FEDERAL RESERVE statistical release

H.4.1

Factors Affecting Reserve Balances of Depository Institutions and

Condition Statement of Federal Reserve Banks November 6, 2014

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

Nov 5, 2014 Oct 29, 2014 Nov 6, 2013

Wednesday

Nov 5, 2014

Reserve Bank credit 4,445,116 - 5,804 + 642,211 4,445,928

Securities held outright1 4,219,168 - 4,752 + 645,877 4,219,177

U.S. Treasury securities 2,461,573 + 855 + 341,055 2,461,581

Bills2 0 0 0 0

Notes and bonds, nominal2 2,346,713 + 878 + 328,379 2,346,713

Notes and bonds, inflation-indexed2 98,469 0 + 9,880 98,469

Inflation compensation3 16,391 - 23 + 2,796 16,400

Federal agency debt securities2 39,700 0 - 19,380 39,700

Mortgage-backed securities4 1,717,894 - 5,608 + 324,201 1,717,896

Unamortized premiums on securities held outright5 208,952 - 459 + 3,332 208,770

Unamortized discounts on securities held outright5 -18,678 + 27 - 10,183 -18,662

Repurchase agreements6 0 0 0 0

Loans 158 - 60 - 30 145

Primary credit 8 - 4 + 2 19

Secondary credit 0 0 - 1 0

Seasonal credit 150 - 44 + 68 127

Term Asset-Backed Securities Loan Facility7 0 - 12 - 100 0

Other credit extensions 0 0 0 0

Net portfolio holdings of Maiden Lane LLC8 1,679 + 7 + 164 1,679

Net portfolio holdings of Maiden Lane II LLC9 0 0 - 64 0

Net portfolio holdings of Maiden Lane III LLC9 0 0 - 22 0

Net portfolio holdings of TALF LLC10 24 0 - 87 24

Float -599 - 87 - 124 -708

Central bank liquidity swaps11 1 + 1 - 271 1

Other Federal Reserve assets12 34,411 - 480 + 3,617 35,502

Foreign currency denominated assets13 21,999 - 482 - 2,120 21,755

Gold stock 11,041 0 0 11,041

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

Treasury currency outstanding14 46,230 + 14 + 812 46,230

Total factors supplying reserve funds 4,529,587 - 6,271 + 640,904 4,530,154

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

Nov 5, 2014 Oct 29, 2014 Nov 6, 2013

Wednesday

Nov 5, 2014

Currency in circulation14 1,302,204 + 5,010 + 83,315 1,307,140

Reverse repurchase agreements15 259,439 + 40,287 + 147,292 224,595

Foreign official and international accounts 106,371 + 3,965 + 91 101,695

Others 153,068 + 36,322 + 147,201 122,900

Treasury cash holdings 202 + 4 - 4 197

Deposits with F.R. Banks, other than reserve balances 343,778 + 18,571 + 291,035 335,643

Term deposits held by depository institutions 219,144 + 47,283 + 219,144 219,144

U.S. Treasury, General Account 111,382 - 7,042 + 77,024 104,204

Foreign official 5,253 - 11 - 3,401 5,248

Other16 7,999 - 21,660 - 1,731 7,047

Other liabilities and capital17 62,902 - 1,396 - 1,209 62,361

Total factors, other than reserve balances,

absorbing reserve funds 1,968,525 + 62,475 + 520,430 1,929,936

Reserve balances with Federal Reserve Banks 2,561,062 - 68,747 + 120,474 2,600,218

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 7.

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 7.

10. Refer to table 5 and the note on consolidation accompanying table 7.

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 liabilities of TALF LLC to entities other than the Federal Reserve Bank of New York, including liabilities that have recourse only to the

portfolio holdings of this LLC. Refer to table 5 and the note on consolidation accompanying table 7. Also includes the liability for interest on Federal

Reserve notes due to U.S. Treasury. Refer to table 6 and table 7.

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

Nov 5, 2014 Oct 29, 2014 Nov 6, 2013

Wednesday

Nov 5, 2014

Securities held in custody for foreign official and international

accounts 3,302,857 + 11,394 - 29,132 3,312,268

Marketable U.S. Treasury securities1 2,976,201 + 12,657 + 5,689 2,985,698

Federal agency debt and mortgage-backed securities2 284,892 - 1,186 - 35,346 284,897

Other securities3 41,765 - 76 + 525 41,673

Securities lent to dealers 9,553 - 550 - 3,861 8,994

Overnight facility4 9,553 - 550 - 3,861 8,994

U.S. Treasury securities 8,863 - 559 - 3,427 8,320

Federal agency debt securities 690 + 9 - 433 674

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, 6, and 7.

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, November 5, 2014

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 39 106 0 0 0 ... 145

U.S. Treasury securities1

Holdings 88 2 3,193 1,064,662 729,807 663,829 2,461,581

Weekly changes + 87 - 87 0 + 14,656 - 14,657 + 2 + 1

Federal agency debt securities2

Holdings 1,023 1,089 3,442 31,799 0 2,347 39,700

Weekly changes + 1,023 - 1,023 0 0 0 0 0

Mortgage-backed securities3

Holdings 0 0 0 10 5,321 1,712,564 1,717,896

Weekly changes 0 0 0 0 + 214 - 206 + 8

Asset-backed securities held by

TALF LLC4 0 0 0 0 0 0 0

Repurchase agreements5 0 0 ... ... ... ... 0

Central bank liquidity swaps6 1 0 0 0 0 0 1

Reverse repurchase agreements5 224,595 0 ... ... ... ... 224,595

Term deposits 219,144 0 0 ... ... ... 219,144

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

5. Cash value of agreements.

6. 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 Nov 5, 2014

Mortgage-backed securities held outright1 1,717,896

Commitments to buy mortgage-backed securities2 50,921

Commitments to sell mortgage-backed securities2 0

Cash and cash equivalents3 4

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 6 and table 7.

4. Information on Principal Accounts of Maiden Lane LLC

Millions of dollars

Wednesday Account name Nov 5, 2014

Net portfolio holdings of Maiden Lane LLC1 1,679

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

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

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

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

orderly market on the measurement date. Revalued quarterly. This table reflects valuations as of September 30, 2014. Any assets purchased after

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

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

consolidation under generally accepted accounting principles. Refer to the note on consolidation accompanying table 7.

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 6 and table 7.

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. Information on Principal Accounts of TALF LLC

Millions of dollars

Wednesday Account name Nov 5, 2014

Asset-backed securities holdings1 0

Other investments, net 24

Net portfolio holdings of TALF LLC 24

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 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.

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 7.

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 6

and table 7.

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) extended loans with a term of up

to five years to holders of eligible asset-backed securities. The Federal Reserve closed the TALF for new loan extensions in 2010. 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.

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. Prior to January 15, 2013, the U.S. Treasury's Troubled Asset Relief Program

(TARP) committed backup funding to TALF LLC, providing credit protection to the FRBNY. However, the accumulated fees and income collected through the

TALF and held by TALF LLC now exceed the remaining amount of TALF loans outstanding. Accordingly, the TARP credit protection commitment has been

terminated, and TALF LLC has begun to distribute excess proceeds to the Treasury and the FRBNY. Any remaining funds will be shared by the FRBNY and

the U.S. Treasury.
H.4.1

6. Consolidated Statement of Condition of All Federal Reserve Banks

Millions of dollars

Change since

Assets, liabilities, and capital Wednesday Wednesday Eliminations from

consolidation

Wednesday

Nov 5, 2014 Oct 29, 2014 Nov 6, 2013

Assets

Gold certificate account 11,037 0 0

Special drawing rights certificate account 5,200 0 0

Coin 1,883 - 31 - 88

Securities, unamortized premiums and discounts,

repurchase agreements, and loans 4,409,430 - 390 + 633,931

Securities held outright1 4,219,177 + 9 + 640,851

U.S. Treasury securities 2,461,581 + 1 + 336,029

Bills2 0 0 0

Notes and bonds, nominal2 2,346,713 - 1 + 323,355

Notes and bonds, inflation-indexed2 98,469 0 + 9,880

Inflation compensation3 16,400 + 2 + 2,795

Federal agency debt securities2 39,700 0 - 19,380

Mortgage-backed securities4 1,717,896 + 8 + 324,202

Unamortized premiums on securities held outright5 208,770 - 370 + 3,090

Unamortized discounts on securities held outright5 -18,662 + 32 - 9,973

Repurchase agreements6 0 0 0

Loans 145 - 61 - 36

Net portfolio holdings of Maiden Lane LLC7 1,679 0 + 163

Net portfolio holdings of Maiden Lane II LLC8 0 0 - 64

Net portfolio holdings of Maiden Lane III LLC8 0 0 - 22

Net portfolio holdings of TALF LLC9 24 0 - 86

Items in process of collection (0) 75 + 4 - 17

Bank premises 2,260 - 8 - 24

Central bank liquidity swaps10 1 + 1 - 271

Foreign currency denominated assets11 21,755 - 787 - 2,374

Other assets12 33,242 + 1,043 + 3,814

Total assets (0) 4,486,585 - 169 + 634,962

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

6. 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

Nov 5, 2014 Oct 29, 2014 Nov 6, 2013

Liabilities

Federal Reserve notes, net of F.R. Bank holdings 1,262,986 + 7,916 + 85,504

Reverse repurchase agreements13 224,595 - 12,094 + 113,786

Deposits (0) 2,935,861 + 4,558 + 436,820

Term deposits held by depository institutions 219,144 + 47,284 + 219,144

Other deposits held by depository institutions 2,600,218 - 27,055 + 150,184

U.S. Treasury, General Account 104,204 - 14,456 + 73,608

Foreign official 5,248 - 5 - 3,406

Other14 (0) 7,047 - 1,210 - 2,711

Deferred availability cash items (0) 783 + 165 - 136

Other liabilities and accrued dividends15 5,880 - 738 - 2,666

Total liabilities (0) 4,430,104 - 193 + 633,307

Capital accounts

Capital paid in 28,240 + 12 + 827

Surplus 28,240 + 12 + 827

Other capital accounts 0 0 0

Total capital 56,481 + 24 + 1,655

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 7.

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 7.

9. Refer to table 5 and the note on consolidation accompanying table 7.

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 liabilities of TALF LLC to entities other than the Federal Reserve Bank of New York, including liabilities that have recourse only to the

portfolio holdings of this LLC. Refer to table 5 and the note on consolidation accompanying table 7. Also includes the liability for interest on Federal

Reserve notes due to U.S. Treasury.
H.4.1

7. Statement of Condition of Each Federal Reserve Bank, November 5, 2014

Millions of dollars

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

Assets

Gold certificate account 11,037 352 4,125 338 464 824 1,349 706 278 173 291 880 1,257

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

Coin 1,883 30 88 123 118 309 222 271 17 45 150 178 332

Securities, unamortized premiums and

discounts, repurchase agreements,

and loans 4,409,430 89,192 2,706,258 105,633 96,271 246,438 243,777 180,218 54,390 27,091 58,103 134,361 467,697

Securities held outright1 4,219,177 85,347 2,589,577 101,079 92,119 235,813 233,234 172,444 52,041 25,857 55,576 128,559 447,532

U.S. Treasury securities 2,461,581 49,793 1,510,829 58,972 53,745 137,579 136,075 100,608 30,362 15,085 32,425 75,005 261,102

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

Notes and bonds3 2,461,581 49,793 1,510,829 58,972 53,745 137,579 136,075 100,608 30,362 15,085 32,425 75,005 261,102

Federal agency debt securities2 39,700 803 24,366 951 867 2,219 2,195 1,623 490 243 523 1,210 4,211

Mortgage-backed securities4 1,717,896 34,750 1,054,382 41,156 37,508 96,014 94,964 70,213 21,189 10,528 22,629 52,345 182,219

Unamortized premiums on securities 

held outright5 208,770 4,223 128,135 5,001 4,558 11,668 11,541 8,533 2,575 1,279 2,750 6,361 22,144

Unamortized discounts on securities 

held outright5 -18,662 -378 -11,454 -447 -407 -1,043 -1,032 -763 -230 -114 -246 -569 -1,980

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

Loans 145 0 0 0 1 0 34 5 5 70 22 9 0

Net portfolio holdings of Maiden

Lane LLC7 1,679 0 1,679 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 24 0 24 0 0 0 0 0 0 0 0 0 0

Items in process of collection 75 0 0 0 0 0 73 1 0 0 0 0 0

Bank premises 2,260 122 439 74 110 221 211 197 123 96 242 224 200

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

Foreign currency denominated

assets11 21,755 989 6,999 1,635 1,730 4,536 1,251 601 183 92 229 364 3,147

Other assets12 33,242 709 20,138 797 728 2,004 1,843 1,349 481 239 464 1,032 3,458

Interdistrict settlement account 0 + 27,398 - 57,706 - 965 + 12,963 - 12,931 + 3,311 - 13,890 - 7,922 + 207 - 1,781 + 8,526 + 42,791

Total assets 4,486,585 118,989 2,683,861 107,846 112,621 241,814 252,691 169,877 47,699 28,034 57,850 145,846 519,457

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

7. Statement of Condition of Each Federal Reserve Bank, November 5, 2014 (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 1,453,339 44,489 481,281 44,616 67,277 102,581 214,058 99,219 39,646 21,359 36,562 118,105 184,146

Less: Notes held by F.R. Banks 190,353 5,183 66,879 5,618 8,331 11,346 21,954 10,639 4,588 3,692 5,171 20,155 26,797

Federal Reserve notes, net 1,262,986 39,306 414,401 38,998 58,946 91,235 192,105 88,579 35,059 17,667 31,392 97,949 157,349

Reverse repurchase agreements13 224,595 4,543 137,848 5,381 4,904 12,553 12,415 9,180 2,770 1,376 2,958 6,843 23,823

Deposits 2,935,861 72,402 2,110,321 60,139 44,118 124,982 43,805 70,258 9,188 8,524 22,761 39,841 329,521

Term deposits held by depository

institutions 219,144 30 162,090 22,320 2,458 27 570 9,195 20 95 3,558 605 18,176

Other deposits held by depository

institutions 2,600,218 72,365 1,832,013 37,789 41,657 124,748 43,225 61,054 9,168 8,428 19,202 39,233 311,337

U.S. Treasury, General Account 104,204 0 104,204 0 0 0 0 0 0 0 0 0 0

Foreign official 5,248 2 5,221 3 3 8 2 1 0 0 0 1 6

Other14 7,047 6 6,794 27 0 200 7 7 0 0 1 2 3

Deferred availability cash items 783 0 0 0 0 0 682 0 0 101 0 0 0

Interest on Federal Reserve notes due

to U.S. Treasury15 1,169 4 980 -9 -7 -147 95 66 12 9 19 52 96

Other liabilities and accrued

dividends16 4,711 171 1,912 204 217 586 351 266 139 116 121 193 433

Total liabilities 4,430,104 116,426 2,665,462 104,713 108,178 229,209 249,452 168,348 47,169 27,794 57,252 144,879 511,222

Capital

Capital paid in 28,240 1,282 9,200 1,567 2,221 6,302 1,619 764 265 120 299 484 4,117

Surplus 28,240 1,282 9,200 1,567 2,221 6,302 1,619 764 265 120 299 484 4,117

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

Total liabilities and capital 4,486,585 118,989 2,683,861 107,846 112,621 241,814 252,691 169,877 47,699 28,034 57,850 145,846 519,457

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

7. Statement of Condition of Each Federal Reserve Bank, November 5, 2014 (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 table 5 and 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.

16. Includes the liabilities of TALF LLC to entities other than the Federal Reserve Bank of New York, including liabilities that have recourse only to the portfolio holdings of this LLC. Refer to table 5 and

the note on consolidation below.

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 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 6), 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 6).
H.4.1

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

Millions of dollars

Wednesday Federal Reserve notes and collateral Nov 5, 2014

Federal Reserve notes outstanding 1,453,339

Less: Notes held by F.R. Banks not subject to collateralization 190,353

Federal Reserve notes to be collateralized 1,262,986

Collateral held against Federal Reserve notes 1,262,986

Gold certificate account 11,037

Special drawing rights certificate account 5,200

U.S. Treasury, agency debt, and mortgage-backed securities pledged1,2 1,246,749

Other assets pledged 0

Memo:

Total U.S. Treasury, agency debt, and mortgage-backed securities1,2 4,219,177

Less: Face value of securities under reverse repurchase agreements 220,489

U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 3,998,688

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.