FEDERAL RESERVE statistical release

H.4.1

Factors Affecting Reserve Balances of Depository Institutions and

Condition Statement of Federal Reserve Banks October 23, 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

Oct 22, 2014 Oct 15, 2014 Oct 23, 2013

Wednesday

Oct 22, 2014

Reserve Bank credit 4,436,686 + 15,213 + 654,283 4,440,380

Securities held outright1 4,211,150 + 14,474 + 657,465 4,214,342

U.S. Treasury securities 2,457,059 + 2,499 + 355,900 2,459,197

Bills2 0 0 0 0

Notes and bonds, nominal2 2,342,132 + 2,538 + 343,101 2,344,287

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

Inflation compensation3 16,457 - 41 + 2,918 16,441

Federal agency debt securities2 39,700 - 262 - 19,535 39,700

Mortgage-backed securities4 1,714,392 + 12,239 + 321,101 1,715,445

Unamortized premiums on securities held outright5 209,245 + 277 + 3,876 209,172

Unamortized discounts on securities held outright5 -18,707 + 28 - 10,604 -18,726

Repurchase agreements6 0 0 0 0

Loans 221 - 5 - 22 240

Primary credit 5 + 1 - 14 24

Secondary credit 0 0 0 0

Seasonal credit 202 - 6 + 78 201

Term Asset-Backed Securities Loan Facility7 14 0 - 86 14

Other credit extensions 0 0 0 0

Net portfolio holdings of Maiden Lane LLC8 1,673 + 2 + 180 1,671

Net portfolio holdings of Maiden Lane II LLC9 0 0 - 64 0

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

Net portfolio holdings of TALF LLC10 24 0 - 87 24

Float -618 + 22 + 15 -548

Central bank liquidity swaps11 0 0 - 272 0

Other Federal Reserve assets12 33,697 + 414 + 3,816 34,206

Foreign currency denominated assets13 22,638 + 155 - 1,758 22,490

Gold stock 11,041 0 0 11,041

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

Treasury currency outstanding14 46,202 + 14 + 817 46,202

Total factors supplying reserve funds 4,521,767 + 15,381 + 653,343 4,525,314

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

Oct 22, 2014 Oct 15, 2014 Oct 23, 2013

Wednesday

Oct 22, 2014

Currency in circulation14 1,296,388 + 571 + 80,602 1,297,040

Reverse repurchase agreements15 225,040 - 29,403 + 107,083 235,916

Foreign official and international accounts 99,398 + 296 - 12,163 100,492

Others 125,642 - 29,699 + 119,246 135,424

Treasury cash holdings 195 + 1 + 11 197

Deposits with F.R. Banks, other than reserve balances 247,191 + 149,695 + 135,358 249,331

Term deposits held by depository institutions 110,029 + 110,029 + 110,029 110,029

U.S. Treasury, General Account 123,514 + 43,724 + 79,321 124,596

Foreign official 5,246 + 3 - 3,414 5,248

Other16 8,402 - 4,061 - 50,577 9,458

Other liabilities and capital17 64,340 - 807 - 879 63,223

Total factors, other than reserve balances,

absorbing reserve funds 1,833,155 + 120,059 + 322,177 1,845,708

Reserve balances with Federal Reserve Banks 2,688,613 - 104,677 + 331,167 2,679,606

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 7.

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 7.

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

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 liabilities of TALF LLC to entities other than the Federal Reserve Bank of New York, including liabilities that have recourse only to the

portfolio holdings of this LLC. Refer to table 5 and the note on consolidation accompanying table 7. Also includes the liability for interest on Federal

Reserve notes due to U.S. Treasury. Refer to table 6 and table 7.

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

Oct 22, 2014 Oct 15, 2014 Oct 23, 2013

Wednesday

Oct 22, 2014

Securities held in custody for foreign official and international

accounts 3,303,354 - 14,670 - 18,743 3,290,927

Marketable U.S. Treasury securities1 2,972,780 - 10,137 + 8,247 2,961,159

Federal agency debt and mortgage-backed securities2 288,837 - 2,318 - 28,351 288,081

Other securities3 41,737 - 2,216 + 1,360 41,688

Securities lent to dealers 13,105 + 509 - 2,237 10,410

Overnight facility4 13,105 + 509 - 2,237 10,410

U.S. Treasury securities 12,454 + 651 - 1,810 9,753

Federal agency debt securities 651 - 142 - 427 657

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, 6, and 7.

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, October 22, 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 240 0 0 0 0 ... 240

U.S. Treasury securities1

Holdings 1 89 3,193 1,050,012 742,973 662,928 2,459,197

Weekly changes + 1 - 1 - 1 + 2,156 + 1,540 + 156 + 3,852

Federal agency debt securities2

Holdings 0 2,112 3,442 31,799 0 2,347 39,700

Weekly changes 0 + 1,089 - 1,089 0 0 0 0

Mortgage-backed securities3

Holdings 0 0 0 10 5,193 1,710,242 1,715,445

Weekly changes 0 0 0 0 + 170 + 1,797 + 1,967

Asset-backed securities held by

TALF LLC4 0 0 0 0 0 0 0

Repurchase agreements5 0 0 ... ... ... ... 0

Central bank liquidity swaps6 0 0 0 0 0 0 0

Reverse repurchase agreements5 235,916 0 ... ... ... ... 235,916

Term deposits 110,029 0 0 ... ... ... 110,029

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

5. Cash value of agreements.

6. 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 Oct 22, 2014

Mortgage-backed securities held outright1 1,715,445

Commitments to buy mortgage-backed securities2 53,452

Commitments to sell mortgage-backed securities2 0

Cash and cash equivalents3 18

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 6 and table 7.

4. Information on Principal Accounts of Maiden Lane LLC

Millions of dollars

Wednesday Account name Oct 22, 2014

Net portfolio holdings of Maiden Lane LLC1 1,671

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 June 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 7.

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 6 and table 7.

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. Information on Principal Accounts of TALF LLC

Millions of dollars

Wednesday Account name Oct 22, 2014

Asset-backed securities holdings1 0

Other investments, net 24

Net portfolio holdings of TALF LLC 24

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 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.

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 7.

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 6

and table 7.

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) extended loans with a term of up

to five years to holders of eligible asset-backed securities. The Federal Reserve closed the TALF for new loan extensions in 2010. 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.

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. Prior to January 15, 2013, the U.S. Treasury's Troubled Asset Relief Program

(TARP) committed backup funding to TALF LLC, providing credit protection to the FRBNY. However, the accumulated fees and income collected through the

TALF and held by TALF LLC now exceed the remaining amount of TALF loans outstanding. Accordingly, the TARP credit protection commitment has been

terminated, and TALF LLC has begun to distribute excess proceeds to the Treasury and the FRBNY. Any remaining funds will be shared by the FRBNY and

the U.S. Treasury.
H.4.1

6. Consolidated Statement of Condition of All Federal Reserve Banks

Millions of dollars

Change since

Assets, liabilities, and capital Wednesday Wednesday Eliminations from

consolidation

Wednesday

Oct 22, 2014 Oct 15, 2014 Oct 23, 2013

Assets

Gold certificate account 11,037 0 0

Special drawing rights certificate account 5,200 0 0

Coin 1,891 - 8 - 83

Securities, unamortized premiums and discounts,

repurchase agreements, and loans 4,405,027 + 5,610 + 641,224

Securities held outright1 4,214,342 + 5,819 + 648,116

U.S. Treasury securities 2,459,197 + 3,852 + 352,722

Bills2 0 0 0

Notes and bonds, nominal2 2,344,287 + 3,895 + 339,951

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

Inflation compensation3 16,441 - 43 + 2,892

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

Mortgage-backed securities4 1,715,445 + 1,967 + 314,774

Unamortized premiums on securities held outright5 209,172 - 207 + 3,566

Unamortized discounts on securities held outright5 -18,726 - 7 - 10,458

Repurchase agreements6 0 0 0

Loans 240 + 6 + 1

Net portfolio holdings of Maiden Lane LLC7 1,671 - 3 + 176

Net portfolio holdings of Maiden Lane II LLC8 0 0 - 64

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

Net portfolio holdings of TALF LLC9 24 0 - 87

Items in process of collection (0) 71 - 31 - 22

Bank premises 2,263 + 4 - 25

Central bank liquidity swaps10 0 0 - 272

Foreign currency denominated assets11 22,490 - 234 - 2,041

Other assets12 31,942 + 1,918 + 3,796

Total assets (0) 4,481,616 + 7,256 + 642,583

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

6. 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

Oct 22, 2014 Oct 15, 2014 Oct 23, 2013

Liabilities

Federal Reserve notes, net of F.R. Bank holdings 1,252,921 + 705 + 78,950

Reverse repurchase agreements13 235,916 + 14,767 + 114,681

Deposits (0) 2,928,938 - 6,610 + 450,300

Term deposits held by depository institutions 110,029 + 110,029 + 110,029

Other deposits held by depository institutions 2,679,606 - 141,130 + 297,013

U.S. Treasury, General Account 124,596 + 23,183 + 88,905

Foreign official 5,248 + 6 - 3,404

Other14 (0) 9,458 + 1,302 - 42,244

Deferred availability cash items (0) 619 - 438 - 42

Other liabilities and accrued dividends15 6,766 - 1,199 - 2,868

Total liabilities (0) 4,425,159 + 7,225 + 641,020

Capital accounts

Capital paid in 28,228 + 15 + 781

Surplus 28,228 + 15 + 781

Other capital accounts 0 0 0

Total capital 56,457 + 32 + 1,563

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 7.

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 7.

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

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 liabilities of TALF LLC to entities other than the Federal Reserve Bank of New York, including liabilities that have recourse only to the

portfolio holdings of this LLC. Refer to table 5 and the note on consolidation accompanying table 7. Also includes the liability for interest on Federal

Reserve notes due to U.S. Treasury.
H.4.1

7. Statement of Condition of Each Federal Reserve Bank, October 22, 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 1,891 32 93 122 119 312 217 273 18 46 150 177 331

Securities, unamortized premiums and

discounts, repurchase agreements,

and loans 4,405,027 89,101 2,703,512 105,525 96,173 246,187 243,525 180,062 54,351 27,102 58,043 134,225 467,221

Securities held outright1 4,214,342 85,249 2,586,609 100,963 92,014 235,542 232,966 172,246 51,981 25,827 55,513 128,412 447,020

U.S. Treasury securities 2,459,197 49,745 1,509,365 58,915 53,693 137,446 135,943 100,511 30,332 15,071 32,393 74,932 260,850

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

Notes and bonds3 2,459,197 49,745 1,509,365 58,915 53,693 137,446 135,943 100,511 30,332 15,071 32,393 74,932 260,850

Federal agency debt securities2 39,700 803 24,366 951 867 2,219 2,195 1,623 490 243 523 1,210 4,211

Mortgage-backed securities4 1,715,445 34,700 1,052,878 41,097 37,454 95,877 94,829 70,113 21,159 10,513 22,596 52,270 181,959

Unamortized premiums on securities 

held outright5 209,172 4,231 128,382 5,011 4,567 11,691 11,563 8,549 2,580 1,282 2,755 6,374 22,187

Unamortized discounts on securities 

held outright5 -18,726 -379 -11,494 -449 -409 -1,047 -1,035 -765 -231 -115 -247 -571 -1,986

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

Loans 240 0 14 0 1 0 31 33 21 108 21 10 1

Net portfolio holdings of Maiden

Lane LLC7 1,671 0 1,671 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 24 0 24 0 0 0 0 0 0 0 0 0 0

Items in process of collection 71 0 0 0 0 0 70 0 0 0 0 0 0

Bank premises 2,263 122 438 74 110 222 211 199 123 97 243 224 200

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

Foreign currency denominated

assets11 22,490 1,023 7,235 1,691 1,788 4,689 1,293 621 189 95 237 376 3,254

Other assets12 31,942 683 19,305 766 699 1,935 1,759 1,290 455 227 444 1,064 3,317

Interdistrict settlement account 0 + 18,347 - 8,950 - 826 + 4,313 - 14,418 + 496 - 17,249 - 9,620 - 1,672 - 3,087 + 2,827 + 29,840

Total assets 4,481,616 109,855 2,729,270 107,900 103,904 240,162 249,573 166,327 45,944 26,158 56,472 140,055 505,996

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

7. Statement of Condition of Each Federal Reserve Bank, October 22, 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 1,449,536 44,461 482,313 44,473 66,760 102,789 214,315 97,201 39,264 21,040 36,691 117,280 182,948

Less: Notes held by F.R. Banks 196,614 5,290 67,414 5,958 8,796 11,630 22,378 10,924 4,741 3,874 5,285 21,302 29,022

Federal Reserve notes, net 1,252,921 39,170 414,899 38,516 57,964 91,160 191,936 86,277 34,523 17,166 31,406 95,978 153,926

Reverse repurchase agreements13 235,916 4,772 144,796 5,652 5,151 13,185 13,041 9,642 2,910 1,446 3,108 7,188 25,024

Deposits 2,928,938 63,140 2,147,653 60,358 36,106 122,831 40,343 68,526 7,840 7,075 21,213 35,658 318,196

Term deposits held by depository

institutions 110,029 40 76,805 12,310 2,215 23 556 7,190 15 92 3,803 105 6,875

Other deposits held by depository

institutions 2,679,606 63,093 1,931,847 48,016 33,888 122,577 39,778 61,329 7,824 6,983 17,408 35,552 311,312

U.S. Treasury, General Account 124,596 0 124,596 0 0 0 0 0 0 0 0 0 0

Foreign official 5,248 2 5,221 3 3 8 2 1 0 0 0 1 6

Other14 9,458 5 9,184 28 0 223 7 6 0 0 1 1 3

Deferred availability cash items 619 0 0 0 0 0 515 0 0 104 0 0 0

Interest on Federal Reserve notes due

to U.S. Treasury15 1,539 31 1,176 32 23 -199 107 79 25 8 27 62 169

Other liabilities and accrued

dividends16 5,227 179 2,359 210 218 581 377 274 140 119 121 201 449

Total liabilities 4,425,159 107,292 2,710,884 104,767 99,461 227,558 246,319 164,797 45,438 25,917 55,874 139,087 497,764

Capital

Capital paid in 28,228 1,282 9,193 1,567 2,221 6,302 1,627 765 253 120 299 484 4,116

Surplus 28,228 1,282 9,193 1,567 2,221 6,302 1,627 765 253 120 299 484 4,116

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

Total liabilities and capital 4,481,616 109,855 2,729,270 107,900 103,904 240,162 249,573 166,327 45,944 26,158 56,472 140,055 505,996

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

7. Statement of Condition of Each Federal Reserve Bank, October 22, 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 table 5 and 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.

16. Includes the liabilities of TALF LLC to entities other than the Federal Reserve Bank of New York, including liabilities that have recourse only to the portfolio holdings of this LLC. Refer to table 5 and

the note on consolidation below.

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 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 responsible for directing the financial activities of

TALF 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 majority of any residual losses of the LLCs.

Consistent with generally accepted accounting principles, the assets and liabilities of these LLCs have been 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 are eliminated, the net assets of the LLCs appear as assets on the previous page

(and in table 1 and table 6), and the liabilities of the LLCs to entities other than the FRBNY, including those with recourse only to the portfolio holdings of the LLCs, are included in other liabilities in this table

(and table 1 and table 6).
H.4.1

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

Millions of dollars

Wednesday Federal Reserve notes and collateral Oct 22, 2014

Federal Reserve notes outstanding 1,449,536

Less: Notes held by F.R. Banks not subject to collateralization 196,614

Federal Reserve notes to be collateralized 1,252,921

Collateral held against Federal Reserve notes 1,252,921

Gold certificate account 11,037

Special drawing rights certificate account 5,200

U.S. Treasury, agency debt, and mortgage-backed securities pledged1,2 1,236,684

Other assets pledged 0

Memo:

Total U.S. Treasury, agency debt, and mortgage-backed securities1,2 4,214,342

Less: Face value of securities under reverse repurchase agreements 227,482

U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 3,986,859

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.