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Release Date: November 27, 2009
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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 27, 2009
1. Factors Affecting Reserve Balances of Depository Institutions
Millions of dollars
Reserve Bank credit, related items, and Averages of daily figures
reserve balances of depository institutions at Week ended Change from week ended Wednesday
Federal Reserve Banks Nov 25, 2009 Nov 18, 2009 Nov 26, 2008 Nov 25, 2009
Reserve Bank credit 2,189,831 - 1,552 + 97,399 2,189,044
Securities held outright (1) 1,785,029 + 11,076 +1,296,353 1,783,726
U.S. Treasury securities 776,532 + 8 + 300,117 776,535
Bills (2) 18,423 0 0 18,423
Notes and bonds, nominal (2) 707,649 0 + 297,158 707,649
Notes and bonds, inflation-indexed (2) 44,643 0 + 3,572 44,643
Inflation compensation (3) 5,818 + 8 - 611 5,821
Federal agency debt securities (2) 153,625 + 1,888 + 141,364 155,066
Mortgage-backed securities (4) 854,872 + 9,180 + 854,872 852,124
Repurchase agreements (5) 0 0 - 80,000 0
Term auction credit 101,009 - 8,447 - 305,499 101,009
Other loans 108,484 + 238 - 174,696 109,578
Primary credit 19,932 + 139 - 73,696 19,921
Secondary credit 0 0 - 225 0
Seasonal credit 69 - 13 + 64 58
Primary dealer and other broker-dealer credit (6) 0 0 - 52,418 0
Asset-Backed Commercial Paper Money Market
Mutual Fund Liquidity Facility 0 0 - 57,318 0
Credit extended to American International
Group, Inc., net (7) 44,943 + 182 - 34,642 45,063
Term Asset-Backed Securities Loan Facility, net (8) 43,539 - 72 + 43,539 44,537
Other credit extensions 0 0 0 0
Net portfolio holdings of Commercial Paper
Funding Facility LLC (9) 15,042 - 72 - 267,155 15,046
Net portfolio holdings of Maiden Lane LLC (10) 26,350 + 10 - 578 26,361
Net portfolio holdings of Maiden Lane II LLC (11) 15,777 + 39 + 15,777 15,845
Net portfolio holdings of Maiden Lane III LLC (12) 22,952 + 18 + 16,942 22,961
Net portfolio holdings of TALF LLC (13) 266 + 35 + 266 266
Float -1,600 + 369 - 1,123 -1,641
Central bank liquidity swaps (14) 25,811 - 2,467 - 453,628 25,811
Other Federal Reserve assets (15) 90,710 - 2,351 + 50,739 90,083
Gold stock 11,041 0 0 11,041
Special drawing rights certificate account 5,200 0 + 3,000 5,200
Treasury currency outstanding (16) 42,619 + 14 + 3,945 42,614
Total factors supplying reserve funds 2,248,691 - 1,538 + 104,344 2,247,899
Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table.
1. Factors Affecting Reserve Balances of Depository Institutions (continued)
Millions of dollars
Reserve Bank credit, related items, and Averages of daily figures
reserve balances of depository institutions at Week ended Change from week ended Wednesday
Federal Reserve Banks Nov 25, 2009 Nov 18, 2009 Nov 26, 2008 Nov 25, 2009
Currency in circulation (16) 919,932 + 643 + 53,026 923,404
Reverse repurchase agreements (17) 58,125 - 2,046 - 39,200 58,483
Foreign official and international accounts 58,125 - 2,046 - 14,200 58,483
Dealers 0 0 - 25,000 0
Treasury cash holdings 233 - 2 - 9 233
Deposits with F.R. Banks, other than reserve balances 48,885 - 53,138 - 505,417 35,202
U.S. Treasury, general account 25,904 - 35,730 - 38,627 12,997
U.S. Treasury, supplementary financing account 14,999 0 - 464,055 14,999
Foreign official 3,163 + 468 + 2,973 2,126
Service-related 3,037 - 101 - 1,916 3,037
Required clearing balances 3,037 - 101 - 1,916 3,037
Adjustments to compensate for float 0 0 0 0
Other 1,782 - 17,774 - 3,793 2,042
Other liabilities and capital (18) 65,408 - 1,268 + 17,569 65,034
Total factors, other than reserve balances,
absorbing reserve funds 1,092,583 - 55,812 - 474,031 1,082,356
Reserve balances with Federal Reserve Banks 1,156,108 + 54,274 + 578,375 1,165,543
Note: Components may not sum to totals because of rounding.
1. Includes securities lent to dealers under the overnight and term securities lending facilities; refer
to table 1A.
2. Face value of the securities.
3. Compensation that adjusts for the effect of inflation on the original face value of inflation-indexed
securities.
4. Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. Current face value of the securities, which is
the remaining principal balance of the underlying mortgages.
5. Cash value of agreements.
6. Includes credit extended through the Primary Dealer Credit Facility and credit extended to certain
other broker-dealers.
7. Includes outstanding principal and capitalized interest net of unamortized deferred commitment fees and
allowance for loan restructuring. Excludes credit extended to consolidated LLCs.
8. Includes credit extended by the Federal Reserve Bank of New York to eligible borrowers through the Term
Asset-Backed Securities Loan Facility, net of unamortized deferred administrative fees.
9. Refer to table 7 and the note on consolidation accompanying table 10.
10. Refer to table 4 and the note on consolidation accompanying table 10.
11. Refer to table 5 and the note on consolidation accompanying table 10.
12. Refer to table 6 and the note on consolidation accompanying table 10.
13. Refer to table 8 and the note on consolidation accompanying table 10.
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.
16. Estimated.
17. Cash value of agreements, which are collateralized by U.S. Treasury securities.
18. Includes the liabilities of Commercial Paper Funding Facility LLC, 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 8 and the note on consolidation accompanying table 10.
Sources: Federal Reserve Banks and the U.S. Department of the Treasury.
1A. Memorandum Items
Millions of dollars
Averages of daily figures
Memorandum item Week ended Change from week ended Wednesday
Nov 25, 2009 Nov 18, 2009 Nov 26, 2008 Nov 25, 2009
Marketable securities held in custody for foreign
official and international accounts (1) 2,925,301 - 2,672 + 427,218 2,923,110
U.S. Treasury securities 2,158,365 - 3,364 + 540,600 2,156,007
Federal agency securities (2) 766,937 + 693 - 113,381 767,103
Securities lent to dealers 6,161 - 1,312 - 190,158 6,927
Overnight facility (3) 6,161 - 1,312 - 2,710 6,927
U.S. Treasury securities 5,110 - 1,094 - 3,761 5,542
Federal agency debt securities 1,050 - 219 + 1,050 1,385
Term facility (4) 0 0 - 187,447 0
Note: Components may not sum to totals because of rounding.
1. Face value of the securities. Includes U.S. Treasury STRIPS, other zero-coupon bonds, and mortgage-backed
securities at face value.
2. Includes debt and mortgage-backed securities.
3. Fully collateralized by U.S. Treasury securities.
4. 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 Term Auction Credit, Other Loans, and Securities, November 25, 2009
Millions of dollars
Remaining maturity Within 15 16 days to 91 days to Over 1 year Over 5 years Over 10 All
days 90 days 1 year to 5 years to 10 years years
Term auction credit 31,908 69,101 --- --- --- --- 101,009
Other loans (1) 15,449 4,529 0 89,599 0 --- 109,578
U.S. Treasury securities (2)
Holdings 16,028 24,111 48,711 331,336 211,686 144,662 776,535
Weekly changes - 3,520 + 3,520 0 + 2 + 2 + 4 + 8
Federal agency debt securities (3)
Holdings 30 1,591 22,333 95,670 33,395 2,047 155,066
Weekly changes + 30 - 30 + 816 + 2,124 - 923 0 + 2,017
Mortgage-backed securities (4)
Holdings 0 0 0 0 0 852,124 852,124
Weekly changes 0 0 0 0 0 + 5,082 + 5,082
Commercial paper held by
Commercial Paper Funding
Facility LLC (5) 1,059 9,440 0 --- --- --- 10,499
Asset-backed securities held by
TALF LLC (6) 0 0 0 0 0 0 0
Repurchase agreements (7) 0 0 --- --- --- --- 0
Central bank liquidity swaps (8) 20,889 4,922 0 0 0 0 25,811
Reverse repurchase agreements (7) 58,483 0 --- --- --- --- 58,483
Note: Components may not sum to totals because of rounding.
--- Not applicable.
1. Excludes the loans from the Federal Reserve Bank of New York (FRBNY) to Commercial Paper Funding Facility LLC, 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 commercial paper held by Commercial Paper Funding Facility LLC.
6. Face value of asset-backed securities held by TALF LLC, which is the remaining principal balance of the underlying assets.
7. Cash value of agreements.
8. Dollar value of foreign currency held under these agreements valued at the exchange rate to be used when the foreign
currency is returned to the foreign central bank. This exchange rate equals the market exchange rate used when the
foreign currency was acquired from the foreign central bank.
3. Supplemental Information on Mortgage-Backed Securities Purchase Program
Millions of dollars
Wednesday
Account name Nov 25, 2009
Mortgage-backed securities held outright (1) 852,124
Commitments to buy mortgage-backed securities (2) 146,430
Commitments to sell mortgage-backed securities (2) 0
Cash and cash equivalents (3) 106
1. Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. Current face value of the securities, which is the
remaining principal balance of the underlying mortgages.
2. Current face value. Generally settle within 180 days and include commitments associated with outright
transactions as well as dollar rolls.
3. This amount is included in other Federal Reserve assets in table 1 and in other assets in table 9 and table 10.
4. Information on Principal Accounts of Maiden Lane LLC
Millions of dollars
Wednesday
Account name Nov 25, 2009
Net portfolio holdings of Maiden Lane LLC (1) 26,361
Outstanding principal amount of loan extended by the Federal Reserve Bank of New York (2) 28,820
Accrued interest payable to the Federal Reserve Bank of New York (2) 399
Outstanding principal amount and accrued interest on loan payable to JPMorgan Chase & Co. (3) 1,242
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, 2009. Any assets purchased after this valuation date
are initially recorded at cost until their estimated fair value as of the purchase date becomes available.
2. Book value. This amount was eliminated when preparing the Federal Reserve Bank of New York's statement
of condition consistent with consolidation under generally accepted accounting principles. Refer to
the note on consolidation accompanying table 10.
3. Book value. The fair value of these obligations is included in other liabilities and capital in table 1
and in other liabilities and accrued dividends in table 9 and table 10.
Note: On June 26, 2008, the Federal Reserve Bank of New York (FRBNY) extended credit to Maiden Lane LLC
under the authority of section 13(3) of the Federal Reserve Act. This limited liability company was formed
to acquire certain assets of Bear Stearns and to manage those assets through time to maximize repayment of
the credit extended and to minimize disruption to financial markets. Payments by Maiden Lane LLC from the
proceeds of the net portfolio holdings will be made in the following order: operating expenses of the LLC,
principal due to the FRBNY, interest due to the FRBNY, principal due to JPMorgan Chase & Co., and interest
due to JPMorgan Chase & Co. Any remaining funds will be paid to the FRBNY.
5. Information on Principal Accounts of Maiden Lane II LLC
Millions of dollars
Wednesday
Account name Nov 25, 2009
Net portfolio holdings of Maiden Lane II LLC (1) 15,845
Outstanding principal amount of loan extended by the Federal Reserve Bank of New York (2) 16,018
Accrued interest payable to the Federal Reserve Bank of New York (2) 247
Deferred payment and accrued interest payable to subsidiaries of American International
Group, Inc. (3) 1,033
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, 2009. Any assets purchased after this valuation date
are initially recorded at cost until their estimated fair value as of the purchase date becomes available.
2. Book value. This amount was eliminated when preparing the Federal Reserve Bank of New York's statement
of condition consistent with consolidation under generally accepted accounting principles. Refer to the
note on consolidation accompanying table 10.
3. Book value. The deferred payment represents the portion of the proceeds of the net portfolio holdings due
to subsidiaries of American International Group, Inc. in accordance with the asset purchase agreement.
The fair value of this payment and accrued interest payable are included in other liabilities and capital
in table 1 and in other liabilities and accrued dividends in table 9 and table 10.
Note: On December 12, 2008, the Federal Reserve Bank of New York (FRBNY) began extending credit to Maiden
Lane II LLC under the authority of section 13(3) of the Federal Reserve Act. This limited liability company
was formed to purchase residential mortgage-backed securities from the U.S. securities lending reinvestment
portfolio of subsidiaries of American International Group, Inc. (AIG subsidiaries). Payments by Maiden
Lane II LLC from the proceeds of the net portfolio holdings will be made in the following order: operating
expenses of Maiden Lane II LLC, principal due to the FRBNY, interest due to the FRBNY, and deferred payment
and interest due to AIG subsidiaries. Any remaining funds will be shared by the FRBNY and AIG subsidiaries.
6. Information on Principal Accounts of Maiden Lane III LLC
Millions of dollars
Wednesday
Account name Nov 25, 2009
Net portfolio holdings of Maiden Lane III LLC (1) 22,961
Outstanding principal amount of loan extended by the Federal Reserve Bank of New York (2) 18,615
Accrued interest payable to the Federal Reserve Bank of New York (2) 319
Outstanding principal amount and accrued interest on loan payable to American International
Group, Inc. (3) 5,177
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, 2009. Any assets purchased after this valuation date
are initially recorded at cost until their estimated fair value as of the purchase date becomes available.
2. Book value. This amount was eliminated when preparing the Federal Reserve Bank of New York's statement
of condition consistent with consolidation under generally accepted accounting principles. Refer to the
note on consolidation accompanying table 10.
3. Book value. The fair value of these obligations is included in other liabilities and capital in table 1
and in other liabilities and accrued dividends in table 9 and table 10.
Note: On November 25, 2008, the Federal Reserve Bank of New York (FRBNY) began extending credit to Maiden Lane
III LLC under the authority of section 13(3) of the Federal Reserve Act. This limited liability company was
formed to purchase multi-sector collateralized debt obligations (CDOs) on which the Financial Products group
of American International Group, Inc. (AIG) has written credit default swap (CDS) contracts. In connection
with the purchase of CDOs, the CDS counterparties will concurrently unwind the related CDS transactions.
Payments by Maiden Lane III LLC from the proceeds of the net portfolio holdings will be made in the following
order: operating expenses of Maiden Lane III LLC, principal due to the FRBNY, interest due to the FRBNY,
principal due to AIG, and interest due to AIG. Any remaining funds will be shared by the FRBNY and AIG.
7. Information on Principal Accounts of Commercial Paper Funding Facility LLC
Millions of dollars
Wednesday
Account name Nov 25, 2009
Commercial paper holdings, net (1) 10,232
Other investments, net 4,814
Net portfolio holdings of Commercial Paper Funding Facility LLC 15,046
Memorandum: Commercial paper holdings, face value 10,499
Outstanding principal amount of loan extended by the Federal Reserve Bank of New York (2) 10,425
Accrued interest payable to the Federal Reserve Bank of New York (2) 2
1. Book value, which includes amortized cost and related fees.
2. Book value. This amount was eliminated when preparing the Federal Reserve Bank of New York's statement of
condition consistent with consolidation under generally accepted accounting principles. Refer to the
note on consolidation accompanying table 10.
Note: On October 27, 2008, the Federal Reserve Bank of New York began extending loans under the authority of
section 13(3) of the Federal Reserve Act to Commercial Paper Funding Facility LLC. This LLC is a limited
liability company formed to purchase three-month U.S. dollar-denominated commercial paper from eligible issuers
and thereby foster liquidity in short-term funding markets and increase the availability of credit for
businesses and households.
8. Information on Principal Accounts of TALF LLC
Millions of dollars
Wednesday
Account name Nov 25, 2009
Asset-backed securities holdings (1) 0
Other investments, net 266
Net portfolio holdings of TALF LLC 266
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) 102
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 $20 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.
9. Consolidated Statement of Condition of All Federal Reserve Banks
Millions of dollars
Eliminations Change since
from Wednesday Wednesday Wednesday
Assets, liabilities, and capital consolidation Nov 25, 2009 Nov 18, 2009 Nov 26, 2008
Assets
Gold certificate account 11,037 0 0
Special drawing rights certificate account 5,200 0 + 3,000
Coin 2,016 - 21 + 374
Securities, repurchase agreements, term auction
credit, and other loans 1,994,313 - 294 + 760,128
Securities held outright (1) 1,783,726 + 7,108 +1,295,098
U.S. Treasury securities 776,535 + 8 + 300,128
Bills (2) 18,423 0 0
Notes and bonds, nominal (2) 707,649 0 + 297,158
Notes and bonds, inflation-indexed (2) 44,643 0 + 3,572
Inflation compensation (3) 5,821 + 8 - 601
Federal agency debt securities (2) 155,066 + 2,017 + 142,845
Mortgage-backed securities (4) 852,124 + 5,082 + 852,124
Repurchase agreements (5) 0 0 - 80,000
Term auction credit 101,009 - 8,447 - 305,499
Other loans 109,578 + 1,046 - 149,470
Net portfolio holdings of Commercial Paper
Funding Facility LLC (6) 15,046 + 3 - 279,048
Net portfolio holdings of Maiden Lane LLC (7) 26,361 + 12 - 618
Net portfolio holdings of Maiden Lane II LLC (8) 15,845 + 79 + 15,845
Net portfolio holdings of
Maiden Lane III LLC (9) 22,961 + 10 + 1,813
Net portfolio holdings of TALF LLC (10) 266 + 35 + 266
Items in process of collection (232) 639 + 189 - 457
Bank premises 2,226 - 2 + 46
Central bank liquidity swaps (11) 25,811 - 2,467 - 449,624
Other assets (12) 87,847 + 83 + 50,191
Total assets (232) 2,209,567 - 2,372 + 101,916
Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table.
9. Consolidated Statement of Condition of All Federal Reserve Banks (continued)
Millions of dollars
Eliminations Change since
from Wednesday Wednesday Wednesday
Assets, liabilities, and capital consolidation Nov 25, 2009 Nov 18, 2009 Nov 26, 2008
Liabilities
Federal Reserve notes, net of F.R. Bank holdings 883,034 + 3,677 + 47,951
Reverse repurchase agreements (13) 58,483 - 1,423 - 41,278
Deposits (0) 1,200,735 - 5,085 + 83,475
Depository institutions 1,168,570 + 59,301 + 557,375
U.S. Treasury, general account 12,997 - 49,312 - 4,358
U.S. Treasury, supplementary financing account 14,999 0 - 464,055
Foreign official 2,126 - 831 + 1,939
Other (0) 2,042 - 14,243 - 7,428
Deferred availability cash items (232) 2,281 - 63 - 330
Other liabilities and accrued dividends (14) 12,220 - 464 + 2,170
Total liabilities (232) 2,156,754 - 3,357 + 91,989
Capital accounts
Capital paid in 25,423 + 61 + 4,552
Surplus 21,440 + 9 + 4,270
Other capital accounts 5,951 + 917 + 1,107
Total capital 52,814 + 986 + 9,928
Note: Components may not sum to totals because of rounding.
1. Includes securities lent to dealers under the overnight and term securities lending facilities; refer
to table 1A.
2. Face value of the securities.
3. Compensation that adjusts for the effect of inflation on the original face value of inflation-indexed
securities.
4. Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. Current face value of the securities, which is
the remaining principal balance of the underlying mortgages.
5. Cash value of agreements, which are collateralized by U.S. Treasury and federal agency securities.
6. Refer to table 7 and the note on consolidation accompanying table 10.
7. Refer to table 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 8 and the note on consolidation accompanying table 10.
11. Dollar value of foreign currency held under these agreements valued at the exchange rate to be used when
the foreign currency is returned to the foreign central bank. This exchange rate equals the market
exchange rate used when the foreign currency was acquired from the foreign central bank.
12. Includes other assets denominated in foreign currencies, which are revalued daily at market exchange rates.
13. Cash value of agreements, which are collateralized by U.S. Treasury securities.
14. Includes the liabilities of Commercial Paper Funding Facility LLC, 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 8 and the note on consolidation accompanying table 10.
10. Statement of Condition of Each Federal Reserve Bank, November 25, 2009
Millions of dollars
Kansas San
Assets, liabilities, and capital Total Boston New York Philadelphia Cleveland Richmond Atlanta Chicago St. Louis Minneapolis City Dallas Francisco
Assets
Gold certificate account 11,037 412 3,895 450 467 882 1,356 911 329 197 335 621 1,182
Special drawing rights certificate acct. 5,200 196 1,818 210 237 412 654 424 150 90 153 282 574
Coin 2,016 67 78 163 147 286 234 270 33 61 136 216 325
Securities, repurchase agreements, term
auction credit, and other loans 1,994,313 41,701 879,353 32,458 72,341 65,562 215,623 195,695 71,052 29,864 81,492 86,802 222,368
Securities held outright (1) 1,783,726 34,217 697,215 27,673 70,471 64,280 214,914 193,018 69,880 29,530 80,516 86,246 215,765
U.S. Treasury securities 776,535 14,896 303,529 12,047 30,679 27,984 93,562 84,029 30,422 12,856 35,052 37,547 93,932
Bills (2) 18,423 353 7,201 286 728 664 2,220 1,994 722 305 832 891 2,228
Notes and bonds (3) 758,113 14,543 296,328 11,761 29,952 27,320 91,342 82,036 29,700 12,551 34,221 36,656 91,704
Federal agency debt securities (2) 155,066 2,975 60,611 2,406 6,126 5,588 18,683 16,780 6,075 2,567 7,000 7,498 18,757
Mortgage-backed securities (4) 852,124 16,346 333,074 13,220 33,666 30,708 102,669 92,209 33,383 14,107 38,464 41,201 103,076
Repurchase agreements (5) 0 0 0 0 0 0 0 0 0 0 0 0 0
Term auction credit 101,009 7,342 74,075 4,578 1,867 1,143 384 2,240 1,138 280 965 550 6,449
Other loans 109,578 142 108,064 207 3 139 325 438 34 54 11 7 154
Net portfolio holdings of Commercial
Paper Funding Facility LLC (6) 15,046 0 15,046 0 0 0 0 0 0 0 0 0 0
Net portfolio holdings of Maiden Lane
LLC (7) 26,361 0 26,361 0 0 0 0 0 0 0 0 0 0
Net portfolio holdings of Maiden
Lane II LLC (8) 15,845 0 15,845 0 0 0 0 0 0 0 0 0 0
Net portfolio holdings of Maiden
Lane III LLC (9) 22,961 0 22,961 0 0 0 0 0 0 0 0 0 0
Net portfolio holdings of TALF LLC (10) 266 0 266 0 0 0 0 0 0 0 0 0 0
Items in process of collection 871 22 0 100 167 43 313 38 42 36 23 44 43
Bank premises 2,226 120 250 70 145 237 221 206 134 111 269 252 212
Central bank liquidity swaps (11) 25,811 1,051 6,547 2,883 1,933 7,448 2,007 876 261 404 259 337 1,804
Other assets (12) 87,847 2,268 31,008 4,020 4,370 9,880 9,338 7,411 2,640 1,437 3,006 3,294 9,174
Interdistrict settlement account 0 + 14,623 + 32,049 + 22,105 - 18,727 + 245,878 - 75,776 - 87,275 - 35,347 - 8,557 - 30,863 - 19,546 - 38,566
Total assets 2,209,799 60,461 1,035,477 62,459 61,080 330,628 153,970 118,557 39,293 23,643 54,810 72,303 197,118
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 25, 2009 (continued)
Millions of dollars
Kansas San
Assets, liabilities, and capital Total Boston New York Philadelphia Cleveland Richmond Atlanta Chicago St. Louis Minneapolis City Dallas Francisco
Liabilities
Federal Reserve notes outstanding 1,080,008 35,914 397,304 38,850 45,135 82,476 135,850 85,485 30,646 19,398 28,791 63,321 116,840
Less: Notes held by F.R. Banks 196,974 4,283 71,004 6,145 8,840 11,159 31,215 13,109 4,365 2,883 3,220 13,865 26,886
Federal Reserve notes, net 883,034 31,630 326,300 32,704 36,295 71,317 104,635 72,376 26,281 16,514 25,570 49,456 89,954
Reverse repurchase agreements (13) 58,483 1,122 22,859 907 2,311 2,108 7,046 6,328 2,291 968 2,640 2,828 7,074
Deposits 1,200,735 25,545 662,243 22,939 18,022 242,124 37,983 37,672 9,894 4,191 25,779 18,836 95,507
Depository institutions 1,168,570 25,524 630,294 22,934 18,018 242,015 37,980 37,625 9,890 4,191 25,778 18,835 95,487
U.S. Treasury, general account 12,997 0 12,997 0 0 0 0 0 0 0 0 0 0
U.S. Treasury, supplementary
financing account 14,999 0 14,999 0 0 0 0 0 0 0 0 0 0
Foreign official 2,126 2 2,097 4 3 11 3 1 0 1 0 1 3
Other 2,042 20 1,856 0 1 98 0 45 4 0 1 0 17
Deferred availability cash items 2,513 63 0 387 324 103 300 175 59 370 113 134 485
Other liabilities and accrued
dividends (14) 12,220 173 8,382 215 285 585 619 514 233 148 220 275 572
Total liabilities 2,156,985 58,533 1,019,784 57,152 57,237 316,237 150,584 117,066 38,758 22,191 54,323 71,529 193,592
Capital
Capital paid in 25,423 945 7,427 2,627 1,910 7,136 1,579 622 240 712 209 350 1,667
Surplus 21,440 844 5,967 2,316 1,551 5,983 1,612 704 209 324 207 271 1,450
Other capital 5,951 139 2,299 364 381 1,273 196 165 87 416 70 153 409
Total liabilities and capital 2,209,799 60,461 1,035,477 62,459 61,080 330,628 153,970 118,557 39,293 23,643 54,810 72,303 197,118
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 25, 2009 (continued)
1. Includes securities lent to dealers under the overnight and term securities lending facilities; refer to table 1A.
2. Face value of the securities.
3. Includes the original face value of inflation-indexed securities and compensation that adjusts for the effect of inflation on the original face value of such securities.
4. Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. Current face value of the securities, which is the remaining principal balance of the underlying mortgages.
5. Cash value of agreements, which are collateralized by U.S. Treasury and federal agency securities.
6. Refer to table 7 and the note on consolidation below.
7. Refer to table 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 8 and the note on consolidation below.
11. Dollar value of foreign currency held under these agreements valued at the exchange rate to be used when the foreign currency is returned to the foreign central bank. This
exchange rate equals the market exchange rate used when the foreign currency was acquired from the foreign central bank.
12. Includes other assets denominated in foreign currencies, which are revalued daily at market exchange rates.
13. Cash value of agreements, which are collateralized by U.S. Treasury securities.
14. Includes the liabilities of Commercial Paper Funding Facility LLC, 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 8 and the note on consolidation below.
Note on consolidation:
The Federal Reserve Bank of New York (FRBNY) has extended loans to several limited liability companies under the authority of section 13(3) of the Federal Reserve Act. On June 26, 2008,
a loan was extended to Maiden Lane LLC, which was formed to acquire certain assets of Bear Stearns. On October 27, 2008, the FRBNY began extending loans to Commercial Paper Funding
Facility LLC, which was formed to purchase three-month U.S. dollar-denominated commercial paper from eligible issuers. On 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 sole beneficiary of Commercial Paper Funding Facility LLC. 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 25, 2009
Federal Reserve notes outstanding 1,080,008
Less: Notes held by F.R. Banks not subject to collateralization 196,974
Federal Reserve notes to be collateralized 883,034
Collateral held against Federal Reserve notes 883,034
Gold certificate account 11,037
Special drawing rights certificate account 5,200
U.S. Treasury, agency debt, and mortgage-backed securities pledged (1,2) 866,797
Other assets pledged 0
Memo:
Total U.S. Treasury, agency debt, and mortgage-backed securities (1,2) 1,783,726
Less: Face value of securities under reverse repurchase agreements 57,769
U.S. Treasury, agency debt, and mortgage-backed securities
eligible to be pledged 1,725,956
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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