FEDERAL RESERVE statistical release

H.4.1

Factors Affecting Reserve Balances of Depository Institutions and

Condition Statement of Federal Reserve Banks October 9, 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 8, 2014 Oct 1, 2014 Oct 9, 2013

Wednesday

Oct 8, 2014

Reserve Bank credit 4,411,712 + 3,868 + 700,812 4,414,130

Securities held outright1 4,189,420 + 2,772 + 703,607 4,190,889

U.S. Treasury securities 2,452,988 + 2,768 + 369,973 2,454,457

Bills2 0 0 0 0

Notes and bonds, nominal2 2,338,230 + 2,761 + 355,786 2,339,461

Notes and bonds, inflation-indexed2 98,228 + 40 + 11,019 98,469

Inflation compensation3 16,530 - 33 + 3,168 16,528

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

Mortgage-backed securities4 1,696,425 + 3 + 354,278 1,696,426

Unamortized premiums on securities held outright5 209,062 - 225 + 5,009 208,999

Unamortized discounts on securities held outright5 -18,751 - 25 - 11,281 -18,757

Repurchase agreements6 0 0 0 0

Loans 229 - 51 - 8 221

Primary credit 6 - 17 - 1 7

Secondary credit 0 0 0 0

Seasonal credit 209 - 33 + 79 200

Term Asset-Backed Securities Loan Facility7 14 0 - 87 14

Other credit extensions 0 0 0 0

Net portfolio holdings of Maiden Lane LLC8 1,665 + 1 + 172 1,671

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 35 - 9 - 76 24

Float -641 - 68 + 87 -615

Central bank liquidity swaps11 0 - 206 - 232 0

Other Federal Reserve assets12 30,693 + 1,677 + 3,621 31,698

Foreign currency denominated assets13 22,290 - 65 - 2,029 22,428

Gold stock 11,041 0 0 11,041

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

Treasury currency outstanding14 46,175 + 14 + 824 46,175

Total factors supplying reserve funds 4,496,418 + 3,817 + 699,607 4,498,973

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 8, 2014 Oct 1, 2014 Oct 9, 2013

Wednesday

Oct 8, 2014

Currency in circulation14 1,291,621 + 2,513 + 80,984 1,293,713

Reverse repurchase agreements15 280,733 - 17,737 + 182,482 277,866

Foreign official and international accounts 97,070 - 3,683 + 5 95,335

Others 183,663 - 14,054 + 182,477 182,531

Treasury cash holdings 186 + 23 + 8 193

Deposits with F.R. Banks, other than reserve balances 110,643 - 25,060 + 48,280 98,249

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

U.S. Treasury, General Account 96,461 - 22,776 + 67,733 85,309

Foreign official 5,248 + 4 - 3,641 5,243

Other16 8,934 - 2,288 - 4,150 7,697

Other liabilities and capital17 63,887 + 446 - 2,105 63,336

Total factors, other than reserve balances,

absorbing reserve funds 1,747,070 - 39,814 + 309,649 1,733,357

Reserve balances with Federal Reserve Banks 2,749,347 + 43,630 + 389,957 2,765,616

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 8, 2014 Oct 1, 2014 Oct 9, 2013

Wednesday

Oct 8, 2014

Securities held in custody for foreign official and international

accounts 3,336,625 - 7,612 + 43,013 3,331,670

Marketable U.S. Treasury securities1 3,001,521 - 8,876 + 64,623 2,995,698

Federal agency debt and mortgage-backed securities2 291,638 + 862 - 26,280 291,840

Other securities3 43,466 + 402 + 4,670 44,132

Securities lent to dealers 11,759 - 1,384 - 1,151 12,494

Overnight facility4 11,759 - 1,384 - 1,151 12,494

U.S. Treasury securities 11,002 - 1,444 - 860 11,746

Federal agency debt securities 757 + 60 - 290 748

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 8, 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 40 181 0 0 0 ... 221

U.S. Treasury securities1

Holdings 0 90 3,194 1,047,862 741,439 661,873 2,454,457

Weekly changes 0 + 1 0 - 6 + 1,531 + 1,197 + 2,721

Federal agency debt securities2

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

Weekly changes 0 0 0 0 0 0 0

Mortgage-backed securities3

Holdings 0 0 0 10 5,054 1,691,362 1,696,426

Weekly changes 0 0 0 0 + 339 - 337 + 2

Asset-backed securities held by

TALF LLC4 0 0 0 0 0 0 0

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

Central bank liquidity swaps6 0 0 0 0 0 0 0

Reverse repurchase agreements5 277,866 0 ... ... ... ... 277,866

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 8, 2014

Mortgage-backed securities held outright1 1,696,426

Commitments to buy mortgage-backed securities2 71,392

Commitments to sell mortgage-backed securities2 0

Cash and cash equivalents3 4

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 8, 2014

Net portfolio holdings of Maiden Lane LLC1 1,671

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 8, 2014

Asset-backed securities holdings1 0

Other investments, net 24

Net portfolio holdings of TALF LLC 24

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 8, 2014 Oct 1, 2014 Oct 9, 2013

Assets

Gold certificate account 11,037 0 0

Special drawing rights certificate account 5,200 0 0

Coin 1,917 - 11 - 83

Securities, unamortized premiums and discounts,

repurchase agreements, and loans 4,381,352 + 2,543 + 695,152

Securities held outright1 4,190,889 + 2,723 + 701,337

U.S. Treasury securities 2,454,457 + 2,721 + 367,716

Bills2 0 0 0

Notes and bonds, nominal2 2,339,461 + 2,467 + 353,300

Notes and bonds, inflation-indexed2 98,469 + 281 + 11,260

Inflation compensation3 16,528 - 27 + 3,156

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

Mortgage-backed securities4 1,696,426 + 2 + 354,267

Unamortized premiums on securities held outright5 208,999 - 174 + 4,960

Unamortized discounts on securities held outright5 -18,757 + 1 - 11,121

Repurchase agreements6 0 0 0

Loans 221 - 7 - 25

Net portfolio holdings of Maiden Lane LLC7 1,671 + 7 + 178

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 24 - 20 - 87

Items in process of collection (0) 78 - 12 - 73

Bank premises 2,258 + 1 - 26

Central bank liquidity swaps10 0 - 240 - 186

Foreign currency denominated assets11 22,428 + 142 - 1,809

Other assets12 29,440 + 2,734 + 3,762

Total assets (0) 4,455,403 + 5,143 + 696,740

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 8, 2014 Oct 1, 2014 Oct 9, 2013

Liabilities

Federal Reserve notes, net of F.R. Bank holdings 1,249,645 + 2,804 + 78,733

Reverse repurchase agreements13 277,866 - 33,426 + 178,781

Deposits (0) 2,863,865 + 35,181 + 441,178

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

Other deposits held by depository institutions 2,765,616 + 79,669 + 402,717

U.S. Treasury, General Account 85,309 - 41,259 + 61,916

Foreign official 5,243 - 4 - 3,634

Other14 (0) 7,697 - 3,225 - 8,160

Deferred availability cash items (0) 692 - 9 - 177

Other liabilities and accrued dividends15 6,938 + 575 - 3,296

Total liabilities (0) 4,399,005 + 5,125 + 695,218

Capital accounts

Capital paid in 28,199 + 9 + 761

Surplus 28,199 + 9 + 761

Other capital accounts 0 0 0

Total capital 56,398 + 18 + 1,522

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 8, 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 1,917 32 93 123 120 317 222 276 20 46 150 182 334

Securities, unamortized premiums and

discounts, repurchase agreements,

and loans 4,381,352 88,623 2,688,993 104,959 95,655 244,864 242,216 179,077 54,066 26,962 57,725 133,501 464,711

Securities held outright1 4,190,889 84,774 2,572,215 100,401 91,502 234,232 231,670 171,287 51,692 25,683 55,204 127,698 444,532

U.S. Treasury securities 2,454,457 49,649 1,506,457 58,801 53,589 137,181 135,681 100,317 30,274 15,042 32,331 74,788 260,347

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

Notes and bonds3 2,454,457 49,649 1,506,457 58,801 53,589 137,181 135,681 100,317 30,274 15,042 32,331 74,788 260,347

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 1,696,426 34,316 1,041,204 40,641 37,039 94,814 93,777 69,335 20,924 10,396 22,346 51,691 179,942

Unamortized premiums on securities 

held outright5 208,999 4,228 128,276 5,007 4,563 11,681 11,553 8,542 2,578 1,281 2,753 6,368 22,169

Unamortized discounts on securities 

held outright5 -18,757 -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 221 0 15 0 0 0 29 14 28 113 15 7 0

Net portfolio holdings of Maiden

Lane LLC7 1,671 0 1,671 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 24 0 24 0 0 0 0 0 0 0 0 0 0

Items in process of collection 78 0 0 0 0 0 77 0 0 0 0 0 0

Bank premises 2,258 122 435 74 110 221 210 199 123 97 243 224 200

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

Foreign currency denominated

assets11 22,428 1,020 7,215 1,686 1,783 4,676 1,289 619 188 95 236 375 3,245

Other assets12 29,440 629 17,808 704 646 1,798 1,626 1,198 422 213 409 930 3,057

Interdistrict settlement account 0 + 21,034 - 50,155 - 2,639 + 8,864 - 10,926 + 9,326 - 9,300 - 9,746 - 1,819 - 2,000 + 3,433 + 43,928

Total assets 4,455,403 112,008 2,672,027 105,455 107,879 242,187 256,969 173,199 45,501 25,857 57,206 139,807 517,307

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 8, 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 1,447,121 44,438 484,521 43,814 66,076 102,954 213,801 96,418 38,609 21,080 36,505 116,624 182,281

Less: Notes held by F.R. Banks 197,477 5,404 68,000 6,122 9,054 11,555 21,741 11,040 4,811 3,872 5,268 22,480 28,131

Federal Reserve notes, net 1,249,645 39,034 416,521 37,692 57,022 91,399 192,060 85,379 33,798 17,208 31,237 94,144 154,150

Reverse repurchase agreements13 277,866 5,621 170,544 6,657 6,067 15,530 15,360 11,357 3,427 1,703 3,660 8,467 29,473

Deposits 2,863,865 64,594 2,062,644 57,729 40,097 122,470 45,247 74,583 7,616 6,498 21,570 35,982 324,835

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 2,765,616 64,591 1,964,724 57,694 40,093 122,213 45,238 74,576 7,616 6,498 21,569 35,978 324,827

U.S. Treasury, General Account 85,309 0 85,309 0 0 0 0 0 0 0 0 0 0

Foreign official 5,243 2 5,216 3 3 8 2 1 0 0 0 1 6

Other14 7,697 1 7,396 32 0 248 7 6 0 0 1 4 3

Deferred availability cash items 692 0 0 0 0 0 605 0 0 88 0 0 0

Interest on Federal Reserve notes due

to U.S. Treasury15 1,540 28 1,303 43 41 -373 106 80 17 9 18 54 212

Other liabilities and accrued

dividends16 5,398 168 2,629 202 211 555 359 271 139 117 122 195 430

Total liabilities 4,399,005 109,445 2,653,641 102,322 103,437 229,581 253,738 171,669 44,998 25,622 56,609 138,841 509,101

Capital

Capital paid in 28,199 1,282 9,193 1,567 2,221 6,303 1,616 765 252 117 299 483 4,103

Surplus 28,199 1,282 9,193 1,567 2,221 6,303 1,616 765 252 117 299 483 4,103

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

Total liabilities and capital 4,455,403 112,008 2,672,027 105,455 107,879 242,187 256,969 173,199 45,501 25,857 57,206 139,807 517,307

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 8, 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 8, 2014

Federal Reserve notes outstanding 1,447,121

Less: Notes held by F.R. Banks not subject to collateralization 197,477

Federal Reserve notes to be collateralized 1,249,645

Collateral held against Federal Reserve notes 1,249,645

Gold certificate account 11,037

Special drawing rights certificate account 5,200

U.S. Treasury, agency debt, and mortgage-backed securities pledged1,2 1,233,408

Other assets pledged 0

Memo:

Total U.S. Treasury, agency debt, and mortgage-backed securities1,2 4,190,889

Less: Face value of securities under reverse repurchase agreements 264,291

U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 3,926,598

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.