FRB: H.4.1 Release-- Factors Affecting Reserve Balances -- Thursday, December 19, 2013

FEDERAL RESERVE statistical release

For Release at

4:30 P.M. EDT

June 12, 2014

Table 10 line items "Less: Face value of securities under reverse repurchase agreements" and "U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged" have been corrected to include securities pledged as collateral for tri-party reverse repurchase agreements.

The revised data are reported at the following link: http://www.federalreserve.gov/releases/h41/2014update.htm.

Historical data incorporating this correction can be accessed through the Data Download Program (DDP) at http://www.federalreserve.gov/datadownload/Choose.aspx?rel=H41.

FEDERAL RESERVE statistical release

H.4.1

Factors Affecting Reserve Balances of Depository Institutions and Condition Statement of Federal Reserve Banks	December 19, 2013

1. Factors Affecting Reserve Balances of Depository Institutions

Millions of dollars

Reserve Bank credit, related items, and reserve balances of depository institutions at Federal Reserve Banks	Averages of daily figures			Wednesday Dec 18, 2013
	Week ended Dec 18, 2013	Change from week ended
	Week ended Dec 18, 2013	Dec 11, 2013	Dec 19, 2012
Reserve Bank credit	3,958,486	+ 53,017	+1,085,624	3,965,092
Securities held outright¹	3,732,882	+ 50,618	+1,063,936	3,739,919
U.S. Treasury securities	2,192,260	+ 14,242	+ 532,561	2,197,292
Bills²	0	0	0	0
Notes and bonds, nominal²	2,087,219	+ 13,067	+ 513,208	2,092,274
Notes and bonds, inflation-indexed²	91,379	+ 1,200	+ 16,639	91,379
Inflation compensation³	13,662	- 24	+ 2,714	13,639
Federal agency debt securities²	57,221	- 987	- 22,062	57,221
Mortgage-backed securities⁴	1,483,401	+ 37,362	+ 553,437	1,485,407
Unamortized premiums on securities held outright⁵	208,868	+ 981	+ 39,590	208,882
Unamortized discounts on securities held outright⁵	-11,404	- 669	- 9,875	-11,711
Repurchase agreements⁶	0	0	0	0
Loans	168	- 1	- 671	181
Primary credit	6	- 7	- 6	15
Secondary credit	0	0	0	0
Seasonal credit	64	+ 6	+ 41	67
Term Asset-Backed Securities Loan Facility⁷	98	0	- 705	98
Other credit extensions	0	0	0	0
Net portfolio holdings of Maiden Lane LLC⁸	1,520	0	+ 87	1,519
Net portfolio holdings of Maiden Lane II LLC⁹	63	0	+ 2	63
Net portfolio holdings of Maiden Lane III LLC¹⁰	22	0	0	22
Net portfolio holdings of TALF LLC¹¹	109	0	- 747	109
Float	-620	+ 41	+ 144	-694
Central bank liquidity swaps¹²	273	+ 1	- 11,276	273
Other Federal Reserve assets¹³	26,605	+ 2,046	+ 4,434	26,530
Foreign currency denominated assets¹⁴	23,957	- 9	- 1,362	23,976
Gold stock	11,041	0	0	11,041
Special drawing rights certificate account	5,200	0	0	5,200
Treasury currency outstanding¹⁵	45,502	+ 14	+ 756	45,502

Total factors supplying reserve funds	4,044,187	+ 53,023	+1,085,019	4,050,811

Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table.

1. Factors Affecting Reserve Balances of Depository Institutions (continued)

Millions of dollars

Reserve Bank credit, related items, and reserve balances of depository institutions at Federal Reserve Banks	Averages of daily figures			Wednesday Dec 18, 2013
	Week ended Dec 18, 2013	Change from week ended
	Week ended Dec 18, 2013	Dec 11, 2013	Dec 19, 2012
Currency in circulation¹⁵	1,229,724	+ 2,173	+ 73,016	1,232,490
Reverse repurchase agreements¹⁶	115,863	+ 2,968	+ 11,681	111,966
Foreign official and international accounts	100,151	- 247	- 4,031	100,861
Others	15,712	+ 3,215	+ 15,712	11,105
Treasury cash holdings	227	- 2	+ 83	229
Deposits with F.R. Banks, other than reserve balances	112,723	+ 50,551	- 1,178	177,148
Term deposits held by depository institutions	13,532	0	+ 13,532	13,532
U.S. Treasury, General Account	70,572	+ 41,580	+ 15,586	116,998
Foreign official	7,983	- 144	+ 1,976	7,973
Other	20,636	+ 9,115	- 32,272	38,646
Other liabilities and capital¹⁷	64,349	+ 57	- 2,664	63,046

Total factors, other than reserve balances, absorbing reserve funds	1,522,886	+ 55,746	+ 80,938	1,584,879

Reserve balances with Federal Reserve Banks	2,521,300	- 2,724	+1,004,080	2,465,932

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. The current face value shown is the remaining principal balance of the securities.
5.	Reflects the premium or discount, which is the difference between the purchase price and the face value of the securities that has not been amortized. For U.S. Treasury and Federal agency debt securities, amortization is on a straight-line basis. For mortgage-backed securities, amortization is on an effective-interest basis.
6.	Cash value of agreements.
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 accrued interest, which represents the daily accumulation of interest earned, and other accounts receivable. Also, includes Reserve Bank premises and equipment net of allowances for depreciation.
14.	Revalued daily at current foreign currency exchange rates.
15.	Estimated.
16.	Cash value of agreements, which are collateralized by U.S. Treasury securities, federal agency debt securities, and mortgage-backed securities.
17.	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

Memorandum item	Averages of daily figures			Wednesday Dec 18, 2013
	Week ended Dec 18, 2013	Change from week ended
	Week ended Dec 18, 2013	Dec 11, 2013	Dec 19, 2012
Securities held in custody for foreign official and international accounts	3,379,756	+ 11,741	+ 149,477	3,379,660
Marketable U.S. Treasury securities¹	3,021,023	+ 14,143	+ 142,662	3,021,465
Federal agency debt and mortgage-backed securities²	315,447	- 2,608	- 562	314,881
Other securities³	43,285	+ 205	+ 7,376	43,313
Securities lent to dealers	11,246	- 334	+ 5,365	11,119
Overnight facility⁴	11,246	- 334	+ 5,365	11,119
U.S. Treasury securities	10,251	- 397	+ 5,143	10,035
Federal agency debt securities	995	+ 63	+ 222	1,084

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

1.	Includes securities and U.S. Treasury STRIPS at face value, and inflation compensation on TIPS. Does not include securities pledged as collateral to foreign official and international account holders against reverse repurchase agreements with the Federal Reserve presented in tables 1, 8, and 9.
2.	Face value of federal agency securities and current face value of mortgage-backed securities, which is the remaining principal balance of the securities.
3.	Includes non-marketable U.S. Treasury securities, supranationals, corporate bonds, asset-backed securities, and commercial paper at face value.
4.	Face value. Fully collateralized by U.S. Treasury securities.

2. Maturity Distribution of Securities, Loans, and Selected Other Assets and Liabilities, December 18, 2013

Millions of dollars

Remaining Maturity	Within 15 days	16 days to 90 days	91 days to 1 year	Over 1 year to 5 years	Over 5 year to 10 years	Over 10 years	All
Loans¹	82	0	65	34	0	...	181
U.S. Treasury securities²
Holdings	1	297	177	748,008	871,606	577,203	2,197,292
Weekly changes	+ 1	- 1	0	- 7	+ 6,899	+ 4,681	+ 11,573
Federal agency debt securities³
Holdings	0	9,878	8,666	36,268	62	2,347	57,221
Weekly changes	0	+ 4,068	- 4,068	0	0	0	0
Mortgage-backed securities⁴
Holdings	0	0	0	5	2,581	1,482,820	1,485,407
Weekly changes	0	0	0	+ 1	- 12	+ 2,451	+ 2,441
Asset-backed securities held by TALF LLC⁵	0	0	0	0	0	0	0
Repurchase agreements⁶	0	0	...	...	...	...	0
Central bank liquidity swaps⁷	1	272	0	0	0	0	273

Reverse repurchase agreements⁶	111,966	0	...	...	...	...	111,966
Term deposits	13,532	0	0	...	...	...	13,532

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. The current face value shown is the remaining principal balance of the securities.
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

Account name	Wednesday
Account name	Dec 18, 2013
Mortgage-backed securities held outright¹	1,485,407

Commitments to buy mortgage-backed securities²	55,928
Commitments to sell mortgage-backed securities²	0

Cash and cash equivalents³	59

1.	Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. The current face value shown is the remaining principal balance of the securities.
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

Account name	Wednesday
Account name	Dec 18, 2013
Net portfolio holdings of Maiden Lane LLC¹	1,519

Outstanding principal amount of loan extended by the Federal Reserve Bank of New York²	0
Accrued interest payable to the Federal Reserve Bank of New York²	0
Outstanding principal amount and accrued interest on loan payable to JPMorgan Chase & Co.³	0

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, 2013. 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

Account name	Wednesday
Account name	Dec 18, 2013
Net portfolio holdings of Maiden Lane II LLC¹	63

Outstanding principal amount of loan extended by the Federal Reserve Bank of New York²	0
Accrued interest payable to the Federal Reserve Bank of New York²	0
Deferred payment and accrued interest payable to subsidiaries of American International Group, Inc.³	0

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, 2013. 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

Account name	Wednesday
Account name	Dec 18, 2013
Net portfolio holdings of Maiden Lane III LLC¹	22

Outstanding principal amount of loan extended by the Federal Reserve Bank of New York²	0
Accrued interest payable to the Federal Reserve Bank of New York²	0
Outstanding principal amount and accrued interest on loan payable to American International Group, Inc.³	0

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, 2013. 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

Account name	Wednesday
Account name	Dec 18, 2013
Asset-backed securities holdings¹	0
Other investments, net	109
Net portfolio holdings of TALF LLC	109

Outstanding principal amount of loan extended by the Federal Reserve Bank of New York²	0
Accrued interest payable to the Federal Reserve Bank of New York²	0
Funding provided by U.S. Treasury to TALF LLC, including accrued interest payable³	0

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) extended loans with a term of up to five years to holders of eligible asset-backed securities. The Federal Reserve closed the TALF for new loan extensions in 2010. 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.

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. Prior to January 15, 2013, the U.S. Treasury's Troubled Asset Relief Program (TARP) committed backup funding to TALF LLC, providing credit protection to the FRBNY. However, the accumulated fees and income collected through the TALF and held by TALF LLC now exceed the remaining amount of TALF loans outstanding. Accordingly, the TARP credit protection commitment has been terminated, and TALF LLC has begun to distribute excess proceeds to the Treasury and the FRBNY. 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

Assets, liabilities, and capital	Eliminations from consolidation	Wednesday Dec 18, 2013	Change since
			Wednesday	Wednesday
			Dec 11, 2013	Dec 19, 2012
Assets
Gold certificate account		11,037	0	0
Special drawing rights certificate account		5,200	0	0
Coin		1,964	+ 17	- 162
Securities, unamortized premiums and discounts, repurchase agreements, and loans		3,937,271	+ 13,287	+1,096,934
Securities held outright¹		3,739,919	+ 14,012	+1,068,394
U.S. Treasury securities		2,197,292	+ 11,573	+ 538,441
Bills²		0	0	0
Notes and bonds, nominal²		2,092,274	+ 11,634	+ 519,108
Notes and bonds, inflation-indexed²		91,379	0	+ 16,639
Inflation compensation³		13,639	- 61	+ 2,694
Federal agency debt securities²		57,221	0	- 22,062
Mortgage-backed securities⁴		1,485,407	+ 2,441	+ 552,016
Unamortized premiums on securities held outright⁵		208,882	- 133	+ 39,389
Unamortized discounts on securities held outright⁵		-11,711	- 600	- 10,166
Repurchase agreements⁶		0	0	0
Loans		181	+ 8	- 683
Net portfolio holdings of Maiden Lane LLC⁷		1,519	- 1	+ 88
Net portfolio holdings of Maiden Lane II LLC⁸		63	0	+ 2
Net portfolio holdings of Maiden Lane III LLC⁹		22	0	0
Net portfolio holdings of TALF LLC¹⁰		109	0	- 747
Items in process of collection	(0)	99	+ 5	- 34
Bank premises		2,287	+ 3	- 50
Central bank liquidity swaps¹¹		273	+ 1	- 11,276
Foreign currency denominated assets¹²		23,976	- 103	- 1,372
Other assets¹³		24,243	+ 899	+ 4,448

Total assets	(0)	4,008,062	+ 14,107	+1,087,831

Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table.

8. Consolidated Statement of Condition of All Federal Reserve Banks (continued)

Millions of dollars

Assets, liabilities, and capital	Eliminations from consolidation	Wednesday Dec 18, 2013	Change since
			Wednesday	Wednesday
			Dec 11, 2013	Dec 19, 2012
Liabilities
Federal Reserve notes, net of F.R. Bank holdings		1,189,176	+ 2,736	+ 71,713
Reverse repurchase agreements¹⁴		111,966	- 23,775	+ 11,002
Deposits	(0)	2,643,081	+ 39,576	+1,008,396
Term deposits held by depository institutions		13,532	0	+ 13,532
Other deposits held by depository institutions		2,465,932	- 74,790	+ 983,234
U.S. Treasury, General Account		116,998	+ 95,508	+ 41,981
Foreign official		7,973	+ 2	+ 1,973
Other	(0)	38,646	+ 18,857	- 32,325
Deferred availability cash items	(0)	793	+ 72	- 197
Other liabilities and accrued dividends¹⁵		8,061	- 4,506	- 3,338

Total liabilities	(0)	3,953,077	+ 14,103	+1,087,575

Capital accounts
Capital paid in		27,492	+ 2	+ 128
Surplus		27,492	+ 2	+ 128
Other capital accounts		0	0	0

Total capital		54,984	+ 3	+ 256

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. The current face value shown is the remaining principal balance of the securities.
5.	Reflects the premium or discount, which is the difference between the purchase price and the face value of the securities that has not been amortized. For U.S. Treasury and Federal agency debt securities, amortization is on a straight-line basis. For mortgage-backed securities, amortization is on an effective-interest basis.
6.	Cash value of agreements, which are collateralized by U.S. Treasury and federal agency securities.
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.	Revalued daily at current foreign currency exchange rates.
13.	Includes accrued interest, which represents the daily accumulation of interest earned, and other accounts receivable.
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.

9. Statement of Condition of Each Federal Reserve Bank, December 18, 2013

Millions of dollars

Assets, liabilities, and capital	Total	Boston	New York	Philadelphia	Cleveland	Richmond	Atlanta	Chicago	St. Louis	Minneapolis	Kansas	Dallas	San
Assets, liabilities, and capital	Total	Boston	New York	Philadelphia	Cleveland	Richmond	Atlanta	Chicago	St. Louis	Minneapolis	City	Dallas	Francisco
Assets
Gold certificate account	11,037	391	3,925	397	512	856	1,421	792	310	190	309	728	1,206
Special drawing rights certificate acct.	5,200	196	1,818	210	237	412	654	424	150	90	153	282	574
Coin	1,964	36	81	125	130	337	238	283	20	48	152	181	333
Securities, unamortized premiums and discounts, repurchase agreements, and loans	3,937,271	102,951	2,183,376	114,074	100,549	244,812	261,537	212,774	63,360	37,380	74,501	152,887	389,070
Securities held outright¹	3,739,919	97,795	2,073,938	108,361	95,514	232,551	248,438	202,092	60,176	35,489	70,755	145,230	369,579
U.S. Treasury securities	2,197,292	57,457	1,218,488	63,665	56,117	136,629	145,963	118,734	35,355	20,851	41,570	85,326	217,136
Bills²	0	0	0	0	0	0	0	0	0	0	0	0	0
Notes and bonds³	2,197,292	57,457	1,218,488	63,665	56,117	136,629	145,963	118,734	35,355	20,851	41,570	85,326	217,136
Federal agency debt securities²	57,221	1,496	31,731	1,658	1,461	3,558	3,801	3,092	921	543	1,083	2,222	5,655
Mortgage-backed securities⁴	1,485,407	38,842	823,719	43,039	37,936	92,364	98,674	80,266	23,901	14,095	28,102	57,682	146,788
Unamortized premiums on securities held outright⁵	208,882	5,462	115,834	6,052	5,335	12,988	13,876	11,287	3,361	1,982	3,952	8,111	20,642
Unamortized discounts on securities held outright⁵	-11,711	-306	-6,494	-339	-299	-728	-778	-633	-188	-111	-222	-455	-1,157
Repurchase agreements⁶	0	0	0	0	0	0	0	0	0	0	0	0	0
Loans	181	0	98	0	0	0	1	27	11	20	16	1	7
Net portfolio holdings of Maiden
Lane LLC⁷	1,519	0	1,519	0	0	0	0	0	0	0	0	0	0
Net portfolio holdings of Maiden
Lane II LLC⁸	63	0	63	0	0	0	0	0	0	0	0	0	0
Net portfolio holdings of Maiden
Lane III LLC⁹	22	0	22	0	0	0	0	0	0	0	0	0	0
Net portfolio holdings of TALF LLC¹⁰	109	0	109	0	0	0	0	0	0	0	0	0	0
Items in process of collection	99	0	0	0	0	0	98	0	0	0	0	0	0
Bank premises	2,287	122	432	72	111	228	211	203	127	100	247	231	204
Central bank liquidity swaps¹¹	273	13	87	21	21	57	16	8	2	1	3	4	39
Foreign currency denominated assets¹²	23,976	1,178	7,667	1,854	1,870	5,034	1,366	684	200	100	243	380	3,400
Other assets¹³	24,243	670	12,999	712	626	1,676	1,619	1,306	441	292	481	1,049	2,371
Interdistrict settlement account	0	- 28,949	+ 289,811	- 23,338	- 15,805	- 38,588	- 57,967	- 63,131	- 21,075	- 16,378	- 29,060	- 38,517	+ 42,995

Total assets	4,008,062	76,608	2,501,909	94,128	88,252	214,824	209,191	153,342	43,535	21,823	47,028	117,227	440,193

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, December 18, 2013 (continued)

Millions of dollars

Assets, liabilities, and capital	Total	Boston	New York	Philadelphia	Cleveland	Richmond	Atlanta	Chicago	St. Louis	Minneapolis	Kansas	Dallas	San
Assets, liabilities, and capital	Total	Boston	New York	Philadelphia	Cleveland	Richmond	Atlanta	Chicago	St. Louis	Minneapolis	City	Dallas	Francisco
Liabilities
Federal Reserve notes outstanding	1,410,913	45,945	516,788	42,792	59,166	106,317	171,672	88,518	35,085	21,984	37,245	120,657	164,745
Less: Notes held by F.R. Banks	221,737	10,666	45,203	6,710	6,269	9,911	19,753	15,725	3,641	9,576	10,800	53,793	29,690
Federal Reserve notes, net	1,189,176	35,279	471,584	36,082	52,897	96,406	151,919	72,794	31,444	12,408	26,445	66,864	135,055
Reverse repurchase agreements¹⁴	111,966	2,928	62,090	3,244	2,859	6,962	7,438	6,050	1,802	1,062	2,118	4,348	11,064
Deposits	2,643,081	35,662	1,946,342	50,371	27,838	99,250	45,543	72,570	9,649	7,799	17,726	44,808	285,522
Term deposits held by depository institutions	13,532	5	10,290	0	0	25	500	1,105	10	102	90	105	1,300
Other deposits held by depository institutions	2,465,932	35,650	1,772,680	50,347	27,835	99,069	45,031	71,441	9,639	7,697	17,635	44,700	284,209
U.S. Treasury, General Account	116,998	0	116,998	0	0	0	0	0	0	0	0	0	0
Foreign official	7,973	2	7,946	3	3	8	2	1	0	0	0	1	6
Other	38,646	5	38,428	21	0	148	10	23	0	0	1	2	8
Deferred availability cash items	793	0	0	0	0	0	622	0	0	171	0	0	0
Interest on Federal Reserve notes due to U.S. Treasury¹⁵	1,593	38	927	41	29	77	113	86	28	15	29	68	142
Other liabilities and accrued dividends¹⁶	6,468	199	3,297	253	253	657	393	323	150	136	130	228	448

Total liabilities	3,953,077	74,106	2,484,240	89,992	83,877	203,352	206,028	151,823	43,073	21,591	46,449	116,316	432,232

Capital
Capital paid in	27,492	1,251	8,835	2,068	2,188	5,736	1,582	760	231	116	290	456	3,981
Surplus	27,492	1,251	8,835	2,068	2,188	5,736	1,582	760	231	116	290	456	3,981
Other capital	0	0	0	0	0	0	0	0	0	0	0	0	0

Total liabilities and capital	4,008,062	76,608	2,501,909	94,128	88,252	214,824	209,191	153,342	43,535	21,823	47,028	117,227	440,193

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, December 18, 2013 (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. The current face value shown is the remaining principal balance of the securities.
5.	Reflects the premium or discount, which is the difference between the purchase price and the face value of the securities that has not been amortized. For U.S. Treasury and Federal agency debt securities, amortization is on a straight-line basis. For mortgage-backed securities, amortization is on an effective-interest basis.
6.	Cash value of agreements, which are collateralized by U.S. Treasury and federal agency securities.
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 7 and the note on consolidation below.
11.	Dollar value of foreign currency held under these agreements valued at the exchange rate to be used when the foreign currency is returned to the foreign central bank. This exchange rate equals the market exchange rate used when the foreign currency was acquired from the foreign central bank.
12.	Revalued daily at current foreign currency exchange rates.
13.	Includes accrued interest, which represents the daily accumulation of interest earned, and other accounts receivable.
14.	Cash value of agreements, which are collateralized by U.S. Treasury securities, federal agency debt securities, and mortgage-backed securities.
15.	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.
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 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

Federal Reserve notes and collateral	Wednesday
Federal Reserve notes and collateral	Dec 18, 2013
Federal Reserve notes outstanding	1,410,913
Less: Notes held by F.R. Banks not subject to collateralization	221,737
Federal Reserve notes to be collateralized	1,189,176
Collateral held against Federal Reserve notes	1,189,176
Gold certificate account	11,037
Special drawing rights certificate account	5,200
U.S. Treasury, agency debt, and mortgage-backed securities pledged^1,2	1,172,940
Other assets pledged	0
Memo:
Total U.S. Treasury, agency debt, and mortgage-backed securities^1,2	3,739,919
Less: Face value of securities under reverse repurchase agreements	103,820
U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged	3,636,100

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.

Statistical releases