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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
February 26, 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 Feb 25, 2009 Feb 18, 2009 Feb 27, 2008 Feb 25, 2009
Reserve Bank credit 1,900,189 - 7,111 +1,033,788 1,899,386
Securities held outright 579,083 + 8,664 - 134,275 581,726
U.S. Treasury securities (1) 474,684 - 106 - 238,674 474,643
Bills (2) 18,423 0 - 181,937 18,423
Notes and bonds, nominal (2) 412,914 0 - 57,096 412,914
Notes and bonds, inflation-indexed (2) 39,378 0 + 941 39,378
Inflation compensation (3) 3,971 - 106 - 580 3,929
Federal agency debt securities (2) 35,869 + 3,311 + 35,869 38,338
Mortgage-backed securities (4) 68,529 + 5,458 + 68,529 68,745
Repurchase agreements (5) 0 0 - 42,857 0
Term auction credit 447,563 0 + 387,563 447,563
Other loans 139,464 - 3,766 + 139,291 138,899
Primary credit 64,408 - 1,584 + 64,239 65,590
Secondary credit 7 + 3 + 7 0
Seasonal credit 2 - 1 - 3 3
Primary dealer and other broker-dealer credit (6) 25,618 - 383 + 25,618 25,163
Asset-backed Commercial Paper Money Market
Mutual Fund Liquidity Facility 11,382 - 2,493 + 11,382 9,980
Credit extended to American International
Group, Inc. (7) 38,046 + 691 + 38,046 38,163
Other credit extensions 0 0 0 0
Net portfolio holdings of Commercial Paper
Funding Facility LLC (8) 246,233 - 4,125 + 246,233 242,503
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) 25,924 + 41 + 25,924 25,969
Net portfolio holdings of Maiden Lane II LLC (11) 18,641 + 10 + 18,641 18,647
Net portfolio holdings of Maiden Lane III LLC (12) 27,677 + 38 + 27,677 27,695
Float -2,380 - 477 - 1,275 -2,151
Central bank liquidity swaps (13) 374,590 - 5,097 + 364,590 374,947
Other Federal Reserve assets (14) 43,395 - 2,398 + 2,278 43,588
Gold stock 11,041 0 0 11,041
Special drawing rights certificate account 2,200 0 0 2,200
Treasury currency outstanding (15) 38,786 + 14 + 106 38,786
Total factors supplying reserve funds 1,952,216 - 7,098 +1,033,895 1,951,413
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 Feb 25, 2009 Feb 18, 2009 Feb 27, 2008 Feb 25, 2009
Currency in circulation (15) 893,696 - 535 + 78,332 895,390
Reverse repurchase agreements (16) 67,843 - 5,150 + 28,310 67,713
Foreign official and international accounts 67,843 - 5,150 + 28,310 67,713
Dealers 0 0 0 0
Treasury cash holdings 278 + 8 + 17 282
Deposits with F.R. Banks, other than reserve balances 247,206 - 5,398 + 235,336 240,361
U.S. Treasury, general account 35,583 + 4,501 + 30,843 25,109
U.S. Treasury, supplementary financing account 199,950 0 + 199,950 199,950
Foreign official 2,682 + 237 + 2,584 2,233
Service-related 4,476 + 2 - 2,274 4,476
Required clearing balances 4,476 + 2 - 2,274 4,476
Adjustments to compensate for float 0 0 0 0
Other 4,516 - 10,137 + 4,233 8,593
Other liabilities and capital (17) 50,884 + 653 + 7,220 50,993
Total factors, other than reserve balances,
absorbing reserve funds 1,259,906 - 10,423 + 349,214 1,254,739
Reserve balances with Federal Reserve Banks 692,310 + 3,326 + 684,680 696,674
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. Dollar value of foreign currency held under these agreements valued at the exchange rate to be used when
the foreign currency is returned to the foreign central bank. This exchange rate equals the market exchange
rate used when the foreign currency was acquired from the foreign central bank.
14. Includes other assets denominated in foreign currencies, which are revalued daily at market exchange rates.
15. Estimated.
16. Cash value of agreements, which are collateralized by U.S. Treasury securities.
17. 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
Feb 25, 2009 Feb 18, 2009 Feb 27, 2008 Feb 25, 2009
Marketable securities held in custody for foreign
official and international accounts (1) 2,580,726 + 4,617 + 439,270 2,579,949
U.S. Treasury securities 1,766,673 + 4,332 + 496,390 1,767,166
Federal agency securities (2) 814,053 + 285 - 57,120 812,783
Securities lent to dealers 117,841 - 3,572 + 103,382 115,930
Overnight facility (3) 6,285 + 152 - 8,174 4,660
Term facility (4) 111,556 - 3,724 + 111,556 111,270
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, February 25, 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 208,558 239,005 --- --- --- --- 447,563
Other loans (1) 90,166 10,267 303 38,163 --- --- 138,899
U.S. Treasury securities (2)
Holdings 19,676 26,823 61,313 167,973 99,416 99,442 474,643
Weekly changes + 2,156 - 2,156 - 4 - 35 - 26 - 47 - 113
Federal agency debt securities (3)
Holdings 449 1,199 2,567 26,690 7,433 0 38,338
Weekly changes - 291 - 349 0 + 4,190 + 1,211 0 + 4,761
Mortgage-backed securities (4)
Holdings 0 0 0 0 0 68,745 68,745
Weekly changes 0 0 0 0 0 + 3,453 + 3,453
Commercial paper held by
Commercial Paper Funding
Facility LLC (5) 19,664 221,920 0 --- --- --- 241,584
Money market instruments held by
LLCs funded through the Money
Market Investor Funding
Facility (6) 0 0 0 --- --- --- 0
Repurchase agreements (7) 0 0 --- --- --- --- 0
Central bank liquidity swaps (8) 246,532 128,416 0 0 0 0 374,947
Reverse repurchase agreements (7) 67,713 0 --- --- --- --- 67,713
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.
8. Dollar value of foreign currency held under these arrangements valued at the exchange rate to be used when the foreign
currency is returned to the foreign central bank. This exchange rate equals the market exchange rate used when the
foreign currency was acquired from the foreign central bank.
3. Information on Principal Accounts of Maiden Lane LLC
Millions of dollars
Wednesday
Account name Feb 25, 2009
Net portfolio holdings of Maiden Lane LLC (1) 25,969
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) 290
Outstanding principal amount and accrued interest on loan payable to JPMorgan Chase & Co. (3) 1,197
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 31, 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 Feb 25, 2009
Net portfolio holdings of Maiden Lane II LLC (1) 18,647
Outstanding principal amount of loan extended by the Federal Reserve Bank of New York (2) 18,825
Accrued interest payable to the Federal Reserve Bank of New York (2) 70
Deferred payment and accrued interest payable to subsidiaries of American International
Group, Inc. (3) 1,008
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 31, 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 Feb 25, 2009
Net portfolio holdings of Maiden Lane III LLC (1) 27,695
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) 99
Outstanding principal amount and accrued interest on loan payable to American International
Group, Inc. (3) 5,049
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 31, 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 Feb 25, 2009
Commercial paper holdings, net (1) 240,110
Other investments, net 2,394
Net portfolio holdings of Commercial Paper Funding Facility LLC 242,503
Memorandum: Commercial paper holdings, face value 241,584
Outstanding principal amount of loan extended by the Federal Reserve Bank of New York (2) 240,271
Accrued interest payable to the Federal Reserve Bank of New York (2) 93
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 Feb 25, 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 Feb 25, 2009 Feb 18, 2009 Feb 27, 2008
Assets
Gold certificate account 11,037 0 0
Special drawing rights certificate account 2,200 0 0
Coin 1,855 - 31 + 503
Securities, repurchase agreements, term auction
credit, and other loans 1,168,188 + 6,507 + 339,646
Securities held outright 581,726 + 8,101 - 131,629
U.S. Treasury securities (1) 474,643 - 113 - 238,712
Bills (2) 18,423 0 - 181,937
Notes and bonds, nominal (2) 412,914 0 - 57,096
Notes and bonds, inflation-indexed (2) 39,378 0 + 941
Inflation compensation (3) 3,929 - 113 - 620
Federal agency debt securities (2) 38,338 + 4,761 + 38,338
Mortgage-backed securities (4) 68,745 + 3,453 + 68,745
Repurchase agreements (5) 0 0 - 54,500
Term auction credit 447,563 0 + 387,563
Other loans 138,899 - 1,594 + 138,212
Net portfolio holdings of Commercial Paper
Funding Facility LLC (6) 242,503 - 6,168 + 242,503
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) 25,969 + 52 + 25,969
Net portfolio holdings of Maiden Lane II LLC (9) 18,647 + 7 + 18,647
Net portfolio holdings of
Maiden Lane III LLC (10) 27,695 + 21 + 27,695
Items in process of collection (346) 959 - 519 - 606
Bank premises 2,187 0 + 49
Central bank liquidity swaps (11) 374,947 - 58 + 364,947
Other assets (12) 41,394 + 734 + 1,871
Total assets (346) 1,917,581 + 545 +1,021,225
Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table.
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 Feb 25, 2009 Feb 18, 2009 Feb 27, 2008
Liabilities
Federal Reserve notes, net of F.R. Bank holdings 858,738 + 250 + 79,286
Reverse repurchase agreements (13) 67,713 - 3,091 + 25,065
Deposits (0) 937,028 + 4,341 + 909,433
Depository institutions 701,143 - 7,987 + 679,020
U.S. Treasury, general account 25,109 + 4,608 + 20,006
U.S. Treasury, supplementary financing account 199,950 0 + 199,950
Foreign official 2,233 - 544 + 2,134
Other (0) 8,593 + 8,264 + 8,323
Deferred availability cash items (346) 3,110 - 1,573 + 336
Other liabilities and accrued dividends (14) 8,798 + 118 + 4,325
Total liabilities (346) 1,875,387 + 44 +1,018,445
Capital accounts
Capital paid in 22,190 + 88 + 2,795
Surplus 19,832 + 326 + 1,375
Other capital accounts 172 + 86 - 1,390
Total capital 42,194 + 500 + 2,780
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. Dollar value of foreign currency held under these agreements valued at the exchange rate to be used when
the foreign currency is returned to the foreign central bank. This exchange rate equals the market
exchange rate used when the foreign currency was acquired from the foreign central bank.
12. Includes other assets denominated in foreign currencies, which are revalued daily at market exchange rates.
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.
9. Statement of Condition of Each Federal Reserve Bank, February 25, 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 1,855 62 83 156 155 256 230 215 46 60 126 187 281
Securities, repurchase agreements, term
auction credit, and other loans 1,168,188 54,979 549,852 65,859 32,614 117,498 73,671 59,290 25,175 17,003 24,111 31,822 116,314
Securities held outright 581,726 24,400 206,975 25,399 22,059 52,750 57,881 51,343 20,102 10,982 21,360 24,131 64,345
U.S. Treasury securities (1) 474,643 19,908 168,875 20,724 17,998 43,040 47,226 41,892 16,402 8,961 17,428 19,689 52,501
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) 456,220 19,136 162,320 19,919 17,300 41,369 45,393 40,266 15,765 8,613 16,751 18,924 50,463
Federal agency debt securities (2) 38,338 1,608 13,640 1,674 1,454 3,476 3,815 3,384 1,325 724 1,408 1,590 4,241
Mortgage-backed securities (4) 68,745 2,883 24,459 3,002 2,607 6,234 6,840 6,067 2,376 1,298 2,524 2,852 7,604
Repurchase agreements (5) 0 0 0 0 0 0 0 0 0 0 0 0 0
Term auction credit 447,563 20,317 220,759 40,315 10,546 64,159 15,539 5,999 4,759 5,699 2,712 6,600 50,160
Other loans 138,899 10,263 122,118 145 9 589 252 1,948 314 321 39 1,091 1,809
Net portfolio holdings of Commercial
Paper Funding Facility LLC (6) 242,503 0 242,503 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) 25,969 0 25,969 0 0 0 0 0 0 0 0 0 0
Net portfolio holdings of Maiden
Lane II LLC (9) 18,647 0 18,647 0 0 0 0 0 0 0 0 0 0
Net portfolio holdings of Maiden
Lane III LLC (10) 27,695 0 27,695 0 0 0 0 0 0 0 0 0 0
Items in process of collection 1,305 59 0 221 138 43 314 65 119 75 49 83 140
Bank premises 2,187 123 211 65 147 230 224 207 133 112 273 250 212
Central bank liquidity swaps (11) 374,947 14,624 107,015 40,100 26,884 103,583 27,916 12,185 3,632 5,619 3,601 4,694 25,095
Other assets (12) 41,394 1,726 12,734 3,365 2,412 8,370 3,525 2,260 850 708 875 1,043 3,525
Interdistrict settlement account 0 + 406 - 31,833 - 54,881 + 11,063 - 39,041 + 28,961 + 24,937 + 3,623 - 4,029 + 16,996 + 19,673 + 24,124
Total assets 1,917,927 72,518 957,685 55,420 73,940 191,978 136,228 100,285 33,993 19,776 46,446 58,484 171,174
Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table.
9. Statement of Condition of Each Federal Reserve Bank, February 25, 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 1,035,690 37,619 362,545 40,792 45,909 79,932 134,304 84,600 28,987 18,045 29,427 61,872 111,658
Less: Notes held by F.R. Banks 176,952 5,735 48,589 5,428 7,332 12,347 29,325 13,753 3,517 3,089 3,663 17,316 26,860
Federal Reserve notes, net 858,738 31,884 313,956 35,364 38,576 67,586 104,979 70,847 25,471 14,956 25,764 44,555 84,798
Reverse repurchase agreements (13) 67,713 2,840 24,092 2,956 2,568 6,140 6,737 5,976 2,340 1,278 2,486 2,809 7,490
Deposits 937,028 35,754 602,314 11,685 29,024 105,907 20,578 21,355 5,555 2,242 17,489 10,158 74,967
Depository institutions 701,143 35,746 366,577 11,680 29,018 105,801 20,575 21,353 5,544 2,242 17,487 10,157 74,963
U.S. Treasury, general account 25,109 0 25,109 0 0 0 0 0 0 0 0 0 0
U.S. Treasury, supplementary
financing account 199,950 0 199,950 0 0 0 0 0 0 0 0 0 0
Foreign official 2,233 2 2,204 4 3 11 3 1 0 1 0 1 3
Other 8,593 6 8,474 1 3 94 0 0 11 0 1 0 2
Deferred availability cash items 3,456 101 0 658 493 201 310 330 33 376 149 228 576
Other liabilities and accrued
dividends (14) 8,798 158 6,310 183 184 441 358 295 154 109 120 170 317
Total liabilities 1,875,733 70,738 946,673 50,846 70,844 180,275 132,962 98,803 33,553 18,963 46,008 57,919 168,148
Capital
Capital paid in 22,190 903 6,282 2,320 1,594 5,979 1,644 730 216 485 214 280 1,543
Surplus 19,832 844 4,731 2,254 1,502 5,724 1,612 704 210 324 208 271 1,449
Other capital 172 32 0 0 0 0 10 48 15 4 16 14 33
Total liabilities and capital 1,917,927 72,518 957,685 55,420 73,940 191,978 136,228 100,285 33,993 19,776 46,446 58,484 171,174
Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table.
9. Statement of Condition of Each Federal Reserve Bank, February 25, 2009 (continued)
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 below.
7. Refer to table 7 and the note on consolidation below.
8. Refer to table 3 and the note on consolidation below.
9. Refer to table 4 and the note on consolidation below.
10. Refer to table 5 and the note on consolidation below.
11. Dollar value of foreign currency held under these agreements valued at the exchange rate to be used when the foreign currency is returned to the foreign central bank. This
exchange rate equals the market exchange rate used when the foreign currency was acquired from the foreign central bank.
12. Includes other assets denominated in foreign currencies, which are revalued daily at market exchange rates.
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 LLCto 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
Feb 25, 2009
Federal Reserve notes outstanding 1,035,690
Less: Notes held by F.R. Banks not subject to collateralization 176,952
Federal Reserve notes to be collateralized 858,738
Collateral held against Federal Reserve notes 858,738
Gold certificate account 11,037
Special drawing rights certificate account 2,200
U.S. Treasury, agency debt, and mortgage-backed securities pledged (1) 519,601
Other assets pledged 325,900
Memo:
Total U.S. Treasury, agency debt, and mortgage-backed securities (1) 581,726
Less: Face value of securities under reverse repurchase agreements 62,125
U.S. Treasury, agency debt, and mortgage-backed securities
eligible to be pledged 519,601
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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