FEDERAL RESERVE statistical release H.4.1 Factors Affecting Reserve Balances of Depository Institutions and Condition Statement of Federal Reserve Banks March 1, 2012 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 Feb 29, 2012 Federal Reserve Banks Feb 29, 2012 Feb 22, 2012 Mar 2, 2011 Reserve Bank credit 2,908,201 - 9,234 + 389,534 2,908,375 Securities held outright (1) 2,602,642 - 10,138 + 284,024 2,603,213 U.S. Treasury securities 1,653,961 - 6,213 + 428,973 1,661,601 Bills (2) 18,423 0 0 18,423 Notes and bonds, nominal (2) 1,557,676 - 6,188 + 411,601 1,565,224 Notes and bonds, inflation-indexed (2) 68,779 + 19 + 14,705 68,888 Inflation compensation (3) 9,083 - 44 + 2,668 9,066 Federal agency debt securities (2) 100,817 0 - 42,556 100,817 Mortgage-backed securities (4) 847,865 - 3,924 - 102,391 840,795 Repurchase agreements (5) 0 0 0 0 Loans 7,588 - 358 - 12,946 7,580 Primary credit 19 + 15 + 1 15 Secondary credit 0 0 0 0 Seasonal credit 0 0 - 5 0 Term Asset-Backed Securities Loan Facility (6) 7,569 - 374 - 12,942 7,564 Other credit extensions 0 0 0 0 Net portfolio holdings of Maiden Lane LLC (7) 6,495 + 16 - 19,550 6,439 Net portfolio holdings of Maiden Lane II LLC (8) 6,799 + 85 - 9,237 7,301 Net portfolio holdings of Maiden Lane III LLC (9) 17,604 + 9 - 5,220 17,611 Net portfolio holdings of TALF LLC (10) 825 + 5 + 122 825 Float -846 + 62 + 724 -909 Central bank liquidity swaps (11) 107,778 - 181 + 107,708 107,763 Other Federal Reserve assets (12) 159,317 + 1,267 + 43,909 158,552 Gold stock 11,041 0 0 11,041 Special drawing rights certificate account 5,200 0 0 5,200 Treasury currency outstanding (13) 44,310 + 14 + 572 44,310 Total factors supplying reserve funds 2,968,751 - 9,220 + 390,105 2,968,926 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 Feb 29, 2012 Federal Reserve Banks Feb 29, 2012 Feb 22, 2012 Mar 2, 2011 Currency in circulation (13) 1,089,200 + 245 + 92,086 1,091,646 Reverse repurchase agreements (14) 89,804 + 911 + 29,179 87,553 Foreign official and international accounts 89,804 + 911 + 29,179 87,553 Others 0 0 0 0 Treasury cash holdings 160 + 3 - 26 161 Deposits with F.R. Banks, other than reserve balances 106,075 + 3,091 - 49,019 109,326 Term deposits held by depository institutions 0 0 - 5,070 0 U.S. Treasury, General Account 39,475 - 16,320 - 7,583 62,542 U.S. Treasury, Supplementary Financing Account 0 0 - 99,980 0 Foreign official 181 + 43 + 3 127 Service-related 1,955 - 16 - 365 1,955 Required clearing balances 1,955 - 16 - 365 1,955 Adjustments to compensate for float 0 0 0 0 Other 64,465 + 19,384 + 63,978 44,702 Other liabilities and capital (15) 75,494 + 255 + 2,252 75,070 Total factors, other than reserve balances, absorbing reserve funds 1,360,733 + 4,504 + 74,472 1,363,756 Reserve balances with Federal Reserve Banks 1,608,018 - 13,724 + 315,633 1,605,170 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. Includes credit extended by the Federal Reserve Bank of New York to eligible borrowers through the Term Asset-Backed Securities Loan Facility. 7. Refer to table 4 and the note on consolidation accompanying table 9. 8. Refer to table 5 and the note on consolidation accompanying table 9. 9. Refer to table 6 and the note on consolidation accompanying table 9. 10. Refer to table 7 and the note on consolidation accompanying table 9. 11. Dollar value of foreign currency held under these agreements valued at the exchange rate to be used when the foreign currency is returned to the foreign central bank. This exchange rate equals the market exchange rate used when the foreign currency was acquired from the foreign central bank. 12. Includes other assets denominated in foreign currencies, which are revalued daily at market exchange rates, and the fair value adjustment to credit extended by the FRBNY to eligible borrowers through the Term Asset-Backed Securities Loan Facility. 13. Estimated. 14. Cash value of agreements, which are collateralized by U.S. Treasury securities, federal agency debt securities, and mortgage-backed securities. 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 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 Feb 29, 2012 Memorandum item Feb 29, 2012 Feb 22, 2012 Mar 2, 2011 Marketable securities held in custody for foreign official and international accounts (1) 3,459,526 - 2,299 + 75,076 3,460,018 U.S. Treasury securities 2,721,132 - 6,660 + 97,506 2,719,219 Federal agency securities (2) 738,394 + 4,361 - 22,430 740,799 Securities lent to dealers 18,473 - 894 + 4,338 19,263 Overnight facility (3) 18,473 - 894 + 4,338 19,263 U.S. Treasury securities 17,398 - 983 + 4,545 17,884 Federal agency debt securities 1,075 + 89 - 207 1,379 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, February 29, 2012 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) 15 235 4,726 2,604 0 ... 7,580 U.S. Treasury securities (2) Holdings 16,720 28,228 64,782 600,747 687,885 263,238 1,661,601 Weekly changes + 546 - 2,080 + 5,854 - 2,527 - 641 + 3,867 + 5,020 Federal agency debt securities (3) Holdings 1,825 5,740 19,664 60,259 10,982 2,347 100,817 Weekly changes + 811 - 811 + 1,025 - 1,025 0 0 0 Mortgage-backed securities (4) Holdings 0 0 1 11 82 840,701 840,795 Weekly changes 0 0 0 - 1 - 1 - 12,248 - 12,250 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) 59,123 48,641 0 0 0 0 107,763 Reverse repurchase agreements (6) 87,553 0 ... ... ... ... 87,553 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 Feb 29, 2012 Mortgage-backed securities held outright (1) 840,795 Commitments to buy mortgage-backed securities (2) 39,301 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 Feb 29, 2012 Net portfolio holdings of Maiden Lane LLC (1) 6,439 Outstanding principal amount of loan extended by the Federal Reserve Bank of New York (2) 3,265 Accrued interest payable to the Federal Reserve Bank of New York (2) 761 Outstanding principal amount and accrued interest on loan payable to JPMorgan Chase & Co. (3) 1,397 1. Fair value. Fair value reflects an estimate of the price that would be received upon selling an asset if the transaction were to be conducted in an orderly market on the measurement date. Revalued quarterly. This table reflects valuations as of December 31, 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 Feb 29, 2012 Net portfolio holdings of Maiden Lane II LLC (1) 7,301 Outstanding principal amount of loan extended by the Federal Reserve Bank of New York (2) 2,867 Accrued interest payable to the Federal Reserve Bank of New York (2) 580 Deferred payment and accrued interest payable to subsidiaries of American International Group, Inc. (3) 1,112 1. Fair value. Fair value reflects an estimate of the price that would be received upon selling an asset if the transaction were to be conducted in an orderly market on the measurement date. Revalued quarterly. This table reflects valuations as of December 31, 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 Feb 29, 2012 Net portfolio holdings of Maiden Lane III LLC (1) 17,611 Outstanding principal amount of loan extended by the Federal Reserve Bank of New York (2) 8,613 Accrued interest payable to the Federal Reserve Bank of New York (2) 712 Outstanding principal amount and accrued interest on loan payable to American International Group, Inc. (3) 5,571 1. Fair value. Fair value reflects an estimate of the price that would be received upon selling an asset if the transaction were to be conducted in an orderly market on the measurement date. Revalued quarterly. This table reflects valuations as of December 31, 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 Feb 29, 2012 Asset-backed securities holdings (1) 0 Other investments, net 825 Net portfolio holdings of TALF LLC 825 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) 110 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 Feb 29, 2012 Wednesday Wednesday Assets, liabilities, and capital Feb 22, 2012 Mar 2, 2011 Assets Gold certificate account 11,037 0 0 Special drawing rights certificate account 5,200 0 0 Coin 2,383 - 23 + 138 Securities, repurchase agreements, and loans 2,610,792 - 7,283 + 261,972 Securities held outright (1) 2,603,213 - 7,230 + 274,774 U.S. Treasury securities 1,661,601 + 5,020 + 425,343 Bills (2) 18,423 0 0 Notes and bonds, nominal (2) 1,565,224 + 4,938 + 408,180 Notes and bonds, inflation-indexed (2) 68,888 + 128 + 14,531 Inflation compensation (3) 9,066 - 46 + 2,632 Federal agency debt securities (2) 100,817 0 - 42,432 Mortgage-backed securities (4) 840,795 - 12,250 - 108,137 Repurchase agreements (5) 0 0 0 Loans 7,580 - 52 - 12,801 Net portfolio holdings of Maiden Lane LLC (6) 6,439 - 65 - 19,623 Net portfolio holdings of Maiden Lane II LLC (7) 7,301 + 586 - 8,589 Net portfolio holdings of Maiden Lane III LLC (8) 17,611 + 8 - 5,226 Net portfolio holdings of TALF LLC (9) 825 0 + 122 Items in process of collection (65) 154 - 55 - 30 Bank premises 2,388 + 210 + 175 Central bank liquidity swaps (10) 107,763 - 196 + 107,693 Other assets (11) 156,146 - 293 + 42,292 Total assets (65) 2,928,042 - 7,107 + 378,927 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 Feb 29, 2012 Wednesday Wednesday Assets, liabilities, and capital Feb 22, 2012 Mar 2, 2011 Liabilities Federal Reserve notes, net of F.R. Bank holdings 1,049,876 + 1,872 + 92,163 Reverse repurchase agreements (12) 87,553 - 2,271 + 25,092 Deposits (0) 1,714,479 - 6,806 + 260,284 Term deposits held by depository institutions 0 0 - 5,070 Other deposits held by depository institutions 1,607,107 - 15,693 + 308,399 U.S. Treasury, General Account 62,542 + 26,509 + 13,000 U.S. Treasury, Supplementary Financing Account 0 0 - 99,980 Foreign official 127 - 3 - 252 Other (0) 44,702 - 17,620 + 44,185 Deferred availability cash items (65) 1,064 - 578 - 1,148 Other liabilities and accrued dividends (13) 20,550 + 750 + 1,070 Total liabilities (65) 2,873,523 - 7,033 + 377,462 Capital accounts Capital paid in 27,260 - 37 + 733 Surplus 27,260 - 37 + 733 Other capital accounts 0 0 0 Total capital 54,519 - 75 + 1,465 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. Dollar value of foreign currency held under these agreements valued at the exchange rate to be used when the foreign currency is returned to the foreign central bank. This exchange rate equals the market exchange rate used when the foreign currency was acquired from the foreign central bank. 11. 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. 12. Cash value of agreements, which are collateralized by U.S. Treasury securities, federal agency debt securities, and mortgage-backed securities. 13. 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. 9. Statement of Condition of Each Federal Reserve Bank, February 29, 2012 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 2,383 57 119 162 169 421 216 335 35 61 177 237 397 Securities, repurchase agreements, and loans 2,610,792 64,004 1,218,170 89,176 70,318 300,645 193,530 154,593 49,271 40,014 69,255 102,957 258,860 Securities held outright (1) 2,603,213 64,004 1,210,606 89,176 70,318 300,645 193,530 154,593 49,271 40,007 69,247 102,957 258,860 U.S. Treasury securities 1,661,601 40,853 772,716 56,920 44,883 191,898 123,528 98,675 31,449 25,536 44,199 65,716 165,227 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) 1,643,178 40,400 764,148 56,289 44,386 189,770 122,158 97,581 31,100 25,253 43,709 64,988 163,395 Federal agency debt securities (2) 100,817 2,479 46,884 3,454 2,723 11,643 7,495 5,987 1,908 1,549 2,682 3,987 10,025 Mortgage-backed securities (4) 840,795 20,672 391,006 28,802 22,712 97,103 62,507 49,931 15,914 12,922 22,366 33,254 83,607 Repurchase agreements (5) 0 0 0 0 0 0 0 0 0 0 0 0 0 Loans 7,580 0 7,564 0 0 0 0 0 0 7 8 0 0 Net portfolio holdings of Maiden Lane LLC (6) 6,439 0 6,439 0 0 0 0 0 0 0 0 0 0 Net portfolio holdings of Maiden Lane II LLC (7) 7,301 0 7,301 0 0 0 0 0 0 0 0 0 0 Net portfolio holdings of Maiden Lane III LLC (8) 17,611 0 17,611 0 0 0 0 0 0 0 0 0 0 Net portfolio holdings of TALF LLC (9) 825 0 825 0 0 0 0 0 0 0 0 0 0 Items in process of collection 220 5 0 52 43 4 29 14 5 10 5 11 42 Bank premises 2,388 122 473 67 125 232 213 205 133 105 258 244 212 Central bank liquidity swaps (10) 107,763 3,778 34,762 9,347 7,967 22,291 6,162 2,875 881 440 1,072 1,726 16,463 Other assets (11) 156,146 4,132 68,643 6,837 5,434 20,479 11,179 8,408 2,699 2,143 3,730 5,581 16,880 Interdistrict settlement account 0 - 1,006 + 270,195 - 9,135 - 8,527 - 134,385 - 35,575 - 5,364 - 4,830 - 14,014 - 16,759 - 2,533 - 38,066 Total assets 2,928,107 71,678 1,630,223 97,148 76,217 210,971 177,801 162,344 48,663 29,045 58,208 109,233 256,578 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, February 29, 2012 (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 1,226,129 44,180 438,348 47,337 60,093 101,280 143,536 87,936 33,558 22,021 34,161 79,267 134,412 Less: Notes held by F.R. Banks 176,253 4,721 59,381 6,303 8,016 11,428 25,983 11,599 3,972 4,743 3,871 11,386 24,850 Federal Reserve notes, net 1,049,876 39,459 378,968 41,035 52,076 89,851 117,553 76,337 29,586 17,278 30,289 67,881 109,562 Reverse repurchase agreements (12) 87,553 2,153 40,716 2,999 2,365 10,112 6,509 5,199 1,657 1,346 2,329 3,463 8,706 Deposits 1,714,479 27,343 1,177,139 48,021 17,335 98,865 49,872 78,826 16,745 9,794 24,787 36,610 129,143 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 1,607,107 27,340 1,069,978 48,001 17,332 98,749 49,870 78,796 16,744 9,768 24,786 36,608 129,136 U.S. Treasury, General Account 62,542 0 62,542 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 127 1 100 3 3 8 2 1 0 0 0 1 6 Other 44,702 2 44,519 16 0 108 0 29 0 25 1 1 1 Deferred availability cash items 1,129 37 0 101 140 21 237 26 27 230 32 65 213 Interest on Federal Reserve notes due to U.S. Treasury (13) 2,172 -157 1,349 64 43 225 151 114 36 29 53 74 191 Other liabilities and accrued dividends (14) 18,379 198 14,711 262 248 762 475 405 173 149 181 277 537 Total liabilities 2,873,588 69,033 1,612,883 92,481 72,207 199,835 174,797 160,908 48,223 28,826 57,671 108,370 248,352 Capital Capital paid in 27,260 1,322 8,670 2,333 2,005 5,568 1,502 718 220 109 268 432 4,113 Surplus 27,260 1,322 8,670 2,333 2,005 5,568 1,502 718 220 109 268 432 4,113 Other capital 0 0 0 0 0 0 0 0 0 0 0 0 0 Total liabilities and capital 2,928,107 71,678 1,630,223 97,148 76,217 210,971 177,801 162,344 48,663 29,045 58,208 109,233 256,578 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, February 29, 2012 (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. Dollar value of foreign currency held under these agreements valued at the exchange rate to be used when the foreign currency is returned to the foreign central bank. This exchange rate equals the market exchange rate used when the foreign currency was acquired from the foreign central bank. 11. 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. 12. Cash value of agreements, which are collateralized by U.S. Treasury securities, federal agency debt securities, and mortgage-backed securities. 13. 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. 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 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 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 Feb 29, 2012 Federal Reserve notes outstanding 1,226,129 Less: Notes held by F.R. Banks not subject to collateralization 176,253 Federal Reserve notes to be collateralized 1,049,876 Collateral held against Federal Reserve notes 1,049,876 Gold certificate account 11,037 Special drawing rights certificate account 5,200 U.S. Treasury, agency debt, and mortgage-backed securities pledged (1,2) 1,033,639 Other assets pledged 0 Memo: Total U.S. Treasury, agency debt, and mortgage-backed securities (1,2) 2,603,213 Less: Face value of securities under reverse repurchase agreements 76,378 U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 2,526,835 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.