FEDERAL RESERVE statistical release H.4.1 Factors Affecting Reserve Balances of Depository Institutions and Condition Statement of Federal Reserve Banks May 14, 2009 1. Factors Affecting Reserve Balances of Depository Institutions Millions of dollars Reserve Bank credit, related items, and Averages of daily figures reserve balances of depository institutions at Week ended Change from week ended Wednesday Federal Reserve Banks May 13, 2009 May 6, 2009 May 14, 2008 May 13, 2009 Reserve Bank credit 2,116,487 + 75,111 +1,249,397 2,179,377 Securities held outright 1,025,649 + 36,147 + 505,595 1,081,591 U.S. Treasury securities (1) 569,426 + 15,338 + 49,372 577,091 Bills (2) 18,423 0 - 32,044 18,423 Notes and bonds, nominal (2) 505,114 + 15,313 + 79,725 512,770 Notes and bonds, inflation-indexed (2) 41,253 0 + 2,082 41,253 Inflation compensation (3) 4,636 + 25 - 392 4,645 Federal agency debt securities (2) 72,109 + 2,530 + 72,109 72,955 Mortgage-backed securities (4) 384,115 + 18,280 + 384,115 431,545 Repurchase agreements (5) 0 0 - 95,821 0 Term auction credit 428,835 + 25,262 + 303,835 428,835 Other loans 123,957 + 19,819 + 92,912 132,049 Primary credit 39,872 - 1,069 + 25,456 41,803 Secondary credit 0 - 6 - 1 0 Seasonal credit 9 + 5 - 28 11 Primary dealer and other broker-dealer credit (6) 482 - 161 - 16,110 0 Asset-Backed Commercial Paper Money Market Mutual Fund Liquidity Facility 28,781 + 18,111 + 28,781 28,616 Credit extended to American International Group, Inc. (7) 45,702 + 206 + 45,702 45,704 Term Asset-Backed Securities Loan Facility 9,110 + 2,731 + 9,110 15,915 Other credit extensions 0 0 0 0 Net portfolio holdings of Commercial Paper Funding Facility LLC (8) 166,926 + 2,186 + 166,926 163,209 Net portfolio holdings of LLCs funded through the Money Market Investor Funding Facility (9) 0 0 0 0 Net portfolio holdings of Maiden Lane LLC (10) 25,675 - 709 + 25,675 25,693 Net portfolio holdings of Maiden Lane II LLC (11) 16,144 - 1,872 + 16,144 16,150 Net portfolio holdings of Maiden Lane III LLC (12) 20,231 - 6,185 + 20,231 20,305 Float -2,120 + 132 - 909 -2,992 Central bank liquidity swaps (13) 246,500 - 2,802 + 194,500 246,838 Other Federal Reserve assets (14) 64,689 + 3,133 + 20,308 67,699 Gold stock 11,041 0 0 11,041 Special drawing rights certificate account 2,200 0 0 2,200 Treasury currency outstanding (15) 42,345 + 14 + 3,582 42,345 Total factors supplying reserve funds 2,172,073 + 75,125 +1,252,979 2,234,964 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 reserve balances of depository institutions at Week ended Change from week ended Wednesday Federal Reserve Banks May 13, 2009 May 6, 2009 May 14, 2008 May 13, 2009 Currency in circulation (15) 904,814 + 964 + 89,054 905,709 Reverse repurchase agreements (16) 68,019 + 1,694 + 28,968 70,894 Foreign official and international accounts 68,019 + 1,694 + 28,968 70,894 Dealers 0 0 0 0 Treasury cash holdings 290 - 18 + 35 291 Deposits with F.R. Banks, other than reserve balances 292,307 - 1,823 + 280,171 281,308 U.S. Treasury, general account 76,059 - 11,024 + 71,402 57,167 U.S. Treasury, supplementary financing account 199,933 + 4 + 199,933 199,933 Foreign official 1,942 + 278 + 1,844 2,547 Service-related 4,339 - 4 - 2,705 4,340 Required clearing balances 4,339 - 4 - 2,704 4,340 Adjustments to compensate for float 0 0 - 1 0 Other 10,034 + 8,924 + 9,698 17,322 Other liabilities and capital (17) 48,344 - 6,890 + 4,033 49,373 Total factors, other than reserve balances, absorbing reserve funds 1,313,773 - 6,074 + 402,260 1,307,577 Reserve balances with Federal Reserve Banks 858,300 + 81,199 + 850,719 927,387 Note: Components may not sum to totals because of rounding. 1. Includes securities lent to dealers under the overnight and term securities lending facilities; 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 through the Primary Dealer Credit Facility and credit extended to certain other broker-dealers. 7. Excludes credit extended to consolidated LLCs. 8. Refer to table 7 and the note on consolidation accompanying table 10. 9. Refer to table 8 and the note on consolidation accompanying table 10. 10. Refer to table 4 and the note on consolidation accompanying table 10. 11. Refer to table 5 and the note on consolidation accompanying table 10. 12. Refer to table 6 and the note on consolidation accompanying table 10. 13. 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. 14. Includes other assets denominated in foreign currencies, which are revalued daily at market exchange rates. 15. Estimated. 16. Cash value of agreements, which are collateralized by U.S. Treasury securities. 17. Includes the liabilities of Commercial Paper Funding Facility LLC, the LLCs funded through the Money Market Investor Funding Facility, Maiden Lane LLC, Maiden Lane II LLC, and Maiden Lane III 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 8 and the note on consolidation accompanying table 10. Sources: Federal Reserve Banks and the U.S. Department of the Treasury. 1A. Memorandum Items Millions of dollars Averages of daily figures Memorandum item Week ended Change from week ended Wednesday May 13, 2009 May 6, 2009 May 14, 2008 May 13, 2009 Marketable securities held in custody for foreign official and international accounts (1) 2,683,641 + 23,485 + 404,967 2,696,945 U.S. Treasury securities 1,867,416 + 18,945 + 518,768 1,879,425 Federal agency securities (2) 816,225 + 4,540 - 113,800 817,520 Securities lent to dealers 38,021 + 186 - 112,520 39,656 Overnight facility (3) 5,471 + 186 - 6,981 7,106 Term facility (4) 32,550 0 - 105,539 32,550 Note: Components may not sum to totals because of rounding. 1. Face value of the securities. Includes U.S. Treasury STRIPS, other zero-coupon bonds, and mortgage-backed securities at face value. 2. Includes debt and mortgage-backed securities. 3. Fully collateralized by U.S. Treasury securities. 4. Fully collateralized by U.S. Treasury securities, federal agency securities, and other highly rated debt securities. 2. Maturity Distribution of Term Auction Credit, Other Loans, and Securities, May 13, 2009 Millions of dollars Remaining maturity Within 15 16 days to 91 days to Over 1 year Over 5 years Over 10 All days 90 days 1 year to 5 years to 10 years years Term auction credit 111,808 317,028 --- --- --- --- 428,835 Other loans (1) 41,005 29,311 113 61,620 --- --- 132,049 U.S. Treasury securities (2) Holdings 25,044 17,240 64,998 229,896 127,416 112,497 577,091 Weekly changes - 3,520 + 3,520 + 2 + 12,962 + 6 + 3,521 + 16,490 Federal agency debt securities (3) Holdings 0 196 4,770 49,829 17,625 535 72,955 Weekly changes 0 0 0 0 + 1,328 + 153 + 1,481 Mortgage-backed securities (4) Holdings 0 0 0 0 0 431,545 431,545 Weekly changes 0 0 0 0 0 + 65,725 + 65,725 Commercial paper held by Commercial Paper Funding Facility LLC (5) 24,514 136,088 0 --- --- --- 160,602 Money market instruments held by LLCs funded through the Money Market Investor Funding Facility (6) 0 0 0 --- --- --- 0 Repurchase agreements (7) 0 0 --- --- --- --- 0 Central bank liquidity swaps (8) 144,251 102,587 0 0 0 0 246,838 Reverse repurchase agreements (7) 70,894 0 --- --- --- --- 70,894 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 Commercial Paper Funding Facility LLC, the LLCs funded through the Money Market Investor Funding Facility, Maiden Lane LLC, Maiden Lane II LLC, and Maiden Lane III 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 commercial paper held by Commercial Paper Funding Facility LLC. 6. Face value of money market instruments held by LLCs funded through the Money Market Investor Funding Facility. 7. Cash value of agreements. 8. 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 Purchase Program Millions of dollars Wednesday Account name May 13, 2009 Mortgage-backed securities held outright (1) 431,545 Commitments to buy mortgage-backed securities (2) 129,753 Commitments to sell mortgage-backed securities (2) 110,730 Cash and cash equivalents (3) 500 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 as well as dollar rolls. 3. This amount is included in other Federal Reserve assets in table 1 and in other assets in table 9 and table 10. 4. Information on Principal Accounts of Maiden Lane LLC Millions of dollars Wednesday Account name May 13, 2009 Net portfolio holdings of Maiden Lane LLC (1) 25,693 Outstanding principal amount of loan extended by the Federal Reserve Bank of New York (2) 28,820 Accrued interest payable to the Federal Reserve Bank of New York (2) 320 Outstanding principal amount and accrued interest on loan payable to JPMorgan Chase & Co. (3) 1,209 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 March 31, 2009. 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 10. 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 9 and table 10. 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 May 13, 2009 Net portfolio holdings of Maiden Lane II LLC (1) 16,150 Outstanding principal amount of loan extended by the Federal Reserve Bank of New York (2) 17,877 Accrued interest payable to the Federal Reserve Bank of New York (2) 128 Deferred payment and accrued interest payable to subsidiaries of American International Group, Inc. (3) 1,015 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 March 31, 2009. 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 10. 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 9 and table 10. 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 May 13, 2009 Net portfolio holdings of Maiden Lane III LLC (1) 20,305 Outstanding principal amount of loan extended by the Federal Reserve Bank of New York (2) 22,992 Accrued interest payable to the Federal Reserve Bank of New York (2) 174 Outstanding principal amount and accrued interest on loan payable to American International Group, Inc. (3) 5,086 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 March 31, 2009. 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 10. 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 9 and table 10. 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 Commercial Paper Funding Facility LLC Millions of dollars Wednesday Account name May 13, 2009 Commercial paper holdings, net (1) 159,666 Other investments, net 3,542 Net portfolio holdings of Commercial Paper Funding Facility LLC 163,209 Memorandum: Commercial paper holdings, face value 160,602 Outstanding principal amount of loan extended by the Federal Reserve Bank of New York (2) 159,612 Accrued interest payable to the Federal Reserve Bank of New York (2) 39 1. Book value, which includes amortized cost and related fees. 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 10. Note: On October 27, 2008, the Federal Reserve Bank of New York began extending loans under the authority of section 13(3) of the Federal Reserve Act to Commercial Paper Funding Facility LLC. This LLC is a limited liability company formed to purchase three-month U.S. dollar-denominated commercial paper from eligible issuers and thereby foster liquidity in short-term funding markets and increase the availability of credit for businesses and households. 8. Information on Principal Accounts of LLCs Funded through the Money Market Investor Funding Facility Millions of dollars Wednesday Account name May 13, 2009 Money market instrument holdings, net (1) 0 Other investments, net 0 Net portfolio holdings of LLCs funded through the Money Market Investor Funding Facility 0 Memorandum: Money market instrument holdings, face value 0 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 Commercial paper issued by LLCs funded through the Money Market Investor Funding Facility, net of related discounts 0 1. Book value, which includes amortized cost. 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 10. Note: The Federal Reserve Board authorized the Federal Reserve Bank of New York to extend credit under the authority of section 13(3) of the Federal Reserve Act to a series of limited liability companies funded through the Money Market Investor Funding Facility (MMIFF). The MMIFF became operational on November 24, 2008. These limited liability companies were established to purchase short-term U.S. dollar-denominated certificates of deposit, bank notes, and outstanding asset-backed commercial paper from eligible issuers. Such purchases are designed to foster liquidity in short-term money markets. 9. Consolidated Statement of Condition of All Federal Reserve Banks Millions of dollars Eliminations Change since from Wednesday Wednesday Wednesday Assets, liabilities, and capital consolidation May 13, 2009 May 6, 2009 May 14, 2008 Assets Gold certificate account 11,037 0 0 Special drawing rights certificate account 2,200 0 0 Coin 1,860 - 41 + 474 Securities, repurchase agreements, term auction credit, and other loans 1,642,476 + 119,971 + 873,915 Securities held outright 1,081,591 + 83,696 + 565,935 U.S. Treasury securities (1) 577,091 + 16,490 + 61,435 Bills (2) 18,423 0 - 31,187 Notes and bonds, nominal (2) 512,770 + 16,465 + 90,954 Notes and bonds, inflation-indexed (2) 41,253 0 + 2,082 Inflation compensation (3) 4,645 + 25 - 414 Federal agency debt securities (2) 72,955 + 1,481 + 72,955 Mortgage-backed securities (4) 431,545 + 65,725 + 431,545 Repurchase agreements (5) 0 0 - 100,000 Term auction credit 428,835 + 25,262 + 303,835 Other loans 132,049 + 11,012 + 104,144 Net portfolio holdings of Commercial Paper Funding Facility LLC (6) 163,209 - 5,271 + 163,209 Net portfolio holdings of LLCs funded through the Money Market Investor Funding Facility (7) 0 0 0 Net portfolio holdings of Maiden Lane LLC (8) 25,693 + 21 + 25,693 Net portfolio holdings of Maiden Lane II LLC (9) 16,150 + 7 + 16,150 Net portfolio holdings of Maiden Lane III LLC (10) 20,305 + 86 + 20,305 Items in process of collection (532) 360 - 555 - 1,922 Bank premises 2,194 0 + 47 Central bank liquidity swaps (11) 246,838 - 2,464 + 194,838 Other assets (12) 65,514 + 4,826 + 23,532 Total assets (532) 2,197,835 + 116,578 +1,316,241 Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table. 9. Consolidated Statement of Condition of All Federal Reserve Banks (continued) Millions of dollars Eliminations Change since from Wednesday Wednesday Wednesday Assets, liabilities, and capital consolidation May 13, 2009 May 6, 2009 May 14, 2008 Liabilities Federal Reserve notes, net of F.R. Bank holdings 865,511 - 358 + 84,722 Reverse repurchase agreements (13) 70,894 + 5,750 + 31,780 Deposits (0) 1,208,705 + 109,901 +1,193,746 Depository institutions 931,737 + 106,114 + 921,163 U.S. Treasury, general account 57,167 - 13,516 + 53,147 U.S. Treasury, supplementary financing account 199,933 + 4 + 199,933 Foreign official 2,547 + 1,337 + 2,450 Other (0) 17,322 + 15,963 + 17,054 Deferred availability cash items (532) 3,351 - 807 + 722 Other liabilities and accrued dividends (14) 6,281 + 350 + 2,705 Total liabilities (532) 2,154,743 + 114,837 +1,313,677 Capital accounts Capital paid in 22,938 - 63 + 3,077 Surplus 18,141 + 894 - 338 Other capital accounts 2,013 + 910 - 176 Total capital 43,092 + 1,741 + 2,564 Note: Components may not sum to totals because of rounding. 1. Includes securities lent to dealers under the overnight and term securities lending facilities; 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 7 and the note on consolidation accompanying table 10. 7. Refer to table 8 and the note on consolidation accompanying table 10. 8. Refer to table 4 and the note on consolidation accompanying table 10. 9. Refer to table 5 and the note on consolidation accompanying table 10. 10. Refer to table 6 and the note on consolidation accompanying table 10. 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. 13. Cash value of agreements, which are collateralized by U.S. Treasury securities. 14. Includes the liabilities of Commercial Paper Funding Facility LLC, the LLCs funded through the Money Market Investor Funding Facility, Maiden Lane LLC, Maiden Lane II LLC, and Maiden Lane III 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 8 and the note on consolidation accompanying table 10. 10. Statement of Condition of Each Federal Reserve Bank, May 13, 2009 Millions of dollars Kansas San Assets, liabilities, and capital Total Boston New York Philadelphia Cleveland Richmond Atlanta Chicago St. Louis Minneapolis City Dallas Francisco Assets Gold certificate account 11,037 412 3,895 450 467 882 1,356 911 329 197 335 621 1,182 Special drawing rights certificate acct. 2,200 115 874 83 104 147 166 212 71 30 66 98 234 Coin 1,860 70 86 155 153 247 210 228 38 64 132 181 296 Securities, repurchase agreements, term auction credit, and other loans 1,642,476 64,195 756,148 41,025 49,725 125,851 147,066 124,828 46,153 18,903 51,149 56,934 160,499 Securities held outright 1,081,591 20,748 422,768 16,780 42,732 38,977 130,317 117,040 42,373 17,906 48,822 52,296 130,833 U.S. Treasury securities (1) 577,091 11,070 225,571 8,953 22,800 20,797 69,532 62,447 22,608 9,554 26,049 27,903 69,807 Bills (2) 18,423 353 7,201 286 728 664 2,220 1,994 722 305 832 891 2,228 Notes and bonds (3) 558,669 10,717 218,370 8,667 22,072 20,133 67,312 60,454 21,886 9,249 25,218 27,012 67,578 Federal agency debt securities (2) 72,955 1,400 28,516 1,132 2,882 2,629 8,790 7,895 2,858 1,208 3,293 3,527 8,825 Mortgage-backed securities (4) 431,545 8,278 168,680 6,695 17,050 15,552 51,995 46,698 16,906 7,144 19,480 20,866 52,201 Repurchase agreements (5) 0 0 0 0 0 0 0 0 0 0 0 0 0 Term auction credit 428,835 14,642 234,882 24,099 6,988 86,160 16,453 5,964 3,704 748 2,309 4,455 28,433 Other loans 132,049 28,805 98,498 146 6 714 296 1,824 77 249 17 183 1,233 Net portfolio holdings of Commercial Paper Funding Facility LLC (6) 163,209 0 163,209 0 0 0 0 0 0 0 0 0 0 Net portfolio holdings of LLCs funded through the Money Market Investor Funding Facility (7) 0 0 0 0 0 0 0 0 0 0 0 0 0 Net portfolio holdings of Maiden Lane LLC (8) 25,693 0 25,693 0 0 0 0 0 0 0 0 0 0 Net portfolio holdings of Maiden Lane II LLC (9) 16,150 0 16,150 0 0 0 0 0 0 0 0 0 0 Net portfolio holdings of Maiden Lane III LLC (10) 20,305 0 20,305 0 0 0 0 0 0 0 0 0 0 Items in process of collection 892 28 0 244 91 88 15 1 170 56 21 82 96 Bank premises 2,194 122 215 66 146 235 222 207 135 112 271 249 213 Central bank liquidity swaps (11) 246,838 10,286 58,382 28,205 18,910 72,858 19,635 8,570 2,555 3,952 2,533 3,301 17,651 Other assets (12) 65,514 1,798 22,593 3,351 3,410 8,574 6,769 5,152 1,852 1,071 2,076 2,295 6,571 Interdistrict settlement account 0 + 16,062 - 1,287 - 11,645 + 3,260 + 47,188 - 23,928 - 35,373 - 14,899 - 2,186 - 3,535 - 2,860 + 29,203 Total assets 2,198,367 93,089 1,066,264 61,934 76,266 256,070 151,511 104,738 36,404 22,198 53,048 60,901 215,945 Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table. 10. Statement of Condition of Each Federal Reserve Bank, May 13, 2009 (continued) Millions of dollars Kansas San Assets, liabilities, and capital Total Boston New York Philadelphia Cleveland Richmond Atlanta Chicago St. Louis Minneapolis City Dallas Francisco Liabilities Federal Reserve notes outstanding 1,050,976 36,803 373,727 40,317 45,231 79,247 133,625 87,651 31,325 20,115 29,054 63,085 110,797 Less: Notes held by F.R. Banks 185,464 4,722 59,261 5,129 7,780 12,294 28,923 12,895 4,036 3,051 3,493 19,055 24,826 Federal Reserve notes, net 865,511 32,081 314,466 35,189 37,451 66,953 104,701 74,756 27,290 17,064 25,561 44,029 85,971 Reverse repurchase agreements (13) 70,894 1,360 27,711 1,100 2,801 2,555 8,542 7,672 2,777 1,174 3,200 3,428 8,576 Deposits 1,208,705 57,530 711,433 19,885 32,120 172,907 34,155 19,842 5,437 2,578 23,483 12,369 116,967 Depository institutions 931,737 57,520 434,612 19,880 32,116 172,793 34,151 19,840 5,432 2,577 23,481 12,369 116,964 U.S. Treasury, general account 57,167 0 57,167 0 0 0 0 0 0 0 0 0 0 U.S. Treasury, supplementary financing account 199,933 0 199,933 0 0 0 0 0 0 0 0 0 0 Foreign official 2,547 2 2,518 4 3 11 3 1 0 1 0 1 3 Other 17,322 8 17,203 0 1 103 0 0 5 0 1 0 0 Deferred availability cash items 3,883 110 0 723 418 150 315 406 202 322 198 271 767 Other liabilities and accrued dividends (14) 6,281 136 3,611 175 203 477 394 333 167 113 134 187 352 Total liabilities 2,155,275 91,216 1,057,221 57,072 72,993 243,042 148,106 103,008 35,873 21,250 52,575 60,285 212,633 Capital Capital paid in 22,938 912 6,371 2,410 1,591 6,531 1,562 793 240 486 206 273 1,565 Surplus 18,141 844 2,672 2,316 1,552 5,981 1,612 704 210 324 208 271 1,449 Other capital 2,013 117 0 137 130 516 231 233 81 138 59 72 298 Total liabilities and capital 2,198,367 93,089 1,066,264 61,934 76,266 256,070 151,511 104,738 36,404 22,198 53,048 60,901 215,945 Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table. 10. Statement of Condition of Each Federal Reserve Bank, May 13, 2009 (continued) 1. Includes securities lent to dealers under the overnight and term securities lending facilities; 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 7 and the note on consolidation below. 7. Refer to table 8 and the note on consolidation below. 8. Refer to table 4 and the note on consolidation below. 9. Refer to table 5 and the note on consolidation below. 10. Refer to table 6 and the note on consolidation below. 11. Dollar value of foreign currency held under these agreements valued at the exchange rate to be used when the foreign currency is returned to the foreign central bank. This exchange rate equals the market exchange rate used when the foreign currency was acquired from the foreign central bank. 12. Includes other assets denominated in foreign currencies, which are revalued daily at market exchange rates. 13. Cash value of agreements, which are collateralized by U.S. Treasury securities. 14. Includes the liabilities of Commercial Paper Funding Facility LLC, the LLCs funded through the Money Market Investor Funding Facility, Maiden Lane LLC, Maiden Lane II LLC, and Maiden Lane III 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 8 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 October 27, 2008, the FRBNY began extending loans to Commercial Paper Funding Facility LLC, which was formed to purchase three-month U.S. dollar-denominated commercial paper from eligible issuers. On October 21, 2008, the Federal Reserve Board authorized the FRBNY to extend credit to a series of LLCs funded through the Money Market Investor Funding Facility. These LLCs, which became operational on November 24, 2008, were established to purchase short-term U.S. dollar-denominated certificates of deposit, bank notes, and commercial paper from eligible issuers. 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. The FRBNY is the sole beneficiary of Commercial Paper Funding Facility LLC and the primary beneficiary of the other LLCs cited above. 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 9), 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 9). 11. Collateral Held against Federal Reserve Notes: Federal Reserve Agents' Accounts Millions of dollars Federal Reserve notes and collateral Wednesday May 13, 2009 Federal Reserve notes outstanding 1,050,976 Less: Notes held by F.R. Banks not subject to collateralization 185,464 Federal Reserve notes to be collateralized 865,511 Collateral held against Federal Reserve notes 865,511 Gold certificate account 11,037 Special drawing rights certificate account 2,200 U.S. Treasury, agency debt, and mortgage-backed securities pledged (1,2) 852,275 Other assets pledged 0 Memo: Total U.S. Treasury, agency debt, and mortgage-backed securities (1,2) 1,081,591 Less: Face value of securities under reverse repurchase agreements 66,652 U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 1,014,939 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 and term securities lending facilities; refer to table 1A.