FEDERAL RESERVE statistical release

H.4.1

Factors Affecting Reserve Balances of Depository Institutions and

Condition Statement of Federal Reserve Banks February 19, 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 18, 2015 Feb 11, 2015 Feb 19, 2014

Wednesday

Feb 18, 2015

Reserve Bank credit 4,473,864 + 11,493 + 365,041 4,457,611

Securities held outright1 4,249,906 + 13,391 + 370,626 4,246,232

U.S. Treasury securities 2,460,378 - 171 + 197,067 2,460,328

Bills2 0 0 0 0

Notes and bonds, nominal2 2,346,711 0 + 190,328 2,346,711

Notes and bonds, inflation-indexed2 98,469 0 + 4,886 98,469

Inflation compensation3 15,198 - 171 + 1,853 15,148

Federal agency debt securities2 36,877 - 406 - 14,534 36,877

Mortgage-backed securities4 1,752,651 + 13,969 + 188,093 1,749,027

Unamortized premiums on securities held outright5 205,427 + 271 - 3,902 205,218

Unamortized discounts on securities held outright5 -18,172 + 36 - 3,205 -18,159

Repurchase agreements6 0 0 0 0

Loans 17 + 4 - 84 6

Primary credit 10 + 2 + 10 1

Secondary credit 1 + 1 + 1 0

Seasonal credit 6 + 1 + 2 5

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 0 + 106 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 - 106 0

Float -416 + 4 + 178 -681

Central bank liquidity swaps11 0 0 - 360 0

Other Federal Reserve assets12 35,416 - 2,212 + 1,874 23,310

Foreign currency denominated assets13 20,292 + 81 - 3,738 20,207

Gold stock 11,041 0 0 11,041

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

Treasury currency outstanding14 46,399 + 14 + 752 46,399

Total factors supplying reserve funds 4,556,797 + 11,589 + 362,055 4,540,459

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 18, 2015 Feb 11, 2015 Feb 19, 2014

Wednesday

Feb 18, 2015

Currency in circulation14 1,346,460 + 8,690 + 105,111 1,348,432

Reverse repurchase agreements15 244,040 - 498 + 51,220 297,054

Foreign official and international accounts 126,582 + 4,706 + 20,359 129,781

Others 117,458 - 5,204 + 30,861 167,273

Treasury cash holdings 208 + 6 - 60 227

Deposits with F.R. Banks, other than reserve balances 443,232 + 80,866 + 362,960 384,933

Term deposits held by depository institutions 296,921 + 108,838 + 296,921 296,921

U.S. Treasury, General Account 118,836 - 40,071 + 77,652 73,097

Foreign official 5,219 + 2 - 2,812 5,212

Other16 22,256 + 12,097 - 8,801 9,703

Other liabilities and capital17 65,438 + 1,713 + 1,759 63,912

Total factors, other than reserve balances,

absorbing reserve funds 2,099,378 + 90,777 + 520,989 2,094,558

Reserve balances with Federal Reserve Banks 2,457,419 - 79,188 - 158,933 2,445,901

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 18, 2015 Feb 11, 2015 Feb 19, 2014

Wednesday

Feb 18, 2015

Securities held in custody for foreign official and international

accounts 3,262,783 + 2,520 - 50,149 3,267,522

Marketable U.S. Treasury securities1 2,933,018 + 1,772 - 29,869 2,938,578

Federal agency debt and mortgage-backed securities2 286,841 + 401 - 18,372 285,927

Other securities3 42,924 + 346 - 1,908 43,017

Securities lent to dealers 12,092 + 824 + 1,642 12,952

Overnight facility4 12,092 + 824 + 1,642 12,952

U.S. Treasury securities 11,661 + 828 + 2,273 12,500

Federal agency debt securities 431 - 4 - 631 452

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, February 18, 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 6 0 0 0 0 ... 6

U.S. Treasury securities1

Holdings 0 1,900 8,397 1,147,466 658,999 643,567 2,460,328

Weekly changes - 2 + 1,447 + 3,421 + 29,487 - 28,653 - 5,860 - 162

Federal agency debt securities2

Holdings 0 982 4,577 28,971 0 2,347 36,877

Weekly changes 0 0 0 0 0 0 0

Mortgage-backed securities3

Holdings 0 0 0 15 7,931 1,741,081 1,749,027

Weekly changes 0 0 0 0 + 56 + 10,275 + 10,331

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

Central bank liquidity swaps5 0 0 0 0 0 0 0

Reverse repurchase agreements4 297,054 0 ... ... ... ... 297,054

Term deposits 296,921 0 0 ... ... ... 296,921

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 18, 2015

Mortgage-backed securities held outright1 1,749,027

Commitments to buy mortgage-backed securities2 24,602

Commitments to sell mortgage-backed securities2 144

Cash and cash equivalents3 18

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 18, 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 18, 2015 Feb 11, 2015 Feb 19, 2014

Assets

Gold certificate account 11,037 0 0

Special drawing rights certificate account 5,200 0 0

Coin 1,931 - 26 - 108

Securities, unamortized premiums and discounts,

repurchase agreements, and loans 4,433,297 + 10,386 + 350,934

Securities held outright1 4,246,232 + 10,169 + 358,263

U.S. Treasury securities 2,460,328 - 162 + 192,456

Bills2 0 0 0

Notes and bonds, nominal2 2,346,711 0 + 185,766

Notes and bonds, inflation-indexed2 98,469 0 + 4,886

Inflation compensation3 15,148 - 162 + 1,804

Federal agency debt securities2 36,877 0 - 14,534

Mortgage-backed securities4 1,749,027 + 10,331 + 180,341

Unamortized premiums on securities held outright5 205,218 + 191 - 4,222

Unamortized discounts on securities held outright5 -18,159 + 37 - 3,011

Repurchase agreements6 0 0 0

Loans 6 - 11 - 95

Net portfolio holdings of Maiden Lane LLC7 1,686 0 + 106

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 - 106

Items in process of collection (0) 184 + 10 + 67

Bank premises 2,254 + 1 - 28

Central bank liquidity swaps10 0 0 - 360

Foreign currency denominated assets11 20,207 + 123 - 3,858

Other assets12 21,056 - 15,328 + 1,066

Total assets (0) 4,496,851 - 4,834 + 347,627

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 18, 2015 Feb 11, 2015 Feb 19, 2014

Liabilities

Federal Reserve notes, net of F.R. Bank holdings 1,304,186 + 6,079 + 101,624

Reverse repurchase agreements13 297,054 + 48,479 + 103,169

Deposits (0) 2,830,834 - 60,038 + 142,054

Term deposits held by depository institutions 296,921 + 108,838 + 296,921

Other deposits held by depository institutions 2,445,901 - 112,312 - 164,716

U.S. Treasury, General Account 73,097 - 57,668 + 23,347

Foreign official 5,212 - 1 - 2,765

Other14 (0) 9,703 + 1,105 - 10,733

Deferred availability cash items (0) 865 + 282 - 365

Other liabilities and accrued dividends15 6,669 + 349 - 269

Total liabilities (0) 4,439,608 - 4,849 + 346,213

Capital accounts

Capital paid in 28,622 + 8 + 708

Surplus 28,622 + 8 + 708

Other capital accounts 0 0 0

Total capital 57,243 + 15 + 1,414

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 18, 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 1,931 33 77 133 125 313 206 286 23 48 156 191 341

Securities, unamortized premiums and

discounts, repurchase agreements,

and loans 4,433,297 89,678 2,720,993 106,209 96,794 247,780 245,070 181,199 54,682 27,169 58,397 135,084 470,244

Securities held outright1 4,246,232 85,894 2,606,183 101,727 92,710 237,325 234,729 173,549 52,374 26,022 55,933 129,384 450,402

U.S. Treasury securities 2,460,328 49,768 1,510,060 58,942 53,718 137,509 136,006 100,557 30,346 15,078 32,408 74,967 260,970

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

Notes and bonds3 2,460,328 49,768 1,510,060 58,942 53,718 137,509 136,006 100,557 30,346 15,078 32,408 74,967 260,970

Federal agency debt securities2 36,877 746 22,634 883 805 2,061 2,039 1,507 455 226 486 1,124 3,912

Mortgage-backed securities4 1,749,027 35,380 1,073,489 41,901 38,187 97,754 96,685 71,485 21,573 10,719 23,039 53,293 185,521

Unamortized premiums on securities 

held outright5 205,218 4,151 125,955 4,916 4,481 11,470 11,344 8,388 2,531 1,258 2,703 6,253 21,768

Unamortized discounts on securities 

held outright5 -18,159 -367 -11,145 -435 -396 -1,015 -1,004 -742 -224 -111 -239 -553 -1,926

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

Loans 6 0 0 1 0 0 0 4 0 0 1 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 184 0 0 0 0 1 182 0 0 0 0 0 0

Bank premises 2,254 124 434 75 110 219 211 201 121 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 20,207 916 6,514 1,129 1,575 4,637 1,150 543 188 85 213 291 2,967

Other assets12 21,056 480 12,367 523 478 1,362 1,180 864 341 161 317 741 2,241

Interdistrict settlement account 0 + 26,384 - 186,308 + 14,109 + 22,328 + 9,270 + 2,800 + 674 - 973 + 6,658 + 8,421 + 22,676 + 73,961

Total assets 4,496,851 118,165 2,561,705 122,725 122,111 264,817 252,802 184,897 54,811 34,479 68,189 160,367 551,784

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 18, 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 1,492,320 49,965 474,965 48,829 71,976 104,990 212,400 104,422 43,915 26,304 41,895 121,992 190,667

Less: Notes held by F.R. Banks 188,134 5,521 66,988 6,074 9,851 12,310 22,541 12,192 4,645 3,086 5,401 14,158 25,366

Federal Reserve notes, net 1,304,186 44,444 407,977 42,755 62,125 92,680 189,860 92,230 39,270 23,218 36,494 107,834 165,301

Reverse repurchase agreements13 297,054 6,009 182,321 7,117 6,486 16,603 16,421 12,141 3,664 1,820 3,913 9,051 31,509

Deposits 2,830,834 64,944 1,949,561 69,421 48,798 141,797 42,138 78,658 11,195 8,894 27,046 42,417 345,966

Term deposits held by depository

institutions 296,921 245 176,361 39,870 16,750 2,558 833 9,475 79 70 2,616 1,706 46,358

Other deposits held by depository

institutions 2,445,901 64,693 1,685,427 29,523 32,045 139,075 41,297 69,168 11,116 8,824 24,428 40,708 299,598

U.S. Treasury, General Account 73,097 0 73,097 0 0 0 0 0 0 0 0 0 0

Foreign official 5,212 2 5,185 2 3 9 2 1 0 0 0 1 6

Other14 9,703 4 9,492 26 0 154 7 13 0 0 1 2 4

Deferred availability cash items 865 0 0 0 0 0 696 0 0 169 0 0 0

Interest on Federal Reserve notes due

to U.S. Treasury15 1,960 41 1,191 48 47 125 110 75 21 9 25 59 209

Other liabilities and accrued

dividends16 4,709 146 2,235 190 192 497 310 249 121 126 112 177 353

Total liabilities 4,439,608 115,584 2,543,285 119,531 117,649 251,701 249,535 183,352 54,271 34,237 67,589 159,538 543,337

Capital

Capital paid in 28,622 1,291 9,210 1,597 2,231 6,558 1,634 772 270 121 300 414 4,223

Surplus 28,622 1,291 9,210 1,597 2,231 6,558 1,634 772 270 121 300 414 4,223

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

Total liabilities and capital 4,496,851 118,165 2,561,705 122,725 122,111 264,817 252,802 184,897 54,811 34,479 68,189 160,367 551,784

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 18, 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 18, 2015

Federal Reserve notes outstanding 1,492,320

Less: Notes held by F.R. Banks not subject to collateralization 188,134

Federal Reserve notes to be collateralized 1,304,186

Collateral held against Federal Reserve notes 1,304,186

Gold certificate account 11,037

Special drawing rights certificate account 5,200

U.S. Treasury, agency debt, and mortgage-backed securities pledged1,2 1,287,949

Other assets pledged 0

Memo:

Total U.S. Treasury, agency debt, and mortgage-backed securities1,2 4,246,232

Less: Face value of securities under reverse repurchase agreements 275,929

U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 3,970,304

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.