Federal Reserve Statistical Release, H.4.1, Factors Affecting Reserve Balances; title with eagle logo links to Statistical Release home page
Release Date:   February 2, 2012
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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

February 2, 2012
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
Feb 1, 2012
Week ended
Feb 1, 2012		 Change from week ended
Jan 25, 2012 Feb 2, 2011
Reserve Bank credit 2,905,676 + 393 + 467,190 2,907,408
    Securities held outright 1 2,598,967 - 2,824 + 363,800 2,599,969
        U.S. Treasury securities 1,661,622 + 7,707 + 536,156 1,662,459
            Bills 2 18,423 0 0 18,423
            Notes and bonds, nominal 2 1,565,260 + 7,642 + 515,015 1,565,905
            Notes and bonds, inflation-indexed 2 68,499 + 81 + 17,769 68,700
            Inflation compensation 3 9,441 - 15 + 3,373 9,431
        Federal agency debt securities 2 101,498 0 - 43,126 101,498
        Mortgage-backed securities 4 835,847 - 10,530 - 129,230 836,012
    Repurchase agreements 5 0 0 0 0
    Loans 8,187 - 248 - 14,738 8,142
        Primary credit 44 + 39 - 7 10
        Secondary credit 0 0 0 0
        Seasonal credit 4 - 2 - 2 2
        Credit extended to American International
            Group, Inc., net 6		 0 0 0 0
        Term Asset-Backed Securities Loan Facility 7 8,139 - 284 - 14,729 8,130
        Other credit extensions 0 0 0 0
    Net portfolio holdings of Maiden Lane LLC 8 6,953 - 48 - 19,494 6,967
    Net portfolio holdings of Maiden Lane II LLC 9 9,508 + 307 - 6,499 9,508
    Net portfolio holdings of Maiden Lane III LLC 10 17,720 + 75 - 4,784 17,726
    Net portfolio holdings of TALF LLC 11 819 + 5 + 133 819
    Preferred interests in AIA Aurora LLC and ALICO
        Holdings LLC 6		 0 0 0 0
    Float -908 - 102 + 383 -969
    Central bank liquidity swaps 12 104,454 + 1,245 + 104,384 104,454
    Other Federal Reserve assets 13 159,976 + 1,982 + 44,007 160,792
Gold stock 11,041 0 0 11,041
Special drawing rights certificate account 5,200 0 0 5,200
Treasury currency outstanding 14 44,305 + 14 + 608 44,305
 
Total factors supplying reserve funds 2,966,222 + 407 + 467,798 2,967,954
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
Feb 1, 2012
Week ended
Feb 1, 2012		 Change from week ended
Jan 25, 2012 Feb 2, 2011
Currency in circulation 14 1,067,354 + 1,798 + 89,629 1,070,641
Reverse repurchase agreements 15 89,615 - 1,885 + 29,711 83,873
    Foreign official and international accounts 89,615 - 1,885 + 29,711 83,873
    Others 0 0 0 0
Treasury cash holdings 143 - 2 - 34 143
Deposits with F.R. Banks, other than reserve balances 163,162 - 43,383 - 138,230 168,086
    Term deposits held by depository institutions 3,079 0 + 3,079 3,079
    U.S. Treasury, General Account 117,554 + 6,318 + 20,240 120,691
    U.S. Treasury, Supplementary Financing Account 0 0 - 199,963 0
    Foreign official 128 - 19 - 1,040 141
    Service-related 1,977 - 2 - 375 1,977
        Required clearing balances 1,977 - 2 - 375 1,977
        Adjustments to compensate for float 0 0 0 0
    Other 40,424 - 49,680 + 39,829 42,198
Funds from American International Group, Inc. asset
    dispositions, held as agent 6		 0 0 0 0
Other liabilities and capital 16 73,116 + 802 + 1,877 73,240
 
Total factors, other than reserve balances,
    absorbing reserve funds		 1,393,389 - 42,672 - 17,048 1,395,983
 
Reserve balances with Federal Reserve Banks 1,572,834 + 43,080 + 484,847 1,571,970
Note: Components may not sum to totals because of rounding.


1. 
Includes securities lent to dealers under the overnight securities lending facility; refer to table 1A.
2. 
Face value of the securities.
3. 
Compensation that adjusts for the effect of inflation on the original face value of inflation-indexed securities.
4. 
Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. Current face value of the securities, which is the remaining principal balance of the underlying mortgages.
5. 
Cash value of agreements.
6. 
As a result of the closing of the American International Group, Inc. (AIG) recapitalization plan on January 14, 2011, the credit extended to AIG was fully repaid and the Federal Reserve's commitment to lend any further funds was terminated. In addition, the Federal Reserve Bank of New York (FRBNY) has been paid in full for its preferred interests in AIA Aurora LLC and ALICO Holdings LLC. The funds from AIG asset dispositions that FRBNY held as agent were the source of repayment of the credit extended to AIG, as well as a portion of the FRBNY's preferred interests in ALICO Holdings LLC. The remaining FRBNY preferred interests in ALICO Holdings LLC and AIA Aurora LLC, valued at approximately $20 billion, were purchased by AIG through a draw on the Treasury's Series F preferred stock commitment and then transferred by AIG to the Treasury as consideration for the draw on the available Series F funds.
7. 
Includes credit extended by the Federal Reserve Bank of New York to eligible borrowers through the Term Asset-Backed Securities Loan Facility.
8. 
Refer to table 4 and the note on consolidation accompanying table 9.
9. 
Refer to table 5 and the note on consolidation accompanying table 9.
10. 
Refer to table 6 and the note on consolidation accompanying table 9.
11. 
Refer to table 7 and the note on consolidation accompanying table 9.
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, and the fair value adjustment to credit extended by the FRBNY to eligible borrowers through the Term Asset-Backed Securities Loan Facility. Before the closing of the AIG recapitalization plan on January 14, 2011, included accrued dividends on the FRBNY's preferred interests in AIA Aurora LLC and ALICO Holdings LLC.
14. 
Estimated.
15. 
Cash value of agreements, which are collateralized by U.S. Treasury securities, federal agency debt securities, and mortgage-backed securities.
16. 
Includes 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 9. Also includes the liability for interest on Federal Reserve notes due to U.S. Treasury. Refer to table 8 and table 9.

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
Feb 1, 2012
Week ended
Feb 1, 2012		 Change from week ended
Jan 25, 2012 Feb 2, 2011
Marketable securities held in custody for foreign
    official and international accounts 1		 3,409,811 + 3,715 + 53,969 3,413,659
    U.S. Treasury securities 2,681,210 + 1,543 + 74,957 2,684,024
    Federal agency securities 2 728,600 + 2,171 - 20,989 729,635
Securities lent to dealers 12,660 - 125 - 4,082 17,613
    Overnight facility 3 12,660 - 125 - 4,082 17,613
        U.S. Treasury securities 11,516 - 314 - 3,792 16,141
        Federal agency debt securities 1,144 + 189 - 290 1,472
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.

2. Maturity Distribution of Securities, Loans, and Selected Other Assets and Liabilities, February 1, 2012
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
Loans 1 10 13 4,766 3,353 0 ... 8,142
U.S. Treasury securities 2  
    Holdings 20,917 29,843 66,278 625,531 672,891 246,999 1,662,459
    Weekly changes + 4,131 - 3,186 - 614 - 3,815 - 619 + 5,033 + 930
Federal agency debt securities 3  
    Holdings 681 6,246 19,460 58,931 13,833 2,347 101,498
    Weekly changes + 681 - 681 0 0 0 0 0
Mortgage-backed securities 4  
    Holdings 0 0 0 12 73 835,927 836,012
    Weekly changes 0 0 0 0 + 1 + 388 + 388
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 10,367 94,087 0 0 0 0 104,454
   
Reverse repurchase agreements 6 83,873 0 ... ... ... ... 83,873
Term deposits 3,079 0 0 ... ... ... 3,079
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
Millions of dollars
Account name Wednesday
Feb 1, 2012
Mortgage-backed securities held outright 1 836,012
 
Commitments to buy mortgage-backed securities 2 43,181
Commitments to sell mortgage-backed securities 2 0
 
Cash and cash equivalents 3 24
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 8 and table 9.

4. Information on Principal Accounts of Maiden Lane LLC
Millions of dollars
Account name Wednesday
Feb 1, 2012
Net portfolio holdings of Maiden Lane LLC 1 6,967
 
Outstanding principal amount of loan extended by the Federal Reserve Bank of New York 2 3,812
Accrued interest payable to the Federal Reserve Bank of New York 2 758
Outstanding principal amount and accrued interest on loan payable to JPMorgan Chase & Co. 3 1,391
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, 2011. 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.


5. Information on Principal Accounts of Maiden Lane II LLC
Millions of dollars
Account name Wednesday
Feb 1, 2012
Net portfolio holdings of Maiden Lane II LLC 1 9,508
 
Outstanding principal amount of loan extended by the Federal Reserve Bank of New York 2 6,084
Accrued interest payable to the Federal Reserve Bank of New York 2 577
Deferred payment and accrued interest payable to subsidiaries of American International Group, Inc. 3 1,109
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, 2011. 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.


6. Information on Principal Accounts of Maiden Lane III LLC
Millions of dollars
Account name Wednesday
Feb 1, 2012
Net portfolio holdings of Maiden Lane III LLC 1 17,726
 
Outstanding principal amount of loan extended by the Federal Reserve Bank of New York 2 8,890
Accrued interest payable to the Federal Reserve Bank of New York 2 703
Outstanding principal amount and accrued interest on loan payable to American International Group, Inc. 3 5,558
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, 2011. 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.


7. Information on Principal Accounts of TALF LLC
Millions of dollars
Account name Wednesday
Feb 1, 2012
Asset-backed securities holdings 1 0
Other investments, net 819
Net portfolio holdings of TALF LLC 819
 
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 3 110
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 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 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. Consolidated Statement of Condition of All Federal Reserve Banks
Millions of dollars
Assets, liabilities, and capital Eliminations from
consolidation		 Wednesday
Feb 1, 2012		 Change since
Wednesday
Jan 25, 2012		 Wednesday
Feb 2, 2011
Assets  
    Gold certificate account   11,037 0 0
    Special drawing rights certificate account   5,200 0 0
    Coin   2,437 + 24 + 116
    Securities, repurchase agreements, and loans   2,608,111 + 1,281 + 337,641
        Securities held outright 1   2,599,969 + 1,319 + 352,102
            U.S. Treasury securities   1,662,459 + 930 + 524,293
                Bills 2   18,423 0 0
                Notes and bonds, nominal 2   1,565,905 + 668 + 504,690
                Notes and bonds, inflation-indexed 2   68,700 + 282 + 16,334
                Inflation compensation 3   9,431 - 20 + 3,269
            Federal agency debt securities 2   101,498 0 - 43,126
            Mortgage-backed securities 4   836,012 + 388 - 129,065
        Repurchase agreements 5   0 0 0
        Loans   8,142 - 38 - 14,461
    Net portfolio holdings of Maiden Lane LLC 6   6,967 + 19 - 19,571
    Net portfolio holdings of Maiden Lane II LLC 7   9,508 0 - 6,526
    Net portfolio holdings of Maiden Lane III LLC 8   17,726 + 8 - 5,169
    Net portfolio holdings of TALF LLC 9   819 0 + 133
    Preferred interests in AIA Aurora LLC and ALICO
        Holdings LLC 10		   0 0 0
    Items in process of collection (93) 202 0 - 363
    Bank premises   2,175 - 8 - 41
    Central bank liquidity swaps 11   104,454 + 1,283 + 104,384
    Other assets 12   158,616 + 2,775 + 43,986
 
Total assets (93) 2,927,251 + 5,382 + 454,589
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
Assets, liabilities, and capital Eliminations from
consolidation		 Wednesday
Feb 1, 2012		 Change since
Wednesday
Jan 25, 2012		 Wednesday
Feb 2, 2011
Liabilities  
    Federal Reserve notes, net of F.R. Bank holdings   1,028,912 + 4,236 + 87,291
    Reverse repurchase agreements 13   83,873 - 4,842 + 25,971
    Deposits (0) 1,740,056 + 3,996 + 340,280
        Term deposits held by depository institutions   3,079 0 + 3,079
        Other deposits held by depository institutions   1,573,947 - 5,296 + 492,631
        U.S. Treasury, General Account   120,691 + 8,753 + 2,816
        U.S. Treasury, Supplementary Financing Account   0 0 - 199,963
        Foreign official   141 + 16 + 11
        Other (0) 42,198 + 523 + 41,706
    Deferred availability cash items (93) 1,171 + 155 - 752
    Other liabilities and accrued dividends 14   18,638 + 1,038 + 234
 
Total liabilities (93) 2,872,649 + 4,581 + 453,022
 
Capital accounts  
    Capital paid in   27,301 + 400 + 783
    Surplus   27,301 + 400 + 783
    Other capital accounts   0 0 0
 
Total capital   54,602 + 801 + 1,567
Note: Components may not sum to totals because of rounding.


1. 
Includes securities lent to dealers under the overnight securities lending facility; refer to table 1A.
2. 
Face value of the securities.
3. 
Compensation that adjusts for the effect of inflation on the original face value of inflation-indexed securities.
4. 
Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. 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 4 and the note on consolidation accompanying table 9.
7. 
Refer to table 5 and the note on consolidation accompanying table 9.
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. 
As a result of the closing of the AIG recapitalization plan on January 14, 2011, the Federal Reserve Bank of New York has been paid in full for its preferred interests in AIA Aurora LLC and ALICO Holdings LLC. A portion of the preferred interests was redeemed by AIG with the funds from AIG asset dispositions that were held as agent by the Federal Reserve.
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 and the fair value adjustment to credit extended by the Federal Reserve Bank of New York (FRBNY) to eligible borrowers through the Term Asset-Backed Securities Loan Facility. Before the closing of the AIG recapitalization plan on January 14, 2011, included accrued dividends on the FRBNY's preferred interests in AIA Aurora LLC and ALICO Holdings LLC.
13. 
Cash value of agreements, which are collateralized by U.S. Treasury securities, federal agency debt securities, and mortgage-backed securities.
14. 
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 9. Also includes the liability for interest on Federal Reserve notes due to U.S. Treasury. Before the closing of the AIG recapitalization plan on January 14, 2011, included funds from American International Group, Inc. asset dispositions, held as agent.


9. Statement of Condition of Each Federal Reserve Bank, February 1, 2012
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 11,037 390 3,866 432 450 872 1,394 854 319 197 318 728 1,217
    Special drawing rights certificate acct. 5,200 196 1,818 210 237 412 654 424 150 90 153 282 574
    Coin 2,437 59 102 163 181 425 222 349 42 63 180 253 397
    Securities, repurchase agreements,
        and loans		 2,608,111 63,924 1,217,227 89,065 70,231 300,275 193,288 154,400 49,210 39,960 69,161 102,829 258,541
        Securities held outright 1 2,599,969 63,924 1,209,097 89,065 70,231 300,270 193,288 154,400 49,210 39,958 69,161 102,829 258,537
            U.S. Treasury securities 1,662,459 40,874 773,115 56,949 44,906 191,997 123,592 98,726 31,465 25,549 44,222 65,750 165,312
                Bills 2 18,423 453 8,567 631 498 2,128 1,370 1,094 349 283 490 729 1,832
                Notes and bonds 3 1,644,036 40,421 764,547 56,318 44,409 189,869 122,222 97,632 31,117 25,266 43,732 65,022 163,480
            Federal agency debt securities 2 101,498 2,495 47,201 3,477 2,742 11,722 7,546 6,028 1,921 1,560 2,700 4,014 10,093
            Mortgage-backed securities 4 836,012 20,555 388,782 28,638 22,582 96,551 62,151 49,647 15,823 12,848 22,238 33,064 83,132
        Repurchase agreements 5 0 0 0 0 0 0 0 0 0 0 0 0 0
        Loans 8,142 0 8,130 0 0 5 0 0 0 2 0 0 4
    Net portfolio holdings of Maiden
        Lane LLC 6		 6,967 0 6,967 0 0 0 0 0 0 0 0 0 0
    Net portfolio holdings of Maiden
        Lane II LLC 7		 9,508 0 9,508 0 0 0 0 0 0 0 0 0 0
    Net portfolio holdings of Maiden
        Lane III LLC 8		 17,726 0 17,726 0 0 0 0 0 0 0 0 0 0
    Net portfolio holdings of TALF LLC 9 819 0 819 0 0 0 0 0 0 0 0 0 0
    Preferred interests in AIA Aurora LLC
        and ALICO Holdings LLC 10		 0 0 0 0 0 0 0 0 0 0 0 0 0
    Items in process of collection 295 6 0 77 43 5 70 14 4 10 5 17 43
    Bank premises 2,175 122 259 67 125 231 213 205 134 105 258 244 212
    Central bank liquidity swaps 11 104,454 3,662 33,694 9,060 7,722 21,607 5,973 2,787 854 426 1,039 1,673 15,957
    Other assets 12 158,616 4,208 69,760 6,829 5,535 20,823 11,365 8,540 2,757 2,179 3,791 5,674 17,153
    Interdistrict settlement account 0 + 69 + 344,723 - 28,177 - 14,566 - 137,932 - 41,763 - 16,996 - 6,487 - 15,856 - 18,043 - 1,931 - 63,041
 
Total assets 2,927,344 72,637 1,706,469 77,725 69,958 206,720 171,417 150,576 46,984 27,174 56,862 109,769 231,053
Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table.


9. Statement of Condition of Each Federal Reserve Bank, February 1, 2012 (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 1,213,940 44,112 436,537 45,757 56,879 95,015 143,647 88,653 33,762 20,983 34,430 79,600 134,565
        Less: Notes held by F.R. Banks 185,028 5,119 56,795 6,576 9,849 12,024 27,605 13,089 4,301 5,375 4,033 12,454 27,809
            Federal Reserve notes, net 1,028,912 38,992 379,742 39,181 47,030 82,991 116,042 75,564 29,461 15,608 30,397 67,147 106,756
    Reverse repurchase agreements 13 83,873 2,062 39,004 2,873 2,266 9,686 6,235 4,981 1,587 1,289 2,231 3,317 8,340
    Deposits 1,740,056 28,979 1,256,263 30,525 16,198 101,833 45,224 68,029 15,254 9,659 23,425 37,993 106,672
        Term deposits held by depository
            institutions		 3,079 20 621 617 47 1,010 5 364 3 65 251 5 72
        Other deposits held by depository
            institutions		 1,573,947 28,951 1,092,885 29,900 16,148 100,613 45,217 67,634 15,251 9,594 23,173 37,986 106,593
        U.S. Treasury, General Account 120,691 0 120,691 0 0 0 0 0 0 0 0 0 0
        U.S. Treasury, Supplementary
            Financing Account		 0 0 0 0 0 0 0 0 0 0 0 0 0
        Foreign official 141 1 114 3 3 8 2 1 0 0 0 1 6
        Other 42,198 6 41,951 5 0 201 0 30 0 0 1 2 1
    Deferred availability cash items 1,264 50 1 127 169 25 178 40 31 212 41 94 295
    Interest on Federal Reserve notes due
        to U.S. Treasury 14		 1,712 -291 925 92 70 277 128 109 34 35 43 67 222
    Other liabilities and accrued
        dividends 15		 16,926 200 13,179 260 247 778 490 418 177 152 188 289 549
 
Total liabilities 2,872,742 69,993 1,689,115 73,059 65,980 195,591 168,298 149,141 46,543 26,955 56,326 108,907 222,834
 
Capital  
    Capital paid in 27,301 1,322 8,677 2,333 1,989 5,564 1,559 718 220 109 268 431 4,109
    Surplus 27,301 1,322 8,677 2,333 1,989 5,564 1,559 718 220 109 268 431 4,109
    Other capital 0 0 0 0 0 0 0 0 0 0 0 0 0
 
Total liabilities and capital 2,927,344 72,637 1,706,469 77,725 69,958 206,720 171,417 150,576 46,984 27,174 56,862 109,769 231,053
Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table.


9. Statement of Condition of Each Federal Reserve Bank, February 1, 2012 (continued)

1. 
Includes securities lent to dealers under the overnight securities lending facility; refer to table 1A.
2. 
Face value of the securities.
3. 
Includes the original face value of inflation-indexed securities and compensation that adjusts for the effect of inflation on the original face value of such securities.
4. 
Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. 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 4 and the note on consolidation below.
7. 
Refer to table 5 and the note on consolidation below.
8. 
Refer to table 6 and the note on consolidation below.
9. 
Refer to table 7 and the note on consolidation below.
10. 
As a result of the closing of the AIG recapitalization plan on January 14, 2011, the Federal Reserve Bank of New York has been paid in full for its preferred interests in AIA Aurora LLC and ALICO Holdings LLC. A portion of the preferred interests was redeemed by AIG with the funds from AIG asset dispositions that were held as agent by the Federal Reserve.
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 and the fair value adjustment to credit extended by the Federal Reserve Bank of New York (FRBNY) to eligible borrowers through the Term Asset-Backed Securities Loan Facility. Before the closing of the AIG recapitalization plan on January 14, 2011, included accrued dividends on the FRBNY's preferred interests in AIA Aurora LLC and ALICO Holdings LLC.
13. 
Cash value of agreements, which are collateralized by U.S. Treasury securities, federal agency debt securities, and mortgage-backed securities.
14. 
Represents the estimated weekly remittances to U.S Treasury as interest on Federal Reserve notes or, in those cases where the Reserve Bank's net earnings are not sufficient to equate surplus to capital paid-in, the deferred asset for interest on Federal Reserve notes. The amount of any deferred asset, which is presented as a negative amount in this line, represents the amount of the Federal Reserve Bank's earnings that must be retained before remittances to the U.S. Treasury resume. The amounts on this line are calculated in accordance with Board of Governors policy, which requires the Federal Reserve Banks to remit residual earnings to the U.S. Treasury as interest on Federal Reserve notes after providing for the costs of operations, payment of dividends, and the amount necessary to equate surplus with capital paid-in.
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. Before the closing of the AIG recapitalization plan on January 14, 2011, included 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 8), and the liabilities of the LLCs to entities other than the FRBNY, including those with recourse only to the portfolio holdings of the LLCs, are included in other liabilities in this table (and table 1 and table 8).


10. Collateral Held against Federal Reserve Notes: Federal Reserve Agents' Accounts
Millions of dollars
Federal Reserve notes and collateral Wednesday
Feb 1, 2012
Federal Reserve notes outstanding 1,213,940
    Less: Notes held by F.R. Banks not subject to collateralization 185,028
        Federal Reserve notes to be collateralized 1,028,912
Collateral held against Federal Reserve notes 1,028,912
    Gold certificate account 11,037
    Special drawing rights certificate account 5,200
    U.S. Treasury, agency debt, and mortgage-backed securities pledged 1,2 1,012,675
    Other assets pledged 0
Memo:  
Total U.S. Treasury, agency debt, and mortgage-backed securities 1,2 2,599,969
    Less: Face value of securities under reverse repurchase agreements 71,913
        U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 2,528,056
Note: Components may not sum to totals because of rounding.


1. 
Includes face value of U.S. Treasury, agency debt, and mortgage-backed securities held outright, compensation to adjust for the effect of inflation on the original face value of inflation-indexed securities, and cash value of repurchase agreements.
2. 
Includes securities lent to dealers under the overnight securities lending facility; refer to table 1A.

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Last update: February 2, 2012