FRB: H.4.1 Release--Factors Affecting Reserve Balances--September 25, 2014

FEDERAL RESERVE statistical release

H.4.1

Factors Affecting Reserve Balances of Depository Institutions and
Condition Statement of Federal Reserve Banks September 25, 2014

1. Factors Affecting Reserve Balances of Depository Institutions
Millions of dollars
Reserve Bank credit, related items, and Averages of daily figures Wednesday
reserve balances of depository institutions at Week ended Change from week ended Sep 24, 2014
Federal Reserve Banks Sep 24, 2014 Sep 17, 2014 Sep 25, 2013

Reserve Bank credit 4,417,733 + 10,118 + 722,718 4,417,726
Securities held outright (1) 4,195,219 + 8,673 + 724,835 4,194,913
U.S. Treasury securities 2,447,066 + 3,368 + 390,282 2,448,625
Bills (2) 0 0 0 0
Notes and bonds, nominal (2) 2,332,304 + 3,379 + 376,056 2,333,867
Notes and bonds, inflation-indexed (2) 98,188 0 + 10,979 98,188
Inflation compensation (3) 16,574 - 10 + 3,247 16,570
Federal agency debt securities (2) 40,006 - 1,111 - 23,646 40,006
Mortgage-backed securities (4) 1,708,147 + 6,416 + 358,198 1,706,282
Unamortized premiums on securities held outright (5) 209,901 + 158 + 5,598 209,711
Unamortized discounts on securities held outright (5) -18,685 - 42 - 11,999 -18,705
Repurchase agreements (6) 0 0 0 0
Loans 330 + 28 + 58 331
Primary credit 35 + 32 + 15 31
Secondary credit 0 0 0 0
Seasonal credit 263 - 2 + 112 268
Term Asset-Backed Securities Loan Facility (7) 32 - 2 - 69 32
Other credit extensions 0 0 0 0
Net portfolio holdings of Maiden Lane LLC (8) 1,664 0 + 168 1,664
Net portfolio holdings of Maiden Lane II LLC (9) 0 - 36 - 64 0
Net portfolio holdings of Maiden Lane III LLC (9) 0 - 12 - 22 0
Net portfolio holdings of TALF LLC (10) 44 0 - 68 44
Float -494 + 122 + 78 -574
Central bank liquidity swaps (11) 23 - 52 - 240 23
Other Federal Reserve assets (12) 29,731 + 1,280 + 4,374 30,320
Foreign currency denominated assets (13) 22,560 - 259 - 1,500 22,500
Gold stock 11,041 0 0 11,041
Special drawing rights certificate account 5,200 0 0 5,200
Treasury currency outstanding (14) 46,131 + 14 + 814 46,131

Total factors supplying reserve funds 4,502,665 + 9,873 + 722,032 4,502,598

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 Averages of daily figures Wednesday
reserve balances of depository institutions at Week ended Change from week ended Sep 24, 2014
Federal Reserve Banks Sep 24, 2014 Sep 17, 2014 Sep 25, 2013

Currency in circulation (14) 1,288,293 - 1,051 + 83,795 1,289,158
Reverse repurchase agreements (15) 270,542 + 19,731 + 170,808 261,724
Foreign official and international accounts 100,289 - 90 + 4,949 99,407
Others 170,254 + 19,823 + 165,859 162,317
Treasury cash holdings 164 0 + 10 159
Deposits with F.R. Banks, other than reserve balances 147,430 + 57,841 + 15,063 181,770
Term deposits held by depository institutions 0 0 - 11,662 0
U.S. Treasury, General Account 114,828 + 48,411 + 69,837 118,905
Foreign official 5,244 - 2 - 3,633 5,243
Other (16) 27,359 + 9,433 - 39,478 57,623
Other liabilities and capital (17) 63,656 - 1,232 - 1,621 62,601

Total factors, other than reserve balances,
absorbing reserve funds 1,770,085 + 75,289 + 268,055 1,795,413

Reserve balances with Federal Reserve Banks 2,732,580 - 65,416 + 453,977 2,707,185

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 7.
9. 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. Refer to the
note on consolidation accompanying table 7.
10. Refer to table 5 and the note on consolidation accompanying table 7.
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 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.
13. Revalued daily at current foreign currency exchange rates.
14. Estimated.
15. Cash value of agreements, which are collateralized by U.S. Treasury securities, federal agency debt
securities, and mortgage-backed securities.
16. Includes deposits held at the Reserve Banks by international and multilateral organizations,
government-sponsored enterprises, and designated financial market utilities.
17. Includes the liabilities of TALF LLC to entities other than the Federal Reserve Bank of New York,
including liabilities that have recourse only to the portfolio holdings of this LLC. Refer to table 5
and the note on consolidation accompanying table 7. Also includes the liability for interest on
Federal Reserve notes due to U.S. Treasury. Refer to table 6 and table 7.

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
Week ended Change from week ended Sep 24, 2014
Sep 24, 2014 Sep 17, 2014 Sep 25, 2013

Securities held in custody for foreign official and
international accounts 3,359,602 + 12,461 + 70,529 3,352,365
Marketable U.S. Treasury securities (1) 3,023,574 + 1,686 + 92,566 3,017,608
Federal agency debt and mortgage-backed securities (2) 293,094 + 10,401 - 27,010 291,797
Other securities (3) 42,934 + 375 + 4,972 42,960
Securities lent to dealers 13,101 + 2,856 - 9,517 12,668
Overnight facility (4) 13,101 + 2,856 - 9,517 12,668
U.S. Treasury securities 12,318 + 2,800 - 9,503 11,926
Federal agency debt securities 783 + 55 - 14 742

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, 6, and 7.
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, September 24, 2014

Millions of dollars
Remaining Maturity Within 15 16 days to 91 days to Over 1 year Over 5 year Over 10 All
days 90 days 1 year to 5 years to 10 years years

Loans 296 35 0 0 0 ... 331
U.S. Treasury securities (1)
Holdings 1 89 3,194 1,038,753 746,893 659,695 2,448,625
Weekly changes 0 0 0 + 1,593 + 179 + 281 + 2,053
Federal agency debt securities (2)
Holdings 0 1,329 3,584 32,746 0 2,347 40,006
Weekly changes 0 0 0 0 0 0 0
Mortgage-backed securities (3)
Holdings 0 0 0 10 4,797 1,701,475 1,706,282
Weekly changes 0 0 0 0 + 24 + 5,761 + 5,785
Asset-backed securities held by
TALF LLC (4) 0 0 0 0 0 0 0
Repurchase agreements (5) 0 0 ... ... ... ... 0
Central bank liquidity swaps (6) 23 0 0 0 0 0 23

Reverse repurchase agreements (5) 261,724 0 ... ... ... ... 261,724
Term deposits 0 0 0 ... ... ... 0

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

1. 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.
2. Face value.
3. Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. The current face value shown is the
remaining principal balance of the securities.
4. Face value of asset-backed securities held by TALF LLC, which is the remaining principal balance of
the underlying assets.
5. Cash value of agreements.
6. 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 24, 2014

Mortgage-backed securities held outright (1) 1,706,282

Commitments to buy mortgage-backed securities (2) 58,194
Commitments to sell mortgage-backed securities (2) 0

Cash and cash equivalents (3) 69

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 6
and table 7.

4. Information on Principal Accounts of Maiden Lane LLC
Millions of dollars
Account name Wednesday
Sep 24, 2014

Net portfolio holdings of Maiden Lane LLC (1) 1,664

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) 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, 2014. 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 7.
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 6 and table 7.

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. The remaining outstanding balances of the senior
loan from FRBNY to Maiden Lane LLC, and the subordinated loan from JPMorgan Chase & Co. to Maiden Lane LLC were
repaid in full, with interest.

5. Information on Principal Accounts of TALF LLC
Millions of dollars
Account name Wednesday
Sep 24, 2014

Asset-backed securities holdings (1) 0
Other investments, net 44
Net portfolio holdings of TALF LLC 44

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) 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 7.
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 6 and table 7.

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.

6. Consolidated Statement of Condition of All Federal Reserve Banks
Millions of dollars
Assets, liabilities, and capital Eliminations Wednesday Change since
from Sep 24, 2014 Wednesday Wednesday
consolidation Sep 17, 2014 Sep 25, 2013

Assets
Gold certificate account 11,037 0 0
Special drawing rights certificate account 5,200 0 0
Coin 1,935 + 2 - 64
Securities, unamortized premiums and discounts,
repurchase agreements, and loans 4,386,250 + 7,863 + 721,161
Securities held outright (1) 4,194,913 + 7,838 + 727,253
U.S. Treasury securities 2,448,625 + 2,053 + 386,621
Bills (2) 0 0 0
Notes and bonds, nominal (2) 2,333,867 + 2,064 + 372,402
Notes and bonds, inflation-indexed (2) 98,188 0 + 10,979
Inflation compensation (3) 16,570 - 11 + 3,240
Federal agency debt securities (2) 40,006 0 - 23,646
Mortgage-backed securities (4) 1,706,282 + 5,785 + 364,278
Unamortized premiums on securities held outright
(5) 209,711 + 17 + 5,628
Unamortized discounts on securities held outright
(5) -18,705 - 5 - 11,783
Repurchase agreements (6) 0 0 0
Loans 331 + 14 + 63
Net portfolio holdings of Maiden Lane LLC (7) 1,664 0 + 171
Net portfolio holdings of Maiden Lane II LLC (8) 0 0 - 64
Net portfolio holdings of Maiden Lane III LLC (8) 0 0 - 22
Net portfolio holdings of TALF LLC (9) 44 0 - 68
Items in process of collection (0) 79 - 5 - 14
Bank premises 2,260 + 1 - 30
Central bank liquidity swaps (10) 23 - 52 - 240
Foreign currency denominated assets (11) 22,500 - 290 - 1,622
Other assets (12) 28,060 + 1,945 + 5,826

Total assets (0) 4,459,050 + 9,462 + 725,032

Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table.

6. Consolidated Statement of Condition of All Federal Reserve Banks (continued)
Millions of dollars
Assets, liabilities, and capital Eliminations Wednesday Change since
from Sep 24, 2014 Wednesday Wednesday
consolidation Sep 17, 2014 Sep 25, 2013

Liabilities
Federal Reserve notes, net of F.R. Bank holdings 1,245,118 + 159 + 82,316
Reverse repurchase agreements (13) 261,724 + 9,500 + 158,554
Deposits (0) 2,888,956 + 157 + 485,969
Term deposits held by depository institutions 0 0 - 11,662
Other deposits held by depository institutions 2,707,185 - 44,723 + 400,172
U.S. Treasury, General Account 118,905 - 5,060 + 72,888
Foreign official 5,243 - 1 - 3,634
Other (14) (0) 57,623 + 49,941 + 28,205
Deferred availability cash items (0) 652 0 - 33
Other liabilities and accrued dividends (15) 6,232 - 375 - 3,259

Total liabilities (0) 4,402,681 + 9,440 + 723,545

Capital accounts
Capital paid in 28,185 + 12 + 744
Surplus 28,185 + 12 + 744
Other capital accounts 0 0 0

Total capital 56,370 + 23 + 1,488

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 7.
8. 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. Refer to the
note on consolidation accompanying table 7.
9. Refer to table 5 and the note on consolidation accompanying table 7.
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. Revalued daily at current foreign currency exchange rates.
12. Includes accrued interest, which represents the daily accumulation of interest earned, and other
accounts receivable.
13. Cash value of agreements, which are collateralized by U.S. Treasury securities, federal agency debt
securities, and mortgage-backed securities.
14. Includes deposits held at the Reserve Banks by international and multilateral organizations,
government-sponsored enterprises, and designated financial market utilities.
15. Includes the liabilities of TALF LLC to entities other than the Federal Reserve Bank of New York,
including liabilities that have recourse only to the portfolio holdings of this LLC. Refer to table 5
and the note on consolidation accompanying table 7. Also includes the liability for interest on
Federal Reserve notes due to U.S. Treasury.

7. Statement of Condition of Each Federal Reserve Bank, September 24, 2014
Millions of dollars
Assets, liabilities, and capital Total Boston New York Philadelphia Cleveland Richmond Atlanta Chicago St. Louis Minneapolis Kansas Dallas San
City Francisco

Assets
Gold certificate account 11,037 352 4,125 338 464 824 1,349 706 278 173 291 880 1,257
Special drawing rights certificate acct. 5,200 196 1,818 210 237 412 654 424 150 90 153 282 574
Coin 1,935 34 95 123 123 319 225 275 23 46 152 183 336
Securities, unamortized premiums and
discounts, repurchase agreements,
and loans 4,386,250 88,719 2,691,949 105,073 95,761 245,132 242,484 179,273 54,163 27,023 57,793 133,658 465,221
Securities held outright (1) 4,194,913 84,856 2,574,685 100,497 91,590 234,457 231,892 171,452 51,741 25,708 55,257 127,820 444,959
U.S. Treasury securities 2,448,625 49,531 1,502,877 58,662 53,462 136,855 135,359 100,079 30,202 15,006 32,254 74,610 259,728
Bills (2) 0 0 0 0 0 0 0 0 0 0 0 0 0
Notes and bonds (3) 2,448,625 49,531 1,502,877 58,662 53,462 136,855 135,359 100,079 30,202 15,006 32,254 74,610 259,728
Federal agency debt securities (2) 40,006 809 24,554 958 873 2,236 2,212 1,635 493 245 527 1,219 4,243
Mortgage-backed securities (4) 1,706,282 34,515 1,047,254 40,877 37,254 95,365 94,322 69,738 21,046 10,457 22,476 51,991 180,987
Unamortized premiums on securities held
outright (5) 209,711 4,242 128,713 5,024 4,579 11,721 11,593 8,571 2,587 1,285 2,762 6,390 22,244
Unamortized discounts on securities
held outright (5) -18,705 -378 -11,481 -448 -408 -1,045 -1,034 -765 -231 -115 -246 -570 -1,984
Repurchase agreements (6) 0 0 0 0 0 0 0 0 0 0 0 0 0
Loans 331 0 32 0 1 0 33 15 65 145 20 18 3
Net portfolio holdings of Maiden
Lane LLC (7) 1,664 0 1,664 0 0 0 0 0 0 0 0 0 0
Net portfolio holdings of Maiden
Lane II LLC (8) 0 0 0 0 0 0 0 0 0 0 0 0 0
Net portfolio holdings of Maiden
Lane III LLC (8) 0 0 0 0 0 0 0 0 0 0 0 0 0
Net portfolio holdings of TALF LLC (9) 44 0 44 0 0 0 0 0 0 0 0 0 0
Items in process of collection 79 0 0 0 0 0 78 0 0 0 0 0 0
Bank premises 2,260 120 437 74 110 222 209 199 124 97 243 224 200
Central bank liquidity swaps (10) 23 1 7 2 2 5 1 1 0 0 0 0 3
Foreign currency denominated
assets (11) 22,500 1,023 7,238 1,691 1,789 4,691 1,293 621 189 95 237 376 3,255
Other assets (12) 28,060 602 16,892 673 614 1,734 1,531 1,135 395 239 392 951 2,902
Interdistrict settlement account 0 + 16,782 + 27,623 + 2,841 + 1,323 - 41,754 + 1,221 - 15,672 - 11,362 - 3,091 - 2,995 + 1,676 + 23,408

Total assets 4,459,050 107,830 2,751,891 111,025 100,422 211,584 249,047 166,963 43,960 24,673 56,266 138,232 497,157

Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table.

7. Statement of Condition of Each Federal Reserve Bank, September 24, 2014 (continued)
Millions of dollars
Assets, liabilities, and capital Total Boston New York Philadelphia Cleveland Richmond Atlanta Chicago St. Louis Minneapolis Kansas Dallas San
City Francisco

Liabilities
Federal Reserve notes outstanding 1,444,434 44,600 486,754 43,204 65,722 103,296 213,672 94,784 38,060 21,002 36,645 116,378 180,316
Less: Notes held by F.R. Banks 199,316 5,704 64,845 6,332 9,380 11,634 22,034 11,510 5,003 4,132 5,381 24,171 29,190
Federal Reserve notes, net 1,245,118 38,896 421,909 36,872 56,342 91,662 191,638 83,274 33,057 16,871 31,264 92,206 151,126
Reverse repurchase agreements (13) 261,724 5,294 160,636 6,270 5,714 14,628 14,468 10,697 3,228 1,604 3,448 7,975 27,761
Deposits 2,888,956 60,875 2,148,220 63,449 33,689 93,129 38,752 71,100 7,005 5,667 20,815 36,834 309,422
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 2,707,185 60,868 1,966,658 63,410 33,685 93,001 38,743 71,093 7,005 5,666 20,813 36,830 309,413
U.S. Treasury, General Account 118,905 0 118,905 0 0 0 0 0 0 0 0 0 0
Foreign official 5,243 2 5,216 3 3 8 2 1 0 0 0 1 6
Other (14) 57,623 5 57,441 37 0 119 7 6 0 0 1 3 3
Deferred availability cash items 652 0 0 0 0 0 488 0 0 165 0 0 0
Interest on Federal Reserve notes due
to U.S. Treasury (15) 1,681 25 1,134 26 19 49 86 67 23 9 26 54 163
Other liabilities and accrued
dividends (16) 4,551 177 1,606 221 217 570 385 297 142 122 125 214 476

Total liabilities 4,402,681 105,267 2,733,505 106,838 95,981 200,037 245,816 165,434 43,455 24,438 55,678 137,283 488,948

Capital
Capital paid in 28,185 1,282 9,193 2,093 2,220 5,774 1,615 764 252 118 294 474 4,105
Surplus 28,185 1,282 9,193 2,093 2,220 5,774 1,615 764 252 118 294 474 4,105
Other capital 0 0 0 0 0 0 0 0 0 0 0 0 0

Total liabilities and capital 4,459,050 107,830 2,751,891 111,025 100,422 211,584 249,047 166,963 43,960 24,673 56,266 138,232 497,157

Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table.

7. Statement of Condition of Each Federal Reserve Bank, September 24, 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. 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. Refer
to the note on consolidation below.
9. Refer to table 5 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. Revalued daily at current foreign currency exchange rates.
12. Includes accrued interest, which represents the daily accumulation of interest earned, and other accounts receivable.
13. Cash value of agreements, which are collateralized by U.S. Treasury securities, federal agency debt securities, and mortgage-backed securities.
14. Includes deposits held at the Reserve Banks by international and multilateral organizations, government-sponsored enterprises, and designated financial market utilities.
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 TALF LLC to entities other than the Federal Reserve Bank of New York, including liabilities that have recourse only to the portfolio holdings of this LLC. Refer to
table 5 and the note on consolidation below.

Note on consolidation:

The Federal Reserve Bank of New York (FRBNY) 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 June 14, 2012, the remaining outstanding balance of the senior loan from FRBNY to Maiden Lane LLC
was repaid in full, with interest. On November 15, 2012, the remaining outstanding balance of the subordinated loan from JPMorgan Chase & Co. to Maiden Lane LLC was repaid in full, with
interest. 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. had written credit default swap contracts. On June 14, 2012, the loan from FRBNY to Maiden Lane III was repaid in full, with interest. 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 March 1, 2012, the loan from FRBNY to Maiden Lane II was repaid in full, with interest. 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. On January 15, 2013 the FRBNY's commitment to extend credit to TALF LLC was eliminated.

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 6), 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 6).

8. Collateral Held against Federal Reserve Notes: Federal Reserve Agents' Accounts
Millions of dollars
Federal Reserve notes and collateral Wednesday
Sep 24, 2014

Federal Reserve notes outstanding 1,444,434
Less: Notes held by F.R. Banks not subject to collateralization 199,316
Federal Reserve notes to be collateralized 1,245,118
Collateral held against Federal Reserve notes 1,245,118
Gold certificate account 11,037
Special drawing rights certificate account 5,200
U.S. Treasury, agency debt, and mortgage-backed securities pledged (1,2) 1,228,881
Other assets pledged 0
Memo:
Total U.S. Treasury, agency debt, and mortgage-backed securities (1,2) 4,194,913
Less: Face value of securities under reverse repurchase agreements 252,814
U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 3,942,100

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