FEDERAL RESERVE statistical release H.4.1 Factors Affecting Reserve Balances of Depository Institutions and Condition Statement of Federal Reserve Banks March 4, 2010 1. Factors Affecting Reserve Balances of Depository Institutions Millions of dollars Reserve Bank credit, related items, and Averages of daily figures Wednesday reserve balances of depository institutions at Week ended Change from week ended Mar 3, 2010 Federal Reserve Banks Mar 3, 2010 Feb 24, 2010 Mar 4, 2009 Reserve Bank credit 2,262,718 - 6,710 + 371,509 2,262,079 Securities held outright (1) 1,970,843 - 4,441 +1,389,122 1,970,892 U.S. Treasury securities 776,542 - 15 + 301,935 776,553 Bills (2) 18,423 0 0 18,423 Notes and bonds, nominal (2) 708,872 0 + 295,958 708,872 Notes and bonds, inflation-indexed (2) 43,777 0 + 4,399 43,777 Inflation compensation (3) 5,471 - 14 + 1,578 5,481 Federal agency debt securities (2) 167,511 + 1,519 + 129,259 167,511 Mortgage-backed securities (4) 1,026,789 - 5,946 + 957,927 1,026,828 Repurchase agreements (5) 0 0 0 0 Term auction credit 15,425 0 - 477,720 15,425 Other loans 86,548 - 659 - 54,397 85,998 Primary credit 13,773 - 187 - 52,188 13,731 Secondary credit 800 - 14 + 800 800 Seasonal credit 4 + 4 + 2 9 Primary dealer and other broker-dealer credit (6) 0 0 - 23,799 0 Asset-Backed Commercial Paper Money Market Mutual Fund Liquidity Facility 0 0 - 9,531 0 Credit extended to American International Group, Inc., net (7) 25,210 - 263 - 16,442 25,109 Term Asset-Backed Securities Loan Facility, net (8) 46,762 - 198 + 46,762 46,349 Other credit extensions 0 0 0 0 Net portfolio holdings of Commercial Paper Funding Facility LLC (9) 7,742 + 18 - 234,310 7,746 Net portfolio holdings of Maiden Lane LLC (10) 27,235 + 24 + 1,246 27,260 Net portfolio holdings of Maiden Lane II LLC (11) 15,552 + 64 - 3,103 15,563 Net portfolio holdings of Maiden Lane III LLC (12) 22,407 + 14 - 5,295 22,435 Net portfolio holdings of TALF LLC (13) 372 + 22 + 372 372 Preferred interests in AIA Aurora LLC and ALICO Holdings LLC (14) 25,106 0 + 25,106 25,106 Float -1,840 - 126 + 454 -2,388 Central bank liquidity swaps (15) 0 0 - 320,389 0 Other Federal Reserve assets (16) 93,328 - 1,625 + 50,424 93,671 Gold stock 11,041 0 0 11,041 Special drawing rights certificate account 5,200 0 + 3,000 5,200 Treasury currency outstanding (17) 42,803 + 14 + 625 42,803 Total factors supplying reserve funds 2,321,762 - 6,696 + 375,134 2,321,124 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 Wednesday reserve balances of depository institutions at Week ended Change from week ended Mar 3, 2010 Federal Reserve Banks Mar 3, 2010 Feb 24, 2010 Mar 4, 2009 Currency in circulation (17) 931,927 + 238 + 33,435 933,237 Reverse repurchase agreements (18) 56,575 + 1,271 - 16,050 55,205 Foreign official and international accounts 56,575 + 1,271 - 16,050 55,205 Dealers 0 0 0 0 Treasury cash holdings 200 - 4 - 84 205 Deposits with F.R. Banks, other than reserve balances 69,968 + 24,675 - 206,351 84,122 U.S. Treasury, general account 38,894 + 6,003 - 13,519 53,279 U.S. Treasury, supplementary financing account 24,997 + 19,997 - 174,953 24,997 Foreign official 2,937 - 1,055 + 1,390 2,795 Service-related 2,741 - 5 - 1,725 2,741 Required clearing balances 2,741 - 5 - 1,725 2,741 Adjustments to compensate for float 0 0 0 0 Other 399 - 265 - 17,543 310 Other liabilities and capital (19) 66,374 - 2,011 + 15,042 65,347 Total factors, other than reserve balances, absorbing reserve funds 1,125,044 + 24,169 - 174,007 1,138,117 Reserve balances with Federal Reserve Banks 1,196,718 - 30,866 + 549,142 1,183,007 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 11. 10. Refer to table 4 and the note on consolidation accompanying table 11. 11. Refer to table 5 and the note on consolidation accompanying table 11. 12. Refer to table 6 and the note on consolidation accompanying table 11. 13. Refer to table 8 and the note on consolidation accompanying table 11. 14. Refer to table 9. 15. 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. 16. Includes other assets denominated in foreign currencies, which are revalued daily at market exchange rates, and accrued dividends on the Federal Reserve Bank of New York's preferred interests in AIA Aurora LLC and ALICO Holdings LLC. 17. Estimated. 18. Cash value of agreements, which are collateralized by U.S. Treasury securities and federal agency debt securities. 19. 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 11. Sources: Federal Reserve Banks and the U.S. Department of the Treasury. 1A. Memorandum Items Millions of dollars Averages of daily figures Wednesday Week ended Change from week ended Mar 3, 2010 Memorandum item Mar 3, 2010 Feb 24, 2010 Mar 4, 2009 Marketable securities held in custody for foreign official and international accounts (1) 2,968,916 + 4,350 + 372,476 2,974,441 U.S. Treasury securities 2,201,036 + 4,301 + 421,780 2,205,525 Federal agency securities (2) 767,880 + 49 - 49,304 768,916 Securities lent to dealers 5,493 + 414 - 112,360 5,793 Overnight facility (3) 5,493 + 414 - 190 5,793 U.S. Treasury securities 4,590 + 307 - 1,093 4,894 Federal agency debt securities 904 + 108 + 904 899 Term facility (4) 0 0 - 112,170 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, March 3, 2010 Millions of dollars Within 15 16 days to 91 days to Over 1 year Over 5 years Over 10 All Remaining maturity days 90 days 1 year to 5 years to 10 years years Term auction credit 15,425 0 ... ... ... ... 15,425 Other loans (1) 14,422 118 0 71,458 0 ... 85,998 U.S. Treasury securities (2) Holdings 13,013 28,272 44,019 333,475 214,048 143,726 776,553 Weekly changes - 4,528 + 4,084 + 3,477 - 3,818 + 787 + 2 + 4 Federal agency debt securities (3) Holdings 1,523 2,273 23,466 103,372 34,530 2,347 167,511 Weekly changes + 1,523 - 861 + 208 + 108 0 0 + 978 Mortgage-backed securities (4) Holdings 0 0 0 17 20 1,026,790 1,026,828 Weekly changes 0 0 0 - 1 - 1 - 5,731 - 5,732 Commercial paper held by Commercial Paper Funding Facility LLC (5) 0 2,966 0 ... ... ... 2,966 Asset-backed securities held by TALF LLC (6) 0 0 0 0 0 0 0 Repurchase agreements (7) 0 0 ... ... ... ... 0 Reverse repurchase agreements (7) 55,205 0 ... ... ... ... 55,205 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. 3. Supplemental Information on Mortgage-Backed Securities Purchase Program Millions of dollars Wednesday Account name Mar 3, 2010 Mortgage-backed securities held outright (1) 1,026,828 Commitments to buy mortgage-backed securities (2) 121,796 Commitments to sell mortgage-backed securities (2) 0 Cash and cash equivalents (3) 176 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 10 and table 11. 4. Information on Principal Accounts of Maiden Lane LLC Millions of dollars Wednesday Account name Mar 3, 2010 Net portfolio holdings of Maiden Lane LLC (1) 27,260 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) 440 Outstanding principal amount and accrued interest on loan payable to JPMorgan Chase & Co. (3) 1,259 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, 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 11. 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 10 and table 11. 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 Mar 3, 2010 Net portfolio holdings of Maiden Lane II LLC (1) 15,563 Outstanding principal amount of loan extended by the Federal Reserve Bank of New York (2) 15,207 Accrued interest payable to the Federal Reserve Bank of New York (2) 299 Deferred payment and accrued interest payable to subsidiaries of American International Group, Inc. (3) 1,042 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, 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 11. 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 10 and table 11. 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 Mar 3, 2010 Net portfolio holdings of Maiden Lane III LLC (1) 22,435 Outstanding principal amount of loan extended by the Federal Reserve Bank of New York (2) 17,367 Accrued interest payable to the Federal Reserve Bank of New York (2) 378 Outstanding principal amount and accrued interest on loan payable to American International Group, Inc. (3) 5,222 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, 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 11. 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 10 and table 11. 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 Mar 3, 2010 Commercial paper holdings, net (1) 2,869 Other investments, net 4,877 Net portfolio holdings of Commercial Paper Funding Facility LLC 7,746 Memorandum: Commercial paper holdings, face value 2,966 Outstanding principal amount of loan extended by the Federal Reserve Bank of New York (2) 2,942 Accrued interest payable to the Federal Reserve Bank of New York (2) 1 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 11. 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 Mar 3, 2010 Asset-backed securities holdings (1) 0 Other investments, net 372 Net portfolio holdings of TALF LLC 372 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) 103 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 11. 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 10 and table 11. 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. Supplemental Information on the Federal Reserve Bank of New York's Preferred Interests in AIA Aurora LLC and ALICO Holdings LLC Millions of dollars Wednesday Account name Mar 3, 2010 Preferred interests in AIA Aurora LLC and ALICO Holdings LLC (1) 25,106 Accrued dividends on preferred interests in AIA Aurora LLC and ALICO Holdings LLC (2) 213 Preferred interests in AIA Aurora LLC (1) 16,068 Accrued dividends on preferred interests in AIA Aurora LLC (2) 136 Preferred interests in ALICO Holdings LLC (1) 9,038 Accrued dividends on preferred interests in ALICO Holdings LLC (2) 77 Note: Components may not sum to totals because of rounding. 1. Book value. 2. This amount is included in other Federal Reserve assets in table 1 and in other assets in table 10 and table 11. Note on preferred interests: In conjunction with the restructuring of the government's assistance to American International Group, Inc. (AIG) announced March 2, 2009, the outstanding balance and amount available of revolving credit provided to AIG by the FRBNY has been reduced in exchange for preferred interests in two special purpose vehicles, AIA Aurora LLC and ALICO Holdings LLC. These two limited liability companies were created to directly or indirectly hold all of the outstanding common stock of American International Assurance Company Ltd. (AIA) and American Life Insurance Company (ALICO), two life insurance subsidiaries of AIG. AIG will retain control of AIA Aurora LLC and ALICO Holdings LLC, and the FRBNY will have certain consent, disposition, and conversion rights with respect to its preferred interests. Dividends accrue as a percentage of the FRBNY's preferred interests in AIA Aurora LLC and ALICO Holdings LLC. On a quarterly basis, the accrued dividends are capitalized and added to the FRBNY's preferred interests in AIA Aurora LLC and ALICO Holdings LLC. 10. Consolidated Statement of Condition of All Federal Reserve Banks Millions of dollars Eliminations from Wednesday Change since consolidation Mar 3, 2010 Wednesday Wednesday Assets, liabilities, and capital Feb 24, 2010 Mar 4, 2009 Assets Gold certificate account 11,037 0 0 Special drawing rights certificate account 5,200 0 + 3,000 Coin 2,150 - 16 + 302 Securities, repurchase agreements, term auction credit, and other loans 2,072,315 - 4,778 + 857,068 Securities held outright (1) 1,970,892 - 4,749 +1,389,133 U.S. Treasury securities 776,553 + 4 + 301,934 Bills (2) 18,423 0 0 Notes and bonds, nominal (2) 708,872 0 + 295,958 Notes and bonds, inflation-indexed (2) 43,777 0 + 4,399 Inflation compensation (3) 5,481 + 4 + 1,576 Federal agency debt securities (2) 167,511 + 978 + 129,273 Mortgage-backed securities (4) 1,026,828 - 5,732 + 957,926 Repurchase agreements (5) 0 0 0 Term auction credit 15,425 0 - 477,720 Other loans 85,998 - 28 - 54,345 Net portfolio holdings of Commercial Paper Funding Facility LLC (6) 7,746 + 12 - 233,550 Net portfolio holdings of Maiden Lane LLC (7) 27,260 + 45 + 1,153 Net portfolio holdings of Maiden Lane II LLC (8) 15,563 + 71 - 3,145 Net portfolio holdings of Maiden Lane III LLC (9) 22,435 + 36 - 5,310 Net portfolio holdings of TALF LLC (10) 372 0 + 372 Preferred interests in AIA Aurora LLC and ALICO Holdings LLC (11) 25,106 0 + 25,106 Items in process of collection (80) 334 - 76 - 371 Bank premises 2,236 - 6 + 54 Central bank liquidity swaps (12) 0 0 - 315,211 Other assets (13) 91,769 - 1,270 + 51,257 Total assets (80) 2,283,522 - 5,982 + 380,724 Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table. 10. Consolidated Statement of Condition of All Federal Reserve Banks (continued) Millions of dollars Eliminations from Wednesday Change since consolidation Mar 3, 2010 Wednesday Wednesday Assets, liabilities, and capital Feb 24, 2010 Mar 4, 2009 Liabilities Federal Reserve notes, net of F.R. Bank holdings 892,784 + 722 + 32,314 Reverse repurchase agreements (14) 55,205 - 1,358 - 16,057 Deposits (0) 1,267,463 - 4,749 + 351,563 Depository institutions 1,186,082 - 62,841 + 566,369 U.S. Treasury, general account 53,279 + 40,357 - 15,003 U.S. Treasury, supplementary financing account 24,997 + 19,997 - 174,953 Foreign official 2,795 - 1,838 + 1,155 Other (0) 310 - 423 - 26,005 Deferred availability cash items (80) 2,722 + 588 - 932 Other liabilities and accrued dividends (15) 12,072 - 1,177 + 3,259 Total liabilities (80) 2,230,246 - 5,973 + 370,148 Capital accounts Capital paid in 25,855 + 57 + 3,661 Surplus 25,474 + 199 + 5,207 Other capital accounts 1,947 - 265 + 1,709 Total capital 53,276 - 9 + 10,577 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 11. 7. Refer to table 4 and the note on consolidation accompanying table 11. 8. Refer to table 5 and the note on consolidation accompanying table 11. 9. Refer to table 6 and the note on consolidation accompanying table 11. 10. Refer to table 8 and the note on consolidation accompanying table 11. 11. Refer to 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 accrued dividends on the Federal Reserve Bank of New York's preferred interests in AIA Aurora LLC and ALICO Holdings LLC. 14. Cash value of agreements, which are collateralized by U.S. Treasury securities and federal agency debt securities. 15. 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 11. 11. Statement of Condition of Each Federal Reserve Bank, March 3, 2010 Millions of dollars Total Boston New York Philadelphia Cleveland Richmond Atlanta Chicago St. Louis Minneapolis Kansas Dallas San Assets, liabilities, and capital City 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 2,150 74 83 174 160 313 208 332 31 66 146 213 349 Securities, repurchase agreements, term auction credit, and other loans 2,072,315 37,876 866,532 31,070 77,975 71,458 238,205 214,211 77,396 32,794 88,999 95,898 239,899 Securities held outright (1) 1,970,892 37,808 770,373 30,577 77,866 71,025 237,465 213,272 77,212 32,629 88,964 95,295 238,406 U.S. Treasury securities 776,553 14,897 303,535 12,047 30,680 27,985 93,564 84,031 30,422 12,856 35,053 37,547 93,934 Bills (2) 18,423 353 7,201 286 728 664 2,220 1,994 722 305 832 891 2,228 Notes and bonds (3) 758,130 14,543 296,334 11,762 29,952 27,321 91,344 82,038 29,701 12,551 34,221 36,657 91,706 Federal agency debt securities (2) 167,511 3,213 65,476 2,599 6,618 6,037 20,183 18,126 6,562 2,773 7,561 8,099 20,263 Mortgage-backed securities (4) 1,026,828 19,698 401,362 15,930 40,568 37,004 123,719 111,114 40,227 17,000 46,350 49,649 124,209 Repurchase agreements (5) 0 0 0 0 0 0 0 0 0 0 0 0 0 Term auction credit 15,425 25 10,571 456 109 363 678 794 183 132 35 600 1,479 Other loans 85,998 43 85,588 38 0 70 62 145 1 33 0 3 15 Net portfolio holdings of Commercial Paper Funding Facility LLC (6) 7,746 0 7,746 0 0 0 0 0 0 0 0 0 0 Net portfolio holdings of Maiden Lane LLC (7) 27,260 0 27,260 0 0 0 0 0 0 0 0 0 0 Net portfolio holdings of Maiden Lane II LLC (8) 15,563 0 15,563 0 0 0 0 0 0 0 0 0 0 Net portfolio holdings of Maiden Lane III LLC (9) 22,435 0 22,435 0 0 0 0 0 0 0 0 0 0 Net portfolio holdings of TALF LLC (10) 372 0 372 0 0 0 0 0 0 0 0 0 0 Preferred interests in AIA Aurora LLC and ALICO Holdings LLC (11) 25,106 0 25,106 0 0 0 0 0 0 0 0 0 0 Items in process of collection 414 30 0 37 126 11 47 25 5 41 16 41 34 Bank premises 2,236 121 260 70 143 237 220 207 136 110 267 252 213 Central bank liquidity swaps (12) 0 0 0 0 0 0 0 0 0 0 0 0 0 Other assets (13) 91,769 2,228 33,386 3,931 4,488 9,555 9,490 7,692 2,822 1,817 3,182 3,549 9,630 Interdistrict settlement account 0 + 4,312 + 94,900 + 46,108 - 21,926 + 219,935 - 93,552 - 100,182 - 36,874 - 10,513 - 33,235 - 25,909 - 43,064 Total assets 2,283,601 45,250 1,099,356 82,050 61,671 302,804 156,628 123,619 43,994 24,602 59,862 74,947 208,818 Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table. 11. Statement of Condition of Each Federal Reserve Bank, March 3, 2010 (continued) Millions of dollars Total Boston New York Philadelphia Cleveland Richmond Atlanta Chicago St. Louis Minneapolis Kansas Dallas San Assets, liabilities, and capital City Francisco Liabilities Federal Reserve notes outstanding 1,079,356 35,303 394,648 38,735 44,411 81,938 137,621 85,281 32,639 19,704 28,601 64,847 115,629 Less: Notes held by F.R. Banks 186,572 4,511 65,778 5,654 7,459 10,394 32,796 11,473 3,886 2,918 3,346 12,542 25,814 Federal Reserve notes, net 892,784 30,792 328,869 33,081 36,953 71,544 104,825 73,808 28,753 16,785 25,255 52,305 89,815 Reverse repurchase agreements (14) 55,205 1,059 21,578 856 2,181 1,989 6,651 5,974 2,163 914 2,492 2,669 6,678 Deposits 1,267,463 11,231 724,758 42,186 17,468 214,466 40,915 41,618 12,236 4,989 31,279 18,708 107,610 Depository institutions 1,186,082 11,220 643,501 42,181 17,465 214,384 40,913 41,606 12,234 4,988 31,278 18,707 107,606 U.S. Treasury, general account 53,279 0 53,279 0 0 0 0 0 0 0 0 0 0 U.S. Treasury, supplementary financing account 24,997 0 24,997 0 0 0 0 0 0 0 0 0 0 Foreign official 2,795 1 2,767 4 3 11 2 1 0 1 0 1 3 Other 310 10 213 0 0 71 0 11 2 0 1 0 2 Deferred availability cash items 2,802 96 0 236 865 104 186 189 64 308 114 132 508 Other liabilities and accrued dividends (15) 12,072 176 8,206 196 280 495 639 560 240 146 233 295 604 Total liabilities 2,230,326 43,354 1,083,411 76,556 57,747 288,598 153,217 122,149 43,455 23,143 59,372 74,108 205,216 Capital Capital paid in 25,855 914 7,531 2,855 1,922 7,128 1,599 645 236 712 207 407 1,698 Surplus 25,474 945 7,499 2,640 1,910 7,078 1,581 620 240 712 210 353 1,687 Other capital 1,947 37 914 0 91 0 231 206 63 35 74 78 216 Total liabilities and capital 2,283,601 45,250 1,099,356 82,050 61,671 302,804 156,628 123,619 43,994 24,602 59,862 74,947 208,818 Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table. 11. Statement of Condition of Each Federal Reserve Bank, March 3, 2010 (continued) 1. Includes securities lent to dealers under the overnight and term securities lending facilities; refer to table 1A. 2. Face value of the securities. 3. Includes the original face value of inflation-indexed securities and compensation that adjusts for the effect of inflation on the original face value of such securities. 4. Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. Current face value of the securities, which is the remaining principal balance of the underlying mortgages. 5. Cash value of agreements, which are collateralized by U.S. Treasury and federal agency securities. 6. 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. Refer to 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 accrued dividends on the Federal Reserve Bank of New York's preferred interests in AIA Aurora LLC and ALICO Holdings LLC. 14. Cash value of agreements, which are collateralized by U.S. Treasury securities and federal agency debt securities. 15. 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 10), 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 10). 12. Collateral Held against Federal Reserve Notes: Federal Reserve Agents' Accounts Millions of dollars Wednesday Federal Reserve notes and collateral Mar 3, 2010 Federal Reserve notes outstanding 1,079,356 Less: Notes held by F.R. Banks not subject to collateralization 186,572 Federal Reserve notes to be collateralized 892,784 Collateral held against Federal Reserve notes 892,784 Gold certificate account 11,037 Special drawing rights certificate account 5,200 U.S. Treasury, agency debt, and mortgage-backed securities pledged (1,2) 876,547 Other assets pledged 0 Memo: Total U.S. Treasury, agency debt, and mortgage-backed securities (1,2) 1,970,892 Less: Face value of securities under reverse repurchase agreements 54,514 U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 1,916,378 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.