FEDERAL RESERVE statistical release

H.4.1

Factors Affecting Reserve Balances of Depository Institutions and

Condition Statement of Federal Reserve Banks April 2, 2015

1. Factors Affecting Reserve Balances of Depository Institutions

Millions of dollars

Averages of daily figures

Change from week ended

Reserve Bank credit, related items, and

reserve balances of depository institutions at

Federal Reserve Banks

Week ended

Apr 1, 2015 Mar 25, 2015 Apr 2, 2014

Wednesday

Apr 1, 2015

Reserve Bank credit 4,443,861 - 9,350 + 252,341 4,443,574

Securities held outright1 4,228,393 - 9,445 + 259,461 4,228,384

U.S. Treasury securities 2,459,594 - 116 + 141,112 2,459,578

Bills2 0 0 0 0

Notes and bonds, nominal2 2,346,710 0 + 136,747 2,346,709

Notes and bonds, inflation-indexed2 98,469 0 + 3,904 98,469

Inflation compensation3 14,416 - 115 + 463 14,400

Federal agency debt securities2 36,877 0 - 10,466 36,877

Mortgage-backed securities4 1,731,921 - 9,330 + 128,813 1,731,928

Unamortized premiums on securities held outright5 202,701 - 632 - 7,036 202,565

Unamortized discounts on securities held outright5 -17,965 + 36 - 943 -17,953

Repurchase agreements6 0 0 0 0

Loans 36 + 20 - 66 59

Primary credit 23 + 17 + 15 43

Secondary credit 0 0 0 0

Seasonal credit 14 + 4 + 3 17

Term Asset-Backed Securities Loan Facility7 0 0 - 82 0

Other credit extensions 0 0 0 0

Net portfolio holdings of Maiden Lane LLC8 1,692 0 + 108 1,691

Net portfolio holdings of Maiden Lane II LLC9 0 0 - 63 0

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

Net portfolio holdings of TALF LLC10 0 0 - 105 0

Float -488 - 77 + 104 -487

Central bank liquidity swaps11 810 + 807 + 403 810

Other Federal Reserve assets12 28,682 - 59 + 501 28,505

Foreign currency denominated assets13 19,656 + 61 - 4,371 19,559

Gold stock 11,041 0 0 11,041

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

Treasury currency outstanding14 46,587 + 14 + 838 46,587

Total factors supplying reserve funds 4,526,345 - 9,275 + 248,808 4,525,961

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

Apr 1, 2015 Mar 25, 2015 Apr 2, 2014

Wednesday

Apr 1, 2015

Currency in circulation14 1,357,738 + 1,768 + 89,015 1,359,773

Reverse repurchase agreements15 345,108 + 45,992 + 111,482 353,693

Foreign official and international accounts 147,690 + 6,689 + 50,985 145,815

Others 197,418 + 39,303 + 60,497 207,878

Treasury cash holdings 203 + 6 - 75 245

Deposits with F.R. Banks, other than reserve balances 90,811 - 17,521 - 39,772 80,378

Term deposits held by depository institutions 0 0 - 14,251 0

U.S. Treasury, General Account 75,467 - 10,440 - 20,696 65,529

Foreign official 5,231 - 8 - 1,753 5,241

Other16 10,114 - 7,072 - 3,071 9,609

Other liabilities and capital17 65,140 - 238 + 2,186 64,208

Total factors, other than reserve balances,

absorbing reserve funds 1,859,001 + 30,008 + 162,837 1,858,298

Reserve balances with Federal Reserve Banks 2,667,344 - 39,283 + 85,971 2,667,663

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

Apr 1, 2015 Mar 25, 2015 Apr 2, 2014

Wednesday

Apr 1, 2015

Securities held in custody for foreign official and international

accounts 3,259,491 + 25,622 - 34,541 3,290,959

Marketable U.S. Treasury securities1 2,931,218 + 23,483 - 19,993 2,962,701

Federal agency debt and mortgage-backed securities2 284,685 + 2,207 - 14,533 284,767

Other securities3 43,588 - 68 - 14 43,491

Securities lent to dealers 12,831 + 232 - 1,457 13,382

Overnight facility4 12,831 + 232 - 1,457 13,382

U.S. Treasury securities 12,423 + 253 - 534 12,995

Federal agency debt securities 408 - 21 - 922 387

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, April 1, 2015

Millions of dollars

Remaining Maturity Within 15

days

16 days to

90 days

91 days to

1 year

Over 1 year

to 5 years

Over 5 year

to 10 years

Over 10

years

All

Loans 45 15 0 0 0 ... 59

U.S. Treasury securities1

Holdings 1 1,899 63,822 1,112,868 637,917 643,072 2,459,578

Weekly changes 0 0 + 23,587 - 12,302 - 11,315 - 58 - 88

Federal agency debt securities2

Holdings 982 0 6,638 26,910 0 2,347 36,877

Weekly changes + 982 - 982 0 0 0 0 0

Mortgage-backed securities3

Holdings 0 0 0 15 8,364 1,723,549 1,731,928

Weekly changes 0 0 0 0 + 3 + 17 + 19

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

Central bank liquidity swaps5 810 0 0 0 0 0 810

Reverse repurchase agreements4 353,693 0 ... ... ... ... 353,693

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

Note: Components may not sum to totals because of rounding.

...Not applicable.

1. Face value. For inflation-indexed securities, includes the original face value and compensation that adjusts for the effect of inflation on the

original face value of such securities.

2. Face value.

3. Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. The current face value shown is the remaining principal balance of the securities.

4. Cash value of agreements.

5. Dollar value of foreign currency held under these agreements valued at the exchange rate to be used when the foreign currency is returned to

the foreign central bank. This exchange rate equals the market exchange rate used when the foreign currency was acquired from the foreign

central bank.
H.4.1

3. Supplemental Information on Mortgage-Backed Securities

Millions of dollars

Wednesday Account name Apr 1, 2015

Mortgage-backed securities held outright1 1,731,928

Commitments to buy mortgage-backed securities2 35,083

Commitments to sell mortgage-backed securities2 0

Cash and cash equivalents3 8

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 Apr 1, 2015

Net portfolio holdings of Maiden Lane LLC1 1,691

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 December 31, 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

Apr 1, 2015 Mar 25, 2015 Apr 2, 2014

Assets

Gold certificate account 11,037 0 0

Special drawing rights certificate account 5,200 0 0

Coin 1,832 - 7 - 107

Securities, unamortized premiums and discounts,

repurchase agreements, and loans 4,413,055 - 362 + 249,363

Securities held outright1 4,228,384 - 68 + 257,280

U.S. Treasury securities 2,459,578 - 88 + 138,925

Bills2 0 0 0

Notes and bonds, nominal2 2,346,709 - 1 + 134,609

Notes and bonds, inflation-indexed2 98,469 0 + 3,904

Inflation compensation3 14,400 - 87 + 413

Federal agency debt securities2 36,877 0 - 10,466

Mortgage-backed securities4 1,731,928 + 19 + 128,820

Unamortized premiums on securities held outright5 202,565 - 370 - 7,083

Unamortized discounts on securities held outright5 -17,953 + 31 - 796

Repurchase agreements6 0 0 0

Loans 59 + 44 - 38

Net portfolio holdings of Maiden Lane LLC7 1,691 - 1 + 107

Net portfolio holdings of Maiden Lane II LLC8 0 0 - 63

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

Net portfolio holdings of TALF LLC9 0 0 - 105

Items in process of collection (0) 110 - 72 - 15

Bank premises 2,241 - 7 - 28

Central bank liquidity swaps10 810 + 807 + 403

Foreign currency denominated assets11 19,559 - 253 - 4,454

Other assets12 26,264 + 1,090 + 279

Total assets (0) 4,481,799 + 1,196 + 245,358

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

Apr 1, 2015 Mar 25, 2015 Apr 2, 2014

Liabilities

Federal Reserve notes, net of F.R. Bank holdings 1,315,259 + 2,345 + 88,309

Reverse repurchase agreements13 353,693 + 74,846 + 156,493

Deposits (0) 2,748,042 - 75,794 - 1,408

Term deposits held by depository institutions 0 0 - 14,251

Other deposits held by depository institutions 2,667,663 - 70,139 + 55,895

U.S. Treasury, General Account 65,529 - 5,796 - 41,670

Foreign official 5,241 + 16 - 1,739

Other14 (0) 9,609 + 125 + 357

Deferred availability cash items (0) 598 - 147 - 236

Other liabilities and accrued dividends15 6,553 - 95 + 646

Total liabilities (0) 4,424,144 + 1,155 + 243,803

Capital accounts

Capital paid in 28,828 + 21 + 778

Surplus 28,828 + 21 + 778

Other capital accounts 0 0 0

Total capital 57,656 + 42 + 1,556

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, April 1, 2015

Millions of dollars

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

Assets

Gold certificate account 11,037 352 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 1,832 42 70 128 116 301 186 271 24 44 150 181 319

Securities, unamortized premiums and

discounts, repurchase agreements,

and loans 4,413,055 89,269 2,708,536 105,722 96,351 246,645 243,950 180,399 54,431 27,054 58,132 134,465 468,101

Securities held outright1 4,228,384 85,533 2,595,228 101,299 92,320 236,327 233,743 172,820 52,154 25,913 55,698 128,840 448,509

U.S. Treasury securities 2,459,578 49,753 1,509,600 58,924 53,701 137,468 135,964 100,526 30,337 15,073 32,398 74,944 260,890

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

Notes and bonds3 2,459,578 49,753 1,509,600 58,924 53,701 137,468 135,964 100,526 30,337 15,073 32,398 74,944 260,890

Federal agency debt securities2 36,877 746 22,634 883 805 2,061 2,039 1,507 455 226 486 1,124 3,912

Mortgage-backed securities4 1,731,928 35,034 1,062,995 41,492 37,814 96,799 95,740 70,786 21,362 10,614 22,814 52,772 183,707

Unamortized premiums on securities 

held outright5 202,565 4,098 124,327 4,853 4,423 11,321 11,198 8,279 2,498 1,241 2,668 6,172 21,486

Unamortized discounts on securities 

held outright5 -17,953 -363 -11,019 -430 -392 -1,003 -992 -734 -221 -110 -236 -547 -1,904

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

Loans 59 2 0 0 0 0 2 33 0 10 2 0 10

Net portfolio holdings of Maiden

Lane LLC7 1,691 0 1,691 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 110 0 0 0 0 0 110 0 0 0 0 0 0

Bank premises 2,241 124 430 74 109 218 210 201 120 95 240 221 199

Central bank liquidity swaps10 810 37 261 45 63 186 46 22 8 3 9 12 119

Foreign currency denominated

assets11 19,559 887 6,307 1,093 1,525 4,488 1,113 525 182 82 206 282 2,872

Other assets12 26,264 574 15,535 638 587 1,633 1,478 1,083 546 194 381 819 2,795

Interdistrict settlement account 0 + 37,487 - 280,682 + 16,078 + 40,878 + 22,897 + 10,436 - 2,727 + 406 + 7,823 + 10,119 + 30,639 + 106,644

Total assets 4,481,799 128,967 2,458,092 124,326 140,330 277,605 259,532 180,904 56,146 35,560 69,679 167,781 582,879

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, April 1, 2015 (continued)

Millions of dollars

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

Liabilities

Federal Reserve notes outstanding 1,497,639 50,781 474,464 49,944 73,390 104,944 210,532 106,466 45,083 26,968 42,369 121,656 191,043

Less: Notes held by F.R. Banks 182,380 5,251 62,994 5,549 9,736 12,217 22,812 11,858 5,189 3,289 5,074 14,022 24,390

Federal Reserve notes, net 1,315,259 45,530 411,470 44,395 63,654 92,727 187,720 94,608 39,895 23,678 37,295 107,634 166,653

Reverse repurchase agreements13 353,693 7,155 217,084 8,473 7,722 19,768 19,552 14,456 4,363 2,168 4,659 10,777 37,517

Deposits 2,748,042 73,536 1,807,270 68,025 64,263 151,447 48,106 69,957 11,195 9,202 26,987 48,291 369,762

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 2,667,663 73,530 1,727,205 67,997 64,260 151,198 48,095 69,953 11,195 9,202 26,986 48,290 369,753

U.S. Treasury, General Account 65,529 0 65,529 0 0 0 0 0 0 0 0 0 0

Foreign official 5,241 2 5,214 2 3 9 2 1 0 0 0 1 6

Other14 9,609 4 9,322 25 0 240 9 2 0 0 1 1 4

Deferred availability cash items 598 0 0 0 0 0 470 0 0 128 0 0 0

Interest on Federal Reserve notes due

to U.S. Treasury15 1,564 23 1,082 23 4 26 101 64 22 5 20 56 138

Other liabilities and accrued

dividends16 4,988 141 2,475 189 208 506 315 249 128 128 114 175 362

Total liabilities 4,424,144 126,384 2,439,381 121,105 135,851 264,474 256,264 179,334 55,602 35,308 69,075 166,934 574,432

Capital

Capital paid in 28,828 1,292 9,356 1,611 2,239 6,565 1,634 785 272 126 302 423 4,223

Surplus 28,828 1,292 9,356 1,611 2,239 6,565 1,634 785 272 126 302 423 4,223

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

Total liabilities and capital 4,481,799 128,967 2,458,092 124,326 140,330 277,605 259,532 180,904 56,146 35,560 69,679 167,781 582,879

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, April 1, 2015 (continued)

1. Includes securities lent to dealers under the overnight securities lending facility; refer to table 1A.

2. Face value of the securities.

3. Includes the original face value of inflation-indexed securities and compensation that adjusts for the effect of inflation on the original face value of such securities.

4. Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. The current face value shown is the remaining principal balance of the securities.

5. Reflects the premium or discount, which is the difference between the purchase price and the face value of the securities that has not been amortized. For U.S. Treasury and Federal agency debt

securities, amortization is on a straight-line basis. For mortgage-backed securities, amortization is on an effective-interest basis.

6. Cash value of agreements, which are collateralized by U.S. Treasury and federal agency securities.

7. Refer to table 4 and the note on consolidation below.

8. Fair value. Fair value reflects an estimate of the price that would be received upon selling an asset if the transaction were to be conducted in an orderly market on the measurement date. Refer to

the note on consolidation below.

9. Refer to the note on consolidation below.

10. Dollar value of foreign currency held under these agreements valued at the exchange rate to be used when the foreign currency is returned to the foreign central bank. This exchange rate

equals the market exchange rate used when the foreign currency was acquired from the foreign central bank.

11. Revalued daily at current foreign currency exchange rates.

12. Includes accrued interest, which represents the daily accumulation of interest earned, and other accounts receivable.

13. Cash value of agreements, which are collateralized by U.S. Treasury securities, federal agency debt securities, and mortgage-backed securities.

14. Includes deposits held at the Reserve Banks by international and multilateral organizations, government-sponsored enterprises, and designated financial market utilities.

15. Represents the estimated weekly remittances to U.S. Treasury as interest on Federal Reserve notes or, in those cases where the Reserve Bank’s net earnings are not sufficient to equate surplus

to capital paid-in, the deferred asset for interest on Federal Reserve notes. The amount of any deferred asset, which is presented as a negative amount in this line, represents the amount of the

Federal Reserve Bank’s earnings that must be retained before remittances to the U.S. Treasury resume. The amounts on this line are calculated in accordance with Board of Governors policy,

which requires the Federal Reserve Banks to remit residual earnings to the U.S. Treasury as interest on Federal Reserve notes after providing for the costs of operations, payment of dividends,

and the amount necessary to equate surplus with capital paid-in.

Note on consolidation:

The Federal Reserve Bank of New York (FRBNY) extended loans to several limited liability companies under the authority of section 13(3) of the Federal Reserve Act. On June 26, 2008, a loan was

extended to Maiden Lane LLC, which was formed to acquire certain assets of Bear Stearns. On June 14, 2012, the remaining outstanding balance of the senior loan from FRBNY to Maiden Lane

LLC was repaid in full, with interest. On November 15, 2012, the remaining outstanding balance of the subordinated loan from JPMorgan Chase & Co. to Maiden Lane LLC was repaid in full, with

interest. On November 25, 2008, a loan was extended to Maiden Lane III LLC, which was formed to purchase multi-sector collateralized debt obligations on which the Financial Products group of the

American International Group, Inc. had written credit default swap contracts. On June 14, 2012, the loan from FRBNY to Maiden Lane III was repaid in full, with interest. On December 12, 2008, a

loan was extended to Maiden Lane II LLC, which was formed to purchase residential mortgage-backed securities from the U.S. securities lending reinvestment portfolio of subsidiaries of American

International Group, Inc. On March 1, 2012, the loan from FRBNY to Maiden Lane II was repaid in full, with interest. On November 25, 2008, the Federal Reserve Board authorized the FRBNY to

extend credit to TALF LLC, which was formed to purchase and manage any asset-backed securities received by the FRBNY in connection with the decision of a borrower not to repay a loan

extended under the Term Asset-Backed Securities Loan Facility. On January 15, 2013 the FRBNY’s commitment to extend credit to TALF LLC was eliminated.

The FRBNY was the primary beneficiary of TALF LLC, because of the two beneficiaries of the LLC, the FRBNY and the U.S. Treasury, the FRBNY was primarily responsible for directing the financial activities of

TALF LLC. The FRBNY was the primary beneficiary of the other LLCs cited above because it received a majority of any residual returns of the LLCs and absorbed a majority of any residual losses of the LLCs.

Consistent with generally accepted accounting principles, the assets and liabilities of these LLCs were consolidated with the assets and liabilities of the FRBNY in the preparation of the statements of condition

shown on this release. As a consequence of the consolidation, the extensions of credit from the FRBNY to the LLCs were eliminated, the net assets of the LLCs appeared as assets on the previous page (and in

table 1 and table 5), and the liabilities of the LLCs to entities other than the FRBNY, including those with recourse only to the portfolio holdings of the LLCs, were included in other liabilities in this table (and table

1 and table 5).
H.4.1

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

Millions of dollars

Wednesday Federal Reserve notes and collateral Apr 1, 2015

Federal Reserve notes outstanding 1,497,639

Less: Notes held by F.R. Banks not subject to collateralization 182,380

Federal Reserve notes to be collateralized 1,315,259

Collateral held against Federal Reserve notes 1,315,259

Gold certificate account 11,037

Special drawing rights certificate account 5,200

U.S. Treasury, agency debt, and mortgage-backed securities pledged1,2 1,299,022

Other assets pledged 0

Memo:

Total U.S. Treasury, agency debt, and mortgage-backed securities1,2 4,228,384

Less: Face value of securities under reverse repurchase agreements 327,455

U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 3,900,929

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.