FEDERAL RESERVE statistical release H.4.1 Factors Affecting Reserve Balances of Depository Institutions and Condition Statement of Federal Reserve Banks May 17, 2012 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 May 16, 2012 Federal Reserve Banks May 16, 2012 May 9, 2012 May 18, 2011 Reserve Bank credit 2,840,421 - 4,826 + 100,958 2,833,829 Securities held outright (1) 2,608,829 + 1,233 + 76,438 2,609,188 U.S. Treasury securities 1,660,947 - 4,254 + 177,352 1,656,793 Bills (2) 18,423 0 0 18,423 Notes and bonds, nominal (2) 1,565,527 - 5,805 + 167,865 1,561,325 Notes and bonds, inflation-indexed (2) 67,654 + 1,328 + 7,679 67,654 Inflation compensation (3) 9,343 + 223 + 1,808 9,392 Federal agency debt securities (2) 94,455 - 116 - 28,794 94,166 Mortgage-backed securities (4) 853,426 + 5,602 - 72,120 858,229 Repurchase agreements (5) 0 0 0 0 Loans 6,429 - 53 - 8,589 6,393 Primary credit 10 - 4 + 7 16 Secondary credit 0 0 0 0 Seasonal credit 28 + 2 + 10 25 Term Asset-Backed Securities Loan Facility (6) 6,391 - 51 - 8,607 6,352 Other credit extensions 0 0 0 0 Net portfolio holdings of Maiden Lane LLC (7) 4,047 - 137 - 20,416 3,853 Net portfolio holdings of Maiden Lane II LLC (8) 19 0 - 14,965 19 Net portfolio holdings of Maiden Lane III LLC (9) 15,119 - 5,104 - 9,292 15,119 Net portfolio holdings of TALF LLC (10) 836 0 + 103 836 Float -809 - 73 + 188 -825 Central bank liquidity swaps (11) 26,450 - 206 + 26,450 26,450 Other Federal Reserve assets (12) 179,502 - 483 + 51,042 172,795 Gold stock 11,041 0 0 11,041 Special drawing rights certificate account 5,200 0 0 5,200 Treasury currency outstanding (13) 44,473 + 14 + 601 44,473 Total factors supplying reserve funds 2,901,135 - 4,812 + 101,559 2,894,543 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 May 16, 2012 Federal Reserve Banks May 16, 2012 May 9, 2012 May 18, 2011 Currency in circulation (13) 1,103,279 + 724 + 85,999 1,103,788 Reverse repurchase agreements (14) 93,393 - 150 + 37,763 91,022 Foreign official and international accounts 93,393 - 150 + 37,763 91,022 Others 0 0 0 0 Treasury cash holdings 136 - 3 - 12 133 Deposits with F.R. Banks, other than reserve balances 126,203 - 10,416 + 20,440 111,187 Term deposits held by depository institutions 0 0 0 0 U.S. Treasury, General Account 99,876 - 13,356 + 8,428 101,035 U.S. Treasury, Supplementary Financing Account 0 0 - 5,000 0 Foreign official 154 + 21 + 6 140 Service-related 1,906 0 - 639 1,906 Required clearing balances 1,906 0 - 639 1,906 Adjustments to compensate for float 0 0 0 0 Other 24,266 + 2,918 + 17,644 8,106 Other liabilities and capital (15) 76,313 + 493 + 2,795 74,653 Total factors, other than reserve balances, absorbing reserve funds 1,399,323 - 9,353 + 146,983 1,380,783 Reserve balances with Federal Reserve Banks 1,501,812 + 4,541 - 45,424 1,513,760 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 Averages of daily figures Wednesday Week ended Change from week ended May 16, 2012 Memorandum item May 16, 2012 May 9, 2012 May 18, 2011 Marketable securities held in custody for foreign official and international accounts (1) 3,490,284 - 8,684 + 47,673 3,493,256 U.S. Treasury securities 2,779,062 - 5,306 + 78,710 2,784,825 Federal agency securities (2) 711,222 - 3,378 - 31,037 708,431 Securities lent to dealers 12,970 - 66 - 8,664 12,986 Overnight facility (3) 12,970 - 66 - 8,664 12,986 U.S. Treasury securities 12,290 - 8 - 8,533 12,408 Federal agency debt securities 680 - 59 - 131 578 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, May 16, 2012 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 Loans (1) 23 1,465 3,035 1,870 0 ... 6,393 U.S. Treasury securities (2) Holdings 14,643 11,285 49,116 547,665 723,863 310,222 1,656,793 Weekly changes - 2,346 - 2,157 + 6,508 - 2,280 - 13,836 + 4,966 - 9,146 Federal agency debt securities (3) Holdings 914 4,151 17,048 63,219 6,487 2,347 94,166 Weekly changes - 405 + 1,928 - 1,928 + 2,995 - 2,995 0 - 405 Mortgage-backed securities (4) Holdings 0 0 2 8 98 858,121 858,229 Weekly changes 0 0 0 0 - 2 + 10,404 + 10,403 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) 14,851 11,600 0 0 0 0 26,450 Reverse repurchase agreements (6) 91,022 0 ... ... ... ... 91,022 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 Wednesday Account name May 16, 2012 Mortgage-backed securities held outright (1) 858,229 Commitments to buy mortgage-backed securities (2) 31,861 Commitments to sell mortgage-backed securities (2) 0 Cash and cash equivalents (3) 0 1. Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. Current face value of the securities, which is the remaining principal balance of the underlying mortgages. 2. Current face value. Generally settle within 180 days and include commitments associated with outright transactions, dollar rolls, and coupon swaps. 3. This amount is included in other Federal Reserve assets in table 1 and in other assets in table 8 and table 9. 4. Information on Principal Accounts of Maiden Lane LLC Millions of dollars Wednesday Account name May 16, 2012 Net portfolio holdings of Maiden Lane LLC (1) 3,853 Outstanding principal amount of loan extended by the Federal Reserve Bank of New York (2) 366 Accrued interest payable to the Federal Reserve Bank of New York (2) 765 Outstanding principal amount and accrued interest on loan payable to JPMorgan Chase & Co. (3) 1,412 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 Wednesday Account name May 16, 2012 Net portfolio holdings of Maiden Lane II LLC (1) 19 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 Wednesday Account name May 16, 2012 Net portfolio holdings of Maiden Lane III LLC (1) 15,119 Outstanding principal amount of loan extended by the Federal Reserve Bank of New York (2) 2,768 Accrued interest payable to the Federal Reserve Bank of New York (2) 734 Outstanding principal amount and accrued interest on loan payable to American International Group, Inc. (3) 5,609 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 Wednesday Account name May 16, 2012 Asset-backed securities holdings (1) 0 Other investments, net 836 Net portfolio holdings of TALF LLC 836 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 $4.3 billion in subordinated debt funding provided by the U.S. Treasury, and finally, by senior debt funding provided by the FRBNY. Payments by TALF LLC from the proceeds of its net portfolio holdings will be made in the following order: operating expenses of TALF LLC, principal due to the FRBNY, principal due to the U.S. Treasury, interest due to the FRBNY, and interest due to the U.S. Treasury. Any remaining funds will be shared by the FRBNY and the U.S. Treasury. 8. Consolidated Statement of Condition of All Federal Reserve Banks Millions of dollars Eliminations from Wednesday Change since consolidation May 16, 2012 Wednesday Wednesday Assets, liabilities, and capital May 9, 2012 May 18, 2011 Assets Gold certificate account 11,037 0 0 Special drawing rights certificate account 5,200 0 0 Coin 2,199 - 19 + 50 Securities, repurchase agreements, and loans 2,615,582 + 785 + 61,099 Securities held outright (1) 2,609,188 + 852 + 69,685 U.S. Treasury securities 1,656,793 - 9,146 + 161,627 Bills (2) 18,423 0 0 Notes and bonds, nominal (2) 1,561,325 - 10,697 + 153,327 Notes and bonds, inflation-indexed (2) 67,654 + 1,328 + 6,650 Inflation compensation (3) 9,392 + 224 + 1,650 Federal agency debt securities (2) 94,166 - 405 - 26,592 Mortgage-backed securities (4) 858,229 + 10,403 - 65,350 Repurchase agreements (5) 0 0 0 Loans 6,393 - 68 - 8,587 Net portfolio holdings of Maiden Lane LLC (6) 3,853 - 340 - 20,566 Net portfolio holdings of Maiden Lane II LLC (7) 19 0 - 14,965 Net portfolio holdings of Maiden Lane III LLC (8) 15,119 - 5,204 - 9,255 Net portfolio holdings of TALF LLC (9) 836 0 + 103 Items in process of collection (97) 174 + 8 - 180 Bank premises 2,367 + 1 + 157 Central bank liquidity swaps (10) 26,450 - 206 + 26,450 Other assets (11) 170,463 - 8,192 + 48,225 Total assets (97) 2,853,300 - 13,166 + 91,118 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 Eliminations from Wednesday Change since consolidation May 16, 2012 Wednesday Wednesday Assets, liabilities, and capital May 9, 2012 May 18, 2011 Liabilities Federal Reserve notes, net of F.R. Bank holdings 1,061,643 - 505 + 85,309 Reverse repurchase agreements (12) 91,022 + 3,243 + 33,596 Deposits (0) 1,624,983 - 15,657 - 28,858 Term deposits held by depository institutions 0 0 0 Other deposits held by depository institutions 1,515,702 + 5,362 - 22,997 U.S. Treasury, General Account 101,035 - 1,768 - 8,585 U.S. Treasury, Supplementary Financing Account 0 0 - 5,000 Foreign official 140 + 12 + 15 Other (0) 8,106 - 19,263 + 7,710 Deferred availability cash items (97) 999 - 123 - 374 Other liabilities and accrued dividends (13) 20,004 - 219 - 606 Total liabilities (97) 2,798,651 - 13,262 + 89,067 Capital accounts Capital paid in 27,325 + 49 + 1,026 Surplus 27,325 + 49 + 1,026 Other capital accounts 0 0 0 Total capital 54,649 + 96 + 2,052 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, May 16, 2012 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 11,037 408 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 2,199 50 107 153 153 393 201 318 32 57 165 206 364 Securities, repurchase agreements, and loans 2,615,582 63,377 1,469,205 86,254 66,337 185,700 157,316 144,756 40,794 23,736 52,421 101,382 224,304 Securities held outright (1) 2,609,188 63,372 1,462,853 86,254 66,337 185,700 157,316 144,746 40,792 23,720 52,420 101,381 224,298 U.S. Treasury securities 1,656,793 40,240 928,889 54,770 42,123 117,916 99,893 91,912 25,902 15,062 33,286 64,375 142,425 Bills (2) 18,423 447 10,329 609 468 1,311 1,111 1,022 288 167 370 716 1,584 Notes and bonds (3) 1,638,371 39,793 918,560 54,161 41,655 116,605 98,782 90,890 25,614 14,894 32,916 63,659 140,842 Federal agency debt securities (2) 94,166 2,287 52,795 3,113 2,394 6,702 5,678 5,224 1,472 856 1,892 3,659 8,095 Mortgage-backed securities (4) 858,229 20,845 481,170 28,371 21,820 61,081 51,745 47,611 13,418 7,802 17,242 33,347 73,777 Repurchase agreements (5) 0 0 0 0 0 0 0 0 0 0 0 0 0 Loans 6,393 4 6,352 0 0 0 0 10 2 16 1 2 6 Net portfolio holdings of Maiden Lane LLC (6) 3,853 0 3,853 0 0 0 0 0 0 0 0 0 0 Net portfolio holdings of Maiden Lane II LLC (7) 19 0 19 0 0 0 0 0 0 0 0 0 0 Net portfolio holdings of Maiden Lane III LLC (8) 15,119 0 15,119 0 0 0 0 0 0 0 0 0 0 Net portfolio holdings of TALF LLC (9) 836 0 836 0 0 0 0 0 0 0 0 0 0 Items in process of collection 272 9 0 64 46 4 55 15 10 11 4 8 45 Bank premises 2,367 122 462 66 124 230 213 203 132 105 256 242 211 Central bank liquidity swaps (10) 26,450 927 8,532 2,294 1,955 5,471 1,512 706 216 108 263 424 4,041 Other assets (11) 170,463 4,445 89,144 7,008 5,569 15,722 10,232 8,715 2,524 1,480 3,188 6,101 16,336 Interdistrict settlement account 0 + 5,568 - 10,771 - 15,365 + 550 - 5,537 + 3,657 + 2,236 + 2,043 + 1,014 + 9 + 2,524 + 14,074 Total assets 2,853,397 75,102 1,582,149 81,120 75,487 203,284 175,177 158,212 46,213 26,793 56,774 111,894 261,191 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, May 16, 2012 (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 1,244,603 47,168 432,403 48,106 61,234 101,993 150,016 95,139 36,138 22,618 37,433 77,790 134,564 Less: Notes held by F.R. Banks 182,960 5,006 66,343 5,604 7,764 11,791 25,352 12,496 4,308 4,162 3,929 11,841 24,366 Federal Reserve notes, net 1,061,643 42,162 366,060 42,503 53,470 90,203 124,664 82,643 31,830 18,456 33,505 65,950 110,198 Reverse repurchase agreements (12) 91,022 2,211 51,032 3,009 2,314 6,478 5,488 5,049 1,423 827 1,829 3,537 7,825 Deposits 1,624,983 27,793 1,131,921 30,729 15,110 94,906 41,207 68,387 12,226 6,960 20,650 41,111 133,983 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 1,515,702 27,789 1,022,872 30,718 15,107 94,744 41,204 68,354 12,226 6,960 20,648 41,110 133,971 U.S. Treasury, General Account 101,035 0 101,035 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 140 1 113 3 3 8 2 1 0 0 0 1 6 Other 8,106 2 7,902 8 0 154 1 32 0 0 1 1 6 Deferred availability cash items 1,097 38 0 122 54 24 190 31 95 168 42 68 265 Interest on Federal Reserve notes due to U.S. Treasury (13) 1,309 26 823 17 18 45 84 83 23 14 26 62 89 Other liabilities and accrued dividends (14) 18,695 229 14,895 303 279 709 471 422 173 139 179 301 594 Total liabilities 2,798,748 72,458 1,564,732 76,683 71,246 192,364 172,105 156,615 45,770 26,565 56,229 111,028 252,953 Capital Capital paid in 27,325 1,322 8,708 2,219 2,121 5,460 1,536 798 222 114 272 433 4,119 Surplus 27,325 1,322 8,708 2,219 2,121 5,460 1,536 798 222 114 272 433 4,119 Other capital 0 0 0 0 0 0 0 0 0 0 0 0 0 Total liabilities and capital 2,853,397 75,102 1,582,149 81,120 75,487 203,284 175,177 158,212 46,213 26,793 56,774 111,894 261,191 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, May 16, 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 Wednesday Federal Reserve notes and collateral May 16, 2012 Federal Reserve notes outstanding 1,244,603 Less: Notes held by F.R. Banks not subject to collateralization 182,960 Federal Reserve notes to be collateralized 1,061,643 Collateral held against Federal Reserve notes 1,061,643 Gold certificate account 11,037 Special drawing rights certificate account 5,200 U.S. Treasury, agency debt, and mortgage-backed securities pledged (1,2) 1,045,406 Other assets pledged 0 Memo: Total U.S. Treasury, agency debt, and mortgage-backed securities (1,2) 2,609,188 Less: Face value of securities under reverse repurchase agreements 79,115 U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 2,530,073 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.