FEDERAL RESERVE statistical release

H.4.1

Factors Affecting Reserve Balances of Depository Institutions and

Condition Statement of Federal Reserve Banks October 2, 2014

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

Oct 1, 2014 Sep 24, 2014 Oct 2, 2013

Wednesday

Oct 1, 2014

Reserve Bank credit 4,407,844 - 9,889 + 710,692 4,409,110

Securities held outright1 4,186,648 - 8,571 + 713,701 4,188,166

U.S. Treasury securities 2,450,220 + 3,154 + 380,458 2,451,736

Bills2 0 0 0 0

Notes and bonds, nominal2 2,335,469 + 3,165 + 366,253 2,336,994

Notes and bonds, inflation-indexed2 98,188 0 + 10,979 98,188

Inflation compensation3 16,563 - 11 + 3,226 16,555

Federal agency debt securities2 40,006 0 - 21,075 40,006

Mortgage-backed securities4 1,696,422 - 11,725 + 354,318 1,696,424

Unamortized premiums on securities held outright5 209,287 - 614 + 5,154 209,173

Unamortized discounts on securities held outright5 -18,726 - 41 - 11,592 -18,758

Repurchase agreements6 0 0 0 0

Loans 280 - 50 + 19 228

Primary credit 23 - 12 + 8 4

Secondary credit 0 0 0 0

Seasonal credit 242 - 21 + 97 210

Term Asset-Backed Securities Loan Facility7 14 - 18 - 87 14

Other credit extensions 0 0 0 0

Net portfolio holdings of Maiden Lane LLC8 1,664 0 + 170 1,664

Net portfolio holdings of Maiden Lane II LLC9 0 0 - 64 0

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

Net portfolio holdings of TALF LLC10 44 0 - 68 44

Float -573 - 79 + 115 -611

Central bank liquidity swaps11 206 + 183 - 305 240

Other Federal Reserve assets12 29,016 - 715 + 3,585 28,963

Foreign currency denominated assets13 22,355 - 205 - 1,821 22,286

Gold stock 11,041 0 0 11,041

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

Treasury currency outstanding14 46,145 + 14 + 811 46,145

Total factors supplying reserve funds 4,492,585 - 10,080 + 709,682 4,493,782

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

Oct 1, 2014 Sep 24, 2014 Oct 2, 2013

Wednesday

Oct 1, 2014

Currency in circulation14 1,289,092 + 799 + 81,824 1,290,878

Reverse repurchase agreements15 298,470 + 27,928 + 184,697 311,292

Foreign official and international accounts 100,753 + 464 + 4,785 98,811

Others 197,717 + 27,463 + 179,912 212,481

Treasury cash holdings 163 - 1 - 6 185

Deposits with F.R. Banks, other than reserve balances 135,703 - 11,727 + 50,869 142,737

Term deposits held by depository institutions 0 0 - 11,662 0

U.S. Treasury, General Account 119,237 + 4,409 + 81,276 126,568

Foreign official 5,244 0 - 3,642 5,247

Other16 11,222 - 16,137 - 15,103 10,922

Other liabilities and capital17 63,441 - 215 - 2,059 62,743

Total factors, other than reserve balances,

absorbing reserve funds 1,786,868 + 16,783 + 315,324 1,807,834

Reserve balances with Federal Reserve Banks 2,705,717 - 26,863 + 394,358 2,685,947

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 7.

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 7.

10. Refer to table 5 and the note on consolidation accompanying table 7.

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 liabilities of TALF LLC to entities other than the Federal Reserve Bank of New York, including liabilities that have recourse only to the

portfolio holdings of this LLC. Refer to table 5 and the note on consolidation accompanying table 7. Also includes the liability for interest on Federal

Reserve notes due to U.S. Treasury. Refer to table 6 and table 7.

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

Oct 1, 2014 Sep 24, 2014 Oct 2, 2013

Wednesday

Oct 1, 2014

Securities held in custody for foreign official and international

accounts 3,344,237 - 15,365 + 53,018 3,335,608

Marketable U.S. Treasury securities1 3,010,397 - 13,177 + 75,417 3,000,945

Federal agency debt and mortgage-backed securities2 290,776 - 2,318 - 27,239 291,483

Other securities3 43,064 + 130 + 4,841 43,180

Securities lent to dealers 13,143 + 42 - 7,037 13,344

Overnight facility4 13,143 + 42 - 7,037 13,344

U.S. Treasury securities 12,446 + 128 - 6,729 12,540

Federal agency debt securities 697 - 86 - 308 804

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, 6, and 7.

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, October 1, 2014

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 49 179 0 0 0 ... 228

U.S. Treasury securities1

Holdings 0 89 3,194 1,047,868 739,908 660,676 2,451,736

Weekly changes - 1 0 0 + 9,115 - 6,985 + 981 + 3,111

Federal agency debt securities2

Holdings 306 1,023 3,584 32,746 0 2,347 40,006

Weekly changes + 306 - 306 0 0 0 0 0

Mortgage-backed securities3

Holdings 0 0 0 10 4,715 1,691,699 1,696,424

Weekly changes 0 0 0 0 - 82 - 9,776 - 9,858

Asset-backed securities held by

TALF LLC4 0 0 0 0 0 0 0

Repurchase agreements5 0 0 ... ... ... ... 0

Central bank liquidity swaps6 240 0 0 0 0 0 240

Reverse repurchase agreements5 311,292 0 ... ... ... ... 311,292

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. Face value of asset-backed securities held by TALF LLC, which is the remaining principal balance of the underlying assets.

5. Cash value of agreements.

6. 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 Oct 1, 2014

Mortgage-backed securities held outright1 1,696,424

Commitments to buy mortgage-backed securities2 65,466

Commitments to sell mortgage-backed securities2 0

Cash and cash equivalents3 12

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 6 and table 7.

4. Information on Principal Accounts of Maiden Lane LLC

Millions of dollars

Wednesday Account name Oct 1, 2014

Net portfolio holdings of Maiden Lane LLC1 1,664

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 June 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 7.

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 6 and table 7.

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. Information on Principal Accounts of TALF LLC

Millions of dollars

Wednesday Account name Oct 1, 2014

Asset-backed securities holdings1 0

Other investments, net 44

Net portfolio holdings of TALF LLC 44

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

Funding provided by U.S. Treasury to TALF LLC, including accrued interest payable3 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.

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 7.

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 6

and table 7.

Note: On November 25, 2008, the Federal Reserve announced the creation of the Term Asset-Backed Securities Loan Facility (TALF) under the authority of

section 13(3) of the Federal Reserve Act. The TALF is a facility under which the Federal Reserve Bank of New York (FRBNY) extended loans with a term of up

to five years to holders of eligible asset-backed securities. The Federal Reserve closed the TALF for new loan extensions in 2010. The loans provided through

the TALF to eligible borrowers are non-recourse, meaning that the obligation of the borrower can be discharged by surrendering the collateral to the FRBNY.

TALF LLC is a limited liability company 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 TALF loan. TALF LLC has committed, for a fee, to purchase all asset-backed securities received by the FRBNY in conjunction with a

TALF loan at a price equal to the TALF loan plus accrued but unpaid interest. Prior to January 15, 2013, the U.S. Treasury's Troubled Asset Relief Program

(TARP) committed backup funding to TALF LLC, providing credit protection to the FRBNY. However, the accumulated fees and income collected through the

TALF and held by TALF LLC now exceed the remaining amount of TALF loans outstanding. Accordingly, the TARP credit protection commitment has been

terminated, and TALF LLC has begun to distribute excess proceeds to the Treasury and the FRBNY. Any remaining funds will be shared by the FRBNY and

the U.S. Treasury.
H.4.1

6. Consolidated Statement of Condition of All Federal Reserve Banks

Millions of dollars

Change since

Assets, liabilities, and capital Wednesday Wednesday Eliminations from

consolidation

Wednesday

Oct 1, 2014 Sep 24, 2014 Oct 2, 2013

Assets

Gold certificate account 11,037 0 0

Special drawing rights certificate account 5,200 0 0

Coin 1,928 - 7 - 77

Securities, unamortized premiums and discounts,

repurchase agreements, and loans 4,378,809 - 7,441 + 701,930

Securities held outright1 4,188,166 - 6,747 + 708,454

U.S. Treasury securities 2,451,736 + 3,111 + 374,809

Bills2 0 0 0

Notes and bonds, nominal2 2,336,994 + 3,127 + 360,620

Notes and bonds, inflation-indexed2 98,188 0 + 10,979

Inflation compensation3 16,555 - 15 + 3,210

Federal agency debt securities2 40,006 0 - 20,646

Mortgage-backed securities4 1,696,424 - 9,858 + 354,291

Unamortized premiums on securities held outright5 209,173 - 538 + 4,986

Unamortized discounts on securities held outright5 -18,758 - 53 - 11,483

Repurchase agreements6 0 0 0

Loans 228 - 103 - 26

Net portfolio holdings of Maiden Lane LLC7 1,664 0 + 171

Net portfolio holdings of Maiden Lane II LLC8 0 0 - 64

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

Net portfolio holdings of TALF LLC9 44 0 - 68

Items in process of collection (0) 90 + 11 + 4

Bank premises 2,257 - 3 - 26

Central bank liquidity swaps10 240 + 217 - 271

Foreign currency denominated assets11 22,286 - 214 - 2,098

Other assets12 26,706 - 1,354 + 3,395

Total assets (0) 4,450,260 - 8,790 + 702,873

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

6. 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

Oct 1, 2014 Sep 24, 2014 Oct 2, 2013

Liabilities

Federal Reserve notes, net of F.R. Bank holdings 1,246,841 + 1,723 + 80,362

Reverse repurchase agreements13 311,292 + 49,568 + 215,907

Deposits (0) 2,828,684 - 60,272 + 408,956

Term deposits held by depository institutions 0 0 - 11,662

Other deposits held by depository institutions 2,685,947 - 21,238 + 356,791

U.S. Treasury, General Account 126,568 + 7,663 + 69,035

Foreign official 5,247 + 4 - 3,629

Other14 (0) 10,922 - 46,701 - 1,578

Deferred availability cash items (0) 701 + 49 - 182

Other liabilities and accrued dividends15 6,363 + 131 - 3,665

Total liabilities (0) 4,393,880 - 8,801 + 701,376

Capital accounts

Capital paid in 28,190 + 5 + 749

Surplus 28,190 + 5 + 749

Other capital accounts 0 0 0

Total capital 56,380 + 10 + 1,497

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 7.

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 7.

9. Refer to table 5 and the note on consolidation accompanying table 7.

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 liabilities of TALF LLC to entities other than the Federal Reserve Bank of New York, including liabilities that have recourse only to the

portfolio holdings of this LLC. Refer to table 5 and the note on consolidation accompanying table 7. Also includes the liability for interest on Federal

Reserve notes due to U.S. Treasury.
H.4.1

7. Statement of Condition of Each Federal Reserve Bank, October 1, 2014

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 1,928 33 93 124 121 317 224 276 24 47 151 183 335

Securities, unamortized premiums and

discounts, repurchase agreements,

and loans 4,378,809 88,571 2,687,428 104,897 95,600 244,722 242,075 178,969 54,051 26,940 57,693 133,424 464,441

Securities held outright1 4,188,166 84,719 2,570,544 100,336 91,442 234,079 231,519 171,176 51,658 25,667 55,168 127,615 444,243

U.S. Treasury securities 2,451,736 49,594 1,504,786 58,736 53,530 137,029 135,531 100,206 30,240 15,025 32,295 74,705 260,058

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

Notes and bonds3 2,451,736 49,594 1,504,786 58,736 53,530 137,029 135,531 100,206 30,240 15,025 32,295 74,705 260,058

Federal agency debt securities2 40,006 809 24,554 958 873 2,236 2,212 1,635 493 245 527 1,219 4,243

Mortgage-backed securities4 1,696,424 34,316 1,041,203 40,641 37,039 94,814 93,777 69,335 20,924 10,396 22,346 51,690 179,941

Unamortized premiums on securities 

held outright5 209,173 4,231 128,383 5,011 4,567 11,691 11,563 8,549 2,580 1,282 2,755 6,374 22,187

Unamortized discounts on securities 

held outright5 -18,758 -379 -11,513 -449 -410 -1,048 -1,037 -767 -231 -115 -247 -572 -1,990

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

Loans 228 0 14 0 0 0 29 10 44 107 17 7 0

Net portfolio holdings of Maiden

Lane LLC7 1,664 0 1,664 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 44 0 44 0 0 0 0 0 0 0 0 0 0

Items in process of collection 90 0 0 0 0 0 89 0 0 0 0 0 0

Bank premises 2,257 122 435 74 110 221 210 198 123 97 243 224 200

Central bank liquidity swaps10 240 11 77 18 19 50 14 7 2 1 3 4 35

Foreign currency denominated

assets11 22,286 1,013 7,169 1,675 1,772 4,646 1,281 615 187 94 235 373 3,224

Other assets12 26,706 575 16,144 639 586 1,651 1,474 1,086 389 197 375 820 2,770

Interdistrict settlement account 0 + 30,481 - 61,069 - 2,046 + 9,070 - 14,964 + 10,541 - 9,463 - 9,970 - 1,477 - 1,425 + 7,703 + 42,618

Total assets 4,450,260 121,354 2,657,928 105,931 107,979 237,880 257,911 172,818 45,233 26,163 57,718 143,892 515,454

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

7. Statement of Condition of Each Federal Reserve Bank, October 1, 2014 (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 1,445,148 44,409 484,646 43,474 66,002 102,695 213,830 96,271 38,097 21,064 36,548 116,533 181,578

Less: Notes held by F.R. Banks 198,307 5,412 66,320 6,291 9,275 11,437 22,273 11,423 4,987 3,911 5,379 22,981 28,619

Federal Reserve notes, net 1,246,841 38,998 418,326 37,183 56,728 91,258 191,557 84,848 33,110 17,153 31,170 93,552 152,959

Reverse repurchase agreements13 311,292 6,297 191,060 7,458 6,797 17,398 17,208 12,723 3,840 1,908 4,100 9,485 33,019

Deposits 2,828,684 73,306 2,027,050 57,406 39,788 116,554 44,883 73,378 7,624 6,652 21,723 39,653 320,667

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 2,685,947 73,303 1,884,511 57,371 39,785 116,426 44,874 73,371 7,623 6,651 21,721 39,652 320,659

U.S. Treasury, General Account 126,568 0 126,568 0 0 0 0 0 0 0 0 0 0

Foreign official 5,247 2 5,220 3 3 8 2 1 0 0 0 1 6

Other14 10,922 1 10,751 32 0 119 7 6 0 0 1 1 3

Deferred availability cash items 701 0 0 0 0 0 610 0 0 91 0 0 0

Interest on Federal Reserve notes due

to U.S. Treasury15 1,683 32 1,098 553 18 -441 76 75 25 11 15 55 166

Other liabilities and accrued

dividends16 4,680 158 2,008 197 207 511 347 266 132 113 120 191 431

Total liabilities 4,393,880 118,791 2,639,542 102,797 103,537 225,280 254,680 171,289 44,730 25,927 57,128 142,937 507,242

Capital

Capital paid in 28,190 1,282 9,193 1,567 2,221 6,300 1,615 764 252 118 295 478 4,106

Surplus 28,190 1,282 9,193 1,567 2,221 6,300 1,615 764 252 118 295 478 4,106

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

Total liabilities and capital 4,450,260 121,354 2,657,928 105,931 107,979 237,880 257,911 172,818 45,233 26,163 57,718 143,892 515,454

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

7. Statement of Condition of Each Federal Reserve Bank, October 1, 2014 (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 table 5 and 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.

16. Includes the liabilities of TALF LLC to entities other than the Federal Reserve Bank of New York, including liabilities that have recourse only to the portfolio holdings of this LLC. Refer to table 5 and

the note on consolidation below.

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 is the primary beneficiary of TALF LLC, because of the two beneficiaries of the LLC, the FRBNY and the U.S. Treasury, the FRBNY is primarily responsible for directing the financial activities of

TALF LLC. The FRBNY is the primary beneficiary of the other LLCs cited above because it will receive a majority of any residual returns of the LLCs and absorb a majority of any residual losses of the LLCs.

Consistent with generally accepted accounting principles, the assets and liabilities of these LLCs have been 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 are eliminated, the net assets of the LLCs appear as assets on the previous page

(and in table 1 and table 6), and the liabilities of the LLCs to entities other than the FRBNY, including those with recourse only to the portfolio holdings of the LLCs, are included in other liabilities in this table

(and table 1 and table 6).
H.4.1

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

Millions of dollars

Wednesday Federal Reserve notes and collateral Oct 1, 2014

Federal Reserve notes outstanding 1,445,148

Less: Notes held by F.R. Banks not subject to collateralization 198,307

Federal Reserve notes to be collateralized 1,246,841

Collateral held against Federal Reserve notes 1,246,841

Gold certificate account 11,037

Special drawing rights certificate account 5,200

U.S. Treasury, agency debt, and mortgage-backed securities pledged1,2 1,230,604

Other assets pledged 0

Memo:

Total U.S. Treasury, agency debt, and mortgage-backed securities1,2 4,188,166

Less: Face value of securities under reverse repurchase agreements 300,674

U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 3,887,492

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.