FEDERAL RESERVE statistical release For Release at 4:30 P.M. EDT June 12, 2014 Table 10 line items “Less: Face value of securities under reverse repurchase agreements” and “U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged” have been corrected to include securities pledged as collateral for tri-party reverse repurchase agreements. The revised data are reported at the following link: http://www.federalreserve.gov/releases/h41/2014update.htm. Historical data incorporating this correction 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 December 26, 2013 1. Factors Affecting Reserve Balances of Depository Institutions Millions of dollars Reserve Bank credit, related items, and Averages of daily figures Wednesday reserve balances of depository institutions at Week ended Change from week ended Dec 25, 2013 Federal Reserve Banks Dec 25, 2013 Dec 18, 2013 Dec 26, 2012 Reserve Bank credit 3,985,589 + 27,103 +1,107,187 3,989,373 Securities held outright (1) 3,759,255 + 26,373 +1,084,395 3,762,993 U.S. Treasury securities 2,204,930 + 12,670 + 548,264 2,208,829 Bills (2) 0 0 0 0 Notes and bonds, nominal (2) 2,099,952 + 12,733 + 528,966 2,103,872 Notes and bonds, inflation-indexed (2) 91,379 0 + 16,639 91,379 Inflation compensation (3) 13,599 - 63 + 2,658 13,578 Federal agency debt securities (2) 57,221 0 - 19,919 57,221 Mortgage-backed securities (4) 1,497,105 + 13,704 + 556,051 1,496,943 Unamortized premiums on securities held outright (5) 209,208 + 340 + 38,335 209,102 Unamortized discounts on securities held outright (5) -12,112 - 708 - 10,550 -12,372 Repurchase agreements (6) 0 0 0 0 Loans 193 + 25 - 447 192 Primary credit 27 + 21 + 10 25 Secondary credit 0 0 0 0 Seasonal credit 69 + 5 + 39 70 Term Asset-Backed Securities Loan Facility (7) 97 - 1 - 496 97 Other credit extensions 0 0 0 0 Net portfolio holdings of Maiden Lane LLC (8) 1,525 + 5 + 97 1,541 Net portfolio holdings of Maiden Lane II LLC (9) 63 0 + 2 63 Net portfolio holdings of Maiden Lane III LLC (10) 22 0 0 22 Net portfolio holdings of TALF LLC (11) 109 0 - 747 109 Float -627 - 7 + 17 -1,052 Central bank liquidity swaps (12) 273 0 - 8,616 273 Other Federal Reserve assets (13) 27,679 + 1,074 + 4,702 28,503 Foreign currency denominated assets (14) 23,797 - 160 - 1,445 23,786 Gold stock 11,041 0 0 11,041 Special drawing rights certificate account 5,200 0 0 5,200 Treasury currency outstanding (15) 45,516 + 14 + 767 45,516 Total factors supplying reserve funds 4,071,143 + 26,956 +1,106,510 4,074,916 Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table. 1. Factors Affecting Reserve Balances of Depository Institutions (continued) Millions of dollars Reserve Bank credit, related items, and Averages of daily figures Wednesday reserve balances of depository institutions at Week ended Change from week ended Dec 25, 2013 Federal Reserve Banks Dec 25, 2013 Dec 18, 2013 Dec 26, 2012 Currency in circulation (15) 1,235,884 + 6,160 + 72,341 1,238,524 Reverse repurchase agreements (16) 134,340 + 18,477 + 32,980 151,257 Foreign official and international accounts 104,595 + 4,444 + 3,235 109,012 Others 29,745 + 14,033 + 29,745 42,245 Treasury cash holdings 230 + 3 + 82 234 Deposits with F.R. Banks, other than reserve balances 162,479 + 49,756 + 33,547 169,603 Term deposits held by depository institutions 0 - 13,532 0 0 U.S. Treasury, General Account 99,122 + 28,550 + 43,559 93,893 Foreign official 7,989 + 6 + 1,826 7,980 Other 55,368 + 34,732 - 11,838 67,731 Other liabilities and capital (17) 64,056 - 293 - 3,112 64,567 Total factors, other than reserve balances, absorbing reserve funds 1,596,989 + 74,103 + 135,838 1,624,186 Reserve balances with Federal Reserve Banks 2,474,155 - 47,145 + 970,673 2,450,730 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. The current face value shown is the remaining principal balance of the securities. 5. Reflects the premium or discount, which is the difference between the purchase price and the face value of the securities that has not been amortized. For U.S. Treasury and Federal agency debt securities, amortization is on a straight-line basis. For mortgage-backed securities, amortization is on an effective-interest basis. 6. Cash value of agreements. 7. Includes credit extended by the Federal Reserve Bank of New York to eligible borrowers through the Term Asset-Backed Securities Loan Facility. 8. Refer to table 4 and the note on consolidation accompanying table 9. 9. Refer to table 5 and the note on consolidation accompanying table 9. 10. Refer to table 6 and the note on consolidation accompanying table 9. 11. Refer to table 7 and the note on consolidation accompanying 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 accrued interest, which represents the daily accumulation of interest earned, and other accounts receivable. Also, includes Reserve Bank premises and equipment net of allowances for depreciation. 14. Revalued daily at current foreign currency exchange rates. 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 Memorandum item Averages of daily figures Wednesday Week ended Change from week ended Dec 25, 2013 Dec 25, 2013 Dec 18, 2013 Dec 26, 2012 Securities held in custody for foreign official and international accounts 3,374,245 - 5,511 + 137,884 3,364,098 Marketable U.S. Treasury securities (1) 3,017,924 - 3,099 + 130,333 3,007,980 Federal agency debt and mortgage-backed securities (2) 312,922 - 2,525 + 164 312,705 Other securities (3) 43,399 + 114 + 7,388 43,413 Securities lent to dealers 13,097 + 1,851 + 4,426 13,112 Overnight facility (4) 13,097 + 1,851 + 4,426 13,112 U.S. Treasury securities 12,061 + 1,810 + 4,104 12,036 Federal agency debt securities 1,037 + 42 + 323 1,076 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 securities. 3. Includes non-marketable U.S. Treasury securities, supranationals, corporate bonds, asset-backed securities, and commercial paper at face value. 4. Face value. Fully collateralized by U.S. Treasury securities. 2. Maturity Distribution of Securities, Loans, and Selected Other Assets and Liabilities, December 25, 2013 Millions of dollars Remaining Maturity Within 15 16 days to 91 days to Over 1 year Over 5 year Over 10 All days 90 days 1 year to 5 years to 10 years years Loans (1) 95 0 64 33 0 ... 192 U.S. Treasury securities (2) Holdings 1 297 177 750,641 877,403 580,310 2,208,829 Weekly changes 0 0 0 + 2,633 + 5,797 + 3,107 + 11,537 Federal agency debt securities (3) Holdings 1,564 8,314 8,666 36,268 62 2,347 57,221 Weekly changes + 1,564 - 1,564 0 0 0 0 0 Mortgage-backed securities (4) Holdings 0 0 0 5 2,581 1,494,357 1,496,943 Weekly changes 0 0 0 0 0 + 11,537 + 11,536 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) 114 159 0 0 0 0 273 Reverse repurchase agreements (6) 151,257 0 ... ... ... ... 151,257 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. The current face value shown is the remaining principal balance of the securities. 5. Face value of asset-backed securities held by TALF LLC, which is the remaining principal balance of the underlying assets. 6. Cash value of agreements. 7. Dollar value of foreign currency held under these agreements valued at the exchange rate to be used when the foreign currency is returned to the foreign central bank. This exchange rate equals the market exchange rate used when the foreign currency was acquired from the foreign central bank. 3. Supplemental Information on Mortgage-Backed Securities Millions of dollars Account name Wednesday Dec 25, 2013 Mortgage-backed securities held outright (1) 1,496,943 Commitments to buy mortgage-backed securities (2) 51,586 Commitments to sell mortgage-backed securities (2) 0 Cash and cash equivalents (3) 22 1. Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. The current face value shown is the remaining principal balance of the securities. 2. Current face value. Generally settle within 180 days and include commitments associated with outright transactions, dollar rolls, and coupon swaps. 3. This amount is included in other Federal Reserve assets in table 1 and in other assets in table 8 and table 9. 4. Information on Principal Accounts of Maiden Lane LLC Millions of dollars Account name Wednesday Dec 25, 2013 Net portfolio holdings of Maiden Lane LLC (1) 1,541 Outstanding principal amount of loan extended by the Federal Reserve Bank of New York (2) 0 Accrued interest payable to the Federal Reserve Bank of New York (2) 0 Outstanding principal amount and accrued interest on loan payable to JPMorgan Chase & Co. (3) 0 1. Fair value. Fair value reflects an estimate of the price that would be received upon selling an asset if the transaction were to be conducted in an orderly market on the measurement date. Revalued quarterly. This table reflects valuations as of September 30, 2013. Any assets purchased after this valuation date are initially recorded at cost until their estimated fair value as of the purchase date becomes available. 2. Book value. This amount was eliminated when preparing the Federal Reserve Bank of New York's statement of condition consistent with consolidation under generally accepted accounting principles. Refer to the note on consolidation accompanying table 9. 3. Book value. The fair value of these obligations is included in other liabilities and capital in table 1 and in other liabilities and accrued dividends in table 8 and table 9. Note: On June 26, 2008, the Federal Reserve Bank of New York (FRBNY) extended credit to Maiden Lane LLC under the authority of section 13(3) of the Federal Reserve Act. This limited liability company was formed to acquire certain assets of Bear Stearns and to manage those assets through time to maximize repayment of the credit extended and to minimize disruption to financial markets. Payments by Maiden Lane LLC from the proceeds of the net portfolio holdings will be made in the following order: operating expenses of the LLC, principal due to the FRBNY, interest due to the FRBNY, principal due to JPMorgan Chase & Co., and interest due to JPMorgan Chase & Co. Any remaining funds will be paid to the FRBNY. 5. Information on Principal Accounts of Maiden Lane II LLC Millions of dollars Account name Wednesday Dec 25, 2013 Net portfolio holdings of Maiden Lane II LLC (1) 63 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, 2013. Any assets purchased after this valuation date are initially recorded at cost until their estimated fair value as of the purchase date becomes available. 2. Book value. This amount was eliminated when preparing the Federal Reserve Bank of New York's statement of condition consistent with consolidation under generally accepted accounting principles. Refer to the note on consolidation accompanying table 9. 3. Book value. The deferred payment represents the portion of the proceeds of the net portfolio holdings due to subsidiaries of American International Group, Inc. in accordance with the asset purchase agreement. The fair value of this payment and accrued interest payable are included in other liabilities and capital in table 1 and in other liabilities and accrued dividends in table 8 and table 9. Note: On December 12, 2008, the Federal Reserve Bank of New York (FRBNY) began extending credit to Maiden Lane II LLC under the authority of section 13(3) of the Federal Reserve Act. This limited liability company was formed to purchase residential mortgage-backed securities from the U.S. securities lending reinvestment portfolio of subsidiaries of American International Group, Inc. (AIG subsidiaries). Payments by Maiden Lane II LLC from the proceeds of the net portfolio holdings will be made in the following order: operating expenses of Maiden Lane II LLC, principal due to the FRBNY, interest due to the FRBNY, and deferred payment and interest due to AIG subsidiaries. Any remaining funds will be shared by the FRBNY and AIG subsidiaries. 6. Information on Principal Accounts of Maiden Lane III LLC Millions of dollars Account name Wednesday Dec 25, 2013 Net portfolio holdings of Maiden Lane III LLC (1) 22 Outstanding principal amount of loan extended by the Federal Reserve Bank of New York (2) 0 Accrued interest payable to the Federal Reserve Bank of New York (2) 0 Outstanding principal amount and accrued interest on loan payable to American International Group, Inc. (3) 0 1. Fair value. Fair value reflects an estimate of the price that would be received upon selling an asset if the transaction were to be conducted in an orderly market on the measurement date. Revalued quarterly. This table reflects valuations as of September 30, 2013. Any assets purchased after this valuation date are initially recorded at cost until their estimated fair value as of the purchase date becomes available. 2. Book value. This amount was eliminated when preparing the Federal Reserve Bank of New York's statement of condition consistent with consolidation under generally accepted accounting principles. Refer to the note on consolidation accompanying table 9. 3. Book value. The fair value of these obligations is included in other liabilities and capital in table 1 and in other liabilities and accrued dividends in table 8 and table 9. Note: On November 25, 2008, the Federal Reserve Bank of New York (FRBNY) began extending credit to Maiden Lane III LLC under the authority of section 13(3) of the Federal Reserve Act. This limited liability company was formed to purchase multi-sector collateralized debt obligations (CDOs) on which the Financial Products group of American International Group, Inc. (AIG) has written credit default swap (CDS) contracts. In connection with the purchase of CDOs, the CDS counterparties will concurrently unwind the related CDS transactions. Payments by Maiden Lane III LLC from the proceeds of the net portfolio holdings will be made in the following order: operating expenses of Maiden Lane III LLC, principal due to the FRBNY, interest due to the FRBNY, principal due to AIG, and interest due to AIG. Any remaining funds will be shared by the FRBNY and AIG. 7. Information on Principal Accounts of TALF LLC Millions of dollars Account name Wednesday Dec 25, 2013 Asset-backed securities holdings (1) 0 Other investments, net 109 Net portfolio holdings of TALF LLC 109 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) 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. 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) extended loans with a term of up to five years to holders of eligible asset-backed securities. The Federal Reserve closed the TALF for new loan extensions in 2010. 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. 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. Prior to January 15, 2013, the U.S. Treasury's Troubled Asset Relief Program (TARP) committed backup funding to TALF LLC, providing credit protection to the FRBNY. However, the accumulated fees and income collected through the TALF and held by TALF LLC now exceed the remaining amount of TALF loans outstanding. Accordingly, the TARP credit protection commitment has been terminated, and TALF LLC has begun to distribute excess proceeds to the Treasury and the FRBNY. Any remaining funds will be shared by the FRBNY and the U.S. Treasury. 8. Consolidated Statement of Condition of All Federal Reserve Banks Millions of dollars Assets, liabilities, and capital Eliminations Wednesday Change since from Dec 25, 2013 Wednesday Wednesday consolidation Dec 18, 2013 Dec 26, 2012 Assets Gold certificate account 11,037 0 0 Special drawing rights certificate account 5,200 0 0 Coin 1,963 - 1 - 151 Securities, unamortized premiums and discounts, repurchase agreements, and loans 3,959,914 + 22,643 +1,129,844 Securities held outright (1) 3,762,993 + 23,074 +1,102,722 U.S. Treasury securities 2,208,829 + 11,537 + 551,899 Bills (2) 0 0 0 Notes and bonds, nominal (2) 2,103,872 + 11,598 + 532,620 Notes and bonds, inflation-indexed (2) 91,379 0 + 16,639 Inflation compensation (3) 13,578 - 61 + 2,640 Federal agency debt securities (2) 57,221 0 - 19,562 Mortgage-backed securities (4) 1,496,943 + 11,536 + 570,385 Unamortized premiums on securities held outright (5) 209,102 + 220 + 38,358 Unamortized discounts on securities held outright (5) -12,372 - 661 - 10,813 Repurchase agreements (6) 0 0 0 Loans 192 + 11 - 421 Net portfolio holdings of Maiden Lane LLC (7) 1,541 + 22 + 129 Net portfolio holdings of Maiden Lane II LLC (8) 63 0 + 2 Net portfolio holdings of Maiden Lane III LLC (9) 22 0 0 Net portfolio holdings of TALF LLC (10) 109 0 - 747 Items in process of collection (0) 161 + 62 + 15 Bank premises 2,290 + 3 - 49 Central bank liquidity swaps (11) 273 0 - 8,616 Foreign currency denominated assets (12) 23,786 - 190 - 1,363 Other assets (13) 26,216 + 1,973 + 6,211 Total assets (0) 4,032,575 + 24,513 +1,125,275 Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table. 8. Consolidated Statement of Condition of All Federal Reserve Banks (continued) Millions of dollars Assets, liabilities, and capital Eliminations Wednesday Change since from Dec 25, 2013 Wednesday Wednesday consolidation Dec 18, 2013 Dec 26, 2012 Liabilities Federal Reserve notes, net of F.R. Bank holdings 1,195,201 + 6,025 + 70,623 Reverse repurchase agreements (14) 151,257 + 39,291 + 51,404 Deposits (0) 2,620,337 - 22,744 +1,003,080 Term deposits held by depository institutions 0 - 13,532 0 Other deposits held by depository institutions 2,450,733 - 15,199 + 918,046 U.S. Treasury, General Account 93,893 - 23,105 + 38,214 Foreign official 7,980 + 7 + 1,817 Other (0) 67,731 + 29,085 + 45,002 Deferred availability cash items (0) 1,214 + 421 + 385 Other liabilities and accrued dividends (15) 9,549 + 1,488 - 507 Total liabilities (0) 3,977,557 + 24,480 +1,124,985 Capital accounts Capital paid in 27,509 + 17 + 145 Surplus 27,509 + 17 + 145 Other capital accounts 0 0 0 Total capital 55,018 + 34 + 290 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. The current face value shown is the remaining principal balance of the securities. 5. Reflects the premium or discount, which is the difference between the purchase price and the face value of the securities that has not been amortized. For U.S. Treasury and Federal agency debt securities, amortization is on a straight-line basis. For mortgage-backed securities, amortization is on an effective-interest basis. 6. Cash value of agreements, which are collateralized by U.S. Treasury and federal agency securities. 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. Revalued daily at current foreign currency exchange rates. 13. Includes accrued interest, which represents the daily accumulation of interest earned, and other accounts receivable. 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. 9. Statement of Condition of Each Federal Reserve Bank, December 25, 2013 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 11,037 391 3,925 397 512 856 1,421 792 310 190 309 728 1,206 Special drawing rights certificate acct. 5,200 196 1,818 210 237 412 654 424 150 90 153 282 574 Coin 1,963 36 82 123 131 338 238 282 19 48 152 181 333 Securities, unamortized premiums and discounts, repurchase agreements, and loans 3,959,914 103,545 2,195,925 114,730 101,127 246,232 263,045 213,993 63,721 37,597 74,930 153,766 391,304 Securities held outright (1) 3,762,993 98,398 2,086,734 109,030 96,103 233,986 249,971 203,339 60,548 35,708 71,192 146,126 371,859 U.S. Treasury securities 2,208,829 57,759 1,224,886 63,999 56,411 137,347 146,730 119,357 35,541 20,960 41,789 85,774 218,276 Bills (2) 0 0 0 0 0 0 0 0 0 0 0 0 0 Notes and bonds (3) 2,208,829 57,759 1,224,886 63,999 56,411 137,347 146,730 119,357 35,541 20,960 41,789 85,774 218,276 Federal agency debt securities (2) 57,221 1,496 31,731 1,658 1,461 3,558 3,801 3,092 921 543 1,083 2,222 5,655 Mortgage-backed securities (4) 1,496,943 39,144 830,116 43,373 38,230 93,081 99,440 80,890 24,086 14,205 28,321 58,130 147,928 Unamortized premiums on securities held outright (5) 209,102 5,468 115,955 6,059 5,340 13,002 13,890 11,299 3,365 1,984 3,956 8,120 20,663 Unamortized discounts on securities held outright (5) -12,372 -324 -6,861 -358 -316 -769 -822 -669 -199 -117 -234 -480 -1,223 Repurchase agreements (6) 0 0 0 0 0 0 0 0 0 0 0 0 0 Loans 192 2 97 0 0 13 6 24 8 23 16 0 4 Net portfolio holdings of Maiden Lane LLC (7) 1,541 0 1,541 0 0 0 0 0 0 0 0 0 0 Net portfolio holdings of Maiden Lane II LLC (8) 63 0 63 0 0 0 0 0 0 0 0 0 0 Net portfolio holdings of Maiden Lane III LLC (9) 22 0 22 0 0 0 0 0 0 0 0 0 0 Net portfolio holdings of TALF LLC (10) 109 0 109 0 0 0 0 0 0 0 0 0 0 Items in process of collection 161 0 0 0 0 0 125 0 0 37 0 0 0 Bank premises 2,290 122 433 72 111 228 211 203 127 100 247 232 204 Central bank liquidity swaps (11) 273 13 87 21 21 57 16 8 2 1 3 4 39 Foreign currency denominated assets (12) 23,786 1,169 7,606 1,840 1,855 4,995 1,355 678 198 100 241 377 3,373 Other assets (13) 26,216 720 14,070 766 678 1,794 1,749 1,412 473 310 518 1,158 2,569 Interdistrict settlement account 0 - 18,814 + 265,034 - 24,747 - 7,667 - 31,688 - 57,481 - 62,199 - 21,448 - 16,159 - 27,412 - 38,510 + 41,091 Total assets 4,032,575 87,378 2,490,716 93,412 97,005 223,224 211,331 155,594 43,552 22,313 49,140 118,218 440,692 Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table. 9. Statement of Condition of Each Federal Reserve Bank, December 25, 2013 (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 1,405,929 45,899 513,620 42,738 59,318 106,097 171,075 87,737 34,949 21,932 37,242 121,099 164,223 Less: Notes held by F.R. Banks 210,728 10,310 40,535 6,273 5,562 9,321 18,694 14,352 3,343 9,400 10,560 53,677 28,700 Federal Reserve notes, net 1,195,201 35,589 473,085 36,465 53,756 96,776 152,381 73,385 31,606 12,532 26,682 67,421 135,522 Reverse repurchase agreements (14) 151,257 3,955 83,878 4,383 3,863 9,405 10,048 8,173 2,434 1,435 2,862 5,874 14,947 Deposits 2,620,337 45,058 1,911,049 48,098 34,695 104,734 44,172 72,019 8,851 7,683 18,827 43,639 281,512 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 2,450,733 45,051 1,741,659 48,074 34,691 104,609 44,160 71,995 8,851 7,683 18,825 43,636 281,498 U.S. Treasury, General Account 93,893 0 93,893 0 0 0 0 0 0 0 0 0 0 Foreign official 7,980 2 7,952 3 3 8 2 1 0 0 0 1 6 Other 67,731 4 67,545 21 0 117 10 23 0 0 1 2 8 Deferred availability cash items 1,214 0 0 0 0 0 949 0 0 265 0 0 0 Interest on Federal Reserve notes due to U.S. Treasury (15) 3,226 76 1,881 78 62 149 224 178 52 31 62 133 299 Other liabilities and accrued dividends (16) 6,323 198 3,127 252 255 688 394 320 147 134 129 230 450 Total liabilities 3,977,557 84,876 2,473,021 89,275 92,630 211,752 208,168 154,075 43,090 22,081 48,561 117,298 432,731 Capital Capital paid in 27,509 1,251 8,847 2,068 2,188 5,736 1,582 760 231 116 290 460 3,981 Surplus 27,509 1,251 8,847 2,068 2,188 5,736 1,582 760 231 116 290 460 3,981 Other capital 0 0 0 0 0 0 0 0 0 0 0 0 0 Total liabilities and capital 4,032,575 87,378 2,490,716 93,412 97,005 223,224 211,331 155,594 43,552 22,313 49,140 118,218 440,692 Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table. 9. Statement of Condition of Each Federal Reserve Bank, December 25, 2013 (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. The current face value shown is the remaining principal balance of the securities. 5. Reflects the premium or discount, which is the difference between the purchase price and the face value of the securities that has not been amortized. For U.S. Treasury and Federal agency debt securities, amortization is on a straight-line basis. For mortgage-backed securities, amortization is on an effective-interest basis. 6. Cash value of agreements, which are collateralized by U.S. Treasury and federal agency securities. 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. 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. Revalued daily at current foreign currency exchange rates. 13. Includes accrued interest, which represents the daily accumulation of interest earned, and other accounts receivable. 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. Note on consolidation: The Federal Reserve Bank of New York (FRBNY) has extended loans to several limited liability companies under the authority of section 13(3) of the Federal Reserve Act. On June 26, 2008, a loan was extended to Maiden Lane LLC, which was formed to acquire certain assets of Bear Stearns. On November 25, 2008, a loan was extended to Maiden Lane III LLC, which was formed to purchase multi-sector collateralized debt obligations on which the Financial Products group of the American International Group, Inc. has written credit default swap contracts. On December 12, 2008, a loan was extended to Maiden Lane II LLC, which was formed to purchase residential mortgage-backed securities from the U.S. securities lending reinvestment portfolio of subsidiaries of American International Group, Inc. On November 25, 2008, the Federal Reserve Board authorized the FRBNY to extend credit to TALF LLC, which was formed to purchase and manage any asset-backed securities received by the FRBNY in connection with the decision of a borrower not to repay a loan extended under the Term Asset-Backed Securities Loan Facility. The FRBNY is the primary beneficiary of TALF LLC, because of the two beneficiaries of the LLC, the FRBNY and the U.S. Treasury, the FRBNY is primarily responsible for directing the financial activities of TALF LLC. The FRBNY is the primary beneficiary of the other LLCs cited above because it will receive a majority of any residual returns of the LLCs and absorb a majority of any residual losses of the LLCs. Consistent with generally accepted accounting principles, the assets and liabilities of these LLCs have been consolidated with the assets and liabilities of the FRBNY in the preparation of the statements of condition shown on this release. As a consequence of the consolidation, the extensions of credit from the FRBNY to the LLCs are eliminated, the net assets of the LLCs appear as assets on the previous page (and in table 1 and table 8), and the liabilities of the LLCs to entities other than the FRBNY, including those with recourse only to the portfolio holdings of the LLCs, are included in other liabilities in this table (and table 1 and table 8). 10. Collateral Held against Federal Reserve Notes: Federal Reserve Agents' Accounts Millions of dollars Federal Reserve notes and collateral Wednesday Dec 25, 2013 Federal Reserve notes outstanding 1,405,929 Less: Notes held by F.R. Banks not subject to collateralization 210,728 Federal Reserve notes to be collateralized 1,195,201 Collateral held against Federal Reserve notes 1,195,201 Gold certificate account 11,037 Special drawing rights certificate account 5,200 U.S. Treasury, agency debt, and mortgage-backed securities pledged (1,2) 1,178,964 Other assets pledged 0 Memo: Total U.S. Treasury, agency debt, and mortgage-backed securities (1,2) 3,762,993 Less: Face value of securities under reverse repurchase agreements 144,833 U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 3,618,160 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.