FEDERAL RESERVE statistical release H.4.1 Factors Affecting Reserve Balances of Depository Institutions and Condition Statement of Federal Reserve Banks October 9, 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 Oct 8, 2014 Federal Reserve Banks Oct 8, 2014 Oct 1, 2014 Oct 9, 2013 Reserve Bank credit 4,411,712 + 3,868 + 700,812 4,414,130 Securities held outright (1) 4,189,420 + 2,772 + 703,607 4,190,889 U.S. Treasury securities 2,452,988 + 2,768 + 369,973 2,454,457 Bills (2) 0 0 0 0 Notes and bonds, nominal (2) 2,338,230 + 2,761 + 355,786 2,339,461 Notes and bonds, inflation-indexed (2) 98,228 + 40 + 11,019 98,469 Inflation compensation (3) 16,530 - 33 + 3,168 16,528 Federal agency debt securities (2) 40,006 0 - 20,646 40,006 Mortgage-backed securities (4) 1,696,425 + 3 + 354,278 1,696,426 Unamortized premiums on securities held outright (5) 209,062 - 225 + 5,009 208,999 Unamortized discounts on securities held outright (5) -18,751 - 25 - 11,281 -18,757 Repurchase agreements (6) 0 0 0 0 Loans 229 - 51 - 8 221 Primary credit 6 - 17 - 1 7 Secondary credit 0 0 0 0 Seasonal credit 209 - 33 + 79 200 Term Asset-Backed Securities Loan Facility (7) 14 0 - 87 14 Other credit extensions 0 0 0 0 Net portfolio holdings of Maiden Lane LLC (8) 1,665 + 1 + 172 1,671 Net portfolio holdings of Maiden Lane II LLC (9) 0 0 - 64 0 Net portfolio holdings of Maiden Lane III LLC (9) 0 0 - 22 0 Net portfolio holdings of TALF LLC (10) 35 - 9 - 76 24 Float -641 - 68 + 87 -615 Central bank liquidity swaps (11) 0 - 206 - 232 0 Other Federal Reserve assets (12) 30,693 + 1,677 + 3,621 31,698 Foreign currency denominated assets (13) 22,290 - 65 - 2,029 22,428 Gold stock 11,041 0 0 11,041 Special drawing rights certificate account 5,200 0 0 5,200 Treasury currency outstanding (14) 46,175 + 14 + 824 46,175 Total factors supplying reserve funds 4,496,418 + 3,817 + 699,607 4,498,973 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 Oct 8, 2014 Federal Reserve Banks Oct 8, 2014 Oct 1, 2014 Oct 9, 2013 Currency in circulation (14) 1,291,621 + 2,513 + 80,984 1,293,713 Reverse repurchase agreements (15) 280,733 - 17,737 + 182,482 277,866 Foreign official and international accounts 97,070 - 3,683 + 5 95,335 Others 183,663 - 14,054 + 182,477 182,531 Treasury cash holdings 186 + 23 + 8 193 Deposits with F.R. Banks, other than reserve balances 110,643 - 25,060 + 48,280 98,249 Term deposits held by depository institutions 0 0 - 11,662 0 U.S. Treasury, General Account 96,461 - 22,776 + 67,733 85,309 Foreign official 5,248 + 4 - 3,641 5,243 Other (16) 8,934 - 2,288 - 4,150 7,697 Other liabilities and capital (17) 63,887 + 446 - 2,105 63,336 Total factors, other than reserve balances, absorbing reserve funds 1,747,070 - 39,814 + 309,649 1,733,357 Reserve balances with Federal Reserve Banks 2,749,347 + 43,630 + 389,957 2,765,616 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 7. 9. 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. Refer to the note on consolidation accompanying table 7. 10. Refer to table 5 and the note on consolidation accompanying table 7. 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 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. 13. Revalued daily at current foreign currency exchange rates. 14. Estimated. 15. Cash value of agreements, which are collateralized by U.S. Treasury securities, federal agency debt securities, and mortgage-backed securities. 16. Includes deposits held at the Reserve Banks by international and multilateral organizations, government-sponsored enterprises, and designated financial market utilities. 17. Includes the liabilities of TALF LLC to entities other than the Federal Reserve Bank of New York, including liabilities that have recourse only to the portfolio holdings of this LLC. Refer to table 5 and the note on consolidation accompanying table 7. Also includes the liability for interest on Federal Reserve notes due to U.S. Treasury. Refer to table 6 and table 7. 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 Oct 8, 2014 Oct 8, 2014 Oct 1, 2014 Oct 9, 2013 Securities held in custody for foreign official and international accounts 3,336,625 - 7,612 + 43,013 3,331,670 Marketable U.S. Treasury securities (1) 3,001,521 - 8,876 + 64,623 2,995,698 Federal agency debt and mortgage-backed securities (2) 291,638 + 862 - 26,280 291,840 Other securities (3) 43,466 + 402 + 4,670 44,132 Securities lent to dealers 11,759 - 1,384 - 1,151 12,494 Overnight facility (4) 11,759 - 1,384 - 1,151 12,494 U.S. Treasury securities 11,002 - 1,444 - 860 11,746 Federal agency debt securities 757 + 60 - 290 748 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, 6, and 7. 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, October 8, 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 40 181 0 0 0 ... 221 U.S. Treasury securities (1) Holdings 0 90 3,194 1,047,862 741,439 661,873 2,454,457 Weekly changes 0 + 1 0 - 6 + 1,531 + 1,197 + 2,721 Federal agency debt securities (2) Holdings 306 1,023 3,584 32,746 0 2,347 40,006 Weekly changes 0 0 0 0 0 0 0 Mortgage-backed securities (3) Holdings 0 0 0 10 5,054 1,691,362 1,696,426 Weekly changes 0 0 0 0 + 339 - 337 + 2 Asset-backed securities held by TALF LLC (4) 0 0 0 0 0 0 0 Repurchase agreements (5) 0 0 ... ... ... ... 0 Central bank liquidity swaps (6) 0 0 0 0 0 0 0 Reverse repurchase agreements (5) 277,866 0 ... ... ... ... 277,866 Term deposits 0 0 0 ... ... ... 0 Note: Components may not sum to totals because of rounding. ...Not applicable. 1. 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. 2. Face value. 3. Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. The current face value shown is the remaining principal balance of the securities. 4. Face value of asset-backed securities held by TALF LLC, which is the remaining principal balance of the underlying assets. 5. Cash value of agreements. 6. 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 Oct 8, 2014 Mortgage-backed securities held outright (1) 1,696,426 Commitments to buy mortgage-backed securities (2) 71,392 Commitments to sell mortgage-backed securities (2) 0 Cash and cash equivalents (3) 4 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 6 and table 7. 4. Information on Principal Accounts of Maiden Lane LLC Millions of dollars Account name Wednesday Oct 8, 2014 Net portfolio holdings of Maiden Lane LLC (1) 1,671 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 June 30, 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 7. 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 6 and table 7. 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. The remaining outstanding balances of the senior loan from FRBNY to Maiden Lane LLC, and the subordinated loan from JPMorgan Chase & Co. to Maiden Lane LLC were repaid in full, with interest. 5. Information on Principal Accounts of TALF LLC Millions of dollars Account name Wednesday Oct 8, 2014 Asset-backed securities holdings (1) 0 Other investments, net 24 Net portfolio holdings of TALF LLC 24 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 7. 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 6 and table 7. 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. 6. Consolidated Statement of Condition of All Federal Reserve Banks Millions of dollars Assets, liabilities, and capital Eliminations Wednesday Change since from Oct 8, 2014 Wednesday Wednesday consolidation Oct 1, 2014 Oct 9, 2013 Assets Gold certificate account 11,037 0 0 Special drawing rights certificate account 5,200 0 0 Coin 1,917 - 11 - 83 Securities, unamortized premiums and discounts, repurchase agreements, and loans 4,381,352 + 2,543 + 695,152 Securities held outright (1) 4,190,889 + 2,723 + 701,337 U.S. Treasury securities 2,454,457 + 2,721 + 367,716 Bills (2) 0 0 0 Notes and bonds, nominal (2) 2,339,461 + 2,467 + 353,300 Notes and bonds, inflation-indexed (2) 98,469 + 281 + 11,260 Inflation compensation (3) 16,528 - 27 + 3,156 Federal agency debt securities (2) 40,006 0 - 20,646 Mortgage-backed securities (4) 1,696,426 + 2 + 354,267 Unamortized premiums on securities held outright (5) 208,999 - 174 + 4,960 Unamortized discounts on securities held outright (5) -18,757 + 1 - 11,121 Repurchase agreements (6) 0 0 0 Loans 221 - 7 - 25 Net portfolio holdings of Maiden Lane LLC (7) 1,671 + 7 + 178 Net portfolio holdings of Maiden Lane II LLC (8) 0 0 - 64 Net portfolio holdings of Maiden Lane III LLC (8) 0 0 - 22 Net portfolio holdings of TALF LLC (9) 24 - 20 - 87 Items in process of collection (0) 78 - 12 - 73 Bank premises 2,258 + 1 - 26 Central bank liquidity swaps (10) 0 - 240 - 186 Foreign currency denominated assets (11) 22,428 + 142 - 1,809 Other assets (12) 29,440 + 2,734 + 3,762 Total assets (0) 4,455,403 + 5,143 + 696,740 Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table. 6. Consolidated Statement of Condition of All Federal Reserve Banks (continued) Millions of dollars Assets, liabilities, and capital Eliminations Wednesday Change since from Oct 8, 2014 Wednesday Wednesday consolidation Oct 1, 2014 Oct 9, 2013 Liabilities Federal Reserve notes, net of F.R. Bank holdings 1,249,645 + 2,804 + 78,733 Reverse repurchase agreements (13) 277,866 - 33,426 + 178,781 Deposits (0) 2,863,865 + 35,181 + 441,178 Term deposits held by depository institutions 0 0 - 11,662 Other deposits held by depository institutions 2,765,616 + 79,669 + 402,717 U.S. Treasury, General Account 85,309 - 41,259 + 61,916 Foreign official 5,243 - 4 - 3,634 Other (14) (0) 7,697 - 3,225 - 8,160 Deferred availability cash items (0) 692 - 9 - 177 Other liabilities and accrued dividends (15) 6,938 + 575 - 3,296 Total liabilities (0) 4,399,005 + 5,125 + 695,218 Capital accounts Capital paid in 28,199 + 9 + 761 Surplus 28,199 + 9 + 761 Other capital accounts 0 0 0 Total capital 56,398 + 18 + 1,522 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 7. 8. 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. Refer to the note on consolidation accompanying table 7. 9. Refer to table 5 and the note on consolidation accompanying table 7. 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. Revalued daily at current foreign currency exchange rates. 12. Includes accrued interest, which represents the daily accumulation of interest earned, and other accounts receivable. 13. Cash value of agreements, which are collateralized by U.S. Treasury securities, federal agency debt securities, and mortgage-backed securities. 14. Includes deposits held at the Reserve Banks by international and multilateral organizations, government-sponsored enterprises, and designated financial market utilities. 15. Includes the liabilities of TALF LLC to entities other than the Federal Reserve Bank of New York, including liabilities that have recourse only to the portfolio holdings of this LLC. Refer to table 5 and the note on consolidation accompanying table 7. Also includes the liability for interest on Federal Reserve notes due to U.S. Treasury. 7. Statement of Condition of Each Federal Reserve Bank, October 8, 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 1,917 32 93 123 120 317 222 276 20 46 150 182 334 Securities, unamortized premiums and discounts, repurchase agreements, and loans 4,381,352 88,623 2,688,993 104,959 95,655 244,864 242,216 179,077 54,066 26,962 57,725 133,501 464,711 Securities held outright (1) 4,190,889 84,774 2,572,215 100,401 91,502 234,232 231,670 171,287 51,692 25,683 55,204 127,698 444,532 U.S. Treasury securities 2,454,457 49,649 1,506,457 58,801 53,589 137,181 135,681 100,317 30,274 15,042 32,331 74,788 260,347 Bills (2) 0 0 0 0 0 0 0 0 0 0 0 0 0 Notes and bonds (3) 2,454,457 49,649 1,506,457 58,801 53,589 137,181 135,681 100,317 30,274 15,042 32,331 74,788 260,347 Federal agency debt securities (2) 40,006 809 24,554 958 873 2,236 2,212 1,635 493 245 527 1,219 4,243 Mortgage-backed securities (4) 1,696,426 34,316 1,041,204 40,641 37,039 94,814 93,777 69,335 20,924 10,396 22,346 51,691 179,942 Unamortized premiums on securities held outright (5) 208,999 4,228 128,276 5,007 4,563 11,681 11,553 8,542 2,578 1,281 2,753 6,368 22,169 Unamortized discounts on securities held outright (5) -18,757 -379 -11,513 -449 -410 -1,048 -1,037 -767 -231 -115 -247 -572 -1,990 Repurchase agreements (6) 0 0 0 0 0 0 0 0 0 0 0 0 0 Loans 221 0 15 0 0 0 29 14 28 113 15 7 0 Net portfolio holdings of Maiden Lane LLC (7) 1,671 0 1,671 0 0 0 0 0 0 0 0 0 0 Net portfolio holdings of Maiden Lane II LLC (8) 0 0 0 0 0 0 0 0 0 0 0 0 0 Net portfolio holdings of Maiden Lane III LLC (8) 0 0 0 0 0 0 0 0 0 0 0 0 0 Net portfolio holdings of TALF LLC (9) 24 0 24 0 0 0 0 0 0 0 0 0 0 Items in process of collection 78 0 0 0 0 0 77 0 0 0 0 0 0 Bank premises 2,258 122 435 74 110 221 210 199 123 97 243 224 200 Central bank liquidity swaps (10) 0 0 0 0 0 0 0 0 0 0 0 0 0 Foreign currency denominated assets (11) 22,428 1,020 7,215 1,686 1,783 4,676 1,289 619 188 95 236 375 3,245 Other assets (12) 29,440 629 17,808 704 646 1,798 1,626 1,198 422 213 409 930 3,057 Interdistrict settlement account 0 + 21,034 - 50,155 - 2,639 + 8,864 - 10,926 + 9,326 - 9,300 - 9,746 - 1,819 - 2,000 + 3,433 + 43,928 Total assets 4,455,403 112,008 2,672,027 105,455 107,879 242,187 256,969 173,199 45,501 25,857 57,206 139,807 517,307 Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table. 7. Statement of Condition of Each Federal Reserve Bank, October 8, 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 1,447,121 44,438 484,521 43,814 66,076 102,954 213,801 96,418 38,609 21,080 36,505 116,624 182,281 Less: Notes held by F.R. Banks 197,477 5,404 68,000 6,122 9,054 11,555 21,741 11,040 4,811 3,872 5,268 22,480 28,131 Federal Reserve notes, net 1,249,645 39,034 416,521 37,692 57,022 91,399 192,060 85,379 33,798 17,208 31,237 94,144 154,150 Reverse repurchase agreements (13) 277,866 5,621 170,544 6,657 6,067 15,530 15,360 11,357 3,427 1,703 3,660 8,467 29,473 Deposits 2,863,865 64,594 2,062,644 57,729 40,097 122,470 45,247 74,583 7,616 6,498 21,570 35,982 324,835 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 2,765,616 64,591 1,964,724 57,694 40,093 122,213 45,238 74,576 7,616 6,498 21,569 35,978 324,827 U.S. Treasury, General Account 85,309 0 85,309 0 0 0 0 0 0 0 0 0 0 Foreign official 5,243 2 5,216 3 3 8 2 1 0 0 0 1 6 Other (14) 7,697 1 7,396 32 0 248 7 6 0 0 1 4 3 Deferred availability cash items 692 0 0 0 0 0 605 0 0 88 0 0 0 Interest on Federal Reserve notes due to U.S. Treasury (15) 1,540 28 1,303 43 41 -373 106 80 17 9 18 54 212 Other liabilities and accrued dividends (16) 5,398 168 2,629 202 211 555 359 271 139 117 122 195 430 Total liabilities 4,399,005 109,445 2,653,641 102,322 103,437 229,581 253,738 171,669 44,998 25,622 56,609 138,841 509,101 Capital Capital paid in 28,199 1,282 9,193 1,567 2,221 6,303 1,616 765 252 117 299 483 4,103 Surplus 28,199 1,282 9,193 1,567 2,221 6,303 1,616 765 252 117 299 483 4,103 Other capital 0 0 0 0 0 0 0 0 0 0 0 0 0 Total liabilities and capital 4,455,403 112,008 2,672,027 105,455 107,879 242,187 256,969 173,199 45,501 25,857 57,206 139,807 517,307 Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table. 7. Statement of Condition of Each Federal Reserve Bank, October 8, 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. 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. Refer to the note on consolidation below. 9. Refer to table 5 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. Revalued daily at current foreign currency exchange rates. 12. Includes accrued interest, which represents the daily accumulation of interest earned, and other accounts receivable. 13. Cash value of agreements, which are collateralized by U.S. Treasury securities, federal agency debt securities, and mortgage-backed securities. 14. Includes deposits held at the Reserve Banks by international and multilateral organizations, government-sponsored enterprises, and designated financial market utilities. 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 TALF LLC to entities other than the Federal Reserve Bank of New York, including liabilities that have recourse only to the portfolio holdings of this LLC. Refer to table 5 and the note on consolidation below. Note on consolidation: The Federal Reserve Bank of New York (FRBNY) 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 June 14, 2012, the remaining outstanding balance of the senior loan from FRBNY to Maiden Lane LLC was repaid in full, with interest. On November 15, 2012, the remaining outstanding balance of the subordinated loan from JPMorgan Chase & Co. to Maiden Lane LLC was repaid in full, with interest. 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. had written credit default swap contracts. On June 14, 2012, the loan from FRBNY to Maiden Lane III was repaid in full, with interest. 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 March 1, 2012, the loan from FRBNY to Maiden Lane II was repaid in full, with interest. 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. On January 15, 2013 the FRBNY's commitment to extend credit to TALF LLC was eliminated. 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 6), 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 6). 8. Collateral Held against Federal Reserve Notes: Federal Reserve Agents' Accounts Millions of dollars Federal Reserve notes and collateral Wednesday Oct 8, 2014 Federal Reserve notes outstanding 1,447,121 Less: Notes held by F.R. Banks not subject to collateralization 197,477 Federal Reserve notes to be collateralized 1,249,645 Collateral held against Federal Reserve notes 1,249,645 Gold certificate account 11,037 Special drawing rights certificate account 5,200 U.S. Treasury, agency debt, and mortgage-backed securities pledged (1,2) 1,233,408 Other assets pledged 0 Memo: Total U.S. Treasury, agency debt, and mortgage-backed securities (1,2) 4,190,889 Less: Face value of securities under reverse repurchase agreements 264,291 U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 3,926,598 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.