FEDERAL RESERVE statistical release H.4.1 Factors Affecting Reserve Balances of Depository Institutions and Condition Statement of Federal Reserve Banks March 5, 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 Mar 4, 2009 Feb 25, 2009 Mar 5, 2008 Mar 4, 2009 Reserve Bank credit 1,891,437 - 8,752 +1,017,956 1,884,079 Securities held outright 581,721 + 2,638 - 131,644 581,759 U.S. Treasury securities (1) 474,607 - 77 - 238,758 474,619 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) 3,893 - 78 - 666 3,905 Federal agency debt securities (2) 38,252 + 2,383 + 38,252 38,238 Mortgage-backed securities (4) 68,862 + 333 + 68,862 68,902 Repurchase agreements (5) 0 0 - 59,357 0 Term auction credit 493,145 + 45,582 + 433,145 493,145 Other loans 140,945 + 1,481 + 140,587 140,343 Primary credit 65,961 + 1,553 + 65,606 66,728 Secondary credit 0 - 7 0 0 Seasonal credit 2 0 - 1 2 Primary dealer and other broker-dealer credit (6) 23,799 - 1,819 + 23,799 23,557 Asset-backed Commercial Paper Money Market Mutual Fund Liquidity Facility 9,531 - 1,851 + 9,531 8,087 Credit extended to American International Group, Inc. (7) 41,652 + 3,606 + 41,652 41,969 Other credit extensions 0 0 0 0 Net portfolio holdings of Commercial Paper Funding Facility LLC (8) 242,052 - 4,181 + 242,052 241,296 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) 25,989 + 65 + 25,989 26,107 Net portfolio holdings of Maiden Lane II LLC (11) 18,655 + 14 + 18,655 18,708 Net portfolio holdings of Maiden Lane III LLC (12) 27,702 + 25 + 27,702 27,745 Float -2,294 + 86 - 920 -2,949 Central bank liquidity swaps (13) 320,389 - 54,201 + 320,389 315,211 Other Federal Reserve assets (14) 43,133 - 262 + 1,358 42,714 Gold stock 11,041 0 0 11,041 Special drawing rights certificate account 2,200 0 0 2,200 Treasury currency outstanding (15) 38,800 + 14 + 120 38,800 Total factors supplying reserve funds 1,943,478 - 8,738 +1,018,076 1,936,120 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 reserve balances of depository institutions at Week ended Change from week ended Wednesday Federal Reserve Banks Mar 4, 2009 Feb 25, 2009 Mar 5, 2008 Mar 4, 2009 Currency in circulation (15) 895,114 + 1,418 + 79,215 897,131 Reverse repurchase agreements (16) 72,625 + 4,782 + 29,487 71,262 Foreign official and international accounts 72,625 + 4,782 + 29,487 71,262 Dealers 0 0 0 0 Treasury cash holdings 284 + 6 + 24 295 Deposits with F.R. Banks, other than reserve balances 276,319 + 29,113 + 264,334 300,653 U.S. Treasury, general account 52,413 + 16,830 + 47,546 68,282 U.S. Treasury, supplementary financing account 199,950 0 + 199,950 199,950 Foreign official 1,547 - 1,135 + 1,450 1,640 Service-related 4,466 - 10 - 2,284 4,466 Required clearing balances 4,466 - 10 - 2,284 4,466 Adjustments to compensate for float 0 0 0 0 Other 17,942 + 13,426 + 17,671 26,315 Other liabilities and capital (17) 51,332 + 448 + 6,936 51,512 Total factors, other than reserve balances, absorbing reserve funds 1,295,673 + 35,767 + 379,995 1,320,853 Reserve balances with Federal Reserve Banks 647,805 - 44,505 + 638,081 615,267 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 Mar 4, 2009 Feb 25, 2009 Mar 5, 2008 Mar 4, 2009 Marketable securities held in custody for foreign official and international accounts (1) 2,596,440 + 15,714 + 446,428 2,599,214 U.S. Treasury securities 1,779,256 + 12,583 + 498,629 1,783,008 Federal agency securities (2) 817,184 + 3,131 - 52,201 816,206 Securities lent to dealers 117,853 + 12 + 98,833 117,769 Overnight facility (3) 5,683 - 602 - 13,337 5,599 Term facility (4,5) 112,170 + 614 + 112,170 112,170 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. 5. On March 4, 2009, option contracts on draws on the Term Securities Lending Facility totaling $ 35,000 million were outstanding. The exercise date for the options is March 26, 2009, and the draws have a term of March 27, 2009 through April 3, 2009. 2. Maturity Distribution of Term Auction Credit, Other Loans, and Securities, March 4, 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 142,328 350,818 --- --- --- --- 493,145 Other loans (1) 86,458 11,861 55 41,969 --- --- 140,343 U.S. Treasury securities (2) Holdings 13,258 31,686 60,732 168,922 100,588 99,432 474,619 Weekly changes - 6,418 + 4,863 - 581 + 949 + 1,172 - 10 - 24 Federal agency debt securities (3) Holdings 977 571 2,567 26,690 7,433 0 38,238 Weekly changes + 528 - 628 0 0 0 0 - 100 Mortgage-backed securities (4) Holdings 0 0 0 0 0 68,902 68,902 Weekly changes 0 0 0 0 0 + 157 + 157 Commercial paper held by Commercial Paper Funding Facility LLC (5) 19,041 221,222 0 --- --- --- 240,262 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) 140,285 174,926 0 0 0 0 315,211 Reverse repurchase agreements (7) 71,262 0 --- --- --- --- 71,262 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 Mar 4, 2009 Net portfolio holdings of Maiden Lane LLC (1) 26,107 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) 292 Outstanding principal amount and accrued interest on loan payable to JPMorgan Chase & Co. (3) 1,198 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 Mar 4, 2009 Net portfolio holdings of Maiden Lane II LLC (1) 18,708 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) 75 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 Mar 4, 2009 Net portfolio holdings of Maiden Lane III LLC (1) 27,745 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) 106 Outstanding principal amount and accrued interest on loan payable to American International Group, Inc. (3) 5,052 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 Mar 4, 2009 Commercial paper holdings, net (1) 238,876 Other investments, net 2,420 Net portfolio holdings of Commercial Paper Funding Facility LLC 241,296 Memorandum: Commercial paper holdings, face value 240,262 Outstanding principal amount of loan extended by the Federal Reserve Bank of New York (2) 238,943 Accrued interest payable to the Federal Reserve Bank of New York (2) 82 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 Mar 4, 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 Mar 4, 2009 Feb 25, 2009 Mar 5, 2008 Assets Gold certificate account 11,037 0 0 Special drawing rights certificate account 2,200 0 0 Coin 1,848 - 7 + 497 Securities, repurchase agreements, term auction credit, and other loans 1,215,247 + 47,059 + 389,572 Securities held outright 581,759 + 33 - 131,629 U.S. Treasury securities (1) 474,619 - 24 - 238,769 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) 3,905 - 24 - 676 Federal agency debt securities (2) 38,238 - 100 + 38,238 Mortgage-backed securities (4) 68,902 + 157 + 68,902 Repurchase agreements (5) 0 0 - 52,250 Term auction credit 493,145 + 45,582 + 433,145 Other loans 140,343 + 1,444 + 140,306 Net portfolio holdings of Commercial Paper Funding Facility LLC (6) 241,296 - 1,207 + 241,296 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) 26,107 + 138 + 26,107 Net portfolio holdings of Maiden Lane II LLC (9) 18,708 + 61 + 18,708 Net portfolio holdings of Maiden Lane III LLC (10) 27,745 + 50 + 27,745 Items in process of collection (517) 705 - 254 - 1,010 Bank premises 2,182 - 5 + 42 Central bank liquidity swaps (11) 315,211 - 59,736 + 315,211 Other assets (12) 40,512 - 882 + 928 Total assets (517) 1,902,798 - 14,783 +1,019,096 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 Mar 4, 2009 Feb 25, 2009 Mar 5, 2008 Liabilities Federal Reserve notes, net of F.R. Bank holdings 860,470 + 1,732 + 79,701 Reverse repurchase agreements (13) 71,262 + 3,549 + 30,450 Deposits (0) 915,900 - 21,128 + 901,005 Depository institutions 619,713 - 81,430 + 609,984 U.S. Treasury, general account 68,282 + 43,173 + 63,488 U.S. Treasury, supplementary financing account 199,950 0 + 199,950 Foreign official 1,640 - 593 + 1,542 Other (0) 26,315 + 17,722 + 26,040 Deferred availability cash items (517) 3,654 + 544 + 394 Other liabilities and accrued dividends (14) 8,813 + 15 + 4,398 Total liabilities (517) 1,860,098 - 15,289 +1,015,947 Capital accounts Capital paid in 22,194 + 4 + 2,733 Surplus 20,267 + 435 + 1,809 Other capital accounts 238 + 66 - 1,394 Total capital 42,699 + 505 + 3,148 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, March 4, 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 1,848 62 82 156 154 255 225 216 45 59 126 184 282 Securities, repurchase agreements, term auction credit, and other loans 1,215,247 54,371 565,688 72,355 33,513 139,769 71,727 59,812 24,912 17,023 23,886 30,981 121,210 Securities held outright 581,759 24,401 206,986 25,400 22,060 52,753 57,884 51,346 20,104 10,983 21,361 24,132 64,349 U.S. Treasury securities (1) 474,619 19,907 168,866 20,723 17,997 43,038 47,224 41,890 16,401 8,960 17,427 19,688 52,498 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) 456,196 19,135 162,312 19,918 17,299 41,367 45,391 40,264 15,765 8,612 16,751 18,923 50,460 Federal agency debt securities (2) 38,238 1,604 13,605 1,670 1,450 3,467 3,805 3,375 1,321 722 1,404 1,586 4,230 Mortgage-backed securities (4) 68,902 2,890 24,515 3,008 2,613 6,248 6,856 6,081 2,381 1,301 2,530 2,858 7,621 Repurchase agreements (5) 0 0 0 0 0 0 0 0 0 0 0 0 0 Term auction credit 493,145 21,622 233,360 46,815 11,445 86,488 13,623 6,469 4,564 5,699 2,477 5,675 54,909 Other loans 140,343 8,348 125,341 139 8 529 220 1,998 245 341 48 1,174 1,952 Net portfolio holdings of Commercial Paper Funding Facility LLC (6) 241,296 0 241,296 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) 26,107 0 26,107 0 0 0 0 0 0 0 0 0 0 Net portfolio holdings of Maiden Lane II LLC (9) 18,708 0 18,708 0 0 0 0 0 0 0 0 0 0 Net portfolio holdings of Maiden Lane III LLC (10) 27,745 0 27,745 0 0 0 0 0 0 0 0 0 0 Items in process of collection 1,221 63 0 203 138 45 47 279 46 87 42 106 167 Bank premises 2,182 122 210 65 146 230 224 207 132 112 272 249 212 Central bank liquidity swaps (11) 315,211 12,040 94,621 33,014 22,134 85,281 22,983 10,032 2,990 4,626 2,965 3,864 20,661 Other assets (12) 40,512 1,672 12,502 3,275 2,348 8,161 3,462 2,224 844 695 863 1,025 3,441 Interdistrict settlement account 0 - 9,181 - 57,994 - 49,899 + 11,316 - 36,439 + 36,832 + 31,343 + 6,113 - 1,709 + 22,638 + 21,090 + 25,891 Total assets 1,903,314 59,689 933,774 59,704 70,276 198,341 136,888 105,238 35,498 21,121 51,208 58,233 173,345 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, March 4, 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 1,037,277 37,558 362,692 40,829 45,952 79,871 134,117 85,441 28,948 18,937 29,407 62,087 111,437 Less: Notes held by F.R. Banks 176,807 5,658 50,108 5,359 7,375 12,208 29,340 13,559 3,631 2,984 3,574 16,796 26,215 Federal Reserve notes, net 860,470 31,900 312,583 35,470 38,577 67,664 104,777 71,882 25,317 15,953 25,833 45,291 85,223 Reverse repurchase agreements (13) 71,262 2,989 25,355 3,111 2,702 6,462 7,090 6,290 2,463 1,345 2,617 2,956 7,882 Deposits 915,900 22,724 577,993 15,737 25,148 111,796 21,021 24,763 7,063 2,516 22,043 8,946 76,149 Depository institutions 619,713 22,720 281,930 15,733 25,145 111,704 21,017 24,761 7,057 2,515 22,041 8,945 76,145 U.S. Treasury, general account 68,282 0 68,282 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 1,640 2 1,610 4 3 11 3 1 0 1 0 1 3 Other 26,315 3 26,221 0 0 81 0 0 5 0 1 0 2 Deferred availability cash items 4,171 132 0 645 579 297 354 528 60 384 156 300 735 Other liabilities and accrued dividends (14) 8,813 158 6,325 184 181 460 357 289 155 106 118 170 309 Total liabilities 1,860,615 57,904 922,256 55,148 67,187 186,679 133,599 103,752 35,057 20,304 50,767 57,663 170,298 Capital Capital paid in 22,194 903 6,282 2,320 1,597 5,979 1,644 730 216 485 214 281 1,543 Surplus 20,267 844 5,236 2,237 1,492 5,682 1,612 704 210 324 208 271 1,449 Other capital 238 38 0 0 0 0 33 52 16 8 19 19 55 Total liabilities and capital 1,903,314 59,689 933,774 59,704 70,276 198,341 136,888 105,238 35,498 21,121 51,208 58,233 173,345 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, March 4, 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 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 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 Mar 4, 2009 Federal Reserve notes outstanding 1,037,277 Less: Notes held by F.R. Banks not subject to collateralization 176,807 Federal Reserve notes to be collateralized 860,470 Collateral held against Federal Reserve notes 860,470 Gold certificate account 11,037 Special drawing rights certificate account 2,200 U.S. Treasury, agency debt, and mortgage-backed securities pledged (1) 514,939 Other assets pledged 332,294 Memo: Total U.S. Treasury, agency debt, and mortgage-backed securities (1) 581,759 Less: Face value of securities under reverse repurchase agreements 66,820 U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 514,939 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.