FEDERAL RESERVE statistical release

H.4.1

Factors Affecting Reserve Balances of Depository Institutions and

Condition Statement of Federal Reserve Banks July 23, 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

Jul 22, 2015 Jul 15, 2015 Jul 23, 2014

Wednesday

Jul 22, 2015

Reserve Bank credit 4,461,067 + 12,000 + 97,442 4,462,536

Securities held outright1 4,244,822 + 10,983 + 108,210 4,245,923

U.S. Treasury securities 2,461,322 + 132 + 48,804 2,461,370

Bills2 0 0 0 0

Notes and bonds, nominal2 2,346,641 0 + 47,540 2,346,641

Notes and bonds, inflation-indexed2 98,534 0 + 1,207 98,534

Inflation compensation3 16,146 + 131 + 55 16,194

Federal agency debt securities2 35,208 - 687 - 7,442 35,093

Mortgage-backed securities4 1,748,293 + 11,539 + 66,850 1,749,460

Unamortized premiums on securities held outright5 197,640 - 54 - 11,866 197,502

Unamortized discounts on securities held outright5 -17,440 + 25 + 1,109 -17,428

Repurchase agreements6 0 0 0 0

Loans 192 + 22 - 58 197

Primary credit 2 0 - 9 4

Secondary credit 0 0 0 0

Seasonal credit 190 + 22 + 1 193

Term Asset-Backed Securities Loan Facility7 0 0 - 49 0

Other credit extensions 0 0 0 0

Net portfolio holdings of Maiden Lane LLC8 1,698 0 + 37 1,698

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 - 60 0

Float -332 + 135 + 212 -374

Central bank liquidity swaps11 659 + 351 + 582 659

Other Federal Reserve assets12 33,828 + 538 - 641 34,359

Foreign currency denominated assets13 19,403 - 286 - 4,498 19,414

Gold stock 11,041 0 0 11,041

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

Treasury currency outstanding14 46,939 + 14 + 925 46,939

Total factors supplying reserve funds 4,543,651 + 11,728 + 93,869 4,545,130

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

Jul 22, 2015 Jul 15, 2015 Jul 23, 2014

Wednesday

Jul 22, 2015

Currency in circulation14 1,369,754 - 493 + 86,028 1,370,677

Reverse repurchase agreements15 265,730 - 4,326 + 45,193 266,195

Foreign official and international accounts 150,938 - 2,930 + 46,500 153,500

Others 114,792 - 1,396 - 1,307 112,695

Treasury cash holdings 96 + 15 - 42 95

Deposits with F.R. Banks, other than reserve balances 210,482 + 5,995 + 121,481 198,076

Term deposits held by depository institutions 0 0 0 0

U.S. Treasury, General Account 194,772 + 18,361 + 130,634 183,203

Foreign official 5,243 0 - 1,322 5,243

Other16 10,466 - 12,366 - 7,833 9,630

Other liabilities and capital17 66,046 - 869 + 1,969 64,630

Total factors, other than reserve balances,

absorbing reserve funds 1,912,108 + 322 + 254,628 1,899,673

Reserve balances with Federal Reserve Banks 2,631,543 + 11,406 - 160,759 2,645,456

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

Jul 22, 2015 Jul 15, 2015 Jul 23, 2014

Wednesday

Jul 22, 2015

Securities held in custody for foreign official and international

accounts 3,340,353 - 4,252 + 29,575 3,325,571

Marketable U.S. Treasury securities1 2,997,152 - 3,807 + 18,215 2,982,765

Federal agency debt and mortgage-backed securities2 298,948 + 83 + 9,646 298,534

Other securities3 44,253 - 528 + 1,715 44,272

Securities lent to dealers 10,917 + 1,231 + 423 10,267

Overnight facility4 10,917 + 1,231 + 423 10,267

U.S. Treasury securities 10,859 + 1,253 + 1,465 10,211

Federal agency debt securities 58 - 22 - 1,043 56

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, July 22, 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 182 15 0 0 0 ... 197

U.S. Treasury securities1

Holdings 1 1,288 146,748 1,099,409 569,305 644,620 2,461,370

Weekly changes + 1 - 1 + 3,614 - 3,589 + 20 + 87 + 132

Federal agency debt securities2

Holdings 0 947 11,654 20,145 0 2,347 35,093

Weekly changes - 802 + 947 + 1,657 - 2,604 0 0 - 802

Mortgage-backed securities3

Holdings 0 0 0 79 9,640 1,739,741 1,749,460

Weekly changes 0 0 0 0 + 7 + 5,645 + 5,653

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

Central bank liquidity swaps5 659 0 0 0 0 0 659

Reverse repurchase agreements4 266,195 0 ... ... ... ... 266,195

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

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 Jul 22, 2015

Mortgage-backed securities held outright1 1,749,460

Commitments to buy mortgage-backed securities2 23,460

Commitments to sell mortgage-backed securities2 0

Cash and cash equivalents3 79

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 Jul 22, 2015

Net portfolio holdings of Maiden Lane LLC1 1,698

Outstanding principal amount of loan extended by the Federal Reserve Bank of New York2 0

Accrued interest payable to the Federal Reserve Bank of New York2 0

Outstanding principal amount and accrued interest on loan payable to JPMorgan Chase & Co.3 0

1. Fair value. Fair value reflects an estimate of the price that would be received upon selling an asset if the transaction were to be conducted in an

orderly market on the measurement date. Revalued quarterly. This table reflects valuations as of March 31, 2015. Any assets purchased after

this valuation date are initially recorded at cost until their estimated fair value as of the purchase date becomes available.

2. Book value. This amount was eliminated when preparing the Federal Reserve Bank of New York’s statement of condition consistent with

consolidation under generally accepted accounting principles. Refer to the note on consolidation accompanying table 6.

3. Book value. The fair value of these obligations is included in other liabilities and capital in table 1 and in other liabilities and accrued dividends in

table 5 and table 6.

Note: On June 26, 2008, the Federal Reserve Bank of New York (FRBNY) extended credit to Maiden Lane LLC under the authority of section 13(3) of

the Federal Reserve Act. This limited liability company was formed to acquire certain assets of Bear Stearns and to manage those assets through time

to maximize repayment of the credit extended and to minimize disruption to financial markets. The remaining outstanding balances of the senior loan

from FRBNY to Maiden Lane LLC, and the subordinated loan from JPMorgan Chase & Co. to Maiden Lane LLC were repaid in full, with interest.
H.4.1

5. Consolidated Statement of Condition of All Federal Reserve Banks

Millions of dollars

Change since

Assets, liabilities, and capital Wednesday Wednesday Eliminations from

consolidation

Wednesday

Jul 22, 2015 Jul 15, 2015 Jul 23, 2014

Assets

Gold certificate account 11,037 0 0

Special drawing rights certificate account 5,200 0 0

Coin 1,885 + 3 - 32

Securities, unamortized premiums and discounts,

repurchase agreements, and loans 4,426,195 + 4,752 + 94,346

Securities held outright1 4,245,923 + 4,982 + 105,392

U.S. Treasury securities 2,461,370 + 132 + 47,754

Bills2 0 0 0

Notes and bonds, nominal2 2,346,641 0 + 46,475

Notes and bonds, inflation-indexed2 98,534 0 + 1,207

Inflation compensation3 16,194 + 131 + 71

Federal agency debt securities2 35,093 - 802 - 7,557

Mortgage-backed securities4 1,749,460 + 5,653 + 65,195

Unamortized premiums on securities held outright5 197,502 - 275 - 12,099

Unamortized discounts on securities held outright5 -17,428 + 31 + 1,114

Repurchase agreements6 0 0 0

Loans 197 + 12 - 62

Net portfolio holdings of Maiden Lane LLC7 1,698 0 + 44

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 - 60

Items in process of collection (0) 57 - 20 - 10

Bank premises 2,241 0 - 22

Central bank liquidity swaps10 659 + 351 + 582

Foreign currency denominated assets11 19,414 - 100 - 4,432

Other assets12 32,118 + 1,914 - 575

Total assets (0) 4,500,503 + 6,898 + 89,757

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

Jul 22, 2015 Jul 15, 2015 Jul 23, 2014

Liabilities

Federal Reserve notes, net of F.R. Bank holdings 1,325,714 + 15 + 85,487

Reverse repurchase agreements13 266,195 + 10,171 + 24,506

Deposits (0) 2,843,533 - 2,531 - 21,826

Term deposits held by depository institutions 0 0 0

Other deposits held by depository institutions 2,645,457 - 9,688 - 142,540

U.S. Treasury, General Account 183,203 + 7,497 + 127,396

Foreign official 5,243 - 1 - 1,321

Other14 (0) 9,630 - 338 - 5,361

Deferred availability cash items (0) 431 + 94 - 184

Other liabilities and accrued dividends15 6,334 - 849 - 201

Total liabilities (0) 4,442,207 + 6,900 + 87,782

Capital accounts

Capital paid in 29,148 - 1 + 987

Surplus 29,148 - 1 + 987

Other capital accounts 0 0 0

Total capital 58,296 - 2 + 1,975

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, July 22, 2015

Millions of dollars

Kansas San Assets, liabilities, and capital Total Boston New York Philadelphia Cleveland Richmond Atlanta Chicago St. Louis Minneapolis City Dallas Francisco

Assets

Gold certificate account 11,037 347 3,709 340 505 783 1,600 734 299 171 288 891 1,370

Special drawing rights certificate acct. 5,200 196 1,818 210 237 412 654 424 150 90 153 282 574

Coin 1,885 39 65 131 131 301 193 277 33 44 149 195 326

Securities, unamortized premiums and

discounts, repurchase agreements,

and loans 4,426,195 112,197 2,656,981 110,082 106,411 240,392 249,264 164,457 46,193 27,020 57,503 142,585 513,110

Securities held outright1 4,245,923 107,632 2,548,879 105,603 102,082 230,611 239,097 157,755 44,279 25,822 55,157 136,775 492,232

U.S. Treasury securities 2,461,370 62,395 1,477,590 61,218 59,177 133,686 138,605 91,451 25,668 14,969 31,974 79,289 285,348

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

Notes and bonds3 2,461,370 62,395 1,477,590 61,218 59,177 133,686 138,605 91,451 25,668 14,969 31,974 79,289 285,348

Federal agency debt securities2 35,093 890 21,067 873 844 1,906 1,976 1,304 366 213 456 1,130 4,068

Mortgage-backed securities4 1,749,460 44,348 1,050,222 43,512 42,061 95,019 98,516 65,000 18,244 10,639 22,726 56,356 202,816

Unamortized premiums on securities 

held outright5 197,502 5,007 118,563 4,912 4,748 10,727 11,122 7,338 2,060 1,201 2,566 6,362 22,897

Unamortized discounts on securities 

held outright5 -17,428 -442 -10,462 -433 -419 -947 -981 -648 -182 -106 -226 -561 -2,020

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

Loans 197 0 1 0 0 0 27 11 36 103 7 9 2

Net portfolio holdings of Maiden

Lane LLC7 1,698 0 1,698 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 57 0 0 0 0 0 56 0 0 0 0 0 0

Bank premises 2,241 126 437 73 108 216 209 204 119 94 238 220 197

Central bank liquidity swaps10 659 30 212 37 51 151 37 18 6 3 7 9 97

Foreign currency denominated

assets11 19,414 880 6,259 1,085 1,513 4,454 1,104 521 181 81 204 280 2,850

Other assets12 32,118 857 18,762 811 785 1,911 1,821 1,207 425 227 457 1,129 3,727

Interdistrict settlement account 0 + 8,360 - 51,291 + 13,416 + 23,305 + 21,662 - 14,470 + 7,029 + 7,279 + 4,438 + 1,978 + 5,447 - 27,154

Total assets 4,500,503 123,031 2,638,649 126,185 133,048 270,283 240,469 174,871 54,684 32,169 60,978 151,038 495,098

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, July 22, 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 1,508,191 49,271 490,040 50,382 80,424 104,386 207,245 106,077 49,112 26,778 41,625 118,355 184,496

Less: Notes held by F.R. Banks 182,477 6,182 62,363 5,692 9,682 12,726 22,542 11,020 4,902 2,901 4,778 14,405 25,285

Federal Reserve notes, net 1,325,714 43,090 427,677 44,690 70,742 91,660 184,703 95,057 44,210 23,878 36,847 103,950 159,211

Reverse repurchase agreements13 266,195 6,748 159,800 6,621 6,400 14,458 14,990 9,890 2,776 1,619 3,458 8,575 30,860

Deposits 2,843,533 70,395 2,028,826 71,309 51,211 150,535 36,852 68,025 6,971 6,071 19,915 37,408 296,013

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 2,645,457 70,392 1,831,063 71,307 51,208 150,294 36,843 68,020 6,935 6,071 19,914 37,406 296,005

U.S. Treasury, General Account 183,203 0 183,203 0 0 0 0 0 0 0 0 0 0

Foreign official 5,243 2 5,216 2 3 9 2 1 0 0 0 1 6

Other14 9,630 2 9,345 0 0 231 7 4 36 0 1 2 3

Deferred availability cash items 431 0 0 0 0 0 226 0 0 205 0 0 0

Interest on Federal Reserve notes due

to U.S. Treasury15 1,686 36 1,122 29 16 13 100 66 21 8 25 64 184

Other liabilities and accrued

dividends 4,648 159 2,157 187 192 472 320 253 135 134 119 181 340

Total liabilities 4,442,207 120,428 2,619,582 122,836 128,562 257,139 237,190 173,291 54,113 31,915 60,363 150,179 486,609

Capital

Capital paid in 29,148 1,302 9,534 1,675 2,243 6,572 1,640 790 285 127 307 430 4,245

Surplus 29,148 1,302 9,534 1,675 2,243 6,572 1,640 790 285 127 307 430 4,245

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

Total liabilities and capital 4,500,503 123,031 2,638,649 126,185 133,048 270,283 240,469 174,871 54,684 32,169 60,978 151,038 495,098

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, July 22, 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 Jul 22, 2015

Federal Reserve notes outstanding 1,508,191

Less: Notes held by F.R. Banks not subject to collateralization 182,477

Federal Reserve notes to be collateralized 1,325,714

Collateral held against Federal Reserve notes 1,325,714

Gold certificate account 11,037

Special drawing rights certificate account 5,200

U.S. Treasury, agency debt, and mortgage-backed securities pledged1,2 1,309,477

Other assets pledged 0

Memo:

Total U.S. Treasury, agency debt, and mortgage-backed securities1,2 4,245,923

Less: Face value of securities under reverse repurchase agreements 259,747

U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 3,986,176

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.