FEDERAL RESERVE statistical release H.4.1 Factors Affecting Reserve Balances of Depository Institutions and Condition Statement of Federal Reserve Banks June 26, 2014 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 25, 2014 Federal Reserve Banks Jun 25, 2014 Jun 18, 2014 Jun 26, 2013 Reserve Bank credit 4,332,168 + 9,746 + 889,307 4,325,612 Securities held outright (1) 4,109,497 + 9,008 + 896,399 4,104,528 U.S. Treasury securities 2,394,367 + 5,850 + 471,101 2,396,972 Bills (2) 0 0 0 0 Notes and bonds, nominal (2) 2,281,913 + 5,645 + 454,271 2,284,487 Notes and bonds, inflation-indexed (2) 96,771 + 100 + 13,745 96,771 Inflation compensation (3) 15,683 + 105 + 3,085 15,715 Federal agency debt securities (2) 43,659 - 363 - 26,999 43,659 Mortgage-backed securities (4) 1,671,470 + 3,519 + 452,296 1,663,897 Unamortized premiums on securities held outright (5) 209,758 - 74 + 5,696 209,464 Unamortized discounts on securities held outright (5) -18,398 - 87 - 16,187 -18,433 Repurchase agreements (6) 0 0 - 87 0 Loans 204 + 37 - 163 274 Primary credit 30 + 12 + 6 83 Secondary credit 0 0 0 0 Seasonal credit 125 + 25 + 45 141 Term Asset-Backed Securities Loan Facility (7) 50 0 - 214 49 Other credit extensions 0 0 0 0 Net portfolio holdings of Maiden Lane LLC (8) 1,654 0 + 235 1,654 Net portfolio holdings of Maiden Lane II LLC (9) 63 0 - 1 63 Net portfolio holdings of Maiden Lane III LLC (10) 22 0 0 22 Net portfolio holdings of TALF LLC (11) 90 0 - 191 90 Float -486 + 130 + 149 -525 Central bank liquidity swaps (12) 124 - 52 - 1,356 124 Other Federal Reserve assets (13) 29,641 + 784 + 4,815 28,351 Foreign currency denominated assets (14) 23,944 + 62 + 219 24,010 Gold stock 11,041 0 0 11,041 Special drawing rights certificate account 5,200 0 0 5,200 Treasury currency outstanding (15) 45,926 + 14 + 795 45,926 Total factors supplying reserve funds 4,418,280 + 9,823 + 890,321 4,411,790 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 25, 2014 Federal Reserve Banks Jun 25, 2014 Jun 18, 2014 Jun 26, 2013 Currency in circulation (15) 1,278,520 - 328 + 87,987 1,280,096 Reverse repurchase agreements (16) 213,745 + 37,589 + 125,166 222,743 Foreign official and international accounts 103,437 - 969 + 14,858 103,070 Others 110,308 + 38,558 + 110,308 119,673 Treasury cash holdings 161 - 17 + 44 146 Deposits with F.R. Banks, other than reserve balances 220,960 + 36,700 + 16,736 217,354 Term deposits held by depository institutions 92,690 + 14,921 + 92,690 92,690 U.S. Treasury, General Account 107,244 + 22,769 + 10,032 108,064 Foreign official 5,960 + 9 - 4,073 5,952 Other (17) 15,067 - 997 - 81,912 10,648 Other liabilities and capital (18) 64,590 - 500 + 1,840 63,396 Total factors, other than reserve balances, absorbing reserve funds 1,777,977 + 73,445 + 231,773 1,783,735 Reserve balances with Federal Reserve Banks 2,640,303 - 63,622 + 658,549 2,628,055 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. The current face value shown is the remaining principal balance of the securities. 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 deposits held at the Reserve Banks by international and multilateral organizations, government-sponsored enterprises, and designated financial market utilities. 18. 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 25, 2014 Jun 25, 2014 Jun 18, 2014 Jun 26, 2013 Securities held in custody for foreign official and international accounts 3,315,003 + 8,586 + 24,606 3,305,524 Marketable U.S. Treasury securities (1) 2,980,630 + 8,414 + 32,144 2,971,818 Federal agency debt and mortgage-backed securities (2) 292,953 + 308 - 10,566 292,279 Other securities (3) 41,420 - 136 + 3,029 41,427 Securities lent to dealers 13,286 + 596 - 6,718 14,163 Overnight facility (4) 13,286 + 596 - 6,718 14,163 U.S. Treasury securities 12,225 + 574 - 6,945 13,003 Federal agency debt securities 1,062 + 22 + 228 1,160 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 securities. 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 25, 2014 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) 224 16 34 0 0 ... 274 U.S. Treasury securities (2) Holdings 1 46 1,995 931,888 821,260 641,782 2,396,972 Weekly changes 0 0 0 + 11 + 4,399 + 1,085 + 5,495 Federal agency debt securities (3) Holdings 0 3,653 4,111 33,548 0 2,347 43,659 Weekly changes 0 0 0 0 0 0 0 Mortgage-backed securities (4) Holdings 0 0 0 10 3,725 1,660,162 1,663,897 Weekly changes 0 0 0 0 - 58 - 4,431 - 4,489 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) 0 124 0 0 0 0 124 Reverse repurchase agreements (6) 222,743 0 ... ... ... ... 222,743 Term deposits 92,690 0 0 ... ... ... 92,690 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. The current face value shown is the remaining principal balance of the securities. 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 25, 2014 Mortgage-backed securities held outright (1) 1,663,897 Commitments to buy mortgage-backed securities (2) 53,970 Commitments to sell mortgage-backed securities (2) 0 Cash and cash equivalents (3) 30 1. Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. The current face value shown is the remaining principal balance of the securities. 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 25, 2014 Net portfolio holdings of Maiden Lane LLC (1) 1,654 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, 2014. 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 25, 2014 Net portfolio holdings of Maiden Lane II LLC (1) 63 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, 2014. 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 25, 2014 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, 2014. 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 25, 2014 Asset-backed securities holdings (1) 0 Other investments, net 90 Net portfolio holdings of TALF LLC 90 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) extended loans with a term of up to five years to holders of eligible asset-backed securities. The Federal Reserve closed the TALF for new loan extensions in 2010. 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. 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. Prior to January 15, 2013, the U.S. Treasury's Troubled Asset Relief Program (TARP) committed backup funding to TALF LLC, providing credit protection to the FRBNY. However, the accumulated fees and income collected through the TALF and held by TALF LLC now exceed the remaining amount of TALF loans outstanding. Accordingly, the TARP credit protection commitment has been terminated, and TALF LLC has begun to distribute excess proceeds to the Treasury and the FRBNY. 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 25, 2014 Wednesday Wednesday consolidation Jun 18, 2014 Jun 26, 2013 Assets Gold certificate account 11,037 0 0 Special drawing rights certificate account 5,200 0 0 Coin 1,893 - 3 - 87 Securities, unamortized premiums and discounts, repurchase agreements, and loans 4,295,834 + 687 + 886,797 Securities held outright (1) 4,104,528 + 1,006 + 897,339 U.S. Treasury securities 2,396,972 + 5,495 + 468,556 Bills (2) 0 0 0 Notes and bonds, nominal (2) 2,284,487 + 5,409 + 451,687 Notes and bonds, inflation-indexed (2) 96,771 0 + 13,745 Inflation compensation (3) 15,715 + 87 + 3,126 Federal agency debt securities (2) 43,659 0 - 26,999 Mortgage-backed securities (4) 1,663,897 - 4,489 + 455,781 Unamortized premiums on securities held outright (5) 209,464 - 337 + 5,681 Unamortized discounts on securities held outright (5) -18,433 - 90 - 16,113 Repurchase agreements (6) 0 0 0 Loans 274 + 106 - 110 Net portfolio holdings of Maiden Lane LLC (7) 1,654 0 + 236 Net portfolio holdings of Maiden Lane II LLC (8) 63 0 - 1 Net portfolio holdings of Maiden Lane III LLC (9) 22 0 0 Net portfolio holdings of TALF LLC (10) 90 0 - 191 Items in process of collection (0) 66 - 40 - 42 Bank premises 2,263 0 - 36 Central bank liquidity swaps (11) 124 - 52 - 1,356 Foreign currency denominated assets (12) 24,010 + 116 + 368 Other assets (13) 26,093 - 528 + 3,988 Total assets (0) 4,368,348 + 180 + 889,676 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 25, 2014 Wednesday Wednesday consolidation Jun 18, 2014 Jun 26, 2013 Liabilities Federal Reserve notes, net of F.R. Bank holdings 1,236,205 + 433 + 85,870 Reverse repurchase agreements (14) 222,743 + 31,318 + 134,050 Deposits (0) 2,845,413 - 31,495 + 667,859 Term deposits held by depository institutions 92,690 + 14,921 + 92,690 Other deposits held by depository institutions 2,628,060 - 9,525 + 610,331 U.S. Treasury, General Account 108,064 - 39,555 + 13,793 Foreign official 5,952 + 1 - 4,062 Other (15) (0) 10,648 + 2,664 - 44,892 Deferred availability cash items (0) 591 - 136 - 281 Other liabilities and accrued dividends (16) 7,074 + 50 + 832 Total liabilities (0) 4,312,026 + 170 + 888,330 Capital accounts Capital paid in 28,161 + 5 + 673 Surplus 28,161 + 5 + 673 Other capital accounts 0 0 0 Total capital 56,321 + 9 + 1,344 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. The current face value shown is the remaining principal balance of the securities. 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 deposits held at the Reserve Banks by international and multilateral organizations, government-sponsored enterprises, and designated financial market utilities. 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 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 25, 2014 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 11,037 352 4,125 338 464 824 1,349 706 278 173 291 880 1,257 Special drawing rights certificate acct. 5,200 196 1,818 210 237 412 654 424 150 90 153 282 574 Coin 1,893 33 82 120 118 318 220 276 23 47 152 180 325 Securities, unamortized premiums and discounts, repurchase agreements, and loans 4,295,834 86,892 2,636,507 102,909 93,787 240,082 237,480 175,579 53,016 26,378 56,591 130,896 455,717 Securities held outright (1) 4,104,528 83,027 2,519,210 98,332 89,616 229,405 226,896 167,758 50,627 25,154 54,066 125,066 435,372 U.S. Treasury securities 2,396,972 48,487 1,471,174 57,424 52,334 133,968 132,503 97,968 29,565 14,689 31,574 73,036 254,249 Bills (2) 0 0 0 0 0 0 0 0 0 0 0 0 0 Notes and bonds (3) 2,396,972 48,487 1,471,174 57,424 52,334 133,968 132,503 97,968 29,565 14,689 31,574 73,036 254,249 Federal agency debt securities (2) 43,659 883 26,796 1,046 953 2,440 2,413 1,784 539 268 575 1,330 4,631 Mortgage-backed securities (4) 1,663,897 33,658 1,021,239 39,862 36,329 92,996 91,979 68,006 20,523 10,197 21,917 50,699 176,491 Unamortized premiums on securities held outright (5) 209,464 4,237 128,561 5,018 4,573 11,707 11,579 8,561 2,584 1,284 2,759 6,382 22,218 Unamortized discounts on securities held outright (5) -18,433 -373 -11,313 -442 -402 -1,030 -1,019 -753 -227 -113 -243 -562 -1,955 Repurchase agreements (6) 0 0 0 0 0 0 0 0 0 0 0 0 0 Loans 274 0 50 0 0 0 24 14 33 54 8 9 83 Net portfolio holdings of Maiden Lane LLC (7) 1,654 0 1,654 0 0 0 0 0 0 0 0 0 0 Net portfolio holdings of Maiden Lane II LLC (8) 63 0 63 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) 90 0 90 0 0 0 0 0 0 0 0 0 0 Items in process of collection 66 0 0 0 0 0 65 0 0 1 0 0 0 Bank premises 2,263 122 430 74 110 223 210 198 125 98 244 227 202 Central bank liquidity swaps (11) 124 6 40 9 10 26 7 3 1 1 1 2 18 Foreign currency denominated assets (12) 24,010 1,092 7,724 1,805 1,909 5,006 1,380 663 202 101 253 401 3,474 Other assets (13) 26,093 569 15,661 628 572 1,616 1,431 1,061 374 229 366 888 2,697 Interdistrict settlement account 0 + 25,992 + 47,286 - 4,351 - 6,608 - 10,498 + 5,937 - 32,065 - 11,535 - 3,593 - 5,998 - 6,262 + 1,695 Total assets 4,368,348 115,252 2,715,502 101,742 90,599 238,010 248,734 146,845 42,634 23,525 52,053 127,494 465,959 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 25, 2014 (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 1,452,467 45,267 503,904 43,100 64,234 105,586 212,729 92,964 36,589 21,370 37,580 116,106 173,040 Less: Notes held by F.R. Banks 216,263 5,088 68,006 6,270 9,364 11,478 22,129 15,432 5,119 5,076 5,811 31,990 30,499 Federal Reserve notes, net 1,236,205 40,179 435,898 36,830 54,869 94,107 190,599 77,532 31,470 16,294 31,769 84,116 142,541 Reverse repurchase agreements (14) 222,743 4,506 136,712 5,336 4,863 12,449 12,313 9,104 2,747 1,365 2,934 6,787 23,627 Deposits 2,845,413 67,781 2,121,316 55,056 26,136 119,158 41,583 58,314 7,764 5,433 16,606 35,393 290,874 Term deposits held by depository institutions 92,690 50 80,447 5 1,740 47 205 6,180 65 42 4 205 3,700 Other deposits held by depository institutions 2,628,060 67,728 1,916,386 55,020 24,392 118,997 41,369 52,127 7,698 5,391 16,600 35,186 287,166 U.S. Treasury, General Account 108,064 0 108,064 0 0 0 0 0 0 0 0 0 0 Foreign official 5,952 2 5,925 3 3 8 2 1 0 0 0 1 6 Other (15) 10,648 1 10,495 28 0 106 7 7 0 0 1 1 3 Deferred availability cash items 591 0 0 0 0 0 521 0 0 70 0 0 0 Interest on Federal Reserve notes due to U.S. Treasury (16) 1,940 38 1,173 49 49 128 106 79 16 9 23 62 208 Other liabilities and accrued dividends (17) 5,134 191 2,015 245 243 641 387 288 141 119 135 210 517 Total liabilities 4,312,026 112,694 2,697,114 97,516 86,160 226,483 245,510 145,318 42,138 23,290 51,467 126,568 457,767 Capital Capital paid in 28,161 1,279 9,194 2,113 2,219 5,763 1,612 764 248 117 293 463 4,096 Surplus 28,161 1,279 9,194 2,113 2,219 5,763 1,612 764 248 117 293 463 4,096 Other capital 0 0 0 0 0 0 0 0 0 0 0 0 0 Total liabilities and capital 4,368,348 115,252 2,715,502 101,742 90,599 238,010 248,734 146,845 42,634 23,525 52,053 127,494 465,959 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 25, 2014 (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. The current face value shown is the remaining principal balance of the securities. 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. Includes deposits held at the Reserve Banks by international and multilateral organizations, government-sponsored enterprises, and designated financial market utilities. 16. 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. 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 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 25, 2014 Federal Reserve notes outstanding 1,452,467 Less: Notes held by F.R. Banks not subject to collateralization 216,263 Federal Reserve notes to be collateralized 1,236,205 Collateral held against Federal Reserve notes 1,236,205 Gold certificate account 11,037 Special drawing rights certificate account 5,200 U.S. Treasury, agency debt, and mortgage-backed securities pledged (1,2) 1,219,968 Other assets pledged 0 Memo: Total U.S. Treasury, agency debt, and mortgage-backed securities (1,2) 4,104,528 Less: Face value of securities under reverse repurchase agreements 216,732 U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 3,887,796 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.