FEDERAL RESERVE statistical release H.4.1 Factors Affecting Reserve Balances of Depository Institutions and Condition Statement of Federal Reserve Banks February 4, 2010 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 Feb 3, 2010 Federal Reserve Banks Feb 3, 2010 Jan 27, 2010 Feb 4, 2009 Reserve Bank credit 2,231,377 - 3,299 + 390,940 2,231,347 Securities held outright (1) 1,910,885 - 1,805 +1,399,445 1,911,604 U.S. Treasury securities 776,620 + 4 + 301,586 776,614 Bills (2) 18,423 0 0 18,423 Notes and bonds, nominal (2) 708,872 0 + 295,958 708,872 Notes and bonds, inflation-indexed (2) 43,777 0 + 4,399 43,777 Inflation compensation (3) 5,549 + 5 + 1,229 5,542 Federal agency debt securities (2) 164,097 + 1,264 + 135,068 164,662 Mortgage-backed securities (4) 970,168 - 3,073 + 962,791 970,327 Repurchase agreements (5) 0 0 0 0 Term auction credit 38,531 0 - 374,352 38,531 Other loans 88,989 + 1,614 - 64,703 88,301 Primary credit 14,767 - 88 - 52,659 14,708 Secondary credit 964 - 21 + 959 900 Seasonal credit 1 + 1 - 1 2 Primary dealer and other broker-dealer credit (6) 0 0 - 30,264 0 Asset-Backed Commercial Paper Money Market Mutual Fund Liquidity Facility 0 0 - 16,981 0 Credit extended to American International Group, Inc., net (7) 25,934 + 1,494 - 13,079 25,662 Term Asset-Backed Securities Loan Facility, net (8) 47,322 + 228 + 47,322 47,029 Other credit extensions 0 0 0 0 Net portfolio holdings of Commercial Paper Funding Facility LLC (9) 8,664 - 2,535 - 250,651 8,668 Net portfolio holdings of Maiden Lane LLC (10) 26,788 + 27 + 1,003 26,822 Net portfolio holdings of Maiden Lane II LLC (11) 15,497 + 71 - 3,468 15,498 Net portfolio holdings of Maiden Lane III LLC (12) 22,497 + 25 - 4,967 22,554 Net portfolio holdings of TALF LLC (13) 334 + 5 + 334 334 Preferred interests in AIA Aurora LLC and ALICO Holdings LLC (14) 25,106 0 + 25,106 25,106 Float -1,969 + 14 - 173 -2,267 Central bank liquidity swaps (15) 100 - 75 - 388,691 100 Other Federal Reserve assets (16) 95,955 - 640 + 52,055 96,097 Gold stock 11,041 0 0 11,041 Special drawing rights certificate account 5,200 0 + 3,000 5,200 Treasury currency outstanding (17) 42,754 + 14 + 644 42,754 Total factors supplying reserve funds 2,290,371 - 3,286 + 394,583 2,290,341 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 Feb 3, 2010 Federal Reserve Banks Feb 3, 2010 Jan 27, 2010 Feb 4, 2009 Currency in circulation (17) 919,425 + 1,490 + 30,512 923,786 Reverse repurchase agreements (18) 57,229 - 98 - 18,806 53,720 Foreign official and international accounts 57,229 - 98 - 18,806 53,720 Dealers 0 0 0 0 Treasury cash holdings 229 - 19 - 64 205 Deposits with F.R. Banks, other than reserve balances 121,633 - 25,244 - 98,227 134,874 U.S. Treasury, general account 109,506 - 25,532 + 67,589 122,517 U.S. Treasury, supplementary financing account 5,001 0 - 164,961 5,001 Foreign official 3,977 + 404 + 3,814 4,228 Service-related 2,755 - 6 - 1,674 2,755 Required clearing balances 2,755 - 6 - 1,674 2,755 Adjustments to compensate for float 0 0 0 0 Other 394 - 111 - 2,995 372 Other liabilities and capital (19) 65,136 - 1,589 + 16,029 64,290 Total factors, other than reserve balances, absorbing reserve funds 1,163,652 - 25,461 - 70,557 1,176,874 Reserve balances with Federal Reserve Banks 1,126,719 + 22,175 + 465,140 1,113,467 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. Includes outstanding principal and capitalized interest net of unamortized deferred commitment fees and allowance for loan restructuring. Excludes credit extended to consolidated LLCs. 8. Includes credit extended by the Federal Reserve Bank of New York to eligible borrowers through the Term Asset-Backed Securities Loan Facility, net of unamortized deferred administrative fees. 9. Refer to table 7 and the note on consolidation accompanying table 11. 10. Refer to table 4 and the note on consolidation accompanying table 11. 11. Refer to table 5 and the note on consolidation accompanying table 11. 12. Refer to table 6 and the note on consolidation accompanying table 11. 13. Refer to table 8 and the note on consolidation accompanying table 11. 14. Refer to table 9. 15. 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. 16. Includes other assets denominated in foreign currencies, which are revalued daily at market exchange rates, and accrued dividends on the Federal Reserve Bank of New York's preferred interests in AIA Aurora LLC and ALICO Holdings LLC. 17. Estimated. 18. Cash value of agreements, which are collateralized by U.S. Treasury securities and federal agency debt securities. 19. Includes the liabilities of Commercial Paper Funding Facility LLC, 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 8 and the note on consolidation accompanying table 11. 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 Feb 3, 2010 Memorandum item Feb 3, 2010 Jan 27, 2010 Feb 4, 2009 Marketable securities held in custody for foreign official and international accounts (1) 2,946,860 - 1,253 + 392,205 2,947,833 U.S. Treasury securities 2,180,416 + 952 + 445,818 2,183,864 Federal agency securities (2) 766,443 - 2,207 - 53,615 763,969 Securities lent to dealers 5,775 + 892 - 121,219 4,971 Overnight facility (3) 5,775 + 892 - 589 4,971 U.S. Treasury securities 5,075 + 692 - 1,289 4,486 Federal agency debt securities 700 + 200 + 700 485 Term facility (4) 0 0 - 120,630 0 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. U.S. Treasury securities only. 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, February 3, 2010 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 Term auction credit 38,531 0 ... ... ... ... 38,531 Other loans (1) 15,171 439 0 72,691 0 ... 88,301 U.S. Treasury securities (2) Holdings 21,234 22,799 45,689 326,326 215,298 145,268 776,614 Weekly changes + 4,670 - 3,841 - 521 - 831 + 520 - 2 - 5 Federal agency debt securities (3) Holdings 1,523 2,399 23,488 100,545 34,360 2,347 164,662 Weekly changes + 710 + 81 - 791 0 + 989 0 + 989 Mortgage-backed securities (4) Holdings 0 0 0 0 0 970,327 970,327 Weekly changes 0 0 0 0 0 + 599 + 599 Commercial paper held by Commercial Paper Funding Facility LLC (5) 977 2,966 0 ... ... ... 3,943 Asset-backed securities held by TALF LLC (6) 0 0 0 0 0 0 0 Repurchase agreements (7) 0 0 ... ... ... ... 0 Central bank liquidity swaps (8) 100 0 0 0 0 0 100 Reverse repurchase agreements (7) 53,720 0 ... ... ... ... 53,720 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, 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 commercial paper held by Commercial Paper Funding Facility LLC. 6. Face value of asset-backed securities held by TALF LLC, which is the remaining principal balance of the underlying assets. 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 Feb 3, 2010 Mortgage-backed securities held outright (1) 970,327 Commitments to buy mortgage-backed securities (2) 152,187 Commitments to sell mortgage-backed securities (2) 7,625 Cash and cash equivalents (3) 313 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 10 and table 11. 4. Information on Principal Accounts of Maiden Lane LLC Millions of dollars Wednesday Account name Feb 3, 2010 Net portfolio holdings of Maiden Lane LLC (1) 26,822 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) 427 Outstanding principal amount and accrued interest on loan payable to JPMorgan Chase & Co. (3) 1,254 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, 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 11. 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 10 and table 11. 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 Feb 3, 2010 Net portfolio holdings of Maiden Lane II LLC (1) 15,498 Outstanding principal amount of loan extended by the Federal Reserve Bank of New York (2) 15,479 Accrued interest payable to the Federal Reserve Bank of New York (2) 284 Deferred payment and accrued interest payable to subsidiaries of American International Group, Inc. (3) 1,040 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, 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 11. 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 10 and table 11. 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 Feb 3, 2010 Net portfolio holdings of Maiden Lane III LLC (1) 22,554 Outstanding principal amount of loan extended by the Federal Reserve Bank of New York (2) 17,743 Accrued interest payable to the Federal Reserve Bank of New York (2) 361 Outstanding principal amount and accrued interest on loan payable to American International Group, Inc. (3) 5,209 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 September 30, 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 11. 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 10 and table 11. 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 Feb 3, 2010 Commercial paper holdings, net (1) 3,799 Other investments, net 4,869 Net portfolio holdings of Commercial Paper Funding Facility LLC 8,668 Memorandum: Commercial paper holdings, face value 3,943 Outstanding principal amount of loan extended by the Federal Reserve Bank of New York (2) 3,911 Accrued interest payable to the Federal Reserve Bank of New York (2) 1 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 11. 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 TALF LLC Millions of dollars Wednesday Account name Feb 3, 2010 Asset-backed securities holdings (1) 0 Other investments, net 334 Net portfolio holdings of TALF LLC 334 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) 103 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 11. 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 10 and table 11. 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 $20 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. 9. Supplemental Information on the Federal Reserve Bank of New York's Preferred Interests in AIA Aurora LLC and ALICO Holdings LLC Millions of dollars Wednesday Account name Feb 3, 2010 Preferred interests in AIA Aurora LLC and ALICO Holdings LLC (1) 25,106 Accrued dividends on preferred interests in AIA Aurora LLC and ALICO Holdings LLC (2) 117 Preferred interests in AIA Aurora LLC (1) 16,068 Accrued dividends on preferred interests in AIA Aurora LLC (2) 75 Preferred interests in ALICO Holdings LLC (1) 9,038 Accrued dividends on preferred interests in ALICO Holdings LLC (2) 42 Note: Components may not sum to totals because of rounding. 1. Book value. 2. This amount is included in other Federal Reserve assets in table 1 and in other assets in table 10 and table 11. Note on preferred interests: In conjunction with the restructuring of the government's assistance to American International Group, Inc. (AIG) announced March 2, 2009, the outstanding balance and amount available of revolving credit provided to AIG by the FRBNY has been reduced in exchange for preferred interests in two special purpose vehicles, AIA Aurora LLC and ALICO Holdings LLC. These two limited liability companies were created to directly or indirectly hold all of the outstanding common stock of American International Assurance Company Ltd. (AIA) and American Life Insurance Company (ALICO), two life insurance subsidiaries of AIG. AIG will retain control of AIA Aurora LLC and ALICO Holdings LLC, and the FRBNY will have certain consent, disposition, and conversion rights with respect to its preferred interests. Dividends accrue as a percentage of the FRBNY's preferred interests in AIA Aurora LLC and ALICO Holdings LLC. On a quarterly basis, the accrued dividends are capitalized and added to the FRBNY's preferred interests in AIA Aurora LLC and ALICO Holdings LLC. 10. Consolidated Statement of Condition of All Federal Reserve Banks Millions of dollars Eliminations from Wednesday Change since consolidation Feb 3, 2010 Wednesday Wednesday Assets, liabilities, and capital Jan 27, 2010 Feb 4, 2009 Assets Gold certificate account 11,037 0 0 Special drawing rights certificate account 5,200 0 + 3,000 Coin 2,232 + 2 + 317 Securities, repurchase agreements, term auction credit, and other loans 2,038,435 + 1,978 + 964,249 Securities held outright (1) 1,911,604 + 1,584 +1,399,330 U.S. Treasury securities 776,614 - 5 + 301,632 Bills (2) 18,423 0 0 Notes and bonds, nominal (2) 708,872 0 + 295,958 Notes and bonds, inflation-indexed (2) 43,777 0 + 4,399 Inflation compensation (3) 5,542 - 5 + 1,274 Federal agency debt securities (2) 164,662 + 989 + 134,747 Mortgage-backed securities (4) 970,327 + 599 + 962,950 Repurchase agreements (5) 0 0 0 Term auction credit 38,531 0 - 374,352 Other loans 88,301 + 395 - 60,729 Net portfolio holdings of Commercial Paper Funding Facility LLC (6) 8,668 + 13 - 249,996 Net portfolio holdings of Maiden Lane LLC (7) 26,822 + 44 + 962 Net portfolio holdings of Maiden Lane II LLC (8) 15,498 + 5 - 3,470 Net portfolio holdings of Maiden Lane III LLC (9) 22,554 + 72 - 4,956 Net portfolio holdings of TALF LLC (10) 334 0 + 334 Preferred interests in AIA Aurora LLC and ALICO Holdings LLC (11) 25,106 0 + 25,106 Items in process of collection (234) 474 + 165 - 425 Bank premises 2,238 - 7 + 58 Central bank liquidity swaps (12) 100 - 75 - 387,348 Other assets (13) 93,896 + 233 + 51,862 Total assets (234) 2,252,595 + 2,431 + 399,694 Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table. 10. Consolidated Statement of Condition of All Federal Reserve Banks (continued) Millions of dollars Eliminations from Wednesday Change since consolidation Feb 3, 2010 Wednesday Wednesday Assets, liabilities, and capital Jan 27, 2010 Feb 4, 2009 Liabilities Federal Reserve notes, net of F.R. Bank holdings 883,465 + 5,090 + 31,167 Reverse repurchase agreements (14) 53,720 - 4,074 - 20,531 Deposits (0) 1,248,379 + 2,036 + 374,892 Depository institutions 1,116,260 + 5,523 + 469,264 U.S. Treasury, general account 122,517 - 4,255 + 74,809 U.S. Treasury, supplementary financing account 5,001 0 - 164,961 Foreign official 4,228 + 762 + 4,124 Other (0) 372 + 5 - 8,345 Deferred availability cash items (234) 2,742 + 325 - 628 Other liabilities and accrued dividends (15) 12,290 - 574 + 3,756 Total liabilities (234) 2,200,595 + 2,802 + 388,655 Capital accounts Capital paid in 25,672 + 4 + 3,978 Surplus 25,207 - 87 + 6,001 Other capital accounts 1,121 - 287 + 1,059 Total capital 52,000 - 371 + 11,038 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 11. 7. Refer to table 4 and the note on consolidation accompanying table 11. 8. Refer to table 5 and the note on consolidation accompanying table 11. 9. Refer to table 6 and the note on consolidation accompanying table 11. 10. Refer to table 8 and the note on consolidation accompanying table 11. 11. Refer to table 9. 12. 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. 13. Includes other assets denominated in foreign currencies, which are revalued daily at market exchange rates, and accrued dividends on the Federal Reserve Bank of New York's preferred interests in AIA Aurora LLC and ALICO Holdings LLC. 14. Cash value of agreements, which are collateralized by U.S. Treasury securities and federal agency debt securities. 15. Includes the liabilities of Commercial Paper Funding Facility LLC, 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 8 and the note on consolidation accompanying table 11. 11. Statement of Condition of Each Federal Reserve Bank, February 3, 2010 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 11,037 412 3,895 450 467 882 1,356 911 329 197 335 621 1,182 Special drawing rights certificate acct. 5,200 196 1,818 210 237 412 654 424 150 90 153 282 574 Coin 2,232 72 83 176 168 318 227 331 39 68 150 238 363 Securities, repurchase agreements, term auction credit, and other loans 2,038,435 38,819 863,275 30,320 75,715 69,518 230,818 208,891 75,313 31,919 86,727 92,970 234,150 Securities held outright (1) 1,911,604 36,670 747,199 29,657 75,524 68,889 230,322 206,856 74,889 31,647 86,288 92,429 231,234 U.S. Treasury securities 776,614 14,898 303,559 12,048 30,682 27,987 93,571 84,038 30,425 12,857 35,056 37,550 93,942 Bills (2) 18,423 353 7,201 286 728 664 2,220 1,994 722 305 832 891 2,228 Notes and bonds (3) 758,191 14,544 296,358 11,763 29,955 27,323 91,352 82,044 29,703 12,552 34,224 36,660 91,713 Federal agency debt securities (2) 164,662 3,159 64,362 2,555 6,505 5,934 19,840 17,818 6,451 2,726 7,433 7,962 19,918 Mortgage-backed securities (4) 970,327 18,614 379,277 15,054 38,336 34,968 116,911 105,000 38,014 16,064 43,800 46,917 117,374 Repurchase agreements (5) 0 0 0 0 0 0 0 0 0 0 0 0 0 Term auction credit 38,531 2,025 28,711 563 189 460 388 1,725 395 239 438 540 2,858 Other loans 88,301 124 87,365 101 3 170 108 309 28 32 1 2 58 Net portfolio holdings of Commercial Paper Funding Facility LLC (6) 8,668 0 8,668 0 0 0 0 0 0 0 0 0 0 Net portfolio holdings of Maiden Lane LLC (7) 26,822 0 26,822 0 0 0 0 0 0 0 0 0 0 Net portfolio holdings of Maiden Lane II LLC (8) 15,498 0 15,498 0 0 0 0 0 0 0 0 0 0 Net portfolio holdings of Maiden Lane III LLC (9) 22,554 0 22,554 0 0 0 0 0 0 0 0 0 0 Net portfolio holdings of TALF LLC (10) 334 0 334 0 0 0 0 0 0 0 0 0 0 Preferred interests in AIA Aurora LLC and ALICO Holdings LLC (11) 25,106 0 25,106 0 0 0 0 0 0 0 0 0 0 Items in process of collection 708 12 0 52 166 7 310 25 9 36 23 39 30 Bank premises 2,238 121 261 70 144 237 221 206 135 110 267 252 213 Central bank liquidity swaps (12) 100 4 29 11 7 28 6 2 1 3 1 1 7 Other assets (13) 93,896 2,277 34,168 3,845 4,585 9,622 9,781 7,954 2,932 1,854 3,294 3,668 9,915 Interdistrict settlement account 0 + 5,139 + 162,410 + 40,154 - 22,455 + 183,690 - 92,695 - 98,943 - 37,386 - 10,496 - 35,249 - 27,121 - 67,049 Total assets 2,252,828 47,051 1,164,921 75,288 59,035 264,714 150,679 119,801 41,522 23,781 55,701 70,952 179,385 Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table. 11. Statement of Condition of Each Federal Reserve Bank, February 3, 2010 (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 1,079,845 35,522 396,999 38,241 44,585 82,080 137,366 85,143 32,813 19,406 28,710 62,882 116,098 Less: Notes held by F.R. Banks 196,381 4,739 69,883 6,096 8,142 10,814 33,400 12,618 4,210 2,798 3,441 12,684 27,556 Federal Reserve notes, net 883,465 30,784 327,116 32,145 36,443 71,266 103,966 72,526 28,603 16,608 25,269 50,198 88,542 Reverse repurchase agreements (14) 53,720 1,031 20,998 833 2,122 1,936 6,472 5,813 2,105 889 2,425 2,597 6,498 Deposits 1,248,379 13,085 792,847 36,458 15,526 176,915 35,985 39,341 9,993 4,442 27,154 16,914 79,718 Depository institutions 1,116,260 13,073 660,918 36,454 15,523 176,767 35,983 39,333 9,992 4,440 27,153 16,913 79,711 U.S. Treasury, general account 122,517 0 122,517 0 0 0 0 0 0 0 0 0 0 U.S. Treasury, supplementary financing account 5,001 0 5,001 0 0 0 0 0 0 0 0 0 0 Foreign official 4,228 1 4,200 4 3 11 2 1 0 1 0 1 3 Other 373 11 211 0 0 136 0 8 1 0 1 0 4 Deferred availability cash items 2,975 86 0 307 815 86 286 189 55 269 150 189 544 Other liabilities and accrued dividends (15) 12,290 174 8,512 181 271 457 634 563 240 140 235 296 588 Total liabilities 2,200,829 45,158 1,149,473 69,924 55,178 250,660 147,343 118,432 40,996 22,348 55,233 70,195 175,890 Capital Capital paid in 25,672 944 7,442 2,802 1,921 7,140 1,600 622 240 712 208 352 1,688 Surplus 25,207 944 7,474 2,562 1,910 6,914 1,581 620 240 712 210 353 1,687 Other capital 1,121 4 533 0 26 0 155 127 46 9 49 52 119 Total liabilities and capital 2,252,828 47,051 1,164,921 75,288 59,035 264,714 150,679 119,801 41,522 23,781 55,701 70,952 179,385 Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table. 11. Statement of Condition of Each Federal Reserve Bank, February 3, 2010 (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 4 and the note on consolidation below. 8. Refer to table 5 and the note on consolidation below. 9. Refer to table 6 and the note on consolidation below. 10. Refer to table 8 and the note on consolidation below. 11. Refer to table 9. 12. 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. 13. Includes other assets denominated in foreign currencies, which are revalued daily at market exchange rates, and accrued dividends on the Federal Reserve Bank of New York's preferred interests in AIA Aurora LLC and ALICO Holdings LLC. 14. Cash value of agreements, which are collateralized by U.S. Treasury securities and federal agency debt securities. 15. Includes the liabilities of Commercial Paper Funding Facility LLC, 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 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 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 sole beneficiary of Commercial Paper Funding Facility LLC. 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 10), 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 10). 12. Collateral Held against Federal Reserve Notes: Federal Reserve Agents' Accounts Millions of dollars Wednesday Federal Reserve notes and collateral Feb 3, 2010 Federal Reserve notes outstanding 1,079,845 Less: Notes held by F.R. Banks not subject to collateralization 196,381 Federal Reserve notes to be collateralized 883,465 Collateral held against Federal Reserve notes 883,465 Gold certificate account 11,037 Special drawing rights certificate account 5,200 U.S. Treasury, agency debt, and mortgage-backed securities pledged (1,2) 867,228 Other assets pledged 0 Memo: Total U.S. Treasury, agency debt, and mortgage-backed securities (1,2) 1,911,604 Less: Face value of securities under reverse repurchase agreements 53,069 U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 1,858,534 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.