FEDERAL RESERVE statistical release

H.4.1

Factors Affecting Reserve Balances of Depository Institutions and

Condition Statement of Federal Reserve Banks January 29, 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

Jan 28, 2015 Jan 21, 2015 Jan 29, 2014

Wednesday

Jan 28, 2015

Reserve Bank credit 4,468,749 + 1,068 + 410,143 4,461,085

Securities held outright1 4,243,967 + 392 + 415,064 4,237,064

U.S. Treasury securities 2,460,856 - 131 + 223,239 2,460,804

Bills2 0 0 0 0

Notes and bonds, nominal2 2,346,712 0 + 215,075 2,346,712

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

Inflation compensation3 15,675 - 131 + 2,311 15,624

Federal agency debt securities2 37,588 0 - 17,323 37,588

Mortgage-backed securities4 1,745,524 + 524 + 209,149 1,738,672

Unamortized premiums on securities held outright5 206,079 - 244 - 2,906 205,742

Unamortized discounts on securities held outright5 -18,273 + 32 - 4,434 -18,258

Repurchase agreements6 0 0 0 0

Loans 39 - 62 - 92 30

Primary credit 31 - 60 + 14 22

Secondary credit 0 0 0 0

Seasonal credit 9 - 1 - 9 7

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

Other credit extensions 0 0 0 0

Net portfolio holdings of Maiden Lane LLC8 1,681 + 1 + 131 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 -367 + 46 + 139 -347

Central bank liquidity swaps11 2 - 8 - 259 1

Other Federal Reserve assets12 35,619 + 910 + 2,690 35,168

Foreign currency denominated assets13 20,272 - 260 - 3,667 20,302

Gold stock 11,041 0 0 11,041

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

Treasury currency outstanding14 46,411 + 14 + 821 46,411

Total factors supplying reserve funds 4,551,672 + 822 + 407,297 4,544,039

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

Jan 28, 2015 Jan 21, 2015 Jan 29, 2014

Wednesday

Jan 28, 2015

Currency in circulation14 1,328,975 - 1,821 + 104,136 1,330,079

Reverse repurchase agreements15 257,482 + 9,256 + 73,622 281,490

Foreign official and international accounts 115,965 + 4,186 + 14,518 117,937

Others 141,517 + 5,070 + 59,104 163,553

Treasury cash holdings 216 + 10 - 45 202

Deposits with F.R. Banks, other than reserve balances 237,455 + 52,095 + 84,736 207,630

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

U.S. Treasury, General Account 201,192 + 31,040 + 111,855 194,311

Foreign official 5,230 + 9 - 2,820 5,211

Other16 31,033 + 21,046 - 11,477 8,108

Other liabilities and capital17 62,391 - 1,480 - 1,108 62,062

Total factors, other than reserve balances,

absorbing reserve funds 1,886,519 + 58,061 + 261,341 1,881,464

Reserve balances with Federal Reserve Banks 2,665,153 - 57,239 + 145,955 2,662,575

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

Jan 28, 2015 Jan 21, 2015 Jan 29, 2014

Wednesday

Jan 28, 2015

Securities held in custody for foreign official and international

accounts 3,270,871 - 13,630 - 63,657 3,258,661

Marketable U.S. Treasury securities1 2,942,149 - 12,211 - 40,736 2,929,747

Federal agency debt and mortgage-backed securities2 286,268 - 2,094 - 21,097 286,410

Other securities3 42,454 + 676 - 1,824 42,504

Securities lent to dealers 10,337 - 470 - 1,237 10,612

Overnight facility4 10,337 - 470 - 1,237 10,612

U.S. Treasury securities 9,864 - 442 - 593 10,160

Federal agency debt securities 472 - 29 - 645 452

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, January 28, 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 30 0 0 0 0 ... 30

U.S. Treasury securities1

Holdings 0 6 3,514 1,113,921 693,727 649,635 2,460,804

Weekly changes 0 0 0 - 21 - 28 - 93 - 140

Federal agency debt securities2

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

Weekly changes + 711 - 711 0 0 0 0 0

Mortgage-backed securities3

Holdings 0 0 0 14 6,736 1,731,922 1,738,672

Weekly changes 0 0 0 0 - 112 - 11,749 - 11,860

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

Central bank liquidity swaps5 1 0 0 0 0 0 1

Reverse repurchase agreements4 281,490 0 ... ... ... ... 281,490

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 Jan 28, 2015

Mortgage-backed securities held outright1 1,738,672

Commitments to buy mortgage-backed securities2 24,115

Commitments to sell mortgage-backed securities2 377

Cash and cash equivalents3 48

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 Jan 28, 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

Jan 28, 2015 Jan 21, 2015 Jan 29, 2014

Assets

Gold certificate account 11,037 0 0

Special drawing rights certificate account 5,200 0 0

Coin 1,951 + 23 - 68

Securities, unamortized premiums and discounts,

repurchase agreements, and loans 4,424,578 - 12,805 + 399,445

Securities held outright1 4,237,064 - 12,001 + 406,753

U.S. Treasury securities 2,460,804 - 140 + 217,628

Bills2 0 0 0

Notes and bonds, nominal2 2,346,712 0 + 209,497

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

Inflation compensation3 15,624 - 140 + 2,278

Federal agency debt securities2 37,588 0 - 17,323

Mortgage-backed securities4 1,738,672 - 11,860 + 206,448

Unamortized premiums on securities held outright5 205,742 - 716 - 3,040

Unamortized discounts on securities held outright5 -18,258 + 37 - 4,172

Repurchase agreements6 0 0 0

Loans 30 - 125 - 97

Net portfolio holdings of Maiden Lane LLC7 1,686 + 6 + 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) 138 - 105 - 6

Bank premises 2,262 0 - 24

Central bank liquidity swaps10 1 - 9 - 260

Foreign currency denominated assets11 20,302 - 255 - 3,659

Other assets12 32,912 + 276 + 2,586

Total assets (0) 4,500,064 - 12,872 + 397,926

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

Jan 28, 2015 Jan 21, 2015 Jan 29, 2014

Liabilities

Federal Reserve notes, net of F.R. Bank holdings 1,285,817 - 755 + 102,676

Reverse repurchase agreements13 281,490 + 1,176 + 86,062

Deposits (0) 2,870,211 - 11,942 + 209,907

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

Other deposits held by depository institutions 2,662,580 - 9,124 + 136,805

U.S. Treasury, General Account 194,311 - 1,920 + 98,679

Foreign official 5,211 - 1 - 2,851

Other14 (0) 8,108 - 898 - 9,905

Deferred availability cash items (0) 485 - 349 - 124

Other liabilities and accrued dividends15 4,915 - 1,002 - 2,708

Total liabilities (0) 4,442,917 - 12,872 + 395,811

Capital accounts

Capital paid in 28,573 - 1 + 1,057

Surplus 28,573 - 1 + 1,057

Other capital accounts 0 0 0

Total capital 57,147 0 + 2,114

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, January 28, 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 1,951 35 80 129 124 314 210 287 23 47 157 195 349

Securities, unamortized premiums and

discounts, repurchase agreements,

and loans 4,424,578 89,501 2,715,647 105,999 96,603 247,291 244,587 180,839 54,574 27,120 58,284 134,817 469,316

Securities held outright1 4,237,064 85,708 2,600,556 101,507 92,510 236,812 234,222 173,175 52,261 25,966 55,812 129,104 449,430

U.S. Treasury securities 2,460,804 49,778 1,510,352 58,953 53,728 137,536 136,032 100,577 30,352 15,081 32,415 74,981 261,020

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

Notes and bonds3 2,460,804 49,778 1,510,352 58,953 53,728 137,536 136,032 100,577 30,352 15,081 32,415 74,981 261,020

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 1,738,672 35,170 1,067,133 41,653 37,961 97,176 96,113 71,062 21,445 10,655 22,902 52,978 184,423

Unamortized premiums on securities 

held outright5 205,742 4,162 126,277 4,929 4,492 11,499 11,373 8,409 2,538 1,261 2,710 6,269 21,823

Unamortized discounts on securities 

held outright5 -18,258 -369 -11,206 -437 -399 -1,020 -1,009 -746 -225 -112 -241 -556 -1,937

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

Loans 30 0 20 0 0 0 0 2 0 5 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 138 0 0 0 0 0 137 0 0 0 0 0 0

Bank premises 2,262 126 437 75 110 219 212 201 122 96 241 223 201

Central bank liquidity swaps10 1 0 0 0 0 0 0 0 0 0 0 0 0

Foreign currency denominated

assets11 20,302 923 6,531 1,526 1,614 4,233 1,167 560 171 86 214 339 2,937

Other assets12 32,912 702 19,919 785 722 1,972 1,803 1,323 465 230 461 1,114 3,416

Interdistrict settlement account 0 + 25,664 - 84,743 - 3,141 + 16,936 - 1,933 - 4,994 - 12,253 - 4,701 + 3,500 + 2,359 + 11,791 + 51,515

Total assets 4,500,064 117,499 2,665,499 105,922 116,811 253,331 245,125 172,088 51,082 31,342 62,159 149,641 529,567

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, January 28, 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 1,480,713 48,153 474,991 47,954 70,804 104,187 212,517 102,129 42,899 25,029 40,159 121,347 190,544

Less: Notes held by F.R. Banks 194,896 5,628 65,176 5,927 10,364 12,889 24,639 12,268 5,428 3,154 5,148 15,983 28,290

Federal Reserve notes, net 1,285,817 42,525 409,815 42,027 60,440 91,297 187,878 89,861 37,471 21,875 35,011 105,364 162,254

Reverse repurchase agreements13 281,490 5,694 172,768 6,744 6,146 15,733 15,561 11,505 3,472 1,725 3,708 8,577 29,858

Deposits 2,870,211 66,539 2,062,342 53,771 45,580 132,693 37,664 68,882 9,475 7,270 22,704 34,660 328,631

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 2,662,580 66,536 1,854,965 53,744 45,577 132,510 37,655 68,869 9,475 7,270 22,702 34,656 328,621

U.S. Treasury, General Account 194,311 0 194,311 0 0 0 0 0 0 0 0 0 0

Foreign official 5,211 2 5,184 3 3 8 2 1 0 0 0 1 6

Other14 8,108 2 7,881 24 0 175 7 12 0 0 1 3 4

Deferred availability cash items 485 0 0 0 0 0 386 0 0 99 0 0 0

Interest on Federal Reserve notes due

to U.S. Treasury15 1,256 1 926 8 -1 11 74 53 9 4 3 45 123

Other liabilities and accrued

dividends16 3,659 149 1,233 179 186 483 311 251 121 129 133 173 310

Total liabilities 4,442,917 114,908 2,647,084 102,729 112,350 240,217 241,873 170,552 50,549 31,102 61,560 148,819 521,176

Capital

Capital paid in 28,573 1,296 9,208 1,597 2,230 6,557 1,626 768 267 120 300 411 4,195

Surplus 28,573 1,296 9,208 1,597 2,230 6,557 1,626 768 267 120 300 411 4,195

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

Total liabilities and capital 4,500,064 117,499 2,665,499 105,922 116,811 253,331 245,125 172,088 51,082 31,342 62,159 149,641 529,567

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, January 28, 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 Jan 28, 2015

Federal Reserve notes outstanding 1,480,713

Less: Notes held by F.R. Banks not subject to collateralization 194,896

Federal Reserve notes to be collateralized 1,285,817

Collateral held against Federal Reserve notes 1,285,817

Gold certificate account 11,037

Special drawing rights certificate account 5,200

U.S. Treasury, agency debt, and mortgage-backed securities pledged1,2 1,269,580

Other assets pledged 0

Memo:

Total U.S. Treasury, agency debt, and mortgage-backed securities1,2 4,237,064

Less: Face value of securities under reverse repurchase agreements 247,500

U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 3,989,564

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.