For release at 4:30 p.m. EDT April 2, 2009 The Board's H.4.1 statistical release, "Factors Affecting Reserve Balances of Depository Institutions and Condition Statement of Federal Reserve Banks," has been modified to include supplemental information related to Federal Reserve System purchases of mortgage-backed securities (MBS) guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. This supplemental information will be presented in a new table 3, "Supplemental Information on Mortgage-Backed Securities Purchase Program." On November 25, 2008, the Federal Reserve announced a program to purchase MBS guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. The goal of the program is to reduce the cost and increase the availability of credit for the purchase of houses, which in turn should support mortgage and housing markets and foster improved conditions in financial markets more generally. The first line of table 3 presents the current face value of MBS held outright. This information, which represents the remaining principal balance of the underlying mortgages, is also presented in tables 1, 9, and 10 of the release. Table 3 also presents commitments to buy and sell MBS--that is, purchases and sales of securities that have not yet settled. These commitments are related both to outright transactions as well as dollar rolls. A dollar roll transaction consists of a purchase (or sale) of securities combined with an agreement to sell (or purchase) comparable securities in the future. The Federal Reserve's transactions in the dollar roll market support the MBS purchase program by fostering liquid trading conditions in MBS financing markets. Because of occasional principal and interest payments, settlement delays, and cancellations of transactions, the Federal Reserve has some uninvested cash associated with the MBS purchase program. Table 3 presents the cash and cash equivalents related to the program, and this value is included in "other Federal Reserve assets" in table 1 and in "other assets" in table 9 and table 10. FEDERAL RESERVE statistical release H.4.1 Factors Affecting Reserve Balances of Depository Institutions and Condition Statement of Federal Reserve Banks April 2, 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 Apr 1, 2009 Mar 25, 2009 Apr 2, 2008 Apr 1, 2009 Reserve Bank credit 2,048,651 - 2,321 +1,173,151 2,059,537 Securities held outright 773,497 + 13,005 + 184,412 782,583 U.S. Treasury securities (1) 486,219 + 11,488 - 102,866 492,330 Bills (2) 18,423 0 - 74,562 18,423 Notes and bonds, nominal (2) 424,359 + 11,445 - 28,550 430,454 Notes and bonds, inflation-indexed (2) 39,378 0 + 941 39,378 Inflation compensation (3) 4,060 + 43 - 695 4,076 Federal agency debt securities (2) 50,853 + 2,057 + 50,853 53,616 Mortgage-backed securities (4) 236,424 - 540 + 236,424 236,637 Repurchase agreements (5) 0 0 - 77,500 0 Term auction credit 467,278 - 1,311 + 367,278 467,278 Other loans 135,292 + 952 + 90,153 133,084 Primary credit 59,735 - 3,047 + 52,722 58,037 Secondary credit 0 0 0 1 Seasonal credit 3 0 - 4 3 Primary dealer and other broker-dealer credit (6) 19,488 - 601 - 18,630 18,300 Asset-Backed Commercial Paper Money Market Mutual Fund Liquidity Facility 6,650 - 529 + 6,650 6,085 Credit extended to American International Group, Inc. (7) 44,712 + 1,098 + 44,712 45,967 Term Asset-Backed Securities Loan Facility 4,703 + 4,030 + 4,703 4,692 Other credit extensions 0 0 0 0 Net portfolio holdings of Commercial Paper Funding Facility LLC (8) 244,297 + 3,495 + 244,297 249,731 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) 26,295 + 72 + 26,295 26,336 Net portfolio holdings of Maiden Lane II LLC (11) 18,458 + 18 + 18,458 18,516 Net portfolio holdings of Maiden Lane III LLC (12) 27,647 + 16 + 27,647 27,661 Float -2,287 - 135 - 1,195 -2,782 Central bank liquidity swaps (13) 309,828 - 17,864 + 288,828 308,792 Other Federal Reserve assets (14) 48,346 - 568 + 4,479 48,339 Gold stock 11,041 0 0 11,041 Special drawing rights certificate account 2,200 0 0 2,200 Treasury currency outstanding (15) 38,856 + 14 + 177 38,856 Total factors supplying reserve funds 2,100,748 - 2,307 +1,173,329 2,111,634 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 Apr 1, 2009 Mar 25, 2009 Apr 2, 2008 Apr 1, 2009 Currency in circulation (15) 899,198 + 583 + 83,626 901,225 Reverse repurchase agreements (16) 69,486 + 4,308 + 27,790 67,906 Foreign official and international accounts 69,486 + 4,308 + 31,612 67,906 Dealers 0 0 - 3,821 0 Treasury cash holdings 311 + 1 - 24 315 Deposits with F.R. Banks, other than reserve balances 269,837 - 17,816 + 257,266 256,882 U.S. Treasury, general account 47,129 - 30,954 + 41,971 37,754 U.S. Treasury, supplementary financing account 199,934 - 1 + 199,934 199,934 Foreign official 1,110 - 753 + 1,012 846 Service-related 4,430 - 35 - 2,617 4,430 Required clearing balances 4,430 - 35 - 2,617 4,430 Adjustments to compensate for float 0 0 0 0 Other 17,235 + 13,928 + 16,967 13,919 Other liabilities and capital (17) 55,474 - 123 + 10,759 54,809 Total factors, other than reserve balances, absorbing reserve funds 1,294,307 - 13,046 + 379,419 1,281,137 Reserve balances with Federal Reserve Banks 806,441 + 10,739 + 793,909 830,497 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 7 and the note on consolidation accompanying table 10. 9. Refer to table 8 and the note on consolidation accompanying table 10. 10. Refer to table 4 and the note on consolidation accompanying table 10. 11. Refer to table 5 and the note on consolidation accompanying table 10. 12. Refer to table 6 and the note on consolidation accompanying table 10. 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 4 through table 8 and the note on consolidation accompanying table 10. 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 Apr 1, 2009 Mar 25, 2009 Apr 2, 2008 Apr 1, 2009 Marketable securities held in custody for foreign official and international accounts (1) 2,609,329 + 14,605 + 403,238 2,615,016 U.S. Treasury securities 1,799,627 + 16,661 + 500,925 1,805,309 Federal agency securities (2) 809,703 - 2,055 - 97,687 809,707 Securities lent to dealers 90,736 - 2,671 + 5,130 92,838 Overnight facility (3) 5,086 + 1,944 - 16,235 7,188 Term facility (4) 85,650 - 4,614 + 21,364 85,650 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, April 1, 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 117,772 349,506 --- --- --- --- 467,278 Other loans (1) 75,698 6,727 0 50,659 --- --- 133,084 U.S. Treasury securities (2) Holdings 13,077 29,809 61,898 175,762 109,586 102,198 492,330 Weekly changes - 6,209 + 4,584 + 973 + 7,071 + 8,648 + 2,517 + 17,584 Federal agency debt securities (3) Holdings 0 0 4,090 36,423 12,898 205 53,616 Weekly changes 0 0 0 0 + 3,184 + 39 + 3,223 Mortgage-backed securities (4) Holdings 0 0 0 0 0 236,637 236,637 Weekly changes 0 0 0 0 0 + 481 + 481 Commercial paper held by Commercial Paper Funding Facility LLC (5) 15,156 233,041 0 --- --- --- 248,196 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) 149,880 158,912 0 0 0 0 308,792 Reverse repurchase agreements (7) 67,906 0 --- --- --- --- 67,906 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 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 Purchase Program Millions of dollars Wednesday Account name Apr 1, 2009 Mortgage-backed securities held outright (1) 236,637 Commitments to buy mortgage-backed securities (2) 183,901 Commitments to sell mortgage-backed securities (2) 119,750 Cash and cash equivalents (3) 783 1. Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. Current face value of the securities, which is the remaining principal balance of the underlying mortgages. 2. Current face value. Generally settle within 180 days and include commitments associated with outright transactions as well as dollar rolls. 3. This amount is included in other Federal Reserve assets in table 1 and in other assets in table 9 and table 10. 4. Information on Principal Accounts of Maiden Lane LLC Millions of dollars Wednesday Account name Apr 1, 2009 Net portfolio holdings of Maiden Lane LLC (1) 26,336 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) 304 Outstanding principal amount and accrued interest on loan payable to JPMorgan Chase & Co. (3) 1,202 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 10. 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 9 and table 10. Note: On June 26, 2008, the Federal Reserve Bank of New York (FRBNY) extended credit to Maiden Lane LLC under the authority of section 13(3) of the Federal Reserve Act. This limited liability company was formed to acquire certain assets of Bear Stearns and to manage those assets through time to maximize repayment of the credit extended and to minimize disruption to financial markets. Payments by Maiden Lane LLC from the proceeds of the net portfolio holdings will be made in the following order: operating expenses of the LLC, principal due to the FRBNY, interest due to the FRBNY, principal due to JPMorgan Chase & Co., and interest due to JPMorgan Chase & Co. Any remaining funds will be paid to the FRBNY. 5. Information on Principal Accounts of Maiden Lane II LLC Millions of dollars Wednesday Account name Apr 1, 2009 Net portfolio holdings of Maiden Lane II LLC (1) 18,516 Outstanding principal amount of loan extended by the Federal Reserve Bank of New York (2) 18,543 Accrued interest payable to the Federal Reserve Bank of New York (2) 96 Deferred payment and accrued interest payable to subsidiaries of American International Group, Inc. (3) 1,011 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 10. 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 9 and table 10. Note: On December 12, 2008, the Federal Reserve Bank of New York (FRBNY) began extending credit to Maiden Lane II LLC under the authority of section 13(3) of the Federal Reserve Act. This limited liability company was formed to purchase residential mortgage-backed securities from the U.S. securities lending reinvestment portfolio of subsidiaries of American International Group, Inc. (AIG subsidiaries). Payments by Maiden Lane II LLC from the proceeds of the net portfolio holdings will be made in the following order: operating expenses of Maiden Lane II LLC, principal due to the FRBNY, interest due to the FRBNY, and deferred payment and interest due to AIG subsidiaries. Any remaining funds will be shared by the FRBNY and AIG subsidiaries. 6. Information on Principal Accounts of Maiden Lane III LLC Millions of dollars Wednesday Account name Apr 1, 2009 Net portfolio holdings of Maiden Lane III LLC (1) 27,661 Outstanding principal amount of loan extended by the Federal Reserve Bank of New York (2) 24,036 Accrued interest payable to the Federal Reserve Bank of New York (2) 133 Outstanding principal amount and accrued interest on loan payable to American International Group, Inc. (3) 5,066 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 10. 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 9 and table 10. Note: On November 25, 2008, the Federal Reserve Bank of New York (FRBNY) began extending credit to Maiden Lane III LLC under the authority of section 13(3) of the Federal Reserve Act. This limited liability company was formed to purchase multi-sector collateralized debt obligations (CDOs) on which the Financial Products group of American International Group, Inc. (AIG) has written credit default swap (CDS) contracts. In connection with the purchase of CDOs, the CDS counterparties will concurrently unwind the related CDS transactions. Payments by Maiden Lane III LLC from the proceeds of the net portfolio holdings will be made in the following order: operating expenses of Maiden Lane III LLC, principal due to the FRBNY, interest due to the FRBNY, principal due to AIG, and interest due to AIG. Any remaining funds will be shared by the FRBNY and AIG. 7. Information on Principal Accounts of Commercial Paper Funding Facility LLC Millions of dollars Wednesday Account name Apr 1, 2009 Commercial paper holdings, net (1) 247,112 Other investments, net 2,620 Net portfolio holdings of Commercial Paper Funding Facility LLC 249,731 Memorandum: Commercial paper holdings, face value 248,196 Outstanding principal amount of loan extended by the Federal Reserve Bank of New York (2) 246,833 Accrued interest payable to the Federal Reserve Bank of New York (2) 88 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 10. 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. 8. Information on Principal Accounts of LLCs Funded through the Money Market Investor Funding Facility Millions of dollars Wednesday Account name Apr 1, 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 10. 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. 9. Consolidated Statement of Condition of All Federal Reserve Banks Millions of dollars Eliminations Change since from Wednesday Wednesday Wednesday Assets, liabilities, and capital consolidation Apr 1, 2009 Mar 25, 2009 Apr 2, 2008 Assets Gold certificate account 11,037 0 0 Special drawing rights certificate account 2,200 0 0 Coin 1,837 + 5 + 497 Securities, repurchase agreements, term auction credit, and other loans 1,382,945 + 16,833 + 580,909 Securities held outright 782,583 + 21,288 + 201,343 U.S. Treasury securities (1) 492,330 + 17,584 - 88,910 Bills (2) 18,423 0 - 74,562 Notes and bonds, nominal (2) 430,454 + 17,540 - 14,596 Notes and bonds, inflation-indexed (2) 39,378 0 + 941 Inflation compensation (3) 4,076 + 44 - 693 Federal agency debt securities (2) 53,616 + 3,223 + 53,616 Mortgage-backed securities (4) 236,637 + 481 + 236,637 Repurchase agreements (5) 0 0 - 76,000 Term auction credit 467,278 - 1,311 + 367,278 Other loans 133,084 - 3,143 + 88,288 Net portfolio holdings of Commercial Paper Funding Facility LLC (6) 249,731 + 8,420 + 249,731 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) 26,336 + 48 + 26,336 Net portfolio holdings of Maiden Lane II LLC (9) 18,516 + 67 + 18,516 Net portfolio holdings of Maiden Lane III LLC (10) 27,661 + 16 + 27,661 Items in process of collection (475) 485 + 17 - 4,248 Bank premises 2,183 - 4 + 38 Central bank liquidity swaps (11) 308,792 - 18,986 + 287,792 Other assets (12) 48,692 + 773 + 7,780 Total assets (475) 2,080,415 + 7,188 +1,195,012 Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table. 9. 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 Apr 1, 2009 Mar 25, 2009 Apr 2, 2008 Liabilities Federal Reserve notes, net of F.R. Bank holdings 864,517 + 1,423 + 84,957 Reverse repurchase agreements (13) 67,906 + 1,479 + 26,845 Deposits (0) 1,089,916 + 4,656 +1,072,076 Depository institutions 837,463 + 15,051 + 826,046 U.S. Treasury, general account 37,754 - 18,444 + 31,741 U.S. Treasury, supplementary financing account 199,934 - 1 + 199,934 Foreign official 846 - 741 + 748 Other (0) 13,919 + 8,791 + 13,607 Deferred availability cash items (475) 3,268 + 407 + 8 Other liabilities and accrued dividends (14) 9,268 - 134 + 5,532 Total liabilities (475) 2,034,874 + 7,829 +1,189,417 Capital accounts Capital paid in 22,560 + 4 + 3,012 Surplus 21,156 + 8 + 2,685 Other capital accounts 1,824 - 654 - 103 Total capital 45,540 - 642 + 5,594 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 7 and the note on consolidation accompanying table 10. 7. Refer to table 8 and the note on consolidation accompanying table 10. 8. Refer to table 4 and the note on consolidation accompanying table 10. 9. Refer to table 5 and the note on consolidation accompanying table 10. 10. Refer to table 6 and the note on consolidation accompanying table 10. 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 4 through table 8 and the note on consolidation accompanying table 10. 10. Statement of Condition of Each Federal Reserve Bank, April 1, 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 1,837 66 79 158 149 251 212 220 43 63 125 180 290 Securities, repurchase agreements, term auction credit, and other loans 1,382,945 62,256 639,301 76,798 40,455 154,960 86,614 77,338 31,390 15,759 31,090 39,077 127,906 Securities held outright 782,583 32,824 278,438 34,169 29,675 70,963 77,866 69,070 27,043 14,774 28,735 32,462 86,562 U.S. Treasury securities (1) 492,330 20,650 175,168 21,496 18,669 44,644 48,986 43,453 17,013 9,295 18,077 20,422 54,457 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) 473,907 19,877 168,613 20,691 17,970 42,973 47,153 41,827 16,377 8,947 17,401 19,658 52,419 Federal agency debt securities (2) 53,616 2,249 19,076 2,341 2,033 4,862 5,335 4,732 1,853 1,012 1,969 2,224 5,931 Mortgage-backed securities (4) 236,637 9,925 84,194 10,332 8,973 21,458 23,545 20,885 8,177 4,467 8,689 9,816 26,175 Repurchase agreements (5) 0 0 0 0 0 0 0 0 0 0 0 0 0 Term auction credit 467,278 23,022 238,947 42,573 10,766 83,563 8,483 6,474 4,238 749 2,331 6,275 39,859 Other loans 133,084 6,409 121,916 56 14 434 266 1,793 109 236 25 340 1,486 Net portfolio holdings of Commercial Paper Funding Facility LLC (6) 249,731 0 249,731 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) 26,336 0 26,336 0 0 0 0 0 0 0 0 0 0 Net portfolio holdings of Maiden Lane II LLC (9) 18,516 0 18,516 0 0 0 0 0 0 0 0 0 0 Net portfolio holdings of Maiden Lane III LLC (10) 27,661 0 27,661 0 0 0 0 0 0 0 0 0 0 Items in process of collection 960 58 0 268 180 55 -185 112 36 63 42 214 117 Bank premises 2,183 122 209 65 146 233 223 207 133 112 272 249 212 Central bank liquidity swaps (11) 308,792 12,302 83,391 33,734 22,617 87,141 23,485 10,251 3,055 4,727 3,030 3,949 21,111 Other assets (12) 48,692 2,007 15,105 3,740 2,683 9,088 4,305 2,939 1,105 847 1,155 1,358 4,359 Interdistrict settlement account 0 + 5,071 - 72,366 - 53,236 + 12,497 - 7,680 + 25,021 + 13,587 - 751 + 1,147 + 17,513 + 17,792 + 41,405 Total assets 2,080,889 82,421 992,772 62,064 79,253 245,087 141,063 105,777 35,427 22,947 53,641 63,553 196,884 Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table. 10. Statement of Condition of Each Federal Reserve Bank, April 1, 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 1,044,273 37,248 368,057 40,411 45,572 79,207 132,730 87,911 30,013 20,022 29,191 62,922 110,990 Less: Notes held by F.R. Banks 179,756 5,276 56,443 4,723 7,569 11,820 28,565 13,126 3,670 2,826 3,299 17,378 25,060 Federal Reserve notes, net 864,517 31,971 311,613 35,688 38,003 67,387 104,165 74,785 26,342 17,196 25,892 45,545 85,929 Reverse repurchase agreements (13) 67,906 2,848 24,161 2,965 2,575 6,158 6,757 5,993 2,347 1,282 2,493 2,817 7,511 Deposits 1,089,916 45,490 637,091 17,861 34,860 158,551 26,105 22,749 6,073 3,139 24,520 14,186 99,290 Depository institutions 837,463 45,483 384,827 17,856 34,856 158,398 26,100 22,748 6,068 3,138 24,518 14,185 99,285 U.S. Treasury, general account 37,754 0 37,754 0 0 0 0 0 0 0 0 0 0 U.S. Treasury, supplementary financing account 199,934 0 199,934 0 0 0 0 0 0 0 0 0 0 Foreign official 846 2 816 4 3 11 3 1 0 1 0 1 3 Other 13,919 5 13,760 1 0 142 2 0 5 0 1 0 2 Deferred availability cash items 3,742 126 1 616 474 238 348 383 64 354 173 247 717 Other liabilities and accrued dividends (14) 9,268 161 6,714 195 187 497 358 289 154 107 121 169 316 Total liabilities 2,035,349 80,597 979,581 57,325 76,099 232,831 137,733 104,199 34,980 22,078 53,199 62,964 193,764 Capital Capital paid in 22,560 909 6,363 2,380 1,587 6,162 1,645 769 217 485 214 286 1,545 Surplus 21,156 844 5,687 2,315 1,552 5,981 1,612 704 210 324 208 271 1,449 Other capital 1,824 72 1,142 44 15 113 74 106 21 59 21 32 127 Total liabilities and capital 2,080,889 82,421 992,772 62,064 79,253 245,087 141,063 105,777 35,427 22,947 53,641 63,553 196,884 Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table. 10. Statement of Condition of Each Federal Reserve Bank, April 1, 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 7 and the note on consolidation below. 7. Refer to table 8 and the note on consolidation below. 8. Refer to table 4 and the note on consolidation below. 9. Refer to table 5 and the note on consolidation below. 10. Refer to table 6 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 4 through table 8 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 9), 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 9). 11. Collateral Held against Federal Reserve Notes: Federal Reserve Agents' Accounts Millions of dollars Federal Reserve notes and collateral Wednesday Apr 1, 2009 Federal Reserve notes outstanding 1,044,273 Less: Notes held by F.R. Banks not subject to collateralization 179,756 Federal Reserve notes to be collateralized 864,517 Collateral held against Federal Reserve notes 864,517 Gold certificate account 11,037 Special drawing rights certificate account 2,200 U.S. Treasury, agency debt, and mortgage-backed securities pledged (1,2) 721,161 Other assets pledged 130,119 Memo: Total U.S. Treasury, agency debt, and mortgage-backed securities (1,2) 782,583 Less: Face value of securities under reverse repurchase agreements 61,422 U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 721,161 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 and term securities lending facilities; refer to table 1A.