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Release Date: May 7, 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 May 7, 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 May 6, 2015
Federal Reserve Banks May 6, 2015 Apr 29, 2015 May 7, 2014
Reserve Bank credit 4,432,961 - 11,256 + 176,792 4,433,819
Securities held outright (1) 4,214,880 - 10,367 + 185,976 4,214,936
U.S. Treasury securities 2,460,126 + 134 + 108,062 2,460,182
Bills (2) 0 0 0 0
Notes and bonds, nominal (2) 2,346,643 - 66 + 104,563 2,346,643
Notes and bonds, inflation-indexed (2) 98,534 + 66 + 3,145 98,534
Inflation compensation (3) 14,949 + 133 + 354 15,005
Federal agency debt securities (2) 35,895 0 - 9,070 35,895
Mortgage-backed securities (4) 1,718,860 - 10,500 + 86,985 1,718,860
Unamortized premiums on securities held outright (5) 200,628 - 684 - 8,917 200,492
Unamortized discounts on securities held outright (5) -17,792 + 35 - 38 -17,780
Repurchase agreements (6) 0 0 0 0
Loans 68 + 1 - 61 61
Primary credit 14 - 19 + 2 1
Secondary credit 0 0 0 0
Seasonal credit 55 + 20 + 19 60
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) 1,688 - 5 + 34 1,686
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 -481 - 11 + 180 -567
Central bank liquidity swaps (11) 0 0 - 300 0
Other Federal Reserve assets (12) 33,970 - 224 + 95 34,991
Foreign currency denominated assets (13) 20,051 + 281 - 4,187 20,205
Gold stock 11,041 0 0 11,041
Special drawing rights certificate account 5,200 0 0 5,200
Treasury currency outstanding (14) 46,694 + 14 + 863 46,694
Total factors supplying reserve funds 4,515,948 - 10,961 + 173,469 4,516,960
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 6, 2015
Federal Reserve Banks May 6, 2015 Apr 29, 2015 May 7, 2014
Currency in circulation (14) 1,361,864 + 3,047 + 88,704 1,364,288
Reverse repurchase agreements (15) 250,561 + 7,735 - 50,884 234,933
Foreign official and international accounts 156,376 - 1,205 + 44,063 150,211
Others 94,185 + 8,940 - 94,948 84,722
Treasury cash holdings 229 + 6 + 1 227
Deposits with F.R. Banks, other than reserve balances 241,792 - 23,055 + 135,934 242,322
Term deposits held by depository institutions 0 0 0 0
U.S. Treasury, General Account 227,506 + 7,804 + 136,109 229,131
Foreign official 5,230 - 7 - 2,553 5,230
Other (16) 9,056 - 30,852 + 2,378 7,961
Other liabilities and capital (17) 66,100 - 318 + 1,932 65,133
Total factors, other than reserve balances,
absorbing reserve funds 1,920,545 - 12,586 + 175,686 1,906,903
Reserve balances with Federal Reserve Banks 2,595,402 + 1,625 - 2,219 2,610,056
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 May 6, 2015
May 6, 2015 Apr 29, 2015 May 7, 2014
Securities held in custody for foreign official and
international accounts 3,313,042 + 24,455 + 28,402 3,315,457
Marketable U.S. Treasury securities (1) 2,983,691 + 22,323 + 34,444 2,985,859
Federal agency debt and mortgage-backed securities (2) 284,605 + 795 - 8,633 284,686
Other securities (3) 44,747 + 1,338 + 2,592 44,913
Securities lent to dealers 11,306 + 2,522 + 195 12,469
Overnight facility (4) 11,306 + 2,522 + 195 12,469
U.S. Treasury securities 11,004 + 2,498 + 844 12,192
Federal agency debt securities 301 + 23 - 650 277
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, May 6, 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 12 49 0 0 0 ... 61
U.S. Treasury securities (1)
Holdings 1,448 2 91,583 1,090,704 632,974 643,472 2,460,182
Weekly changes + 998 - 1,447 + 27,371 - 21,840 - 5,031 + 98 + 148
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 25 9,514 1,709,320 1,718,860
Weekly changes 0 0 0 + 6 + 721 - 718 + 10
Repurchase agreements (4) 0 0 ... ... ... ... 0
Central bank liquidity swaps (5) 0 0 0 0 0 0 0
Reverse repurchase agreements (4) 234,933 0 ... ... ... ... 234,933
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
May 6, 2015
Mortgage-backed securities held outright (1) 1,718,860
Commitments to buy mortgage-backed securities (2) 50,193
Commitments to sell mortgage-backed securities (2) 0
Cash and cash equivalents (3) 21
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
May 6, 2015
Net portfolio holdings of Maiden Lane LLC (1) 1,686
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 May 6, 2015 Wednesday Wednesday
consolidation Apr 29, 2015 May 7, 2014
Assets
Gold certificate account 11,037 0 0
Special drawing rights certificate account 5,200 0 0
Coin 1,811 + 10 - 90
Securities, unamortized premiums and discounts,
repurchase agreements, and loans 4,397,709 - 180 + 174,088
Securities held outright (1) 4,214,936 + 157 + 183,180
U.S. Treasury securities 2,460,182 + 148 + 105,266
Bills (2) 0 0 0
Notes and bonds, nominal (2) 2,346,643 - 66 + 101,770
Notes and bonds, inflation-indexed (2) 98,534 + 66 + 3,145
Inflation compensation (3) 15,005 + 147 + 351
Federal agency debt securities (2) 35,895 0 - 9,070
Mortgage-backed securities (4) 1,718,860 + 10 + 86,985
Unamortized premiums on securities held outright
(5) 200,492 - 368 - 9,000
Unamortized discounts on securities held outright
(5) -17,780 + 31 + 5
Repurchase agreements (6) 0 0 0
Loans 61 0 - 97
Net portfolio holdings of Maiden Lane LLC (7) 1,686 - 3 + 32
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 - 91
Items in process of collection (0) 64 + 5 - 11
Bank premises 2,239 - 5 - 27
Central bank liquidity swaps (10) 0 0 - 300
Foreign currency denominated assets (11) 20,205 + 148 - 4,100
Other assets (12) 32,752 + 1,230 + 145
Total assets (0) 4,472,703 + 1,204 + 169,560
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 May 6, 2015 Wednesday Wednesday
consolidation Apr 29, 2015 May 7, 2014
Liabilities
Federal Reserve notes, net of F.R. Bank holdings 1,319,628 + 3,645 + 88,268
Reverse repurchase agreements (13) 234,933 - 14,954 - 65,262
Deposits (0) 2,852,378 + 12,660 + 145,091
Term deposits held by depository institutions 0 0 0
Other deposits held by depository institutions 2,610,056 + 28,989 + 13,007
U.S. Treasury, General Account 229,131 - 16,295 + 132,133
Foreign official 5,230 - 3 - 2,547
Other (14) (0) 7,961 - 31 + 2,498
Deferred availability cash items (0) 631 + 82 - 144
Other liabilities and accrued dividends (15) 7,399 - 262 + 90
Total liabilities (0) 4,414,969 + 1,172 + 168,044
Capital accounts
Capital paid in 28,867 + 16 + 758
Surplus 28,867 + 16 + 758
Other capital accounts 0 0 0
Total capital 57,734 + 32 + 1,517
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, May 6, 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 1,811 37 69 123 121 293 191 269 24 45 148 177 313
Securities, unamortized premiums and
discounts, repurchase agreements,
and loans 4,397,709 111,478 2,639,961 109,377 105,730 238,852 247,650 163,401 45,861 26,778 57,135 141,665 509,822
Securities held outright (1) 4,214,936 106,847 2,530,277 104,832 101,337 228,928 237,352 156,604 43,955 25,634 54,754 135,777 488,640
U.S. Treasury securities 2,460,182 62,364 1,476,877 61,189 59,149 133,621 138,538 91,407 25,656 14,962 31,959 79,250 285,210
Bills (2) 0 0 0 0 0 0 0 0 0 0 0 0 0
Notes and bonds (3) 2,460,182 62,364 1,476,877 61,189 59,149 133,621 138,538 91,407 25,656 14,962 31,959 79,250 285,210
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) 1,718,860 43,572 1,031,852 42,751 41,325 93,357 96,793 63,863 17,925 10,453 22,329 55,370 199,268
Unamortized premiums on securities held
outright (5) 200,492 5,082 120,358 4,987 4,820 10,889 11,290 7,449 2,091 1,219 2,604 6,458 23,243
Unamortized discounts on securities
held outright (5) -17,780 -451 -10,674 -442 -427 -966 -1,001 -661 -185 -108 -231 -573 -2,061
Repurchase agreements (6) 0 0 0 0 0 0 0 0 0 0 0 0 0
Loans 61 0 0 0 0 0 9 9 0 33 7 2 1
Net portfolio holdings of Maiden
Lane LLC (7) 1,686 0 1,686 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 64 0 0 0 0 0 63 0 0 0 0 0 0
Bank premises 2,239 124 431 74 109 217 210 202 120 94 240 221 198
Central bank liquidity swaps (10) 0 0 0 0 0 0 0 0 0 0 0 0 0
Foreign currency denominated
assets (11) 20,205 916 6,515 1,129 1,575 4,636 1,149 543 188 85 213 291 2,966
Other assets (12) 32,752 871 19,147 827 801 1,957 1,874 1,235 439 238 465 1,093 3,803
Interdistrict settlement account 0 + 13,788 - 68,828 + 5,022 + 15,395 - 1,167 - 10,345 + 1,394 + 3,701 + 4,750 + 4,409 + 9,408 + 22,474
Total assets 4,472,703 127,757 2,604,508 117,102 124,472 245,983 243,046 168,202 50,783 32,251 63,050 154,028 541,520
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, May 6, 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 1,499,935 50,482 478,123 50,622 77,703 104,122 209,390 106,568 44,774 26,764 41,971 120,586 188,830
Less: Notes held by F.R. Banks 180,307 5,388 60,512 5,372 9,523 12,202 23,369 11,549 5,025 2,950 5,034 14,000 25,384
Federal Reserve notes, net 1,319,628 45,094 417,611 45,250 68,180 91,919 186,021 95,019 39,750 23,814 36,937 106,586 163,446
Reverse repurchase agreements (13) 234,933 5,955 141,033 5,843 5,648 12,760 13,230 8,729 2,450 1,429 3,052 7,568 27,236
Deposits 2,852,378 73,886 2,023,429 62,528 45,883 127,437 39,615 62,532 7,872 6,406 22,312 38,769 341,711
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 2,610,056 73,882 1,781,343 62,503 45,880 127,261 39,606 62,529 7,872 6,406 22,310 38,763 341,701
U.S. Treasury, General Account 229,131 0 229,131 0 0 0 0 0 0 0 0 0 0
Foreign official 5,230 2 5,203 2 3 9 2 1 0 0 0 1 6
Other (14) 7,961 2 7,751 22 0 166 7 2 0 0 1 5 4
Deferred availability cash items 631 0 0 0 0 0 430 0 0 200 0 0 0
Interest on Federal Reserve notes due
to U.S. Treasury (15) 2,445 62 1,472 58 60 155 136 91 21 13 27 74 279
Other liabilities and accrued
dividends 4,953 163 2,252 202 221 571 335 254 133 135 118 182 388
Total liabilities 4,414,969 125,160 2,585,797 113,881 119,993 232,842 239,767 166,625 50,226 31,996 62,445 153,178 533,059
Capital
Capital paid in 28,867 1,299 9,356 1,610 2,240 6,570 1,640 789 278 128 302 425 4,231
Surplus 28,867 1,299 9,356 1,610 2,240 6,570 1,640 789 278 128 302 425 4,231
Other capital 0 0 0 0 0 0 0 0 0 0 0 0 0
Total liabilities and capital 4,472,703 127,757 2,604,508 117,102 124,472 245,983 243,046 168,202 50,783 32,251 63,050 154,028 541,520
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, May 6, 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
May 6, 2015
Federal Reserve notes outstanding 1,499,935
Less: Notes held by F.R. Banks not subject to collateralization 180,307
Federal Reserve notes to be collateralized 1,319,628
Collateral held against Federal Reserve notes 1,319,628
Gold certificate account 11,037
Special drawing rights certificate account 5,200
U.S. Treasury, agency debt, and mortgage-backed securities pledged (1,2) 1,303,391
Other assets pledged 0
Memo:
Total U.S. Treasury, agency debt, and mortgage-backed securities (1,2) 4,214,936
Less: Face value of securities under reverse repurchase agreements 221,820
U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 3,993,116
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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