FRB: H.4.1 Release-- Factors Affecting Reserve Balances -- Thursday, August 13, 2015

FEDERAL RESERVE statistical release

H.4.1

Factors Affecting Reserve Balances of Depository Institutions and Condition Statement of Federal Reserve Banks	August 13, 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 Aug 12, 2015
	Week ended Aug 12, 2015	Change from week ended
	Week ended Aug 12, 2015	Aug 5, 2015	Aug 13, 2014
Reserve Bank credit	4,450,134	+ 2,523	+ 72,968	4,450,894
Securities held outright¹	4,231,625	+ 125	+ 84,814	4,231,671
U.S. Treasury securities	2,461,661	+ 103	+ 35,302	2,461,694
Bills²	0	0	0	0
Notes and bonds, nominal²	2,346,641	0	+ 33,910	2,346,641
Notes and bonds, inflation-indexed²	98,534	0	+ 1,202	98,534
Inflation compensation³	16,486	+ 103	+ 190	16,519
Federal agency debt securities²	35,093	0	- 6,953	35,093
Mortgage-backed securities⁴	1,734,871	+ 22	+ 56,466	1,734,884
Unamortized premiums on securities held outright⁵	196,111	- 381	- 13,121	195,988
Unamortized discounts on securities held outright⁵	-17,339	+ 35	+ 1,329	-17,328
Repurchase agreements⁶	0	0	0	0
Loans	212	+ 14	- 56	238
Primary credit	8	- 2	+ 3	25
Secondary credit	0	0	0	0
Seasonal credit	204	+ 16	- 25	214
Term Asset-Backed Securities Loan Facility⁷	0	0	- 34	0
Other credit extensions	0	0	0	0
Net portfolio holdings of Maiden Lane LLC⁸	1,702	0	+ 33	1,702
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	- 44	0
Float	-46	- 42	+ 527	-253
Central bank liquidity swaps¹¹	229	- 79	+ 154	229
Other Federal Reserve assets¹²	37,642	+ 2,855	- 580	38,647
Foreign currency denominated assets¹³	19,528	- 14	- 4,187	19,772
Gold stock	11,041	0	0	11,041
Special drawing rights certificate account	5,200	0	0	5,200
Treasury currency outstanding¹⁴	47,023	+ 14	+ 960	47,023

Total factors supplying reserve funds	4,532,927	+ 2,524	+ 69,742	4,533,931

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 Aug 12, 2015
	Week ended Aug 12, 2015	Change from week ended
	Week ended Aug 12, 2015	Aug 5, 2015	Aug 13, 2014
Currency in circulation¹⁴	1,375,030	+ 1,834	+ 86,920	1,376,776
Reverse repurchase agreements¹⁵	244,187	- 27,389	+ 15,369	228,196
Foreign official and international accounts	162,320	- 1,534	+ 63,111	163,785
Others	81,868	- 25,854	- 47,741	64,411
Treasury cash holdings	141	+ 29	- 14	149
Deposits with F.R. Banks, other than reserve balances	288,320	+ 67,025	+ 193,387	307,029
Term deposits held by depository institutions	66,066	+ 66,066	+ 66,066	66,066
U.S. Treasury, General Account	196,323	- 7,178	+ 118,257	207,989
Foreign official	5,244	0	- 1,321	5,244
Other¹⁶	20,687	+ 8,137	+ 10,385	27,730
Other liabilities and capital¹⁷	66,292	+ 597	+ 1,915	65,992

Total factors, other than reserve balances, absorbing reserve funds	1,973,969	+ 42,095	+ 297,576	1,978,141

Reserve balances with Federal Reserve Banks	2,558,957	- 39,572	- 227,835	2,555,790

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 Aug 12, 2015
	Week ended Aug 12, 2015	Change from week ended
	Week ended Aug 12, 2015	Aug 5, 2015	Aug 13, 2014
Securities held in custody for foreign official and international accounts	3,361,609	+ 5,959	+ 36,406	3,368,240
Marketable U.S. Treasury securities¹	3,021,465	+ 6,237	+ 29,074	3,028,245
Federal agency debt and mortgage-backed securities²	295,634	- 219	+ 5,919	295,488
Other securities³	44,510	- 59	+ 1,412	44,506
Securities lent to dealers	12,534	+ 492	+ 1,958	12,649
Overnight facility⁴	12,534	+ 492	+ 1,958	12,649
U.S. Treasury securities	12,475	+ 497	+ 2,858	12,586
Federal agency debt securities	59	- 5	- 899	63

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, August 12, 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	77	161	0	0	0	...	238
U.S. Treasury securities¹
Holdings	1,287	2	153,952	1,098,292	563,327	644,835	2,461,694
Weekly changes	0	0	+ 3	+ 14	+ 13	+ 60	+ 91
Federal agency debt securities²
Holdings	0	947	11,654	20,145	0	2,347	35,093
Weekly changes	0	0	0	0	0	0	0
Mortgage-backed securities³
Holdings	0	0	0	104	9,459	1,725,321	1,734,884
Weekly changes	0	0	0	0	0	+ 23	+ 23
Repurchase agreements⁴	0	0	...	...	...	...	0
Central bank liquidity swaps⁵	229	0	0	0	0	0	229

Reverse repurchase agreements⁴	228,196	0	...	...	...	...	228,196
Term deposits	66,066	0	0	...	...	...	66,066

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	Aug 12, 2015
Mortgage-backed securities held outright¹	1,734,884

Commitments to buy mortgage-backed securities²	43,046
Commitments to sell mortgage-backed securities²	0

Cash and cash equivalents³	30

1.	Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. The current face value shown is the remaining principal balance of the securities.
2.	Current face value. Generally settle within 180 days and include commitments associated with outright transactions, dollar rolls, and coupon swaps.
3.	This amount is included in other Federal Reserve assets in table 1 and in other assets in table 5 and table 6.

4. Information on Principal Accounts of Maiden Lane LLC

Millions of dollars

Account name	Wednesday
Account name	Aug 12, 2015
Net portfolio holdings of Maiden Lane LLC¹	1,702

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 June 30, 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 Aug 12, 2015	Change since
			Wednesday	Wednesday
			Aug 5, 2015	Aug 13, 2014
Assets
Gold certificate account		11,037	0	0
Special drawing rights certificate account		5,200	0	0
Coin		1,889	+ 11	- 40
Securities, unamortized premiums and discounts, repurchase agreements, and loans		4,410,569	- 140	+ 61,645
Securities held outright¹		4,231,671	+ 114	+ 73,891
U.S. Treasury securities		2,461,694	+ 91	+ 34,047
Bills²		0	0	0
Notes and bonds, nominal²		2,346,641	0	+ 32,640
Notes and bonds, inflation-indexed²		98,534	0	+ 1,202
Inflation compensation³		16,519	+ 90	+ 205
Federal agency debt securities²		35,093	0	- 6,469
Mortgage-backed securities⁴		1,734,884	+ 23	+ 46,313
Unamortized premiums on securities held outright⁵		195,988	- 323	- 13,574
Unamortized discounts on securities held outright⁵		-17,328	+ 30	+ 1,364
Repurchase agreements⁶		0	0	0
Loans		238	+ 38	- 36
Net portfolio holdings of Maiden Lane LLC⁷		1,702	0	+ 33
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	- 44
Items in process of collection	(0)	205	- 18	+ 124
Bank premises		2,235	0	- 26
Central bank liquidity swaps¹⁰		229	- 79	+ 154
Foreign currency denominated assets¹¹		19,772	+ 420	- 3,888
Other assets¹²		36,412	+ 2,728	- 547

Total assets	(0)	4,489,250	+ 2,921	+ 57,327

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 Aug 12, 2015	Change since
			Wednesday	Wednesday
			Aug 5, 2015	Aug 13, 2014
Liabilities
Federal Reserve notes, net of F.R. Bank holdings		1,331,786	+ 1,715	+ 86,913
Reverse repurchase agreements¹³		228,196	- 20,854	- 5,410
Deposits	(0)	2,862,818	+ 20,917	- 26,282
Term deposits held by depository institutions		66,066	+ 66,066	+ 66,066
Other deposits held by depository institutions		2,555,790	- 68,222	- 243,560
U.S. Treasury, General Account		207,989	+ 9,234	+ 139,319
Foreign official		5,244	0	- 1,322
Other¹⁴	(0)	27,730	+ 13,840	+ 13,215
Deferred availability cash items	(0)	458	+ 138	- 206
Other liabilities and accrued dividends¹⁵		7,806	+ 985	+ 461

Total liabilities	(0)	4,431,064	+ 2,901	+ 55,476

Capital accounts
Capital paid in		29,093	+ 10	+ 925
Surplus		29,093	+ 10	+ 925
Other capital accounts		0	0	0

Total capital		58,186	+ 21	+ 1,851

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, August 12, 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	1,889	43	63	131	134	302	194	275	32	44	150	195	326
Securities, unamortized premiums and discounts, repurchase agreements, and loans	4,410,569	111,801	2,647,595	109,692	106,035	239,541	248,377	163,872	46,033	26,947	57,301	142,081	511,294
Securities held outright¹	4,231,671	107,271	2,540,323	105,249	101,739	229,837	238,294	157,225	44,130	25,735	54,972	136,316	490,580
U.S. Treasury securities	2,461,694	62,403	1,477,784	61,226	59,185	133,703	138,623	91,463	25,672	14,971	31,979	79,299	285,385
Bills²	0	0	0	0	0	0	0	0	0	0	0	0	0
Notes and bonds³	2,461,694	62,403	1,477,784	61,226	59,185	133,703	138,623	91,463	25,672	14,971	31,979	79,299	285,385
Federal agency debt securities²	35,093	890	21,067	873	844	1,906	1,976	1,304	366	213	456	1,130	4,068
Mortgage-backed securities⁴	1,734,884	43,978	1,041,472	43,149	41,711	94,228	97,695	64,459	18,092	10,551	22,537	55,886	201,126
Unamortized premiums on securities held outright⁵	195,988	4,968	117,654	4,875	4,712	10,645	11,036	7,282	2,044	1,192	2,546	6,313	22,721
Unamortized discounts on securities held outright⁵	-17,328	-439	-10,402	-431	-417	-941	-976	-644	-181	-105	-225	-558	-2,009
Repurchase agreements⁶	0	0	0	0	0	0	0	0	0	0	0	0	0
Loans	238	1	21	0	0	0	22	9	40	125	8	10	2
Net portfolio holdings of Maiden
Lane LLC⁷	1,702	0	1,702	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	205	0	0	0	0	0	204	0	0	0	0	0	0
Bank premises	2,235	126	435	73	108	216	208	204	118	93	238	220	197
Central bank liquidity swaps¹⁰	229	10	74	13	18	53	13	6	2	1	2	3	34
Foreign currency denominated
assets¹¹	19,772	896	6,375	1,105	1,541	4,536	1,125	531	184	83	208	285	2,903
Other assets¹²	36,412	964	21,348	919	889	2,140	2,075	1,368	482	252	517	1,235	4,225
Interdistrict settlement account	0	+ 7,500	- 100,169	+ 11,534	+ 26,593	+ 38,980	- 11,593	+ 6,280	+ 7,998	+ 4,322	+ 2,266	+ 5,822	+ 468

Total assets	4,489,250	121,882	2,582,950	124,016	136,059	286,962	242,857	173,695	55,298	32,004	61,123	151,013	521,389

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, August 12, 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	1,511,444	49,080	492,754	50,165	81,584	104,400	207,973	105,803	50,224	26,779	41,573	117,824	183,286
Less: Notes held by F.R. Banks	179,657	6,148	59,247	6,134	9,243	12,573	22,574	10,975	5,032	2,910	4,797	15,010	25,012
Federal Reserve notes, net	1,331,786	42,933	433,507	44,031	72,341	91,826	185,399	94,827	45,191	23,869	36,775	102,814	158,274
Reverse repurchase agreements¹³	228,196	5,785	136,989	5,676	5,486	12,394	12,850	8,478	2,380	1,388	2,964	7,351	26,455
Deposits	2,862,818	70,343	1,989,183	70,829	53,467	168,900	40,693	68,472	6,993	6,069	20,615	39,729	327,524
Term deposits held by depository institutions	66,066	25	31,518	9,300	7,000	18	0	4,340	0	15	2,350	0	11,500
Other deposits held by depository institutions	2,555,790	70,314	1,722,928	61,527	46,464	168,654	40,683	58,202	6,958	6,054	18,264	39,727	316,015
U.S. Treasury, General Account	207,989	0	207,989	0	0	0	0	0	0	0	0	0	0
Foreign official	5,244	2	5,217	2	3	9	2	1	0	0	0	1	6
Other¹⁴	27,730	2	21,532	0	0	219	7	5,929	36	0	1	2	3
Deferred availability cash items	458	0	0	0	0	0	182	0	0	276	0	0	0
Interest on Federal Reserve notes due to U.S. Treasury¹⁵	2,636	71	1,519	75	81	204	141	91	23	13	34	71	312
Other liabilities and accrued dividends	5,170	148	2,682	187	196	493	314	244	140	134	119	179	334

Total liabilities	4,431,064	119,279	2,563,880	120,797	131,571	273,818	239,578	172,113	54,728	31,749	60,509	150,144	512,898

Capital
Capital paid in	29,093	1,302	9,535	1,610	2,244	6,572	1,640	791	285	127	307	434	4,245
Surplus	29,093	1,302	9,535	1,610	2,244	6,572	1,640	791	285	127	307	434	4,245
Other capital	0	0	0	0	0	0	0	0	0	0	0	0	0

Total liabilities and capital	4,489,250	121,882	2,582,950	124,016	136,059	286,962	242,857	173,695	55,298	32,004	61,123	151,013	521,389

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, August 12, 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	Aug 12, 2015
Federal Reserve notes outstanding	1,511,444
Less: Notes held by F.R. Banks not subject to collateralization	179,657
Federal Reserve notes to be collateralized	1,331,786
Collateral held against Federal Reserve notes	1,331,786
Gold certificate account	11,037
Special drawing rights certificate account	5,200
U.S. Treasury, agency debt, and mortgage-backed securities pledged^1,2	1,315,549
Other assets pledged	0
Memo:
Total U.S. Treasury, agency debt, and mortgage-backed securities^1,2	4,231,671
Less: Face value of securities under reverse repurchase agreements	217,894
U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged	4,013,777

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