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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 22, 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 21, 2009 Jan 14, 2009 Jan 23, 2008 Jan 21, 2009
Reserve Bank credit 2,049,246 - 19,936 +1,187,606 2,022,600
Securities held outright 505,323 + 7,834 - 217,975 505,470
U.S. Treasury securities (1) 475,381 - 208 - 247,917 475,322
Bills (2) 18,423 0 - 191,937 18,423
Notes and bonds, nominal (2) 412,914 + 2,423 - 58,070 412,914
Notes and bonds, inflation-indexed (2) 39,378 - 1,693 + 1,915 39,378
Inflation compensation (3) 4,667 - 937 + 176 4,608
Federal agency debt securities (2) 24,158 + 3,800 + 24,158 24,158
Mortgage-backed securities (4) 5,784 + 4,242 + 5,784 5,991
Repurchase agreements (5) 37,143 - 20,000 + 15,643 20,000
Term auction credit 416,031 + 44,644 + 366,031 416,031
Other loans 148,298 - 12,425 + 147,546 149,324
Primary credit 61,618 - 7,483 + 60,874 62,898
Secondary credit 74 + 33 + 74 28
Seasonal credit 1 + 1 - 7 1
Primary dealer and other broker-dealer credit (6) 32,679 - 1,011 + 32,679 33,290
Asset-backed Commercial Paper Money Market
Mutual Fund Liquidity Facility 15,482 - 3,285 + 15,482 14,775
Credit extended to American International
Group, Inc. (7) 38,445 - 679 + 38,445 38,333
Other credit extensions 0 0 0 0
Net portfolio holdings of Commercial Paper
Funding Facility LLC (8) 349,940 + 15,358 + 349,940 350,524
Net portfolio holdings of LLCs funded through
the Money Market Investor Funding Facility (9) 0 0 0 0
Net portfolio holdings of Maiden Lane LLC (10) 27,131 + 61 + 27,131 27,181
Net portfolio holdings of Maiden Lane II LLC (11) 19,802 + 7 + 19,802 19,813
Net portfolio holdings of Maiden Lane III LLC (12) 26,946 + 57 + 26,946 26,967
Float -1,550 - 158 - 269 -2,711
Other Federal Reserve assets 520,184 - 55,313 + 452,814 510,002
Gold stock 11,041 0 0 11,041
Special drawing rights certificate account 2,200 0 0 2,200
Treasury currency outstanding (13) 38,772 + 14 + 92 38,772
Total factors supplying reserve funds 2,101,259 - 19,922 +1,187,698 2,074,613
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 21, 2009 Jan 14, 2009 Jan 23, 2008 Jan 21, 2009
Currency in circulation (13) 882,313 + 1,196 + 70,265 884,900
Reverse repurchase agreements (14) 76,254 - 5,443 + 36,549 75,025
Foreign official and international accounts 76,254 - 5,443 + 36,549 75,025
Dealers 0 0 0 0
Treasury cash holdings 274 + 6 - 14 286
Deposits with F.R. Banks, other than reserve balances 241,334 - 5,752 + 228,894 256,897
U.S. Treasury, general account 35,510 - 1,316 + 30,175 46,705
U.S. Treasury, supplementary financing account 199,747 + 61 + 199,747 199,747
Foreign official 191 - 34 + 89 187
Service-related 4,401 + 14 - 2,278 4,401
Required clearing balances 4,401 + 14 - 2,278 4,401
Adjustments to compensate for float 0 0 0 0
Other 1,485 - 4,477 + 1,160 5,857
Other liabilities and capital (15) 57,869 - 5,520 + 15,318 53,580
Total factors, other than reserve balances,
absorbing reserve funds 1,258,042 - 15,516 + 351,009 1,270,688
Reserve balances with Federal Reserve Banks 843,217 - 4,407 + 836,688 803,925
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. Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. Current face value of the securities, which is
the remaining principal balance of the underlying mortgages.
5. Cash value of agreements.
6. Includes credit extended through the Primary Dealer Credit Facility and credit extended to certain
other broker-dealers.
7. Excludes credit extended to consolidated LLCs.
8. Refer to table 6 and the note on consolidation accompanying table 9.
9. Refer to table 7 and the note on consolidation accompanying table 9.
10. Refer to table 3 and the note on consolidation accompanying table 9.
11. Refer to table 4 and the note on consolidation accompanying table 9.
12. Refer to table 5 and the note on consolidation accompanying table 9.
13. Estimated.
14. Cash value of agreements, which are collateralized by U.S. Treasury securities.
15. 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 21, 2009 Jan 14, 2009 Jan 23, 2008 Jan 21, 2009
Marketable securities held in custody for foreign
official and international accounts (1) 2,541,299 + 13,316 + 445,532 2,541,396
U.S. Treasury securities 1,735,051 + 19,917 + 483,949 1,734,876
Federal agency securities (2) 806,248 - 6,601 - 38,417 806,520
Securities lent to dealers 140,802 + 33 + 130,369 141,072
Overnight facility (3) 7,702 - 188 - 2,731 7,972
Term facility (4) 133,100 + 221 + 133,100 133,100
Note: Components may not sum to totals because of rounding.
1. Face value of the securities. Includes U.S. Treasury STRIPS, other zero-coupon bonds, and mortgage-backed
securities at face value.
2. Includes debt and mortgage-backed securities.
3. Fully collateralized by U.S. Treasury securities.
4. 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 21, 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 138,899 277,132 --- --- --- --- 416,031
Other loans (1) 92,566 18,425 0 38,333 --- --- 149,324
U.S. Treasury securities (2)
Holdings 15,456 21,090 66,655 173,147 97,383 101,591 475,322
Weekly changes - 5,019 + 1,488 + 3,325 - 826 + 921 - 81 - 193
Federal agency debt securities (3)
Holdings 643 2,638 1,044 14,324 5,509 0 24,158
Weekly changes + 150 - 150 + 68 - 68 0 0 0
Mortgage-backed securities (4)
Holdings 0 0 0 0 0 5,991 5,991
Weekly changes 0 0 0 0 0 + 357 + 357
Commercial paper held by
Commercial Paper Funding
Facility LLC (5) 248,227 102,025 0 --- --- --- 350,252
Money market instruments held by
LLCs funded through the Money
Market Investor Funding
Facility (6) 0 0 0 --- --- --- 0
Repurchase agreements (7) 20,000 0 --- --- --- --- 20,000
Reverse repurchase agreements (7) 75,025 0 --- --- --- --- 75,025
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. 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.
3. Face value.
4. Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. Current face value of the securities, which is the remaining
principal balance of the underlying mortgages.
5. Face value of commercial paper held by Commercial Paper Funding Facility LLC.
6. Face value of money market instruments held by LLCs funded through the Money Market Investor Funding Facility.
7. Cash value of agreements.
3. Information on Principal Accounts of Maiden Lane LLC
Millions of dollars
Wednesday
Account name Jan 21, 2009
Net portfolio holdings of Maiden Lane LLC (1) 27,181
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) 276
Outstanding principal amount and accrued interest on loan payable to JPMorgan Chase & Co. (3) 1,191
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 21, 2009
Net portfolio holdings of Maiden Lane II LLC (1) 19,813
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) 44
Deferred payment and accrued interest payable to subsidiaries of American International
Group, Inc. (3) 1,005
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 21, 2009
Net portfolio holdings of Maiden Lane III LLC (1) 26,967
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) 66
Outstanding principal amount and accrued interest on loan payable to American International
Group, Inc. (3) 5,032
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 21, 2009
Commercial paper holdings, net (1) 349,239
Other investments, net 1,285
Net portfolio holdings of Commercial Paper Funding Facility LLC 350,524
Memorandum: Commercial paper holdings, face value 350,252
Outstanding principal amount of loan extended by the Federal Reserve Bank of New York (2) 348,176
Accrued interest payable to the Federal Reserve Bank of New York (2) 847
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 21, 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: 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 (MMIFF). The MMIFF became operational on November 24, 2008. 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 21, 2009 Jan 14, 2009 Jan 23, 2008
Assets
Gold certificate account 11,037 0 0
Special drawing rights certificate account 2,200 0 0
Coin 1,789 + 45 + 495
Securities, repurchase agreements, term auction
credit, and other loans 1,090,825 + 18,976 + 295,490
Securities held outright 505,470 + 164 - 217,845
U.S. Treasury securities (1) 475,322 - 193 - 247,993
Bills (2) 18,423 0 - 191,937
Notes and bonds, nominal (2) 412,914 + 2,423 - 58,070
Notes and bonds, inflation-indexed (2) 39,378 - 1,693 + 1,915
Inflation compensation (3) 4,608 - 921 + 100
Federal agency debt securities (2) 24,158 0 + 24,158
Mortgage-backed securities (4) 5,991 + 357 + 5,991
Repurchase agreements (5) 20,000 - 20,000 - 2,000
Term auction credit 416,031 + 44,734 + 366,031
Other loans 149,324 - 5,921 + 149,304
Net portfolio holdings of Commercial Paper
Funding Facility LLC (6) 350,524 + 15,819 + 350,524
Net portfolio holdings of LLCs funded through
the Money Market Investor Funding Facility (7) 0 0 0
Net portfolio holdings of Maiden Lane LLC (8) 27,181 + 59 + 27,181
Net portfolio holdings of Maiden Lane II LLC (9) 19,813 + 13 + 19,813
Net portfolio holdings of
Maiden Lane III LLC (10) 26,967 + 25 + 26,967
Items in process of collection (643) 1,563 + 291 - 1,125
Bank premises 2,184 + 1 + 47
Other assets (11) 507,791 - 51,799 + 442,570
Total assets (643) 2,041,874 - 16,570 +1,161,962
Note: Components may not sum to totals because of rounding. Footnotes appear on the following page.
8. Consolidated Statement of Condition of All Federal Reserve Banks (continued)
Millions of dollars
Eliminations Change since
from Wednesday Wednesday Wednesday
Assets, liabilities, and capital consolidation Jan 21, 2009 Jan 14, 2009 Jan 23, 2008
Liabilities
Federal Reserve notes, net of F.R. Bank holdings 848,198 + 4,126 + 73,486
Reverse repurchase agreements (12) 75,025 - 3,811 + 37,530
Deposits (0) 1,060,796 - 15,182 +1,039,541
Depository institutions 808,299 - 19,210 + 792,315
U.S. Treasury, general account 46,705 + 15,532 + 41,834
U.S. Treasury, supplementary financing account 199,747 + 61 + 199,747
Foreign official 187 - 24 + 90
Other (0) 5,857 - 11,542 + 5,553
Deferred availability cash items (643) 4,274 + 1,416 + 41
Other liabilities and accrued dividends (13,14) 11,820 - 2,480 + 7,349
Total liabilities (643) 2,000,114 - 15,931 +1,157,947
Capital accounts
Capital paid in 21,514 + 432 + 3,049
Surplus 19,413 - 1,498 + 969
Other capital accounts 834 + 428 - 2
Total capital 41,760 - 640 + 4,015
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. Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. Current face value of the securities, which is
the remaining principal balance of the underlying mortgages.
5. Cash value of agreements, which are collateralized by U.S. Treasury and federal agency securities.
6. Refer to table 6 and the note on consolidation accompanying table 9.
7. Refer to table 7 and the note on consolidation accompanying table 9.
8. Refer to table 3 and the note on consolidation accompanying table 9.
9. Refer to table 4 and the note on consolidation accompanying table 9.
10. Refer to table 5 and the note on consolidation accompanying table 9.
11. Includes assets denominated in foreign currencies and any exchange-translation assets, which are
revalued daily at market exchange rates.
12. Cash value of agreements, which are collateralized by U.S. Treasury securities.
13. Includes any exchange-translation liabilities, which are revalued daily at market exchange rates.
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.
9. Statement of Condition of Each Federal Reserve Bank, January 21, 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 1,789 59 79 145 147 245 227 205 47 58 122 189 266
Securities, repurchase agreements, term
auction credit, and other loans 1,090,825 49,757 520,044 64,906 30,492 126,491 66,934 53,858 21,690 15,884 23,321 27,596 89,851
Securities held outright 505,470 21,201 179,843 22,070 19,167 45,835 50,293 44,613 17,467 9,543 18,560 20,967 55,911
U.S. Treasury securities (1) 475,322 19,937 169,117 20,753 18,024 43,101 47,294 41,952 16,425 8,974 17,453 19,717 52,576
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) 456,899 19,164 162,562 19,949 17,325 41,431 45,461 40,326 15,789 8,626 16,776 18,953 50,538
Federal agency debt securities (2) 24,158 1,013 8,595 1,055 916 2,191 2,404 2,132 835 456 887 1,002 2,672
Mortgage-backed securities (4) 5,991 251 2,131 262 227 543 596 529 207 113 220 248 663
Repurchase agreements (5) 20,000 839 7,116 873 758 1,814 1,990 1,765 691 378 734 830 2,212
Term auction credit 416,031 12,650 207,683 41,750 10,552 78,208 14,296 5,219 3,038 5,700 2,685 4,708 29,543
Other loans 149,324 15,067 125,402 214 14 634 355 2,262 493 264 1,342 1,091 2,185
Net portfolio holdings of Commercial
Paper Funding Facility LLC (6) 350,524 0 350,524 0 0 0 0 0 0 0 0 0 0
Net portfolio holdings of LLCs funded
through the Money Market Investor
Funding Facility (7) 0 0 0 0 0 0 0 0 0 0 0 0 0
Net portfolio holdings of Maiden Lane
LLC (8) 27,181 0 27,181 0 0 0 0 0 0 0 0 0 0
Net portfolio holdings of Maiden
Lane II LLC (9) 19,813 0 19,813 0 0 0 0 0 0 0 0 0 0
Net portfolio holdings of Maiden
Lane III LLC (10) 26,967 0 26,967 0 0 0 0 0 0 0 0 0 0
Items in process of collection 2,206 120 0 336 232 56 261 262 44 110 65 397 324
Bank premises 2,184 124 210 65 147 228 225 207 130 112 273 250 212
Other assets (11) 507,791 28,719 128,810 49,051 35,001 134,611 39,443 23,167 5,362 9,759 5,773 10,373 37,721
Interdistrict settlement account 0 - 16,883 + 9,390 - 60,391 + 18,603 - 64,867 + 27,347 + 27,740 + 7,078 - 7,493 + 6,968 + 7,545 + 44,965
Total assets 2,042,517 62,435 1,087,828 54,648 85,149 197,802 135,823 106,563 34,766 18,658 36,938 47,085 174,822
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. Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. Current face value of the securities, which is the remaining principal balance of the underlying mortgages.
5. Cash value of agreements, which are collateralized by U.S. Treasury and federal agency securities.
6. Refer to table 6 and the note on consolidation on the following page.
7. Refer to table 7 and the note on consolidation on the following page.
8. Refer to table 3 and the note on consolidation on the following page.
9. Refer to table 4 and the note on consolidation on the following page.
10. Refer to table 5 and the note on consolidation on the following page.
11. 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 21, 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 1,024,646 38,062 358,244 41,162 46,328 80,648 129,859 83,737 29,252 17,501 29,749 57,596 112,510
Less: Notes held by F.R. Banks 176,447 5,950 43,317 5,696 8,294 12,801 25,055 14,454 3,923 3,122 3,804 21,436 28,595
Federal Reserve notes, net 848,198 32,112 314,927 35,466 38,033 67,846 104,803 69,283 25,329 14,379 25,945 36,160 83,915
Reverse repurchase agreements (12) 75,025 3,147 26,694 3,276 2,845 6,803 7,465 6,622 2,593 1,416 2,755 3,112 8,299
Deposits 1,060,796 25,172 725,870 10,343 40,355 110,568 19,608 28,351 6,114 1,771 7,455 6,647 78,543
Depository institutions 808,299 25,159 473,562 10,335 40,350 110,424 19,605 28,347 6,108 1,770 7,453 6,646 78,540
U.S. Treasury, general account 46,705 0 46,705 0 0 0 0 0 0 0 0 0 0
U.S. Treasury, supplementary
financing account 199,747 0 199,747 0 0 0 0 0 0 0 0 0 0
Foreign official 187 2 157 4 3 11 3 2 0 1 0 1 3
Other 5,857 10 5,699 4 2 134 0 1 5 0 1 0 0
Deferred availability cash items 4,918 153 0 777 666 328 364 593 160 333 249 441 855
Other liabilities and accrued
dividends (13,14) 11,820 151 9,452 168 169 406 340 293 149 102 118 175 296
Total liabilities 2,000,757 60,734 1,076,943 50,029 82,067 185,951 132,580 105,142 34,344 18,001 36,521 46,536 171,908
Capital
Capital paid in 21,514 845 6,030 2,315 1,552 5,981 1,612 705 210 335 208 271 1,449
Surplus 19,413 844 4,091 2,304 1,529 5,870 1,612 703 210 322 208 271 1,449
Other capital 834 11 764 0 0 0 19 13 2 0 1 7 16
Total liabilities and capital 2,042,517 62,435 1,087,828 54,648 85,149 197,802 135,823 106,563 34,766 18,658 36,938 47,085 174,822
Note: Components may not sum to totals because of rounding.
12. Cash value of agreements, which are collateralized by U.S. Treasury securities.
13. Includes any exchange-translation liabilities, which are revalued daily at market exchange rates.
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 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 October 21, 2008, the Federal Reserve Board authorized the FRBNY
to extend credit to a series of LLCs funded through the Money Market Investor Funding Facility. These LLCs, which became operational on November 24, 2008, 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 21, 2009
Federal Reserve notes outstanding 1,024,646
Less: Notes held by F.R. Banks not subject to collateralization 176,447
Federal Reserve notes to be collateralized 848,198
Collateral held against Federal Reserve notes 848,198
Gold certificate account 11,037
Special drawing rights certificate account 2,200
U.S. Treasury, agency debt, and mortgage-backed securities pledged (1) 458,187
Other assets pledged 376,775
Memo:
Total U.S. Treasury, agency debt, and mortgage-backed securities (1) 525,470
Less: Face value of securities under reverse repurchase agreements 67,284
U.S. Treasury, agency debt, and mortgage-backed securities
eligible to be pledged 458,187
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.
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