FRB: H.4.1 Release--Factors Affecting Reserve Balances--October 16, 2014

FEDERAL RESERVE statistical release

H.4.1

Factors Affecting Reserve Balances of Depository Institutions and
Condition Statement of Federal Reserve Banks October 16, 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 Oct 15, 2014
Federal Reserve Banks Oct 15, 2014 Oct 8, 2014 Oct 16, 2013

Reserve Bank credit 4,421,473 + 9,761 + 659,430 4,432,443
Securities held outright (1) 4,196,676 + 7,256 + 662,371 4,208,523
U.S. Treasury securities 2,454,560 + 1,572 + 365,324 2,455,345
Bills (2) 0 0 0 0
Notes and bonds, nominal (2) 2,339,594 + 1,364 + 352,245 2,340,392
Notes and bonds, inflation-indexed (2) 98,469 + 241 + 10,077 98,469
Inflation compensation (3) 16,498 - 32 + 3,002 16,484
Federal agency debt securities (2) 39,962 - 44 - 20,551 39,700
Mortgage-backed securities (4) 1,702,153 + 5,728 + 317,597 1,713,478
Unamortized premiums on securities held outright (5) 208,968 - 94 + 3,973 209,379
Unamortized discounts on securities held outright (5) -18,735 + 16 - 10,928 -18,719
Repurchase agreements (6) 0 0 0 0
Loans 226 - 3 - 11 234
Primary credit 4 - 2 - 6 3
Secondary credit 0 0 0 0
Seasonal credit 208 - 1 + 81 217
Term Asset-Backed Securities Loan Facility (7) 14 0 - 87 14
Other credit extensions 0 0 0 0
Net portfolio holdings of Maiden Lane LLC (8) 1,671 + 6 + 178 1,674
Net portfolio holdings of Maiden Lane II LLC (9) 0 0 - 64 0
Net portfolio holdings of Maiden Lane III LLC (9) 0 0 - 22 0
Net portfolio holdings of TALF LLC (10) 24 - 11 - 87 24
Float -640 + 1 + 157 -955
Central bank liquidity swaps (11) 0 0 - 272 0
Other Federal Reserve assets (12) 33,283 + 2,590 + 4,135 32,283
Foreign currency denominated assets (13) 22,483 + 193 - 1,661 22,724
Gold stock 11,041 0 0 11,041
Special drawing rights certificate account 5,200 0 0 5,200
Treasury currency outstanding (14) 46,189 + 14 + 821 46,189

Total factors supplying reserve funds 4,506,386 + 9,968 + 658,590 4,517,596

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 Oct 15, 2014
Federal Reserve Banks Oct 15, 2014 Oct 8, 2014 Oct 16, 2013

Currency in circulation (14) 1,295,817 + 4,196 + 79,633 1,296,315
Reverse repurchase agreements (15) 254,443 - 26,290 + 151,925 221,149
Foreign official and international accounts 99,102 + 2,032 - 1,595 99,234
Others 155,341 - 28,322 + 153,520 121,915
Treasury cash holdings 194 + 8 + 15 195
Deposits with F.R. Banks, other than reserve balances 97,496 - 13,147 + 6,143 114,812
Term deposits held by depository institutions 0 0 0 0
U.S. Treasury, General Account 79,790 - 16,671 + 44,489 101,413
Foreign official 5,243 - 5 - 3,560 5,242
Other (16) 12,463 + 3,529 - 34,786 8,156
Other liabilities and capital (17) 65,147 + 1,260 - 1,471 64,390

Total factors, other than reserve balances,
absorbing reserve funds 1,713,096 - 33,974 + 236,244 1,696,860

Reserve balances with Federal Reserve Banks 2,793,290 + 43,943 + 422,346 2,820,736

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 Oct 15, 2014
Oct 15, 2014 Oct 8, 2014 Oct 16, 2013

Securities held in custody for foreign official and
international accounts 3,318,024 - 18,601 + 9,817 3,312,835
Marketable U.S. Treasury securities (1) 2,982,917 - 18,604 + 30,860 2,981,428
Federal agency debt and mortgage-backed securities (2) 291,155 - 483 - 25,252 289,523
Other securities (3) 43,953 + 487 + 4,210 41,884
Securities lent to dealers 12,596 + 837 - 2,775 12,540
Overnight facility (4) 12,596 + 837 - 2,775 12,540
U.S. Treasury securities 11,803 + 801 - 2,402 11,800
Federal agency debt securities 793 + 36 - 373 740

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, October 15, 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 73 161 0 0 0 ... 234
U.S. Treasury securities (1)
Holdings 0 90 3,194 1,047,856 741,433 662,772 2,455,345
Weekly changes 0 0 0 - 6 - 6 + 899 + 888
Federal agency debt securities (2)
Holdings 0 1,023 4,531 31,799 0 2,347 39,700
Weekly changes - 306 0 + 947 - 947 0 0 - 306
Mortgage-backed securities (3)
Holdings 0 0 0 10 5,023 1,708,445 1,713,478
Weekly changes 0 0 0 0 - 31 + 17,083 + 17,052
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) 0 0 0 0 0 0 0

Reverse repurchase agreements (5) 221,149 0 ... ... ... ... 221,149
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
Oct 15, 2014

Mortgage-backed securities held outright (1) 1,713,478

Commitments to buy mortgage-backed securities (2) 53,279
Commitments to sell mortgage-backed securities (2) 0

Cash and cash equivalents (3) 4

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
Oct 15, 2014

Net portfolio holdings of Maiden Lane LLC (1) 1,674

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
Oct 15, 2014

Asset-backed securities holdings (1) 0
Other investments, net 24
Net portfolio holdings of TALF LLC 24

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 Oct 15, 2014 Wednesday Wednesday
consolidation Oct 8, 2014 Oct 16, 2013

Assets
Gold certificate account 11,037 0 0
Special drawing rights certificate account 5,200 0 0
Coin 1,899 - 18 - 86
Securities, unamortized premiums and discounts,
repurchase agreements, and loans 4,399,417 + 18,065 + 658,882
Securities held outright (1) 4,208,523 + 17,634 + 665,576
U.S. Treasury securities 2,455,345 + 888 + 360,311
Bills (2) 0 0 0
Notes and bonds, nominal (2) 2,340,392 + 931 + 347,469
Notes and bonds, inflation-indexed (2) 98,469 0 + 9,880
Inflation compensation (3) 16,484 - 44 + 2,962
Federal agency debt securities (2) 39,700 - 306 - 20,465
Mortgage-backed securities (4) 1,713,478 + 17,052 + 325,730
Unamortized premiums on securities held outright
(5) 209,379 + 380 + 4,156
Unamortized discounts on securities held outright
(5) -18,719 + 38 - 10,831
Repurchase agreements (6) 0 0 0
Loans 234 + 13 - 18
Net portfolio holdings of Maiden Lane LLC (7) 1,674 + 3 + 181
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) 24 0 - 87
Items in process of collection (0) 102 + 24 + 1
Bank premises 2,259 + 1 - 26
Central bank liquidity swaps (10) 0 0 - 272
Foreign currency denominated assets (11) 22,724 + 296 - 1,327
Other assets (12) 30,024 + 584 + 3,581

Total assets (0) 4,474,360 + 18,957 + 660,761

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 Oct 15, 2014 Wednesday Wednesday
consolidation Oct 8, 2014 Oct 16, 2013

Liabilities
Federal Reserve notes, net of F.R. Bank holdings 1,252,216 + 2,571 + 79,089
Reverse repurchase agreements (13) 221,149 - 56,717 + 115,494
Deposits (0) 2,935,548 + 71,683 + 466,352
Term deposits held by depository institutions 0 0 0
Other deposits held by depository institutions 2,820,736 + 55,120 + 437,305
U.S. Treasury, General Account 101,413 + 16,104 + 69,547
Foreign official 5,242 - 1 - 3,560
Other (14) (0) 8,156 + 459 - 36,940
Deferred availability cash items (0) 1,057 + 365 - 323
Other liabilities and accrued dividends (15) 7,965 + 1,027 - 1,382

Total liabilities (0) 4,417,934 + 18,929 + 659,229

Capital accounts
Capital paid in 28,213 + 14 + 766
Surplus 28,213 + 14 + 766
Other capital accounts 0 0 0

Total capital 56,425 + 27 + 1,532

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, October 15, 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 1,899 31 93 122 120 314 220 275 17 46 151 179 331
Securities, unamortized premiums and
discounts, repurchase agreements,
and loans 4,399,417 88,988 2,700,073 105,391 96,049 245,873 243,217 179,820 54,289 27,070 57,970 134,051 466,626
Securities held outright (1) 4,208,523 85,131 2,583,038 100,823 91,887 235,217 232,645 172,008 51,909 25,791 55,436 128,235 446,402
U.S. Treasury securities 2,455,345 49,667 1,507,001 58,823 53,609 137,231 135,730 100,353 30,285 15,047 32,343 74,815 260,441
Bills (2) 0 0 0 0 0 0 0 0 0 0 0 0 0
Notes and bonds (3) 2,455,345 49,667 1,507,001 58,823 53,609 137,231 135,730 100,353 30,285 15,047 32,343 74,815 260,441
Federal agency debt securities (2) 39,700 803 24,366 951 867 2,219 2,195 1,623 490 243 523 1,210 4,211
Mortgage-backed securities (4) 1,713,478 34,661 1,051,671 41,050 37,411 95,767 94,720 70,032 21,135 10,501 22,571 52,210 181,750
Unamortized premiums on securities held
outright (5) 209,379 4,235 128,509 5,016 4,571 11,702 11,574 8,558 2,583 1,283 2,758 6,380 22,209
Unamortized discounts on securities
held outright (5) -18,719 -379 -11,489 -448 -409 -1,046 -1,035 -765 -231 -115 -247 -570 -1,986
Repurchase agreements (6) 0 0 0 0 0 0 0 0 0 0 0 0 0
Loans 234 0 14 0 0 0 33 20 28 110 22 7 0
Net portfolio holdings of Maiden
Lane LLC (7) 1,674 0 1,674 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) 24 0 24 0 0 0 0 0 0 0 0 0 0
Items in process of collection 102 0 0 0 0 0 101 0 0 1 0 0 0
Bank premises 2,259 122 435 74 110 222 210 199 123 97 243 224 200
Central bank liquidity swaps (10) 0 0 0 0 0 0 0 0 0 0 0 0 0
Foreign currency denominated
assets (11) 22,724 1,033 7,310 1,708 1,807 4,738 1,306 627 191 96 239 380 3,288
Other assets (12) 30,024 644 18,167 722 659 1,826 1,641 1,214 429 215 419 968 3,121
Interdistrict settlement account 0 + 23,733 - 61,186 - 3,317 + 7,564 + 4,878 + 4,348 - 14,853 - 9,858 - 2,262 - 2,283 + 6,158 + 47,078

Total assets 4,474,360 115,099 2,672,533 105,249 107,010 259,087 253,046 168,413 45,619 25,525 57,182 143,123 522,474

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, October 15, 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 1,448,055 44,383 483,656 43,968 66,182 102,941 214,245 96,970 38,939 21,078 36,450 116,689 182,555
Less: Notes held by F.R. Banks 195,839 5,206 68,046 5,916 8,649 11,284 21,945 10,943 4,724 3,871 5,141 21,885 28,230
Federal Reserve notes, net 1,252,216 39,177 415,611 38,053 57,532 91,657 192,300 86,027 34,214 17,207 31,309 94,805 154,325
Reverse repurchase agreements (13) 221,149 4,473 135,733 5,298 4,828 12,360 12,225 9,039 2,728 1,355 2,913 6,738 23,457
Deposits 2,935,548 68,664 2,098,192 58,496 39,938 142,139 43,828 71,449 8,008 6,499 22,207 40,344 335,785
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 2,820,736 68,660 1,983,702 58,462 39,935 141,887 43,818 71,442 8,008 6,499 22,205 40,342 335,776
U.S. Treasury, General Account 101,413 0 101,413 0 0 0 0 0 0 0 0 0 0
Foreign official 5,242 2 5,215 3 3 8 2 1 0 0 0 1 6
Other (14) 8,156 2 7,862 31 0 244 7 6 0 0 1 1 3
Deferred availability cash items 1,057 0 0 0 0 0 960 0 0 97 0 0 0
Interest on Federal Reserve notes due
to U.S. Treasury (15) 1,578 34 1,210 48 48 -254 97 80 19 11 24 55 206
Other liabilities and accrued
dividends (16) 6,387 187 3,402 221 222 579 383 289 146 120 131 212 495

Total liabilities 4,417,934 112,536 2,654,147 102,115 102,568 246,482 249,792 166,883 45,116 25,289 56,584 142,154 514,268

Capital
Capital paid in 28,213 1,282 9,193 1,567 2,221 6,303 1,627 765 252 118 299 484 4,103
Surplus 28,213 1,282 9,193 1,567 2,221 6,303 1,627 765 252 118 299 484 4,103
Other capital 0 0 0 0 0 0 0 0 0 0 0 0 0

Total liabilities and capital 4,474,360 115,099 2,672,533 105,249 107,010 259,087 253,046 168,413 45,619 25,525 57,182 143,123 522,474

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, October 15, 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
Oct 15, 2014

Federal Reserve notes outstanding 1,448,055
Less: Notes held by F.R. Banks not subject to collateralization 195,839
Federal Reserve notes to be collateralized 1,252,216
Collateral held against Federal Reserve notes 1,252,216
Gold certificate account 11,037
Special drawing rights certificate account 5,200
U.S. Treasury, agency debt, and mortgage-backed securities pledged (1,2) 1,235,979
Other assets pledged 0
Memo:
Total U.S. Treasury, agency debt, and mortgage-backed securities (1,2) 4,208,523
Less: Face value of securities under reverse repurchase agreements 207,566
U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 4,000,958

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