FEDERAL RESERVE statistical release

H.4.1

Factors Affecting Reserve Balances of Depository Institutions and

Condition Statement of Federal Reserve Banks June 4, 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

Jun 3, 2015 May 27, 2015 Jun 4, 2014

Wednesday

Jun 3, 2015

Reserve Bank credit 4,426,944 - 11,245 + 142,071 4,427,107

Securities held outright1 4,219,053 - 10,673 + 151,803 4,219,080

U.S. Treasury securities 2,460,723 + 131 + 85,538 2,460,749

Bills2 0 0 0 0

Notes and bonds, nominal2 2,346,643 0 + 82,814 2,346,643

Notes and bonds, inflation-indexed2 98,534 0 + 2,466 98,534

Inflation compensation3 15,546 + 131 + 258 15,572

Federal agency debt securities2 35,895 0 - 8,187 35,895

Mortgage-backed securities4 1,722,435 - 10,804 + 74,452 1,722,436

Unamortized premiums on securities held outright5 199,412 - 671 - 9,890 199,276

Unamortized discounts on securities held outright5 -17,661 + 35 + 418 -17,650

Repurchase agreements6 0 0 0 0

Loans 107 + 10 - 50 124

Primary credit 13 + 11 - 3 19

Secondary credit 0 0 0 0

Seasonal credit 94 - 1 + 33 105

Term Asset-Backed Securities Loan Facility7 0 0 - 79 0

Other credit extensions 0 0 0 0

Net portfolio holdings of Maiden Lane LLC8 1,699 + 2 + 44 1,700

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 - 91 0

Float -325 + 91 + 288 -291

Central bank liquidity swaps11 0 - 2 - 174 0

Other Federal Reserve assets12 24,659 - 38 - 192 24,868

Foreign currency denominated assets13 19,585 - 86 - 4,393 19,850

Gold stock 11,041 0 0 11,041

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

Treasury currency outstanding14 46,797 + 14 + 903 46,797

Total factors supplying reserve funds 4,509,567 - 11,318 + 138,581 4,509,996

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

Jun 3, 2015 May 27, 2015 Jun 4, 2014

Wednesday

Jun 3, 2015

Currency in circulation14 1,368,223 - 118 + 87,737 1,368,585

Reverse repurchase agreements15 285,397 + 16,141 + 28,995 242,586

Foreign official and international accounts 152,322 - 1,903 + 44,196 147,197

Others 133,076 + 18,045 - 15,201 95,389

Treasury cash holdings 167 - 6 - 20 204

Deposits with F.R. Banks, other than reserve balances 344,837 + 38,453 + 254,212 342,600

Term deposits held by depository institutions 145,702 + 65,783 + 102,798 145,702

U.S. Treasury, General Account 185,794 + 10,217 + 151,899 184,099

Foreign official 5,232 - 24 - 2,561 5,231

Other16 8,109 - 37,524 + 2,076 7,569

Other liabilities and capital17 66,178 + 238 + 1,963 65,976

Total factors, other than reserve balances,

absorbing reserve funds 2,064,802 + 54,708 + 372,888 2,019,951

Reserve balances with Federal Reserve Banks 2,444,765 - 66,026 - 234,306 2,490,044

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

Jun 3, 2015 May 27, 2015 Jun 4, 2014

Wednesday

Jun 3, 2015

Securities held in custody for foreign official and international

accounts 3,353,610 + 26,868 + 58,042 3,356,352

Marketable U.S. Treasury securities1 3,022,143 + 28,347 + 62,235 3,025,124

Federal agency debt and mortgage-backed securities2 287,475 - 311 - 6,663 287,288

Other securities3 43,992 - 1,169 + 2,470 43,940

Securities lent to dealers 10,934 + 116 + 365 10,974

Overnight facility4 10,934 + 116 + 365 10,974

U.S. Treasury securities 10,659 + 117 + 1,132 10,673

Federal agency debt securities 274 - 1 - 767 301

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, June 3, 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 48 76 0 0 0 ... 124

U.S. Treasury securities1

Holdings 0 1,289 129,567 1,098,741 586,944 644,209 2,460,749

Weekly changes 0 0 + 25,248 - 20,477 - 4,734 + 73 + 110

Federal agency debt securities2

Holdings 0 802 9,997 22,749 0 2,347 35,895

Weekly changes 0 0 0 0 0 0 0

Mortgage-backed securities3

Holdings 0 0 0 36 9,502 1,712,897 1,722,436

Weekly changes 0 0 0 + 12 - 12 + 1 + 2

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

Central bank liquidity swaps5 0 0 0 0 0 0 0

Reverse repurchase agreements4 242,586 0 ... ... ... ... 242,586

Term deposits 145,702 0 0 ... ... ... 145,702

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 Jun 3, 2015

Mortgage-backed securities held outright1 1,722,436

Commitments to buy mortgage-backed securities2 47,634

Commitments to sell mortgage-backed securities2 0

Cash and cash equivalents3 10

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 Jun 3, 2015

Net portfolio holdings of Maiden Lane LLC1 1,700

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

Jun 3, 2015 May 27, 2015 Jun 4, 2014

Assets

Gold certificate account 11,037 0 0

Special drawing rights certificate account 5,200 0 0

Coin 1,795 + 5 - 63

Securities, unamortized premiums and discounts,

repurchase agreements, and loans 4,400,830 - 199 + 139,220

Securities held outright1 4,219,080 + 112 + 148,829

U.S. Treasury securities 2,460,749 + 110 + 82,563

Bills2 0 0 0

Notes and bonds, nominal2 2,346,643 0 + 79,853

Notes and bonds, inflation-indexed2 98,534 0 + 2,466

Inflation compensation3 15,572 + 110 + 244

Federal agency debt securities2 35,895 0 - 8,187

Mortgage-backed securities4 1,722,436 + 2 + 74,453

Unamortized premiums on securities held outright5 199,276 - 370 - 10,034

Unamortized discounts on securities held outright5 -17,650 + 31 + 464

Repurchase agreements6 0 0 0

Loans 124 + 28 - 40

Net portfolio holdings of Maiden Lane LLC7 1,700 + 3 + 46

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) 80 - 13 - 5

Bank premises 2,237 - 4 - 24

Central bank liquidity swaps10 0 - 2 - 174

Foreign currency denominated assets11 19,850 + 416 - 4,051

Other assets12 22,631 + 1,172 - 330

Total assets (0) 4,465,360 + 1,379 + 134,443

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

Jun 3, 2015 May 27, 2015 Jun 4, 2014

Liabilities

Federal Reserve notes, net of F.R. Bank holdings 1,323,783 - 1,096 + 86,725

Reverse repurchase agreements13 242,586 - 36,051 + 9,632

Deposits (0) 2,832,644 + 38,120 + 35,820

Term deposits held by depository institutions 145,702 + 65,783 + 102,798

Other deposits held by depository institutions 2,490,044 - 46,876 - 218,020

U.S. Treasury, General Account 184,099 + 20,518 + 152,197

Foreign official 5,231 - 1 - 2,548

Other14 (0) 7,569 - 1,303 + 1,394

Deferred availability cash items (0) 371 - 475 - 443

Other liabilities and accrued dividends15 7,726 + 867 + 772

Total liabilities (0) 4,407,110 + 1,364 + 132,506

Capital accounts

Capital paid in 29,125 + 7 + 969

Surplus 29,125 + 7 + 969

Other capital accounts 0 0 0

Total capital 58,250 + 14 + 1,937

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, June 3, 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 1,795 31 60 126 122 291 185 266 25 45 145 189 313

Securities, unamortized premiums and

discounts, repurchase agreements,

and loans 4,400,830 111,556 2,641,797 109,453 105,803 239,018 247,832 163,534 45,900 26,819 57,176 141,765 510,179

Securities held outright1 4,219,080 106,952 2,532,764 104,935 101,437 229,153 237,585 156,758 43,999 25,659 54,808 135,910 489,120

U.S. Treasury securities 2,460,749 62,379 1,477,217 61,203 59,162 133,652 138,570 91,428 25,662 14,965 31,966 79,269 285,276

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

Notes and bonds3 2,460,749 62,379 1,477,217 61,203 59,162 133,652 138,570 91,428 25,662 14,965 31,966 79,269 285,276

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 1,722,436 43,663 1,033,999 42,840 41,411 93,552 96,994 63,996 17,962 10,475 22,375 55,485 199,683

Unamortized premiums on securities 

held outright5 199,276 5,052 119,628 4,956 4,791 10,823 11,222 7,404 2,078 1,212 2,589 6,419 23,102

Unamortized discounts on securities 

held outright5 -17,650 -447 -10,595 -439 -424 -959 -994 -656 -184 -107 -229 -569 -2,046

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

Loans 124 0 0 0 0 0 19 28 7 55 8 4 3

Net portfolio holdings of Maiden

Lane LLC7 1,700 0 1,700 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 80 0 0 0 0 0 80 0 0 1 0 0 0

Bank premises 2,237 125 433 73 108 216 209 202 119 94 239 220 197

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

Foreign currency denominated

assets11 19,850 900 6,400 1,109 1,547 4,554 1,129 533 185 83 209 286 2,914

Other assets12 22,631 605 13,024 568 551 1,390 1,297 857 462 170 328 755 2,624

Interdistrict settlement account 0 + 16,613 - 111,681 + 4,923 + 27,050 + 18,437 - 8,206 + 6,070 + 4,051 + 4,924 + 4,790 + 13,837 + 19,192

Total assets 4,465,360 130,372 2,557,259 116,801 135,924 265,101 244,779 172,621 51,190 32,397 63,327 158,225 537,363

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, June 3, 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 1,502,686 50,067 484,987 50,838 78,335 104,043 208,289 105,862 44,811 26,584 41,784 119,744 187,342

Less: Notes held by F.R. Banks 178,904 5,336 62,734 5,108 9,190 11,989 22,918 11,214 4,799 2,843 4,812 13,420 24,540

Federal Reserve notes, net 1,323,783 44,731 422,253 45,731 69,145 92,054 185,371 94,648 40,012 23,741 36,971 106,324 162,802

Reverse repurchase agreements13 242,586 6,149 145,627 6,034 5,832 13,176 13,661 9,013 2,530 1,475 3,151 7,814 28,123

Deposits 2,832,644 76,651 1,966,548 61,439 56,146 145,929 41,689 67,026 7,919 6,674 22,446 42,964 337,213

Term deposits held by depository

institutions 145,702 50 81,656 22,600 14,000 56 265 7,298 32 0 3,025 1,100 15,620

Other deposits held by depository

institutions 2,490,044 76,597 1,688,186 38,837 42,143 145,750 41,415 59,726 7,851 6,673 19,420 41,862 321,585

U.S. Treasury, General Account 184,099 0 184,099 0 0 0 0 0 0 0 0 0 0

Foreign official 5,231 2 5,204 2 3 9 2 1 0 0 0 1 6

Other14 7,569 2 7,404 0 0 113 7 2 36 0 1 2 2

Deferred availability cash items 371 0 0 0 0 0 267 0 0 105 0 0 0

Interest on Federal Reserve notes due

to U.S. Treasury15 2,522 68 1,446 33 78 191 163 92 27 14 30 75 304

Other liabilities and accrued

dividends 5,204 170 2,364 216 237 606 347 262 138 133 122 188 422

Total liabilities 4,407,110 127,769 2,538,239 113,452 131,438 251,955 241,497 171,041 50,626 32,141 62,721 157,366 528,865

Capital

Capital paid in 29,125 1,302 9,510 1,675 2,243 6,573 1,641 790 282 128 303 430 4,249

Surplus 29,125 1,302 9,510 1,675 2,243 6,573 1,641 790 282 128 303 430 4,249

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

Total liabilities and capital 4,465,360 130,372 2,557,259 116,801 135,924 265,101 244,779 172,621 51,190 32,397 63,327 158,225 537,363

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, June 3, 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 Jun 3, 2015

Federal Reserve notes outstanding 1,502,686

Less: Notes held by F.R. Banks not subject to collateralization 178,904

Federal Reserve notes to be collateralized 1,323,783

Collateral held against Federal Reserve notes 1,323,783

Gold certificate account 11,037

Special drawing rights certificate account 5,200

U.S. Treasury, agency debt, and mortgage-backed securities pledged1,2 1,307,546

Other assets pledged 0

Memo:

Total U.S. Treasury, agency debt, and mortgage-backed securities1,2 4,219,080

Less: Face value of securities under reverse repurchase agreements 224,292

U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 3,994,788

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.