FEDERAL RESERVE statistical release

H.4.1

Factors Affecting Reserve Balances of Depository Institutions and

Condition Statement of Federal Reserve Banks March 24, 2011

1. Factors Affecting Reserve Balances of Depository Institutions

Millions of dollars

Averages of daily figures Wednesday

Mar 23, 2011 Week ended

Mar 23, 2011

Change from week ended

Mar 16, 2011 Mar 24, 2010

Reserve Bank credit, related items, and

reserve balances of depository institutions at

Federal Reserve Banks

Reserve Bank credit 2,582,169 + 13,945 + 284,032 2,585,419

Securities held outright1 2,378,267 + 13,248 + 360,607 2,381,581

U.S. Treasury securities 1,295,350 + 20,389 + 518,697 1,305,239

Bills2 18,423 0 0 18,423

Notes and bonds, nominal2 1,213,732 + 19,642 + 504,860 1,222,689

Notes and bonds, inflation-indexed2 56,529 + 672 + 12,752 57,425

Inflation compensation3 6,667 + 75 + 1,086 6,702

Federal agency debt securities2 138,923 - 3,582 - 28,565 132,495

Mortgage-backed securities4 943,994 - 3,558 - 129,525 943,848

Repurchase agreements5 0 0 0 0

Term auction credit 0 0 - 3,410 0

Other loans 19,802 - 248 - 64,709 19,513

Primary credit 3 - 4 - 10,747 7

Secondary credit 0 0 - 600 0

Seasonal credit 6 - 3 0 6

Credit extended to American International

Group, Inc., net6 0 0 - 25,183 0

Term Asset-Backed Securities Loan Facility7 19,792 - 243 - 28,180 19,500

Other credit extensions 0 0 0 0

Net portfolio holdings of Commercial Paper

Funding Facility LLC8 0 0 - 7,767 0

Net portfolio holdings of Maiden Lane LLC9 25,562 - 285 - 1,729 25,589

Net portfolio holdings of Maiden Lane II LLC10 15,897 + 5 + 558 15,900

Net portfolio holdings of Maiden Lane III LLC11 22,914 - 29 + 778 22,919

Net portfolio holdings of TALF LLC12 709 + 6 + 309 718

Preferred interests in AIA Aurora LLC and ALICO

Holdings LLC6 0 0 - 25,106 0

Float -1,191 + 251 + 429 -1,222

Central bank liquidity swaps13 0 0 0 0

Other Federal Reserve assets14 120,209 + 996 + 24,071 120,420

Gold stock 11,041 0 0 11,041

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

Treasury currency outstanding15 43,696 + 14 + 951 43,696

Total factors supplying reserve funds 2,642,105 + 13,958 + 284,983 2,645,355

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 Wednesday

Mar 23, 2011 Week ended

Mar 23, 2011

Change from week ended

Mar 16, 2011 Mar 24, 2010

Reserve Bank credit, related items, and

reserve balances of depository institutions at

Federal Reserve Banks

Currency in circulation15 1,002,590 + 1,673 + 69,977 1,003,815

Reverse repurchase agreements16 58,223 - 931 + 1,811 61,386

Foreign official and international accounts 58,223 - 931 + 1,811 61,386

Others 0 0 0 0

Treasury cash holdings 210 + 6 - 8 213

Deposits with F.R. Banks, other than reserve balances 115,651 + 16,128 - 57,434 99,781

Term deposits held by depository institutions 0 0 0 0

U.S. Treasury, general account 87,280 + 45,192 + 19,677 71,748

U.S. Treasury, supplementary financing account 24,996 - 24,995 - 74,987 24,996

Foreign official 134 0 - 2,283 123

Service-related 2,513 + 199 - 180 2,513

Required clearing balances 2,513 + 199 - 180 2,513

Adjustments to compensate for float 0 0 0 0

Other 727 - 4,269 + 339 401

Funds from American International Group, Inc. asset

dispositions, held as agent6 0 0 0 0

Other liabilities and capital17 73,445 + 434 + 6,377 72,205

Total factors, other than reserve balances,

absorbing reserve funds 1,250,118 + 17,309 + 20,721 1,237,401

Reserve balances with Federal Reserve Banks 1,391,987 - 3,351 + 264,262 1,407,955

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. Current face value of the securities, which is the remaining principal balance of

the underlying mortgages.

5. Cash value of agreements.

6. As a result of the closing of the American International Group, Inc. (AIG) recapitalization plan on January 14, 2011, the credit extended to AIG

was fully repaid and the Federal Reserve’s commitment to lend any further funds was terminated. In addition, the Federal Reserve Bank of

New York (FRBNY) has been paid in full for its preferred interests in AIA Aurora LLC and ALICO Holdings LLC. The funds from AIG asset

dispositions that FRBNY held as agent were the source of repayment of the credit extended to AIG, as well as a portion of the

FRBNY’s preferred interests in ALICO Holdings LLC. The remaining FRBNY preferred interests in ALICO Holdings LLC and AIA Aurora

LLC, valued at approximately $20 billion, were purchased by AIG through a draw on the Treasury’s Series F preferred stock commitment

and then transferred by AIG to the Treasury as consideration for the draw on the available Series F funds.

7. Includes credit extended by the Federal Reserve Bank of New York to eligible borrowers through the Term Asset-Backed Securities Loan Facility.

8. Includes the book value of the commercial paper, net of amortized costs and related fees, and other investments held by the Commercial Paper

Funding Facility LLC.

9. Refer to table 4 and the note on consolidation accompanying table 9.

10.Refer to table 5 and the note on consolidation accompanying table 9.

11.Refer to table 6 and the note on consolidation accompanying table 9.

12.Refer to table 7 and the note on consolidation accompanying table 9.

13.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.

14.Includes other assets denominated in foreign currencies, which are revalued daily at market exchange rates, and the fair value adjustment

to credit extended by the FRBNY to eligible borrowers through the Term Asset-Backed Securities Loan Facility. Before the closing of the

AIG recapitalization plan on January 14, 2011, included accrued dividends on the FRBNY’s preferred interests in AIA Aurora LLC and ALICO

Holdings LLC.

15.Estimated.

16.Cash value of agreements, which are collateralized by U.S. Treasury securities, federal agency debt securities, and mortgage-backed securities.

17.Includes the liabilities of Maiden Lane LLC, Maiden Lane II LLC, Maiden Lane III LLC, and TALF LLC to entities other than the Federal Reserve

Bank of New York, including liabilities that have recourse only to the portfolio holdings of these LLCs. Refer to table 4 through table 7 and the note

on consolidation accompanying table 9. Also includes the liability for interest on Federal Reserve notes due to U.S. Treasury. Refer to table 8

and table 9.

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 Wednesday

Mar 23, 2011 Week ended

Mar 23, 2011

Change from week ended

Mar 16, 2011 Mar 24, 2010

Memorandum item

Marketable securities held in custody for foreign

official and international accounts1 3,401,749 + 483 + 389,237 3,409,536

U.S. Treasury securities 2,640,175 + 1,639 + 400,304 2,647,937

Federal agency securities2 761,574 - 1,156 - 11,067 761,599

Securities lent to dealers 14,775 + 469 + 10,576 15,061

Overnight facility3 14,775 + 469 + 10,576 15,061

U.S. Treasury securities 13,926 + 448 + 10,712 14,162

Federal agency debt securities 849 + 21 - 136 899

Note: Components may not sum to totals because of rounding.

1. Face value of the securities. Includes U.S. Treasury STRIPS and other zero-coupon bonds at face value and mortgage-backed securities at original

face value.

2. Includes debt and mortgage-backed securities.

3. Fully collateralized by U.S. Treasury securities.

2. Maturity Distribution of Securities, Loans, and Selected Other Assets and Liabilities, March 23, 2011

Millions of dollars

Within 15

days

16 days to

90 days

91 days to

1 year

Over 1 year

to 5 years

Over 5 years

to 10 years

Over 10

years

Remaining maturity All

Other loans1 13 0 0 19,500 0 ... 19,513

U.S. Treasury securities2

Holdings 19,574 22,524 67,800 547,165 469,854 178,323 1,305,239

Weekly changes + 2,156 - 2,153 + 1 + 12,645 + 9,457 + 2,747 + 24,853

Federal agency debt securities3

Holdings 0 14,130 19,373 69,735 26,910 2,347 132,495

Weekly changes - 7,499 + 728 - 728 0 0 0 - 7,499

Mortgage-backed securities4

Holdings 0 0 0 21 23 943,804 943,848

Weekly changes 0 0 0 0 - 1 - 255 - 255

Asset-backed securities held by

TALF LLC5 0 0 0 0 0 0 0

Repurchase agreements6 0 0 ... ... ... ... 0

Central bank liquidity swaps7 0 0 0 0 0 0 0

Reverse repurchase agreements6 61,386 0 ... ... ... ... 61,386

Term deposits 0 0 0 ... ... ... 0

Note: Components may not sum to totals because of rounding.

. . . Not applicable.

1. Excludes the loans from the Federal Reserve Bank of New York (FRBNY) to Maiden Lane LLC, Maiden Lane II LLC, Maiden

Lane III LLC, and TALF LLC. The loans were eliminated when preparing the FRBNY’s statement of condition consistent with consolidation

under generally accepted accounting principles.

2. 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.

3. Face value.

4. Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. Current face value of the securities, which is the remaining principal balance of the

underlying mortgages.

5. Face value of asset-backed securities held by TALF LLC, which is the remaining principal balance of the underlying assets.

6. Cash value of agreements.

7. 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 Purchase Program

Millions of dollars

Wednesday

Mar 23, 2011 Account name

Mortgage-backed securities held outright1 943,848

Commitments to buy mortgage-backed securities2 0

Commitments to sell mortgage-backed securities2 0

Cash and cash equivalents3 0

1. Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. Current face value of the securities, which is the remaining principal balance of the

underlying mortgages.

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 8 and table 9.

4. Information on Principal Accounts of Maiden Lane LLC

Millions of dollars

Wednesday

Mar 23, 2011 Account name

Net portfolio holdings of Maiden Lane LLC1 25,589

Outstanding principal amount of loan extended by the Federal Reserve Bank of New York2 23,470

Accrued interest payable to the Federal Reserve Bank of New York2 660

Outstanding principal amount and accrued interest on loan payable to JPMorgan Chase & Co.3 1,330

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 December 31, 2010. 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 9.

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 8 and table 9.

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. Payments by Maiden Lane LLC from

the proceeds of the net portfolio holdings will be made in the following order: operating expenses of the LLC, principal due to the FRBNY, interest

due to the FRBNY, principal due to JPMorgan Chase & Co., and interest due to JPMorgan Chase & Co. Any remaining funds will be paid to the

FRBNY.

5. Information on Principal Accounts of Maiden Lane II LLC

Millions of dollars

Wednesday

Mar 23, 2011 Account name

Net portfolio holdings of Maiden Lane II LLC1 15,900

Outstanding principal amount of loan extended by the Federal Reserve Bank of New York2 12,353

Accrued interest payable to the Federal Reserve Bank of New York2 488

Deferred payment and accrued interest payable to subsidiaries of American International Group, Inc.3 1,079

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 December 31, 2010. 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 9.

3. Book value. The deferred payment represents the portion of the proceeds of the net portfolio holdings due to subsidiaries of American

International Group, Inc. in accordance with the asset purchase agreement. The fair value of this payment and accrued interest payable are

included in other liabilities and capital in table 1 and in other liabilities and accrued dividends in table 8 and table 9.

Note: On December 12, 2008, the Federal Reserve Bank of New York (FRBNY) began extending credit to Maiden Lane II LLC under the authority

of section 13(3) of the Federal Reserve Act. This limited liability company was formed to purchase residential mortgage-backed securities from the

U.S. securities lending reinvestment portfolio of subsidiaries of American International Group, Inc. (AIG subsidiaries). Payments by Maiden Lane II

LLC from the proceeds of the net portfolio holdings will be made in the following order: operating expenses of Maiden Lane II LLC, principal due to

the FRBNY, interest due to the FRBNY, and deferred payment and interest due to AIG subsidiaries. Any remaining funds will be shared by the

FRBNY and AIG subsidiaries.
H.4.1

6. Information on Principal Accounts of Maiden Lane III LLC

Millions of dollars

Wednesday

Mar 23, 2011 Account name

Net portfolio holdings of Maiden Lane III LLC1 22,919

Outstanding principal amount of loan extended by the Federal Reserve Bank of New York2 12,346

Accrued interest payable to the Federal Reserve Bank of New York2 583

Outstanding principal amount and accrued interest on loan payable to American International Group, Inc.3 5,405

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 December 31, 2010. 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 9.

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 8 and table 9.

Note: On November 25, 2008, the Federal Reserve Bank of New York (FRBNY) began extending credit to Maiden Lane III LLC under the authority

of section 13(3) of the Federal Reserve Act. This limited liability company was formed to purchase multi-sector collateralized debt obligations

(CDOs) on which the Financial Products group of American International Group, Inc. (AIG) has written credit default swap (CDS) contracts. In

connection with the purchase of CDOs, the CDS counterparties will concurrently unwind the related CDS transactions. Payments by Maiden Lane

III LLC from the proceeds of the net portfolio holdings will be made in the following order: operating expenses of Maiden Lane III LLC, principal due

to the FRBNY, interest due to the FRBNY, principal due to AIG, and interest due to AIG. Any remaining funds will be shared by the FRBNY and

AIG.

7. Information on Principal Accounts of TALF LLC

Millions of dollars

Wednesday

Mar 23, 2011 Account name

Asset-backed securities holdings1 0

Other investments, net 718

Net portfolio holdings of TALF LLC 718

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

Funding provided by U.S. Treasury to TALF LLC, including accrued interest payable3 107

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.

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 9.

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 8

and table 9.

Note: On November 25, 2008, the Federal Reserve announced the creation of the Term Asset-Backed Securities Loan Facility (TALF) under the authority

of section 13(3) of the Federal Reserve Act. The TALF is a facility under which the Federal Reserve Bank of New York (FRBNY) extends loans with a term

of up to five years to holders of eligible asset-backed securities. The TALF is intended to assist financial markets in accommodating the credit needs of

consumers and businesses by facilitating the issuance of asset-backed securities collateralized by a variety of consumer and business loans. The loans

provided through the TALF to eligible borrowers are non-recourse, meaning that the obligation of the borrower can be discharged by surrendering the

collateral to the FRBNY. The loans are extended for the market value of the security less an amount known as a haircut. As a result, the borrower bears

the initial risk of a decline in the value of the security.

TALF LLC is a limited liability company 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 TALF loan. TALF LLC has committed, for a fee, to purchase all asset-backed securities received by the FRBNY in

conjunction with a TALF loan at a price equal to the TALF loan plus accrued but unpaid interest. Losses on asset-backed securities held by TALF LLC will

be offset in the following order: by the commitment fees collected by TALF LLC, by the interest received on investments of TALF LLC, by up to $4.3 billion

in subordinated debt funding provided by the U.S. Treasury, and finally, by senior debt funding provided by the FRBNY. Payments by TALF LLC from the

proceeds of its net portfolio holdings will be made in the following order: operating expenses of TALF LLC, principal due to the FRBNY, principal due to the

U.S. Treasury, interest due to the FRBNY, and interest due to the U.S. Treasury. Any remaining funds will be shared by the FRBNY and the U.S. Treasury.
H.4.1

8. Consolidated Statement of Condition of All Federal Reserve Banks

Millions of dollars

Eliminations from

consolidation

Wednesday

Mar 23, 2011

Change since

Wednesday

Mar 16, 2011

Wednesday

Mar 24, 2010

Assets, liabilities, and capital

Assets

Gold certificate account 11,037 0 0

Special drawing rights certificate account 5,200 0 0

Coin 2,193 - 14 + 95

Securities, repurchase agreements, term auction

credit, and other loans 2,401,094 + 16,662 + 297,480

Securities held outright1 2,381,581 + 17,098 + 363,626

U.S. Treasury securities 1,305,239 + 24,853 + 528,572

Bills2 18,423 0 0

Notes and bonds, nominal2 1,222,689 + 23,199 + 513,817

Notes and bonds, inflation-indexed2 57,425 + 1,568 + 13,648

Inflation compensation3 6,702 + 86 + 1,107

Federal agency debt securities2 132,495 - 7,499 - 34,993

Mortgage-backed securities4 943,848 - 255 - 129,952

Repurchase agreements5 0 0 0

Term auction credit 0 0 - 3,410

Other loans 19,513 - 436 - 62,736

Net portfolio holdings of Commercial Paper

Funding Facility LLC6 0 0 - 7,776

Net portfolio holdings of Maiden Lane LLC7 25,589 + 32 - 1,728

Net portfolio holdings of Maiden Lane II LLC8 15,900 + 4 + 557

Net portfolio holdings of Maiden Lane III LLC9 22,919 + 6 + 777

Net portfolio holdings of TALF LLC10 718 + 15 + 314

Preferred interests in AIA Aurora LLC and ALICO

Holdings LLC11 0 0 - 25,106

Items in process of collection (104) 335 + 146 + 150

Bank premises 2,219 + 2 - 20

Central bank liquidity swaps12 0 0 0

Other assets13 118,202 + 1,437 + 24,138

Total assets (104) 2,605,406 + 18,291 + 288,881

Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table.
H.4.1

8. Consolidated Statement of Condition of All Federal Reserve Banks (continued)

Millions of dollars

Eliminations from

consolidation

Wednesday

Mar 23, 2011

Change since

Wednesday

Mar 16, 2011

Wednesday

Mar 24, 2010

Assets, liabilities, and capital

Liabilities

Federal Reserve notes, net of F.R. Bank holdings 962,521 + 654 + 69,486

Reverse repurchase agreements14 61,386 - 901 + 6,667

Deposits (0) 1,507,737 + 19,073 + 206,853

Term deposits held by depository institutions 0 0 0

Other deposits held by depository institutions 1,410,468 + 73,847 + 262,721

U.S. Treasury, general account 71,748 - 29,723 + 21,644

U.S. Treasury, supplementary financing account 24,996 - 24,995 - 74,987

Foreign official 123 0 - 2,297

Other (0) 401 - 57 - 228

Deferred availability cash items (104) 1,557 - 160 - 588

Other liabilities and accrued dividends15 19,632 - 381 + 6,928

Total liabilities (104) 2,552,833 + 18,284 + 289,346

Capital accounts

Capital paid in 26,287 + 4 + 40

Surplus 26,287 + 4 + 966

Other capital accounts 0 0 - 1,469

Total capital 52,573 + 7 - 464

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. Current face value of the securities, which is the remaining principal balance of the

underlying mortgages.

5. Cash value of agreements, which are collateralized by U.S. Treasury and federal agency securities.

6. Includes the book value of the commercial paper, net of amortized costs and related fees, and other investments held by the Commercial Paper

Funding Facility LLC.

7. Refer to table 4 and the note on consolidation accompanying table 9.

8. Refer to table 5 and the note on consolidation accompanying table 9.

9. Refer to table 6 and the note on consolidation accompanying table 9.

10.Refer to table 7 and the note on consolidation accompanying table 9.

11.As a result of the closing of the AIG recapitalization plan on January 14, 2011, the Federal Reserve Bank of New York has been paid in full

for its	preferred interests in AIA Aurora LLC and ALICO Holdings LLC. A portion of the preferred interests was redeemed by AIG with the funds

from AIG asset dispositions that were held as agent by the Federal Reserve.

12.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.

13.Includes other assets denominated in foreign currencies, which are revalued daily at market exchange rates and the fair value adjustment to

credit extended by the Federal Reserve Bank of New York (FRBNY) to eligible borrowers through the Term Asset-Backed Securities Loan Facility.

Before the closing of the AIG recapitalization plan on January 14, 2011, included accrued dividends on the FRBNY’s preferred interests in AIA

Aurora LLC and ALICO Holdings LLC.

14.Cash value of agreements, which are collateralized by U.S. Treasury securities, federal agency debt securities, and mortgage-backed securities.

15.Includes the liabilities of Maiden Lane LLC, Maiden Lane II LLC, Maiden Lane III LLC, and TALF LLC to entities other than the Federal

Reserve Bank of New York, including liabilities that have recourse only to the portfolio holdings of these LLCs. Refer to table 4 through table 7 and

the note on consolidation accompanying table 9. Also includes the liability for interest on Federal Reserve notes due to U.S. Treasury. Before the

closing of the AIG recapitalization plan on January 14, 2011, included funds from American International Group, Inc. asset dispositions, held as agent.
H.4.1

9. Statement of Condition of Each Federal Reserve Bank, March 23, 2011Millions of dollars

Total Boston New York Philadelphia Cleveland Richmond Atlanta Chicago St. Louis Minn

Assets, liabilities, and capital

Assets

Gold certificate account 11,037 369 4,038 404 463 846 1,385 887 324 Special drawing rights certificate acct. 5,200 196 1,818 210 237 412 654 424 150 Coin 2,193 52 81 172 162 369 173 341 32 Securities, repurchase agreements,

term auction credit, and otherloans 2,401,094 60,270 991,316 55,617 80,916 271,236 225,363 179,540 61,347 

Securities held outright1 2,381,581 60,270 971,811 55,617 80,916 271,236 225,363 179,539 61,345 

U.S. Treasury securities 1,305,239 33,031 532,606 30,481 44,346 148,653 123,512 98,397 33,621 

Bills2 18,423 466 7,517 430 626 2,098 1,743 1,389 475 Notes and bonds3 1,286,816 32,565 525,089 30,051 43,720 146,554 121,768 97,008 33,146 

Federal agency debt securities2 132,495 3,353 54,065 3,094 4,502 15,090 12,538 9,988 3,413 

Mortgage-backed securities4 943,848 23,886 385,140 22,042 32,068 107,494 89,314 71,153 24,312 

Repurchase agreements5 0 0 0 0 0 0 0 0 0 Term auction credit 0 0 0 0 0 0 0 0 0 Other loans 19,513 0 19,505 0 0 0 0 1 1 

Net portfolio holdings of Commercial

Paper Funding Facility LLC6 0 0 0 0 0 0 0 0 0 

Net portfolio holdings of Maiden

Lane LLC7 25,589 0 25,589 0 0 0 0 0 0 

Net portfolio holdings of Maiden

Lane II LLC8 15,900 0 15,900 0 0 0 0 0 0 

Net portfolio holdings of Maiden

Lane III LLC9 22,919 0 22,919 0 0 0 0 0 0 

Net portfolio holdings of TALF LLC10 718 0 718 0 0 0 0 0 0 

Preferred interests in AIA Aurora LLC

and ALICO Holdings LLC11 0 0 0 0 0 0 0 0 0 

Items in process of collection 438 3 0 37 67 6 168 21 11 Bank premises 2,219 125 257 68 139 239 217 208 136 Central bank liquidity swaps12 0 0 0 0 0 0 0 0 0 Other assets13 118,202 3,262 44,963 4,765 5,083 15,940 10,191 7,554 2,593 Interdistrict settlement account 0 - 10,266 + 238,673 + 48,055 - 18,132 - 41,910 - 65,366 - 41,528 - 23,364 - 

Total assets 2,605,509 54,011 1,346,272 109,328 68,935 247,138 172,785 147,447 41,229 

Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table.
H.4.1

9. Statement of Condition of Each Federal Reserve Bank, March 23, 2011 (continued)Millions of dollars

Total Boston New York Philadelphia Cleveland Richmond Atlanta Chicago St. Louis Minn

Assets, liabilities, and capital

Liabilities

Federal Reserve notes outstanding 1,117,205 42,981 380,280 46,096 46,427 89,947 140,221 85,665 31,954 

Less: Notes held by F.R. Banks 154,684 4,771 43,577 5,196 7,531 11,926 21,983 12,306 4,027 

Federal Reserve notes, net 962,521 38,210 336,704 40,900 38,896 78,021 118,239 73,359 27,927 

Reverse repurchase agreements14 61,386 1,553 25,049 1,434 2,086 6,991 5,809 4,628 1,581 

Deposits 1,507,737 12,101 954,666 61,875 23,410 150,179 44,889 67,399 10,983 

Term deposits held by depository

institutions 0 0 0 0 0 0 0 0 0 

Other deposits held by depository

institutions 1,410,468 12,094 857,583 61,871 23,407 150,101 44,887 67,364 10,951 

U.S. Treasury, general account 71,748 0 71,748 0 0 0 0 0 0 U.S. Treasury, supplementary

financing account 24,996 0 24,996 0 0 0 0 0 0 

Foreign official 123 1 95 4 3 8 2 1 0 Other 401 5 245 0 1 70 0 34 32 

Deferred availability cash items 1,660 60 0 215 239 69 100 105 52 Interest on Federal Reserve notes due

to U.S. Treasury15 1,572 41 637 36 58 185 143 116 40 

Other liabilities and accrued

dividends16 18,060 212 13,817 249 311 817 597 505 210 

Total liabilities 2,552,936 52,177 1,330,873 104,710 64,999 236,262 169,776 146,111 40,793 Capital

Capital paid in 26,287 917 7,699 2,309 1,968 5,438 1,505 668 218 Surplus 26,287 917 7,699 2,309 1,968 5,438 1,505 668 218 Other capital 0 0 0 0 0 0 0 0 0 

Total liabilities and capital 2,605,509 54,011 1,346,272 109,328 68,935 247,138 172,785 147,447 41,229 

Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table.
H.4.1

9. Statement of Condition of Each Federal Reserve Bank, March 23, 2011 (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 securitie4. Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. Current face value of the securities, which is the remaining principal balance of the underlying mort5. Cash value of agreements, which are collateralized by U.S. Treasury and federal agency securities.6. Includes the book value of the commercial paper, net of amortized costs and related fees, and other investments held by the Commercial Paper Funding Facilit7. Refer to table 4 and the note on consolidation below.8. Refer to table 5 and the note on consolidation below.9. Refer to table 6 and the note on consolidation below.10.Refer to table 7 and the note on consolidation below.11.As a result of the closing of the AIG recapitalization plan on January 14, 2011, the Federal Reserve Bank of New York has been paid in full for its preferred inte

Holdings LLC. A portion of the preferred interests was redeemed by AIG with the funds from AIG asset dispositions that were held as agent by the Federal Res

12.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 centr

equals the market exchange rate used when the foreign currency was acquired from the foreign central bank.

13.Includes other assets denominated in foreign currencies, which are revalued daily at market exchange rates and the fair value adjustment to credit extended by 

of New York (FRBNY) to eligible	borrowers through the Term Asset-Backed Securities Loan Facility. Before the closing of the AIG recapitalization plan on Janudividends on the FRBNY’s preferred interests in AIA Aurora LLC and ALICO Holdings LLC.

14.Cash value of agreements, which are collateralized by U.S. Treasury securities, federal agency debt securities, and mortgage-backed securities.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 

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 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 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 and the amount necessary to equate surplus with capital paid-in.

16.Includes the liabilities of Maiden Lane LLC, Maiden Lane II LLC, Maiden Lane III LLC, and TALF LLC to entities other than the Federal Reserve Bank of New Y

recourse only to the portfolio holdings of these LLCs. Refer to table 4 through table 7 and the note on consolidation below. Before the closing of the AIG recapitincluded funds from American International Group, Inc. asset dispositions, held as agent.

Note on consolidation:The Federal Reserve Bank of New York (FRBNY) has extended loans to several limited liability companies under the authority of section 13(3) of the Federal Resewas extended to Maiden Lane LLC, which was formed to acquire certain assets of Bear Stearns. On November 25, 2008, a loan was extended to Maiden Lane III multi-sector collateralized debt obligations on which the Financial Products group of the American International Group, Inc. has written credit default swap contractwas extended to Maiden Lane II LLC, which was formed to purchase residential mortgage-backed securities from the U.S. securities lending reinvestment portfolio International Group, Inc. On November 25, 2008, the Federal Reserve Board authorized the FRBNY to extend credit to TALF LLC, which was formed to purchase 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 FacilitThe FRBNY is the primary beneficiary of TALF LLC, because of the two beneficiaries of the LLC, the FRBNY and the U.S. Treasury, the FRBNY is primarily respoTALF LLC. The FRBNY is the primary beneficiary of the other LLCs cited above because it will receive a majority of any residual returns of the LLCs and absorb a Consistent with generally accepted accounting principles, the assets and liabilities of these LLCs have been consolidated with the assets and liabilities of the FRBNcondition shown on this release. As a consequence of the consolidation, the extensions of credit from the FRBNY to the LLCs are eliminated, the net assets of the (and in table 1 and table 8), and the liabilities of the LLCs to entities other than the FRBNY, including those with recourse only to the portfolio holdings of the LLCsin this table (and table 1 and table 8).
H.4.1

10. Collateral Held against Federal Reserve Notes: Federal Reserve Agents’ Accounts

Millions of dollars

Wednesday

Mar 23, 2011 Federal Reserve notes and collateral

Federal Reserve notes outstanding 1,117,205

Less: Notes held by F.R. Banks not subject to collateralization 154,684

Federal Reserve notes to be collateralized 962,521

Collateral held against Federal Reserve notes 962,521

Gold certificate account 11,037

Special drawing rights certificate account 5,200

U.S. Treasury, agency debt, and mortgage-backed securities pledged1,2 946,284

Other assets pledged 0

Memo:

Total U.S. Treasury, agency debt, and mortgage-backed securities1,2 2,381,581

Less: Face value of securities under reverse repurchase agreements 59,288

U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 2,322,293

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.