FEDERAL RESERVE statistical release H.4.1 Factors Affecting Reserve Balances of Depository Institutions and Condition Statement of Federal Reserve Banks December 13, 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 Dec 12, 2012 Federal Reserve Banks Dec 12, 2012 Dec 5, 2012 Dec 14, 2011 Reserve Bank credit 2,858,450 + 15,000 - 8,582 2,899,255 Securities held outright (1) 2,630,907 + 12,108 + 13,312 2,668,891 U.S. Treasury securities 1,661,520 + 5,631 - 10,011 1,660,807 Bills (2) 0 0 - 18,423 0 Notes and bonds, nominal (2) 1,577,099 + 5,426 + 1,067 1,575,114 Notes and bonds, inflation-indexed (2) 73,543 + 199 + 6,059 74,740 Inflation compensation (3) 10,878 + 6 + 1,285 10,953 Federal agency debt securities (2) 79,283 0 - 26,626 79,283 Mortgage-backed securities (4) 890,104 + 6,477 + 49,950 928,801 Repurchase agreements (5) 0 0 0 0 Loans 925 - 43 - 9,056 827 Primary credit 5 - 4 - 388 5 Secondary credit 0 0 0 0 Seasonal credit 21 - 1 - 3 19 Term Asset-Backed Securities Loan Facility (6) 899 - 38 - 8,664 803 Other credit extensions 0 0 0 0 Net portfolio holdings of Maiden Lane LLC (7) 1,434 + 2 - 8,702 1,434 Net portfolio holdings of Maiden Lane II LLC (8) 61 0 - 9,175 61 Net portfolio holdings of Maiden Lane III LLC (9) 22 0 - 17,878 22 Net portfolio holdings of TALF LLC (10) 856 0 + 53 856 Float -778 - 46 + 139 -1,059 Central bank liquidity swaps (11) 12,368 + 187 - 41,967 12,368 Other Federal Reserve assets (12) 212,655 + 2,792 + 64,692 215,855 Gold stock 11,041 0 0 11,041 Special drawing rights certificate account 5,200 0 0 5,200 Treasury currency outstanding (13) 44,775 + 14 + 590 44,775 Total factors supplying reserve funds 2,919,467 + 15,015 - 7,992 2,960,271 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 Dec 12, 2012 Federal Reserve Banks Dec 12, 2012 Dec 5, 2012 Dec 14, 2011 Currency in circulation (13) 1,154,779 + 2,976 + 90,446 1,156,037 Reverse repurchase agreements (14) 98,286 + 3,161 + 13,531 102,444 Foreign official and international accounts 97,964 + 3,988 + 13,209 102,444 Others 321 - 828 + 321 0 Treasury cash holdings 144 - 3 + 30 143 Deposits with F.R. Banks, other than reserve balances 76,171 + 12,676 - 27,416 76,971 Term deposits held by depository institutions 0 - 3,043 - 5,055 0 U.S. Treasury, General Account 38,980 + 4,983 + 17,496 31,399 Foreign official 5,955 - 836 + 5,746 5,841 Service-related 0 0 - 2,497 0 Required clearing balances 0 0 - 2,497 0 Adjustments to compensate for float 0 0 0 0 Other 31,236 + 11,573 - 43,106 39,730 Other liabilities and capital (15) 69,870 + 2,109 - 3,304 76,448 Total factors, other than reserve balances, absorbing reserve funds 1,399,250 + 20,920 + 73,287 1,412,042 Reserve balances with Federal Reserve Banks 1,520,217 - 5,905 - 81,278 1,548,229 Note: Components may not sum to totals because of rounding. 1. Includes securities lent to dealers under the overnight securities lending facility; refer to table 1A. 2. Face value of the securities. 3. Compensation that adjusts for the effect of inflation on the original face value of inflation-indexed securities. 4. Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. Current face value of the securities, which is the remaining principal balance of the underlying mortgages. 5. Cash value of agreements. 6. Includes credit extended by the Federal Reserve Bank of New York to eligible borrowers through the Term Asset-Backed Securities Loan Facility. 7. Refer to table 4 and the note on consolidation accompanying table 9. 8. Refer to table 5 and the note on consolidation accompanying table 9. 9. Refer to table 6 and the note on consolidation accompanying table 9. 10. Refer to table 7 and the note on consolidation accompanying table 9. 11. Dollar value of foreign currency held under these agreements valued at the exchange rate to be used when the foreign currency is returned to the foreign central bank. This exchange rate equals the market exchange rate used when the foreign currency was acquired from the foreign central bank. 12. Includes other assets denominated in foreign currencies, which are revalued daily at market exchange rates, and the fair value adjustment to credit extended by the FRBNY to eligible borrowers through the Term Asset-Backed Securities Loan Facility. 13. Estimated. 14. Cash value of agreements, which are collateralized by U.S. Treasury securities, federal agency debt securities, and mortgage-backed securities. 15. Includes the liabilities of Maiden Lane LLC, Maiden Lane II LLC, Maiden Lane III LLC, and TALF LLC to entities other than the Federal Reserve Bank of New York, including liabilities that have recourse only to the portfolio holdings of these LLCs. Refer to table 4 through table 7 and the note on consolidation accompanying table 9. Also includes the liability for interest on Federal Reserve notes due to U.S. Treasury. Refer to table 8 and table 9. Sources: Federal Reserve Banks and the U.S. Department of the Treasury. 1A. Memorandum Items Millions of dollars Memorandum item Averages of daily figures Wednesday Week ended Change from week ended Dec 12, 2012 Dec 12, 2012 Dec 5, 2012 Dec 14, 2011 Securities held in custody for foreign official and international accounts 3,214,921 + 12,200 + 132,203 3,220,818 Marketable U.S. Treasury securities (1) 2,861,248 + 12,019 + 211,377 2,866,875 Federal agency debt and mortgage-backed securities (2) 317,944 + 534 - 80,887 318,293 Other securities (3) 35,729 - 352 + 1,713 35,650 Securities lent to dealers 5,907 + 64 - 5,924 5,426 Overnight facility (4) 5,907 + 64 - 5,924 5,426 U.S. Treasury securities 5,204 - 54 - 5,462 4,746 Federal agency debt securities 702 + 117 - 462 680 Note: Components may not sum to totals because of rounding. 1. Includes securities and U.S. Treasury STRIPS at face value, and inflation compensation on TIPS. Does not include securities pledged as collateral to foreign official and international account holders against reverse repurchase agreements with the Federal Reserve presented in tables 1, 8, and 9. 2. Face value of federal agency securities and current face value of mortgage-backed securities, which is the remaining principal balance of the underlying mortgages. 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, December 12, 2012 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 (1) 6 309 0 512 0 ... 827 U.S. Treasury securities (2) Holdings 0 386 15 387,879 856,457 416,069 1,660,807 Weekly changes 0 0 - 26 - 7,568 + 9,706 + 5,101 + 7,214 Federal agency debt securities (3) Holdings 2,500 3,195 16,367 52,830 2,044 2,347 79,283 Weekly changes + 2,500 - 2,500 + 1,151 - 1,151 0 0 0 Mortgage-backed securities (4) Holdings 0 0 3 1 1,687 927,110 928,801 Weekly changes 0 0 0 0 + 1 + 45,155 + 45,155 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) 4,080 8,288 0 0 0 0 12,368 Reverse repurchase agreements (6) 102,444 0 ... ... ... ... 102,444 Term deposits 0 0 0 ... ... ... 0 Note: Components may not sum to totals because of rounding. ...Not applicable. 1. Excludes the loans from the Federal Reserve Bank of New York (FRBNY) to Maiden Lane LLC, Maiden Lane II LLC, Maiden Lane III LLC, and TALF LLC. The loans were eliminated when preparing the FRBNY's statement of condition consistent with consolidation under generally accepted accounting principles. 2. Face value. For inflation-indexed securities, includes the original face value and compensation that adjusts for the effect of inflation on the original face value of such securities. 3. Face value. 4. Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. Current face value of the securities, which is the remaining principal balance of the underlying mortgages. 5. Face value of asset-backed securities held by TALF LLC, which is the remaining principal balance of the underlying assets. 6. Cash value of agreements. 7. Dollar value of foreign currency held under these agreements valued at the exchange rate to be used when the foreign currency is returned to the foreign central bank. This exchange rate equals the market exchange rate used when the foreign currency was acquired from the foreign central bank. 3. Supplemental Information on Mortgage-Backed Securities Millions of dollars Account name Wednesday Dec 12, 2012 Mortgage-backed securities held outright (1) 928,801 Commitments to buy mortgage-backed securities (2) 98,329 Commitments to sell mortgage-backed securities (2) 0 Cash and cash equivalents (3) 8 1. Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. Current face value of the securities, which is the remaining principal balance of the underlying mortgages. 2. Current face value. Generally settle within 180 days and include commitments associated with outright transactions, dollar rolls, and coupon swaps. 3. This amount is included in other Federal Reserve assets in table 1 and in other assets in table 8 and table 9. 4. Information on Principal Accounts of Maiden Lane LLC Millions of dollars Account name Wednesday Dec 12, 2012 Net portfolio holdings of Maiden Lane LLC (1) 1,434 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 September 30, 2012. Any assets purchased after this valuation date are initially recorded at cost until their estimated fair value as of the purchase date becomes available. 2. Book value. This amount was eliminated when preparing the Federal Reserve Bank of New York's statement of condition consistent with consolidation under generally accepted accounting principles. Refer to the note on consolidation accompanying table 9. 3. Book value. The fair value of these obligations is included in other liabilities and capital in table 1 and in other liabilities and accrued dividends in table 8 and table 9. Note: On June 26, 2008, the Federal Reserve Bank of New York (FRBNY) extended credit to Maiden Lane LLC under the authority of section 13(3) of the Federal Reserve Act. This limited liability company was formed to acquire certain assets of Bear Stearns and to manage those assets through time to maximize repayment of the credit extended and to minimize disruption to financial markets. Payments by Maiden Lane LLC from the proceeds of the net portfolio holdings will be made in the following order: operating expenses of the LLC, principal due to the FRBNY, interest due to the FRBNY, principal due to JPMorgan Chase & Co., and interest due to JPMorgan Chase & Co. Any remaining funds will be paid to the FRBNY. 5. Information on Principal Accounts of Maiden Lane II LLC Millions of dollars Account name Wednesday Dec 12, 2012 Net portfolio holdings of Maiden Lane II LLC (1) 61 Outstanding principal amount of loan extended by the Federal Reserve Bank of New York (2) 0 Accrued interest payable to the Federal Reserve Bank of New York (2) 0 Deferred payment and accrued interest payable to subsidiaries of American International Group, Inc. (3) 0 1. Fair value. Fair value reflects an estimate of the price that would be received upon selling an asset if the transaction were to be conducted in an orderly market on the measurement date. Revalued quarterly. This table reflects valuations as of September 30, 2012. Any assets purchased after this valuation date are initially recorded at cost until their estimated fair value as of the purchase date becomes available. 2. Book value. This amount was eliminated when preparing the Federal Reserve Bank of New York's statement of condition consistent with consolidation under generally accepted accounting principles. Refer to the note on consolidation accompanying table 9. 3. Book value. The deferred payment represents the portion of the proceeds of the net portfolio holdings due to subsidiaries of American International Group, Inc. in accordance with the asset purchase agreement. The fair value of this payment and accrued interest payable are included in other liabilities and capital in table 1 and in other liabilities and accrued dividends in table 8 and table 9. Note: On December 12, 2008, the Federal Reserve Bank of New York (FRBNY) began extending credit to Maiden Lane II LLC under the authority of section 13(3) of the Federal Reserve Act. This limited liability company was formed to purchase residential mortgage-backed securities from the U.S. securities lending reinvestment portfolio of subsidiaries of American International Group, Inc. (AIG subsidiaries). Payments by Maiden Lane II LLC from the proceeds of the net portfolio holdings will be made in the following order: operating expenses of Maiden Lane II LLC, principal due to the FRBNY, interest due to the FRBNY, and deferred payment and interest due to AIG subsidiaries. Any remaining funds will be shared by the FRBNY and AIG subsidiaries. 6. Information on Principal Accounts of Maiden Lane III LLC Millions of dollars Account name Wednesday Dec 12, 2012 Net portfolio holdings of Maiden Lane III LLC (1) 22 Outstanding principal amount of loan extended by the Federal Reserve Bank of New York (2) 0 Accrued interest payable to the Federal Reserve Bank of New York (2) 0 Outstanding principal amount and accrued interest on loan payable to American International Group, Inc. (3) 0 1. Fair value. Fair value reflects an estimate of the price that would be received upon selling an asset if the transaction were to be conducted in an orderly market on the measurement date. Revalued quarterly. This table reflects valuations as of September 30, 2012. Any assets purchased after this valuation date are initially recorded at cost until their estimated fair value as of the purchase date becomes available. 2. Book value. This amount was eliminated when preparing the Federal Reserve Bank of New York's statement of condition consistent with consolidation under generally accepted accounting principles. Refer to the note on consolidation accompanying table 9. 3. Book value. The fair value of these obligations is included in other liabilities and capital in table 1 and in other liabilities and accrued dividends in table 8 and table 9. Note: On November 25, 2008, the Federal Reserve Bank of New York (FRBNY) began extending credit to Maiden Lane III LLC under the authority of section 13(3) of the Federal Reserve Act. This limited liability company was formed to purchase multi-sector collateralized debt obligations (CDOs) on which the Financial Products group of American International Group, Inc. (AIG) has written credit default swap (CDS) contracts. In connection with the purchase of CDOs, the CDS counterparties will concurrently unwind the related CDS transactions. Payments by Maiden Lane III LLC from the proceeds of the net portfolio holdings will be made in the following order: operating expenses of Maiden Lane III LLC, principal due to the FRBNY, interest due to the FRBNY, principal due to AIG, and interest due to AIG. Any remaining funds will be shared by the FRBNY and AIG. 7. Information on Principal Accounts of TALF LLC Millions of dollars Account name Wednesday Dec 12, 2012 Asset-backed securities holdings (1) 0 Other investments, net 856 Net portfolio holdings of TALF LLC 856 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) 113 1. Fair value. Fair value reflects an estimate of the price that would be received upon selling an asset if the transaction were to be conducted in an orderly market on the measurement date. 2. Book value. This amount was eliminated when preparing the Federal Reserve Bank of New York's statement of condition consistent with consolidation under generally accepted accounting principles. Refer to the note on consolidation accompanying table 9. 3. Book value. The fair value of these obligations is included in other liabilities and capital in table 1 and in other liabilities and accrued dividends in table 8 and table 9. Note: On November 25, 2008, the Federal Reserve announced the creation of the Term Asset-Backed Securities Loan Facility (TALF) under the authority of section 13(3) of the Federal Reserve Act. The TALF is a facility under which the Federal Reserve Bank of New York (FRBNY) extends loans with a term of up to five years to holders of eligible asset-backed securities. The TALF is intended to assist financial markets in accommodating the credit needs of consumers and businesses by facilitating the issuance of asset-backed securities collateralized by a variety of consumer and business loans. The loans provided through the TALF to eligible borrowers are non-recourse, meaning that the obligation of the borrower can be discharged by surrendering the collateral to the FRBNY. The loans are extended for the market value of the security less an amount known as a haircut. As a result, the borrower bears the initial risk of a decline in the value of the security. TALF LLC is a limited liability company formed to purchase and manage any asset-backed securities received by the FRBNY in connection with the decision of a borrower not to repay a TALF loan. TALF LLC has committed, for a fee, to purchase all asset-backed securities received by the FRBNY in conjunction with a TALF loan at a price equal to the TALF loan plus accrued but unpaid interest. Losses on asset-backed securities held by TALF LLC will be offset in the following order: by the commitment fees collected by TALF LLC, by the interest received on investments of TALF LLC, by up to $1.4 billion in subordinated debt funding provided by the U.S. Treasury, and finally, by senior debt funding provided by the FRBNY. Payments by TALF LLC from the proceeds of its net portfolio holdings will be made in the following order: operating expenses of TALF LLC, principal due to the FRBNY, principal due to the U.S. Treasury, interest due to the FRBNY, and interest due to the U.S. Treasury. Any remaining funds will be shared by the FRBNY and the U.S. Treasury. 8. Consolidated Statement of Condition of All Federal Reserve Banks Millions of dollars Assets, liabilities, and capital Eliminations Wednesday Change since from Dec 12, 2012 Wednesday Wednesday consolidation Dec 5, 2012 Dec 14, 2011 Assets Gold certificate account 11,037 0 0 Special drawing rights certificate account 5,200 0 0 Coin 2,126 + 11 - 154 Securities, repurchase agreements, and loans 2,669,718 + 52,238 + 22,668 Securities held outright (1) 2,668,891 + 52,370 + 31,429 U.S. Treasury securities 1,660,807 + 7,214 - 12,668 Bills (2) 0 0 - 18,423 Notes and bonds, nominal (2) 1,575,114 + 5,735 - 1,780 Notes and bonds, inflation-indexed (2) 74,740 + 1,396 + 6,272 Inflation compensation (3) 10,953 + 83 + 1,263 Federal agency debt securities (2) 79,283 0 - 26,626 Mortgage-backed securities (4) 928,801 + 45,155 + 70,723 Repurchase agreements (5) 0 0 0 Loans 827 - 132 - 8,761 Net portfolio holdings of Maiden Lane LLC (6) 1,434 0 - 5,777 Net portfolio holdings of Maiden Lane II LLC (7) 61 0 - 9,178 Net portfolio holdings of Maiden Lane III LLC (8) 22 0 - 17,697 Net portfolio holdings of TALF LLC (9) 856 0 + 53 Items in process of collection (0) 111 - 6 - 208 Bank premises 2,335 + 1 + 151 Central bank liquidity swaps (10) 12,368 + 187 - 41,967 Other assets (11) 213,519 + 5,016 + 65,935 Total assets (0) 2,918,788 + 57,448 + 13,829 Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table. 8. Consolidated Statement of Condition of All Federal Reserve Banks (continued) Millions of dollars Assets, liabilities, and capital Eliminations Wednesday Change since from Dec 12, 2012 Wednesday Wednesday consolidation Dec 5, 2012 Dec 14, 2011 Liabilities Federal Reserve notes, net of F.R. Bank holdings 1,113,527 + 1,205 + 88,898 Reverse repurchase agreements (12) 102,444 + 6,126 + 19,972 Deposits (0) 1,625,199 + 41,370 - 99,642 Term deposits held by depository institutions 0 - 3,043 - 5,055 Other deposits held by depository institutions 1,548,229 + 24,293 - 66,939 U.S. Treasury, General Account 31,399 + 9,968 + 5,748 Foreign official 5,841 - 2,136 + 5,141 Other (0) 39,730 + 12,287 - 38,537 Deferred availability cash items (0) 1,170 + 168 - 164 Other liabilities and accrued dividends (13) 21,722 + 8,546 + 3,917 Total liabilities (0) 2,864,062 + 57,415 + 12,981 Capital accounts Capital paid in 27,363 + 17 + 424 Surplus 27,363 + 17 + 424 Other capital accounts 0 0 0 Total capital 54,726 + 33 + 847 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, December 12, 2012 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 11,037 408 3,824 437 515 890 1,337 839 313 192 315 725 1,242 Special drawing rights certificate acct. 5,200 196 1,818 210 237 412 654 424 150 90 153 282 574 Coin 2,126 39 92 142 145 382 207 312 36 53 165 198 355 Securities, repurchase agreements, and loans 2,669,718 64,823 1,497,129 88,228 67,855 189,949 160,916 148,062 41,729 24,273 53,624 103,700 229,430 Securities held outright (1) 2,668,891 64,822 1,496,326 88,228 67,855 189,949 160,916 148,059 41,726 24,263 53,619 103,700 229,430 U.S. Treasury securities 1,660,807 40,338 931,139 54,903 42,225 118,202 100,135 92,134 25,965 15,098 33,366 64,531 142,770 Bills (2) 0 0 0 0 0 0 0 0 0 0 0 0 0 Notes and bonds (3) 1,660,807 40,338 931,139 54,903 42,225 118,202 100,135 92,134 25,965 15,098 33,366 64,531 142,770 Federal agency debt securities (2) 79,283 1,926 44,450 2,621 2,016 5,643 4,780 4,398 1,240 721 1,593 3,081 6,816 Mortgage-backed securities (4) 928,801 22,559 520,737 30,704 23,614 66,104 56,000 51,526 14,521 8,444 18,660 36,089 79,844 Repurchase agreements (5) 0 0 0 0 0 0 0 0 0 0 0 0 0 Loans 827 1 803 0 0 0 0 3 4 10 5 0 0 Net portfolio holdings of Maiden Lane LLC (6) 1,434 0 1,434 0 0 0 0 0 0 0 0 0 0 Net portfolio holdings of Maiden Lane II LLC (7) 61 0 61 0 0 0 0 0 0 0 0 0 0 Net portfolio holdings of Maiden Lane III LLC (8) 22 0 22 0 0 0 0 0 0 0 0 0 0 Net portfolio holdings of TALF LLC (9) 856 0 856 0 0 0 0 0 0 0 0 0 0 Items in process of collection 111 0 0 0 11 0 99 0 1 0 0 0 0 Bank premises 2,335 119 450 70 115 229 214 202 130 103 253 239 209 Central bank liquidity swaps (10) 12,368 434 3,990 1,073 914 2,558 707 330 101 50 123 198 1,889 Other assets (11) 213,519 5,487 113,284 8,450 6,668 18,761 12,842 11,114 3,179 1,866 4,051 7,785 20,032 Interdistrict settlement account 0 + 11,175 - 102,483 - 15,158 - 2,299 - 21,591 + 40,928 - 192 + 2,298 + 3,537 - 4,396 + 1,123 + 87,059 Total assets 2,918,788 82,681 1,520,476 83,451 74,162 191,590 217,904 161,091 47,937 30,165 54,289 114,250 340,791 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, December 12, 2012 (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 1,345,119 47,698 471,392 47,875 60,881 104,191 176,596 96,050 37,382 22,410 36,444 92,459 151,741 Less: Notes held by F.R. Banks 231,592 6,207 92,137 4,796 8,788 12,055 26,212 13,261 4,115 3,228 6,062 28,108 26,622 Federal Reserve notes, net 1,113,527 41,491 379,255 43,079 52,093 92,137 150,384 82,788 33,267 19,182 30,382 64,351 125,119 Reverse repurchase agreements (12) 102,444 2,488 57,435 3,387 2,605 7,291 6,177 5,683 1,602 931 2,058 3,980 8,807 Deposits 1,625,199 35,496 1,053,457 32,083 14,594 79,113 56,151 69,998 12,256 9,341 20,889 44,289 197,531 Term deposits held by depository institutions 0 0 0 0 0 0 0 0 0 0 0 0 0 Other deposits held by depository institutions 1,548,229 35,494 976,917 32,072 14,591 78,740 56,139 69,978 12,258 9,340 20,888 44,286 197,524 U.S. Treasury, General Account 31,399 0 31,399 0 0 0 0 0 0 0 0 0 0 Foreign official 5,841 1 5,814 3 3 8 2 1 0 0 0 1 6 Other 39,730 1 39,326 7 0 364 10 19 -3 0 1 3 1 Deferred availability cash items 1,171 0 0 0 23 0 914 0 0 234 0 0 0 Interest on Federal Reserve notes due to U.S. Treasury (13) 1,403 41 826 29 33 79 84 87 23 13 30 59 101 Other liabilities and accrued dividends (14) 20,319 475 12,014 641 546 1,477 1,075 976 335 236 376 695 1,472 Total liabilities 2,864,062 79,991 1,502,987 79,219 69,893 180,096 214,786 159,533 47,483 29,936 53,735 113,374 333,029 Capital Capital paid in 27,363 1,345 8,745 2,116 2,134 5,747 1,559 779 227 115 277 438 3,881 Surplus 27,363 1,345 8,745 2,116 2,134 5,747 1,559 779 227 115 277 438 3,881 Other capital 0 0 0 0 0 0 0 0 0 0 0 0 0 Total liabilities and capital 2,918,788 82,681 1,520,476 83,451 74,162 191,590 217,904 161,091 47,937 30,165 54,289 114,250 340,791 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, December 12, 2012 (continued) 1. Includes securities lent to dealers under the overnight securities lending facility; refer to table 1A. 2. Face value of the securities. 3. Includes the original face value of inflation-indexed securities and compensation that adjusts for the effect of inflation on the original face value of such securities. 4. Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. Current face value of the securities, which is the remaining principal balance of the underlying mortgages. 5. Cash value of agreements, which are collateralized by U.S. Treasury and federal agency securities. 6. Refer to table 4 and the note on consolidation below. 7. Refer to table 5 and the note on consolidation below. 8. Refer to table 6 and the note on consolidation below. 9. Refer to table 7 and the note on consolidation below. 10. Dollar value of foreign currency held under these agreements valued at the exchange rate to be used when the foreign currency is returned to the foreign central bank. This exchange rate equals the market exchange rate used when the foreign currency was acquired from the foreign central bank. 11. Includes other assets denominated in foreign currencies, which are revalued daily at market exchange rates and the fair value adjustment to credit extended by the Federal Reserve Bank of New York (FRBNY) to eligible borrowers through the Term Asset-Backed Securities Loan Facility. 12. Cash value of agreements, which are collateralized by U.S. Treasury securities, federal agency debt securities, and mortgage-backed securities. 13. Represents the estimated weekly remittances to U.S. Treasury as interest on Federal Reserve notes or, in those cases where the Reserve Bank's net earnings are not sufficient to equate surplus to capital paid-in, the deferred asset for interest on Federal Reserve notes. The amount of any deferred asset, which is presented as a negative amount in this line, represents the amount of the Federal Reserve Bank's earnings that must be retained before remittances to the U.S. Treasury resume. The amounts on this line are calculated in accordance with Board of Governors policy, which requires the Federal Reserve Banks to remit residual earnings to the U.S. Treasury as interest on Federal Reserve notes after providing for the costs of operations, payment of dividends, and the amount necessary to equate surplus with capital paid-in. 14. Includes the liabilities of Maiden Lane LLC, Maiden Lane II LLC, Maiden Lane III LLC, and TALF LLC to entities other than the Federal Reserve Bank of New York, including liabilities that have recourse only to the portfolio holdings of these LLCs. Refer to table 4 through table 7 and the note on consolidation below. Note on consolidation: The Federal Reserve Bank of New York (FRBNY) has extended loans to several limited liability companies under the authority of section 13(3) of the Federal Reserve Act. On June 26, 2008, a loan was extended to Maiden Lane LLC, which was formed to acquire certain assets of Bear Stearns. On November 25, 2008, a loan was extended to Maiden Lane III LLC, which was formed to purchase multi-sector collateralized debt obligations on which the Financial Products group of the American International Group, Inc. has written credit default swap contracts. On December 12, 2008, a loan was extended to Maiden Lane II LLC, which was formed to purchase residential mortgage-backed securities from the U.S. securities lending reinvestment portfolio of subsidiaries of American International Group, Inc. On November 25, 2008, the Federal Reserve Board authorized the FRBNY to extend credit to TALF LLC, which was formed to purchase and manage any asset-backed securities received by the FRBNY in connection with the decision of a borrower not to repay a loan extended under the Term Asset-Backed Securities Loan Facility. The FRBNY is the primary beneficiary of TALF LLC, because of the two beneficiaries of the LLC, the FRBNY and the U.S. Treasury, the FRBNY is primarily responsible for directing the financial activities of TALF LLC. The FRBNY is the primary beneficiary of the other LLCs cited above because it will receive a majority of any residual returns of the LLCs and absorb a majority of any residual losses of the LLCs. Consistent with generally accepted accounting principles, the assets and liabilities of these LLCs have been consolidated with the assets and liabilities of the FRBNY in the preparation of the statements of condition shown on this release. As a consequence of the consolidation, the extensions of credit from the FRBNY to the LLCs are eliminated, the net assets of the LLCs appear as assets on the previous page (and in table 1 and table 8), and the liabilities of the LLCs to entities other than the FRBNY, including those with recourse only to the portfolio holdings of the LLCs, are included in other liabilities in this table (and table 1 and table 8). 10. Collateral Held against Federal Reserve Notes: Federal Reserve Agents' Accounts Millions of dollars Federal Reserve notes and collateral Wednesday Dec 12, 2012 Federal Reserve notes outstanding 1,345,119 Less: Notes held by F.R. Banks not subject to collateralization 231,592 Federal Reserve notes to be collateralized 1,113,527 Collateral held against Federal Reserve notes 1,113,527 Gold certificate account 11,037 Special drawing rights certificate account 5,200 U.S. Treasury, agency debt, and mortgage-backed securities pledged (1,2) 1,097,290 Other assets pledged 0 Memo: Total U.S. Treasury, agency debt, and mortgage-backed securities (1,2) 2,668,891 Less: Face value of securities under reverse repurchase agreements 87,559 U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 2,581,332 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.