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 March 13, 2014 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 Mar 12, 2014 Federal Reserve Banks Mar 12, 2014 Mar 5, 2014 Mar 13, 2013 Reserve Bank credit 4,134,543 + 11,160 +1,049,838 4,138,150 Securities held outright (1) 3,914,509 + 8,767 +1,045,203 3,917,478 U.S. Treasury securities 2,292,975 + 8,744 + 525,918 2,295,938 Bills (2) 0 0 0 0 Notes and bonds, nominal (2) 2,185,904 + 8,641 + 507,109 2,188,835 Notes and bonds, inflation-indexed (2) 93,608 + 3 + 15,912 93,608 Inflation compensation (3) 13,462 + 99 + 2,895 13,495 Federal agency debt securities (2) 51,411 0 - 22,177 51,411 Mortgage-backed securities (4) 1,570,123 + 23 + 541,463 1,570,129 Unamortized premiums on securities held outright (5) 208,912 - 329 + 22,695 208,797 Unamortized discounts on securities held outright (5) -16,113 - 364 - 14,447 -16,282 Repurchase agreements (6) 0 0 0 0 Loans 105 + 5 - 287 104 Primary credit 6 + 2 0 4 Secondary credit 0 0 0 0 Seasonal credit 5 + 3 + 5 6 Term Asset-Backed Securities Loan Facility (7) 95 0 - 291 95 Other credit extensions 0 0 0 0 Net portfolio holdings of Maiden Lane LLC (8) 1,582 + 1 + 187 1,585 Net portfolio holdings of Maiden Lane II LLC (9) 63 0 + 1 63 Net portfolio holdings of Maiden Lane III LLC (10) 22 0 0 22 Net portfolio holdings of TALF LLC (11) 105 - 1 - 294 105 Float -675 - 26 - 85 -731 Central bank liquidity swaps (12) 457 - 1 - 7,531 457 Other Federal Reserve assets (13) 25,576 + 3,110 + 4,397 26,550 Foreign currency denominated assets (14) 24,110 - 23 + 339 24,186 Gold stock 11,041 0 0 11,041 Special drawing rights certificate account 5,200 0 0 5,200 Treasury currency outstanding (15) 45,679 + 14 + 749 45,679 Total factors supplying reserve funds 4,220,574 + 11,152 +1,050,927 4,224,256 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 Mar 12, 2014 Federal Reserve Banks Mar 12, 2014 Mar 5, 2014 Mar 13, 2013 Currency in circulation (15) 1,260,110 + 6,321 + 85,133 1,262,007 Reverse repurchase agreements (16) 159,583 - 38,602 + 68,278 161,627 Foreign official and international accounts 96,786 - 3,276 + 5,481 95,427 Others 62,797 - 35,326 + 62,797 66,200 Treasury cash holdings 272 + 2 + 47 278 Deposits with F.R. Banks, other than reserve balances 84,798 + 20,053 + 9,064 74,952 Term deposits held by depository institutions 13,542 + 13,542 + 13,542 13,542 U.S. Treasury, General Account 56,141 + 10,747 + 13,141 42,797 Foreign official 6,844 - 1,130 - 758 6,570 Other (17) 8,270 - 3,108 - 16,862 12,043 Other liabilities and capital (18) 63,790 + 965 - 2,660 62,705 Total factors, other than reserve balances, absorbing reserve funds 1,568,553 - 11,261 + 159,862 1,561,570 Reserve balances with Federal Reserve Banks 2,652,021 + 22,413 + 891,065 2,662,686 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 deposits held at the Reserve Banks by international and multilateral organizations, government-sponsored enterprises, and designated financial market utilities. 18. 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 Mar 12, 2014 Mar 12, 2014 Mar 5, 2014 Mar 13, 2013 Securities held in custody for foreign official and international accounts 3,273,729 - 47,579 - 17,444 3,206,307 Marketable U.S. Treasury securities (1) 2,921,999 - 46,596 - 34,028 2,855,397 Federal agency debt and mortgage-backed securities (2) 306,573 - 661 + 9,742 306,301 Other securities (3) 45,156 - 324 + 6,842 44,609 Securities lent to dealers 11,672 + 1,681 - 3,290 12,723 Overnight facility (4) 11,672 + 1,681 - 3,290 12,723 U.S. Treasury securities 10,258 + 1,530 - 3,770 11,374 Federal agency debt securities 1,413 + 150 + 479 1,349 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, March 12, 2014 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) 4 6 95 0 0 ... 104 U.S. Treasury securities (2) Holdings 0 40 141 828,168 859,084 608,506 2,295,938 Weekly changes 0 0 0 + 12 + 5,030 + 2,444 + 7,485 Federal agency debt securities (3) Holdings 4,068 3,261 7,205 34,468 62 2,347 51,411 Weekly changes 0 0 0 0 0 0 0 Mortgage-backed securities (4) Holdings 0 0 0 5 2,940 1,567,183 1,570,129 Weekly changes 0 0 0 0 0 + 10 + 10 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) 100 357 0 0 0 0 457 Reverse repurchase agreements (6) 161,627 0 ... ... ... ... 161,627 Term deposits 13,542 0 0 ... ... ... 13,542 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 Mar 12, 2014 Mortgage-backed securities held outright (1) 1,570,129 Commitments to buy mortgage-backed securities (2) 67,843 Commitments to sell mortgage-backed securities (2) 0 Cash and cash equivalents (3) 11 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 Mar 12, 2014 Net portfolio holdings of Maiden Lane LLC (1) 1,585 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 December 31, 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 Mar 12, 2014 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 December 31, 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 Mar 12, 2014 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 December 31, 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 Mar 12, 2014 Asset-backed securities holdings (1) 0 Other investments, net 105 Net portfolio holdings of TALF LLC 105 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 Mar 12, 2014 Wednesday Wednesday consolidation Mar 5, 2014 Mar 13, 2013 Assets Gold certificate account 11,037 0 0 Special drawing rights certificate account 5,200 0 0 Coin 1,967 - 22 - 182 Securities, unamortized premiums and discounts, repurchase agreements, and loans 4,110,098 + 6,851 +1,019,216 Securities held outright (1) 3,917,478 + 7,496 +1,013,035 U.S. Treasury securities 2,295,938 + 7,485 + 525,951 Bills (2) 0 0 0 Notes and bonds, nominal (2) 2,188,835 + 7,396 + 508,469 Notes and bonds, inflation-indexed (2) 93,608 0 + 14,729 Inflation compensation (3) 13,495 + 89 + 2,753 Federal agency debt securities (2) 51,411 0 - 22,177 Mortgage-backed securities (4) 1,570,129 + 10 + 509,260 Unamortized premiums on securities held outright (5) 208,797 - 318 + 21,079 Unamortized discounts on securities held outright (5) -16,282 - 331 - 14,605 Repurchase agreements (6) 0 0 0 Loans 104 + 3 - 293 Net portfolio holdings of Maiden Lane LLC (7) 1,585 + 4 + 183 Net portfolio holdings of Maiden Lane II LLC (8) 63 0 - 1 Net portfolio holdings of Maiden Lane III LLC (9) 22 0 0 Net portfolio holdings of TALF LLC (10) 105 - 1 - 294 Items in process of collection (0) 91 - 8 - 483 Bank premises 2,275 + 1 - 27 Central bank liquidity swaps (11) 457 - 1 - 7,531 Foreign currency denominated assets (12) 24,186 + 150 + 491 Other assets (13) 24,275 + 2,626 + 4,593 Total assets (0) 4,181,361 + 9,599 +1,015,965 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 Mar 12, 2014 Wednesday Wednesday consolidation Mar 5, 2014 Mar 13, 2013 Liabilities Federal Reserve notes, net of F.R. Bank holdings 1,218,569 + 3,495 + 85,274 Reverse repurchase agreements (14) 161,627 - 11,099 + 69,437 Deposits (0) 2,737,638 + 17,418 + 865,599 Term deposits held by depository institutions 13,542 + 13,542 + 13,542 Other deposits held by depository institutions 2,662,686 + 3,617 + 860,097 U.S. Treasury, General Account 42,797 - 2,947 + 14,349 Foreign official 6,570 - 1,402 - 1,030 Other (15) (0) 12,043 + 4,608 - 21,360 Deferred availability cash items (0) 822 - 91 - 397 Other liabilities and accrued dividends (16) 6,629 - 126 - 4,933 Total liabilities (0) 4,125,285 + 9,597 +1,014,980 Capital accounts Capital paid in 28,038 + 1 + 492 Surplus 28,038 + 1 + 492 Other capital accounts 0 0 0 Total capital 56,076 + 2 + 985 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 deposits held at the Reserve Banks by international and multilateral organizations, government-sponsored enterprises, and designated financial market utilities. 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 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, March 12, 2014 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 1,967 38 95 125 130 337 221 279 18 48 154 180 342 Securities, unamortized premiums and discounts, repurchase agreements, and loans 4,110,098 107,472 2,279,255 119,084 104,965 255,563 273,021 222,093 66,132 39,005 77,758 159,601 406,149 Securities held outright (1) 3,917,478 102,438 2,172,402 113,506 100,048 243,592 260,233 211,687 63,033 37,174 74,114 152,125 387,125 U.S. Treasury securities 2,295,938 60,036 1,273,192 66,523 58,636 142,763 152,516 124,064 36,942 21,787 43,437 89,157 226,885 Bills (2) 0 0 0 0 0 0 0 0 0 0 0 0 0 Notes and bonds (3) 2,295,938 60,036 1,273,192 66,523 58,636 142,763 152,516 124,064 36,942 21,787 43,437 89,157 226,885 Federal agency debt securities (2) 51,411 1,344 28,510 1,490 1,313 3,197 3,415 2,778 827 488 973 1,996 5,080 Mortgage-backed securities (4) 1,570,129 41,057 870,701 45,493 40,099 97,632 104,302 84,844 25,264 14,899 29,705 60,972 155,160 Unamortized premiums on securities held outright (5) 208,797 5,460 115,787 6,050 5,332 12,983 13,870 11,283 3,360 1,981 3,950 8,108 20,633 Unamortized discounts on securities held outright (5) -16,282 -426 -9,029 -472 -416 -1,012 -1,082 -880 -262 -154 -308 -632 -1,609 Repurchase agreements (6) 0 0 0 0 0 0 0 0 0 0 0 0 0 Loans 104 0 95 0 0 0 0 3 1 5 1 0 0 Net portfolio holdings of Maiden Lane LLC (7) 1,585 0 1,585 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) 105 0 105 0 0 0 0 0 0 0 0 0 0 Items in process of collection 91 0 0 0 0 0 91 0 0 0 0 0 0 Bank premises 2,275 123 428 72 110 227 211 201 126 99 246 230 203 Central bank liquidity swaps (11) 457 21 147 34 36 95 26 13 4 2 5 8 66 Foreign currency denominated assets (12) 24,186 1,100 7,780 1,818 1,923 5,043 1,390 668 203 102 255 404 3,499 Other assets (13) 24,275 662 13,111 829 615 1,658 1,599 1,285 435 290 471 973 2,346 Interdistrict settlement account 0 - 23,549 + 247,731 - 3,490 - 18,033 - 30,464 - 62,055 - 70,800 - 18,984 - 15,797 - 26,939 - 32,038 + 54,418 Total assets 4,181,361 86,454 2,556,065 119,079 90,495 233,728 216,580 154,954 48,394 24,030 52,411 130,368 468,803 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, March 12, 2014 (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 1,398,834 44,167 515,605 42,543 60,541 102,807 167,958 88,157 36,242 20,967 36,957 118,770 164,121 Less: Notes held by F.R. Banks 180,265 3,513 35,920 3,931 7,390 8,828 15,662 12,989 3,972 7,312 9,717 42,919 28,111 Federal Reserve notes, net 1,218,569 40,653 479,684 38,612 53,150 93,979 152,296 75,168 32,270 13,655 27,240 75,851 136,010 Reverse repurchase agreements (14) 161,627 4,226 89,629 4,683 4,128 10,050 10,737 8,734 2,601 1,534 3,058 6,276 15,972 Deposits 2,737,638 38,822 1,965,349 71,297 28,559 117,581 49,215 69,146 12,871 8,320 21,362 47,044 308,071 Term deposits held by depository institutions 13,542 10 10,710 0 0 15 955 1,355 40 52 0 205 200 Other deposits held by depository institutions 2,662,686 38,809 1,893,421 71,264 28,556 117,441 48,251 67,783 12,831 8,268 21,361 46,837 307,864 U.S. Treasury, General Account 42,797 0 42,797 0 0 0 0 0 0 0 0 0 0 Foreign official 6,570 2 6,543 3 3 8 2 1 0 0 0 1 6 Other (15) 12,043 1 11,878 30 0 117 6 7 0 0 1 1 1 Deferred availability cash items 822 0 0 0 0 0 671 0 0 151 0 0 0 Interest on Federal Reserve notes due to U.S. Treasury (16) 2,226 58 1,228 71 61 153 143 117 34 22 42 81 217 Other liabilities and accrued dividends (17) 4,403 162 1,832 196 191 491 335 269 135 115 118 195 363 Total liabilities 4,125,285 83,921 2,537,722 114,860 86,090 222,253 213,396 153,434 47,910 23,796 51,820 129,448 460,633 Capital Capital paid in 28,038 1,267 9,172 2,110 2,202 5,737 1,592 760 242 117 295 460 4,085 Surplus 28,038 1,267 9,172 2,110 2,202 5,737 1,592 760 242 117 295 460 4,085 Other capital 0 0 0 0 0 0 0 0 0 0 0 0 0 Total liabilities and capital 4,181,361 86,454 2,556,065 119,079 90,495 233,728 216,580 154,954 48,394 24,030 52,411 130,368 468,803 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, March 12, 2014 (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. Includes deposits held at the Reserve Banks by international and multilateral organizations, government-sponsored enterprises, and designated financial market utilities. 16. 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. 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 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 Mar 12, 2014 Federal Reserve notes outstanding 1,398,834 Less: Notes held by F.R. Banks not subject to collateralization 180,265 Federal Reserve notes to be collateralized 1,218,569 Collateral held against Federal Reserve notes 1,218,569 Gold certificate account 11,037 Special drawing rights certificate account 5,200 U.S. Treasury, agency debt, and mortgage-backed securities pledged (1,2) 1,202,332 Other assets pledged 0 Memo: Total U.S. Treasury, agency debt, and mortgage-backed securities (1,2) 3,917,478 Less: Face value of securities under reverse repurchase agreements 157,439 U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 3,760,039 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.