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Release Date: April 9, 2015
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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 April 9, 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 Apr 8, 2015
Federal Reserve Banks Apr 8, 2015 Apr 1, 2015 Apr 9, 2014
Reserve Bank credit 4,444,417 + 556 + 245,993 4,445,177
Securities held outright (1) 4,228,458 + 65 + 253,655 4,228,500
U.S. Treasury securities 2,459,651 + 57 + 135,299 2,459,693
Bills (2) 0 0 0 0
Notes and bonds, nominal (2) 2,346,709 - 1 + 131,105 2,346,709
Notes and bonds, inflation-indexed (2) 98,469 0 + 3,786 98,469
Inflation compensation (3) 14,473 + 57 + 408 14,515
Federal agency debt securities (2) 36,877 0 - 10,466 36,877
Mortgage-backed securities (4) 1,731,930 + 9 + 128,822 1,731,930
Unamortized premiums on securities held outright (5) 202,339 - 362 - 7,124 202,242
Unamortized discounts on securities held outright (5) -17,934 + 31 - 646 -17,923
Repurchase agreements (6) 0 0 0 0
Loans 60 + 24 - 40 32
Primary credit 42 + 19 + 39 15
Secondary credit 0 0 0 0
Seasonal credit 18 + 4 + 3 17
Term Asset-Backed Securities Loan Facility (7) 0 0 - 82 0
Other credit extensions 0 0 0 0
Net portfolio holdings of Maiden Lane LLC (8) 1,691 - 1 + 107 1,691
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 - 94 0
Float -487 + 1 + 166 -485
Central bank liquidity swaps (11) 0 - 810 - 407 0
Other Federal Reserve assets (12) 30,290 + 1,608 + 460 31,120
Foreign currency denominated assets (13) 19,808 + 152 - 4,183 19,592
Gold stock 11,041 0 0 11,041
Special drawing rights certificate account 5,200 0 0 5,200
Treasury currency outstanding (14) 46,601 + 14 + 834 46,601
Total factors supplying reserve funds 4,527,067 + 722 + 242,644 4,527,611
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 Apr 8, 2015
Federal Reserve Banks Apr 8, 2015 Apr 1, 2015 Apr 9, 2014
Currency in circulation (14) 1,361,162 + 3,424 + 90,543 1,363,253
Reverse repurchase agreements (15) 283,713 - 61,395 + 94,824 244,492
Foreign official and international accounts 147,575 - 115 + 53,016 148,049
Others 136,138 - 61,280 + 41,808 96,443
Treasury cash holdings 243 + 40 - 21 230
Deposits with F.R. Banks, other than reserve balances 71,714 - 19,097 - 5,320 61,576
Term deposits held by depository institutions 0 0 0 0
U.S. Treasury, General Account 55,206 - 20,261 - 7,230 44,254
Foreign official 5,230 - 1 - 1,747 5,230
Other (16) 11,277 + 1,163 + 3,656 12,093
Other liabilities and capital (17) 65,738 + 598 + 2,463 65,148
Total factors, other than reserve balances,
absorbing reserve funds 1,782,570 - 76,431 + 182,489 1,734,699
Reserve balances with Federal Reserve Banks 2,744,497 + 77,153 + 60,156 2,792,912
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 Apr 8, 2015
Apr 8, 2015 Apr 1, 2015 Apr 9, 2014
Securities held in custody for foreign official and
international accounts 3,289,760 + 30,269 - 26,307 3,291,826
Marketable U.S. Treasury securities (1) 2,961,539 + 30,321 - 13,319 2,963,778
Federal agency debt and mortgage-backed securities (2) 284,608 - 77 - 13,430 284,509
Other securities (3) 43,614 + 26 + 443 43,539
Securities lent to dealers 11,178 - 1,653 - 1,013 10,661
Overnight facility (4) 11,178 - 1,653 - 1,013 10,661
U.S. Treasury securities 10,804 - 1,619 - 159 10,338
Federal agency debt securities 373 - 35 - 855 323
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, April 8, 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 14 0 0 0 ... 32
U.S. Treasury securities (1)
Holdings 1 1,899 63,822 1,112,884 637,939 643,148 2,459,693
Weekly changes 0 0 0 + 16 + 22 + 76 + 115
Federal agency debt securities (2)
Holdings 982 0 6,638 26,910 0 2,347 36,877
Weekly changes 0 0 0 0 0 0 0
Mortgage-backed securities (3)
Holdings 0 0 0 20 8,648 1,723,262 1,731,930
Weekly changes 0 0 0 + 5 + 284 - 287 + 2
Repurchase agreements (4) 0 0 ... ... ... ... 0
Central bank liquidity swaps (5) 0 0 0 0 0 0 0
Reverse repurchase agreements (4) 244,492 0 ... ... ... ... 244,492
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
Apr 8, 2015
Mortgage-backed securities held outright (1) 1,731,930
Commitments to buy mortgage-backed securities (2) 41,540
Commitments to sell mortgage-backed securities (2) 0
Cash and cash equivalents (3) 5
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
Apr 8, 2015
Net portfolio holdings of Maiden Lane LLC (1) 1,691
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 December 31, 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 Apr 8, 2015 Wednesday Wednesday
consolidation Apr 1, 2015 Apr 9, 2014
Assets
Gold certificate account 11,037 0 0
Special drawing rights certificate account 5,200 0 0
Coin 1,830 - 2 - 99
Securities, unamortized premiums and discounts,
repurchase agreements, and loans 4,412,851 - 204 + 244,071
Securities held outright (1) 4,228,500 + 116 + 251,964
U.S. Treasury securities 2,459,693 + 115 + 133,608
Bills (2) 0 0 0
Notes and bonds, nominal (2) 2,346,709 0 + 130,224
Notes and bonds, inflation-indexed (2) 98,469 0 + 3,080
Inflation compensation (3) 14,515 + 115 + 304
Federal agency debt securities (2) 36,877 0 - 10,466
Mortgage-backed securities (4) 1,731,930 + 2 + 128,822
Unamortized premiums on securities held outright
(5) 202,242 - 323 - 7,247
Unamortized discounts on securities held outright
(5) -17,923 + 30 - 579
Repurchase agreements (6) 0 0 0
Loans 32 - 27 - 67
Net portfolio holdings of Maiden Lane LLC (7) 1,691 0 + 106
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 - 92
Items in process of collection (0) 98 - 12 0
Bank premises 2,242 + 1 - 27
Central bank liquidity swaps (10) 0 - 810 - 407
Foreign currency denominated assets (11) 19,592 + 33 - 4,584
Other assets (12) 28,878 + 2,614 + 350
Total assets (0) 4,483,419 + 1,620 + 239,231
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 Apr 8, 2015 Wednesday Wednesday
consolidation Apr 1, 2015 Apr 9, 2014
Liabilities
Federal Reserve notes, net of F.R. Bank holdings 1,318,707 + 3,448 + 90,940
Reverse repurchase agreements (13) 244,492 - 109,201 + 62,239
Deposits (0) 2,854,488 + 106,446 + 84,343
Term deposits held by depository institutions 0 0 0
Other deposits held by depository institutions 2,792,912 + 125,249 + 95,024
U.S. Treasury, General Account 44,254 - 21,275 - 10,274
Foreign official 5,230 - 11 - 1,747
Other (14) (0) 12,093 + 2,484 + 1,342
Deferred availability cash items (0) 583 - 15 - 137
Other liabilities and accrued dividends (15) 7,470 + 917 + 289
Total liabilities (0) 4,425,741 + 1,597 + 237,675
Capital accounts
Capital paid in 28,839 + 11 + 778
Surplus 28,839 + 11 + 778
Other capital accounts 0 0 0
Total capital 57,678 + 22 + 1,556
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, April 8, 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 1,830 42 70 126 117 301 185 272 25 44 151 181 317
Securities, unamortized premiums and
discounts, repurchase agreements,
and loans 4,412,851 89,276 2,708,428 105,718 96,347 246,635 243,938 180,361 54,429 27,054 58,128 134,460 468,077
Securities held outright (1) 4,228,500 85,535 2,595,299 101,302 92,323 236,334 233,749 172,825 52,156 25,914 55,699 128,844 448,521
U.S. Treasury securities 2,459,693 49,755 1,509,670 58,927 53,704 137,474 135,970 100,531 30,339 15,074 32,400 74,947 260,902
Bills (2) 0 0 0 0 0 0 0 0 0 0 0 0 0
Notes and bonds (3) 2,459,693 49,755 1,509,670 58,927 53,704 137,474 135,970 100,531 30,339 15,074 32,400 74,947 260,902
Federal agency debt securities (2) 36,877 746 22,634 883 805 2,061 2,039 1,507 455 226 486 1,124 3,912
Mortgage-backed securities (4) 1,731,930 35,034 1,062,996 41,492 37,814 96,799 95,740 70,786 21,362 10,614 22,814 52,772 183,708
Unamortized premiums on securities held
outright (5) 202,242 4,091 124,129 4,845 4,416 11,303 11,180 8,266 2,495 1,239 2,664 6,162 21,452
Unamortized discounts on securities
held outright (5) -17,923 -363 -11,001 -429 -391 -1,002 -991 -733 -221 -110 -236 -546 -1,901
Repurchase agreements (6) 0 0 0 0 0 0 0 0 0 0 0 0 0
Loans 32 13 0 0 0 0 0 3 0 10 1 0 5
Net portfolio holdings of Maiden
Lane LLC (7) 1,691 0 1,691 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 98 0 1 0 0 0 97 0 0 0 0 0 0
Bank premises 2,242 124 430 74 109 218 210 202 120 95 240 221 199
Central bank liquidity swaps (10) 0 0 0 0 0 0 0 0 0 0 0 0 0
Foreign currency denominated
assets (11) 19,592 888 6,317 1,095 1,527 4,495 1,115 526 182 82 206 282 2,876
Other assets (12) 28,878 629 17,210 703 646 1,790 1,630 1,195 437 211 417 925 3,084
Interdistrict settlement account 0 + 33,373 - 268,727 + 12,985 + 44,789 + 26,373 + 5,870 - 2,473 + 628 + 7,283 + 9,104 + 26,068 + 104,727
Total assets 4,483,419 124,879 2,471,363 121,249 144,237 281,048 255,047 181,214 56,249 35,033 68,689 163,299 581,112
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, April 8, 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 1,498,217 50,809 474,742 50,155 74,561 104,806 210,259 106,451 45,033 26,947 42,321 121,565 190,566
Less: Notes held by F.R. Banks 179,509 5,166 60,377 5,391 9,794 12,297 22,809 12,037 5,183 3,024 4,955 14,137 24,339
Federal Reserve notes, net 1,318,707 45,643 414,365 44,764 64,768 92,509 187,450 94,414 39,850 23,923 37,367 107,428 166,227
Reverse repurchase agreements (13) 244,492 4,946 150,060 5,857 5,338 13,665 13,515 9,993 3,016 1,498 3,221 7,450 25,933
Deposits 2,854,488 71,518 1,884,136 67,164 69,395 161,105 49,918 74,893 12,683 9,081 27,354 47,331 379,910
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 2,792,912 71,514 1,822,851 67,135 69,392 160,877 49,909 74,890 12,682 9,081 27,353 47,329 379,900
U.S. Treasury, General Account 44,254 0 44,254 0 0 0 0 0 0 0 0 0 0
Foreign official 5,230 2 5,202 2 3 9 2 1 0 0 0 1 6
Other (14) 12,093 3 11,829 26 0 219 7 2 0 0 1 1 4
Deferred availability cash items 583 0 0 0 0 0 446 0 0 136 0 0 0
Interest on Federal Reserve notes due
to U.S. Treasury (15) 2,226 32 1,436 49 45 102 119 86 21 11 27 65 234
Other liabilities and accrued
dividends (16) 5,244 150 2,656 193 212 539 325 255 131 131 116 177 358
Total liabilities 4,425,741 122,289 2,452,652 118,027 139,758 267,921 251,773 179,641 55,700 34,781 68,084 162,451 572,662
Capital
Capital paid in 28,839 1,295 9,356 1,611 2,239 6,564 1,637 786 275 126 302 424 4,225
Surplus 28,839 1,295 9,356 1,611 2,239 6,564 1,637 786 275 126 302 424 4,225
Other capital 0 0 0 0 0 0 0 0 0 0 0 0 0
Total liabilities and capital 4,483,419 124,879 2,471,363 121,249 144,237 281,048 255,047 181,214 56,249 35,033 68,689 163,299 581,112
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, April 8, 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
Apr 8, 2015
Federal Reserve notes outstanding 1,498,217
Less: Notes held by F.R. Banks not subject to collateralization 179,509
Federal Reserve notes to be collateralized 1,318,707
Collateral held against Federal Reserve notes 1,318,707
Gold certificate account 11,037
Special drawing rights certificate account 5,200
U.S. Treasury, agency debt, and mortgage-backed securities pledged (1,2) 1,302,471
Other assets pledged 0
Memo:
Total U.S. Treasury, agency debt, and mortgage-backed securities (1,2) 4,228,500
Less: Face value of securities under reverse repurchase agreements 229,296
U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 3,999,205
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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