Federal Reserve Statistical Release, H.4.1, Factors Affecting Reserve Balances; title with eagle logo links to Statistical Release home page
Release Date:   November 26, 2010
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FEDERAL RESERVE statistical release

H.4.1

Factors Affecting Reserve Balances of Depository Institutions and
Condition Statement of Federal Reserve Banks

November 26, 2010
1. Factors Affecting Reserve Balances of Depository Institutions
Millions of dollars
Reserve Bank credit, related items, and
reserve balances of depository institutions at
Federal Reserve Banks		 Averages of daily figures Wednesday
Nov 24, 2010
Week ended
Nov 24, 2010		 Change from week ended
Nov 17, 2010 Nov 25, 2009
Reserve Bank credit 2,317,457 + 24,277 + 127,469 2,328,427
    Securities held outright 1 2,078,354 + 24,218 + 293,325 2,087,219
        U.S. Treasury securities 891,518 + 32,338 + 114,986 901,238
            Bills 2 18,423 0 0 18,423
            Notes and bonds, nominal 2 823,956 + 31,920 + 116,307 832,126
            Notes and bonds, inflation-indexed 2 43,479 + 386 - 1,164 44,876
            Inflation compensation 3 5,660 + 32 - 158 5,814
        Federal agency debt securities 2 148,761 - 626 - 4,864 148,178
        Mortgage-backed securities 4 1,038,075 - 7,494 + 183,203 1,037,803
    Repurchase agreements 5 0 0 0 0
    Term auction credit 0 0 - 101,009 0
    Other loans 46,332 - 233 - 62,152 46,685
        Primary credit 158 + 133 - 19,774 1,039
        Secondary credit 0 0 0 0
        Seasonal credit 23 + 3 - 46 26
        Asset-Backed Commercial Paper Money Market
            Mutual Fund Liquidity Facility		 0 0 0 0
        Credit extended to American International
            Group, Inc., net 6		 19,989 + 338 - 24,954 19,916
        Term Asset-Backed Securities Loan Facility 7 26,161 - 709 - 17,378 25,703
        Other credit extensions 0 0 0 0
    Net portfolio holdings of Commercial Paper
        Funding Facility LLC 8		 0 0 - 15,042 0
    Net portfolio holdings of Maiden Lane LLC 9 27,531 - 561 + 1,181 27,550
    Net portfolio holdings of Maiden Lane II LLC 10 16,286 + 5 + 509 16,291
    Net portfolio holdings of Maiden Lane III LLC 11 23,340 + 16 + 388 23,344
    Net portfolio holdings of TALF LLC 12 644 + 22 + 378 647
    Preferred interests in AIA Aurora LLC and ALICO
        Holdings LLC 13		 26,057 0 + 26,057 26,057
    Float -1,609 + 324 - 9 -1,832
    Central bank liquidity swaps 14 60 - 4 - 25,751 60
    Other Federal Reserve assets 15 100,464 + 491 + 9,597 102,406
Gold stock 11,041 0 0 11,041
Special drawing rights certificate account 5,200 0 0 5,200
Treasury currency outstanding 16 43,511 + 14 + 887 43,511
 
Total factors supplying reserve funds 2,377,209 + 24,291 + 128,356 2,388,179
Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table.


1. Factors Affecting Reserve Balances of Depository Institutions (continued)
Millions of dollars
Reserve Bank credit, related items, and
reserve balances of depository institutions at
Federal Reserve Banks		 Averages of daily figures Wednesday
Nov 24, 2010
Week ended
Nov 24, 2010		 Change from week ended
Nov 17, 2010 Nov 25, 2009
Currency in circulation 16 974,331 + 774 + 54,394 978,562
Reverse repurchase agreements 17 56,878 + 2,133 - 1,247 54,709
    Foreign official and international accounts 56,878 + 2,133 - 1,247 54,709
    Others 0 0 0 0
Treasury cash holdings 193 + 25 - 40 197
Deposits with F.R. Banks, other than reserve balances 234,891 - 6,103 + 186,006 229,800
    Term deposits held by depository institutions 0 0 0 0
    U.S. Treasury, general account 29,391 + 7,604 + 3,487 24,037
    U.S. Treasury, supplementary financing account 199,960 + 1 + 184,961 199,960
    Foreign official 2,771 + 1,119 - 392 3,010
    Service-related 2,366 0 - 670 2,366
        Required clearing balances 2,366 0 - 670 2,366
        Adjustments to compensate for float 0 0 0 0
    Other 403 - 14,827 - 1,379 427
Funds from American International Group, Inc. asset
    dispositions, held as agent 18		 26,774 + 13 + 26,774 26,774
Other liabilities and capital 19 73,051 + 146 + 7,643 72,627
 
Total factors, other than reserve balances,
    absorbing reserve funds		 1,366,118 - 3,012 + 273,530 1,362,670
 
Reserve balances with Federal Reserve Banks 1,011,091 + 27,303 - 145,174 1,025,509
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 outstanding principal and capitalized interest net of unamortized deferred commitment fees and allowance for loan restructuring. Excludes credit extended to consolidated LLCs.
7. 
Includes credit extended by the Federal Reserve Bank of New York to eligible borrowers through the Term Asset-Backed Securities Loan Facility.
8. 
Includes the book value of the commercial paper, net of amortized costs and related fees, and other investments held by the Commercial Paper Funding Facility LLC.
9. 
Refer to table 4 and the note on consolidation accompanying table 10.
10. 
Refer to table 5 and the note on consolidation accompanying table 10.
11. 
Refer to table 6 and the note on consolidation accompanying table 10.
12. 
Refer to table 7 and the note on consolidation accompanying table 10.
13. 
Refer to table 8.
14. 
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.
15. 
Includes other assets denominated in foreign currencies, which are revalued daily at market exchange rates, accrued dividends on the Federal Reserve Bank of New York's (FRBNY) preferred interests in AIA Aurora LLC and ALICO Holdings LLC, and the fair value adjustment to credit extended by the FRBNY to eligible borrowers through the Term Asset-Backed Securities Loan Facility.
16. 
Estimated.
17. 
Cash value of agreements, which are collateralized by U.S. Treasury securities, federal agency debt securities, and mortgage-backed securities.
18. 
Pending the closing of the recapitalization plan announced by American International Group, Inc. (AIG) on September 30, 2010, the cash proceeds from the disposition of certain AIG assets will be held by the FRBNY as agent. At the closing of the recapitalization plan, the proceeds will be used first to repay in full the credit extended to AIG by the FRBNY under the revolving credit facility and then to retire a portion of the FRBNY's preferred interests in AIA Aurora LLC and ALICO Holdings LLC (preferred interests). Alternatively, if the recapitalization plan is terminated under the terms of the plan, then the proceeds from the initial public offering of AIA and the sale of ALICO will be used to redeem the preferred interests in accordance with the AIA Aurora LLC and ALICO Holdings LLC limited liability company agreements, and any excess proceeds from these transactions, as well as proceeds from the disposition of other assets, will be used to repay the credit extended to AIG under the revolving credit facility.
19. 
Includes the liabilities of Maiden Lane LLC, Maiden Lane II LLC, Maiden Lane III LLC, and TALF LLC to entities other than the Federal Reserve Bank of New York, including liabilities that have recourse only to the portfolio holdings of these LLCs. Refer to table 4 through table 7 and the note on consolidation accompanying table 10.

Sources: Federal Reserve Banks and the U.S. Department of the Treasury.


1A. Memorandum Items
Millions of dollars
Memorandum item Averages of daily figures Wednesday
Nov 24, 2010
Week ended
Nov 24, 2010		 Change from week ended
Nov 17, 2010 Nov 25, 2009
Marketable securities held in custody for foreign
    official and international accounts 1		 3,341,417 + 504 + 416,116 3,336,459
    U.S. Treasury securities 2,608,311 - 2,250 + 449,946 2,602,096
    Federal agency securities 2 733,106 + 2,754 - 33,831 734,363
Securities lent to dealers 8,471 + 3,504 + 2,310 7,426
    Overnight facility 3 8,471 + 3,504 + 2,310 7,426
        U.S. Treasury securities 7,500 + 3,842 + 2,390 6,363
        Federal agency debt securities 971 - 338 - 79 1,063
    Term facility 4 0 0 0 0
Note: Components may not sum to totals because of rounding.


1. 
Face value of the securities. Includes U.S. Treasury STRIPS and other zero-coupon bonds at face value and mortgage-backed securities at original face value.
2. 
Includes debt and mortgage-backed securities.
3. 
Fully collateralized by U.S. Treasury securities.
4. 
U.S. Treasury securities only. Fully collateralized by U.S. Treasury securities, federal agency securities, and other highly rated debt securities.

2. Maturity Distribution of Securities, Loans, and Selected Other Assets and Liabilities, November 24, 2010
Millions of dollars
Remaining maturity Within 15
days		 16 days to
90 days		 91 days to
1 year		 Over 1 year
to 5 years		 Over 5 years
to 10 years		 Over 10
years		 All
Other loans 1 1,065 0 0 45,619 0 ... 46,685
U.S. Treasury securities 2  
    Holdings 16,386 17,188 54,509 387,219 276,741 149,195 901,238
    Weekly changes - 3,520 + 3,520 0 + 7,974 + 17,536 + 2,109 + 27,620
Federal agency debt securities 3  
    Holdings 0 4,059 38,210 72,965 30,597 2,347 148,178
    Weekly changes - 816 + 246 + 1,342 - 1,588 0 0 - 816
Mortgage-backed securities 4  
    Holdings 0 0 0 26 21 1,037,756 1,037,803
    Weekly changes 0 0 0 0 0 - 475 - 475
Asset-backed securities held by
    TALF LLC 5		 0 0 0 0 0 0 0
Repurchase agreements 6 0 0 ... ... ... ... 0
Central bank liquidity swaps 7 60 0 0 0 0 0 60
   
Reverse repurchase agreements 6 54,709 0 ... ... ... ... 54,709
Term deposits 0 0 0 ... ... ... 0
Note: Components may not sum to totals because of rounding.

. . . Not applicable.


1. 
Excludes the loans from the Federal Reserve Bank of New York (FRBNY) to Maiden Lane LLC, Maiden Lane II LLC, Maiden Lane III LLC, and TALF LLC. The loans were eliminated when preparing the FRBNY's statement of condition consistent with consolidation under generally accepted accounting principles.
2. 
Face value. For inflation-indexed securities, includes the original face value and compensation that adjusts for the effect of inflation on the original face value of such securities.
3. 
Face value.
4. 
Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. Current face value of the securities, which is the remaining principal balance of the underlying mortgages.
5. 
Face value of asset-backed securities held by TALF LLC, which is the remaining principal balance of the underlying assets.
6. 
Cash value of agreements.
7. 
Dollar value of foreign currency held under these agreements valued at the exchange rate to be used when the foreign currency is returned to the foreign central bank. This exchange rate equals the market exchange rate used when the foreign currency was acquired from the foreign central bank.

3. Supplemental Information on Mortgage-Backed Securities Purchase Program
Millions of dollars
Account name Wednesday
Nov 24, 2010
Mortgage-backed securities held outright 1 1,037,803
 
Commitments to buy mortgage-backed securities 2 0
Commitments to sell mortgage-backed securities 2 0
 
Cash and cash equivalents 3 0
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, dollar rolls, and coupon swaps.
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
Account name Wednesday
Nov 24, 2010
Net portfolio holdings of Maiden Lane LLC 1 27,550
 
Outstanding principal amount of loan extended by the Federal Reserve Bank of New York 2 25,975
Accrued interest payable to the Federal Reserve Bank of New York 2 598
Outstanding principal amount and accrued interest on loan payable to JPMorgan Chase & Co. 3 1,308
1. 
Fair value. Fair value reflects an estimate of the price that would be received upon selling an asset if the transaction were to be conducted in an orderly market on the measurement date. Revalued quarterly. This table reflects valuations as of September 30, 2010. 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
Account name Wednesday
Nov 24, 2010
Net portfolio holdings of Maiden Lane II LLC 1 16,291
 
Outstanding principal amount of loan extended by the Federal Reserve Bank of New York 2 13,254
Accrued interest payable to the Federal Reserve Bank of New York 2 435
Deferred payment and accrued interest payable to subsidiaries of American International Group, Inc. 3 1,068
1. 
Fair value. Fair value reflects an estimate of the price that would be received upon selling an asset if the transaction were to be conducted in an orderly market on the measurement date. Revalued quarterly. This table reflects valuations as of September 30, 2010. 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
Account name Wednesday
Nov 24, 2010
Net portfolio holdings of Maiden Lane III LLC 1 23,344
 
Outstanding principal amount of loan extended by the Federal Reserve Bank of New York 2 13,922
Accrued interest payable to the Federal Reserve Bank of New York 2 528
Outstanding principal amount and accrued interest on loan payable to American International Group, Inc. 3 5,348
1. 
Fair value. Fair value reflects an estimate of the price that would be received upon selling an asset if the transaction were to be conducted in an orderly market on the measurement date. Revalued quarterly. This table reflects valuations as of September 30, 2010. 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 TALF LLC
Millions of dollars
Account name Wednesday
Nov 24, 2010
Asset-backed securities holdings 1 0
Other investments, net 647
Net portfolio holdings of TALF LLC 647
 
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
Funding provided by U.S. Treasury to TALF LLC, including accrued interest payable 3 106
1. 
Fair value. Fair value reflects an estimate of the price that would be received upon selling an asset if the transaction were to be conducted in an orderly market on the measurement date.
2. 
Book value. This amount was eliminated when preparing the Federal Reserve Bank of New York's statement of condition consistent with consolidation under generally accepted accounting principles. Refer to the note on consolidation accompanying table 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 announced the creation of the Term Asset-Backed Securities Loan Facility (TALF) under the authority of section 13(3) of the Federal Reserve Act. The TALF is a facility under which the Federal Reserve Bank of New York (FRBNY) extends loans with a term of up to five years to holders of eligible asset-backed securities. The TALF is intended to assist financial markets in accommodating the credit needs of consumers and businesses by facilitating the issuance of asset-backed securities collateralized by a variety of consumer and business loans. The loans provided through the TALF to eligible borrowers are non-recourse, meaning that the obligation of the borrower can be discharged by surrendering the collateral to the FRBNY. The loans are extended for the market value of the security less an amount known as a haircut. As a result, the borrower bears the initial risk of a decline in the value of the security.


TALF LLC is a limited liability company formed to purchase and manage any asset-backed securities received by the FRBNY in connection with the decision of a borrower not to repay a TALF loan. TALF LLC has committed, for a fee, to purchase all asset-backed securities received by the FRBNY in conjunction with a TALF loan at a price equal to the TALF loan plus accrued but unpaid interest. Losses on asset-backed securities held by TALF LLC will be offset in the following order: by the commitment fees collected by TALF LLC, by the interest received on investments of TALF LLC, by up to $4.3 billion in subordinated debt funding provided by the U.S. Treasury, and finally, by senior debt funding provided by the FRBNY. Payments by TALF LLC from the proceeds of its net portfolio holdings will be made in the following order: operating expenses of TALF LLC, principal due to the FRBNY, principal due to the U.S. Treasury, interest due to the FRBNY, and interest due to the U.S. Treasury. Any remaining funds will be shared by the FRBNY and the U.S. Treasury.


8. Supplemental Information on the Federal Reserve Bank of New York's Preferred Interests in
AIA Aurora LLC and ALICO Holdings LLC
Millions of dollars
Account name Wednesday
Nov 24, 2010
Preferred interests in AIA Aurora LLC and ALICO Holdings LLC 1 26,057
Accrued dividends on preferred interests in AIA Aurora LLC and ALICO Holdings LLC 2 200
 
Preferred interests in AIA Aurora LLC 1 16,676
Accrued dividends on preferred interests in AIA Aurora LLC 2 128
 
Preferred interests in ALICO Holdings LLC 1 9,380
Accrued dividends on preferred interests in ALICO Holdings LLC 2 72
Note: Components may not sum to totals because of rounding.


1. 
Book value.
2. 
This amount is included in other Federal Reserve assets in table 1 and in other assets in table 9 and table 10.

Note on preferred interests:


In conjunction with the restructuring of the government's assistance to American International Group, Inc. (AIG) announced March 2, 2009, the outstanding balance and amount available of revolving credit provided to AIG by the FRBNY has been reduced in exchange for preferred interests in two special purpose vehicles, AIA Aurora LLC and ALICO Holdings LLC. These two limited liability companies were created to directly or indirectly hold all of the outstanding common stock of American International Assurance Company Ltd. (AIA) and American Life Insurance Company (ALICO), two life insurance subsidiaries of AIG. AIG will retain control of AIA Aurora LLC and ALICO Holdings LLC, and the FRBNY will have certain consent, disposition, and conversion rights with respect to its preferred interests.


Dividends accrue as a percentage of the FRBNY's preferred interests in AIA Aurora LLC and ALICO Holdings LLC. On a quarterly basis, the accrued dividends are capitalized and added to the FRBNY's preferred interests in AIA Aurora LLC and ALICO Holdings LLC.


9. Consolidated Statement of Condition of All Federal Reserve Banks
Millions of dollars
Assets, liabilities, and capital Eliminations from
consolidation		 Wednesday
Nov 24, 2010		 Change since
Wednesday
Nov 17, 2010		 Wednesday
Nov 25, 2009
Assets  
    Gold certificate account   11,037 0 0
    Special drawing rights certificate account   5,200 0 0
    Coin   2,091 - 33 + 75
    Securities, repurchase agreements, term auction
        credit, and other loans		   2,133,903 + 26,010 + 139,590
        Securities held outright 1   2,087,219 + 26,329 + 303,493
            U.S. Treasury securities   901,238 + 27,620 + 124,703
                Bills 2   18,423 0 0
                Notes and bonds, nominal 2   832,126 + 25,808 + 124,477
                Notes and bonds, inflation-indexed 2   44,876 + 1,629 + 233
                Inflation compensation 3   5,814 + 183 - 7
            Federal agency debt securities 2   148,178 - 816 - 6,888
            Mortgage-backed securities 4   1,037,803 - 475 + 185,679
        Repurchase agreements 5   0 0 0
        Term auction credit   0 0 - 101,009
        Other loans   46,685 - 318 - 62,893
    Net portfolio holdings of Commercial Paper
        Funding Facility LLC 6		   0 0 - 15,046
    Net portfolio holdings of Maiden Lane LLC 7   27,550 + 22 + 1,189
    Net portfolio holdings of Maiden Lane II LLC 8   16,291 + 6 + 446
    Net portfolio holdings of Maiden Lane III LLC 9   23,344 + 5 + 383
    Net portfolio holdings of TALF LLC 10   647 + 25 + 381
    Preferred interests in AIA Aurora LLC and ALICO
        Holdings LLC 11		   26,057 0 + 26,057
    Items in process of collection (96) 243 - 106 - 396
    Bank premises   2,226 + 1 0
    Central bank liquidity swaps 12   60 - 5 - 25,751
    Other assets 13   100,138 + 5,147 + 12,291
 
Total assets (96) 2,348,788 + 31,072 + 139,221
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
Assets, liabilities, and capital Eliminations from
consolidation		 Wednesday
Nov 24, 2010		 Change since
Wednesday
Nov 17, 2010		 Wednesday
Nov 25, 2009
Liabilities  
    Federal Reserve notes, net of F.R. Bank holdings   937,336 + 4,959 + 54,302
    Reverse repurchase agreements 14   54,709 + 510 - 3,774
    Deposits (0) 1,255,266 + 25,607 + 54,531
        Term deposits held by depository institutions   0 0 0
        Other deposits held by depository institutions   1,027,832 + 38,966 - 140,738
        U.S. Treasury, general account   24,037 - 14,668 + 11,040
        U.S. Treasury, supplementary financing account   199,960 + 1 + 184,961
        Foreign official   3,010 + 1,269 + 884
        Other (0) 427 + 40 - 1,615
    Deferred availability cash items (96) 2,076 - 233 - 205
    Other liabilities and accrued dividends 15   42,638 - 222 + 30,418
 
Total liabilities (96) 2,292,025 + 30,621 + 135,271
 
Capital accounts  
    Capital paid in   26,792 + 53 + 1,369
    Surplus   25,921 + 6 + 4,481
    Other capital accounts   4,050 + 392 - 1,901
 
Total capital   56,763 + 451 + 3,949
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. 
Includes the book value of the commercial paper, net of amortized costs and related fees, and other investments held by the Commercial Paper Funding Facility LLC.
7. 
Refer to table 4 and the note on consolidation accompanying table 10.
8. 
Refer to table 5 and the note on consolidation accompanying table 10.
9. 
Refer to table 6 and the note on consolidation accompanying table 10.
10. 
Refer to table 7 and the note on consolidation accompanying table 10.
11. 
Refer to table 8.
12. 
Dollar value of foreign currency held under these agreements valued at the exchange rate to be used when the foreign currency is returned to the foreign central bank. This exchange rate equals the market exchange rate used when the foreign currency was acquired from the foreign central bank.
13. 
Includes other assets denominated in foreign currencies, which are revalued daily at market exchange rates, accrued dividends on the Federal Reserve Bank of New York's (FRBNY) preferred interests in AIA Aurora LLC and ALICO Holdings LLC, and the fair value adjustment to credit extended by the FRBNY to eligible borrowers through the Term Asset-Backed Securities Loan Facility.
14. 
Cash value of agreements, which are collateralized by U.S. Treasury securities, federal agency debt securities, and mortgage-backed securities.
15. 
Includes the liabilities of Maiden Lane LLC, Maiden Lane II LLC, Maiden Lane III LLC, and TALF LLC to entities other than the Federal Reserve Bank of New York, including liabilities that have recourse only to the portfolio holdings of these LLCs. Refer to table 4 through table 7 and the note on consolidation accompanying table 10. Also includes funds from American International Group, Inc. asset dispositions, held as agent.


10. Statement of Condition of Each Federal Reserve Bank, November 24, 2010
Millions of dollars
Assets, liabilities, and capital Total Boston New York Philadelphia Cleveland Richmond Atlanta Chicago St. Louis Minneapolis Kansas
City		 Dallas San
Francisco
Assets  
    Gold certificate account 11,037 369 4,038 404 463 846 1,385 887 324 203 296 652 1,170
    Special drawing rights certificate acct. 5,200 196 1,818 210 237 412 654 424 150 90 153 282 574
    Coin 2,091 59 70 167 154 329 180 325 30 57 151 224 344
    Securities, repurchase agreements,
        term auction credit, and other
        loans		 2,133,903 52,830 897,315 48,745 70,915 237,712 197,509 157,362 54,780 28,587 71,606 87,646 228,897
        Securities held outright 1 2,087,219 52,821 851,696 48,743 70,915 237,712 197,509 157,348 53,763 28,574 71,600 87,643 228,897
            U.S. Treasury securities 901,238 22,807 367,753 21,047 30,620 102,641 85,282 67,941 23,214 12,338 30,916 37,843 98,835
                Bills 2 18,423 466 7,517 430 626 2,098 1,743 1,389 475 252 632 774 2,020
                Notes and bonds 3 882,815 22,341 360,235 20,616 29,994 100,543 83,539 66,552 22,740 12,086 30,284 37,070 96,815
            Federal agency debt securities 2 148,178 3,750 60,464 3,460 5,034 16,876 14,022 11,171 3,817 2,029 5,083 6,222 16,250
            Mortgage-backed securities 4 1,037,803 26,263 423,479 24,236 35,260 118,195 98,205 78,236 26,732 14,207 35,601 43,578 113,812
        Repurchase agreements 5 0 0 0 0 0 0 0 0 0 0 0 0 0
        Term auction credit 0 0 0 0 0 0 0 0 0 0 0 0 0
        Other loans 46,685 10 45,619 2 0 0 0 14 1,017 13 6 3 0
    Net portfolio holdings of Commercial
        Paper Funding Facility LLC 6		 0 0 0 0 0 0 0 0 0 0 0 0 0
    Net portfolio holdings of Maiden
        Lane LLC 7		 27,550 0 27,550 0 0 0 0 0 0 0 0 0 0
    Net portfolio holdings of Maiden
        Lane II LLC 8		 16,291 0 16,291 0 0 0 0 0 0 0 0 0 0
    Net portfolio holdings of Maiden
        Lane III LLC 9		 23,344 0 23,344 0 0 0 0 0 0 0 0 0 0
    Net portfolio holdings of TALF LLC 10 647 0 647 0 0 0 0 0 0 0 0 0 0
    Preferred interests in AIA Aurora LLC
        and ALICO Holdings LLC 11		 26,057 0 26,057 0 0 0 0 0 0 0 0 0 0
    Items in process of collection 339 12 0 77 78 8 16 39 15 7 21 34 32
    Bank premises 2,226 128 255 69 141 239 218 210 135 108 265 246 213
    Central bank liquidity swaps 12 60 2 17 7 4 17 4 1 1 2 0 1 4
    Other assets 13 100,138 2,845 37,891 4,669 4,434 15,623 8,580 6,167 2,152 1,753 2,750 3,475 9,798
    Interdistrict settlement account 0 - 3,528 + 150,486 + 22,146 - 15,790 - 34,843 - 41,985 - 30,324 - 15,232 - 3,489 - 12,409 + 45 - 15,078
 
Total assets 2,348,885 52,914 1,185,781 76,494 60,637 220,342 166,561 135,092 42,355 27,316 62,834 92,605 225,954
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, November 24, 2010 (continued)
Millions of dollars
Assets, liabilities, and capital Total Boston New York Philadelphia Cleveland Richmond Atlanta Chicago St. Louis Minneapolis Kansas
City		 Dallas San
Francisco
Liabilities  
    Federal Reserve notes outstanding 1,126,073 41,150 385,631 45,612 45,837 89,618 142,815 86,939 32,599 20,105 33,483 76,246 126,036
        Less: Notes held by F.R. Banks 188,736 4,256 73,213 5,012 7,051 12,961 23,701 11,606 4,287 5,656 3,203 11,028 26,762
            Federal Reserve notes, net 937,336 36,893 312,418 40,600 38,787 76,657 119,114 75,333 28,312 14,449 30,280 65,218 99,274
    Reverse repurchase agreements 14 54,709 1,385 22,324 1,278 1,859 6,231 5,177 4,124 1,409 749 1,877 2,297 6,000
    Deposits 1,255,266 12,471 795,995 28,463 15,318 123,957 38,385 53,622 11,897 9,977 29,883 23,873 111,426
        Term deposits held by depository
            institutions		 0 0 0 0 0 0 0 0 0 0 0 0 0
        Other deposits held by depository
            institutions		 1,027,832 12,447 568,752 28,459 15,315 123,846 38,382 53,604 11,893 9,973 29,881 23,872 111,408
        U.S. Treasury, general account 24,037 0 24,037 0 0 0 0 0 0 0 0 0 0
        U.S. Treasury, supplementary
            financing account		 199,960 0 199,960 0 0 0 0 0 0 0 0 0 0
        Foreign official 3,010 1 2,981 4 3 11 2 1 0 1 0 1 3
        Other 427 22 264 0 1 101 0 16 3 3 1 0 15
    Deferred availability cash items 2,172 74 0 230 518 86 110 151 61 358 106 97 381
    Other liabilities and accrued
        dividends 15		 42,638 195 38,989 249 264 725 500 402 180 143 178 255 557
 
Total liabilities 2,292,121 51,018 1,169,727 70,820 56,745 207,657 163,285 133,632 41,859 25,677 62,324 91,740 217,638
 
Capital  
    Capital paid in 26,792 916 7,678 2,863 1,928 5,439 1,555 671 214 819 227 400 4,080
    Surplus 25,921 946 7,715 2,804 1,911 7,141 1,581 621 239 712 210 353 1,688
    Other capital 4,050 34 660 6 53 104 140 168 43 109 73 112 2,549
 
Total liabilities and capital 2,348,885 52,914 1,185,781 76,494 60,637 220,342 166,561 135,092 42,355 27,316 62,834 92,605 225,954
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, November 24, 2010 (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. 
Includes the book value of the commercial paper, net of amortized costs and related fees, and other investments held by the Commercial Paper Funding Facility LLC.
7. 
Refer to table 4 and the note on consolidation below.
8. 
Refer to table 5 and the note on consolidation below.
9. 
Refer to table 6 and the note on consolidation below.
10. 
Refer to table 7 and the note on consolidation below.
11. 
Refer to table 8.
12. 
Dollar value of foreign currency held under these agreements valued at the exchange rate to be used when the foreign currency is returned to the foreign central bank. This exchange rate equals the market exchange rate used when the foreign currency was acquired from the foreign central bank.
13. 
Includes other assets denominated in foreign currencies, which are revalued daily at market exchange rates, accrued dividends on the Federal Reserve Bank of New York's (FRBNY) preferred interests in AIA Aurora LLC and ALICO Holdings LLC, and the fair value adjustment to credit extended by the FRBNY to eligible borrowers through the Term Asset-Backed Securities Loan Facility.
14. 
Cash value of agreements, which are collateralized by U.S. Treasury securities, federal agency debt securities, and mortgage-backed securities.
15. 
Includes the liabilities of Maiden Lane LLC, Maiden Lane II LLC, Maiden Lane III LLC, and TALF LLC to entities other than the Federal Reserve Bank of New York, including liabilities that have recourse only to the portfolio holdings of these LLCs. Refer to table 4 through table 7 and the note on consolidation below. Also includes funds from American International Group, Inc. asset dispositions, held as agent.


Note on consolidation:


The Federal Reserve Bank of New York (FRBNY) has extended loans to several limited liability companies under the authority of section 13(3) of the Federal Reserve Act. On June 26, 2008, a loan was extended to Maiden Lane LLC, which was formed to acquire certain assets of Bear Stearns. On November 25, 2008, a loan was extended to Maiden Lane III LLC, which was formed to purchase multi-sector collateralized debt obligations on which the Financial Products group of the American International Group, Inc. has written credit default swap contracts. On December 12, 2008, a loan was extended to Maiden Lane II LLC, which was formed to purchase residential mortgage-backed securities from the U.S. securities lending reinvestment portfolio of subsidiaries of American International Group, Inc. On November 25, 2008, the Federal Reserve Board authorized the FRBNY to extend credit to TALF LLC, which was formed to purchase and manage any asset-backed securities received by the FRBNY in connection with the decision of a borrower not to repay a loan extended under the Term Asset-Backed Securities Loan Facility.


The FRBNY is the primary beneficiary of TALF LLC, because of the two beneficiaries of the LLC, the FRBNY and the U.S. Treasury, the FRBNY is primarily responsible for directing the financial activities of TALF LLC. The FRBNY is the primary beneficiary of the other LLCs cited above because it will receive a majority of any residual returns of the LLCs and absorb a majority of any residual losses of the LLCs. Consistent with generally accepted accounting principles, the assets and liabilities of these LLCs have been consolidated with the assets and liabilities of the FRBNY in the preparation of the statements of condition shown on this release. As a consequence of the consolidation, the extensions of credit from the FRBNY to the LLCs are eliminated, the net assets of the LLCs appear as assets on the previous page (and in table 1 and table 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
Nov 24, 2010
Federal Reserve notes outstanding 1,126,073
    Less: Notes held by F.R. Banks not subject to collateralization 188,736
        Federal Reserve notes to be collateralized 937,336
Collateral held against Federal Reserve notes 937,336
    Gold certificate account 11,037
    Special drawing rights certificate account 5,200
    U.S. Treasury, agency debt, and mortgage-backed securities pledged 1,2 921,099
    Other assets pledged 0
Memo:  
Total U.S. Treasury, agency debt, and mortgage-backed securities 1,2 2,087,219
    Less: Face value of securities under reverse repurchase agreements 48,877
        U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 2,038,342
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.

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Last update: November 26, 2010