FRB: H.4.1 Release--Factors Affecting Reserve Balances--June 18, 2015

FEDERAL RESERVE statistical release

H.4.1

Factors Affecting Reserve Balances of Depository Institutions and
Condition Statement of Federal Reserve Banks June 18, 2015

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 Jun 17, 2015
Federal Reserve Banks Jun 17, 2015 Jun 10, 2015 Jun 18, 2014

Reserve Bank credit 4,451,663 + 23,065 + 129,241 4,449,576
Securities held outright (1) 4,239,695 + 20,581 + 139,206 4,237,629
U.S. Treasury securities 2,460,837 + 54 + 72,320 2,460,857
Bills (2) 0 0 0 0
Notes and bonds, nominal (2) 2,346,642 - 1 + 70,374 2,346,642
Notes and bonds, inflation-indexed (2) 98,534 0 + 1,863 98,534
Inflation compensation (3) 15,661 + 55 + 83 15,681
Federal agency debt securities (2) 35,895 0 - 8,127 35,895
Mortgage-backed securities (4) 1,742,963 + 20,527 + 75,012 1,740,877
Unamortized premiums on securities held outright (5) 199,333 + 257 - 10,499 199,138
Unamortized discounts on securities held outright (5) -17,597 + 34 + 714 -17,582
Repurchase agreements (6) 0 0 0 0
Loans 149 + 26 - 18 193
Primary credit 14 + 8 - 4 54
Secondary credit 0 0 0 0
Seasonal credit 135 + 19 + 35 139
Term Asset-Backed Securities Loan Facility (7) 0 0 - 50 0
Other credit extensions 0 0 0 0
Net portfolio holdings of Maiden Lane LLC (8) 1,696 - 3 + 42 1,696
Net portfolio holdings of Maiden Lane II LLC (9) 0 0 - 63 0
Net portfolio holdings of Maiden Lane III LLC (9) 0 0 - 22 0
Net portfolio holdings of TALF LLC (10) 0 0 - 90 0
Float -359 + 31 + 257 -277
Central bank liquidity swaps (11) 114 + 114 - 62 114
Other Federal Reserve assets (12) 28,633 + 2,026 - 224 28,664
Foreign currency denominated assets (13) 19,859 + 140 - 4,023 19,794
Gold stock 11,041 0 0 11,041
Special drawing rights certificate account 5,200 0 0 5,200
Treasury currency outstanding (14) 46,825 + 14 + 897 46,825

Total factors supplying reserve funds 4,534,589 + 23,220 + 126,116 4,532,437

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 Jun 17, 2015
Federal Reserve Banks Jun 17, 2015 Jun 10, 2015 Jun 18, 2014

Currency in circulation (14) 1,364,956 - 1,777 + 86,092 1,365,214
Reverse repurchase agreements (15) 246,865 + 15,666 + 70,709 261,449
Foreign official and international accounts 151,809 + 4,490 + 47,403 150,741
Others 95,056 + 11,176 + 23,306 110,708
Treasury cash holdings 134 - 60 - 44 135
Deposits with F.R. Banks, other than reserve balances 233,999 + 41,851 + 49,739 264,749
Term deposits held by depository institutions 0 0 - 77,769 0
U.S. Treasury, General Account 207,648 + 29,180 + 123,173 251,369
Foreign official 5,246 + 5 - 705 5,242
Other (16) 21,105 + 12,666 + 5,041 8,138
Other liabilities and capital (17) 67,331 + 517 + 2,241 65,383

Total factors, other than reserve balances,
absorbing reserve funds 1,913,285 + 56,197 + 208,737 1,956,930

Reserve balances with Federal Reserve Banks 2,621,304 - 32,977 - 82,621 2,575,506

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 6.
9. 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. Refer to the
note on consolidation accompanying table 6.
10. Refer to the note on consolidation accompanying table 6.
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 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.
13. Revalued daily at current foreign currency exchange rates.
14. Estimated.
15. Cash value of agreements, which are collateralized by U.S. Treasury securities, federal agency debt
securities, and mortgage-backed securities.
16. Includes deposits held at the Reserve Banks by international and multilateral organizations,
government-sponsored enterprises, and designated financial market utilities.
17. Includes the liability for interest on Federal Reserve notes due to U.S. Treasury.

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 Jun 17, 2015
Jun 17, 2015 Jun 10, 2015 Jun 18, 2014

Securities held in custody for foreign official and
international accounts 3,364,963 + 8,165 + 58,546 3,365,402
Marketable U.S. Treasury securities (1) 3,022,422 - 2,800 + 50,206 3,023,634
Federal agency debt and mortgage-backed securities (2) 298,265 + 10,750 + 5,620 297,202
Other securities (3) 44,275 + 214 + 2,719 44,566
Securities lent to dealers 11,143 + 1,011 - 1,547 10,873
Overnight facility (4) 11,143 + 1,011 - 1,547 10,873
U.S. Treasury securities 10,974 + 1,044 - 677 10,734
Federal agency debt securities 169 - 33 - 871 139

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, 5, and 6.
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, June 17, 2015

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 169 24 0 0 0 ... 193
U.S. Treasury securities (1)
Holdings 1 1,288 129,567 1,098,756 586,965 644,280 2,460,857
Weekly changes + 1 - 1 0 + 8 + 11 + 36 + 54
Federal agency debt securities (2)
Holdings 0 802 9,997 22,749 0 2,347 35,895
Weekly changes 0 0 0 0 0 0 0
Mortgage-backed securities (3)
Holdings 0 0 0 36 9,484 1,731,357 1,740,877
Weekly changes 0 0 0 0 - 25 + 18,465 + 18,440
Repurchase agreements (4) 0 0 ... ... ... ... 0
Central bank liquidity swaps (5) 114 0 0 0 0 0 114

Reverse repurchase agreements (4) 261,449 0 ... ... ... ... 261,449
Term deposits 0 0 0 ... ... ... 0

Note: Components may not sum to totals because of rounding.
...Not applicable.

1. 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.
2. Face value.
3. Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. The current face value shown is the
remaining principal balance of the securities.
4. Cash value of agreements.
5. 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
Jun 17, 2015

Mortgage-backed securities held outright (1) 1,740,877

Commitments to buy mortgage-backed securities (2) 32,448
Commitments to sell mortgage-backed securities (2) 0

Cash and cash equivalents (3) 66

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 5
and table 6.

4. Information on Principal Accounts of Maiden Lane LLC
Millions of dollars
Account name Wednesday
Jun 17, 2015

Net portfolio holdings of Maiden Lane LLC (1) 1,696

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 March 31, 2015. 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 6.
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 5 and table 6.

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. The remaining outstanding balances of the senior
loan from FRBNY to Maiden Lane LLC, and the subordinated loan from JPMorgan Chase & Co. to Maiden Lane LLC were
repaid in full, with interest.

5. Consolidated Statement of Condition of All Federal Reserve Banks
Millions of dollars
Assets, liabilities, and capital Eliminations Wednesday Change since
from Jun 17, 2015 Wednesday Wednesday
consolidation Jun 10, 2015 Jun 18, 2014

Assets
Gold certificate account 11,037 0 0
Special drawing rights certificate account 5,200 0 0
Coin 1,844 + 15 - 52
Securities, unamortized premiums and discounts,
repurchase agreements, and loans 4,419,378 + 18,779 + 124,231
Securities held outright (1) 4,237,629 + 18,494 + 134,107
U.S. Treasury securities 2,460,857 + 54 + 69,380
Bills (2) 0 0 0
Notes and bonds, nominal (2) 2,346,642 - 1 + 67,564
Notes and bonds, inflation-indexed (2) 98,534 0 + 1,763
Inflation compensation (3) 15,681 + 55 + 53
Federal agency debt securities (2) 35,895 0 - 7,764
Mortgage-backed securities (4) 1,740,877 + 18,440 + 72,491
Unamortized premiums on securities held outright
(5) 199,138 + 186 - 10,663
Unamortized discounts on securities held outright
(5) -17,582 + 38 + 761
Repurchase agreements (6) 0 0 0
Loans 193 + 61 + 25
Net portfolio holdings of Maiden Lane LLC (7) 1,696 0 + 42
Net portfolio holdings of Maiden Lane II LLC (8) 0 0 - 63
Net portfolio holdings of Maiden Lane III LLC (8) 0 0 - 22
Net portfolio holdings of TALF LLC (9) 0 0 - 90
Items in process of collection (0) 89 + 7 - 17
Bank premises 2,243 + 3 - 20
Central bank liquidity swaps (10) 114 + 114 - 62
Foreign currency denominated assets (11) 19,794 - 162 - 4,100
Other assets (12) 26,422 + 1,055 - 199

Total assets (0) 4,487,817 + 19,812 + 119,649

Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table.

5. Consolidated Statement of Condition of All Federal Reserve Banks (continued)
Millions of dollars
Assets, liabilities, and capital Eliminations Wednesday Change since
from Jun 17, 2015 Wednesday Wednesday
consolidation Jun 10, 2015 Jun 18, 2014

Liabilities
Federal Reserve notes, net of F.R. Bank holdings 1,320,363 - 1,690 + 84,591
Reverse repurchase agreements (13) 261,449 + 35,250 + 70,024
Deposits (0) 2,840,256 - 13,275 - 36,652
Term deposits held by depository institutions 0 0 - 77,769
Other deposits held by depository institutions 2,575,506 - 86,155 - 62,079
U.S. Treasury, General Account 251,369 + 78,451 + 103,750
Foreign official 5,242 + 1 - 709
Other (14) (0) 8,138 - 5,573 + 154
Deferred availability cash items (0) 366 - 178 - 361
Other liabilities and accrued dividends (15) 7,111 - 316 + 87

Total liabilities (0) 4,429,545 + 19,791 + 117,689

Capital accounts
Capital paid in 29,136 + 11 + 980
Surplus 29,136 + 11 + 980
Other capital accounts 0 0 0

Total capital 58,272 + 21 + 1,960

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 6.
8. 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. Refer to the
note on consolidation accompanying table 6.
9. Refer to the note on consolidation accompanying table 6.
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. Revalued daily at current foreign currency exchange rates.
12. Includes accrued interest, which represents the daily accumulation of interest earned, and other
accounts receivable.
13. Cash value of agreements, which are collateralized by U.S. Treasury securities, federal agency debt
securities, and mortgage-backed securities.
14. Includes deposits held at the Reserve Banks by international and multilateral organizations,
government-sponsored enterprises, and designated financial market utilities.
15. Includes the liability for interest on Federal Reserve notes due to U.S. Treasury.

6. Statement of Condition of Each Federal Reserve Bank, June 17, 2015
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 11,037 347 3,709 340 505 783 1,600 734 299 171 288 891 1,370
Special drawing rights certificate acct. 5,200 196 1,818 210 237 412 654 424 150 90 153 282 574
Coin 1,844 31 60 127 127 295 202 272 26 47 148 196 313
Securities, unamortized premiums and
discounts, repurchase agreements,
and loans 4,419,378 112,027 2,652,890 109,912 106,248 240,022 248,874 164,204 46,106 26,947 57,416 142,411 512,321
Securities held outright (1) 4,237,629 107,422 2,543,900 105,397 101,883 230,161 238,630 157,447 44,192 25,772 55,049 136,508 491,270
U.S. Treasury securities 2,460,857 62,381 1,477,282 61,206 59,165 133,658 138,576 91,432 25,663 14,966 31,968 79,272 285,288
Bills (2) 0 0 0 0 0 0 0 0 0 0 0 0 0
Notes and bonds (3) 2,460,857 62,381 1,477,282 61,206 59,165 133,658 138,576 91,432 25,663 14,966 31,968 79,272 285,288
Federal agency debt securities (2) 35,895 910 21,548 893 863 1,950 2,021 1,334 374 218 466 1,156 4,161
Mortgage-backed securities (4) 1,740,877 44,130 1,045,069 43,298 41,855 94,553 98,032 64,681 18,155 10,587 22,615 56,079 201,821
Unamortized premiums on securities held
outright (5) 199,138 5,048 119,545 4,953 4,788 10,816 11,214 7,399 2,077 1,211 2,587 6,415 23,086
Unamortized discounts on securities
held outright (5) -17,582 -446 -10,555 -437 -423 -955 -990 -653 -183 -107 -228 -566 -2,038
Repurchase agreements (6) 0 0 0 0 0 0 0 0 0 0 0 0 0
Loans 193 3 0 0 0 0 21 12 21 71 8 55 3
Net portfolio holdings of Maiden
Lane LLC (7) 1,696 0 1,696 0 0 0 0 0 0 0 0 0 0
Net portfolio holdings of Maiden
Lane II LLC (8) 0 0 0 0 0 0 0 0 0 0 0 0 0
Net portfolio holdings of Maiden
Lane III LLC (8) 0 0 0 0 0 0 0 0 0 0 0 0 0
Net portfolio holdings of TALF LLC (9) 0 0 0 0 0 0 0 0 0 0 0 0 0
Items in process of collection 89 0 0 0 0 0 89 0 0 0 0 0 0
Bank premises 2,243 125 436 73 108 216 209 203 119 94 239 221 197
Central bank liquidity swaps (10) 114 5 37 6 9 26 6 3 1 0 1 2 17
Foreign currency denominated
assets (11) 19,794 897 6,382 1,106 1,543 4,542 1,126 532 184 83 208 285 2,906
Other assets (12) 26,422 702 15,280 664 643 1,599 1,494 988 496 190 377 933 3,056
Interdistrict settlement account 0 + 6,897 - 54,422 + 10,863 + 23,859 + 8,013 - 12,418 + 8,972 + 3,999 + 3,858 + 2,658 + 10,086 - 12,365

Total assets 4,487,817 121,229 2,627,886 123,302 133,279 255,907 241,837 176,332 51,381 31,481 61,488 155,305 508,389

Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table.

6. Statement of Condition of Each Federal Reserve Bank, June 17, 2015 (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 1,505,690 49,753 487,195 50,788 79,717 104,214 207,798 105,847 46,104 26,440 41,691 119,419 186,723
Less: Notes held by F.R. Banks 185,326 5,768 64,215 5,587 9,710 12,486 23,502 11,371 5,060 2,735 4,832 14,250 25,810
Federal Reserve notes, net 1,320,363 43,984 422,980 45,201 70,007 91,728 184,297 94,476 41,044 23,705 36,860 105,169 160,913
Reverse repurchase agreements (13) 261,449 6,628 156,951 6,503 6,286 14,200 14,723 9,714 2,727 1,590 3,396 8,422 30,310
Deposits 2,840,256 67,793 2,025,448 67,984 52,219 136,133 38,820 70,224 6,888 5,667 20,477 40,598 308,005
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 2,575,506 67,783 1,760,916 67,982 52,216 135,992 38,811 70,221 6,851 5,667 20,476 40,595 307,997
U.S. Treasury, General Account 251,369 0 251,369 0 0 0 0 0 0 0 0 0 0
Foreign official 5,242 2 5,215 2 3 9 2 1 0 0 0 1 6
Other (14) 8,138 7 7,948 0 0 132 7 2 36 0 1 3 2
Deferred availability cash items 366 0 0 0 0 0 247 0 0 119 0 0 0
Interest on Federal Reserve notes due
to U.S. Treasury (15) 1,785 40 1,128 38 32 62 104 67 20 12 21 62 202
Other liabilities and accrued
dividends 5,326 182 2,339 228 249 638 364 272 139 135 126 195 460

Total liabilities 4,429,545 118,626 2,608,845 119,953 128,793 242,761 238,554 174,753 50,817 31,228 60,880 154,446 499,890

Capital
Capital paid in 29,136 1,302 9,520 1,675 2,243 6,573 1,641 790 282 127 304 430 4,250
Surplus 29,136 1,302 9,520 1,675 2,243 6,573 1,641 790 282 127 304 430 4,250
Other capital 0 0 0 0 0 0 0 0 0 0 0 0 0

Total liabilities and capital 4,487,817 121,229 2,627,886 123,302 133,279 255,907 241,837 176,332 51,381 31,481 61,488 155,305 508,389

Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table.

6. Statement of Condition of Each Federal Reserve Bank, June 17, 2015 (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. 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. Refer
to the note on consolidation below.
9. Refer to 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. Revalued daily at current foreign currency exchange rates.
12. Includes accrued interest, which represents the daily accumulation of interest earned, and other accounts receivable.
13. Cash value of agreements, which are collateralized by U.S. Treasury securities, federal agency debt securities, and mortgage-backed securities.
14. Includes deposits held at the Reserve Banks by international and multilateral organizations, government-sponsored enterprises, and designated financial market utilities.
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.

Note on consolidation:

The Federal Reserve Bank of New York (FRBNY) 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 June 14, 2012, the remaining outstanding balance of the senior loan from FRBNY to Maiden Lane LLC
was repaid in full, with interest. On November 15, 2012, the remaining outstanding balance of the subordinated loan from JPMorgan Chase & Co. to Maiden Lane LLC was repaid in full, with
interest. 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. had written credit default swap contracts. On June 14, 2012, the loan from FRBNY to Maiden Lane III was repaid in full, with interest. 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 March 1, 2012, the loan from FRBNY to Maiden Lane II was repaid in full, with interest. 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. On January 15, 2013 the FRBNY's commitment to extend credit to TALF LLC was eliminated.

The FRBNY was the primary beneficiary of TALF LLC, because of the two beneficiaries of the LLC, the FRBNY and the U.S. Treasury, the FRBNY was primarily responsible for directing the
financial activities of TALF LLC. The FRBNY was the primary beneficiary of the other LLCs cited above because it received a majority of any residual returns of the LLCs and absorbed a majority of any
residual losses of the LLCs. Consistent with generally accepted accounting principles, the assets and liabilities of these LLCs were 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 were eliminated, the net
assets of the LLCs appeared as assets on the previous page (and in table 1 and table 5), and the liabilities of the LLCs to entities other than the FRBNY, including those with recourse only to
the portfolio holdings of the LLCs, were included in other liabilities in this table (and table 1 and table 5).

7. Collateral Held against Federal Reserve Notes: Federal Reserve Agents' Accounts
Millions of dollars
Federal Reserve notes and collateral Wednesday
Jun 17, 2015

Federal Reserve notes outstanding 1,505,690
Less: Notes held by F.R. Banks not subject to collateralization 185,326
Federal Reserve notes to be collateralized 1,320,363
Collateral held against Federal Reserve notes 1,320,363
Gold certificate account 11,037
Special drawing rights certificate account 5,200
U.S. Treasury, agency debt, and mortgage-backed securities pledged (1,2) 1,304,127
Other assets pledged 0
Memo:
Total U.S. Treasury, agency debt, and mortgage-backed securities (1,2) 4,237,629
Less: Face value of securities under reverse repurchase agreements 251,996
U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 3,985,633

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.

Statistical releases