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Release Date: May 24, 2012
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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
May 24, 2012
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 May 23, 2012
Federal Reserve Banks May 23, 2012 May 16, 2012 May 25, 2011
Reserve Bank credit 2,842,558 + 2,137 + 91,882 2,842,547
Securities held outright (1) 2,615,867 + 7,038 + 69,450 2,615,062
U.S. Treasury securities 1,659,826 - 1,121 + 155,238 1,656,824
Bills (2) 18,423 0 0 18,423
Notes and bonds, nominal (2) 1,564,274 - 1,253 + 146,949 1,561,224
Notes and bonds, inflation-indexed (2) 67,654 0 + 6,650 67,654
Inflation compensation (3) 9,475 + 132 + 1,638 9,523
Federal agency debt securities (2) 93,383 - 1,072 - 25,822 93,252
Mortgage-backed securities (4) 862,658 + 9,232 - 59,967 864,985
Repurchase agreements (5) 0 0 0 0
Loans 6,153 - 276 - 8,498 5,834
Primary credit 13 + 3 + 2 22
Secondary credit 0 0 0 0
Seasonal credit 27 - 1 + 5 32
Term Asset-Backed Securities Loan Facility (6) 6,112 - 279 - 8,505 5,780
Other credit extensions 0 0 0 0
Net portfolio holdings of Maiden Lane LLC (7) 3,855 - 192 - 20,572 3,871
Net portfolio holdings of Maiden Lane II LLC (8) 19 0 - 14,968 19
Net portfolio holdings of Maiden Lane III LLC (9) 15,124 + 5 - 9,251 15,152
Net portfolio holdings of TALF LLC (10) 838 + 2 + 94 841
Float -678 + 131 + 157 -691
Central bank liquidity swaps (11) 26,425 - 25 + 26,425 26,425
Other Federal Reserve assets (12) 174,954 - 4,548 + 49,045 176,033
Gold stock 11,041 0 0 11,041
Special drawing rights certificate account 5,200 0 0 5,200
Treasury currency outstanding (13) 44,487 + 14 + 607 44,487
Total factors supplying reserve funds 2,903,286 + 2,151 + 92,489 2,903,275
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 May 23, 2012
Federal Reserve Banks May 23, 2012 May 16, 2012 May 25, 2011
Currency in circulation (13) 1,103,490 + 211 + 85,732 1,105,938
Reverse repurchase agreements (14) 93,658 + 265 + 38,376 93,575
Foreign official and international accounts 93,658 + 265 + 38,376 93,575
Others 0 0 0 0
Treasury cash holdings 134 - 2 - 7 141
Deposits with F.R. Banks, other than reserve balances 116,582 - 9,621 + 24,262 104,300
Term deposits held by depository institutions 3,053 + 3,053 + 3,053 3,053
U.S. Treasury, General Account 90,083 - 9,793 + 5,824 80,366
U.S. Treasury, Supplementary Financing Account 0 0 - 5,000 0
Foreign official 129 - 25 + 2 129
Service-related 1,903 - 3 - 640 1,903
Required clearing balances 1,903 - 3 - 640 1,903
Adjustments to compensate for float 0 0 0 0
Other 21,413 - 2,853 + 21,022 18,849
Other liabilities and capital (15) 76,082 - 231 + 2,294 75,061
Total factors, other than reserve balances,
absorbing reserve funds 1,389,947 - 9,376 + 150,658 1,379,015
Reserve balances with Federal Reserve Banks 1,513,339 + 11,527 - 58,169 1,524,260
Note: Components may not sum to totals because of rounding.
1. Includes securities lent to dealers under the overnight securities lending facility; refer to table 1A.
2. Face value of the securities.
3. Compensation that adjusts for the effect of inflation on the original face value of inflation-indexed
securities.
4. Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. Current face value of the securities, which is the
remaining principal balance of the underlying mortgages.
5. Cash value of agreements.
6. Includes credit extended by the Federal Reserve Bank of New York to eligible borrowers through the Term
Asset-Backed Securities Loan Facility.
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. 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 FRBNY to eligible borrowers through the
Term Asset-Backed Securities Loan Facility.
13. Estimated.
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. 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 May 23, 2012
Memorandum item May 23, 2012 May 16, 2012 May 25, 2011
Marketable securities held in custody for foreign
official and international accounts (1) 3,506,654 + 16,370 + 64,471 3,510,097
U.S. Treasury securities 2,794,083 + 15,021 + 95,246 2,788,702
Federal agency securities (2) 712,571 + 1,349 - 30,775 721,396
Securities lent to dealers 14,116 + 1,146 - 3,126 15,075
Overnight facility (3) 14,116 + 1,146 - 3,126 15,075
U.S. Treasury securities 13,505 + 1,215 - 2,719 14,553
Federal agency debt securities 611 - 69 - 407 522
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, May 23, 2012
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) 50 1,134 2,846 1,804 0 ... 5,834
U.S. Treasury securities (2)
Holdings 12,139 21,995 36,607 543,351 730,251 312,480 1,656,824
Weekly changes - 2,504 + 10,710 - 12,509 - 4,314 + 6,388 + 2,258 + 31
Federal agency debt securities (3)
Holdings 0 5,284 15,915 63,219 6,487 2,347 93,252
Weekly changes - 914 + 1,133 - 1,133 0 0 0 - 914
Mortgage-backed securities (4)
Holdings 0 0 2 8 109 864,867 864,985
Weekly changes 0 0 0 0 + 11 + 6,746 + 6,756
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) 14,926 11,500 0 0 0 0 26,425
Reverse repurchase agreements (6) 93,575 0 ... ... ... ... 93,575
Term deposits 0 3,053 0 ... ... ... 3,053
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 May 23, 2012
Mortgage-backed securities held outright (1) 864,985
Commitments to buy mortgage-backed securities (2) 30,527
Commitments to sell mortgage-backed securities (2) 0
Cash and cash equivalents (3) 249
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 May 23, 2012
Net portfolio holdings of Maiden Lane LLC (1) 3,871
Outstanding principal amount of loan extended by the Federal Reserve Bank of New York (2) 366
Accrued interest payable to the Federal Reserve Bank of New York (2) 765
Outstanding principal amount and accrued interest on loan payable to JPMorgan Chase & Co. (3) 1,414
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
March 31, 2012. 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 May 23, 2012
Net portfolio holdings of Maiden Lane II LLC (1) 19
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
Deferred payment and accrued interest payable to subsidiaries of American International Group, Inc. (3) 0
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
March 31, 2012. 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 May 23, 2012
Net portfolio holdings of Maiden Lane III LLC (1) 15,152
Outstanding principal amount of loan extended by the Federal Reserve Bank of New York (2) 2,768
Accrued interest payable to the Federal Reserve Bank of New York (2) 735
Outstanding principal amount and accrued interest on loan payable to American International Group, Inc. (3) 5,613
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
March 31, 2012. 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 May 23, 2012
Asset-backed securities holdings (1) 0
Other investments, net 841
Net portfolio holdings of TALF LLC 841
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) 111
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 May 23, 2012 Wednesday Wednesday
Assets, liabilities, and capital May 16, 2012 May 25, 2011
Assets
Gold certificate account 11,037 0 0
Special drawing rights certificate account 5,200 0 0
Coin 2,180 - 19 + 50
Securities, repurchase agreements, and loans 2,620,896 + 5,314 + 50,351
Securities held outright (1) 2,615,062 + 5,874 + 58,786
U.S. Treasury securities 1,656,824 + 31 + 137,497
Bills (2) 18,423 0 0
Notes and bonds, nominal (2) 1,561,224 - 101 + 129,215
Notes and bonds, inflation-indexed (2) 67,654 0 + 6,650
Inflation compensation (3) 9,523 + 131 + 1,631
Federal agency debt securities (2) 93,252 - 914 - 25,841
Mortgage-backed securities (4) 864,985 + 6,756 - 52,871
Repurchase agreements (5) 0 0 0
Loans 5,834 - 559 - 8,436
Net portfolio holdings of Maiden Lane LLC (6) 3,871 + 18 - 20,604
Net portfolio holdings of Maiden Lane II LLC (7) 19 0 - 14,990
Net portfolio holdings of Maiden Lane III LLC (8) 15,152 + 33 - 9,227
Net portfolio holdings of TALF LLC (9) 841 + 5 + 95
Items in process of collection (82) 162 - 12 - 110
Bank premises 2,369 + 2 + 156
Central bank liquidity swaps (10) 26,425 - 25 + 26,425
Other assets (11) 173,652 + 3,189 + 50,556
Total assets (82) 2,861,804 + 8,504 + 82,701
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 May 23, 2012 Wednesday Wednesday
Assets, liabilities, and capital May 16, 2012 May 25, 2011
Liabilities
Federal Reserve notes, net of F.R. Bank holdings 1,063,767 + 2,124 + 84,607
Reverse repurchase agreements (12) 93,575 + 2,553 + 39,394
Deposits (3) 1,628,548 + 3,565 - 42,742
Term deposits held by depository institutions 3,053 + 3,053 + 3,053
Other deposits held by depository institutions 1,526,151 + 10,449 - 65,940
U.S. Treasury, General Account 80,366 - 20,669 + 6,672
U.S. Treasury, Supplementary Financing Account 0 0 - 5,000
Foreign official 129 - 11 + 3
Other (3) 18,849 + 10,743 + 18,469
Deferred availability cash items (79) 853 - 146 - 526
Other liabilities and accrued dividends (13) 20,413 + 409 - 22
Total liabilities (82) 2,807,156 + 8,505 + 80,711
Capital accounts
Capital paid in 27,324 - 1 + 995
Surplus 27,324 - 1 + 995
Other capital accounts 0 0 0
Total capital 54,648 - 1 + 1,990
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. 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.
11. 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.
12. Cash value of agreements, which are collateralized by U.S. Treasury securities, federal agency debt
securities, and mortgage-backed securities.
13. 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.
9. Statement of Condition of Each Federal Reserve Bank, May 23, 2012
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 11,037 408 3,824 437 515 890 1,337 839 313 192 315 725 1,242
Special drawing rights certificate acct. 5,200 196 1,818 210 237 412 654 424 150 90 153 282 574
Coin 2,180 48 104 153 151 388 201 316 34 56 163 205 360
Securities, repurchase agreements,
and loans 2,620,896 63,521 1,471,926 86,448 66,486 186,118 157,692 145,075 40,886 23,791 52,538 101,611 224,803
Securities held outright (1) 2,615,062 63,515 1,466,146 86,448 66,486 186,118 157,670 145,072 40,884 23,773 52,538 101,609 224,802
U.S. Treasury securities 1,656,824 40,241 928,906 54,771 42,124 117,919 99,895 91,913 25,903 15,062 33,286 64,376 142,428
Bills (2) 18,423 447 10,329 609 468 1,311 1,111 1,022 288 167 370 716 1,584
Notes and bonds (3) 1,638,402 39,794 918,577 54,162 41,655 116,607 98,784 90,891 25,615 14,895 32,916 63,660 140,844
Federal agency debt securities (2) 93,252 2,265 52,282 3,083 2,371 6,637 5,622 5,173 1,458 848 1,873 3,623 8,016
Mortgage-backed securities (4) 864,985 21,009 484,958 28,595 21,992 61,562 52,153 47,986 13,523 7,864 17,378 33,609 74,358
Repurchase agreements (5) 0 0 0 0 0 0 0 0 0 0 0 0 0
Loans 5,834 6 5,780 0 0 0 22 3 2 18 0 3 1
Net portfolio holdings of Maiden
Lane LLC (6) 3,871 0 3,871 0 0 0 0 0 0 0 0 0 0
Net portfolio holdings of Maiden
Lane II LLC (7) 19 0 19 0 0 0 0 0 0 0 0 0 0
Net portfolio holdings of Maiden
Lane III LLC (8) 15,152 0 15,152 0 0 0 0 0 0 0 0 0 0
Net portfolio holdings of TALF LLC (9) 841 0 841 0 0 0 0 0 0 0 0 0 0
Items in process of collection 244 24 0 77 26 3 42 10 5 9 4 7 38
Bank premises 2,369 122 462 66 124 230 213 204 132 105 256 242 211
Central bank liquidity swaps (10) 26,425 926 8,524 2,292 1,954 5,466 1,511 705 216 108 263 423 4,037
Other assets (11) 173,652 4,514 90,891 7,224 5,643 15,934 10,423 8,890 2,547 1,501 3,248 6,235 16,603
Interdistrict settlement account 0 - 1,960 + 7,079 - 13,528 - 391 - 2,119 + 2,517 - 771 + 1,634 + 850 + 293 + 520 + 5,877
Total assets 2,861,886 67,799 1,604,512 83,380 74,745 207,323 174,589 155,691 45,918 26,702 57,232 110,250 253,746
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, May 23, 2012 (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 1,245,297 46,922 432,931 47,859 61,209 101,726 151,057 94,773 36,320 22,526 37,249 77,843 134,880
Less: Notes held by F.R. Banks 181,530 4,906 66,214 5,506 7,696 11,956 25,049 12,338 4,331 3,993 3,804 11,633 24,103
Federal Reserve notes, net 1,063,767 42,016 366,717 42,353 53,514 89,770 126,008 82,435 31,988 18,533 33,445 66,210 110,777
Reverse repurchase agreements (12) 93,575 2,273 52,463 3,093 2,379 6,660 5,642 5,191 1,463 851 1,880 3,636 8,044
Deposits 1,628,551 20,542 1,152,101 33,018 14,236 99,124 39,159 65,924 11,753 6,756 21,114 39,111 125,712
Term deposits held by depository
institutions 3,053 10 2,255 600 0 95 5 8 0 70 5 5 0
Other deposits held by depository
institutions 1,526,151 20,526 1,050,717 32,411 14,233 98,880 39,151 65,886 11,752 6,686 21,107 39,105 125,698
U.S. Treasury, General Account 80,366 0 80,366 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 129 1 102 3 3 8 2 1 0 0 0 1 6
Other 18,852 5 18,662 4 0 141 1 29 0 0 1 0 8
Deferred availability cash items 932 50 0 117 50 19 118 21 69 178 31 54 226
Interest on Federal Reserve notes due
to U.S. Treasury (13) 1,809 43 1,053 54 41 117 105 101 26 15 38 68 146
Other liabilities and accrued
dividends (14) 18,604 231 14,760 306 285 714 484 422 175 143 179 304 601
Total liabilities 2,807,238 65,155 1,587,095 78,942 70,504 196,404 171,517 154,094 45,475 26,475 56,687 109,383 245,508
Capital
Capital paid in 27,324 1,322 8,708 2,219 2,121 5,459 1,536 798 222 114 272 433 4,119
Surplus 27,324 1,322 8,708 2,219 2,121 5,459 1,536 798 222 114 272 433 4,119
Other capital 0 0 0 0 0 0 0 0 0 0 0 0 0
Total liabilities and capital 2,861,886 67,799 1,604,512 83,380 74,745 207,323 174,589 155,691 45,918 26,702 57,232 110,250 253,746
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, May 23, 2012 (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. 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.
11. 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.
12. Cash value of agreements, which are collateralized by U.S. Treasury securities, federal agency debt securities, and mortgage-backed securities.
13. 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.
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 below.
Note on consolidation:
The Federal Reserve Bank of New York (FRBNY) has extended loans to several limited liability companies under the authority of section 13(3) of the Federal Reserve Act. On June 26, 2008, a loan was
extended to Maiden Lane LLC, which was formed to acquire certain assets of Bear Stearns. On 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 May 23, 2012
Federal Reserve notes outstanding 1,245,297
Less: Notes held by F.R. Banks not subject to collateralization 181,530
Federal Reserve notes to be collateralized 1,063,767
Collateral held against Federal Reserve notes 1,063,767
Gold certificate account 11,037
Special drawing rights certificate account 5,200
U.S. Treasury, agency debt, and mortgage-backed securities pledged (1,2) 1,047,530
Other assets pledged 0
Memo:
Total U.S. Treasury, agency debt, and mortgage-backed securities (1,2) 2,615,062
Less: Face value of securities under reverse repurchase agreements 80,422
U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 2,534,639
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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