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Release Date: March 26, 2009
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March 26, 2009
The Board's H.4.1 statistical release, "Factors Affecting Reserve Balances of
Depository Institutions and Condition Statement of Federal Reserve Banks," has
been modified to include information related to the Term Asset-Backed
Securities Loan Facility (TALF). Credit was extended under the TALF for the
first time on March 25, 2009.
The TALF will help market participants meet the credit needs of households and
businesses of all sizes by supporting the issuance of asset-backed securities
(ABS) collateralized by loans of various types to consumers and businesses.
Under the TALF, the Federal Reserve Bank of New York (FRBNY) finances the
purchase of eligible ABS by lending to holders of certain highly rated ABS
backed by newly and recently originated consumer and business loans. This
lending will be reported in "Term Asset-Backed Securities Loan Facility" in
table 1 and included in "Other loans" in table 2, table 8, and table 9.
In the event that a borrower does not repay a loan extended under the TALF,
the FRBNY will enforce its rights to the collateral and sell the collateral to
TALF LLC, a special purpose vehicle established by the Federal Reserve
specifically for the purpose of managing such assets. On March 25, 2009, the
Treasury, using funds from the Troubled Asset Relief Program (TARP), purchased
$100 million in subordinated debt in TALF LLC, thereby providing initial
funding for the LLC. The Federal Reserve is evaluating whether consolidation
of the LLC onto the balance sheet of the FRBNY is appropriate.
FEDERAL RESERVE statistical release
H.4.1 Factors Affecting Reserve Balances of Depository Institutions and
Condition Statement of Federal Reserve Banks
March 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 Mar 25, 2009 Mar 18, 2009 Mar 26, 2008 Mar 25, 2009
Reserve Bank credit 2,050,972 + 9,563 +1,181,630 2,055,282
Securities held outright 760,492 + 13,845 + 131,515 761,295
U.S. Treasury securities (1) 474,731 + 43 - 154,246 474,746
Bills (2) 18,423 0 - 105,952 18,423
Notes and bonds, nominal (2) 412,914 0 - 48,543 412,914
Notes and bonds, inflation-indexed (2) 39,378 0 + 941 39,378
Inflation compensation (3) 4,017 + 43 - 691 4,032
Federal agency debt securities (2) 48,796 + 3,328 + 48,796 50,393
Mortgage-backed securities (4) 236,964 + 10,474 + 236,964 236,156
Repurchase agreements (5) 0 0 - 84,821 0
Term auction credit 468,589 0 + 388,589 468,589
Other loans 134,340 - 3,839 + 100,859 136,227
Primary credit 62,782 - 2,901 + 62,232 61,305
Secondary credit 0 - 11 - 2 1
Seasonal credit 3 0 - 3 4
Primary dealer and other broker-dealer credit (6) 20,089 + 414 - 12,834 20,175
Asset-Backed Commercial Paper Money Market
Mutual Fund Liquidity Facility 7,179 - 2,050 + 7,179 6,845
Credit extended to American International
Group, Inc. (7) 43,614 + 35 + 43,614 43,188
Term Asset-Backed Securities Loan Facility 673 + 673 + 673 4,711
Other credit extensions 0 0 0 0
Net portfolio holdings of Commercial Paper
Funding Facility LLC (8) 240,802 - 228 + 240,802 241,311
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) 26,223 + 40 + 26,223 26,288
Net portfolio holdings of Maiden Lane II LLC (11) 18,440 + 11 + 18,440 18,449
Net portfolio holdings of Maiden Lane III LLC (12) 27,631 + 30 + 27,631 27,645
Float -2,152 + 74 - 803 -2,393
Central bank liquidity swaps (13) 327,692 - 1,894 + 327,692 327,778
Other Federal Reserve assets (14) 48,914 + 1,524 + 5,503 50,092
Gold stock 11,041 0 0 11,041
Special drawing rights certificate account 2,200 0 0 2,200
Treasury currency outstanding (15) 38,842 + 14 + 163 38,842
Total factors supplying reserve funds 2,103,055 + 9,577 +1,181,793 2,107,365
Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table.
1. Factors Affecting Reserve Balances of Depository Institutions (continued)
Millions of dollars
Reserve Bank credit, related items, and Averages of daily figures
reserve balances of depository institutions at Week ended Change from week ended Wednesday
Federal Reserve Banks Mar 25, 2009 Mar 18, 2009 Mar 26, 2008 Mar 25, 2009
Currency in circulation (15) 898,615 + 263 + 81,759 899,798
Reverse repurchase agreements (16) 65,178 - 402 + 24,472 66,427
Foreign official and international accounts 65,178 - 402 + 24,472 66,427
Dealers 0 0 0 0
Treasury cash holdings 310 + 5 + 13 310
Deposits with F.R. Banks, other than reserve balances 287,653 - 9,522 + 274,799 267,313
U.S. Treasury, general account 78,083 + 5,360 + 72,354 56,198
U.S. Treasury, supplementary financing account 199,935 - 2 + 199,935 199,935
Foreign official 1,863 - 240 + 1,745 1,587
Service-related 4,465 - 1 - 2,289 4,465
Required clearing balances 4,465 - 1 - 2,289 4,465
Adjustments to compensate for float 0 0 0 0
Other 3,307 - 14,639 + 3,053 5,128
Other liabilities and capital (17) 55,597 + 1,382 + 11,062 55,584
Total factors, other than reserve balances,
absorbing reserve funds 1,307,353 - 8,275 + 392,105 1,289,433
Reserve balances with Federal Reserve Banks 795,702 + 17,852 + 789,688 817,932
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
Mar 25, 2009 Mar 18, 2009 Mar 26, 2008 Mar 25, 2009
Marketable securities held in custody for foreign
official and international accounts (1) 2,594,724 + 4,529 + 410,469 2,596,188
U.S. Treasury securities 1,782,966 + 828 + 498,251 1,785,867
Federal agency securities (2) 811,758 + 3,700 - 87,781 810,321
Securities lent to dealers 93,407 - 16,346 + 83,467 92,958
Overnight facility (3) 3,142 - 491 - 6,798 4,408
Term facility (4,5) 90,264 - 15,856 + 90,264 88,550
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.
5. On March 25, 2009, option contracts on draws on the Term Securities Lending Facility totaling $ 35,000
million were outstanding. The exercise date for the options is March 26, 2009, and the draws have a term of
March 27, 2009 through April 3, 2009.
2. Maturity Distribution of Term Auction Credit, Other Loans, and Securities, March 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 220,726 247,864 --- --- --- --- 468,589
Other loans (1) 82,790 5,509 30 47,899 --- --- 136,227
U.S. Treasury securities (2)
Holdings 19,286 25,225 60,925 168,691 100,938 99,681 474,746
Weekly changes + 2,156 - 2,156 + 1 + 13 + 10 + 18 + 42
Federal agency debt securities (3)
Holdings 0 0 4,090 36,423 9,714 166 50,393
Weekly changes - 571 0 0 + 2,692 0 0 + 2,121
Mortgage-backed securities (4)
Holdings 0 0 0 0 0 236,156 236,156
Weekly changes 0 0 0 0 0 - 333 - 333
Commercial paper held by
Commercial Paper Funding
Facility LLC (5) 2,426 237,437 0 --- --- --- 239,862
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) 177,946 149,832 0 0 0 0 327,778
Reverse repurchase agreements (7) 66,427 0 --- --- --- --- 66,427
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 agreements valued at the exchange rate to be used when the foreign
currency is returned to the foreign central bank. This exchange rate equals the market exchange rate used when the
foreign currency was acquired from the foreign central bank.
3. Information on Principal Accounts of Maiden Lane LLC
Millions of dollars
Wednesday
Account name Mar 25, 2009
Net portfolio holdings of Maiden Lane LLC (1) 26,288
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) 301
Outstanding principal amount and accrued interest on loan payable to JPMorgan Chase & Co. (3) 1,201
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 Mar 25, 2009
Net portfolio holdings of Maiden Lane II LLC (1) 18,449
Outstanding principal amount of loan extended by the Federal Reserve Bank of New York (2) 18,543
Accrued interest payable to the Federal Reserve Bank of New York (2) 91
Deferred payment and accrued interest payable to subsidiaries of American International
Group, Inc. (3) 1,010
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 Mar 25, 2009
Net portfolio holdings of Maiden Lane III LLC (1) 27,645
Outstanding principal amount of loan extended by the Federal Reserve Bank of New York (2) 24,036
Accrued interest payable to the Federal Reserve Bank of New York (2) 127
Outstanding principal amount and accrued interest on loan payable to American International
Group, Inc. (3) 5,062
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 Mar 25, 2009
Commercial paper holdings, net (1) 238,712
Other investments, net 2,599
Net portfolio holdings of Commercial Paper Funding Facility LLC 241,311
Memorandum: Commercial paper holdings, face value 239,862
Outstanding principal amount of loan extended by the Federal Reserve Bank of New York (2) 238,560
Accrued interest payable to the Federal Reserve Bank of New York (2) 78
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 Mar 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 Mar 25, 2009 Mar 18, 2009 Mar 26, 2008
Assets
Gold certificate account 11,037 0 0
Special drawing rights certificate account 2,200 0 0
Coin 1,832 + 5 + 511
Securities, repurchase agreements, term auction
credit, and other loans 1,366,112 + 2,716 + 529,449
Securities held outright 761,295 + 1,830 + 148,990
U.S. Treasury securities (1) 474,746 + 42 - 137,559
Bills (2) 18,423 0 - 95,668
Notes and bonds, nominal (2) 412,914 0 - 42,138
Notes and bonds, inflation-indexed (2) 39,378 0 + 941
Inflation compensation (3) 4,032 + 42 - 694
Federal agency debt securities (2) 50,393 + 2,121 + 50,393
Mortgage-backed securities (4) 236,156 - 333 + 236,156
Repurchase agreements (5) 0 0 - 106,750
Term auction credit 468,589 0 + 388,589
Other loans 136,227 + 885 + 98,620
Net portfolio holdings of Commercial Paper
Funding Facility LLC (6) 241,311 + 598 + 241,311
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) 26,288 + 76 + 26,288
Net portfolio holdings of Maiden Lane II LLC (9) 18,449 + 10 + 18,449
Net portfolio holdings of
Maiden Lane III LLC (10) 27,645 + 17 + 27,645
Items in process of collection (291) 468 + 80 - 317
Bank premises 2,187 0 + 44
Central bank liquidity swaps (11) 327,778 - 1,234 + 327,778
Other assets (12) 47,919 + 2,337 + 6,300
Total assets (291) 2,073,227 + 4,607 +1,177,459
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 Mar 25, 2009 Mar 18, 2009 Mar 26, 2008
Liabilities
Federal Reserve notes, net of F.R. Bank holdings 863,094 + 362 + 82,462
Reverse repurchase agreements (13) 66,427 + 1,400 + 25,605
Deposits (0) 1,085,260 + 1,852 +1,058,249
Depository institutions 822,412 + 42,106 + 800,845
U.S. Treasury, general account 56,198 - 44,181 + 51,254
U.S. Treasury, supplementary financing account 199,935 - 2 + 199,935
Foreign official 1,587 - 903 + 1,348
Other (0) 5,128 + 4,833 + 4,867
Deferred availability cash items (291) 2,861 - 72 + 203
Other liabilities and accrued dividends (14) 9,402 - 3 + 5,569
Total liabilities (291) 2,027,045 + 3,540 +1,172,090
Capital accounts
Capital paid in 22,556 + 23 + 3,010
Surplus 21,148 + 8 + 2,690
Other capital accounts 2,478 + 1,035 - 330
Total capital 46,182 + 1,067 + 5,370
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, March 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 1,832 66 81 157 149 250 214 220 43 62 124 178 289
Securities, repurchase agreements, term
auction credit, and other loans 1,366,112 59,072 626,469 76,577 40,795 153,430 88,717 75,434 31,077 20,446 30,391 38,034 125,670
Securities held outright 761,295 31,932 270,864 33,239 28,868 69,033 75,748 67,192 26,308 14,372 27,953 31,579 84,208
U.S. Treasury securities (1) 474,746 19,913 168,912 20,728 18,002 43,049 47,236 41,901 16,406 8,963 17,432 19,693 52,512
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) 456,324 19,140 162,357 19,924 17,304 41,379 45,403 40,275 15,769 8,615 16,755 18,929 50,474
Federal agency debt securities (2) 50,393 2,114 17,930 2,200 1,911 4,570 5,014 4,448 1,741 951 1,850 2,090 5,574
Mortgage-backed securities (4) 236,156 9,905 84,023 10,311 8,955 21,414 23,497 20,843 8,161 4,458 8,671 9,796 26,121
Repurchase agreements (5) 0 0 0 0 0 0 0 0 0 0 0 0 0
Term auction credit 468,589 20,010 231,676 43,288 11,911 83,833 12,753 6,469 4,638 5,749 2,416 6,025 39,823
Other loans 136,227 7,131 123,929 50 16 565 216 1,774 131 325 22 430 1,640
Net portfolio holdings of Commercial
Paper Funding Facility LLC (6) 241,311 0 241,311 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) 26,288 0 26,288 0 0 0 0 0 0 0 0 0 0
Net portfolio holdings of Maiden
Lane II LLC (9) 18,449 0 18,449 0 0 0 0 0 0 0 0 0 0
Net portfolio holdings of Maiden
Lane III LLC (10) 27,645 0 27,645 0 0 0 0 0 0 0 0 0 0
Items in process of collection 760 35 0 125 83 46 -152 94 23 56 287 70 93
Bank premises 2,187 122 210 65 146 233 224 207 134 112 272 250 212
Central bank liquidity swaps (11) 327,778 13,362 82,961 36,640 24,565 94,647 25,508 11,134 3,319 5,134 3,291 4,289 22,930
Other assets (12) 47,919 1,948 15,110 3,785 2,654 9,050 4,143 2,792 1,040 823 1,093 1,289 4,193
Interdistrict settlement account 0 + 2,283 + 2,555 - 56,821 + 5,226 - 43,961 + 21,013 + 14,424 - 2,241 - 3,818 + 17,638 + 16,147 + 27,555
Total assets 2,073,518 77,427 1,045,888 61,063 74,145 214,733 141,052 105,429 33,809 23,044 53,512 60,990 182,426
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, March 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 1,043,613 37,294 367,362 40,469 45,638 79,293 133,530 87,427 29,519 20,037 29,201 62,786 111,058
Less: Notes held by F.R. Banks 180,519 5,446 55,636 4,886 7,459 12,045 29,015 13,378 3,741 2,861 3,361 17,120 25,571
Federal Reserve notes, net 863,094 31,848 311,726 35,583 38,179 67,248 104,515 74,049 25,777 17,176 25,840 45,666 85,486
Reverse repurchase agreements (13) 66,427 2,786 23,634 2,900 2,519 6,023 6,609 5,863 2,295 1,254 2,439 2,755 7,348
Deposits 1,085,260 40,677 690,497 17,051 29,579 128,406 25,857 23,253 5,077 3,303 24,517 11,571 85,472
Depository institutions 822,412 40,666 427,765 17,047 29,575 128,330 25,851 23,249 5,071 3,302 24,516 11,571 85,468
U.S. Treasury, general account 56,198 0 56,198 0 0 0 0 0 0 0 0 0 0
U.S. Treasury, supplementary
financing account 199,935 0 199,935 0 0 0 0 0 0 0 0 0 0
Foreign official 1,587 2 1,558 4 3 11 3 1 0 1 0 1 3
Other 5,128 10 5,040 0 1 64 2 2 5 0 1 0 2
Deferred availability cash items 3,152 84 0 494 438 203 290 342 40 330 131 215 585
Other liabilities and accrued
dividends (14) 9,402 174 6,676 205 197 511 389 315 161 115 131 181 348
Total liabilities 2,027,336 75,570 1,032,533 56,234 70,912 202,391 137,660 103,822 33,351 22,177 53,059 60,388 179,239
Capital
Capital paid in 22,556 908 6,361 2,381 1,587 6,161 1,645 769 216 485 213 285 1,544
Surplus 21,148 844 5,679 2,315 1,552 5,981 1,612 704 210 324 208 271 1,449
Other capital 2,478 105 1,315 133 94 200 135 135 32 57 32 45 194
Total liabilities and capital 2,073,518 77,427 1,045,888 61,063 74,145 214,733 141,052 105,429 33,809 23,044 53,512 60,990 182,426
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, March 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 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
Mar 25, 2009
Federal Reserve notes outstanding 1,043,613
Less: Notes held by F.R. Banks not subject to collateralization 180,519
Federal Reserve notes to be collateralized 863,094
Collateral held against Federal Reserve notes 863,094
Gold certificate account 11,037
Special drawing rights certificate account 2,200
U.S. Treasury, agency debt, and mortgage-backed securities pledged (1,2) 700,375
Other assets pledged 149,483
Memo:
Total U.S. Treasury, agency debt, and mortgage-backed securities (1,2) 761,295
Less: Face value of securities under reverse repurchase agreements 60,921
U.S. Treasury, agency debt, and mortgage-backed securities
eligible to be pledged 700,375
Note: Components may not sum to totals because of rounding.
1. Includes face value of U.S. Treasury, agency debt, and mortgage-backed securities held outright,
compensation to adjust for the effect of inflation on the original face value of inflation-indexed
securities, and cash value of repurchase agreements.
2. Includes securities lent to dealers under the overnight and term securities lending facilities; refer
to table 1A.
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