FEDERAL RESERVE statistical release

H.4.1

Factors Affecting Reserve Balances of Depository Institutions and

Condition Statement of Federal Reserve Banks March 5, 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

Mar 4, 2015 Feb 25, 2015 Mar 5, 2014

Wednesday

Mar 4, 2015

Reserve Bank credit 4,448,700 - 10,678 + 325,317 4,448,934

Securities held outright1 4,237,182 - 10,036 + 331,440 4,237,130

U.S. Treasury securities 2,460,082 - 144 + 175,851 2,460,028

Bills2 0 0 0 0

Notes and bonds, nominal2 2,346,711 0 + 169,448 2,346,711

Notes and bonds, inflation-indexed2 98,469 0 + 4,864 98,469

Inflation compensation3 14,902 - 144 + 1,539 14,849

Federal agency debt securities2 36,877 0 - 14,534 36,877

Mortgage-backed securities4 1,740,223 - 9,892 + 170,123 1,740,225

Unamortized premiums on securities held outright5 204,410 - 656 - 4,831 204,251

Unamortized discounts on securities held outright5 -18,104 + 34 - 2,355 -18,091

Repurchase agreements6 0 0 0 0

Loans 19 + 13 - 81 18

Primary credit 15 + 13 + 11 12

Secondary credit 0 0 0 0

Seasonal credit 4 0 + 2 6

Term Asset-Backed Securities Loan Facility7 0 0 - 95 0

Other credit extensions 0 0 0 0

Net portfolio holdings of Maiden Lane LLC8 1,686 0 + 105 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 -430 + 22 + 219 -456

Central bank liquidity swaps11 0 - 3 - 458 0

Other Federal Reserve assets12 23,937 - 51 + 1,471 24,395

Foreign currency denominated assets13 20,017 - 236 - 4,116 19,876

Gold stock 11,041 0 0 11,041

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

Treasury currency outstanding14 46,427 + 14 + 750 46,427

Total factors supplying reserve funds 4,531,385 - 10,900 + 321,951 4,531,479

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

Mar 4, 2015 Feb 25, 2015 Mar 5, 2014

Wednesday

Mar 4, 2015

Currency in circulation14 1,352,226 + 2,884 + 98,425 1,354,771

Reverse repurchase agreements15 314,359 + 8,199 + 116,174 277,168

Foreign official and international accounts 132,964 + 4,308 + 32,902 132,068

Others 181,395 + 3,892 + 83,272 145,100

Treasury cash holdings 216 - 9 - 54 213

Deposits with F.R. Banks, other than reserve balances 277,933 - 214,649 + 213,188 280,422

Term deposits held by depository institutions 216,067 - 188,083 + 216,067 216,067

U.S. Treasury, General Account 49,803 - 18,311 + 4,409 52,446

Foreign official 5,222 - 22 - 2,752 5,212

Other16 6,840 - 8,234 - 4,538 6,697

Other liabilities and capital17 64,556 - 456 + 1,731 64,236

Total factors, other than reserve balances,

absorbing reserve funds 2,009,290 - 204,032 + 429,464 1,976,810

Reserve balances with Federal Reserve Banks 2,522,095 + 193,132 - 107,513 2,554,669

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

Mar 4, 2015 Feb 25, 2015 Mar 5, 2014

Wednesday

Mar 4, 2015

Securities held in custody for foreign official and international

accounts 3,255,573 - 10,867 - 65,735 3,252,989

Marketable U.S. Treasury securities1 2,927,990 - 11,774 - 40,605 2,924,788

Federal agency debt and mortgage-backed securities2 284,281 + 894 - 22,953 284,775

Other securities3 43,302 + 13 - 2,178 43,427

Securities lent to dealers 12,541 - 1,233 + 2,550 11,377

Overnight facility4 12,541 - 1,233 + 2,550 11,377

U.S. Treasury securities 12,079 - 1,249 + 3,351 10,886

Federal agency debt securities 462 + 17 - 801 491

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, March 4, 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 15 3 0 0 0 ... 18

U.S. Treasury securities1

Holdings 1 1,900 40,235 1,125,222 649,302 643,368 2,460,028

Weekly changes + 1 0 + 31,838 - 22,220 - 9,665 - 92 - 139

Federal agency debt securities2

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

Weekly changes 0 0 0 0 0 0 0

Mortgage-backed securities3

Holdings 0 0 0 16 8,510 1,731,699 1,740,225

Weekly changes 0 0 0 + 1 + 723 - 706 + 17

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

Central bank liquidity swaps5 0 0 0 0 0 0 0

Reverse repurchase agreements4 277,168 0 ... ... ... ... 277,168

Term deposits 216,067 0 0 ... ... ... 216,067

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 Mar 4, 2015

Mortgage-backed securities held outright1 1,740,225

Commitments to buy mortgage-backed securities2 28,725

Commitments to sell mortgage-backed securities2 0

Cash and cash equivalents3 42

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 Mar 4, 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 December 31, 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

Mar 4, 2015 Feb 25, 2015 Mar 5, 2014

Assets

Gold certificate account 11,037 0 0

Special drawing rights certificate account 5,200 0 0

Coin 1,870 - 28 - 119

Securities, unamortized premiums and discounts,

repurchase agreements, and loans 4,423,308 - 452 + 320,061

Securities held outright1 4,237,130 - 121 + 327,148

U.S. Treasury securities 2,460,028 - 139 + 171,575

Bills2 0 0 0

Notes and bonds, nominal2 2,346,711 0 + 165,272

Notes and bonds, inflation-indexed2 98,469 0 + 4,861

Inflation compensation3 14,849 - 138 + 1,443

Federal agency debt securities2 36,877 0 - 14,534

Mortgage-backed securities4 1,740,225 + 17 + 170,106

Unamortized premiums on securities held outright5 204,251 - 371 - 4,864

Unamortized discounts on securities held outright5 -18,091 + 31 - 2,140

Repurchase agreements6 0 0 0

Loans 18 + 10 - 83

Net portfolio holdings of Maiden Lane LLC7 1,686 0 + 105

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) 210 + 18 + 111

Bank premises 2,247 - 5 - 27

Central bank liquidity swaps10 0 - 3 - 458

Foreign currency denominated assets11 19,876 - 376 - 4,160

Other assets12 22,147 + 1,701 + 498

Total assets (0) 4,487,583 + 858 + 315,821

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

Mar 4, 2015 Feb 25, 2015 Mar 5, 2014

Liabilities

Federal Reserve notes, net of F.R. Bank holdings 1,310,423 + 3,575 + 95,349

Reverse repurchase agreements13 277,168 - 29,003 + 104,442

Deposits (0) 2,835,091 + 25,693 + 114,871

Term deposits held by depository institutions 216,067 - 188,083 + 216,067

Other deposits held by depository institutions 2,554,669 + 207,671 - 104,400

U.S. Treasury, General Account 52,446 + 5,732 + 6,702

Foreign official 5,212 - 1 - 2,760

Other14 (0) 6,697 + 374 - 738

Deferred availability cash items (0) 666 - 101 - 247

Other liabilities and accrued dividends15 6,667 + 684 - 88

Total liabilities (0) 4,430,014 + 846 + 314,326

Capital accounts

Capital paid in 28,785 + 6 + 748

Surplus 28,785 + 6 + 748

Other capital accounts 0 0 0

Total capital 57,569 + 12 + 1,495

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, March 4, 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 1,870 38 75 132 119 304 191 282 21 46 153 178 330

Securities, unamortized premiums and

discounts, repurchase agreements,

and loans 4,423,308 89,478 2,714,855 105,969 96,576 247,221 244,517 180,786 54,558 27,110 58,266 134,780 469,194

Securities held outright1 4,237,130 85,710 2,600,596 101,509 92,511 236,816 234,226 173,177 52,262 25,967 55,813 129,106 449,437

U.S. Treasury securities 2,460,028 49,762 1,509,876 58,935 53,711 137,493 135,989 100,545 30,343 15,076 32,404 74,958 260,938

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

Notes and bonds3 2,460,028 49,762 1,509,876 58,935 53,711 137,493 135,989 100,545 30,343 15,076 32,404 74,958 260,938

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 1,740,225 35,202 1,068,087 41,690 37,995 97,262 96,199 71,125 21,464 10,665 22,923 53,025 184,587

Unamortized premiums on securities 

held outright5 204,251 4,132 125,362 4,893 4,460 11,416 11,291 8,348 2,519 1,252 2,690 6,224 21,665

Unamortized discounts on securities 

held outright5 -18,091 -366 -11,104 -433 -395 -1,011 -1,000 -739 -223 -111 -238 -551 -1,919

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

Loans 18 3 0 0 0 0 0 0 0 2 1 1 11

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 210 0 0 0 0 0 209 0 0 0 0 0 0

Bank premises 2,247 124 432 74 110 218 210 201 121 95 240 222 200

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

Foreign currency denominated

assets11 19,876 901 6,408 1,110 1,549 4,560 1,131 534 185 83 209 286 2,918

Other assets12 22,147 487 13,028 536 494 1,406 1,249 914 488 167 323 704 2,352

Interdistrict settlement account 0 + 27,481 - 245,283 + 20,767 + 37,479 + 24,181 + 7,699 - 6,521 + 466 + 7,193 + 9,329 + 27,417 + 89,792

Total assets 4,487,583 119,058 2,497,145 129,136 137,028 279,126 257,209 177,326 56,267 34,958 68,965 164,749 566,617

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, March 4, 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 1,493,104 50,309 473,771 48,937 72,313 105,068 211,711 104,539 44,747 26,554 41,889 121,886 191,380

Less: Notes held by F.R. Banks 182,681 5,368 65,259 5,778 9,841 12,382 22,324 11,722 4,429 3,151 5,386 13,119 23,921

Federal Reserve notes, net 1,310,423 44,941 408,512 43,159 62,472 92,686 189,387 92,816 40,318 23,403 36,502 108,767 167,458

Reverse repurchase agreements13 277,168 5,607 170,115 6,640 6,052 15,491 15,322 11,328 3,419 1,699 3,651 8,445 29,399

Deposits 2,835,091 65,765 1,896,181 75,910 63,834 157,300 48,233 71,309 11,833 9,383 28,074 46,467 360,803

Term deposits held by depository

institutions 216,067 45 116,464 40,430 100 1,554 803 11,020 30 0 1,620 1,951 42,050

Other deposits held by depository

institutions 2,554,669 65,715 1,715,572 35,452 63,731 155,613 47,418 60,274 11,802 9,383 26,452 44,514 318,743

U.S. Treasury, General Account 52,446 0 52,446 0 0 0 0 0 0 0 0 0 0

Foreign official 5,212 2 5,185 2 3 9 2 1 0 0 0 1 6

Other14 6,697 3 6,516 25 0 124 9 13 0 0 2 1 4

Deferred availability cash items 666 0 0 0 0 0 576 0 0 90 0 0 0

Interest on Federal Reserve notes due

to U.S. Treasury15 2,038 28 1,364 33 18 37 128 92 31 16 25 69 197

Other liabilities and accrued

dividends16 4,629 135 2,270 180 189 486 296 236 122 127 110 166 311

Total liabilities 4,430,014 116,476 2,478,444 125,922 132,565 266,000 253,942 175,781 55,723 34,717 68,362 163,914 558,169

Capital

Capital paid in 28,785 1,291 9,351 1,607 2,231 6,563 1,634 772 272 121 301 418 4,224

Surplus 28,785 1,291 9,351 1,607 2,231 6,563 1,634 772 272 121 301 418 4,224

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

Total liabilities and capital 4,487,583 119,058 2,497,145 129,136 137,028 279,126 257,209 177,326 56,267 34,958 68,965 164,749 566,617

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, March 4, 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 Mar 4, 2015

Federal Reserve notes outstanding 1,493,104

Less: Notes held by F.R. Banks not subject to collateralization 182,681

Federal Reserve notes to be collateralized 1,310,423

Collateral held against Federal Reserve notes 1,310,423

Gold certificate account 11,037

Special drawing rights certificate account 5,200

U.S. Treasury, agency debt, and mortgage-backed securities pledged1,2 1,294,186

Other assets pledged 0

Memo:

Total U.S. Treasury, agency debt, and mortgage-backed securities1,2 4,237,130

Less: Face value of securities under reverse repurchase agreements 252,113

U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 3,985,017

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.