FEDERAL RESERVE statistical release

H.4.1

Factors Affecting Reserve Balances of Depository Institutions and

Condition Statement of Federal Reserve Banks January 15, 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 14, 2015 Jan 7, 2015 Jan 15, 2014

Wednesday

Jan 14, 2015

Reserve Bank credit 4,462,272 + 3,150 + 454,889 4,476,465

Securities held outright1 4,238,779 + 1,986 + 459,872 4,251,495

U.S. Treasury securities 2,461,136 - 142 + 244,257 2,461,084

Bills2 0 0 0 0

Notes and bonds, nominal2 2,346,712 0 + 235,011 2,346,712

Notes and bonds, inflation-indexed2 98,469 0 + 6,737 98,469

Inflation compensation3 15,955 - 143 + 2,509 15,904

Federal agency debt securities2 38,677 0 - 16,873 38,677

Mortgage-backed securities4 1,738,967 + 2,129 + 232,489 1,751,734

Unamortized premiums on securities held outright5 206,349 - 260 - 2,321 206,747

Unamortized discounts on securities held outright5 -18,344 + 31 - 5,510 -18,332

Repurchase agreements6 0 0 0 0

Loans 31 - 28 - 86 31

Primary credit 22 - 19 + 19 22

Secondary credit 0 0 0 0

Seasonal credit 9 - 8 - 7 9

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

Other credit extensions 0 0 0 0

Net portfolio holdings of Maiden Lane LLC8 1,678 0 + 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 -433 + 142 + 121 -435

Central bank liquidity swaps11 0 - 1,528 - 259 0

Other Federal Reserve assets12 34,212 + 2,807 + 3,128 35,279

Foreign currency denominated assets13 20,774 - 98 - 3,001 20,871

Gold stock 11,041 0 0 11,041

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

Treasury currency outstanding14 46,383 + 14 + 831 46,383

Total factors supplying reserve funds 4,545,670 + 3,066 + 452,718 4,559,960

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 14, 2015 Jan 7, 2015 Jan 15, 2014

Wednesday

Jan 14, 2015

Currency in circulation14 1,332,824 - 8,334 + 103,639 1,330,856

Reverse repurchase agreements15 217,437 - 126,716 + 56,491 203,719

Foreign official and international accounts 104,049 - 3,271 - 5,286 108,319

Others 113,388 - 123,445 + 61,777 95,400

Treasury cash holdings 204 + 2 - 37 203

Deposits with F.R. Banks, other than reserve balances 177,350 - 16,500 + 67,362 199,335

Term deposits held by depository institutions 0 0 0 0

U.S. Treasury, General Account 158,268 - 18,549 + 78,246 159,730

Foreign official 5,215 - 1 - 2,832 5,234

Other16 13,866 + 2,049 - 8,053 34,371

Other liabilities and capital17 63,952 + 1,308 - 757 65,462

Total factors, other than reserve balances,

absorbing reserve funds 1,791,767 - 150,239 + 226,698 1,799,576

Reserve balances with Federal Reserve Banks 2,753,903 + 153,305 + 226,020 2,760,384

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 14, 2015 Jan 7, 2015 Jan 15, 2014

Wednesday

Jan 14, 2015

Securities held in custody for foreign official and international

accounts 3,300,113 - 710 - 48,641 3,296,009

Marketable U.S. Treasury securities1 2,967,310 - 869 - 28,517 2,962,248

Federal agency debt and mortgage-backed securities2 291,347 + 441 - 18,096 292,246

Other securities3 41,455 - 283 - 2,029 41,516

Securities lent to dealers 10,229 - 490 - 2,725 10,287

Overnight facility4 10,229 - 490 - 2,725 10,287

U.S. Treasury securities 9,696 - 403 - 2,163 9,771

Federal agency debt securities 533 - 86 - 563 516

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 14, 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 22 9 0 0 0 ... 31

U.S. Treasury securities1

Holdings 0 5 3,516 1,113,962 685,517 658,084 2,461,084

Weekly changes 0 0 0 + 1,054 - 1,092 - 103 - 140

Federal agency debt securities2

Holdings 1,089 711 3,933 30,597 0 2,347 38,677

Weekly changes 0 0 0 0 0 0 0

Mortgage-backed securities3

Holdings 0 0 0 14 6,531 1,745,188 1,751,734

Weekly changes 0 0 0 0 0 + 14,894 + 14,895

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

Central bank liquidity swaps5 0 0 0 0 0 0 0

Reverse repurchase agreements4 203,719 0 ... ... ... ... 203,719

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 14, 2015

Mortgage-backed securities held outright1 1,751,734

Commitments to buy mortgage-backed securities2 24,013

Commitments to sell mortgage-backed securities2 231

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 14, 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 14, 2015 Jan 7, 2015 Jan 15, 2014

Assets

Gold certificate account 11,037 0 0

Special drawing rights certificate account 5,200 0 0

Coin 1,908 + 32 - 79

Securities, unamortized premiums and discounts,

repurchase agreements, and loans 4,439,940 + 15,075 + 442,748

Securities held outright1 4,251,495 + 14,755 + 450,427

U.S. Treasury securities 2,461,084 - 140 + 240,131

Bills2 0 0 0

Notes and bonds, nominal2 2,346,712 0 + 231,818

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

Inflation compensation3 15,904 - 139 + 2,460

Federal agency debt securities2 38,677 0 - 16,234

Mortgage-backed securities4 1,751,734 + 14,895 + 226,530

Unamortized premiums on securities held outright5 206,747 + 282 - 2,321

Unamortized discounts on securities held outright5 -18,332 + 31 - 5,273

Repurchase agreements6 0 0 0

Loans 31 + 8 - 84

Net portfolio holdings of Maiden Lane LLC7 1,680 + 2 + 137

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 - 107

Items in process of collection (0) 161 - 6 + 56

Bank premises 2,260 0 - 26

Central bank liquidity swaps10 0 - 1,528 - 259

Foreign currency denominated assets11 20,871 + 169 - 2,829

Other assets12 33,020 + 2,809 + 4,993

Total assets (0) 4,516,077 + 16,553 + 444,549

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 14, 2015 Jan 7, 2015 Jan 15, 2014

Liabilities

Federal Reserve notes, net of F.R. Bank holdings 1,286,580 - 7,121 + 103,041

Reverse repurchase agreements13 203,719 - 37,718 + 47,453

Deposits (0) 2,959,720 + 58,707 + 291,143

Term deposits held by depository institutions 0 0 0

Other deposits held by depository institutions 2,760,384 + 50,111 + 200,306

U.S. Treasury, General Account 159,730 - 16,633 + 71,804

Foreign official 5,234 + 23 - 2,813

Other14 (0) 34,371 + 25,205 + 21,846

Deferred availability cash items (0) 596 - 202 - 63

Other liabilities and accrued dividends15 8,314 + 2,888 + 856

Total liabilities (0) 4,458,929 + 16,553 + 442,431

Capital accounts

Capital paid in 28,574 0 + 1,059

Surplus 28,574 0 + 1,059

Other capital accounts 0 0 0

Total capital 57,148 0 + 2,118

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 14, 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 1,908 35 81 126 120 312 208 282 24 46 155 191 330

Securities, unamortized premiums and

discounts, repurchase agreements,

and loans 4,439,940 89,812 2,725,055 106,367 96,941 248,151 245,436 181,479 54,763 27,212 58,491 135,289 470,946

Securities held outright1 4,251,495 86,000 2,609,413 101,853 92,825 237,619 235,020 173,765 52,439 26,055 56,002 129,544 450,960

U.S. Treasury securities 2,461,084 49,783 1,510,524 58,960 53,734 137,552 136,047 100,588 30,356 15,082 32,418 74,990 261,050

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

Notes and bonds3 2,461,084 49,783 1,510,524 58,960 53,734 137,552 136,047 100,588 30,356 15,082 32,418 74,990 261,050

Federal agency debt securities2 38,677 782 23,739 927 844 2,162 2,138 1,581 477 237 509 1,178 4,103

Mortgage-backed securities4 1,751,734 35,434 1,075,150 41,966 38,246 97,906 96,835 71,596 21,606 10,735 23,074 53,376 185,808

Unamortized premiums on securities 

held outright5 206,747 4,182 126,894 4,953 4,514 11,555 11,429 8,450 2,550 1,267 2,723 6,300 21,930

Unamortized discounts on securities 

held outright5 -18,332 -371 -11,252 -439 -400 -1,025 -1,013 -749 -226 -112 -241 -559 -1,944

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

Loans 31 0 0 0 3 1 0 14 0 2 7 4 0

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 161 0 0 0 0 0 160 0 0 0 0 0 0

Bank premises 2,260 125 436 75 110 220 212 200 122 96 241 223 201

Central bank liquidity swaps10 0 0 0 0 0 0 0 0 0 0 0 0 0

Foreign currency denominated

assets11 20,871 949 6,713 1,569 1,660 4,352 1,200 576 175 88 220 349 3,020

Other assets12 33,020 700 19,988 789 723 2,018 1,826 1,337 463 227 467 1,047 3,436

Interdistrict settlement account 0 + 19,828 - 68,756 - 8,087 + 21,683 - 8,635 - 8,252 - 15,974 - 6,167 + 3,304 + 1,936 + 12,038 + 57,079

Total assets 4,516,077 111,996 2,691,141 101,387 121,939 247,653 242,792 169,030 49,809 31,236 61,954 150,298 536,843

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 14, 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 1,473,887 46,880 473,984 47,430 69,769 103,938 213,097 101,692 42,134 24,523 39,341 120,941 190,158

Less: Notes held by F.R. Banks 187,307 5,278 60,830 5,762 9,420 12,382 24,895 11,450 5,236 3,212 4,947 16,065 27,830

Federal Reserve notes, net 1,286,580 41,602 413,154 41,668 60,349 91,557 188,202 90,241 36,899 21,311 34,394 104,876 162,328

Reverse repurchase agreements13 203,719 4,121 125,035 4,880 4,448 11,386 11,261 8,326 2,513 1,248 2,683 6,207 21,609

Deposits 2,959,720 63,456 2,130,124 51,374 52,417 130,926 39,085 68,513 9,688 8,170 24,113 38,096 343,759

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 2,760,384 63,452 1,930,929 51,347 52,414 130,859 39,076 68,500 9,688 8,170 24,111 38,090 343,749

U.S. Treasury, General Account 159,730 0 159,730 0 0 0 0 0 0 0 0 0 0

Foreign official 5,234 2 5,207 3 3 8 2 1 0 0 0 1 6

Other14 34,371 2 34,258 24 0 59 6 12 0 0 1 5 4

Deferred availability cash items 596 0 0 0 0 0 459 0 0 137 0 0 0

Interest on Federal Reserve notes due

to U.S. Treasury15 2,229 49 1,331 60 56 142 126 95 26 12 31 62 241

Other liabilities and accrued

dividends16 6,084 177 3,082 210 209 528 407 320 151 118 133 235 515

Total liabilities 4,458,929 109,405 2,672,725 98,193 117,478 234,538 239,541 167,495 49,277 30,996 61,354 149,475 528,451

Capital

Capital paid in 28,574 1,296 9,208 1,597 2,230 6,557 1,626 768 266 120 300 412 4,196

Surplus 28,574 1,296 9,208 1,597 2,230 6,557 1,626 768 266 120 300 412 4,196

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

Total liabilities and capital 4,516,077 111,996 2,691,141 101,387 121,939 247,653 242,792 169,030 49,809 31,236 61,954 150,298 536,843

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 14, 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 14, 2015

Federal Reserve notes outstanding 1,473,887

Less: Notes held by F.R. Banks not subject to collateralization 187,307

Federal Reserve notes to be collateralized 1,286,580

Collateral held against Federal Reserve notes 1,286,580

Gold certificate account 11,037

Special drawing rights certificate account 5,200

U.S. Treasury, agency debt, and mortgage-backed securities pledged1,2 1,270,343

Other assets pledged 0

Memo:

Total U.S. Treasury, agency debt, and mortgage-backed securities1,2 4,251,495

Less: Face value of securities under reverse repurchase agreements 181,792

U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 4,069,703

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.