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Release Date:   October 25, 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

October 25, 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
Oct 24, 2012
Week ended
Oct 24, 2012		 Change from week ended
Oct 17, 2012 Oct 26, 2011
Reserve Bank credit 2,829,091 + 9,116 - 3,725 2,823,432
    Securities held outright 1 2,603,247 + 8,028 - 33,497 2,597,339
        U.S. Treasury securities 1,652,282 + 2,157 - 18,625 1,646,524
            Bills 2 0 0 - 18,423 0
            Notes and bonds, nominal 2 1,569,377 + 2,401 - 5,783 1,564,312
            Notes and bonds, inflation-indexed 2 72,566 - 289 + 4,970 71,944
            Inflation compensation 3 10,339 + 45 + 610 10,269
        Federal agency debt securities 2 82,746 0 - 24,922 82,746
        Mortgage-backed securities 4 868,219 + 5,870 + 10,050 868,069
    Repurchase agreements 5 0 0 0 0
    Loans 1,409 - 87 - 9,687 1,312
        Primary credit 4 - 8 0 4
        Secondary credit 0 0 0 0
        Seasonal credit 48 - 13 + 10 46
        Term Asset-Backed Securities Loan Facility 6 1,357 - 66 - 9,696 1,262
        Other credit extensions 0 0 0 0
    Net portfolio holdings of Maiden Lane LLC 7 1,555 - 152 - 11,538 1,559
    Net portfolio holdings of Maiden Lane II LLC 8 61 0 - 9,742 61
    Net portfolio holdings of Maiden Lane III LLC 9 23 0 - 20,393 23
    Net portfolio holdings of TALF LLC 10 854 + 1 + 61 855
    Float -560 + 162 + 456 -577
    Central bank liquidity swaps 11 12,177 - 700 + 10,324 12,177
    Other Federal Reserve assets 12 210,325 + 1,864 + 70,290 210,683
Gold stock 11,041 0 0 11,041
Special drawing rights certificate account 5,200 0 0 5,200
Treasury currency outstanding 13 44,741 + 14 + 623 44,741
 
Total factors supplying reserve funds 2,890,073 + 9,130 - 3,103 2,884,414
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
Oct 24, 2012
Week ended
Oct 24, 2012		 Change from week ended
Oct 17, 2012 Oct 26, 2011
Currency in circulation 13 1,134,395 - 1,243 + 92,549 1,135,281
Reverse repurchase agreements 14 94,436 - 2,780 + 14,040 91,709
    Foreign official and international accounts 94,436 - 2,780 + 14,040 91,709
    Others 0 0 0 0
Treasury cash holdings 135 + 3 - 7 142
Deposits with F.R. Banks, other than reserve balances 115,751 + 20,913 - 15,644 157,449
    Term deposits held by depository institutions 0 0 0 0
    U.S. Treasury, General Account 62,738 + 4,265 - 1,631 52,847
    U.S. Treasury, Supplementary Financing Account 0 0 0 0
    Foreign official 4,983 - 588 + 4,854 4,862
    Service-related 0 0 - 2,509 0
        Required clearing balances 0 0 - 2,509 0
        Adjustments to compensate for float 0 0 0 0
    Other 48,030 + 17,236 - 16,358 99,739
Other liabilities and capital 15 68,005 - 2,019 - 3,076 66,591
 
Total factors, other than reserve balances,
    absorbing reserve funds		 1,412,723 + 14,875 + 87,864 1,451,172
 
Reserve balances with Federal Reserve Banks 1,477,350 - 5,745 - 90,967 1,433,241
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
Oct 24, 2012
Week ended
Oct 24, 2012		 Change from week ended
Oct 17, 2012 Oct 26, 2011
Marketable securities held in custody for foreign
    official and international accounts 1		 3,609,200 + 5,902 + 211,946 3,601,053
    U.S. Treasury securities 2,912,439 + 6,619 + 237,311 2,904,259
    Federal agency securities 2 696,761 - 718 - 25,365 696,794
Securities lent to dealers 7,884 + 1,421 - 4,836 6,477
    Overnight facility 3 7,884 + 1,421 - 4,836 6,477
        U.S. Treasury securities 7,260 + 1,314 - 4,486 5,910
        Federal agency debt securities 624 + 107 - 350 567
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, October 24, 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 59 334 112 807 0 ... 1,312
U.S. Treasury securities 2  
    Holdings 1 484 17 429,960 823,944 392,119 1,646,524
    Weekly changes 0 0 0 - 16,434 + 26 + 3,849 - 12,560
Federal agency debt securities 3  
    Holdings 844 6,791 16,031 52,323 4,410 2,347 82,746
    Weekly changes 0 + 107 + 978 - 1,085 0 0 0
Mortgage-backed securities 4  
    Holdings 0 0 4 2 1,472 866,592 868,069
    Weekly changes 0 0 0 0 + 8 + 5,757 + 5,765
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 7,351 4,825 0 0 0 0 12,177
   
Reverse repurchase agreements 6 91,709 0 ... ... ... ... 91,709
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
Oct 24, 2012
Mortgage-backed securities held outright 1 868,069
 
Commitments to buy mortgage-backed securities 2 92,145
Commitments to sell mortgage-backed securities 2 0
 
Cash and cash equivalents 3 0
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
Oct 24, 2012
Net portfolio holdings of Maiden Lane LLC 1 1,559
 
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. 3 133
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
Oct 24, 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
Oct 24, 2012
Net portfolio holdings of Maiden Lane III LLC 1 23
 
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
Oct 24, 2012
Asset-backed securities holdings 1 0
Other investments, net 855
Net portfolio holdings of TALF LLC 855
 
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
Oct 24, 2012		 Change since
Wednesday
Oct 17, 2012		 Wednesday
Oct 26, 2011
Assets  
    Gold certificate account   11,037 0 0
    Special drawing rights certificate account   5,200 0 0
    Coin   2,167 - 5 - 179
    Securities, repurchase agreements, and loans   2,598,652 - 6,957 - 47,292
        Securities held outright 1   2,597,339 - 6,795 - 37,602
            U.S. Treasury securities   1,646,524 - 12,560 - 31,488
                Bills 2   0 0 - 18,423
                Notes and bonds, nominal 2   1,564,312 - 11,384 - 17,935
                Notes and bonds, inflation-indexed 2   71,944 - 1,090 + 4,348
                Inflation compensation 3   10,269 - 85 + 522
            Federal agency debt securities 2   82,746 0 - 24,922
            Mortgage-backed securities 4   868,069 + 5,765 + 18,808
        Repurchase agreements 5   0 0 0
        Loans   1,312 - 163 - 9,692
    Net portfolio holdings of Maiden Lane LLC 6   1,559 + 5 - 11,370
    Net portfolio holdings of Maiden Lane II LLC 7   61 0 - 9,411
    Net portfolio holdings of Maiden Lane III LLC 8   23 0 - 17,992
    Net portfolio holdings of TALF LLC 9   855 + 2 + 61
    Items in process of collection (89) 203 + 64 - 126
    Bank premises   2,350 + 3 + 164
    Central bank liquidity swaps 10   12,177 - 700 + 10,324
    Other assets 11   208,333 + 1,623 + 70,063
 
Total assets (89) 2,842,615 - 5,967 - 5,760
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
Oct 24, 2012		 Change since
Wednesday
Oct 17, 2012		 Wednesday
Oct 26, 2011
Liabilities  
    Federal Reserve notes, net of F.R. Bank holdings   1,092,845 - 996 + 91,271
    Reverse repurchase agreements 12   91,709 - 9,598 + 10,393
    Deposits (0) 1,590,690 + 5,141 - 106,311
        Term deposits held by depository institutions   0 0 0
        Other deposits held by depository institutions   1,433,241 - 73,008 - 154,801
        U.S. Treasury, General Account   52,847 - 15,753 - 2,340
        U.S. Treasury, Supplementary Financing Account   0 0 0
        Foreign official   4,862 - 699 + 4,730
        Other (0) 99,739 + 94,600 + 46,099
    Deferred availability cash items (89) 780 - 61 - 337
    Other liabilities and accrued dividends 13   11,842 - 463 - 3,469
 
Total liabilities (89) 2,787,866 - 5,977 - 8,453
 
Capital accounts  
    Capital paid in   27,374 + 5 + 1,346
    Surplus   27,374 + 5 + 1,346
    Other capital accounts   0 0 0
 
Total capital   54,748 + 10 + 2,691
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, October 24, 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 2,167 51 109 149 147 383 204 314 35 51 163 205 357
    Securities, repurchase agreements,
        and loans		 2,598,652 63,084 1,457,472 85,862 66,036 184,856 156,613 144,091 40,607 23,631 52,187 100,929 223,283
        Securities held outright 1 2,597,339 63,084 1,456,210 85,862 66,036 184,856 156,602 144,089 40,607 23,612 52,182 100,920 223,279
            U.S. Treasury securities 1,646,524 39,991 923,131 54,431 41,862 117,185 99,274 91,342 25,742 14,968 33,079 63,976 141,543
                Bills 2 0 0 0 0 0 0 0 0 0 0 0 0 0
                Notes and bonds 3 1,646,524 39,991 923,131 54,431 41,862 117,185 99,274 91,342 25,742 14,968 33,079 63,976 141,543
            Federal agency debt securities 2 82,746 2,010 46,392 2,735 2,104 5,889 4,989 4,590 1,294 752 1,662 3,215 7,113
            Mortgage-backed securities 4 868,069 21,084 486,687 28,696 22,070 61,782 52,339 48,157 13,571 7,892 17,440 33,729 74,623
        Repurchase agreements 5 0 0 0 0 0 0 0 0 0 0 0 0 0
        Loans 1,312 0 1,262 0 0 0 11 2 1 19 5 8 4
    Net portfolio holdings of Maiden
        Lane LLC 6		 1,559 0 1,559 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		 23 0 23 0 0 0 0 0 0 0 0 0 0
    Net portfolio holdings of TALF LLC 9 855 0 855 0 0 0 0 0 0 0 0 0 0
    Items in process of collection 291 1 0 40 23 4 189 5 3 3 2 4 18
    Bank premises 2,350 121 455 69 122 229 214 203 130 104 254 240 210
    Central bank liquidity swaps 10 12,177 427 3,928 1,056 900 2,519 696 325 100 50 121 195 1,860
    Other assets 11 208,333 5,366 110,286 8,273 6,549 18,448 12,514 10,808 3,105 1,818 3,946 7,613 19,608
    Interdistrict settlement account 0 + 5,776 - 12,148 - 13,674 - 287 - 38,226 + 27,692 - 13,363 + 848 + 2,619 - 4,368 + 827 + 44,305
 
Total assets 2,842,703 75,430 1,568,240 82,422 74,242 169,515 200,113 143,646 45,290 28,557 52,773 111,019 291,456
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, October 24, 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 1,319,271 46,929 460,938 47,659 60,919 101,689 177,720 94,335 37,534 22,538 36,092 89,926 142,992
        Less: Notes held by F.R. Banks 226,426 5,609 85,794 5,832 8,738 12,864 28,171 13,784 4,694 3,428 5,070 25,018 27,424
            Federal Reserve notes, net 1,092,845 41,320 375,144 41,827 52,180 88,825 149,548 80,551 32,840 19,110 31,023 64,909 115,569
    Reverse repurchase agreements 12 91,709 2,227 51,417 3,032 2,332 6,527 5,529 5,088 1,434 834 1,842 3,563 7,884
    Deposits 1,590,690 28,883 1,117,459 32,905 15,093 62,094 41,103 55,829 10,316 8,011 19,084 41,174 158,739
        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		 1,433,241 28,877 960,250 32,896 15,090 61,917 41,092 55,808 10,316 8,011 19,082 41,171 158,732
        U.S. Treasury, General Account 52,847 0 52,847 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 4,862 1 4,835 3 3 8 2 1 0 0 0 1 6
        Other 99,739 4 99,527 6 0 169 8 21 0 0 1 3 1
    Deferred availability cash items 868 27 0 78 43 17 186 19 21 200 26 62 189
    Interest on Federal Reserve notes due
        to U.S. Treasury 13		 2,007 47 1,231 43 31 88 115 123 32 19 46 84 148
    Other liabilities and accrued
        dividends 14		 9,836 254 5,530 331 308 798 544 486 196 154 200 350 686
 
Total liabilities 2,787,955 72,757 1,550,781 78,216 69,987 158,349 197,025 142,095 44,838 28,328 52,221 110,143 283,215
 
Capital  
    Capital paid in 27,374 1,336 8,730 2,103 2,127 5,583 1,544 775 226 115 276 438 4,121
    Surplus 27,374 1,336 8,730 2,103 2,127 5,583 1,544 775 226 115 276 438 4,121
    Other capital 0 0 0 0 0 0 0 0 0 0 0 0 0
 
Total liabilities and capital 2,842,703 75,430 1,568,240 82,422 74,242 169,515 200,113 143,646 45,290 28,557 52,773 111,019 291,456
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, October 24, 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
Oct 24, 2012
Federal Reserve notes outstanding 1,319,271
    Less: Notes held by F.R. Banks not subject to collateralization 226,426
        Federal Reserve notes to be collateralized 1,092,845
Collateral held against Federal Reserve notes 1,092,845
    Gold certificate account 11,037
    Special drawing rights certificate account 5,200
    U.S. Treasury, agency debt, and mortgage-backed securities pledged 1,2 1,076,608
    Other assets pledged 0
Memo:  
Total U.S. Treasury, agency debt, and mortgage-backed securities 1,2 2,597,339
    Less: Face value of securities under reverse repurchase agreements 78,603
        U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 2,518,736
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: October 25, 2012