Federal Reserve Statistical Release, H.4.1, Factors Affecting Reserve Balances; title with eagle logo links to Statistical Release home page
Release Date: December 29, 2014
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FEDERAL RESERVE statistical release

H.4.1

Factors Affecting Reserve Balances of Depository Institutions and     
Condition Statement of Federal Reserve Banks                                                December 29, 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  Dec 24, 2014 
Federal Reserve Banks                                     Dec 24, 2014 Dec 17, 2014 Dec 25, 2013              

Reserve Bank credit                                         4,471,568   +    7,707   +  485,979    4,469,654  
  Securities held outright (1)                              4,249,952   +    6,149   +  490,697    4,247,474  
    U.S. Treasury securities                                2,461,452   -       67   +  256,522    2,461,420  
      Bills (2)                                                     0            0            0            0  
      Notes and bonds, nominal (2)                          2,346,712   -        1   +  246,760    2,346,712  
      Notes and bonds, inflation-indexed (2)                   98,469            0   +    7,090       98,469  
      Inflation compensation (3)                               16,271   -       66   +    2,672       16,239  
    Federal agency debt securities (2)                         38,677            0   -   18,544       38,677  
    Mortgage-backed securities (4)                          1,749,822   +    6,215   +  252,717    1,747,377  
  Unamortized premiums on securities held outright (5)        207,761   -       44   -    1,447      207,466  
  Unamortized discounts on securities held outright (5)       -18,441   +       36   -    6,329      -18,425  
  Repurchase agreements (6)                                         0            0            0            0  
  Loans                                                           112   +       17   -       81          119  
    Primary credit                                                 32   +       24   +        5           32  
    Secondary credit                                                0            0            0            0  
    Seasonal credit                                                80   -        8   +       11           87  
    Term Asset-Backed Securities Loan Facility (7)                  0            0   -       97            0  
    Other credit extensions                                         0            0            0            0  
  Net portfolio holdings of Maiden Lane LLC (8)                 1,678   -        3   +      153        1,678  
  Net portfolio holdings of Maiden Lane II LLC (9)                  0            0   -       63            0  
  Net portfolio holdings of Maiden Lane III LLC (9)                 0            0   -       22            0  
  Net portfolio holdings of TALF LLC (10)                           0            0   -      109            0  
  Float                                                          -473   +       61   +      154         -533  
  Central bank liquidity swaps (11)                                30   +       28   -      243           30  
  Other Federal Reserve assets (12)                            30,950   +    1,465   +    3,271       31,845  
Foreign currency denominated assets (13)                       21,131   -      361   -    2,666       21,041  
Gold stock                                                     11,041            0            0       11,041  
Special drawing rights certificate account                      5,200            0            0        5,200  
Treasury currency outstanding (14)                             46,339   +       14   +      849       46,339  
                                                                                                              
Total factors supplying reserve funds                       4,555,279   +    7,360   +  484,161    4,553,276  

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  Dec 24, 2014 
Federal Reserve Banks                                     Dec 24, 2014 Dec 17, 2014 Dec 25, 2013              

Currency in circulation (14)                                 1,332,901   +   10,099   +   97,043    1,338,522 
Reverse repurchase agreements (15)                             280,447   +   45,153   +  146,107      298,833 
  Foreign official and international accounts                   98,274   +    1,007   -    6,321       96,096 
  Others                                                       182,173   +   44,146   +  152,428      202,737 
Treasury cash holdings                                             191   +        4   -       39          197 
Deposits with F.R. Banks, other than reserve balances          195,545   +   58,131   +   33,066      242,812 
  Term deposits held by depository institutions                      0            0            0            0 
  U.S. Treasury, General Account                               175,093   +   60,317   +   75,971      177,911 
  Foreign official                                               5,213   +        6   -    2,776        5,209 
  Other (16)                                                    15,239   -    2,192   -   40,129       59,692 
Other liabilities and capital (17)                              64,393   -      922   +      337       63,277 
                                                                                                              
Total factors, other than reserve balances,               
    absorbing reserve funds                                  1,873,478   +  112,466   +  276,515    1,943,641 
                                                                                                              
Reserve balances with Federal Reserve Banks                  2,681,801   -  105,106   +  207,646    2,609,634 

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 6.                                    
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 6.                                                         
10. Refer to the note on consolidation accompanying table 6.                                                
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 liability for interest on Federal Reserve notes due to U.S. Treasury.                      
                                                                                                            


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  Dec 24, 2014 
                                                          Dec 24, 2014 Dec 17, 2014 Dec 25, 2013              

Securities held in custody for foreign official and       
     international accounts                                  3,308,131   -   20,027   -   66,114    3,298,867 
  Marketable U.S. Treasury securities (1)                    2,972,932   -   13,728   -   44,992    2,965,047 
  Federal agency debt and mortgage-backed securities (2)       293,388   -    6,235   -   19,534      292,021 
  Other securities (3)                                          41,811   -       64   -    1,588       41,799 
Securities lent to dealers                                      12,376   +    1,038   -      721       12,315 
  Overnight facility (4)                                        12,376   +    1,038   -      721       12,315 
    U.S. Treasury securities                                    11,718   +    1,029   -      343       11,639 
    Federal agency debt securities                                 658   +        9   -      379          676 

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, 5, and 6.     
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, December 24, 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                                          119             0             0             0             0           ...           119 
U.S. Treasury securities (1)                                                                                                           
  Holdings                                       1             4         3,516     1,105,853       693,716       658,330     2,461,420 
  Weekly changes                                 0             0             0    -       10    -       10    -       55    -       75 
Federal agency debt securities (2)                                                                                                     
  Holdings                                       0         1,800         3,933        30,597             0         2,347        38,677 
  Weekly changes                                 0             0             0             0             0             0             0 
Mortgage-backed securities (3)                                                                                                         
  Holdings                                       0             0             0            13         6,563     1,740,801     1,747,377 
  Weekly changes                                 0             0             0             0             0    +    5,419    +    5,420 
Repurchase agreements (4)                        0             0           ...           ...           ...           ...             0 
Central bank liquidity swaps (5)                30             0             0             0             0             0            30 
                                                                                                                                       
Reverse repurchase agreements (4)          298,833             0           ...           ...           ...           ...       298,833 
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.  Cash value of agreements.                                                                               
5.  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   
                                                                                                                      Dec 24, 2014  

Mortgage-backed securities held outright (1)                                                                             1,747,377  
                                                                                                                                    
Commitments to buy mortgage-backed securities (2)                                                                           27,500  
Commitments to sell mortgage-backed securities (2)                                                                               0  
                                                                                                                                    
Cash and cash equivalents (3)                                                                                                   46  



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 5       
    and table 6.                                                                                        




4. Information on Principal Accounts of Maiden Lane LLC
Millions of dollars
Account name                                                                                                            Wednesday   
                                                                                                                      Dec 24, 2014  

Net portfolio holdings of Maiden Lane LLC (1)                                                                                1,678  
                                                                                                                                    
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 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 6.                                                  
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 5 and table 6.                      


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. Consolidated Statement of Condition of All Federal Reserve Banks
Millions of dollars
Assets, liabilities, and capital                         Eliminations     Wednesday         Change since       
                                                             from       Dec 24, 2014   Wednesday    Wednesday  
                                                        consolidation                Dec 17, 2014 Dec 25, 2013 

Assets                                                                                                         
  Gold certificate account                                                   11,037            0            0  
  Special drawing rights certificate account                                  5,200            0            0  
  Coin                                                                        1,871   -        5   -       92  
  Securities, unamortized premiums and discounts,     
     repurchase agreements, and loans                                     4,436,634   +    5,245   +  476,720  
    Securities held outright (1)                                          4,247,474   +    5,345   +  484,481  
      U.S. Treasury securities                                            2,461,420   -       75   +  252,591  
        Bills (2)                                                                 0            0            0  
        Notes and bonds, nominal (2)                                      2,346,712            0   +  242,840  
        Notes and bonds, inflation-indexed (2)                               98,469            0   +    7,090  
        Inflation compensation (3)                                           16,239   -       75   +    2,661  
      Federal agency debt securities (2)                                     38,677            0   -   18,544  
      Mortgage-backed securities (4)                                      1,747,377   +    5,420   +  250,434  
    Unamortized premiums on securities held outright  
    (5)                                                                     207,466   -      166   -    1,636  
    Unamortized discounts on securities held outright 
    (5)                                                                     -18,425   +       38   -    6,053  
    Repurchase agreements (6)                                                     0            0            0  
    Loans                                                                       119   +       29   -       73  
  Net portfolio holdings of Maiden Lane LLC (7)                               1,678            0   +      137  
  Net portfolio holdings of Maiden Lane II LLC (8)                                0            0   -       63  
  Net portfolio holdings of Maiden Lane III LLC (8)                               0            0   -       22  
  Net portfolio holdings of TALF LLC (9)                                          0            0   -      109  
  Items in process of collection                                   (0)          126   +       25   -       35  
  Bank premises                                                               2,265   +        1   -       25  
  Central bank liquidity swaps (10)                                              30   +       28   -      243  
  Foreign currency denominated assets (11)                                   21,041   -      422   -    2,745  
  Other assets (12)                                                          29,580   +    2,343   +    3,364  
                                                                                                               
Total assets                                                       (0)    4,509,462   +    7,215   +  476,887  

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





5. Consolidated Statement of Condition of All Federal Reserve Banks (continued)
Millions of dollars
Assets, liabilities, and capital                         Eliminations     Wednesday         Change since       
                                                             from       Dec 24, 2014   Wednesday    Wednesday  
                                                        consolidation                Dec 17, 2014 Dec 25, 2013 

Liabilities                                                                                                    
  Federal Reserve notes, net of F.R. Bank holdings                         1,294,247   +   11,685   +   99,046 
  Reverse repurchase agreements (13)                                         298,833   +   68,817   +  147,576 
  Deposits                                                          (0)    2,852,447   -   73,029   +  232,110 
    Term deposits held by depository institutions                                  0            0            0 
    Other deposits held by depository institutions                         2,609,635   -  129,475   +  158,902 
    U.S. Treasury, General Account                                           177,911   +    6,597   +   84,018 
    Foreign official                                                           5,209   +        3   -    2,771 
    Other (14)                                                      (0)       59,692   +   49,846   -    8,039 
  Deferred availability cash items                                  (0)          658   +       23   -      556 
  Other liabilities and accrued dividends (15)                                 6,142   -      301   -    3,407 
                                                                                                               
Total liabilities                                                   (0)    4,452,327   +    7,196   +  474,770 
                                                                                                               
Capital accounts                                                                                               
  Capital paid in                                                             28,568   +       10   +    1,059 
  Surplus                                                                     28,568   +       10   +    1,059 
  Other capital accounts                                                           0            0            0 
                                                                                                               
Total capital                                                                 57,135   +       19   +    2,117 

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 6.                                    
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 6.                                                         
9.  Refer to the note on consolidation accompanying table 6.                                                
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 liability for interest on Federal Reserve notes due to U.S. Treasury.                      

 



6. Statement of Condition of Each Federal Reserve Bank, December 24, 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                                             1,871          30          77          122         119         308         208         279          22          44         152         187         323
  Securities, unamortized premiums and      
     discounts, repurchase agreements,      
     and loans                                 4,436,634      89,744   2,722,973      106,285      96,865     247,960     245,260     181,337      54,725      27,233      58,481     135,186     470,586
    Securities held outright (1)               4,247,474      85,919   2,606,945      101,757      92,737     237,394     234,798     173,600      52,390      26,030      55,949     129,422     450,534
      U.S. Treasury securities                 2,461,420      49,790   1,510,730       58,968      53,741     137,570     136,066     100,602      30,360      15,084      32,423      75,000     261,085
        Bills (2)                                      0           0           0            0           0           0           0           0           0           0           0           0           0
        Notes and bonds (3)                    2,461,420      49,790   1,510,730       58,968      53,741     137,570     136,066     100,602      30,360      15,084      32,423      75,000     261,085
      Federal agency debt securities (2)          38,677         782      23,739          927         844       2,162       2,138       1,581         477         237         509       1,178       4,103
      Mortgage-backed securities (4)           1,747,377      35,346   1,072,476       41,862      38,151      97,662      96,594      71,418      21,553      10,709      23,017      53,243     185,346
    Unamortized premiums on securities held 
      outright (5)                               207,466       4,197     127,335        4,970       4,530      11,595      11,469       8,479       2,559       1,271       2,733       6,322      22,006
    Unamortized discounts on securities     
      held outright (5)                          -18,425        -373     -11,309         -441        -402      -1,030      -1,019        -753        -227        -113        -243        -561      -1,954
    Repurchase agreements (6)                          0           0           0            0           0           0           0           0           0           0           0           0           0
    Loans                                            119           1           2            0           0           0          12          10           4          44          41           4           0
  Net portfolio holdings of Maiden                                                                                                                                                                       
     Lane LLC (7)                                  1,678           0       1,678            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)               0           0           0            0           0           0           0           0           0           0           0           0           0
  Items in process of collection                     126           0           0            0           0           0          95           0           0          30           0           0           0
  Bank premises                                    2,265         124         438           75         110         219         213         200         122          96         242         224         201
  Central bank liquidity swaps (10)                   30           1          10            2           2           6           2           1           0           0           0           1           4
  Foreign currency denominated                                                                                                                                                                           
     assets (11)                                  21,041         957       6,769        1,582       1,673       4,387       1,210         581         177          89         221         352       3,044
  Other assets (12)                               29,580         627      17,778          827         642       1,776       1,617       1,189         411         208         410       1,043       3,053
  Interdistrict settlement account                     0  +   25,990  -   84,803   -    9,924  +   26,967  -    9,074  -      280  -    6,289  -    6,641  +    2,641  +      189  +   14,598  +   46,626
                                                                                                                                                                                                         
Total assets                                   4,509,462     118,021   2,670,863       99,517     127,080     246,818     250,327     178,427      49,245      30,605      60,138     152,752     525,668

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





6. Statement of Condition of Each Federal Reserve Bank, December 24, 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            1,471,865      46,052     476,358      46,632      68,887     103,615     214,356     101,678      41,553      23,257      38,415     120,194     190,867
    Less: Notes held by F.R. Banks               177,618       4,926      59,902       5,231       8,228      11,454      22,720      10,785       4,792       3,191       4,666      15,485      26,238
      Federal Reserve notes, net               1,294,247      41,126     416,456      41,401      60,658      92,162     191,637      90,893      36,762      20,065      33,750     104,709     164,629
  Reverse repurchase agreements (13)             298,833       6,045     183,413       7,159       6,525      16,702      16,519      12,214       3,686       1,831       3,936       9,106      31,698
  Deposits                                     2,852,447      68,063   2,049,883      47,529      55,199     124,154      37,892      73,447       8,109       8,253      21,709      37,873     320,337
    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                           2,609,635      68,059   1,807,258      47,500      55,196     124,036      37,883      73,434       8,108       8,253      21,707      37,871     320,329
    U.S. Treasury, General Account               177,911           0     177,911           0           0           0           0           0           0           0           0           0           0
    Foreign official                               5,209           2       5,182           3           3           8           2           1           0           0           0           1           6
    Other (14)                                    59,692           2      59,532          26           0         109           6          12           0           0           1           2           2
  Deferred availability cash items                   658           0           0           0           0           0         574           0           0          84           0           0           0
  Interest on Federal Reserve notes due     
     to U.S. Treasury (15)                         1,853          19       1,266          18          15          39         111          75          28          12          35          65         170
  Other liabilities and accrued             
     dividends (16)                                4,289         180       1,430         217         227         648         342         267         129         119         108         179         444
                                                                                                                                                                                                        
Total liabilities                              4,452,327     115,433   2,652,447      96,324     122,625     233,704     247,075     176,896      48,713      30,365      59,537     151,932     517,276
                                                                                                                                                                                                        
Capital                                                                                                                                                                                                 
  Capital paid in                                 28,568       1,294       9,208       1,597       2,228       6,557       1,626         766         266         120         301         410       4,196
  Surplus                                         28,568       1,294       9,208       1,597       2,228       6,557       1,626         766         266         120         301         410       4,196
  Other capital                                        0           0           0           0           0           0           0           0           0           0           0           0           0
                                                                                                                                                                                                        
Total liabilities and capital                  4,509,462     118,021   2,670,863      99,517     127,080     246,818     250,327     178,427      49,245      30,605      60,138     152,752     525,668

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





6. Statement of Condition of Each Federal Reserve Bank, December 24, 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 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.                                                                                                                                                   
                                                                                                                                                                                                            


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 was the primary beneficiary of TALF LLC, because of the two beneficiaries of the LLC, the FRBNY and the U.S. Treasury, the FRBNY was primarily responsible for directing the
financial activities of TALF LLC. The FRBNY was the primary beneficiary of the other LLCs cited above because it received a majority of any residual returns of the LLCs and absorbed a majority of any
residual losses of the LLCs. Consistent with generally accepted accounting principles, the assets and liabilities of these LLCs were 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 were eliminated, the net
assets of the LLCs appeared as assets on the previous page (and in table 1 and table 5), and the liabilities of the LLCs to entities other than the FRBNY, including those with recourse only to
the portfolio holdings of the LLCs, were included in other liabilities in this table (and table 1 and table 5).

                                                                           



7. Collateral Held against Federal Reserve Notes: Federal Reserve Agents' Accounts
Millions of dollars
Federal Reserve notes and collateral                                                        Wednesday   
                                                                                          Dec 24, 2014  

Federal Reserve notes outstanding                                                            1,471,865  
  Less: Notes held by F.R. Banks not subject to collateralization                              177,618  
    Federal Reserve notes to be collateralized                                               1,294,247  
Collateral held against Federal Reserve notes                                                1,294,247  
  Gold certificate account                                                                      11,037  
  Special drawing rights certificate account                                                     5,200  
  U.S. Treasury, agency debt, and mortgage-backed securities pledged (1,2)                   1,278,010  
  Other assets pledged                                                                               0  
Memo:                                                                                                   
Total U.S. Treasury, agency debt, and mortgage-backed securities (1,2)                       4,247,474  
  Less: Face value of securities under reverse repurchase agreements                           277,086  
    U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged        3,970,388  

Note: Components may not sum to totals because of rounding.


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




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