Federal Reserve Statistical Release, H.4.1, Factors Affecting Reserve Balances; title with eagle logo links to Statistical Release home page
Release Date:   July 19, 2012
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For release at
4:30 P.M. EDT
July 19, 2012

As stated in the press release on April 5, 2012, the Federal Reserve Board is in the process of
simplifying the administration of reserve requirements. The first steps in this process include
discontinuing as-of adjustments related to deposit revisions, replacing all other as-of adjustments
with direct compensation, and eliminating the contractual clearing balance program. As a result, the
Wednesday levels for line items "Required clearing balances" and "Adjustments to compensate for
float" will be reported as zero beginning with the July 19, 2012, release.


FEDERAL RESERVE statistical release

H.4.1

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

July 19, 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
Jul 18, 2012
Week ended
Jul 18, 2012		 Change from week ended
Jul 11, 2012 Jul 20, 2011
Reserve Bank credit 2,857,227 + 8,166 + 2,371 2,842,008
    Securities held outright 1 2,612,597 + 2,120 - 38,839 2,602,738
        U.S. Treasury securities 1,654,395 - 9,554 + 22,594 1,648,694
            Bills 2 8,356 - 6,285 - 10,067 8,356
            Notes and bonds, nominal 2 1,566,921 - 4,428 + 28,266 1,561,338
            Notes and bonds, inflation-indexed 2 69,172 + 1,068 + 3,651 69,086
            Inflation compensation 3 9,946 + 91 + 743 9,914
        Federal agency debt securities 2 91,289 - 195 - 23,338 91,029
        Mortgage-backed securities 4 866,913 + 11,869 - 38,095 863,015
    Repurchase agreements 5 0 0 0 0
    Loans 4,624 + 32 - 7,880 4,568
        Primary credit 65 + 57 + 59 23
        Secondary credit 0 0 0 0
        Seasonal credit 94 + 14 + 18 107
        Term Asset-Backed Securities Loan Facility 6 4,465 - 39 - 7,957 4,438
        Other credit extensions 0 0 0 0
    Net portfolio holdings of Maiden Lane LLC 7 2,366 - 52 - 18,807 2,028
    Net portfolio holdings of Maiden Lane II LLC 8 18 0 - 11,436 18
    Net portfolio holdings of Maiden Lane III LLC 9 11,765 - 1,187 - 11,869 6,164
    Net portfolio holdings of TALF LLC 10 845 0 + 88 845
    Float -649 + 100 + 426 -779
    Central bank liquidity swaps 11 30,552 + 844 + 30,552 30,552
    Other Federal Reserve assets 12 195,108 + 6,309 + 60,135 195,875
Gold stock 11,041 0 0 11,041
Special drawing rights certificate account 5,200 0 0 5,200
Treasury currency outstanding 13 44,599 + 14 + 620 44,599
 
Total factors supplying reserve funds 2,918,067 + 8,180 + 2,991 2,902,848
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
Jul 18, 2012
Week ended
Jul 18, 2012		 Change from week ended
Jul 11, 2012 Jul 20, 2011
Currency in circulation 13 1,113,126 - 4,043 + 84,802 1,112,601
Reverse repurchase agreements 14 90,915 + 988 + 25,209 87,994
    Foreign official and international accounts 90,915 + 988 + 25,209 87,994
    Others 0 0 0 0
Treasury cash holdings 116 - 1 - 37 117
Deposits with F.R. Banks, other than reserve balances 98,797 - 14,851 - 12,556 93,296
    Term deposits held by depository institutions 0 0 0 0
    U.S. Treasury, General Account 63,021 - 23,379 - 27,698 58,670
    U.S. Treasury, Supplementary Financing Account 0 0 - 5,000 0
    Foreign official 2,568 + 576 + 2,426 2,576
    Service-related 0 - 1,892 - 2,530 0
        Required clearing balances 0 - 1,892 - 2,530 0
        Adjustments to compensate for float 0 0 0 0
    Other 33,207 + 9,844 + 20,245 32,050
Other liabilities and capital 15 75,203 + 189 + 2,725 68,151
 
Total factors, other than reserve balances,
    absorbing reserve funds		 1,378,158 - 17,717 + 100,144 1,362,159
 
Reserve balances with Federal Reserve Banks 1,539,909 + 25,898 - 97,153 1,540,689
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. 
Includes credit extended by the Federal Reserve Bank of New York to eligible borrowers through the Term Asset-Backed Securities Loan Facility.
7. 
Refer to table 4 and the note on consolidation accompanying table 9.
8. 
Refer to table 5 and the note on consolidation accompanying table 9.
9. 
Refer to table 6 and the note on consolidation accompanying table 9.
10. 
Refer to table 7 and the note on consolidation accompanying table 9.
11. 
Dollar value of foreign currency held under these agreements valued at the exchange rate to be used when the foreign currency is returned to the foreign central bank. This exchange rate equals the market exchange rate used when the foreign currency was acquired from the foreign central bank.
12. 
Includes other assets denominated in foreign currencies, which are revalued daily at market exchange rates, and the fair value adjustment to credit extended by the FRBNY to eligible borrowers through the Term Asset-Backed Securities Loan Facility.
13. 
Estimated.
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 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
Jul 18, 2012
Week ended
Jul 18, 2012		 Change from week ended
Jul 11, 2012 Jul 20, 2011
Marketable securities held in custody for foreign
    official and international accounts 1		 3,515,368 + 1,685 + 61,423 3,515,248
    U.S. Treasury securities 2,821,917 + 5,633 + 102,028 2,822,728
    Federal agency securities 2 693,451 - 3,948 - 40,605 692,521
Securities lent to dealers 11,458 - 1,519 - 2,953 10,553
    Overnight facility 3 11,458 - 1,519 - 2,953 10,553
        U.S. Treasury securities 10,720 - 1,537 - 3,088 9,803
        Federal agency debt securities 738 + 19 + 135 750
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, July 18, 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 1 111 1,501 1,392 1,564 0 ... 4,568
U.S. Treasury securities 2  
    Holdings 9,995 12,588 12,604 512,408 757,892 343,207 1,648,694
    Weekly changes - 4,840 - 1,639 + 1 - 14,661 + 3,563 + 3,634 - 13,943
Federal agency debt securities 3  
    Holdings 0 8,283 16,225 58,424 5,750 2,347 91,029
    Weekly changes - 455 + 659 + 2,000 - 2,659 0 0 - 455
Mortgage-backed securities 4  
    Holdings 0 0 2 6 159 862,849 863,015
    Weekly changes 0 0 0 0 + 38 + 7,924 + 7,961
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 10,342 20,210 0 0 0 0 30,552
   
Reverse repurchase agreements 6 87,994 0 ... ... ... ... 87,994
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
Millions of dollars
Account name Wednesday
Jul 18, 2012
Mortgage-backed securities held outright 1 863,015
 
Commitments to buy mortgage-backed securities 2 30,102
Commitments to sell mortgage-backed securities 2 0
 
Cash and cash equivalents 3 237
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
Jul 18, 2012
Net portfolio holdings of Maiden Lane LLC 1 2,028
 
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
Outstanding principal amount and accrued interest on loan payable to JPMorgan Chase & Co. 3 704
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 March 31, 2012. 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
Jul 18, 2012
Net portfolio holdings of Maiden Lane II LLC 1 18
 
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
Deferred payment and accrued interest payable to subsidiaries of American International Group, Inc. 3 0
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 March 31, 2012. 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
Jul 18, 2012
Net portfolio holdings of Maiden Lane III LLC 1 6,164
 
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
Outstanding principal amount and accrued interest on loan payable to American International Group, Inc. 3 0
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 March 31, 2012. 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
Jul 18, 2012
Asset-backed securities holdings 1 0
Other investments, net 845
Net portfolio holdings of TALF LLC 845
 
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 3 111
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 $1.4 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
Jul 18, 2012		 Change since
Wednesday
Jul 11, 2012		 Wednesday
Jul 20, 2011
Assets  
    Gold certificate account   11,037 0 0
    Special drawing rights certificate account   5,200 0 0
    Coin   2,103 + 6 - 64
    Securities, repurchase agreements, and loans   2,607,306 - 6,460 - 57,536
        Securities held outright 1   2,602,738 - 6,437 - 49,573
            U.S. Treasury securities   1,648,694 - 13,943 + 14,601
                Bills 2   8,356 - 6,285 - 10,067
                Notes and bonds, nominal 2   1,561,338 - 7,443 + 20,421
                Notes and bonds, inflation-indexed 2   69,086 - 151 + 3,565
                Inflation compensation 3   9,914 - 64 + 682
            Federal agency debt securities 2   91,029 - 455 - 23,007
            Mortgage-backed securities 4   863,015 + 7,961 - 41,167
        Repurchase agreements 5   0 0 0
        Loans   4,568 - 22 - 7,963
    Net portfolio holdings of Maiden Lane LLC 6   2,028 - 395 - 18,716
    Net portfolio holdings of Maiden Lane II LLC 7   18 0 - 11,443
    Net portfolio holdings of Maiden Lane III LLC 8   6,164 - 6,823 - 17,354
    Net portfolio holdings of TALF LLC 9   845 0 + 88
    Items in process of collection (64) 149 + 25 - 115
    Bank premises   2,359 + 1 + 158
    Central bank liquidity swaps 10   30,552 + 844 + 30,552
    Other assets 11   190,114 + 2,291 + 57,095
 
Total assets (64) 2,857,874 - 10,513 - 17,337
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
Jul 18, 2012		 Change since
Wednesday
Jul 11, 2012		 Wednesday
Jul 20, 2011
Liabilities  
    Federal Reserve notes, net of F.R. Bank holdings   1,070,218 - 3,514 + 82,594
    Reverse repurchase agreements 12   87,994 - 1,695 + 23,299
    Deposits (0) 1,630,583 + 349 - 119,234
        Term deposits held by depository institutions   0 0 0
        Other deposits held by depository institutions   1,537,287 + 9,731 - 89,910
        U.S. Treasury, General Account   58,670 - 16,617 - 37,752
        U.S. Treasury, Supplementary Financing Account   0 0 - 5,000
        Foreign official   2,576 + 10 + 2,398
        Other (0) 32,050 + 7,225 + 11,030
    Deferred availability cash items (64) 928 - 27 - 389
    Other liabilities and accrued dividends 13   13,474 - 5,630 - 6,611
 
Total liabilities (64) 2,803,198 - 10,515 - 20,340
 
Capital accounts  
    Capital paid in   27,338 + 1 + 1,502
    Surplus   27,338 + 1 + 1,502
    Other capital accounts   0 0 0
 
Total capital   54,676 + 2 + 3,003
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. 
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.
11. 
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.
12. 
Cash value of agreements, which are collateralized by U.S. Treasury securities, federal agency debt securities, and mortgage-backed securities.
13. 
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.


9. Statement of Condition of Each Federal Reserve Bank, July 18, 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 11,037 408 3,824 437 515 890 1,337 839 313 192 315 725 1,242
    Special drawing rights certificate acct. 5,200 196 1,818 210 237 412 654 424 150 90 153 282 574
    Coin 2,103 40 84 144 146 380 196 311 34 52 162 204 350
    Securities, repurchase agreements,
        and loans		 2,607,306 63,216 1,463,675 86,041 66,173 185,241 156,943 144,399 40,718 23,712 52,297 101,139 223,753
        Securities held outright 1 2,602,738 63,216 1,459,237 86,041 66,173 185,241 156,927 144,389 40,691 23,661 52,290 101,130 223,743
            U.S. Treasury securities 1,648,694 40,044 924,347 54,502 41,917 117,340 99,405 91,462 25,776 14,988 33,123 64,060 141,729
                Bills 2 8,356 203 4,685 276 212 595 504 464 131 76 168 325 718
                Notes and bonds 3 1,640,338 39,841 919,663 54,226 41,705 116,745 98,901 90,999 25,645 14,912 32,955 63,736 141,011
            Federal agency debt securities 2 91,029 2,211 51,036 3,009 2,314 6,479 5,488 5,050 1,423 828 1,829 3,537 7,825
            Mortgage-backed securities 4 863,015 20,961 483,853 28,529 21,942 61,422 52,034 47,876 13,492 7,846 17,338 33,533 74,189
        Repurchase agreements 5 0 0 0 0 0 0 0 0 0 0 0 0 0
        Loans 4,568 0 4,438 0 0 0 16 11 27 51 7 9 10
    Net portfolio holdings of Maiden
        Lane LLC 6		 2,028 0 2,028 0 0 0 0 0 0 0 0 0 0
    Net portfolio holdings of Maiden
        Lane II LLC 7		 18 0 18 0 0 0 0 0 0 0 0 0 0
    Net portfolio holdings of Maiden
        Lane III LLC 8		 6,164 0 6,164 0 0 0 0 0 0 0 0 0 0
    Net portfolio holdings of TALF LLC 9 845 0 845 0 0 0 0 0 0 0 0 0 0
    Items in process of collection 213 3 0 46 29 3 57 13 6 7 3 9 36
    Bank premises 2,359 122 459 67 123 230 212 203 132 104 255 242 211
    Central bank liquidity swaps 10 30,552 1,071 9,855 2,650 2,259 6,320 1,747 815 250 125 304 489 4,667
    Other assets 11 190,114 4,918 100,233 7,641 6,056 17,082 11,416 9,813 2,826 1,658 3,586 6,879 18,007
    Interdistrict settlement account 0 + 8,034 + 15,271 - 18,087 - 2,393 - 19,006 + 15,227 + 593 + 2,283 + 1,020 - 2,394 - 1,710 + 1,162
 
Total assets 2,857,938 78,006 1,604,273 79,149 73,145 191,551 187,789 157,410 46,712 26,960 54,681 108,260 250,003
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, July 18, 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 1,268,145 46,216 440,963 47,165 61,260 101,941 167,885 93,905 37,638 22,621 36,727 77,241 134,583
        Less: Notes held by F.R. Banks 197,927 4,868 76,368 5,446 7,866 12,466 28,305 12,923 4,282 3,451 3,635 13,582 24,735
            Federal Reserve notes, net 1,070,218 41,349 364,595 41,719 53,395 89,475 139,580 80,982 33,356 19,171 33,092 63,659 109,848
    Reverse repurchase agreements 12 87,994 2,137 49,334 2,909 2,237 6,263 5,305 4,882 1,376 800 1,768 3,419 7,564
    Deposits 1,630,583 31,590 1,163,575 29,774 12,936 84,123 39,103 69,430 11,264 6,460 19,046 39,870 123,412
        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		 1,537,287 31,586 1,070,409 29,767 12,933 84,053 39,096 69,403 11,263 6,460 19,045 39,868 123,405
        U.S. Treasury, General Account 58,670 0 58,670 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 2,576 1 2,549 3 3 8 2 1 0 0 0 1 6
        Other 32,050 3 31,947 4 0 62 5 25 0 0 1 2 1
    Deferred availability cash items 992 31 0 104 50 17 159 26 76 149 29 70 281
    Interest on Federal Reserve notes due
        to U.S. Treasury 13		 1,754 37 987 64 50 141 105 89 25 7 29 63 158
    Other liabilities and accrued
        dividends 14		 11,720 202 8,328 253 235 597 436 398 170 145 170 288 500
 
Total liabilities 2,803,262 75,346 1,586,820 74,822 68,903 180,614 184,688 155,806 46,265 26,732 54,134 107,369 241,763
 
Capital  
    Capital paid in 27,338 1,330 8,727 2,164 2,121 5,468 1,551 802 223 114 273 445 4,120
    Surplus 27,338 1,330 8,727 2,164 2,121 5,468 1,551 802 223 114 273 445 4,120
    Other capital 0 0 0 0 0 0 0 0 0 0 0 0 0
 
Total liabilities and capital 2,857,938 78,006 1,604,273 79,149 73,145 191,551 187,789 157,410 46,712 26,960 54,681 108,260 250,003
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, July 18, 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. 
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.
11. 
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.
12. 
Cash value of agreements, which are collateralized by U.S. Treasury securities, federal agency debt securities, and mortgage-backed securities.
13. 
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.
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 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 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
Jul 18, 2012
Federal Reserve notes outstanding 1,268,145
    Less: Notes held by F.R. Banks not subject to collateralization 197,927
        Federal Reserve notes to be collateralized 1,070,218
Collateral held against Federal Reserve notes 1,070,218
    Gold certificate account 11,037
    Special drawing rights certificate account 5,200
    U.S. Treasury, agency debt, and mortgage-backed securities pledged 1,2 1,053,981
    Other assets pledged 0
Memo:  
Total U.S. Treasury, agency debt, and mortgage-backed securities 1,2 2,602,738
    Less: Face value of securities under reverse repurchase agreements 74,160
        U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 2,528,578
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: July 19, 2012