FEDERAL RESERVE statistical release

H.4.1

Factors Affecting Reserve Balances of Depository Institutions and

Condition Statement of Federal Reserve Banks February 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

Feb 4, 2015 Jan 28, 2015 Feb 5, 2014

Wednesday

Feb 4, 2015

Reserve Bank credit 4,461,489 - 7,260 + 398,695 4,461,184

Securities held outright1 4,236,986 - 6,981 + 403,321 4,236,920

U.S. Treasury securities 2,460,720 - 136 + 213,694 2,460,652

Bills2 0 0 0 0

Notes and bonds, nominal2 2,346,711 - 1 + 205,633 2,346,711

Notes and bonds, inflation-indexed2 98,469 0 + 5,854 98,469

Inflation compensation3 15,540 - 135 + 2,207 15,472

Federal agency debt securities2 37,588 0 - 16,823 37,588

Mortgage-backed securities4 1,738,678 - 6,846 + 206,450 1,738,680

Unamortized premiums on securities held outright5 205,530 - 549 - 3,204 205,371

Unamortized discounts on securities held outright5 -18,240 + 33 - 4,062 -18,227

Repurchase agreements6 0 0 0 0

Loans 50 + 11 - 58 14

Primary credit 44 + 13 + 39 11

Secondary credit 0 0 0 0

Seasonal credit 5 - 4 - 3 3

Term Asset-Backed Securities Loan Facility7 0 0 - 96 0

Other credit extensions 0 0 0 0

Net portfolio holdings of Maiden Lane LLC8 1,686 + 5 + 107 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 - 108 0

Float -382 - 15 + 132 -466

Central bank liquidity swaps11 0 - 2 - 359 0

Other Federal Reserve assets12 35,859 + 240 + 3,012 35,887

Foreign currency denominated assets13 20,328 + 56 - 3,529 20,396

Gold stock 11,041 0 0 11,041

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

Treasury currency outstanding14 46,425 + 14 + 817 46,425

Total factors supplying reserve funds 4,544,483 - 7,189 + 395,984 4,544,246

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

Feb 4, 2015 Jan 28, 2015 Feb 5, 2014

Wednesday

Feb 4, 2015

Currency in circulation14 1,331,027 + 2,052 + 102,392 1,335,044

Reverse repurchase agreements15 285,328 + 27,846 + 88,963 265,650

Foreign official and international accounts 122,203 + 6,238 + 23,101 120,000

Others 163,126 + 21,609 + 65,863 145,650

Treasury cash holdings 202 - 14 - 59 202

Deposits with F.R. Banks, other than reserve balances 180,792 - 56,663 + 63,283 171,668

Term deposits held by depository institutions 0 0 - 12,822 0

U.S. Treasury, General Account 167,272 - 33,920 + 87,191 157,250

Foreign official 5,324 + 94 - 2,647 5,213

Other16 8,196 - 22,837 - 8,439 9,204

Other liabilities and capital17 62,870 + 479 - 584 62,872

Total factors, other than reserve balances,

absorbing reserve funds 1,860,220 - 26,299 + 253,996 1,835,435

Reserve balances with Federal Reserve Banks 2,684,263 + 19,110 + 141,987 2,708,811

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

Feb 4, 2015 Jan 28, 2015 Feb 5, 2014

Wednesday

Feb 4, 2015

Securities held in custody for foreign official and international

accounts 3,257,883 - 12,988 - 66,277 3,257,215

Marketable U.S. Treasury securities1 2,928,578 - 13,571 - 43,576 2,927,711

Federal agency debt and mortgage-backed securities2 286,786 + 518 - 20,349 286,871

Other securities3 42,520 + 66 - 2,351 42,633

Securities lent to dealers 8,899 - 1,438 - 1,623 10,311

Overnight facility4 8,899 - 1,438 - 1,623 10,311

U.S. Treasury securities 8,454 - 1,410 - 907 9,880

Federal agency debt securities 446 - 26 - 715 431

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, February 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 11 3 0 0 0 ... 14

U.S. Treasury securities1

Holdings 2 453 4,976 1,118,003 687,683 649,534 2,460,652

Weekly changes + 2 + 447 + 1,462 + 4,082 - 6,044 - 101 - 152

Federal agency debt securities2

Holdings 711 982 4,577 28,971 0 2,347 37,588

Weekly changes 0 0 0 0 0 0 0

Mortgage-backed securities3

Holdings 0 0 0 15 7,875 1,730,790 1,738,680

Weekly changes 0 0 0 + 1 + 1,139 - 1,132 + 8

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

Central bank liquidity swaps5 0 0 0 0 0 0 0

Reverse repurchase agreements4 265,650 0 ... ... ... ... 265,650

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 Feb 4, 2015

Mortgage-backed securities held outright1 1,738,680

Commitments to buy mortgage-backed securities2 31,265

Commitments to sell mortgage-backed securities2 377

Cash and cash equivalents3 22

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 Feb 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 September 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 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

Feb 4, 2015 Jan 28, 2015 Feb 5, 2014

Assets

Gold certificate account 11,037 0 0

Special drawing rights certificate account 5,200 0 0

Coin 1,955 + 4 - 82

Securities, unamortized premiums and discounts,

repurchase agreements, and loans 4,424,078 - 500 + 393,116

Securities held outright1 4,236,920 - 144 + 400,305

U.S. Treasury securities 2,460,652 - 152 + 207,679

Bills2 0 0 0

Notes and bonds, nominal2 2,346,711 - 1 + 199,683

Notes and bonds, inflation-indexed2 98,469 0 + 5,854

Inflation compensation3 15,472 - 152 + 2,141

Federal agency debt securities2 37,588 0 - 13,823

Mortgage-backed securities4 1,738,680 + 8 + 206,449

Unamortized premiums on securities held outright5 205,371 - 371 - 3,261

Unamortized discounts on securities held outright5 -18,227 + 31 - 3,838

Repurchase agreements6 0 0 0

Loans 14 - 16 - 89

Net portfolio holdings of Maiden Lane LLC7 1,686 0 + 107

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 - 108

Items in process of collection (0) 110 - 28 - 15

Bank premises 2,253 - 9 - 27

Central bank liquidity swaps10 0 - 1 - 359

Foreign currency denominated assets11 20,396 + 94 - 3,484

Other assets12 33,634 + 722 + 2,001

Total assets (0) 4,500,348 + 284 + 391,063

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

Feb 4, 2015 Jan 28, 2015 Feb 5, 2014

Liabilities

Federal Reserve notes, net of F.R. Bank holdings 1,290,772 + 4,955 + 103,621

Reverse repurchase agreements13 265,650 - 15,840 + 69,536

Deposits (0) 2,880,478 + 10,267 + 218,342

Term deposits held by depository institutions 0 0 - 12,822

Other deposits held by depository institutions 2,708,811 + 46,231 + 161,911

U.S. Treasury, General Account 157,250 - 37,061 + 79,827

Foreign official 5,213 + 2 - 2,758

Other14 (0) 9,204 + 1,096 - 7,816

Deferred availability cash items (0) 576 + 91 - 196

Other liabilities and accrued dividends15 5,660 + 745 - 2,311

Total liabilities (0) 4,443,136 + 219 + 388,992

Capital accounts

Capital paid in 28,606 + 33 + 1,035

Surplus 28,606 + 33 + 1,035

Other capital accounts 0 0 0

Total capital 57,212 + 65 + 2,071

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, February 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 1,955 33 80 130 127 313 210 286 24 47 158 194 351

Securities, unamortized premiums and

discounts, repurchase agreements,

and loans 4,424,078 89,491 2,715,339 105,987 96,593 247,264 244,560 180,819 54,568 27,112 58,277 134,802 469,265

Securities held outright1 4,236,920 85,705 2,600,467 101,504 92,507 236,804 234,214 173,169 52,259 25,965 55,810 129,100 449,414

U.S. Treasury securities 2,460,652 49,775 1,510,258 58,950 53,725 137,528 136,023 100,570 30,350 15,080 32,413 74,977 261,004

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

Notes and bonds3 2,460,652 49,775 1,510,258 58,950 53,725 137,528 136,023 100,570 30,350 15,080 32,413 74,977 261,004

Federal agency debt securities2 37,588 760 23,070 900 821 2,101 2,078 1,536 464 230 495 1,145 3,987

Mortgage-backed securities4 1,738,680 35,170 1,067,138 41,653 37,961 97,176 96,113 71,062 21,445 10,655 22,902 52,978 184,424

Unamortized premiums on securities 

held outright5 205,371 4,154 126,049 4,920 4,484 11,478 11,353 8,394 2,533 1,259 2,705 6,258 21,784

Unamortized discounts on securities 

held outright5 -18,227 -369 -11,187 -437 -398 -1,019 -1,008 -745 -225 -112 -240 -555 -1,933

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

Loans 14 0 10 0 0 0 0 2 1 0 2 0 0

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 110 0 0 0 0 0 109 0 0 0 0 0 0

Bank premises 2,253 124 435 75 110 219 211 200 121 95 241 222 200

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

Foreign currency denominated

assets11 20,396 925 6,576 1,140 1,590 4,680 1,160 548 190 86 215 294 2,995

Other assets12 33,634 731 20,106 820 752 2,063 1,892 1,388 497 244 482 1,077 3,580

Interdistrict settlement account 0 + 28,769 - 159,350 + 2,526 + 23,506 + 10,087 - 2,011 - 5,922 - 2,618 + 5,567 + 6,294 + 19,410 + 73,740

Total assets 4,500,348 120,621 2,590,814 111,226 123,379 265,862 248,135 178,450 53,211 33,415 66,111 157,161 551,962

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, February 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 1,485,780 48,801 475,564 48,664 71,333 104,630 212,142 102,847 43,226 25,579 40,814 121,529 190,652

Less: Notes held by F.R. Banks 195,008 5,804 67,423 6,050 10,320 12,931 24,074 12,225 5,148 3,131 5,438 15,302 27,162

Federal Reserve notes, net 1,290,772 42,996 408,141 42,614 61,013 91,700 188,068 90,622 38,077 22,447 35,376 106,227 163,491

Reverse repurchase agreements13 265,650 5,374 163,046 6,364 5,800 14,847 14,685 10,857 3,277 1,628 3,499 8,094 28,178

Deposits 2,880,478 69,486 1,998,657 58,834 51,883 145,613 41,249 75,112 11,170 8,846 26,482 41,792 351,355

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 2,708,811 69,479 1,827,244 58,807 51,879 145,431 41,240 75,099 11,170 8,846 26,480 41,789 351,345

U.S. Treasury, General Account 157,250 0 157,250 0 0 0 0 0 0 0 0 0 0

Foreign official 5,213 2 5,185 2 3 9 2 1 0 0 0 1 6

Other14 9,204 5 8,978 24 0 172 7 12 0 0 1 2 4

Deferred availability cash items 576 0 0 0 0 0 461 0 0 115 0 0 0

Interest on Federal Reserve notes due

to U.S. Treasury15 927 42 126 47 43 122 125 84 34 14 48 58 183

Other liabilities and accrued

dividends16 4,733 132 2,428 173 179 466 291 238 119 125 106 168 309

Total liabilities 4,443,136 118,030 2,572,399 108,032 118,917 252,747 244,878 176,914 52,677 33,175 65,511 156,339 543,515

Capital

Capital paid in 28,606 1,296 9,208 1,597 2,231 6,557 1,629 768 267 120 300 411 4,224

Surplus 28,606 1,296 9,208 1,597 2,231 6,557 1,629 768 267 120 300 411 4,224

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

Total liabilities and capital 4,500,348 120,621 2,590,814 111,226 123,379 265,862 248,135 178,450 53,211 33,415 66,111 157,161 551,962

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, February 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 Feb 4, 2015

Federal Reserve notes outstanding 1,485,780

Less: Notes held by F.R. Banks not subject to collateralization 195,008

Federal Reserve notes to be collateralized 1,290,772

Collateral held against Federal Reserve notes 1,290,772

Gold certificate account 11,037

Special drawing rights certificate account 5,200

U.S. Treasury, agency debt, and mortgage-backed securities pledged1,2 1,274,535

Other assets pledged 0

Memo:

Total U.S. Treasury, agency debt, and mortgage-backed securities1,2 4,236,920

Less: Face value of securities under reverse repurchase agreements 238,348

U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 3,998,572

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.