FEDERAL RESERVE statistical release H.4.1 Factors Affecting Reserve Balances of Depository Institutions and Condition Statement of Federal Reserve Banks May 21, 2009 1. Factors Affecting Reserve Balances of Depository Institutions Millions of dollars Reserve Bank credit, related items, and Averages of daily figures reserve balances of depository institutions at Week ended Change from week ended Wednesday Federal Reserve Banks May 20, 2009 May 13, 2009 May 21, 2008 May 20, 2009 Reserve Bank credit 2,165,129 + 48,642 +1,293,676 2,165,293 Securities held outright 1,085,600 + 59,951 + 582,769 1,091,426 U.S. Treasury securities (1) 580,566 + 11,140 + 77,735 583,271 Bills (2) 18,423 0 - 22,732 18,423 Notes and bonds, nominal (2) 516,228 + 11,114 + 98,837 518,925 Notes and bonds, inflation-indexed (2) 41,253 0 + 2,082 41,253 Inflation compensation (3) 4,661 + 25 - 453 4,671 Federal agency debt securities (2) 74,549 + 2,440 + 74,549 76,674 Mortgage-backed securities (4) 430,485 + 46,370 + 430,485 431,480 Repurchase agreements (5) 0 0 - 123,357 0 Term auction credit 428,835 0 + 303,835 428,835 Other loans 127,931 + 3,974 + 100,140 126,349 Primary credit 38,155 - 1,717 + 24,619 37,881 Secondary credit 20 + 20 + 20 140 Seasonal credit 11 + 2 - 35 11 Primary dealer and other broker-dealer credit (6) 0 - 482 - 14,209 0 Asset-Backed Commercial Paper Money Market Mutual Fund Liquidity Facility 28,121 - 660 + 28,121 27,291 Credit extended to American International Group, Inc. (7) 45,708 + 6 + 45,708 45,110 Term Asset-Backed Securities Loan Facility 15,915 + 6,805 + 15,915 15,916 Other credit extensions 0 0 0 0 Net portfolio holdings of Commercial Paper Funding Facility LLC (8) 160,781 - 6,145 + 160,781 157,083 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) 25,692 + 17 + 25,692 25,683 Net portfolio holdings of Maiden Lane II LLC (11) 16,152 + 8 + 16,152 16,163 Net portfolio holdings of Maiden Lane III LLC (12) 20,313 + 82 + 20,313 20,365 Float -1,993 + 127 - 1,078 -2,396 Central bank liquidity swaps (13) 236,459 - 10,041 + 184,459 235,112 Other Federal Reserve assets (14) 65,360 + 671 + 23,971 66,673 Gold stock 11,041 0 0 11,041 Special drawing rights certificate account 2,200 0 0 2,200 Treasury currency outstanding (15) 42,359 + 14 + 3,582 42,359 Total factors supplying reserve funds 2,220,729 + 48,656 +1,297,258 2,220,893 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 reserve balances of depository institutions at Week ended Change from week ended Wednesday Federal Reserve Banks May 20, 2009 May 13, 2009 May 21, 2008 May 20, 2009 Currency in circulation (15) 904,802 - 12 + 87,041 906,713 Reverse repurchase agreements (16) 69,768 + 1,749 + 31,420 67,758 Foreign official and international accounts 69,768 + 1,749 + 31,420 67,758 Dealers 0 0 0 0 Treasury cash holdings 292 + 2 + 41 297 Deposits with F.R. Banks, other than reserve balances 261,226 - 31,081 + 249,398 245,085 U.S. Treasury, general account 49,838 - 26,221 + 45,439 37,929 U.S. Treasury, supplementary financing account 199,930 - 3 + 199,930 199,930 Foreign official 2,715 + 773 + 2,617 2,601 Service-related 4,343 + 4 - 2,701 4,343 Required clearing balances 4,343 + 4 - 2,701 4,343 Adjustments to compensate for float 0 0 0 0 Other 4,400 - 5,634 + 4,112 282 Other liabilities and capital (17) 50,370 + 2,026 + 5,500 50,172 Total factors, other than reserve balances, absorbing reserve funds 1,286,457 - 27,316 + 373,399 1,270,025 Reserve balances with Federal Reserve Banks 934,272 + 75,972 + 923,860 950,868 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 7 and the note on consolidation accompanying table 10. 9. Refer to table 8 and the note on consolidation accompanying table 10. 10. Refer to table 4 and the note on consolidation accompanying table 10. 11. Refer to table 5 and the note on consolidation accompanying table 10. 12. Refer to table 6 and the note on consolidation accompanying table 10. 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 4 through table 8 and the note on consolidation accompanying table 10. Sources: Federal Reserve Banks and the U.S. Department of the Treasury. 1A. Memorandum Items Millions of dollars Averages of daily figures Memorandum item Week ended Change from week ended Wednesday May 20, 2009 May 13, 2009 May 21, 2008 May 20, 2009 Marketable securities held in custody for foreign official and international accounts (1) 2,709,571 + 25,930 + 432,899 2,719,019 U.S. Treasury securities 1,894,092 + 26,676 + 556,471 1,901,006 Federal agency securities (2) 815,479 - 746 - 123,572 818,013 Securities lent to dealers 36,718 - 1,303 - 94,351 37,974 Overnight facility (3) 4,168 - 1,303 - 4,774 5,424 Term facility (4) 32,550 0 - 89,577 32,550 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. 2. Maturity Distribution of Term Auction Credit, Other Loans, and Securities, May 20, 2009 Millions of dollars Remaining maturity Within 15 16 days to 91 days to Over 1 year Over 5 years Over 10 All days 90 days 1 year to 5 years to 10 years years Term auction credit 243,369 185,466 --- --- --- --- 428,835 Other loans (1) 36,100 29,109 113 61,026 --- --- 126,349 U.S. Treasury securities (2) Holdings 18,121 23,187 60,214 235,265 128,320 118,164 583,271 Weekly changes - 6,923 + 5,947 - 4,784 + 5,369 + 904 + 5,667 + 6,180 Federal agency debt securities (3) Holdings 0 196 5,505 52,813 17,625 535 76,674 Weekly changes 0 0 + 735 + 2,984 0 0 + 3,719 Mortgage-backed securities (4) Holdings 0 0 0 0 0 431,480 431,480 Weekly changes 0 0 0 0 0 - 65 - 65 Commercial paper held by Commercial Paper Funding Facility LLC (5) 21,914 132,422 0 --- --- --- 154,336 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) 159,376 75,736 0 0 0 0 235,112 Reverse repurchase agreements (7) 67,758 0 --- --- --- --- 67,758 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. Supplemental Information on Mortgage-Backed Securities Purchase Program Millions of dollars Wednesday Account name May 20, 2009 Mortgage-backed securities held outright (1) 431,480 Commitments to buy mortgage-backed securities (2) 148,615 Commitments to sell mortgage-backed securities (2) 106,455 Cash and cash equivalents (3) 1,247 1. Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. Current face value of the securities, which is the remaining principal balance of the underlying mortgages. 2. Current face value. Generally settle within 180 days and include commitments associated with outright transactions as well as dollar rolls. 3. This amount is included in other Federal Reserve assets in table 1 and in other assets in table 9 and table 10. 4. Information on Principal Accounts of Maiden Lane LLC Millions of dollars Wednesday Account name May 20, 2009 Net portfolio holdings of Maiden Lane LLC (1) 25,683 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) 323 Outstanding principal amount and accrued interest on loan payable to JPMorgan Chase & Co. (3) 1,211 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, 2009. 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 10. 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 9 and table 10. 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 Wednesday Account name May 20, 2009 Net portfolio holdings of Maiden Lane II LLC (1) 16,163 Outstanding principal amount of loan extended by the Federal Reserve Bank of New York (2) 17,877 Accrued interest payable to the Federal Reserve Bank of New York (2) 133 Deferred payment and accrued interest payable to subsidiaries of American International Group, Inc. (3) 1,016 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, 2009. 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 10. 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 9 and table 10. 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 Wednesday Account name May 20, 2009 Net portfolio holdings of Maiden Lane III LLC (1) 20,365 Outstanding principal amount of loan extended by the Federal Reserve Bank of New York (2) 22,992 Accrued interest payable to the Federal Reserve Bank of New York (2) 180 Outstanding principal amount and accrued interest on loan payable to American International Group, Inc. (3) 5,089 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, 2009. 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 10. 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 9 and table 10. 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 Commercial Paper Funding Facility LLC Millions of dollars Wednesday Account name May 20, 2009 Commercial paper holdings, net (1) 153,479 Other investments, net 3,604 Net portfolio holdings of Commercial Paper Funding Facility LLC 157,083 Memorandum: Commercial paper holdings, face value 154,336 Outstanding principal amount of loan extended by the Federal Reserve Bank of New York (2) 153,381 Accrued interest payable to the Federal Reserve Bank of New York (2) 40 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 10. 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. 8. Information on Principal Accounts of LLCs Funded through the Money Market Investor Funding Facility Millions of dollars Wednesday Account name May 20, 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 10. 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. 9. Consolidated Statement of Condition of All Federal Reserve Banks Millions of dollars Eliminations Change since from Wednesday Wednesday Wednesday Assets, liabilities, and capital consolidation May 20, 2009 May 13, 2009 May 21, 2008 Assets Gold certificate account 11,037 0 0 Special drawing rights certificate account 2,200 0 0 Coin 1,818 - 42 + 473 Securities, repurchase agreements, term auction credit, and other loans 1,646,610 + 4,134 + 855,877 Securities held outright 1,091,426 + 9,835 + 588,563 U.S. Treasury securities (1) 583,271 + 6,180 + 80,408 Bills (2) 18,423 0 - 22,732 Notes and bonds, nominal (2) 518,925 + 6,155 + 101,534 Notes and bonds, inflation-indexed (2) 41,253 0 + 2,082 Inflation compensation (3) 4,671 + 26 - 475 Federal agency debt securities (2) 76,674 + 3,719 + 76,674 Mortgage-backed securities (4) 431,480 - 65 + 431,480 Repurchase agreements (5) 0 0 - 134,000 Term auction credit 428,835 0 + 303,835 Other loans 126,349 - 5,700 + 97,478 Net portfolio holdings of Commercial Paper Funding Facility LLC (6) 157,083 - 6,126 + 157,083 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) 25,683 - 10 + 25,683 Net portfolio holdings of Maiden Lane II LLC (9) 16,163 + 13 + 16,163 Net portfolio holdings of Maiden Lane III LLC (10) 20,365 + 60 + 20,365 Items in process of collection (353) 407 + 47 - 476 Bank premises 2,196 + 2 + 45 Central bank liquidity swaps (11) 235,112 - 11,726 + 183,112 Other assets (12) 64,487 - 1,027 + 24,818 Total assets (353) 2,183,161 - 14,674 +1,283,144 Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table. 9. Consolidated Statement of Condition of All Federal Reserve Banks (continued) Millions of dollars Eliminations Change since from Wednesday Wednesday Wednesday Assets, liabilities, and capital consolidation May 20, 2009 May 13, 2009 May 21, 2008 Liabilities Federal Reserve notes, net of F.R. Bank holdings 866,465 + 954 + 83,120 Reverse repurchase agreements (13) 67,758 - 3,136 + 30,732 Deposits (0) 1,195,962 - 12,743 +1,163,405 Depository institutions 955,220 + 23,483 + 927,473 U.S. Treasury, general account 37,929 - 19,238 + 33,509 U.S. Treasury, supplementary financing account 199,930 - 3 + 199,930 Foreign official 2,601 + 54 + 2,503 Other (0) 282 - 17,040 - 10 Deferred availability cash items (353) 2,804 - 547 + 357 Other liabilities and accrued dividends (14) 6,368 + 87 + 2,674 Total liabilities (353) 2,139,357 - 15,386 +1,280,288 Capital accounts Capital paid in 23,827 + 889 + 3,904 Surplus 18,544 + 403 + 65 Other capital accounts 1,433 - 580 - 1,114 Total capital 43,804 + 712 + 2,855 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 7 and the note on consolidation accompanying table 10. 7. Refer to table 8 and the note on consolidation accompanying table 10. 8. Refer to table 4 and the note on consolidation accompanying table 10. 9. Refer to table 5 and the note on consolidation accompanying table 10. 10. Refer to table 6 and the note on consolidation accompanying table 10. 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 4 through table 8 and the note on consolidation accompanying table 10. 10. Statement of Condition of Each Federal Reserve Bank, May 20, 2009 Millions of dollars Kansas San Assets, liabilities, and capital Total Boston New York Philadelphia Cleveland Richmond Atlanta Chicago St. Louis Minneapolis City Dallas Francisco Assets Gold certificate account 11,037 412 3,895 450 467 882 1,356 911 329 197 335 621 1,182 Special drawing rights certificate acct. 2,200 115 874 83 104 147 166 212 71 30 66 98 234 Coin 1,818 69 82 151 148 241 205 223 39 62 130 178 291 Securities, repurchase agreements, term auction credit, and other loans 1,646,610 63,046 755,847 41,328 50,108 126,264 148,247 125,840 46,561 19,063 51,595 57,337 161,374 Securities held outright 1,091,426 20,937 426,612 16,932 43,120 39,332 131,502 118,104 42,758 18,069 49,266 52,772 132,022 U.S. Treasury securities (1) 583,271 11,189 227,986 9,049 23,044 21,019 70,276 63,116 22,850 9,656 26,328 28,202 70,554 Bills (2) 18,423 353 7,201 286 728 664 2,220 1,994 722 305 832 891 2,228 Notes and bonds (3) 564,849 10,836 220,785 8,763 22,316 20,355 68,056 61,123 22,129 9,351 25,497 27,311 68,326 Federal agency debt securities (2) 76,674 1,471 29,970 1,190 3,029 2,763 9,238 8,297 3,004 1,269 3,461 3,707 9,275 Mortgage-backed securities (4) 431,480 8,277 168,655 6,694 17,047 15,549 51,987 46,691 16,904 7,143 19,477 20,863 52,193 Repurchase agreements (5) 0 0 0 0 0 0 0 0 0 0 0 0 0 Term auction credit 428,835 14,642 234,882 24,099 6,988 86,160 16,453 5,964 3,704 748 2,309 4,455 28,433 Other loans 126,349 27,467 94,353 297 0 773 293 1,772 99 246 19 110 920 Net portfolio holdings of Commercial Paper Funding Facility LLC (6) 157,083 0 157,083 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) 25,683 0 25,683 0 0 0 0 0 0 0 0 0 0 Net portfolio holdings of Maiden Lane II LLC (9) 16,163 0 16,163 0 0 0 0 0 0 0 0 0 0 Net portfolio holdings of Maiden Lane III LLC (10) 20,365 0 20,365 0 0 0 0 0 0 0 0 0 0 Items in process of collection 761 23 0 131 81 65 45 74 69 56 81 67 69 Bank premises 2,196 122 215 66 146 235 222 208 135 112 271 249 213 Central bank liquidity swaps (11) 235,112 9,812 55,335 26,906 18,039 69,503 18,731 8,176 2,437 3,770 2,417 3,149 16,838 Other assets (12) 64,487 1,789 22,161 3,361 3,381 8,605 6,604 5,021 1,807 1,056 2,023 2,240 6,440 Interdistrict settlement account 0 + 16,898 + 3,013 - 12,545 - 833 + 58,645 - 25,381 - 35,383 - 16,505 - 2,307 - 4,755 - 2,465 + 21,620 Total assets 2,183,514 92,286 1,060,715 59,931 71,641 264,587 150,195 105,283 34,943 22,038 52,161 61,474 208,261 Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table. 10. Statement of Condition of Each Federal Reserve Bank, May 20, 2009 (continued) Millions of dollars Kansas San Assets, liabilities, and capital Total Boston New York Philadelphia Cleveland Richmond Atlanta Chicago St. Louis Minneapolis City Dallas Francisco Liabilities Federal Reserve notes outstanding 1,051,286 36,743 373,692 40,375 45,408 80,115 133,038 87,699 31,389 20,142 29,056 62,921 110,707 Less: Notes held by F.R. Banks 184,820 4,793 59,121 5,151 7,874 12,292 28,917 12,792 4,123 3,016 3,336 19,107 24,299 Federal Reserve notes, net 866,465 31,950 314,571 35,224 37,534 67,823 104,121 74,906 27,266 17,126 25,721 43,815 86,408 Reverse repurchase agreements (13) 67,758 1,300 26,485 1,051 2,677 2,442 8,164 7,332 2,654 1,122 3,059 3,276 8,196 Deposits 1,195,962 56,972 705,724 18,060 27,646 180,610 34,000 20,756 4,262 2,446 22,629 13,431 109,427 Depository institutions 955,220 56,961 465,129 18,055 27,642 180,500 33,997 20,754 4,254 2,445 22,628 13,430 109,424 U.S. Treasury, general account 37,929 0 37,929 0 0 0 0 0 0 0 0 0 0 U.S. Treasury, supplementary financing account 199,930 0 199,930 0 0 0 0 0 0 0 0 0 0 Foreign official 2,601 2 2,572 4 3 11 3 1 0 1 0 1 3 Other 282 9 164 0 1 99 0 1 7 0 1 0 0 Deferred availability cash items 3,157 87 0 549 366 130 268 322 101 275 189 199 672 Other liabilities and accrued dividends (14) 6,368 142 3,621 179 208 495 411 337 167 113 140 189 366 Total liabilities 2,139,710 90,451 1,050,401 55,064 68,430 251,499 146,964 103,654 34,450 21,081 51,737 60,910 205,070 Capital Capital paid in 23,827 911 7,240 2,427 1,591 6,522 1,562 793 238 486 206 273 1,578 Surplus 18,544 844 3,074 2,316 1,552 5,981 1,612 704 210 324 208 271 1,449 Other capital 1,433 79 0 125 68 585 56 133 46 146 11 19 164 Total liabilities and capital 2,183,514 92,286 1,060,715 59,931 71,641 264,587 150,195 105,283 34,943 22,038 52,161 61,474 208,261 Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table. 10. Statement of Condition of Each Federal Reserve Bank, May 20, 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 7 and the note on consolidation below. 7. Refer to table 8 and the note on consolidation below. 8. Refer to table 4 and the note on consolidation below. 9. Refer to table 5 and the note on consolidation below. 10. Refer to table 6 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 4 through table 8 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 9), 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 9). 11. Collateral Held against Federal Reserve Notes: Federal Reserve Agents' Accounts Millions of dollars Federal Reserve notes and collateral Wednesday May 20, 2009 Federal Reserve notes outstanding 1,051,286 Less: Notes held by F.R. Banks not subject to collateralization 184,820 Federal Reserve notes to be collateralized 866,465 Collateral held against Federal Reserve notes 866,465 Gold certificate account 11,037 Special drawing rights certificate account 2,200 U.S. Treasury, agency debt, and mortgage-backed securities pledged (1,2) 853,228 Other assets pledged 0 Memo: Total U.S. Treasury, agency debt, and mortgage-backed securities (1,2) 1,091,426 Less: Face value of securities under reverse repurchase agreements 65,931 U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 1,025,495 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 and term securities lending facilities; refer to table 1A.