FEDERAL RESERVE statistical release For release at 4:30 P.M. EST November 15, 2012 The Board's H.4.1 statistical release, "Factors Affecting Reserve Balances of Depository Institutions and Condition Statement of Federal Reserve Banks," has been modified to present more detail on memorandum items in table 1A. The line item for U.S. Treasury securities held in custody now excludes securities pledged by the Federal Reserve as collateral in reverse repurchase agreements conducted with foreign official and international accounts and includes inflation compensation on Treasury Inflation-Protected Securities (TIPS), which captures the inflation adjustment to original face value of TIPS over time. Prior data included securities pledged as collateral against reverse repurchase agreements with the Federal Reserve and excluded inflation compensation on TIPS. Information on the amount of foreign official and international reverse repurchase agreements is still presented in table 1 and included in total reverse repurchase agreements in table 8 and table 9. The line item for federal agency securities has been revised to report mortgage-backed securities holdings at current face value, rather than original face value as previously reported. Additionally, a line item was added for other securities held in custody by the Federal Reserve; this item includes non-marketable U.S. Treasury securities, supranationals, corporate bonds, asset-backed securities, and commercial paper all reported at face value. Finally, the footnote corresponding to the overnight facility for securities lent to dealers now notes that these securities are at face value; the underlying data remain the same. Historical data incorporating these new and revised line items can be accessed through the Data Download Program (DDP) at http://www.federalreserve.gov/datadownload/Choose.aspx?rel=H41. FEDERAL RESERVE statistical release H.4.1 Factors Affecting Reserve Balances of Depository Institutions and Condition Statement of Federal Reserve Banks November 15, 2012 1. Factors Affecting Reserve Balances of Depository Institutions Millions of dollars Reserve Bank credit, related items, and Averages of daily figures Wednesday reserve balances of depository institutions at Week ended Change from week ended Nov 14, 2012 Federal Reserve Banks Nov 14, 2012 Nov 7, 2012 Nov 16, 2011 Reserve Bank credit 2,819,338 + 8,507 - 604 2,858,759 Securities held outright (1) 2,590,100 + 6,248 - 33,959 2,627,755 U.S. Treasury securities 1,650,855 + 960 - 17,893 1,656,833 Bills (2) 0 0 - 18,423 0 Notes and bonds, nominal (2) 1,567,957 + 432 - 4,681 1,572,814 Notes and bonds, inflation-indexed (2) 72,344 + 400 + 4,422 73,344 Inflation compensation (3) 10,555 + 129 + 789 10,676 Federal agency debt securities (2) 81,902 0 - 25,717 81,902 Mortgage-backed securities (4) 857,344 + 5,289 + 9,652 889,020 Repurchase agreements (5) 0 0 0 0 Loans 1,083 - 89 - 9,437 1,016 Primary credit 13 + 4 + 4 12 Secondary credit 0 0 0 0 Seasonal credit 43 - 5 + 23 39 Term Asset-Backed Securities Loan Facility (6) 1,028 - 86 - 9,463 966 Other credit extensions 0 0 0 0 Net portfolio holdings of Maiden Lane LLC (7) 1,572 0 - 10,730 1,573 Net portfolio holdings of Maiden Lane II LLC (8) 61 0 - 9,276 61 Net portfolio holdings of Maiden Lane III LLC (9) 23 0 - 18,037 23 Net portfolio holdings of TALF LLC (10) 855 0 + 61 855 Float -808 - 21 + 350 -1,526 Central bank liquidity swaps (11) 12,121 - 344 + 9,772 12,121 Other Federal Reserve assets (12) 214,331 + 2,711 + 70,653 216,882 Gold stock 11,041 0 0 11,041 Special drawing rights certificate account 5,200 0 0 5,200 Treasury currency outstanding (13) 44,732 + 14 + 578 44,732 Total factors supplying reserve funds 2,880,311 + 8,521 - 26 2,919,732 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 Nov 14, 2012 Federal Reserve Banks Nov 14, 2012 Nov 7, 2012 Nov 16, 2011 Currency in circulation (13) 1,148,640 + 4,166 + 91,032 1,149,364 Reverse repurchase agreements (14) 94,528 - 1,559 + 846 93,590 Foreign official and international accounts 94,528 - 1,559 + 846 93,590 Others 0 0 0 0 Treasury cash holdings 150 + 3 + 39 143 Deposits with F.R. Banks, other than reserve balances 83,890 + 29,798 + 8,578 93,462 Term deposits held by depository institutions 3,043 + 3,043 + 3,043 3,043 U.S. Treasury, General Account 38,664 + 10,662 + 8,878 26,859 Foreign official 6,108 + 207 + 5,955 6,481 Service-related 0 0 - 2,504 0 Required clearing balances 0 0 - 2,504 0 Adjustments to compensate for float 0 0 0 0 Other 36,074 + 15,884 - 6,794 57,078 Other liabilities and capital (15) 69,772 + 2,728 - 137 76,390 Total factors, other than reserve balances, absorbing reserve funds 1,396,979 + 35,134 + 100,358 1,412,950 Reserve balances with Federal Reserve Banks 1,483,331 - 26,614 - 100,385 1,506,782 Note: Components may not sum to totals because of rounding. 1. Includes securities lent to dealers under the overnight securities lending facility; refer to table 1A. 2. Face value of the securities. 3. Compensation that adjusts for the effect of inflation on the original face value of inflation-indexed securities. 4. Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. Current face value of the securities, which is the remaining principal balance of the underlying mortgages. 5. Cash value of agreements. 6. Includes credit extended by the Federal Reserve Bank of New York to eligible borrowers through the Term Asset-Backed Securities Loan Facility. 7. Refer to table 4 and the note on consolidation accompanying table 9. 8. Refer to table 5 and the note on consolidation accompanying table 9. 9. Refer to table 6 and the note on consolidation accompanying table 9. 10. Refer to table 7 and the note on consolidation accompanying table 9. 11. Dollar value of foreign currency held under these agreements valued at the exchange rate to be used when the foreign currency is returned to the foreign central bank. This exchange rate equals the market exchange rate used when the foreign currency was acquired from the foreign central bank. 12. Includes other assets denominated in foreign currencies, which are revalued daily at market exchange rates, and the fair value adjustment to credit extended by the FRBNY to eligible borrowers through the Term Asset-Backed Securities Loan Facility. 13. Estimated. 14. Cash value of agreements, which are collateralized by U.S. Treasury securities, federal agency debt securities, and mortgage-backed securities. 15. Includes the liabilities of Maiden Lane LLC, Maiden Lane II LLC, Maiden Lane III LLC, and TALF LLC to entities other than the Federal Reserve Bank of New York, including liabilities that have recourse only to the portfolio holdings of these LLCs. Refer to table 4 through table 7 and the note on consolidation accompanying table 9. Also includes the liability for interest on Federal Reserve notes due to U.S. Treasury. Refer to table 8 and table 9. Sources: Federal Reserve Banks and the U.S. Department of the Treasury. 1A. Memorandum Items Millions of dollars Memorandum item Averages of daily figures Wednesday Week ended Change from week ended Nov 14, 2012 Nov 14, 2012 Nov 7, 2012 Nov 16, 2011 Securities held in custody for foreign official and international accounts 3,193,581 - 48 + 105,030 3,192,371 Marketable U.S. Treasury securities (1) 2,834,797 + 205 + 184,921 2,833,575 Federal agency debt and mortgage-backed securities (2) 322,507 + 11 - 82,806 322,622 Other securities (3) 36,277 - 264 + 2,915 36,173 Securities lent to dealers 7,767 + 33 - 3,562 8,584 Overnight facility (4) 7,767 + 33 - 3,562 8,584 U.S. Treasury securities 7,134 + 60 - 3,045 7,980 Federal agency debt securities 633 - 27 - 517 604 Note: Components may not sum to totals because of rounding. 1. Includes securities and U.S. Treasury STRIPS at face value, and inflation compensation on TIPS. Does not include securities pledged as collateral to foreign official and international account holders against reverse repurchase agreements with the Federal Reserve presented in tables 1, 8, and 9. 2. Face value of federal agency securities and current face value of mortgage-backed securities, which is the remaining principal balance of the underlying mortgages. 3. Includes non-marketable U.S. Treasury securities, supranationals, corporate bonds, asset-backed securities, and commercial paper at face value. 4. Face value. Fully collateralized by U.S. Treasury securities. 2. Maturity Distribution of Securities, Loans, and Selected Other Assets and Liabilities, November 14, 2012 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 Loans (1) 20 282 47 667 0 ... 1,016 U.S. Treasury securities (2) Holdings 1 484 16 418,820 836,409 401,103 1,656,833 Weekly changes 0 0 0 + 2,296 - 145 + 3,393 + 5,544 Federal agency debt securities (3) Holdings 2,619 4,670 15,533 52,323 4,410 2,347 81,902 Weekly changes 0 + 498 - 498 0 0 0 0 Mortgage-backed securities (4) Holdings 0 0 3 1 1,486 887,530 889,020 Weekly changes 0 0 0 0 0 + 36,958 + 36,957 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) 3,175 8,946 0 0 0 0 12,121 Reverse repurchase agreements (6) 93,590 0 ... ... ... ... 93,590 Term deposits 0 3,043 0 ... ... ... 3,043 Note: Components may not sum to totals because of rounding. ...Not applicable. 1. Excludes the loans from the Federal Reserve Bank of New York (FRBNY) to Maiden Lane LLC, Maiden Lane II LLC, Maiden Lane III LLC, and TALF LLC. The loans were eliminated when preparing the FRBNY's statement of condition consistent with consolidation under generally accepted accounting principles. 2. Face value. For inflation-indexed securities, includes the original face value and compensation that adjusts for the effect of inflation on the original face value of such securities. 3. Face value. 4. Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. Current face value of the securities, which is the remaining principal balance of the underlying mortgages. 5. Face value of asset-backed securities held by TALF LLC, which is the remaining principal balance of the underlying assets. 6. Cash value of agreements. 7. Dollar value of foreign currency held under these agreements valued at the exchange rate to be used when the foreign currency is returned to the foreign central bank. This exchange rate equals the market exchange rate used when the foreign currency was acquired from the foreign central bank. 3. Supplemental Information on Mortgage-Backed Securities Millions of dollars Account name Wednesday Nov 14, 2012 Mortgage-backed securities held outright (1) 889,020 Commitments to buy mortgage-backed securities (2) 100,447 Commitments to sell mortgage-backed securities (2) 1,200 Cash and cash equivalents (3) 9 1. Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. Current face value of the securities, which is the remaining principal balance of the underlying mortgages. 2. Current face value. Generally settle within 180 days and include commitments associated with outright transactions, dollar rolls, and coupon swaps. 3. This amount is included in other Federal Reserve assets in table 1 and in other assets in table 8 and table 9. 4. Information on Principal Accounts of Maiden Lane LLC Millions of dollars Account name Wednesday Nov 14, 2012 Net portfolio holdings of Maiden Lane LLC (1) 1,573 Outstanding principal amount of loan extended by the Federal Reserve Bank of New York (2) 0 Accrued interest payable to the Federal Reserve Bank of New York (2) 0 Outstanding principal amount and accrued interest on loan payable to JPMorgan Chase & Co. (3) 134 1. Fair value. Fair value reflects an estimate of the price that would be received upon selling an asset if the transaction were to be conducted in an orderly market on the measurement date. Revalued quarterly. This table reflects valuations as of September 30, 2012. Any assets purchased after this valuation date are initially recorded at cost until their estimated fair value as of the purchase date becomes available. 2. Book value. This amount was eliminated when preparing the Federal Reserve Bank of New York's statement of condition consistent with consolidation under generally accepted accounting principles. Refer to the note on consolidation accompanying table 9. 3. Book value. The fair value of these obligations is included in other liabilities and capital in table 1 and in other liabilities and accrued dividends in table 8 and table 9. Note: On June 26, 2008, the Federal Reserve Bank of New York (FRBNY) extended credit to Maiden Lane LLC under the authority of section 13(3) of the Federal Reserve Act. This limited liability company was formed to acquire certain assets of Bear Stearns and to manage those assets through time to maximize repayment of the credit extended and to minimize disruption to financial markets. Payments by Maiden Lane LLC from the proceeds of the net portfolio holdings will be made in the following order: operating expenses of the LLC, principal due to the FRBNY, interest due to the FRBNY, principal due to JPMorgan Chase & Co., and interest due to JPMorgan Chase & Co. Any remaining funds will be paid to the FRBNY. 5. Information on Principal Accounts of Maiden Lane II LLC Millions of dollars Account name Wednesday Nov 14, 2012 Net portfolio holdings of Maiden Lane II LLC (1) 61 Outstanding principal amount of loan extended by the Federal Reserve Bank of New York (2) 0 Accrued interest payable to the Federal Reserve Bank of New York (2) 0 Deferred payment and accrued interest payable to subsidiaries of American International Group, Inc. (3) 0 1. Fair value. Fair value reflects an estimate of the price that would be received upon selling an asset if the transaction were to be conducted in an orderly market on the measurement date. Revalued quarterly. This table reflects valuations as of September 30, 2012. Any assets purchased after this valuation date are initially recorded at cost until their estimated fair value as of the purchase date becomes available. 2. Book value. This amount was eliminated when preparing the Federal Reserve Bank of New York's statement of condition consistent with consolidation under generally accepted accounting principles. Refer to the note on consolidation accompanying table 9. 3. Book value. The deferred payment represents the portion of the proceeds of the net portfolio holdings due to subsidiaries of American International Group, Inc. in accordance with the asset purchase agreement. The fair value of this payment and accrued interest payable are included in other liabilities and capital in table 1 and in other liabilities and accrued dividends in table 8 and table 9. Note: On December 12, 2008, the Federal Reserve Bank of New York (FRBNY) began extending credit to Maiden Lane II LLC under the authority of section 13(3) of the Federal Reserve Act. This limited liability company was formed to purchase residential mortgage-backed securities from the U.S. securities lending reinvestment portfolio of subsidiaries of American International Group, Inc. (AIG subsidiaries). Payments by Maiden Lane II LLC from the proceeds of the net portfolio holdings will be made in the following order: operating expenses of Maiden Lane II LLC, principal due to the FRBNY, interest due to the FRBNY, and deferred payment and interest due to AIG subsidiaries. Any remaining funds will be shared by the FRBNY and AIG subsidiaries. 6. Information on Principal Accounts of Maiden Lane III LLC Millions of dollars Account name Wednesday Nov 14, 2012 Net portfolio holdings of Maiden Lane III LLC (1) 23 Outstanding principal amount of loan extended by the Federal Reserve Bank of New York (2) 0 Accrued interest payable to the Federal Reserve Bank of New York (2) 0 Outstanding principal amount and accrued interest on loan payable to American International Group, Inc. (3) 0 1. Fair value. Fair value reflects an estimate of the price that would be received upon selling an asset if the transaction were to be conducted in an orderly market on the measurement date. Revalued quarterly. This table reflects valuations as of September 30, 2012. Any assets purchased after this valuation date are initially recorded at cost until their estimated fair value as of the purchase date becomes available. 2. Book value. This amount was eliminated when preparing the Federal Reserve Bank of New York's statement of condition consistent with consolidation under generally accepted accounting principles. Refer to the note on consolidation accompanying table 9. 3. Book value. The fair value of these obligations is included in other liabilities and capital in table 1 and in other liabilities and accrued dividends in table 8 and table 9. Note: On November 25, 2008, the Federal Reserve Bank of New York (FRBNY) began extending credit to Maiden Lane III LLC under the authority of section 13(3) of the Federal Reserve Act. This limited liability company was formed to purchase multi-sector collateralized debt obligations (CDOs) on which the Financial Products group of American International Group, Inc. (AIG) has written credit default swap (CDS) contracts. In connection with the purchase of CDOs, the CDS counterparties will concurrently unwind the related CDS transactions. Payments by Maiden Lane III LLC from the proceeds of the net portfolio holdings will be made in the following order: operating expenses of Maiden Lane III LLC, principal due to the FRBNY, interest due to the FRBNY, principal due to AIG, and interest due to AIG. Any remaining funds will be shared by the FRBNY and AIG. 7. Information on Principal Accounts of TALF LLC Millions of dollars Account name Wednesday Nov 14, 2012 Asset-backed securities holdings (1) 0 Other investments, net 855 Net portfolio holdings of TALF LLC 855 Outstanding principal amount of loan extended by the Federal Reserve Bank of New York (2) 0 Accrued interest payable to the Federal Reserve Bank of New York (2) 0 Funding provided by U.S. Treasury to TALF LLC, including accrued interest payable (3) 113 1. Fair value. Fair value reflects an estimate of the price that would be received upon selling an asset if the transaction were to be conducted in an orderly market on the measurement date. 2. Book value. This amount was eliminated when preparing the Federal Reserve Bank of New York's statement of condition consistent with consolidation under generally accepted accounting principles. Refer to the note on consolidation accompanying table 9. 3. Book value. The fair value of these obligations is included in other liabilities and capital in table 1 and in other liabilities and accrued dividends in table 8 and table 9. Note: On November 25, 2008, the Federal Reserve announced the creation of the Term Asset-Backed Securities Loan Facility (TALF) under the authority of section 13(3) of the Federal Reserve Act. The TALF is a facility under which the Federal Reserve Bank of New York (FRBNY) extends loans with a term of up to five years to holders of eligible asset-backed securities. The TALF is intended to assist financial markets in accommodating the credit needs of consumers and businesses by facilitating the issuance of asset-backed securities collateralized by a variety of consumer and business loans. The loans provided through the TALF to eligible borrowers are non-recourse, meaning that the obligation of the borrower can be discharged by surrendering the collateral to the FRBNY. The loans are extended for the market value of the security less an amount known as a haircut. As a result, the borrower bears the initial risk of a decline in the value of the security. TALF LLC is a limited liability company formed to purchase and manage any asset-backed securities received by the FRBNY in connection with the decision of a borrower not to repay a TALF loan. TALF LLC has committed, for a fee, to purchase all asset-backed securities received by the FRBNY in conjunction with a TALF loan at a price equal to the TALF loan plus accrued but unpaid interest. Losses on asset-backed securities held by TALF LLC will be offset in the following order: by the commitment fees collected by TALF LLC, by the interest received on investments of TALF LLC, by up to $1.4 billion in subordinated debt funding provided by the U.S. Treasury, and finally, by senior debt funding provided by the FRBNY. Payments by TALF LLC from the proceeds of its net portfolio holdings will be made in the following order: operating expenses of TALF LLC, principal due to the FRBNY, principal due to the U.S. Treasury, interest due to the FRBNY, and interest due to the U.S. Treasury. Any remaining funds will be shared by the FRBNY and the U.S. Treasury. 8. Consolidated Statement of Condition of All Federal Reserve Banks Millions of dollars Assets, liabilities, and capital Eliminations Wednesday Change since from Nov 14, 2012 Wednesday Wednesday consolidation Nov 7, 2012 Nov 16, 2011 Assets Gold certificate account 11,037 0 0 Special drawing rights certificate account 5,200 0 0 Coin 2,144 - 9 - 138 Securities, repurchase agreements, and loans 2,628,771 + 42,352 - 7,049 Securities held outright (1) 2,627,755 + 42,502 + 2,439 U.S. Treasury securities 1,656,833 + 5,544 - 19,003 Bills (2) 0 0 - 18,423 Notes and bonds, nominal (2) 1,572,814 + 3,926 - 6,904 Notes and bonds, inflation-indexed (2) 73,344 + 1,400 + 5,422 Inflation compensation (3) 10,676 + 219 + 902 Federal agency debt securities (2) 81,902 0 - 25,595 Mortgage-backed securities (4) 889,020 + 36,957 + 47,037 Repurchase agreements (5) 0 0 0 Loans 1,016 - 150 - 9,488 Net portfolio holdings of Maiden Lane LLC (6) 1,573 + 1 - 9,027 Net portfolio holdings of Maiden Lane II LLC (7) 61 0 - 9,280 Net portfolio holdings of Maiden Lane III LLC (8) 23 0 - 17,809 Net portfolio holdings of TALF LLC (9) 855 0 + 61 Items in process of collection (0) 177 + 48 - 24 Bank premises 2,345 + 2 + 164 Central bank liquidity swaps (10) 12,121 - 344 + 9,772 Other assets (11) 214,537 + 4,384 + 77,988 Total assets (0) 2,878,843 + 46,435 + 44,657 Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table. 8. Consolidated Statement of Condition of All Federal Reserve Banks (continued) Millions of dollars Assets, liabilities, and capital Eliminations Wednesday Change since from Nov 14, 2012 Wednesday Wednesday consolidation Nov 7, 2012 Nov 16, 2011 Liabilities Federal Reserve notes, net of F.R. Bank holdings 1,106,915 + 2,150 + 90,543 Reverse repurchase agreements (12) 93,590 + 610 - 3,239 Deposits (0) 1,600,244 + 33,039 - 49,531 Term deposits held by depository institutions 3,043 + 3,043 + 3,043 Other deposits held by depository institutions 1,506,782 - 4,514 - 70,785 U.S. Treasury, General Account 26,859 + 2,889 - 17,923 Foreign official 6,481 + 550 + 6,356 Other (0) 57,078 + 31,070 + 29,776 Deferred availability cash items (0) 1,703 + 663 + 137 Other liabilities and accrued dividends (13) 21,249 + 9,638 + 3,772 Total liabilities (0) 2,823,702 + 46,100 + 41,682 Capital accounts Capital paid in 27,570 + 167 + 1,487 Surplus 27,570 + 167 + 1,487 Other capital accounts 0 0 0 Total capital 55,141 + 335 + 2,975 Note: Components may not sum to totals because of rounding. 1. Includes securities lent to dealers under the overnight securities lending facility; refer to table 1A. 2. Face value of the securities. 3. Compensation that adjusts for the effect of inflation on the original face value of inflation-indexed securities. 4. Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. Current face value of the securities, which is the remaining principal balance of the underlying mortgages. 5. Cash value of agreements, which are collateralized by U.S. Treasury and federal agency securities. 6. Refer to table 4 and the note on consolidation accompanying table 9. 7. Refer to table 5 and the note on consolidation accompanying table 9. 8. Refer to table 6 and the note on consolidation accompanying table 9. 9. Refer to table 7 and the note on consolidation accompanying table 9. 10. Dollar value of foreign currency held under these agreements valued at the exchange rate to be used when the foreign currency is returned to the foreign central bank. This exchange rate equals the market exchange rate used when the foreign currency was acquired from the foreign central bank. 11. Includes other assets denominated in foreign currencies, which are revalued daily at market exchange rates and the fair value adjustment to credit extended by the Federal Reserve Bank of New York (FRBNY) to eligible borrowers through the Term Asset-Backed Securities Loan Facility. 12. Cash value of agreements, which are collateralized by U.S. Treasury securities, federal agency debt securities, and mortgage-backed securities. 13. Includes the liabilities of Maiden Lane LLC, Maiden Lane II LLC, Maiden Lane III LLC, and TALF LLC to entities other than the Federal Reserve Bank of New York, including liabilities that have recourse only to the portfolio holdings of these LLCs. Refer to table 4 through table 7 and the note on consolidation accompanying table 9. Also includes the liability for interest on Federal Reserve notes due to U.S. Treasury. 9. Statement of Condition of Each Federal Reserve Bank, November 14, 2012 Millions of dollars Assets, liabilities, and capital Total Boston New York Philadelphia Cleveland Richmond Atlanta Chicago St. Louis Minneapolis Kansas Dallas San City Francisco Assets Gold certificate account 11,037 408 3,824 437 515 890 1,337 839 313 192 315 725 1,242 Special drawing rights certificate acct. 5,200 196 1,818 210 237 412 654 424 150 90 153 282 574 Coin 2,144 44 100 148 146 386 200 312 38 52 163 199 356 Securities, repurchase agreements, and loans 2,628,771 63,823 1,474,228 86,868 66,809 187,023 158,437 145,782 41,082 23,913 52,803 102,106 225,897 Securities held outright (1) 2,627,755 63,823 1,473,263 86,868 66,809 187,021 158,435 145,776 41,082 23,889 52,793 102,102 225,894 U.S. Treasury securities 1,656,833 40,241 928,911 54,771 42,124 117,919 99,896 91,914 25,903 15,062 33,286 64,377 142,429 Bills (2) 0 0 0 0 0 0 0 0 0 0 0 0 0 Notes and bonds (3) 1,656,833 40,241 928,911 54,771 42,124 117,919 99,896 91,914 25,903 15,062 33,286 64,377 142,429 Federal agency debt securities (2) 81,902 1,989 45,919 2,708 2,082 5,829 4,938 4,544 1,280 745 1,645 3,182 7,041 Mortgage-backed securities (4) 889,020 21,593 498,433 29,389 22,603 63,273 53,602 49,319 13,899 8,082 17,861 34,543 76,424 Repurchase agreements (5) 0 0 0 0 0 0 0 0 0 0 0 0 0 Loans 1,016 0 966 0 0 2 2 5 0 24 10 5 3 Net portfolio holdings of Maiden Lane LLC (6) 1,573 0 1,573 0 0 0 0 0 0 0 0 0 0 Net portfolio holdings of Maiden Lane II LLC (7) 61 0 61 0 0 0 0 0 0 0 0 0 0 Net portfolio holdings of Maiden Lane III LLC (8) 23 0 23 0 0 0 0 0 0 0 0 0 0 Net portfolio holdings of TALF LLC (9) 855 0 855 0 0 0 0 0 0 0 0 0 0 Items in process of collection 177 0 0 0 18 0 157 0 1 0 0 0 0 Bank premises 2,345 120 453 69 121 230 213 203 130 103 253 239 209 Central bank liquidity swaps (10) 12,121 425 3,910 1,051 896 2,507 693 323 99 49 121 194 1,852 Other assets (11) 214,537 5,509 113,794 8,579 6,689 18,855 12,899 11,163 3,184 1,871 4,067 7,810 20,117 Interdistrict settlement account 0 + 4,264 - 62,111 - 18,330 + 6,088 - 26,515 + 34,120 - 8,482 + 1,678 + 3,579 - 3,689 + 437 + 68,962 Total assets 2,878,843 74,789 1,538,527 79,032 81,519 183,788 208,711 150,564 46,676 29,850 54,186 111,992 319,208 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, November 14, 2012 (continued) Millions of dollars Assets, liabilities, and capital Total Boston New York Philadelphia Cleveland Richmond Atlanta Chicago St. Louis Minneapolis Kansas Dallas San City Francisco Liabilities Federal Reserve notes outstanding 1,328,216 47,074 465,395 47,762 60,883 103,130 177,144 95,259 37,486 22,538 36,350 90,671 144,525 Less: Notes held by F.R. Banks 221,300 5,302 85,903 5,087 8,320 11,643 27,350 13,092 4,280 3,240 5,319 26,109 25,655 Federal Reserve notes, net 1,106,915 41,772 379,492 42,674 52,563 91,487 149,795 82,166 33,205 19,297 31,031 64,562 118,870 Reverse repurchase agreements (12) 93,590 2,273 52,472 3,094 2,379 6,661 5,643 5,192 1,463 851 1,880 3,636 8,045 Deposits 1,600,244 27,571 1,076,241 28,408 21,725 72,777 47,591 60,632 11,209 9,013 20,332 42,198 182,546 Term deposits held by depository institutions 3,043 5 1,564 700 0 40 161 57 0 80 101 5 330 Other deposits held by depository institutions 1,506,782 27,544 984,487 27,696 21,722 72,592 47,421 60,551 11,209 8,933 20,230 42,190 182,209 U.S. Treasury, General Account 26,859 0 26,859 0 0 0 0 0 0 0 0 0 0 Foreign official 6,481 1 6,454 3 3 8 2 1 0 0 0 1 6 Other 57,078 21 56,878 8 0 137 7 22 0 0 1 2 1 Deferred availability cash items 1,703 0 0 0 29 0 1,459 0 0 215 0 0 0 Interest on Federal Reserve notes due to U.S. Treasury (13) 1,470 46 900 51 40 -15 97 96 25 15 28 62 125 Other liabilities and accrued dividends (14) 19,779 448 11,951 600 514 1,384 1,015 920 321 230 359 658 1,381 Total liabilities 2,823,702 72,111 1,521,057 74,826 77,250 172,295 205,599 149,005 46,223 29,621 53,631 111,116 310,968 Capital Capital paid in 27,570 1,339 8,735 2,103 2,135 5,747 1,556 779 226 115 278 438 4,120 Surplus 27,570 1,339 8,735 2,103 2,135 5,747 1,556 779 226 115 278 438 4,120 Other capital 0 0 0 0 0 0 0 0 0 0 0 0 0 Total liabilities and capital 2,878,843 74,789 1,538,527 79,032 81,519 183,788 208,711 150,564 46,676 29,850 54,186 111,992 319,208 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, November 14, 2012 (continued) 1. Includes securities lent to dealers under the overnight securities lending facility; refer to table 1A. 2. Face value of the securities. 3. Includes the original face value of inflation-indexed securities and compensation that adjusts for the effect of inflation on the original face value of such securities. 4. Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. Current face value of the securities, which is the remaining principal balance of the underlying mortgages. 5. Cash value of agreements, which are collateralized by U.S. Treasury and federal agency securities. 6. Refer to table 4 and the note on consolidation below. 7. Refer to table 5 and the note on consolidation below. 8. Refer to table 6 and the note on consolidation below. 9. Refer to table 7 and the note on consolidation below. 10. Dollar value of foreign currency held under these agreements valued at the exchange rate to be used when the foreign currency is returned to the foreign central bank. This exchange rate equals the market exchange rate used when the foreign currency was acquired from the foreign central bank. 11. Includes other assets denominated in foreign currencies, which are revalued daily at market exchange rates and the fair value adjustment to credit extended by the Federal Reserve Bank of New York (FRBNY) to eligible borrowers through the Term Asset-Backed Securities Loan Facility. 12. Cash value of agreements, which are collateralized by U.S. Treasury securities, federal agency debt securities, and mortgage-backed securities. 13. Represents the estimated weekly remittances to U.S. Treasury as interest on Federal Reserve notes or, in those cases where the Reserve Bank's net earnings are not sufficient to equate surplus to capital paid-in, the deferred asset for interest on Federal Reserve notes. The amount of any deferred asset, which is presented as a negative amount in this line, represents the amount of the Federal Reserve Bank's earnings that must be retained before remittances to the U.S. Treasury resume. The amounts on this line are calculated in accordance with Board of Governors policy, which requires the Federal Reserve Banks to remit residual earnings to the U.S. Treasury as interest on Federal Reserve notes after providing for the costs of operations, payment of dividends, and the amount necessary to equate surplus with capital paid-in. 14. Includes the liabilities of Maiden Lane LLC, Maiden Lane II LLC, Maiden Lane III LLC, and TALF LLC to entities other than the Federal Reserve Bank of New York, including liabilities that have recourse only to the portfolio holdings of these LLCs. Refer to table 4 through table 7 and the note on consolidation below. Note on consolidation: The Federal Reserve Bank of New York (FRBNY) has extended loans to several limited liability companies under the authority of section 13(3) of the Federal Reserve Act. On June 26, 2008, a loan was extended to Maiden Lane LLC, which was formed to acquire certain assets of Bear Stearns. On November 25, 2008, a loan was extended to Maiden Lane III LLC, which was formed to purchase multi-sector collateralized debt obligations on which the Financial Products group of the American International Group, Inc. has written credit default swap contracts. On December 12, 2008, a loan was extended to Maiden Lane II LLC, which was formed to purchase residential mortgage-backed securities from the U.S. securities lending reinvestment portfolio of subsidiaries of American International Group, Inc. On November 25, 2008, the Federal Reserve Board authorized the FRBNY to extend credit to TALF LLC, which was formed to purchase and manage any asset-backed securities received by the FRBNY in connection with the decision of a borrower not to repay a loan extended under the Term Asset-Backed Securities Loan Facility. The FRBNY is the primary beneficiary of TALF LLC, because of the two beneficiaries of the LLC, the FRBNY and the U.S. Treasury, the FRBNY is primarily responsible for directing the financial activities of TALF LLC. The FRBNY is the primary beneficiary of the other LLCs cited above because it will receive a majority of any residual returns of the LLCs and absorb a majority of any residual losses of the LLCs. Consistent with generally accepted accounting principles, the assets and liabilities of these LLCs have been consolidated with the assets and liabilities of the FRBNY in the preparation of the statements of condition shown on this release. As a consequence of the consolidation, the extensions of credit from the FRBNY to the LLCs are eliminated, the net assets of the LLCs appear as assets on the previous page (and in table 1 and table 8), and the liabilities of the LLCs to entities other than the FRBNY, including those with recourse only to the portfolio holdings of the LLCs, are included in other liabilities in this table (and table 1 and table 8). 10. Collateral Held against Federal Reserve Notes: Federal Reserve Agents' Accounts Millions of dollars Federal Reserve notes and collateral Wednesday Nov 14, 2012 Federal Reserve notes outstanding 1,328,216 Less: Notes held by F.R. Banks not subject to collateralization 221,300 Federal Reserve notes to be collateralized 1,106,915 Collateral held against Federal Reserve notes 1,106,915 Gold certificate account 11,037 Special drawing rights certificate account 5,200 U.S. Treasury, agency debt, and mortgage-backed securities pledged (1,2) 1,090,679 Other assets pledged 0 Memo: Total U.S. Treasury, agency debt, and mortgage-backed securities (1,2) 2,627,755 Less: Face value of securities under reverse repurchase agreements 79,650 U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 2,548,105 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.