FEDERAL RESERVE statistical release

H.4.1

Factors Affecting Reserve Balances of Depository Institutions and

Condition Statement of Federal Reserve Banks December 15, 2011

1. Factors Affecting Reserve Balances of Depository Institutions

Millions of dollars

Averages of daily figures Wednesday

Dec 14, 2011 Week ended

Dec 14, 2011

Change from week ended

 Dec 7, 2011 Dec 15, 2010

Reserve Bank credit, related items, and

reserve balances of depository institutions at

Federal Reserve Banks

Reserve Bank credit 2,867,116 + 69,165 + 492,827 2,885,108

Securities held outright1 2,617,595 + 12,986 + 487,982 2,637,462

U.S. Treasury securities 1,671,531 - 118 + 710,735 1,673,475

Bills2 18,423 0 0 18,423

Notes and bonds, nominal2 1,576,032 + 1,035 + 686,205 1,576,894

Notes and bonds, inflation-indexed2 67,484 - 936 + 20,978 68,468

Inflation compensation3 9,593 - 216 + 3,552 9,690

Federal agency debt securities2 105,909 0 - 42,227 105,909

Mortgage-backed securities4 840,154 + 13,102 - 180,527 858,078

Repurchase agreements5 0 0 0 0

Loans 9,981 + 281 - 35,235 9,588

Primary credit 393 + 380 + 371 42

Secondary credit 0 0 0 0

Seasonal credit 24 + 5 - 4 24

Credit extended to American International

Group, Inc., net6 0 0 - 20,080 0

Term Asset-Backed Securities Loan Facility7 9,563 - 104 - 15,524 9,522

Other credit extensions 0 0 0 0

Net portfolio holdings of Maiden Lane LLC8 10,136 - 492 - 17,289 7,211

Net portfolio holdings of Maiden Lane II LLC9 9,236 - 20 - 6,887 9,239

Net portfolio holdings of Maiden Lane III LLC10 17,900 + 43 - 5,199 17,719

Net portfolio holdings of TALF LLC11 803 0 + 156 803

Preferred interests in AIA Aurora LLC and ALICO

Holdings LLC6 0 0 - 26,057 0

Float -917 - 13 + 817 -1,015

Central bank liquidity swaps12 54,335 + 52,034 + 54,275 54,335

Other Federal Reserve assets13 148,047 + 4,345 + 40,264 149,767

Gold stock 11,041 0 0 11,041

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

Treasury currency outstanding14 44,222 + 14 + 690 44,222

Total factors supplying reserve funds 2,927,579 + 69,179 + 493,517 2,945,571

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 Wednesday

Dec 14, 2011 Week ended

Dec 14, 2011

Change from week ended

 Dec 7, 2011 Dec 15, 2010

Reserve Bank credit, related items, and

reserve balances of depository institutions at

Federal Reserve Banks

Currency in circulation14 1,064,370 + 3,091 + 85,954 1,066,459

Reverse repurchase agreements15 84,755 - 2,079 + 34,701 82,472

Foreign official and international accounts 84,755 - 2,079 + 34,701 82,472

Others 0 0 0 0

Treasury cash holdings 114 + 6 - 70 116

Deposits with F.R. Banks, other than reserve balances 103,588 + 11,925 - 147,454 112,170

Term deposits held by depository institutions 5,055 0 - 58 5,055

U.S. Treasury, General Account 21,484 - 6,798 - 8,609 25,651

U.S. Treasury, Supplementary Financing Account 0 0 - 199,961 0

Foreign official 209 + 84 - 2,887 700

Service-related 2,498 - 1 + 139 2,498

Required clearing balances 2,498 - 1 + 139 2,498

Adjustments to compensate for float 0 0 0 0

Other 74,342 + 18,640 + 63,922 78,267

Funds from American International Group, Inc. asset

dispositions, held as agent6 0 0 - 26,774 0

Other liabilities and capital16 73,174 + 1,348 - 670 71,684

Total factors, other than reserve balances,

absorbing reserve funds 1,326,001 + 14,292 - 54,314 1,332,901

Reserve balances with Federal Reserve Banks 1,601,578 + 54,887 + 547,830 1,612,669

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. Current face value of the securities, which is the remaining principal balance of

the underlying mortgages.

5. Cash value of agreements.

6. As a result of the closing of the American International Group, Inc. (AIG) recapitalization plan on January 14, 2011, the credit extended to AIG

was fully repaid and the Federal Reserve’s commitment to lend any further funds was terminated. In addition, the Federal Reserve Bank of

New York (FRBNY) has been paid in full for its preferred interests in AIA Aurora LLC and ALICO Holdings LLC. The funds from AIG asset

dispositions that FRBNY held as agent were the source of repayment of the credit extended to AIG, as well as a portion of the

FRBNY’s preferred interests in ALICO Holdings LLC. The remaining FRBNY preferred interests in ALICO Holdings LLC and AIA Aurora

LLC, valued at approximately $20 billion, were purchased by AIG through a draw on the Treasury’s Series F preferred stock commitment

and then transferred by AIG to the Treasury as consideration for the draw on the available Series F funds.

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 9.

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

10.Refer to table 6 and the note on consolidation accompanying table 9.

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

12.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.

13.Includes other assets denominated in foreign currencies, which are revalued daily at market exchange rates, and the fair value adjustment

to credit extended by the FRBNY to eligible borrowers through the Term Asset-Backed Securities Loan Facility. Before the closing of the

AIG recapitalization plan on January 14, 2011, included accrued dividends on the FRBNY’s preferred interests in AIA Aurora LLC and ALICO

Holdings LLC.

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 the liabilities of Maiden Lane LLC, Maiden Lane II LLC, Maiden Lane III LLC, and TALF LLC to entities other than the Federal Reserve

Bank of New York, including liabilities that have recourse only to the portfolio holdings of these LLCs. Refer to table 4 through table 7 and the note

on consolidation accompanying table 9. Also includes the liability for interest on Federal Reserve notes due to U.S. Treasury. Refer to table 8

and table 9.

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 Wednesday

Dec 14, 2011 Week ended

Dec 14, 2011

Change from week ended

 Dec 7, 2011 Dec 15, 2010

Memorandum item

Marketable securities held in custody for foreign

official and international accounts1 3,442,669 - 12,282 + 105,626 3,435,368

U.S. Treasury securities 2,723,189 - 14,265 + 116,420 2,713,972

Federal agency securities2 719,481 + 1,984 - 10,793 721,396

Securities lent to dealers 11,831 - 2,335 + 2,415 13,035

Overnight facility3 11,831 - 2,335 + 2,415 13,035

U.S. Treasury securities 10,666 - 2,085 + 2,335 11,857

Federal agency debt securities 1,164 - 252 + 79 1,178

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

1. Face value of the securities. Includes U.S. Treasury STRIPS and other zero-coupon bonds at face value and mortgage-backed securities at original

face value.

2. Includes debt and mortgage-backed securities.

3. Fully collateralized by U.S. Treasury securities.

2. Maturity Distribution of Securities, Loans, and Selected Other Assets and Liabilities, December 14, 2011

Millions of dollars

Within 15

days

16 days to

90 days

91 days to

1 year

Over 1 year

to 5 years

Over 5 years

to 10 years

Over 10

years

Remaining maturity All

Loans1 44 22 4,334 5,188 0 ... 9,588

U.S. Treasury securities2

Holdings 18,420 22,766 94,393 672,064 640,704 225,128 1,673,475

Weekly changes + 3,867 - 3,867 - 9,801 - 392 + 4,654 + 3,979 - 1,559

Federal agency debt securities3

Holdings 1,915 4,191 20,520 60,790 16,146 2,347 105,909

Weekly changes + 702 - 702 0 0 0 0 0

Mortgage-backed securities4

Holdings 0 0 0 11 23 858,043 858,078

Weekly changes 0 0 0 0 0 + 31,027 + 31,026

Asset-backed securities held by

TALF LLC5 0 0 0 0 0 0 0

Repurchase agreements6 0 0 ... ... ... ... 0

Central bank liquidity swaps7 1,627 52,708 0 0 0 0 54,335

Reverse repurchase agreements6 82,472 0 ... ... ... ... 82,472

Term deposits 5,055 0 0 ... ... ... 5,055

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

. . . Not applicable.

1. Excludes the loans from the Federal Reserve Bank of New York (FRBNY) to Maiden Lane LLC, Maiden Lane II LLC, Maiden

Lane III LLC, and TALF LLC. The loans were eliminated when preparing the FRBNY’s statement of condition consistent with consolidation

under generally accepted accounting principles.

2. 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.

3. Face value.

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

underlying mortgages.

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

6. Cash value of agreements.

7. 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

Dec 14, 2011 Account name

Mortgage-backed securities held outright1 858,078

Commitments to buy mortgage-backed securities2 33,416

Commitments to sell mortgage-backed securities2 4,750

Cash and cash equivalents3 100

1. Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. Current face value of the securities, which is the remaining principal balance of the

underlying mortgages.

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 8 and table 9.

4. Information on Principal Accounts of Maiden Lane LLC

Millions of dollars

Wednesday

Dec 14, 2011 Account name

Net portfolio holdings of Maiden Lane LLC1 7,211

Outstanding principal amount of loan extended by the Federal Reserve Bank of New York2 4,104

Accrued interest payable to the Federal Reserve Bank of New York2 754

Outstanding principal amount and accrued interest on loan payable to JPMorgan Chase & Co.3 1,382

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, 2011. 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 9.

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 8 and table 9.

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. Payments by Maiden Lane LLC from

the proceeds of the net portfolio holdings will be made in the following order: operating expenses of the LLC, principal due to the FRBNY, interest

due to the FRBNY, principal due to JPMorgan Chase & Co., and interest due to JPMorgan Chase & Co. Any remaining funds will be paid to the

FRBNY.

5. Information on Principal Accounts of Maiden Lane II LLC

Millions of dollars

Wednesday

Dec 14, 2011 Account name

Net portfolio holdings of Maiden Lane II LLC1 9,239

Outstanding principal amount of loan extended by the Federal Reserve Bank of New York2 6,223

Accrued interest payable to the Federal Reserve Bank of New York2 565

Deferred payment and accrued interest payable to subsidiaries of American International Group, Inc.3 1,104

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, 2011. 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 9.

3. Book value. The deferred payment represents the portion of the proceeds of the net portfolio holdings due to subsidiaries of American

International Group, Inc. in accordance with the asset purchase agreement. The fair value of this payment and accrued interest payable are

included in other liabilities and capital in table 1 and in other liabilities and accrued dividends in table 8 and table 9.

Note: On December 12, 2008, the Federal Reserve Bank of New York (FRBNY) began extending credit to Maiden Lane II LLC under the authority

of section 13(3) of the Federal Reserve Act. This limited liability company was formed to purchase residential mortgage-backed securities from the

U.S. securities lending reinvestment portfolio of subsidiaries of American International Group, Inc. (AIG subsidiaries). Payments by Maiden Lane II

LLC from the proceeds of the net portfolio holdings will be made in the following order: operating expenses of Maiden Lane II LLC, principal due to

the FRBNY, interest due to the FRBNY, and deferred payment and interest due to AIG subsidiaries. Any remaining funds will be shared by the

FRBNY and AIG subsidiaries.
H.4.1

6. Information on Principal Accounts of Maiden Lane III LLC

Millions of dollars

Wednesday

Dec 14, 2011 Account name

Net portfolio holdings of Maiden Lane III LLC1 17,719

Outstanding principal amount of loan extended by the Federal Reserve Bank of New York2 9,134

Accrued interest payable to the Federal Reserve Bank of New York2 686

Outstanding principal amount and accrued interest on loan payable to American International Group, Inc.3 5,533

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, 2011. 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 9.

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 8 and table 9.

Note: On November 25, 2008, the Federal Reserve Bank of New York (FRBNY) began extending credit to Maiden Lane III LLC under the authority

of section 13(3) of the Federal Reserve Act. This limited liability company was formed to purchase multi-sector collateralized debt obligations

(CDOs) on which the Financial Products group of American International Group, Inc. (AIG) has written credit default swap (CDS) contracts. In

connection with the purchase of CDOs, the CDS counterparties will concurrently unwind the related CDS transactions. Payments by Maiden Lane

III LLC from the proceeds of the net portfolio holdings will be made in the following order: operating expenses of Maiden Lane III LLC, principal due

to the FRBNY, interest due to the FRBNY, principal due to AIG, and interest due to AIG. Any remaining funds will be shared by the FRBNY and

AIG.

7. Information on Principal Accounts of TALF LLC

Millions of dollars

Wednesday

Dec 14, 2011 Account name

Asset-backed securities holdings1 0

Other investments, net 803

Net portfolio holdings of TALF LLC 803

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

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

Funding provided by U.S. Treasury to TALF LLC, including accrued interest payable3 109

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

market on the measurement date.

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

under generally accepted accounting principles. Refer to the note on consolidation accompanying table 9.

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 8

and table 9.

Note: On November 25, 2008, the Federal Reserve announced the creation of the Term Asset-Backed Securities Loan Facility (TALF) under the authority

of section 13(3) of the Federal Reserve Act. The TALF is a facility under which the Federal Reserve Bank of New York (FRBNY) extends loans with a term

of up to five years to holders of eligible asset-backed securities. The TALF is intended to assist financial markets in accommodating the credit needs of

consumers and businesses by facilitating the issuance of asset-backed securities collateralized by a variety of consumer and business loans. The loans

provided through the TALF to eligible borrowers are non-recourse, meaning that the obligation of the borrower can be discharged by surrendering the

collateral to the FRBNY. The loans are extended for the market value of the security less an amount known as a haircut. As a result, the borrower bears

the initial risk of a decline in the value of the security.

TALF LLC is a limited liability company formed to purchase and manage any asset-backed securities received by the FRBNY in connection with the

decision of a borrower not to repay a TALF loan. TALF LLC has committed, for a fee, to purchase all asset-backed securities received by the FRBNY in

conjunction with a TALF loan at a price equal to the TALF loan plus accrued but unpaid interest. Losses on asset-backed securities held by TALF LLC will

be offset in the following order: by the commitment fees collected by TALF LLC, by the interest received on investments of TALF LLC, by up to $4.3 billion

in subordinated debt funding provided by the U.S. Treasury, and finally, by senior debt funding provided by the FRBNY. Payments by TALF LLC from the

proceeds of its net portfolio holdings will be made in the following order: operating expenses of TALF LLC, principal due to the FRBNY, principal due to the

U.S. Treasury, interest due to the FRBNY, and interest due to the U.S. Treasury. Any remaining funds will be shared by the FRBNY and the U.S. Treasury.
H.4.1

8. Consolidated Statement of Condition of All Federal Reserve Banks

Millions of dollars

Eliminations from

consolidation

Wednesday

Dec 14, 2011

Change since

Wednesday

 Dec 7, 2011

Wednesday

Dec 15, 2010

Assets, liabilities, and capital

Assets

Gold certificate account 11,037 0 0

Special drawing rights certificate account 5,200 0 0

Coin 2,280 + 12 + 136

Securities, repurchase agreements, and loans 2,647,050 + 29,430 + 477,016

Securities held outright1 2,637,462 + 29,467 + 513,180

U.S. Treasury securities 1,673,475 - 1,559 + 705,922

Bills2 18,423 0 0

Notes and bonds, nominal2 1,576,894 - 1,501 + 680,316

Notes and bonds, inflation-indexed2 68,468 + 48 + 21,962

Inflation compensation3 9,690 - 106 + 3,644

Federal agency debt securities2 105,909 0 - 41,975

Mortgage-backed securities4 858,078 + 31,026 - 150,767

Repurchase agreements5 0 0 0

Loans 9,588 - 38 - 36,164

Net portfolio holdings of Maiden Lane LLC6 7,211 - 3,413 - 19,703

Net portfolio holdings of Maiden Lane II LLC7 9,239 + 3 - 6,905

Net portfolio holdings of Maiden Lane III LLC8 17,719 - 211 - 5,402

Net portfolio holdings of TALF LLC9 803 0 + 155

Preferred interests in AIA Aurora LLC and ALICO

Holdings LLC10 0 0 - 26,057

Items in process of collection (80) 319 - 9 + 52

Bank premises 2,184 + 2 - 39

Central bank liquidity swaps11 54,335 + 52,034 + 54,275

Other assets12 147,584 + 3,906 + 42,882

Total assets (80) 2,904,959 + 81,752 + 516,409

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

8. Consolidated Statement of Condition of All Federal Reserve Banks (continued)

Millions of dollars

Eliminations from

consolidation

Wednesday

Dec 14, 2011

Change since

Wednesday

 Dec 7, 2011

Wednesday

Dec 15, 2010

Assets, liabilities, and capital

Liabilities

Federal Reserve notes, net of F.R. Bank holdings 1,024,629 + 2,538 + 86,193

Reverse repurchase agreements13 82,472 - 2,726 + 31,656

Deposits (0) 1,724,841 + 81,763 + 427,509

Term deposits held by depository institutions 5,055 0 - 58

Other deposits held by depository institutions 1,615,168 + 65,183 + 618,116

U.S. Treasury, General Account 25,651 + 3,904 - 65,990

U.S. Treasury, Supplementary Financing Account 0 0 - 199,961

Foreign official 700 + 574 - 2,461

Other (0) 78,267 + 12,102 + 77,864

Deferred availability cash items (80) 1,334 - 73 - 977

Other liabilities and accrued dividends14 17,805 + 185 - 25,124

Total liabilities (80) 2,851,081 + 81,687 + 519,258

Capital accounts

Capital paid in 26,939 + 33 + 107

Surplus 26,939 + 33 + 1,000

Other capital accounts 0 0 - 3,957

Total capital 53,879 + 66 - 2,849

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. Current face value of the securities, which is the remaining principal balance of the

underlying mortgages.

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

6. Refer to table 4 and the note on consolidation accompanying table 9.

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

8. Refer to table 6 and the note on consolidation accompanying table 9.

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

10.As a result of the closing of the AIG recapitalization plan on January 14, 2011, the Federal Reserve Bank of New York has been paid in full

for its	preferred interests in AIA Aurora LLC and ALICO Holdings LLC. A portion of the preferred interests was redeemed by AIG with the funds

from AIG asset dispositions that were held as agent by the Federal Reserve.

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 other assets denominated in foreign currencies, which are revalued daily at market exchange rates and the fair value adjustment to

credit extended by the Federal Reserve Bank of New York (FRBNY) to eligible borrowers through the Term Asset-Backed Securities Loan Facility.

Before the closing of the AIG recapitalization plan on January 14, 2011, included accrued dividends on the FRBNY’s preferred interests in AIA

Aurora LLC and ALICO Holdings LLC.

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

14.Includes the liabilities of Maiden Lane LLC, Maiden Lane II LLC, Maiden Lane III LLC, and TALF LLC to entities other than the Federal

Reserve Bank of New York, including liabilities that have recourse only to the portfolio holdings of these LLCs. Refer to table 4 through table 7 and

the note on consolidation accompanying table 9. Also includes the liability for interest on Federal Reserve notes due to U.S. Treasury. Before the

closing of the AIG recapitalization plan on January 14, 2011, included funds from American International Group, Inc. asset dispositions, held as agent.
H.4.1

9. Statement of Condition of Each Federal Reserve Bank, December 14, 2011Millions of dollars

Total Boston New York Philadelphia Cleveland Richmond Atlanta Chicago St. Louis Minn

Assets, liabilities, and capital

Assets

Gold certificate account 11,037 390 3,866 432 450 872 1,394 854 319 Special drawing rights certificate acct. 5,200 196 1,818 210 237 412 654 424 150 Coin 2,280 53 80 160 170 403 199 333 32 Securities, repurchase agreements,

and loans 2,647,050 64,846 1,236,056 90,351 71,247 304,600 196,091 156,632 49,924 

Securities held outright1 2,637,462 64,846 1,226,533 90,349 71,243 304,600 196,076 156,627 49,919 

U.S. Treasury securities 1,673,475 41,145 778,238 57,327 45,204 193,269 124,410 99,380 31,674 

Bills2 18,423 453 8,567 631 498 2,128 1,370 1,094 349 Notes and bonds3 1,655,052 40,692 769,670 56,696 44,706 191,142 123,041 98,286 31,325 

Federal agency debt securities2 105,909 2,604 49,252 3,628 2,861 12,231 7,874 6,289 2,005 

Mortgage-backed securities4 858,078 21,097 399,043 29,394 23,178 99,099 63,792 50,957 16,241 

Repurchase agreements5 0 0 0 0 0 0 0 0 0 Loans 9,588 0 9,523 2 4 0 16 6 5 

Net portfolio holdings of Maiden

Lane LLC6 7,211 0 7,211 0 0 0 0 0 0 

Net portfolio holdings of Maiden

Lane II LLC7 9,239 0 9,239 0 0 0 0 0 0 

Net portfolio holdings of Maiden

Lane III LLC8 17,719 0 17,719 0 0 0 0 0 0 

Net portfolio holdings of TALF LLC9 803 0 803 0 0 0 0 0 0 

Preferred interests in AIA Aurora LLC

and ALICO Holdings LLC10 0 0 0 0 0 0 0 0 0 

Items in process of collection 399 11 0 92 62 5 25 24 6 Bank premises 2,184 122 262 67 126 232 214 206 134 Central bank liquidity swaps11 54,335 1,878 15,737 5,263 4,030 11,142 3,114 1,377 443 Other assets12 147,584 3,911 63,850 6,713 5,211 19,448 10,559 7,875 2,538 Interdistrict settlement account 0 - 1,310 + 266,117 - 22,195 - 860 - 93,171 - 45,967 - 18,833 - 9,248 - 

Total assets 2,905,040 70,096 1,622,757 81,093 80,672 243,943 166,283 148,892 44,298 

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

9. Statement of Condition of Each Federal Reserve Bank, December 14, 2011 (continued)Millions of dollars

Total Boston New York Philadelphia Cleveland Richmond Atlanta Chicago St. Louis Minn

Assets, liabilities, and capital

Liabilities

Federal Reserve notes outstanding 1,201,788 44,514 420,255 46,462 54,367 95,100 145,088 89,848 33,948 

Less: Notes held by F.R. Banks 177,159 4,827 50,082 6,838 10,171 11,675 27,872 12,746 4,107 

Federal Reserve notes, net 1,024,629 39,687 370,173 39,624 44,196 83,425 117,216 77,102 29,841 

Reverse repurchase agreements13 82,472 2,028 38,353 2,825 2,228 9,525 6,131 4,898 1,561 

Deposits 1,724,841 26,200 1,183,336 33,542 29,825 138,957 39,237 64,831 12,211 

Term deposits held by depository

institutions 5,055 10 2,318 503 0 15 5 1,505 50 

Other deposits held by depository

institutions 1,615,168 26,176 1,076,597 33,031 29,821 138,826 39,230 63,291 12,161 

U.S. Treasury, General Account 25,651 0 25,651 0 0 0 0 0 0 U.S. Treasury, Supplementary

Financing Account 0 0 0 0 0 0 0 0 0 

Foreign official 700 1 672 4 3 8 2 1 0 Other 78,267 12 78,099 5 1 108 0 33 1 

Deferred availability cash items 1,414 65 0 149 147 37 80 74 43 Interest on Federal Reserve notes due

to U.S. Treasury14 922 23 506 -4 1 65 78 75 24 

Other liabilities and accrued

dividends15 16,884 208 13,047 292 299 806 464 388 177 

Total liabilities 2,851,161 68,210 1,605,416 76,427 76,695 232,815 163,206 147,368 43,858 Capital

Capital paid in 26,939 943 8,671 2,333 1,988 5,564 1,539 762 220 Surplus 26,939 943 8,671 2,333 1,988 5,564 1,539 762 220 Other capital 0 0 0 0 0 0 0 0 0 

Total liabilities and capital 2,905,040 70,096 1,622,757 81,093 80,672 243,943 166,283 148,892 44,298 

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

9. Statement of Condition of Each Federal Reserve Bank, December 14, 2011 (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 securitie4. Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. Current face value of the securities, which is the remaining principal balance of the underlying mort5. Cash value of agreements, which are collateralized by U.S. Treasury and federal agency securities.6. Refer to table 4 and the note on consolidation below.7. Refer to table 5 and the note on consolidation below.8. Refer to table 6 and the note on consolidation below.9. Refer to table 7 and the note on consolidation below.10.As a result of the closing of the AIG recapitalization plan on January 14, 2011, the Federal Reserve Bank of New York has been paid in full for its preferred inte

Holdings LLC. A portion of the preferred interests was redeemed by AIG with the funds from AIG asset dispositions that were held as agent by the Federal Res

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 centr

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

12.Includes other assets denominated in foreign currencies, which are revalued daily at market exchange rates and the fair value adjustment to credit extended by 

of New York (FRBNY) to eligible	borrowers through the Term Asset-Backed Securities Loan Facility. Before the closing of the AIG recapitalization plan on Janudividends on the FRBNY’s preferred interests in AIA Aurora LLC and ALICO Holdings LLC.

13.Cash value of agreements, which are collateralized by U.S. Treasury securities, federal agency debt securities, and mortgage-backed securities.14.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 

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

15.Includes the liabilities of Maiden Lane LLC, Maiden Lane II LLC, Maiden Lane III LLC, and TALF LLC to entities other than the Federal Reserve Bank of New Y

recourse only to the portfolio holdings of these LLCs. Refer to table 4 through table 7 and the note on consolidation below. Before the closing of the AIG recapitincluded funds from American International Group, Inc. asset dispositions, held as agent.

Note on consolidation:The Federal Reserve Bank of New York (FRBNY) has extended loans to several limited liability companies under the authority of section 13(3) of the Federal Resewas extended to Maiden Lane LLC, which was formed to acquire certain assets of Bear Stearns. On November 25, 2008, a loan was extended to Maiden Lane III multi-sector collateralized debt obligations on which the Financial Products group of the American International Group, Inc. has written credit default swap contractwas extended to Maiden Lane II LLC, which was formed to purchase residential mortgage-backed securities from the U.S. securities lending reinvestment portfolio International Group, Inc. On November 25, 2008, the Federal Reserve Board authorized the FRBNY to extend credit to TALF LLC, which was formed to purchase 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 FacilitThe FRBNY is the primary beneficiary of TALF LLC, because of the two beneficiaries of the LLC, the FRBNY and the U.S. Treasury, the FRBNY is primarily respoTALF LLC. The FRBNY is the primary beneficiary of the other LLCs cited above because it will receive a majority of any residual returns of the LLCs and absorb a Consistent with generally accepted accounting principles, the assets and liabilities of these LLCs have been consolidated with the assets and liabilities of the FRBNcondition shown on this release. As a consequence of the consolidation, the extensions of credit from the FRBNY to the LLCs are eliminated, the net assets of the (and in table 1 and table 8), and the liabilities of the LLCs to entities other than the FRBNY, including those with recourse only to the portfolio holdings of the LLCsin this table (and table 1 and table 8).
H.4.1

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

Millions of dollars

Wednesday

Dec 14, 2011 Federal Reserve notes and collateral

Federal Reserve notes outstanding 1,201,788

Less: Notes held by F.R. Banks not subject to collateralization 177,159

Federal Reserve notes to be collateralized 1,024,629

Collateral held against Federal Reserve notes 1,024,629

Gold certificate account 11,037

Special drawing rights certificate account 5,200

U.S. Treasury, agency debt, and mortgage-backed securities pledged1,2 1,008,392

Other assets pledged 0

Memo:

Total U.S. Treasury, agency debt, and mortgage-backed securities1,2 2,637,462

Less: Face value of securities under reverse repurchase agreements 71,502

U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 2,565,960

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.