FEDERAL RESERVE statistical release
H.4.1
Factors Affecting Reserve Balances of Depository Institutions and
Condition Statement of Federal Reserve Banks
                                                                                            December 22, 2011
 
1. Factors Affecting Reserve Balances of Depository Institutions
Millions of dollars
Reserve Bank credit, related items, and                         Averages of daily figures         Wednesday  
reserve balances of depository institutions at             Week ended   Change from week ended   Dec 21, 2011
Federal Reserve Banks                                     Dec 21, 2011 Dec 14, 2011 Dec 22, 2010
 
Reserve Bank credit                                        2,884,945   +   17,829   +  496,236    2,898,852
  Securities held outright (1)                             2,628,660   +   11,065   +  485,940    2,640,671
    U.S. Treasury securities                               1,673,837   +    2,306   +  687,292    1,684,249
      Bills (2)                                               18,423            0            0       18,423
      Notes and bonds, nominal (2)                         1,577,280   +    1,248   +  661,965    1,587,705
      Notes and bonds, inflation-indexed (2)                  68,468   +      984   +   21,731       68,468
      Inflation compensation (3)                               9,667   +       74   +    3,597        9,653
    Federal agency debt securities (2)                       104,696   -    1,213   -   42,825      104,696
    Mortgage-backed securities (4)                           850,127   +    9,973   -  158,527      851,726
  Repurchase agreements (5)                                        0            0            0            0
  Loans                                                        9,548   -      433   -   36,023        9,514
    Primary credit                                                13   -      380   -       15           57
    Secondary credit                                               0            0            0            0
    Seasonal credit                                               26   +        2   -        2           26
    Credit extended to American International
       Group, Inc., net (6)                                        0            0   -   20,625            0
    Term Asset-Backed Securities Loan Facility (7)             9,509   -       54   -   15,381        9,431
    Other credit extensions                                        0            0            0            0
  Net portfolio holdings of Maiden Lane LLC (8)                7,214   -    2,922   -   19,702        7,235
  Net portfolio holdings of Maiden Lane II LLC (9)             9,239   +        3   -    6,906        9,243
  Net portfolio holdings of Maiden Lane III LLC (10)          17,721   -      179   -    5,401       17,733
  Net portfolio holdings of TALF LLC (11)                        804   +        1   +      151          811
  Preferred interests in AIA Aurora LLC and ALICO
     Holdings LLC (6)                                              0            0   -   26,057            0
  Float                                                         -869   +       48   +      724       -1,061
  Central bank liquidity swaps (12)                           62,599   +    8,264   +   62,524       62,599
  Other Federal Reserve assets (13)                          150,028   +    1,981   +   40,984      152,107
Gold stock                                                    11,041            0            0       11,041
Special drawing rights certificate account                     5,200            0            0        5,200
Treasury currency outstanding (14)                            44,236   +       14   +      701       44,236

Total factors supplying reserve funds                      2,945,422   +   17,843   +  496,936    2,959,329
 
Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table.

 
1. Factors Affecting Reserve Balances of Depository Institutions (continued)
Millions of dollars
Reserve Bank credit, related items, and                         Averages of daily figures         Wednesday  
reserve balances of depository institutions at             Week ended   Change from week ended   Dec 21, 2011
Federal Reserve Banks                                     Dec 21, 2011 Dec 14, 2011 Dec 22, 2010
 
Currency in circulation (14)                               1,066,495   +    2,125   +   86,025    1,070,339
Reverse repurchase agreements (15)                            87,227   +    2,472   +   35,971       90,070
  Foreign official and international accounts                 87,227   +    2,472   +   35,971       90,070
  Others                                                           0            0            0            0
Treasury cash holdings                                           116   +        2   -       62          120
Deposits with F.R. Banks, other than reserve balances        209,113   +  105,525   -   94,399      222,524
  Term deposits held by depository institutions                    0   -    5,055   -    5,113            0
  U.S. Treasury, General Account                             112,404   +   90,920   +   20,925      106,592
  U.S. Treasury, Supplementary Financing Account                   0            0   -  199,961            0
  Foreign official                                               190   -       19   -    4,019          426
  Service-related                                              2,489   -        9   +      134        2,489
    Required clearing balances                                 2,489   -        9   +      134        2,489
    Adjustments to compensate for float                            0            0            0            0
  Other                                                       94,030   +   19,688   +   93,635      113,016
Funds from American International Group, Inc. asset
   dispositions, held as agent (6)                                 0            0   -   26,838            0
Other liabilities and capital (16)                            72,502   -      672   -      670       72,074

Total factors, other than reserve balances,
   absorbing reserve funds                                 1,435,453   +  109,452   +       26    1,455,127

Reserve balances with Federal Reserve Banks                1,509,968   -   91,610   +  496,910    1,504,201
 
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. Refer to table 4 and the note on consolidation accompanying table 9.
9.  Refer to table 5 and the note on consolidation accompanying table 9.
10. Refer to table 6 and the note on consolidation accompanying table 9.
11. Refer to table 7 and the note on consolidation accompanying table 9.
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 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. Estimated.
15. Cash value of agreements, which are collateralized by U.S. Treasury securities, federal agency debt
    securities, and mortgage-backed securities.
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 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.

 
1A. Memorandum Items
Millions of dollars
                                                                Averages of daily figures         Wednesday  
                                                           Week ended   Change from week ended   Dec 21, 2011
Memorandum item                                           Dec 21, 2011 Dec 14, 2011 Dec 22, 2010
 
Marketable securities held in custody for foreign
   official and international accounts (1)                 3,440,474   -    2,195   +   89,408    3,433,849
  U.S. Treasury securities                                 2,712,768   -   10,421   +   92,403    2,702,218
  Federal agency securities (2)                              727,706   +    8,225   -    2,995      731,631
Securities lent to dealers                                    14,801   +    2,970   +    4,840       16,504
  Overnight facility (3)                                      14,801   +    2,970   +    4,840       16,504
    U.S. Treasury securities                                  13,658   +    2,992   +    4,902       15,287
    Federal agency debt securities                             1,143   -       21   -       62        1,217
 
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,  December 21, 2011
Millions of dollars
                                       Within 15    16 days to   91 days to  Over 1 year  Over 5 years    Over 10        All     
Remaining maturity                        days       90 days       1 year     to 5 years   to 10 years     years    
 
Loans (1)                                     84            0        4,294        5,136            0           ...        9,514
U.S. Treasury securities (2)
  Holdings                                15,691       27,662       87,287      667,121      655,879       230,610    1,684,249
  Weekly changes                      -    2,729   +    4,896   -    7,106   -    4,943   +   15,175    +    5,482   +   10,774
Federal agency debt securities (3)
  Holdings                                   702        5,002       19,709       63,103       13,833         2,347      104,696
  Weekly changes                      -    1,213   +      811   -      811   +    2,313   -    2,313             0   -    1,213
Mortgage-backed securities (4)
  Holdings                                     0            0            0           14           34       851,677      851,726
  Weekly changes                               0            0            0   +        3   +       11    -    6,366   -    6,352
Asset-backed securities held by
   TALF LLC (5)                                0            0            0            0            0             0            0
Repurchase agreements (6)                      0            0          ...          ...          ...           ...            0
Central bank liquidity swaps (7)           6,488       56,111            0            0            0             0       62,599

Reverse repurchase agreements (6)         90,070            0          ...          ...          ...           ...       90,070
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.

 
3. Supplemental Information on Mortgage-Backed Securities
Millions of dollars
                                                                                                                        Wednesday   
Account name                                                                                                           Dec 21, 2011 
 
Mortgage-backed securities held outright (1)                                                                             851,726

Commitments to buy mortgage-backed securities (2)                                                                         36,640
Commitments to sell mortgage-backed securities (2)                                                                         4,350

Cash and cash equivalents (3)                                                                                                197
 
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   
Account name                                                                                                           Dec 21, 2011 
 
Net portfolio holdings of Maiden Lane LLC (1)                                                                              7,235

Outstanding principal amount of loan extended by the Federal Reserve Bank of New York (2)                                  4,104
Accrued interest payable to the Federal Reserve Bank of New York (2)                                                         754
Outstanding principal amount and accrued interest on loan payable to JPMorgan Chase & Co. (3)                              1,383
 
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, 2011. 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   
Account name                                                                                                           Dec 21, 2011 
 
Net portfolio holdings of Maiden Lane II LLC (1)                                                                           9,243

Outstanding principal amount of loan extended by the Federal Reserve Bank of New York (2)                                  6,223
Accrued interest payable to the Federal Reserve Bank of New York (2)                                                         567
Deferred payment and accrued interest payable to subsidiaries of American International Group, Inc. (3)                    1,105
 
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, 2011. 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.

 
6. Information on Principal Accounts of Maiden Lane III LLC
Millions of dollars
                                                                                                                        Wednesday   
Account name                                                                                                           Dec 21, 2011 
 
Net portfolio holdings of Maiden Lane III LLC (1)                                                                         17,733

Outstanding principal amount of loan extended by the Federal Reserve Bank of New York (2)                                  9,134
Accrued interest payable to the Federal Reserve Bank of New York (2)                                                         688
Outstanding principal amount and accrued interest on loan payable to American International Group, Inc. (3)                5,537
 
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, 2011. 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   
Account name                                                                                                           Dec 21, 2011 
 
Asset-backed securities holdings (1)                                                                                           0
Other investments, net                                                                                                       811
Net portfolio holdings of TALF LLC                                                                                           811

Outstanding principal amount of loan extended by the Federal Reserve Bank of New York (2)                                      0
Accrued interest payable to the Federal Reserve Bank of New York (2)                                                           0
Funding provided by U.S. Treasury to TALF LLC, including accrued interest payable (3)                                        109
 
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.

 
8. Consolidated Statement of Condition of All Federal Reserve Banks
Millions of dollars
                                                       Eliminations from  Wednesday         Change since       
                                                        consolidation   Dec 21, 2011   Wednesday    Wednesday  
Assets, liabilities, and capital                                                      Dec 14, 2011 Dec 22, 2010
 
Assets
  Gold certificate account                                                  11,037             0            0
  Special drawing rights certificate account                                 5,200             0            0
  Coin                                                                       2,297    +       17   +      149
  Securities, repurchase agreements, and loans                           2,650,185    +    3,135   +  441,987
    Securities held outright (1)                                         2,640,671    +    3,209   +  477,574
      U.S. Treasury securities                                           1,684,249    +   10,774   +  677,012
        Bills (2)                                                           18,423             0            0
        Notes and bonds, nominal (2)                                     1,587,705    +   10,811   +  653,178
        Notes and bonds, inflation-indexed (2)                              68,468             0   +   20,343
        Inflation compensation (3)                                           9,653    -       37   +    3,491
      Federal agency debt securities (2)                                   104,696    -    1,213   -   42,764
      Mortgage-backed securities (4)                                       851,726    -    6,352   -  156,674
    Repurchase agreements (5)                                                    0             0            0
    Loans                                                                    9,514    -       74   -   35,587
  Net portfolio holdings of Maiden Lane LLC (6)                              7,235    +       24   -   19,694
  Net portfolio holdings of Maiden Lane II LLC (7)                           9,243    +        4   -    6,908
  Net portfolio holdings of Maiden Lane III LLC (8)                         17,733    +       14   -    5,396
  Net portfolio holdings of TALF LLC (9)                                       811    +        8   +      146
  Preferred interests in AIA Aurora LLC and ALICO
     Holdings LLC (10)                                                           0             0   -   26,057
  Items in process of collection                            (103)              191    -      128   -      306
  Bank premises                                                              2,187    +        3   -       39
  Central bank liquidity swaps (11)                                         62,599    +    8,264   +   62,524
  Other assets (12)                                                        149,787    +    2,203   +   41,327

Total assets                                                (103)        2,918,506    +   13,547   +  487,734
 
Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table.

 
8. Consolidated Statement of Condition of All Federal Reserve Banks (continued)
Millions of dollars
                                                       Eliminations from  Wednesday         Change since       
                                                        consolidation   Dec 21, 2011   Wednesday    Wednesday  
Assets, liabilities, and capital                                                      Dec 14, 2011 Dec 22, 2010
 
Liabilities
  Federal Reserve notes, net of F.R. Bank holdings                       1,028,516    +    3,887   +   86,094
  Reverse repurchase agreements (13)                                        90,070    +    7,598   +   38,936
  Deposits                                                    (0)        1,726,593    +    1,752   +  391,080
    Term deposits held by depository institutions                                0    -    5,055   -    5,113
    Other deposits held by depository institutions                       1,506,559    -  108,609   +  471,035
    U.S. Treasury, General Account                                         106,592    +   80,941   +   16,679
    U.S. Treasury, Supplementary Financing Account                               0             0   -  199,961
    Foreign official                                                           426    -      274   -    4,155
    Other                                                     (0)          113,016    +   34,749   +  112,595
  Deferred availability cash items                          (103)            1,252    -       82   -      965
  Other liabilities and accrued dividends (14)                              18,191    +      386   -   24,888

Total liabilities                                           (103)        2,864,623    +   13,542   +  490,258

Capital accounts
  Capital paid in                                                           26,941    +        2   +      467
  Surplus                                                                   26,941    +        2   +      996
  Other capital accounts                                                         0             0   -    3,988

Total capital                                                               53,883    +        4   -    2,524
 
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. Refer to table 4 and the note on consolidation accompanying table 9.
7. Refer to table 5 and the note on consolidation accompanying table 9.
8. Refer to table 6 and the note on consolidation accompanying table 9.
9.  Refer to table 7 and the note on consolidation accompanying table 9.
10. 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.
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 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.
13. Cash value of agreements, which are collateralized by U.S. Treasury securities, federal agency debt
    securities, and mortgage-backed securities.
14. 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.


 
9. Statement of Condition of Each Federal Reserve Bank,  December 21, 2011
Millions of dollars
                                               Total      Boston     New York   Philadelphia Cleveland   Richmond     Atlanta     Chicago    St. Louis  Minneapolis   Kansas      Dallas        San    
Assets, liabilities, and capital                                                                                                                                       City                  Francisco 
 
Assets
  Gold certificate account                      11,037         390       3,866         432         450         872       1,394         854         319         197         318         728       1,217
  Special drawing rights certificate acct.       5,200         196       1,818         210         237         412         654         424         150          90         153         282         574
  Coin                                           2,297          52          80         161         171         408         204         332          35          59         175         238         381
  Securities, repurchase agreements,
     and loans                               2,650,185      64,927   1,237,456      90,464      71,330     304,971     196,316     156,823      49,982      40,588      70,255     104,439     262,634
    Securities held outright (1)             2,640,671      64,925   1,228,025      90,459      71,330     304,971     196,314     156,817      49,980      40,583      70,243     104,439     262,584
      U.S. Treasury securities               1,684,249      41,410     783,248      57,696      45,495     194,514     125,211     100,020      31,878      25,884      44,802      66,612     167,479
        Bills (2)                               18,423         453       8,567         631         498       2,128       1,370       1,094         349         283         490         729       1,832
        Notes and bonds (3)                  1,665,827      40,957     774,681      57,065      44,997     192,386     123,842      98,926      31,529      25,601      44,312      65,884     165,647
      Federal agency debt securities (2)       104,696       2,574      48,688       3,586       2,828      12,091       7,783       6,217       1,982       1,609       2,785       4,141      10,411
      Mortgage-backed securities (4)           851,726      20,941     396,089      29,177      23,007      98,366      63,319      50,580      16,121      13,090      22,656      33,686      84,694
    Repurchase agreements (5)                        0           0           0           0           0           0           0           0           0           0           0           0           0
    Loans                                        9,514           2       9,431           5           0           0           2           6           2           5          12           0          50
  Net portfolio holdings of Maiden
     Lane LLC (6)                                7,235           0       7,235           0           0           0           0           0           0           0           0           0           0
  Net portfolio holdings of Maiden
     Lane II LLC (7)                             9,243           0       9,243           0           0           0           0           0           0           0           0           0           0
  Net portfolio holdings of Maiden
     Lane III LLC (8)                           17,733           0      17,733           0           0           0           0           0           0           0           0           0           0
  Net portfolio holdings of TALF LLC (9)           811           0         811           0           0           0           0           0           0           0           0           0           0
  Preferred interests in AIA Aurora LLC
     and ALICO Holdings LLC (10)                     0           0           0           0           0           0           0           0           0           0           0           0           0
  Items in process of collection                   294          14           0          87          85           5         -97          21           5          11           6          14         141
  Bank premises                                  2,187         122         263          67         126         232         214         206         134         105         259         246         213
  Central bank liquidity swaps (11)             62,599       2,163      18,131       6,064       4,644      12,836       3,587       1,586         510       1,934         564         948       9,633
  Other assets (12)                            149,787       3,969      64,866       6,797       5,278      19,684      10,708       8,001       2,577       2,740       3,537       5,341      16,288
  Interdistrict settlement account                   0   -   1,229   + 337,320   -  25,579   -   8,275   - 128,296   -  47,409   -  20,898   -   9,822   -  19,054   -  19,792   -     648   -  56,318

Total assets                                 2,918,609      70,604   1,698,822      78,702      74,046     211,124     165,572     147,350      43,890      26,671      55,475     111,588     234,764
 
Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table.

 
9. Statement of Condition of Each Federal Reserve Bank,  December 21, 2011 (continued)
Millions of dollars
                                               Total      Boston     New York   Philadelphia Cleveland   Richmond     Atlanta     Chicago    St. Louis  Minneapolis   Kansas      Dallas        San    
Assets, liabilities, and capital                                                                                                                                       City                  Francisco 
 
Liabilities
  Federal Reserve notes outstanding          1,205,814      44,372     425,654      46,220      54,341      94,761     145,345      89,366      33,997      21,045      34,663      80,375     135,675
    Less: Notes held by F.R. Banks             177,298       4,596      50,711       6,673       9,684      11,486      28,895      12,824       4,232       5,315       3,672      12,274      26,936
      Federal Reserve notes, net             1,028,516      39,776     374,944      39,547      44,658      83,274     116,450      76,542      29,765      15,730      30,991      68,101     108,739
  Reverse repurchase agreements (13)            90,070       2,215      41,887       3,085       2,433      10,402       6,696       5,349       1,705       1,384       2,396       3,562       8,956
  Deposits                                   1,726,593      26,421   1,250,982      30,911      22,465     105,307      38,705      63,407      11,751       8,835      21,297      38,681     107,832
    Term deposits held by depository
       institutions                                  0           0           0           0           0           0           0           0           0           0           0           0           0
    Other deposits held by depository
       institutions                          1,506,559      26,377   1,031,154      30,902      22,461     105,210      38,703      63,372      11,750       8,832      21,293      38,679     107,825
    U.S. Treasury, General Account             106,592           0     106,592           0           0           0           0           0           0           0           0           0           0
    U.S. Treasury, Supplementary
       Financing Account                             0           0           0           0           0           0           0           0           0           0           0           0           0
    Foreign official                               426           1         398           4           3           8           2           1           0           1           0           1           6
    Other                                      113,016          42     112,838           5           1          88           0          34           0           2           4           1           1
  Deferred availability cash items               1,355          69           0         157         176          34          79          68          41         338          54          62         278
  Interest on Federal Reserve notes due
     to U.S. Treasury (14)                       1,632          39         769          54          45         214         120          85          22          23          36          51         174
  Other liabilities and accrued
     dividends (15)                             16,559         199      12,892         282         293         764         445         374         168         140         167         269         566

Total liabilities                            2,864,726      68,718   1,681,473      74,036      70,069     199,996     162,495     145,825      43,451      26,451      54,940     110,726     226,545

Capital
  Capital paid in                               26,941         943       8,675       2,333       1,988       5,564       1,538         762         220         110         268         431       4,109
  Surplus                                       26,941         943       8,675       2,333       1,988       5,564       1,538         762         220         110         268         431       4,109
  Other capital                                      0           0           0           0           0           0           0           0           0           0           0           0           0

Total liabilities and capital                2,918,609      70,604   1,698,822      78,702      74,046     211,124     165,572     147,350      43,890      26,671      55,475     111,588     234,764
 
Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table.

9. Statement of Condition of Each Federal Reserve Bank,  December 21, 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 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. Refer to table 4 and the note on consolidation below.
7. Refer to table 5 and the note on consolidation below.
8. Refer to table 6 and the note on consolidation below.
9.  Refer to table 7 and the note on consolidation below.
10. 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.
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 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.
13. Cash value of agreements, which are collateralized by U.S. Treasury securities, federal agency debt securities, and mortgage-backed securities.
14. 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.
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 below. Before the closing of the AIG recapitalization plan on January 14,
    2011, included 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 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 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. has written credit default swap contracts. 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 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.

The 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 responsible for directing the financial
activities of TALF 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 majority of any residual
losses of the LLCs. Consistent with generally accepted accounting principles, the assets and liabilities of these LLCs have been 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 are eliminated, the net assets of the LLCs
appear as assets on the previous page (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 LLCs, are included in other liabilities in this table (and table 1 and table 8).

 
10. Collateral Held against Federal Reserve Notes: Federal Reserve Agents' Accounts
Millions of dollars
                                                                                            Wednesday   
Federal Reserve notes and collateral                                                       Dec 21, 2011 
 
Federal Reserve notes outstanding                                                          1,205,814
  Less: Notes held by F.R. Banks not subject to collateralization                            177,298
    Federal Reserve notes to be collateralized                                             1,028,516
Collateral held against Federal Reserve notes                                              1,028,516
  Gold certificate account                                                                    11,037
  Special drawing rights certificate account                                                   5,200
  U.S. Treasury, agency debt, and mortgage-backed securities pledged (1,2)                 1,012,279
  Other assets pledged                                                                             0
Memo:
Total U.S. Treasury, agency debt, and mortgage-backed securities (1,2)                     2,640,671
  Less: Face value of securities under reverse repurchase agreements                          77,985
    U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged      2,562,686
 
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.