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Release Date: September 17, 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 September 17, 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 Sep 16, 2015
Federal Reserve Banks Sep 16, 2015 Sep 9, 2015 Sep 17, 2014
Reserve Bank credit 4,445,594 + 6,560 + 37,979 4,449,222
Securities held outright (1) 4,238,401 + 4,674 + 51,855 4,242,157
U.S. Treasury securities 2,461,944 + 2 + 18,246 2,461,944
Bills (2) 0 0 0 0
Notes and bonds, nominal (2) 2,346,640 0 + 17,715 2,346,640
Notes and bonds, inflation-indexed (2) 98,534 0 + 346 98,534
Inflation compensation (3) 16,770 + 2 + 186 16,770
Federal agency debt securities (2) 35,093 0 - 6,024 35,093
Mortgage-backed securities (4) 1,741,365 + 4,673 + 39,634 1,745,119
Unamortized premiums on securities held outright (5) 194,580 - 119 - 15,163 194,636
Unamortized discounts on securities held outright (5) -17,183 + 31 + 1,460 -17,167
Repurchase agreements (6) 0 0 0 0
Loans 254 + 13 - 48 264
Primary credit 6 + 4 + 3 9
Secondary credit 0 0 0 0
Seasonal credit 248 + 9 - 17 255
Term Asset-Backed Securities Loan Facility (7) 0 0 - 34 0
Other credit extensions 0 0 0 0
Net portfolio holdings of Maiden Lane LLC (8) 1,703 0 + 39 1,702
Net portfolio holdings of Maiden Lane II LLC (9) 0 0 - 36 0
Net portfolio holdings of Maiden Lane III LLC (9) 0 0 - 12 0
Net portfolio holdings of TALF LLC (10) 0 0 - 44 0
Float -43 - 110 + 573 -70
Central bank liquidity swaps (11) 144 + 8 + 69 145
Other Federal Reserve assets (12) 27,737 + 2,063 - 714 27,553
Foreign currency denominated assets (13) 20,103 + 131 - 2,716 20,093
Gold stock 11,041 0 0 11,041
Special drawing rights certificate account 5,200 0 0 5,200
Treasury currency outstanding (14) 47,093 + 14 + 955 47,093
Total factors supplying reserve funds 4,529,032 + 6,706 + 36,220 4,532,649
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 Sep 16, 2015
Federal Reserve Banks Sep 16, 2015 Sep 9, 2015 Sep 17, 2014
Currency in circulation (14) 1,385,144 - 624 + 95,780 1,384,773
Reverse repurchase agreements (15) 229,578 + 3,527 - 21,233 236,017
Foreign official and international accounts 157,216 - 3,161 + 56,837 153,836
Others 72,362 + 6,688 - 78,069 82,181
Treasury cash holdings 161 0 - 3 144
Deposits with F.R. Banks, other than reserve balances 150,717 + 37,729 + 61,128 202,590
Term deposits held by depository institutions 0 0 0 0
U.S. Treasury, General Account 117,411 + 31,619 + 50,994 179,990
Foreign official 5,257 - 87 + 11 5,270
Other (16) 28,049 + 6,197 + 10,123 17,329
Other liabilities and capital (17) 66,920 + 790 + 2,032 65,361
Total factors, other than reserve balances,
absorbing reserve funds 1,832,520 + 41,422 + 137,704 1,888,885
Reserve balances with Federal Reserve Banks 2,696,511 - 34,717 - 101,485 2,643,764
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 Sep 16, 2015
Sep 16, 2015 Sep 9, 2015 Sep 17, 2014
Securities held in custody for foreign official and
international accounts 3,337,299 + 2,236 - 9,842 3,350,306
Marketable U.S. Treasury securities (1) 3,008,096 + 3,068 - 13,792 3,021,781
Federal agency debt and mortgage-backed securities (2) 284,375 - 952 + 1,682 283,564
Other securities (3) 44,828 + 119 + 2,269 44,961
Securities lent to dealers 13,238 + 702 + 2,993 13,027
Overnight facility (4) 13,238 + 702 + 2,993 13,027
U.S. Treasury securities 13,190 + 699 + 3,672 12,979
Federal agency debt securities 48 + 3 - 680 48
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, September 16, 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 256 8 0 0 0 ... 264
U.S. Treasury securities (1)
Holdings 1 327 166,961 1,133,906 522,712 638,038 2,461,944
Weekly changes + 1 0 0 0 0 + 1 + 1
Federal agency debt securities (2)
Holdings 0 2,149 12,452 18,145 0 2,347 35,093
Weekly changes 0 0 + 2,000 - 2,000 0 0 0
Mortgage-backed securities (3)
Holdings 0 0 0 151 9,319 1,735,650 1,745,119
Weekly changes 0 0 0 0 - 40 + 8,454 + 8,413
Repurchase agreements (4) 0 0 ... ... ... ... 0
Central bank liquidity swaps (5) 145 0 0 0 0 0 145
Reverse repurchase agreements (4) 236,017 0 ... ... ... ... 236,017
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
Sep 16, 2015
Mortgage-backed securities held outright (1) 1,745,119
Commitments to buy mortgage-backed securities (2) 30,577
Commitments to sell mortgage-backed securities (2) 850
Cash and cash equivalents (3) 110
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
Sep 16, 2015
Net portfolio holdings of Maiden Lane LLC (1) 1,702
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 June 30, 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 Sep 16, 2015 Wednesday Wednesday
consolidation Sep 9, 2015 Sep 17, 2014
Assets
Gold certificate account 11,037 0 0
Special drawing rights certificate account 5,200 0 0
Coin 1,901 + 12 - 32
Securities, unamortized premiums and discounts,
repurchase agreements, and loans 4,419,891 + 8,490 + 41,504
Securities held outright (1) 4,242,157 + 8,415 + 55,082
U.S. Treasury securities 2,461,944 + 1 + 15,372
Bills (2) 0 0 0
Notes and bonds, nominal (2) 2,346,640 0 + 14,837
Notes and bonds, inflation-indexed (2) 98,534 0 + 346
Inflation compensation (3) 16,770 + 1 + 189
Federal agency debt securities (2) 35,093 0 - 4,913
Mortgage-backed securities (4) 1,745,119 + 8,413 + 44,622
Unamortized premiums on securities held outright
(5) 194,636 + 19 - 15,058
Unamortized discounts on securities held outright
(5) -17,167 + 38 + 1,533
Repurchase agreements (6) 0 0 0
Loans 264 + 17 - 53
Net portfolio holdings of Maiden Lane LLC (7) 1,702 - 1 + 38
Net portfolio holdings of Maiden Lane II LLC (8) 0 0 0
Net portfolio holdings of Maiden Lane III LLC (8) 0 0 0
Net portfolio holdings of TALF LLC (9) 0 0 - 44
Items in process of collection (0) 287 - 124 + 203
Bank premises 2,235 + 1 - 24
Central bank liquidity swaps (10) 145 + 9 + 70
Foreign currency denominated assets (11) 20,093 + 172 - 2,697
Other assets (12) 25,318 + 1,037 - 797
Total assets (0) 4,487,809 + 9,596 + 38,221
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 Sep 16, 2015 Wednesday Wednesday
consolidation Sep 9, 2015 Sep 17, 2014
Liabilities
Federal Reserve notes, net of F.R. Bank holdings 1,339,721 - 2,418 + 94,762
Reverse repurchase agreements (13) 236,017 + 7,965 - 16,207
Deposits (0) 2,846,354 + 4,044 - 42,445
Term deposits held by depository institutions 0 0 0
Other deposits held by depository institutions 2,643,764 - 90,886 - 108,144
U.S. Treasury, General Account 179,990 + 103,734 + 56,025
Foreign official 5,270 + 15 + 26
Other (14) (0) 17,329 - 8,820 + 9,647
Deferred availability cash items (0) 356 - 106 - 296
Other liabilities and accrued dividends (15) 7,073 + 111 + 466
Total liabilities (0) 4,429,521 + 9,597 + 36,280
Capital accounts
Capital paid in 29,144 0 + 971
Surplus 29,144 0 + 971
Other capital accounts 0 0 0
Total capital 58,288 0 + 1,941
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, September 16, 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 1,901 48 64 134 134 299 197 274 32 44 152 199 324
Securities, unamortized premiums and
discounts, repurchase agreements,
and loans 4,419,891 112,035 2,653,156 109,923 106,258 240,046 248,902 164,229 46,152 27,014 57,425 142,379 512,370
Securities held outright (1) 4,242,157 107,537 2,546,618 105,509 101,992 230,407 238,885 157,615 44,239 25,799 55,108 136,654 491,795
U.S. Treasury securities 2,461,944 62,409 1,477,935 61,233 59,191 133,717 138,637 91,472 25,674 14,973 31,982 79,307 285,414
Bills (2) 0 0 0 0 0 0 0 0 0 0 0 0 0
Notes and bonds (3) 2,461,944 62,409 1,477,935 61,233 59,191 133,717 138,637 91,472 25,674 14,973 31,982 79,307 285,414
Federal agency debt securities (2) 35,093 890 21,067 873 844 1,906 1,976 1,304 366 213 456 1,130 4,068
Mortgage-backed securities (4) 1,745,119 44,238 1,047,616 43,404 41,957 94,784 98,271 64,839 18,199 10,613 22,670 56,216 202,313
Unamortized premiums on securities held
outright (5) 194,636 4,934 116,842 4,841 4,680 10,571 10,960 7,232 2,030 1,184 2,528 6,270 22,564
Unamortized discounts on securities
held outright (5) -17,167 -435 -10,305 -427 -413 -932 -967 -638 -179 -104 -223 -553 -1,990
Repurchase agreements (6) 0 0 0 0 0 0 0 0 0 0 0 0 0
Loans 264 0 1 0 0 0 24 21 62 135 12 9 1
Net portfolio holdings of Maiden
Lane LLC (7) 1,702 0 1,702 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 287 0 0 0 0 0 286 0 0 0 0 0 0
Bank premises 2,235 127 436 73 107 215 208 204 118 93 238 220 196
Central bank liquidity swaps (10) 145 7 47 8 11 33 8 4 1 1 2 2 21
Foreign currency denominated
assets (11) 20,093 911 6,478 1,123 1,566 4,610 1,143 540 187 84 211 289 2,950
Other assets (12) 25,318 675 14,648 637 617 1,525 1,425 950 480 180 365 879 2,936
Interdistrict settlement account 0 - 23,038 - 63,437 + 8,036 + 23,605 + 40,893 - 10,313 + 7,992 + 10,515 + 4,332 + 2,133 + 8,372 - 9,090
Total assets 4,487,809 91,309 2,618,622 120,484 133,040 288,816 244,111 175,351 57,934 32,010 60,967 153,514 511,651
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, September 16, 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 1,525,466 48,778 499,626 50,168 82,939 105,710 212,501 105,479 52,598 26,955 41,368 116,998 182,346
Less: Notes held by F.R. Banks 185,745 6,103 57,861 6,928 10,055 12,883 24,422 11,975 5,052 3,176 4,797 14,850 27,643
Federal Reserve notes, net 1,339,721 42,675 441,765 43,240 72,884 92,828 188,079 93,503 47,546 23,779 36,571 102,148 154,702
Reverse repurchase agreements (13) 236,017 5,983 141,684 5,870 5,674 12,819 13,291 8,769 2,461 1,435 3,066 7,603 27,362
Deposits 2,846,354 39,826 2,012,444 67,883 49,725 169,344 38,789 71,166 7,213 6,234 20,561 42,647 320,522
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 2,643,764 39,812 1,817,264 67,879 49,722 169,197 38,779 63,981 7,177 6,233 20,560 42,645 320,514
U.S. Treasury, General Account 179,990 0 179,990 0 0 0 0 0 0 0 0 0 0
Foreign official 5,270 2 5,243 2 3 9 2 1 0 0 0 1 6
Other (14) 17,329 12 9,946 1 0 138 7 7,184 35 0 1 1 2
Deferred availability cash items 356 0 0 0 0 0 192 0 0 164 0 0 0
Interest on Federal Reserve notes due
to U.S. Treasury (15) 2,112 56 1,235 56 57 135 122 77 21 11 25 65 250
Other liabilities and accrued
dividends 4,961 165 2,292 202 215 536 336 255 126 136 123 186 390
Total liabilities 4,429,521 88,705 2,599,420 117,251 128,556 275,662 240,808 173,771 57,368 31,760 60,347 152,650 503,226
Capital
Capital paid in 29,144 1,302 9,601 1,617 2,242 6,577 1,652 790 283 125 310 432 4,213
Surplus 29,144 1,302 9,601 1,617 2,242 6,577 1,652 790 283 125 310 432 4,213
Other capital 0 0 0 0 0 0 0 0 0 0 0 0 0
Total liabilities and capital 4,487,809 91,309 2,618,622 120,484 133,040 288,816 244,111 175,351 57,934 32,010 60,967 153,514 511,651
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, September 16, 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
Sep 16, 2015
Federal Reserve notes outstanding 1,525,466
Less: Notes held by F.R. Banks not subject to collateralization 185,745
Federal Reserve notes to be collateralized 1,339,721
Collateral held against Federal Reserve notes 1,339,721
Gold certificate account 11,037
Special drawing rights certificate account 5,200
U.S. Treasury, agency debt, and mortgage-backed securities pledged (1,2) 1,323,484
Other assets pledged 0
Memo:
Total U.S. Treasury, agency debt, and mortgage-backed securities (1,2) 4,242,157
Less: Face value of securities under reverse repurchase agreements 221,127
U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 4,021,029
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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