FEDERAL RESERVE statistical release

H.4.1

Factors Affecting Reserve Balances of Depository Institutions and

Condition Statement of Federal Reserve Banks January 22, 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

Jan 21, 2015 Jan 14, 2015 Jan 22, 2014

Wednesday

Jan 21, 2015

Reserve Bank credit 4,467,681 + 5,409 + 422,565 4,473,381

Securities held outright1 4,243,575 + 4,796 + 427,623 4,249,065

U.S. Treasury securities 2,460,987 - 149 + 232,941 2,460,944

Bills2 0 0 0 0

Notes and bonds, nominal2 2,346,712 0 + 224,692 2,346,712

Notes and bonds, inflation-indexed2 98,469 0 + 5,854 98,469

Inflation compensation3 15,806 - 149 + 2,396 15,764

Federal agency debt securities2 37,588 - 1,089 - 17,323 37,588

Mortgage-backed securities4 1,745,000 + 6,033 + 212,005 1,750,532

Unamortized premiums on securities held outright5 206,323 - 26 - 2,736 206,458

Unamortized discounts on securities held outright5 -18,305 + 39 - 4,977 -18,295

Repurchase agreements6 0 0 0 0

Loans 101 + 70 - 19 155

Primary credit 91 + 69 + 85 143

Secondary credit 0 0 0 0

Seasonal credit 10 + 1 - 7 12

Term Asset-Backed Securities Loan Facility7 0 0 - 97 0

Other credit extensions 0 0 0 0

Net portfolio holdings of Maiden Lane LLC8 1,680 + 2 + 137 1,680

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 - 107 0

Float -413 + 20 + 159 -590

Central bank liquidity swaps11 10 + 10 - 250 10

Other Federal Reserve assets12 34,709 + 497 + 2,819 34,898

Foreign currency denominated assets13 20,532 - 242 - 3,132 20,557

Gold stock 11,041 0 0 11,041

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

Treasury currency outstanding14 46,397 + 14 + 826 46,397

Total factors supplying reserve funds 4,550,850 + 5,180 + 420,259 4,556,575

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

Jan 21, 2015 Jan 14, 2015 Jan 22, 2014

Wednesday

Jan 21, 2015

Currency in circulation14 1,330,796 - 2,028 + 104,539 1,330,826

Reverse repurchase agreements15 248,226 + 30,789 + 63,938 280,314

Foreign official and international accounts 111,779 + 7,730 + 4,065 112,545

Others 136,447 + 23,059 + 59,872 167,769

Treasury cash holdings 206 + 2 - 49 219

Deposits with F.R. Banks, other than reserve balances 185,360 + 8,010 + 52,083 210,449

Term deposits held by depository institutions 0 0 - 12,822 0

U.S. Treasury, General Account 170,152 + 11,884 + 92,354 196,231

Foreign official 5,221 + 6 - 2,829 5,212

Other16 9,987 - 3,879 - 24,619 9,006

Other liabilities and capital17 63,871 - 81 + 248 63,064

Total factors, other than reserve balances,

absorbing reserve funds 1,828,458 + 36,691 + 220,756 1,884,871

Reserve balances with Federal Reserve Banks 2,722,392 - 31,511 + 199,502 2,671,704

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

Jan 21, 2015 Jan 14, 2015 Jan 22, 2014

Wednesday

Jan 21, 2015

Securities held in custody for foreign official and international

accounts 3,284,501 - 15,612 - 60,178 3,286,077

Marketable U.S. Treasury securities1 2,954,360 - 12,950 - 39,789 2,957,685

Federal agency debt and mortgage-backed securities2 288,362 - 2,985 - 18,157 286,343

Other securities3 41,778 + 323 - 2,232 42,050

Securities lent to dealers 10,807 + 578 - 418 12,330

Overnight facility4 10,807 + 578 - 418 12,330

U.S. Treasury securities 10,306 + 610 + 36 11,808

Federal agency debt securities 501 - 32 - 455 522

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, January 21, 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 155 0 0 0 0 ... 155

U.S. Treasury securities1

Holdings 0 6 3,514 1,113,942 693,755 649,728 2,460,944

Weekly changes 0 + 1 - 2 - 20 + 8,238 - 8,356 - 140

Federal agency debt securities2

Holdings 0 1,693 4,577 28,971 0 2,347 37,588

Weekly changes - 1,089 + 982 + 644 - 1,626 0 0 - 1,089

Mortgage-backed securities3

Holdings 0 0 0 14 6,848 1,743,671 1,750,532

Weekly changes 0 0 0 0 + 317 - 1,517 - 1,202

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

Central bank liquidity swaps5 10 0 0 0 0 0 10

Reverse repurchase agreements4 280,314 0 ... ... ... ... 280,314

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 Jan 21, 2015

Mortgage-backed securities held outright1 1,750,532

Commitments to buy mortgage-backed securities2 17,764

Commitments to sell mortgage-backed securities2 377

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 Jan 21, 2015

Net portfolio holdings of Maiden Lane LLC1 1,680

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 September 30, 2014. Any assets purchased after

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

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

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

Jan 21, 2015 Jan 14, 2015 Jan 22, 2014

Assets

Gold certificate account 11,037 0 0

Special drawing rights certificate account 5,200 0 0

Coin 1,928 + 20 - 72

Securities, unamortized premiums and discounts,

repurchase agreements, and loans 4,437,383 - 2,557 + 415,750

Securities held outright1 4,249,065 - 2,430 + 423,257

U.S. Treasury securities 2,460,944 - 140 + 229,514

Bills2 0 0 0

Notes and bonds, nominal2 2,346,712 0 + 221,292

Notes and bonds, inflation-indexed2 98,469 0 + 5,854

Inflation compensation3 15,764 - 140 + 2,369

Federal agency debt securities2 37,588 - 1,089 - 17,323

Mortgage-backed securities4 1,750,532 - 1,202 + 211,065

Unamortized premiums on securities held outright5 206,458 - 289 - 2,767

Unamortized discounts on securities held outright5 -18,295 + 37 - 4,774

Repurchase agreements6 0 0 0

Loans 155 + 124 + 34

Net portfolio holdings of Maiden Lane LLC7 1,680 0 + 134

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 - 108

Items in process of collection (0) 243 + 82 + 43

Bank premises 2,262 + 2 - 24

Central bank liquidity swaps10 10 + 10 - 250

Foreign currency denominated assets11 20,557 - 314 - 3,086

Other assets12 32,636 - 384 + 2,719

Total assets (0) 4,512,936 - 3,141 + 415,022

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

Jan 21, 2015 Jan 14, 2015 Jan 22, 2014

Liabilities

Federal Reserve notes, net of F.R. Bank holdings 1,286,572 - 8 + 103,900

Reverse repurchase agreements13 280,314 + 76,595 + 78,360

Deposits (0) 2,882,153 - 77,567 + 232,755

Term deposits held by depository institutions 0 0 - 12,822

Other deposits held by depository institutions 2,671,704 - 88,680 + 176,973

U.S. Treasury, General Account 196,231 + 36,501 + 99,507

Foreign official 5,212 - 22 - 2,848

Other14 (0) 9,006 - 25,365 - 28,055

Deferred availability cash items (0) 834 + 238 - 290

Other liabilities and accrued dividends15 5,917 - 2,397 - 1,817

Total liabilities (0) 4,455,789 - 3,140 + 412,906

Capital accounts

Capital paid in 28,574 0 + 1,059

Surplus 28,574 0 + 1,059

Other capital accounts 0 0 0

Total capital 57,147 - 1 + 2,116

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, January 21, 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 11,037 352 4,125 338 464 824 1,349 706 278 173 291 880 1,257

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

Coin 1,928 35 82 130 122 313 207 284 23 46 156 192 337

Securities, unamortized premiums and

discounts, repurchase agreements,

and loans 4,437,383 89,757 2,723,489 106,302 96,880 248,000 245,288 181,374 54,730 27,199 58,454 135,208 470,701

Securities held outright1 4,249,065 85,951 2,607,921 101,795 92,772 237,483 234,886 173,665 52,409 26,040 55,970 129,470 450,703

U.S. Treasury securities 2,460,944 49,781 1,510,438 58,957 53,731 137,544 136,040 100,582 30,354 15,082 32,416 74,986 261,035

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

Notes and bonds3 2,460,944 49,781 1,510,438 58,957 53,731 137,544 136,040 100,582 30,354 15,082 32,416 74,986 261,035

Federal agency debt securities2 37,588 760 23,070 900 821 2,101 2,078 1,536 464 230 495 1,145 3,987

Mortgage-backed securities4 1,750,532 35,410 1,074,413 41,937 38,220 97,838 96,768 71,547 21,592 10,728 23,059 53,339 185,681

Unamortized premiums on securities 

held outright5 206,458 4,176 126,716 4,946 4,508 11,539 11,413 8,438 2,547 1,265 2,720 6,291 21,899

Unamortized discounts on securities 

held outright5 -18,295 -370 -11,229 -438 -399 -1,023 -1,011 -748 -226 -112 -241 -557 -1,941

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

Loans 155 0 80 0 0 0 1 18 0 7 5 4 40

Net portfolio holdings of Maiden

Lane LLC7 1,680 0 1,680 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 243 0 0 0 0 0 243 0 0 1 0 0 0

Bank premises 2,262 126 437 75 110 220 212 200 122 96 241 223 201

Central bank liquidity swaps10 10 0 3 1 1 2 1 0 0 0 0 0 1

Foreign currency denominated

assets11 20,557 935 6,613 1,545 1,635 4,286 1,182 568 173 87 216 344 2,974

Other assets12 32,636 699 19,765 783 717 1,968 1,787 1,316 459 228 458 1,060 3,396

Interdistrict settlement account 0 + 24,322 - 59,136 - 7,160 + 13,474 - 13,469 - 8,153 - 14,343 - 6,184 + 3,008 + 4,101 + 12,036 + 51,504

Total assets 4,512,936 116,422 2,698,876 102,224 113,639 242,556 242,770 170,529 49,751 30,928 64,070 150,224 530,947

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, January 21, 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 1,477,156 47,311 474,331 47,624 70,039 103,781 212,818 101,722 42,376 24,862 39,872 121,341 191,079

Less: Notes held by F.R. Banks 190,584 5,423 62,384 5,815 9,828 12,387 25,213 11,801 5,430 3,185 5,066 16,080 27,973

Federal Reserve notes, net 1,286,572 41,888 411,947 41,809 60,210 91,394 187,605 89,922 36,946 21,678 34,806 105,261 163,106

Reverse repurchase agreements13 280,314 5,670 172,047 6,715 6,120 15,667 15,496 11,457 3,457 1,718 3,692 8,541 29,733

Deposits 2,882,153 66,098 2,093,588 50,290 42,646 121,848 35,279 67,289 8,666 7,058 24,840 35,354 329,196

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 2,671,704 66,094 1,883,275 50,262 42,643 121,785 35,270 67,276 8,666 7,058 24,839 35,349 329,186

U.S. Treasury, General Account 196,231 0 196,231 0 0 0 0 0 0 0 0 0 0

Foreign official 5,212 2 5,184 3 3 8 2 1 0 0 0 1 6

Other14 9,006 2 8,898 24 0 54 7 12 0 0 1 4 4

Deferred availability cash items 834 0 0 0 0 0 734 0 0 100 0 0 0

Interest on Federal Reserve notes due

to U.S. Treasury15 1,102 16 818 16 -3 30 46 36 16 3 -4 40 88

Other liabilities and accrued

dividends16 4,815 158 2,061 200 205 502 359 290 132 132 136 207 433

Total liabilities 4,455,789 113,831 2,680,460 99,031 109,178 229,441 239,518 168,994 49,218 30,688 63,471 149,402 522,556

Capital

Capital paid in 28,574 1,296 9,208 1,597 2,230 6,557 1,626 768 267 120 300 411 4,195

Surplus 28,574 1,296 9,208 1,597 2,230 6,557 1,626 768 267 120 300 411 4,195

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

Total liabilities and capital 4,512,936 116,422 2,698,876 102,224 113,639 242,556 242,770 170,529 49,751 30,928 64,070 150,224 530,947

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, January 21, 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 Jan 21, 2015

Federal Reserve notes outstanding 1,477,156

Less: Notes held by F.R. Banks not subject to collateralization 190,584

Federal Reserve notes to be collateralized 1,286,572

Collateral held against Federal Reserve notes 1,286,572

Gold certificate account 11,037

Special drawing rights certificate account 5,200

U.S. Treasury, agency debt, and mortgage-backed securities pledged1,2 1,270,335

Other assets pledged 0

Memo:

Total U.S. Treasury, agency debt, and mortgage-backed securities1,2 4,249,065

Less: Face value of securities under reverse repurchase agreements 247,372

U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 4,001,693

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.