FEDERAL RESERVE statistical release

H.4.1

Factors Affecting Reserve Balances of Depository Institutions and

Condition Statement of Federal Reserve Banks August 20, 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

Aug 19, 2015 Aug 12, 2015 Aug 20, 2014

Wednesday

Aug 19, 2015

Reserve Bank credit 4,460,579 + 10,445 + 87,106 4,449,179

Securities held outright1 4,246,889 + 15,264 + 91,419 4,244,953

U.S. Treasury securities 2,461,752 + 91 + 31,656 2,461,785

Bills2 0 0 0 0

Notes and bonds, nominal2 2,346,641 0 + 30,752 2,346,641

Notes and bonds, inflation-indexed2 98,534 0 + 779 98,534

Inflation compensation3 16,577 + 91 + 125 16,610

Federal agency debt securities2 35,093 0 - 6,469 35,093

Mortgage-backed securities4 1,750,045 + 15,174 + 66,233 1,748,075

Unamortized premiums on securities held outright5 196,247 + 136 - 13,294 196,046

Unamortized discounts on securities held outright5 -17,317 + 22 + 1,357 -17,305

Repurchase agreements6 0 0 0 0

Loans 258 + 46 - 20 322

Primary credit 35 + 27 + 25 88

Secondary credit 0 0 0 0

Seasonal credit 224 + 20 - 10 234

Term Asset-Backed Securities Loan Facility7 0 0 - 34 0

Other credit extensions 0 0 0 0

Net portfolio holdings of Maiden Lane LLC8 1,702 0 + 33 1,701

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 - 44 0

Float 47 + 93 + 624 29

Central bank liquidity swaps11 132 - 97 + 57 132

Other Federal Reserve assets12 32,620 - 5,022 + 7,058 23,300

Foreign currency denominated assets13 19,631 + 103 - 4,016 19,608

Gold stock 11,041 0 0 11,041

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

Treasury currency outstanding14 47,037 + 14 + 960 47,037

Total factors supplying reserve funds 4,543,489 + 10,562 + 84,052 4,532,066

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

Aug 19, 2015 Aug 12, 2015 Aug 20, 2014

Wednesday

Aug 19, 2015

Currency in circulation14 1,375,651 + 621 + 88,370 1,376,384

Reverse repurchase agreements15 237,207 - 6,980 - 10,379 247,894

Foreign official and international accounts 164,382 + 2,062 + 45,616 163,534

Others 72,825 - 9,043 - 55,995 84,360

Treasury cash holdings 151 + 10 - 4 160

Deposits with F.R. Banks, other than reserve balances 334,559 + 46,239 + 264,688 289,069

Term deposits held by depository institutions 123,262 + 57,196 + 123,262 123,262

U.S. Treasury, General Account 177,883 - 18,440 + 135,080 142,076

Foreign official 5,247 + 3 - 1,344 5,245

Other16 28,167 + 7,480 + 7,690 18,486

Other liabilities and capital17 67,353 + 1,061 + 2,984 64,971

Total factors, other than reserve balances,

absorbing reserve funds 2,014,921 + 40,952 + 345,658 1,978,479

Reserve balances with Federal Reserve Banks 2,528,568 - 30,389 - 261,606 2,553,587

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

Aug 19, 2015 Aug 12, 2015 Aug 20, 2014

Wednesday

Aug 19, 2015

Securities held in custody for foreign official and international

accounts 3,356,865 - 4,744 + 34,740 3,352,077

Marketable U.S. Treasury securities1 3,016,781 - 4,684 + 26,179 3,012,657

Federal agency debt and mortgage-backed securities2 295,734 + 100 + 7,860 295,280

Other securities3 44,350 - 160 + 701 44,141

Securities lent to dealers 11,921 - 613 + 2,538 10,997

Overnight facility4 11,921 - 613 + 2,538 10,997

U.S. Treasury securities 11,861 - 614 + 3,298 10,939

Federal agency debt securities 60 + 1 - 760 58

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, August 19, 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 306 16 0 0 0 ... 322

U.S. Treasury securities1

Holdings 0 327 159,980 1,137,997 525,548 637,933 2,461,785

Weekly changes - 1,287 + 325 + 6,028 + 39,705 - 37,779 - 6,902 + 91

Federal agency debt securities2

Holdings 0 2,149 10,452 20,145 0 2,347 35,093

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

Mortgage-backed securities3

Holdings 0 0 0 103 9,098 1,738,874 1,748,075

Weekly changes 0 0 0 - 1 - 361 + 13,553 + 13,191

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

Central bank liquidity swaps5 132 0 0 0 0 0 132

Reverse repurchase agreements4 247,894 0 ... ... ... ... 247,894

Term deposits 123,262 0 0 ... ... ... 123,262

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 Aug 19, 2015

Mortgage-backed securities held outright1 1,748,075

Commitments to buy mortgage-backed securities2 28,032

Commitments to sell mortgage-backed securities2 0

Cash and cash equivalents3 20

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 Aug 19, 2015

Net portfolio holdings of Maiden Lane LLC1 1,701

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 June 30, 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

Aug 19, 2015 Aug 12, 2015 Aug 20, 2014

Assets

Gold certificate account 11,037 0 0

Special drawing rights certificate account 5,200 0 0

Coin 1,899 + 10 - 37

Securities, unamortized premiums and discounts,

repurchase agreements, and loans 4,424,016 + 13,447 + 78,037

Securities held outright1 4,244,953 + 13,282 + 90,095

U.S. Treasury securities 2,461,785 + 91 + 30,390

Bills2 0 0 0

Notes and bonds, nominal2 2,346,641 0 + 29,471

Notes and bonds, inflation-indexed2 98,534 0 + 779

Inflation compensation3 16,610 + 91 + 140

Federal agency debt securities2 35,093 0 - 6,469

Mortgage-backed securities4 1,748,075 + 13,191 + 66,174

Unamortized premiums on securities held outright5 196,046 + 58 - 13,456

Unamortized discounts on securities held outright5 -17,305 + 23 + 1,368

Repurchase agreements6 0 0 0

Loans 322 + 84 + 30

Net portfolio holdings of Maiden Lane LLC7 1,701 - 1 + 33

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 - 44

Items in process of collection (0) 314 + 109 + 241

Bank premises 2,236 + 1 - 28

Central bank liquidity swaps10 132 - 97 + 57

Foreign currency denominated assets11 19,608 - 164 - 3,885

Other assets12 21,065 - 15,347 - 5

Total assets (0) 4,487,208 - 2,042 + 74,284

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

Aug 19, 2015 Aug 12, 2015 Aug 20, 2014

Liabilities

Federal Reserve notes, net of F.R. Bank holdings 1,331,402 - 384 + 87,653

Reverse repurchase agreements13 247,894 + 19,698 - 20,697

Deposits (0) 2,842,656 - 20,162 + 5,649

Term deposits held by depository institutions 123,262 + 57,196 + 123,262

Other deposits held by depository institutions 2,553,587 - 2,203 - 216,256

U.S. Treasury, General Account 142,076 - 65,913 + 109,851

Foreign official 5,245 + 1 - 1,321

Other14 (0) 18,486 - 9,244 - 9,887

Deferred availability cash items (0) 284 - 174 - 332

Other liabilities and accrued dividends15 6,761 - 1,045 + 157

Total liabilities (0) 4,428,998 - 2,066 + 72,431

Capital accounts

Capital paid in 29,105 + 12 + 927

Surplus 29,105 + 12 + 927

Other capital accounts 0 0 0

Total capital 58,210 + 24 + 1,853

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, August 19, 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 1,899 44 62 132 133 302 195 276 33 45 151 197 329

Securities, unamortized premiums and

discounts, repurchase agreements,

and loans 4,424,016 112,146 2,655,662 110,025 106,356 240,267 249,131 164,372 46,184 27,034 57,482 142,509 512,847

Securities held outright1 4,244,953 107,607 2,548,296 105,579 102,059 230,559 239,042 157,719 44,268 25,816 55,144 136,744 492,119

U.S. Treasury securities 2,461,785 62,405 1,477,839 61,229 59,187 133,708 138,628 91,466 25,673 14,972 31,980 79,302 285,396

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

Notes and bonds3 2,461,785 62,405 1,477,839 61,229 59,187 133,708 138,628 91,466 25,673 14,972 31,980 79,302 285,396

Federal agency debt securities2 35,093 890 21,067 873 844 1,906 1,976 1,304 366 213 456 1,130 4,068

Mortgage-backed securities4 1,748,075 44,313 1,049,390 43,478 42,028 94,944 98,438 64,949 18,230 10,631 22,708 56,311 202,655

Unamortized premiums on securities 

held outright5 196,046 4,970 117,689 4,876 4,713 10,648 11,040 7,284 2,044 1,192 2,547 6,315 22,728

Unamortized discounts on securities 

held outright5 -17,305 -439 -10,388 -430 -416 -940 -974 -643 -180 -105 -225 -557 -2,006

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

Loans 322 8 66 0 0 0 24 12 51 131 16 8 6

Net portfolio holdings of Maiden

Lane LLC7 1,701 0 1,701 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 314 0 0 0 0 0 313 0 0 0 0 0 0

Bank premises 2,236 126 435 73 108 216 208 204 118 93 238 220 197

Central bank liquidity swaps10 132 6 43 7 10 30 8 4 1 1 1 2 19

Foreign currency denominated

assets11 19,608 889 6,322 1,095 1,528 4,499 1,116 527 183 82 206 282 2,879

Other assets12 21,065 578 12,137 538 521 1,307 1,194 794 309 161 317 763 2,446

Interdistrict settlement account 0 + 8,642 - 112,859 + 13,604 + 21,485 + 44,724 - 12,365 + 8,072 + 8,522 + 4,078 + 2,263 + 5,909 + 7,926

Total assets 4,487,208 122,975 2,569,030 126,024 130,883 292,539 242,054 175,406 55,798 31,756 61,100 151,056 528,588

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, August 19, 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 1,511,705 49,006 492,971 50,192 81,746 104,440 208,093 105,720 51,021 26,748 41,522 117,611 182,635

Less: Notes held by F.R. Banks 180,303 6,361 58,286 6,340 9,565 12,481 22,537 11,344 5,238 3,022 4,775 15,023 25,331

Federal Reserve notes, net 1,331,402 42,645 434,686 43,852 72,182 91,959 185,556 94,376 45,783 23,726 36,746 102,587 157,303

Reverse repurchase agreements13 247,894 6,284 148,814 6,166 5,960 13,464 13,959 9,210 2,585 1,508 3,220 7,985 28,739

Deposits 2,842,656 71,244 1,962,921 72,554 48,018 173,402 38,646 69,920 6,717 6,015 20,379 39,366 333,475

Term deposits held by depository

institutions 123,262 220 66,624 15,420 12,500 26 15 4,343 0 15 2,850 2,000 19,250

Other deposits held by depository

institutions 2,553,587 71,020 1,736,794 57,132 35,515 173,183 38,622 59,533 6,681 6,000 17,527 37,363 314,217

U.S. Treasury, General Account 142,076 0 142,076 0 0 0 0 0 0 0 0 0 0

Foreign official 5,245 2 5,217 2 3 9 2 1 0 0 0 1 6

Other14 18,486 2 12,209 0 0 185 7 6,043 36 0 1 2 2

Deferred availability cash items 284 0 0 0 0 0 177 0 0 107 0 0 0

Interest on Federal Reserve notes due

to U.S. Treasury15 1,832 41 1,151 38 35 63 108 74 20 12 19 64 208

Other liabilities and accrued

dividends 4,929 157 2,355 194 204 507 327 253 123 133 121 184 371

Total liabilities 4,428,998 120,371 2,549,926 122,803 126,398 279,395 238,774 173,834 55,228 31,502 60,485 150,186 520,096

Capital

Capital paid in 29,105 1,302 9,552 1,610 2,242 6,572 1,640 786 285 127 307 435 4,246

Surplus 29,105 1,302 9,552 1,610 2,242 6,572 1,640 786 285 127 307 435 4,246

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

Total liabilities and capital 4,487,208 122,975 2,569,030 126,024 130,883 292,539 242,054 175,406 55,798 31,756 61,100 151,056 528,588

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, August 19, 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 Aug 19, 2015

Federal Reserve notes outstanding 1,511,705

Less: Notes held by F.R. Banks not subject to collateralization 180,303

Federal Reserve notes to be collateralized 1,331,402

Collateral held against Federal Reserve notes 1,331,402

Gold certificate account 11,037

Special drawing rights certificate account 5,200

U.S. Treasury, agency debt, and mortgage-backed securities pledged1,2 1,315,165

Other assets pledged 0

Memo:

Total U.S. Treasury, agency debt, and mortgage-backed securities1,2 4,244,953

Less: Face value of securities under reverse repurchase agreements 231,365

U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 4,013,588

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.