FEDERAL RESERVE statistical release

H.4.1

Factors Affecting Reserve Balances of Depository Institutions and

Condition Statement of Federal Reserve Banks October 16, 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 15, 2014 Oct 8, 2014 Oct 16, 2013

Wednesday

Oct 15, 2014

Reserve Bank credit 4,421,473 + 9,761 + 659,430 4,432,443

Securities held outright1 4,196,676 + 7,256 + 662,371 4,208,523

U.S. Treasury securities 2,454,560 + 1,572 + 365,324 2,455,345

Bills2 0 0 0 0

Notes and bonds, nominal2 2,339,594 + 1,364 + 352,245 2,340,392

Notes and bonds, inflation-indexed2 98,469 + 241 + 10,077 98,469

Inflation compensation3 16,498 - 32 + 3,002 16,484

Federal agency debt securities2 39,962 - 44 - 20,551 39,700

Mortgage-backed securities4 1,702,153 + 5,728 + 317,597 1,713,478

Unamortized premiums on securities held outright5 208,968 - 94 + 3,973 209,379

Unamortized discounts on securities held outright5 -18,735 + 16 - 10,928 -18,719

Repurchase agreements6 0 0 0 0

Loans 226 - 3 - 11 234

Primary credit 4 - 2 - 6 3

Secondary credit 0 0 0 0

Seasonal credit 208 - 1 + 81 217

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

Other credit extensions 0 0 0 0

Net portfolio holdings of Maiden Lane LLC8 1,671 + 6 + 178 1,674

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 24 - 11 - 87 24

Float -640 + 1 + 157 -955

Central bank liquidity swaps11 0 0 - 272 0

Other Federal Reserve assets12 33,283 + 2,590 + 4,135 32,283

Foreign currency denominated assets13 22,483 + 193 - 1,661 22,724

Gold stock 11,041 0 0 11,041

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

Treasury currency outstanding14 46,189 + 14 + 821 46,189

Total factors supplying reserve funds 4,506,386 + 9,968 + 658,590 4,517,596

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 15, 2014 Oct 8, 2014 Oct 16, 2013

Wednesday

Oct 15, 2014

Currency in circulation14 1,295,817 + 4,196 + 79,633 1,296,315

Reverse repurchase agreements15 254,443 - 26,290 + 151,925 221,149

Foreign official and international accounts 99,102 + 2,032 - 1,595 99,234

Others 155,341 - 28,322 + 153,520 121,915

Treasury cash holdings 194 + 8 + 15 195

Deposits with F.R. Banks, other than reserve balances 97,496 - 13,147 + 6,143 114,812

Term deposits held by depository institutions 0 0 0 0

U.S. Treasury, General Account 79,790 - 16,671 + 44,489 101,413

Foreign official 5,243 - 5 - 3,560 5,242

Other16 12,463 + 3,529 - 34,786 8,156

Other liabilities and capital17 65,147 + 1,260 - 1,471 64,390

Total factors, other than reserve balances,

absorbing reserve funds 1,713,096 - 33,974 + 236,244 1,696,860

Reserve balances with Federal Reserve Banks 2,793,290 + 43,943 + 422,346 2,820,736

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 15, 2014 Oct 8, 2014 Oct 16, 2013

Wednesday

Oct 15, 2014

Securities held in custody for foreign official and international

accounts 3,318,024 - 18,601 + 9,817 3,312,835

Marketable U.S. Treasury securities1 2,982,917 - 18,604 + 30,860 2,981,428

Federal agency debt and mortgage-backed securities2 291,155 - 483 - 25,252 289,523

Other securities3 43,953 + 487 + 4,210 41,884

Securities lent to dealers 12,596 + 837 - 2,775 12,540

Overnight facility4 12,596 + 837 - 2,775 12,540

U.S. Treasury securities 11,803 + 801 - 2,402 11,800

Federal agency debt securities 793 + 36 - 373 740

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 15, 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 73 161 0 0 0 ... 234

U.S. Treasury securities1

Holdings 0 90 3,194 1,047,856 741,433 662,772 2,455,345

Weekly changes 0 0 0 - 6 - 6 + 899 + 888

Federal agency debt securities2

Holdings 0 1,023 4,531 31,799 0 2,347 39,700

Weekly changes - 306 0 + 947 - 947 0 0 - 306

Mortgage-backed securities3

Holdings 0 0 0 10 5,023 1,708,445 1,713,478

Weekly changes 0 0 0 0 - 31 + 17,083 + 17,052

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 221,149 0 ... ... ... ... 221,149

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 15, 2014

Mortgage-backed securities held outright1 1,713,478

Commitments to buy mortgage-backed securities2 53,279

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 15, 2014

Net portfolio holdings of Maiden Lane LLC1 1,674

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 15, 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 15, 2014 Oct 8, 2014 Oct 16, 2013

Assets

Gold certificate account 11,037 0 0

Special drawing rights certificate account 5,200 0 0

Coin 1,899 - 18 - 86

Securities, unamortized premiums and discounts,

repurchase agreements, and loans 4,399,417 + 18,065 + 658,882

Securities held outright1 4,208,523 + 17,634 + 665,576

U.S. Treasury securities 2,455,345 + 888 + 360,311

Bills2 0 0 0

Notes and bonds, nominal2 2,340,392 + 931 + 347,469

Notes and bonds, inflation-indexed2 98,469 0 + 9,880

Inflation compensation3 16,484 - 44 + 2,962

Federal agency debt securities2 39,700 - 306 - 20,465

Mortgage-backed securities4 1,713,478 + 17,052 + 325,730

Unamortized premiums on securities held outright5 209,379 + 380 + 4,156

Unamortized discounts on securities held outright5 -18,719 + 38 - 10,831

Repurchase agreements6 0 0 0

Loans 234 + 13 - 18

Net portfolio holdings of Maiden Lane LLC7 1,674 + 3 + 181

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 0 - 87

Items in process of collection (0) 102 + 24 + 1

Bank premises 2,259 + 1 - 26

Central bank liquidity swaps10 0 0 - 272

Foreign currency denominated assets11 22,724 + 296 - 1,327

Other assets12 30,024 + 584 + 3,581

Total assets (0) 4,474,360 + 18,957 + 660,761

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 15, 2014 Oct 8, 2014 Oct 16, 2013

Liabilities

Federal Reserve notes, net of F.R. Bank holdings 1,252,216 + 2,571 + 79,089

Reverse repurchase agreements13 221,149 - 56,717 + 115,494

Deposits (0) 2,935,548 + 71,683 + 466,352

Term deposits held by depository institutions 0 0 0

Other deposits held by depository institutions 2,820,736 + 55,120 + 437,305

U.S. Treasury, General Account 101,413 + 16,104 + 69,547

Foreign official 5,242 - 1 - 3,560

Other14 (0) 8,156 + 459 - 36,940

Deferred availability cash items (0) 1,057 + 365 - 323

Other liabilities and accrued dividends15 7,965 + 1,027 - 1,382

Total liabilities (0) 4,417,934 + 18,929 + 659,229

Capital accounts

Capital paid in 28,213 + 14 + 766

Surplus 28,213 + 14 + 766

Other capital accounts 0 0 0

Total capital 56,425 + 27 + 1,532

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 15, 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 1,899 31 93 122 120 314 220 275 17 46 151 179 331

Securities, unamortized premiums and

discounts, repurchase agreements,

and loans 4,399,417 88,988 2,700,073 105,391 96,049 245,873 243,217 179,820 54,289 27,070 57,970 134,051 466,626

Securities held outright1 4,208,523 85,131 2,583,038 100,823 91,887 235,217 232,645 172,008 51,909 25,791 55,436 128,235 446,402

U.S. Treasury securities 2,455,345 49,667 1,507,001 58,823 53,609 137,231 135,730 100,353 30,285 15,047 32,343 74,815 260,441

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

Notes and bonds3 2,455,345 49,667 1,507,001 58,823 53,609 137,231 135,730 100,353 30,285 15,047 32,343 74,815 260,441

Federal agency debt securities2 39,700 803 24,366 951 867 2,219 2,195 1,623 490 243 523 1,210 4,211

Mortgage-backed securities4 1,713,478 34,661 1,051,671 41,050 37,411 95,767 94,720 70,032 21,135 10,501 22,571 52,210 181,750

Unamortized premiums on securities 

held outright5 209,379 4,235 128,509 5,016 4,571 11,702 11,574 8,558 2,583 1,283 2,758 6,380 22,209

Unamortized discounts on securities 

held outright5 -18,719 -379 -11,489 -448 -409 -1,046 -1,035 -765 -231 -115 -247 -570 -1,986

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

Loans 234 0 14 0 0 0 33 20 28 110 22 7 0

Net portfolio holdings of Maiden

Lane LLC7 1,674 0 1,674 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 102 0 0 0 0 0 101 0 0 1 0 0 0

Bank premises 2,259 122 435 74 110 222 210 199 123 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 22,724 1,033 7,310 1,708 1,807 4,738 1,306 627 191 96 239 380 3,288

Other assets12 30,024 644 18,167 722 659 1,826 1,641 1,214 429 215 419 968 3,121

Interdistrict settlement account 0 + 23,733 - 61,186 - 3,317 + 7,564 + 4,878 + 4,348 - 14,853 - 9,858 - 2,262 - 2,283 + 6,158 + 47,078

Total assets 4,474,360 115,099 2,672,533 105,249 107,010 259,087 253,046 168,413 45,619 25,525 57,182 143,123 522,474

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 15, 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 1,448,055 44,383 483,656 43,968 66,182 102,941 214,245 96,970 38,939 21,078 36,450 116,689 182,555

Less: Notes held by F.R. Banks 195,839 5,206 68,046 5,916 8,649 11,284 21,945 10,943 4,724 3,871 5,141 21,885 28,230

Federal Reserve notes, net 1,252,216 39,177 415,611 38,053 57,532 91,657 192,300 86,027 34,214 17,207 31,309 94,805 154,325

Reverse repurchase agreements13 221,149 4,473 135,733 5,298 4,828 12,360 12,225 9,039 2,728 1,355 2,913 6,738 23,457

Deposits 2,935,548 68,664 2,098,192 58,496 39,938 142,139 43,828 71,449 8,008 6,499 22,207 40,344 335,785

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 2,820,736 68,660 1,983,702 58,462 39,935 141,887 43,818 71,442 8,008 6,499 22,205 40,342 335,776

U.S. Treasury, General Account 101,413 0 101,413 0 0 0 0 0 0 0 0 0 0

Foreign official 5,242 2 5,215 3 3 8 2 1 0 0 0 1 6

Other14 8,156 2 7,862 31 0 244 7 6 0 0 1 1 3

Deferred availability cash items 1,057 0 0 0 0 0 960 0 0 97 0 0 0

Interest on Federal Reserve notes due

to U.S. Treasury15 1,578 34 1,210 48 48 -254 97 80 19 11 24 55 206

Other liabilities and accrued

dividends16 6,387 187 3,402 221 222 579 383 289 146 120 131 212 495

Total liabilities 4,417,934 112,536 2,654,147 102,115 102,568 246,482 249,792 166,883 45,116 25,289 56,584 142,154 514,268

Capital

Capital paid in 28,213 1,282 9,193 1,567 2,221 6,303 1,627 765 252 118 299 484 4,103

Surplus 28,213 1,282 9,193 1,567 2,221 6,303 1,627 765 252 118 299 484 4,103

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

Total liabilities and capital 4,474,360 115,099 2,672,533 105,249 107,010 259,087 253,046 168,413 45,619 25,525 57,182 143,123 522,474

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 15, 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 15, 2014

Federal Reserve notes outstanding 1,448,055

Less: Notes held by F.R. Banks not subject to collateralization 195,839

Federal Reserve notes to be collateralized 1,252,216

Collateral held against Federal Reserve notes 1,252,216

Gold certificate account 11,037

Special drawing rights certificate account 5,200

U.S. Treasury, agency debt, and mortgage-backed securities pledged1,2 1,235,979

Other assets pledged 0

Memo:

Total U.S. Treasury, agency debt, and mortgage-backed securities1,2 4,208,523

Less: Face value of securities under reverse repurchase agreements 207,566

U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 4,000,958

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.