FEDERAL RESERVE statistical release

H.4.1

Factors Affecting Reserve Balances of Depository Institutions and

Condition Statement of Federal Reserve Banks May 28, 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 27, 2015 May 20, 2015 May 28, 2014

Wednesday

May 27, 2015

Reserve Bank credit 4,438,189 - 4,996 + 153,571 4,425,675

Securities held outright1 4,229,726 - 3,525 + 163,539 4,218,968

U.S. Treasury securities 2,460,592 + 162 + 92,076 2,460,639

Bills2 0 0 0 0

Notes and bonds, nominal2 2,346,643 0 + 89,356 2,346,643

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

Inflation compensation3 15,415 + 161 + 254 15,462

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

Mortgage-backed securities4 1,733,239 - 3,687 + 79,650 1,722,434

Unamortized premiums on securities held outright5 200,083 - 510 - 9,569 199,646

Unamortized discounts on securities held outright5 -17,696 + 36 + 221 -17,681

Repurchase agreements6 0 - 120 0 0

Loans 97 + 4 - 51 96

Primary credit 2 - 2 - 13 5

Secondary credit 0 0 0 0

Seasonal credit 95 + 6 + 42 91

Term Asset-Backed Securities Loan Facility7 0 0 - 79 0

Other credit extensions 0 0 0 0

Net portfolio holdings of Maiden Lane LLC8 1,697 0 + 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 -416 + 8 + 112 -753

Central bank liquidity swaps11 2 + 2 - 172 2

Other Federal Reserve assets12 24,697 - 888 - 373 23,700

Foreign currency denominated assets13 19,671 - 479 - 4,306 19,434

Gold stock 11,041 0 0 11,041

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

Treasury currency outstanding14 46,783 + 14 + 905 46,783

Total factors supplying reserve funds 4,520,885 - 5,460 + 150,172 4,508,133

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 27, 2015 May 20, 2015 May 28, 2014

Wednesday

May 27, 2015

Currency in circulation14 1,368,341 + 4,213 + 87,874 1,369,717

Reverse repurchase agreements15 269,256 + 13,231 - 23,385 278,637

Foreign official and international accounts 154,225 - 99 + 46,553 149,809

Others 115,031 + 13,331 - 69,938 128,828

Treasury cash holdings 173 - 22 - 30 160

Deposits with F.R. Banks, other than reserve balances 306,384 + 101,891 + 202,634 257,604

Term deposits held by depository institutions 79,919 + 79,919 + 52,344 79,919

U.S. Treasury, General Account 175,577 - 6,064 + 142,004 163,581

Foreign official 5,256 + 17 - 2,530 5,232

Other16 45,633 + 28,019 + 10,817 8,872

Other liabilities and capital17 65,940 - 446 + 1,487 65,094

Total factors, other than reserve balances,

absorbing reserve funds 2,010,094 + 118,867 + 268,580 1,971,213

Reserve balances with Federal Reserve Banks 2,510,791 - 124,327 - 118,408 2,536,919

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 27, 2015 May 20, 2015 May 28, 2014

Wednesday

May 27, 2015

Securities held in custody for foreign official and international

accounts 3,326,742 + 2,114 + 47,852 3,338,678

Marketable U.S. Treasury securities1 2,993,796 + 4,023 + 50,459 3,007,099

Federal agency debt and mortgage-backed securities2 287,786 - 1,582 - 6,054 287,604

Other securities3 45,161 - 326 + 3,449 43,975

Securities lent to dealers 10,818 - 1,077 + 1,279 11,100

Overnight facility4 10,818 - 1,077 + 1,279 11,100

U.S. Treasury securities 10,542 - 1,086 + 2,045 10,833

Federal agency debt securities 275 + 9 - 767 267

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 27, 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 7 0 0 0 ... 96

U.S. Treasury securities1

Holdings 0 1,289 104,319 1,119,218 591,678 644,136 2,460,639

Weekly changes 0 0 + 1 + 22 + 30 + 101 + 153

Federal agency debt securities2

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

Weekly changes 0 0 0 0 0 0 0

Mortgage-backed securities3

Holdings 0 0 0 24 9,514 1,712,896 1,722,434

Weekly changes 0 0 0 - 1 - 196 - 14,832 - 15,029

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

Central bank liquidity swaps5 2 0 0 0 0 0 2

Reverse repurchase agreements4 278,637 0 ... ... ... ... 278,637

Term deposits 79,919 0 0 ... ... ... 79,919

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 27, 2015

Mortgage-backed securities held outright1 1,722,434

Commitments to buy mortgage-backed securities2 39,099

Commitments to sell mortgage-backed securities2 0

Cash and cash equivalents3 22

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 27, 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 27, 2015 May 20, 2015 May 28, 2014

Assets

Gold certificate account 11,037 0 0

Special drawing rights certificate account 5,200 0 0

Coin 1,790 - 26 - 74

Securities, unamortized premiums and discounts,

repurchase agreements, and loans 4,401,029 - 16,275 + 146,649

Securities held outright1 4,218,968 - 14,876 + 156,180

U.S. Treasury securities 2,460,639 + 153 + 89,915

Bills2 0 0 0

Notes and bonds, nominal2 2,346,643 0 + 87,197

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

Inflation compensation3 15,462 + 153 + 252

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

Mortgage-backed securities4 1,722,434 - 15,029 + 74,452

Unamortized premiums on securities held outright5 199,646 - 818 - 9,766

Unamortized discounts on securities held outright5 -17,681 + 38 + 277

Repurchase agreements6 0 - 620 0

Loans 96 + 1 - 41

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) 93 + 12 - 36

Bank premises 2,241 0 - 30

Central bank liquidity swaps10 2 + 2 - 172

Foreign currency denominated assets11 19,434 - 362 - 4,520

Other assets12 21,459 + 246 - 354

Total assets (0) 4,463,981 - 16,403 + 141,327

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 27, 2015 May 20, 2015 May 28, 2014

Liabilities

Federal Reserve notes, net of F.R. Bank holdings 1,324,879 + 3,443 + 86,901

Reverse repurchase agreements13 278,637 - 29,623 + 432

Deposits (0) 2,794,524 + 9,417 + 52,506

Term deposits held by depository institutions 79,919 + 79,919 + 52,344

Other deposits held by depository institutions 2,536,920 - 51,226 - 140,378

U.S. Treasury, General Account 163,581 - 10,168 + 140,631

Foreign official 5,232 + 1 - 2,556

Other14 (0) 8,872 - 9,110 + 2,466

Deferred availability cash items (0) 846 + 349 - 105

Other liabilities and accrued dividends15 6,859 - 126 - 303

Total liabilities (0) 4,405,746 - 16,538 + 139,433

Capital accounts

Capital paid in 29,118 + 68 + 947

Surplus 29,118 + 68 + 947

Other capital accounts 0 0 0

Total capital 58,236 + 135 + 1,894

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 27, 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 1,790 32 63 126 118 291 184 266 22 44 145 186 311

Securities, unamortized premiums and

discounts, repurchase agreements,

and loans 4,401,029 111,566 2,641,933 109,458 105,809 239,030 247,841 163,528 45,899 26,808 57,179 141,772 510,205

Securities held outright1 4,218,968 106,949 2,532,697 104,933 101,434 229,147 237,579 156,753 43,997 25,658 54,807 135,907 489,107

U.S. Treasury securities 2,460,639 62,376 1,477,151 61,200 59,160 133,646 138,564 91,424 25,661 14,965 31,965 79,265 285,263

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

Notes and bonds3 2,460,639 62,376 1,477,151 61,200 59,160 133,646 138,564 91,424 25,661 14,965 31,965 79,265 285,263

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 1,722,434 43,663 1,033,998 42,840 41,411 93,552 96,994 63,996 17,962 10,475 22,375 55,485 199,683

Unamortized premiums on securities 

held outright5 199,646 5,061 119,850 4,966 4,800 10,843 11,242 7,418 2,082 1,214 2,594 6,431 23,145

Unamortized discounts on securities 

held outright5 -17,681 -448 -10,614 -440 -425 -960 -996 -657 -184 -108 -230 -570 -2,050

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

Loans 96 4 0 0 0 0 16 14 4 44 8 4 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 93 0 0 0 0 0 93 0 0 0 0 0 0

Bank premises 2,241 124 433 74 109 216 209 202 120 94 240 221 198

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

Foreign currency denominated

assets11 19,434 881 6,265 1,086 1,515 4,459 1,106 522 181 82 204 280 2,853

Other assets12 21,459 575 12,292 539 521 1,318 1,216 809 434 158 309 810 2,478

Interdistrict settlement account 0 + 19,753 - 96,867 + 5,582 + 20,220 + 11,424 - 10,466 + 11,079 + 3,509 + 4,829 + 3,462 + 9,549 + 17,926

Total assets 4,463,981 133,475 2,571,344 117,415 129,034 257,934 242,437 177,564 50,613 32,277 61,980 153,991 535,916

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 27, 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 1,502,469 50,135 484,031 50,716 78,017 104,076 208,492 105,989 44,794 26,611 41,746 119,887 187,975

Less: Notes held by F.R. Banks 177,589 5,183 62,233 5,072 9,250 11,845 22,889 10,959 4,714 2,801 4,473 13,616 24,554

Federal Reserve notes, net 1,324,879 44,953 421,798 45,644 68,767 92,231 185,603 95,030 40,080 23,810 37,274 106,270 163,421

Reverse repurchase agreements13 278,637 7,063 167,269 6,930 6,699 15,134 15,691 10,353 2,906 1,695 3,620 8,976 32,303

Deposits 2,794,524 78,653 1,959,677 61,313 48,831 136,813 36,950 70,278 6,921 5,999 20,340 37,644 331,105

Term deposits held by depository

institutions 79,919 50 40,076 14,300 9,000 38 185 5,145 30 0 2,025 500 8,570

Other deposits held by depository

institutions 2,536,920 78,598 1,742,129 46,974 39,827 136,634 36,756 65,130 6,890 5,999 18,313 37,140 322,527

U.S. Treasury, General Account 163,581 0 163,581 0 0 0 0 0 0 0 0 0 0

Foreign official 5,232 2 5,204 2 3 9 2 1 0 0 0 1 6

Other14 8,872 3 8,686 36 0 132 7 2 0 0 1 3 2

Deferred availability cash items 846 0 0 0 0 0 475 0 0 371 0 0 0

Interest on Federal Reserve notes due

to U.S. Treasury15 1,371 29 981 -39 17 -19 83 57 14 11 19 56 162

Other liabilities and accrued

dividends 5,488 177 2,600 218 235 634 352 270 129 136 123 187 427

Total liabilities 4,405,746 130,874 2,552,326 114,066 124,548 244,793 239,155 175,986 50,050 32,022 61,375 153,133 527,418

Capital

Capital paid in 29,118 1,300 9,509 1,675 2,243 6,571 1,641 789 282 128 303 429 4,249

Surplus 29,118 1,300 9,509 1,675 2,243 6,571 1,641 789 282 128 303 429 4,249

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

Total liabilities and capital 4,463,981 133,475 2,571,344 117,415 129,034 257,934 242,437 177,564 50,613 32,277 61,980 153,991 535,916

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 27, 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 27, 2015

Federal Reserve notes outstanding 1,502,469

Less: Notes held by F.R. Banks not subject to collateralization 177,589

Federal Reserve notes to be collateralized 1,324,879

Collateral held against Federal Reserve notes 1,324,879

Gold certificate account 11,037

Special drawing rights certificate account 5,200

U.S. Treasury, agency debt, and mortgage-backed securities pledged1,2 1,308,643

Other assets pledged 0

Memo:

Total U.S. Treasury, agency debt, and mortgage-backed securities1,2 4,218,968

Less: Face value of securities under reverse repurchase agreements 256,067

U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 3,962,901

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.