FEDERAL RESERVE statistical release

H.4.1

Factors Affecting Reserve Balances of Depository Institutions and

Condition Statement of Federal Reserve Banks March 12, 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

Mar 11, 2015 Mar 4, 2015 Mar 12, 2014

Wednesday

Mar 11, 2015

Reserve Bank credit 4,450,384 + 1,684 + 315,841 4,451,160

Securities held outright1 4,237,058 - 124 + 322,549 4,237,037

U.S. Treasury securities 2,459,952 - 130 + 166,977 2,459,908

Bills2 0 0 0 0

Notes and bonds, nominal2 2,346,711 0 + 160,807 2,346,711

Notes and bonds, inflation-indexed2 98,469 0 + 4,861 98,469

Inflation compensation3 14,772 - 130 + 1,310 14,728

Federal agency debt securities2 36,877 0 - 14,534 36,877

Mortgage-backed securities4 1,740,229 + 6 + 170,106 1,740,252

Unamortized premiums on securities held outright5 204,046 - 364 - 4,866 203,921

Unamortized discounts on securities held outright5 -18,072 + 32 - 1,959 -18,061

Repurchase agreements6 0 0 0 0

Loans 18 - 1 - 87 9

Primary credit 12 - 3 + 6 1

Secondary credit 0 0 0 0

Seasonal credit 6 + 2 + 1 8

Term Asset-Backed Securities Loan Facility7 0 0 - 95 0

Other credit extensions 0 0 0 0

Net portfolio holdings of Maiden Lane LLC8 1,687 + 1 + 105 1,692

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 - 105 0

Float -493 - 63 + 182 -594

Central bank liquidity swaps11 2 + 2 - 455 2

Other Federal Reserve assets12 26,139 + 2,202 + 563 27,153

Foreign currency denominated assets13 19,518 - 499 - 4,592 19,226

Gold stock 11,041 0 0 11,041

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

Treasury currency outstanding14 46,441 + 14 + 739 46,441

Total factors supplying reserve funds 4,532,585 + 1,200 + 311,989 4,533,068

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

Mar 11, 2015 Mar 4, 2015 Mar 12, 2014

Wednesday

Mar 11, 2015

Currency in circulation14 1,354,813 + 2,587 + 94,680 1,356,049

Reverse repurchase agreements15 263,957 - 50,402 + 104,374 265,299

Foreign official and international accounts 132,374 - 590 + 35,588 130,910

Others 131,583 - 49,812 + 68,786 134,389

Treasury cash holdings 212 - 4 - 60 210

Deposits with F.R. Banks, other than reserve balances 160,516 - 117,417 + 75,718 155,037

Term deposits held by depository institutions 107,229 - 108,838 + 93,687 107,229

U.S. Treasury, General Account 39,431 - 10,372 - 16,710 27,237

Foreign official 5,223 + 1 - 1,621 5,236

Other16 8,633 + 1,793 + 363 15,334

Other liabilities and capital17 64,830 + 274 + 1,040 63,780

Total factors, other than reserve balances,

absorbing reserve funds 1,844,328 - 164,962 + 275,753 1,840,375

Reserve balances with Federal Reserve Banks 2,688,257 + 166,162 + 36,236 2,692,693

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

Mar 11, 2015 Mar 4, 2015 Mar 12, 2014

Wednesday

Mar 11, 2015

Securities held in custody for foreign official and international

accounts 3,247,938 - 7,635 - 25,791 3,234,307

Marketable U.S. Treasury securities1 2,919,570 - 8,420 - 2,429 2,906,153

Federal agency debt and mortgage-backed securities2 284,803 + 522 - 21,770 284,553

Other securities3 43,564 + 262 - 1,592 43,602

Securities lent to dealers 12,135 - 406 + 463 11,451

Overnight facility4 12,135 - 406 + 463 11,451

U.S. Treasury securities 11,656 - 423 + 1,398 10,988

Federal agency debt securities 479 + 17 - 934 463

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, March 11, 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 5 4 0 0 0 ... 9

U.S. Treasury securities1

Holdings 1 1,900 40,235 1,125,205 649,278 643,289 2,459,908

Weekly changes 0 0 0 - 17 - 24 - 79 - 120

Federal agency debt securities2

Holdings 0 982 4,577 28,971 0 2,347 36,877

Weekly changes 0 0 0 0 0 0 0

Mortgage-backed securities3

Holdings 0 0 0 16 8,510 1,731,726 1,740,252

Weekly changes 0 0 0 0 0 + 27 + 27

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

Central bank liquidity swaps5 2 0 0 0 0 0 2

Reverse repurchase agreements4 265,299 0 ... ... ... ... 265,299

Term deposits 107,229 0 0 ... ... ... 107,229

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 Mar 11, 2015

Mortgage-backed securities held outright1 1,740,252

Commitments to buy mortgage-backed securities2 35,630

Commitments to sell mortgage-backed securities2 0

Cash and cash equivalents3 39

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 Mar 11, 2015

Net portfolio holdings of Maiden Lane LLC1 1,692

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 December 31, 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

Mar 11, 2015 Mar 4, 2015 Mar 12, 2014

Assets

Gold certificate account 11,037 0 0

Special drawing rights certificate account 5,200 0 0

Coin 1,860 - 10 - 107

Securities, unamortized premiums and discounts,

repurchase agreements, and loans 4,422,906 - 402 + 312,808

Securities held outright1 4,237,037 - 93 + 319,559

U.S. Treasury securities 2,459,908 - 120 + 163,970

Bills2 0 0 0

Notes and bonds, nominal2 2,346,711 0 + 157,876

Notes and bonds, inflation-indexed2 98,469 0 + 4,861

Inflation compensation3 14,728 - 121 + 1,233

Federal agency debt securities2 36,877 0 - 14,534

Mortgage-backed securities4 1,740,252 + 27 + 170,123

Unamortized premiums on securities held outright5 203,921 - 330 - 4,876

Unamortized discounts on securities held outright5 -18,061 + 30 - 1,779

Repurchase agreements6 0 0 0

Loans 9 - 9 - 95

Net portfolio holdings of Maiden Lane LLC7 1,692 + 6 + 107

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 - 105

Items in process of collection (0) 202 - 8 + 111

Bank premises 2,248 + 1 - 27

Central bank liquidity swaps10 2 + 2 - 455

Foreign currency denominated assets11 19,226 - 650 - 4,960

Other assets12 24,905 + 2,758 + 630

Total assets (0) 4,489,279 + 1,696 + 307,918

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

Mar 11, 2015 Mar 4, 2015 Mar 12, 2014

Liabilities

Federal Reserve notes, net of F.R. Bank holdings 1,311,673 + 1,250 + 93,104

Reverse repurchase agreements13 265,299 - 11,869 + 103,672

Deposits (0) 2,847,730 + 12,639 + 110,092

Term deposits held by depository institutions 107,229 - 108,838 + 93,687

Other deposits held by depository institutions 2,692,693 + 138,024 + 30,007

U.S. Treasury, General Account 27,237 - 25,209 - 15,560

Foreign official 5,236 + 24 - 1,334

Other14 (0) 15,334 + 8,637 + 3,291

Deferred availability cash items (0) 796 + 130 - 26

Other liabilities and accrued dividends15 6,203 - 464 - 426

Total liabilities (0) 4,431,702 + 1,688 + 306,417

Capital accounts

Capital paid in 28,788 + 3 + 750

Surplus 28,788 + 3 + 750

Other capital accounts 0 0 0

Total capital 57,577 + 8 + 1,501

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, March 11, 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 1,860 40 71 133 120 305 187 278 19 46 153 181 326

Securities, unamortized premiums and

discounts, repurchase agreements,

and loans 4,422,906 89,471 2,714,613 105,959 96,567 247,199 244,495 180,771 54,553 27,108 58,260 134,767 469,141

Securities held outright1 4,237,037 85,708 2,600,539 101,506 92,509 236,811 234,221 173,174 52,261 25,966 55,812 129,104 449,427

U.S. Treasury securities 2,459,908 49,760 1,509,802 58,932 53,708 137,486 135,982 100,540 30,341 15,075 32,403 74,954 260,925

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

Notes and bonds3 2,459,908 49,760 1,509,802 58,932 53,708 137,486 135,982 100,540 30,341 15,075 32,403 74,954 260,925

Federal agency debt securities2 36,877 746 22,634 883 805 2,061 2,039 1,507 455 226 486 1,124 3,912

Mortgage-backed securities4 1,740,252 35,202 1,068,103 41,691 37,996 97,264 96,200 71,127 21,465 10,665 22,923 53,026 184,590

Unamortized premiums on securities 

held outright5 203,921 4,125 125,159 4,885 4,452 11,397 11,273 8,335 2,515 1,250 2,686 6,214 21,630

Unamortized discounts on securities 

held outright5 -18,061 -365 -11,085 -433 -394 -1,009 -998 -738 -223 -111 -238 -550 -1,916

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

Loans 9 4 0 0 0 0 0 1 0 3 1 0 0

Net portfolio holdings of Maiden

Lane LLC7 1,692 0 1,692 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 202 0 0 0 0 0 201 1 0 0 0 0 0

Bank premises 2,248 124 432 75 110 219 210 201 121 95 240 222 200

Central bank liquidity swaps10 2 0 1 0 0 0 0 0 0 0 0 0 0

Foreign currency denominated

assets11 19,226 872 6,199 1,074 1,499 4,411 1,094 516 179 81 202 277 2,823

Other assets12 24,905 546 14,709 604 553 1,557 1,401 1,024 519 181 356 815 2,640

Interdistrict settlement account 0 + 25,302 - 228,466 + 13,267 + 36,265 + 14,746 + 6,637 - 5,726 - 39 + 6,691 + 9,608 + 26,994 + 94,721

Total assets 4,489,279 116,902 2,515,194 121,659 135,816 269,674 256,228 178,196 55,780 34,465 69,264 164,418 571,683

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, March 11, 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 1,494,413 50,377 473,519 49,545 72,653 104,956 211,321 105,878 44,694 26,536 42,036 121,893 191,006

Less: Notes held by F.R. Banks 182,740 5,199 65,460 5,651 10,081 12,311 22,268 11,591 4,541 3,332 5,399 13,089 23,816

Federal Reserve notes, net 1,311,673 45,178 408,058 43,895 62,571 92,645 189,053 94,287 40,153 23,204 36,636 108,803 167,190

Reverse repurchase agreements13 265,299 5,367 162,831 6,356 5,792 14,828 14,666 10,843 3,272 1,626 3,495 8,084 28,141

Deposits 2,847,730 63,626 1,922,116 67,999 62,802 148,598 48,367 71,219 11,672 8,966 28,402 46,478 367,484

Term deposits held by depository

institutions 107,229 35 49,762 27,870 100 1,017 425 5,020 25 0 775 650 21,550

Other deposits held by depository

institutions 2,692,693 63,586 1,824,784 40,102 62,699 147,419 47,931 66,185 11,646 8,966 27,626 45,827 345,924

U.S. Treasury, General Account 27,237 0 27,237 0 0 0 0 0 0 0 0 0 0

Foreign official 5,236 2 5,209 2 3 9 2 1 0 0 0 1 6

Other14 15,334 3 15,124 25 0 153 9 13 0 0 1 1 4

Deferred availability cash items 796 0 0 0 0 0 506 0 0 289 0 0 0

Interest on Federal Reserve notes due

to U.S. Treasury15 1,426 10 1,095 11 -8 -20 68 65 17 9 16 49 111

Other liabilities and accrued

dividends16 4,778 139 2,390 184 193 495 299 237 122 129 112 168 310

Total liabilities 4,431,702 114,320 2,496,491 118,445 131,352 256,544 252,960 176,651 55,236 34,224 68,661 163,583 563,236

Capital

Capital paid in 28,788 1,291 9,352 1,607 2,232 6,565 1,634 772 272 121 301 418 4,224

Surplus 28,788 1,291 9,352 1,607 2,232 6,565 1,634 772 272 121 301 418 4,224

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

Total liabilities and capital 4,489,279 116,902 2,515,194 121,659 135,816 269,674 256,228 178,196 55,780 34,465 69,264 164,418 571,683

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, March 11, 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 Mar 11, 2015

Federal Reserve notes outstanding 1,494,413

Less: Notes held by F.R. Banks not subject to collateralization 182,740

Federal Reserve notes to be collateralized 1,311,673

Collateral held against Federal Reserve notes 1,311,673

Gold certificate account 11,037

Special drawing rights certificate account 5,200

U.S. Treasury, agency debt, and mortgage-backed securities pledged1,2 1,295,437

Other assets pledged 0

Memo:

Total U.S. Treasury, agency debt, and mortgage-backed securities1,2 4,237,037

Less: Face value of securities under reverse repurchase agreements 243,740

U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 3,993,296

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.