FEDERAL RESERVE statistical release

For Release at
4:30 P.M. EST
December 18, 2014


Publication Note

The Board's H.4.1 statistical release, "Factors Affecting Reserve Balances of Depository Institutions and
Condition Statement of Federal Reserve Banks," for the week ending December 24, 2014, will be published on
Monday, December 29, 2014, because the federal government is closed on both Thursday, December 25, 2014, and
Friday, December 26, 2014.                                                                                  



FEDERAL RESERVE statistical release

H.4.1

Factors Affecting Reserve Balances of Depository Institutions and     
Condition Statement of Federal Reserve Banks                                                December 18, 2014


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 17, 2014 
Federal Reserve Banks                                     Dec 17, 2014 Dec 10, 2014 Dec 18, 2013              

Reserve Bank credit                                         4,463,861   +   16,101   +  505,375    4,462,036  
  Securities held outright (1)                              4,243,803   +   13,728   +  510,921    4,242,129  
    U.S. Treasury securities                                2,461,519   -       65   +  269,259    2,461,495  
      Bills (2)                                                     0            0            0            0  
      Notes and bonds, nominal (2)                          2,346,713            0   +  259,494    2,346,712  
      Notes and bonds, inflation-indexed (2)                   98,469            0   +    7,090       98,469  
      Inflation compensation (3)                               16,337   -       66   +    2,675       16,314  
    Federal agency debt securities (2)                         38,677            0   -   18,544       38,677  
    Mortgage-backed securities (4)                          1,743,607   +   13,793   +  260,206    1,741,957  
  Unamortized premiums on securities held outright (5)        207,805   +      203   -    1,063      207,632  
  Unamortized discounts on securities held outright (5)       -18,477   +       32   -    7,073      -18,463  
  Repurchase agreements (6)                                         0            0            0            0  
  Loans                                                            95   -        5   -       73           90  
    Primary credit                                                  8   +        1   +        2            9  
    Secondary credit                                                0            0            0            0  
    Seasonal credit                                                88   -        5   +       24           81  
    Term Asset-Backed Securities Loan Facility (7)                  0            0   -       98            0  
    Other credit extensions                                         0            0            0            0  
  Net portfolio holdings of Maiden Lane LLC (8)                 1,681            0   +      161        1,678  
  Net portfolio holdings of Maiden Lane II LLC (9)                  0            0   -       63            0  
  Net portfolio holdings of Maiden Lane III LLC (9)                 0            0   -       22            0  
  Net portfolio holdings of TALF LLC (10)                           0            0   -      109            0  
  Float                                                          -534   +       50   +       86         -535  
  Central bank liquidity swaps (11)                                 2            0   -      271            2  
  Other Federal Reserve assets (12)                            29,485   +    2,091   +    2,880       29,501  
Foreign currency denominated assets (13)                       21,492   +      262   -    2,465       21,463  
Gold stock                                                     11,041            0            0       11,041  
Special drawing rights certificate account                      5,200            0            0        5,200  
Treasury currency outstanding (14)                             46,314   +       14   +      826       46,314  
                                                                                                              
Total factors supplying reserve funds                       4,547,909   +   16,377   +  503,736    4,546,054  

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 17, 2014 
Federal Reserve Banks                                     Dec 17, 2014 Dec 10, 2014 Dec 18, 2013              

Currency in circulation (14)                                 1,322,792   +    4,391   +   93,082    1,326,814 
Reverse repurchase agreements (15)                             235,294   -    4,612   +  119,431      230,016 
  Foreign official and international accounts                   97,267   +    4,967   -    2,884       98,233 
  Others                                                       138,027   -    9,579   +  122,315      131,783 
Treasury cash holdings                                             187   -        5   -       40          190 
Deposits with F.R. Banks, other than reserve balances          137,414   -  338,492   +   24,691      186,366 
  Term deposits held by depository institutions                      0   -  402,153   -   13,532            0 
  U.S. Treasury, General Account                               114,776   +   54,684   +   44,204      171,314 
  Foreign official                                               5,207   -       12   -    2,776        5,206 
  Other (16)                                                    17,431   +    8,988   -    3,205        9,846 
Other liabilities and capital (17)                              65,315   +    1,327   +      966       63,559 
                                                                                                              
Total factors, other than reserve balances,               
    absorbing reserve funds                                  1,761,001   -  337,393   +  238,129    1,806,944 
                                                                                                              
Reserve balances with Federal Reserve Banks                  2,786,907   +  353,769   +  265,607    2,739,110 

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.





1A. Memorandum Items
Millions of dollars
Memorandum item                                                  Averages of daily figures         Wednesday  
                                                           Week ended    Change from week ended  Dec 17, 2014 
                                                          Dec 17, 2014 Dec 10, 2014 Dec 18, 2013              

Securities held in custody for foreign official and       
     international accounts                                  3,328,158   +    3,942   -   51,598    3,318,643 
  Marketable U.S. Treasury securities (1)                    2,986,660   +    5,113   -   34,363    2,978,012 
  Federal agency debt and mortgage-backed securities (2)       299,623   -      969   -   15,824      298,807 
  Other securities (3)                                          41,875   -      201   -    1,410       41,824 
Securities lent to dealers                                      11,338   -      292   +       92       11,461 
  Overnight facility (4)                                        11,338   -      292   +       92       11,461 
    U.S. Treasury securities                                    10,689   -      295   +      438       10,821 
    Federal agency debt securities                                 649   +        3   -      346          640 

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, December 17, 2014   

Millions of dollars
Remaining Maturity                     Within 15     16 days to    91 days to   Over 1 year   Over 5 year     Over 10         All      
                                          days        90 days        1 year      to 5 years   to 10 years      years                   

Loans                                           39            52             0             0             0           ...            90 
U.S. Treasury securities (1)                                                                                                           
  Holdings                                       1             4         3,516     1,105,863       693,726       658,385     2,461,495 
  Weekly changes                        +        1             0    -        1    -        9    -        9    -       48    -       65 
Federal agency debt securities (2)                                                                                                     
  Holdings                                       0         1,800         3,933        30,597             0         2,347        38,677 
  Weekly changes                                 0             0             0             0             0             0             0 
Mortgage-backed securities (3)                                                                                                         
  Holdings                                       0             0             0            13         6,563     1,735,382     1,741,957 
  Weekly changes                                 0             0             0             0    +       37    +   12,105    +   12,141 
Repurchase agreements (4)                        0             0           ...           ...           ...           ...             0 
Central bank liquidity swaps (5)                 2             0             0             0             0             0             2 
                                                                                                                                       
Reverse repurchase agreements (4)          130,016       100,000           ...           ...           ...           ...       230,016 
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.     
                                                                                                            






3. Supplemental Information on Mortgage-Backed Securities
Millions of dollars
Account name                                                                                                            Wednesday   
                                                                                                                      Dec 17, 2014  

Mortgage-backed securities held outright (1)                                                                             1,741,957  
                                                                                                                                    
Commitments to buy mortgage-backed securities (2)                                                                           31,300  
Commitments to sell mortgage-backed securities (2)                                                                               0  
                                                                                                                                    
Cash and cash equivalents (3)                                                                                                   84  



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
Account name                                                                                                            Wednesday   
                                                                                                                      Dec 17, 2014  

Net portfolio holdings of Maiden Lane LLC (1)                                                                                1,678  
                                                                                                                                    
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  
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.

                                                                          






5. Consolidated Statement of Condition of All Federal Reserve Banks
Millions of dollars
Assets, liabilities, and capital                         Eliminations     Wednesday         Change since       
                                                             from       Dec 17, 2014   Wednesday    Wednesday  
                                                        consolidation                Dec 10, 2014 Dec 18, 2013 

Assets                                                                                                         
  Gold certificate account                                                   11,037            0            0  
  Special drawing rights certificate account                                  5,200            0            0  
  Coin                                                                        1,876   +       14   -       88  
  Securities, unamortized premiums and discounts,     
     repurchase agreements, and loans                                     4,431,389   +   12,244   +  494,118  
    Securities held outright (1)                                          4,242,129   +   12,076   +  502,210  
      U.S. Treasury securities                                            2,461,495   -       65   +  264,203  
        Bills (2)                                                                 0            0            0  
        Notes and bonds, nominal (2)                                      2,346,712   -        1   +  254,438  
        Notes and bonds, inflation-indexed (2)                               98,469            0   +    7,090  
        Inflation compensation (3)                                           16,314   -       65   +    2,675  
      Federal agency debt securities (2)                                     38,677            0   -   18,544  
      Mortgage-backed securities (4)                                      1,741,957   +   12,141   +  256,550  
    Unamortized premiums on securities held outright  
    (5)                                                                     207,632   +      159   -    1,250  
    Unamortized discounts on securities held outright 
    (5)                                                                     -18,463   +       35   -    6,752  
    Repurchase agreements (6)                                                     0            0            0  
    Loans                                                                        90   -       27   -       91  
  Net portfolio holdings of Maiden Lane LLC (7)                               1,678   -        3   +      159  
  Net portfolio holdings of Maiden Lane II LLC (8)                                0            0   -       63  
  Net portfolio holdings of Maiden Lane III LLC (8)                               0            0   -       22  
  Net portfolio holdings of TALF LLC (9)                                          0            0   -      109  
  Items in process of collection                                   (0)          101   +       21   +        2  
  Bank premises                                                               2,264   +        1   -       23  
  Central bank liquidity swaps (10)                                               2            0   -      271  
  Foreign currency denominated assets (11)                                   21,463   +       38   -    2,513  
  Other assets (12)                                                          27,237   +    1,067   +    2,994  
                                                                                                               
Total assets                                                       (0)    4,502,247   +   13,382   +  494,185  

Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table.





5. Consolidated Statement of Condition of All Federal Reserve Banks (continued)
Millions of dollars
Assets, liabilities, and capital                         Eliminations     Wednesday         Change since       
                                                             from       Dec 17, 2014   Wednesday    Wednesday  
                                                        consolidation                Dec 10, 2014 Dec 18, 2013 

Liabilities                                                                                                    
  Federal Reserve notes, net of F.R. Bank holdings                         1,282,562   +    5,146   +   93,386 
  Reverse repurchase agreements (13)                                         230,016   -   17,337   +  118,050 
  Deposits                                                          (0)    2,925,476   +   26,007   +  282,395 
    Term deposits held by depository institutions                                  0   -  402,153   -   13,532 
    Other deposits held by depository institutions                         2,739,110   +  310,176   +  273,178 
    U.S. Treasury, General Account                                           171,314   +  122,507   +   54,316 
    Foreign official                                                           5,206   -       46   -    2,767 
    Other (14)                                                      (0)        9,846   -    4,477   -   28,800 
  Deferred availability cash items                                  (0)          635   +       12   -      158 
  Other liabilities and accrued dividends (15)                                 6,443   -      466   -    1,618 
                                                                                                               
Total liabilities                                                   (0)    4,445,131   +   13,361   +  492,054 
                                                                                                               
Capital accounts                                                                                               
  Capital paid in                                                             28,558   +       10   +    1,066 
  Surplus                                                                     28,558   +       10   +    1,066 
  Other capital accounts                                                           0            0            0 
                                                                                                               
Total capital                                                                 57,116   +       21   +    2,132 

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.                      

 



6. Statement of Condition of Each Federal Reserve Bank, December 17, 2014
Millions of dollars
Assets, liabilities, and capital               Total       Boston     New York  Philadelphia  Cleveland    Richmond    Atlanta     Chicago    St. Louis  Minneapolis    Kansas      Dallas       San     
                                                                                                                                                                         City                 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                                             1,876          30          78          124         121         308         207         279          24          44         151         189         322
  Securities, unamortized premiums and      
     discounts, repurchase agreements,      
     and loans                                 4,431,389      89,638   2,719,770      106,160      96,751     247,668     244,968     181,121      54,660      27,201      58,390     135,027     470,034
    Securities held outright (1)               4,242,129      85,811   2,603,664      101,628      92,620     237,095     234,502     173,382      52,324      25,997      55,879     129,259     449,967
      U.S. Treasury securities                 2,461,495      49,792   1,510,776       58,970      53,743     137,575     136,070     100,605      30,361      15,085      32,424      75,002     261,093
        Bills (2)                                      0           0           0            0           0           0           0           0           0           0           0           0           0
        Notes and bonds (3)                    2,461,495      49,792   1,510,776       58,970      53,743     137,575     136,070     100,605      30,361      15,085      32,424      75,002     261,093
      Federal agency debt securities (2)          38,677         782      23,739          927         844       2,162       2,138       1,581         477         237         509       1,178       4,103
      Mortgage-backed securities (4)           1,741,957      35,237   1,069,150       41,732      38,033      97,359      96,294      71,196      21,486      10,675      22,946      53,078     184,771
    Unamortized premiums on securities held 
      outright (5)                               207,632       4,200     127,437        4,974       4,533      11,605      11,478       8,486       2,561       1,272       2,735       6,327      22,024
    Unamortized discounts on securities     
      held outright (5)                          -18,463        -373     -11,332         -442        -403      -1,032      -1,021        -755        -228        -113        -243        -563      -1,958
    Repurchase agreements (6)                          0           0           0            0           0           0           0           0           0           0           0           0           0
    Loans                                             90           1           0            0           0           0           8           8           3          45          20           4           2
  Net portfolio holdings of Maiden                                                                                                                                                                       
     Lane LLC (7)                                  1,678           0       1,678            0           0           0           0           0           0           0           0           0           0
  Net portfolio holdings of Maiden                                                                                                                                                                       
     Lane II LLC (8)                                   0           0           0            0           0           0           0           0           0           0           0           0           0
  Net portfolio holdings of Maiden                                                                                                                                                                       
     Lane III LLC (8)                                  0           0           0            0           0           0           0           0           0           0           0           0           0
  Net portfolio holdings of TALF LLC (9)               0           0           0            0           0           0           0           0           0           0           0           0           0
  Items in process of collection                     101           0           0            0           0           0         100           0           0           1           0           0           0
  Bank premises                                    2,264         124         438           75         110         220         213         199         122          96         242         224         201
  Central bank liquidity swaps (10)                    2           0           1            0           0           0           0           0           0           0           0           0           0
  Foreign currency denominated                                                                                                                                                                           
     assets (11)                                  21,463         976       6,904        1,614       1,707       4,475       1,234         593         180          91         226         359       3,105
  Other assets (12)                               27,237         580      16,371          772         590       1,652       1,485       1,093         380         193         377         936       2,809
  Interdistrict settlement account                     0  +   25,236  -   78,174   -   11,292  +   19,418  -   14,720  -      195  -   11,740  -    7,027  +    2,065  -      973  +   12,878  +   64,526
                                                                                                                                                                                                         
Total assets                                   4,502,247     117,132   2,673,008       98,000     119,397     240,839     250,015     172,675      48,768      29,953      58,857     150,774     542,828

Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table.





6. Statement of Condition of Each Federal Reserve Bank, December 17, 2014 (continued)
Millions of dollars
Assets, liabilities, and capital               Total       Boston     New York  Philadelphia Cleveland    Richmond    Atlanta     Chicago    St. Louis  Minneapolis    Kansas      Dallas       San     
                                                                                                                                                                        City                 Francisco  

Liabilities                                                                                                                                                                                             
  Federal Reserve notes outstanding            1,470,496      45,742     477,500      46,107      68,792     103,294     214,740     101,275      41,227      23,094      38,096     120,058     190,573
    Less: Notes held by F.R. Banks               187,935       5,224      64,266       5,551       8,946      11,984      23,316      11,122       4,937       3,368       5,010      16,970      27,241
      Federal Reserve notes, net               1,282,562      40,518     413,233      40,556      59,846      91,309     191,425      90,153      36,290      19,726      33,085     103,088     163,332
  Reverse repurchase agreements (13)             230,016       4,653     141,175       5,510       5,022      12,856      12,715       9,401       2,837       1,410       3,030       7,009      24,398
  Deposits                                     2,925,476      69,176   2,097,207      48,478      49,809     122,912      41,668      71,252       8,957       8,320      22,003      39,615     346,078
    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                           2,739,110      69,172   1,911,046      48,446      49,805     122,788      41,659      71,239       8,957       8,320      21,999      39,609     346,070
    U.S. Treasury, General Account               171,314           0     171,314           0           0           0           0           0           0           0           0           0           0
    Foreign official                               5,206           2       5,179           3           3           8           2           1           0           0           0           1           6
    Other (14)                                     9,846           2       9,669          30           0         115           6          12           0           0           4           5           2
  Deferred availability cash items                   635           0           0           0           0           0         505           0           0         130           0           0           0
  Interest on Federal Reserve notes due     
     to U.S. Treasury (15)                         1,826          31       1,190          51          41          24         104          79          22           9          22          57         197
  Other liabilities and accrued             
     dividends (16)                                4,616         176       1,786         212         224         632         347         258         132         118         115         185         432
                                                                                                                                                                                                        
Total liabilities                              4,445,131     114,553   2,654,593      94,807     114,941     227,733     246,763     171,144      48,238      29,713      58,256     149,954     534,437
                                                                                                                                                                                                        
Capital                                                                                                                                                                                                 
  Capital paid in                                 28,558       1,290       9,208       1,597       2,228       6,553       1,626         766         265         120         301         410       4,196
  Surplus                                         28,558       1,290       9,208       1,597       2,228       6,553       1,626         766         265         120         301         410       4,196
  Other capital                                        0           0           0           0           0           0           0           0           0           0           0           0           0
                                                                                                                                                                                                        
Total liabilities and capital                  4,502,247     117,132   2,673,008      98,000     119,397     240,839     250,015     172,675      48,768      29,953      58,857     150,774     542,828

Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table.





6. Statement of Condition of Each Federal Reserve Bank, December 17, 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).

                                                                           



7. Collateral Held against Federal Reserve Notes: Federal Reserve Agents' Accounts
Millions of dollars
Federal Reserve notes and collateral                                                        Wednesday   
                                                                                          Dec 17, 2014  

Federal Reserve notes outstanding                                                            1,470,496  
  Less: Notes held by F.R. Banks not subject to collateralization                              187,935  
    Federal Reserve notes to be collateralized                                               1,282,562  
Collateral held against Federal Reserve notes                                                1,282,562  
  Gold certificate account                                                                      11,037  
  Special drawing rights certificate account                                                     5,200  
  U.S. Treasury, agency debt, and mortgage-backed securities pledged (1,2)                   1,266,325  
  Other assets pledged                                                                               0  
Memo:                                                                                                   
Total U.S. Treasury, agency debt, and mortgage-backed securities (1,2)                       4,242,129  
  Less: Face value of securities under reverse repurchase agreements                           211,574  
    U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged        4,030,555  

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.