FEDERAL RESERVE statistical release H.4.1 Factors Affecting Reserve Balances of Depository Institutions and Condition Statement of Federal Reserve Banks June 27, 2013 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 Jun 26, 2013 Federal Reserve Banks Jun 26, 2013 Jun 19, 2013 Jun 27, 2012 Reserve Bank credit 3,442,861 + 24,485 + 615,809 3,435,940 Securities held outright (1) 3,213,098 + 23,027 + 592,171 3,207,189 U.S. Treasury securities 1,923,266 + 11,051 + 256,498 1,928,416 Bills (2) 0 0 - 18,423 0 Notes and bonds, nominal (2) 1,827,642 + 11,074 + 257,026 1,832,800 Notes and bonds, inflation-indexed (2) 83,026 0 + 15,111 83,026 Inflation compensation (3) 12,598 - 23 + 2,783 12,589 Federal agency debt securities (2) 70,658 - 33 - 20,826 70,658 Mortgage-backed securities (4) 1,219,174 + 12,009 + 356,500 1,208,116 Unamortized premiums on securities held outright (5) 204,062 + 1,131 + 65,651 203,783 Unamortized discounts on securities held outright (5) -2,211 - 116 - 32 -2,320 Repurchase agreements (6) 87 + 87 + 87 0 Loans 367 + 9 - 4,531 384 Primary credit 24 - 1 - 3 29 Secondary credit 0 0 0 0 Seasonal credit 80 + 17 + 11 97 Term Asset-Backed Securities Loan Facility (7) 264 - 5 - 4,538 258 Other credit extensions 0 0 0 0 Net portfolio holdings of Maiden Lane LLC (8) 1,419 - 5 - 1,056 1,418 Net portfolio holdings of Maiden Lane II LLC (9) 64 0 + 46 64 Net portfolio holdings of Maiden Lane III LLC (10) 22 0 - 12,281 22 Net portfolio holdings of TALF LLC (11) 281 0 - 564 281 Float -635 + 111 + 17 -765 Central bank liquidity swaps (12) 1,480 - 292 - 25,579 1,480 Other Federal Reserve assets (13) 24,826 + 532 + 1,878 24,403 Foreign currency denominated assets (14) 23,725 - 568 - 1,348 23,642 Gold stock 11,041 0 0 11,041 Special drawing rights certificate account 5,200 0 0 5,200 Treasury currency outstanding (15) 45,139 + 14 + 630 45,139 Total factors supplying reserve funds 3,527,966 + 23,931 + 615,092 3,520,962 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 Jun 26, 2013 Federal Reserve Banks Jun 26, 2013 Jun 19, 2013 Jun 27, 2012 Currency in circulation (15) 1,190,541 + 2,035 + 82,429 1,193,377 Reverse repurchase agreements (16) 88,579 - 2,553 + 4,488 88,693 Foreign official and international accounts 88,579 - 2,553 + 4,488 88,693 Others 0 0 0 0 Treasury cash holdings 117 - 8 - 3 121 Deposits with F.R. Banks, other than reserve balances 204,224 + 39,861 + 17,896 159,825 Term deposits held by depository institutions 0 - 10,496 0 0 U.S. Treasury, General Account 97,212 + 18,083 - 31,937 94,271 Foreign official 10,033 + 358 + 8,378 10,014 Service-related 0 0 - 1,896 0 Required clearing balances 0 0 - 1,896 0 Adjustments to compensate for float 0 0 0 0 Other 96,979 + 31,916 + 43,351 55,540 Other liabilities and capital (17) 62,750 - 2,842 - 10,242 61,218 Total factors, other than reserve balances, absorbing reserve funds 1,546,212 + 36,493 + 94,569 1,503,234 Reserve balances with Federal Reserve Banks 1,981,754 - 12,561 + 520,523 2,017,728 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. Reflects the premium or discount, which is the difference between the purchase price and the face value of the securities that has not been amortized. For U.S. Treasury and Federal agency debt securities, amortization is on a straight-line basis. For mortgage-backed securities, amortization is on an effective-interest basis. 6. Cash value of agreements. 7. Includes credit extended by the Federal Reserve Bank of New York to eligible borrowers through the Term Asset-Backed Securities Loan Facility. 8. Refer to table 4 and the note on consolidation accompanying table 9. 9. Refer to table 5 and the note on consolidation accompanying table 9. 10. Refer to table 6 and the note on consolidation accompanying table 9. 11. Refer to table 7 and the note on consolidation accompanying 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 accrued interest, which represents the daily accumulation of interest earned, and other accounts receivable. Also, includes Reserve Bank premises and equipment net of allowances for depreciation. 14. Revalued daily at current foreign currency exchange rates. 15. Estimated. 16. Cash value of agreements, which are collateralized by U.S. Treasury securities, federal agency debt securities, and mortgage-backed securities. 17. 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 Week ended Change from week ended Jun 26, 2013 Jun 26, 2013 Jun 19, 2013 Jun 27, 2012 Securities held in custody for foreign official and international accounts 3,290,397 - 12,005 + 170,950 3,274,838 Marketable U.S. Treasury securities (1) 2,948,486 - 15,270 + 207,833 2,934,015 Federal agency debt and mortgage-backed securities (2) 303,519 + 3,128 - 37,908 302,374 Other securities (3) 38,391 + 135 + 1,025 38,449 Securities lent to dealers 20,004 + 5,415 + 6,429 19,565 Overnight facility (4) 20,004 + 5,415 + 6,429 19,565 U.S. Treasury securities 19,170 + 5,540 + 6,292 18,609 Federal agency debt securities 834 - 125 + 137 956 Note: Components may not sum to totals because of rounding. 1. Includes securities and U.S. Treasury STRIPS at face value, and inflation compensation on TIPS. Does not include securities pledged as collateral to foreign official and international account holders against reverse repurchase agreements with the Federal Reserve presented in tables 1, 8, and 9. 2. Face value of federal agency securities and current face value of mortgage-backed securities, which is the remaining principal balance of the underlying mortgages. 3. Includes non-marketable U.S. Treasury securities, supranationals, corporate bonds, asset-backed securities, and commercial paper at face value. 4. Face value. Fully collateralized by U.S. Treasury securities. 2. Maturity Distribution of Securities, Loans, and Selected Other Assets and Liabilities, June 26, 2013 Millions of dollars Remaining Maturity Within 15 16 days to 91 days to Over 1 year Over 5 year Over 10 All days 90 days 1 year to 5 years to 10 years years Loans (1) 112 14 0 258 0 ... 384 U.S. Treasury securities (2) Holdings 1 3 343 547,245 879,602 501,221 1,928,416 Weekly changes 0 0 0 - 3 + 6,810 + 2,903 + 9,710 Federal agency debt securities (3) Holdings 1,478 5,528 19,993 41,250 62 2,347 70,658 Weekly changes 0 0 0 0 0 0 0 Mortgage-backed securities (4) Holdings 0 0 0 1 2,625 1,205,489 1,208,116 Weekly changes 0 0 0 0 - 61 - 804 - 865 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) 1 1,479 0 0 0 0 1,480 Reverse repurchase agreements (6) 88,693 0 ... ... ... ... 88,693 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 Jun 26, 2013 Mortgage-backed securities held outright (1) 1,208,116 Commitments to buy mortgage-backed securities (2) 76,602 Commitments to sell mortgage-backed securities (2) 200 Cash and cash equivalents (3) 142 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 Jun 26, 2013 Net portfolio holdings of Maiden Lane LLC (1) 1,418 Outstanding principal amount of loan extended by the Federal Reserve Bank of New York (2) 0 Accrued interest payable to the Federal Reserve Bank of New York (2) 0 Outstanding principal amount and accrued interest on loan payable to JPMorgan Chase & Co. (3) 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, 2013. 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 Jun 26, 2013 Net portfolio holdings of Maiden Lane II LLC (1) 64 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, 2013. 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 Jun 26, 2013 Net portfolio holdings of Maiden Lane III LLC (1) 22 Outstanding principal amount of loan extended by the Federal Reserve Bank of New York (2) 0 Accrued interest payable to the Federal Reserve Bank of New York (2) 0 Outstanding principal amount and accrued interest on loan payable to American International Group, Inc. (3) 0 1. Fair value. Fair value reflects an estimate of the price that would be received upon selling an asset if the transaction were to be conducted in an orderly market on the measurement date. Revalued quarterly. This table reflects valuations as of March 31, 2013. 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 Jun 26, 2013 Asset-backed securities holdings (1) 0 Other investments, net 281 Net portfolio holdings of TALF LLC 281 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) 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. 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 then by the interest received on investments of TALF LLC. 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 Wednesday Change since from Jun 26, 2013 Wednesday Wednesday consolidation Jun 19, 2013 Jun 27, 2012 Assets Gold certificate account 11,037 0 0 Special drawing rights certificate account 5,200 0 0 Coin 1,980 - 5 - 155 Securities, unamortized premiums and discounts, repurchase agreements, and loans 3,409,037 + 9,135 + 654,689 Securities held outright (1) 3,207,189 + 8,845 + 594,196 U.S. Treasury securities 1,928,416 + 9,710 + 261,886 Bills (2) 0 0 - 18,423 Notes and bonds, nominal (2) 1,832,800 + 9,733 + 262,443 Notes and bonds, inflation-indexed (2) 83,026 0 + 15,111 Inflation compensation (3) 12,589 - 23 + 2,754 Federal agency debt securities (2) 70,658 0 - 20,826 Mortgage-backed securities (4) 1,208,116 - 865 + 353,137 Unamortized premiums on securities held outright (5) 203,783 + 465 + 65,134 Unamortized discounts on securities held outright (5) -2,320 - 197 - 169 Repurchase agreements (6) 0 0 0 Loans 384 + 20 - 4,474 Net portfolio holdings of Maiden Lane LLC (7) 1,418 - 1 - 1,005 Net portfolio holdings of Maiden Lane II LLC (8) 64 0 + 46 Net portfolio holdings of Maiden Lane III LLC (9) 22 0 - 12,568 Net portfolio holdings of TALF LLC (10) 281 0 - 564 Items in process of collection (0) 108 - 7 - 58 Bank premises 2,299 0 - 65 Central bank liquidity swaps (11) 1,480 - 292 - 25,579 Foreign currency denominated assets (12) 23,642 - 650 - 1,402 Other assets (13) 22,105 - 37 + 1,787 Total assets (0) 3,478,672 + 8,142 + 615,125 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 Wednesday Change since from Jun 26, 2013 Wednesday Wednesday consolidation Jun 19, 2013 Jun 27, 2012 Liabilities Federal Reserve notes, net of F.R. Bank holdings 1,150,335 + 3,458 + 82,418 Reverse repurchase agreements (14) 88,693 + 326 + 4,956 Deposits (0) 2,177,554 + 7,263 + 538,540 Term deposits held by depository institutions 0 - 10,496 0 Other deposits held by depository institutions 2,017,729 + 89,331 + 525,741 U.S. Treasury, General Account 94,271 - 23,016 - 23,652 Foreign official 10,014 - 76 + 8,436 Other (0) 55,540 - 48,480 + 28,014 Deferred availability cash items (0) 872 - 9 - 84 Other liabilities and accrued dividends (15) 6,242 - 2,896 - 11,012 Total liabilities (0) 3,423,696 + 8,142 + 614,818 Capital accounts Capital paid in 27,488 0 + 154 Surplus 27,488 0 + 154 Other capital accounts 0 0 0 Total capital 54,977 + 1 + 308 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. Reflects the premium or discount, which is the difference between the purchase price and the face value of the securities that has not been amortized. For U.S. Treasury and Federal agency debt securities, amortization is on a straight-line basis. For mortgage-backed securities, amortization is on an effective-interest basis. 6. Cash value of agreements, which are collateralized by U.S. Treasury and federal agency securities. 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. Revalued daily at current foreign currency exchange rates. 13. Includes accrued interest, which represents the daily accumulation of interest earned, and other accounts receivable. 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. 9. Statement of Condition of Each Federal Reserve Bank, June 26, 2013 Millions of dollars Assets, liabilities, and capital Total Boston New York Philadelphia Cleveland Richmond Atlanta Chicago St. Louis Minneapolis Kansas Dallas San City Francisco Assets Gold certificate account 11,037 391 3,925 397 512 856 1,421 792 310 190 309 728 1,206 Special drawing rights certificate acct. 5,200 196 1,818 210 237 412 654 424 150 90 153 282 574 Coin 1,980 35 87 122 133 348 187 293 28 50 159 196 344 Securities, unamortized premiums and discounts, repurchase agreements, and loans 3,409,037 89,135 1,890,495 98,763 87,054 211,953 226,460 184,218 54,855 32,374 64,515 132,369 336,845 Securities held outright (1) 3,207,189 83,865 1,778,518 92,926 81,908 199,426 213,049 173,305 51,605 30,434 60,676 124,543 316,934 U.S. Treasury securities 1,928,416 50,426 1,069,385 55,874 49,250 119,910 128,102 104,205 31,029 18,299 36,483 74,885 190,566 Bills (2) 0 0 0 0 0 0 0 0 0 0 0 0 0 Notes and bonds (3) 1,928,416 50,426 1,069,385 55,874 49,250 119,910 128,102 104,205 31,029 18,299 36,483 74,885 190,566 Federal agency debt securities (2) 70,658 1,848 39,183 2,047 1,805 4,394 4,694 3,818 1,137 670 1,337 2,744 6,982 Mortgage-backed securities (4) 1,208,116 31,591 669,950 35,004 30,854 75,122 80,254 65,282 19,439 11,464 22,856 46,914 119,386 Unamortized premiums on securities held outright (5) 203,783 5,329 113,006 5,904 5,204 12,671 13,537 11,012 3,279 1,934 3,855 7,913 20,138 Unamortized discounts on securities held outright (5) -2,320 -61 -1,287 -67 -59 -144 -154 -125 -37 -22 -44 -90 -229 Repurchase agreements (6) 0 0 0 0 0 0 0 0 0 0 0 0 0 Loans 384 2 258 0 0 0 28 27 9 29 27 3 2 Net portfolio holdings of Maiden Lane LLC (7) 1,418 0 1,418 0 0 0 0 0 0 0 0 0 0 Net portfolio holdings of Maiden Lane II LLC (8) 64 0 64 0 0 0 0 0 0 0 0 0 0 Net portfolio holdings of Maiden Lane III LLC (9) 22 0 22 0 0 0 0 0 0 0 0 0 0 Net portfolio holdings of TALF LLC (10) 281 0 281 0 0 0 0 0 0 0 0 0 0 Items in process of collection 108 0 0 0 0 0 107 0 0 0 0 0 0 Bank premises 2,299 120 429 72 113 229 212 202 129 101 250 235 207 Central bank liquidity swaps (11) 1,480 73 473 114 115 311 84 42 12 6 15 23 210 Foreign currency denominated assets (12) 23,642 1,162 7,560 1,828 1,844 4,964 1,347 674 197 99 239 375 3,353 Other assets (13) 22,105 610 11,831 649 579 1,554 1,483 1,186 387 268 438 957 2,163 Interdistrict settlement account 0 - 22,207 + 280,840 - 27,238 - 18,369 - 37,379 - 36,364 - 46,118 - 13,271 - 13,365 - 21,734 - 40,090 - 4,705 Total assets 3,478,672 69,515 2,199,243 74,918 72,218 183,247 195,591 141,712 42,798 19,814 44,345 95,076 340,196 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, June 26, 2013 (continued) Millions of dollars Assets, liabilities, and capital Total Boston New York Philadelphia Cleveland Richmond Atlanta Chicago St. Louis Minneapolis Kansas Dallas San City Francisco Liabilities Federal Reserve notes outstanding 1,455,437 46,730 552,862 45,914 60,653 109,647 180,379 94,880 36,743 23,365 38,705 105,512 160,047 Less: Notes held by F.R. Banks 305,102 12,953 91,371 8,079 9,338 12,727 34,554 19,026 4,261 10,719 12,807 55,294 33,973 Federal Reserve notes, net 1,150,335 33,777 461,491 37,835 51,315 96,920 145,824 75,854 32,481 12,646 25,899 50,219 126,074 Reverse repurchase agreements (14) 88,693 2,319 49,184 2,570 2,265 5,515 5,892 4,793 1,427 842 1,678 3,444 8,765 Deposits 2,177,554 30,637 1,667,761 30,064 14,060 68,668 39,596 59,238 8,281 5,801 16,073 40,258 197,116 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 2,017,729 30,633 1,508,144 30,027 14,057 68,573 39,583 59,203 8,281 5,801 16,071 40,256 197,100 U.S. Treasury, General Account 94,271 0 94,271 0 0 0 0 0 0 0 0 0 0 Foreign official 10,014 2 9,987 3 3 8 2 1 0 0 0 1 6 Other 55,540 1 55,360 34 0 87 10 34 0 0 1 2 10 Deferred availability cash items 872 0 0 0 0 0 713 0 0 160 0 0 0 Interest on Federal Reserve notes due to U.S. Treasury (15) 523 4 370 -15 0 -1 40 43 12 8 14 37 11 Other liabilities and accrued dividends (16) 5,719 179 2,890 238 232 614 342 273 132 124 117 197 380 Total liabilities 3,423,696 66,917 2,181,695 70,692 67,872 171,717 192,407 140,201 42,333 19,580 43,781 94,155 332,345 Capital Capital paid in 27,488 1,299 8,774 2,113 2,173 5,765 1,592 756 232 117 282 460 3,926 Surplus 27,488 1,299 8,774 2,113 2,173 5,765 1,592 756 232 117 282 460 3,926 Other capital 0 0 0 0 0 0 0 0 0 0 0 0 0 Total liabilities and capital 3,478,672 69,515 2,199,243 74,918 72,218 183,247 195,591 141,712 42,798 19,814 44,345 95,076 340,196 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, June 26, 2013 (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. Reflects the premium or discount, which is the difference between the purchase price and the face value of the securities that has not been amortized. For U.S. Treasury and Federal agency debt securities, amortization is on a straight-line basis. For mortgage-backed securities, amortization is on an effective-interest basis. 6. Cash value of agreements, which are collateralized by U.S. Treasury and federal agency securities. 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 7 and the note on consolidation below. 11. Dollar value of foreign currency held under these agreements valued at the exchange rate to be used when the foreign currency is returned to the foreign central bank. This exchange rate equals the market exchange rate used when the foreign currency was acquired from the foreign central bank. 12. Revalued daily at current foreign currency exchange rates. 13. Includes accrued interest, which represents the daily accumulation of interest earned, and other accounts receivable. 14. Cash value of agreements, which are collateralized by U.S. Treasury securities, federal agency debt securities, and mortgage-backed securities. 15. 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. 16. 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 Jun 26, 2013 Federal Reserve notes outstanding 1,455,437 Less: Notes held by F.R. Banks not subject to collateralization 305,102 Federal Reserve notes to be collateralized 1,150,335 Collateral held against Federal Reserve notes 1,150,335 Gold certificate account 11,037 Special drawing rights certificate account 5,200 U.S. Treasury, agency debt, and mortgage-backed securities pledged (1,2) 1,134,098 Other assets pledged 0 Memo: Total U.S. Treasury, agency debt, and mortgage-backed securities (1,2) 3,207,189 Less: Face value of securities under reverse repurchase agreements 79,738 U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 3,127,452 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.