FEDERAL RESERVE statistical release H.4.1 Factors Affecting Reserve Balances of Depository Institutions and Condition Statement of Federal Reserve Banks February 26, 2009 1. Factors Affecting Reserve Balances of Depository Institutions Millions of dollars Reserve Bank credit, related items, and Averages of daily figures reserve balances of depository institutions at Week ended Change from week ended Wednesday Federal Reserve Banks Feb 25, 2009 Feb 18, 2009 Feb 27, 2008 Feb 25, 2009 Reserve Bank credit 1,900,189 - 7,111 +1,033,788 1,899,386 Securities held outright 579,083 + 8,664 - 134,275 581,726 U.S. Treasury securities (1) 474,684 - 106 - 238,674 474,643 Bills (2) 18,423 0 - 181,937 18,423 Notes and bonds, nominal (2) 412,914 0 - 57,096 412,914 Notes and bonds, inflation-indexed (2) 39,378 0 + 941 39,378 Inflation compensation (3) 3,971 - 106 - 580 3,929 Federal agency debt securities (2) 35,869 + 3,311 + 35,869 38,338 Mortgage-backed securities (4) 68,529 + 5,458 + 68,529 68,745 Repurchase agreements (5) 0 0 - 42,857 0 Term auction credit 447,563 0 + 387,563 447,563 Other loans 139,464 - 3,766 + 139,291 138,899 Primary credit 64,408 - 1,584 + 64,239 65,590 Secondary credit 7 + 3 + 7 0 Seasonal credit 2 - 1 - 3 3 Primary dealer and other broker-dealer credit (6) 25,618 - 383 + 25,618 25,163 Asset-backed Commercial Paper Money Market Mutual Fund Liquidity Facility 11,382 - 2,493 + 11,382 9,980 Credit extended to American International Group, Inc. (7) 38,046 + 691 + 38,046 38,163 Other credit extensions 0 0 0 0 Net portfolio holdings of Commercial Paper Funding Facility LLC (8) 246,233 - 4,125 + 246,233 242,503 Net portfolio holdings of LLCs funded through the Money Market Investor Funding Facility (9) 0 0 0 0 Net portfolio holdings of Maiden Lane LLC (10) 25,924 + 41 + 25,924 25,969 Net portfolio holdings of Maiden Lane II LLC (11) 18,641 + 10 + 18,641 18,647 Net portfolio holdings of Maiden Lane III LLC (12) 27,677 + 38 + 27,677 27,695 Float -2,380 - 477 - 1,275 -2,151 Central bank liquidity swaps (13) 374,590 - 5,097 + 364,590 374,947 Other Federal Reserve assets (14) 43,395 - 2,398 + 2,278 43,588 Gold stock 11,041 0 0 11,041 Special drawing rights certificate account 2,200 0 0 2,200 Treasury currency outstanding (15) 38,786 + 14 + 106 38,786 Total factors supplying reserve funds 1,952,216 - 7,098 +1,033,895 1,951,413 Note: Components may not sum to totals because of rounding. Footnotes appear on the following page. 1. Factors Affecting Reserve Balances of Depository Institutions, continued Millions of dollars Reserve Bank credit, related items, and Averages of daily figures reserve balances of depository institutions at Week ended Change from week ended Wednesday Federal Reserve Banks Feb 25, 2009 Feb 18, 2009 Feb 27, 2008 Feb 25, 2009 Currency in circulation (15) 893,696 - 535 + 78,332 895,390 Reverse repurchase agreements (16) 67,843 - 5,150 + 28,310 67,713 Foreign official and international accounts 67,843 - 5,150 + 28,310 67,713 Dealers 0 0 0 0 Treasury cash holdings 278 + 8 + 17 282 Deposits with F.R. Banks, other than reserve balances 247,206 - 5,398 + 235,336 240,361 U.S. Treasury, general account 35,583 + 4,501 + 30,843 25,109 U.S. Treasury, supplementary financing account 199,950 0 + 199,950 199,950 Foreign official 2,682 + 237 + 2,584 2,233 Service-related 4,476 + 2 - 2,274 4,476 Required clearing balances 4,476 + 2 - 2,274 4,476 Adjustments to compensate for float 0 0 0 0 Other 4,516 - 10,137 + 4,233 8,593 Other liabilities and capital (17) 50,884 + 653 + 7,220 50,993 Total factors, other than reserve balances, absorbing reserve funds 1,259,906 - 10,423 + 349,214 1,254,739 Reserve balances with Federal Reserve Banks 692,310 + 3,326 + 684,680 696,674 Note: Components may not sum to totals because of rounding. 1. Includes securities lent to dealers under the overnight and term securities lending facilities; refer to table 1A. 2. Face value of the securities. 3. Compensation that adjusts for the effect of inflation on the original face value of inflation-indexed securities. 4. Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. Current face value of the securities, which is the remaining principal balance of the underlying mortgages. 5. Cash value of agreements. 6. Includes credit extended through the Primary Dealer Credit Facility and credit extended to certain other broker-dealers. 7. Excludes credit extended to consolidated LLCs. 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. Refer to table 3 and the note on consolidation accompanying table 9. 11. Refer to table 4 and the note on consolidation accompanying table 9. 12. Refer to table 5 and the note on consolidation accompanying table 9. 13. 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. 14. Includes other assets denominated in foreign currencies, which are revalued daily at market exchange rates. 15. Estimated. 16. Cash value of agreements, which are collateralized by U.S. Treasury securities. 17. Includes the liabilities of Commercial Paper Funding Facility LLC, the LLCs funded through the Money Market Investor Funding Facility, Maiden Lane LLC, Maiden Lane II LLC, and Maiden Lane III 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 3 through table 7 and the note on consolidation accompanying table 9. Sources: Federal Reserve Banks and the U.S. Department of the Treasury. 1A. Memorandum Items Millions of dollars Averages of daily figures Memorandum item Week ended Change from week ended Wednesday Feb 25, 2009 Feb 18, 2009 Feb 27, 2008 Feb 25, 2009 Marketable securities held in custody for foreign official and international accounts (1) 2,580,726 + 4,617 + 439,270 2,579,949 U.S. Treasury securities 1,766,673 + 4,332 + 496,390 1,767,166 Federal agency securities (2) 814,053 + 285 - 57,120 812,783 Securities lent to dealers 117,841 - 3,572 + 103,382 115,930 Overnight facility (3) 6,285 + 152 - 8,174 4,660 Term facility (4) 111,556 - 3,724 + 111,556 111,270 Note: Components may not sum to totals because of rounding. 1. Face value of the securities. Includes U.S. Treasury STRIPS, other zero-coupon bonds, and mortgage-backed securities at face value. 2. Includes debt and mortgage-backed securities. 3. Fully collateralized by U.S. Treasury securities. 4. Fully collateralized by U.S. Treasury securities, federal agency securities, and other highly rated debt securities. 2. Maturity Distribution of Term Auction Credit, Other Loans, and Securities, February 25, 2009 Millions of dollars Remaining maturity Within 15 16 days to 91 days to Over 1 year Over 5 years Over 10 All days 90 days 1 year to 5 years to 10 years years Term auction credit 208,558 239,005 --- --- --- --- 447,563 Other loans (1) 90,166 10,267 303 38,163 --- --- 138,899 U.S. Treasury securities (2) Holdings 19,676 26,823 61,313 167,973 99,416 99,442 474,643 Weekly changes + 2,156 - 2,156 - 4 - 35 - 26 - 47 - 113 Federal agency debt securities (3) Holdings 449 1,199 2,567 26,690 7,433 0 38,338 Weekly changes - 291 - 349 0 + 4,190 + 1,211 0 + 4,761 Mortgage-backed securities (4) Holdings 0 0 0 0 0 68,745 68,745 Weekly changes 0 0 0 0 0 + 3,453 + 3,453 Commercial paper held by Commercial Paper Funding Facility LLC (5) 19,664 221,920 0 --- --- --- 241,584 Money market instruments held by LLCs funded through the Money Market Investor Funding Facility (6) 0 0 0 --- --- --- 0 Repurchase agreements (7) 0 0 --- --- --- --- 0 Central bank liquidity swaps (8) 246,532 128,416 0 0 0 0 374,947 Reverse repurchase agreements (7) 67,713 0 --- --- --- --- 67,713 Note: Components may not sum to totals because of rounding. --- Not applicable. 1. Excludes the loans from the Federal Reserve Bank of New York (FRBNY) to Commercial Paper Funding Facility LLC, the LLCs funded through the Money Market Investor Funding Facility, Maiden Lane LLC, Maiden Lane II LLC, and Maiden Lane III LLC. The loans were eliminated when preparing the FRBNY's statement of condition consistent with consolidation under generally accepted accounting principles. 2. Face value. For inflation-indexed securities, includes the original face value and compensation that adjusts for the effect of inflation on the original face value of such securities. 3. Face value. 4. Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. Current face value of the securities, which is the remaining principal balance of the underlying mortgages. 5. Face value of commercial paper held by Commercial Paper Funding Facility LLC. 6. Face value of money market instruments held by LLCs funded through the Money Market Investor Funding Facility. 7. Cash value of agreements. 8. Dollar value of foreign currency held under these arrangements 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. Information on Principal Accounts of Maiden Lane LLC Millions of dollars Wednesday Account name Feb 25, 2009 Net portfolio holdings of Maiden Lane LLC (1) 25,969 Outstanding principal amount of loan extended by the Federal Reserve Bank of New York (2) 28,820 Accrued interest payable to the Federal Reserve Bank of New York (2) 290 Outstanding principal amount and accrued interest on loan payable to JPMorgan Chase & Co. (3) 1,197 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, 2008. 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. 4. Information on Principal Accounts of Maiden Lane II LLC Millions of dollars Wednesday Account name Feb 25, 2009 Net portfolio holdings of Maiden Lane II LLC (1) 18,647 Outstanding principal amount of loan extended by the Federal Reserve Bank of New York (2) 18,825 Accrued interest payable to the Federal Reserve Bank of New York (2) 70 Deferred payment and accrued interest payable to subsidiaries of American International Group, Inc. (3) 1,008 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, 2008. 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. 5. Information on Principal Accounts of Maiden Lane III LLC Millions of dollars Wednesday Account name Feb 25, 2009 Net portfolio holdings of Maiden Lane III LLC (1) 27,695 Outstanding principal amount of loan extended by the Federal Reserve Bank of New York (2) 24,339 Accrued interest payable to the Federal Reserve Bank of New York (2) 99 Outstanding principal amount and accrued interest on loan payable to American International Group, Inc. (3) 5,049 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, 2008. 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. 6. Information on Principal Accounts of Commercial Paper Funding Facility LLC Millions of dollars Wednesday Account name Feb 25, 2009 Commercial paper holdings, net (1) 240,110 Other investments, net 2,394 Net portfolio holdings of Commercial Paper Funding Facility LLC 242,503 Memorandum: Commercial paper holdings, face value 241,584 Outstanding principal amount of loan extended by the Federal Reserve Bank of New York (2) 240,271 Accrued interest payable to the Federal Reserve Bank of New York (2) 93 1. Book value, which includes amortized cost and related fees. 2. Book value. This amount was eliminated when preparing the Federal Reserve Bank of New York's statement of condition consistent with consolidation under generally accepted accounting principles. Refer to the note on consolidation accompanying table 9. Note: On October 27, 2008, the Federal Reserve Bank of New York began extending loans under the authority of section 13(3) of the Federal Reserve Act to Commercial Paper Funding Facility LLC. This LLC is a limited liability company formed to purchase three-month U.S. dollar-denominated commercial paper from eligible issuers and thereby foster liquidity in short-term funding markets and increase the availability of credit for businesses and households. 7. Information on Principal Accounts of LLCs Funded through the Money Market Investor Funding Facility Millions of dollars Wednesday Account name Feb 25, 2009 Money market instrument holdings, net (1) 0 Other investments, net 0 Net portfolio holdings of LLCs funded through the Money Market Investor Funding Facility 0 Memorandum: Money market instrument holdings, face value 0 Outstanding principal amount of loan extended by the Federal Reserve Bank of New York (2) 0 Accrued interest payable to the Federal Reserve Bank of New York (2) 0 Commercial paper issued by LLCs funded through the Money Market Investor Funding Facility, net of related discounts 0 1. Book value, which includes amortized cost. 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. Note: The Federal Reserve Board authorized the Federal Reserve Bank of New York to extend credit under the authority of section 13(3) of the Federal Reserve Act to a series of limited liability companies funded through the Money Market Investor Funding Facility (MMIFF). The MMIFF became operational on November 24, 2008. These limited liability companies were established to purchase short-term U.S. dollar-denominated certificates of deposit, bank notes, and outstanding asset-backed commercial paper from eligible issuers. Such purchases are designed to foster liquidity in short-term money markets. 8. Consolidated Statement of Condition of All Federal Reserve Banks Millions of dollars Eliminations Change since from Wednesday Wednesday Wednesday Assets, liabilities, and capital consolidation Feb 25, 2009 Feb 18, 2009 Feb 27, 2008 Assets Gold certificate account 11,037 0 0 Special drawing rights certificate account 2,200 0 0 Coin 1,855 - 31 + 503 Securities, repurchase agreements, term auction credit, and other loans 1,168,188 + 6,507 + 339,646 Securities held outright 581,726 + 8,101 - 131,629 U.S. Treasury securities (1) 474,643 - 113 - 238,712 Bills (2) 18,423 0 - 181,937 Notes and bonds, nominal (2) 412,914 0 - 57,096 Notes and bonds, inflation-indexed (2) 39,378 0 + 941 Inflation compensation (3) 3,929 - 113 - 620 Federal agency debt securities (2) 38,338 + 4,761 + 38,338 Mortgage-backed securities (4) 68,745 + 3,453 + 68,745 Repurchase agreements (5) 0 0 - 54,500 Term auction credit 447,563 0 + 387,563 Other loans 138,899 - 1,594 + 138,212 Net portfolio holdings of Commercial Paper Funding Facility LLC (6) 242,503 - 6,168 + 242,503 Net portfolio holdings of LLCs funded through the Money Market Investor Funding Facility (7) 0 0 0 Net portfolio holdings of Maiden Lane LLC (8) 25,969 + 52 + 25,969 Net portfolio holdings of Maiden Lane II LLC (9) 18,647 + 7 + 18,647 Net portfolio holdings of Maiden Lane III LLC (10) 27,695 + 21 + 27,695 Items in process of collection (346) 959 - 519 - 606 Bank premises 2,187 0 + 49 Central bank liquidity swaps (11) 374,947 - 58 + 364,947 Other assets (12) 41,394 + 734 + 1,871 Total assets (346) 1,917,581 + 545 +1,021,225 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 Change since from Wednesday Wednesday Wednesday Assets, liabilities, and capital consolidation Feb 25, 2009 Feb 18, 2009 Feb 27, 2008 Liabilities Federal Reserve notes, net of F.R. Bank holdings 858,738 + 250 + 79,286 Reverse repurchase agreements (13) 67,713 - 3,091 + 25,065 Deposits (0) 937,028 + 4,341 + 909,433 Depository institutions 701,143 - 7,987 + 679,020 U.S. Treasury, general account 25,109 + 4,608 + 20,006 U.S. Treasury, supplementary financing account 199,950 0 + 199,950 Foreign official 2,233 - 544 + 2,134 Other (0) 8,593 + 8,264 + 8,323 Deferred availability cash items (346) 3,110 - 1,573 + 336 Other liabilities and accrued dividends (14) 8,798 + 118 + 4,325 Total liabilities (346) 1,875,387 + 44 +1,018,445 Capital accounts Capital paid in 22,190 + 88 + 2,795 Surplus 19,832 + 326 + 1,375 Other capital accounts 172 + 86 - 1,390 Total capital 42,194 + 500 + 2,780 Note: Components may not sum to totals because of rounding. 1. Includes securities lent to dealers under the overnight and term securities lending facilities; refer to table 1A. 2. Face value of the securities. 3. Compensation that adjusts for the effect of inflation on the original face value of inflation-indexed securities. 4. Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. Current face value of the securities, which is the remaining principal balance of the underlying mortgages. 5. Cash value of agreements, which are collateralized by U.S. Treasury and federal agency securities. 6. Refer to table 6 and the note on consolidation accompanying table 9. 7. Refer to table 7 and the note on consolidation accompanying table 9. 8. Refer to table 3 and the note on consolidation accompanying table 9. 9. Refer to table 4 and the note on consolidation accompanying table 9. 10. Refer to table 5 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. 13. Cash value of agreements, which are collateralized by U.S. Treasury securities. 14. Includes the liabilities of Commercial Paper Funding Facility LLC, the LLCs funded through the Money Market Investor Funding Facility, Maiden Lane LLC, Maiden Lane II LLC, and Maiden Lane III 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 3 through table 7 and the note on consolidation accompanying table 9. 9. Statement of Condition of Each Federal Reserve Bank, February 25, 2009 Millions of dollars Kansas San Assets, liabilities, and capital Total Boston New York Philadelphia Cleveland Richmond Atlanta Chicago St. Louis Minneapolis City Dallas Francisco Assets Gold certificate account 11,037 424 3,935 453 423 891 1,221 913 344 199 349 636 1,249 Special drawing rights certificate acct. 2,200 115 874 83 104 147 166 212 71 30 66 98 234 Coin 1,855 62 83 156 155 256 230 215 46 60 126 187 281 Securities, repurchase agreements, term auction credit, and other loans 1,168,188 54,979 549,852 65,859 32,614 117,498 73,671 59,290 25,175 17,003 24,111 31,822 116,314 Securities held outright 581,726 24,400 206,975 25,399 22,059 52,750 57,881 51,343 20,102 10,982 21,360 24,131 64,345 U.S. Treasury securities (1) 474,643 19,908 168,875 20,724 17,998 43,040 47,226 41,892 16,402 8,961 17,428 19,689 52,501 Bills (2) 18,423 773 6,555 804 699 1,671 1,833 1,626 637 348 676 764 2,038 Notes and bonds (3) 456,220 19,136 162,320 19,919 17,300 41,369 45,393 40,266 15,765 8,613 16,751 18,924 50,463 Federal agency debt securities (2) 38,338 1,608 13,640 1,674 1,454 3,476 3,815 3,384 1,325 724 1,408 1,590 4,241 Mortgage-backed securities (4) 68,745 2,883 24,459 3,002 2,607 6,234 6,840 6,067 2,376 1,298 2,524 2,852 7,604 Repurchase agreements (5) 0 0 0 0 0 0 0 0 0 0 0 0 0 Term auction credit 447,563 20,317 220,759 40,315 10,546 64,159 15,539 5,999 4,759 5,699 2,712 6,600 50,160 Other loans 138,899 10,263 122,118 145 9 589 252 1,948 314 321 39 1,091 1,809 Net portfolio holdings of Commercial Paper Funding Facility LLC (6) 242,503 0 242,503 0 0 0 0 0 0 0 0 0 0 Net portfolio holdings of LLCs funded through the Money Market Investor Funding Facility (7) 0 0 0 0 0 0 0 0 0 0 0 0 0 Net portfolio holdings of Maiden Lane LLC (8) 25,969 0 25,969 0 0 0 0 0 0 0 0 0 0 Net portfolio holdings of Maiden Lane II LLC (9) 18,647 0 18,647 0 0 0 0 0 0 0 0 0 0 Net portfolio holdings of Maiden Lane III LLC (10) 27,695 0 27,695 0 0 0 0 0 0 0 0 0 0 Items in process of collection 1,305 59 0 221 138 43 314 65 119 75 49 83 140 Bank premises 2,187 123 211 65 147 230 224 207 133 112 273 250 212 Central bank liquidity swaps (11) 374,947 14,624 107,015 40,100 26,884 103,583 27,916 12,185 3,632 5,619 3,601 4,694 25,095 Other assets (12) 41,394 1,726 12,734 3,365 2,412 8,370 3,525 2,260 850 708 875 1,043 3,525 Interdistrict settlement account 0 + 406 - 31,833 - 54,881 + 11,063 - 39,041 + 28,961 + 24,937 + 3,623 - 4,029 + 16,996 + 19,673 + 24,124 Total assets 1,917,927 72,518 957,685 55,420 73,940 191,978 136,228 100,285 33,993 19,776 46,446 58,484 171,174 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 25, 2009 (continued) Millions of dollars Kansas 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 1,035,690 37,619 362,545 40,792 45,909 79,932 134,304 84,600 28,987 18,045 29,427 61,872 111,658 Less: Notes held by F.R. Banks 176,952 5,735 48,589 5,428 7,332 12,347 29,325 13,753 3,517 3,089 3,663 17,316 26,860 Federal Reserve notes, net 858,738 31,884 313,956 35,364 38,576 67,586 104,979 70,847 25,471 14,956 25,764 44,555 84,798 Reverse repurchase agreements (13) 67,713 2,840 24,092 2,956 2,568 6,140 6,737 5,976 2,340 1,278 2,486 2,809 7,490 Deposits 937,028 35,754 602,314 11,685 29,024 105,907 20,578 21,355 5,555 2,242 17,489 10,158 74,967 Depository institutions 701,143 35,746 366,577 11,680 29,018 105,801 20,575 21,353 5,544 2,242 17,487 10,157 74,963 U.S. Treasury, general account 25,109 0 25,109 0 0 0 0 0 0 0 0 0 0 U.S. Treasury, supplementary financing account 199,950 0 199,950 0 0 0 0 0 0 0 0 0 0 Foreign official 2,233 2 2,204 4 3 11 3 1 0 1 0 1 3 Other 8,593 6 8,474 1 3 94 0 0 11 0 1 0 2 Deferred availability cash items 3,456 101 0 658 493 201 310 330 33 376 149 228 576 Other liabilities and accrued dividends (14) 8,798 158 6,310 183 184 441 358 295 154 109 120 170 317 Total liabilities 1,875,733 70,738 946,673 50,846 70,844 180,275 132,962 98,803 33,553 18,963 46,008 57,919 168,148 Capital Capital paid in 22,190 903 6,282 2,320 1,594 5,979 1,644 730 216 485 214 280 1,543 Surplus 19,832 844 4,731 2,254 1,502 5,724 1,612 704 210 324 208 271 1,449 Other capital 172 32 0 0 0 0 10 48 15 4 16 14 33 Total liabilities and capital 1,917,927 72,518 957,685 55,420 73,940 191,978 136,228 100,285 33,993 19,776 46,446 58,484 171,174 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 25, 2009 (continued) 1. Includes securities lent to dealers under the overnight and term securities lending facilities; refer to table 1A. 2. Face value of the securities. 3. Includes the original face value of inflation-indexed securities and compensation that adjusts for the effect of inflation on the original face value of such securities. 4. Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. Current face value of the securities, which is the remaining principal balance of the underlying mortgages. 5. Cash value of agreements, which are collateralized by U.S. Treasury and federal agency securities. 6. Refer to table 6 and the note on consolidation below. 7. Refer to table 7 and the note on consolidation below. 8. Refer to table 3 and the note on consolidation below. 9. Refer to table 4 and the note on consolidation below. 10. Refer to table 5 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. Includes other assets denominated in foreign currencies, which are revalued daily at market exchange rates. 13. Cash value of agreements, which are collateralized by U.S. Treasury securities. 14. Includes the liabilities of Commercial Paper Funding Facility LLC, the LLCs funded through the Money Market Investor Funding Facility, Maiden Lane LLC, Maiden Lane II LLC, and Maiden Lane III LLCto 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 3 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 October 27, 2008, the FRBNY began extending loans to Commercial Paper Funding Facility LLC, which was formed to purchase three-month U.S. dollar-denominated commercial paper from eligible issuers. On October 21, 2008, the Federal Reserve Board authorized the FRBNY to extend credit to a series of LLCs funded through the Money Market Investor Funding Facility. These LLCs, which became operational on November 24, 2008, were established to purchase short-term U.S. dollar-denominated certificates of deposit, bank notes, and commercial paper from eligible issuers. On November 25, 2008, a loan was extended to Maiden Lane III LLC, which was formed to purchase multi-sector collateralized debt obligations on which the Financial Products group of the American International Group, Inc. has written credit default swap contracts. On December 12, 2008, a loan was extended to Maiden Lane II LLC, which was formed to purchase residential mortgage-backed securities from the U.S. securities lending reinvestment portfolio of subsidiaries of American International Group, Inc. The FRBNY is the sole beneficiary of Commercial Paper Funding Facility LLC and the primary beneficiary of the other LLCs cited above. 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 Feb 25, 2009 Federal Reserve notes outstanding 1,035,690 Less: Notes held by F.R. Banks not subject to collateralization 176,952 Federal Reserve notes to be collateralized 858,738 Collateral held against Federal Reserve notes 858,738 Gold certificate account 11,037 Special drawing rights certificate account 2,200 U.S. Treasury, agency debt, and mortgage-backed securities pledged (1) 519,601 Other assets pledged 325,900 Memo: Total U.S. Treasury, agency debt, and mortgage-backed securities (1) 581,726 Less: Face value of securities under reverse repurchase agreements 62,125 U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 519,601 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.