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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
January 8, 2009
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 Jan 7, 2009 Dec 31, 2008 Jan 9, 2008 Jan 7, 2009
Reserve Bank credit 2,177,564 - 68,963 +1,308,385 2,122,397
Securities held outright 495,383 - 844 - 232,799 494,976
U.S. Treasury (1) 475,797 - 164 - 252,385 475,718
Bills (2) 18,423 0 - 196,937 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) 5,811 - 164 + 883 5,732
Federal agency (2) 19,587 - 679 + 19,587 19,258
Repurchase agreements (4) 77,143 - 2,857 + 44,107 60,000
Term auction credit 406,805 - 43,414 + 366,805 384,031
Other loans 185,801 - 1,969 + 184,284 178,277
Primary credit 87,935 + 1,385 + 86,423 83,677
Secondary credit 16 - 2 + 16 10
Seasonal credit 2 - 2 - 3 0
Primary dealer and other broker-dealer credit (5) 35,977 - 2,499 + 35,977 34,326
Asset-backed commercial paper money market
mutual fund liquidity facility 22,868 - 929 + 22,868 21,143
Credit extended to American International
Group, Inc. (6) 39,003 + 79 + 39,003 39,120
Other credit extensions 0 0 0 0
Net portfolio holdings of Commercial Paper
Funding Facility LLC (7) 334,272 + 1,862 + 334,272 334,409
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) 27,028 + 54 + 27,028 27,061
Net portfolio holdings of Maiden Lane II LLC (10) 20,071 + 12 + 20,071 19,794
Net portfolio holdings of Maiden Lane III LLC (11) 26,798 - 1,192 + 26,798 26,881
Float -1,462 - 600 - 730 -1,721
Other Federal Reserve assets 605,725 - 20,016 + 538,548 598,689
Gold stock 11,041 0 0 11,041
Special drawing rights certificate account 2,200 0 0 2,200
Treasury currency outstanding (12) 38,871 + 14 + 190 38,871
Total factors supplying reserve funds 2,229,676 - 68,949 +1,308,575 2,174,509
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 Jan 7, 2009 Dec 31, 2008 Jan 9, 2008 Jan 7, 2009
Currency in circulation (12) 887,700 - 1,233 + 65,126 884,860
Reverse repurchase agreements (13) 88,668 + 4,226 + 49,613 88,913
Foreign official and international accounts 88,668 + 4,226 + 49,613 88,913
Dealers 0 0 0 0
Treasury cash holdings 260 + 10 - 4 267
Deposits with F.R. Banks, other than reserve balances 306,200 - 91,626 + 294,062 291,939
U.S. Treasury, general account 66,137 - 48,092 + 60,991 62,686
U.S. Treasury, supplementary financing account 229,403 - 34,197 + 229,403 224,416
Foreign official 1,572 + 1,067 + 1,470 194
Service-related 4,388 + 2 - 2,258 4,388
Required clearing balances 4,387 + 2 - 2,259 4,387
Adjustments to compensate for float 2 + 2 + 2 2
Other 4,700 - 10,406 + 4,457 254
Other liabilities and capital (14) 68,668 - 10,646 + 25,790 66,775
Total factors, other than reserve balances,
absorbing reserve funds 1,351,498 - 99,268 + 434,589 1,332,754
Reserve balances with Federal Reserve Banks 878,178 + 30,319 + 873,986 841,754
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
Jan 7, 2009 Dec 31, 2008 Jan 9, 2008 Jan 7, 2009
Marketable securities held in custody for foreign
official and international accounts (1) 2,524,509 + 8,046 + 467,260 2,523,129
U.S. Treasury 1,710,446 + 11,009 + 478,608 1,707,958
Federal agency 814,062 - 2,964 - 11,349 815,171
Securities lent to dealers 169,639 - 10,023 + 159,953 162,660
Overnight facility (2) 8,539 + 2,048 - 1,147 6,810
Term facility (3) 161,100 - 12,071 + 161,100 155,850
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, January 7, 2009
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 75,643 308,389 --- --- --- --- 384,031
Other loans (1) 116,804 22,352 0 39,120 --- --- 178,277
U.S. Treasury securities (2)
Holdings 16,621 23,469 63,330 173,264 97,280 101,753 475,718
Weekly changes - 2,517 + 2,504 0 - 64 - 45 - 81 - 203
Federal agency securities
Holdings 0 3,281 976 11,361 3,640 0 19,258
Weekly changes - 450 0 0 0 0 0 - 450
Commercial paper held by
Commercial Paper Funding
Facility LLC (3) 0 334,511 0 --- --- --- 334,511
Money market instruments held by
LLCs funded through the money
market investor funding
facility (4) 0 0 0 --- --- --- 0
Repurchase agreements (5) 40,000 20,000 --- --- --- --- 60,000
Reverse repurchase agreements (5) 88,913 0 --- --- --- --- 88,913
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 Jan 7, 2009
Net portfolio holdings of Maiden Lane LLC (1) 27,061
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) 270
Outstanding principal amount and accrued interest on loan payable to JPMorgan Chase & Co. (3) 1,189
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 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 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 Jan 7, 2009
Net portfolio holdings of Maiden Lane II LLC (1) 19,794
Outstanding principal amount of loan extended by the Federal Reserve Bank of New York (2) 19,169
Accrued interest payable to the Federal Reserve Bank of New York (2) 33
Deferred payment and accrued interest payable to subsidiaries of American International
Group, Inc. (3) 1,003
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 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 9.
3. Book value. The deferred payment represents the portion of the proceeds of the net portfolio holdings due
to subsidiaries of American International Group, Inc. 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 Jan 7, 2009
Net portfolio holdings of Maiden Lane III LLC (1) 26,881
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) 52
Outstanding principal amount and accrued interest on loan payable to American International
Group, Inc. (3) 5,026
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 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 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 Jan 7, 2009
Commercial paper holdings, net (1) 333,133
Other investments, net 1,276
Net portfolio holdings of Commercial Paper Funding Facility LLC 334,409
Memorandum: Commercial paper holdings, face value 334,511
Outstanding principal amount of loan extended by the Federal Reserve Bank of New York (2) 332,495
Accrued interest payable to the Federal Reserve Bank of New York (2) 696
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 Jan 7, 2009
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 Jan 7, 2009 Dec 31, 2008 Jan 9, 2008
Assets
Gold certificate account 11,037 0 0
Special drawing rights certificate account 2,200 0 0
Coin 1,704 + 16 + 502
Securities, repurchase agreements, term auction
credit, and other loans 1,117,284 - 102,439 + 317,566
Securities held outright 494,976 - 653 - 233,227
U.S. Treasury (1) 475,718 - 203 - 252,485
Bills (2) 18,423 0 - 196,937
Notes and bonds, nominal (2) 410,491 0 - 60,493
Notes and bonds, inflation-indexed (2) 41,071 0 + 4,160
Inflation compensation (3) 5,732 - 204 + 784
Federal agency (2) 19,258 - 450 + 19,258
Repurchase agreements (4) 60,000 - 20,000 + 29,500
Term auction credit 384,031 - 66,188 + 344,031
Other loans 178,277 - 15,597 + 177,262
Net portfolio holdings of Commercial Paper
Funding Facility LLC (5) 334,409 + 307 + 334,409
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) 27,061 + 38 + 27,061
Net portfolio holdings of Maiden Lane II LLC (8) 19,794 - 323 + 19,794
Net portfolio holdings of Maiden Lane III LLC (9) 26,881 + 96 + 26,881
Items in process of collection (510) 1,489 + 510 - 1,158
Bank premises 2,182 - 12 + 50
Other assets (10) 596,504 - 23,553 + 531,440
Total assets (510) 2,140,543 - 125,361 +1,256,544
Liabilities
Federal Reserve notes, net of F.R. Bank holdings 847,956 - 5,212 + 66,153
Reverse repurchase agreements (11) 88,913 + 561 + 51,140
Deposits (0) 1,133,690 - 114,344 +1,115,129
Depository institutions 846,140 - 13,860 + 833,248
U.S. Treasury, general account 62,686 - 43,437 + 57,323
U.S. Treasury, supplementary financing account 224,416 - 34,909 + 224,416
Foreign official 194 - 1,171 + 96
Other (0) 254 - 20,967 + 45
Deferred availability cash items (510) 3,209 + 738 - 175
Other liabilities and accrued dividends (12,13) 24,445 - 7,283 + 19,391
Total liabilities (510) 2,098,213 - 125,540 +1,251,637
Capital accounts
Capital paid in 21,077 + 1 + 2,618
Surplus 20,806 - 270 + 2,450
Other capital accounts 447 + 447 - 160
Total capital 42,330 + 178 + 4,908
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, January 7, 2009
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 1,704 56 74 138 138 234 216 197 45 55 116 182 254
Securities, repurchase agreements, term
auction credit, and other loans 1,117,284 56,307 539,931 58,208 31,262 120,223 69,521 54,385 22,779 16,381 26,766 28,585 92,935
Securities held outright 494,976 20,761 176,109 21,611 18,769 44,884 49,249 43,686 17,105 9,345 18,174 20,532 54,750
U.S. Treasury (1) 475,718 19,953 169,258 20,771 18,039 43,137 47,333 41,987 16,439 8,981 17,467 19,733 52,620
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) 457,295 19,181 162,703 19,966 17,340 41,467 45,500 40,361 15,802 8,633 16,791 18,969 50,582
Federal agency (2) 19,258 808 6,852 841 730 1,746 1,916 1,700 665 364 707 799 2,130
Repurchase agreements (4) 60,000 2,517 21,348 2,620 2,275 5,441 5,970 5,296 2,073 1,133 2,203 2,489 6,637
Term auction credit 384,031 11,650 195,898 33,700 9,940 69,403 13,962 3,574 3,148 5,727 2,980 4,685 29,366
Other loans 178,277 21,379 146,576 277 277 496 341 1,829 453 177 3,409 880 2,183
Net portfolio holdings of Commercial
Paper Funding Facility LLC (5) 334,409 0 334,409 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) 27,061 0 27,061 0 0 0 0 0 0 0 0 0 0
Net portfolio holdings of Maiden
Lane II LLC (8) 19,794 0 19,794 0 0 0 0 0 0 0 0 0 0
Net portfolio holdings of Maiden
Lane III LLC (9) 26,881 0 26,881 0 0 0 0 0 0 0 0 0 0
Items in process of collection 1,999 52 0 219 264 106 516 231 15 138 49 163 244
Bank premises 2,182 123 210 64 147 228 225 207 130 112 273 250 212
Other assets (10) 596,504 33,823 150,788 57,835 41,254 158,855 46,268 27,063 6,200 11,469 6,679 12,098 44,171
Interdistrict settlement account 0 - 17,736 + 62,282 - 60,656 + 15,076 - 109,741 + 22,614 + 35,283 + 7,088 - 9,012 + 4,028 + 7,149 + 43,625
Total assets 2,141,053 73,163 1,166,239 56,344 88,668 170,943 140,748 118,491 36,673 19,371 38,327 49,162 182,923
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, January 7, 2009 (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 1,023,123 38,475 357,980 41,318 46,562 81,116 128,726 83,637 29,371 17,627 30,062 55,491 112,758
Less: Notes held by F.R. Banks 175,167 5,852 46,479 5,178 7,846 12,286 24,972 13,406 3,722 2,937 3,692 21,329 27,469
Federal Reserve notes, net 847,956 32,623 311,501 36,141 38,716 68,831 103,754 70,231 25,648 14,690 26,370 34,162 85,289
Reverse repurchase agreements (11) 88,913 3,729 31,635 3,882 3,372 8,063 8,847 7,847 3,073 1,679 3,265 3,688 9,835
Deposits 1,133,690 34,886 789,414 10,857 42,633 81,556 24,368 38,314 7,329 2,004 8,008 10,303 84,017
Depository institutions 846,140 34,879 502,055 10,852 42,630 81,397 24,365 38,312 7,323 2,003 8,007 10,303 84,014
U.S. Treasury, general account 62,686 0 62,686 0 0 0 0 0 0 0 0 0 0
U.S. Treasury, supplementary
financing account 224,416 0 224,416 0 0 0 0 0 0 0 0 0 0
Foreign official 194 2 164 4 3 11 3 2 0 1 0 1 3
Other 254 5 93 2 0 149 0 0 5 0 1 0 0
Deferred availability cash items 3,719 89 0 695 708 268 198 407 54 255 154 294 595
Other liabilities and accrued
dividends (12,13) 24,445 143 22,135 156 166 391 361 283 146 97 109 171 286
Total liabilities 2,098,723 71,471 1,154,684 51,731 85,596 159,110 137,527 117,083 36,251 18,725 37,906 48,618 180,022
Capital
Capital paid in 21,077 845 5,607 2,315 1,552 5,981 1,612 703 210 324 208 271 1,449
Surplus 20,806 822 5,612 2,299 1,487 5,853 1,600 703 210 322 208 271 1,419
Other capital 447 26 336 0 34 0 9 1 2 0 4 1 34
Total liabilities and capital 2,141,053 73,163 1,166,239 56,344 88,668 170,943 140,748 118,491 36,673 19,371 38,327 49,162 182,923
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
Jan 7, 2009
Federal Reserve notes outstanding 1,023,123
Less: Notes held by F.R. Banks not subject to collateralization 175,167
Federal Reserve notes to be collateralized 847,956
Collateral held against Federal Reserve notes 847,956
Gold certificate account 11,037
Special drawing rights certificate account 2,200
U.S. Treasury and agency securities pledged (1) 475,259
Other assets pledged 359,460
Memo:
Total U.S. Treasury and agency securities (1) 554,976
Less: Face value of securities under reverse repurchase agreements 79,717
U.S. Treasury and agency securities eligible to be pledged 475,259
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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