FEDERAL RESERVE statistical release

H.4.1

Factors Affecting Reserve Balances of Depository Institutions and

Condition Statement of Federal Reserve Banks March 26, 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 25, 2015 Mar 18, 2015 Mar 26, 2014

Wednesday

Mar 25, 2015

Reserve Bank credit 4,453,211 - 7,917 + 266,384 4,441,970

Securities held outright1 4,237,838 - 7,898 + 274,188 4,228,452

U.S. Treasury securities 2,459,710 - 121 + 150,732 2,459,666

Bills2 0 0 0 0

Notes and bonds, nominal2 2,346,710 - 1 + 146,159 2,346,710

Notes and bonds, inflation-indexed2 98,469 0 + 3,904 98,469

Inflation compensation3 14,531 - 121 + 669 14,487

Federal agency debt securities2 36,877 0 - 10,466 36,877

Mortgage-backed securities4 1,741,251 - 7,776 + 133,922 1,731,909

Unamortized premiums on securities held outright5 203,333 - 658 - 6,690 202,935

Unamortized discounts on securities held outright5 -18,001 + 37 - 1,391 -17,984

Repurchase agreements6 0 0 0 0

Loans 16 + 1 - 90 15

Primary credit 6 - 1 - 6 2

Secondary credit 0 0 0 0

Seasonal credit 10 + 2 0 13

Term Asset-Backed Securities Loan Facility7 0 0 - 84 0

Other credit extensions 0 0 0 0

Net portfolio holdings of Maiden Lane LLC8 1,692 0 + 107 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 -411 - 16 + 130 -564

Central bank liquidity swaps11 3 + 1 - 456 3

Other Federal Reserve assets12 28,741 + 616 + 776 27,421

Foreign currency denominated assets13 19,595 + 352 - 4,497 19,812

Gold stock 11,041 0 0 11,041

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

Treasury currency outstanding14 46,469 + 14 + 736 46,469

Total factors supplying reserve funds 4,535,516 - 7,551 + 262,622 4,524,492

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 25, 2015 Mar 18, 2015 Mar 26, 2014

Wednesday

Mar 25, 2015

Currency in circulation14 1,355,867 + 363 + 88,608 1,357,352

Reverse repurchase agreements15 299,116 + 47,198 + 111,081 278,847

Foreign official and international accounts 141,001 + 2,885 + 45,410 138,458

Others 158,115 + 44,313 + 65,671 140,389

Treasury cash holdings 197 - 11 - 78 196

Deposits with F.R. Banks, other than reserve balances 108,332 + 21,182 - 33,752 86,034

Term deposits held by depository institutions 0 0 - 15,413 0

U.S. Treasury, General Account 85,907 + 25,221 - 16,133 71,325

Foreign official 5,239 + 2 - 1,747 5,225

Other16 17,186 - 4,042 - 459 9,484

Other liabilities and capital17 65,378 + 25 + 2,375 64,262

Total factors, other than reserve balances,

absorbing reserve funds 1,828,890 + 68,757 + 168,233 1,786,691

Reserve balances with Federal Reserve Banks 2,706,627 - 76,308 + 94,390 2,737,802

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 25, 2015 Mar 18, 2015 Mar 26, 2014

Wednesday

Mar 25, 2015

Securities held in custody for foreign official and international

accounts 3,233,869 + 10,416 - 22,352 3,227,782

Marketable U.S. Treasury securities1 2,907,735 + 11,620 - 4,952 2,899,767

Federal agency debt and mortgage-backed securities2 282,478 - 1,272 - 17,053 284,381

Other securities3 43,656 + 68 - 347 43,634

Securities lent to dealers 12,599 - 132 - 3,999 12,847

Overnight facility4 12,599 - 132 - 3,999 12,847

U.S. Treasury securities 12,170 - 93 - 3,126 12,422

Federal agency debt securities 429 - 39 - 873 425

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 25, 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 15 0 0 0 0 ... 15

U.S. Treasury securities1

Holdings 1 1,899 40,235 1,125,170 649,232 643,130 2,459,666

Weekly changes 0 0 0 - 17 - 23 - 79 - 121

Federal agency debt securities2

Holdings 0 982 6,638 26,910 0 2,347 36,877

Weekly changes 0 0 0 0 0 0 0

Mortgage-backed securities3

Holdings 0 0 0 15 8,361 1,723,532 1,731,909

Weekly changes 0 0 0 0 - 136 - 13,869 - 14,005

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

Central bank liquidity swaps5 3 0 0 0 0 0 3

Reverse repurchase agreements4 278,847 0 ... ... ... ... 278,847

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 Mar 25, 2015

Mortgage-backed securities held outright1 1,731,909

Commitments to buy mortgage-backed securities2 26,016

Commitments to sell mortgage-backed securities2 0

Cash and cash equivalents3 60

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 25, 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 25, 2015 Mar 18, 2015 Mar 26, 2014

Assets

Gold certificate account 11,037 0 0

Special drawing rights certificate account 5,200 0 0

Coin 1,839 - 9 - 99

Securities, unamortized premiums and discounts,

repurchase agreements, and loans 4,413,417 - 14,926 + 258,164

Securities held outright1 4,228,452 - 14,126 + 266,467

U.S. Treasury securities 2,459,666 - 121 + 148,127

Bills2 0 0 0

Notes and bonds, nominal2 2,346,710 0 + 143,632

Notes and bonds, inflation-indexed2 98,469 0 + 3,904

Inflation compensation3 14,487 - 121 + 591

Federal agency debt securities2 36,877 0 - 10,466

Mortgage-backed securities4 1,731,909 - 14,005 + 128,805

Unamortized premiums on securities held outright5 202,935 - 843 - 7,011

Unamortized discounts on securities held outright5 -17,984 + 39 - 1,201

Repurchase agreements6 0 0 0

Loans 15 + 5 - 90

Net portfolio holdings of Maiden Lane LLC7 1,692 0 + 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) 182 - 170 + 91

Bank premises 2,248 0 - 28

Central bank liquidity swaps10 3 + 1 - 456

Foreign currency denominated assets11 19,812 + 475 - 4,289

Other assets12 25,174 - 655 + 333

Total assets (0) 4,480,603 - 15,285 + 253,632

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 25, 2015 Mar 18, 2015 Mar 26, 2014

Liabilities

Federal Reserve notes, net of F.R. Bank holdings 1,312,914 + 1,069 + 88,118

Reverse repurchase agreements13 278,847 - 10,768 + 81,052

Deposits (0) 2,823,836 - 5,242 + 81,894

Term deposits held by depository institutions 0 0 - 15,413

Other deposits held by depository institutions 2,737,802 + 11,483 + 126,633

U.S. Treasury, General Account 71,325 - 16,235 - 17,742

Foreign official 5,225 + 3 - 1,803

Other14 (0) 9,484 - 494 - 9,781

Deferred availability cash items (0) 745 + 57 + 72

Other liabilities and accrued dividends15 6,648 - 428 + 983

Total liabilities (0) 4,422,989 - 15,314 + 252,119

Capital accounts

Capital paid in 28,807 + 15 + 757

Surplus 28,807 + 15 + 757

Other capital accounts 0 0 0

Total capital 57,614 + 29 + 1,513

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 25, 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 1,839 42 71 130 116 304 187 272 22 45 151 179 318

Securities, unamortized premiums and

discounts, repurchase agreements,

and loans 4,413,417 89,278 2,708,786 105,732 96,360 246,668 243,972 180,383 54,436 27,053 58,138 134,478 468,134

Securities held outright1 4,228,452 85,534 2,595,270 101,301 92,322 236,331 233,746 172,823 52,155 25,913 55,699 128,842 448,516

U.S. Treasury securities 2,459,666 49,755 1,509,653 58,926 53,703 137,472 135,969 100,530 30,338 15,074 32,400 74,947 260,899

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

Notes and bonds3 2,459,666 49,755 1,509,653 58,926 53,703 137,472 135,969 100,530 30,338 15,074 32,400 74,947 260,899

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 1,731,909 35,033 1,062,983 41,491 37,814 96,798 95,739 70,786 21,362 10,614 22,813 52,772 183,705

Unamortized premiums on securities 

held outright5 202,935 4,105 124,554 4,862 4,431 11,342 11,218 8,294 2,503 1,244 2,673 6,183 21,525

Unamortized discounts on securities 

held outright5 -17,984 -364 -11,038 -431 -393 -1,005 -994 -735 -222 -110 -237 -548 -1,908

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

Loans 15 2 0 0 0 0 2 1 0 6 3 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 182 0 0 0 0 0 181 0 0 1 0 0 0

Bank premises 2,248 122 432 75 110 219 210 202 121 95 240 222 200

Central bank liquidity swaps10 3 0 1 0 0 1 0 0 0 0 0 0 0

Foreign currency denominated

assets11 19,812 898 6,387 1,107 1,544 4,546 1,127 532 184 83 208 285 2,909

Other assets12 25,174 550 14,829 611 561 1,573 1,406 1,031 519 182 364 876 2,670

Interdistrict settlement account 0 + 26,256 - 182,717 + 15,289 + 26,779 + 2,203 + 5,137 - 8,451 - 575 + 7,011 + 8,459 + 24,667 + 75,940

Total assets 4,480,603 117,695 2,555,424 123,491 126,171 256,749 254,225 175,100 55,137 34,733 68,005 161,870 552,003

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 25, 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 1,496,880 50,597 474,612 49,731 72,904 104,875 210,836 106,438 44,851 26,799 42,224 121,704 191,310

Less: Notes held by F.R. Banks 183,966 5,133 63,870 5,716 9,792 12,382 22,956 11,913 4,957 3,368 5,190 13,975 24,713

Federal Reserve notes, net 1,312,914 45,464 410,742 44,015 63,111 92,493 187,879 94,525 39,894 23,431 37,034 107,729 166,597

Reverse repurchase agreements13 278,847 5,641 171,146 6,680 6,088 15,585 15,414 11,397 3,439 1,709 3,673 8,497 29,578

Deposits 2,823,836 63,820 1,951,409 69,332 52,239 134,862 46,765 67,325 11,116 8,956 26,562 44,589 346,860

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 2,737,802 63,815 1,865,537 69,304 52,236 134,770 46,754 67,316 11,116 8,955 26,561 44,587 346,850

U.S. Treasury, General Account 71,325 0 71,325 0 0 0 0 0 0 0 0 0 0

Foreign official 5,225 2 5,198 2 3 9 2 1 0 0 0 1 6

Other14 9,484 3 9,349 25 0 83 9 8 0 0 1 1 4

Deferred availability cash items 745 0 0 0 0 0 487 0 0 258 0 0 0

Interest on Federal Reserve notes due

to U.S. Treasury15 1,723 44 950 54 56 171 99 58 20 9 20 40 201

Other liabilities and accrued

dividends16 4,925 143 2,471 188 199 507 311 249 123 129 113 169 322

Total liabilities 4,422,989 115,112 2,536,717 120,270 121,694 243,619 250,957 173,554 54,593 34,492 67,402 161,023 543,558

Capital

Capital paid in 28,807 1,292 9,354 1,611 2,239 6,565 1,634 773 272 121 302 423 4,223

Surplus 28,807 1,292 9,354 1,611 2,239 6,565 1,634 773 272 121 302 423 4,223

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

Total liabilities and capital 4,480,603 117,695 2,555,424 123,491 126,171 256,749 254,225 175,100 55,137 34,733 68,005 161,870 552,003

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 25, 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 25, 2015

Federal Reserve notes outstanding 1,496,880

Less: Notes held by F.R. Banks not subject to collateralization 183,966

Federal Reserve notes to be collateralized 1,312,914

Collateral held against Federal Reserve notes 1,312,914

Gold certificate account 11,037

Special drawing rights certificate account 5,200

U.S. Treasury, agency debt, and mortgage-backed securities pledged1,2 1,296,677

Other assets pledged 0

Memo:

Total U.S. Treasury, agency debt, and mortgage-backed securities1,2 4,228,452

Less: Face value of securities under reverse repurchase agreements 261,812

U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 3,966,640

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.