FEDERAL RESERVE statistical release

H.4.1

Factors Affecting Reserve Balances of Depository Institutions and

Condition Statement of Federal Reserve Banks January 5, 2012

1. Factors Affecting Reserve Balances of Depository Institutions

Millions of dollars

Averages of daily figures Wednesday

 Jan 4, 2012 Week ended

 Jan 4, 2012

Change from week ended

Dec 28, 2011 Jan 5, 2011

Reserve Bank credit, related items, and

reserve balances of depository institutions at

Federal Reserve Banks

Reserve Bank credit 2,900,719 - 19,597 + 489,869 2,899,143

Securities held outright1 2,605,139 - 18,657 + 441,576 2,605,171

U.S. Treasury securities 1,663,446 - 7,998 + 639,484 1,663,438

Bills2 18,423 0 0 18,423

Notes and bonds, nominal2 1,566,954 - 7,971 + 615,964 1,566,954

Notes and bonds, inflation-indexed2 68,468 0 + 20,112 68,468

Inflation compensation3 9,601 - 27 + 3,407 9,593

Federal agency debt securities2 103,994 - 602 - 43,466 103,994

Mortgage-backed securities4 837,699 - 10,057 - 154,442 837,739

Repurchase agreements5 0 0 0 0

Loans 9,132 + 24 - 35,575 8,980

Primary credit 106 + 94 + 6 0

Secondary credit 0 - 1 0 0

Seasonal credit 20 - 6 + 4 10

Credit extended to American International

Group, Inc., net6 0 0 - 19,919 0

Term Asset-Backed Securities Loan Facility7 9,007 - 62 - 15,666 8,970

Other credit extensions 0 0 0 0

Net portfolio holdings of Maiden Lane LLC8 7,232 - 2 - 19,742 7,239

Net portfolio holdings of Maiden Lane II LLC9 9,261 + 12 - 6,864 9,143

Net portfolio holdings of Maiden Lane III LLC10 17,749 + 15 - 5,403 17,788

Net portfolio holdings of TALF LLC11 811 0 + 146 811

Preferred interests in AIA Aurora LLC and ALICO

Holdings LLC6 0 0 - 26,338 0

Float -860 - 206 + 836 -1,897

Central bank liquidity swaps12 99,823 0 + 99,748 99,823

Other Federal Reserve assets13 152,432 - 784 + 41,485 152,086

Gold stock 11,041 0 0 11,041

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

Treasury currency outstanding14 44,264 + 14 + 722 44,264

Total factors supplying reserve funds 2,961,223 - 19,584 + 490,590 2,959,648

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

 Jan 4, 2012 Week ended

 Jan 4, 2012

Change from week ended

Dec 28, 2011 Jan 5, 2011

Reserve Bank credit, related items, and

reserve balances of depository institutions at

Federal Reserve Banks

Currency in circulation14 1,075,543 + 1,898 + 92,826 1,074,354

Reverse repurchase agreements15 96,297 + 5,454 + 36,881 88,111

Foreign official and international accounts 96,297 + 5,454 + 36,881 88,111

Others 0 0 0 0

Treasury cash holdings 129 + 8 - 48 132

Deposits with F.R. Banks, other than reserve balances 152,065 - 56,738 - 175,138 147,920

Term deposits held by depository institutions 0 0 0 0

U.S. Treasury, General Account 87,058 - 11,594 - 28,328 87,031

U.S. Treasury, Supplementary Financing Account 0 0 - 199,964 0

Foreign official 125 - 53 - 3,253 125

Service-related 2,485 - 3 + 111 2,485

Required clearing balances 2,485 - 3 + 111 2,485

Adjustments to compensate for float 0 0 0 0

Other 62,397 - 45,087 + 56,295 58,279

Funds from American International Group, Inc. asset

dispositions, held as agent6 0 0 - 26,896 0

Other liabilities and capital16 72,280 - 709 - 150 70,030

Total factors, other than reserve balances,

absorbing reserve funds 1,396,314 - 50,087 - 72,525 1,380,546

Reserve balances with Federal Reserve Banks 1,564,909 + 30,503 + 563,114 1,579,102

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

 Jan 4, 2012 Week ended

 Jan 4, 2012

Change from week ended

Dec 28, 2011 Jan 5, 2011

Memorandum item

Marketable securities held in custody for foreign

official and international accounts1 3,405,198 - 14,994 + 60,941 3,401,953

U.S. Treasury securities 2,673,567 - 14,920 + 63,280 2,670,644

Federal agency securities2 731,630 - 75 - 2,339 731,309

Securities lent to dealers 14,064 - 2,180 - 5,395 13,739

Overnight facility3 14,064 - 2,180 - 5,395 13,739

U.S. Treasury securities 12,883 - 2,110 - 5,105 12,697

Federal agency debt securities 1,180 - 71 - 291 1,042

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, January 4, 2012

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 0 10 4,355 4,614 0 ... 8,980

U.S. Treasury securities2

Holdings 16,822 25,675 87,548 651,964 650,850 230,578 1,663,438

Weekly changes - 1,025 + 169 + 263 + 1,586 - 9,636 - 13 - 8,654

Federal agency debt securities3

Holdings 2,496 5,020 19,695 60,603 13,833 2,347 103,994

Weekly changes + 745 - 745 0 0 0 0 0

Mortgage-backed securities4

Holdings 0 0 0 13 36 837,690 837,739

Weekly changes 0 0 0 0 + 2 + 442 + 444

Asset-backed securities held by

TALF LLC5 0 0 0 0 0 0 0

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

Central bank liquidity swaps7 43,712 56,111 0 0 0 0 99,823

Reverse repurchase agreements6 88,111 0 ... ... ... ... 88,111

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

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

 Jan 4, 2012 Account name

Mortgage-backed securities held outright1 837,739

Commitments to buy mortgage-backed securities2 43,588

Commitments to sell mortgage-backed securities2 4,350

Cash and cash equivalents3 78

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

 Jan 4, 2012 Account name

Net portfolio holdings of Maiden Lane LLC1 7,239

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 756

Outstanding principal amount and accrued interest on loan payable to JPMorgan Chase & Co.3 1,386

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

 Jan 4, 2012 Account name

Net portfolio holdings of Maiden Lane II LLC1 9,143

Outstanding principal amount of loan extended by the Federal Reserve Bank of New York2 6,084

Accrued interest payable to the Federal Reserve Bank of New York2 570

Deferred payment and accrued interest payable to subsidiaries of American International Group, Inc.3 1,107

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

 Jan 4, 2012 Account name

Net portfolio holdings of Maiden Lane III LLC1 17,788

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 693

Outstanding principal amount and accrued interest on loan payable to American International Group, Inc.3 5,544

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

 Jan 4, 2012 Account name

Asset-backed securities holdings1 0

Other investments, net 811

Net portfolio holdings of TALF LLC 811

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

 Jan 4, 2012

Change since

Wednesday

Dec 28, 2011

Wednesday

 Jan 5, 2011

Assets, liabilities, and capital

Assets

Gold certificate account 11,037 0 0

Special drawing rights certificate account 5,200 0 0

Coin 2,316 + 10 + 125

Securities, repurchase agreements, and loans 2,614,151 - 8,313 + 398,950

Securities held outright1 2,605,171 - 8,211 + 434,585

U.S. Treasury securities 1,663,438 - 8,654 + 632,453

Bills2 18,423 0 0

Notes and bonds, nominal2 1,566,954 - 8,630 + 610,400

Notes and bonds, inflation-indexed2 68,468 0 + 18,725

Inflation compensation3 9,593 - 24 + 3,328

Federal agency debt securities2 103,994 0 - 43,466

Mortgage-backed securities4 837,739 + 444 - 154,402

Repurchase agreements5 0 0 0

Loans 8,980 - 102 - 35,635

Net portfolio holdings of Maiden Lane LLC6 7,239 + 11 - 19,770

Net portfolio holdings of Maiden Lane II LLC7 9,143 - 138 - 6,799

Net portfolio holdings of Maiden Lane III LLC8 17,788 + 49 - 5,414

Net portfolio holdings of TALF LLC9 811 0 + 146

Preferred interests in AIA Aurora LLC and ALICO

Holdings LLC10 0 0 - 26,385

Items in process of collection (156) 514 + 156 + 234

Bank premises 2,182 - 6 - 37

Central bank liquidity swaps11 99,823 0 + 99,748

Other assets12 149,866 - 185 + 40,300

Total assets (156) 2,920,069 - 8,416 + 481,097

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

 Jan 4, 2012

Change since

Wednesday

Dec 28, 2011

Wednesday

 Jan 5, 2011

Assets, liabilities, and capital

Liabilities

Federal Reserve notes, net of F.R. Bank holdings 1,032,534 - 1,986 + 92,229

Reverse repurchase agreements13 88,111 - 563 + 30,556

Deposits (0) 1,726,984 - 4,944 + 384,323

Term deposits held by depository institutions 0 0 0

Other deposits held by depository institutions 1,581,549 + 12,282 + 548,380

U.S. Treasury, General Account 87,031 - 4,387 - 18,682

U.S. Treasury, Supplementary Financing Account 0 0 - 199,964

Foreign official 125 - 253 - 3,305

Other (0) 58,279 - 12,587 + 57,894

Deferred availability cash items (156) 2,411 + 917 - 73

Other liabilities and accrued dividends14 16,230 - 1,841 - 26,688

Total liabilities (156) 2,866,269 - 8,417 + 480,345

Capital accounts

Capital paid in 26,900 0 + 376

Surplus 26,900 0 + 376

Other capital accounts 0 0 0

Total capital 53,800 + 1 + 752

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, January 4, 2012Millions 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 2,316 52 79 162 172 411 207 340 36 Securities, repurchase agreements,

and loans 2,614,151 64,052 1,220,486 89,243 70,371 300,871 193,675 154,709 49,308 

Securities held outright1 2,605,171 64,052 1,211,517 89,243 70,371 300,871 193,675 154,709 49,308 

U.S. Treasury securities 1,663,438 40,898 773,570 56,983 44,933 192,110 123,664 98,784 31,484 

Bills2 18,423 453 8,567 631 498 2,128 1,370 1,094 349 Notes and bonds3 1,645,015 40,445 765,003 56,352 44,435 189,983 122,295 97,690 31,135 

Federal agency debt securities2 103,994 2,557 48,362 3,562 2,809 12,010 7,731 6,176 1,968 

Mortgage-backed securities4 837,739 20,597 389,585 28,698 22,629 96,750 62,280 49,750 15,856 

Repurchase agreements5 0 0 0 0 0 0 0 0 0 Loans 8,980 0 8,970 0 0 0 0 0 0 

Net portfolio holdings of Maiden

Lane LLC6 7,239 0 7,239 0 0 0 0 0 0 

Net portfolio holdings of Maiden

Lane II LLC7 9,143 0 9,143 0 0 0 0 0 0 

Net portfolio holdings of Maiden

Lane III LLC8 17,788 0 17,788 0 0 0 0 0 0 

Net portfolio holdings of TALF LLC9 811 0 811 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 670 37 0 96 64 18 153 40 11 Bank premises 2,182 122 261 67 125 232 214 205 134 Central bank liquidity swaps11 99,823 3,450 28,912 9,669 7,405 20,469 5,720 2,529 814 Other assets12 149,866 3,971 64,914 6,773 5,286 19,700 10,728 8,006 2,589 Interdistrict settlement account 0 + 4,095 + 322,988 - 27,228 - 10,296 - 116,116 - 45,114 - 16,339 - 7,973 - 

Total assets 2,920,225 76,365 1,678,304 79,424 73,814 226,868 167,631 150,769 45,387 

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, January 4, 2012 (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 1,206,149 44,282 427,878 46,149 54,280 94,603 144,555 89,235 33,922 

Less: Notes held by F.R. Banks 173,615 4,399 51,137 6,265 9,108 11,005 28,898 12,097 4,064 

Federal Reserve notes, net 1,032,534 39,882 376,741 39,885 45,172 83,598 115,657 77,138 29,858 

Reverse repurchase agreements13 88,111 2,166 40,975 3,018 2,380 10,176 6,550 5,232 1,668 

Deposits 1,726,984 32,104 1,230,379 31,318 21,806 121,220 41,705 66,378 13,161 

Term deposits held by depository

institutions 0 0 0 0 0 0 0 0 0 

Other deposits held by depository

institutions 1,581,549 32,079 1,085,175 31,306 21,802 121,148 41,703 66,342 13,161 

U.S. Treasury, General Account 87,031 0 87,031 0 0 0 0 0 0 U.S. Treasury, Supplementary

Financing Account 0 0 0 0 0 0 0 0 0 

Foreign official 125 1 96 4 3 8 2 1 0 Other 58,279 23 58,077 8 0 63 0 36 0 

Deferred availability cash items 2,567 141 0 311 227 69 201 203 94 Interest on Federal Reserve notes due

to U.S. Treasury14 984 23 497 30 25 104 69 58 16 

Other liabilities and accrued

dividends15 15,246 163 12,358 197 227 573 372 323 150 

Total liabilities 2,866,425 74,479 1,660,950 74,758 69,836 215,740 164,555 149,332 44,947 Capital

Capital paid in 26,900 943 8,677 2,333 1,989 5,564 1,538 718 220 Surplus 26,900 943 8,677 2,333 1,989 5,564 1,538 718 220 Other capital 0 0 0 0 0 0 0 0 0 

Total liabilities and capital 2,920,225 76,365 1,678,304 79,424 73,814 226,868 167,631 150,769 45,387 

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, January 4, 2012 (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

 Jan 4, 2012 Federal Reserve notes and collateral

Federal Reserve notes outstanding 1,206,149

Less: Notes held by F.R. Banks not subject to collateralization 173,615

Federal Reserve notes to be collateralized 1,032,534

Collateral held against Federal Reserve notes 1,032,534

Gold certificate account 11,037

Special drawing rights certificate account 5,200

U.S. Treasury, agency debt, and mortgage-backed securities pledged1,2 1,016,297

Other assets pledged 0

Memo:

Total U.S. Treasury, agency debt, and mortgage-backed securities1,2 2,605,171

Less: Face value of securities under reverse repurchase agreements 76,449

U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 2,528,722

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.