FEDERAL RESERVE statistical release

H.4.1

Factors Affecting Reserve Balances of Depository Institutions and

Condition Statement of Federal Reserve Banks May 14, 2015

1. Factors Affecting Reserve Balances of Depository Institutions

Millions of dollars

Averages of daily figures

Change from week ended

Reserve Bank credit, related items, and

reserve balances of depository institutions at

Federal Reserve Banks

Week ended

May 13, 2015 May 6, 2015 May 14, 2014

Wednesday

May 13, 2015

Reserve Bank credit 4,439,234 + 6,273 + 165,105 4,462,275

Securities held outright1 4,218,601 + 3,721 + 174,598 4,240,069

U.S. Treasury securities 2,460,278 + 152 + 102,933 2,460,334

Bills2 0 0 0 0

Notes and bonds, nominal2 2,346,643 0 + 100,087 2,346,643

Notes and bonds, inflation-indexed2 98,534 0 + 2,563 98,534

Inflation compensation3 15,101 + 152 + 282 15,157

Federal agency debt securities2 35,895 0 - 9,070 35,895

Mortgage-backed securities4 1,722,428 + 3,568 + 80,735 1,743,840

Unamortized premiums on securities held outright5 200,421 - 207 - 9,260 201,011

Unamortized discounts on securities held outright5 -17,762 + 30 + 24 -17,750

Repurchase agreements6 0 0 0 0

Loans 72 + 4 - 58 85

Primary credit 4 - 10 - 2 6

Secondary credit 0 0 0 0

Seasonal credit 68 + 13 + 25 79

Term Asset-Backed Securities Loan Facility7 0 0 - 81 0

Other credit extensions 0 0 0 0

Net portfolio holdings of Maiden Lane LLC8 1,688 0 + 33 1,697

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

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

Net portfolio holdings of TALF LLC10 0 0 - 91 0

Float -475 + 6 + 122 -537

Central bank liquidity swaps11 0 0 - 300 0

Other Federal Reserve assets12 36,689 + 2,719 + 122 37,700

Foreign currency denominated assets13 20,084 + 33 - 4,043 20,257

Gold stock 11,041 0 0 11,041

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

Treasury currency outstanding14 46,755 + 14 + 908 46,755

Total factors supplying reserve funds 4,522,315 + 6,320 + 161,971 4,545,528

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

May 13, 2015 May 6, 2015 May 14, 2014

Wednesday

May 13, 2015

Currency in circulation14 1,363,656 + 1,744 + 88,937 1,364,762

Reverse repurchase agreements15 239,544 - 11,017 - 58,006 243,769

Foreign official and international accounts 149,574 - 6,802 + 41,793 151,640

Others 89,971 - 4,214 - 99,798 92,129

Treasury cash holdings 223 - 6 + 6 198

Deposits with F.R. Banks, other than reserve balances 232,630 - 9,162 + 140,712 224,548

Term deposits held by depository institutions 0 0 0 0

U.S. Treasury, General Account 216,211 - 11,295 + 144,961 205,392

Foreign official 5,236 + 6 - 2,543 5,231

Other16 11,183 + 2,127 - 1,706 13,925

Other liabilities and capital17 66,945 + 845 + 1,842 68,405

Total factors, other than reserve balances,

absorbing reserve funds 1,902,998 - 17,595 + 173,491 1,901,683

Reserve balances with Federal Reserve Banks 2,619,317 + 23,915 - 11,519 2,643,845

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

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

2. Face value of the securities.

3. Compensation that adjusts for the effect of inflation on the original face value of inflation-indexed securities.

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

the securities.

5. Reflects the premium or discount, which is the difference between the purchase price and the face value of the securities that has not been

amortized. For U.S. Treasury and Federal agency debt securities, amortization is on a straight-line basis. For mortgage-backed securities,

amortization is on an effective-interest basis.

6. Cash value of agreements.

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

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

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

orderly market on the measurement date. Refer to the note on consolidation accompanying table 6.

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

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

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

foreign central bank.

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

premises and equipment net of allowances for depreciation.

13. Revalued daily at current foreign currency exchange rates.

14. Estimated.

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

16. Includes deposits held at the Reserve Banks by international and multilateral organizations, government-sponsored enterprises, and designated

financial market utilities.

17. Includes the liability for interest on Federal Reserve notes due to U.S. Treasury.

Sources: Federal Reserve Banks and the U.S. Department of the Treasury.
H.4.1

1A. Memorandum Items

Millions of dollars

Averages of daily figures

Memorandum item Week ended Change from week ended

May 13, 2015 May 6, 2015 May 14, 2014

Wednesday

May 13, 2015

Securities held in custody for foreign official and international

accounts 3,316,597 + 3,555 + 32,347 3,321,250

Marketable U.S. Treasury securities1 2,986,288 + 2,597 + 36,688 2,986,307

Federal agency debt and mortgage-backed securities2 285,223 + 618 - 7,335 289,485

Other securities3 45,086 + 339 + 2,993 45,458

Securities lent to dealers 11,255 - 51 - 340 12,357

Overnight facility4 11,255 - 51 - 340 12,357

U.S. Treasury securities 10,975 - 29 + 383 12,084

Federal agency debt securities 280 - 21 - 723 273

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

1. Includes securities and U.S. Treasury STRIPS at face value, and inflation compensation on TIPS. Does not include securities pledged as collateral

to foreign official and international account holders against reverse repurchase agreements with the Federal Reserve presented in tables 1, 5, and 6.

2. Face value of federal agency securities and current face value of mortgage-backed securities, which is the remaining principal balance of the

securities.

3. Includes non-marketable U.S. Treasury securities, supranationals, corporate bonds, asset-backed securities, and commercial paper at face value.

4. Face value. Fully collateralized by U.S. Treasury securities.

2. Maturity Distribution of Securities, Loans, and Selected Other Assets and Liabilities, May 13, 2015

Millions of dollars

Remaining Maturity Within 15

days

16 days to

90 days

91 days to

1 year

Over 1 year

to 5 years

Over 5 year

to 10 years

Over 10

years

All

Loans 14 71 0 0 0 ... 85

U.S. Treasury securities1

Holdings 1,448 2 91,583 1,090,726 633,003 643,572 2,460,334

Weekly changes 0 0 0 + 22 + 29 + 100 + 152

Federal agency debt securities2

Holdings 0 802 7,997 24,749 0 2,347 35,895

Weekly changes 0 0 0 0 0 0 0

Mortgage-backed securities3

Holdings 0 0 0 25 9,514 1,734,300 1,743,840

Weekly changes 0 0 0 0 0 + 24,980 + 24,980

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

Central bank liquidity swaps5 0 0 0 0 0 0 0

Reverse repurchase agreements4 243,769 0 ... ... ... ... 243,769

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

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

...Not applicable.

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

original face value of such securities.

2. Face value.

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

4. Cash value of agreements.

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

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

central bank.
H.4.1

3. Supplemental Information on Mortgage-Backed Securities

Millions of dollars

Wednesday Account name May 13, 2015

Mortgage-backed securities held outright1 1,743,840

Commitments to buy mortgage-backed securities2 35,991

Commitments to sell mortgage-backed securities2 1,600

Cash and cash equivalents3 5

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

2. Current face value. Generally settle within 180 days and include commitments associated with outright transactions, dollar rolls, and coupon swaps.

3. This amount is included in other Federal Reserve assets in table 1 and in other assets in table 5 and table 6.

4. Information on Principal Accounts of Maiden Lane LLC

Millions of dollars

Wednesday Account name May 13, 2015

Net portfolio holdings of Maiden Lane LLC1 1,697

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 March 31, 2015. Any assets purchased after

this valuation date are initially recorded at cost until their estimated fair value as of the purchase date becomes available.

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

consolidation under generally accepted accounting principles. Refer to the note on consolidation accompanying table 6.

3. Book value. The fair value of these obligations is included in other liabilities and capital in table 1 and in other liabilities and accrued dividends in

table 5 and table 6.

Note: On June 26, 2008, the Federal Reserve Bank of New York (FRBNY) extended credit to Maiden Lane LLC under the authority of section 13(3) of

the Federal Reserve Act. This limited liability company was formed to acquire certain assets of Bear Stearns and to manage those assets through time

to maximize repayment of the credit extended and to minimize disruption to financial markets. The remaining outstanding balances of the senior loan

from FRBNY to Maiden Lane LLC, and the subordinated loan from JPMorgan Chase & Co. to Maiden Lane LLC were repaid in full, with interest.
H.4.1

5. Consolidated Statement of Condition of All Federal Reserve Banks

Millions of dollars

Change since

Assets, liabilities, and capital Wednesday Wednesday Eliminations from

consolidation

Wednesday

May 13, 2015 May 6, 2015 May 14, 2014

Assets

Gold certificate account 11,037 0 0

Special drawing rights certificate account 5,200 0 0

Coin 1,820 + 9 - 96

Securities, unamortized premiums and discounts,

repurchase agreements, and loans 4,423,414 + 25,705 + 168,818

Securities held outright1 4,240,069 + 25,133 + 177,746

U.S. Treasury securities 2,460,334 + 152 + 99,006

Bills2 0 0 0

Notes and bonds, nominal2 2,346,643 0 + 96,271

Notes and bonds, inflation-indexed2 98,534 0 + 2,466

Inflation compensation3 15,157 + 152 + 269

Federal agency debt securities2 35,895 0 - 9,070

Mortgage-backed securities4 1,743,840 + 24,980 + 87,810

Unamortized premiums on securities held outright5 201,011 + 519 - 8,998

Unamortized discounts on securities held outright5 -17,750 + 30 + 114

Repurchase agreements6 0 0 0

Loans 85 + 24 - 44

Net portfolio holdings of Maiden Lane LLC7 1,697 + 11 + 41

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

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

Net portfolio holdings of TALF LLC9 0 0 - 91

Items in process of collection (0) 63 - 1 - 18

Bank premises 2,239 0 - 28

Central bank liquidity swaps10 0 0 - 300

Foreign currency denominated assets11 20,257 + 52 - 3,830

Other assets12 35,461 + 2,709 + 129

Total assets (0) 4,501,188 + 28,485 + 164,539

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

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

Millions of dollars

Change since

Assets, liabilities, and capital Wednesday Wednesday Eliminations from

consolidation

Wednesday

May 13, 2015 May 6, 2015 May 14, 2014

Liabilities

Federal Reserve notes, net of F.R. Bank holdings 1,320,021 + 393 + 87,964

Reverse repurchase agreements13 243,769 + 8,836 - 49,903

Deposits (0) 2,868,393 + 16,015 + 121,745

Term deposits held by depository institutions 0 0 0

Other deposits held by depository institutions 2,643,845 + 33,789 - 3,788

U.S. Treasury, General Account 205,392 - 23,739 + 142,438

Foreign official 5,231 + 1 - 2,546

Other14 (0) 13,925 + 5,964 - 14,359

Deferred availability cash items (0) 600 - 31 - 147

Other liabilities and accrued dividends15 10,328 + 2,929 + 3,108

Total liabilities (0) 4,443,111 + 28,142 + 162,768

Capital accounts

Capital paid in 29,039 + 172 + 886

Surplus 29,039 + 172 + 886

Other capital accounts 0 0 0

Total capital 58,077 + 343 + 1,772

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

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

2. Face value of the securities.

3. Compensation that adjusts for the effect of inflation on the original face value of inflation-indexed securities.

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

5. Reflects the premium or discount, which is the difference between the purchase price and the face value of the securities that has not been

amortized. For U.S. Treasury and Federal agency debt securities, amortization is on a straight-line basis. For mortgage-backed securities,

amortization is on an effective-interest basis.

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

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

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

orderly market on the measurement date. Refer to the note on consolidation accompanying table 6.

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

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

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

central bank.

11. Revalued daily at current foreign currency exchange rates.

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

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

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

financial market utilities.

15. Includes the liability for interest on Federal Reserve notes due to U.S. Treasury.
H.4.1

6. Statement of Condition of Each Federal Reserve Bank, May 13, 2015

Millions of dollars

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

Assets

Gold certificate account 11,037 347 3,709 340 505 783 1,600 734 299 171 288 891 1,370

Special drawing rights certificate acct. 5,200 196 1,818 210 237 412 654 424 150 90 153 282 574

Coin 1,820 33 66 126 125 294 190 272 23 46 148 182 315

Securities, unamortized premiums and

discounts, repurchase agreements,

and loans 4,423,414 112,135 2,655,378 110,016 106,347 240,247 249,096 164,364 46,129 26,942 57,469 142,492 512,800

Securities held outright1 4,240,069 107,484 2,545,364 105,458 101,941 230,293 238,767 157,537 44,218 25,786 55,081 136,586 491,553

U.S. Treasury securities 2,460,334 62,368 1,476,968 61,193 59,152 133,630 138,547 91,412 25,658 14,963 31,961 79,255 285,228

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

Notes and bonds3 2,460,334 62,368 1,476,968 61,193 59,152 133,630 138,547 91,412 25,658 14,963 31,961 79,255 285,228

Federal agency debt securities2 35,895 910 21,548 893 863 1,950 2,021 1,334 374 218 466 1,156 4,161

Mortgage-backed securities4 1,743,840 44,205 1,046,848 43,372 41,926 94,714 98,199 64,791 18,186 10,605 22,653 56,175 202,164

Unamortized premiums on securities 

held outright5 201,011 5,096 120,669 4,999 4,833 10,918 11,319 7,468 2,096 1,222 2,611 6,475 23,303

Unamortized discounts on securities 

held outright5 -17,750 -450 -10,656 -441 -427 -964 -1,000 -659 -185 -108 -231 -572 -2,058

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

Loans 85 6 0 0 0 0 9 18 0 41 8 2 1

Net portfolio holdings of Maiden

Lane LLC7 1,697 0 1,697 0 0 0 0 0 0 0 0 0 0

Net portfolio holdings of Maiden

Lane II LLC8 0 0 0 0 0 0 0 0 0 0 0 0 0

Net portfolio holdings of Maiden

Lane III LLC8 0 0 0 0 0 0 0 0 0 0 0 0 0

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

Items in process of collection 63 0 0 0 0 0 62 0 0 1 0 0 0

Bank premises 2,239 124 431 74 109 217 210 202 120 94 240 221 198

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

Foreign currency denominated

assets11 20,257 918 6,531 1,132 1,579 4,648 1,152 544 189 85 213 292 2,974

Other assets12 35,461 942 20,755 897 867 2,098 2,029 1,334 469 249 502 1,208 4,112

Interdistrict settlement account 0 + 7,145 - 74,076 + 4,965 + 18,272 + 53 - 10,667 + 4,489 + 3,450 + 4,558 + 4,271 + 9,645 + 27,895

Total assets 4,501,188 121,840 2,616,309 117,758 128,040 248,752 244,327 172,363 50,827 32,237 63,284 155,212 550,238

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

6. Statement of Condition of Each Federal Reserve Bank, May 13, 2015 (continued)

Millions of dollars

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

Liabilities

Federal Reserve notes outstanding 1,501,326 50,433 480,160 50,678 77,737 104,411 209,101 106,449 44,826 26,740 41,921 120,440 188,430

Less: Notes held by F.R. Banks 181,305 5,438 61,420 5,194 9,532 12,238 23,449 11,512 4,948 2,870 4,918 13,932 25,855

Federal Reserve notes, net 1,320,021 44,995 418,740 45,484 68,205 92,174 185,652 94,937 39,878 23,869 37,003 106,508 162,575

Reverse repurchase agreements13 243,769 6,179 146,338 6,063 5,861 13,240 13,727 9,057 2,542 1,483 3,167 7,853 28,260

Deposits 2,868,393 67,765 2,026,724 62,650 49,141 129,327 40,702 66,340 7,660 6,199 22,319 39,646 349,919

Term deposits held by depository

institutions 0 0 0 0 0 0 0 0 0 0 0 0 0

Other deposits held by depository

institutions 2,643,845 67,762 1,802,399 62,625 49,138 129,163 40,693 66,337 7,660 6,199 22,317 39,641 349,911

U.S. Treasury, General Account 205,392 0 205,392 0 0 0 0 0 0 0 0 0 0

Foreign official 5,231 2 5,204 2 3 9 2 1 0 0 0 1 6

Other14 13,925 2 13,729 22 0 155 7 2 0 0 1 5 2

Deferred availability cash items 600 0 0 0 0 0 337 0 0 263 0 0 0

Interest on Federal Reserve notes due

to U.S. Treasury15 2,229 59 1,292 61 57 132 138 92 23 13 30 74 259

Other liabilities and accrued

dividends 8,098 244 4,206 278 296 739 491 360 166 154 161 275 731

Total liabilities 4,443,111 119,242 2,597,300 114,536 123,560 235,612 241,047 170,786 50,270 31,981 62,679 154,355 541,743

Capital

Capital paid in 29,039 1,299 9,505 1,611 2,240 6,570 1,640 788 279 128 303 428 4,247

Surplus 29,039 1,299 9,505 1,611 2,240 6,570 1,640 788 279 128 303 428 4,247

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

Total liabilities and capital 4,501,188 121,840 2,616,309 117,758 128,040 248,752 244,327 172,363 50,827 32,237 63,284 155,212 550,238

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

6. Statement of Condition of Each Federal Reserve Bank, May 13, 2015 (continued)

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

2. Face value of the securities.

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

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

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

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

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

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

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

the note on consolidation below.

9. Refer to the note on consolidation below.

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

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

11. Revalued daily at current foreign currency exchange rates.

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

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

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

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

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

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

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

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

Note on consolidation:

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

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

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

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

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

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

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

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

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

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

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

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

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

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

1 and table 5).
H.4.1

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

Millions of dollars

Wednesday Federal Reserve notes and collateral May 13, 2015

Federal Reserve notes outstanding 1,501,326

Less: Notes held by F.R. Banks not subject to collateralization 181,305

Federal Reserve notes to be collateralized 1,320,021

Collateral held against Federal Reserve notes 1,320,021

Gold certificate account 11,037

Special drawing rights certificate account 5,200

U.S. Treasury, agency debt, and mortgage-backed securities pledged1,2 1,303,784

Other assets pledged 0

Memo:

Total U.S. Treasury, agency debt, and mortgage-backed securities1,2 4,240,069

Less: Face value of securities under reverse repurchase agreements 225,666

U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 4,014,402

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.