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Release Date: July 30, 2009
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For release at
4:30 p.m. EDT
July 30, 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 incorporate a loan restructuring
adjustment associated with the credit extended to American International Group, Inc. (AIG). In addition,
the release incorporates updated valuations of the portfolio holdings of Maiden Lane LLC, Maiden Lane II
LLC, and Maiden Lane III LLC (collectively, LLCs), which are updated quarterly.
Consistent with U.S. generally accepted accounting principles (GAAP), the reported value of the AIG
revolving credit extension has been reduced by a $1.3 billion adjustment for loan restructuring. This
adjustment is related to the most recent loan modification, announced on March 2, 2009, which eliminated the
existing floor on the LIBOR rate. In accordance with GAAP, this restructuring adjustment is intended to
recognize the economic effect of the reduced interest rate and will be recovered as the adjustment is
amortized over the remaining term of the credit extension. The Federal Reserve expects that the credit
extension, including interest and commitment fees under the modified terms, will be fully repaid.
The credit extended to AIG is listed in table 1 and has been renamed "Credit extended to American
International Group, Inc., net," and footnote 7, which is related to the credit extension, clarifies that
the loan is reported net of the unamortized commitment fees and is now reported net of the adjustment for
loan restructuring. The credit extension is included in other loans in table 2, table 9, and table 10.
The weekly average net portfolio holdings of the LLCs, shown in table 1, reflect holdings from Thursday,
July 23, 2009, through Wednesday, July 29, 2009. The holdings for the first six days of this reporting week
are based on values as of the previous valuation dates for the LLCs. The holdings for the final day of the
reporting week are based on values as of June 30, 2009. The fair value of the net portfolio holdings is
updated quarterly.
The weekly average balance of the AIG credit extension, shown on table 1, reflects the value before
recording the restructuring adjustment for the first six days and the value after recording the
restructuring adjustment for the final day of the reporting week.
FEDERAL RESERVE statistical release
H.4.1
Factors Affecting Reserve Balances of Depository Institutions and
Condition Statement of Federal Reserve Banks
July 30, 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 Jul 29, 2009 Jul 22, 2009 Jul 30, 2008 Jul 29, 2009
Reserve Bank credit 2,010,048 - 611 +1,115,620 1,985,307
Securities held outright (1) 1,343,891 + 17,940 + 864,717 1,344,561
U.S. Treasury securities 695,318 + 8,842 + 216,144 695,758
Bills (2) 18,423 0 - 3,317 18,423
Notes and bonds, nominal (2) 627,146 + 8,571 + 214,754 627,575
Notes and bonds, inflation-indexed (2) 44,438 + 215 + 5,267 44,438
Inflation compensation (3) 5,311 + 56 - 560 5,323
Federal agency debt securities (2) 104,066 + 1,945 + 104,066 105,915
Mortgage-backed securities (4) 544,507 + 7,153 + 544,507 542,888
Repurchase agreements (5) 0 0 - 113,714 0
Term auction credit 237,629 - 5 + 87,629 237,621
Other loans 108,531 - 2,109 + 90,887 109,888
Primary credit 33,803 + 55 + 16,351 36,370
Secondary credit 105 + 74 + 16 0
Seasonal credit 88 - 1 - 13 94
Primary dealer and other broker-dealer credit (6) 0 0 - 3 0
Asset-Backed Commercial Paper Money Market
Mutual Fund Liquidity Facility 1,073 - 2,487 + 1,073 806
Credit extended to American International
Group, Inc., net (7) 43,054 - 78 + 43,054 42,196
Term Asset-Backed Securities Loan Facility 30,408 + 328 + 30,408 30,422
Other credit extensions 0 0 0 0
Net portfolio holdings of Commercial Paper
Funding Facility LLC (8) 94,414 - 16,087 + 94,414 67,300
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) 26,029 + 40 - 3,036 25,870
Net portfolio holdings of Maiden Lane II LLC (11) 15,672 - 83 + 15,672 15,144
Net portfolio holdings of Maiden Lane III LLC (12) 19,166 + 349 + 19,166 21,137
Float -1,778 + 280 - 457 -2,372
Central bank liquidity swaps (13) 87,738 - 2,126 + 25,738 87,738
Other Federal Reserve assets (14) 78,756 + 1,191 + 34,604 78,420
Gold stock 11,041 0 0 11,041
Special drawing rights certificate account 2,200 0 0 2,200
Treasury currency outstanding (15) 42,487 + 14 + 3,811 42,487
Total factors supplying reserve funds 2,065,776 - 597 +1,119,431 2,041,035
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 Jul 29, 2009 Jul 22, 2009 Jul 30, 2008 Jul 29, 2009
Currency in circulation (15) 908,661 - 83 + 78,102 910,869
Reverse repurchase agreements (16) 66,206 - 1,599 + 22,670 66,010
Foreign official and international accounts 66,206 - 1,599 + 22,670 66,010
Dealers 0 0 0 0
Treasury cash holdings 332 - 15 + 19 302
Deposits with F.R. Banks, other than reserve balances 268,912 - 11,724 + 256,142 265,601
U.S. Treasury, general account 61,406 - 11,782 + 56,312 57,825
U.S. Treasury, supplementary financing account 199,936 0 + 199,936 199,936
Foreign official 2,032 + 296 + 1,931 2,178
Service-related 5,152 - 12 - 2,101 5,152
Required clearing balances 5,152 0 - 2,101 5,152
Adjustments to compensate for float 0 - 12 0 0
Other 386 - 226 + 64 511
Other liabilities and capital (17) 57,045 + 434 + 13,166 56,293
Total factors, other than reserve balances,
absorbing reserve funds 1,301,156 - 12,988 + 370,099 1,299,075
Reserve balances with Federal Reserve Banks 764,620 + 12,391 + 749,332 741,959
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. Includes outstanding principal and capitalized interest net of unamortized deferred commitment fees and
allowance for loan restructuring. Excludes credit extended to consolidated LLCs.
8. Refer to table 7 and the note on consolidation accompanying table 10.
9. Refer to table 8 and the note on consolidation accompanying table 10.
10. Refer to table 4 and the note on consolidation accompanying table 10.
11. Refer to table 5 and the note on consolidation accompanying table 10.
12. Refer to table 6 and the note on consolidation accompanying table 10.
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 4 through table 8 and the note on consolidation accompanying table 10.
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
Jul 29, 2009 Jul 22, 2009 Jul 30, 2008 Jul 29, 2009
Marketable securities held in custody for foreign
official and international accounts (1) 2,793,163 + 6,232 + 425,489 2,793,528
U.S. Treasury securities 2,001,173 + 5,378 + 616,755 2,002,283
Federal agency securities (2) 791,990 + 853 - 191,266 791,245
Securities lent to dealers 10,919 - 543 - 115,734 11,411
Overnight facility (3) 8,219 - 321 + 3,343 8,711
U.S. Treasury securities 8,038 - 317 + 3,162 8,526
Federal agency debt securities 181 - 4 + 181 185
Term facility (4) 2,700 - 221 - 119,077 2,700
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. U.S. Treasury securities only. 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, July 29, 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 141,831 95,790 --- --- --- --- 237,621
Other loans (1) 24,550 12,720 0 72,618 0 --- 109,888
U.S. Treasury securities (2)
Holdings 18,885 20,024 63,997 277,385 183,950 131,517 695,758
Weekly changes + 3,867 - 3,867 + 3 + 9 + 7 + 3,013 + 3,032
Federal agency debt securities (3)
Holdings 0 750 12,751 69,884 21,203 1,327 105,915
Weekly changes 0 0 0 + 3,235 0 0 + 3,235
Mortgage-backed securities (4)
Holdings 0 0 0 0 0 542,888 542,888
Weekly changes 0 0 0 0 0 - 2,578 - 2,578
Commercial paper held by
Commercial Paper Funding
Facility LLC (5) 14,261 48,946 0 --- --- --- 63,206
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) 70,530 17,208 0 0 0 0 87,738
Reverse repurchase agreements (7) 66,010 0 --- --- --- --- 66,010
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. Supplemental Information on Mortgage-Backed Securities Purchase Program
Millions of dollars
Wednesday
Account name Jul 29, 2009
Mortgage-backed securities held outright (1) 542,888
Commitments to buy mortgage-backed securities (2) 154,270
Commitments to sell mortgage-backed securities (2) 19,180
Cash and cash equivalents (3) 7
1. 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.
2. Current face value. Generally settle within 180 days and include commitments associated with outright
transactions as well as dollar rolls.
3. This amount is included in other Federal Reserve assets in table 1 and in other assets in table 9 and table 10.
4. Information on Principal Accounts of Maiden Lane LLC
Millions of dollars
Wednesday
Account name Jul 29, 2009
Net portfolio holdings of Maiden Lane LLC (1) 25,870
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) 351
Outstanding principal amount and accrued interest on loan payable to JPMorgan Chase & Co. (3) 1,222
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 June 30, 2009. 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 10.
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 9 and table 10.
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.
5. Information on Principal Accounts of Maiden Lane II LLC
Millions of dollars
Wednesday
Account name Jul 29, 2009
Net portfolio holdings of Maiden Lane II LLC (1) 15,144
Outstanding principal amount of loan extended by the Federal Reserve Bank of New York (2) 17,232
Accrued interest payable to the Federal Reserve Bank of New York (2) 177
Deferred payment and accrued interest payable to subsidiaries of American International
Group, Inc. (3) 1,022
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 June 30, 2009. 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 10.
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 9 and table 10.
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.
6. Information on Principal Accounts of Maiden Lane III LLC
Millions of dollars
Wednesday
Account name Jul 29, 2009
Net portfolio holdings of Maiden Lane III LLC (1) 21,137
Outstanding principal amount of loan extended by the Federal Reserve Bank of New York (2) 20,757
Accrued interest payable to the Federal Reserve Bank of New York (2) 237
Outstanding principal amount and accrued interest on loan payable to American International
Group, Inc. (3) 5,122
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 June 30, 2009. 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 10.
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 9 and table 10.
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.
7. Information on Principal Accounts of Commercial Paper Funding Facility LLC
Millions of dollars
Wednesday
Account name Jul 29, 2009
Commercial paper holdings, net (1) 62,911
Other investments, net 4,390
Net portfolio holdings of Commercial Paper Funding Facility LLC 67,300
Memorandum: Commercial paper holdings, face value 63,206
Outstanding principal amount of loan extended by the Federal Reserve Bank of New York (2) 62,783
Accrued interest payable to the Federal Reserve Bank of New York (2) 15
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 10.
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.
8. Information on Principal Accounts of LLCs Funded through the Money Market Investor Funding Facility
Millions of dollars
Wednesday
Account name Jul 29, 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 10.
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.
9. Consolidated Statement of Condition of All Federal Reserve Banks
Millions of dollars
Eliminations Change since
from Wednesday Wednesday Wednesday
Assets, liabilities, and capital consolidation Jul 29, 2009 Jul 22, 2009 Jul 30, 2008
Assets
Gold certificate account 11,037 0 0
Special drawing rights certificate account 2,200 0 0
Coin 1,895 + 57 + 509
Securities, repurchase agreements, term auction
credit, and other loans 1,692,070 + 4,427 + 922,237
Securities held outright (1) 1,344,561 + 3,690 + 865,355
U.S. Treasury securities 695,758 + 3,032 + 216,552
Bills (2) 18,423 0 - 3,317
Notes and bonds, nominal (2) 627,575 + 3,000 + 215,183
Notes and bonds, inflation-indexed (2) 44,438 0 + 5,267
Inflation compensation (3) 5,323 + 32 - 580
Federal agency debt securities (2) 105,915 + 3,235 + 105,915
Mortgage-backed securities (4) 542,888 - 2,578 + 542,888
Repurchase agreements (5) 0 0 - 123,250
Term auction credit 237,621 - 13 + 87,621
Other loans 109,888 + 751 + 92,511
Net portfolio holdings of Commercial Paper
Funding Facility LLC (6) 67,300 - 42,546 + 67,300
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) 25,870 - 186 - 3,229
Net portfolio holdings of Maiden Lane II LLC (9) 15,144 - 616 + 15,144
Net portfolio holdings of
Maiden Lane III LLC (10) 21,137 + 2,300 + 21,137
Items in process of collection (419) 230 - 208 - 575
Bank premises 2,215 + 4 + 54
Central bank liquidity swaps (11) 87,738 - 1,844 + 25,738
Other assets (12) 76,218 + 185 + 34,747
Total assets (419) 2,003,053 - 38,428 +1,083,061
Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table.
9. 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 Jul 29, 2009 Jul 22, 2009 Jul 30, 2008
Liabilities
Federal Reserve notes, net of F.R. Bank holdings 870,575 + 1,347 + 75,012
Reverse repurchase agreements (13) 66,010 - 823 + 21,547
Deposits (0) 1,007,573 - 38,746 + 974,156
Depository institutions 747,124 - 34,265 + 718,412
U.S. Treasury, general account 57,825 - 3,776 + 53,554
U.S. Treasury, supplementary financing account 199,936 0 + 199,936
Foreign official 2,178 + 294 + 2,077
Other (0) 511 - 998 + 178
Deferred availability cash items (419) 2,602 + 115 - 134
Other liabilities and accrued dividends (14) 6,725 + 248 + 3,294
Total liabilities (419) 1,953,486 - 37,858 +1,073,877
Capital accounts
Capital paid in 24,522 + 6 + 4,585
Surplus 21,297 + 8 + 2,796
Other capital accounts 3,749 - 582 + 1,803
Total capital 49,567 - 570 + 9,184
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 7 and the note on consolidation accompanying table 10.
7. Refer to table 8 and the note on consolidation accompanying table 10.
8. Refer to table 4 and the note on consolidation accompanying table 10.
9. Refer to table 5 and the note on consolidation accompanying table 10.
10. Refer to table 6 and the note on consolidation accompanying table 10.
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 4 through table 8 and the note on consolidation accompanying table 10.
10. Statement of Condition of Each Federal Reserve Bank, July 29, 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 11,037 412 3,895 450 467 882 1,356 911 329 197 335 621 1,182
Special drawing rights certificate acct. 2,200 115 874 83 104 147 166 212 71 30 66 98 234
Coin 1,895 63 75 158 157 244 229 232 42 61 134 195 305
Securities, repurchase agreements, term
auction credit, and other loans 1,692,070 37,096 810,631 28,941 59,886 52,295 165,467 150,333 55,043 22,829 62,763 67,235 179,550
Securities held outright (1) 1,344,561 25,793 525,556 20,860 53,121 48,454 162,001 145,496 52,675 22,260 60,692 65,011 162,642
U.S. Treasury securities 695,758 13,347 271,955 10,794 27,488 25,073 83,829 75,289 27,257 11,519 31,406 33,641 84,161
Bills (2) 18,423 353 7,201 286 728 664 2,220 1,994 722 305 832 891 2,228
Notes and bonds (3) 677,335 12,993 264,754 10,508 26,760 24,409 81,610 73,295 26,535 11,214 30,574 32,750 81,933
Federal agency debt securities (2) 105,915 2,032 41,400 1,643 4,184 3,817 12,761 11,461 4,149 1,753 4,781 5,121 12,812
Mortgage-backed securities (4) 542,888 10,414 212,201 8,422 21,448 19,564 65,410 58,746 21,268 8,988 24,505 26,249 65,669
Repurchase agreements (5) 0 0 0 0 0 0 0 0 0 0 0 0 0
Term auction credit 237,621 10,317 179,566 8,027 6,765 3,399 3,245 3,575 2,260 378 2,063 2,211 15,816
Other loans 109,888 986 105,510 55 0 442 221 1,262 109 192 7 12 1,092
Net portfolio holdings of Commercial
Paper Funding Facility LLC (6) 67,300 0 67,300 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) 25,870 0 25,870 0 0 0 0 0 0 0 0 0 0
Net portfolio holdings of Maiden
Lane II LLC (9) 15,144 0 15,144 0 0 0 0 0 0 0 0 0 0
Net portfolio holdings of Maiden
Lane III LLC (10) 21,137 0 21,137 0 0 0 0 0 0 0 0 0 0
Items in process of collection 649 36 -1 86 3 43 185 65 51 43 41 50 46
Bank premises 2,215 121 231 68 147 238 222 209 135 112 270 248 213
Central bank liquidity swaps (11) 87,738 3,538 22,918 9,701 6,504 25,060 6,754 2,948 879 1,359 871 1,135 6,071
Other assets (12) 76,218 2,014 26,633 3,583 3,856 9,028 8,047 6,303 2,260 1,254 2,555 2,808 7,878
Interdistrict settlement account 0 + 12,861 - 9,878 + 12,377 - 5,226 + 162,309 - 34,086 - 52,449 - 23,671 - 3,546 - 21,947 - 6,569 - 30,176
Total assets 2,003,472 56,255 984,829 55,448 65,898 250,245 148,340 108,763 35,140 22,339 45,088 65,823 165,304
Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table.
10. Statement of Condition of Each Federal Reserve Bank, July 29, 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 1,056,278 35,786 381,682 39,914 45,094 83,301 132,148 86,245 31,000 19,808 28,977 62,264 110,059
Less: Notes held by F.R. Banks 185,703 4,931 56,918 6,891 8,304 12,872 26,920 13,513 4,357 3,302 3,459 18,380 25,855
Federal Reserve notes, net 870,575 30,855 324,763 33,023 36,790 70,429 105,228 72,732 26,643 16,505 25,518 43,884 84,203
Reverse repurchase agreements (13) 66,010 1,266 25,802 1,024 2,608 2,379 7,953 7,143 2,586 1,093 2,980 3,192 7,985
Deposits 1,007,573 22,052 615,706 15,745 22,650 163,441 31,059 26,505 5,097 3,079 15,787 17,622 68,830
Depository institutions 747,124 22,047 355,528 15,741 22,646 163,220 31,049 26,501 5,082 3,078 15,786 17,621 68,825
U.S. Treasury, general account 57,825 0 57,825 0 0 0 0 0 0 0 0 0 0
U.S. Treasury, supplementary
financing account 199,936 0 199,936 0 0 0 0 0 0 0 0 0 0
Foreign official 2,178 2 2,148 4 3 11 3 1 0 1 0 1 3
Other 511 3 269 0 1 210 7 3 15 0 1 0 2
Deferred availability cash items 3,021 97 0 387 351 118 340 284 112 320 167 307 538
Other liabilities and accrued
dividends (14) 6,725 141 3,651 150 220 431 509 431 198 121 184 234 456
Total liabilities 1,953,905 54,411 969,921 50,329 62,619 236,798 145,089 107,096 34,636 21,117 44,636 65,239 162,013
Capital
Capital paid in 24,522 921 7,247 2,607 1,635 6,809 1,562 793 238 621 208 274 1,607
Surplus 21,297 844 5,827 2,316 1,552 5,981 1,612 704 209 324 208 271 1,449
Other capital 3,749 79 1,834 196 92 657 77 170 57 277 36 39 235
Total liabilities and capital 2,003,472 56,255 984,829 55,448 65,898 250,245 148,340 108,763 35,140 22,339 45,088 65,823 165,304
Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table.
10. Statement of Condition of Each Federal Reserve Bank, July 29, 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 7 and the note on consolidation below.
7. Refer to table 8 and the note on consolidation below.
8. Refer to table 4 and the note on consolidation below.
9. Refer to table 5 and the note on consolidation below.
10. Refer to table 6 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 4 through
table 8 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 9), 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 9).
11. Collateral Held against Federal Reserve Notes: Federal Reserve Agents' Accounts
Millions of dollars
Federal Reserve notes and collateral Wednesday
Jul 29, 2009
Federal Reserve notes outstanding 1,056,278
Less: Notes held by F.R. Banks not subject to collateralization 185,703
Federal Reserve notes to be collateralized 870,575
Collateral held against Federal Reserve notes 870,575
Gold certificate account 11,037
Special drawing rights certificate account 2,200
U.S. Treasury, agency debt, and mortgage-backed securities pledged (1,2) 857,338
Other assets pledged 0
Memo:
Total U.S. Treasury, agency debt, and mortgage-backed securities (1,2) 1,344,561
Less: Face value of securities under reverse repurchase agreements 65,656
U.S. Treasury, agency debt, and mortgage-backed securities
eligible to be pledged 1,278,905
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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