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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

September 3, 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
Sep 2, 2015

Week ended
Sep 2, 2015

Change from week ended

Aug 26, 2015

Sep 3, 2014

Reserve Bank credit

4,437,442

-    9,294

+   63,935

4,437,289

Securities held outright1

4,233,666

-    9,031

+   76,804

4,233,718

U.S. Treasury securities

2,461,928

+       86

+   24,942

2,461,941

Bills2

         0

         0

         0

         0

Notes and bonds, nominal2

2,346,640

-        1

+   23,950

2,346,640

Notes and bonds, inflation-indexed2

    98,534

         0

+      779

    98,534

Inflation compensation3

    16,753

+       85

+      212

    16,767

Federal agency debt securities2

    35,093

         0

-    6,469

    35,093

Mortgage-backed securities4

1,736,645

-    9,116

+   58,332

1,736,684

Unamortized premiums on securities held outright5

   195,079

-      646

-   14,103

   194,945

Unamortized discounts on securities held outright5

   -17,246

+       37

+    1,439

   -17,235

Repurchase agreements6

         0

         0

         0

         0

Loans

       247

-        5

-       52

       247

Primary credit

         5

-        6

-       23

         8

Secondary credit

         0

         0

         0

         0

Seasonal credit

       242

+        1

+        4

       239

Term Asset-Backed Securities Loan Facility7

         0

         0

-       34

         0

Other credit extensions

         0

         0

         0

         0

Net portfolio holdings of Maiden Lane LLC8

     1,699

-        2

+       34

     1,703

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

       150

+       94

+      756

       -13

Central bank liquidity swaps11

       137

+        3

+       61

       137

Other Federal Reserve assets12

    23,709

+      255

-      876

    23,787

Foreign currency denominated assets13

    19,985

-      161

-    3,301

    20,145

Gold stock

    11,041

         0

         0

    11,041

Special drawing rights certificate account

     5,200

         0

         0

     5,200

Treasury currency outstanding14

    47,065

+       14

+      961

    47,065

Total factors supplying reserve funds

4,520,733

-    9,441

+   61,595

4,520,739

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
Sep 2, 2015

Week ended
Sep 2, 2015

Change from week ended

Aug 26, 2015

Sep 3, 2014

Currency in circulation14

1,379,114

+    3,312

+   86,189

1,382,317

Reverse repurchase agreements15

   251,202

+    1,898

-   14,564

   231,901

Foreign official and international accounts

   165,951

+      364

+   63,427

   161,571

Others

    85,251

+    1,534

-   77,990

    70,330

Treasury cash holdings

       156

-        4

-        5

       161

Deposits with F.R. Banks, other than reserve balances

   142,191

-   14,135

+   83,306

   146,514

Term deposits held by depository institutions

         0

         0

         0

         0

U.S. Treasury, General Account

   120,354

-    8,227

+   77,486

   122,263

Foreign official

     5,248

-        2

-    1,318

     5,244

Other16

    16,589

-    5,907

+    7,139

    19,007

Other liabilities and capital17

    66,067

-      259

+    2,075

    65,030

Total factors, other than reserve balances,
absorbing reserve funds

1,838,730

-    9,188

+  157,001

1,825,923

Reserve balances with Federal Reserve Banks

2,682,003

-      253

-   95,406

2,694,817

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
Sep 2, 2015

Week ended
Sep 2, 2015

Change from week ended

Aug 26, 2015

Sep 3, 2014

Securities held in custody for foreign official and international accounts

3,346,627

+    4,860

+    7,901

3,331,522

Marketable U.S. Treasury securities1

3,016,891

+    4,966

+    5,872

3,001,386

Federal agency debt and mortgage-backed securities2

   285,039

-      620

-      738

   285,364

Other securities3

    44,697

+      514

+    2,767

    44,772

Securities lent to dealers

    10,804

-      413

+    1,783

    11,033

Overnight facility4

    10,804

-      413

+    1,783

    11,033

U.S. Treasury securities

    10,757

-      410

+    2,618

    10,983

Federal agency debt securities

        47

-        3

-      835

        50

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, September 2, 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

        46

       201

         0

         0

         0

...

       247

U.S. Treasury securities1

Holdings

         0

       327

   166,961

1,133,905

   522,712

   638,036

2,461,941

Weekly changes

         0

         0

+    6,978

-    4,106

-    2,850

+       43

+       65

Federal agency debt securities2

Holdings

         0

     2,149

    10,452

    20,145

         0

     2,347

    35,093

Weekly changes

         0

         0

         0

         0

         0

         0

         0

Mortgage-backed securities3

Holdings

         0

         0

         0

       100

     9,229

1,727,355

1,736,684

Weekly changes

         0

         0

         0

         0

         0

+       72

+       72

Repurchase agreements4

         0

         0

...

...

...

...

         0

Central bank liquidity swaps5

       137

         0

         0

         0

         0

         0

       137

Reverse repurchase agreements4

   231,901

         0

...

...

...

...

   231,901

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

Sep 2, 2015

Mortgage-backed securities held outright1

1,736,684

Commitments to buy mortgage-backed securities2

    35,577

Commitments to sell mortgage-backed securities2

         0

Cash and cash equivalents3

        32

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

Sep 2, 2015

Net portfolio holdings of Maiden Lane LLC1

     1,703

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
Sep 2, 2015

Change since

Wednesday

Wednesday

Aug 26, 2015

Sep 3, 2014

Assets

Gold certificate account

    11,037

         0

         0

Special drawing rights certificate account

     5,200

         0

         0

Coin

     1,893

-       17

-       29

Securities, unamortized premiums and discounts, repurchase agreements, and loans

4,411,675

-      205

+   64,083

Securities held outright1

4,233,718

+      137

+   76,854

U.S. Treasury securities

2,461,941

+       65

+   24,955

Bills2

         0

         0

         0

Notes and bonds, nominal2

2,346,640

-        1

+   23,950

Notes and bonds, inflation-indexed2

    98,534

         0

+      779

Inflation compensation3

    16,767

+       66

+      226

Federal agency debt securities2

    35,093

         0

-    6,469

Mortgage-backed securities4

1,736,684

+       72

+   58,368

Unamortized premiums on securities held outright5

   194,945

-      368

-   14,094

Unamortized discounts on securities held outright5

   -17,235

+       32

+    1,438

Repurchase agreements6

         0

         0

         0

Loans

       247

-        6

-      115

Net portfolio holdings of Maiden Lane LLC7

     1,703

+        4

+       39

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)

       309

+       19

+      193

Bank premises

     2,233

-        4

-       22

Central bank liquidity swaps10

       137

+        3

+       61

Foreign currency denominated assets11

    20,145

-      141

-    3,060

Other assets12

    21,554

+    1,122

-      837

Total assets

(0)

4,475,886

+      781

+   60,299

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
Sep 2, 2015

Change since

Wednesday

Wednesday

Aug 26, 2015

Sep 3, 2014

Liabilities

Federal Reserve notes, net of F.R. Bank holdings

1,337,302

+    4,095

+   87,236

Reverse repurchase agreements13

   231,901

+       25

-   18,405

Deposits

(0)

2,841,330

-    3,075

-    9,354

Term deposits held by depository institutions

         0

         0

         0

Other deposits held by depository institutions

2,694,817

-   10,346

-  118,936

U.S. Treasury, General Account

   122,263

+    3,116

+  101,227

Foreign official

     5,244

         0

-    1,323

Other14

(0)

    19,007

+    4,155

+    9,679

Deferred availability cash items

(0)

       322

-       75

-      881

Other liabilities and accrued dividends15

     6,739

-      186

-      253

Total liabilities

(0)

4,417,595

+      784

+   58,345

Capital accounts

Capital paid in

    29,145

-        2

+      977

Surplus

    29,145

-        2

+      977

Other capital accounts

         0

         0

         0

Total capital

    58,291

-        3

+    1,954

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, September 2, 2015

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

       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

     1,893

        48

        64

       132

       133

       301

       194

       275

        32

        43

       150

       199

       323

Securities, unamortized premiums and discounts, repurchase agreements,
and loans

4,411,675

   111,827

2,648,233

   109,722

   106,061

   239,600

   248,444

   163,915

    46,068

    26,950

    57,315

   142,117

   511,421

Securities held outright1

4,233,718

   107,323

2,541,552

   105,300

   101,789

   229,948

   238,409

   157,301

    44,151

    25,748

    54,998

   136,382

   490,817

U.S. Treasury securities

2,461,941

    62,409

1,477,933

    61,233

    59,191

   133,717

   138,637

    91,472

    25,674

    14,973

    31,982

    79,307

   285,414

Bills2

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Notes and bonds3

2,461,941

    62,409

1,477,933

    61,233

    59,191

   133,717

   138,637

    91,472

    25,674

    14,973

    31,982

    79,307

   285,414

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

1,736,684

    44,024

1,042,552

    43,194

    41,754

    94,326

    97,796

    64,526

    18,111

    10,562

    22,560

    55,944

   201,335

Unamortized premiums on securities held outright5

   194,945

     4,942

   117,028

     4,849

     4,687

    10,588

    10,978

     7,243

     2,033

     1,186

     2,532

     6,280

    22,600

Unamortized discounts on securities held outright5

   -17,235

      -437

   -10,346

      -429

      -414

      -936

      -971

      -640

      -180

      -105

      -224

      -555

    -1,998

Repurchase agreements6

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Loans

       247

         0

         0

         3

         0

         0

        27

        11

        63

       121

         9

        10

         3

Net portfolio holdings of Maiden

Lane LLC7

     1,703

         0

     1,703

         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

       309

         0

         0

         0

         0

         0

       309

         0

         0

         0

         0

         0

         0

Bank premises

     2,233

       126

       436

        73

       107

       215

       208

       204

       118

        93

       238

       220

       196

Central bank liquidity swaps10

       137

         6

        44

         8

        11

        31

         8

         4

         1

         1

         1

         2

        20

Foreign currency denominated

assets11

    20,145

       910

     6,549

     1,121

     1,564

     4,604

     1,141

       539

       187

        84

       211

       289

     2,946

Other assets12

    21,554

       578

    12,401

       540

       526

     1,321

     1,229

       817

       447

       161

       315

       716

     2,502

Interdistrict settlement account

         0

-   15,358

-  112,475

+   10,231

+   30,521

+   43,031

-    7,446

+   12,972

+   10,259

+    5,053

+    2,787

+    9,934

+   10,492

Total assets

4,475,886

    98,681

2,562,482

   122,378

   139,664

   290,298

   246,340

   179,884

    57,560

    32,646

    61,458

   154,651

   529,844

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, September 2, 2015 (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

1,518,615

    48,737

   496,411

    49,916

    82,568

   104,702

   210,399

   105,521

    52,271

    26,620

    41,297

   117,070

   183,102

Less: Notes held by F.R. Banks

   181,313

     6,197

    57,783

     6,498

     9,869

    11,955

    23,646

    11,662

     5,155

     3,020

     4,772

    14,627

    26,128

Federal Reserve notes, net

1,337,302

    42,540

   438,627

    43,418

    72,699

    92,747

   186,753

    93,859

    47,115

    23,600

    36,525

   102,444

   156,974

Reverse repurchase agreements13

   231,901

     5,879

   139,213

     5,768

     5,575

    12,595

    13,059

     8,616

     2,418

     1,410

     3,013

     7,470

    26,884

Deposits

2,841,330

    47,464

1,961,942

    69,730

    56,673

   171,265

    42,580

    75,509

     7,305

     7,120

    21,160

    43,622

   336,962

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

2,694,817

    47,456

1,822,355

    69,727

    56,670

   171,071

    42,570

    68,847

     7,269

     7,120

    21,158

    43,620

   336,954

U.S. Treasury, General Account

   122,263

         0

   122,263

         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

    19,007

         6

    12,107

         0

         0

       185

         7

     6,661

        35

         0

         1

         1

         2

Deferred availability cash items

       322

         0

         0

         0

         0

         0

       206

         0

         0

       117

         0

         0

         0

Interest on Federal Reserve notes due
to U.S. Treasury15

     1,844

        39

     1,151

        36

        27

        21

       120

        72

        29

        15

        22

        71

       242

Other liabilities and accrued
dividends

     4,895

       155

     2,347

       190

       205

       515

       320

       248

       126

       134

       119

       179

       356

Total liabilities

4,417,595

    96,077

2,543,280

   119,141

   135,180

   277,144

   243,037

   178,304

    56,994

    32,396

    60,838

   153,787

   521,418

Capital

Capital paid in

    29,145

     1,302

     9,601

     1,618

     2,242

     6,577

     1,652

       790

       283

       125

       310

       432

     4,213

Surplus

    29,145

     1,302

     9,601

     1,618

     2,242

     6,577

     1,652

       790

       283

       125

       310

       432

     4,213

Other capital

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Total liabilities and capital

4,475,886

    98,681

2,562,482

   122,378

   139,664

   290,298

   246,340

   179,884

    57,560

    32,646

    61,458

   154,651

   529,844

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, September 2, 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

Sep 2, 2015

Federal Reserve notes outstanding

1,518,615

Less: Notes held by F.R. Banks not subject to collateralization

   181,313

Federal Reserve notes to be collateralized

1,337,302

Collateral held against Federal Reserve notes

1,337,302

Gold certificate account

    11,037

Special drawing rights certificate account

     5,200

U.S. Treasury, agency debt, and mortgage-backed securities pledged1,2

1,321,065

Other assets pledged

         0

Memo:

Total U.S. Treasury, agency debt, and mortgage-backed securities1,2

4,233,718

Less: Face value of securities under reverse repurchase agreements

   217,821

U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged

4,015,897

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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