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Release Date: April 30, 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 30, 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 29, 2015
Federal Reserve Banks Apr 29, 2015 Apr 22, 2015 Apr 30, 2014
Reserve Bank credit 4,444,217 - 3,154 + 193,695 4,432,854
Securities held outright (1) 4,225,247 - 3,791 + 201,361 4,214,779
U.S. Treasury securities 2,459,992 + 114 + 113,984 2,460,034
Bills (2) 0 0 0 0
Notes and bonds, nominal (2) 2,346,709 0 + 110,549 2,346,709
Notes and bonds, inflation-indexed (2) 98,468 0 + 3,079 98,468
Inflation compensation (3) 14,816 + 115 + 357 14,858
Federal agency debt securities (2) 35,895 0 - 9,070 35,895
Mortgage-backed securities (4) 1,729,360 - 3,905 + 96,448 1,718,850
Unamortized premiums on securities held outright (5) 201,312 - 494 - 8,544 200,860
Unamortized discounts on securities held outright (5) -17,827 + 35 - 176 -17,811
Repurchase agreements (6) 0 0 0 0
Loans 67 + 21 - 94 61
Primary credit 33 + 20 - 26 19
Secondary credit 0 0 0 0
Seasonal credit 35 + 2 + 14 42
Term Asset-Backed Securities Loan Facility (7) 0 0 - 81 0
Other credit extensions 0 0 0 0
Net portfolio holdings of Maiden Lane LLC (8) 1,693 - 1 + 98 1,689
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 - 92 0
Float -470 - 15 + 109 -490
Central bank liquidity swaps (11) 0 0 - 300 0
Other Federal Reserve assets (12) 34,194 + 1,091 + 1,416 33,766
Foreign currency denominated assets (13) 19,770 + 193 - 4,398 20,057
Gold stock 11,041 0 0 11,041
Special drawing rights certificate account 5,200 0 0 5,200
Treasury currency outstanding (14) 46,680 + 14 + 866 46,680
Total factors supplying reserve funds 4,526,909 - 2,945 + 190,163 4,515,833
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 29, 2015
Federal Reserve Banks Apr 29, 2015 Apr 22, 2015 Apr 30, 2014
Currency in circulation (14) 1,358,817 - 885 + 88,178 1,360,637
Reverse repurchase agreements (15) 242,826 - 17,342 - 42,805 249,887
Foreign official and international accounts 157,581 + 1,528 + 46,910 157,663
Others 85,245 - 18,870 - 89,715 92,224
Treasury cash holdings 223 - 9 - 13 229
Deposits with F.R. Banks, other than reserve balances 264,847 + 100,391 + 157,665 258,650
Term deposits held by depository institutions 0 0 0 0
U.S. Treasury, General Account 219,702 + 69,674 + 135,576 245,426
Foreign official 5,237 - 1 - 2,549 5,233
Other (16) 39,908 + 30,719 + 24,639 7,992
Other liabilities and capital (17) 66,418 + 169 + 2,778 65,362
Total factors, other than reserve balances,
absorbing reserve funds 1,933,131 + 82,324 + 205,802 1,934,765
Reserve balances with Federal Reserve Banks 2,593,777 - 85,270 - 15,641 2,581,067
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 29, 2015
Apr 29, 2015 Apr 22, 2015 Apr 30, 2014
Securities held in custody for foreign official and
international accounts 3,288,587 - 52 + 9,390 3,293,771
Marketable U.S. Treasury securities (1) 2,961,368 - 2,670 + 17,190 2,966,134
Federal agency debt and mortgage-backed securities (2) 283,810 + 3,039 - 9,356 284,135
Other securities (3) 43,409 - 421 + 1,556 43,502
Securities lent to dealers 8,784 - 808 - 2,110 10,396
Overnight facility (4) 8,784 - 808 - 2,110 10,396
U.S. Treasury securities 8,506 - 777 - 1,401 10,126
Federal agency debt securities 278 - 32 - 709 270
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 29, 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 60 1 0 0 0 ... 61
U.S. Treasury securities (1)
Holdings 450 1,449 64,212 1,112,544 638,005 643,374 2,460,034
Weekly changes 0 0 + 1 + 16 + 22 + 75 + 114
Federal agency debt securities (2)
Holdings 0 802 7,997 24,749 0 2,347 35,895
Weekly changes 0 0 0 0 0 0 0
Mortgage-backed securities (3)
Holdings 0 0 0 19 8,793 1,710,038 1,718,850
Weekly changes 0 0 0 - 1 - 176 - 18,043 - 18,220
Repurchase agreements (4) 0 0 ... ... ... ... 0
Central bank liquidity swaps (5) 0 0 0 0 0 0 0
Reverse repurchase agreements (4) 249,887 0 ... ... ... ... 249,887
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 29, 2015
Mortgage-backed securities held outright (1) 1,718,850
Commitments to buy mortgage-backed securities (2) 41,484
Commitments to sell mortgage-backed securities (2) 0
Cash and cash equivalents (3) 36
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 29, 2015
Net portfolio holdings of Maiden Lane LLC (1) 1,689
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 March 31, 2015. 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 29, 2015 Wednesday Wednesday
consolidation Apr 22, 2015 Apr 30, 2014
Assets
Gold certificate account 11,037 0 0
Special drawing rights certificate account 5,200 0 0
Coin 1,801 - 8 - 96
Securities, unamortized premiums and discounts,
repurchase agreements, and loans 4,397,889 - 18,983 + 178,612
Securities held outright (1) 4,214,779 - 18,106 + 187,667
U.S. Treasury securities 2,460,034 + 114 + 109,762
Bills (2) 0 0 0
Notes and bonds, nominal (2) 2,346,709 0 + 106,320
Notes and bonds, inflation-indexed (2) 98,468 0 + 3,079
Inflation compensation (3) 14,858 + 115 + 364
Federal agency debt securities (2) 35,895 0 - 9,070
Mortgage-backed securities (4) 1,718,850 - 18,220 + 86,975
Unamortized premiums on securities held outright
(5) 200,860 - 915 - 8,887
Unamortized discounts on securities held outright
(5) -17,811 + 39 - 108
Repurchase agreements (6) 0 0 0
Loans 61 0 - 60
Net portfolio holdings of Maiden Lane LLC (7) 1,689 - 5 + 35
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) 59 - 21 - 33
Bank premises 2,244 - 1 - 30
Central bank liquidity swaps (10) 0 0 - 300
Foreign currency denominated assets (11) 20,057 + 557 - 4,168
Other assets (12) 31,522 + 263 + 1,605
Total assets (0) 4,471,499 - 18,196 + 175,450
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 29, 2015 Wednesday Wednesday
consolidation Apr 22, 2015 Apr 30, 2014
Liabilities
Federal Reserve notes, net of F.R. Bank holdings 1,315,983 + 945 + 87,275
Reverse repurchase agreements (13) 249,887 - 25,503 - 75,611
Deposits (0) 2,839,718 + 7,379 + 161,453
Term deposits held by depository institutions 0 0 0
Other deposits held by depository institutions 2,581,067 - 36,313 + 66,629
U.S. Treasury, General Account 245,426 + 44,353 + 97,083
Foreign official 5,233 + 2 - 2,593
Other (14) (0) 7,992 - 664 + 333
Deferred availability cash items (0) 549 - 5 - 314
Other liabilities and accrued dividends (15) 7,661 - 1,012 + 1,073
Total liabilities (0) 4,413,797 - 18,196 + 173,875
Capital accounts
Capital paid in 28,851 0 + 787
Surplus 28,851 0 + 787
Other capital accounts 0 0 0
Total capital 57,702 0 + 1,575
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 29, 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 11,037 347 3,709 340 505 783 1,600 734 299 171 288 891 1,370
Special drawing rights certificate acct. 5,200 196 1,818 210 237 412 654 424 150 90 153 282 574
Coin 1,801 38 70 124 119 293 187 268 23 46 148 177 310
Securities, unamortized premiums and
discounts, repurchase agreements,
and loans 4,397,889 111,488 2,640,074 109,383 105,734 238,867 247,660 163,406 45,863 26,767 57,136 141,669 509,843
Securities held outright (1) 4,214,779 106,843 2,530,183 104,829 101,333 228,920 237,343 156,598 43,954 25,633 54,752 135,772 488,621
U.S. Treasury securities 2,460,034 62,361 1,476,788 61,185 59,145 133,613 138,530 91,401 25,654 14,961 31,957 79,246 285,193
Bills (2) 0 0 0 0 0 0 0 0 0 0 0 0 0
Notes and bonds (3) 2,460,034 62,361 1,476,788 61,185 59,145 133,613 138,530 91,401 25,654 14,961 31,957 79,246 285,193
Federal agency debt securities (2) 35,895 910 21,548 893 863 1,950 2,021 1,334 374 218 466 1,156 4,161
Mortgage-backed securities (4) 1,718,850 43,572 1,031,846 42,751 41,325 93,357 96,792 63,863 17,925 10,453 22,329 55,370 199,267
Unamortized premiums on securities held
outright (5) 200,860 5,092 120,578 4,996 4,829 10,909 11,311 7,463 2,095 1,222 2,609 6,470 23,286
Unamortized discounts on securities
held outright (5) -17,811 -451 -10,692 -443 -428 -967 -1,003 -662 -186 -108 -231 -574 -2,065
Repurchase agreements (6) 0 0 0 0 0 0 0 0 0 0 0 0 0
Loans 61 5 5 2 0 5 9 8 0 21 5 0 1
Net portfolio holdings of Maiden
Lane LLC (7) 1,689 0 1,689 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 59 0 0 0 0 0 59 0 0 0 0 0 0
Bank premises 2,244 122 433 74 109 217 210 203 120 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) 20,057 909 6,467 1,121 1,563 4,602 1,141 539 187 84 211 289 2,945
Other assets (12) 31,522 837 18,368 795 771 1,911 1,794 1,181 412 223 446 1,132 3,652
Interdistrict settlement account 0 + 16,804 - 33,988 + 2,203 + 13,823 + 5,713 - 13,906 + 1,616 + 3,483 + 5,049 + 4,126 + 5,066 - 9,989
Total assets 4,471,499 130,741 2,638,639 114,249 122,862 252,798 239,399 168,371 50,536 32,525 62,748 149,727 508,903
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 29, 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 1,498,457 50,537 475,834 50,648 77,473 104,049 209,647 106,553 44,741 26,786 42,019 120,803 189,366
Less: Notes held by F.R. Banks 182,474 5,466 60,019 5,608 9,654 12,650 23,824 11,764 5,145 3,033 5,161 14,365 25,787
Federal Reserve notes, net 1,315,983 45,071 415,815 45,041 67,819 91,399 185,823 94,789 39,596 23,753 36,859 106,439 163,580
Reverse repurchase agreements (13) 249,887 6,334 150,010 6,215 6,008 13,572 14,072 9,284 2,606 1,520 3,246 8,050 28,969
Deposits 2,839,718 76,509 2,050,279 59,491 44,247 133,872 35,431 62,381 7,642 6,630 21,891 34,140 307,205
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 2,581,067 76,505 1,791,885 59,466 44,244 133,675 35,422 62,378 7,641 6,630 21,889 34,138 307,195
U.S. Treasury, General Account 245,426 0 245,426 0 0 0 0 0 0 0 0 0 0
Foreign official 5,233 2 5,205 2 3 9 2 1 0 0 0 1 6
Other (14) 7,992 3 7,763 23 0 188 7 2 0 0 1 2 4
Deferred availability cash items 549 0 0 0 0 0 327 0 0 222 0 0 0
Interest on Federal Reserve notes due
to U.S. Treasury (15) 2,259 60 1,227 74 84 206 134 72 18 12 27 63 281
Other liabilities and accrued
dividends 5,402 174 2,596 207 225 612 344 268 126 133 120 188 409
Total liabilities 4,413,797 128,149 2,619,928 111,029 118,384 239,661 236,131 166,794 49,987 32,270 62,143 148,879 500,443
Capital
Capital paid in 28,851 1,296 9,356 1,610 2,239 6,569 1,634 788 275 128 302 424 4,230
Surplus 28,851 1,296 9,356 1,610 2,239 6,569 1,634 788 275 128 302 424 4,230
Other capital 0 0 0 0 0 0 0 0 0 0 0 0 0
Total liabilities and capital 4,471,499 130,741 2,638,639 114,249 122,862 252,798 239,399 168,371 50,536 32,525 62,748 149,727 508,903
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 29, 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 29, 2015
Federal Reserve notes outstanding 1,498,457
Less: Notes held by F.R. Banks not subject to collateralization 182,474
Federal Reserve notes to be collateralized 1,315,983
Collateral held against Federal Reserve notes 1,315,983
Gold certificate account 11,037
Special drawing rights certificate account 5,200
U.S. Treasury, agency debt, and mortgage-backed securities pledged (1,2) 1,299,746
Other assets pledged 0
Memo:
Total U.S. Treasury, agency debt, and mortgage-backed securities (1,2) 4,214,779
Less: Face value of securities under reverse repurchase agreements 240,119
U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 3,974,660
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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