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Release Date: May 14, 2015
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FEDERAL RESERVE statistical release
H.4.1
Factors Affecting Reserve Balances of Depository Institutions and
Condition Statement of Federal Reserve Banks May 14, 2015
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 May 13, 2015
Federal Reserve Banks May 13, 2015 May 6, 2015 May 14, 2014
Reserve Bank credit 4,439,234 + 6,273 + 165,105 4,462,275
Securities held outright (1) 4,218,601 + 3,721 + 174,598 4,240,069
U.S. Treasury securities 2,460,278 + 152 + 102,933 2,460,334
Bills (2) 0 0 0 0
Notes and bonds, nominal (2) 2,346,643 0 + 100,087 2,346,643
Notes and bonds, inflation-indexed (2) 98,534 0 + 2,563 98,534
Inflation compensation (3) 15,101 + 152 + 282 15,157
Federal agency debt securities (2) 35,895 0 - 9,070 35,895
Mortgage-backed securities (4) 1,722,428 + 3,568 + 80,735 1,743,840
Unamortized premiums on securities held outright (5) 200,421 - 207 - 9,260 201,011
Unamortized discounts on securities held outright (5) -17,762 + 30 + 24 -17,750
Repurchase agreements (6) 0 0 0 0
Loans 72 + 4 - 58 85
Primary credit 4 - 10 - 2 6
Secondary credit 0 0 0 0
Seasonal credit 68 + 13 + 25 79
Term Asset-Backed Securities Loan Facility (7) 0 0 - 81 0
Other credit extensions 0 0 0 0
Net portfolio holdings of Maiden Lane LLC (8) 1,688 0 + 33 1,697
Net portfolio holdings of Maiden Lane II LLC (9) 0 0 - 63 0
Net portfolio holdings of Maiden Lane III LLC (9) 0 0 - 22 0
Net portfolio holdings of TALF LLC (10) 0 0 - 91 0
Float -475 + 6 + 122 -537
Central bank liquidity swaps (11) 0 0 - 300 0
Other Federal Reserve assets (12) 36,689 + 2,719 + 122 37,700
Foreign currency denominated assets (13) 20,084 + 33 - 4,043 20,257
Gold stock 11,041 0 0 11,041
Special drawing rights certificate account 5,200 0 0 5,200
Treasury currency outstanding (14) 46,755 + 14 + 908 46,755
Total factors supplying reserve funds 4,522,315 + 6,320 + 161,971 4,545,528
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 May 13, 2015
Federal Reserve Banks May 13, 2015 May 6, 2015 May 14, 2014
Currency in circulation (14) 1,363,656 + 1,744 + 88,937 1,364,762
Reverse repurchase agreements (15) 239,544 - 11,017 - 58,006 243,769
Foreign official and international accounts 149,574 - 6,802 + 41,793 151,640
Others 89,971 - 4,214 - 99,798 92,129
Treasury cash holdings 223 - 6 + 6 198
Deposits with F.R. Banks, other than reserve balances 232,630 - 9,162 + 140,712 224,548
Term deposits held by depository institutions 0 0 0 0
U.S. Treasury, General Account 216,211 - 11,295 + 144,961 205,392
Foreign official 5,236 + 6 - 2,543 5,231
Other (16) 11,183 + 2,127 - 1,706 13,925
Other liabilities and capital (17) 66,945 + 845 + 1,842 68,405
Total factors, other than reserve balances,
absorbing reserve funds 1,902,998 - 17,595 + 173,491 1,901,683
Reserve balances with Federal Reserve Banks 2,619,317 + 23,915 - 11,519 2,643,845
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 6.
9. 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. Refer to the
note on consolidation accompanying table 6.
10. Refer to the note on consolidation accompanying table 6.
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 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.
13. Revalued daily at current foreign currency exchange rates.
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 deposits held at the Reserve Banks by international and multilateral organizations,
government-sponsored enterprises, and designated financial market utilities.
17. Includes the liability for interest on Federal Reserve notes due to U.S. Treasury.
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
Week ended Change from week ended May 13, 2015
May 13, 2015 May 6, 2015 May 14, 2014
Securities held in custody for foreign official and
international accounts 3,316,597 + 3,555 + 32,347 3,321,250
Marketable U.S. Treasury securities (1) 2,986,288 + 2,597 + 36,688 2,986,307
Federal agency debt and mortgage-backed securities (2) 285,223 + 618 - 7,335 289,485
Other securities (3) 45,086 + 339 + 2,993 45,458
Securities lent to dealers 11,255 - 51 - 340 12,357
Overnight facility (4) 11,255 - 51 - 340 12,357
U.S. Treasury securities 10,975 - 29 + 383 12,084
Federal agency debt securities 280 - 21 - 723 273
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, 5, and 6.
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, May 13, 2015
Millions of dollars
Remaining Maturity Within 15 16 days to 91 days to Over 1 year Over 5 year Over 10 All
days 90 days 1 year to 5 years to 10 years years
Loans 14 71 0 0 0 ... 85
U.S. Treasury securities (1)
Holdings 1,448 2 91,583 1,090,726 633,003 643,572 2,460,334
Weekly changes 0 0 0 + 22 + 29 + 100 + 152
Federal agency debt securities (2)
Holdings 0 802 7,997 24,749 0 2,347 35,895
Weekly changes 0 0 0 0 0 0 0
Mortgage-backed securities (3)
Holdings 0 0 0 25 9,514 1,734,300 1,743,840
Weekly changes 0 0 0 0 0 + 24,980 + 24,980
Repurchase agreements (4) 0 0 ... ... ... ... 0
Central bank liquidity swaps (5) 0 0 0 0 0 0 0
Reverse repurchase agreements (4) 243,769 0 ... ... ... ... 243,769
Term deposits 0 0 0 ... ... ... 0
Note: Components may not sum to totals because of rounding.
...Not applicable.
1. 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.
2. Face value.
3. Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. The current face value shown is the
remaining principal balance of the securities.
4. Cash value of agreements.
5. 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
May 13, 2015
Mortgage-backed securities held outright (1) 1,743,840
Commitments to buy mortgage-backed securities (2) 35,991
Commitments to sell mortgage-backed securities (2) 1,600
Cash and cash equivalents (3) 5
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 5
and table 6.
4. Information on Principal Accounts of Maiden Lane LLC
Millions of dollars
Account name Wednesday
May 13, 2015
Net portfolio holdings of Maiden Lane LLC (1) 1,697
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
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 March 31, 2015. 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 6.
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 5 and table 6.
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. The remaining outstanding balances of the senior
loan from FRBNY to Maiden Lane LLC, and the subordinated loan from JPMorgan Chase & Co. to Maiden Lane LLC were
repaid in full, with interest.
5. Consolidated Statement of Condition of All Federal Reserve Banks
Millions of dollars
Assets, liabilities, and capital Eliminations Wednesday Change since
from May 13, 2015 Wednesday Wednesday
consolidation May 6, 2015 May 14, 2014
Assets
Gold certificate account 11,037 0 0
Special drawing rights certificate account 5,200 0 0
Coin 1,820 + 9 - 96
Securities, unamortized premiums and discounts,
repurchase agreements, and loans 4,423,414 + 25,705 + 168,818
Securities held outright (1) 4,240,069 + 25,133 + 177,746
U.S. Treasury securities 2,460,334 + 152 + 99,006
Bills (2) 0 0 0
Notes and bonds, nominal (2) 2,346,643 0 + 96,271
Notes and bonds, inflation-indexed (2) 98,534 0 + 2,466
Inflation compensation (3) 15,157 + 152 + 269
Federal agency debt securities (2) 35,895 0 - 9,070
Mortgage-backed securities (4) 1,743,840 + 24,980 + 87,810
Unamortized premiums on securities held outright
(5) 201,011 + 519 - 8,998
Unamortized discounts on securities held outright
(5) -17,750 + 30 + 114
Repurchase agreements (6) 0 0 0
Loans 85 + 24 - 44
Net portfolio holdings of Maiden Lane LLC (7) 1,697 + 11 + 41
Net portfolio holdings of Maiden Lane II LLC (8) 0 0 - 63
Net portfolio holdings of Maiden Lane III LLC (8) 0 0 - 22
Net portfolio holdings of TALF LLC (9) 0 0 - 91
Items in process of collection (0) 63 - 1 - 18
Bank premises 2,239 0 - 28
Central bank liquidity swaps (10) 0 0 - 300
Foreign currency denominated assets (11) 20,257 + 52 - 3,830
Other assets (12) 35,461 + 2,709 + 129
Total assets (0) 4,501,188 + 28,485 + 164,539
Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table.
5. Consolidated Statement of Condition of All Federal Reserve Banks (continued)
Millions of dollars
Assets, liabilities, and capital Eliminations Wednesday Change since
from May 13, 2015 Wednesday Wednesday
consolidation May 6, 2015 May 14, 2014
Liabilities
Federal Reserve notes, net of F.R. Bank holdings 1,320,021 + 393 + 87,964
Reverse repurchase agreements (13) 243,769 + 8,836 - 49,903
Deposits (0) 2,868,393 + 16,015 + 121,745
Term deposits held by depository institutions 0 0 0
Other deposits held by depository institutions 2,643,845 + 33,789 - 3,788
U.S. Treasury, General Account 205,392 - 23,739 + 142,438
Foreign official 5,231 + 1 - 2,546
Other (14) (0) 13,925 + 5,964 - 14,359
Deferred availability cash items (0) 600 - 31 - 147
Other liabilities and accrued dividends (15) 10,328 + 2,929 + 3,108
Total liabilities (0) 4,443,111 + 28,142 + 162,768
Capital accounts
Capital paid in 29,039 + 172 + 886
Surplus 29,039 + 172 + 886
Other capital accounts 0 0 0
Total capital 58,077 + 343 + 1,772
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 6.
8. 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. Refer to the
note on consolidation accompanying table 6.
9. Refer to the note on consolidation accompanying table 6.
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. Revalued daily at current foreign currency exchange rates.
12. Includes accrued interest, which represents the daily accumulation of interest earned, and other
accounts receivable.
13. Cash value of agreements, which are collateralized by U.S. Treasury securities, federal agency debt
securities, and mortgage-backed securities.
14. Includes deposits held at the Reserve Banks by international and multilateral organizations,
government-sponsored enterprises, and designated financial market utilities.
15. Includes the liability for interest on Federal Reserve notes due to U.S. Treasury.
6. Statement of Condition of Each Federal Reserve Bank, May 13, 2015
Millions of dollars
Assets, liabilities, and capital Total Boston New York Philadelphia Cleveland Richmond Atlanta Chicago St. Louis Minneapolis Kansas Dallas San
City Francisco
Assets
Gold certificate account 11,037 347 3,709 340 505 783 1,600 734 299 171 288 891 1,370
Special drawing rights certificate acct. 5,200 196 1,818 210 237 412 654 424 150 90 153 282 574
Coin 1,820 33 66 126 125 294 190 272 23 46 148 182 315
Securities, unamortized premiums and
discounts, repurchase agreements,
and loans 4,423,414 112,135 2,655,378 110,016 106,347 240,247 249,096 164,364 46,129 26,942 57,469 142,492 512,800
Securities held outright (1) 4,240,069 107,484 2,545,364 105,458 101,941 230,293 238,767 157,537 44,218 25,786 55,081 136,586 491,553
U.S. Treasury securities 2,460,334 62,368 1,476,968 61,193 59,152 133,630 138,547 91,412 25,658 14,963 31,961 79,255 285,228
Bills (2) 0 0 0 0 0 0 0 0 0 0 0 0 0
Notes and bonds (3) 2,460,334 62,368 1,476,968 61,193 59,152 133,630 138,547 91,412 25,658 14,963 31,961 79,255 285,228
Federal agency debt securities (2) 35,895 910 21,548 893 863 1,950 2,021 1,334 374 218 466 1,156 4,161
Mortgage-backed securities (4) 1,743,840 44,205 1,046,848 43,372 41,926 94,714 98,199 64,791 18,186 10,605 22,653 56,175 202,164
Unamortized premiums on securities held
outright (5) 201,011 5,096 120,669 4,999 4,833 10,918 11,319 7,468 2,096 1,222 2,611 6,475 23,303
Unamortized discounts on securities
held outright (5) -17,750 -450 -10,656 -441 -427 -964 -1,000 -659 -185 -108 -231 -572 -2,058
Repurchase agreements (6) 0 0 0 0 0 0 0 0 0 0 0 0 0
Loans 85 6 0 0 0 0 9 18 0 41 8 2 1
Net portfolio holdings of Maiden
Lane LLC (7) 1,697 0 1,697 0 0 0 0 0 0 0 0 0 0
Net portfolio holdings of Maiden
Lane II LLC (8) 0 0 0 0 0 0 0 0 0 0 0 0 0
Net portfolio holdings of Maiden
Lane III LLC (8) 0 0 0 0 0 0 0 0 0 0 0 0 0
Net portfolio holdings of TALF LLC (9) 0 0 0 0 0 0 0 0 0 0 0 0 0
Items in process of collection 63 0 0 0 0 0 62 0 0 1 0 0 0
Bank premises 2,239 124 431 74 109 217 210 202 120 94 240 221 198
Central bank liquidity swaps (10) 0 0 0 0 0 0 0 0 0 0 0 0 0
Foreign currency denominated
assets (11) 20,257 918 6,531 1,132 1,579 4,648 1,152 544 189 85 213 292 2,974
Other assets (12) 35,461 942 20,755 897 867 2,098 2,029 1,334 469 249 502 1,208 4,112
Interdistrict settlement account 0 + 7,145 - 74,076 + 4,965 + 18,272 + 53 - 10,667 + 4,489 + 3,450 + 4,558 + 4,271 + 9,645 + 27,895
Total assets 4,501,188 121,840 2,616,309 117,758 128,040 248,752 244,327 172,363 50,827 32,237 63,284 155,212 550,238
Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table.
6. Statement of Condition of Each Federal Reserve Bank, May 13, 2015 (continued)
Millions of dollars
Assets, liabilities, and capital Total Boston New York Philadelphia Cleveland Richmond Atlanta Chicago St. Louis Minneapolis Kansas Dallas San
City Francisco
Liabilities
Federal Reserve notes outstanding 1,501,326 50,433 480,160 50,678 77,737 104,411 209,101 106,449 44,826 26,740 41,921 120,440 188,430
Less: Notes held by F.R. Banks 181,305 5,438 61,420 5,194 9,532 12,238 23,449 11,512 4,948 2,870 4,918 13,932 25,855
Federal Reserve notes, net 1,320,021 44,995 418,740 45,484 68,205 92,174 185,652 94,937 39,878 23,869 37,003 106,508 162,575
Reverse repurchase agreements (13) 243,769 6,179 146,338 6,063 5,861 13,240 13,727 9,057 2,542 1,483 3,167 7,853 28,260
Deposits 2,868,393 67,765 2,026,724 62,650 49,141 129,327 40,702 66,340 7,660 6,199 22,319 39,646 349,919
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 2,643,845 67,762 1,802,399 62,625 49,138 129,163 40,693 66,337 7,660 6,199 22,317 39,641 349,911
U.S. Treasury, General Account 205,392 0 205,392 0 0 0 0 0 0 0 0 0 0
Foreign official 5,231 2 5,204 2 3 9 2 1 0 0 0 1 6
Other (14) 13,925 2 13,729 22 0 155 7 2 0 0 1 5 2
Deferred availability cash items 600 0 0 0 0 0 337 0 0 263 0 0 0
Interest on Federal Reserve notes due
to U.S. Treasury (15) 2,229 59 1,292 61 57 132 138 92 23 13 30 74 259
Other liabilities and accrued
dividends 8,098 244 4,206 278 296 739 491 360 166 154 161 275 731
Total liabilities 4,443,111 119,242 2,597,300 114,536 123,560 235,612 241,047 170,786 50,270 31,981 62,679 154,355 541,743
Capital
Capital paid in 29,039 1,299 9,505 1,611 2,240 6,570 1,640 788 279 128 303 428 4,247
Surplus 29,039 1,299 9,505 1,611 2,240 6,570 1,640 788 279 128 303 428 4,247
Other capital 0 0 0 0 0 0 0 0 0 0 0 0 0
Total liabilities and capital 4,501,188 121,840 2,616,309 117,758 128,040 248,752 244,327 172,363 50,827 32,237 63,284 155,212 550,238
Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table.
6. Statement of Condition of Each Federal Reserve Bank, May 13, 2015 (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. 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. Refer
to the note on consolidation below.
9. Refer to 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. Revalued daily at current foreign currency exchange rates.
12. Includes accrued interest, which represents the daily accumulation of interest earned, and other accounts receivable.
13. Cash value of agreements, which are collateralized by U.S. Treasury securities, federal agency debt securities, and mortgage-backed securities.
14. Includes deposits held at the Reserve Banks by international and multilateral organizations, government-sponsored enterprises, and designated financial market utilities.
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.
Note on consolidation:
The Federal Reserve Bank of New York (FRBNY) 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 June 14, 2012, the remaining outstanding balance of the senior loan from FRBNY to Maiden Lane LLC
was repaid in full, with interest. On November 15, 2012, the remaining outstanding balance of the subordinated loan from JPMorgan Chase & Co. to Maiden Lane LLC was repaid in full, with
interest. 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. had written credit default swap contracts. On June 14, 2012, the loan from FRBNY to Maiden Lane III was repaid in full, with interest. 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 March 1, 2012, the loan from FRBNY to Maiden Lane II was repaid in full, with interest. 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. On January 15, 2013 the FRBNY's commitment to extend credit to TALF LLC was eliminated.
The FRBNY was the primary beneficiary of TALF LLC, because of the two beneficiaries of the LLC, the FRBNY and the U.S. Treasury, the FRBNY was primarily responsible for directing the
financial activities of TALF LLC. The FRBNY was the primary beneficiary of the other LLCs cited above because it received a majority of any residual returns of the LLCs and absorbed a majority of any
residual losses of the LLCs. Consistent with generally accepted accounting principles, the assets and liabilities of these LLCs were 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 were eliminated, the net
assets of the LLCs appeared as assets on the previous page (and in table 1 and table 5), and the liabilities of the LLCs to entities other than the FRBNY, including those with recourse only to
the portfolio holdings of the LLCs, were included in other liabilities in this table (and table 1 and table 5).
7. Collateral Held against Federal Reserve Notes: Federal Reserve Agents' Accounts
Millions of dollars
Federal Reserve notes and collateral Wednesday
May 13, 2015
Federal Reserve notes outstanding 1,501,326
Less: Notes held by F.R. Banks not subject to collateralization 181,305
Federal Reserve notes to be collateralized 1,320,021
Collateral held against Federal Reserve notes 1,320,021
Gold certificate account 11,037
Special drawing rights certificate account 5,200
U.S. Treasury, agency debt, and mortgage-backed securities pledged (1,2) 1,303,784
Other assets pledged 0
Memo:
Total U.S. Treasury, agency debt, and mortgage-backed securities (1,2) 4,240,069
Less: Face value of securities under reverse repurchase agreements 225,666
U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 4,014,402
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.
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