FEDERAL RESERVE statistical release

H.4.1

Factors Affecting Reserve Balances of Depository Institutions and

Condition Statement of Federal Reserve Banks May 7, 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

May 6, 2015 Apr 29, 2015 May 7, 2014

Wednesday

May 6, 2015

Reserve Bank credit 4,432,961 - 11,256 + 176,792 4,433,819

Securities held outright1 4,214,880 - 10,367 + 185,976 4,214,936

U.S. Treasury securities 2,460,126 + 134 + 108,062 2,460,182

Bills2 0 0 0 0

Notes and bonds, nominal2 2,346,643 - 66 + 104,563 2,346,643

Notes and bonds, inflation-indexed2 98,534 + 66 + 3,145 98,534

Inflation compensation3 14,949 + 133 + 354 15,005

Federal agency debt securities2 35,895 0 - 9,070 35,895

Mortgage-backed securities4 1,718,860 - 10,500 + 86,985 1,718,860

Unamortized premiums on securities held outright5 200,628 - 684 - 8,917 200,492

Unamortized discounts on securities held outright5 -17,792 + 35 - 38 -17,780

Repurchase agreements6 0 0 0 0

Loans 68 + 1 - 61 61

Primary credit 14 - 19 + 2 1

Secondary credit 0 0 0 0

Seasonal credit 55 + 20 + 19 60

Term Asset-Backed Securities Loan Facility7 0 0 - 81 0

Other credit extensions 0 0 0 0

Net portfolio holdings of Maiden Lane LLC8 1,688 - 5 + 34 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 - 92 0

Float -481 - 11 + 180 -567

Central bank liquidity swaps11 0 0 - 300 0

Other Federal Reserve assets12 33,970 - 224 + 95 34,991

Foreign currency denominated assets13 20,051 + 281 - 4,187 20,205

Gold stock 11,041 0 0 11,041

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

Treasury currency outstanding14 46,694 + 14 + 863 46,694

Total factors supplying reserve funds 4,515,948 - 10,961 + 173,469 4,516,960

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

May 6, 2015 Apr 29, 2015 May 7, 2014

Wednesday

May 6, 2015

Currency in circulation14 1,361,864 + 3,047 + 88,704 1,364,288

Reverse repurchase agreements15 250,561 + 7,735 - 50,884 234,933

Foreign official and international accounts 156,376 - 1,205 + 44,063 150,211

Others 94,185 + 8,940 - 94,948 84,722

Treasury cash holdings 229 + 6 + 1 227

Deposits with F.R. Banks, other than reserve balances 241,792 - 23,055 + 135,934 242,322

Term deposits held by depository institutions 0 0 0 0

U.S. Treasury, General Account 227,506 + 7,804 + 136,109 229,131

Foreign official 5,230 - 7 - 2,553 5,230

Other16 9,056 - 30,852 + 2,378 7,961

Other liabilities and capital17 66,100 - 318 + 1,932 65,133

Total factors, other than reserve balances,

absorbing reserve funds 1,920,545 - 12,586 + 175,686 1,906,903

Reserve balances with Federal Reserve Banks 2,595,402 + 1,625 - 2,219 2,610,056

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

May 6, 2015 Apr 29, 2015 May 7, 2014

Wednesday

May 6, 2015

Securities held in custody for foreign official and international

accounts 3,313,042 + 24,455 + 28,402 3,315,457

Marketable U.S. Treasury securities1 2,983,691 + 22,323 + 34,444 2,985,859

Federal agency debt and mortgage-backed securities2 284,605 + 795 - 8,633 284,686

Other securities3 44,747 + 1,338 + 2,592 44,913

Securities lent to dealers 11,306 + 2,522 + 195 12,469

Overnight facility4 11,306 + 2,522 + 195 12,469

U.S. Treasury securities 11,004 + 2,498 + 844 12,192

Federal agency debt securities 301 + 23 - 650 277

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, May 6, 2015

Millions of dollars

Remaining Maturity Within 15

days

16 days to

90 days

91 days to

1 year

Over 1 year

to 5 years

Over 5 year

to 10 years

Over 10

years

All

Loans 12 49 0 0 0 ... 61

U.S. Treasury securities1

Holdings 1,448 2 91,583 1,090,704 632,974 643,472 2,460,182

Weekly changes + 998 - 1,447 + 27,371 - 21,840 - 5,031 + 98 + 148

Federal agency debt securities2

Holdings 0 802 7,997 24,749 0 2,347 35,895

Weekly changes 0 0 0 0 0 0 0

Mortgage-backed securities3

Holdings 0 0 0 25 9,514 1,709,320 1,718,860

Weekly changes 0 0 0 + 6 + 721 - 718 + 10

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

Central bank liquidity swaps5 0 0 0 0 0 0 0

Reverse repurchase agreements4 234,933 0 ... ... ... ... 234,933

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. 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 May 6, 2015

Mortgage-backed securities held outright1 1,718,860

Commitments to buy mortgage-backed securities2 50,193

Commitments to sell mortgage-backed securities2 0

Cash and cash equivalents3 21

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 May 6, 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 March 31, 2015. 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

May 6, 2015 Apr 29, 2015 May 7, 2014

Assets

Gold certificate account 11,037 0 0

Special drawing rights certificate account 5,200 0 0

Coin 1,811 + 10 - 90

Securities, unamortized premiums and discounts,

repurchase agreements, and loans 4,397,709 - 180 + 174,088

Securities held outright1 4,214,936 + 157 + 183,180

U.S. Treasury securities 2,460,182 + 148 + 105,266

Bills2 0 0 0

Notes and bonds, nominal2 2,346,643 - 66 + 101,770

Notes and bonds, inflation-indexed2 98,534 + 66 + 3,145

Inflation compensation3 15,005 + 147 + 351

Federal agency debt securities2 35,895 0 - 9,070

Mortgage-backed securities4 1,718,860 + 10 + 86,985

Unamortized premiums on securities held outright5 200,492 - 368 - 9,000

Unamortized discounts on securities held outright5 -17,780 + 31 + 5

Repurchase agreements6 0 0 0

Loans 61 0 - 97

Net portfolio holdings of Maiden Lane LLC7 1,686 - 3 + 32

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 - 91

Items in process of collection (0) 64 + 5 - 11

Bank premises 2,239 - 5 - 27

Central bank liquidity swaps10 0 0 - 300

Foreign currency denominated assets11 20,205 + 148 - 4,100

Other assets12 32,752 + 1,230 + 145

Total assets (0) 4,472,703 + 1,204 + 169,560

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

May 6, 2015 Apr 29, 2015 May 7, 2014

Liabilities

Federal Reserve notes, net of F.R. Bank holdings 1,319,628 + 3,645 + 88,268

Reverse repurchase agreements13 234,933 - 14,954 - 65,262

Deposits (0) 2,852,378 + 12,660 + 145,091

Term deposits held by depository institutions 0 0 0

Other deposits held by depository institutions 2,610,056 + 28,989 + 13,007

U.S. Treasury, General Account 229,131 - 16,295 + 132,133

Foreign official 5,230 - 3 - 2,547

Other14 (0) 7,961 - 31 + 2,498

Deferred availability cash items (0) 631 + 82 - 144

Other liabilities and accrued dividends15 7,399 - 262 + 90

Total liabilities (0) 4,414,969 + 1,172 + 168,044

Capital accounts

Capital paid in 28,867 + 16 + 758

Surplus 28,867 + 16 + 758

Other capital accounts 0 0 0

Total capital 57,734 + 32 + 1,517

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, May 6, 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 11,037 347 3,709 340 505 783 1,600 734 299 171 288 891 1,370

Special drawing rights certificate acct. 5,200 196 1,818 210 237 412 654 424 150 90 153 282 574

Coin 1,811 37 69 123 121 293 191 269 24 45 148 177 313

Securities, unamortized premiums and

discounts, repurchase agreements,

and loans 4,397,709 111,478 2,639,961 109,377 105,730 238,852 247,650 163,401 45,861 26,778 57,135 141,665 509,822

Securities held outright1 4,214,936 106,847 2,530,277 104,832 101,337 228,928 237,352 156,604 43,955 25,634 54,754 135,777 488,640

U.S. Treasury securities 2,460,182 62,364 1,476,877 61,189 59,149 133,621 138,538 91,407 25,656 14,962 31,959 79,250 285,210

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

Notes and bonds3 2,460,182 62,364 1,476,877 61,189 59,149 133,621 138,538 91,407 25,656 14,962 31,959 79,250 285,210

Federal agency debt securities2 35,895 910 21,548 893 863 1,950 2,021 1,334 374 218 466 1,156 4,161

Mortgage-backed securities4 1,718,860 43,572 1,031,852 42,751 41,325 93,357 96,793 63,863 17,925 10,453 22,329 55,370 199,268

Unamortized premiums on securities 

held outright5 200,492 5,082 120,358 4,987 4,820 10,889 11,290 7,449 2,091 1,219 2,604 6,458 23,243

Unamortized discounts on securities 

held outright5 -17,780 -451 -10,674 -442 -427 -966 -1,001 -661 -185 -108 -231 -573 -2,061

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

Loans 61 0 0 0 0 0 9 9 0 33 7 2 1

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 64 0 0 0 0 0 63 0 0 0 0 0 0

Bank premises 2,239 124 431 74 109 217 210 202 120 94 240 221 198

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

Foreign currency denominated

assets11 20,205 916 6,515 1,129 1,575 4,636 1,149 543 188 85 213 291 2,966

Other assets12 32,752 871 19,147 827 801 1,957 1,874 1,235 439 238 465 1,093 3,803

Interdistrict settlement account 0 + 13,788 - 68,828 + 5,022 + 15,395 - 1,167 - 10,345 + 1,394 + 3,701 + 4,750 + 4,409 + 9,408 + 22,474

Total assets 4,472,703 127,757 2,604,508 117,102 124,472 245,983 243,046 168,202 50,783 32,251 63,050 154,028 541,520

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, May 6, 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 1,499,935 50,482 478,123 50,622 77,703 104,122 209,390 106,568 44,774 26,764 41,971 120,586 188,830

Less: Notes held by F.R. Banks 180,307 5,388 60,512 5,372 9,523 12,202 23,369 11,549 5,025 2,950 5,034 14,000 25,384

Federal Reserve notes, net 1,319,628 45,094 417,611 45,250 68,180 91,919 186,021 95,019 39,750 23,814 36,937 106,586 163,446

Reverse repurchase agreements13 234,933 5,955 141,033 5,843 5,648 12,760 13,230 8,729 2,450 1,429 3,052 7,568 27,236

Deposits 2,852,378 73,886 2,023,429 62,528 45,883 127,437 39,615 62,532 7,872 6,406 22,312 38,769 341,711

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 2,610,056 73,882 1,781,343 62,503 45,880 127,261 39,606 62,529 7,872 6,406 22,310 38,763 341,701

U.S. Treasury, General Account 229,131 0 229,131 0 0 0 0 0 0 0 0 0 0

Foreign official 5,230 2 5,203 2 3 9 2 1 0 0 0 1 6

Other14 7,961 2 7,751 22 0 166 7 2 0 0 1 5 4

Deferred availability cash items 631 0 0 0 0 0 430 0 0 200 0 0 0

Interest on Federal Reserve notes due

to U.S. Treasury15 2,445 62 1,472 58 60 155 136 91 21 13 27 74 279

Other liabilities and accrued

dividends 4,953 163 2,252 202 221 571 335 254 133 135 118 182 388

Total liabilities 4,414,969 125,160 2,585,797 113,881 119,993 232,842 239,767 166,625 50,226 31,996 62,445 153,178 533,059

Capital

Capital paid in 28,867 1,299 9,356 1,610 2,240 6,570 1,640 789 278 128 302 425 4,231

Surplus 28,867 1,299 9,356 1,610 2,240 6,570 1,640 789 278 128 302 425 4,231

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

Total liabilities and capital 4,472,703 127,757 2,604,508 117,102 124,472 245,983 243,046 168,202 50,783 32,251 63,050 154,028 541,520

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, May 6, 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 May 6, 2015

Federal Reserve notes outstanding 1,499,935

Less: Notes held by F.R. Banks not subject to collateralization 180,307

Federal Reserve notes to be collateralized 1,319,628

Collateral held against Federal Reserve notes 1,319,628

Gold certificate account 11,037

Special drawing rights certificate account 5,200

U.S. Treasury, agency debt, and mortgage-backed securities pledged1,2 1,303,391

Other assets pledged 0

Memo:

Total U.S. Treasury, agency debt, and mortgage-backed securities1,2 4,214,936

Less: Face value of securities under reverse repurchase agreements 221,820

U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 3,993,116

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.