Federal Reserve Statistical Release, H.4.1, Factors Affecting Reserve Balances; title with eagle logo links to Statistical Release home page
Release Date:  March 12, 2009
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FEDERAL RESERVE statistical release
 

H.4.1
Factors Affecting Reserve Balances of Depository Institutions and
Condition Statement of Federal Reserve Banks
March 12, 2009
1. Factors Affecting Reserve Balances of Depository Institutions
Millions of dollars
Reserve Bank credit, related items, and
reserve balances of depository institutions at
Federal Reserve Banks
Averages of daily figures Wednesday
Mar 11, 2009
Week ended
Mar 11, 2009
Change from week ended
Mar 4, 2009 Mar 12, 2008
                                                              
Reserve Bank credit                                       1,877,666    -   13,771    +1,008,588     1,882,214 
  Securities held outright                                  584,064    +    2,343    -  125,069       588,051 
    U.S. Treasury securities (1)                            474,646    +       39    -  234,487       474,661 
      Bills (2)                                              18,423             0    -  177,651        18,423 
      Notes and bonds, nominal (2)                          412,914             0    -   57,096       412,914 
      Notes and bonds, inflation-indexed (2)                 39,378             0    +      941        39,378 
      Inflation compensation (3)                              3,932    +       39    -      680         3,947 
    Federal agency debt securities (2)                       40,483    +    2,231    +   40,483        44,432 
    Mortgage-backed securities (4)                           68,935    +       73    +   68,935        68,958 
  Repurchase agreements (5)                                       0             0    -   58,714             0 
  Term auction credit                                       493,145             0    +  433,145       493,145 
  Other loans                                               133,118    -    7,827    +  133,015       134,669 
    Primary credit                                           63,487    -    2,474    +   63,388        65,482 
    Secondary credit                                              0             0             0             0 
    Seasonal credit                                              2            0   -        1            2 
    Primary dealer and other broker-dealer credit (6)        19,733    -    4,066    +   19,733        19,575 
    Asset-backed Commercial Paper Money Market                
      Mutual Fund Liquidity Facility                          7,552    -    1,979    +    7,552         6,834 
    Credit extended to American International                 
      Group, Inc. (7)                                        42,344    +      692    +   42,344        42,775 
    Other credit extensions                                       0             0             0             0 
  Net portfolio holdings of Commercial Paper                  
    Funding Facility LLC (8)                                240,658    -    1,394    +  240,658       240,858 
  Net portfolio holdings of LLCs funded through               
    the Money Market Investor Funding Facility (9)                0             0             0             0 
  Net portfolio holdings of Maiden Lane LLC (10)             26,118    +      129    +   26,118        26,178 
  Net portfolio holdings of Maiden Lane II LLC (11)          18,426    -      229    +   18,426        18,427 
  Net portfolio holdings of Maiden Lane III LLC (12)         27,463    -      239    +   27,463        27,597 
  Float                                                      -2,470    -      176    -    1,309        -3,116 
  Central bank liquidity swaps (13)                         313,869    -    6,520    +  313,869       312,461 
  Other Federal Reserve assets (14)                          43,275    +      142    +      985        43,944 
Gold stock                                                   11,041             0             0        11,041 
Special drawing rights certificate account                    2,200             0             0         2,200 
Treasury currency outstanding (15)                           38,814    +       14    +      135        38,814 
                                                              
Total factors supplying reserve funds                     1,929,721    -   13,757    +1,008,723     1,934,269 
 

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
reserve balances of depository institutions at
Federal Reserve Banks
Averages of daily figures Wednesday
Mar 11, 2009
Week ended
Mar 11, 2009
Change from week ended
Mar 4, 2009 Mar 12, 2008
                                                              
Currency in circulation (15)                                897,312    +    2,198    +   80,458       898,943 
Reverse repurchase agreements (16)                           67,725    -    4,900    +   27,704        66,385 
  Foreign official and international accounts                67,725    -    4,900    +   27,704        66,385 
  Dealers                                                         0             0             0             0 
Treasury cash holdings                                          296    +       12    +       35           305 
Deposits with F.R. Banks, other than reserve balances       283,302    +    6,983    +  271,074       287,560 
  U.S. Treasury, general account                             48,896    -    3,517    +   43,820        34,431 
  U.S. Treasury, supplementary financing account            199,945    -        5    +  199,945       199,945 
  Foreign official                                            1,541    -        6    +    1,443         1,793 
  Service-related                                             4,465    -        1    -    2,284         4,465 
    Required clearing balances                                4,465    -        1    -    2,284         4,465 
    Adjustments to compensate for float                           0             0             0             0 
  Other                                                      28,455    +   10,513    +   28,149        46,926 
Other liabilities and capital (17)                           52,344    +    1,012    +    7,901        53,032 
                                                              
Total factors, other than reserve balances,                                                       
   absorbing reserve funds                                1,300,979    +    5,306    +  387,172     1,306,225 
                                                              
Reserve balances with Federal Reserve Banks                 628,743    -   19,062    +  621,552       628,044 
                                                                
Note: Components may not sum to totals because of rounding.
 

1. Includes securities lent to dealers under the overnight and term securities lending facilities; refer
to table 1A.
2. Face value of the securities.
3. Compensation that adjusts for the effect of inflation on the original face value of inflation-indexed
securities.
4. Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. Current face value of the securities, which is
the remaining principal balance of the underlying mortgages.
5. Cash value of agreements.
6. Includes credit extended through the Primary Dealer Credit Facility and credit extended to certain
other broker-dealers.
7. Excludes credit extended to consolidated LLCs.
8. Refer to table 6 and the note on consolidation accompanying table 9.
9. Refer to table 7 and the note on consolidation accompanying table 9.
10. Refer to table 3 and the note on consolidation accompanying table 9.
11. Refer to table 4 and the note on consolidation accompanying table 9.
12. Refer to table 5 and the note on consolidation accompanying table 9.
13. Dollar value of foreign currency held under these agreements valued at the exchange rate to be used when
the foreign currency is returned to the foreign central bank. This exchange rate equals the market exchange
rate used when the foreign currency was acquired from the foreign central bank.
14. Includes other assets denominated in foreign currencies, which are revalued daily at market exchange rates.
15. Estimated.
16. Cash value of agreements, which are collateralized by U.S. Treasury securities.
17. Includes the liabilities of Commercial Paper Funding Facility LLC, the LLCs funded through the Money Market
Investor Funding Facility, Maiden Lane LLC, Maiden Lane II LLC, and Maiden Lane III 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 3 through table 7 and the note on consolidation accompanying 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
Mar 11, 2009
Week ended
Mar 11, 2009
Change from week ended
Mar 4, 2009 Mar 12, 2008
                                                              
Marketable securities held in custody for foreign             
      official and international accounts (1)             2,591,355    -    5,085    +  440,139     2,583,990 
  U.S. Treasury securities                                1,780,495    +    1,239    +  502,798     1,771,980 
  Federal agency securities (2)                             810,860    -    6,324    -   62,659       812,010 
Securities lent to dealers                                  112,333    -    5,520    +  100,694       112,680 
  Overnight facility (3)                                      4,034    -    1,649    -    7,605         4,560 
  Term facility (4,5)                                       108,299    -    3,871    +  108,299       108,120 
 

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

1. Face value of the securities. Includes U.S. Treasury STRIPS, other zero-coupon bonds, and mortgage-backed
securities at face value.
2. Includes debt and mortgage-backed securities.
3. Fully collateralized by U.S. Treasury securities.
4. Fully collateralized by U.S. Treasury securities, federal agency securities, and other highly rated debt
securities.
5. On March 11, 2009, option contracts on draws on the Term Securities Lending Facility totaling $ 35,000
million were outstanding. The exercise date for the options is March 26, 2009, and the draws have a term of
March 27, 2009 through April 3, 2009.
 

 

2. Maturity Distribution of Term Auction Credit, Other Loans, and Securities, March 11, 2009
Millions of dollars
Remaining maturity
Within 15
days
16 days to
90 days
91 days to
1 year
Over 1 year
to 5 years
Over 5 years
to 10 years
Over 10
years
All
 
Term auction credit                   245,282      247,864         ---            ---          ---         ---       493,145
Other loans (1)                        75,728       16,111           55        42,775          ---         ---       134,669
U.S. Treasury securities (2)                    
  Holdings                             17,125       27,819       60,733       168,936      100,598      99,449       474,661
  Weekly changes                   +    3,867   -    3,867   +        1    +       14   +       10  +       17    +       42
Federal agency debt securities (3)                        
  Holdings                              1,199            0        2,567        31,451        9,049         166        44,432
  Weekly changes                   +      222   -      571            0    +    4,761   +    1,616  +      166    +    6,194
Mortgage-backed securities (4)                            
  Holdings                                  0            0            0             0            0      68,958        68,958
  Weekly changes                            0            0            0             0            0  +       56    +       56
Commercial paper held by                        
  Commercial Paper Funding                      
  Facility LLC (5)                     18,529      221,160            0           ---          ---         ---       239,689
Money market instruments held by                
  LLCs funded through the Money                 
  Market Investor Funding                       
  Facility (6)                              0            0            0           ---          ---         ---             0
Repurchase agreements (7)                   0            0          ---           ---          ---         ---             0
Central bank liquidity swaps (8)      158,359      154,102            0             0            0           0       312,461
                                                
Reverse repurchase agreements (7)      66,385            0          ---           ---          ---         ---        66,385
  
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 Commercial Paper Funding Facility LLC, the
LLCs funded through the Money Market Investor Funding Facility, Maiden Lane LLC, Maiden Lane II LLC, and Maiden
Lane III LLC. The loans were eliminated when preparing the FRBNY's statement of condition consistent with
consolidation under generally accepted accounting principles.
2. Face value. For inflation-indexed securities, includes the original face value and compensation that adjusts for
the effect of inflation on the original face value of such securities.
3. Face value.
4. Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. Current face value of the securities, which is the remaining
principal balance of the underlying mortgages.
5. Face value of commercial paper held by Commercial Paper Funding Facility LLC.
6. Face value of money market instruments held by LLCs funded through the Money Market Investor Funding Facility.
7. Cash value of agreements.
8. 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. Information on Principal Accounts of Maiden Lane LLC
Millions of dollars
Account name Wednesday
Mar 11, 2009
                                                                                                
Net portfolio holdings of Maiden Lane LLC (1)                                                       26,178    
                                                                                                
Outstanding principal amount of loan extended by the Federal Reserve Bank of New York (2)           28,820    
Accrued interest payable to the Federal Reserve Bank of New York (2)                                   295    
Outstanding principal amount and accrued interest on loan payable to JPMorgan Chase & Co. (3)        1,199    
 
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, 2008. 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.
 

 

 

4. Information on Principal Accounts of Maiden Lane II LLC
Millions of dollars
Account name Wednesday
Mar 11, 2009
                                                                                                
Net portfolio holdings of Maiden Lane II LLC (1)                                                     18,427   
                                                                                                
Outstanding principal amount of loan extended by the Federal Reserve Bank of New York (2)            18,543   
Accrued interest payable to the Federal Reserve Bank of New York (2)                                     80   
Deferred payment and accrued interest payable to subsidiaries of American International         
  Group, Inc. (3)                                                                                     1,009   
 

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, 2008. 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.
 

 

5. Information on Principal Accounts of Maiden Lane III LLC
Millions of dollars
Account name Wednesday
Mar 11, 2009
                                                                                                
Net portfolio holdings of Maiden Lane III LLC (1)                                                    27,597   
                                                                                                
Outstanding principal amount of loan extended by the Federal Reserve Bank of New York (2)            24,036   
Accrued interest payable to the Federal Reserve Bank of New York (2)                                    113   
Outstanding principal amount and accrued interest on loan payable to American International     
  Group, Inc. (3)                                                                                     5,056   
 

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, 2008. 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.
 

 

6. Information on Principal Accounts of Commercial Paper Funding Facility LLC
Millions of dollars
Account name Wednesday
Mar 11, 2009
                                                                                                
Commercial paper holdings, net (1)                                                                  238,390   
Other investments, net                                                                                2,468   
Net portfolio holdings of Commercial Paper Funding Facility LLC                                     240,858   
                                                                                                
Memorandum: Commercial paper holdings, face value                                                   239,689   
                                                                                                
Outstanding principal amount of loan extended by the Federal Reserve Bank of New York (2)           238,380   
Accrued interest payable to the Federal Reserve Bank of New York (2)                                     75   
 

1. Book value, which includes amortized cost and related fees.
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.
 

Note: On October 27, 2008, the Federal Reserve Bank of New York began extending loans under the authority of
section 13(3) of the Federal Reserve Act to Commercial Paper Funding Facility LLC. This LLC is a limited
liability company formed to purchase three-month U.S. dollar-denominated commercial paper from eligible issuers
and thereby foster liquidity in short-term funding markets and increase the availability of credit for
businesses and households.
 

 

7. Information on Principal Accounts of LLCs Funded through the Money Market Investor Funding Facility
Millions of dollars
Account name Wednesday
Mar 11, 2009
                                                                                                
Money market instrument holdings, net (1)                                                                 0   
Other investments, net                                                                                    0   
Net portfolio holdings of LLCs funded through the Money Market Investor Funding Facility                  0   
                                                                                                
Memorandum: Money market instrument holdings, face value                                                  0   
                                                                                                
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   
Commercial paper issued by LLCs funded through the Money Market Investor Funding Facility,      
  net of related discounts                                                                                0   
 

1. Book value, which includes amortized cost.
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.
 

Note: The Federal Reserve Board authorized the Federal Reserve Bank of New York to extend credit under the
authority of section 13(3) of the Federal Reserve Act to a series of limited liability companies funded through
the Money Market Investor Funding Facility (MMIFF). The MMIFF became operational on November 24, 2008. These
limited liability companies were established to purchase short-term U.S. dollar-denominated certificates of
deposit, bank notes, and outstanding asset-backed commercial paper from eligible issuers. Such purchases are
designed to foster liquidity in short-term money markets.
 

 

8. Consolidated Statement of Condition of All Federal Reserve Banks
Millions of dollars
Assets, liabilities, and capital Eliminations
from
consolidation
  Change since
Wednesday
Mar 11, 2009
Wednesday
Mar 4, 2009
Wednesday
Mar 12, 2008
Assets                                                   
Gold certificate account                                           11,037                0                   0
Special drawing rights certificate account                          2,200                0                   0
Coin                                                                1,835       -       13          +      511
Securities, repurchase agreements, term auction          
      credit, and other loans                                   1,215,865       +      618          +  375,401
  Securities held outright                                        588,051       +    6,292          -  115,385
    U.S. Treasury securities (1)                                  474,661       +       42          -  228,775
      Bills (2)                                                    18,423                0          -  171,937
      Notes and bonds, nominal (2)                                412,914                0          -   57,096
      Notes and bonds, inflation-indexed (2)                       39,378                0          +      941
      Inflation compensation (3)                                    3,947       +       42          -      682
    Federal agency debt securities (2)                             44,432       +    6,194          +   44,432
    Mortgage-backed securities (4)                                 68,958       +       56          +   68,958
  Repurchase agreements (5)                                             0                0          -   77,000
  Term auction credit                                             493,145                0          +  433,145
  Other loans                                                     134,669       -    5,674          +  134,641
Net portfolio holdings of Commercial Paper               
  Funding Facility LLC (6)                                        240,858       -      438          +  240,858
Net portfolio holdings of LLCs funded through            
  the Money Market Investor Funding Facility (7)                        0                0                   0
Net portfolio holdings of Maiden Lane LLC (8)                      26,178       +       71          +   26,178
Net portfolio holdings of Maiden Lane II LLC (9)                   18,427       -      281          +   18,427
Net portfolio holdings of                                
  Maiden Lane III LLC (10)                                         27,597       -      148          +   27,597
Items in process of collection                         (455)          604       -      101          -      750
Bank premises                                                       2,186       +        4          +       48
Central bank liquidity swaps (11)                                 312,461       -    2,750          +  312,461
Other assets (12)                                                  41,738       +    1,226          +    1,297
                                                         
      Total assets                                     (455)    1,900,986       -    1,812          +1,002,030
 

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
from
consolidation
  Change since
Wednesday
Mar 11, 2009
Wednesday
Mar 4, 2009
Wednesday
Mar 12, 2008
Liabilities                                              
Federal Reserve notes, net of F.R. Bank holdings                  862,265       +    1,795          +   81,011
Reverse repurchase agreements (13)                                 66,385       -    4,877          +   26,188
Deposits                                                 (0)      915,584       -      316          +  884,972
  Depository institutions                                         632,490       +   12,777          +  607,484
  U.S. Treasury, general account                                   34,431       -   33,851          +   29,182
  U.S. Treasury, supplementary financing account                  199,945       -        5          +  199,945
  Foreign official                                                  1,793       +      153          +    1,697
  Other                                                  (0)       46,926       +   20,611          +   46,666
Deferred availability cash items                       (455)        3,720       +       66          +      856
Other liabilities and accrued dividends (14)                        9,124       +      311          +    4,759
                                                         
      Total liabilities                                (455)    1,857,078       -    3,020          +  997,786
                                                         
Capital accounts                                         
Capital paid in                                                    22,360       +      166          +    2,886
Surplus                                                            20,947       +      680          +    2,489
Other capital accounts                                                601       +      363          -    1,132
                                                         
      Total capital                                                43,908       +    1,209          +    4,243
 

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

1. Includes securities lent to dealers under the overnight and term securities lending facilities; refer
to table 1A.
2. Face value of the securities.
3. Compensation that adjusts for the effect of inflation on the original face value of inflation-indexed
securities.
4. Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. Current face value of the securities, which is
the remaining principal balance of the underlying mortgages.
5. Cash value of agreements, which are collateralized by U.S. Treasury and federal agency securities.
6. Refer to table 6 and the note on consolidation accompanying table 9.
7. Refer to table 7 and the note on consolidation accompanying table 9.
8. Refer to table 3 and the note on consolidation accompanying table 9.
9. Refer to table 4 and the note on consolidation accompanying table 9.
10. Refer to table 5 and the note on consolidation accompanying table 9.
11. Dollar value of foreign currency held under these agreements valued at the exchange rate to be used when
the foreign currency is returned to the foreign central bank. This exchange rate equals the market
exchange rate used when the foreign currency was acquired from the foreign central bank.
12. Includes other assets denominated in foreign currencies, which are revalued daily at market exchange rates.
13. Cash value of agreements, which are collateralized by U.S. Treasury securities.
14. Includes the liabilities of Commercial Paper Funding Facility LLC, the LLCs funded through the Money Market
Investor Funding Facility, Maiden Lane LLC, Maiden Lane II LLC, and Maiden Lane III 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 3 through table 7 and the note on consolidation accompanying table 9.
 

 

9. Statement of Condition of Each Federal Reserve Bank, March 11, 2009
Millions of dollars
Assets, liabilities, and capital Total Boston New York Philadelphia Cleveland Richmond Atlanta Chicago St. Louis Minneapolis Kansas
City
Dallas San
Francisco
Assets                                                             
Gold certificate account                      11,037         424       3,935         453         423         891       1,221         913         344         199         349         636       1,249 
Special drawing rights certificate acct.       2,200         115         874          83         104         147         166         212          71          30          66          98         234 
Coin                                           1,835          62          82         155         152         252         221         215          45          61         126         181         283 
Securities, repurchase agreements, term                            
      auction credit, and other loans      1,215,865      53,381     564,559      72,578      33,745     140,393      72,333      60,259      24,936      17,147      24,128      30,953     121,453 
  Securities held outright                   588,051      24,665     209,225      25,675      22,299      53,324      58,510      51,901      20,321      11,102      21,592      24,393      65,045 
    U.S. Treasury securities (1)             474,661      19,909     168,882      20,724      17,999      43,042      47,228      41,893      16,403       8,961      17,429      19,689      52,503 
      Bills (2)                               18,423         773       6,555         804         699       1,671       1,833       1,626         637         348         676         764       2,038 
      Notes and bonds (3)                    456,239      19,136     162,327      19,920      17,300      41,371      45,395      40,267      15,766       8,613      16,752      18,925      50,465 
    Federal agency debt securities (2)        44,432       1,864      15,809       1,940       1,685       4,029       4,421       3,922       1,535         839       1,631       1,843       4,915 
    Mortgage-backed securities (4)            68,958       2,892      24,535       3,011       2,615       6,253       6,861       6,086       2,383       1,302       2,532       2,860       7,627 
  Repurchase agreements (5)                        0           0           0           0           0           0           0           0           0           0           0           0           0 
  Term auction credit                        493,145      21,622     233,360      46,815      11,445      86,488      13,623       6,469       4,564       5,699       2,477       5,675      54,909 
  Other loans                                134,669       7,094     121,974          88           2         582         200       1,889          51         346          59         885       1,499 
Net portfolio holdings of Commercial                               
  Paper Funding Facility LLC (6)             240,858           0     240,858           0           0           0           0           0           0           0           0           0           0 
Net portfolio holdings of LLCs funded                              
  through the Money Market Investor                                
  Funding Facility (7)                             0           0           0           0           0           0           0           0           0           0           0           0           0 
Net portfolio holdings of Maiden Lane                              
  LLC (8)                                     26,178           0      26,178           0           0           0           0           0           0           0           0           0           0 
Net portfolio holdings of Maiden                                   
  Lane II LLC (9)                             18,427           0      18,427           0           0           0           0           0           0           0           0           0           0 
Net portfolio holdings of Maiden                                   
  Lane III LLC (10)                           27,597           0      27,597           0           0           0           0           0           0           0           0           0           0 
Items in process of collection                 1,059          42           0         234         183          36          24         185          26          59          30         111         130 
Bank premises                                  2,186         122         210          65         146         232         224         207         134         112         272         249         212 
Central bank liquidity swaps (11)            312,461      12,213      88,700      33,489      22,452      86,507      23,314      10,176       3,033       4,692       3,008       3,920      20,958 
Other assets (12)                             41,738       1,707      12,955       3,351       2,404       8,333       3,582       2,306         876         714         893       1,063       3,556 
Interdistrict settlement account                   0   -  11,560   -  61,057   -  50,816   +  11,446   -  26,445   +  35,835   +  31,096   +   5,086   -     741   +  20,232   +  20,773   +  26,149 
                                                                   
      Total assets                         1,901,441      56,507     923,318      59,591      71,055     210,345     136,919     105,569      34,551      22,273      49,104      57,984     174,223 
 

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 11, 2009 (continued)
Millions of dollars
Assets, liabilities, and capital Total Boston New York Philadelphia Cleveland Richmond Atlanta Chicago St. Louis Minneapolis Kansas
City
Dallas San
Francisco
Liabilities                                                         
Federal Reserve notes outstanding           1,040,918      37,511     363,748      40,773      45,884      79,807     133,998      87,242      29,100      19,946      29,393      62,261     111,255 
  Less: Notes held by F.R. Banks              178,653       5,575      53,011       5,118       7,325      12,069      29,508      13,447       3,556       2,865       3,429      16,944      25,806 
    Federal Reserve notes, net                862,265      31,937     310,737      35,655      38,560      67,738     104,490      73,795      25,544      17,081      25,964      45,316      85,449 
Reverse repurchase agreements (13)             66,385       2,784      23,619       2,898       2,517       6,020       6,605       5,859       2,294       1,253       2,438       2,754       7,343 
Deposits                                      915,584      19,681     570,322      15,451      26,103     123,930      21,795      23,675       6,061       2,579      19,928       8,870      77,190 
  Depository institutions                     632,490      19,677     287,377      15,446      26,099     123,814      21,792      23,674       6,051       2,578      19,926       8,870      77,186 
  U.S. Treasury, general account               34,431           0      34,431           0           0           0           0           0           0           0           0           0           0 
  U.S. Treasury, supplementary                                      
    financing account                         199,945           0     199,945           0           0           0           0           0           0           0           0           0           0 
  Foreign official                              1,793           2       1,763           4           3          11           3           1           0           1           0           1           3 
  Other                                        46,926           2      46,806           0           1         104           0           0          10           0           1           0           2 
Deferred availability cash items                4,175         124           0         732         555         291         323         394          45         418         206         287         799 
Other liabilities and accrued                                                 
  dividends (14)                                9,124         160       6,584         190         187         480         346         295         157         110         120         172         322 
                                                                    
      Total liabilities                     1,857,532      54,685     911,262      54,926      67,922     198,459     133,559     104,019      34,100      21,442      48,655      57,399     171,104 
                                                                    
Capital                                                             
Capital paid in                                22,360         903       6,283       2,363       1,597       6,061       1,644         769         216         485         214         281       1,544 
Surplus                                        20,947         844       5,663       2,301       1,537       5,826       1,612         704         210         324         208         271       1,449 
Other capital                                     601          74         110           0           0           0         105          78          25          22          27          33         127 
                                                                    
      Total liabilities and capital         1,901,441      56,507     923,318      59,591      71,055     210,345     136,919     105,569      34,551      22,273      49,104      57,984     174,223 
                              
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 11, 2009 (continued)
 

1. Includes securities lent to dealers under the overnight and term securities lending facilities; refer to table 1A.
2. Face value of the securities.
3. Includes the original face value of inflation-indexed securities and compensation that adjusts for the effect of inflation on the original face value of such securities.
4. Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. Current face value of the securities, which is the remaining principal balance of the underlying mortgages.
5. Cash value of agreements, which are collateralized by U.S. Treasury and federal agency securities.
6. Refer to table 6 and the note on consolidation below.
7. Refer to table 7 and the note on consolidation below.
8. Refer to table 3 and the note on consolidation below.
9. Refer to table 4 and the note on consolidation below.
10. Refer to table 5 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. Includes other assets denominated in foreign currencies, which are revalued daily at market exchange rates.
13. Cash value of agreements, which are collateralized by U.S. Treasury securities.
14. Includes the liabilities of Commercial Paper Funding Facility LLC, the LLCs funded through the Money Market Investor Funding Facility, Maiden Lane LLC, Maiden Lane II LLC, and Maiden
Lane III 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 3 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 October 27, 2008, the FRBNY began extending loans to Commercial Paper Funding
Facility LLC, which was formed to purchase three-month U.S. dollar-denominated commercial paper from eligible issuers. On October 21, 2008, the Federal Reserve Board authorized the FRBNY
to extend credit to a series of LLCs funded through the Money Market Investor Funding Facility. These LLCs, which became operational on November 24, 2008, were established to purchase
short-term U.S. dollar-denominated certificates of deposit, bank notes, and commercial paper from eligible issuers. 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.
 

The FRBNY is the sole beneficiary of Commercial Paper Funding Facility LLC and the primary beneficiary of the other LLCs cited above. 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 11, 2009
                                                                                            
Federal Reserve notes outstanding                                                              1,040,918 
  Less: Notes held by F.R. Banks not subject to collateralization                                178,653 
    Federal Reserve notes to be collateralized                                                   862,265 
Collateral held against Federal Reserve notes                                                    862,265 
  Gold certificate account                                                                        11,037 
  Special drawing rights certificate account                                                       2,200 
  U.S. Treasury, agency debt, and mortgage-backed securities pledged (1)                         526,147 
  Other assets pledged                                                                           322,881 
                                                                                            
Memo:                                                                                       
Total U.S. Treasury, agency debt, and mortgage-backed securities (1)                             588,051 
  Less: Face value of securities under reverse repurchase agreements                              61,904 
    U.S. Treasury, agency debt, and mortgage-backed securities                              
    eligible to be pledged                                                                       526,147 
   
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.

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