FRB: H.4.1 Release-- Factors Affecting Reserve Balances -- Thursday, April 30, 2015

FEDERAL RESERVE statistical release

H.4.1

Factors Affecting Reserve Balances of Depository Institutions and Condition Statement of Federal Reserve Banks	April 30, 2015

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 Apr 29, 2015
	Week ended Apr 29, 2015	Change from week ended
	Week ended Apr 29, 2015	Apr 22, 2015	Apr 30, 2014
Reserve Bank credit	4,444,217	- 3,154	+ 193,695	4,432,854
Securities held outright¹	4,225,247	- 3,791	+ 201,361	4,214,779
U.S. Treasury securities	2,459,992	+ 114	+ 113,984	2,460,034
Bills²	0	0	0	0
Notes and bonds, nominal²	2,346,709	0	+ 110,549	2,346,709
Notes and bonds, inflation-indexed²	98,468	0	+ 3,079	98,468
Inflation compensation³	14,816	+ 115	+ 357	14,858
Federal agency debt securities²	35,895	0	- 9,070	35,895
Mortgage-backed securities⁴	1,729,360	- 3,905	+ 96,448	1,718,850
Unamortized premiums on securities held outright⁵	201,312	- 494	- 8,544	200,860
Unamortized discounts on securities held outright⁵	-17,827	+ 35	- 176	-17,811
Repurchase agreements⁶	0	0	0	0
Loans	67	+ 21	- 94	61
Primary credit	33	+ 20	- 26	19
Secondary credit	0	0	0	0
Seasonal credit	35	+ 2	+ 14	42
Term Asset-Backed Securities Loan Facility⁷	0	0	- 81	0
Other credit extensions	0	0	0	0
Net portfolio holdings of Maiden Lane LLC⁸	1,693	- 1	+ 98	1,689
Net portfolio holdings of Maiden Lane II LLC⁹	0	0	- 63	0
Net portfolio holdings of Maiden Lane III LLC⁹	0	0	- 22	0
Net portfolio holdings of TALF LLC¹⁰	0	0	- 92	0
Float	-470	- 15	+ 109	-490
Central bank liquidity swaps¹¹	0	0	- 300	0
Other Federal Reserve assets¹²	34,194	+ 1,091	+ 1,416	33,766
Foreign currency denominated assets¹³	19,770	+ 193	- 4,398	20,057
Gold stock	11,041	0	0	11,041
Special drawing rights certificate account	5,200	0	0	5,200
Treasury currency outstanding¹⁴	46,680	+ 14	+ 866	46,680

Total factors supplying reserve funds	4,526,909	- 2,945	+ 190,163	4,515,833

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 Apr 29, 2015
	Week ended Apr 29, 2015	Change from week ended
	Week ended Apr 29, 2015	Apr 22, 2015	Apr 30, 2014
Currency in circulation¹⁴	1,358,817	- 885	+ 88,178	1,360,637
Reverse repurchase agreements¹⁵	242,826	- 17,342	- 42,805	249,887
Foreign official and international accounts	157,581	+ 1,528	+ 46,910	157,663
Others	85,245	- 18,870	- 89,715	92,224
Treasury cash holdings	223	- 9	- 13	229
Deposits with F.R. Banks, other than reserve balances	264,847	+ 100,391	+ 157,665	258,650
Term deposits held by depository institutions	0	0	0	0
U.S. Treasury, General Account	219,702	+ 69,674	+ 135,576	245,426
Foreign official	5,237	- 1	- 2,549	5,233
Other¹⁶	39,908	+ 30,719	+ 24,639	7,992
Other liabilities and capital¹⁷	66,418	+ 169	+ 2,778	65,362

Total factors, other than reserve balances, absorbing reserve funds	1,933,131	+ 82,324	+ 205,802	1,934,765

Reserve balances with Federal Reserve Banks	2,593,777	- 85,270	- 15,641	2,581,067

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 Apr 29, 2015
	Week ended Apr 29, 2015	Change from week ended
	Week ended Apr 29, 2015	Apr 22, 2015	Apr 30, 2014
Securities held in custody for foreign official and international accounts	3,288,587	- 52	+ 9,390	3,293,771
Marketable U.S. Treasury securities¹	2,961,368	- 2,670	+ 17,190	2,966,134
Federal agency debt and mortgage-backed securities²	283,810	+ 3,039	- 9,356	284,135
Other securities³	43,409	- 421	+ 1,556	43,502
Securities lent to dealers	8,784	- 808	- 2,110	10,396
Overnight facility⁴	8,784	- 808	- 2,110	10,396
U.S. Treasury securities	8,506	- 777	- 1,401	10,126
Federal agency debt securities	278	- 32	- 709	270

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, April 29, 2015

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	60	1	0	0	0	...	61
U.S. Treasury securities¹
Holdings	450	1,449	64,212	1,112,544	638,005	643,374	2,460,034
Weekly changes	0	0	+ 1	+ 16	+ 22	+ 75	+ 114
Federal agency debt securities²
Holdings	0	802	7,997	24,749	0	2,347	35,895
Weekly changes	0	0	0	0	0	0	0
Mortgage-backed securities³
Holdings	0	0	0	19	8,793	1,710,038	1,718,850
Weekly changes	0	0	0	- 1	- 176	- 18,043	- 18,220
Repurchase agreements⁴	0	0	...	...	...	...	0
Central bank liquidity swaps⁵	0	0	0	0	0	0	0

Reverse repurchase agreements⁴	249,887	0	...	...	...	...	249,887
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
Account name	Apr 29, 2015
Mortgage-backed securities held outright¹	1,718,850

Commitments to buy mortgage-backed securities²	41,484
Commitments to sell mortgage-backed securities²	0

Cash and cash equivalents³	36

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
Account name	Apr 29, 2015
Net portfolio holdings of Maiden Lane LLC¹	1,689

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 March 31, 2015. 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 from consolidation	Wednesday Apr 29, 2015	Change since
			Wednesday	Wednesday
			Apr 22, 2015	Apr 30, 2014
Assets
Gold certificate account		11,037	0	0
Special drawing rights certificate account		5,200	0	0
Coin		1,801	- 8	- 96
Securities, unamortized premiums and discounts, repurchase agreements, and loans		4,397,889	- 18,983	+ 178,612
Securities held outright¹		4,214,779	- 18,106	+ 187,667
U.S. Treasury securities		2,460,034	+ 114	+ 109,762
Bills²		0	0	0
Notes and bonds, nominal²		2,346,709	0	+ 106,320
Notes and bonds, inflation-indexed²		98,468	0	+ 3,079
Inflation compensation³		14,858	+ 115	+ 364
Federal agency debt securities²		35,895	0	- 9,070
Mortgage-backed securities⁴		1,718,850	- 18,220	+ 86,975
Unamortized premiums on securities held outright⁵		200,860	- 915	- 8,887
Unamortized discounts on securities held outright⁵		-17,811	+ 39	- 108
Repurchase agreements⁶		0	0	0
Loans		61	0	- 60
Net portfolio holdings of Maiden Lane LLC⁷		1,689	- 5	+ 35
Net portfolio holdings of Maiden Lane II LLC⁸		0	0	- 63
Net portfolio holdings of Maiden Lane III LLC⁸		0	0	- 22
Net portfolio holdings of TALF LLC⁹		0	0	- 92
Items in process of collection	(0)	59	- 21	- 33
Bank premises		2,244	- 1	- 30
Central bank liquidity swaps¹⁰		0	0	- 300
Foreign currency denominated assets¹¹		20,057	+ 557	- 4,168
Other assets¹²		31,522	+ 263	+ 1,605

Total assets	(0)	4,471,499	- 18,196	+ 175,450

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 from consolidation	Wednesday Apr 29, 2015	Change since
			Wednesday	Wednesday
			Apr 22, 2015	Apr 30, 2014
Liabilities
Federal Reserve notes, net of F.R. Bank holdings		1,315,983	+ 945	+ 87,275
Reverse repurchase agreements¹³		249,887	- 25,503	- 75,611
Deposits	(0)	2,839,718	+ 7,379	+ 161,453
Term deposits held by depository institutions		0	0	0
Other deposits held by depository institutions		2,581,067	- 36,313	+ 66,629
U.S. Treasury, General Account		245,426	+ 44,353	+ 97,083
Foreign official		5,233	+ 2	- 2,593
Other¹⁴	(0)	7,992	- 664	+ 333
Deferred availability cash items	(0)	549	- 5	- 314
Other liabilities and accrued dividends¹⁵		7,661	- 1,012	+ 1,073

Total liabilities	(0)	4,413,797	- 18,196	+ 173,875

Capital accounts
Capital paid in		28,851	0	+ 787
Surplus		28,851	0	+ 787
Other capital accounts		0	0	0

Total capital		57,702	0	+ 1,575

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, April 29, 2015

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	347	3,709	340	505	783	1,600	734	299	171	288	891	1,370
Special drawing rights certificate acct.	5,200	196	1,818	210	237	412	654	424	150	90	153	282	574
Coin	1,801	38	70	124	119	293	187	268	23	46	148	177	310
Securities, unamortized premiums and discounts, repurchase agreements, and loans	4,397,889	111,488	2,640,074	109,383	105,734	238,867	247,660	163,406	45,863	26,767	57,136	141,669	509,843
Securities held outright¹	4,214,779	106,843	2,530,183	104,829	101,333	228,920	237,343	156,598	43,954	25,633	54,752	135,772	488,621
U.S. Treasury securities	2,460,034	62,361	1,476,788	61,185	59,145	133,613	138,530	91,401	25,654	14,961	31,957	79,246	285,193
Bills²	0	0	0	0	0	0	0	0	0	0	0	0	0
Notes and bonds³	2,460,034	62,361	1,476,788	61,185	59,145	133,613	138,530	91,401	25,654	14,961	31,957	79,246	285,193
Federal agency debt securities²	35,895	910	21,548	893	863	1,950	2,021	1,334	374	218	466	1,156	4,161
Mortgage-backed securities⁴	1,718,850	43,572	1,031,846	42,751	41,325	93,357	96,792	63,863	17,925	10,453	22,329	55,370	199,267
Unamortized premiums on securities held outright⁵	200,860	5,092	120,578	4,996	4,829	10,909	11,311	7,463	2,095	1,222	2,609	6,470	23,286
Unamortized discounts on securities held outright⁵	-17,811	-451	-10,692	-443	-428	-967	-1,003	-662	-186	-108	-231	-574	-2,065
Repurchase agreements⁶	0	0	0	0	0	0	0	0	0	0	0	0	0
Loans	61	5	5	2	0	5	9	8	0	21	5	0	1
Net portfolio holdings of Maiden
Lane LLC⁷	1,689	0	1,689	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	0	0	0	0	0	0	0	0	0	0	0	0	0
Items in process of collection	59	0	0	0	0	0	59	0	0	0	0	0	0
Bank premises	2,244	122	433	74	109	217	210	203	120	95	240	221	199
Central bank liquidity swaps¹⁰	0	0	0	0	0	0	0	0	0	0	0	0	0
Foreign currency denominated
assets¹¹	20,057	909	6,467	1,121	1,563	4,602	1,141	539	187	84	211	289	2,945
Other assets¹²	31,522	837	18,368	795	771	1,911	1,794	1,181	412	223	446	1,132	3,652
Interdistrict settlement account	0	+ 16,804	- 33,988	+ 2,203	+ 13,823	+ 5,713	- 13,906	+ 1,616	+ 3,483	+ 5,049	+ 4,126	+ 5,066	- 9,989

Total assets	4,471,499	130,741	2,638,639	114,249	122,862	252,798	239,399	168,371	50,536	32,525	62,748	149,727	508,903

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, April 29, 2015 (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	1,498,457	50,537	475,834	50,648	77,473	104,049	209,647	106,553	44,741	26,786	42,019	120,803	189,366
Less: Notes held by F.R. Banks	182,474	5,466	60,019	5,608	9,654	12,650	23,824	11,764	5,145	3,033	5,161	14,365	25,787
Federal Reserve notes, net	1,315,983	45,071	415,815	45,041	67,819	91,399	185,823	94,789	39,596	23,753	36,859	106,439	163,580
Reverse repurchase agreements¹³	249,887	6,334	150,010	6,215	6,008	13,572	14,072	9,284	2,606	1,520	3,246	8,050	28,969
Deposits	2,839,718	76,509	2,050,279	59,491	44,247	133,872	35,431	62,381	7,642	6,630	21,891	34,140	307,205
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	2,581,067	76,505	1,791,885	59,466	44,244	133,675	35,422	62,378	7,641	6,630	21,889	34,138	307,195
U.S. Treasury, General Account	245,426	0	245,426	0	0	0	0	0	0	0	0	0	0
Foreign official	5,233	2	5,205	2	3	9	2	1	0	0	0	1	6
Other¹⁴	7,992	3	7,763	23	0	188	7	2	0	0	1	2	4
Deferred availability cash items	549	0	0	0	0	0	327	0	0	222	0	0	0
Interest on Federal Reserve notes due to U.S. Treasury¹⁵	2,259	60	1,227	74	84	206	134	72	18	12	27	63	281
Other liabilities and accrued dividends	5,402	174	2,596	207	225	612	344	268	126	133	120	188	409

Total liabilities	4,413,797	128,149	2,619,928	111,029	118,384	239,661	236,131	166,794	49,987	32,270	62,143	148,879	500,443

Capital
Capital paid in	28,851	1,296	9,356	1,610	2,239	6,569	1,634	788	275	128	302	424	4,230
Surplus	28,851	1,296	9,356	1,610	2,239	6,569	1,634	788	275	128	302	424	4,230
Other capital	0	0	0	0	0	0	0	0	0	0	0	0	0

Total liabilities and capital	4,471,499	130,741	2,638,639	114,249	122,862	252,798	239,399	168,371	50,536	32,525	62,748	149,727	508,903

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, April 29, 2015 (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
Federal Reserve notes and collateral	Apr 29, 2015
Federal Reserve notes outstanding	1,498,457
Less: Notes held by F.R. Banks not subject to collateralization	182,474
Federal Reserve notes to be collateralized	1,315,983
Collateral held against Federal Reserve notes	1,315,983
Gold certificate account	11,037
Special drawing rights certificate account	5,200
U.S. Treasury, agency debt, and mortgage-backed securities pledged^1,2	1,299,746
Other assets pledged	0
Memo:
Total U.S. Treasury, agency debt, and mortgage-backed securities^1,2	4,214,779
Less: Face value of securities under reverse repurchase agreements	240,119
U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged	3,974,660

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