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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 1, 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 Nov 30, 2011
Federal Reserve Banks Nov 30, 2011 Nov 23, 2011 Dec 1, 2010
Reserve Bank credit 2,793,222 - 15,075 + 475,387 2,797,061
Securities held outright (1) 2,601,547 - 15,545 + 523,653 2,604,999
U.S. Treasury securities 1,666,508 - 1,981 + 761,609 1,672,038
Bills (2) 18,423 0 0 18,423
Notes and bonds, nominal (2) 1,570,273 - 2,080 + 734,490 1,575,363
Notes and bonds, inflation-indexed (2) 67,993 + 71 + 23,117 68,420
Inflation compensation (3) 9,819 + 27 + 4,002 9,832
Federal agency debt securities (2) 105,909 - 866 - 42,269 105,909
Mortgage-backed securities (4) 829,130 - 12,698 - 195,687 827,052
Repurchase agreements (5) 0 0 0 0
Loans 9,809 - 419 - 36,982 9,821
Primary credit 42 + 17 - 149 113
Secondary credit 0 0 0 0
Seasonal credit 16 + 1 - 11 18
Credit extended to American International
Group, Inc., net (6) 0 0 - 20,922 0
Term Asset-Backed Securities Loan Facility (7) 9,751 - 437 - 15,900 9,691
Other credit extensions 0 0 0 0
Net portfolio holdings of Maiden Lane LLC (8) 10,602 + 2 - 16,961 10,629
Net portfolio holdings of Maiden Lane II LLC (9) 9,349 + 7 - 6,955 9,379
Net portfolio holdings of Maiden Lane III LLC (10) 17,839 + 6 - 5,507 17,845
Net portfolio holdings of TALF LLC (11) 803 + 5 + 156 803
Preferred interests in AIA Aurora LLC and ALICO
Holdings LLC (6) 0 0 - 26,057 0
Float -839 + 24 + 869 -1,004
Central bank liquidity swaps (12) 2,401 + 1 + 2,341 2,401
Other Federal Reserve assets (13) 141,711 + 843 + 40,830 142,187
Gold stock 11,041 0 0 11,041
Special drawing rights certificate account 5,200 0 0 5,200
Treasury currency outstanding (14) 44,194 + 14 + 701 44,194
Total factors supplying reserve funds 2,853,657 - 15,060 + 476,088 2,857,496
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 Nov 30, 2011
Federal Reserve Banks Nov 30, 2011 Nov 23, 2011 Dec 1, 2010
Currency in circulation (14) 1,062,278 + 3,442 + 84,241 1,062,291
Reverse repurchase agreements (15) 88,311 - 3,018 + 33,454 92,968
Foreign official and international accounts 88,311 - 3,018 + 33,454 92,968
Others 0 0 0 0
Treasury cash holdings 102 - 3 - 95 108
Deposits with F.R. Banks, other than reserve balances 111,192 - 30,574 - 130,035 146,162
Term deposits held by depository institutions 5,055 0 + 5,055 5,055
U.S. Treasury, General Account 43,770 - 577 + 8,392 85,605
U.S. Treasury, Supplementary Financing Account 0 0 - 199,959 0
Foreign official 186 - 1,011 - 2,798 165
Service-related 2,505 0 + 139 2,505
Required clearing balances 2,505 0 + 139 2,505
Adjustments to compensate for float 0 0 0 0
Other 59,675 - 28,987 + 59,135 52,831
Funds from American International Group, Inc. asset
dispositions, held as agent (6) 0 0 - 26,774 0
Other liabilities and capital (16) 71,470 + 85 - 1,175 71,214
Total factors, other than reserve balances,
absorbing reserve funds 1,333,354 - 30,066 - 40,384 1,372,742
Reserve balances with Federal Reserve Banks 1,520,303 + 15,006 + 516,472 1,484,753
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. Refer to table 4 and the note on consolidation accompanying table 9.
9. Refer to table 5 and the note on consolidation accompanying table 9.
10. Refer to table 6 and the note on consolidation accompanying table 9.
11. Refer to table 7 and the note on consolidation accompanying table 9.
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 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. Estimated.
15. Cash value of agreements, which are collateralized by U.S. Treasury securities, federal agency debt
securities, and mortgage-backed securities.
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
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 Nov 30, 2011
Memorandum item Nov 30, 2011 Nov 23, 2011 Dec 1, 2010
Marketable securities held in custody for foreign
official and international accounts (1) 3,451,210 - 5,493 + 110,329 3,466,282
U.S. Treasury securities 2,732,400 - 6,158 + 124,503 2,748,062
Federal agency securities (2) 718,809 + 665 - 14,174 718,221
Securities lent to dealers 11,827 + 533 + 3,821 13,569
Overnight facility (3) 11,827 + 533 + 3,821 13,569
U.S. Treasury securities 10,600 + 620 + 3,841 12,305
Federal agency debt securities 1,228 - 85 - 19 1,264
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, November 30, 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) 119 11 4,131 5,560 0 ... 9,821
U.S. Treasury securities (2)
Holdings 17,057 22,596 99,698 687,122 631,158 214,407 1,672,038
Weekly changes - 412 - 4,572 + 2 + 12,126 - 2,454 + 2,553 + 7,243
Federal agency debt securities (3)
Holdings 1,213 3,879 21,534 60,790 16,146 2,347 105,909
Weekly changes + 1,213 - 1,213 0 0 0 0 0
Mortgage-backed securities (4)
Holdings 0 0 0 12 22 827,018 827,052
Weekly changes 0 0 0 0 0 - 14,547 - 14,548
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) 553 1,848 0 0 0 0 2,401
Reverse repurchase agreements (6) 92,968 0 ... ... ... ... 92,968
Term deposits 5,055 0 0 ... ... ... 5,055
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
Millions of dollars
Wednesday
Account name Nov 30, 2011
Mortgage-backed securities held outright (1) 827,052
Commitments to buy mortgage-backed securities (2) 44,850
Commitments to sell mortgage-backed securities (2) 0
Cash and cash equivalents (3) 2
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 Nov 30, 2011
Net portfolio holdings of Maiden Lane LLC (1) 10,629
Outstanding principal amount of loan extended by the Federal Reserve Bank of New York (2) 7,523
Accrued interest payable to the Federal Reserve Bank of New York (2) 751
Outstanding principal amount and accrued interest on loan payable to JPMorgan Chase & Co. (3) 1,379
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, 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 Nov 30, 2011
Net portfolio holdings of Maiden Lane II LLC (1) 9,379
Outstanding principal amount of loan extended by the Federal Reserve Bank of New York (2) 6,368
Accrued interest payable to the Federal Reserve Bank of New York (2) 562
Deferred payment and accrued interest payable to subsidiaries of American International Group, Inc. (3) 1,103
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, 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 Nov 30, 2011
Net portfolio holdings of Maiden Lane III LLC (1) 17,845
Outstanding principal amount of loan extended by the Federal Reserve Bank of New York (2) 9,406
Accrued interest payable to the Federal Reserve Bank of New York (2) 681
Outstanding principal amount and accrued interest on loan payable to American International Group, Inc. (3) 5,526
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, 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 Nov 30, 2011
Asset-backed securities holdings (1) 0
Other investments, net 803
Net portfolio holdings of TALF LLC 803
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) 109
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 Nov 30, 2011 Wednesday Wednesday
Assets, liabilities, and capital Nov 23, 2011 Dec 1, 2010
Assets
Gold certificate account 11,037 0 0
Special drawing rights certificate account 5,200 0 0
Coin 2,247 - 2 + 154
Securities, repurchase agreements, and loans 2,614,820 - 7,367 + 479,689
Securities held outright (1) 2,604,999 - 7,306 + 516,717
U.S. Treasury securities 1,672,038 + 7,243 + 754,587
Bills (2) 18,423 0 0
Notes and bonds, nominal (2) 1,575,363 + 6,717 + 727,031
Notes and bonds, inflation-indexed (2) 68,420 + 498 + 23,544
Inflation compensation (3) 9,832 + 27 + 4,012
Federal agency debt securities (2) 105,909 0 - 42,269
Mortgage-backed securities (4) 827,052 - 14,548 - 195,601
Repurchase agreements (5) 0 0 0
Loans 9,821 - 61 - 37,029
Net portfolio holdings of Maiden Lane LLC (6) 10,629 + 31 - 16,972
Net portfolio holdings of Maiden Lane II LLC (7) 9,379 + 35 - 6,958
Net portfolio holdings of Maiden Lane III LLC (8) 17,845 + 8 - 5,507
Net portfolio holdings of TALF LLC (9) 803 0 + 155
Preferred interests in AIA Aurora LLC and ALICO
Holdings LLC (10) 0 0 - 26,057
Items in process of collection (78) 229 - 101 - 82
Bank premises 2,187 + 7 - 28
Central bank liquidity swaps (11) 2,401 + 1 + 2,341
Other assets (12) 139,995 - 378 + 40,341
Total assets (78) 2,816,773 - 7,764 + 467,077
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 Nov 30, 2011 Wednesday Wednesday
Assets, liabilities, and capital Nov 23, 2011 Dec 1, 2010
Liabilities
Federal Reserve notes, net of F.R. Bank holdings 1,020,447 - 304 + 84,056
Reverse repurchase agreements (13) 92,968 + 8,189 + 40,106
Deposits (0) 1,630,910 - 15,780 + 371,237
Term deposits held by depository institutions 5,055 0 + 5,055
Other deposits held by depository institutions 1,487,253 - 4,576 + 476,410
U.S. Treasury, General Account 85,605 + 51,070 + 40,133
U.S. Treasury, Supplementary Financing Account 0 0 - 199,959
Foreign official 165 + 41 - 2,789
Other (0) 52,831 - 62,316 + 52,386
Deferred availability cash items (78) 1,234 + 3 - 808
Other liabilities and accrued dividends (14) 17,252 + 91 - 25,457
Total liabilities (78) 2,762,811 - 7,801 + 469,135
Capital accounts
Capital paid in 26,981 + 18 + 189
Surplus 26,981 + 18 + 1,071
Other capital accounts 0 0 - 3,317
Total capital 53,962 + 37 - 2,057
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. Refer to table 4 and the note on consolidation accompanying table 9.
7. Refer to table 5 and the note on consolidation accompanying table 9.
8. Refer to table 6 and the note on consolidation accompanying table 9.
9. Refer to table 7 and the note on consolidation accompanying table 9.
10. 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.
11. Dollar value of foreign currency held under these agreements valued at the exchange rate to be used when
the foreign currency is returned to the foreign central bank. This exchange rate equals the market exchange
rate used when the foreign currency was acquired from the foreign central bank.
12. Includes other assets denominated in foreign currencies, which are revalued daily at market exchange rates
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.
13. Cash value of agreements, which are collateralized by U.S. Treasury securities, federal agency debt
securities, and mortgage-backed securities.
14. 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, November 30, 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 2,247 56 80 160 166 392 192 335 30 57 170 234 375
Securities, repurchase agreements,
and loans 2,614,820 64,048 1,221,127 89,237 70,366 300,851 193,663 154,710 49,307 40,036 69,327 103,110 259,037
Securities held outright (1) 2,604,999 64,048 1,211,436 89,237 70,366 300,851 193,662 154,699 49,305 40,035 69,294 103,028 259,037
U.S. Treasury securities 1,672,038 41,110 777,570 57,277 45,165 193,103 124,304 99,295 31,647 25,697 44,477 66,129 166,265
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) 1,653,616 40,657 769,002 56,646 44,668 190,976 122,934 98,201 31,298 25,414 43,987 65,401 164,433
Federal agency debt securities (2) 105,909 2,604 49,252 3,628 2,861 12,231 7,874 6,289 2,005 1,628 2,817 4,189 10,531
Mortgage-backed securities (4) 827,052 20,334 384,614 28,332 22,340 95,516 61,485 49,115 15,654 12,711 22,000 32,710 82,241
Repurchase agreements (5) 0 0 0 0 0 0 0 0 0 0 0 0 0
Loans 9,821 0 9,691 0 0 0 1 11 2 1 32 82 0
Net portfolio holdings of Maiden
Lane LLC (6) 10,629 0 10,629 0 0 0 0 0 0 0 0 0 0
Net portfolio holdings of Maiden
Lane II LLC (7) 9,379 0 9,379 0 0 0 0 0 0 0 0 0 0
Net portfolio holdings of Maiden
Lane III LLC (8) 17,845 0 17,845 0 0 0 0 0 0 0 0 0 0
Net portfolio holdings of TALF LLC (9) 803 0 803 0 0 0 0 0 0 0 0 0 0
Preferred interests in AIA Aurora LLC
and ALICO Holdings LLC (10) 0 0 0 0 0 0 0 0 0 0 0 0 0
Items in process of collection 307 8 0 48 58 5 14 26 7 11 6 14 110
Bank premises 2,187 122 262 67 126 233 214 206 134 105 259 246 213
Central bank liquidity swaps (11) 2,401 83 695 233 178 492 138 61 20 74 22 36 369
Other assets (12) 139,995 3,726 60,229 6,565 5,031 18,587 9,973 7,402 2,386 2,595 3,266 4,906 15,329
Interdistrict settlement account 0 - 11,698 + 265,489 - 17,654 - 5,923 - 114,335 - 35,989 - 8,986 - 8,128 - 15,771 - 18,504 + 982 - 29,483
Total assets 2,816,851 56,932 1,592,223 79,297 70,689 207,510 170,252 155,033 44,225 27,394 55,016 110,538 247,742
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, November 30, 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 1,194,306 44,513 411,921 46,342 54,359 95,089 145,848 90,014 33,787 21,047 34,844 80,601 135,941
Less: Notes held by F.R. Banks 173,859 5,168 48,521 6,756 10,513 11,364 27,035 12,743 4,180 5,200 3,635 12,383 26,360
Federal Reserve notes, net 1,020,447 39,345 363,400 39,586 43,846 83,725 118,812 77,271 29,607 15,847 31,209 68,218 109,581
Reverse repurchase agreements (13) 92,968 2,286 43,234 3,185 2,511 10,737 6,912 5,521 1,760 1,429 2,473 3,677 9,245
Deposits 1,630,910 13,131 1,155,099 31,222 19,878 101,022 40,896 70,213 12,186 9,426 20,566 37,445 119,826
Term deposits held by depository
institutions 5,055 10 2,318 503 0 15 5 1,505 50 65 155 5 425
Other deposits held by depository
institutions 1,487,253 13,113 1,014,389 30,715 19,875 100,871 40,888 68,674 12,131 9,358 20,409 37,438 119,392
U.S. Treasury, General Account 85,605 0 85,605 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 165 1 136 4 3 8 2 1 0 1 0 1 6
Other 52,831 7 52,651 1 0 128 1 34 4 2 1 1 3
Deferred availability cash items 1,312 72 0 184 172 33 66 86 48 323 56 55 216
Interest on Federal Reserve notes due
to U.S. Treasury (14) 1,170 22 557 38 27 139 89 61 23 19 25 50 121
Other liabilities and accrued
dividends (15) 16,082 190 12,642 265 278 724 415 358 162 131 152 243 521
Total liabilities 2,762,889 55,046 1,574,932 74,481 66,713 196,380 167,189 153,511 43,785 27,175 54,481 109,688 239,510
Capital
Capital paid in 26,981 943 8,645 2,408 1,988 5,565 1,532 761 220 110 268 425 4,116
Surplus 26,981 943 8,645 2,408 1,988 5,565 1,532 761 220 110 268 425 4,116
Other capital 0 0 0 0 0 0 0 0 0 0 0 0 0
Total liabilities and capital 2,816,851 56,932 1,592,223 79,297 70,689 207,510 170,252 155,033 44,225 27,394 55,016 110,538 247,742
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, November 30, 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. Refer to table 4 and the note on consolidation below.
7. Refer to table 5 and the note on consolidation below.
8. Refer to table 6 and the note on consolidation below.
9. Refer to table 7 and the note on consolidation below.
10. 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.
11. Dollar value of foreign currency held under these agreements valued at the exchange rate to be used when the foreign currency is returned to the foreign central bank. This exchange rate equals
the market exchange rate used when the foreign currency was acquired from the foreign central bank.
12. Includes other assets denominated in foreign currencies, which are revalued daily at market exchange rates 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.
13. Cash value of agreements, which are collateralized by U.S. Treasury securities, federal agency debt securities, and mortgage-backed securities.
14. 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.
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. 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 Nov 30, 2011
Federal Reserve notes outstanding 1,194,306
Less: Notes held by F.R. Banks not subject to collateralization 173,859
Federal Reserve notes to be collateralized 1,020,447
Collateral held against Federal Reserve notes 1,020,447
Gold certificate account 11,037
Special drawing rights certificate account 5,200
U.S. Treasury, agency debt, and mortgage-backed securities pledged (1,2) 1,004,210
Other assets pledged 0
Memo:
Total U.S. Treasury, agency debt, and mortgage-backed securities (1,2) 2,604,999
Less: Face value of securities under reverse repurchase agreements 82,009
U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 2,522,990
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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