FEDERAL RESERVE statistical release H.4.1 Factors Affecting Reserve Balances of Depository Institutions and Condition Statement of Federal Reserve Banks July 15, 2010 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 Jul 14, 2010 Federal Reserve Banks Jul 14, 2010 Jul 7, 2010 Jul 15, 2009 Reserve Bank credit 2,315,940 + 1,333 + 304,143 2,323,570 Securities held outright (1) 2,060,479 + 451 + 794,772 2,067,676 U.S. Treasury securities 777,002 + 8 + 99,840 777,005 Bills (2) 18,423 0 0 18,423 Notes and bonds, nominal (2) 712,023 0 + 101,190 712,023 Notes and bonds, inflation-indexed (2) 41,125 0 - 1,698 41,125 Inflation compensation (3) 5,431 + 8 + 348 5,434 Federal agency debt securities (2) 163,626 - 1,136 + 64,138 162,111 Mortgage-backed securities (4) 1,119,851 + 1,579 + 630,794 1,128,560 Repurchase agreements (5) 0 0 0 0 Term auction credit 0 0 - 273,691 0 Other loans 66,775 - 257 - 45,118 66,571 Primary credit 86 + 45 - 34,371 150 Secondary credit 0 - 1 0 0 Seasonal credit 72 + 3 - 2 83 Asset-Backed Commercial Paper Money Market Mutual Fund Liquidity Facility 0 0 - 7,998 0 Credit extended to American International Group, Inc., net (6) 24,512 - 58 - 18,514 24,674 Term Asset-Backed Securities Loan Facility (7) 42,105 - 247 + 15,767 41,665 Other credit extensions 0 0 0 0 Net portfolio holdings of Commercial Paper Funding Facility LLC (8) 1 0 - 112,359 1 Net portfolio holdings of Maiden Lane LLC (9) 28,531 + 29 + 2,573 28,562 Net portfolio holdings of Maiden Lane II LLC (10) 15,545 - 187 - 199 15,549 Net portfolio holdings of Maiden Lane III LLC (11) 22,931 - 237 + 4,147 22,967 Net portfolio holdings of TALF LLC (12) 506 0 + 506 506 Preferred interests in AIA Aurora LLC and ALICO Holdings LLC (13) 25,733 0 + 25,733 25,733 Float -1,833 + 141 + 281 -2,001 Central bank liquidity swaps (14) 1,245 0 - 110,533 1,245 Other Federal Reserve assets (15) 96,027 + 1,393 + 18,032 96,761 Gold stock 11,041 0 0 11,041 Special drawing rights certificate account 5,200 0 + 3,000 5,200 Treasury currency outstanding (16) 43,196 + 14 + 727 43,196 Total factors supplying reserve funds 2,375,377 + 1,347 + 307,869 2,383,007 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 Jul 14, 2010 Federal Reserve Banks Jul 14, 2010 Jul 7, 2010 Jul 15, 2009 Currency in circulation (16) 945,837 - 1,962 + 35,360 945,506 Reverse repurchase agreements (17) 62,836 - 2,410 - 5,924 62,265 Foreign official and international accounts 62,836 - 2,410 - 5,924 62,265 Dealers 0 0 0 0 Treasury cash holdings 246 + 11 - 102 246 Deposits with F.R. Banks, other than reserve balances 235,324 - 6,278 - 14,603 232,478 Term deposits held by depository institutions 2,122 0 + 2,122 2,122 U.S. Treasury, general account 18,262 - 7,722 - 8,169 7,866 U.S. Treasury, supplementary financing account 199,962 - 1 + 23 199,962 Foreign official 1,487 - 131 - 1,474 1,254 Service-related 2,472 0 - 1,716 2,472 Required clearing balances 2,472 0 - 1,716 2,472 Adjustments to compensate for float 0 0 0 0 Other 11,020 + 1,578 - 5,389 18,802 Other liabilities and capital (18) 72,607 + 489 + 16,401 73,715 Total factors, other than reserve balances, absorbing reserve funds 1,316,850 - 10,150 + 31,132 1,314,210 Reserve balances with Federal Reserve Banks 1,058,528 + 11,497 + 276,738 1,068,798 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 outstanding principal and capitalized interest net of unamortized deferred commitment fees and allowance for loan restructuring. Excludes credit extended to consolidated LLCs. 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 7 and the note on consolidation accompanying table 11. 9. Refer to table 4 and the note on consolidation accompanying table 11. 10. Refer to table 5 and the note on consolidation accompanying table 11. 11. Refer to table 6 and the note on consolidation accompanying table 11. 12. Refer to table 8 and the note on consolidation accompanying table 11. 13. Refer to table 9. 14. 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. 15. Includes other assets denominated in foreign currencies, which are revalued daily at market exchange rates, accrued dividends on the Federal Reserve Bank of New York's (FRBNY) preferred interests in AIA Aurora LLC and ALICO Holdings LLC, and the fair value adjustment to credit extended by the FRBNY to eligible borrowers through the Term Asset-Backed Securities Loan Facility. 16. Estimated. 17. Cash value of agreements, which are collateralized by U.S. Treasury securities and federal agency debt securities. 18. Includes the liabilities of Commercial Paper Funding Facility LLC, Maiden Lane LLC, Maiden Lane II LLC, Maiden Lane III LLC, and TALF LLC to entities other than the Federal Reserve Bank of New York, including liabilities that have recourse only to the portfolio holdings of these LLCs. Refer to table 4 through table 8 and the note on consolidation accompanying table 11. Sources: Federal Reserve Banks and the U.S. Department of the Treasury. 1A. Memorandum Items Millions of dollars Averages of daily figures Wednesday Week ended Change from week ended Jul 14, 2010 Memorandum item Jul 14, 2010 Jul 7, 2010 Jul 15, 2009 Marketable securities held in custody for foreign official and international accounts (1) 3,113,710 + 13,214 + 331,587 3,117,227 U.S. Treasury securities 2,289,735 + 11,779 + 307,947 2,285,362 Federal agency securities (2) 823,975 + 1,435 + 23,639 831,865 Securities lent to dealers 6,781 - 260 - 7,732 5,790 Overnight facility (3) 6,781 - 260 - 3,482 5,790 U.S. Treasury securities 5,084 - 41 - 5,025 4,312 Federal agency debt securities 1,696 - 220 + 1,542 1,478 Term facility (4) 0 0 - 4,250 0 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. U.S. Treasury securities only. Fully collateralized by U.S. Treasury securities, federal agency securities, and other highly rated debt securities. 2. Maturity Distribution of Securities, Loans, and Selected Other Assets and Liabilities, July 14, 2010 Millions of dollars Within 15 16 days to 91 days to Over 1 year Over 5 years Over 10 All Remaining maturity days 90 days 1 year to 5 years to 10 years years Other loans (1) 163 70 0 66,339 0 ... 66,571 U.S. Treasury securities (2) Holdings 14,664 18,280 52,950 332,287 214,982 143,841 777,005 Weekly changes + 2,156 - 2,157 0 + 234 - 231 + 4 + 8 Federal agency debt securities (3) Holdings 2,730 7,199 37,112 79,175 33,548 2,347 162,111 Weekly changes - 2,651 + 1,923 - 1,923 0 0 0 - 2,651 Mortgage-backed securities (4) Holdings 0 0 0 31 20 1,128,509 1,128,560 Weekly changes 0 0 0 0 0 + 10,270 + 10,270 Commercial paper held by Commercial Paper Funding Facility LLC (5) 0 0 0 ... ... ... 0 Asset-backed securities held by TALF LLC (6) 0 0 0 0 0 0 0 Repurchase agreements (7) 0 0 ... ... ... ... 0 Central bank liquidity swaps (8) 0 1,245 0 0 0 0 1,245 Reverse repurchase agreements (7) 62,265 0 ... ... ... ... 62,265 Term deposits 2,122 0 0 ... ... ... 2,122 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, Maiden Lane LLC, Maiden Lane II LLC, Maiden Lane III LLC, and TALF LLC. The loans were eliminated when preparing the FRBNY's statement of condition consistent with consolidation under generally accepted accounting principles. 2. Face value. For inflation-indexed securities, includes the original face value and compensation that adjusts for the effect of inflation on the original face value of such securities. 3. Face value. 4. Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. 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 asset-backed securities held by TALF LLC, which is the remaining principal balance of the underlying assets. 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 Jul 14, 2010 Mortgage-backed securities held outright (1) 1,128,560 Commitments to buy mortgage-backed securities (2) 5,177 Commitments to sell mortgage-backed securities (2) 0 Cash and cash equivalents (3) 61 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 10 and table 11. 4. Information on Principal Accounts of Maiden Lane LLC Millions of dollars Wednesday Account name Jul 14, 2010 Net portfolio holdings of Maiden Lane LLC (1) 28,562 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) 520 Outstanding principal amount and accrued interest on loan payable to JPMorgan Chase & Co. (3) 1,283 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, 2010. 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 11. 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 10 and table 11. 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 Jul 14, 2010 Net portfolio holdings of Maiden Lane II LLC (1) 15,549 Outstanding principal amount of loan extended by the Federal Reserve Bank of New York (2) 14,089 Accrued interest payable to the Federal Reserve Bank of New York (2) 368 Deferred payment and accrued interest payable to subsidiaries of American International Group, Inc. (3) 1,055 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, 2010. 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 11. 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 10 and table 11. 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 Jul 14, 2010 Net portfolio holdings of Maiden Lane III LLC (1) 22,967 Outstanding principal amount of loan extended by the Federal Reserve Bank of New York (2) 15,469 Accrued interest payable to the Federal Reserve Bank of New York (2) 456 Outstanding principal amount and accrued interest on loan payable to American International Group, Inc. (3) 5,284 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, 2010. 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 11. 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 10 and table 11. 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 Jul 14, 2010 Commercial paper holdings, net (1) 0 Other investments, net 1 Net portfolio holdings of Commercial Paper Funding Facility LLC 1 Memorandum: Commercial paper 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 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 11. 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 TALF LLC Millions of dollars Wednesday Account name Jul 14, 2010 Asset-backed securities holdings (1) 0 Other investments, net 506 Net portfolio holdings of TALF LLC 506 Outstanding principal amount of loan extended by the Federal Reserve Bank of New York (2) 0 Accrued interest payable to the Federal Reserve Bank of New York (2) 0 Funding provided by U.S. Treasury to TALF LLC, including accrued interest payable (3) 104 1. Fair value. Fair value reflects an estimate of the price that would be received upon selling an asset if the transaction were to be conducted in an orderly market on the measurement date. 2. Book value. This amount was eliminated when preparing the Federal Reserve Bank of New York's statement of condition consistent with consolidation under generally accepted accounting principles. Refer to the note on consolidation accompanying table 11. 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 10 and table 11. Note: On November 25, 2008, the Federal Reserve announced the creation of the Term Asset-Backed Securities Loan Facility (TALF) under the authority of section 13(3) of the Federal Reserve Act. The TALF is a facility under which the Federal Reserve Bank of New York (FRBNY) extends loans with a term of up to five years to holders of eligible asset-backed securities. The TALF is intended to assist financial markets in accommodating the credit needs of consumers and businesses by facilitating the issuance of asset-backed securities collateralized by a variety of consumer and business loans. The loans provided through the TALF to eligible borrowers are non-recourse, meaning that the obligation of the borrower can be discharged by surrendering the collateral to the FRBNY. The loans are extended for the market value of the security less an amount known as a haircut. As a result, the borrower bears the initial risk of a decline in the value of the security. TALF LLC is a limited liability company formed to purchase and manage any asset-backed securities received by the FRBNY in connection with the decision of a borrower not to repay a TALF loan. TALF LLC has committed, for a fee, to purchase all asset-backed securities received by the FRBNY in conjunction with a TALF loan at a price equal to the TALF loan plus accrued but unpaid interest. Losses on asset-backed securities held by TALF LLC will be offset in the following order: by the commitment fees collected by TALF LLC, by the interest received on investments of TALF LLC, by up to $20 billion in subordinated debt funding provided by the U.S. Treasury, and finally, by senior debt funding provided by the FRBNY. Payments by TALF LLC from the proceeds of its net portfolio holdings will be made in the following order: operating expenses of TALF LLC, principal due to the FRBNY, principal due to the U.S. Treasury, interest due to the FRBNY, and interest due to the U.S. Treasury. Any remaining funds will be shared by the FRBNY and the U.S. Treasury. 9. Supplemental Information on the Federal Reserve Bank of New York's Preferred Interests in AIA Aurora LLC and ALICO Holdings LLC Millions of dollars Wednesday Account name Jul 14, 2010 Preferred interests in AIA Aurora LLC and ALICO Holdings LLC (1) 25,733 Accrued dividends on preferred interests in AIA Aurora LLC and ALICO Holdings LLC (2) 49 Preferred interests in AIA Aurora LLC (1) 16,469 Accrued dividends on preferred interests in AIA Aurora LLC (2) 32 Preferred interests in ALICO Holdings LLC (1) 9,264 Accrued dividends on preferred interests in ALICO Holdings LLC (2) 18 Note: Components may not sum to totals because of rounding. 1. Book value. 2. This amount is included in other Federal Reserve assets in table 1 and in other assets in table 10 and table 11. Note on preferred interests: In conjunction with the restructuring of the government's assistance to American International Group, Inc. (AIG) announced March 2, 2009, the outstanding balance and amount available of revolving credit provided to AIG by the FRBNY has been reduced in exchange for preferred interests in two special purpose vehicles, AIA Aurora LLC and ALICO Holdings LLC. These two limited liability companies were created to directly or indirectly hold all of the outstanding common stock of American International Assurance Company Ltd. (AIA) and American Life Insurance Company (ALICO), two life insurance subsidiaries of AIG. AIG will retain control of AIA Aurora LLC and ALICO Holdings LLC, and the FRBNY will have certain consent, disposition, and conversion rights with respect to its preferred interests. Dividends accrue as a percentage of the FRBNY's preferred interests in AIA Aurora LLC and ALICO Holdings LLC. On a quarterly basis, the accrued dividends are capitalized and added to the FRBNY's preferred interests in AIA Aurora LLC and ALICO Holdings LLC. 10. Consolidated Statement of Condition of All Federal Reserve Banks Millions of dollars Eliminations from Wednesday Change since consolidation Jul 14, 2010 Wednesday Wednesday Assets, liabilities, and capital Jul 7, 2010 Jul 15, 2009 Assets Gold certificate account 11,037 0 0 Special drawing rights certificate account 5,200 0 + 3,000 Coin 1,988 + 30 + 196 Securities, repurchase agreements, term auction credit, and other loans 2,134,247 + 7,272 + 435,120 Securities held outright (1) 2,067,676 + 7,627 + 755,526 U.S. Treasury securities 777,005 + 8 + 92,975 Bills (2) 18,423 0 0 Notes and bonds, nominal (2) 712,023 0 + 94,448 Notes and bonds, inflation-indexed (2) 41,125 0 - 1,814 Inflation compensation (3) 5,434 + 8 + 339 Federal agency debt securities (2) 162,111 - 2,651 + 60,410 Mortgage-backed securities (4) 1,128,560 + 10,270 + 602,142 Repurchase agreements (5) 0 0 0 Term auction credit 0 0 - 273,691 Other loans 66,571 - 354 - 46,715 Net portfolio holdings of Commercial Paper Funding Facility LLC (6) 1 0 - 111,052 Net portfolio holdings of Maiden Lane LLC (7) 28,562 + 36 + 2,584 Net portfolio holdings of Maiden Lane II LLC (8) 15,549 + 4 - 205 Net portfolio holdings of Maiden Lane III LLC (9) 22,967 + 42 + 4,153 Net portfolio holdings of TALF LLC (10) 506 0 + 506 Preferred interests in AIA Aurora LLC and ALICO Holdings LLC (11) 25,733 0 + 25,733 Items in process of collection (51) 356 - 310 - 100 Bank premises 2,231 + 1 + 30 Central bank liquidity swaps (12) 1,245 0 - 110,396 Other assets (13) 94,523 + 1,612 + 19,754 Total assets (51) 2,344,145 + 8,688 + 269,323 Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table. 10. Consolidated Statement of Condition of All Federal Reserve Banks (continued) Millions of dollars Eliminations from Wednesday Change since consolidation Jul 14, 2010 Wednesday Wednesday Assets, liabilities, and capital Jul 7, 2010 Jul 15, 2009 Liabilities Federal Reserve notes, net of F.R. Bank holdings 904,540 - 3,158 + 34,213 Reverse repurchase agreements (14) 62,265 - 639 - 4,077 Deposits (0) 1,301,268 + 11,351 + 222,078 Term deposits held by depository institutions 2,122 0 + 2,122 Other deposits held by depository institutions 1,071,263 + 12,146 + 262,439 U.S. Treasury, general account 7,866 - 8,609 - 57,368 U.S. Treasury, supplementary financing account 199,962 - 1 + 23 Foreign official 1,254 - 392 - 711 Other (0) 18,802 + 8,209 + 15,573 Deferred availability cash items (51) 2,356 - 1,070 - 530 Other liabilities and accrued dividends (15) 17,033 + 2,455 + 10,429 Total liabilities (51) 2,287,463 + 8,940 + 262,115 Capital accounts Capital paid in 26,661 + 1 + 2,149 Surplus 25,810 + 6 + 4,529 Other capital accounts 4,211 - 259 + 530 Total capital 56,682 - 252 + 7,208 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 11. 7. Refer to table 4 and the note on consolidation accompanying table 11. 8. Refer to table 5 and the note on consolidation accompanying table 11. 9. Refer to table 6 and the note on consolidation accompanying table 11. 10. Refer to table 8 and the note on consolidation accompanying table 11. 11. Refer to table 9. 12. Dollar value of foreign currency held under these agreements valued at the exchange rate to be used when the foreign currency is returned to the foreign central bank. This exchange rate equals the market exchange rate used when the foreign currency was acquired from the foreign central bank. 13. Includes other assets denominated in foreign currencies, which are revalued daily at market exchange rates, accrued dividends on the Federal Reserve Bank of New York's (FRBNY) preferred interests in AIA Aurora LLC and ALICO Holdings LLC, and the fair value adjustment to credit extended by the FRBNY to eligible borrowers through the Term Asset-Backed Securities Loan Facility. 14. Cash value of agreements, which are collateralized by U.S. Treasury securities and federal agency debt securities. 15. Includes the liabilities of Commercial Paper Funding Facility LLC, Maiden Lane LLC, Maiden Lane II LLC, Maiden Lane III LLC, and TALF LLC to entities other than the Federal Reserve Bank of New York, including liabilities that have recourse only to the portfolio holdings of these LLCs. Refer to table 4 through table 8 and the note on consolidation accompanying table 11. 11. Statement of Condition of Each Federal Reserve Bank, July 14, 2010 Millions of dollars Total Boston New York Philadelphia Cleveland Richmond Atlanta Chicago St. Louis Minneapolis Kansas Dallas San Assets, liabilities, and capital City Francisco Assets Gold certificate account 11,037 369 4,038 404 463 846 1,385 887 324 203 296 652 1,170 Special drawing rights certificate acct. 5,200 196 1,818 210 237 412 654 424 150 90 153 282 574 Coin 1,988 65 69 157 144 291 185 311 24 59 145 201 338 Securities, repurchase agreements, term auction credit, and other loans 2,134,247 52,326 910,060 48,288 70,251 235,492 195,668 155,886 53,418 28,338 70,931 86,835 226,754 Securities held outright (1) 2,067,676 52,326 843,721 48,286 70,251 235,486 195,659 155,875 53,260 28,306 70,930 86,823 226,754 U.S. Treasury securities 777,005 19,663 317,059 18,145 26,399 88,492 73,526 58,576 20,014 10,637 26,654 32,627 85,211 Bills (2) 18,423 466 7,517 430 626 2,098 1,743 1,389 475 252 632 774 2,020 Notes and bonds (3) 758,582 19,197 309,542 17,715 25,773 86,394 71,783 57,187 19,540 10,385 26,022 31,853 83,191 Federal agency debt securities (2) 162,111 4,102 66,150 3,786 5,508 18,463 15,340 12,221 4,176 2,219 5,561 6,807 17,778 Mortgage-backed securities (4) 1,128,560 28,560 460,512 26,355 38,344 128,531 106,793 85,078 29,070 15,450 38,714 47,389 123,765 Repurchase agreements (5) 0 0 0 0 0 0 0 0 0 0 0 0 0 Term auction credit 0 0 0 0 0 0 0 0 0 0 0 0 0 Other loans 66,571 0 66,339 2 0 6 9 12 158 31 1 12 0 Net portfolio holdings of Commercial Paper Funding Facility LLC (6) 1 0 1 0 0 0 0 0 0 0 0 0 0 Net portfolio holdings of Maiden Lane LLC (7) 28,562 0 28,562 0 0 0 0 0 0 0 0 0 0 Net portfolio holdings of Maiden Lane II LLC (8) 15,549 0 15,549 0 0 0 0 0 0 0 0 0 0 Net portfolio holdings of Maiden Lane III LLC (9) 22,967 0 22,967 0 0 0 0 0 0 0 0 0 0 Net portfolio holdings of TALF LLC (10) 506 0 506 0 0 0 0 0 0 0 0 0 0 Preferred interests in AIA Aurora LLC and ALICO Holdings LLC (11) 25,733 0 25,733 0 0 0 0 0 0 0 0 0 0 Items in process of collection 407 18 192 50 73 9 66 69 8 15 10 -161 58 Bank premises 2,231 123 258 70 143 238 219 210 135 109 266 248 212 Central bank liquidity swaps (12) 1,245 46 361 136 93 347 77 30 12 35 10 17 82 Other assets (13) 94,523 2,684 35,813 4,336 4,184 14,771 8,114 5,815 2,045 1,657 2,595 3,278 9,231 Interdistrict settlement account 0 - 10,049 + 110,573 + 16,542 - 15,541 + 29,332 - 46,576 - 43,789 - 16,172 + 11,827 - 23,175 - 5,574 - 7,399 Total assets 2,344,195 45,778 1,156,500 70,192 60,046 281,738 159,793 119,843 39,945 42,332 51,231 85,779 231,020 Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table. 11. Statement of Condition of Each Federal Reserve Bank, July 14, 2010 (continued) Millions of dollars Total Boston New York Philadelphia Cleveland Richmond Atlanta Chicago St. Louis Minneapolis Kansas Dallas San Assets, liabilities, and capital City Francisco Liabilities Federal Reserve notes outstanding 1,110,724 35,800 397,667 41,149 44,677 86,929 140,817 86,298 31,904 19,718 30,173 72,727 122,865 Less: Notes held by F.R. Banks 206,184 3,970 81,657 5,325 9,689 13,859 28,830 12,216 4,453 4,282 3,267 12,382 26,255 Federal Reserve notes, net 904,540 31,830 316,011 35,824 34,988 73,070 111,987 74,082 27,451 15,436 26,906 60,345 96,610 Reverse repurchase agreements (14) 62,265 1,576 25,407 1,454 2,115 7,091 5,892 4,694 1,604 852 2,136 2,615 6,828 Deposits 1,301,268 10,140 787,296 26,782 18,216 187,724 37,711 38,822 10,069 23,758 21,334 21,489 117,927 Term deposits held by depository institutions 2,122 24 931 0 13 52 28 19 56 6 6 14 973 Other deposits held by depository institutions 1,071,263 10,108 558,585 26,777 18,199 187,626 37,681 38,773 10,012 23,751 21,327 21,474 116,950 U.S. Treasury, general account 7,866 0 7,866 0 0 0 0 0 0 0 0 0 0 U.S. Treasury, supplementary financing account 199,962 0 199,962 0 0 0 0 0 0 0 0 0 0 Foreign official 1,254 1 1,226 4 3 11 2 1 0 1 0 1 3 Other 18,802 6 18,727 0 1 34 0 29 1 0 1 0 2 Deferred availability cash items 2,407 75 0 222 506 102 160 214 65 488 94 94 387 Other liabilities and accrued dividends (15) 17,033 255 11,823 264 335 1,015 771 635 259 173 286 382 835 Total liabilities 2,287,513 43,876 1,140,537 64,546 56,160 269,002 156,521 118,447 39,449 40,706 50,757 84,925 222,588 Capital Capital paid in 26,661 916 7,627 2,807 1,918 5,440 1,545 642 217 804 211 396 4,138 Surplus 25,810 945 7,607 2,803 1,911 7,141 1,581 620 239 712 210 353 1,688 Other capital 4,211 41 729 36 57 156 145 134 39 110 54 105 2,606 Total liabilities and capital 2,344,195 45,778 1,156,500 70,192 60,046 281,738 159,793 119,843 39,945 42,332 51,231 85,779 231,020 Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table. 11. Statement of Condition of Each Federal Reserve Bank, July 14, 2010 (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 4 and the note on consolidation below. 8. Refer to table 5 and the note on consolidation below. 9. Refer to table 6 and the note on consolidation below. 10. Refer to table 8 and the note on consolidation below. 11. Refer to table 9. 12. Dollar value of foreign currency held under these agreements valued at the exchange rate to be used when the foreign currency is returned to the foreign central bank. This exchange rate equals the market exchange rate used when the foreign currency was acquired from the foreign central bank. 13. Includes other assets denominated in foreign currencies, which are revalued daily at market exchange rates, accrued dividends on the Federal Reserve Bank of New York's (FRBNY) preferred interests in AIA Aurora LLC and ALICO Holdings LLC, and the fair value adjustment to credit extended by the FRBNY to eligible borrowers through the Term Asset-Backed Securities Loan Facility. 14. Cash value of agreements, which are collateralized by U.S. Treasury securities and federal agency debt securities. 15. Includes the liabilities of Commercial Paper Funding Facility LLC, Maiden Lane LLC, Maiden Lane II LLC, Maiden Lane III LLC, and TALF LLC to entities other than the Federal Reserve Bank of New York, including liabilities that have recourse only to the portfolio holdings of these LLCs. Refer to table 4 through table 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 November 25, 2008, a loan was extended to Maiden Lane III LLC, which was formed to purchase multi-sector collateralized debt obligations on which the Financial Products group of the American International Group, Inc. has written credit default swap contracts. On December 12, 2008, a loan was extended to Maiden Lane II LLC, which was formed to purchase residential mortgage-backed securities from the U.S. securities lending reinvestment portfolio of subsidiaries of American International Group, Inc. On November 25, 2008, the Federal Reserve Board authorized the FRBNY to extend credit to TALF LLC, which was formed to purchase and manage any asset-backed securities received by the FRBNY in connection with the decision of a borrower not to repay a loan extended under the Term Asset-Backed Securities Loan Facility. The FRBNY is the sole beneficiary of Commercial Paper Funding Facility LLC. The FRBNY is the primary beneficiary of TALF LLC, because of the two beneficiaries of the LLC, the FRBNY and the U.S. Treasury, the FRBNY is primarily responsible for directing the financial activities of TALF LLC. The FRBNY is the primary beneficiary of the other LLCs cited above because it will receive a majority of any residual returns of the LLCs and absorb a majority of any residual losses of the LLCs. Consistent with generally accepted accounting principles, the assets and liabilities of these LLCs have been consolidated with the assets and liabilities of the FRBNY in the preparation of the statements of condition shown on this release. As a consequence of the consolidation, the extensions of credit from the FRBNY to the LLCs are eliminated, the net assets of the LLCs appear as assets on the previous page (and in table 1 and table 10), 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 10). 12. Collateral Held against Federal Reserve Notes: Federal Reserve Agents' Accounts Millions of dollars Wednesday Federal Reserve notes and collateral Jul 14, 2010 Federal Reserve notes outstanding 1,110,724 Less: Notes held by F.R. Banks not subject to collateralization 206,184 Federal Reserve notes to be collateralized 904,540 Collateral held against Federal Reserve notes 904,540 Gold certificate account 11,037 Special drawing rights certificate account 5,200 U.S. Treasury, agency debt, and mortgage-backed securities pledged (1,2) 888,303 Other assets pledged 0 Memo: Total U.S. Treasury, agency debt, and mortgage-backed securities (1,2) 2,067,676 Less: Face value of securities under reverse repurchase agreements 60,877 U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 2,006,799 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.