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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
December 30, 2010
1. Factors Affecting Reserve Balances of Depository Institutions
Millions of dollars
Reserve Bank credit, related items, and Averages of daily figures Wednesday
reserve balances of depository institutions at Week ended Change from week ended Dec 29, 2010
Federal Reserve Banks Dec 29, 2010 Dec 22, 2010 Dec 30, 2009
Reserve Bank credit 2,407,735 + 19,239 + 190,406 2,403,418
Securities held outright (1) 2,159,177 + 16,457 + 313,140 2,155,703
U.S. Treasury securities 1,010,285 + 23,740 + 233,702 1,016,102
Bills (2) 18,423 0 0 18,423
Notes and bonds, nominal (2) 937,566 + 22,251 + 229,917 943,377
Notes and bonds, inflation-indexed (2) 48,125 + 1,388 + 3,482 48,125
Inflation compensation (3) 6,172 + 102 + 303 6,178
Federal agency debt securities (2) 147,460 - 61 - 12,419 147,460
Mortgage-backed securities (4) 1,001,432 - 7,222 + 91,857 992,141
Repurchase agreements (5) 0 0 0 0
Term auction credit 0 0 - 75,918 0
Other loans 45,112 - 459 - 43,021 45,084
Primary credit 52 + 24 - 18,691 58
Secondary credit 15 + 15 - 941 17
Seasonal credit 24 - 4 - 15 23
Credit extended to American International
Group, Inc., net (6) 20,278 - 347 - 493 20,282
Term Asset-Backed Securities Loan Facility (7) 24,743 - 147 - 22,881 24,704
Other credit extensions 0 0 0 0
Net portfolio holdings of Commercial Paper
Funding Facility LLC (8) 0 0 - 14,061 0
Net portfolio holdings of Maiden Lane LLC (9) 26,935 + 19 + 338 26,974
Net portfolio holdings of Maiden Lane II LLC (10) 16,157 + 12 + 559 16,197
Net portfolio holdings of Maiden Lane III LLC (11) 23,131 + 9 + 480 23,142
Net portfolio holdings of TALF LLC (12) 665 + 12 + 367 665
Preferred interests in AIA Aurora LLC and ALICO
Holdings LLC (13) 26,057 0 + 1,057 26,057
Float -1,412 + 182 + 410 -1,624
Central bank liquidity swaps (14) 75 0 - 10,197 75
Other Federal Reserve assets (15) 111,838 + 3,007 + 17,251 111,146
Gold stock 11,041 0 0 11,041
Special drawing rights certificate account 5,200 0 0 5,200
Treasury currency outstanding (16) 43,567 + 14 + 877 43,567
Total factors supplying reserve funds 2,467,544 + 19,254 + 191,284 2,463,227
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 Wednesday
reserve balances of depository institutions at Week ended Change from week ended Dec 29, 2010
Federal Reserve Banks Dec 29, 2010 Dec 22, 2010 Dec 30, 2009
Currency in circulation (16) 983,700 + 3,212 + 54,161 984,980
Reverse repurchase agreements (17) 55,763 + 4,507 - 9,951 59,246
Foreign official and international accounts 55,763 + 4,507 - 9,951 59,246
Others 0 0 0 0
Treasury cash holdings 184 + 6 - 49 177
Deposits with F.R. Banks, other than reserve balances 300,234 - 3,282 + 153,054 300,388
Term deposits held by depository institutions 5,113 0 + 5,113 5,113
U.S. Treasury, general account 87,472 - 4,007 - 31,051 88,905
U.S. Treasury, supplementary financing account 199,963 + 2 + 188,535 199,963
Foreign official 4,149 - 60 + 1,809 3,670
Service-related 2,359 0 - 666 2,359
Required clearing balances 2,359 0 - 666 2,359
Adjustments to compensate for float 0 0 0 0
Other 1,179 + 784 - 10,684 378
Funds from American International Group, Inc. asset
dispositions, held as agent (18) 26,896 + 58 + 26,896 26,896
Other liabilities and capital (19) 73,457 + 285 + 6,623 72,962
Total factors, other than reserve balances,
absorbing reserve funds 1,440,235 + 4,786 + 230,735 1,444,649
Reserve balances with Federal Reserve Banks 1,027,309 + 14,468 - 39,451 1,018,578
Note: Components may not sum to totals because of rounding.
1. Includes securities lent to dealers under the overnight securities lending facility; 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 outstanding principal and capitalized interest net of unamortized deferred commitment fees and
allowance for loan restructuring. Excludes credit extended to consolidated LLCs.
7. Includes credit extended by the Federal Reserve Bank of New York to eligible borrowers through the Term
Asset-Backed Securities Loan Facility.
8. Includes the book value of the commercial paper, net of amortized costs and related fees, and other
investments held by the Commercial Paper Funding Facility LLC.
9. Refer to table 4 and the note on consolidation accompanying table 10.
10. Refer to table 5 and the note on consolidation accompanying table 10.
11. Refer to table 6 and the note on consolidation accompanying table 10.
12. Refer to table 7 and the note on consolidation accompanying table 10.
13. Refer to table 8.
14. 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.
15. Includes other assets denominated in foreign currencies, which are revalued daily at market exchange
rates, accrued dividends on the Federal Reserve Bank of New York's (FRBNY) preferred interests in AIA
Aurora LLC and ALICO Holdings LLC, and the fair value adjustment to credit extended by the FRBNY to
eligible borrowers through the Term Asset-Backed Securities Loan Facility.
16. Estimated.
17. Cash value of agreements, which are collateralized by U.S. Treasury securities, federal agency debt
securities, and mortgage-backed securities.
18. Pending the closing of the recapitalization plan announced by American International Group, Inc. (AIG) on
September 30, 2010, the cash proceeds from the disposition of certain AIG assets will be held by the
FRBNY as agent. At the closing of the recapitalization plan, the proceeds will be used first to repay in
full the credit extended to AIG by the FRBNY under the revolving credit facility and then to retire a
portion of the FRBNY's preferred interests in AIA Aurora LLC and ALICO Holdings LLC (preferred
interests). Alternatively, if the recapitalization plan is terminated under the terms of the plan, then
the proceeds from the initial public offering of AIA and the sale of ALICO will be used to redeem the
preferred interests in accordance with the AIA Aurora LLC and ALICO Holdings LLC limited liability
company agreements, and any excess proceeds from these transactions, as well as proceeds from the
disposition of other assets, will be used to repay the credit extended to AIG under the revolving credit
facility.
19. Includes the liabilities of Maiden Lane LLC, Maiden Lane II LLC, Maiden Lane III LLC, and TALF 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 7 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 Wednesday
Week ended Change from week ended Dec 29, 2010
Memorandum item Dec 29, 2010 Dec 22, 2010 Dec 30, 2009
Marketable securities held in custody for foreign
official and international accounts (1) 3,350,325 - 741 + 395,031 3,351,408
U.S. Treasury securities 2,616,387 - 3,978 + 430,104 2,617,917
Federal agency securities (2) 733,938 + 3,237 - 35,074 733,491
Securities lent to dealers 10,630 + 669 + 1,316 14,930
Overnight facility (3) 10,630 + 669 + 1,316 14,930
U.S. Treasury securities 9,381 + 625 + 832 13,450
Federal agency debt securities 1,249 + 44 + 485 1,480
Note: Components may not sum to totals because of rounding.
1. Face value of the securities. Includes U.S. Treasury STRIPS and other zero-coupon bonds at face value and
mortgage-backed securities at original face value.
2. Includes debt and mortgage-backed securities.
3. Fully collateralized by U.S. Treasury securities.
2. Maturity Distribution of Securities, Loans, and Selected Other Assets and Liabilities, December 29, 2010
Millions of dollars
Within 15 16 days to 91 days to Over 1 year Over 5 years Over 10 All
Remaining maturity days 90 days 1 year to 5 years to 10 years years
Other loans (1) 98 0 0 44,986 0 ... 45,084
U.S. Treasury securities (2)
Holdings 19,603 15,044 55,980 433,903 332,500 159,070 1,016,102
Weekly changes + 2,156 - 2,156 + 1 + 6,783 + 4 + 2,076 + 8,865
Federal agency debt securities (3)
Holdings 1,129 13,836 28,501 71,050 30,597 2,347 147,460
Weekly changes + 1,129 + 6,370 - 6,797 - 702 0 0 0
Mortgage-backed securities (4)
Holdings 0 0 0 24 20 992,097 992,141
Weekly changes 0 0 0 - 1 - 1 - 16,258 - 16,259
Asset-backed securities held by
TALF LLC (5) 0 0 0 0 0 0 0
Repurchase agreements (6) 0 0 ... ... ... ... 0
Central bank liquidity swaps (7) 75 0 0 0 0 0 75
Reverse repurchase agreements (6) 59,246 0 ... ... ... ... 59,246
Term deposits 5,113 0 0 ... ... ... 5,113
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 Maiden Lane LLC, Maiden Lane II LLC, Maiden Lane III
LLC, and TALF 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 asset-backed securities held by TALF LLC, which is the remaining principal balance of the underlying assets.
6. Cash value of agreements.
7. 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 Dec 29, 2010
Mortgage-backed securities held outright (1) 992,141
Commitments to buy mortgage-backed securities (2) 0
Commitments to sell mortgage-backed securities (2) 0
Cash and cash equivalents (3) 0
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, dollar rolls,
and coupon swaps.
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 Dec 29, 2010
Net portfolio holdings of Maiden Lane LLC (1) 26,974
Outstanding principal amount of loan extended by the Federal Reserve Bank of New York (2) 25,228
Accrued interest payable to the Federal Reserve Bank of New York (2) 617
Outstanding principal amount and accrued interest on loan payable to JPMorgan Chase & Co. (3) 1,314
1. Fair value. Fair value reflects an estimate of the price that would be received upon selling an asset if the transaction were to
be conducted in an orderly market on the measurement date. Revalued quarterly. This table reflects valuations as of
September 30, 2010. 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 Dec 29, 2010
Net portfolio holdings of Maiden Lane II LLC (1) 16,197
Outstanding principal amount of loan extended by the Federal Reserve Bank of New York (2) 13,034
Accrued interest payable to the Federal Reserve Bank of New York (2) 450
Deferred payment and accrued interest payable to subsidiaries of American International Group, Inc. (3) 1,071
1. Fair value. Fair value reflects an estimate of the price that would be received upon selling an asset if the transaction were to
be conducted in an orderly market on the measurement date. Revalued quarterly. This table reflects valuations as of
September 30, 2010. 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 Dec 29, 2010
Net portfolio holdings of Maiden Lane III LLC (1) 23,142
Outstanding principal amount of loan extended by the Federal Reserve Bank of New York (2) 13,526
Accrued interest payable to the Federal Reserve Bank of New York (2) 545
Outstanding principal amount and accrued interest on loan payable to American International Group, Inc. (3) 5,365
1. Fair value. Fair value reflects an estimate of the price that would be received upon selling an asset if the transaction were to
be conducted in an orderly market on the measurement date. Revalued quarterly. This table reflects valuations as of
September 30, 2010. 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 TALF LLC
Millions of dollars
Wednesday
Account name Dec 29, 2010
Asset-backed securities holdings (1) 0
Other investments, net 665
Net portfolio holdings of TALF LLC 665
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
Funding provided by U.S. Treasury to TALF LLC, including accrued interest payable (3) 106
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.
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 announced the creation of the Term Asset-Backed Securities Loan Facility (TALF)
under the authority of section 13(3) of the Federal Reserve Act. The TALF is a facility under which the Federal Reserve Bank of New
York (FRBNY) extends loans with a term of up to five years to holders of eligible asset-backed securities. The TALF is intended to
assist financial markets in accommodating the credit needs of consumers and businesses by facilitating the issuance of asset-backed
securities collateralized by a variety of consumer and business loans. The loans provided through the TALF to eligible borrowers are
non-recourse, meaning that the obligation of the borrower can be discharged by surrendering the collateral to the FRBNY. The loans
are extended for the market value of the security less an amount known as a haircut. As a result, the borrower bears the initial
risk of a decline in the value of the security.
TALF LLC is a limited liability company formed to purchase and manage any asset-backed securities received by the FRBNY in
connection with the decision of a borrower not to repay a TALF loan. TALF LLC has committed, for a fee, to purchase all asset-backed
securities received by the FRBNY in conjunction with a TALF loan at a price equal to the TALF loan plus accrued but unpaid interest.
Losses on asset-backed securities held by TALF LLC will be offset in the following order: by the commitment fees collected by TALF
LLC, by the interest received on investments of TALF LLC, by up to $4.3 billion in subordinated debt funding provided by the U.S.
Treasury, and finally, by senior debt funding provided by the FRBNY. Payments by TALF LLC from the proceeds of its net portfolio
holdings will be made in the following order: operating expenses of TALF LLC, principal due to the FRBNY, principal due to the U.S.
Treasury, interest due to the FRBNY, and interest due to the U.S. Treasury. Any remaining funds will be shared by the FRBNY and the
U.S. Treasury.
8. Supplemental Information on the Federal Reserve Bank of New York's Preferred Interests in
AIA Aurora LLC and ALICO Holdings LLC
Millions of dollars
Wednesday
Account name Dec 29, 2010
Preferred interests in AIA Aurora LLC and ALICO Holdings LLC (1) 26,057
Accrued dividends on preferred interests in AIA Aurora LLC and ALICO Holdings LLC (2) 321
Preferred interests in AIA Aurora LLC (1) 16,676
Accrued dividends on preferred interests in AIA Aurora LLC (2) 206
Preferred interests in ALICO Holdings LLC (1) 9,380
Accrued dividends on preferred interests in ALICO Holdings LLC (2) 116
Note: Components may not sum to totals because of rounding.
1. Book value.
2. This amount is included in other Federal Reserve assets in table 1 and in other assets in table 9 and table 10.
Note on preferred interests:
In conjunction with the restructuring of the government's assistance to American International Group, Inc. (AIG) announced March 2,
2009, the outstanding balance and amount available of revolving credit provided to AIG by the FRBNY has been reduced in exchange for
preferred interests in two special purpose vehicles, AIA Aurora LLC and ALICO Holdings LLC. These two limited liability companies
were created to directly or indirectly hold all of the outstanding common stock of American International Assurance Company Ltd.
(AIA) and American Life Insurance Company (ALICO), two life insurance subsidiaries of AIG. AIG will retain control of AIA Aurora LLC
and ALICO Holdings LLC, and the FRBNY will have certain consent, disposition, and conversion rights with respect to its preferred
interests.
Dividends accrue as a percentage of the FRBNY's preferred interests in AIA Aurora LLC and ALICO Holdings LLC. On a quarterly basis,
the accrued dividends are capitalized and added to the FRBNY's preferred interests in AIA Aurora LLC and ALICO Holdings LLC.
9. Consolidated Statement of Condition of All Federal Reserve Banks
Millions of dollars
Eliminations from Wednesday Change since
consolidation Dec 29, 2010 Wednesday Wednesday
Assets, liabilities, and capital Dec 22, 2010 Dec 30, 2009
Assets
Gold certificate account 11,037 0 0
Special drawing rights certificate account 5,200 0 0
Coin 2,164 + 16 + 117
Securities, repurchase agreements, term auction
credit, and other loans 2,200,787 - 7,411 + 190,448
Securities held outright (1) 2,155,703 - 7,394 + 310,981
U.S. Treasury securities 1,016,102 + 8,865 + 239,515
Bills (2) 18,423 0 0
Notes and bonds, nominal (2) 943,377 + 8,850 + 235,728
Notes and bonds, inflation-indexed (2) 48,125 0 + 3,482
Inflation compensation (3) 6,178 + 16 + 305
Federal agency debt securities (2) 147,460 0 - 12,419
Mortgage-backed securities (4) 992,141 - 16,259 + 83,884
Repurchase agreements (5) 0 0 0
Term auction credit 0 0 - 75,918
Other loans 45,084 - 17 - 44,615
Net portfolio holdings of Commercial Paper
Funding Facility LLC (6) 0 0 - 14,072
Net portfolio holdings of Maiden Lane LLC (7) 26,974 + 45 + 307
Net portfolio holdings of Maiden Lane II LLC (8) 16,197 + 46 + 500
Net portfolio holdings of Maiden Lane III LLC (9) 23,142 + 13 + 482
Net portfolio holdings of TALF LLC (10) 665 0 + 367
Preferred interests in AIA Aurora LLC and ALICO
Holdings LLC (11) 26,057 0 + 1,057
Items in process of collection (104) 225 - 272 - 52
Bank premises 2,229 + 3 - 20
Central bank liquidity swaps (12) 75 0 - 10,197
Other assets (13) 108,707 + 247 + 17,264
Total assets (104) 2,423,457 - 7,315 + 186,199
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 from Wednesday Change since
consolidation Dec 29, 2010 Wednesday Wednesday
Assets, liabilities, and capital Dec 22, 2010 Dec 30, 2009
Liabilities
Federal Reserve notes, net of F.R. Bank holdings 943,749 + 1,327 + 54,071
Reverse repurchase agreements (14) 59,246 + 8,112 - 11,204
Deposits (0) 1,318,755 - 16,758 + 109,620
Term deposits held by depository institutions 5,113 0 + 5,113
Other deposits held by depository institutions 1,020,726 - 14,798 - 4,545
U.S. Treasury, general account 88,905 - 1,008 - 60,914
U.S. Treasury, supplementary financing account 199,963 + 2 + 194,962
Foreign official 3,670 - 911 + 1,401
Other (0) 378 - 43 - 26,396
Deferred availability cash items (104) 1,850 - 367 - 383
Other liabilities and accrued dividends (15) 43,256 + 177 + 29,614
Total liabilities (104) 2,366,855 - 7,510 + 181,716
Capital accounts
Capital paid in 26,525 + 51 + 880
Surplus 25,951 + 6 + 4,469
Other capital accounts 4,126 + 138 - 867
Total capital 56,602 + 195 + 4,483
Note: Components may not sum to totals because of rounding.
1. Includes securities lent to dealers under the overnight securities lending facility; 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. Includes the book value of the commercial paper, net of amortized costs and related fees, and other
investments held by the Commercial Paper Funding Facility LLC.
7. Refer to table 4 and the note on consolidation accompanying table 10.
8. Refer to table 5 and the note on consolidation accompanying table 10.
9. Refer to table 6 and the note on consolidation accompanying table 10.
10. Refer to table 7 and the note on consolidation accompanying table 10.
11. Refer to table 8.
12. 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.
13. Includes other assets denominated in foreign currencies, which are revalued daily at market exchange rates,
accrued dividends on the Federal Reserve Bank of New York's (FRBNY) preferred interests in AIA Aurora LLC
and ALICO Holdings LLC, and the fair value adjustment to credit extended by the FRBNY to eligible borrowers
through the Term Asset-Backed Securities Loan Facility.
14. Cash value of agreements, which are collateralized by U.S. Treasury securities, federal agency debt
securities, and mortgage-backed securities.
15. Includes the liabilities of Maiden Lane LLC, Maiden Lane II LLC, Maiden Lane III LLC, and TALF 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 7 and the note on consolidation
accompanying table 10. Also includes funds from American International Group, Inc. asset dispositions, held
as agent.
10. Statement of Condition of Each Federal Reserve Bank, December 29, 2010
Millions of dollars
Total Boston New York Philadelphia Cleveland Richmond Atlanta Chicago St. Louis Minneapolis Kansas Dallas San
Assets, liabilities, and capital City Francisco
Assets
Gold certificate account 11,037 369 4,038 404 463 846 1,385 887 324 203 296 652 1,170
Special drawing rights certificate acct. 5,200 196 1,818 210 237 412 654 424 150 90 153 282 574
Coin 2,164 47 68 172 162 352 187 335 35 59 159 236 353
Securities, repurchase agreements,
term auction credit, and other
loans 2,200,787 54,554 924,629 50,359 73,242 245,523 203,991 162,529 55,537 29,529 73,959 90,520 236,416
Securities held outright (1) 2,155,703 54,554 879,641 50,342 73,242 245,511 203,989 162,511 55,527 29,511 73,949 90,519 236,408
U.S. Treasury securities 1,016,102 25,714 414,623 23,729 34,523 115,723 96,151 76,600 26,173 13,910 34,856 42,667 111,432
Bills (2) 18,423 466 7,517 430 626 2,098 1,743 1,389 475 252 632 774 2,020
Notes and bonds (3) 997,679 25,248 407,106 23,299 33,897 113,625 94,408 75,211 25,698 13,658 34,224 41,893 109,412
Federal agency debt securities (2) 147,460 3,732 60,171 3,444 5,010 16,794 13,954 11,116 3,798 2,019 5,058 6,192 16,171
Mortgage-backed securities (4) 992,141 25,108 404,846 23,169 33,709 112,994 93,884 74,794 25,556 13,582 34,034 41,660 108,804
Repurchase agreements (5) 0 0 0 0 0 0 0 0 0 0 0 0 0
Term auction credit 0 0 0 0 0 0 0 0 0 0 0 0 0
Other loans 45,084 0 44,988 17 0 12 2 18 10 18 10 1 8
Net portfolio holdings of Commercial
Paper Funding Facility LLC (6) 0 0 0 0 0 0 0 0 0 0 0 0 0
Net portfolio holdings of Maiden
Lane LLC (7) 26,974 0 26,974 0 0 0 0 0 0 0 0 0 0
Net portfolio holdings of Maiden
Lane II LLC (8) 16,197 0 16,197 0 0 0 0 0 0 0 0 0 0
Net portfolio holdings of Maiden
Lane III LLC (9) 23,142 0 23,142 0 0 0 0 0 0 0 0 0 0
Net portfolio holdings of TALF LLC (10) 665 0 665 0 0 0 0 0 0 0 0 0 0
Preferred interests in AIA Aurora LLC
and ALICO Holdings LLC (11) 26,057 0 26,057 0 0 0 0 0 0 0 0 0 0
Items in process of collection 329 6 0 54 93 6 29 33 14 29 27 21 19
Bank premises 2,229 126 257 68 141 239 218 210 136 107 265 248 214
Central bank liquidity swaps (12) 75 3 22 8 6 21 5 2 1 2 1 1 5
Other assets (13) 108,707 3,061 41,537 4,764 4,726 16,595 9,382 6,802 2,376 1,872 3,039 3,830 10,721
Interdistrict settlement account 0 - 3,413 + 210,577 + 14,435 - 23,202 - 20,632 - 47,683 - 35,363 - 17,670 - 7,541 - 17,921 - 4,174 - 47,412
Total assets 2,423,562 54,949 1,275,980 70,474 55,867 243,362 168,167 135,859 40,902 24,350 59,978 91,615 202,059
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, December 29, 2010 (continued)
Millions of dollars
Total Boston New York Philadelphia Cleveland Richmond Atlanta Chicago St. Louis Minneapolis Kansas Dallas San
Assets, liabilities, and capital City Francisco
Liabilities
Federal Reserve notes outstanding 1,122,842 41,168 383,870 45,539 45,933 90,128 142,128 86,476 32,371 19,938 33,224 76,012 126,055
Less: Notes held by F.R. Banks 179,094 4,669 64,682 4,827 7,108 12,735 21,139 11,868 4,268 5,755 3,478 11,704 26,861
Federal Reserve notes, net 943,749 36,499 319,189 40,712 38,826 77,393 120,989 74,608 28,103 14,183 29,746 64,309 99,194
Reverse repurchase agreements (14) 59,246 1,499 24,175 1,384 2,013 6,747 5,606 4,466 1,526 811 2,032 2,488 6,497
Deposits 1,318,755 14,778 877,171 22,434 10,510 145,570 37,737 54,791 10,549 7,059 27,404 23,623 87,132
Term deposits held by depository
institutions 5,113 20 1,978 800 15 414 12 17 5 5 14 15 1,818
Other deposits held by depository
institutions 1,020,726 14,752 582,465 21,626 10,491 145,080 37,721 54,754 10,490 7,049 27,388 23,607 85,303
U.S. Treasury, general account 88,905 0 88,905 0 0 0 0 0 0 0 0 0 0
U.S. Treasury, supplementary
financing account 199,963 0 199,963 0 0 0 0 0 0 0 0 0 0
Foreign official 3,670 1 3,642 4 3 11 2 1 0 1 0 1 3
Other 378 4 218 3 1 65 2 19 53 3 1 0 8
Deferred availability cash items 1,954 68 0 250 284 71 90 138 58 487 92 75 341
Other liabilities and accrued
dividends (15) 43,256 204 39,399 264 283 796 516 420 179 149 187 265 594
Total liabilities 2,366,959 53,048 1,259,933 65,043 51,915 230,578 164,938 134,423 40,414 22,688 59,461 90,759 193,758
Capital
Capital paid in 26,525 917 7,682 2,569 1,968 5,439 1,520 673 216 819 239 402 4,082
Surplus 25,951 946 7,744 2,804 1,911 7,142 1,581 621 238 712 210 353 1,689
Other capital 4,126 37 621 57 73 204 128 142 33 132 68 101 2,529
Total liabilities and capital 2,423,562 54,949 1,275,980 70,474 55,867 243,362 168,167 135,859 40,902 24,350 59,978 91,615 202,059
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, December 29, 2010 (continued)
1. Includes securities lent to dealers under the overnight securities lending facility; 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. Includes the book value of the commercial paper, net of amortized costs and related fees, and other investments held by the Commercial Paper Funding Facility LLC.
7. Refer to table 4 and the note on consolidation below.
8. Refer to table 5 and the note on consolidation below.
9. Refer to table 6 and the note on consolidation below.
10. Refer to table 7 and the note on consolidation below.
11. Refer to table 8.
12. 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.
13. Includes other assets denominated in foreign currencies, which are revalued daily at market exchange rates, accrued dividends on the Federal Reserve Bank of New York's (FRBNY) preferred interests
in AIA Aurora LLC and ALICO Holdings LLC, and the fair value adjustment to credit extended by the FRBNY to eligible borrowers through the Term Asset-Backed Securities Loan Facility.
14. Cash value of agreements, which are collateralized by U.S. Treasury securities, federal agency debt securities, and mortgage-backed securities.
15. Includes the liabilities of Maiden Lane LLC, Maiden Lane II LLC, Maiden Lane III LLC, and TALF 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 7 and the note on consolidation below. Also includes funds from American International Group, Inc. asset
dispositions, held as agent.
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 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.
On November 25, 2008, the Federal Reserve Board authorized the FRBNY to extend credit to TALF LLC, which was formed to purchase and manage any asset-backed securities received by the FRBNY in
connection with the decision of a borrower not to repay a loan extended under the Term Asset-Backed Securities Loan Facility.
The FRBNY is the primary beneficiary of TALF LLC, because of the two beneficiaries of the LLC, the FRBNY and the U.S. Treasury, the FRBNY is primarily responsible for directing the financial
activities of TALF LLC. The FRBNY is the primary beneficiary of the other LLCs cited above because it will receive a majority of any residual returns of the LLCs and absorb a majority of any residual
losses of the LLCs. 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
Wednesday
Federal Reserve notes and collateral Dec 29, 2010
Federal Reserve notes outstanding 1,122,842
Less: Notes held by F.R. Banks not subject to collateralization 179,094
Federal Reserve notes to be collateralized 943,749
Collateral held against Federal Reserve notes 943,749
Gold certificate account 11,037
Special drawing rights certificate account 5,200
U.S. Treasury, agency debt, and mortgage-backed securities pledged (1,2) 927,512
Other assets pledged 0
Memo:
Total U.S. Treasury, agency debt, and mortgage-backed securities (1,2) 2,155,703
Less: Face value of securities under reverse repurchase agreements 52,956
U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 2,102,747
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 securities lending facility; refer to table
1A.
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