FRB: H.4.1 Release-- Factors Affecting Reserve Balances -- Thursday, January 30, 2014

FEDERAL RESERVE statistical release

For Release at

4:30 P.M. EDT

June 12, 2014

Table 10 line items "Less: Face value of securities under reverse repurchase agreements" and "U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged" have been corrected to include securities pledged as collateral for tri-party reverse repurchase agreements.

The revised data are reported at the following link: http://www.federalreserve.gov/releases/h41/2014update.htm.

Historical data incorporating this correction can be accessed through the Data Download Program (DDP) at http://www.federalreserve.gov/datadownload/Choose.aspx?rel=H41.

FEDERAL RESERVE statistical release

For release at

4:30 P.M. EST

January 30, 2014

The weekly average values, shown in table 1, reflect the December 31, 2013, quarterly updates to the fair values of the net portfolio holdings of Maiden Lane LLC and the fair value adjustment of the Term Asset-Backed Securities Loan Facility, or TALF, which is included in "Other Federal Reserve assets." The amounts for the first six days of this reporting week are based on the values as of September 30, 2013, and the amounts for the last day of the reporting week are based on the values as of December 31, 2013.

FEDERAL RESERVE statistical release

H.4.1

Factors Affecting Reserve Balances of Depository Institutions and Condition Statement of Federal Reserve Banks	January 30, 2014

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 Jan 29, 2014
	Week ended Jan 29, 2014	Change from week ended
	Week ended Jan 29, 2014	Jan 22, 2014	Jan 30, 2013
Reserve Bank credit	4,058,606	+ 13,490	+1,096,039	4,059,312
Securities held outright¹	3,828,903	+ 12,951	+1,082,048	3,830,311
U.S. Treasury securities	2,237,617	+ 9,571	+ 534,118	2,243,176
Bills²	0	0	0	0
Notes and bonds, nominal²	2,131,637	+ 9,617	+ 514,951	2,137,215
Notes and bonds, inflation-indexed²	92,615	0	+ 16,485	92,615
Inflation compensation³	13,364	- 46	+ 2,681	13,346
Federal agency debt securities²	54,911	0	- 20,200	54,911
Mortgage-backed securities⁴	1,536,375	+ 3,380	+ 568,130	1,532,224
Unamortized premiums on securities held outright⁵	208,985	- 74	+ 31,754	208,782
Unamortized discounts on securities held outright⁵	-13,839	- 511	- 12,199	-14,086
Repurchase agreements⁶	0	0	0	0
Loans	131	+ 11	- 424	127
Primary credit	17	+ 11	+ 12	13
Secondary credit	0	0	0	0
Seasonal credit	18	+ 1	+ 15	18
Term Asset-Backed Securities Loan Facility⁷	96	- 1	- 451	96
Other credit extensions	0	0	0	0
Net portfolio holdings of Maiden Lane LLC⁸	1,550	+ 7	+ 135	1,579
Net portfolio holdings of Maiden Lane II LLC⁹	63	0	+ 2	63
Net portfolio holdings of Maiden Lane III LLC¹⁰	22	0	0	22
Net portfolio holdings of TALF LLC¹¹	108	+ 1	- 749	108
Float	-506	+ 66	- 2,744	-464
Central bank liquidity swaps¹²	261	+ 1	- 7,769	261
Other Federal Reserve assets¹³	32,929	+ 1,039	+ 5,985	32,610
Foreign currency denominated assets¹⁴	23,939	+ 275	- 855	23,961
Gold stock	11,041	0	0	11,041
Special drawing rights certificate account	5,200	0	0	5,200
Treasury currency outstanding¹⁵	45,595	+ 14	+ 764	45,595

Total factors supplying reserve funds	4,144,381	+ 13,779	+1,095,948	4,145,109

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 Jan 29, 2014
	Week ended Jan 29, 2014	Change from week ended
	Week ended Jan 29, 2014	Jan 22, 2014	Jan 30, 2013
Currency in circulation¹⁵	1,224,845	- 1,423	+ 70,023	1,226,462
Reverse repurchase agreements¹⁶	183,860	- 428	+ 90,941	195,428
Foreign official and international accounts	101,447	- 6,267	+ 8,528	101,152
Others	82,413	+ 5,838	+ 82,413	94,276
Treasury cash holdings	261	+ 6	+ 77	260
Deposits with F.R. Banks, other than reserve balances	152,719	+ 19,442	+ 48,877	134,529
Term deposits held by depository institutions	12,822	0	+ 9,786	12,822
U.S. Treasury, General Account	89,337	+ 11,539	+ 18,210	95,632
Foreign official	8,050	0	+ 618	8,062
Other	42,510	+ 7,904	+ 20,264	18,013
Other liabilities and capital¹⁷	63,499	- 124	- 436	62,656

Total factors, other than reserve balances, absorbing reserve funds	1,625,183	+ 17,471	+ 209,481	1,619,336

Reserve balances with Federal Reserve Banks	2,519,198	- 3,692	+ 886,466	2,525,773

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. The current face value shown is the remaining principal balance of the securities.
5.	Reflects the premium or discount, which is the difference between the purchase price and the face value of the securities that has not been amortized. For U.S. Treasury and Federal agency debt securities, amortization is on a straight-line basis. For mortgage-backed securities, amortization is on an effective-interest basis.
6.	Cash value of agreements.
7.	Includes credit extended by the Federal Reserve Bank of New York to eligible borrowers through the Term Asset-Backed Securities Loan Facility.
8.	Refer to table 4 and the note on consolidation accompanying table 9.
9.	Refer to table 5 and the note on consolidation accompanying table 9.
10.	Refer to table 6 and the note on consolidation accompanying table 9.
11.	Refer to table 7 and the note on consolidation accompanying table 9.
12.	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.
13.	Includes accrued interest, which represents the daily accumulation of interest earned, and other accounts receivable. Also, includes Reserve Bank premises and equipment net of allowances for depreciation.
14.	Revalued daily at current foreign currency exchange rates.
15.	Estimated.
16.	Cash value of agreements, which are collateralized by U.S. Treasury securities, federal agency debt securities, and mortgage-backed securities.
17.	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 Jan 29, 2014
	Week ended Jan 29, 2014	Change from week ended
	Week ended Jan 29, 2014	Jan 22, 2014	Jan 30, 2013
Securities held in custody for foreign official and international accounts	3,334,528	- 10,151	+ 79,637	3,324,824
Marketable U.S. Treasury securities¹	2,982,885	- 11,264	+ 70,726	2,973,468
Federal agency debt and mortgage-backed securities²	307,365	+ 846	+ 1,426	306,816
Other securities³	44,278	+ 268	+ 7,484	44,540
Securities lent to dealers	11,574	+ 349	- 5,052	10,588
Overnight facility⁴	11,574	+ 349	- 5,052	10,588
U.S. Treasury securities	10,457	+ 187	- 5,484	9,469
Federal agency debt securities	1,117	+ 161	+ 432	1,119

Note: Components may not sum to totals because of rounding.

1.	Includes securities and U.S. Treasury STRIPS at face value, and inflation compensation on TIPS. Does not include securities pledged as collateral to foreign official and international account holders against reverse repurchase agreements with the Federal Reserve presented in tables 1, 8, and 9.
2.	Face value of federal agency securities and current face value of mortgage-backed securities, which is the remaining principal balance of the securities.
3.	Includes non-marketable U.S. Treasury securities, supranationals, corporate bonds, asset-backed securities, and commercial paper at face value.
4.	Face value. Fully collateralized by U.S. Treasury securities.

2. Maturity Distribution of Securities, Loans, and Selected Other Assets and Liabilities, January 29, 2014

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 year to 10 years	Over 10 years	All
Loans¹	31	0	64	33	0	...	127
U.S. Treasury securities²
Holdings	1	298	176	767,709	883,213	591,779	2,243,176
Weekly changes	0	0	0	- 7	+ 9,089	+ 2,664	+ 11,746
Federal agency debt securities³
Holdings	3,500	6,446	7,377	35,179	62	2,347	54,911
Weekly changes	0	+ 1,629	- 1,629	0	0	0	0
Mortgage-backed securities⁴
Holdings	0	0	0	5	2,675	1,529,543	1,532,224
Weekly changes	0	0	0	0	- 41	- 7,203	- 7,243
Asset-backed securities held by TALF LLC⁵	0	0	0	0	0	0	0
Repurchase agreements⁶	0	0	...	...	...	...	0
Central bank liquidity swaps⁷	133	128	0	0	0	0	261

Reverse repurchase agreements⁶	195,428	0	...	...	...	...	195,428
Term deposits	12,822	0	0	...	...	...	12,822

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. The current face value shown is the remaining principal balance of the securities.
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
Account name	Jan 29, 2014
Mortgage-backed securities held outright¹	1,532,224

Commitments to buy mortgage-backed securities²	52,268
Commitments to sell mortgage-backed securities²	29

Cash and cash equivalents³	16

1.	Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. The current face value shown is the remaining principal balance of the securities.
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
Account name	Jan 29, 2014
Net portfolio holdings of Maiden Lane LLC¹	1,579

Outstanding principal amount of loan extended by the Federal Reserve Bank of New York²	0
Accrued interest payable to the Federal Reserve Bank of New York²	0
Outstanding principal amount and accrued interest on loan payable to JPMorgan Chase & Co.³	0

1.	Fair value. Fair value reflects an estimate of the price that would be received upon selling an asset if the transaction were to be conducted in an orderly market on the measurement date. Revalued quarterly. This table reflects valuations as of December 31, 2013. 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
Account name	Jan 29, 2014
Net portfolio holdings of Maiden Lane II LLC¹	63

Outstanding principal amount of loan extended by the Federal Reserve Bank of New York²	0
Accrued interest payable to the Federal Reserve Bank of New York²	0
Deferred payment and accrued interest payable to subsidiaries of American International Group, Inc.³	0

1.	Fair value. Fair value reflects an estimate of the price that would be received upon selling an asset if the transaction were to be conducted in an orderly market on the measurement date. Revalued quarterly. This table reflects valuations as of December 31, 2013. 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
Account name	Jan 29, 2014
Net portfolio holdings of Maiden Lane III LLC¹	22

Outstanding principal amount of loan extended by the Federal Reserve Bank of New York²	0
Accrued interest payable to the Federal Reserve Bank of New York²	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 December 31, 2013. 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
Account name	Jan 29, 2014
Asset-backed securities holdings¹	0
Other investments, net	108
Net portfolio holdings of TALF LLC	108

Outstanding principal amount of loan extended by the Federal Reserve Bank of New York²	0
Accrued interest payable to the Federal Reserve Bank of New York²	0
Funding provided by U.S. Treasury to TALF LLC, including accrued interest payable³	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.
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) extended loans with a term of up to five years to holders of eligible asset-backed securities. The Federal Reserve closed the TALF for new loan extensions in 2010. 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.

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. Prior to January 15, 2013, the U.S. Treasury's Troubled Asset Relief Program (TARP) committed backup funding to TALF LLC, providing credit protection to the FRBNY. However, the accumulated fees and income collected through the TALF and held by TALF LLC now exceed the remaining amount of TALF loans outstanding. Accordingly, the TARP credit protection commitment has been terminated, and TALF LLC has begun to distribute excess proceeds to the Treasury and the FRBNY. 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 Jan 29, 2014	Change since
			Wednesday	Wednesday
			Jan 22, 2014	Jan 30, 2013
Assets
Gold certificate account		11,037	0	0
Special drawing rights certificate account		5,200	0	0
Coin		2,019	+ 19	- 177
Securities, unamortized premiums and discounts, repurchase agreements, and loans		4,025,133	+ 3,500	+1,097,717
Securities held outright¹		3,830,311	+ 4,503	+1,079,359
U.S. Treasury securities		2,243,176	+ 11,746	+ 533,118
Bills²		0	0	0
Notes and bonds, nominal²		2,137,215	+ 11,795	+ 513,936
Notes and bonds, inflation-indexed²		92,615	0	+ 16,485
Inflation compensation³		13,346	- 49	+ 2,697
Federal agency debt securities²		54,911	0	- 20,200
Mortgage-backed securities⁴		1,532,224	- 7,243	+ 566,440
Unamortized premiums on securities held outright⁵		208,782	- 443	+ 31,231
Unamortized discounts on securities held outright⁵		-14,086	- 565	- 12,420
Repurchase agreements⁶		0	0	0
Loans		127	+ 6	- 452
Net portfolio holdings of Maiden Lane LLC⁷		1,579	+ 33	+ 179
Net portfolio holdings of Maiden Lane II LLC⁸		63	0	+ 2
Net portfolio holdings of Maiden Lane III LLC⁹		22	0	0
Net portfolio holdings of TALF LLC¹⁰		108	0	- 749
Items in process of collection	(0)	144	- 56	+ 27
Bank premises		2,286	0	- 49
Central bank liquidity swaps¹¹		261	+ 1	- 7,769
Foreign currency denominated assets¹²		23,961	+ 318	- 912
Other assets¹³		30,326	+ 409	+ 5,166

Total assets	(0)	4,102,138	+ 4,224	+1,093,434

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 Jan 29, 2014	Change since
			Wednesday	Wednesday
			Jan 22, 2014	Jan 30, 2013
Liabilities
Federal Reserve notes, net of F.R. Bank holdings		1,183,141	+ 469	+ 69,282
Reverse repurchase agreements¹⁴		195,428	- 6,526	+ 96,996
Deposits	(0)	2,660,304	+ 10,906	+ 927,741
Term deposits held by depository institutions		12,822	0	+ 9,786
Other deposits held by depository institutions		2,525,775	+ 31,044	+ 880,781
U.S. Treasury, General Account		95,632	- 1,092	+ 24,327
Foreign official		8,062	+ 2	+ 629
Other	(0)	18,013	- 19,048	+ 12,219
Deferred availability cash items	(0)	609	- 515	- 201
Other liabilities and accrued dividends¹⁵		7,623	- 111	- 629

Total liabilities	(0)	4,047,106	+ 4,223	+1,093,190

Capital accounts
Capital paid in		27,516	+ 1	+ 122
Surplus		27,516	+ 1	+ 122
Other capital accounts		0	0	0

Total capital		55,033	+ 2	+ 245

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. The current face value shown is the remaining principal balance of the securities.
5.	Reflects the premium or discount, which is the difference between the purchase price and the face value of the securities that has not been amortized. For U.S. Treasury and Federal agency debt securities, amortization is on a straight-line basis. For mortgage-backed securities, amortization is on an effective-interest basis.
6.	Cash value of agreements, which are collateralized by U.S. Treasury and federal agency securities.
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.	Revalued daily at current foreign currency exchange rates.
13.	Includes accrued interest, which represents the daily accumulation of interest earned, and other accounts receivable.
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.

9. Statement of Condition of Each Federal Reserve Bank, January 29, 2014

Millions of dollars

Assets, liabilities, and capital	Total	Boston	New York	Philadelphia	Cleveland	Richmond	Atlanta	Chicago	St. Louis	Minneapolis	Kansas	Dallas	San
Assets, liabilities, and capital	Total	Boston	New York	Philadelphia	Cleveland	Richmond	Atlanta	Chicago	St. Louis	Minneapolis	City	Dallas	Francisco
Assets
Gold certificate account	11,037	391	3,925	397	512	856	1,421	792	310	190	309	728	1,206
Special drawing rights certificate acct.	5,200	196	1,818	210	237	412	654	424	150	90	153	282	574
Coin	2,019	36	89	126	132	345	240	289	22	52	157	191	340
Securities, unamortized premiums and discounts, repurchase agreements, and loans	4,025,133	105,254	2,232,127	116,622	102,795	250,278	267,380	217,500	64,764	38,207	76,154	156,301	397,751
Securities held outright¹	3,830,311	100,159	2,124,064	110,980	97,822	238,172	254,442	206,976	61,631	36,347	72,465	148,740	378,511
U.S. Treasury securities	2,243,176	58,657	1,243,933	64,994	57,288	139,483	149,011	121,213	36,093	21,286	42,438	87,108	221,671
Bills²	0	0	0	0	0	0	0	0	0	0	0	0	0
Notes and bonds³	2,243,176	58,657	1,243,933	64,994	57,288	139,483	149,011	121,213	36,093	21,286	42,438	87,108	221,671
Federal agency debt securities²	54,911	1,436	30,450	1,591	1,402	3,414	3,648	2,967	884	521	1,039	2,132	5,426
Mortgage-backed securities⁴	1,532,224	40,066	849,681	44,395	39,131	95,275	101,784	82,796	24,654	14,540	28,988	59,500	151,414
Unamortized premiums on securities held outright⁵	208,782	5,459	115,778	6,049	5,332	12,982	13,869	11,282	3,359	1,981	3,950	8,108	20,632
Unamortized discounts on securities held outright⁵	-14,086	-368	-7,811	-408	-360	-876	-936	-761	-227	-134	-266	-547	-1,392
Repurchase agreements⁶	0	0	0	0	0	0	0	0	0	0	0	0	0
Loans	127	4	96	0	0	0	4	3	1	13	5	0	0
Net portfolio holdings of Maiden
Lane LLC⁷	1,579	0	1,579	0	0	0	0	0	0	0	0	0	0
Net portfolio holdings of Maiden
Lane II LLC⁸	63	0	63	0	0	0	0	0	0	0	0	0	0
Net portfolio holdings of Maiden
Lane III LLC⁹	22	0	22	0	0	0	0	0	0	0	0	0	0
Net portfolio holdings of TALF LLC¹⁰	108	0	108	0	0	0	0	0	0	0	0	0	0
Items in process of collection	144	0	0	0	0	0	144	0	0	0	0	0	0
Bank premises	2,286	124	431	72	110	227	211	202	127	99	247	231	204
Central bank liquidity swaps¹¹	261	13	83	20	20	55	15	7	2	1	3	4	37
Foreign currency denominated assets¹²	23,961	1,177	7,661	1,853	1,869	5,031	1,365	683	200	100	242	380	3,398
Other assets¹³	30,326	834	16,322	886	786	2,059	2,023	1,627	551	352	595	1,315	2,975
Interdistrict settlement account	0	- 28,807	+ 343,295	- 19,658	- 22,374	- 42,908	- 68,804	- 73,478	- 22,090	- 17,593	- 29,264	- 44,608	+ 26,288

Total assets	4,102,138	79,218	2,607,523	100,529	84,087	216,356	204,649	148,048	44,035	21,500	48,595	114,824	432,774

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, January 29, 2014 (continued)

Millions of dollars

Assets, liabilities, and capital	Total	Boston	New York	Philadelphia	Cleveland	Richmond	Atlanta	Chicago	St. Louis	Minneapolis	Kansas	Dallas	San
Assets, liabilities, and capital	Total	Boston	New York	Philadelphia	Cleveland	Richmond	Atlanta	Chicago	St. Louis	Minneapolis	City	Dallas	Francisco
Liabilities
Federal Reserve notes outstanding	1,386,486	44,675	508,556	41,556	59,424	103,613	167,500	87,918	34,560	20,973	36,456	119,700	161,556
Less: Notes held by F.R. Banks	203,345	6,011	36,692	5,766	6,417	9,356	18,788	14,122	3,798	8,598	10,526	53,778	29,494
Federal Reserve notes, net	1,183,141	38,664	471,864	35,790	53,007	94,257	148,711	73,795	30,762	12,375	25,931	65,922	132,062
Reverse repurchase agreements¹⁴	195,428	5,110	108,373	5,662	4,991	12,152	12,982	10,560	3,144	1,854	3,697	7,589	19,312
Deposits	2,660,304	32,727	2,005,366	54,691	21,471	97,827	38,838	61,813	9,505	6,794	18,225	40,142	272,905
Term deposits held by depository institutions	12,822	0	9,801	0	0	20	480	1,356	30	85	90	105	855
Other deposits held by depository institutions	2,525,775	32,725	1,873,975	54,668	21,468	97,755	38,346	60,448	9,475	6,708	18,133	40,031	272,043
U.S. Treasury, General Account	95,632	0	95,632	0	0	0	0	0	0	0	0	0	0
Foreign official	8,062	2	8,035	3	3	8	2	1	0	0	0	1	6
Other	18,013	1	17,923	20	0	43	10	9	0	0	1	6	1
Deferred availability cash items	609	0	0	0	0	0	491	0	0	118	0	0	0
Interest on Federal Reserve notes due to U.S. Treasury¹⁵	1,981	61	1,018	74	69	170	137	93	31	15	23	76	213
Other liabilities and accrued dividends¹⁶	5,642	153	3,212	175	174	477	324	266	122	110	133	179	317

Total liabilities	4,047,106	76,716	2,589,833	96,392	79,712	204,883	201,484	146,528	43,565	21,266	48,009	113,908	424,809

Capital
Capital paid in	27,516	1,251	8,845	2,068	2,188	5,737	1,582	760	235	117	293	458	3,982
Surplus	27,516	1,251	8,845	2,068	2,188	5,737	1,582	760	235	117	293	458	3,982
Other capital	0	0	0	0	0	0	0	0	0	0	0	0	0

Total liabilities and capital	4,102,138	79,218	2,607,523	100,529	84,087	216,356	204,649	148,048	44,035	21,500	48,595	114,824	432,774

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, January 29, 2014 (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. The current face value shown is the remaining principal balance of the securities.
5.	Reflects the premium or discount, which is the difference between the purchase price and the face value of the securities that has not been amortized. For U.S. Treasury and Federal agency debt securities, amortization is on a straight-line basis. For mortgage-backed securities, amortization is on an effective-interest basis.
6.	Cash value of agreements, which are collateralized by U.S. Treasury and federal agency securities.
7.	Refer to table 4 and the note on consolidation below.
8.	Refer to table 5 and the note on consolidation below.
9.	Refer to table 6 and the note on consolidation below.
10.	Refer to table 7 and the note on consolidation below.
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.	Revalued daily at current foreign currency exchange rates.
13.	Includes accrued interest, which represents the daily accumulation of interest earned, and other accounts receivable.
14.	Cash value of agreements, which are collateralized by U.S. Treasury securities, federal agency debt securities, and mortgage-backed securities.
15.	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.
16.	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
Federal Reserve notes and collateral	Jan 29, 2014
Federal Reserve notes outstanding	1,386,486
Less: Notes held by F.R. Banks not subject to collateralization	203,345
Federal Reserve notes to be collateralized	1,183,141
Collateral held against Federal Reserve notes	1,183,141
Gold certificate account	11,037
Special drawing rights certificate account	5,200
U.S. Treasury, agency debt, and mortgage-backed securities pledged^1,2	1,166,904
Other assets pledged	0
Memo:
Total U.S. Treasury, agency debt, and mortgage-backed securities^1,2	3,830,311
Less: Face value of securities under reverse repurchase agreements	189,836
U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged	3,640,474

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.

Statistical releases