FEDERAL RESERVE statistical release

H.4.1

Factors Affecting Reserve Balances of Depository Institutions and

Condition Statement of Federal Reserve Banks May 21, 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 20, 2015 May 13, 2015 May 21, 2014

Wednesday

May 20, 2015

Reserve Bank credit 4,443,185 + 3,951 + 166,315 4,442,039

Securities held outright1 4,233,251 + 14,650 + 173,566 4,233,844

U.S. Treasury securities 2,460,430 + 152 + 97,246 2,460,486

Bills2 0 0 0 0

Notes and bonds, nominal2 2,346,643 0 + 94,518 2,346,643

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

Inflation compensation3 15,254 + 153 + 264 15,309

Federal agency debt securities2 35,895 0 - 8,187 35,895

Mortgage-backed securities4 1,736,926 + 14,498 + 84,507 1,737,463

Unamortized premiums on securities held outright5 200,593 + 172 - 9,311 200,464

Unamortized discounts on securities held outright5 -17,732 + 30 + 129 -17,719

Repurchase agreements6 120 + 120 + 120 620

Loans 93 + 21 - 45 95

Primary credit 4 0 - 10 4

Secondary credit 0 0 0 0

Seasonal credit 89 + 21 + 45 91

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

Other credit extensions 0 0 0 0

Net portfolio holdings of Maiden Lane LLC8 1,697 + 9 + 41 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 -424 + 51 + 187 -416

Central bank liquidity swaps11 0 0 - 300 0

Other Federal Reserve assets12 25,585 - 11,104 + 2,102 23,454

Foreign currency denominated assets13 20,150 + 66 - 3,951 19,796

Gold stock 11,041 0 0 11,041

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

Treasury currency outstanding14 46,769 + 14 + 907 46,769

Total factors supplying reserve funds 4,526,345 + 4,030 + 163,270 4,524,846

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 20, 2015 May 13, 2015 May 21, 2014

Wednesday

May 20, 2015

Currency in circulation14 1,364,128 + 472 + 88,681 1,366,219

Reverse repurchase agreements15 256,025 + 16,481 - 55,831 308,260

Foreign official and international accounts 154,324 + 4,750 + 47,931 153,915

Others 101,700 + 11,729 - 103,763 154,345

Treasury cash holdings 195 - 28 - 10 175

Deposits with F.R. Banks, other than reserve balances 204,493 - 28,137 + 150,960 196,962

Term deposits held by depository institutions 0 0 0 0

U.S. Treasury, General Account 181,641 - 34,570 + 143,896 173,749

Foreign official 5,239 + 3 - 2,556 5,231

Other16 17,614 + 6,431 + 9,622 17,982

Other liabilities and capital17 66,386 - 559 + 2,081 65,085

Total factors, other than reserve balances,

absorbing reserve funds 1,891,227 - 11,771 + 185,881 1,936,700

Reserve balances with Federal Reserve Banks 2,635,118 + 15,801 - 22,611 2,588,146

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 20, 2015 May 13, 2015 May 21, 2014

Wednesday

May 20, 2015

Securities held in custody for foreign official and international

accounts 3,324,628 + 8,031 + 52,405 3,321,464

Marketable U.S. Treasury securities1 2,989,773 + 3,485 + 52,363 2,987,685

Federal agency debt and mortgage-backed securities2 289,368 + 4,145 - 3,083 288,205

Other securities3 45,487 + 401 + 3,125 45,574

Securities lent to dealers 11,895 + 640 + 2,077 10,613

Overnight facility4 11,895 + 640 + 2,077 10,613

U.S. Treasury securities 11,628 + 653 + 2,756 10,348

Federal agency debt securities 266 - 14 - 680 265

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 20, 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 90 5 0 0 0 ... 95

U.S. Treasury securities1

Holdings 0 1,289 104,318 1,119,196 591,648 644,035 2,460,486

Weekly changes - 1,448 + 1,287 + 12,735 + 28,470 - 41,355 + 463 + 152

Federal agency debt securities2

Holdings 0 802 9,997 22,749 0 2,347 35,895

Weekly changes 0 0 + 2,000 - 2,000 0 0 0

Mortgage-backed securities3

Holdings 0 0 0 25 9,710 1,727,728 1,737,463

Weekly changes 0 0 0 0 + 196 - 6,572 - 6,377

Repurchase agreements4 620 0 ... ... ... ... 620

Central bank liquidity swaps5 0 0 0 0 0 0 0

Reverse repurchase agreements4 308,260 0 ... ... ... ... 308,260

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 20, 2015

Mortgage-backed securities held outright1 1,737,463

Commitments to buy mortgage-backed securities2 32,077

Commitments to sell mortgage-backed securities2 0

Cash and cash equivalents3 0

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 20, 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 20, 2015 May 13, 2015 May 21, 2014

Assets

Gold certificate account 11,037 0 0

Special drawing rights certificate account 5,200 0 0

Coin 1,816 - 4 - 78

Securities, unamortized premiums and discounts,

repurchase agreements, and loans 4,417,304 - 6,110 + 157,981

Securities held outright1 4,233,844 - 6,225 + 166,711

U.S. Treasury securities 2,460,486 + 152 + 93,250

Bills2 0 0 0

Notes and bonds, nominal2 2,346,643 0 + 90,524

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

Inflation compensation3 15,309 + 152 + 260

Federal agency debt securities2 35,895 0 - 8,187

Mortgage-backed securities4 1,737,463 - 6,377 + 81,648

Unamortized premiums on securities held outright5 200,464 - 547 - 9,471

Unamortized discounts on securities held outright5 -17,719 + 31 + 174

Repurchase agreements6 620 + 620 + 620

Loans 95 + 10 - 52

Net portfolio holdings of Maiden Lane LLC7 1,697 0 + 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) 81 + 18 - 8

Bank premises 2,241 + 2 - 28

Central bank liquidity swaps10 0 0 - 300

Foreign currency denominated assets11 19,796 - 461 - 4,254

Other assets12 21,213 - 14,248 - 353

Total assets (0) 4,480,384 - 20,804 + 152,824

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 20, 2015 May 13, 2015 May 21, 2014

Liabilities

Federal Reserve notes, net of F.R. Bank holdings 1,321,436 + 1,415 + 87,845

Reverse repurchase agreements13 308,260 + 64,491 - 16,441

Deposits (0) 2,785,107 - 83,286 + 79,870

Term deposits held by depository institutions 0 0 0

Other deposits held by depository institutions 2,588,146 - 55,699 - 69,987

U.S. Treasury, General Account 173,749 - 31,643 + 142,621

Foreign official 5,231 0 - 2,546

Other14 (0) 17,982 + 4,057 + 9,784

Deferred availability cash items (0) 497 - 103 - 156

Other liabilities and accrued dividends15 6,985 - 3,343 - 51

Total liabilities (0) 4,422,284 - 20,827 + 151,067

Capital accounts

Capital paid in 29,050 + 11 + 878

Surplus 29,050 + 11 + 878

Other capital accounts 0 0 0

Total capital 58,101 + 24 + 1,758

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 20, 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 1,816 34 65 128 122 295 188 269 23 46 146 186 314

Securities, unamortized premiums and

discounts, repurchase agreements,

and loans 4,417,304 111,976 2,651,704 109,863 106,200 239,914 248,756 164,136 46,069 26,906 57,391 142,296 512,092

Securities held outright1 4,233,844 107,326 2,541,627 105,303 101,792 229,955 238,417 157,306 44,153 25,749 55,000 136,386 490,832

U.S. Treasury securities 2,460,486 62,372 1,477,059 61,196 59,156 133,638 138,555 91,418 25,659 14,964 31,963 79,260 285,245

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

Notes and bonds3 2,460,486 62,372 1,477,059 61,196 59,156 133,638 138,555 91,418 25,659 14,964 31,963 79,260 285,245

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 1,737,463 44,044 1,043,020 43,214 41,773 94,368 97,840 64,554 18,119 10,567 22,571 55,969 201,425

Unamortized premiums on securities 

held outright5 200,464 5,082 120,341 4,986 4,820 10,888 11,289 7,448 2,091 1,219 2,604 6,458 23,240

Unamortized discounts on securities 

held outright5 -17,719 -449 -10,637 -441 -426 -962 -998 -658 -185 -108 -230 -571 -2,054

Repurchase agreements6 620 16 372 15 15 34 35 23 6 4 8 20 72

Loans 95 2 0 0 0 0 14 17 4 42 9 3 3

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 81 0 0 0 0 0 80 0 0 1 0 0 0

Bank premises 2,241 125 432 74 109 217 210 201 120 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 19,796 897 6,383 1,106 1,543 4,542 1,126 532 184 83 208 285 2,906

Other assets12 21,213 581 12,197 542 525 1,327 1,210 796 322 163 317 775 2,459

Interdistrict settlement account 0 + 11,341 - 74,755 + 6,573 + 14,749 + 7,191 - 10,221 + 8,019 + 3,761 + 4,579 + 4,557 + 8,233 + 15,974

Total assets 4,480,384 125,497 2,603,250 118,837 123,989 254,681 243,603 175,111 50,928 32,132 63,300 153,169 535,887

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 20, 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 1,502,591 50,408 481,761 50,891 78,431 104,378 208,718 106,437 44,799 26,745 41,911 120,197 187,913

Less: Notes held by F.R. Banks 181,155 5,330 62,239 5,356 9,368 12,217 23,207 11,344 4,800 2,875 4,750 14,009 25,660

Federal Reserve notes, net 1,321,436 45,079 419,521 45,535 69,064 92,161 185,512 95,093 39,999 23,871 37,161 106,188 162,253

Reverse repurchase agreements13 308,260 7,814 185,052 7,667 7,411 16,743 17,359 11,453 3,215 1,875 4,004 9,930 35,737

Deposits 2,785,107 69,796 1,976,059 62,173 42,782 132,035 36,697 66,661 7,001 5,792 21,384 35,937 328,789

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 2,588,146 69,792 1,779,312 62,134 42,779 131,891 36,688 66,658 7,000 5,792 21,383 35,935 328,781

U.S. Treasury, General Account 173,749 0 173,749 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 17,982 3 17,795 37 0 135 7 2 0 0 1 1 2

Deferred availability cash items 497 0 0 0 0 0 303 0 0 194 0 0 0

Interest on Federal Reserve notes due

to U.S. Treasury15 1,225 19 891 12 0 -21 72 46 10 5 16 49 126

Other liabilities and accrued

dividends 5,759 189 2,713 227 247 623 380 281 141 140 129 206 484

Total liabilities 4,422,284 122,897 2,584,237 115,614 119,503 241,540 240,323 173,534 50,365 31,876 62,695 152,311 527,389

Capital

Capital paid in 29,050 1,300 9,507 1,612 2,243 6,571 1,640 788 281 128 303 429 4,249

Surplus 29,050 1,300 9,507 1,612 2,243 6,571 1,640 788 281 128 303 429 4,249

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

Total liabilities and capital 4,480,384 125,497 2,603,250 118,837 123,989 254,681 243,603 175,111 50,928 32,132 63,300 153,169 535,887

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 20, 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 20, 2015

Federal Reserve notes outstanding 1,502,591

Less: Notes held by F.R. Banks not subject to collateralization 181,155

Federal Reserve notes to be collateralized 1,321,436

Collateral held against Federal Reserve notes 1,321,436

Gold certificate account 11,037

Special drawing rights certificate account 5,200

U.S. Treasury, agency debt, and mortgage-backed securities pledged1,2 1,305,199

Other assets pledged 0

Memo:

Total U.S. Treasury, agency debt, and mortgage-backed securities1,2 4,234,464

Less: Face value of securities under reverse repurchase agreements 286,286

U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 3,948,178

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.