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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
March 10, 2011
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 Mar 9, 2011
Federal Reserve Banks Mar 9, 2011 Mar 2, 2011 Mar 10, 2010
Reserve Bank credit 2,546,690 + 28,020 + 283,886 2,560,516
Securities held outright (1) 2,345,022 + 26,404 + 373,268 2,358,250
U.S. Treasury securities 1,252,840 + 27,852 + 476,263 1,266,069
Bills (2) 18,423 0 0 18,423
Notes and bonds, nominal (2) 1,172,921 + 26,846 + 464,049 1,185,240
Notes and bonds, inflation-indexed (2) 55,000 + 926 + 11,223 55,857
Inflation compensation (3) 6,497 + 82 + 992 6,549
Federal agency debt securities (2) 143,249 - 124 - 24,476 143,249
Mortgage-backed securities (4) 948,932 - 1,324 - 78,520 948,932
Repurchase agreements (5) 0 0 0 0
Term auction credit 0 0 - 15,425 0
Other loans 20,311 - 223 - 64,840 20,176
Primary credit 8 - 10 - 13,722 12
Secondary credit 0 0 - 757 0
Seasonal credit 8 + 3 - 1 8
Credit extended to American International
Group, Inc., net (6) 0 0 - 24,975 0
Term Asset-Backed Securities Loan Facility (7) 20,295 - 216 - 25,385 20,155
Other credit extensions 0 0 0 0
Net portfolio holdings of Commercial Paper
Funding Facility LLC (8) 0 0 - 7,749 0
Net portfolio holdings of Maiden Lane LLC (9) 26,064 + 19 - 1,197 26,079
Net portfolio holdings of Maiden Lane II LLC (10) 15,890 - 146 + 564 15,891
Net portfolio holdings of Maiden Lane III LLC (11) 22,857 + 33 + 843 22,977
Net portfolio holdings of TALF LLC (12) 703 0 + 331 703
Preferred interests in AIA Aurora LLC and ALICO
Holdings LLC (6) 0 0 - 25,106 0
Float -1,837 - 267 + 51 -1,980
Central bank liquidity swaps (13) 0 - 70 0 0
Other Federal Reserve assets (14) 117,680 + 2,269 + 23,147 118,420
Gold stock 11,041 0 0 11,041
Special drawing rights certificate account 5,200 0 0 5,200
Treasury currency outstanding (15) 43,668 + 14 + 924 43,668
Total factors supplying reserve funds 2,606,598 + 28,033 + 284,809 2,620,425
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 Mar 9, 2011
Federal Reserve Banks Mar 9, 2011 Mar 2, 2011 Mar 10, 2010
Currency in circulation (15) 999,201 + 2,172 + 66,478 1,001,196
Reverse repurchase agreements (16) 56,284 - 4,341 + 1,010 55,947
Foreign official and international accounts 56,284 - 4,341 + 1,010 55,947
Others 0 0 0 0
Treasury cash holdings 196 + 10 - 8 203
Deposits with F.R. Banks, other than reserve balances 118,819 - 36,275 + 26,966 111,613
Term deposits held by depository institutions 5,070 0 + 5,070 5,070
U.S. Treasury, general account 35,841 - 11,217 - 301 28,671
U.S. Treasury, supplementary financing account 74,985 - 24,995 + 24,992 74,985
Foreign official 126 - 52 - 2,549 124
Service-related 2,320 0 - 420 2,320
Required clearing balances 2,320 0 - 420 2,320
Adjustments to compensate for float 0 0 0 0
Other 477 - 10 + 173 443
Funds from American International Group, Inc. asset
dispositions, held as agent (6) 0 0 0 0
Other liabilities and capital (17) 73,316 + 74 + 6,919 72,442
Total factors, other than reserve balances,
absorbing reserve funds 1,247,815 - 38,361 + 101,363 1,241,401
Reserve balances with Federal Reserve Banks 1,358,783 + 66,394 + 183,445 1,379,024
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. As a result of the closing of the American International Group, Inc. (AIG) recapitalization plan on
January 14, 2011, the credit extended to AIG was fully repaid and the Federal Reserve's commitment to lend
any further funds was terminated. In addition, the Federal Reserve Bank of New York (FRBNY) has been paid
in full for its preferred interests in AIA Aurora LLC and ALICO Holdings LLC. The funds from AIG asset
dispositions that FRBNY held as agent were the source of repayment of the credit extended to AIG, as well
as a portion of the FRBNY's preferred interests in ALICO Holdings LLC. The remaining FRBNY preferred
interests in ALICO Holdings LLC and AIA Aurora LLC, valued at approximately $20 billion, were purchased by
AIG through a draw on the Treasury's Series F preferred stock commitment and then transferred by AIG to
the Treasury as consideration for the draw on the available Series F funds.
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 9.
10. Refer to table 5 and the note on consolidation accompanying table 9.
11. Refer to table 6 and the note on consolidation accompanying table 9.
12. Refer to table 7 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, and the fair value adjustment to credit extended by the FRBNY to eligible borrowers through the
Term Asset-Backed Securities Loan Facility. Before the closing of the AIG recapitalization plan on
January 14, 2011, included accrued dividends on the FRBNY's preferred interests in AIA Aurora LLC and
ALICO Holdings LLC.
15. Estimated.
16. Cash value of agreements, which are collateralized by U.S. Treasury securities, federal agency debt
securities, and mortgage-backed securities.
17. 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 9. Also includes the liability for interest on Federal Reserve notes due to U.S.
Treasury. Refer to table 8 and table 9.
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 Mar 9, 2011
Memorandum item Mar 9, 2011 Mar 2, 2011 Mar 10, 2010
Marketable securities held in custody for foreign
official and international accounts (1) 3,396,735 + 12,285 + 414,956 3,397,644
U.S. Treasury securities 2,636,354 + 12,728 + 425,447 2,638,397
Federal agency securities (2) 760,381 - 443 - 10,491 759,247
Securities lent to dealers 16,986 + 2,851 + 11,647 16,295
Overnight facility (3) 16,986 + 2,851 + 11,647 16,295
U.S. Treasury securities 16,195 + 3,342 + 11,615 15,622
Federal agency debt securities 791 - 491 + 32 673
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, March 9, 2011
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) 12 8 0 20,155 0 ... 20,176
U.S. Treasury securities (2)
Holdings 16,005 26,086 57,572 538,702 452,158 175,546 1,266,069
Weekly changes + 3,867 - 3,864 0 + 13,479 + 16,049 + 279 + 29,811
Federal agency debt securities (3)
Holdings 10,754 13,402 19,290 68,485 28,971 2,347 143,249
Weekly changes + 7,499 - 7,499 + 1,014 - 1,014 0 0 0
Mortgage-backed securities (4)
Holdings 0 0 0 21 24 948,887 948,932
Weekly changes 0 0 0 0 + 3 - 2 0
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) 0 0 0 0 0 0 0
Reverse repurchase agreements (6) 55,947 0 ... ... ... ... 55,947
Term deposits 5,070 0 0 ... ... ... 5,070
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 Mar 9, 2011
Mortgage-backed securities held outright (1) 948,932
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 8 and table 9.
4. Information on Principal Accounts of Maiden Lane LLC
Millions of dollars
Wednesday
Account name Mar 9, 2011
Net portfolio holdings of Maiden Lane LLC (1) 26,079
Outstanding principal amount of loan extended by the Federal Reserve Bank of New York (2) 24,022
Accrued interest payable to the Federal Reserve Bank of New York (2) 653
Outstanding principal amount and accrued interest on loan payable to JPMorgan Chase & Co. (3) 1,327
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, 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 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.
5. Information on Principal Accounts of Maiden Lane II LLC
Millions of dollars
Wednesday
Account name Mar 9, 2011
Net portfolio holdings of Maiden Lane II LLC (1) 15,891
Outstanding principal amount of loan extended by the Federal Reserve Bank of New York (2) 12,353
Accrued interest payable to the Federal Reserve Bank of New York (2) 482
Deferred payment and accrued interest payable to subsidiaries of American International Group, Inc. (3) 1,078
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, 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 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.
6. Information on Principal Accounts of Maiden Lane III LLC
Millions of dollars
Wednesday
Account name Mar 9, 2011
Net portfolio holdings of Maiden Lane III LLC (1) 22,977
Outstanding principal amount of loan extended by the Federal Reserve Bank of New York (2) 12,434
Accrued interest payable to the Federal Reserve Bank of New York (2) 577
Outstanding principal amount and accrued interest on loan payable to American International Group, Inc. (3) 5,398
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, 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 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.
7. Information on Principal Accounts of TALF LLC
Millions of dollars
Wednesday
Account name Mar 9, 2011
Asset-backed securities holdings (1) 0
Other investments, net 703
Net portfolio holdings of TALF LLC 703
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) 107
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 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 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. Consolidated Statement of Condition of All Federal Reserve Banks
Millions of dollars
Eliminations from Wednesday Change since
consolidation Mar 9, 2011 Wednesday Wednesday
Assets, liabilities, and capital Mar 2, 2011 Mar 10, 2010
Assets
Gold certificate account 11,037 0 0
Special drawing rights certificate account 5,200 0 0
Coin 2,228 - 17 + 95
Securities, repurchase agreements, term auction
credit, and other loans 2,378,426 + 29,606 + 304,437
Securities held outright (1) 2,358,250 + 29,811 + 383,477
U.S. Treasury securities 1,266,069 + 29,811 + 489,478
Bills (2) 18,423 0 0
Notes and bonds, nominal (2) 1,185,240 + 28,196 + 476,368
Notes and bonds, inflation-indexed (2) 55,857 + 1,500 + 12,080
Inflation compensation (3) 6,549 + 115 + 1,030
Federal agency debt securities (2) 143,249 0 - 25,762
Mortgage-backed securities (4) 948,932 0 - 80,240
Repurchase agreements (5) 0 0 0
Term auction credit 0 0 - 15,425
Other loans 20,176 - 205 - 63,615
Net portfolio holdings of Commercial Paper
Funding Facility LLC (6) 0 0 - 7,757
Net portfolio holdings of Maiden Lane LLC (7) 26,079 + 17 - 1,188
Net portfolio holdings of Maiden Lane II LLC (8) 15,891 + 1 + 560
Net portfolio holdings of Maiden Lane III LLC (9) 22,977 + 140 + 859
Net portfolio holdings of TALF LLC (10) 703 0 + 331
Preferred interests in AIA Aurora LLC and ALICO
Holdings LLC (11) 0 0 - 25,106
Items in process of collection (96) 180 - 4 - 119
Bank premises 2,214 + 1 - 24
Central bank liquidity swaps (12) 0 - 70 0
Other assets (13) 116,206 + 2,352 + 23,211
Total assets (96) 2,581,140 + 32,025 + 295,297
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 from Wednesday Change since
consolidation Mar 9, 2011 Wednesday Wednesday
Assets, liabilities, and capital Mar 2, 2011 Mar 10, 2010
Liabilities
Federal Reserve notes, net of F.R. Bank holdings 959,955 + 2,242 + 66,332
Reverse repurchase agreements (14) 55,947 - 6,514 + 44
Deposits (0) 1,490,636 + 36,441 + 223,686
Term deposits held by depository institutions 5,070 0 + 5,070
Other deposits held by depository institutions 1,381,343 + 82,635 + 190,587
U.S. Treasury, general account 28,671 - 20,871 + 5,379
U.S. Treasury, supplementary financing account 74,985 - 24,995 + 24,992
Foreign official 124 - 255 - 2,492
Other (0) 443 - 74 + 148
Deferred availability cash items (96) 2,160 - 52 - 157
Other liabilities and accrued dividends (15) 19,369 - 111 + 5,139
Total liabilities (96) 2,528,067 + 32,006 + 295,043
Capital accounts
Capital paid in 26,536 + 9 + 460
Surplus 26,536 + 9 + 1,147
Other capital accounts 0 0 - 1,353
Total capital 53,073 + 19 + 255
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 9.
8. Refer to table 5 and the note on consolidation accompanying table 9.
9. Refer to table 6 and the note on consolidation accompanying table 9.
10. Refer to table 7 and the note on consolidation accompanying table 9.
11. As a result of the closing of the AIG recapitalization plan on January 14, 2011, the Federal Reserve Bank
of New York has been paid in full for its preferred interests in AIA Aurora LLC and ALICO Holdings LLC. A
portion of the preferred interests was redeemed by AIG with the funds from AIG asset dispositions that were
held as agent by the Federal Reserve.
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
and the fair value adjustment to credit extended by the Federal Reserve Bank of New York (FRBNY) to
eligible borrowers through the Term Asset-Backed Securities Loan Facility. Before the closing of the AIG
recapitalization plan on January 14, 2011, included accrued dividends on the FRBNY's preferred interests in
AIA Aurora LLC and ALICO Holdings LLC.
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 9. Also includes the liability for interest on Federal Reserve notes due to U.S.
Treasury. Before the closing of the AIG recapitalization plan on January 14, 2011, included funds from
American International Group, Inc. asset dispositions, held as agent.
9. Statement of Condition of Each Federal Reserve Bank, March 9, 2011
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 2,228 52 79 177 162 375 177 343 32 60 160 232 376
Securities, repurchase agreements,
term auction credit, and other
loans 2,378,426 59,680 982,456 55,072 80,123 268,579 223,156 177,780 60,744 32,288 80,902 99,024 258,622
Securities held outright (1) 2,358,250 59,679 962,291 55,072 80,123 268,579 223,156 177,780 60,744 32,284 80,898 99,024 258,620
U.S. Treasury securities 1,266,069 32,040 516,623 29,566 43,016 144,192 119,805 95,444 32,612 17,332 43,431 53,163 138,845
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) 1,247,646 31,574 509,106 29,136 42,390 142,093 118,062 94,055 32,137 17,080 42,799 52,389 136,825
Federal agency debt securities (2) 143,249 3,625 58,453 3,345 4,867 16,315 13,555 10,799 3,690 1,961 4,914 6,015 15,710
Mortgage-backed securities (4) 948,932 24,014 387,215 22,160 32,241 108,073 89,795 71,537 24,443 12,991 32,552 39,846 104,066
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 20,176 0 20,165 0 0 0 0 0 0 4 5 0 2
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) 26,079 0 26,079 0 0 0 0 0 0 0 0 0 0
Net portfolio holdings of Maiden
Lane II LLC (8) 15,891 0 15,891 0 0 0 0 0 0 0 0 0 0
Net portfolio holdings of Maiden
Lane III LLC (9) 22,977 0 22,977 0 0 0 0 0 0 0 0 0 0
Net portfolio holdings of TALF LLC (10) 703 0 703 0 0 0 0 0 0 0 0 0 0
Preferred interests in AIA Aurora LLC
and ALICO Holdings LLC (11) 0 0 0 0 0 0 0 0 0 0 0 0 0
Items in process of collection 276 6 0 44 69 10 7 26 9 31 31 22 21
Bank premises 2,214 125 256 68 139 238 218 207 135 107 264 246 212
Central bank liquidity swaps (12) 0 0 0 0 0 0 0 0 0 0 0 0 0
Other assets (13) 116,206 3,206 44,120 4,795 5,011 15,697 10,007 7,401 2,537 2,075 3,315 4,178 13,865
Interdistrict settlement account 0 - 12,530 + 200,236 + 49,485 - 18,805 - 21,773 - 61,785 - 39,932 - 21,451 - 3,623 - 25,189 - 6,781 - 37,852
Total assets 2,581,236 51,104 1,298,653 110,254 67,399 264,383 173,818 147,136 42,480 31,231 59,933 97,855 236,988
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 9, 2011 (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 1,115,906 42,719 378,846 46,123 46,313 90,061 140,384 85,234 32,029 19,630 32,731 75,856 125,979
Less: Notes held by F.R. Banks 155,951 4,678 45,097 5,123 7,763 12,087 21,647 12,031 3,984 5,183 3,201 11,174 23,984
Federal Reserve notes, net 959,955 38,042 333,750 41,000 38,549 77,974 118,737 73,204 28,046 14,447 29,529 64,683 101,995
Reverse repurchase agreements (14) 55,947 1,416 22,829 1,307 1,901 6,372 5,294 4,218 1,441 766 1,919 2,349 6,136
Deposits 1,490,636 9,493 912,283 62,250 22,333 168,113 45,913 67,639 12,247 13,729 27,565 29,576 119,495
Term deposits held by depository
institutions 5,070 14 2,651 800 10 515 0 293 50 16 3 0 719
Other deposits held by depository
institutions 1,381,343 9,468 805,655 61,446 22,320 167,505 45,911 67,312 12,142 13,709 27,560 29,575 118,739
U.S. Treasury, general account 28,671 0 28,671 0 0 0 0 0 0 0 0 0 0
U.S. Treasury, supplementary
financing account 74,985 0 74,985 0 0 0 0 0 0 0 0 0 0
Foreign official 124 1 96 4 3 8 2 1 0 1 0 1 6
Other 443 10 225 1 0 84 0 33 55 3 1 0 31
Deferred availability cash items 2,256 77 0 286 332 104 128 131 64 484 139 109 401
Interest on Federal Reserve notes due
to U.S. Treasury (15) 1,412 34 636 15 41 139 137 109 38 15 52 61 134
Other liabilities and accrued
dividends (16) 17,957 209 13,756 245 307 806 599 500 209 151 219 301 655
Total liabilities 2,528,163 49,270 1,283,255 105,102 63,463 253,508 170,809 145,801 42,045 29,592 59,423 97,079 228,816
Capital
Capital paid in 26,536 917 7,699 2,576 1,968 5,438 1,505 668 218 820 255 388 4,086
Surplus 26,536 917 7,699 2,576 1,968 5,438 1,505 668 218 820 255 388 4,086
Other capital 0 0 0 0 0 0 0 0 0 0 0 0 0
Total liabilities and capital 2,581,236 51,104 1,298,653 110,254 67,399 264,383 173,818 147,136 42,480 31,231 59,933 97,855 236,988
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 9, 2011 (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. As a result of the closing of the AIG recapitalization plan on January 14, 2011, the Federal Reserve Bank of New York has been paid in full for its preferred interests in AIA Aurora LLC and ALICO
Holdings LLC. A portion of the preferred interests was redeemed by AIG with the funds from AIG asset dispositions that were held as agent by the Federal Reserve.
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 and the fair value adjustment to credit extended by the Federal Reserve Bank of New York
(FRBNY) to eligible borrowers through the Term Asset-Backed Securities Loan Facility. Before the closing of the AIG recapitalization plan on January 14, 2011, included accrued dividends on the
FRBNY's preferred interests in AIA Aurora LLC and ALICO Holdings LLC.
14. Cash value of agreements, which are collateralized by U.S. Treasury securities, federal agency debt securities, and mortgage-backed securities.
15. Represents the estimated weekly remittances to U.S Treasury as interest on Federal Reserve notes or, in those cases where the Reserve Bank's net earnings are not sufficient to equate surplus to
capital paid-in, the deferred asset for interest on Federal Reserve notes. The amount of any deferred asset, which is presented as a negative amount in this line, represents the amount of the
Federal Reserve Bank's earnings that must be retained before remittances to the U.S. Treasury resume. The amounts on this line are calculated in accordance with Board of Governors policy, which
requires the Federal Reserve Banks to remit residual earnings to the U.S. Treasury as interest on Federal Reserve notes after providing for the costs of operations, payment of dividends, and the
amount necessary to equate surplus with capital paid-in.
16. 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. Before the closing of the AIG recapitalization plan on January 14,
2011, included 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 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
Wednesday
Federal Reserve notes and collateral Mar 9, 2011
Federal Reserve notes outstanding 1,115,906
Less: Notes held by F.R. Banks not subject to collateralization 155,951
Federal Reserve notes to be collateralized 959,955
Collateral held against Federal Reserve notes 959,955
Gold certificate account 11,037
Special drawing rights certificate account 5,200
U.S. Treasury, agency debt, and mortgage-backed securities pledged (1,2) 943,718
Other assets pledged 0
Memo:
Total U.S. Treasury, agency debt, and mortgage-backed securities (1,2) 2,358,250
Less: Face value of securities under reverse repurchase agreements 45,814
U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 2,312,436
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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