Skip to Content
Release Date: January 8, 2015
Release dates | Data Download Program (DDP) |
About |
Announcements |
Technical Q&As
Current release Other formats:
Screen reader |
ASCII |
PDF
(21 KB)
FEDERAL RESERVE statistical release
H.4.1
Factors Affecting Reserve Balances of Depository Institutions and
Condition Statement of Federal Reserve Banks January 8, 2015
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 Jan 7, 2015
Federal Reserve Banks Jan 7, 2015 Dec 31, 2014 Jan 8, 2014
Reserve Bank credit 4,459,122 - 567 + 476,437 4,459,910
Securities held outright (1) 4,236,793 - 1,611 + 480,316 4,236,740
U.S. Treasury securities 2,461,278 - 110 + 251,741 2,461,224
Bills (2) 0 0 0 0
Notes and bonds, nominal (2) 2,346,712 0 + 242,042 2,346,712
Notes and bonds, inflation-indexed (2) 98,469 0 + 7,090 98,469
Inflation compensation (3) 16,098 - 109 + 2,610 16,043
Federal agency debt securities (2) 38,677 0 - 18,097 38,677
Mortgage-backed securities (4) 1,736,838 - 1,501 + 246,672 1,736,839
Unamortized premiums on securities held outright (5) 206,609 - 407 - 1,734 206,465
Unamortized discounts on securities held outright (5) -18,375 + 31 - 5,972 -18,363
Repurchase agreements (6) 0 0 0 0
Loans 59 - 76 - 71 23
Primary credit 41 - 9 + 29 17
Secondary credit 0 0 0 0
Seasonal credit 17 - 68 - 4 6
Term Asset-Backed Securities Loan Facility (7) 0 0 - 97 0
Other credit extensions 0 0 0 0
Net portfolio holdings of Maiden Lane LLC (8) 1,678 0 + 137 1,678
Net portfolio holdings of Maiden Lane II LLC (9) 0 0 - 63 0
Net portfolio holdings of Maiden Lane III LLC (9) 0 0 - 22 0
Net portfolio holdings of TALF LLC (10) 0 0 - 108 0
Float -575 - 139 + 79 -632
Central bank liquidity swaps (11) 1,528 + 856 + 1,267 1,528
Other Federal Reserve assets (12) 31,405 + 778 + 2,609 32,471
Foreign currency denominated assets (13) 20,872 - 177 - 2,838 20,702
Gold stock 11,041 0 0 11,041
Special drawing rights certificate account 5,200 0 0 5,200
Treasury currency outstanding (14) 46,367 + 14 + 833 46,367
Total factors supplying reserve funds 4,542,602 - 730 + 474,432 4,543,220
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 Jan 7, 2015
Federal Reserve Banks Jan 7, 2015 Dec 31, 2014 Jan 8, 2014
Currency in circulation (14) 1,341,157 - 415 + 103,742 1,337,992
Reverse repurchase agreements (15) 344,153 - 2,298 + 170,156 241,437
Foreign official and international accounts 107,320 + 2,638 - 4,557 97,688
Others 236,833 - 4,936 + 174,713 143,749
Treasury cash holdings 202 + 5 - 35 204
Deposits with F.R. Banks, other than reserve balances 193,850 - 22,995 + 52,209 190,740
Term deposits held by depository institutions 0 0 0 0
U.S. Treasury, General Account 176,817 - 15,246 + 57,559 176,363
Foreign official 5,216 + 2 - 2,847 5,211
Other (16) 11,817 - 7,750 - 2,503 9,166
Other liabilities and capital (17) 62,644 - 837 + 803 62,574
Total factors, other than reserve balances,
absorbing reserve funds 1,942,004 - 26,542 + 326,873 1,832,947
Reserve balances with Federal Reserve Banks 2,600,598 + 25,814 + 147,559 2,710,273
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. The current face value shown is the
remaining principal balance of the securities.
5. Reflects the premium or discount, which is the difference between the purchase price and the face
value of the securities that has not been amortized. For U.S. Treasury and Federal agency debt
securities, amortization is on a straight-line basis. For mortgage-backed securities, amortization is on an
effective-interest basis.
6. Cash value of agreements.
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 6.
9. 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. Refer to the
note on consolidation accompanying table 6.
10. Refer to the note on consolidation accompanying table 6.
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 accrued interest, which represents the daily accumulation of interest earned, and other
accounts receivable. Also, includes Reserve Bank premises and equipment net of allowances for
depreciation.
13. Revalued daily at current foreign currency exchange rates.
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 deposits held at the Reserve Banks by international and multilateral organizations,
government-sponsored enterprises, and designated financial market utilities.
17. Includes the liability for interest on Federal Reserve notes due to U.S. Treasury.
Sources: Federal Reserve Banks and the U.S. Department of the Treasury.
1A. Memorandum Items
Millions of dollars
Memorandum item Averages of daily figures Wednesday
Week ended Change from week ended Jan 7, 2015
Jan 7, 2015 Dec 31, 2014 Jan 8, 2014
Securities held in custody for foreign official and
international accounts 3,300,823 + 7,671 - 51,722 3,297,796
Marketable U.S. Treasury securities (1) 2,968,179 + 8,194 - 29,023 2,965,405
Federal agency debt and mortgage-backed securities (2) 290,906 - 444 - 21,003 290,849
Other securities (3) 41,738 - 79 - 1,696 41,542
Securities lent to dealers 10,719 - 116 - 2,099 11,005
Overnight facility (4) 10,719 - 116 - 2,099 11,005
U.S. Treasury securities 10,099 - 63 - 1,621 10,411
Federal agency debt securities 619 - 54 - 479 594
Note: Components may not sum to totals because of rounding.
1. Includes securities and U.S. Treasury STRIPS at face value, and inflation compensation on TIPS.
Does not include securities pledged as collateral to foreign official and international account holders
against reverse repurchase agreements with the Federal Reserve presented in tables 1, 5, and 6.
2. Face value of federal agency securities and current face value of mortgage-backed securities, which
is the remaining principal balance of the securities.
3. Includes non-marketable U.S. Treasury securities, supranationals, corporate bonds, asset-backed
securities, and commercial paper at face value.
4. Face value. Fully collateralized by U.S. Treasury securities.
2. Maturity Distribution of Securities, Loans, and Selected Other Assets and Liabilities, January 7, 2015
Millions of dollars
Remaining Maturity Within 15 16 days to 91 days to Over 1 year Over 5 year Over 10 All
days 90 days 1 year to 5 years to 10 years years
Loans 18 5 0 0 0 ... 23
U.S. Treasury securities (1)
Holdings 0 5 3,516 1,112,908 686,609 658,187 2,461,224
Weekly changes 0 0 0 - 19 - 18 - 102 - 140
Federal agency debt securities (2)
Holdings 1,089 711 3,933 30,597 0 2,347 38,677
Weekly changes 0 0 0 0 0 0 0
Mortgage-backed securities (3)
Holdings 0 0 0 14 6,531 1,730,294 1,736,839
Weekly changes 0 0 0 + 2 + 78 - 73 + 7
Repurchase agreements (4) 0 0 ... ... ... ... 0
Central bank liquidity swaps (5) 1,528 0 0 0 0 0 1,528
Reverse repurchase agreements (4) 241,437 0 ... ... ... ... 241,437
Term deposits 0 0 0 ... ... ... 0
Note: Components may not sum to totals because of rounding.
...Not applicable.
1. 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.
2. Face value.
3. Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. The current face value shown is the
remaining principal balance of the securities.
4. Cash value of agreements.
5. 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
Account name Wednesday
Jan 7, 2015
Mortgage-backed securities held outright (1) 1,736,839
Commitments to buy mortgage-backed securities (2) 32,119
Commitments to sell mortgage-backed securities (2) 0
Cash and cash equivalents (3) 7
1. Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. The current face value shown is the
remaining principal balance of the securities.
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 5
and table 6.
4. Information on Principal Accounts of Maiden Lane LLC
Millions of dollars
Account name Wednesday
Jan 7, 2015
Net portfolio holdings of Maiden Lane LLC (1) 1,678
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
Outstanding principal amount and accrued interest on loan payable to JPMorgan Chase & Co. (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 September 30, 2014. 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 6.
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 5 and table 6.
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. The remaining outstanding balances of the senior
loan from FRBNY to Maiden Lane LLC, and the subordinated loan from JPMorgan Chase & Co. to Maiden Lane LLC were
repaid in full, with interest.
5. Consolidated Statement of Condition of All Federal Reserve Banks
Millions of dollars
Assets, liabilities, and capital Eliminations Wednesday Change since
from Jan 7, 2015 Wednesday Wednesday
consolidation Dec 31, 2014 Jan 8, 2014
Assets
Gold certificate account 11,037 0 0
Special drawing rights certificate account 5,200 0 0
Coin 1,876 + 3 - 93
Securities, unamortized premiums and discounts,
repurchase agreements, and loans 4,424,865 - 595 + 470,389
Securities held outright (1) 4,236,740 - 133 + 477,992
U.S. Treasury securities 2,461,224 - 140 + 248,300
Bills (2) 0 0 0
Notes and bonds, nominal (2) 2,346,712 0 + 238,637
Notes and bonds, inflation-indexed (2) 98,469 0 + 7,090
Inflation compensation (3) 16,043 - 140 + 2,573
Federal agency debt securities (2) 38,677 0 - 16,980
Mortgage-backed securities (4) 1,736,839 + 7 + 246,672
Unamortized premiums on securities held outright
(5) 206,465 - 370 - 1,784
Unamortized discounts on securities held outright
(5) -18,363 + 31 - 5,721
Repurchase agreements (6) 0 0 0
Loans 23 - 122 - 98
Net portfolio holdings of Maiden Lane LLC (7) 1,678 0 + 137
Net portfolio holdings of Maiden Lane II LLC (8) 0 0 - 63
Net portfolio holdings of Maiden Lane III LLC (8) 0 0 - 22
Net portfolio holdings of TALF LLC (9) 0 0 - 107
Items in process of collection (0) 167 + 81 + 35
Bank premises 2,260 - 4 - 26
Central bank liquidity swaps (10) 1,528 0 + 1,269
Foreign currency denominated assets (11) 20,702 - 369 - 2,939
Other assets (12) 30,211 + 2,748 + 2,760
Total assets (0) 4,499,524 + 1,864 + 471,339
Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table.
5. Consolidated Statement of Condition of All Federal Reserve Banks (continued)
Millions of dollars
Assets, liabilities, and capital Eliminations Wednesday Change since
from Jan 7, 2015 Wednesday Wednesday
consolidation Dec 31, 2014 Jan 8, 2014
Liabilities
Federal Reserve notes, net of F.R. Bank holdings 1,293,701 - 5,024 + 102,941
Reverse repurchase agreements (13) 241,437 - 268,400 + 90,711
Deposits (0) 2,901,013 + 274,004 + 278,036
Term deposits held by depository institutions 0 0 0
Other deposits held by depository institutions 2,710,273 + 332,277 + 220,141
U.S. Treasury, General Account 176,363 - 47,089 + 65,605
Foreign official 5,211 - 31 - 2,836
Other (14) (0) 9,166 - 11,154 - 4,874
Deferred availability cash items (0) 798 + 157 + 33
Other liabilities and accrued dividends (15) 5,426 + 1,122 - 2,509
Total liabilities (0) 4,442,376 + 1,860 + 469,213
Capital accounts
Capital paid in 28,574 + 2 + 1,063
Surplus 28,574 + 2 + 1,063
Other capital accounts 0 0 0
Total capital 57,148 + 4 + 2,126
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. The current face value shown is the
remaining principal balance of the securities.
5. Reflects the premium or discount, which is the difference between the purchase price and the face
value of the securities that has not been amortized. For U.S. Treasury and Federal agency debt
securities, amortization is on a straight-line basis. For mortgage-backed securities, amortization is on an
effective-interest basis.
6. Cash value of agreements, which are collateralized by U.S. Treasury and federal agency securities.
7. Refer to table 4 and the note on consolidation accompanying table 6.
8. 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. Refer to the
note on consolidation accompanying table 6.
9. Refer to the note on consolidation accompanying table 6.
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. Revalued daily at current foreign currency exchange rates.
12. Includes accrued interest, which represents the daily accumulation of interest earned, and other
accounts receivable.
13. Cash value of agreements, which are collateralized by U.S. Treasury securities, federal agency debt
securities, and mortgage-backed securities.
14. Includes deposits held at the Reserve Banks by international and multilateral organizations,
government-sponsored enterprises, and designated financial market utilities.
15. Includes the liability for interest on Federal Reserve notes due to U.S. Treasury.
6. Statement of Condition of Each Federal Reserve Bank, January 7, 2015
Millions of dollars
Assets, liabilities, and capital Total Boston New York Philadelphia Cleveland Richmond Atlanta Chicago St. Louis Minneapolis Kansas Dallas San
City Francisco
Assets
Gold certificate account 11,037 352 4,125 338 464 824 1,349 706 278 173 291 880 1,257
Special drawing rights certificate acct. 5,200 196 1,818 210 237 412 654 424 150 90 153 282 574
Coin 1,876 30 79 121 120 306 207 280 23 45 153 189 322
Securities, unamortized premiums and
discounts, repurchase agreements,
and loans 4,424,865 89,507 2,715,808 106,006 96,610 247,307 244,603 180,864 54,577 27,122 58,287 134,826 469,348
Securities held outright (1) 4,236,740 85,702 2,600,357 101,499 92,503 236,794 234,205 173,161 52,257 25,964 55,808 129,095 449,395
U.S. Treasury securities 2,461,224 49,786 1,510,610 58,963 53,737 137,559 136,055 100,594 30,357 15,083 32,420 74,994 261,065
Bills (2) 0 0 0 0 0 0 0 0 0 0 0 0 0
Notes and bonds (3) 2,461,224 49,786 1,510,610 58,963 53,737 137,559 136,055 100,594 30,357 15,083 32,420 74,994 261,065
Federal agency debt securities (2) 38,677 782 23,739 927 844 2,162 2,138 1,581 477 237 509 1,178 4,103
Mortgage-backed securities (4) 1,736,839 35,133 1,066,008 41,609 37,921 97,073 96,011 70,987 21,423 10,644 22,878 52,922 184,228
Unamortized premiums on securities held
outright (5) 206,465 4,176 126,721 4,946 4,508 11,539 11,413 8,439 2,547 1,265 2,720 6,291 21,900
Unamortized discounts on securities
held outright (5) -18,363 -371 -11,271 -440 -401 -1,026 -1,015 -751 -226 -113 -242 -560 -1,948
Repurchase agreements (6) 0 0 0 0 0 0 0 0 0 0 0 0 0
Loans 23 1 1 0 0 0 0 14 0 5 2 0 0
Net portfolio holdings of Maiden
Lane LLC (7) 1,678 0 1,678 0 0 0 0 0 0 0 0 0 0
Net portfolio holdings of Maiden
Lane II LLC (8) 0 0 0 0 0 0 0 0 0 0 0 0 0
Net portfolio holdings of Maiden
Lane III LLC (8) 0 0 0 0 0 0 0 0 0 0 0 0 0
Net portfolio holdings of TALF LLC (9) 0 0 0 0 0 0 0 0 0 0 0 0 0
Items in process of collection 167 0 0 1 0 0 165 0 0 0 0 0 0
Bank premises 2,260 125 436 75 110 219 212 199 122 96 241 223 201
Central bank liquidity swaps (10) 1,528 70 491 115 122 319 88 42 13 6 16 26 221
Foreign currency denominated
assets (11) 20,702 941 6,660 1,556 1,646 4,316 1,190 572 174 88 218 346 2,995
Other assets (12) 30,211 642 18,305 722 663 1,828 1,671 1,224 429 216 424 940 3,146
Interdistrict settlement account 0 + 20,214 - 82,017 - 8,170 + 23,455 - 361 - 1,617 - 13,414 - 6,072 + 2,645 + 1,922 + 12,839 + 50,576
Total assets 4,499,524 112,078 2,667,383 100,975 123,427 255,170 248,522 170,897 49,695 30,481 61,706 150,550 528,640
Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table.
6. Statement of Condition of Each Federal Reserve Bank, January 7, 2015 (continued)
Millions of dollars
Assets, liabilities, and capital Total Boston New York Philadelphia Cleveland Richmond Atlanta Chicago St. Louis Minneapolis Kansas Dallas San
City Francisco
Liabilities
Federal Reserve notes outstanding 1,470,343 46,310 474,838 46,726 69,137 103,744 213,676 101,512 41,827 23,403 38,495 120,247 190,426
Less: Notes held by F.R. Banks 176,641 4,854 57,761 5,442 8,394 11,700 23,114 10,825 4,942 3,133 4,715 15,410 26,353
Federal Reserve notes, net 1,293,701 41,456 417,078 41,285 60,743 92,044 190,562 90,688 36,885 20,270 33,780 104,838 164,073
Reverse repurchase agreements (13) 241,437 4,884 148,185 5,784 5,271 13,494 13,347 9,868 2,978 1,480 3,180 7,357 25,609
Deposits 2,901,013 62,989 2,080,960 50,535 52,778 136,070 40,385 68,503 9,159 8,182 24,026 37,312 330,114
Term deposits held by depository
institutions 0 0 0 0 0 0 0 0 0 0 0 0 0
Other deposits held by depository
institutions 2,710,273 62,985 1,890,383 50,508 52,774 135,979 40,376 68,490 9,158 8,182 24,024 37,309 330,104
U.S. Treasury, General Account 176,363 0 176,363 0 0 0 0 0 0 0 0 0 0
Foreign official 5,211 2 5,184 3 3 8 2 1 0 0 0 1 6
Other (14) 9,166 2 9,031 24 0 83 6 12 0 0 1 3 4
Deferred availability cash items 798 0 0 0 0 0 605 0 0 193 0 0 0
Interest on Federal Reserve notes due
to U.S. Treasury (15) 1,769 27 1,185 27 18 48 101 75 22 10 22 59 173
Other liabilities and accrued
dividends (16) 3,658 131 1,559 151 156 399 271 229 118 106 98 161 279
Total liabilities 4,442,376 109,487 2,648,968 97,782 118,966 242,056 245,270 169,363 49,162 30,241 61,106 149,727 520,249
Capital
Capital paid in 28,574 1,296 9,208 1,597 2,230 6,557 1,626 767 266 120 300 412 4,196
Surplus 28,574 1,296 9,208 1,597 2,230 6,557 1,626 767 266 120 300 412 4,196
Other capital 0 0 0 0 0 0 0 0 0 0 0 0 0
Total liabilities and capital 4,499,524 112,078 2,667,383 100,975 123,427 255,170 248,522 170,897 49,695 30,481 61,706 150,550 528,640
Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table.
6. Statement of Condition of Each Federal Reserve Bank, January 7, 2015 (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. The current face value shown is the remaining principal balance of the securities.
5. Reflects the premium or discount, which is the difference between the purchase price and the face value of the securities that has not been amortized. For U.S. Treasury and Federal agency debt
securities, amortization is on a straight-line basis. For mortgage-backed securities, amortization is on an effective-interest basis.
6. Cash value of agreements, which are collateralized by U.S. Treasury and federal agency securities.
7. Refer to table 4 and the note on consolidation below.
8. 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. Refer
to the note on consolidation below.
9. Refer to 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. Revalued daily at current foreign currency exchange rates.
12. Includes accrued interest, which represents the daily accumulation of interest earned, and other accounts receivable.
13. Cash value of agreements, which are collateralized by U.S. Treasury securities, federal agency debt securities, and mortgage-backed securities.
14. Includes deposits held at the Reserve Banks by international and multilateral organizations, government-sponsored enterprises, and designated financial market utilities.
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.
Note on consolidation:
The Federal Reserve Bank of New York (FRBNY) 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 June 14, 2012, the remaining outstanding balance of the senior loan from FRBNY to Maiden Lane LLC
was repaid in full, with interest. On November 15, 2012, the remaining outstanding balance of the subordinated loan from JPMorgan Chase & Co. to Maiden Lane LLC was repaid in full, with
interest. 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. had written credit default swap contracts. On June 14, 2012, the loan from FRBNY to Maiden Lane III was repaid in full, with interest. 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 March 1, 2012, the loan from FRBNY to Maiden Lane II was repaid in full, with interest. 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. On January 15, 2013 the FRBNY's commitment to extend credit to TALF LLC was eliminated.
The FRBNY was the primary beneficiary of TALF LLC, because of the two beneficiaries of the LLC, the FRBNY and the U.S. Treasury, the FRBNY was primarily responsible for directing the
financial activities of TALF LLC. The FRBNY was the primary beneficiary of the other LLCs cited above because it received a majority of any residual returns of the LLCs and absorbed a majority of any
residual losses of the LLCs. Consistent with generally accepted accounting principles, the assets and liabilities of these LLCs were 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 were eliminated, the net
assets of the LLCs appeared as assets on the previous page (and in table 1 and table 5), and the liabilities of the LLCs to entities other than the FRBNY, including those with recourse only to
the portfolio holdings of the LLCs, were included in other liabilities in this table (and table 1 and table 5).
7. Collateral Held against Federal Reserve Notes: Federal Reserve Agents' Accounts
Millions of dollars
Federal Reserve notes and collateral Wednesday
Jan 7, 2015
Federal Reserve notes outstanding 1,470,343
Less: Notes held by F.R. Banks not subject to collateralization 176,641
Federal Reserve notes to be collateralized 1,293,701
Collateral held against Federal Reserve notes 1,293,701
Gold certificate account 11,037
Special drawing rights certificate account 5,200
U.S. Treasury, agency debt, and mortgage-backed securities pledged (1,2) 1,277,464
Other assets pledged 0
Memo:
Total U.S. Treasury, agency debt, and mortgage-backed securities (1,2) 4,236,740
Less: Face value of securities under reverse repurchase agreements 218,016
U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 4,018,724
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.
Release dates | Data Download Program (DDP) |
About |
Announcements |
Technical Q&As
Current release Other formats:
Screen reader |
ASCII |
PDF
(21 KB)
Statistical releases