FEDERAL RESERVE statistical release

H.4.1

Factors Affecting Reserve Balances of Depository Institutions and

Condition Statement of Federal Reserve Banks February 26, 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 25, 2015 Feb 18, 2015 Feb 26, 2014

Wednesday

Feb 25, 2015

Reserve Bank credit 4,459,378 - 14,486 + 342,174 4,447,571

Securities held outright1 4,247,218 - 2,688 + 348,446 4,237,251

U.S. Treasury securities 2,460,226 - 152 + 187,181 2,460,167

Bills2 0 0 0 0

Notes and bonds, nominal2 2,346,711 0 + 180,592 2,346,711

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

Inflation compensation3 15,046 - 152 + 1,703 14,987

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

Mortgage-backed securities4 1,750,115 - 2,536 + 175,799 1,740,208

Unamortized premiums on securities held outright5 205,066 - 361 - 4,481 204,622

Unamortized discounts on securities held outright5 -18,138 + 34 - 2,743 -18,122

Repurchase agreements6 0 0 0 0

Loans 6 - 11 - 94 8

Primary credit 2 - 8 0 3

Secondary credit 0 - 1 0 0

Seasonal credit 4 - 2 + 1 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 -452 - 36 + 140 -575

Central bank liquidity swaps11 3 + 3 - 357 3

Other Federal Reserve assets12 23,988 - 11,428 + 1,347 22,697

Foreign currency denominated assets13 20,253 - 39 - 3,746 20,252

Gold stock 11,041 0 0 11,041

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

Treasury currency outstanding14 46,413 + 14 + 751 46,413

Total factors supplying reserve funds 4,542,285 - 14,512 + 339,178 4,530,477

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 25, 2015 Feb 18, 2015 Feb 26, 2014

Wednesday

Feb 25, 2015

Currency in circulation14 1,349,342 + 2,882 + 100,944 1,351,152

Reverse repurchase agreements15 306,160 + 62,120 + 97,971 306,171

Foreign official and international accounts 128,656 + 2,074 + 24,235 126,421

Others 177,503 + 60,045 + 73,735 179,750

Treasury cash holdings 225 + 17 - 44 216

Deposits with F.R. Banks, other than reserve balances 492,582 + 49,350 + 408,903 462,400

Term deposits held by depository institutions 404,150 + 107,229 + 404,150 404,150

U.S. Treasury, General Account 68,114 - 50,722 + 21,410 46,714

Foreign official 5,244 + 25 - 2,728 5,213

Other16 15,074 - 7,182 - 13,929 6,323

Other liabilities and capital17 65,012 - 426 + 2,338 63,541

Total factors, other than reserve balances,

absorbing reserve funds 2,213,322 + 113,944 + 610,113 2,183,480

Reserve balances with Federal Reserve Banks 2,328,963 - 128,456 - 270,935 2,346,998

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 25, 2015 Feb 18, 2015 Feb 26, 2014

Wednesday

Feb 25, 2015

Securities held in custody for foreign official and international

accounts 3,266,440 + 3,657 - 58,927 3,265,567

Marketable U.S. Treasury securities1 2,939,764 + 6,746 - 30,598 2,939,331

Federal agency debt and mortgage-backed securities2 283,387 - 3,454 - 25,758 282,905

Other securities3 43,289 + 365 - 2,571 43,331

Securities lent to dealers 13,774 + 1,682 + 1,775 13,225

Overnight facility4 13,774 + 1,682 + 1,775 13,225

U.S. Treasury securities 13,328 + 1,667 + 2,522 12,727

Federal agency debt securities 445 + 14 - 748 498

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 25, 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 8 0 0 0 0 ... 8

U.S. Treasury securities1

Holdings 0 1,900 8,397 1,147,442 658,967 643,460 2,460,167

Weekly changes 0 0 0 - 24 - 32 - 107 - 161

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 7,787 1,732,405 1,740,208

Weekly changes 0 0 0 0 - 144 - 8,676 - 8,819

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

Central bank liquidity swaps5 3 0 0 0 0 0 3

Reverse repurchase agreements4 306,171 0 ... ... ... ... 306,171

Term deposits 404,150 0 0 ... ... ... 404,150

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 25, 2015

Mortgage-backed securities held outright1 1,740,208

Commitments to buy mortgage-backed securities2 24,006

Commitments to sell mortgage-backed securities2 0

Cash and cash equivalents3 63

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 25, 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 25, 2015 Feb 18, 2015 Feb 26, 2014

Assets

Gold certificate account 11,037 0 0

Special drawing rights certificate account 5,200 0 0

Coin 1,898 - 33 - 122

Securities, unamortized premiums and discounts,

repurchase agreements, and loans 4,423,760 - 9,537 + 330,192

Securities held outright1 4,237,251 - 8,981 + 337,518

U.S. Treasury securities 2,460,167 - 161 + 181,911

Bills2 0 0 0

Notes and bonds, nominal2 2,346,711 0 + 175,380

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

Inflation compensation3 14,987 - 161 + 1,645

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

Mortgage-backed securities4 1,740,208 - 8,819 + 170,141

Unamortized premiums on securities held outright5 204,622 - 596 - 4,690

Unamortized discounts on securities held outright5 -18,122 + 37 - 2,545

Repurchase agreements6 0 0 0

Loans 8 + 2 - 92

Net portfolio holdings of Maiden Lane LLC7 1,686 0 + 105

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) 192 + 8 + 84

Bank premises 2,252 - 2 - 31

Central bank liquidity swaps10 3 + 3 - 357

Foreign currency denominated assets11 20,252 + 45 - 3,707

Other assets12 20,446 - 610 + 781

Total assets (0) 4,486,725 - 10,126 + 326,753

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 25, 2015 Feb 18, 2015 Feb 26, 2014

Liabilities

Federal Reserve notes, net of F.R. Bank holdings 1,306,848 + 2,662 + 99,279

Reverse repurchase agreements13 306,171 + 9,117 + 73,497

Deposits (0) 2,809,398 - 21,436 + 151,693

Term deposits held by depository institutions 404,150 + 107,229 + 404,150

Other deposits held by depository institutions 2,346,998 - 98,903 - 263,542

U.S. Treasury, General Account 46,714 - 26,383 + 19,287

Foreign official 5,213 + 1 - 2,759

Other14 (0) 6,323 - 3,380 - 5,443

Deferred availability cash items (0) 767 - 98 + 49

Other liabilities and accrued dividends15 5,983 - 686 + 554

Total liabilities (0) 4,429,168 - 10,440 + 325,073

Capital accounts

Capital paid in 28,779 + 157 + 840

Surplus 28,779 + 157 + 840

Other capital accounts 0 0 0

Total capital 57,557 + 314 + 1,680

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 25, 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 1,898 37 78 133 121 306 196 284 20 47 155 184 336

Securities, unamortized premiums and

discounts, repurchase agreements,

and loans 4,423,760 89,486 2,715,137 105,980 96,586 247,246 244,543 180,809 54,564 27,111 58,272 134,793 469,233

Securities held outright1 4,237,251 85,712 2,600,670 101,512 92,514 236,823 234,233 173,182 52,264 25,967 55,814 129,110 449,450

U.S. Treasury securities 2,460,167 49,765 1,509,961 58,938 53,714 137,500 135,997 100,550 30,344 15,077 32,406 74,962 260,952

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

Notes and bonds3 2,460,167 49,765 1,509,961 58,938 53,714 137,500 135,997 100,550 30,344 15,077 32,406 74,962 260,952

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 1,740,208 35,201 1,068,076 41,690 37,995 97,261 96,198 71,125 21,464 10,665 22,923 53,025 184,586

Unamortized premiums on securities 

held outright5 204,622 4,139 125,590 4,902 4,468 11,436 11,311 8,363 2,524 1,254 2,695 6,235 21,704

Unamortized discounts on securities 

held outright5 -18,122 -367 -11,123 -434 -396 -1,013 -1,002 -741 -224 -111 -239 -552 -1,922

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

Loans 8 1 0 0 0 0 1 4 0 1 1 0 1

Net portfolio holdings of Maiden

Lane LLC7 1,686 0 1,686 0 0 0 0 0 0 0 0 0 0

Net portfolio holdings of Maiden

Lane II LLC8 0 0 0 0 0 0 0 0 0 0 0 0 0

Net portfolio holdings of Maiden

Lane III LLC8 0 0 0 0 0 0 0 0 0 0 0 0 0

Net portfolio holdings of TALF LLC9 0 0 0 0 0 0 0 0 0 0 0 0 0

Items in process of collection 192 0 0 0 0 0 191 0 0 1 0 0 0

Bank premises 2,252 122 434 75 110 218 210 202 121 95 241 222 200

Central bank liquidity swaps10 3 0 1 0 0 1 0 0 0 0 0 0 0

Foreign currency denominated

assets11 20,252 918 6,529 1,131 1,579 4,647 1,152 544 189 85 213 292 2,973

Other assets12 20,446 455 11,946 497 455 1,300 1,139 841 450 151 297 754 2,161

Interdistrict settlement account 0 + 27,119 - 224,543 + 37,002 + 28,091 + 10,155 + 6,492 - 3,234 - 312 + 7,413 + 9,715 + 22,792 + 79,310

Total assets 4,486,725 118,685 2,517,211 145,366 127,642 265,110 255,927 180,575 55,459 35,166 69,337 160,200 556,045

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 25, 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 1,492,639 50,312 474,064 48,701 72,098 104,798 212,153 104,083 44,346 26,575 41,743 122,060 191,706

Less: Notes held by F.R. Banks 185,791 5,539 66,079 5,915 9,816 12,339 22,434 11,867 4,559 3,057 5,270 14,265 24,652

Federal Reserve notes, net 1,306,848 44,774 407,985 42,786 62,282 92,460 189,718 92,216 39,787 23,518 36,473 107,795 167,055

Reverse repurchase agreements13 306,171 6,193 187,917 7,335 6,685 17,112 16,925 12,514 3,776 1,876 4,033 9,329 32,476

Deposits 2,809,398 64,967 1,899,628 91,816 53,986 141,820 45,150 73,993 11,226 9,099 28,103 42,028 347,580

Term deposits held by depository

institutions 404,150 280 226,123 67,740 16,850 3,575 1,258 14,495 104 70 3,391 2,356 67,908

Other deposits held by depository

institutions 2,346,998 64,682 1,615,471 24,049 37,133 138,105 43,883 59,483 11,122 9,029 24,710 39,668 279,663

U.S. Treasury, General Account 46,714 0 46,714 0 0 0 0 0 0 0 0 0 0

Foreign official 5,213 2 5,186 2 3 9 2 1 0 0 0 1 6

Other14 6,323 4 6,135 25 0 130 7 13 0 0 2 3 4

Deferred availability cash items 767 0 0 0 0 0 473 0 0 294 0 0 0

Interest on Federal Reserve notes due

to U.S. Treasury15 1,366 28 820 24 35 82 85 56 10 6 16 45 160

Other liabilities and accrued

dividends16 4,617 141 2,163 191 192 511 308 253 120 129 111 173 326

Total liabilities 4,429,168 116,103 2,498,512 142,152 123,180 251,984 252,659 179,031 54,920 34,923 68,736 159,370 547,597

Capital

Capital paid in 28,779 1,291 9,350 1,607 2,231 6,563 1,634 772 270 121 300 415 4,224

Surplus 28,779 1,291 9,350 1,607 2,231 6,563 1,634 772 270 121 300 415 4,224

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

Total liabilities and capital 4,486,725 118,685 2,517,211 145,366 127,642 265,110 255,927 180,575 55,459 35,166 69,337 160,200 556,045

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 25, 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 25, 2015

Federal Reserve notes outstanding 1,492,639

Less: Notes held by F.R. Banks not subject to collateralization 185,791

Federal Reserve notes to be collateralized 1,306,848

Collateral held against Federal Reserve notes 1,306,848

Gold certificate account 11,037

Special drawing rights certificate account 5,200

U.S. Treasury, agency debt, and mortgage-backed securities pledged1,2 1,290,612

Other assets pledged 0

Memo:

Total U.S. Treasury, agency debt, and mortgage-backed securities1,2 4,237,251

Less: Face value of securities under reverse repurchase agreements 274,226

U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 3,963,025

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.