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Release Date: August 18, 2011
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August 18, 2011
The Board's H.4.1 statistical release ("Factors Affecting Reserve Balances of Depository Institutions
and Condition Statement of Federal Reserve Banks") for August 17, 2011, released today,
understated the average amount of marketable securities held in custody for foreign official and
international accounts. As a result, corrections to table 1A have been made. In table 1A, the weekly
average value of the "Marketable securities held in custody for foreign official and international
accounts" for the week ended Wednesday, August 17, 2011, was corrected from $2,981,694 million
to $3,478,623 million. The weekly average value of "U.S. Treasury securities" held in custody for
the week ended Wednesday, August 17, 2011, was corrected from $2,352,395 million to $2,744,281
million, and the weekly average value of "Federal agency securities" held in custody for the week
ended Wednesday, August 17, 2011, was corrected from $629,299 million to $734,343 million.
FEDERAL RESERVE statistical release
H.4.1
Factors Affecting Reserve Balances of Depository Institutions and
Condition Statement of Federal Reserve Banks
August 18, 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 Aug 17, 2011
Federal Reserve Banks Aug 17, 2011 Aug 10, 2011 Aug 18, 2010
Reserve Bank credit 2,848,230 - 6,494 + 545,756 2,841,932
Securities held outright (1) 2,652,085 - 1,535 + 599,935 2,650,862
U.S. Treasury securities 1,645,147 + 1,247 + 867,780 1,647,633
Bills (2) 18,423 0 0 18,423
Notes and bonds, nominal (2) 1,551,359 + 889 + 838,975 1,553,852
Notes and bonds, inflation-indexed (2) 65,948 + 305 + 24,819 65,948
Inflation compensation (3) 9,417 + 52 + 3,986 9,410
Federal agency debt securities (2) 111,674 - 761 - 45,951 110,660
Mortgage-backed securities (4) 895,264 - 2,021 - 221,894 892,569
Repurchase agreements (5) 0 0 0 0
Loans 11,904 - 15 - 50,005 11,903
Primary credit 6 0 - 6 3
Secondary credit 0 0 0 0
Seasonal credit 98 + 7 + 16 99
Credit extended to American International
Group, Inc., net (6) 0 0 - 23,511 0
Term Asset-Backed Securities Loan Facility (7) 11,801 - 20 - 26,504 11,800
Other credit extensions 0 0 0 0
Net portfolio holdings of Commercial Paper
Funding Facility LLC (8) 0 0 - 1 0
Net portfolio holdings of Maiden Lane LLC (9) 18,187 - 2,633 - 10,849 18,174
Net portfolio holdings of Maiden Lane II LLC (10) 10,065 + 2 - 5,897 10,068
Net portfolio holdings of Maiden Lane III LLC (11) 21,351 - 176 - 1,952 21,315
Net portfolio holdings of TALF LLC (12) 767 0 + 227 767
Preferred interests in AIA Aurora LLC and ALICO
Holdings LLC (6) 0 0 - 25,733 0
Float -1,082 + 53 + 682 -1,121
Central bank liquidity swaps (13) 200 + 200 - 234 200
Other Federal Reserve assets (14) 134,753 - 2,390 + 39,582 129,764
Gold stock 11,041 0 0 11,041
Special drawing rights certificate account 5,200 0 0 5,200
Treasury currency outstanding (15) 44,064 + 14 + 740 44,064
Total factors supplying reserve funds 2,908,535 - 6,479 + 546,496 2,902,237
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 Aug 17, 2011
Federal Reserve Banks Aug 17, 2011 Aug 10, 2011 Aug 18, 2010
Currency in circulation (15) 1,033,505 - 2 + 86,576 1,034,147
Reverse repurchase agreements (16) 99,940 + 25,361 + 39,807 95,911
Foreign official and international accounts 99,931 + 25,352 + 40,004 95,911
Others 9 + 9 - 197 0
Treasury cash holdings 113 - 14 - 96 114
Deposits with F.R. Banks, other than reserve balances 82,877 - 4,741 - 158,406 56,514
Term deposits held by depository institutions 5,088 0 + 2,969 5,088
U.S. Treasury, general account 20,172 - 3,253 - 8,171 8,905
U.S. Treasury, supplementary financing account 0 0 - 199,955 0
Foreign official 5,183 + 4,699 + 3,300 5,126
Service-related 2,486 - 4 + 28 2,486
Required clearing balances 2,486 - 4 + 28 2,486
Adjustments to compensate for float 0 0 0 0
Other 49,948 - 6,182 + 43,422 34,910
Funds from American International Group, Inc. asset
dispositions, held as agent (6) 0 0 0 0
Other liabilities and capital (17) 70,815 + 1,046 - 1,372 70,873
Total factors, other than reserve balances,
absorbing reserve funds 1,287,249 + 21,649 - 33,492 1,257,559
Reserve balances with Federal Reserve Banks 1,621,286 - 28,129 + 579,988 1,644,678
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 Aug 17, 2011
Memorandum item Aug 17, 2011 Aug 10, 2011 Aug 18, 2010
Marketable securities held in custody for foreign
official and international accounts (1) 3,478,623 + 8,588 + 302,696 3,484,770
U.S. Treasury securities 2,744,281 + 9,150 + 389,628 2,752,442
Federal agency securities (2) 734,343 - 561 - 86,931 732,328
Securities lent to dealers 14,473 - 4,536 + 9,956 12,803
Overnight facility (3) 14,473 - 4,536 + 9,956 12,803
U.S. Treasury securities 13,807 - 4,209 + 10,704 12,190
Federal agency debt securities 666 - 326 - 749 613
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, August 17, 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
Loans (1) 77 26 2,383 9,417 0 ... 11,903
U.S. Treasury securities (2)
Holdings 15,533 19,249 125,266 709,657 576,091 201,837 1,647,633
Weekly changes - 1,313 + 4,618 + 9,030 - 5,981 - 4,679 + 1,216 + 2,890
Federal agency debt securities (3)
Holdings 884 2,279 18,396 66,609 20,145 2,347 110,660
Weekly changes - 1,775 + 171 + 1,757 - 1,928 0 0 - 1,775
Mortgage-backed securities (4)
Holdings 0 0 0 15 23 892,531 892,569
Weekly changes 0 0 0 - 1 0 - 4,715 - 4,716
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) 200 0 0 0 0 0 200
Reverse repurchase agreements (6) 95,911 0 ... ... ... ... 95,911
Term deposits 5,088 0 0 ... ... ... 5,088
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 Aug 17, 2011
Mortgage-backed securities held outright (1) 892,569
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 Aug 17, 2011
Net portfolio holdings of Maiden Lane LLC (1) 18,174
Outstanding principal amount of loan extended by the Federal Reserve Bank of New York (2) 15,061
Accrued interest payable to the Federal Reserve Bank of New York (2) 725
Outstanding principal amount and accrued interest on loan payable to JPMorgan Chase & Co. (3) 1,358
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, 2011. 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 Aug 17, 2011
Net portfolio holdings of Maiden Lane II LLC (1) 10,068
Outstanding principal amount of loan extended by the Federal Reserve Bank of New York (2) 6,808
Accrued interest payable to the Federal Reserve Bank of New York (2) 537
Deferred payment and accrued interest payable to subsidiaries of American International Group, Inc. (3) 1,093
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, 2011. 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 Aug 17, 2011
Net portfolio holdings of Maiden Lane III LLC (1) 21,315
Outstanding principal amount of loan extended by the Federal Reserve Bank of New York (2) 10,536
Accrued interest payable to the Federal Reserve Bank of New York (2) 643
Outstanding principal amount and accrued interest on loan payable to American International Group, Inc. (3) 5,475
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, 2011. 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 Aug 17, 2011
Asset-backed securities holdings (1) 0
Other investments, net 767
Net portfolio holdings of TALF LLC 767
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) 108
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 Aug 17, 2011 Wednesday Wednesday
Assets, liabilities, and capital Aug 10, 2011 Aug 18, 2010
Assets
Gold certificate account 11,037 0 0
Special drawing rights certificate account 5,200 0 0
Coin 2,189 0 + 128
Securities, repurchase agreements, and loans 2,662,765 - 3,610 + 551,067
Securities held outright (1) 2,650,862 - 3,600 + 601,084
U.S. Treasury securities 1,647,633 + 2,890 + 868,084
Bills (2) 18,423 0 0
Notes and bonds, nominal (2) 1,553,852 + 2,909 + 839,281
Notes and bonds, inflation-indexed (2) 65,948 0 + 24,819
Inflation compensation (3) 9,410 - 19 + 3,983
Federal agency debt securities (2) 110,660 - 1,775 - 46,551
Mortgage-backed securities (4) 892,569 - 4,716 - 220,448
Repurchase agreements (5) 0 0 0
Loans 11,903 - 10 - 50,018
Net portfolio holdings of Commercial Paper
Funding Facility LLC (6) 0 0 0
Net portfolio holdings of Maiden Lane LLC (7) 18,174 - 2,648 - 10,807
Net portfolio holdings of Maiden Lane II LLC (8) 10,068 + 4 - 5,899
Net portfolio holdings of Maiden Lane III LLC (9) 21,315 - 307 - 2,009
Net portfolio holdings of TALF LLC (10) 767 0 + 227
Preferred interests in AIA Aurora LLC and ALICO
Holdings LLC (11) 0 0 - 25,733
Items in process of collection (118) 222 + 70 - 49
Bank premises 2,199 + 1 - 28
Central bank liquidity swaps (12) 200 + 200 - 234
Other assets (13) 127,559 - 8,251 + 37,964
Total assets (118) 2,861,695 - 14,541 + 544,626
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 Aug 17, 2011 Wednesday Wednesday
Assets, liabilities, and capital Aug 10, 2011 Aug 18, 2010
Liabilities
Federal Reserve notes, net of F.R. Bank holdings 992,382 - 409 + 85,626
Reverse repurchase agreements (14) 95,911 - 896 + 35,726
Deposits (0) 1,701,186 - 14,006 + 424,591
Term deposits held by depository institutions 5,088 0 + 2,969
Other deposits held by depository institutions 1,647,157 + 19,097 + 605,362
U.S. Treasury, general account 8,905 - 5,694 - 21,312
U.S. Treasury, supplementary financing account 0 0 - 199,955
Foreign official 5,126 + 2,501 + 3,031
Other (0) 34,910 - 29,910 + 34,497
Deferred availability cash items (118) 1,344 - 99 - 734
Other liabilities and accrued dividends (15) 19,056 + 819 + 4,123
Total liabilities (118) 2,809,878 - 14,592 + 549,331
Capital accounts
Capital paid in 25,909 + 26 - 784
Surplus 25,909 + 26 + 70
Other capital accounts 0 0 - 3,989
Total capital 51,817 + 51 - 4,705
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, August 17, 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 11,037 390 3,866 432 450 872 1,394 854 319 197 318 728 1,217
Special drawing rights certificate acct. 5,200 196 1,818 210 237 412 654 424 150 90 153 282 574
Coin 2,189 51 69 164 161 361 198 331 39 58 167 225 364
Securities, repurchase agreements,
and loans 2,662,765 65,175 1,244,565 90,811 71,605 306,148 197,079 157,432 50,205 40,776 70,529 104,842 263,598
Securities held outright (1) 2,650,862 65,175 1,232,765 90,808 71,605 306,148 197,072 157,423 50,173 40,740 70,514 104,842 263,598
U.S. Treasury securities 1,647,633 40,509 766,220 56,441 44,506 190,285 122,489 97,845 31,185 25,322 43,828 65,164 163,838
Bills (2) 18,423 453 8,567 631 498 2,128 1,370 1,094 349 283 490 729 1,832
Notes and bonds (3) 1,629,211 40,057 757,653 55,810 44,008 188,157 121,120 96,751 30,836 25,039 43,338 64,435 162,006
Federal agency debt securities (2) 110,660 2,721 51,462 3,791 2,989 12,780 8,227 6,572 2,094 1,701 2,944 4,377 11,004
Mortgage-backed securities (4) 892,569 21,945 415,083 30,576 24,110 103,083 66,356 53,006 16,894 13,717 23,743 35,301 88,756
Repurchase agreements (5) 0 0 0 0 0 0 0 0 0 0 0 0 0
Loans 11,903 0 11,800 3 0 0 7 9 32 37 15 0 0
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) 18,174 0 18,174 0 0 0 0 0 0 0 0 0 0
Net portfolio holdings of Maiden
Lane II LLC (8) 10,068 0 10,068 0 0 0 0 0 0 0 0 0 0
Net portfolio holdings of Maiden
Lane III LLC (9) 21,315 0 21,315 0 0 0 0 0 0 0 0 0 0
Net portfolio holdings of TALF LLC (10) 767 0 767 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 340 24 0 56 104 6 27 33 5 13 7 16 49
Bank premises 2,199 123 255 67 137 236 214 206 135 106 261 247 212
Central bank liquidity swaps (12) 200 7 58 19 15 41 11 5 2 6 2 3 31
Other assets (13) 127,559 3,434 54,242 6,215 4,750 17,269 9,023 6,618 2,130 2,418 2,913 4,388 14,158
Interdistrict settlement account 0 - 397 + 198,264 + 14,101 + 8,568 - 119,203 - 31,141 - 10,210 - 8,853 - 19,065 - 18,681 - 2,724 - 10,659
Total assets 2,861,813 69,003 1,553,461 112,076 86,027 206,141 177,459 155,693 44,133 24,600 55,669 108,008 269,543
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, August 17, 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 1,154,331 43,344 385,791 46,732 55,338 95,863 141,354 90,998 34,077 19,346 32,136 75,042 134,311
Less: Notes held by F.R. Banks 161,949 5,306 42,930 6,330 7,631 12,665 23,671 13,390 4,530 5,557 3,475 11,098 25,366
Federal Reserve notes, net 992,382 38,038 342,861 40,401 47,708 83,197 117,683 77,607 29,547 13,789 28,661 63,943 108,946
Reverse repurchase agreements (14) 95,911 2,358 44,603 3,286 2,591 11,077 7,130 5,696 1,815 1,474 2,551 3,793 9,537
Deposits 1,701,186 26,425 1,136,099 63,110 31,226 99,718 49,011 70,299 12,059 8,665 23,639 39,070 141,864
Term deposits held by depository
institutions 5,088 20 1,485 805 0 1,765 0 22 75 40 6 30 840
Other deposits held by depository
institutions 1,647,157 26,401 1,085,919 62,301 31,222 97,811 49,009 70,252 11,934 8,624 23,632 39,039 141,013
U.S. Treasury, general account 8,905 0 8,905 0 0 0 0 0 0 0 0 0 0
U.S. Treasury, supplementary
financing account 0 0 0 0 0 0 0 0 0 0 0 0 0
Foreign official 5,126 1 5,097 4 3 8 2 1 0 1 0 1 6
Other 34,910 2 34,693 0 1 134 0 23 51 0 1 0 4
Deferred availability cash items 1,461 75 0 232 213 51 76 108 52 276 77 71 231
Interest on Federal Reserve notes due
to U.S. Treasury (15) 1,502 20 573 73 58 219 124 91 30 29 40 60 186
Other liabilities and accrued
dividends (16) 17,553 202 13,805 265 268 759 479 407 179 146 183 289 571
Total liabilities 2,809,995 67,118 1,537,940 107,367 82,063 195,022 174,504 154,208 43,682 24,380 55,151 107,226 261,335
Capital
Capital paid in 25,909 943 7,761 2,354 1,982 5,560 1,477 743 225 110 259 391 4,104
Surplus 25,909 943 7,761 2,354 1,982 5,560 1,477 743 225 110 259 391 4,104
Other capital 0 0 0 0 0 0 0 0 0 0 0 0 0
Total liabilities and capital 2,861,813 69,003 1,553,461 112,076 86,027 206,141 177,459 155,693 44,133 24,600 55,669 108,008 269,543
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, August 17, 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 Aug 17, 2011
Federal Reserve notes outstanding 1,154,331
Less: Notes held by F.R. Banks not subject to collateralization 161,949
Federal Reserve notes to be collateralized 992,382
Collateral held against Federal Reserve notes 992,382
Gold certificate account 11,037
Special drawing rights certificate account 5,200
U.S. Treasury, agency debt, and mortgage-backed securities pledged (1,2) 976,145
Other assets pledged 0
Memo:
Total U.S. Treasury, agency debt, and mortgage-backed securities (1,2) 2,650,862
Less: Face value of securities under reverse repurchase agreements 90,833
U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 2,560,030
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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