FRB: H.4.1 Release-- Factors Affecting Reserve Balances -- Thursday, October 30, 2014

FEDERAL RESERVE statistical release

For release at

4:30 P.M. EDT

October 30, 2014

The weekly average values, shown in table 1, reflect the September 30, 2014, quarterly updates to the fair values of the net portfolio holdings of Maiden Lane LLC and the fair value adjustment of the Term Asset-Backed Securities Loan Facility, or TALF, which is included in "Other Federal Reserve assets." The amounts for the first six days of this reporting week are based on the values as of June 30, 2014, and the amounts for the last day of the reporting week are based on the values as of September 30, 2014.

FEDERAL RESERVE statistical release

H.4.1

Factors Affecting Reserve Balances of Depository Institutions and Condition Statement of Federal Reserve Banks	October 30, 2014

1. Factors Affecting Reserve Balances of Depository Institutions

Millions of dollars

Reserve Bank credit, related items, and reserve balances of depository institutions at Federal Reserve Banks	Averages of daily figures			Wednesday Oct 29, 2014
	Week ended Oct 29, 2014	Change from week ended
	Week ended Oct 29, 2014	Oct 22, 2014	Oct 30, 2013
Reserve Bank credit	4,450,920	+ 14,234	+ 655,600	4,445,443
Securities held outright¹	4,223,920	+ 12,770	+ 657,529	4,219,168
U.S. Treasury securities	2,460,718	+ 3,659	+ 348,081	2,461,580
Bills²	0	0	0	0
Notes and bonds, nominal²	2,345,835	+ 3,703	+ 335,354	2,346,714
Notes and bonds, inflation-indexed²	98,469	0	+ 9,880	98,469
Inflation compensation³	16,414	- 43	+ 2,847	16,398
Federal agency debt securities²	39,700	0	- 19,380	39,700
Mortgage-backed securities⁴	1,723,502	+ 9,110	+ 328,828	1,717,888
Unamortized premiums on securities held outright⁵	209,411	+ 166	+ 3,972	209,140
Unamortized discounts on securities held outright⁵	-18,705	+ 2	- 10,348	-18,694
Repurchase agreements⁶	0	0	0	0
Loans	218	- 3	- 15	206
Primary credit	12	+ 7	- 5	28
Secondary credit	0	0	0	0
Seasonal credit	194	- 8	+ 78	178
Term Asset-Backed Securities Loan Facility⁷	12	- 2	- 88	0
Other credit extensions	0	0	0	0
Net portfolio holdings of Maiden Lane LLC⁸	1,672	- 1	+ 175	1,679
Net portfolio holdings of Maiden Lane II LLC⁹	0	0	- 64	0
Net portfolio holdings of Maiden Lane III LLC⁹	0	0	- 22	0
Net portfolio holdings of TALF LLC¹⁰	24	0	- 87	24
Float	-512	+ 106	+ 41	-547
Central bank liquidity swaps¹¹	0	0	- 272	0
Other Federal Reserve assets¹²	34,891	+ 1,194	+ 4,689	34,467
Foreign currency denominated assets¹³	22,481	- 157	- 2,016	22,542
Gold stock	11,041	0	0	11,041
Special drawing rights certificate account	5,200	0	0	5,200
Treasury currency outstanding¹⁴	46,216	+ 14	+ 815	46,216

Total factors supplying reserve funds	4,535,858	+ 14,091	+ 654,399	4,530,443

Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table.

1. Factors Affecting Reserve Balances of Depository Institutions (continued)

Millions of dollars

Reserve Bank credit, related items, and reserve balances of depository institutions at Federal Reserve Banks	Averages of daily figures			Wednesday Oct 29, 2014
	Week ended Oct 29, 2014	Change from week ended
	Week ended Oct 29, 2014	Oct 22, 2014	Oct 30, 2013
Currency in circulation¹⁴	1,297,194	+ 806	+ 79,945	1,299,173
Reverse repurchase agreements¹⁵	219,152	- 5,888	+ 107,636	236,689
Foreign official and international accounts	102,406	+ 3,008	- 5,642	101,999
Others	116,746	- 8,896	+ 113,278	134,690
Treasury cash holdings	198	+ 3	+ 2	203
Deposits with F.R. Banks, other than reserve balances	325,207	+ 78,016	+ 262,770	304,029
Term deposits held by depository institutions	171,861	+ 61,832	+ 171,861	171,860
U.S. Treasury, General Account	118,424	- 5,090	+ 86,618	118,660
Foreign official	5,264	+ 18	- 3,389	5,253
Other¹⁶	29,659	+ 21,257	+ 7,681	8,257
Other liabilities and capital¹⁷	64,298	- 42	- 846	63,075

Total factors, other than reserve balances, absorbing reserve funds	1,906,050	+ 72,895	+ 449,508	1,903,169

Reserve balances with Federal Reserve Banks	2,629,809	- 58,804	+ 204,892	2,627,273

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 Oct 29, 2014
	Week ended Oct 29, 2014	Change from week ended
	Week ended Oct 29, 2014	Oct 22, 2014	Oct 30, 2013
Securities held in custody for foreign official and international accounts	3,291,463	- 11,891	- 24,721	3,282,086
Marketable U.S. Treasury securities¹	2,963,544	- 9,236	+ 8,337	2,955,615
Federal agency debt and mortgage-backed securities²	286,078	- 2,759	- 34,328	284,695
Other securities³	41,841	+ 104	+ 1,270	41,776
Securities lent to dealers	10,103	- 3,002	- 6,751	9,651
Overnight facility⁴	10,103	- 3,002	- 6,751	9,651
U.S. Treasury securities	9,422	- 3,032	- 6,335	8,994
Federal agency debt securities	681	+ 30	- 416	657

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 29, 2014

Millions of dollars

Remaining Maturity	Within 15 days	16 days to 90 days	91 days to 1 year	Over 1 year to 5 years	Over 5 year to 10 years	Over 10 years	All
Loans	202	4	0	0	0	...	206
U.S. Treasury securities¹
Holdings	1	89	3,193	1,050,006	744,464	663,827	2,461,580
Weekly changes	0	0	0	- 6	+ 1,491	+ 899	+ 2,383
Federal agency debt securities²
Holdings	0	2,112	3,442	31,799	0	2,347	39,700
Weekly changes	0	0	0	0	0	0	0
Mortgage-backed securities³
Holdings	0	0	0	10	5,107	1,712,770	1,717,888
Weekly changes	0	0	0	0	- 86	+ 2,528	+ 2,443
Asset-backed securities held by TALF LLC⁴	0	0	0	0	0	0	0
Repurchase agreements⁵	0	0	...	...	...	...	0
Central bank liquidity swaps⁶	0	0	0	0	0	0	0

Reverse repurchase agreements⁵	236,689	0	...	...	...	...	236,689
Term deposits	171,860	0	0	...	...	...	171,860

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
Account name	Oct 29, 2014
Mortgage-backed securities held outright¹	1,717,888

Commitments to buy mortgage-backed securities²	46,479
Commitments to sell mortgage-backed securities²	0

Cash and cash equivalents³	10

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
Account name	Oct 29, 2014
Net portfolio holdings of Maiden Lane LLC¹	1,679

Outstanding principal amount of loan extended by the Federal Reserve Bank of New York²	0
Accrued interest payable to the Federal Reserve Bank of New York²	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 September 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
Account name	Oct 29, 2014
Asset-backed securities holdings¹	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 York²	0
Accrued interest payable to the Federal Reserve Bank of New York²	0
Funding provided by U.S. Treasury to TALF LLC, including accrued interest payable³	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 from consolidation	Wednesday Oct 29, 2014	Change since
			Wednesday	Wednesday
			Oct 22, 2014	Oct 30, 2013
Assets
Gold certificate account		11,037	0	0
Special drawing rights certificate account		5,200	0	0
Coin		1,914	+ 23	- 59
Securities, unamortized premiums and discounts, repurchase agreements, and loans		4,409,820	+ 4,793	+ 642,021
Securities held outright¹		4,219,168	+ 4,826	+ 648,650
U.S. Treasury securities		2,461,580	+ 2,383	+ 343,830
Bills²		0	0	0
Notes and bonds, nominal²		2,346,714	+ 2,427	+ 331,130
Notes and bonds, inflation-indexed²		98,469	0	+ 9,880
Inflation compensation³		16,398	- 43	+ 2,821
Federal agency debt securities²		39,700	0	- 19,380
Mortgage-backed securities⁴		1,717,888	+ 2,443	+ 324,201
Unamortized premiums on securities held outright⁵		209,140	- 32	+ 3,656
Unamortized discounts on securities held outright⁵		-18,694	+ 32	- 10,279
Repurchase agreements⁶		0	0	0
Loans		206	- 34	- 6
Net portfolio holdings of Maiden Lane LLC⁷		1,679	+ 8	+ 164
Net portfolio holdings of Maiden Lane II LLC⁸		0	0	- 64
Net portfolio holdings of Maiden Lane III LLC⁸		0	0	- 22
Net portfolio holdings of TALF LLC⁹		24	0	- 87
Items in process of collection	(0)	71	0	- 30
Bank premises		2,268	+ 5	- 30
Central bank liquidity swaps¹⁰		0	0	- 272
Foreign currency denominated assets¹¹		22,542	+ 52	- 1,890
Other assets¹²		32,199	+ 257	+ 3,625

Total assets	(0)	4,486,754	+ 5,138	+ 643,358

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 from consolidation	Wednesday Oct 29, 2014	Change since
			Wednesday	Wednesday
			Oct 22, 2014	Oct 30, 2013
Liabilities
Federal Reserve notes, net of F.R. Bank holdings		1,255,070	+ 2,149	+ 79,520
Reverse repurchase agreements¹³		236,689	+ 773	+ 122,399
Deposits	(0)	2,931,303	+ 2,365	+ 442,387
Term deposits held by depository institutions		171,860	+ 61,831	+ 171,860
Other deposits held by depository institutions		2,627,273	- 52,333	+ 192,327
U.S. Treasury, General Account		118,660	- 5,936	+ 87,935
Foreign official		5,253	+ 5	- 3,400
Other¹⁴	(0)	8,257	- 1,201	- 6,335
Deferred availability cash items	(0)	618	- 1	- 87
Other liabilities and accrued dividends¹⁵		6,618	- 148	- 2,462

Total liabilities	(0)	4,430,297	+ 5,138	+ 641,755

Capital accounts
Capital paid in		28,228	0	+ 801
Surplus		28,228	0	+ 801
Other capital accounts		0	0	0

Total capital		56,457	0	+ 1,602

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 29, 2014

Millions of dollars

Assets, liabilities, and capital	Total	Boston	New York	Philadelphia	Cleveland	Richmond	Atlanta	Chicago	St. Louis	Minneapolis	Kansas	Dallas	San
Assets, liabilities, and capital	Total	Boston	New York	Philadelphia	Cleveland	Richmond	Atlanta	Chicago	St. Louis	Minneapolis	City	Dallas	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	1,914	30	90	124	117	312	217	271	19	45	150	179	360
Securities, unamortized premiums and discounts, repurchase agreements, and loans	4,409,820	89,199	2,706,461	105,641	96,277	246,457	243,792	180,234	54,402	27,133	58,105	134,371	467,747
Securities held outright¹	4,219,168	85,346	2,589,571	101,078	92,119	235,812	233,233	172,443	52,041	25,857	55,576	128,559	447,531
U.S. Treasury securities	2,461,580	49,793	1,510,828	58,972	53,745	137,579	136,075	100,608	30,362	15,085	32,425	75,005	261,102
Bills²	0	0	0	0	0	0	0	0	0	0	0	0	0
Notes and bonds³	2,461,580	49,793	1,510,828	58,972	53,745	137,579	136,075	100,608	30,362	15,085	32,425	75,005	261,102
Federal agency debt securities²	39,700	803	24,366	951	867	2,219	2,195	1,623	490	243	523	1,210	4,211
Mortgage-backed securities⁴	1,717,888	34,750	1,054,377	41,155	37,507	96,014	94,964	70,212	21,189	10,528	22,629	52,344	182,218
Unamortized premiums on securities held outright⁵	209,140	4,231	128,363	5,010	4,566	11,689	11,561	8,548	2,580	1,282	2,755	6,373	22,184
Unamortized discounts on securities held outright⁵	-18,694	-378	-11,473	-448	-408	-1,045	-1,033	-764	-231	-115	-246	-570	-1,983
Repurchase agreements⁶	0	0	0	0	0	0	0	0	0	0	0	0	0
Loans	206	0	0	0	0	1	32	7	13	110	20	9	15
Net portfolio holdings of Maiden
Lane LLC⁷	1,679	0	1,679	0	0	0	0	0	0	0	0	0	0
Net portfolio holdings of Maiden
Lane II LLC⁸	0	0	0	0	0	0	0	0	0	0	0	0	0
Net portfolio holdings of Maiden
Lane III LLC⁸	0	0	0	0	0	0	0	0	0	0	0	0	0
Net portfolio holdings of TALF LLC⁹	24	0	24	0	0	0	0	0	0	0	0	0	0
Items in process of collection	71	0	0	0	0	0	71	0	0	0	0	0	0
Bank premises	2,268	122	442	74	111	221	211	200	123	97	243	224	200
Central bank liquidity swaps¹⁰	0	0	0	0	0	0	0	0	0	0	0	0	0
Foreign currency denominated
assets¹¹	22,542	1,025	7,251	1,695	1,792	4,700	1,296	622	189	95	237	377	3,262
Other assets¹²	32,199	687	19,458	771	704	1,941	1,773	1,299	457	228	447	1,097	3,337
Interdistrict settlement account	0	+ 25,199	- 18,517	- 3,165	+ 7,438	- 15,486	- 1,293	- 12,953	- 9,375	- 471	- 3,346	+ 3,450	+ 28,518

Total assets	4,486,754	116,811	2,722,831	105,688	107,140	239,381	248,071	170,803	46,244	27,390	56,280	140,860	505,256

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 29, 2014 (continued)

Millions of dollars

Assets, liabilities, and capital	Total	Boston	New York	Philadelphia	Cleveland	Richmond	Atlanta	Chicago	St. Louis	Minneapolis	Kansas	Dallas	San
Assets, liabilities, and capital	Total	Boston	New York	Philadelphia	Cleveland	Richmond	Atlanta	Chicago	St. Louis	Minneapolis	City	Dallas	Francisco
Liabilities
Federal Reserve notes outstanding	1,450,759	44,339	480,420	44,684	67,070	102,299	214,050	98,924	39,521	21,391	36,526	117,659	183,876
Less: Notes held by F.R. Banks	195,689	5,316	67,220	5,957	8,750	11,516	22,425	10,941	4,795	3,835	5,324	20,925	28,684
Federal Reserve notes, net	1,255,070	39,023	413,200	38,726	58,320	90,783	191,624	87,983	34,727	17,555	31,202	96,733	155,192
Reverse repurchase agreements¹³	236,689	4,788	145,271	5,670	5,168	13,229	13,084	9,674	2,919	1,451	3,118	7,212	25,106
Deposits	2,931,303	70,216	2,142,844	57,897	38,944	122,233	39,112	71,263	7,935	7,899	21,215	35,688	316,059
Term deposits held by depository institutions	171,860	30	125,620	19,310	2,260	23	555	7,195	15	94	3,553	2,105	11,100
Other deposits held by depository institutions	2,627,273	70,179	1,885,357	38,556	36,681	121,982	38,548	64,059	7,919	7,804	17,661	33,578	304,950
U.S. Treasury, General Account	118,660	0	118,660	0	0	0	0	0	0	0	0	0	0
Foreign official	5,253	2	5,225	3	3	8	2	1	0	0	0	1	6
Other¹⁴	8,257	5	7,982	28	0	220	7	8	0	0	1	4	3
Deferred availability cash items	618	0	0	0	0	0	501	0	0	116	0	0	0
Interest on Federal Reserve notes due to U.S. Treasury¹⁵	1,648	34	1,155	45	43	-92	103	69	15	8	18	55	195
Other liabilities and accrued dividends¹⁶	4,970	186	1,975	216	224	624	391	286	142	121	128	204	473

Total liabilities	4,430,297	114,247	2,704,445	102,554	102,698	226,776	244,816	169,275	45,738	27,149	55,682	139,891	497,024

Capital
Capital paid in	28,228	1,282	9,193	1,567	2,221	6,302	1,627	764	253	120	299	484	4,116
Surplus	28,228	1,282	9,193	1,567	2,221	6,302	1,627	764	253	120	299	484	4,116
Other capital	0	0	0	0	0	0	0	0	0	0	0	0	0

Total liabilities and capital	4,486,754	116,811	2,722,831	105,688	107,140	239,381	248,071	170,803	46,244	27,390	56,280	140,860	505,256

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 29, 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
Federal Reserve notes and collateral	Oct 29, 2014
Federal Reserve notes outstanding	1,450,759
Less: Notes held by F.R. Banks not subject to collateralization	195,689
Federal Reserve notes to be collateralized	1,255,070
Collateral held against Federal Reserve notes	1,255,070
Gold certificate account	11,037
Special drawing rights certificate account	5,200
U.S. Treasury, agency debt, and mortgage-backed securities pledged^1,2	1,238,833
Other assets pledged	0
Memo:
Total U.S. Treasury, agency debt, and mortgage-backed securities^1,2	4,219,168
Less: Face value of securities under reverse repurchase agreements	229,617
U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged	3,989,551

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.

Statistical releases