FEDERAL RESERVE statistical release H.4.1 Factors Affecting Reserve Balances of Depository Institutions and Condition Statement of Federal Reserve Banks May 19, 2011 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 May 18, 2011 Federal Reserve Banks May 18, 2011 May 11, 2011 May 19, 2010 Reserve Bank credit 2,739,486 + 26,410 + 400,074 2,742,438 Securities held outright (1) 2,532,391 + 29,082 + 466,862 2,539,503 U.S. Treasury securities 1,483,595 + 32,426 + 706,776 1,495,166 Bills (2) 18,423 0 0 18,423 Notes and bonds, nominal (2) 1,397,662 + 31,806 + 685,639 1,407,998 Notes and bonds, inflation-indexed (2) 59,975 + 411 + 18,850 61,004 Inflation compensation (3) 7,535 + 208 + 2,288 7,742 Federal agency debt securities (2) 123,249 - 1,869 - 44,498 120,758 Mortgage-backed securities (4) 925,546 - 1,475 - 195,417 923,579 Repurchase agreements (5) 0 0 0 0 Loans 15,018 - 706 - 61,214 14,980 Primary credit 3 - 1 - 5,111 5 Secondary credit 0 0 - 400 0 Seasonal credit 18 + 1 - 26 17 Credit extended to American International Group, Inc., net (6) 0 0 - 26,176 0 Term Asset-Backed Securities Loan Facility (7) 14,998 - 705 - 29,499 14,958 Other credit extensions 0 0 0 0 Net portfolio holdings of Commercial Paper Funding Facility LLC (8) 0 0 - 2 0 Net portfolio holdings of Maiden Lane LLC (9) 24,463 - 336 - 3,806 24,419 Net portfolio holdings of Maiden Lane II LLC (10) 14,984 + 12 - 858 14,984 Net portfolio holdings of Maiden Lane III LLC (11) 24,411 - 213 + 1,048 24,374 Net portfolio holdings of TALF LLC (12) 733 0 + 294 733 Preferred interests in AIA Aurora LLC and ALICO Holdings LLC (6) 0 0 - 25,416 0 Float -997 - 44 + 897 -1,018 Central bank liquidity swaps (13) 0 0 - 9,205 0 Other Federal Reserve assets (14) 128,483 - 1,386 + 31,473 124,463 Gold stock 11,041 0 0 11,041 Special drawing rights certificate account 5,200 0 0 5,200 Treasury currency outstanding (15) 43,874 + 14 + 786 43,874 Total factors supplying reserve funds 2,799,601 + 26,424 + 400,860 2,802,553 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 May 18, 2011 Federal Reserve Banks May 18, 2011 May 11, 2011 May 19, 2010 Currency in circulation (15) 1,017,282 + 255 + 79,464 1,017,923 Reverse repurchase agreements (16) 55,630 - 745 - 696 57,426 Foreign official and international accounts 55,630 - 745 - 696 57,426 Others 0 0 0 0 Treasury cash holdings 148 - 3 - 39 140 Deposits with F.R. Banks, other than reserve balances 105,763 - 2,861 - 132,752 117,687 Term deposits held by depository institutions 0 0 0 0 U.S. Treasury, general account 91,448 - 8,145 + 70,289 109,620 U.S. Treasury, supplementary financing account 5,000 0 - 194,959 5,000 Foreign official 148 + 12 - 1,456 125 Service-related 2,546 0 - 117 2,546 Required clearing balances 2,546 0 - 117 2,546 Adjustments to compensate for float 0 0 0 0 Other 6,622 + 5,273 - 6,508 396 Funds from American International Group, Inc. asset dispositions, held as agent (6) 0 0 0 0 Other liabilities and capital (17) 73,518 - 413 + 163 73,208 Total factors, other than reserve balances, absorbing reserve funds 1,252,342 - 3,766 - 53,859 1,266,384 Reserve balances with Federal Reserve Banks 1,547,259 + 30,190 + 454,719 1,536,168 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. As a result of the closing of the American International Group, Inc. (AIG) recapitalization plan on January 14, 2011, the credit extended to AIG was fully repaid and the Federal Reserve's commitment to lend any further funds was terminated. In addition, the Federal Reserve Bank of New York (FRBNY) has been paid in full for its preferred interests in AIA Aurora LLC and ALICO Holdings LLC. The funds from AIG asset dispositions that FRBNY held as agent were the source of repayment of the credit extended to AIG, as well as a portion of the FRBNY's preferred interests in ALICO Holdings LLC. The remaining FRBNY preferred interests in ALICO Holdings LLC and AIA Aurora LLC, valued at approximately $20 billion, were purchased by AIG through a draw on the Treasury's Series F preferred stock commitment and then transferred by AIG to the Treasury as consideration for the draw on the available Series F funds. 7. Includes credit extended by the Federal Reserve Bank of New York to eligible borrowers through the Term Asset-Backed Securities Loan Facility. 8. Includes the book value of the commercial paper, net of amortized costs and related fees, and other investments held by the Commercial Paper Funding Facility LLC. 9. Refer to table 4 and the note on consolidation accompanying table 9. 10. Refer to table 5 and the note on consolidation accompanying table 9. 11. Refer to table 6 and the note on consolidation accompanying table 9. 12. Refer to table 7 and the note on consolidation accompanying table 9. 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, and the fair value adjustment to credit extended by the FRBNY to eligible borrowers through the Term Asset-Backed Securities Loan Facility. Before the closing of the AIG recapitalization plan on January 14, 2011, included accrued dividends on the FRBNY's preferred interests in AIA Aurora LLC and ALICO Holdings LLC. 15. Estimated. 16. Cash value of agreements, which are collateralized by U.S. Treasury securities, federal agency debt securities, and mortgage-backed securities. 17. Includes the liabilities of Maiden Lane LLC, Maiden Lane II LLC, Maiden Lane III LLC, and TALF LLC to entities other than the Federal Reserve Bank of New York, including liabilities that have recourse only to the portfolio holdings of these LLCs. Refer to table 4 through table 7 and the note on consolidation accompanying table 9. Also includes the liability for interest on Federal Reserve notes due to U.S. Treasury. Refer to table 8 and table 9. Sources: Federal Reserve Banks and the U.S. Department of the Treasury. 1A. Memorandum Items Millions of dollars Averages of daily figures Wednesday Week ended Change from week ended May 18, 2011 Memorandum item May 18, 2011 May 11, 2011 May 19, 2010 Marketable securities held in custody for foreign official and international accounts (1) 3,442,611 - 18,201 + 385,977 3,449,047 U.S. Treasury securities 2,700,352 + 1,035 + 438,867 2,704,040 Federal agency securities (2) 742,259 - 19,236 - 52,890 745,007 Securities lent to dealers 21,634 + 4,326 + 17,550 20,715 Overnight facility (3) 21,634 + 4,326 + 17,550 20,715 U.S. Treasury securities 20,823 + 4,377 + 17,987 19,882 Federal agency debt securities 811 - 51 - 438 833 Note: Components may not sum to totals because of rounding. 1. Face value of the securities. Includes U.S. Treasury STRIPS and other zero-coupon bonds at face value and mortgage-backed securities at original face value. 2. Includes debt and mortgage-backed securities. 3. Fully collateralized by U.S. Treasury securities. 2. Maturity Distribution of Securities, Loans, and Selected Other Assets and Liabilities, May 18, 2011 Millions of dollars Within 15 16 days to 91 days to Over 1 year Over 5 years Over 10 All Remaining maturity days 90 days 1 year to 5 years to 10 years years Loans (1) 21 1 669 14,289 0 ... 14,980 U.S. Treasury securities (2) Holdings 23,900 12,347 89,579 648,661 532,102 188,577 1,495,166 Weekly changes + 11,415 - 9,210 + 6,194 + 17,959 + 6,534 - 3,935 + 28,957 Federal agency debt securities (3) Holdings 1,665 8,433 16,494 69,070 22,749 2,347 120,758 Weekly changes - 4,360 + 1,775 - 1,370 + 1,595 - 2,000 0 - 4,360 Mortgage-backed securities (4) Holdings 0 0 0 18 23 923,538 923,579 Weekly changes 0 0 0 - 1 0 - 3,442 - 3,442 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) 0 0 0 0 0 0 0 Reverse repurchase agreements (6) 57,426 0 ... ... ... ... 57,426 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 Purchase Program Millions of dollars Wednesday Account name May 18, 2011 Mortgage-backed securities held outright (1) 923,579 Commitments to buy mortgage-backed securities (2) 0 Commitments to sell mortgage-backed securities (2) 0 Cash and cash equivalents (3) 0 1. Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. Current face value of the securities, which is the remaining principal balance of the underlying mortgages. 2. Current face value. Generally settle within 180 days and include commitments associated with outright transactions, dollar rolls, and coupon swaps. 3. This amount is included in other Federal Reserve assets in table 1 and in other assets in table 8 and table 9. 4. Information on Principal Accounts of Maiden Lane LLC Millions of dollars Wednesday Account name May 18, 2011 Net portfolio holdings of Maiden Lane LLC (1) 24,419 Outstanding principal amount of loan extended by the Federal Reserve Bank of New York (2) 21,719 Accrued interest payable to the Federal Reserve Bank of New York (2) 687 Outstanding principal amount and accrued interest on loan payable to JPMorgan Chase & Co. (3) 1,341 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, 2011. Any assets purchased after this valuation date are initially recorded at cost until their estimated fair value as of the purchase date becomes available. 2. Book value. This amount was eliminated when preparing the Federal Reserve Bank of New York's statement of condition consistent with consolidation under generally accepted accounting principles. Refer to the note on consolidation accompanying table 9. 3. Book value. The fair value of these obligations is included in other liabilities and capital in table 1 and in other liabilities and accrued dividends in table 8 and table 9. Note: On June 26, 2008, the Federal Reserve Bank of New York (FRBNY) extended credit to Maiden Lane LLC under the authority of section 13(3) of the Federal Reserve Act. This limited liability company was formed to acquire certain assets of Bear Stearns and to manage those assets through time to maximize repayment of the credit extended and to minimize disruption to financial markets. Payments by Maiden Lane LLC from the proceeds of the net portfolio holdings will be made in the following order: operating expenses of the LLC, principal due to the FRBNY, interest due to the FRBNY, principal due to JPMorgan Chase & Co., and interest due to JPMorgan Chase & Co. Any remaining funds will be paid to the FRBNY. 5. Information on Principal Accounts of Maiden Lane II LLC Millions of dollars Wednesday Account name May 18, 2011 Net portfolio holdings of Maiden Lane II LLC (1) 14,984 Outstanding principal amount of loan extended by the Federal Reserve Bank of New York (2) 10,542 Accrued interest payable to the Federal Reserve Bank of New York (2) 512 Deferred payment and accrued interest payable to subsidiaries of American International Group, Inc. (3) 1,084 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, 2011. Any assets purchased after this valuation date are initially recorded at cost until their estimated fair value as of the purchase date becomes available. 2. Book value. This amount was eliminated when preparing the Federal Reserve Bank of New York's statement of condition consistent with consolidation under generally accepted accounting principles. Refer to the note on consolidation accompanying table 9. 3. Book value. The deferred payment represents the portion of the proceeds of the net portfolio holdings due to subsidiaries of American International Group, Inc. in accordance with the asset purchase agreement. The fair value of this payment and accrued interest payable are included in other liabilities and capital in table 1 and in other liabilities and accrued dividends in table 8 and table 9. Note: On December 12, 2008, the Federal Reserve Bank of New York (FRBNY) began extending credit to Maiden Lane II LLC under the authority of section 13(3) of the Federal Reserve Act. This limited liability company was formed to purchase residential mortgage-backed securities from the U.S. securities lending reinvestment portfolio of subsidiaries of American International Group, Inc. (AIG subsidiaries). Payments by Maiden Lane II LLC from the proceeds of the net portfolio holdings will be made in the following order: operating expenses of Maiden Lane II LLC, principal due to the FRBNY, interest due to the FRBNY, and deferred payment and interest due to AIG subsidiaries. Any remaining funds will be shared by the FRBNY and AIG subsidiaries. 6. Information on Principal Accounts of Maiden Lane III LLC Millions of dollars Wednesday Account name May 18, 2011 Net portfolio holdings of Maiden Lane III LLC (1) 24,374 Outstanding principal amount of loan extended by the Federal Reserve Bank of New York (2) 11,985 Accrued interest payable to the Federal Reserve Bank of New York (2) 607 Outstanding principal amount and accrued interest on loan payable to American International Group, Inc. (3) 5,432 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, 2011. Any assets purchased after this valuation date are initially recorded at cost until their estimated fair value as of the purchase date becomes available. 2. Book value. This amount was eliminated when preparing the Federal Reserve Bank of New York's statement of condition consistent with consolidation under generally accepted accounting principles. Refer to the note on consolidation accompanying table 9. 3. Book value. The fair value of these obligations is included in other liabilities and capital in table 1 and in other liabilities and accrued dividends in table 8 and table 9. Note: On November 25, 2008, the Federal Reserve Bank of New York (FRBNY) began extending credit to Maiden Lane III LLC under the authority of section 13(3) of the Federal Reserve Act. This limited liability company was formed to purchase multi-sector collateralized debt obligations (CDOs) on which the Financial Products group of American International Group, Inc. (AIG) has written credit default swap (CDS) contracts. In connection with the purchase of CDOs, the CDS counterparties will concurrently unwind the related CDS transactions. Payments by Maiden Lane III LLC from the proceeds of the net portfolio holdings will be made in the following order: operating expenses of Maiden Lane III LLC, principal due to the FRBNY, interest due to the FRBNY, principal due to AIG, and interest due to AIG. Any remaining funds will be shared by the FRBNY and AIG. 7. Information on Principal Accounts of TALF LLC Millions of dollars Wednesday Account name May 18, 2011 Asset-backed securities holdings (1) 0 Other investments, net 733 Net portfolio holdings of TALF LLC 733 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) 107 1. Fair value. Fair value reflects an estimate of the price that would be received upon selling an asset if the transaction were to be conducted in an orderly market on the measurement date. 2. Book value. This amount was eliminated when preparing the Federal Reserve Bank of New York's statement of condition consistent with consolidation under generally accepted accounting principles. Refer to the note on consolidation accompanying table 9. 3. Book value. The fair value of these obligations is included in other liabilities and capital in table 1 and in other liabilities and accrued dividends in table 8 and table 9. Note: On November 25, 2008, the Federal Reserve announced the creation of the Term Asset-Backed Securities Loan Facility (TALF) under the authority of section 13(3) of the Federal Reserve Act. The TALF is a facility under which the Federal Reserve Bank of New York (FRBNY) extends loans with a term of up to five years to holders of eligible asset-backed securities. The TALF is intended to assist financial markets in accommodating the credit needs of consumers and businesses by facilitating the issuance of asset-backed securities collateralized by a variety of consumer and business loans. The loans provided through the TALF to eligible borrowers are non-recourse, meaning that the obligation of the borrower can be discharged by surrendering the collateral to the FRBNY. The loans are extended for the market value of the security less an amount known as a haircut. As a result, the borrower bears the initial risk of a decline in the value of the security. TALF LLC is a limited liability company formed to purchase and manage any asset-backed securities received by the FRBNY in connection with the decision of a borrower not to repay a TALF loan. TALF LLC has committed, for a fee, to purchase all asset-backed securities received by the FRBNY in conjunction with a TALF loan at a price equal to the TALF loan plus accrued but unpaid interest. Losses on asset-backed securities held by TALF LLC will be offset in the following order: by the commitment fees collected by TALF LLC, by the interest received on investments of TALF LLC, by up to $4.3 billion in subordinated debt funding provided by the U.S. Treasury, and finally, by senior debt funding provided by the FRBNY. Payments by TALF LLC from the proceeds of its net portfolio holdings will be made in the following order: operating expenses of TALF LLC, principal due to the FRBNY, principal due to the U.S. Treasury, interest due to the FRBNY, and interest due to the U.S. Treasury. Any remaining funds will be shared by the FRBNY and the U.S. Treasury. 8. Consolidated Statement of Condition of All Federal Reserve Banks Millions of dollars Eliminations from Wednesday Change since consolidation May 18, 2011 Wednesday Wednesday Assets, liabilities, and capital May 11, 2011 May 19, 2010 Assets Gold certificate account 11,037 0 0 Special drawing rights certificate account 5,200 0 0 Coin 2,149 - 17 + 107 Securities, repurchase agreements, and loans 2,554,483 + 20,804 + 414,725 Securities held outright (1) 2,539,503 + 21,154 + 475,607 U.S. Treasury securities 1,495,166 + 28,957 + 718,332 Bills (2) 18,423 0 0 Notes and bonds, nominal (2) 1,407,998 + 27,156 + 695,975 Notes and bonds, inflation-indexed (2) 61,004 + 1,440 + 19,879 Inflation compensation (3) 7,742 + 361 + 2,479 Federal agency debt securities (2) 120,758 - 4,360 - 46,819 Mortgage-backed securities (4) 923,579 - 3,442 - 195,906 Repurchase agreements (5) 0 0 0 Loans 14,980 - 350 - 60,881 Net portfolio holdings of Commercial Paper Funding Facility LLC (6) 0 0 - 2 Net portfolio holdings of Maiden Lane LLC (7) 24,419 - 393 - 3,889 Net portfolio holdings of Maiden Lane II LLC (8) 14,984 - 1 - 863 Net portfolio holdings of Maiden Lane III LLC (9) 24,374 - 329 + 1,002 Net portfolio holdings of TALF LLC (10) 733 0 + 294 Preferred interests in AIA Aurora LLC and ALICO Holdings LLC (11) 0 0 - 25,416 Items in process of collection (70) 354 - 149 + 125 Bank premises 2,210 0 - 28 Central bank liquidity swaps (12) 0 0 - 9,205 Other assets (13) 122,238 - 6,387 + 30,967 Total assets (70) 2,762,182 + 13,530 + 407,818 Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table. 8. Consolidated Statement of Condition of All Federal Reserve Banks (continued) Millions of dollars Eliminations from Wednesday Change since consolidation May 18, 2011 Wednesday Wednesday Assets, liabilities, and capital May 11, 2011 May 19, 2010 Liabilities Federal Reserve notes, net of F.R. Bank holdings 976,334 - 451 + 78,766 Reverse repurchase agreements (14) 57,426 + 2,711 + 1,662 Deposits (0) 1,653,841 + 10,959 + 326,130 Term deposits held by depository institutions 0 0 0 Other deposits held by depository institutions 1,538,699 - 7,955 + 442,960 U.S. Treasury, general account 109,620 + 21,726 + 79,407 U.S. Treasury, supplementary financing account 5,000 0 - 194,959 Foreign official 125 + 1 - 1,353 Other (0) 396 - 2,813 + 74 Deferred availability cash items (70) 1,373 - 162 - 986 Other liabilities and accrued dividends (15) 20,610 + 439 + 4,669 Total liabilities (70) 2,709,584 + 13,496 + 410,242 Capital accounts Capital paid in 26,299 + 17 - 124 Surplus 26,299 + 17 + 663 Other capital accounts 0 0 - 2,964 Total capital 52,597 + 33 - 2,425 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. Includes the book value of the commercial paper, net of amortized costs and related fees, and other investments held by the Commercial Paper Funding Facility LLC. 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. As a result of the closing of the AIG recapitalization plan on January 14, 2011, the Federal Reserve Bank of New York has been paid in full for its preferred interests in AIA Aurora LLC and ALICO Holdings LLC. A portion of the preferred interests was redeemed by AIG with the funds from AIG asset dispositions that were held as agent by the Federal Reserve. 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 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. Before the closing of the AIG recapitalization plan on January 14, 2011, included accrued dividends on the FRBNY's preferred interests in AIA Aurora LLC and ALICO Holdings LLC. 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. Before the closing of the AIG recapitalization plan on January 14, 2011, included funds from American International Group, Inc. asset dispositions, held as agent. 9. Statement of Condition of Each Federal Reserve Bank, May 18, 2011 Millions of dollars Total Boston New York Philadelphia Cleveland Richmond Atlanta Chicago St. Louis Minneapolis Kansas Dallas San Assets, liabilities, and capital City Francisco Assets Gold certificate account 11,037 390 3,866 432 450 872 1,394 854 319 197 318 728 1,217 Special drawing rights certificate acct. 5,200 196 1,818 210 237 412 654 424 150 90 153 282 574 Coin 2,149 53 79 161 159 358 176 333 33 61 162 218 356 Securities, repurchase agreements, and loans 2,554,483 62,439 1,195,936 86,993 68,597 293,288 188,794 150,821 48,069 39,031 67,553 100,438 252,524 Securities held outright (1) 2,539,503 62,437 1,180,978 86,993 68,597 293,287 188,793 150,810 48,065 39,028 67,552 100,438 252,524 U.S. Treasury securities 1,495,166 36,761 695,316 51,218 40,388 172,676 111,154 88,791 28,299 22,978 39,772 59,134 148,677 Bills (2) 18,423 453 8,567 631 498 2,128 1,370 1,094 349 283 490 729 1,832 Notes and bonds (3) 1,476,743 36,308 686,749 50,587 39,890 170,549 109,785 87,697 27,950 22,695 39,282 58,405 146,845 Federal agency debt securities (2) 120,758 2,969 56,158 4,137 3,262 13,946 8,977 7,171 2,286 1,856 3,212 4,776 12,008 Mortgage-backed securities (4) 923,579 22,708 429,504 31,638 24,948 106,664 68,661 54,847 17,481 14,194 24,568 36,528 91,839 Repurchase agreements (5) 0 0 0 0 0 0 0 0 0 0 0 0 0 Loans 14,980 1 14,958 0 0 1 1 11 4 3 1 0 0 Net portfolio holdings of Commercial Paper Funding Facility LLC (6) 0 0 0 0 0 0 0 0 0 0 0 0 0 Net portfolio holdings of Maiden Lane LLC (7) 24,419 0 24,419 0 0 0 0 0 0 0 0 0 0 Net portfolio holdings of Maiden Lane II LLC (8) 14,984 0 14,984 0 0 0 0 0 0 0 0 0 0 Net portfolio holdings of Maiden Lane III LLC (9) 24,374 0 24,374 0 0 0 0 0 0 0 0 0 0 Net portfolio holdings of TALF LLC (10) 733 0 733 0 0 0 0 0 0 0 0 0 0 Preferred interests in AIA Aurora LLC and ALICO Holdings LLC (11) 0 0 0 0 0 0 0 0 0 0 0 0 0 Items in process of collection 425 23 0 80 48 7 42 39 8 22 41 21 94 Bank premises 2,210 124 255 68 138 238 217 207 136 107 263 246 212 Central bank liquidity swaps (12) 0 0 0 0 0 0 0 0 0 0 0 0 0 Other assets (13) 122,238 3,296 51,987 5,905 4,565 16,566 8,646 6,337 2,039 2,320 2,792 4,204 13,581 Interdistrict settlement account 0 - 11,111 + 260,753 + 12,676 - 11,040 - 118,139 - 34,028 - 1,495 - 11,718 - 16,451 - 17,571 - 8,979 - 42,897 Total assets 2,762,252 55,409 1,579,204 106,525 63,155 193,601 165,894 157,521 39,036 25,377 53,710 97,158 225,661 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, May 18, 2011 (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 1,133,936 43,387 387,369 47,517 52,260 90,539 140,191 88,650 31,761 19,527 32,174 75,098 125,462 Less: Notes held by F.R. Banks 157,602 4,854 41,912 5,633 8,018 12,464 22,455 13,038 4,264 5,553 3,552 11,423 24,436 Federal Reserve notes, net 976,334 38,533 345,457 41,884 44,242 78,076 117,735 75,612 27,497 13,974 28,623 63,675 101,026 Reverse repurchase agreements (14) 57,426 1,412 26,706 1,967 1,551 6,632 4,269 3,410 1,087 883 1,528 2,271 5,710 Deposits 1,653,841 13,322 1,175,989 57,480 12,890 96,918 40,159 76,543 9,738 8,363 22,723 29,997 109,717 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 1,538,699 13,318 1,061,033 57,476 12,886 96,789 40,157 76,523 9,737 8,361 22,722 29,996 109,701 U.S. Treasury, general account 109,620 0 109,620 0 0 0 0 0 0 0 0 0 0 U.S. Treasury, supplementary financing account 5,000 0 5,000 0 0 0 0 0 0 0 0 0 0 Foreign official 125 1 97 4 3 8 2 1 0 1 0 1 6 Other 396 3 240 0 1 121 0 20 1 0 1 0 10 Deferred availability cash items 1,443 54 0 218 179 60 85 91 52 331 85 71 216 Interest on Federal Reserve notes due to U.S. Treasury (15) 1,442 32 681 33 34 169 116 90 30 19 39 62 139 Other liabilities and accrued dividends (16) 19,168 221 14,941 316 310 880 531 445 187 167 195 304 671 Total liabilities 2,709,655 53,574 1,563,774 101,899 59,206 182,734 162,896 156,191 38,592 23,737 53,193 96,379 217,480 Capital Capital paid in 26,299 918 7,715 2,313 1,974 5,433 1,499 665 222 820 258 390 4,090 Surplus 26,299 918 7,715 2,313 1,974 5,433 1,499 665 222 820 258 390 4,090 Other capital 0 0 0 0 0 0 0 0 0 0 0 0 0 Total liabilities and capital 2,762,252 55,409 1,579,204 106,525 63,155 193,601 165,894 157,521 39,036 25,377 53,710 97,158 225,661 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, May 18, 2011 (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. Includes the book value of the commercial paper, net of amortized costs and related fees, and other investments held by the Commercial Paper Funding Facility LLC. 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 7 and the note on consolidation below. 11. As a result of the closing of the AIG recapitalization plan on January 14, 2011, the Federal Reserve Bank of New York has been paid in full for its preferred interests in AIA Aurora LLC and ALICO Holdings LLC. A portion of the preferred interests was redeemed by AIG with the funds from AIG asset dispositions that were held as agent by the Federal Reserve. 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 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. Before the closing of the AIG recapitalization plan on January 14, 2011, included accrued dividends on the FRBNY's preferred interests in AIA Aurora LLC and ALICO Holdings LLC. 14. Cash value of agreements, which are collateralized by U.S. Treasury securities, federal agency debt securities, and mortgage-backed securities. 15. Represents the estimated weekly remittances to U.S Treasury as interest on Federal Reserve notes or, in those cases where the Reserve Bank's net earnings are not sufficient to equate surplus to capital paid-in, the deferred asset for interest on Federal Reserve notes. The amount of any deferred asset, which is presented as a negative amount in this line, represents the amount of the Federal Reserve Bank's earnings that must be retained before remittances to the U.S. Treasury resume. The amounts on this line are calculated in accordance with Board of Governors policy, which requires the Federal Reserve Banks to remit residual earnings to the U.S. Treasury as interest on Federal Reserve notes after providing for the costs of operations, payment of dividends, and the amount necessary to equate surplus with capital paid-in. 16. Includes the liabilities of 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. Before the closing of the AIG recapitalization plan on January 14, 2011, included funds from American International Group, Inc. asset dispositions, held as agent. Note on consolidation: The Federal Reserve Bank of New York (FRBNY) has extended loans to several limited liability companies under the authority of section 13(3) of the Federal Reserve Act. On June 26, 2008, a loan was extended to Maiden Lane LLC, which was formed to acquire certain assets of Bear Stearns. On November 25, 2008, a loan was extended to Maiden Lane III LLC, which was formed to purchase multi-sector collateralized debt obligations on which the Financial Products group of the American International Group, Inc. has written credit default swap contracts. On December 12, 2008, a loan was extended to Maiden Lane II LLC, which was formed to purchase residential mortgage-backed securities from the U.S. securities lending reinvestment portfolio of subsidiaries of American International Group, Inc. On November 25, 2008, the Federal Reserve Board authorized the FRBNY to extend credit to TALF LLC, which was formed to purchase and manage any asset-backed securities received by the FRBNY in connection with the decision of a borrower not to repay a loan extended under the Term Asset-Backed Securities Loan Facility. The FRBNY is the primary beneficiary of TALF LLC, because of the two beneficiaries of the LLC, the FRBNY and the U.S. Treasury, the FRBNY is primarily responsible for directing the financial activities of TALF LLC. The FRBNY is the primary beneficiary of the other LLCs cited above because it will receive a majority of any residual returns of the LLCs and absorb a majority of any residual losses of the LLCs. Consistent with generally accepted accounting principles, the assets and liabilities of these LLCs have been consolidated with the assets and liabilities of the FRBNY in the preparation of the statements of condition shown on this release. As a consequence of the consolidation, the extensions of credit from the FRBNY to the LLCs are eliminated, the net assets of the LLCs appear as assets on the previous page (and in table 1 and table 8), and the liabilities of the LLCs to entities other than the FRBNY, including those with recourse only to the portfolio holdings of the LLCs, are included in other liabilities in this table (and table 1 and table 8). 10. Collateral Held against Federal Reserve Notes: Federal Reserve Agents' Accounts Millions of dollars Wednesday Federal Reserve notes and collateral May 18, 2011 Federal Reserve notes outstanding 1,133,936 Less: Notes held by F.R. Banks not subject to collateralization 157,602 Federal Reserve notes to be collateralized 976,334 Collateral held against Federal Reserve notes 976,334 Gold certificate account 11,037 Special drawing rights certificate account 5,200 U.S. Treasury, agency debt, and mortgage-backed securities pledged (1,2) 960,097 Other assets pledged 0 Memo: Total U.S. Treasury, agency debt, and mortgage-backed securities (1,2) 2,539,503 Less: Face value of securities under reverse repurchase agreements 53,583 U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 2,485,920 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.