FEDERAL RESERVE statistical release H.4.1 Factors Affecting Reserve Balances of Depository Institutions and Condition Statement of Federal Reserve Banks March 29, 2012 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 Mar 28, 2012 Federal Reserve Banks Mar 28, 2012 Mar 21, 2012 Mar 30, 2011 Reserve Bank credit 2,872,714 + 1,487 + 275,330 2,860,948 Securities held outright (1) 2,609,857 + 220 + 216,018 2,598,175 U.S. Treasury securities 1,667,941 + 5,464 + 344,708 1,664,911 Bills (2) 18,423 0 0 18,423 Notes and bonds, nominal (2) 1,571,722 + 5,387 + 331,311 1,568,664 Notes and bonds, inflation-indexed (2) 68,667 0 + 11,018 68,667 Inflation compensation (3) 9,129 + 77 + 2,379 9,158 Federal agency debt securities (2) 96,837 - 2,155 - 35,658 96,478 Mortgage-backed securities (4) 845,079 - 3,089 - 93,032 836,786 Repurchase agreements (5) 0 0 0 0 Loans 7,077 - 302 - 12,286 7,061 Primary credit 4 - 8 - 7 1 Secondary credit 0 0 0 0 Seasonal credit 5 - 1 0 3 Term Asset-Backed Securities Loan Facility (6) 7,067 - 295 - 12,279 7,056 Other credit extensions 0 0 0 0 Net portfolio holdings of Maiden Lane LLC (7) 5,422 + 51 - 20,167 5,417 Net portfolio holdings of Maiden Lane II LLC (8) 19 - 1,157 - 15,887 19 Net portfolio holdings of Maiden Lane III LLC (9) 17,450 + 14 - 5,470 17,455 Net portfolio holdings of TALF LLC (10) 831 + 5 + 113 831 Float -835 + 13 + 332 -946 Central bank liquidity swaps (11) 65,069 - 524 + 65,069 65,068 Other Federal Reserve assets (12) 167,825 + 3,169 + 47,609 167,868 Gold stock 11,041 0 0 11,041 Special drawing rights certificate account 5,200 0 0 5,200 Treasury currency outstanding (13) 44,366 + 14 + 581 44,366 Total factors supplying reserve funds 2,933,321 + 1,501 + 275,911 2,921,554 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 Mar 28, 2012 Federal Reserve Banks Mar 28, 2012 Mar 21, 2012 Mar 30, 2011 Currency in circulation (13) 1,096,554 + 412 + 93,182 1,098,319 Reverse repurchase agreements (14) 85,084 - 8,886 + 20,904 83,227 Foreign official and international accounts 85,084 - 7,815 + 21,585 83,227 Others 0 - 1,071 - 681 0 Treasury cash holdings 159 - 4 - 53 150 Deposits with F.R. Banks, other than reserve balances 150,890 + 8,395 + 84,222 103,554 Term deposits held by depository institutions 3,057 + 3,057 + 3,057 3,057 U.S. Treasury, General Account 84,043 - 18,445 + 25,528 68,452 U.S. Treasury, Supplementary Financing Account 0 0 - 5,000 0 Foreign official 137 + 7 + 12 127 Service-related 1,937 - 16 - 576 1,937 Required clearing balances 1,937 - 16 - 576 1,937 Adjustments to compensate for float 0 0 0 0 Other 61,717 + 23,792 + 61,201 29,981 Other liabilities and capital (15) 74,114 - 1,328 + 1,432 73,236 Total factors, other than reserve balances, absorbing reserve funds 1,406,800 - 1,412 + 199,686 1,358,486 Reserve balances with Federal Reserve Banks 1,526,521 + 2,913 + 76,225 1,563,069 Note: Components may not sum to totals because of rounding. 1. Includes securities lent to dealers under the overnight securities lending facility; refer to table 1A. 2. Face value of the securities. 3. Compensation that adjusts for the effect of inflation on the original face value of inflation-indexed securities. 4. Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. Current face value of the securities, which is the remaining principal balance of the underlying mortgages. 5. Cash value of agreements. 6. Includes credit extended by the Federal Reserve Bank of New York to eligible borrowers through the Term Asset-Backed Securities Loan Facility. 7. Refer to table 4 and the note on consolidation accompanying table 9. 8. Refer to table 5 and the note on consolidation accompanying table 9. 9. Refer to table 6 and the note on consolidation accompanying table 9. 10. Refer to table 7 and the note on consolidation accompanying table 9. 11. Dollar value of foreign currency held under these agreements valued at the exchange rate to be used when the foreign currency is returned to the foreign central bank. This exchange rate equals the market exchange rate used when the foreign currency was acquired from the foreign central bank. 12. Includes other assets denominated in foreign currencies, which are revalued daily at market exchange rates, and the fair value adjustment to credit extended by the FRBNY to eligible borrowers through the Term Asset-Backed Securities Loan Facility. 13. Estimated. 14. Cash value of agreements, which are collateralized by U.S. Treasury securities, federal agency debt securities, and mortgage-backed securities. 15. Includes the liabilities of Maiden Lane LLC, Maiden Lane II LLC, Maiden Lane III LLC, and TALF LLC to entities other than the Federal Reserve Bank of New York, including liabilities that have recourse only to the portfolio holdings of these LLCs. Refer to table 4 through table 7 and the note on consolidation accompanying table 9. Also includes the liability for interest on Federal Reserve notes due to U.S. Treasury. Refer to table 8 and table 9. Sources: Federal Reserve Banks and the U.S. Department of the Treasury. 1A. Memorandum Items Millions of dollars Averages of daily figures Wednesday Week ended Change from week ended Mar 28, 2012 Memorandum item Mar 28, 2012 Mar 21, 2012 Mar 30, 2011 Marketable securities held in custody for foreign official and international accounts (1) 3,474,148 - 3,110 + 66,535 3,474,615 U.S. Treasury securities 2,740,870 + 289 + 98,743 2,740,634 Federal agency securities (2) 733,278 - 3,399 - 32,208 733,981 Securities lent to dealers 19,779 + 487 - 674 20,944 Overnight facility (3) 19,779 + 487 - 674 20,944 U.S. Treasury securities 19,062 + 481 - 249 20,232 Federal agency debt securities 717 + 6 - 426 712 Note: Components may not sum to totals because of rounding. 1. Face value of the securities. Includes U.S. Treasury STRIPS and other zero-coupon bonds at face value and mortgage-backed securities at original face value. 2. Includes debt and mortgage-backed securities. 3. Fully collateralized by U.S. Treasury securities. 2. Maturity Distribution of Securities, Loans, and Selected Other Assets and Liabilities, March 28, 2012 Millions of dollars Within 15 16 days to 91 days to Over 1 year Over 5 years Over 10 All Remaining maturity days 90 days 1 year to 5 years to 10 years years Loans (1) 5 570 4,387 2,099 0 ... 7,061 U.S. Treasury securities (2) Holdings 14,488 30,546 52,099 574,954 711,708 281,117 1,664,911 Weekly changes - 2,503 + 2,506 - 1,628 - 6,980 + 4,043 + 5,990 + 1,427 Federal agency debt securities (3) Holdings 0 4,994 19,061 59,094 10,982 2,347 96,478 Weekly changes - 2,514 + 629 - 629 0 0 0 - 2,514 Mortgage-backed securities (4) Holdings 0 0 1 10 97 836,678 836,786 Weekly changes 0 0 0 - 1 - 2 - 14,472 - 14,474 Asset-backed securities held by TALF LLC (5) 0 0 0 0 0 0 0 Repurchase agreements (6) 0 0 ... ... ... ... 0 Central bank liquidity swaps (7) 40,273 24,795 0 0 0 0 65,068 Reverse repurchase agreements (6) 83,227 0 ... ... ... ... 83,227 Term deposits 0 3,057 0 ... ... ... 3,057 Note: Components may not sum to totals because of rounding. . . . Not applicable. 1. Excludes the loans from the Federal Reserve Bank of New York (FRBNY) to Maiden Lane LLC, Maiden Lane II LLC, Maiden Lane III LLC, and TALF LLC. The loans were eliminated when preparing the FRBNY's statement of condition consistent with consolidation under generally accepted accounting principles. 2. Face value. For inflation-indexed securities, includes the original face value and compensation that adjusts for the effect of inflation on the original face value of such securities. 3. Face value. 4. Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. Current face value of the securities, which is the remaining principal balance of the underlying mortgages. 5. Face value of asset-backed securities held by TALF LLC, which is the remaining principal balance of the underlying assets. 6. Cash value of agreements. 7. Dollar value of foreign currency held under these agreements valued at the exchange rate to be used when the foreign currency is returned to the foreign central bank. This exchange rate equals the market exchange rate used when the foreign currency was acquired from the foreign central bank. 3. Supplemental Information on Mortgage-Backed Securities Millions of dollars Wednesday Account name Mar 28, 2012 Mortgage-backed securities held outright (1) 836,786 Commitments to buy mortgage-backed securities (2) 43,724 Commitments to sell mortgage-backed securities (2) 0 Cash and cash equivalents (3) 117 1. Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. Current face value of the securities, which is the remaining principal balance of the underlying mortgages. 2. Current face value. Generally settle within 180 days and include commitments associated with outright transactions, dollar rolls, and coupon swaps. 3. This amount is included in other Federal Reserve assets in table 1 and in other assets in table 8 and table 9. 4. Information on Principal Accounts of Maiden Lane LLC Millions of dollars Wednesday Account name Mar 28, 2012 Net portfolio holdings of Maiden Lane LLC (1) 5,417 Outstanding principal amount of loan extended by the Federal Reserve Bank of New York (2) 2,150 Accrued interest payable to the Federal Reserve Bank of New York (2) 763 Outstanding principal amount and accrued interest on loan payable to JPMorgan Chase & Co. (3) 1,402 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, 2011. 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 Wednesday Account name Mar 28, 2012 Net portfolio holdings of Maiden Lane II LLC (1) 19 Outstanding principal amount of loan extended by the Federal Reserve Bank of New York (2) 0 Accrued interest payable to the Federal Reserve Bank of New York (2) 0 Deferred payment and accrued interest payable to subsidiaries of American International Group, Inc. (3) 0 1. Fair value. Fair value reflects an estimate of the price that would be received upon selling an asset if the transaction were to be conducted in an orderly market on the measurement date. Revalued quarterly. This table reflects valuations as of December 31, 2011. 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 Wednesday Account name Mar 28, 2012 Net portfolio holdings of Maiden Lane III LLC (1) 17,455 Outstanding principal amount of loan extended by the Federal Reserve Bank of New York (2) 8,271 Accrued interest payable to the Federal Reserve Bank of New York (2) 721 Outstanding principal amount and accrued interest on loan payable to American International Group, Inc. (3) 5,585 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, 2011. 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 Wednesday Account name Mar 28, 2012 Asset-backed securities holdings (1) 0 Other investments, net 831 Net portfolio holdings of TALF LLC 831 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) 110 1. Fair value. Fair value reflects an estimate of the price that would be received upon selling an asset if the transaction were to be conducted in an orderly market on the measurement date. 2. Book value. This amount was eliminated when preparing the Federal Reserve Bank of New York's statement of condition consistent with consolidation under generally accepted accounting principles. Refer to the note on consolidation accompanying table 9. 3. Book value. The fair value of these obligations is included in other liabilities and capital in table 1 and in other liabilities and accrued dividends in table 8 and table 9. Note: On November 25, 2008, the Federal Reserve announced the creation of the Term Asset-Backed Securities Loan Facility (TALF) under the authority of section 13(3) of the Federal Reserve Act. The TALF is a facility under which the Federal Reserve Bank of New York (FRBNY) extends loans with a term of up to five years to holders of eligible asset-backed securities. The TALF is intended to assist financial markets in accommodating the credit needs of consumers and businesses by facilitating the issuance of asset-backed securities collateralized by a variety of consumer and business loans. The loans provided through the TALF to eligible borrowers are non-recourse, meaning that the obligation of the borrower can be discharged by surrendering the collateral to the FRBNY. The loans are extended for the market value of the security less an amount known as a haircut. As a result, the borrower bears the initial risk of a decline in the value of the security. TALF LLC is a limited liability company formed to purchase and manage any asset-backed securities received by the FRBNY in connection with the decision of a borrower not to repay a TALF loan. TALF LLC has committed, for a fee, to purchase all asset-backed securities received by the FRBNY in conjunction with a TALF loan at a price equal to the TALF loan plus accrued but unpaid interest. Losses on asset-backed securities held by TALF LLC will be offset in the following order: by the commitment fees collected by TALF LLC, by the interest received on investments of TALF LLC, by up to $4.3 billion in subordinated debt funding provided by the U.S. Treasury, and finally, by senior debt funding provided by the FRBNY. Payments by TALF LLC from the proceeds of its net portfolio holdings will be made in the following order: operating expenses of TALF LLC, principal due to the FRBNY, principal due to the U.S. Treasury, interest due to the FRBNY, and interest due to the U.S. Treasury. Any remaining funds will be shared by the FRBNY and the U.S. Treasury. 8. Consolidated Statement of Condition of All Federal Reserve Banks Millions of dollars Eliminations from Wednesday Change since consolidation Mar 28, 2012 Wednesday Wednesday Assets, liabilities, and capital Mar 21, 2012 Mar 30, 2011 Assets Gold certificate account 11,037 0 0 Special drawing rights certificate account 5,200 0 0 Coin 2,319 - 8 + 137 Securities, repurchase agreements, and loans 2,605,236 - 15,800 + 182,888 Securities held outright (1) 2,598,175 - 15,562 + 195,080 U.S. Treasury securities 1,664,911 + 1,427 + 331,466 Bills (2) 18,423 0 0 Notes and bonds, nominal (2) 1,568,664 + 1,350 + 319,440 Notes and bonds, inflation-indexed (2) 68,667 0 + 9,674 Inflation compensation (3) 9,158 + 77 + 2,353 Federal agency debt securities (2) 96,478 - 2,514 - 36,017 Mortgage-backed securities (4) 836,786 - 14,474 - 100,369 Repurchase agreements (5) 0 0 0 Loans 7,061 - 238 - 12,193 Net portfolio holdings of Maiden Lane LLC (6) 5,417 - 5 - 20,171 Net portfolio holdings of Maiden Lane II LLC (7) 19 0 - 15,922 Net portfolio holdings of Maiden Lane III LLC (8) 17,455 + 6 - 5,472 Net portfolio holdings of TALF LLC (9) 831 0 + 113 Items in process of collection (63) 36 - 88 - 115 Bank premises 2,383 - 2 + 164 Central bank liquidity swaps (10) 65,068 - 525 + 65,068 Other assets (11) 165,461 + 1,892 + 47,184 Total assets (63) 2,880,463 - 14,528 + 253,874 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 Eliminations from Wednesday Change since consolidation Mar 28, 2012 Wednesday Wednesday Assets, liabilities, and capital Mar 21, 2012 Mar 30, 2011 Liabilities Federal Reserve notes, net of F.R. Bank holdings 1,056,418 + 944 + 92,427 Reverse repurchase agreements (12) 83,227 - 2,661 + 17,416 Deposits (0) 1,666,599 - 12,923 + 143,211 Term deposits held by depository institutions 3,057 + 3,057 + 3,057 Other deposits held by depository institutions 1,564,982 + 20,353 + 106,817 U.S. Treasury, General Account 68,452 - 18,720 + 9,251 U.S. Treasury, Supplementary Financing Account 0 0 - 5,000 Foreign official 127 - 17 - 4 Other (0) 29,981 - 17,595 + 29,089 Deferred availability cash items (63) 983 + 22 - 712 Other liabilities and accrued dividends (13) 18,802 - 9 - 321 Total liabilities (63) 2,826,029 - 14,628 + 252,022 Capital accounts Capital paid in 27,217 + 50 + 926 Surplus 27,217 + 50 + 926 Other capital accounts 0 0 0 Total capital 54,434 + 100 + 1,852 Note: Components may not sum to totals because of rounding. 1. Includes securities lent to dealers under the overnight securities lending facility; refer to table 1A. 2. Face value of the securities. 3. Compensation that adjusts for the effect of inflation on the original face value of inflation-indexed securities. 4. Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. Current face value of the securities, which is the remaining principal balance of the underlying mortgages. 5. Cash value of agreements, which are collateralized by U.S. Treasury and federal agency securities. 6. Refer to table 4 and the note on consolidation accompanying table 9. 7. Refer to table 5 and the note on consolidation accompanying table 9. 8. Refer to table 6 and the note on consolidation accompanying table 9. 9. Refer to table 7 and the note on consolidation accompanying table 9. 10. Dollar value of foreign currency held under these agreements valued at the exchange rate to be used when the foreign currency is returned to the foreign central bank. This exchange rate equals the market exchange rate used when the foreign currency was acquired from the foreign central bank. 11. Includes other assets denominated in foreign currencies, which are revalued daily at market exchange rates and the fair value adjustment to credit extended by the Federal Reserve Bank of New York (FRBNY) to eligible borrowers through the Term Asset-Backed Securities Loan Facility. 12. Cash value of agreements, which are collateralized by U.S. Treasury securities, federal agency debt securities, and mortgage-backed securities. 13. Includes the liabilities of Maiden Lane LLC, Maiden Lane II LLC, Maiden Lane III LLC, and TALF LLC to entities other than the Federal Reserve Bank of New York, including liabilities that have recourse only to the portfolio holdings of these LLCs. Refer to table 4 through table 7 and the note on consolidation accompanying table 9. Also includes the liability for interest on Federal Reserve notes due to U.S. Treasury. 9. Statement of Condition of Each Federal Reserve Bank, March 28, 2012 Millions of dollars Total Boston New York Philadelphia Cleveland Richmond Atlanta Chicago St. Louis Minneapolis Kansas Dallas San Assets, liabilities, and capital City Francisco Assets Gold certificate account 11,037 390 3,866 432 450 872 1,394 854 319 197 318 728 1,217 Special drawing rights certificate acct. 5,200 196 1,818 210 237 412 654 424 150 90 153 282 574 Coin 2,319 58 116 159 164 413 202 327 35 60 172 227 385 Securities, repurchase agreements, and loans 2,605,236 63,883 1,215,319 89,003 70,182 300,063 193,155 154,294 49,176 39,930 69,113 102,758 258,360 Securities held outright (1) 2,598,175 63,880 1,208,263 89,003 70,182 300,063 193,155 154,294 49,176 39,930 69,113 102,758 258,359 U.S. Treasury securities 1,664,911 40,934 774,255 57,033 44,973 192,280 123,774 98,872 31,512 25,587 44,287 65,847 165,556 Bills (2) 18,423 453 8,567 631 498 2,128 1,370 1,094 349 283 490 729 1,832 Notes and bonds (3) 1,646,489 40,481 765,688 56,402 44,475 190,153 122,404 97,777 31,163 25,304 43,797 65,119 163,724 Federal agency debt securities (2) 96,478 2,372 44,866 3,305 2,606 11,142 7,172 5,729 1,826 1,483 2,566 3,816 9,594 Mortgage-backed securities (4) 836,786 20,574 389,141 28,665 22,603 96,640 62,209 49,693 15,838 12,860 22,259 33,095 83,209 Repurchase agreements (5) 0 0 0 0 0 0 0 0 0 0 0 0 0 Loans 7,061 3 7,056 0 0 0 0 0 0 0 0 0 1 Net portfolio holdings of Maiden Lane LLC (6) 5,417 0 5,417 0 0 0 0 0 0 0 0 0 0 Net portfolio holdings of Maiden Lane II LLC (7) 19 0 19 0 0 0 0 0 0 0 0 0 0 Net portfolio holdings of Maiden Lane III LLC (8) 17,455 0 17,455 0 0 0 0 0 0 0 0 0 0 Net portfolio holdings of TALF LLC (9) 831 0 831 0 0 0 0 0 0 0 0 0 0 Items in process of collection 99 6 0 46 28 3 -58 16 4 7 4 11 32 Bank premises 2,383 122 472 67 125 230 213 204 133 105 258 244 212 Central bank liquidity swaps (10) 65,068 2,281 20,989 5,644 4,810 13,460 3,721 1,736 532 265 647 1,042 9,940 Other assets (11) 165,461 4,361 73,028 7,052 5,673 21,530 11,880 8,970 2,880 2,294 3,983 6,016 17,793 Interdistrict settlement account 0 + 730 + 230,294 + 8,486 - 5,652 - 121,296 - 33,937 - 10,507 - 7,363 - 13,598 - 14,901 + 2,073 - 34,330 Total assets 2,880,526 72,028 1,569,624 111,098 76,018 215,687 177,224 156,317 45,866 29,351 59,747 113,382 254,184 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, March 28, 2012 (continued) Millions of dollars Total Boston New York Philadelphia Cleveland Richmond Atlanta Chicago St. Louis Minneapolis Kansas Dallas San Assets, liabilities, and capital City Francisco Liabilities Federal Reserve notes outstanding 1,233,752 43,820 436,308 48,243 59,875 102,629 143,727 92,815 33,314 22,696 36,813 78,776 134,736 Less: Notes held by F.R. Banks 177,334 4,785 62,112 6,087 7,783 11,116 26,601 12,073 4,201 4,209 3,476 11,149 23,740 Federal Reserve notes, net 1,056,418 39,034 374,196 42,156 52,091 91,513 117,126 80,742 29,113 18,487 33,337 67,627 110,995 Reverse repurchase agreements (12) 83,227 2,046 38,704 2,851 2,248 9,612 6,187 4,942 1,575 1,279 2,214 3,292 8,276 Deposits 1,666,599 28,064 1,125,305 61,244 17,030 102,590 50,027 68,609 14,512 8,935 23,396 41,185 125,705 Term deposits held by depository institutions 3,057 15 2,094 451 0 43 5 8 0 76 0 5 361 Other deposits held by depository institutions 1,564,982 28,048 1,024,803 60,779 17,026 102,465 50,019 68,567 14,511 8,858 23,394 41,178 125,332 U.S. Treasury, General Account 68,452 0 68,452 0 0 0 0 0 0 0 0 0 0 U.S. Treasury, Supplementary Financing Account 0 0 0 0 0 0 0 0 0 0 0 0 0 Foreign official 127 1 100 3 3 8 2 1 0 0 0 1 6 Other 29,981 0 29,856 10 1 73 0 32 0 0 1 1 6 Deferred availability cash items 1,046 36 0 90 97 18 194 28 23 251 30 64 216 Interest on Federal Reserve notes due to U.S. Treasury (13) 1,667 -10 805 71 58 227 126 41 29 24 44 63 190 Other liabilities and accrued dividends (14) 17,135 213 13,261 280 263 810 508 415 174 156 189 288 577 Total liabilities 2,826,092 69,383 1,552,271 106,692 71,788 204,770 174,167 154,777 45,427 29,132 59,210 112,518 245,959 Capital Capital paid in 27,217 1,323 8,677 2,203 2,115 5,458 1,528 770 220 110 269 432 4,113 Surplus 27,217 1,323 8,677 2,203 2,115 5,458 1,528 770 220 110 269 432 4,113 Other capital 0 0 0 0 0 0 0 0 0 0 0 0 0 Total liabilities and capital 2,880,526 72,028 1,569,624 111,098 76,018 215,687 177,224 156,317 45,866 29,351 59,747 113,382 254,184 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, March 28, 2012 (continued) 1. Includes securities lent to dealers under the overnight securities lending facility; refer to table 1A. 2. Face value of the securities. 3. Includes the original face value of inflation-indexed securities and compensation that adjusts for the effect of inflation on the original face value of such securities. 4. Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. Current face value of the securities, which is the remaining principal balance of the underlying mortgages. 5. Cash value of agreements, which are collateralized by U.S. Treasury and federal agency securities. 6. Refer to table 4 and the note on consolidation below. 7. Refer to table 5 and the note on consolidation below. 8. Refer to table 6 and the note on consolidation below. 9. Refer to table 7 and the note on consolidation below. 10. Dollar value of foreign currency held under these agreements valued at the exchange rate to be used when the foreign currency is returned to the foreign central bank. This exchange rate equals the market exchange rate used when the foreign currency was acquired from the foreign central bank. 11. Includes other assets denominated in foreign currencies, which are revalued daily at market exchange rates and the fair value adjustment to credit extended by the Federal Reserve Bank of New York (FRBNY) to eligible borrowers through the Term Asset-Backed Securities Loan Facility. 12. Cash value of agreements, which are collateralized by U.S. Treasury securities, federal agency debt securities, and mortgage-backed securities. 13. Represents the estimated weekly remittances to U.S Treasury as interest on Federal Reserve notes or, in those cases where the Reserve Bank's net earnings are not sufficient to equate surplus to capital paid-in, the deferred asset for interest on Federal Reserve notes. The amount of any deferred asset, which is presented as a negative amount in this line, represents the amount of the Federal Reserve Bank's earnings that must be retained before remittances to the U.S. Treasury resume. The amounts on this line are calculated in accordance with Board of Governors policy, which requires the Federal Reserve Banks to remit residual earnings to the U.S. Treasury as interest on Federal Reserve notes after providing for the costs of operations, payment of dividends, and the amount necessary to equate surplus with capital paid-in. 14. Includes the liabilities of Maiden Lane LLC, Maiden Lane II LLC, Maiden Lane III LLC, and TALF LLC to entities other than the Federal Reserve Bank of New York, including liabilities that have recourse only to the portfolio holdings of these LLCs. Refer to table 4 through table 7 and the note on consolidation below. Note on consolidation: The Federal Reserve Bank of New York (FRBNY) has extended loans to several limited liability companies under the authority of section 13(3) of the Federal Reserve Act. On June 26, 2008, a loan was extended to Maiden Lane LLC, which was formed to acquire certain assets of Bear Stearns. On November 25, 2008, a loan was extended to Maiden Lane III LLC, which was formed to purchase multi-sector collateralized debt obligations on which the Financial Products group of the American International Group, Inc. has written credit default swap contracts. On December 12, 2008, a loan was extended to Maiden Lane II LLC, which was formed to purchase residential mortgage-backed securities from the U.S. securities lending reinvestment portfolio of subsidiaries of American International Group, Inc. On November 25, 2008, the Federal Reserve Board authorized the FRBNY to extend credit to TALF LLC, which was formed to purchase and manage any asset-backed securities received by the FRBNY in connection with the decision of a borrower not to repay a loan extended under the Term Asset-Backed Securities Loan Facility. The FRBNY is the primary beneficiary of TALF LLC, because of the two beneficiaries of the LLC, the FRBNY and the U.S. Treasury, the FRBNY is primarily responsible for directing the financial activities of TALF LLC. The FRBNY is the primary beneficiary of the other LLCs cited above because it will receive a majority of any residual returns of the LLCs and absorb a majority of any residual losses of the LLCs. Consistent with generally accepted accounting principles, the assets and liabilities of these LLCs have been consolidated with the assets and liabilities of the FRBNY in the preparation of the statements of condition shown on this release. As a consequence of the consolidation, the extensions of credit from the FRBNY to the LLCs are eliminated, the net assets of the LLCs appear as assets on the previous page (and in table 1 and table 8), and the liabilities of the LLCs to entities other than the FRBNY, including those with recourse only to the portfolio holdings of the LLCs, are included in other liabilities in this table (and table 1 and table 8). 10. Collateral Held against Federal Reserve Notes: Federal Reserve Agents' Accounts Millions of dollars Wednesday Federal Reserve notes and collateral Mar 28, 2012 Federal Reserve notes outstanding 1,233,752 Less: Notes held by F.R. Banks not subject to collateralization 177,334 Federal Reserve notes to be collateralized 1,056,418 Collateral held against Federal Reserve notes 1,056,418 Gold certificate account 11,037 Special drawing rights certificate account 5,200 U.S. Treasury, agency debt, and mortgage-backed securities pledged (1,2) 1,040,182 Other assets pledged 0 Memo: Total U.S. Treasury, agency debt, and mortgage-backed securities (1,2) 2,598,175 Less: Face value of securities under reverse repurchase agreements 73,071 U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 2,525,104 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.