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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, 2008
1. Factors Affecting Reserve Balances of Depository Institutions
Millions of dollars
Reserve Bank credit, related items, and Averages of daily figures
reserve balances of depository institutions at Week ended Change from week ended Wednesday
Federal Reserve Banks Dec 24, 2008 Dec 17, 2008 Dec 26, 2007 Dec 24, 2008
Reserve Bank credit 2,207,272 - 46,466 +1,333,775 2,241,288
Securities held outright 495,994 + 3,229 - 258,611 496,892
U.S. Treasury (1) 476,067 - 111 - 278,538 476,014
Bills (2) 18,423 0 - 223,433 18,423
Notes and bonds, nominal (2) 410,491 0 - 60,493 410,491
Notes and bonds, inflation-indexed (2) 41,071 0 + 4,160 41,071
Inflation compensation (3) 6,082 - 110 + 1,227 6,029
Federal agency (2) 19,927 + 3,340 + 19,927 20,878
Repurchase agreements (4) 80,000 0 + 40,464 80,000
Term auction credit 420,806 - 27,153 + 400,806 450,219
Other loans 196,868 - 15,657 + 192,040 186,630
Primary credit 86,260 - 2,147 + 81,458 84,898
Secondary credit 51 + 48 + 51 40
Seasonal credit 3 + 1 - 23 3
Primary dealer and other broker-dealer credit (5) 45,679 - 4,814 + 45,679 38,190
Asset-backed commercial paper money market
mutual fund liquidity facility 24,858 - 4,416 + 24,858 23,993
Credit extended to American International
Group, Inc. (6) 40,018 - 4,329 + 40,018 39,507
Other credit extensions 0 0 0 0
Net portfolio holdings of Commercial Paper
Funding Facility LLC (7) 325,796 + 10,529 + 325,796 331,686
Net portfolio holdings of LLCs funded through
the money market investor funding facility (8) 0 0 0 0
Net portfolio holdings of Maiden Lane LLC (9) 26,918 + 26 + 26,918 26,966
Net portfolio holdings of Maiden Lane II LLC (10) 20,033 + 2,514 + 20,033 20,049
Net portfolio holdings of Maiden Lane III LLC (11) 28,085 + 8,477 + 28,085 28,191
Float -1,167 - 138 - 254 -1,334
Other Federal Reserve assets 613,939 - 28,294 + 558,497 621,990
Gold stock 11,041 0 0 11,041
Special drawing rights certificate account 2,200 0 0 2,200
Treasury currency outstanding (12) 38,843 + 14 + 141 38,843
Total factors supplying reserve funds 2,259,356 - 46,452 +1,333,916 2,293,372
Note: Components may not sum to totals because of rounding. Footnotes appear on the following page.
1. Factors Affecting Reserve Balances of Depository Institutions, continued
Millions of dollars
Reserve Bank credit, related items, and Averages of daily figures
reserve balances of depository institutions at Week ended Change from week ended Wednesday
Federal Reserve Banks Dec 24, 2008 Dec 17, 2008 Dec 26, 2007 Dec 24, 2008
Currency in circulation (12) 881,463 + 6,162 + 55,946 886,651
Reverse repurchase agreements (13) 87,758 - 5,442 + 48,638 88,317
Foreign official and international accounts 87,758 + 15,987 + 48,638 88,317
Dealers 0 - 21,429 0 0
Treasury cash holdings 233 + 6 - 15 233
Deposits with F.R. Banks, other than reserve balances 425,657 - 29,092 + 413,753 426,994
U.S. Treasury, general account 125,933 + 46,301 + 121,023 118,058
U.S. Treasury, supplementary financing account 289,247 - 74,930 + 289,247 289,247
Foreign official 644 + 406 + 547 1,190
Service-related 4,414 - 205 - 2,200 4,414
Required clearing balances 4,385 - 207 - 2,229 4,385
Adjustments to compensate for float 29 + 2 + 29 29
Other 5,418 - 665 + 5,135 14,085
Other liabilities and capital (14) 79,640 - 2,434 + 36,808 76,190
Total factors, other than reserve balances,
absorbing reserve funds 1,474,750 - 30,801 + 555,130 1,478,384
Reserve balances with Federal Reserve Banks 784,607 - 15,650 + 778,787 814,987
Note: Components may not sum to totals because of rounding.
1. Includes securities lent to dealers under the overnight and term securities lending facilities; 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. Cash value of agreements.
5. Includes credit extended through the Primary Dealer Credit Facility and credit extended to certain
other broker-dealers.
6. Excludes credit extended to consolidated LLCs.
7. Refer to table 6 and the note on consolidation accompanying table 9.
8. Refer to table 7 and the note on consolidation accompanying table 9.
9. Refer to table 3 and the note on consolidation accompanying table 9.
10. Refer to table 4 and the note on consolidation accompanying table 9.
11. Refer to table 5 and the note on consolidation accompanying table 9.
12. Estimated.
13. Cash value of agreements, which are collateralized by U.S. Treasury securities.
14. Includes the liabilities of Commercial Paper Funding Facility LLC, the LLCs funded through the Money
Market Investor Funding Facility, Maiden Lane LLC, Maiden Lane II LLC, and Maiden Lane III LLC to
entities other than the Federal Reserve Bank of New York, including liabilities that have recourse only
to the portfolio holdings of these LLCs. Refer to table 3 through table 7 and the note on consolidation
accompanying table 9.
Sources: Federal Reserve Banks and the U.S. Department of the Treasury.
1A. Memorandum Items
Millions of dollars
Averages of daily figures
Memorandum item Week ended Change from week ended Wednesday
Dec 24, 2008 Dec 17, 2008 Dec 26, 2007 Dec 24, 2008
Marketable securities held in custody for foreign
official and international accounts (1) 2,509,692 + 11,487 + 453,281 2,513,564
U.S. Treasury 1,684,697 + 28,134 + 458,513 1,694,571
Federal agency 824,995 - 16,647 - 5,232 818,992
Securities lent to dealers 184,566 - 2,580 + 170,436 188,339
Overnight facility (2) 6,970 + 1,398 - 7,160 5,743
Term facility (3) 177,596 - 3,979 + 177,596 182,596
Note: Components may not sum to totals because of rounding.
1. Face value of the securities. Includes U.S. Treasury STRIPS and other zero-coupon bonds at face value.
2. Fully collateralized by U.S. Treasury securities.
3. Fully collateralized by U.S. Treasury securities, federal agency securities, and other highly rated debt
securities.
2. Maturity Distribution of Term Auction Credit, Other Loans, and Securities, December 24, 2008
Millions of dollars
Remaining maturity Within 15 16 days to 91 days to Over 1 year Over 5 years Over 10 All
days 90 days 1 year to 5 years to 10 years years
Term auction credit 181,796 268,423 --- --- --- --- 450,219
Other loans (1) 112,162 34,961 0 39,507 --- --- 186,630
U.S. Treasury securities (2)
Holdings 17,301 22,980 64,478 172,038 97,345 101,871 476,014
Weekly changes + 2,765 - 2,773 0 - 38 - 28 - 50 - 124
Federal agency securities
Holdings 1,620 3,281 976 11,361 3,640 0 20,878
Weekly changes - 3,324 + 221 - 671 + 5,624 + 1,407 0 + 3,257
Commercial paper held by
Commercial Paper Funding
Facility LLC (3) 0 332,125 0 --- --- --- 332,125
Money market instruments held by
LLCs funded through the money
market investor funding
facility (4) 0 0 0 --- --- --- 0
Repurchase agreements (5) 40,000 40,000 --- --- --- --- 80,000
Reverse repurchase agreements (5) 88,317 0 --- --- --- --- 88,317
Note: Components may not sum to totals because of rounding.
--- Not applicable.
1. Excludes the loans from the Federal Reserve Bank of New York (FRBNY) to Commercial Paper Funding Facility LLC, the
LLCs funded through the Money Market Investor Funding Facility, Maiden Lane LLC, Maiden Lane II LLC, and Maiden
Lane III LLC. The loans were eliminated when preparing the FRBNY's statement of condition consistent with
consolidation under generally accepted accounting principles.
2. 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.
3. Face value of commercial paper held by Commercial Paper Funding Facility LLC.
4. Face value of money market instruments held by LLCs funded through the Money Market Investor Funding Facility.
5. Cash value of agreements.
3. Information on Principal Accounts of Maiden Lane LLC
Millions of dollars
Wednesday
Account name Dec 24, 2008
Net portfolio holdings of Maiden Lane LLC (1) 26,966
Outstanding principal amount of loan extended by the Federal Reserve Bank of New York (2) 28,820
Accrued interest payable to the Federal Reserve Bank of New York (2) 265
Outstanding principal amount and accrued interest on loan payable to JPMorgan Chase & Co. (3) 1,187
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, 2008. Any assets purchased after this revaluation 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 9.
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 8 and table 9.
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. Payments by Maiden Lane LLC from the
proceeds of the net portfolio holdings will be made in the following order: operating expenses of the LLC,
principal due to the FRBNY, interest due to the FRBNY, principal due to JPMorgan Chase & Co., and interest
due to JPMorgan Chase & Co. Any remaining funds will be paid to the FRBNY.
4. Information on Principal Accounts of Maiden Lane II LLC
Millions of dollars
Wednesday
Account name Dec 24, 2008
Net portfolio holdings of Maiden Lane II LLC (1) 20,049
Outstanding principal amount of loan extended by the Federal Reserve Bank of New York (2) 19,494
Accrued interest payable to the Federal Reserve Bank of New York (2) 20
Deferred payment and accrued interest payable to subsidiaries of American International
Group, Inc. (3) 1,002
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 December 12, 2008. Any assets purchased after this revaluation 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 9.
3. Book value. The deferred payment represents the portion of the proceeds of the net portfolio holdings due
to AIG subsidiaries in accordance with the asset purchase agreement. The fair value of this payment and
accrued interest payable are included in other liabilities and capital in table 1 and in other liabilities
and accrued dividends in table 8 and table 9.
Note: On December 12, 2008, the Federal Reserve Bank of New York (FRBNY) began extending credit to Maiden
Lane II LLC under the authority of section 13(3) of the Federal Reserve Act. This limited liability company
was formed to purchase residential mortgage-backed securities from the U.S. securities lending reinvestment
portfolio of subsidiaries of American International Group, Inc. (AIG subsidiaries). Payments by Maiden
Lane II LLC from the proceeds of the net portfolio holdings will be made in the following order: operating
expenses of Maiden Lane II LLC, principal due to the FRBNY, interest due to the FRBNY, and deferred payment
and interest due to AIG subsidiaries. Any remaining funds will be shared by the FRBNY and AIG subsidiaries.
5. Information on Principal Accounts of Maiden Lane III LLC
Millions of dollars
Wednesday
Account name Dec 24, 2008
Net portfolio holdings of Maiden Lane III LLC (1) 28,191
Outstanding principal amount of loan extended by the Federal Reserve Bank of New York (2) 24,339
Accrued interest payable to the Federal Reserve Bank of New York (2) 36
Outstanding principal amount and accrued interest on loan payable to American International
Group, Inc. (3) 5,019
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 November 25, 2008. Any assets purchased after this revaluation 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 9.
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 8 and table 9.
Note: On November 25, 2008, the Federal Reserve Bank of New York (FRBNY) began extending credit to Maiden Lane
III LLC under the authority of section 13(3) of the Federal Reserve Act. This limited liability company was
formed to purchase multi-sector collateralized debt obligations (CDOs) on which the Financial Products group
of American International Group, Inc. (AIG) has written credit default swap (CDS) contracts. In connection
with the purchase of CDOs, the CDS counterparties will concurrently unwind the related CDS transactions.
Payments by Maiden Lane III LLC from the proceeds of the net portfolio holdings will be made in the following
order: operating expenses of Maiden Lane III LLC, principal due to the FRBNY, interest due to the FRBNY,
principal due to AIG, and interest due to AIG. Any remaining funds will be shared by the FRBNY and AIG.
6. Information on Principal Accounts of Commercial Paper Funding Facility LLC
Millions of dollars
Wednesday
Account name Dec 24, 2008
Commercial paper holdings, net (1) 330,353
Other investments, net 1,332
Net portfolio holdings of Commercial Paper Funding Facility LLC 331,686
Memorandum: Commercial paper holdings, face value 332,125
Outstanding principal amount of loan extended by the Federal Reserve Bank of New York (2) 330,125
Accrued interest payable to the Federal Reserve Bank of New York (2) 545
1. Book value, which includes amortized cost and related fees.
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 9.
Note: On October 27, 2008, the Federal Reserve Bank of New York began extending loans under the authority of
section 13(3) of the Federal Reserve Act to Commercial Paper Funding Facility LLC. This LLC is a limited
liability company formed to purchase three-month U.S. dollar-denominated commercial paper from eligible issuers
and thereby foster liquidity in short-term funding markets and increase the availability of credit for
businesses and households.
7. Information on Principal Accounts of LLCs Funded through the Money Market Investor Funding Facility
Millions of dollars
Wednesday
Account name Dec 24, 2008
Money market instrument holdings, net (1) 0
Other investments, net 0
Net portfolio holdings of LLCs funded through the money market investor funding facility 0
Memorandum: Money market instrument holdings, face value 0
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
Commercial paper issued by LLCs funded through the money market investor funding facility,
net of related discounts 0
1. Book value, which includes amortized cost.
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 9.
Note: On November 24, 2008, the Federal Reserve Board authorized the Federal Reserve Bank of New York to extend
credit under the authority of section 13(3) of the Federal Reserve Act to a series of limited liability
companies funded through the Money Market Investor Funding Facility. These limited liability companies were
established to purchase short-term U.S. dollar-denominated certificates of deposit, bank notes, and outstanding
asset-backed commercial paper from eligible issuers. Such purchases are designed to foster liquidity in
short-term money markets.
8. Consolidated Statement of Condition of All Federal Reserve Banks
Millions of dollars
Eliminations Change since
from Wednesday Wednesday Wednesday
Assets, liabilities, and capital consolidation Dec 24, 2008 Dec 17, 2008 Dec 26, 2007
Assets
Gold certificate account 11,037 0 0
Special drawing rights certificate account 2,200 0 0
Coin 1,680 + 3 + 507
Securities, repurchase agreements, term auction
credit, and other loans 1,213,741 - 14,521 + 392,094
Securities held outright 496,892 + 3,133 - 257,720
U.S. Treasury (1) 476,014 - 124 - 278,598
Bills (2) 18,423 0 - 223,433
Notes and bonds, nominal (2) 410,491 0 - 60,493
Notes and bonds, inflation-indexed (2) 41,071 0 + 4,160
Inflation compensation (3) 6,029 - 123 + 1,167
Federal agency (2) 20,878 + 3,257 + 20,878
Repurchase agreements (4) 80,000 0 + 37,500
Term auction credit 450,219 + 2,260 + 430,219
Other loans 186,630 - 19,914 + 182,095
Net portfolio holdings of Commercial Paper
Funding Facility LLC (5) 331,686 + 12,843 + 331,686
Net portfolio holdings of LLCs funded through
the money market investor funding facility (6) 0 0 0
Net portfolio holdings of Maiden Lane LLC (7) 26,966 + 56 + 26,966
Net portfolio holdings of Maiden Lane II LLC (8) 20,049 + 18 + 20,049
Net portfolio holdings of Maiden Lane III LLC (9) 28,191 + 8,535 + 28,191
Items in process of collection (515) 1,203 + 300 - 678
Bank premises 2,186 + 1 + 58
Other assets (10) 619,807 - 60,383 + 566,055
Total assets (515) 2,258,744 - 53,149 +1,364,926
Liabilities
Federal Reserve notes, net of F.R. Bank holdings 849,716 + 8,975 + 57,915
Reverse repurchase agreements (11) 88,317 + 16,389 + 47,775
Deposits (0) 1,241,984 - 44,893 +1,225,626
Depository institutions 819,404 + 17,662 + 807,965
U.S. Treasury, general account 118,058 - 2,385 + 113,529
U.S. Treasury, supplementary financing account 289,247 - 74,930 + 289,247
Foreign official 1,190 + 1,000 + 1,093
Other (0) 14,085 + 13,760 + 13,792
Deferred availability cash items (515) 2,537 + 128 + 321
Other liabilities and accrued dividends (12,13) 33,673 - 30,961 + 27,884
Total liabilities (515) 2,216,227 - 50,362 +1,359,521
Capital accounts
Capital paid in 21,071 + 1 + 2,718
Surplus 16,846 - 339 + 1,384
Other capital accounts 4,600 - 2,449 + 1,303
Total capital 42,517 - 2,787 + 5,405
Note: Components may not sum to totals because of rounding.
1. Includes securities lent to dealers under the overnight and term securities lending facilities; 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. Cash value of agreements, which are collateralized by U.S. Treasury and federal agency securities.
5. Refer to table 6 and the note on consolidation accompanying table 9.
6. Refer to table 7 and the note on consolidation accompanying table 9.
7. Refer to table 3 and the note on consolidation accompanying table 9.
8. Refer to table 4 and the note on consolidation accompanying table 9.
9. Refer to table 5 and the note on consolidation accompanying table 9.
10. Includes assets denominated in foreign currencies and any exchange-translation assets, which are
revalued daily at market exchange rates.
11. Cash value of agreements, which are collateralized by U.S. Treasury securities.
12. Includes any exchange-translation liabilities, which are revalued daily at market exchange rates.
13. Includes the liabilities of Commercial Paper Funding Facility LLC, the LLCs funded through the Money Market
Investor Funding Facility, Maiden Lane LLC, Maiden Lane II LLC, and Maiden Lane III LLC to entities other
than the Federal Reserve Bank of New York, including liabilities that have recourse only to the portfolio
holdings of these LLCs. Refer to table 3 through table 7 and the note on consolidation accompanying table 9.
9. Statement of Condition of Each Federal Reserve Bank, December 24, 2008
Millions of dollars
Kansas San
Assets, liabilities, and capital Total Boston New York Philadelphia Cleveland Richmond Atlanta Chicago St. Louis Minneapolis City Dallas Francisco
Assets
Gold certificate account 11,037 424 3,935 453 423 891 1,221 913 344 199 349 636 1,249
Special drawing rights certificate acct. 2,200 115 874 83 104 147 166 212 71 30 66 98 234
Coin 1,680 56 75 133 136 233 213 193 44 55 113 179 249
Securities, repurchase agreements, term
auction credit, and other loans 1,213,741 64,554 579,315 63,813 37,495 127,954 74,991 57,604 25,032 16,751 24,518 28,922 112,792
Securities held outright 496,892 20,842 176,791 21,695 18,842 45,057 49,440 43,855 17,171 9,381 18,245 20,612 54,962
U.S. Treasury (1) 476,014 19,966 169,363 20,783 18,050 43,164 47,363 42,013 16,449 8,987 17,478 19,746 52,652
Bills (2) 18,423 773 6,555 804 699 1,671 1,833 1,626 637 348 676 764 2,038
Notes and bonds (3) 457,591 19,193 162,808 19,979 17,352 41,494 45,530 40,387 15,813 8,639 16,802 18,981 50,615
Federal agency (2) 20,878 876 7,428 912 792 1,893 2,077 1,843 721 394 767 866 2,309
Repurchase agreements (4) 80,000 3,356 28,464 3,493 3,034 7,254 7,960 7,061 2,765 1,510 2,937 3,318 8,849
Term auction credit 450,219 16,150 220,434 38,300 15,575 75,130 17,222 5,094 4,698 5,737 2,740 4,335 44,805
Other loans 186,630 24,207 153,626 325 45 512 369 1,594 398 123 596 657 4,177
Net portfolio holdings of Commercial
Paper Funding Facility LLC (5) 331,686 0 331,686 0 0 0 0 0 0 0 0 0 0
Net portfolio holdings of LLCs funded
through the money market investor
funding facility (6) 0 0 0 0 0 0 0 0 0 0 0 0 0
Net portfolio holdings of Maiden Lane
LLC (7) 26,966 0 26,966 0 0 0 0 0 0 0 0 0 0
Net portfolio holdings of Maiden
Lane II LLC (8) 20,049 0 20,049 0 0 0 0 0 0 0 0 0 0
Net portfolio holdings of Maiden
Lane III LLC (9) 28,191 0 28,191 0 0 0 0 0 0 0 0 0 0
Items in process of collection 1,717 50 0 223 172 56 224 409 39 91 34 239 179
Bank premises 2,186 124 211 64 151 225 226 207 131 111 274 251 212
Other assets (10) 619,807 35,095 157,275 60,021 42,840 164,969 47,972 28,043 6,408 11,907 6,908 12,537 45,834
Interdistrict settlement account 0 - 27,300 + 144,574 - 69,678 + 2,533 - 148,393 + 17,303 + 21,889 + 3,650 - 9,916 + 10,584 + 5,813 + 48,940
Total assets 2,259,259 73,118 1,293,150 55,113 83,854 146,082 142,316 109,471 35,717 19,227 42,846 48,676 209,689
Note: Components may not sum to totals because of rounding.
1. Includes securities lent to dealers under the overnight and term securities lending facilities; 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. Cash value of agreements, which are collateralized by U.S. Treasury and federal agency securities.
5. Refer to table 6 and the note on consolidation on the following page.
6. Refer to table 7 and the note on consolidation on the following page.
7. Refer to table 3 and the note on consolidation on the following page.
8. Refer to table 4 and the note on consolidation on the following page.
9. Refer to table 5 and the note on consolidation on the following page.
10. Includes assets denominated in foreign currencies and any exchange-translation assets, which are revalued daily at market exchange rates.
9. Statement of Condition of Each Federal Reserve Bank, December 24, 2008 (continued)
Millions of dollars
Kansas 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 1,024,543 38,558 358,100 41,448 46,682 81,227 128,949 83,550 29,462 17,631 30,129 55,559 113,249
Less: Notes held by F.R. Banks 174,827 5,550 48,964 5,359 7,380 12,291 24,554 13,264 3,484 2,902 3,639 20,932 26,509
Federal Reserve notes, net 849,716 33,008 309,136 36,089 39,301 68,936 104,395 70,286 25,977 14,728 26,491 34,627 86,740
Reverse repurchase agreements (11) 88,317 3,704 31,423 3,856 3,349 8,008 8,787 7,795 3,052 1,667 3,243 3,663 9,769
Deposits 1,241,984 34,261 910,445 9,673 37,464 56,532 25,327 29,234 6,056 1,793 12,436 9,238 109,525
Depository institutions 819,404 34,252 487,977 9,668 37,460 56,459 25,323 29,232 6,047 1,792 12,435 9,238 109,522
U.S. Treasury, general account 118,058 0 118,058 0 0 0 0 0 0 0 0 0 0
U.S. Treasury, supplementary
financing account 289,247 0 289,247 0 0 0 0 0 0 0 0 0 0
Foreign official 1,190 2 1,160 4 3 11 3 2 0 1 0 1 3
Other 14,085 7 14,003 0 2 62 0 0 9 0 1 0 0
Deferred availability cash items 3,052 78 0 632 445 211 189 325 54 245 129 326 417
Other liabilities and accrued
dividends (12,13) 33,673 171 30,901 226 213 552 399 303 152 112 125 183 337
Total liabilities 2,216,742 71,222 1,281,905 50,475 80,772 134,240 139,098 107,943 35,292 18,546 42,423 48,038 206,788
Capital
Capital paid in 21,071 844 5,602 2,315 1,552 5,980 1,612 703 210 324 208 271 1,449
Surplus 16,846 1,049 3,009 1,815 1,291 4,999 1,426 816 180 354 193 364 1,351
Other capital 4,600 3 2,634 507 239 862 180 9 35 3 22 3 101
Total liabilities and capital 2,259,259 73,118 1,293,150 55,113 83,854 146,082 142,316 109,471 35,717 19,227 42,846 48,676 209,689
Note: Components may not sum to totals because of rounding.
11. Cash value of agreements, which are collateralized by U.S. Treasury securities.
12. Includes any exchange-translation liabilities, which are revalued daily at market exchange rates.
13. Includes the liabilities of Commercial Paper Funding Facility LLC, the LLCs funded through the Money Market Investor Funding Facility, Maiden Lane LLC, Maiden Lane II LLC, and Maiden
Lane III LLC to entities other than the Federal Reserve Bank of New York, including liabilities that have recourse only to the portfolio holdings of these LLCs. Refer to table 3
through table 7 and the note on consolidation below.
Note on consolidation:
The Federal Reserve Bank of New York (FRBNY) has 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 October 27, 2008, the FRBNY began extending loans to Commercial Paper Funding
Facility LLC, which was formed to purchase three-month U.S. dollar-denominated commercial paper from eligible issuers. On November 24, 2008, the Federal Reserve Board authorized the FRBNY
to extend credit to a series of LLCs funded through the Money Market Investor Funding Facility, which were established to purchase short-term U.S. dollar-denominated certificates of
deposit, bank notes, and commercial paper from eligible issuers. 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. has written credit default swap contracts. 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.
The FRBNY is the sole beneficiary of Commercial Paper Funding Facility LLC and the primary beneficiary of the other LLCs cited above. Consistent with generally accepted accounting principles,
the assets and liabilities of these LLCs have been consolidated with the assets and liabilities of the FRBNY in the preparation of the statements of condition shown on this release. As a
consequence of the consolidation, the extensions of credit from the FRBNY to the LLCs are eliminated, the net assets of the LLCs appear as assets on the previous page (and in table 1 and
table 8), and the liabilities of the LLCs to entities other than the FRBNY, including those with recourse only to the portfolio holdings of the LLCs, are included in other liabilities in
this table (and table 1 and table 8).
10. Collateral Held against Federal Reserve Notes: Federal Reserve Agents' Accounts
Millions of dollars
Federal Reserve notes and collateral Wednesday
Dec 24, 2008
Federal Reserve notes outstanding 1,024,543
Less: Notes held by F.R. Banks not subject to collateralization 174,827
Federal Reserve notes to be collateralized 849,716
Collateral held against Federal Reserve notes 849,716
Gold certificate account 11,037
Special drawing rights certificate account 2,200
U.S. Treasury and agency securities pledged (1) 498,178
Other assets pledged 338,301
Memo:
Total U.S. Treasury and agency securities (1) 576,892
Less: Face value of securities under reverse repurchase agreements 78,714
U.S. Treasury and agency securities eligible to be pledged 498,178
Note: Components may not sum to totals because of rounding.
1. Includes face value of U.S. Treasury and agency 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.
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