,732 154,775 142,408 40,137 23,399 51,585 99,756 220,653
        Securities held outright 1 2,566,787 62,342 1,439,080 84,852 65,259 182,682 154,760 142,394 40,129 23,334 51,568 99,733 220,652
            U.S. Treasury securities 1,648,403 40,037 924,185 54,493 41,910 117,319 99,387 91,446 25,771 14,985 33,117 64,049 141,704
                Bills 2 0 0 0 0 0 0 0 0 0 0 0 0 0
                Notes and bonds 3 1,648,403 40,037 924,185 54,493 41,910 117,319 99,387 91,446 25,771 14,985 33,117 64,049 141,704
            Federal agency debt securities 2 83,405 2,026 46,761 2,757 2,121 5,936 5,029 4,627 1,304 758 1,676 3,241 7,170
            Mortgage-backed securities 4 834,979 20,280 468,134 27,603 21,229 59,427 50,343 46,321 13,054 7,591 16,775 32,443 71,779
        Repurchase agreements 5 0 0 0 0 0 0 0 0 0 0 0 0 0
        Loans 1,732 0 1,541 0 0 50 15 14 7 64 17 23 1
    Net portfolio holdings of Maiden
        Lane LLC 6		 1,720 0 1,720 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		 25 0 25 0 0 0 0 0 0 0 0 0 0
    Net portfolio holdings of TALF LLC 9 853 0 853 0 0 0 0 0 0 0 0 0 0
    Items in process of collection 248 2 0 49 37 5 102 8 4 10 2 5 24
    Bank premises 2,350 121 455 68 122 229 213 203 130 104 254 240 211
    Central bank liquidity swaps 10 14,693 515 4,739 1,274 1,086 3,039 840 392 120 60 146 235 2,245
    Other assets 11 199,408 5,150 105,247 8,017 6,331 17,829 11,976 10,309 2,956 1,731 3,764 7,240 18,858
    Interdistrict settlement account 0 + 2,107 - 15,655 - 13,022 + 757 - 38,841 + 29,945 + 515 + 1,321 + 1,553 - 3,153 - 2,224 + 36,697
 
Total assets 2,806,297 70,890 1,543,812 82,033 74,493 166,682 200,049 155,417 45,166 27,191 53,230 106,470 280,863
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, September 26, 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 1,306,531 45,615 457,517 47,670 61,143 101,697 176,826 94,440 37,286 22,509 36,229 84,842 140,757
        Less: Notes held by F.R. Banks 220,723 5,271 85,025 6,068 8,628 12,891 27,815 13,966 4,424 3,497 4,159 22,426 26,553
            Federal Reserve notes, net 1,085,808 40,344 372,492 41,602 52,515 88,805 149,011 80,474 32,862 19,013 32,070 62,415 114,204
    Reverse repurchase agreements 12 89,536 2,175 50,199 2,960 2,276 6,372 5,398 4,967 1,400 814 1,799 3,479 7,697
    Deposits 1,563,461 25,454 1,095,801 32,820 15,116 59,612 41,854 67,940 10,246 6,821 18,587 39,310 149,900
        Term deposits held by depository
            institutions		 3,040 5 2,596 0 0 10 55 5 0 65 299 5 0
        Other deposits held by depository
            institutions		 1,470,536 25,440 1,003,487 32,810 15,113 59,510 41,790 67,908 10,245 6,756 18,287 39,297 149,892
        U.S. Treasury, General Account 65,665 0 65,665 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 5,560 1 5,533 3 3 8 2 1 0 0 0 1 6
        Other 18,660 7 18,520 7 0 83 7 26 1 0 1 7 1
    Deferred availability cash items 888 28 0 86 52 21 199 23 22 168 28 58 203
    Interest on Federal Reserve notes due
        to U.S. Treasury 13		 1,417 26 803 96 27 76 81 83 21 12 29 56 106
    Other liabilities and accrued
        dividends 14		 10,469 206 7,057 264 252 626 431 379 166 135 165 278 511
 
Total liabilities 2,751,579 68,232 1,526,351 77,828 70,239 155,512 196,974 153,866 44,717 26,963 52,679 105,597 272,621
 
Capital  
    Capital paid in 27,359 1,329 8,730 2,103 2,127 5,585 1,537 775 225 114 276 437 4,121
    Surplus 27,359 1,329 8,730 2,103 2,127 5,585 1,537 775 225 114 276 437 4,121
    Other capital 0 0 0 0 0 0 0 0 0 0 0 0 0
 
Total liabilities and capital 2,806,297 70,890 1,543,812 82,033 74,493 166,682 200,049 155,417 45,166 27,191 53,230 106,470 280,863
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, September 26, 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
Sep 26, 2012
Federal Reserve notes outstanding 1,306,531
    Less: Notes held by F.R. Banks not subject to collateralization 220,723
        Federal Reserve notes to be collateralized 1,085,808
Collateral held against Federal Reserve notes 1,085,808
    Gold certificate account 11,037
    Special drawing rights certificate account 5,200
    U.S. Treasury, agency debt, and mortgage-backed securities pledged 1,2 1,069,571
    Other assets pledged 0
Memo:  
Total U.S. Treasury, agency debt, and mortgage-backed securities 1,2 2,566,787
    Less: Face value of securities under reverse repurchase agreements 76,442
        U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 2,490,345
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: September 27, 2012