Federal Reserve Statistical Release, H.4.1, Factors Affecting Reserve Balances; title with eagle logo links to Statistical Release home page
Release Date:   March 15, 2012
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June 12, 2014

Table 10 line items "Less: Face value of securities under reverse repurchase agreements" and "U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged" have been corrected to include securities pledged as collateral for tri-party reverse repurchase agreements. The revised data are reported at the following link: http://www.federalreserve.gov/releases/h41/2014update.htm. Historical data incorporating this correction can be accessed through the Data Download Program (DDP) at http://www.federalreserve.gov/datadownload/Choose.aspx?rel=H41.


FEDERAL RESERVE statistical release

H.4.1

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

March 15, 2012
1. Factors Affecting Reserve Balances of Depository Institutions
Millions of dollars
Reserve Bank credit, related items, and
reserve balances of depository institutions at
Federal Reserve Banks		 Averages of daily figures Wednesday
Mar 14, 2012
Week ended
Mar 14, 2012		 Change from week ended
Mar 7, 2012 Mar 16, 2011
Reserve Bank credit 2,871,570 + 6,695 + 303,350 2,876,003
    Securities held outright 1 2,608,509 + 10,282 + 243,490 2,613,456
        U.S. Treasury securities 1,662,536 + 5,487 + 387,575 1,659,768
            Bills 2 18,423 0 0 18,423
            Notes and bonds, nominal 2 1,567,638 + 6,557 + 373,548 1,564,842
            Notes and bonds, inflation-indexed 2 67,558 - 950 + 11,701 67,558
            Inflation compensation 3 8,917 - 120 + 2,325 8,945
        Federal agency debt securities 2 99,803 - 579 - 42,702 99,803
        Mortgage-backed securities 4 846,170 + 5,374 - 101,382 853,885
    Repurchase agreements 5 0 0 0 0
    Loans 7,422 - 98 - 12,628 7,381
        Primary credit 19 + 15 + 12 3
        Secondary credit 0 0 0 0
        Seasonal credit 4 + 1 - 5 5
        Term Asset-Backed Securities Loan Facility 6 7,399 - 114 - 12,636 7,374
        Other credit extensions 0 0 0 0
    Net portfolio holdings of Maiden Lane LLC 7 6,297 - 144 - 19,550 5,362
    Net portfolio holdings of Maiden Lane II LLC 8 3,635 - 188 - 12,257 3,635
    Net portfolio holdings of Maiden Lane III LLC 9 17,679 + 52 - 5,264 17,434
    Net portfolio holdings of TALF LLC 10 825 0 + 122 825
    Float -890 + 123 + 552 -1,171
    Central bank liquidity swaps 11 64,873 - 6,513 + 64,873 64,873
    Other Federal Reserve assets 12 163,220 + 3,181 + 44,011 164,207
Gold stock 11,041 0 0 11,041
Special drawing rights certificate account 5,200 0 0 5,200
Treasury currency outstanding 13 44,338 + 14 + 563 44,338
 
Total factors supplying reserve funds 2,932,149 + 6,709 + 303,913 2,936,582
Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table.


1. Factors Affecting Reserve Balances of Depository Institutions (continued)
Millions of dollars
Reserve Bank credit, related items, and
reserve balances of depository institutions at
Federal Reserve Banks		 Averages of daily figures Wednesday
Mar 14, 2012
Week ended
Mar 14, 2012		 Change from week ended
Mar 7, 2012 Mar 16, 2011
Currency in circulation 13 1,095,198 + 2,553 + 94,187 1,096,987
Reverse repurchase agreements 14 88,511 + 1,034 + 29,357 99,250
    Foreign official and international accounts 87,714 + 509 + 28,560 97,750
    Others 797 + 526 + 797 1,500
Treasury cash holdings 166 + 4 - 38 163
Deposits with F.R. Banks, other than reserve balances 93,379 + 15,928 - 6,143 101,434
    Term deposits held by depository institutions 0 0 0 0
    U.S. Treasury, General Account 41,816 + 4,853 - 272 45,420
    U.S. Treasury, Supplementary Financing Account 0 0 - 49,991 0
    Foreign official 127 0 - 7 127
    Service-related 1,953 - 1 - 360 1,953
        Required clearing balances 1,953 - 1 - 360 1,953
        Adjustments to compensate for float 0 0 0 0
    Other 49,483 + 11,077 + 44,487 53,934
Other liabilities and capital 15 75,538 - 110 + 2,527 74,376
 
Total factors, other than reserve balances,
    absorbing reserve funds		 1,352,791 + 19,408 + 119,889 1,372,210
 
Reserve balances with Federal Reserve Banks 1,579,358 - 12,699 + 184,024 1,564,372
Note: Components may not sum to totals because of rounding.


1. 
Includes securities lent to dealers under the overnight securities lending facility; refer to table 1A.
2. 
Face value of the securities.
3. 
Compensation that adjusts for the effect of inflation on the original face value of inflation-indexed securities.
4. 
Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. Current face value of the securities, which is the remaining principal balance of the underlying mortgages.
5. 
Cash value of agreements.
6. 
Includes credit extended by the Federal Reserve Bank of New York to eligible borrowers through the Term Asset-Backed Securities Loan Facility.
7. 
Refer to table 4 and the note on consolidation accompanying table 9.
8. 
Refer to table 5 and the note on consolidation accompanying table 9.
9. 
Refer to table 6 and the note on consolidation accompanying table 9.
10. 
Refer to table 7 and the note on consolidation accompanying table 9.
11. 
Dollar value of foreign currency held under these agreements valued at the exchange rate to be used when the foreign currency is returned to the foreign central bank. This exchange rate equals the market exchange rate used when the foreign currency was acquired from the foreign central bank.
12. 
Includes other assets denominated in foreign currencies, which are revalued daily at market exchange rates, and the fair value adjustment to credit extended by the FRBNY to eligible borrowers through the Term Asset-Backed Securities Loan Facility.
13. 
Estimated.
14. 
Cash value of agreements, which are collateralized by U.S. Treasury securities, federal agency debt securities, and mortgage-backed securities.
15. 
Includes the liabilities of Maiden Lane LLC, Maiden Lane II LLC, Maiden Lane III LLC, and TALF LLC to entities other than the Federal Reserve Bank of New York, including liabilities that have recourse only to the portfolio holdings of these LLCs. Refer to table 4 through table 7 and the note on consolidation accompanying table 9. Also includes the liability for interest on Federal Reserve notes due to U.S. Treasury. Refer to table 8 and table 9.

Sources: Federal Reserve Banks and the U.S. Department of the Treasury.


1A. Memorandum Items
Millions of dollars
Memorandum item Averages of daily figures Wednesday
Mar 14, 2012
Week ended
Mar 14, 2012		 Change from week ended
Mar 7, 2012 Mar 16, 2011
Marketable securities held in custody for foreign
    official and international accounts 1		 3,466,136 + 4,879 + 64,870 3,472,793
    U.S. Treasury securities 2,727,979 + 7,158 + 89,443 2,733,640
    Federal agency securities 2 738,158 - 2,278 - 24,572 739,154
Securities lent to dealers 20,811 + 143 + 6,505 22,173
    Overnight facility 3 20,811 + 143 + 6,505 22,173
        U.S. Treasury securities 19,951 + 267 + 6,473 21,301
        Federal agency debt securities 860 - 124 + 32 872
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, March 14, 2012
Millions of dollars
Remaining maturity Within 15
days		 16 days to
90 days		 91 days to
1 year		 Over 1 year
to 5 years		 Over 5 years
to 10 years		 Over 10
years		 All
Loans 1 4 582 4,668 2,127 0 ... 7,381
U.S. Treasury securities 2  
    Holdings 17,067 27,886 55,709 591,007 697,055 271,044 1,659,768
    Weekly changes - 3,520 + 3,522 + 1 - 8,619 + 5,124 + 3,981 + 489
Federal agency debt securities 3  
    Holdings 3,325 3,226 19,664 60,259 10,982 2,347 99,803
    Weekly changes + 2,514 - 2,514 0 0 0 0 0
Mortgage-backed securities 4  
    Holdings 0 0 1 11 85 853,788 853,885
    Weekly changes 0 0 0 0 0 + 13,089 + 13,089
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 27,523 37,351 0 0 0 0 64,873
   
Reverse repurchase agreements 6 99,250 0 ... ... ... ... 99,250
Term deposits 0 0 0 ... ... ... 0
Note: Components may not sum to totals because of rounding.

. . . Not applicable.


1. 
Excludes the loans from the Federal Reserve Bank of New York (FRBNY) to Maiden Lane LLC, Maiden Lane II LLC, Maiden Lane III LLC, and TALF LLC. The loans were eliminated when preparing the FRBNY's statement of condition consistent with consolidation under generally accepted accounting principles.
2. 
Face value. For inflation-indexed securities, includes the original face value and compensation that adjusts for the effect of inflation on the original face value of such securities.
3. 
Face value.
4. 
Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. Current face value of the securities, which is the remaining principal balance of the underlying mortgages.
5. 
Face value of asset-backed securities held by TALF LLC, which is the remaining principal balance of the underlying assets.
6. 
Cash value of agreements.
7. 
Dollar value of foreign currency held under these agreements valued at the exchange rate to be used when the foreign currency is returned to the foreign central bank. This exchange rate equals the market exchange rate used when the foreign currency was acquired from the foreign central bank.

3. Supplemental Information on Mortgage-Backed Securities
Millions of dollars
Account name Wednesday
Mar 14, 2012
Mortgage-backed securities held outright 1 853,885
 
Commitments to buy mortgage-backed securities 2 39,461
Commitments to sell mortgage-backed securities 2 850
 
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
Account name Wednesday
Mar 14, 2012
Net portfolio holdings of Maiden Lane LLC 1 5,362
 
Outstanding principal amount of loan extended by the Federal Reserve Bank of New York 2 2,150
Accrued interest payable to the Federal Reserve Bank of New York 2 762
Outstanding principal amount and accrued interest on loan payable to JPMorgan Chase & Co. 3 1,400
1. 
Fair value. Fair value reflects an estimate of the price that would be received upon selling an asset if the transaction were to be conducted in an orderly market on the measurement date. Revalued quarterly. This table reflects valuations as of December 31, 2011. Any assets purchased after this valuation date are initially recorded at cost until their estimated fair value as of the purchase date becomes available.
2. 
Book value. This amount was eliminated when preparing the Federal Reserve Bank of New York's statement of condition consistent with consolidation under generally accepted accounting principles. Refer to the note on consolidation accompanying table 9.
3. 
Book value. The fair value of these obligations is included in other liabilities and capital in table 1 and in other liabilities and accrued dividends in table 8 and table 9.

Note: On June 26, 2008, the Federal Reserve Bank of New York (FRBNY) extended credit to Maiden Lane LLC under the authority of section 13(3) of the Federal Reserve Act. This limited liability company was formed to acquire certain assets of Bear Stearns and to manage those assets through time to maximize repayment of the credit extended and to minimize disruption to financial markets. Payments by Maiden Lane LLC from the proceeds of the net portfolio holdings will be made in the following order: operating expenses of the LLC, principal due to the FRBNY, interest due to the FRBNY, principal due to JPMorgan Chase & Co., and interest due to JPMorgan Chase & Co. Any remaining funds will be paid to the FRBNY.


5. Information on Principal Accounts of Maiden Lane II LLC
Millions of dollars
Account name Wednesday
Mar 14, 2012
Net portfolio holdings of Maiden Lane II LLC 1 3,635
 
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. 3 895
1. 
Fair value. Fair value reflects an estimate of the price that would be received upon selling an asset if the transaction were to be conducted in an orderly market on the measurement date. Revalued quarterly. This table reflects valuations as of December 31, 2011. Any assets purchased after this valuation date are initially recorded at cost until their estimated fair value as of the purchase date becomes available.
2. 
Book value. This amount was eliminated when preparing the Federal Reserve Bank of New York's statement of condition consistent with consolidation under generally accepted accounting principles. Refer to the note on consolidation accompanying table 9.
3. 
Book value. The deferred payment represents the portion of the proceeds of the net portfolio holdings due to subsidiaries of American International Group, Inc. in accordance with the asset purchase agreement. The fair value of this payment and accrued interest payable are included in other liabilities and capital in table 1 and in other liabilities and accrued dividends in table 8 and table 9.

Note: On December 12, 2008, the Federal Reserve Bank of New York (FRBNY) began extending credit to Maiden Lane II LLC under the authority of section 13(3) of the Federal Reserve Act. This limited liability company was formed to purchase residential mortgage-backed securities from the U.S. securities lending reinvestment portfolio of subsidiaries of American International Group, Inc. (AIG subsidiaries). Payments by Maiden Lane II LLC from the proceeds of the net portfolio holdings will be made in the following order: operating expenses of Maiden Lane II LLC, principal due to the FRBNY, interest due to the FRBNY, and deferred payment and interest due to AIG subsidiaries. Any remaining funds will be shared by the FRBNY and AIG subsidiaries.


6. Information on Principal Accounts of Maiden Lane III LLC
Millions of dollars
Account name Wednesday
Mar 14, 2012
Net portfolio holdings of Maiden Lane III LLC 1 17,434
 
Outstanding principal amount of loan extended by the Federal Reserve Bank of New York 2 8,271
Accrued interest payable to the Federal Reserve Bank of New York 2 716
Outstanding principal amount and accrued interest on loan payable to American International Group, Inc. 3 5,578
1. 
Fair value. Fair value reflects an estimate of the price that would be received upon selling an asset if the transaction were to be conducted in an orderly market on the measurement date. Revalued quarterly. This table reflects valuations as of December 31, 2011. Any assets purchased after this valuation date are initially recorded at cost until their estimated fair value as of the purchase date becomes available.
2. 
Book value. This amount was eliminated when preparing the Federal Reserve Bank of New York's statement of condition consistent with consolidation under generally accepted accounting principles. Refer to the note on consolidation accompanying table 9.
3. 
Book value. The fair value of these obligations is included in other liabilities and capital in table 1 and in other liabilities and accrued dividends in table 8 and table 9.

Note: On November 25, 2008, the Federal Reserve Bank of New York (FRBNY) began extending credit to Maiden Lane III LLC under the authority of section 13(3) of the Federal Reserve Act. This limited liability company was formed to purchase multi-sector collateralized debt obligations (CDOs) on which the Financial Products group of American International Group, Inc. (AIG) has written credit default swap (CDS) contracts. In connection with the purchase of CDOs, the CDS counterparties will concurrently unwind the related CDS transactions. Payments by Maiden Lane III LLC from the proceeds of the net portfolio holdings will be made in the following order: operating expenses of Maiden Lane III LLC, principal due to the FRBNY, interest due to the FRBNY, principal due to AIG, and interest due to AIG. Any remaining funds will be shared by the FRBNY and AIG.


7. Information on Principal Accounts of TALF LLC
Millions of dollars
Account name Wednesday
Mar 14, 2012
Asset-backed securities holdings 1 0
Other investments, net 825
Net portfolio holdings of TALF LLC 825
 
Outstanding principal amount of loan extended by the Federal Reserve Bank of New York 2 0
Accrued interest payable to the Federal Reserve Bank of New York 2 0
Funding provided by U.S. Treasury to TALF LLC, including accrued interest payable 3 110
1. 
Fair value. Fair value reflects an estimate of the price that would be received upon selling an asset if the transaction were to be conducted in an orderly market on the measurement date.
2. 
Book value. This amount was eliminated when preparing the Federal Reserve Bank of New York's statement of condition consistent with consolidation under generally accepted accounting principles. Refer to the note on consolidation accompanying table 9.
3. 
Book value. The fair value of these obligations is included in other liabilities and capital in table 1 and in other liabilities and accrued dividends in table 8 and table 9.

Note: On November 25, 2008, the Federal Reserve announced the creation of the Term Asset-Backed Securities Loan Facility (TALF) under the authority of section 13(3) of the Federal Reserve Act. The TALF is a facility under which the Federal Reserve Bank of New York (FRBNY) extends loans with a term of up to five years to holders of eligible asset-backed securities. The TALF is intended to assist financial markets in accommodating the credit needs of consumers and businesses by facilitating the issuance of asset-backed securities collateralized by a variety of consumer and business loans. The loans provided through the TALF to eligible borrowers are non-recourse, meaning that the obligation of the borrower can be discharged by surrendering the collateral to the FRBNY. The loans are extended for the market value of the security less an amount known as a haircut. As a result, the borrower bears the initial risk of a decline in the value of the security.


TALF LLC is a limited liability company formed to purchase and manage any asset-backed securities received by the FRBNY in connection with the decision of a borrower not to repay a TALF loan. TALF LLC has committed, for a fee, to purchase all asset-backed securities received by the FRBNY in conjunction with a TALF loan at a price equal to the TALF loan plus accrued but unpaid interest. Losses on asset-backed securities held by TALF LLC will be offset in the following order: by the commitment fees collected by TALF LLC, by the interest received on investments of TALF LLC, by up to $4.3 billion in subordinated debt funding provided by the U.S. Treasury, and finally, by senior debt funding provided by the FRBNY. Payments by TALF LLC from the proceeds of its net portfolio holdings will be made in the following order: operating expenses of TALF LLC, principal due to the FRBNY, principal due to the U.S. Treasury, interest due to the FRBNY, and interest due to the U.S. Treasury. Any remaining funds will be shared by the FRBNY and the U.S. Treasury.


8. Consolidated Statement of Condition of All Federal Reserve Banks
Millions of dollars
Assets, liabilities, and capital Eliminations from
consolidation		 Wednesday
Mar 14, 2012		 Change since
Wednesday
Mar 7, 2012		 Wednesday
Mar 16, 2011
Assets  
    Gold certificate account   11,037 0 0
    Special drawing rights certificate account   5,200 0 0
    Coin   2,342 - 20 + 135
    Securities, repurchase agreements, and loans   2,620,837 + 13,529 + 236,405
        Securities held outright 1   2,613,456 + 13,578 + 248,973
            U.S. Treasury securities   1,659,768 + 489 + 379,382
                Bills 2   18,423 0 0
                Notes and bonds, nominal 2   1,564,842 + 413 + 365,352
                Notes and bonds, inflation-indexed 2   67,558 0 + 11,701
                Inflation compensation 3   8,945 + 76 + 2,329
            Federal agency debt securities 2   99,803 0 - 40,191
            Mortgage-backed securities 4   853,885 + 13,089 - 90,218
        Repurchase agreements 5   0 0 0
        Loans   7,381 - 49 - 12,568
    Net portfolio holdings of Maiden Lane LLC 6   5,362 - 1,091 - 20,195
    Net portfolio holdings of Maiden Lane II LLC 7   3,635 0 - 12,261
    Net portfolio holdings of Maiden Lane III LLC 8   17,434 - 286 - 5,479
    Net portfolio holdings of TALF LLC 9   825 0 + 122
    Items in process of collection (311) 226 + 61 + 37
    Bank premises   2,384 - 1 + 167
    Central bank liquidity swaps 10   64,873 - 6,513 + 64,873
    Other assets 11   161,693 + 3,114 + 44,928
 
Total assets (311) 2,895,849 + 8,795 + 308,734
Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table.


8. Consolidated Statement of Condition of All Federal Reserve Banks (continued)
Millions of dollars
Assets, liabilities, and capital Eliminations from
consolidation		 Wednesday
Mar 14, 2012		 Change since
Wednesday
Mar 7, 2012		 Wednesday
Mar 16, 2011
Liabilities  
    Federal Reserve notes, net of F.R. Bank holdings   1,055,150 + 1,890 + 93,283
    Reverse repurchase agreements 12   99,250 + 12,821 + 36,963
    Deposits (0) 1,665,676 - 6,055 + 177,012
        Term deposits held by depository institutions   0 0 0
        Other deposits held by depository institutions   1,566,195 - 37,867 + 229,574
        U.S. Treasury, General Account   45,420 + 18,983 - 56,051
        U.S. Treasury, Supplementary Financing Account   0 0 - 49,991
        Foreign official   127 0 + 4
        Other (0) 53,934 + 12,828 + 53,476
    Deferred availability cash items (311) 1,397 + 155 - 320
    Other liabilities and accrued dividends 13   19,927 - 20 - 86
 
Total liabilities (311) 2,841,399 + 8,790 + 306,850
 
Capital accounts  
    Capital paid in   27,225 + 2 + 942
    Surplus   27,225 + 2 + 942
    Other capital accounts   0 0 0
 
Total capital   54,450 + 5 + 1,884
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, March 14, 2012
Millions of dollars
Assets, liabilities, and capital Total Boston New York Philadelphia Cleveland Richmond Atlanta Chicago St. Louis Minneapolis Kansas
City		 Dallas San
Francisco
Assets  
    Gold certificate account 11,037 390 3,866 432 450 872 1,394 854 319 197 318 728 1,217
    Special drawing rights certificate acct. 5,200 196 1,818 210 237 412 654 424 150 90 153 282 574
    Coin 2,342 62 118 162 167 416 198 330 31 60 175 230 391
    Securities, repurchase agreements,
        and loans		 2,620,837 64,257 1,222,744 89,527 70,596 301,828 194,291 155,201 49,465 40,165 69,523 103,362 259,878
        Securities held outright 1 2,613,456 64,256 1,215,369 89,527 70,595 301,828 194,291 155,201 49,465 40,165 69,519 103,362 259,878
            U.S. Treasury securities 1,659,768 40,808 771,863 56,857 44,834 191,686 123,391 98,566 31,414 25,508 44,151 65,644 165,045
                Bills 2 18,423 453 8,567 631 498 2,128 1,370 1,094 349 283 490 729 1,832
                Notes and bonds 3 1,641,345 40,355 763,296 56,226 44,336 189,559 122,022 97,472 31,066 25,225 43,661 64,915 163,213
            Federal agency debt securities 2 99,803 2,454 46,413 3,419 2,696 11,526 7,420 5,927 1,889 1,534 2,655 3,947 9,924
            Mortgage-backed securities 4 853,885 20,994 397,093 29,251 23,065 98,615 63,480 50,708 16,162 13,123 22,714 33,771 84,909
        Repurchase agreements 5 0 0 0 0 0 0 0 0 0 0 0 0 0
        Loans 7,381 1 7,375 0 1 0 0 0 0 0 3 0 0
    Net portfolio holdings of Maiden
        Lane LLC 6		 5,362 0 5,362 0 0 0 0 0 0 0 0 0 0
    Net portfolio holdings of Maiden
        Lane II LLC 7		 3,635 0 3,635 0 0 0 0 0 0 0 0 0 0
    Net portfolio holdings of Maiden
        Lane III LLC 8		 17,434 0 17,434 0 0 0 0 0 0 0 0 0 0
    Net portfolio holdings of TALF LLC 9 825 0 825 0 0 0 0 0 0 0 0 0 0
    Items in process of collection 536 5 0 47 33 100 268 12 5 8 3 10 45
    Bank premises 2,384 123 472 67 125 231 212 204 133 105 258 244 212
    Central bank liquidity swaps 10 64,873 2,274 20,926 5,627 4,796 13,419 3,709 1,731 531 265 645 1,039 9,910
    Other assets 11 161,693 4,262 71,340 6,898 5,548 21,074 11,622 8,765 2,812 2,238 3,890 5,849 17,395
    Interdistrict settlement account 0 - 2,693 + 202,250 + 3,665 + 890 - 123,874 - 31,908 - 12,926 - 5,566 - 13,712 - 15,933 + 2,103 - 2,297
 
Total assets 2,896,159 68,877 1,550,792 106,634 82,842 214,479 180,441 154,595 47,881 29,416 59,031 113,847 287,326
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, March 14, 2012 (continued)
Millions of dollars
Assets, liabilities, and capital Total Boston New York Philadelphia Cleveland Richmond Atlanta Chicago St. Louis Minneapolis Kansas
City		 Dallas San
Francisco
Liabilities  
    Federal Reserve notes outstanding 1,230,340 44,110 437,677 48,503 60,027 103,018 143,291 89,199 33,459 22,299 35,225 79,018 134,512
        Less: Notes held by F.R. Banks 175,190 4,747 59,346 6,010 7,986 11,195 27,158 11,759 4,058 4,432 3,615 10,973 23,911
            Federal Reserve notes, net 1,055,150 39,363 378,332 42,493 52,041 91,823 116,133 77,440 29,401 17,867 31,610 68,045 110,602
    Reverse repurchase agreements 12 99,250 2,440 46,156 3,400 2,681 11,462 7,379 5,894 1,879 1,525 2,640 3,925 9,869
    Deposits 1,665,676 24,276 1,093,461 55,764 23,436 99,234 52,766 69,277 15,921 9,321 23,968 40,580 157,671
        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		 1,566,195 24,273 994,173 55,751 23,433 99,135 52,764 69,234 15,920 9,307 23,967 40,579 157,660
        U.S. Treasury, General Account 45,420 0 45,420 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 127 1 100 3 3 8 2 1 0 0 0 1 6
        Other 53,934 1 53,768 10 1 90 0 42 0 14 1 1 6
    Deferred availability cash items 1,707 37 0 141 216 116 481 26 27 297 34 72 259
    Interest on Federal Reserve notes due
        to U.S. Treasury 13		 1,264 -98 775 26 -28 111 110 96 30 25 44 65 108
    Other liabilities and accrued
        dividends 14		 18,663 214 14,713 283 265 816 516 426 183 162 198 296 591
 
Total liabilities 2,841,710 66,232 1,533,436 102,108 78,612 203,562 177,385 153,160 47,441 29,197 58,494 112,983 279,100
 
Capital  
    Capital paid in 27,225 1,322 8,678 2,263 2,115 5,458 1,528 718 220 109 268 432 4,113
    Surplus 27,225 1,322 8,678 2,263 2,115 5,458 1,528 718 220 109 268 432 4,113
    Other capital 0 0 0 0 0 0 0 0 0 0 0 0 0
 
Total liabilities and capital 2,896,159 68,877 1,550,792 106,634 82,842 214,479 180,441 154,595 47,881 29,416 59,031 113,847 287,326
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, March 14, 2012 (continued)

1. 
Includes securities lent to dealers under the overnight securities lending facility; refer to table 1A.
2. 
Face value of the securities.
3. 
Includes the original face value of inflation-indexed securities and compensation that adjusts for the effect of inflation on the original face value of such securities.
4. 
Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. Current face value of the securities, which is the remaining principal balance of the underlying mortgages.
5. 
Cash value of agreements, which are collateralized by U.S. Treasury and federal agency securities.
6. 
Refer to table 4 and the note on consolidation below.
7. 
Refer to table 5 and the note on consolidation below.
8. 
Refer to table 6 and the note on consolidation below.
9. 
Refer to table 7 and the note on consolidation below.
10. 
Dollar value of foreign currency held under these agreements valued at the exchange rate to be used when the foreign currency is returned to the foreign central bank. This exchange rate equals the market exchange rate used when the foreign currency was acquired from the foreign central bank.
11. 
Includes other assets denominated in foreign currencies, which are revalued daily at market exchange rates and the fair value adjustment to credit extended by the Federal Reserve Bank of New York (FRBNY) to eligible borrowers through the Term Asset-Backed Securities Loan Facility.
12. 
Cash value of agreements, which are collateralized by U.S. Treasury securities, federal agency debt securities, and mortgage-backed securities.
13. 
Represents the estimated weekly remittances to U.S Treasury as interest on Federal Reserve notes or, in those cases where the Reserve Bank's net earnings are not sufficient to equate surplus to capital paid-in, the deferred asset for interest on Federal Reserve notes. The amount of any deferred asset, which is presented as a negative amount in this line, represents the amount of the Federal Reserve Bank's earnings that must be retained before remittances to the U.S. Treasury resume. The amounts on this line are calculated in accordance with Board of Governors policy, which requires the Federal Reserve Banks to remit residual earnings to the U.S. Treasury as interest on Federal Reserve notes after providing for the costs of operations, payment of dividends, and the amount necessary to equate surplus with capital paid-in.
14. 
Includes the liabilities of Maiden Lane LLC, Maiden Lane II LLC, Maiden Lane III LLC, and TALF LLC to entities other than the Federal Reserve Bank of New York, including liabilities that have recourse only to the portfolio holdings of these LLCs. Refer to table 4 through table 7 and the note on consolidation below.


Note on consolidation:


The Federal Reserve Bank of New York (FRBNY) has extended loans to several limited liability companies under the authority of section 13(3) of the Federal Reserve Act. On June 26, 2008, a loan was extended to Maiden Lane LLC, which was formed to acquire certain assets of Bear Stearns. On November 25, 2008, a loan was extended to Maiden Lane III LLC, which was formed to purchase multi-sector collateralized debt obligations on which the Financial Products group of the American International Group, Inc. has written credit default swap contracts. On December 12, 2008, a loan was extended to Maiden Lane II LLC, which was formed to purchase residential mortgage-backed securities from the U.S. securities lending reinvestment portfolio of subsidiaries of American International Group, Inc. On November 25, 2008, the Federal Reserve Board authorized the FRBNY to extend credit to TALF LLC, which was formed to purchase and manage any asset-backed securities received by the FRBNY in connection with the decision of a borrower not to repay a loan extended under the Term Asset-Backed Securities Loan Facility.


The FRBNY is the primary beneficiary of TALF LLC, because of the two beneficiaries of the LLC, the FRBNY and the U.S. Treasury, the FRBNY is primarily responsible for directing the financial activities of TALF LLC. The FRBNY is the primary beneficiary of the other LLCs cited above because it will receive a majority of any residual returns of the LLCs and absorb a majority of any residual losses of the LLCs. Consistent with generally accepted accounting principles, the assets and liabilities of these LLCs have been consolidated with the assets and liabilities of the FRBNY in the preparation of the statements of condition shown on this release. As a consequence of the consolidation, the extensions of credit from the FRBNY to the LLCs are eliminated, the net assets of the LLCs appear as assets on the previous page (and in table 1 and table 8), and the liabilities of the LLCs to entities other than the FRBNY, including those with recourse only to the portfolio holdings of the LLCs, are included in other liabilities in this table (and table 1 and table 8).


10. Collateral Held against Federal Reserve Notes: Federal Reserve Agents' Accounts
Millions of dollars
Federal Reserve notes and collateral Wednesday
Mar 14, 2012
Federal Reserve notes outstanding 1,230,340
    Less: Notes held by F.R. Banks not subject to collateralization 175,190
        Federal Reserve notes to be collateralized 1,055,150
Collateral held against Federal Reserve notes 1,055,150
    Gold certificate account 11,037
    Special drawing rights certificate account 5,200
    U.S. Treasury, agency debt, and mortgage-backed securities pledged 1,2 1,038,913
    Other assets pledged 0
Memo:  
Total U.S. Treasury, agency debt, and mortgage-backed securities 1,2 2,613,456
    Less: Face value of securities under reverse repurchase agreements 89,020
        U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 2,524,436
Note: Components may not sum to totals because of rounding.


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

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Last update: March 15, 2012