FEDERAL RESERVE statistical release

H.4.1

Factors Affecting Reserve Balances of Depository Institutions and

Condition Statement of Federal Reserve Banks February 12, 2015

1. Factors Affecting Reserve Balances of Depository Institutions

Millions of dollars

Averages of daily figures

Change from week ended

Reserve Bank credit, related items, and

reserve balances of depository institutions at

Federal Reserve Banks

Week ended

Feb 11, 2015 Feb 4, 2015 Feb 12, 2014

Wednesday

Feb 11, 2015

Reserve Bank credit 4,462,371 + 882 + 389,030 4,462,825

Securities held outright1 4,236,515 - 471 + 394,217 4,236,063

U.S. Treasury securities 2,460,549 - 171 + 201,901 2,460,490

Bills2 0 0 0 0

Notes and bonds, nominal2 2,346,711 0 + 194,994 2,346,711

Notes and bonds, inflation-indexed2 98,469 0 + 4,886 98,469

Inflation compensation3 15,369 - 171 + 2,022 15,310

Federal agency debt securities2 37,283 - 305 - 14,128 36,877

Mortgage-backed securities4 1,738,682 + 4 + 206,442 1,738,696

Unamortized premiums on securities held outright5 205,156 - 374 - 3,385 205,027

Unamortized discounts on securities held outright5 -18,208 + 32 - 3,553 -18,196

Repurchase agreements6 0 0 0 0

Loans 13 - 37 - 89 17

Primary credit 8 - 36 + 4 12

Secondary credit 0 0 0 0

Seasonal credit 5 0 + 3 5

Term Asset-Backed Securities Loan Facility7 0 0 - 96 0

Other credit extensions 0 0 0 0

Net portfolio holdings of Maiden Lane LLC8 1,686 0 + 107 1,686

Net portfolio holdings of Maiden Lane II LLC9 0 0 - 63 0

Net portfolio holdings of Maiden Lane III LLC9 0 0 - 22 0

Net portfolio holdings of TALF LLC10 0 0 - 106 0

Float -420 - 38 + 203 -409

Central bank liquidity swaps11 0 0 - 360 0

Other Federal Reserve assets12 37,628 + 1,769 + 2,081 38,637

Foreign currency denominated assets13 20,211 - 117 - 3,697 20,084

Gold stock 11,041 0 0 11,041

Special drawing rights certificate account 5,200 0 0 5,200

Treasury currency outstanding14 46,414 + 14 + 782 46,414

Total factors supplying reserve funds 4,545,237 + 779 + 386,115 4,545,564

Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table.
H.4.1

1. Factors Affecting Reserve Balances of Depository Institutions (continued)

Millions of dollars

Averages of daily figures

Change from week ended

Reserve Bank credit, related items, and

reserve balances of depository institutions at

Federal Reserve Banks

Week ended

Feb 11, 2015 Feb 4, 2015 Feb 12, 2014

Wednesday

Feb 11, 2015

Currency in circulation14 1,337,799 + 6,796 + 106,043 1,342,364

Reverse repurchase agreements15 244,538 - 40,790 + 46,004 248,575

Foreign official and international accounts 121,876 - 327 + 24,822 121,823

Others 122,662 - 40,464 + 21,183 126,752

Treasury cash holdings 202 0 - 64 205

Deposits with F.R. Banks, other than reserve balances 362,366 + 181,574 + 287,312 332,659

Term deposits held by depository institutions 188,083 + 188,083 + 175,261 188,083

U.S. Treasury, General Account 158,907 - 8,365 + 122,497 130,765

Foreign official 5,217 - 107 - 2,778 5,213

Other16 10,159 + 1,963 - 7,667 8,598

Other liabilities and capital17 63,725 + 855 - 119 63,548

Total factors, other than reserve balances,

absorbing reserve funds 2,008,630 + 148,435 + 439,176 1,987,351

Reserve balances with Federal Reserve Banks 2,536,607 - 147,656 - 53,062 2,558,213

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.
H.4.1

1A. Memorandum Items

Millions of dollars

Averages of daily figures

Memorandum item Week ended Change from week ended

Feb 11, 2015 Feb 4, 2015 Feb 12, 2014

Wednesday

Feb 11, 2015

Securities held in custody for foreign official and international

accounts 3,260,263 + 2,380 - 53,160 3,261,610

Marketable U.S. Treasury securities1 2,931,246 + 2,668 - 29,669 2,932,656

Federal agency debt and mortgage-backed securities2 286,440 - 346 - 21,287 286,695

Other securities3 42,578 + 58 - 2,203 42,259

Securities lent to dealers 11,268 + 2,369 + 1,574 10,991

Overnight facility4 11,268 + 2,369 + 1,574 10,991

U.S. Treasury securities 10,833 + 2,379 + 2,272 10,561

Federal agency debt securities 435 - 11 - 698 430

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, February 11, 2015

Millions of dollars

Remaining Maturity Within 15

days

16 days to

90 days

91 days to

1 year

Over 1 year

to 5 years

Over 5 year

to 10 years

Over 10

years

All

Loans 12 5 0 0 0 ... 17

U.S. Treasury securities1

Holdings 2 453 4,976 1,117,979 687,652 649,427 2,460,490

Weekly changes 0 0 0 - 24 - 31 - 107 - 162

Federal agency debt securities2

Holdings 0 982 4,577 28,971 0 2,347 36,877

Weekly changes - 711 0 0 0 0 0 - 711

Mortgage-backed securities3

Holdings 0 0 0 15 7,875 1,730,806 1,738,696

Weekly changes 0 0 0 0 0 + 16 + 16

Repurchase agreements4 0 0 ... ... ... ... 0

Central bank liquidity swaps5 0 0 0 0 0 0 0

Reverse repurchase agreements4 248,575 0 ... ... ... ... 248,575

Term deposits 188,083 0 0 ... ... ... 188,083

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.
H.4.1

3. Supplemental Information on Mortgage-Backed Securities

Millions of dollars

Wednesday Account name Feb 11, 2015

Mortgage-backed securities held outright1 1,738,696

Commitments to buy mortgage-backed securities2 37,626

Commitments to sell mortgage-backed securities2 456

Cash and cash equivalents3 16

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

Wednesday Account name Feb 11, 2015

Net portfolio holdings of Maiden Lane LLC1 1,686

Outstanding principal amount of loan extended by the Federal Reserve Bank of New York2 0

Accrued interest payable to the Federal Reserve Bank of New York2 0

Outstanding principal amount and accrued interest on loan payable to JPMorgan Chase & Co.3 0

1. Fair value. Fair value reflects an estimate of the price that would be received upon selling an asset if the transaction were to be conducted in an

orderly market on the measurement date. Revalued quarterly. This table reflects valuations as of September 30, 2014. Any assets purchased after

this valuation date are initially recorded at cost until their estimated fair value as of the purchase date becomes available.

2. Book value. This amount was eliminated when preparing the Federal Reserve Bank of New York’s statement of condition consistent with

consolidation under generally accepted accounting principles. Refer to the note on consolidation accompanying table 6.

3. Book value. The fair value of these obligations is included in other liabilities and capital in table 1 and in other liabilities and accrued dividends in

table 5 and table 6.

Note: On June 26, 2008, the Federal Reserve Bank of New York (FRBNY) extended credit to Maiden Lane LLC under the authority of section 13(3) of

the Federal Reserve Act. This limited liability company was formed to acquire certain assets of Bear Stearns and to manage those assets through time

to maximize repayment of the credit extended and to minimize disruption to financial markets. The remaining outstanding balances of the senior loan

from FRBNY to Maiden Lane LLC, and the subordinated loan from JPMorgan Chase & Co. to Maiden Lane LLC were repaid in full, with interest.
H.4.1

5. Consolidated Statement of Condition of All Federal Reserve Banks

Millions of dollars

Change since

Assets, liabilities, and capital Wednesday Wednesday Eliminations from

consolidation

Wednesday

Feb 11, 2015 Feb 4, 2015 Feb 12, 2014

Assets

Gold certificate account 11,037 0 0

Special drawing rights certificate account 5,200 0 0

Coin 1,957 + 2 - 94

Securities, unamortized premiums and discounts,

repurchase agreements, and loans 4,422,911 - 1,167 + 384,293

Securities held outright1 4,236,063 - 857 + 391,311

U.S. Treasury securities 2,460,490 - 162 + 199,391

Bills2 0 0 0

Notes and bonds, nominal2 2,346,711 0 + 192,541

Notes and bonds, inflation-indexed2 98,469 0 + 4,886

Inflation compensation3 15,310 - 162 + 1,963

Federal agency debt securities2 36,877 - 711 - 14,534

Mortgage-backed securities4 1,738,696 + 16 + 206,454

Unamortized premiums on securities held outright5 205,027 - 344 - 3,506

Unamortized discounts on securities held outright5 -18,196 + 31 - 3,428

Repurchase agreements6 0 0 0

Loans 17 + 3 - 84

Net portfolio holdings of Maiden Lane LLC7 1,686 0 + 107

Net portfolio holdings of Maiden Lane II LLC8 0 0 - 63

Net portfolio holdings of Maiden Lane III LLC8 0 0 - 22

Net portfolio holdings of TALF LLC9 0 0 - 106

Items in process of collection (0) 174 + 64 + 97

Bank premises 2,253 0 - 26

Central bank liquidity swaps10 0 0 - 360

Foreign currency denominated assets11 20,084 - 312 - 3,778

Other assets12 36,384 + 2,750 + 2,167

Total assets (0) 4,501,685 + 1,337 + 382,211

Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table.
H.4.1

5. Consolidated Statement of Condition of All Federal Reserve Banks (continued)

Millions of dollars

Change since

Assets, liabilities, and capital Wednesday Wednesday Eliminations from

consolidation

Wednesday

Feb 11, 2015 Feb 4, 2015 Feb 12, 2014

Liabilities

Federal Reserve notes, net of F.R. Bank holdings 1,298,107 + 7,335 + 106,414

Reverse repurchase agreements13 248,575 - 17,075 + 56,503

Deposits (0) 2,890,872 + 10,394 + 217,945

Term deposits held by depository institutions 188,083 + 188,083 + 175,261

Other deposits held by depository institutions 2,558,213 - 150,598 - 43,572

U.S. Treasury, General Account 130,765 - 26,485 + 98,201

Foreign official 5,213 0 - 2,758

Other14 (0) 8,598 - 606 - 9,186

Deferred availability cash items (0) 583 + 7 - 182

Other liabilities and accrued dividends15 6,320 + 660 + 108

Total liabilities (0) 4,444,457 + 1,321 + 380,789

Capital accounts

Capital paid in 28,614 + 8 + 711

Surplus 28,614 + 8 + 711

Other capital accounts 0 0 0

Total capital 57,228 + 16 + 1,423

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.
H.4.1

6. Statement of Condition of Each Federal Reserve Bank, February 11, 2015

Millions of dollars

Kansas San Assets, liabilities, and capital Total Boston New York Philadelphia Cleveland Richmond Atlanta Chicago St. Louis Minneapolis City Dallas 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 1,957 34 80 131 126 314 210 289 25 48 157 196 347

Securities, unamortized premiums and

discounts, repurchase agreements,

and loans 4,422,911 89,467 2,714,616 105,959 96,567 247,199 244,495 180,774 54,553 27,105 58,261 134,772 469,143

Securities held outright1 4,236,063 85,688 2,599,941 101,483 92,488 236,756 234,167 173,134 52,249 25,960 55,799 129,074 449,324

U.S. Treasury securities 2,460,490 49,771 1,510,159 58,946 53,721 137,518 136,014 100,564 30,348 15,079 32,410 74,972 260,987

Bills2 0 0 0 0 0 0 0 0 0 0 0 0 0

Notes and bonds3 2,460,490 49,771 1,510,159 58,946 53,721 137,518 136,014 100,564 30,348 15,079 32,410 74,972 260,987

Federal agency debt securities2 36,877 746 22,634 883 805 2,061 2,039 1,507 455 226 486 1,124 3,912

Mortgage-backed securities4 1,738,696 35,171 1,067,148 41,654 37,962 97,177 96,114 71,063 21,446 10,655 22,903 52,979 184,425

Unamortized premiums on securities 

held outright5 205,027 4,147 125,838 4,912 4,476 11,459 11,334 8,380 2,529 1,256 2,701 6,247 21,747

Unamortized discounts on securities 

held outright5 -18,196 -368 -11,168 -436 -397 -1,017 -1,006 -744 -224 -112 -240 -554 -1,930

Repurchase agreements6 0 0 0 0 0 0 0 0 0 0 0 0 0

Loans 17 0 5 0 0 0 0 4 0 0 1 5 2

Net portfolio holdings of Maiden

Lane LLC7 1,686 0 1,686 0 0 0 0 0 0 0 0 0 0

Net portfolio holdings of Maiden

Lane II LLC8 0 0 0 0 0 0 0 0 0 0 0 0 0

Net portfolio holdings of Maiden

Lane III LLC8 0 0 0 0 0 0 0 0 0 0 0 0 0

Net portfolio holdings of TALF LLC9 0 0 0 0 0 0 0 0 0 0 0 0 0

Items in process of collection 174 0 0 0 0 0 173 0 0 0 0 0 0

Bank premises 2,253 124 434 75 110 219 211 200 121 95 241 222 200

Central bank liquidity swaps10 0 0 0 0 0 0 0 0 0 0 0 0 0

Foreign currency denominated

assets11 20,084 910 6,475 1,122 1,566 4,608 1,143 539 187 84 211 289 2,949

Other assets12 36,384 789 21,783 885 813 2,219 2,044 1,497 530 255 515 1,187 3,867

Interdistrict settlement account 0 + 22,629 - 170,307 + 12,984 + 22,507 + 11,955 + 75 - 9,862 - 1,748 + 5,942 + 8,217 + 18,408 + 79,200

Total assets 4,501,685 114,502 2,580,710 121,704 122,388 267,749 250,354 174,569 54,097 33,793 68,046 156,236 557,537

Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table.
H.4.1

6. Statement of Condition of Each Federal Reserve Bank, February 11, 2015 (continued)

Millions of dollars

Kansas San Assets, liabilities, and capital Total Boston New York Philadelphia Cleveland Richmond Atlanta Chicago St. Louis Minneapolis City Dallas Francisco

Liabilities

Federal Reserve notes outstanding 1,490,485 49,471 475,550 48,860 71,620 104,884 212,427 104,056 43,758 25,940 41,468 121,743 190,706

Less: Notes held by F.R. Banks 192,378 5,684 66,977 6,060 9,860 13,122 23,260 12,411 4,803 3,213 5,477 14,954 26,558

Federal Reserve notes, net 1,298,107 43,787 408,573 42,800 61,761 91,762 189,167 91,645 38,955 22,728 35,991 106,790 164,149

Reverse repurchase agreements13 248,575 5,028 152,566 5,955 5,427 13,893 13,741 10,160 3,066 1,523 3,274 7,574 26,367

Deposits 2,890,872 62,936 1,997,668 69,552 50,541 148,472 43,322 70,919 11,402 9,071 28,053 40,823 358,114

Term deposits held by depository

institutions 188,083 235 109,659 27,310 16,750 2,021 455 3,475 74 70 1,771 405 25,858

Other deposits held by depository

institutions 2,558,213 62,695 1,743,670 42,216 33,788 146,285 42,858 67,431 11,328 9,001 26,280 40,416 332,246

U.S. Treasury, General Account 130,765 0 130,765 0 0 0 0 0 0 0 0 0 0

Foreign official 5,213 2 5,186 2 3 9 2 1 0 0 0 1 6

Other14 8,598 4 8,388 24 0 157 7 12 0 0 1 2 4

Deferred availability cash items 583 0 0 0 0 0 487 0 0 96 0 0 0

Interest on Federal Reserve notes due

to U.S. Treasury15 1,672 25 1,174 26 13 28 84 71 19 8 19 50 155

Other liabilities and accrued

dividends16 4,648 134 2,314 175 184 479 291 238 121 126 108 171 306

Total liabilities 4,444,457 111,911 2,562,295 118,509 117,926 254,634 247,092 173,033 53,562 33,553 67,445 155,407 549,091

Capital

Capital paid in 28,614 1,296 9,207 1,597 2,231 6,558 1,631 768 268 120 300 414 4,223

Surplus 28,614 1,296 9,207 1,597 2,231 6,558 1,631 768 268 120 300 414 4,223

Other capital 0 0 0 0 0 0 0 0 0 0 0 0 0

Total liabilities and capital 4,501,685 114,502 2,580,710 121,704 122,388 267,749 250,354 174,569 54,097 33,793 68,046 156,236 557,537

Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table.
H.4.1

6. Statement of Condition of Each Federal Reserve Bank, February 11, 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).
H.4.1

7. Collateral Held against Federal Reserve Notes: Federal Reserve Agents’ Accounts

Millions of dollars

Wednesday Federal Reserve notes and collateral Feb 11, 2015

Federal Reserve notes outstanding 1,490,485

Less: Notes held by F.R. Banks not subject to collateralization 192,378

Federal Reserve notes to be collateralized 1,298,107

Collateral held against Federal Reserve notes 1,298,107

Gold certificate account 11,037

Special drawing rights certificate account 5,200

U.S. Treasury, agency debt, and mortgage-backed securities pledged1,2 1,281,870

Other assets pledged 0

Memo:

Total U.S. Treasury, agency debt, and mortgage-backed securities1,2 4,236,063

Less: Face value of securities under reverse repurchase agreements 226,014

U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 4,010,049

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.