FEDERAL RESERVE statistical release H.4.1 Factors Affecting Reserve Balances of Depository Institutions and Condition Statement of Federal Reserve Banks November 17, 2011 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 Nov 16, 2011 Federal Reserve Banks Nov 16, 2011 Nov 9, 2011 Nov 17, 2010 Reserve Bank credit 2,820,045 + 8,412 + 526,917 2,814,103 Securities held outright (1) 2,624,059 + 8,019 + 569,923 2,625,316 U.S. Treasury securities 1,668,748 + 9,637 + 809,568 1,675,836 Bills (2) 18,423 0 0 18,423 Notes and bonds, nominal (2) 1,572,638 + 10,961 + 780,602 1,579,718 Notes and bonds, inflation-indexed (2) 67,922 - 1,131 + 24,829 67,922 Inflation compensation (3) 9,766 - 192 + 4,138 9,774 Federal agency debt securities (2) 107,619 - 49 - 41,768 107,497 Mortgage-backed securities (4) 847,692 - 1,569 - 197,877 841,983 Repurchase agreements (5) 0 0 0 0 Loans 10,520 - 99 - 36,045 10,504 Primary credit 9 + 4 - 16 4 Secondary credit 0 0 0 0 Seasonal credit 20 - 4 0 17 Credit extended to American International Group, Inc., net (6) 0 0 - 19,651 0 Term Asset-Backed Securities Loan Facility (7) 10,491 - 100 - 16,379 10,484 Other credit extensions 0 0 0 0 Net portfolio holdings of Maiden Lane LLC (8) 12,302 - 670 - 15,790 10,600 Net portfolio holdings of Maiden Lane II LLC (9) 9,337 + 1 - 6,944 9,341 Net portfolio holdings of Maiden Lane III LLC (10) 18,060 + 11 - 5,264 17,832 Net portfolio holdings of TALF LLC (11) 794 0 + 172 794 Preferred interests in AIA Aurora LLC and ALICO Holdings LLC (6) 0 0 - 26,057 0 Float -1,158 - 350 + 775 -1,365 Central bank liquidity swaps (12) 2,349 + 404 + 2,285 2,349 Other Federal Reserve assets (13) 143,781 + 1,095 + 43,860 138,731 Gold stock 11,041 0 0 11,041 Special drawing rights certificate account 5,200 0 0 5,200 Treasury currency outstanding (14) 44,166 + 14 + 692 44,166 Total factors supplying reserve funds 2,880,452 + 8,426 + 527,609 2,874,510 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 Nov 16, 2011 Federal Reserve Banks Nov 16, 2011 Nov 9, 2011 Nov 17, 2010 Currency in circulation (14) 1,057,619 + 5,470 + 84,085 1,058,154 Reverse repurchase agreements (15) 93,682 + 600 + 38,937 96,829 Foreign official and international accounts 93,682 + 600 + 38,937 96,829 Others 0 0 0 0 Treasury cash holdings 111 0 - 57 106 Deposits with F.R. Banks, other than reserve balances 75,313 - 14,087 - 165,680 74,714 Term deposits held by depository institutions 0 0 0 0 U.S. Treasury, General Account 29,786 - 7,243 + 7,999 44,782 U.S. Treasury, Supplementary Financing Account 0 0 - 199,959 0 Foreign official 153 + 28 - 1,499 125 Service-related 2,505 0 + 140 2,505 Required clearing balances 2,505 0 + 140 2,505 Adjustments to compensate for float 0 0 0 0 Other 42,868 - 6,873 + 27,638 27,302 Funds from American International Group, Inc. asset dispositions, held as agent (6) 0 0 - 26,761 0 Other liabilities and capital (16) 69,909 + 1,245 - 2,996 69,644 Total factors, other than reserve balances, absorbing reserve funds 1,296,634 - 6,772 - 72,473 1,299,447 Reserve balances with Federal Reserve Banks 1,583,818 + 15,198 + 600,082 1,575,063 Note: Components may not sum to totals because of rounding. 1. Includes securities lent to dealers under the overnight securities lending facility; refer to table 1A. 2. Face value of the securities. 3. Compensation that adjusts for the effect of inflation on the original face value of inflation-indexed securities. 4. Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. Current face value of the securities, which is the remaining principal balance of the underlying mortgages. 5. Cash value of agreements. 6. As a result of the closing of the American International Group, Inc. (AIG) recapitalization plan on January 14, 2011, the credit extended to AIG was fully repaid and the Federal Reserve's commitment to lend any further funds was terminated. In addition, the Federal Reserve Bank of New York (FRBNY) has been paid in full for its preferred interests in AIA Aurora LLC and ALICO Holdings LLC. The funds from AIG asset dispositions that FRBNY held as agent were the source of repayment of the credit extended to AIG, as well as a portion of the FRBNY's preferred interests in ALICO Holdings LLC. The remaining FRBNY preferred interests in ALICO Holdings LLC and AIA Aurora LLC, valued at approximately $20 billion, were purchased by AIG through a draw on the Treasury's Series F preferred stock commitment and then transferred by AIG to the Treasury as consideration for the draw on the available Series F funds. 7. Includes credit extended by the Federal Reserve Bank of New York to eligible borrowers through the Term Asset-Backed Securities Loan Facility. 8. Refer to table 4 and the note on consolidation accompanying table 9. 9. Refer to table 5 and the note on consolidation accompanying table 9. 10. Refer to table 6 and the note on consolidation accompanying table 9. 11. Refer to table 7 and the note on consolidation accompanying table 9. 12. Dollar value of foreign currency held under these agreements valued at the exchange rate to be used when the foreign currency is returned to the foreign central bank. This exchange rate equals the market exchange rate used when the foreign currency was acquired from the foreign central bank. 13. Includes other assets denominated in foreign currencies, which are revalued daily at market exchange rates, and the fair value adjustment to credit extended by the FRBNY to eligible borrowers through the Term Asset-Backed Securities Loan Facility. Before the closing of the AIG recapitalization plan on January 14, 2011, included accrued dividends on the FRBNY's preferred interests in AIA Aurora LLC and ALICO Holdings LLC. 14. Estimated. 15. Cash value of agreements, which are collateralized by U.S. Treasury securities, federal agency debt securities, and mortgage-backed securities. 16. Includes the liabilities of Maiden Lane LLC, Maiden Lane II LLC, Maiden Lane III LLC, and TALF LLC to entities other than the Federal Reserve Bank of New York, including liabilities that have recourse only to the portfolio holdings of these LLCs. Refer to table 4 through table 7 and the note on consolidation accompanying table 9. Also includes the liability for interest on Federal Reserve notes due to U.S. Treasury. Refer to table 8 and table 9. Sources: Federal Reserve Banks and the U.S. Department of the Treasury. 1A. Memorandum Items Millions of dollars Averages of daily figures Wednesday Week ended Change from week ended Nov 16, 2011 Memorandum item Nov 16, 2011 Nov 9, 2011 Nov 17, 2010 Marketable securities held in custody for foreign official and international accounts (1) 3,453,711 + 11,062 + 112,798 3,469,106 U.S. Treasury securities 2,732,773 + 12,543 + 122,212 2,750,373 Federal agency securities (2) 720,938 - 1,481 - 9,414 718,733 Securities lent to dealers 11,329 + 357 + 6,362 11,670 Overnight facility (3) 11,329 + 357 + 6,362 11,670 U.S. Treasury securities 10,179 + 255 + 6,521 10,365 Federal agency debt securities 1,150 + 103 - 159 1,305 Note: Components may not sum to totals because of rounding. 1. Face value of the securities. Includes U.S. Treasury STRIPS and other zero-coupon bonds at face value and mortgage-backed securities at original face value. 2. Includes debt and mortgage-backed securities. 3. Fully collateralized by U.S. Treasury securities. 2. Maturity Distribution of Securities, Loans, and Selected Other Assets and Liabilities, November 16, 2011 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 Loans (1) 20 0 4,291 6,193 0 ... 10,504 U.S. Treasury securities (2) Holdings 20,989 14,869 117,004 692,252 604,361 226,362 1,675,836 Weekly changes + 7,124 - 12,633 + 1,471 + 12,982 - 8,601 + 7,383 + 7,725 Federal agency debt securities (3) Holdings 1,588 4,411 20,446 62,559 16,146 2,347 107,497 Weekly changes - 171 0 + 850 - 850 0 0 - 171 Mortgage-backed securities (4) Holdings 0 0 0 12 22 841,948 841,983 Weekly changes 0 0 0 0 - 1 - 7,277 - 7,278 Asset-backed securities held by TALF LLC (5) 0 0 0 0 0 0 0 Repurchase agreements (6) 0 0 ... ... ... ... 0 Central bank liquidity swaps (7) 501 1,848 0 0 0 0 2,349 Reverse repurchase agreements (6) 96,829 0 ... ... ... ... 96,829 Term deposits 0 0 0 ... ... ... 0 Note: Components may not sum to totals because of rounding. . . . Not applicable. 1. Excludes the loans from the Federal Reserve Bank of New York (FRBNY) to Maiden Lane LLC, Maiden Lane II LLC, Maiden Lane III LLC, and TALF LLC. The loans were eliminated when preparing the FRBNY's statement of condition consistent with consolidation under generally accepted accounting principles. 2. Face value. For inflation-indexed securities, includes the original face value and compensation that adjusts for the effect of inflation on the original face value of such securities. 3. Face value. 4. Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. Current face value of the securities, which is the remaining principal balance of the underlying mortgages. 5. Face value of asset-backed securities held by TALF LLC, which is the remaining principal balance of the underlying assets. 6. Cash value of agreements. 7. Dollar value of foreign currency held under these agreements valued at the exchange rate to be used when the foreign currency is returned to the foreign central bank. This exchange rate equals the market exchange rate used when the foreign currency was acquired from the foreign central bank. 3. Supplemental Information on Mortgage-Backed Securities Millions of dollars Wednesday Account name Nov 16, 2011 Mortgage-backed securities held outright (1) 841,983 Commitments to buy mortgage-backed securities (2) 33,261 Commitments to sell mortgage-backed securities (2) 0 Cash and cash equivalents (3) 21 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, dollar rolls, and coupon swaps. 3. This amount is included in other Federal Reserve assets in table 1 and in other assets in table 8 and table 9. 4. Information on Principal Accounts of Maiden Lane LLC Millions of dollars Wednesday Account name Nov 16, 2011 Net portfolio holdings of Maiden Lane LLC (1) 10,600 Outstanding principal amount of loan extended by the Federal Reserve Bank of New York (2) 7,523 Accrued interest payable to the Federal Reserve Bank of New York (2) 749 Outstanding principal amount and accrued interest on loan payable to JPMorgan Chase & Co. (3) 1,376 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 September 30, 2011. Any assets purchased after this valuation date are initially recorded at cost until their estimated fair value as of the purchase date becomes available. 2. Book value. This amount was eliminated when preparing the Federal Reserve Bank of New York's statement of condition consistent with consolidation under generally accepted accounting principles. Refer to the note on consolidation accompanying table 9. 3. Book value. The fair value of these obligations is included in other liabilities and capital in table 1 and in other liabilities and accrued dividends in table 8 and table 9. Note: On June 26, 2008, the Federal Reserve Bank of New York (FRBNY) extended credit to Maiden Lane LLC under the authority of section 13(3) of the Federal Reserve Act. This limited liability company was formed to acquire certain assets of Bear Stearns and to manage those assets through time to maximize repayment of the credit extended and to minimize disruption to financial markets. Payments by Maiden Lane LLC from the proceeds of the net portfolio holdings will be made in the following order: operating expenses of the LLC, principal due to the FRBNY, interest due to the FRBNY, principal due to JPMorgan Chase & Co., and interest due to JPMorgan Chase & Co. Any remaining funds will be paid to the FRBNY. 5. Information on Principal Accounts of Maiden Lane II LLC Millions of dollars Wednesday Account name Nov 16, 2011 Net portfolio holdings of Maiden Lane II LLC (1) 9,341 Outstanding principal amount of loan extended by the Federal Reserve Bank of New York (2) 6,368 Accrued interest payable to the Federal Reserve Bank of New York (2) 558 Deferred payment and accrued interest payable to subsidiaries of American International Group, Inc. (3) 1,102 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 September 30, 2011. Any assets purchased after this valuation date are initially recorded at cost until their estimated fair value as of the purchase date becomes available. 2. Book value. This amount was eliminated when preparing the Federal Reserve Bank of New York's statement of condition consistent with consolidation under generally accepted accounting principles. Refer to the note on consolidation accompanying table 9. 3. Book value. The deferred payment represents the portion of the proceeds of the net portfolio holdings due to subsidiaries of American International Group, Inc. in accordance with the asset purchase agreement. The fair value of this payment and accrued interest payable are included in other liabilities and capital in table 1 and in other liabilities and accrued dividends in table 8 and table 9. Note: On December 12, 2008, the Federal Reserve Bank of New York (FRBNY) began extending credit to Maiden Lane II LLC under the authority of section 13(3) of the Federal Reserve Act. This limited liability company was formed to purchase residential mortgage-backed securities from the U.S. securities lending reinvestment portfolio of subsidiaries of American International Group, Inc. (AIG subsidiaries). Payments by Maiden Lane II LLC from the proceeds of the net portfolio holdings will be made in the following order: operating expenses of Maiden Lane II LLC, principal due to the FRBNY, interest due to the FRBNY, and deferred payment and interest due to AIG subsidiaries. Any remaining funds will be shared by the FRBNY and AIG subsidiaries. 6. Information on Principal Accounts of Maiden Lane III LLC Millions of dollars Wednesday Account name Nov 16, 2011 Net portfolio holdings of Maiden Lane III LLC (1) 17,832 Outstanding principal amount of loan extended by the Federal Reserve Bank of New York (2) 9,406 Accrued interest payable to the Federal Reserve Bank of New York (2) 676 Outstanding principal amount and accrued interest on loan payable to American International Group, Inc. (3) 5,519 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 September 30, 2011. Any assets purchased after this valuation date are initially recorded at cost until their estimated fair value as of the purchase date becomes available. 2. Book value. This amount was eliminated when preparing the Federal Reserve Bank of New York's statement of condition consistent with consolidation under generally accepted accounting principles. Refer to the note on consolidation accompanying table 9. 3. Book value. The fair value of these obligations is included in other liabilities and capital in table 1 and in other liabilities and accrued dividends in table 8 and table 9. Note: On November 25, 2008, the Federal Reserve Bank of New York (FRBNY) began extending credit to Maiden Lane III LLC under the authority of section 13(3) of the Federal Reserve Act. This limited liability company was formed to purchase multi-sector collateralized debt obligations (CDOs) on which the Financial Products group of American International Group, Inc. (AIG) has written credit default swap (CDS) contracts. In connection with the purchase of CDOs, the CDS counterparties will concurrently unwind the related CDS transactions. Payments by Maiden Lane III LLC from the proceeds of the net portfolio holdings will be made in the following order: operating expenses of Maiden Lane III LLC, principal due to the FRBNY, interest due to the FRBNY, principal due to AIG, and interest due to AIG. Any remaining funds will be shared by the FRBNY and AIG. 7. Information on Principal Accounts of TALF LLC Millions of dollars Wednesday Account name Nov 16, 2011 Asset-backed securities holdings (1) 0 Other investments, net 794 Net portfolio holdings of TALF LLC 794 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) 109 1. Fair value. Fair value reflects an estimate of the price that would be received upon selling an asset if the transaction were to be conducted in an orderly market on the measurement date. 2. Book value. This amount was eliminated when preparing the Federal Reserve Bank of New York's statement of condition consistent with consolidation under generally accepted accounting principles. Refer to the note on consolidation accompanying table 9. 3. Book value. The fair value of these obligations is included in other liabilities and capital in table 1 and in other liabilities and accrued dividends in table 8 and table 9. Note: On November 25, 2008, the Federal Reserve announced the creation of the Term Asset-Backed Securities Loan Facility (TALF) under the authority of section 13(3) of the Federal Reserve Act. The TALF is a facility under which the Federal Reserve Bank of New York (FRBNY) 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 $4.3 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. 8. Consolidated Statement of Condition of All Federal Reserve Banks Millions of dollars Eliminations from Wednesday Change since consolidation Nov 16, 2011 Wednesday Wednesday Assets, liabilities, and capital Nov 9, 2011 Nov 17, 2010 Assets Gold certificate account 11,037 0 0 Special drawing rights certificate account 5,200 0 0 Coin 2,282 - 14 + 158 Securities, repurchase agreements, and loans 2,635,820 + 175 + 527,927 Securities held outright (1) 2,625,316 + 276 + 564,426 U.S. Treasury securities 1,675,836 + 7,725 + 802,218 Bills (2) 18,423 0 0 Notes and bonds, nominal (2) 1,579,718 + 9,273 + 773,400 Notes and bonds, inflation-indexed (2) 67,922 - 1,330 + 24,675 Inflation compensation (3) 9,774 - 218 + 4,143 Federal agency debt securities (2) 107,497 - 171 - 41,497 Mortgage-backed securities (4) 841,983 - 7,278 - 196,295 Repurchase agreements (5) 0 0 0 Loans 10,504 - 101 - 36,499 Net portfolio holdings of Maiden Lane LLC (6) 10,600 - 2,379 - 16,928 Net portfolio holdings of Maiden Lane II LLC (7) 9,341 + 4 - 6,944 Net portfolio holdings of Maiden Lane III LLC (8) 17,832 - 322 - 5,507 Net portfolio holdings of TALF LLC (9) 794 0 + 172 Preferred interests in AIA Aurora LLC and ALICO Holdings LLC (10) 0 0 - 26,057 Items in process of collection (105) 201 - 106 - 148 Bank premises 2,181 + 2 - 44 Central bank liquidity swaps (11) 2,349 + 389 + 2,284 Other assets (12) 136,549 - 5,980 + 41,558 Total assets (105) 2,834,186 - 8,231 + 516,470 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 Eliminations from Wednesday Change since consolidation Nov 16, 2011 Wednesday Wednesday Assets, liabilities, and capital Nov 9, 2011 Nov 17, 2010 Liabilities Federal Reserve notes, net of F.R. Bank holdings 1,016,372 + 1,180 + 83,995 Reverse repurchase agreements (13) 96,829 + 9,181 + 42,630 Deposits (0) 1,649,775 - 19,605 + 420,116 Term deposits held by depository institutions 0 0 0 Other deposits held by depository institutions 1,577,567 - 16,070 + 588,701 U.S. Treasury, General Account 44,782 + 20,589 + 6,077 U.S. Treasury, Supplementary Financing Account 0 0 - 199,959 Foreign official 125 0 - 1,616 Other (0) 27,302 - 24,123 + 26,915 Deferred availability cash items (105) 1,566 + 85 - 743 Other liabilities and accrued dividends (14) 17,477 + 868 - 25,383 Total liabilities (105) 2,782,020 - 8,290 + 520,616 Capital accounts Capital paid in 26,083 + 30 - 656 Surplus 26,083 + 30 + 168 Other capital accounts 0 0 - 3,658 Total capital 52,166 + 59 - 4,146 Note: Components may not sum to totals because of rounding. 1. Includes securities lent to dealers under the overnight securities lending facility; refer to table 1A. 2. Face value of the securities. 3. Compensation that adjusts for the effect of inflation on the original face value of inflation-indexed securities. 4. Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. 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 4 and the note on consolidation accompanying table 9. 7. Refer to table 5 and the note on consolidation accompanying table 9. 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. As a result of the closing of the AIG recapitalization plan on January 14, 2011, the Federal Reserve Bank of New York has been paid in full for its preferred interests in AIA Aurora LLC and ALICO Holdings LLC. A portion of the preferred interests was redeemed by AIG with the funds from AIG asset dispositions that were held as agent by the Federal Reserve. 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 and the fair value adjustment to credit extended by the Federal Reserve Bank of New York (FRBNY) to eligible borrowers through the Term Asset-Backed Securities Loan Facility. Before the closing of the AIG recapitalization plan on January 14, 2011, included accrued dividends on the FRBNY's preferred interests in AIA Aurora LLC and ALICO Holdings LLC. 13. Cash value of agreements, which are collateralized by U.S. Treasury securities, federal agency debt securities, and mortgage-backed securities. 14. Includes the liabilities of Maiden Lane LLC, Maiden Lane II LLC, Maiden Lane III LLC, and TALF LLC to entities other than the Federal Reserve Bank of New York, including liabilities that have recourse only to the portfolio holdings of these LLCs. Refer to table 4 through table 7 and the note on consolidation accompanying table 9. Also includes the liability for interest on Federal Reserve notes due to U.S. Treasury. Before the closing of the AIG recapitalization plan on January 14, 2011, included funds from American International Group, Inc. asset dispositions, held as agent. 9. Statement of Condition of Each Federal Reserve Bank, November 16, 2011 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 11,037 390 3,866 432 450 872 1,394 854 319 197 318 728 1,217 Special drawing rights certificate acct. 5,200 196 1,818 210 237 412 654 424 150 90 153 282 574 Coin 2,282 57 85 162 167 394 204 336 33 58 171 236 379 Securities, repurchase agreements, and loans 2,635,820 64,547 1,231,368 89,933 70,915 303,197 195,173 155,911 49,690 40,351 69,843 103,832 261,058 Securities held outright (1) 2,625,316 64,547 1,220,885 89,933 70,915 303,197 195,173 155,906 49,689 40,347 69,835 103,831 261,057 U.S. Treasury securities 1,675,836 41,203 779,336 57,408 45,268 193,542 124,586 99,520 31,719 25,755 44,578 66,279 166,643 Bills (2) 18,423 453 8,567 631 498 2,128 1,370 1,094 349 283 490 729 1,832 Notes and bonds (3) 1,657,413 40,750 770,768 56,776 44,770 191,414 123,216 98,426 31,370 25,472 44,088 65,551 164,811 Federal agency debt securities (2) 107,497 2,643 49,991 3,682 2,904 12,415 7,992 6,384 2,035 1,652 2,859 4,252 10,689 Mortgage-backed securities (4) 841,983 20,701 391,558 28,843 22,744 97,240 62,595 50,002 15,936 12,940 22,397 33,300 83,725 Repurchase agreements (5) 0 0 0 0 0 0 0 0 0 0 0 0 0 Loans 10,504 0 10,484 0 0 0 1 6 1 4 8 0 1 Net portfolio holdings of Maiden Lane LLC (6) 10,600 0 10,600 0 0 0 0 0 0 0 0 0 0 Net portfolio holdings of Maiden Lane II LLC (7) 9,341 0 9,341 0 0 0 0 0 0 0 0 0 0 Net portfolio holdings of Maiden Lane III LLC (8) 17,832 0 17,832 0 0 0 0 0 0 0 0 0 0 Net portfolio holdings of TALF LLC (9) 794 0 794 0 0 0 0 0 0 0 0 0 0 Preferred interests in AIA Aurora LLC and ALICO Holdings LLC (10) 0 0 0 0 0 0 0 0 0 0 0 0 0 Items in process of collection 306 11 0 62 73 6 -93 32 7 24 7 18 159 Bank premises 2,181 122 257 67 126 233 214 206 134 105 259 246 212 Central bank liquidity swaps (11) 2,349 81 680 228 174 482 135 60 19 73 21 36 361 Other assets (12) 136,549 3,644 58,597 6,463 4,946 18,208 9,705 7,186 2,310 2,543 3,170 4,775 15,002 Interdistrict settlement account 0 + 3,716 + 225,489 - 11,599 + 2,745 - 122,302 - 31,148 - 7,966 - 7,156 - 15,595 - 17,332 + 3,850 - 22,704 Total assets 2,834,291 72,764 1,560,727 85,958 79,833 201,502 176,238 157,042 45,507 27,846 56,611 114,002 256,259 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, November 16, 2011 (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 1,186,224 44,236 402,932 46,405 54,565 95,483 145,793 90,395 33,779 21,015 35,009 80,874 135,739 Less: Notes held by F.R. Banks 169,852 5,342 45,324 6,950 10,307 11,672 25,896 12,876 4,308 5,423 3,802 12,025 25,928 Federal Reserve notes, net 1,016,372 38,894 357,608 39,455 44,258 83,811 119,897 77,519 29,471 15,591 31,207 68,850 109,811 Reverse repurchase agreements (13) 96,829 2,381 45,030 3,317 2,616 11,183 7,199 5,750 1,833 1,488 2,576 3,830 9,629 Deposits 1,649,775 29,293 1,129,237 37,795 28,458 94,441 45,492 71,694 13,498 10,135 22,028 40,120 127,584 Term deposits held by depository institutions 0 0 0 0 0 0 0 0 0 0 0 0 0 Other deposits held by depository institutions 1,577,567 29,289 1,057,250 37,830 28,455 94,290 45,489 71,659 13,458 10,132 22,021 40,119 127,575 U.S. Treasury, General Account 44,782 0 44,782 0 0 0 0 0 0 0 0 0 0 U.S. Treasury, Supplementary Financing Account 0 0 0 0 0 0 0 0 0 0 0 0 0 Foreign official 125 1 97 4 3 8 2 1 0 1 0 1 6 Other 27,302 3 27,109 -38 1 143 0 34 40 2 6 0 3 Deferred availability cash items 1,671 87 0 260 212 58 97 114 68 256 93 94 332 Interest on Federal Reserve notes due to U.S. Treasury (14) 1,215 32 514 46 38 165 71 79 33 21 35 53 130 Other liabilities and accrued dividends (15) 16,262 191 12,738 268 275 724 426 364 167 136 165 259 548 Total liabilities 2,782,125 70,879 1,545,128 81,142 75,857 190,381 173,182 155,520 45,069 27,627 56,103 113,204 248,035 Capital Capital paid in 26,083 943 7,800 2,408 1,988 5,561 1,528 761 219 110 254 399 4,112 Surplus 26,083 943 7,800 2,408 1,988 5,561 1,528 761 219 110 254 399 4,112 Other capital 0 0 0 0 0 0 0 0 0 0 0 0 0 Total liabilities and capital 2,834,291 72,764 1,560,727 85,958 79,833 201,502 176,238 157,042 45,507 27,846 56,611 114,002 256,259 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, November 16, 2011 (continued) 1. Includes securities lent to dealers under the overnight securities lending facility; refer to table 1A. 2. Face value of the securities. 3. Includes the original face value of inflation-indexed securities and compensation that adjusts for the effect of inflation on the original face value of such securities. 4. Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. 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 4 and the note on consolidation below. 7. Refer to table 5 and the note on consolidation below. 8. Refer to table 6 and the note on consolidation below. 9. Refer to table 7 and the note on consolidation below. 10. As a result of the closing of the AIG recapitalization plan on January 14, 2011, the Federal Reserve Bank of New York has been paid in full for its preferred interests in AIA Aurora LLC and ALICO Holdings LLC. A portion of the preferred interests was redeemed by AIG with the funds from AIG asset dispositions that were held as agent by the Federal Reserve. 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 and the fair value adjustment to credit extended by the Federal Reserve Bank of New York (FRBNY) to eligible borrowers through the Term Asset-Backed Securities Loan Facility. Before the closing of the AIG recapitalization plan on January 14, 2011, included accrued dividends on the FRBNY's preferred interests in AIA Aurora LLC and ALICO Holdings LLC. 13. Cash value of agreements, which are collateralized by U.S. Treasury securities, federal agency debt securities, and mortgage-backed securities. 14. Represents the estimated weekly remittances to U.S Treasury as interest on Federal Reserve notes or, in those cases where the Reserve Bank's net earnings are not sufficient to equate surplus to capital paid-in, the deferred asset for interest on Federal Reserve notes. The amount of any deferred asset, which is presented as a negative amount in this line, represents the amount of the Federal Reserve Bank's earnings that must be retained before remittances to the U.S. Treasury resume. The amounts on this line are calculated in accordance with Board of Governors policy, which requires the Federal Reserve Banks to remit residual earnings to the U.S. Treasury as interest on Federal Reserve notes after providing for the costs of operations, payment of dividends, and the amount necessary to equate surplus with capital paid-in. 15. Includes the liabilities of Maiden Lane LLC, Maiden Lane II LLC, Maiden Lane III LLC, and TALF LLC to entities other than the Federal Reserve Bank of New York, including liabilities that have recourse only to the portfolio holdings of these LLCs. Refer to table 4 through table 7 and the note on consolidation below. Before the closing of the AIG recapitalization plan on January 14, 2011, included funds from American International Group, Inc. asset dispositions, held as agent. Note on consolidation: The Federal Reserve Bank of New York (FRBNY) has extended loans to several limited liability companies under the authority of section 13(3) of the Federal Reserve Act. On June 26, 2008, a loan was extended to Maiden Lane LLC, which was formed to acquire certain assets of Bear Stearns. On November 25, 2008, a loan was extended to Maiden Lane III LLC, which was formed to purchase multi-sector collateralized debt obligations on which the Financial Products group of the American International Group, Inc. has written credit default swap contracts. On December 12, 2008, a loan was extended to Maiden Lane II LLC, which was formed to purchase residential mortgage-backed securities from the U.S. securities lending reinvestment portfolio of subsidiaries of American International Group, Inc. On November 25, 2008, the Federal Reserve Board authorized the FRBNY to extend credit to TALF LLC, which was formed to purchase and manage any asset-backed securities received by the FRBNY in connection with the decision of a borrower not to repay a loan extended under the Term Asset-Backed Securities Loan Facility. The FRBNY is the primary beneficiary of TALF LLC, because of the two beneficiaries of the LLC, the FRBNY and the U.S. Treasury, the FRBNY is primarily responsible for directing the financial activities of TALF LLC. The FRBNY is the primary beneficiary of the other LLCs cited above because it will receive a majority of any residual returns of the LLCs and absorb a majority of any residual losses of the LLCs. Consistent with generally accepted accounting principles, the assets and liabilities of these LLCs have been consolidated with the assets and liabilities of the FRBNY in the preparation of the statements of condition shown on this release. As a consequence of the consolidation, the extensions of credit from the FRBNY to the LLCs are eliminated, the net assets of the LLCs appear as assets on the previous page (and in table 1 and table 8), and the liabilities of the LLCs to entities other than the FRBNY, including those with recourse only to the portfolio holdings of the LLCs, are included in other liabilities in this table (and table 1 and table 8). 10. Collateral Held against Federal Reserve Notes: Federal Reserve Agents' Accounts Millions of dollars Wednesday Federal Reserve notes and collateral Nov 16, 2011 Federal Reserve notes outstanding 1,186,224 Less: Notes held by F.R. Banks not subject to collateralization 169,852 Federal Reserve notes to be collateralized 1,016,372 Collateral held against Federal Reserve notes 1,016,372 Gold certificate account 11,037 Special drawing rights certificate account 5,200 U.S. Treasury, agency debt, and mortgage-backed securities pledged (1,2) 1,000,136 Other assets pledged 0 Memo: Total U.S. Treasury, agency debt, and mortgage-backed securities (1,2) 2,625,316 Less: Face value of securities under reverse repurchase agreements 84,329 U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 2,540,987 Note: Components may not sum to totals because of rounding. 1. Includes face value of U.S. Treasury, agency debt, and mortgage-backed securities held outright, compensation to adjust for the effect of inflation on the original face value of inflation-indexed securities, and cash value of repurchase agreements. 2. Includes securities lent to dealers under the overnight securities lending facility; refer to table 1A.