FEDERAL RESERVE statistical release

H.4.1

Factors Affecting Reserve Balances of Depository Institutions and

Condition Statement of Federal Reserve Banks November 28, 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 26, 2014 Nov 19, 2014 Nov 27, 2013

Wednesday

Nov 26, 2014

Reserve Bank credit 4,453,580 - 8,752 + 571,378 4,445,550

Securities held outright1 4,237,173 - 675 + 576,589 4,230,112

U.S. Treasury securities 2,461,635 + 21 + 303,170 2,461,645

Bills2 0 0 0 0

Notes and bonds, nominal2 2,346,713 0 + 291,959 2,346,713

Notes and bonds, inflation-indexed2 98,469 0 + 8,490 98,469

Inflation compensation3 16,453 + 20 + 2,722 16,463

Federal agency debt securities2 38,677 - 1,023 - 19,695 38,677

Mortgage-backed securities4 1,736,861 + 328 + 293,114 1,729,790

Unamortized premiums on securities held outright5 208,523 - 303 + 674 208,133

Unamortized discounts on securities held outright5 -18,574 + 36 - 8,585 -18,555

Repurchase agreements6 0 0 0 0

Loans 121 - 8 - 56 111

Primary credit 10 - 5 - 2 3

Secondary credit 0 0 0 0

Seasonal credit 111 - 3 + 44 108

Term Asset-Backed Securities Loan Facility7 0 0 - 98 0

Other credit extensions 0 0 0 0

Net portfolio holdings of Maiden Lane LLC8 1,681 + 2 + 164 1,681

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 - 110 0

Float -567 + 45 + 9 -647

Central bank liquidity swaps11 1 + 1 - 271 1

Other Federal Reserve assets12 25,223 - 7,849 + 3,050 24,714

Foreign currency denominated assets13 21,483 - 147 - 2,390 21,568

Gold stock 11,041 0 0 11,041

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

Treasury currency outstanding14 46,272 + 14 + 805 46,272

Total factors supplying reserve funds 4,537,576 - 8,886 + 569,793 4,529,631

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 26, 2014 Nov 19, 2014 Nov 27, 2013

Wednesday

Nov 26, 2014

Currency in circulation14 1,313,124 + 1,365 + 90,951 1,317,441

Reverse repurchase agreements15 254,823 + 32,113 + 150,663 251,473

Foreign official and international accounts 100,685 - 559 + 617 103,189

Others 154,138 + 32,672 + 150,046 148,284

Treasury cash holdings 185 - 8 - 30 189

Deposits with F.R. Banks, other than reserve balances 418,850 - 7,867 + 308,671 418,089

Term deposits held by depository institutions 318,691 + 10,968 + 305,159 334,714

U.S. Treasury, General Account 79,769 - 15,512 + 26,025 71,901

Foreign official 5,254 - 7 - 3,482 5,250

Other16 15,136 - 3,316 - 19,031 6,224

Other liabilities and capital17 64,021 - 890 - 251 63,145

Total factors, other than reserve balances,

absorbing reserve funds 2,051,002 + 24,711 + 550,003 2,050,337

Reserve balances with Federal Reserve Banks 2,486,574 - 33,597 + 19,789 2,479,295

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 26, 2014 Nov 19, 2014 Nov 27, 2013

Wednesday

Nov 26, 2014

Securities held in custody for foreign official and international

accounts 3,313,943 + 6,330 - 35,376 3,309,745

Marketable U.S. Treasury securities1 2,972,281 - 8,905 - 14,326 2,967,578

Federal agency debt and mortgage-backed securities2 299,626 + 15,012 - 20,001 299,482

Other securities3 42,036 + 223 - 1,049 42,684

Securities lent to dealers 9,645 + 112 - 2,446 8,183

Overnight facility4 9,645 + 112 - 2,446 8,183

U.S. Treasury securities 8,925 + 82 - 2,031 7,540

Federal agency debt securities 720 + 30 - 415 643

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 26, 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 111 0 0 0 0 ... 111

U.S. Treasury securities1

Holdings 0 4 3,517 1,098,900 700,729 658,495 2,461,645

Weekly changes 0 0 0 + 3 + 3 + 17 + 23

Federal agency debt securities2

Holdings 0 1,800 3,933 30,597 0 2,347 38,677

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

Mortgage-backed securities3

Holdings 0 0 0 11 5,568 1,724,210 1,729,790

Weekly changes 0 0 0 - 1 - 91 - 5,007 - 5,099

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

Central bank liquidity swaps5 1 0 0 0 0 0 1

Reverse repurchase agreements4 251,473 0 ... ... ... ... 251,473

Term deposits 334,714 0 0 ... ... ... 334,714

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 26, 2014

Mortgage-backed securities held outright1 1,729,790

Commitments to buy mortgage-backed securities2 34,856

Commitments to sell mortgage-backed securities2 0

Cash and cash equivalents3 38

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 26, 2014

Net portfolio holdings of Maiden Lane LLC1 1,681

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 26, 2014 Nov 19, 2014 Nov 27, 2013

Assets

Gold certificate account 11,037 0 0

Special drawing rights certificate account 5,200 0 0

Coin 1,841 - 18 - 85

Securities, unamortized premiums and discounts,

repurchase agreements, and loans 4,419,801 - 6,600 + 560,265

Securities held outright1 4,230,112 - 6,098 + 568,220

U.S. Treasury securities 2,461,645 + 23 + 297,979

Bills2 0 0 0

Notes and bonds, nominal2 2,346,713 0 + 286,771

Notes and bonds, inflation-indexed2 98,469 0 + 8,490

Inflation compensation3 16,463 + 23 + 2,718

Federal agency debt securities2 38,677 - 1,023 - 19,695

Mortgage-backed securities4 1,729,790 - 5,099 + 289,936

Unamortized premiums on securities held outright5 208,133 - 523 + 447

Unamortized discounts on securities held outright5 -18,555 + 42 - 8,341

Repurchase agreements6 0 0 0

Loans 111 - 20 - 61

Net portfolio holdings of Maiden Lane LLC7 1,681 0 + 164

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 - 110

Items in process of collection (0) 88 - 3 - 1

Bank premises 2,265 0 - 29

Central bank liquidity swaps10 1 + 1 - 271

Foreign currency denominated assets11 21,568 - 41 - 2,276

Other assets12 22,449 - 168 + 2,483

Total assets (0) 4,485,931 - 6,828 + 560,055

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 26, 2014 Nov 19, 2014 Nov 27, 2013

Liabilities

Federal Reserve notes, net of F.R. Bank holdings 1,273,194 + 5,482 + 89,201

Reverse repurchase agreements13 251,473 - 15,527 + 143,734

Deposits (0) 2,897,384 + 3,046 + 327,480

Term deposits held by depository institutions 334,714 + 26,991 + 321,182

Other deposits held by depository institutions 2,479,295 - 7,019 - 9,092

U.S. Treasury, General Account 71,901 - 7,733 + 26,468

Foreign official 5,250 - 54 - 3,490

Other14 (0) 6,224 - 9,139 - 7,589

Deferred availability cash items (0) 735 + 57 - 4

Other liabilities and accrued dividends15 6,561 + 95 - 1,976

Total liabilities (0) 4,429,346 - 6,847 + 558,434

Capital accounts

Capital paid in 28,292 + 9 + 810

Surplus 28,292 + 9 + 810

Other capital accounts 0 0 0

Total capital 56,585 + 19 + 1,621

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 26, 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 1,841 29 76 124 115 306 207 271 23 43 148 173 325

Securities, unamortized premiums and

discounts, repurchase agreements,

and loans 4,419,801 89,403 2,712,645 105,882 96,497 247,019 244,328 180,650 54,516 27,144 58,240 134,676 468,801

Securities held outright1 4,230,112 85,568 2,596,289 101,341 92,358 236,424 233,838 172,891 52,176 25,924 55,720 128,893 448,692

U.S. Treasury securities 2,461,645 49,795 1,510,868 58,974 53,746 137,583 136,078 100,611 30,363 15,086 32,426 75,007 261,109

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

Notes and bonds3 2,461,645 49,795 1,510,868 58,974 53,746 137,583 136,078 100,611 30,363 15,086 32,426 75,007 261,109

Federal agency debt securities2 38,677 782 23,739 927 844 2,162 2,138 1,581 477 237 509 1,178 4,103

Mortgage-backed securities4 1,729,790 34,991 1,061,682 41,441 37,767 96,679 95,622 70,699 21,336 10,601 22,785 52,707 183,481

Unamortized premiums on securities 

held outright5 208,133 4,210 127,745 4,986 4,544 11,633 11,505 8,507 2,567 1,276 2,742 6,342 22,077

Unamortized discounts on securities 

held outright5 -18,555 -375 -11,389 -445 -405 -1,037 -1,026 -758 -229 -114 -244 -565 -1,968

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

Loans 111 0 0 0 0 0 10 11 2 59 22 7 0

Net portfolio holdings of Maiden

Lane LLC7 1,681 0 1,681 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 88 0 0 0 0 0 86 0 0 1 0 0 0

Bank premises 2,265 122 440 75 111 220 212 199 123 96 242 224 201

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

Foreign currency denominated

assets11 21,568 981 6,939 1,621 1,715 4,497 1,240 595 181 91 227 361 3,121

Other assets12 22,449 477 13,432 659 484 1,404 1,218 903 322 162 312 781 2,296

Interdistrict settlement account 0 + 26,211 - 112,129 - 445 + 21,097 - 1,161 + 4,282 - 6,524 - 6,123 + 1,560 - 918 + 14,896 + 59,255

Total assets 4,485,931 117,770 2,629,027 108,464 120,719 253,521 253,576 177,224 49,470 29,361 58,695 152,273 535,831

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 26, 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 1,461,313 44,602 478,532 45,434 68,405 103,159 214,170 99,932 40,526 21,857 37,241 119,685 187,770

Less: Notes held by F.R. Banks 188,119 5,002 66,497 5,314 8,503 11,362 22,343 10,097 4,840 3,501 5,098 18,812 26,750

Federal Reserve notes, net 1,273,194 39,601 412,035 40,120 59,902 91,797 191,827 89,834 35,686 18,356 32,144 100,873 161,019

Reverse repurchase agreements13 251,473 5,087 154,345 6,025 5,491 14,055 13,901 10,278 3,102 1,541 3,312 7,662 26,674

Deposits 2,897,384 70,291 2,041,459 58,862 50,602 134,314 43,545 75,214 9,981 8,922 22,485 42,656 339,053

Term deposits held by depository

institutions 334,714 91 232,910 30,338 9,450 10,026 840 18,190 428 181 3,857 3,605 24,799

Other deposits held by depository

institutions 2,479,295 70,193 1,725,433 28,494 41,149 124,107 42,696 57,010 9,553 8,741 18,626 39,048 314,246

U.S. Treasury, General Account 71,901 0 71,901 0 0 0 0 0 0 0 0 0 0

Foreign official 5,250 2 5,222 3 3 8 2 1 0 0 0 1 6

Other14 6,224 5 5,993 28 0 173 7 13 0 0 1 2 2

Deferred availability cash items 735 0 0 0 0 0 565 0 0 169 0 0 0

Interest on Federal Reserve notes due

to U.S. Treasury15 2,042 27 1,279 47 41 103 119 88 26 14 23 62 213

Other liabilities and accrued

dividends16 4,519 186 1,514 216 235 647 366 281 146 118 130 200 480

Total liabilities 4,429,346 115,191 2,610,631 105,270 116,270 240,917 250,324 175,696 48,940 29,120 58,094 151,454 527,440

Capital

Capital paid in 28,292 1,289 9,198 1,597 2,224 6,302 1,626 764 265 120 300 410 4,196

Surplus 28,292 1,289 9,198 1,597 2,224 6,302 1,626 764 265 120 300 410 4,196

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

Total liabilities and capital 4,485,931 117,770 2,629,027 108,464 120,719 253,521 253,576 177,224 49,470 29,361 58,695 152,273 535,831

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 26, 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 26, 2014

Federal Reserve notes outstanding 1,461,313

Less: Notes held by F.R. Banks not subject to collateralization 188,119

Federal Reserve notes to be collateralized 1,273,194

Collateral held against Federal Reserve notes 1,273,194

Gold certificate account 11,037

Special drawing rights certificate account 5,200

U.S. Treasury, agency debt, and mortgage-backed securities pledged1,2 1,256,957

Other assets pledged 0

Memo:

Total U.S. Treasury, agency debt, and mortgage-backed securities1,2 4,230,112

Less: Face value of securities under reverse repurchase agreements 234,745

U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 3,995,367

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.