FEDERAL RESERVE statistical release

For Release at

4:30 P.M. EST

November 13, 2014

The Board’s H.4.1 statistical release, “Factors Affecting Reserve Balances of Depository

Institutions and Condition Statement of Federal Reserve Banks,” has been modified to reflect the

removal of table 5 “Information on Principal Accounts of TALF LLC” and the line “Assetbacked securities held by TALF LLC” from table 2 “Maturity Distribution of Securities, Loans,

and Selected Other Assets and Liabilities.” Both have been removed because the final Term

Asset-Backed Securities Loan Facility loan was repaid on October 29, 2014, and the net portfolio

holdings of TALF LLC were reduced to zero on November 6, 2014.

In order to provide information on amounts from the previous year, amounts for the “Term

Asset-Backed Securities Loan Facility” and the “Net portfolio holdings of TALF LLC” continue

to be shown on table 1 “Factors Affecting Reserve Balances of Depository Institutions,” and

amounts for the net portfolio holdings of TALF LLC also continue to be shown on the

renumbered table 5 “Consolidated Statement of Condition of All Federal Reserve Banks.”
FEDERAL RESERVE statistical release

H.4.1

Factors Affecting Reserve Balances of Depository Institutions and

Condition Statement of Federal Reserve Banks November 13, 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 12, 2014 Nov 5, 2014 Nov 13, 2013

Wednesday

Nov 12, 2014

Reserve Bank credit 4,447,564 + 2,448 + 625,434 4,447,931

Securities held outright1 4,219,190 + 22 + 628,850 4,219,197

U.S. Treasury securities 2,461,595 + 22 + 329,866 2,461,602

Bills2 0 0 0 0

Notes and bonds, nominal2 2,346,713 0 + 317,198 2,346,713

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

Inflation compensation3 16,413 + 22 + 2,789 16,420

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

Mortgage-backed securities4 1,717,896 + 2 + 318,365 1,717,896

Unamortized premiums on securities held outright5 208,545 - 407 + 2,754 208,425

Unamortized discounts on securities held outright5 -18,643 + 35 - 9,724 -18,632

Repurchase agreements6 0 0 0 0

Loans 134 - 24 - 58 131

Primary credit 17 + 9 + 3 15

Secondary credit 0 0 0 0

Seasonal credit 118 - 32 + 40 116

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

Other credit extensions 0 0 0 0

Net portfolio holdings of Maiden Lane LLC8 1,679 0 + 163 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 0 - 24 - 110 0

Float -625 - 26 + 16 -1,058

Central bank liquidity swaps11 0 - 1 - 272 0

Other Federal Reserve assets12 37,283 + 2,872 + 3,900 38,189

Foreign currency denominated assets13 21,671 - 328 - 2,256 21,664

Gold stock 11,041 0 0 11,041

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

Treasury currency outstanding14 46,244 + 14 + 810 46,244

Total factors supplying reserve funds 4,531,720 + 2,133 + 623,988 4,532,080

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 12, 2014 Nov 5, 2014 Nov 13, 2013

Wednesday

Nov 12, 2014

Currency in circulation14 1,310,871 + 8,667 + 88,783 1,313,116

Reverse repurchase agreements15 206,374 - 53,065 + 102,898 211,570

Foreign official and international accounts 100,448 - 5,923 - 833 99,889

Others 105,926 - 47,142 + 103,731 111,681

Treasury cash holdings 197 - 5 - 12 194

Deposits with F.R. Banks, other than reserve balances 382,526 + 38,748 + 314,663 373,151

Term deposits held by depository institutions 262,102 + 42,958 + 262,102 262,102

U.S. Treasury, General Account 107,205 - 4,177 + 61,566 95,008

Foreign official 5,249 - 4 - 3,412 5,249

Other16 7,971 - 28 - 5,592 10,792

Other liabilities and capital17 63,654 + 752 - 1,328 63,353

Total factors, other than reserve balances,

absorbing reserve funds 1,963,622 - 4,903 + 505,004 1,961,384

Reserve balances with Federal Reserve Banks 2,568,099 + 7,037 + 118,985 2,570,696

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

Nov 12, 2014 Nov 5, 2014 Nov 13, 2013

Wednesday

Nov 12, 2014

Securities held in custody for foreign official and international

accounts 3,309,527 + 6,670 - 14,770 3,304,418

Marketable U.S. Treasury securities1 2,983,035 + 6,834 + 20,752 2,978,332

Federal agency debt and mortgage-backed securities2 284,804 - 88 - 34,879 284,360

Other securities3 41,689 - 76 - 642 41,726

Securities lent to dealers 9,125 - 428 - 965 8,814

Overnight facility4 9,125 - 428 - 965 8,814

U.S. Treasury securities 8,475 - 388 - 532 8,103

Federal agency debt securities 650 - 40 - 433 711

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, November 12, 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 36 95 0 0 0 ... 131

U.S. Treasury securities1

Holdings 88 2 3,193 1,064,665 729,810 663,844 2,461,602

Weekly changes 0 0 0 + 3 + 3 + 15 + 21

Federal agency debt securities2

Holdings 1,023 1,800 2,731 31,799 0 2,347 39,700

Weekly changes 0 + 711 - 711 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 0 0 0

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

Central bank liquidity swaps5 0 0 0 0 0 0 0

Reverse repurchase agreements4 211,570 0 ... ... ... ... 211,570

Term deposits 262,102 0 0 ... ... ... 262,102

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 Nov 12, 2014

Mortgage-backed securities held outright1 1,717,896

Commitments to buy mortgage-backed securities2 55,115

Commitments to sell mortgage-backed securities2 125

Cash and cash equivalents3 2

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 Nov 12, 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 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

Nov 12, 2014 Nov 5, 2014 Nov 13, 2013

Assets

Gold certificate account 11,037 0 0

Special drawing rights certificate account 5,200 0 0

Coin 1,883 0 - 84

Securities, unamortized premiums and discounts,

repurchase agreements, and loans 4,409,121 - 309 + 580,159

Securities held outright1 4,219,197 + 20 + 588,527

U.S. Treasury securities 2,461,602 + 21 + 324,565

Bills2 0 0 0

Notes and bonds, nominal2 2,346,713 0 + 311,898

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

Inflation compensation3 16,420 + 20 + 2,787

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

Mortgage-backed securities4 1,717,896 0 + 283,343

Unamortized premiums on securities held outright5 208,425 - 345 + 1,276

Unamortized discounts on securities held outright5 -18,632 + 30 - 9,598

Repurchase agreements6 0 0 0

Loans 131 - 14 - 46

Net portfolio holdings of Maiden Lane LLC7 1,679 0 + 162

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 0 - 24 - 110

Items in process of collection (0) 123 + 48 - 2

Bank premises 2,261 + 1 - 25

Central bank liquidity swaps10 0 - 1 - 272

Foreign currency denominated assets11 21,664 - 91 - 2,319

Other assets12 35,928 + 2,686 + 4,047

Total assets (0) 4,488,895 + 2,310 + 581,471

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

Nov 12, 2014 Nov 5, 2014 Nov 13, 2013

Liabilities

Federal Reserve notes, net of F.R. Bank holdings 1,268,945 + 5,959 + 90,203

Reverse repurchase agreements13 211,570 - 13,025 + 105,300

Deposits (0) 2,943,847 + 7,986 + 389,572

Term deposits held by depository institutions 262,102 + 42,958 + 262,102

Other deposits held by depository institutions 2,570,696 - 29,522 + 81,679

U.S. Treasury, General Account 95,008 - 9,196 + 60,761

Foreign official 5,249 + 1 - 3,404

Other14 (0) 10,792 + 3,745 - 11,566

Deferred availability cash items (0) 1,181 + 398 - 130

Other liabilities and accrued dividends15 6,854 + 974 - 5,128

Total liabilities (0) 4,432,396 + 2,292 + 579,815

Capital accounts

Capital paid in 28,250 + 10 + 829

Surplus 28,250 + 10 + 829

Other capital accounts 0 0 0

Total capital 56,499 + 18 + 1,656

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, November 12, 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 31 88 121 117 310 222 273 20 45 150 177 330

Securities, unamortized premiums and

discounts, repurchase agreements,

and loans 4,409,121 89,186 2,706,077 105,626 96,264 246,421 243,739 180,211 54,387 27,092 58,099 134,351 467,668

Securities held outright1 4,219,197 85,347 2,589,590 101,079 92,120 235,814 233,235 172,444 52,041 25,857 55,577 128,560 447,535

U.S. Treasury securities 2,461,602 49,794 1,510,841 58,972 53,745 137,581 136,076 100,609 30,362 15,086 32,425 75,006 261,105

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

Notes and bonds3 2,461,602 49,794 1,510,841 58,972 53,745 137,581 136,076 100,609 30,362 15,086 32,425 75,006 261,105

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 208,425 4,216 127,924 4,993 4,551 11,649 11,522 8,519 2,571 1,277 2,745 6,351 22,108

Unamortized discounts on securities 

held outright5 -18,632 -377 -11,436 -446 -407 -1,041 -1,030 -762 -230 -114 -245 -568 -1,976

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

Loans 131 0 0 0 0 0 13 9 5 72 23 8 2

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 0 0 0 0 0 0 0 0 0 0 0 0 0

Items in process of collection 123 0 0 0 0 0 122 0 0 1 0 0 0

Bank premises 2,261 122 439 74 110 221 211 198 123 96 242 224 200

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

Foreign currency denominated

assets11 21,664 985 6,969 1,629 1,723 4,517 1,245 598 182 92 228 362 3,134

Other assets12 35,928 762 21,787 865 787 2,149 1,989 1,457 514 249 496 1,132 3,742

Interdistrict settlement account 0 + 21,711 - 54,365 - 815 + 14,451 - 4,572 + 2,322 - 18,827 - 7,800 + 297 - 1,958 + 8,183 + 41,373

Total assets 4,488,895 113,344 2,688,617 108,047 114,152 250,283 251,854 165,040 47,854 28,134 57,702 145,590 518,278

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, November 12, 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 1,455,438 44,460 481,114 44,758 67,885 102,948 214,220 99,214 39,799 21,335 36,628 118,412 184,665

Less: Notes held by F.R. Banks 186,493 4,976 64,476 5,428 8,452 11,276 21,729 10,365 4,654 3,615 5,136 19,832 26,555

Federal Reserve notes, net 1,268,945 39,484 416,639 39,330 59,434 91,672 192,490 88,849 35,144 17,720 31,493 98,580 158,110

Reverse repurchase agreements13 211,570 4,280 129,854 5,069 4,619 11,825 11,695 8,647 2,610 1,297 2,787 6,447 22,441

Deposits 2,943,847 66,805 2,120,298 60,270 45,402 133,638 42,978 65,660 9,404 8,556 22,675 39,413 328,748

Term deposits held by depository

institutions 262,102 35 191,220 27,320 2,508 26 575 14,200 20 105 1,548 2,600 21,945

Other deposits held by depository

institutions 2,570,696 66,761 1,818,308 32,920 42,891 133,405 42,394 51,452 9,384 8,451 21,125 36,811 306,794

U.S. Treasury, General Account 95,008 0 95,008 0 0 0 0 0 0 0 0 0 0

Foreign official 5,249 2 5,222 3 3 8 2 1 0 0 0 1 6

Other14 10,792 7 10,541 28 0 198 7 7 0 0 1 1 3

Deferred availability cash items 1,181 0 0 0 0 0 988 0 0 192 0 0 0

Interest on Federal Reserve notes due

to U.S. Treasury15 1,869 33 1,332 34 25 -60 100 86 23 11 24 134 127

Other liabilities and accrued

dividends16 4,984 179 2,104 211 224 604 349 270 142 118 125 198 461

Total liabilities 4,432,396 110,780 2,670,226 104,914 109,704 237,678 248,602 163,512 47,324 27,894 57,104 144,771 509,887

Capital

Capital paid in 28,250 1,282 9,195 1,567 2,224 6,302 1,626 764 265 120 299 409 4,196

Surplus 28,250 1,282 9,195 1,567 2,224 6,302 1,626 764 265 120 299 409 4,196

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

Total liabilities and capital 4,488,895 113,344 2,688,617 108,047 114,152 250,283 251,854 165,040 47,854 28,134 57,702 145,590 518,278

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, November 12, 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 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 Nov 12, 2014

Federal Reserve notes outstanding 1,455,438

Less: Notes held by F.R. Banks not subject to collateralization 186,493

Federal Reserve notes to be collateralized 1,268,945

Collateral held against Federal Reserve notes 1,268,945

Gold certificate account 11,037

Special drawing rights certificate account 5,200

U.S. Treasury, agency debt, and mortgage-backed securities pledged1,2 1,252,708

Other assets pledged 0

Memo:

Total U.S. Treasury, agency debt, and mortgage-backed securities1,2 4,219,197

Less: Face value of securities under reverse repurchase agreements 199,635

U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 4,019,562

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.