FEDERAL RESERVE statistical release

H.4.1

Factors Affecting Reserve Balances of Depository Institutions and

Condition Statement of Federal Reserve Banks July 9, 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

Jul 8, 2015 Jul 1, 2015 Jul 9, 2014

Wednesday

Jul 8, 2015

Reserve Bank credit 4,442,118 + 1,242 + 105,476 4,442,968

Securities held outright1 4,229,014 + 198 + 115,871 4,229,062

U.S. Treasury securities 2,461,059 + 112 + 55,476 2,461,107

Bills2 0 0 0 0

Notes and bonds, nominal2 2,346,641 - 1 + 53,692 2,346,641

Notes and bonds, inflation-indexed2 98,534 0 + 1,763 98,534

Inflation compensation3 15,883 + 113 + 20 15,931

Federal agency debt securities2 35,895 0 - 7,764 35,895

Mortgage-backed securities4 1,732,060 + 86 + 68,159 1,732,060

Unamortized premiums on securities held outright5 197,882 - 363 - 11,223 197,786

Unamortized discounts on securities held outright5 -17,492 + 31 + 1,022 -17,482

Repurchase agreements6 0 0 0 0

Loans 183 + 11 - 15 172

Primary credit 13 + 4 + 12 3

Secondary credit 0 0 0 0

Seasonal credit 170 + 8 + 23 169

Term Asset-Backed Securities Loan Facility7 0 0 - 49 0

Other credit extensions 0 0 0 0

Net portfolio holdings of Maiden Lane LLC8 1,696 0 + 41 1,698

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 - 77 0

Float -264 + 197 + 474 -295

Central bank liquidity swaps11 155 - 480 + 31 155

Other Federal Reserve assets12 30,944 + 1,647 - 564 31,871

Foreign currency denominated assets13 19,722 - 47 - 4,243 19,840

Gold stock 11,041 0 0 11,041

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

Treasury currency outstanding14 46,867 + 14 + 887 46,867

Total factors supplying reserve funds 4,524,948 + 1,208 + 102,120 4,525,916

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

Jul 8, 2015 Jul 1, 2015 Jul 9, 2014

Wednesday

Jul 8, 2015

Currency in circulation14 1,370,957 + 4,491 + 82,233 1,371,703

Reverse repurchase agreements15 325,742 - 53,670 + 81,165 301,855

Foreign official and international accounts 157,282 + 100 + 51,060 156,385

Others 168,461 - 53,769 + 30,106 145,470

Treasury cash holdings 84 - 16 - 64 78

Deposits with F.R. Banks, other than reserve balances 207,182 - 47,335 + 4,626 201,410

Term deposits held by depository institutions 0 0 - 124,887 0

U.S. Treasury, General Account 182,596 - 44,861 + 118,770 173,642

Foreign official 5,262 + 18 - 606 5,244

Other16 19,324 - 2,493 + 11,349 22,524

Other liabilities and capital17 65,884 + 45 + 1,893 65,528

Total factors, other than reserve balances,

absorbing reserve funds 1,969,849 - 96,485 + 169,853 1,940,572

Reserve balances with Federal Reserve Banks 2,555,100 + 97,694 - 67,732 2,585,343

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

Jul 8, 2015 Jul 1, 2015 Jul 9, 2014

Wednesday

Jul 8, 2015

Securities held in custody for foreign official and international

accounts 3,367,400 - 11,462 + 58,306 3,353,741

Marketable U.S. Treasury securities1 3,023,539 - 11,499 + 48,397 3,009,890

Federal agency debt and mortgage-backed securities2 298,664 + 90 + 6,785 298,627

Other securities3 45,197 - 53 + 3,125 45,224

Securities lent to dealers 11,087 - 894 - 2,716 9,286

Overnight facility4 11,087 - 894 - 2,716 9,286

U.S. Treasury securities 10,959 - 869 - 1,714 9,162

Federal agency debt securities 128 - 25 - 1,002 124

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, July 8, 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 36 136 0 0 0 ... 172

U.S. Treasury securities1

Holdings 0 1,289 143,134 1,098,093 574,145 644,446 2,461,107

Weekly changes 0 + 1 0 + 19 + 25 + 87 + 132

Federal agency debt securities2

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

Weekly changes + 802 - 802 0 0 0 0 0

Mortgage-backed securities3

Holdings 0 0 0 79 9,679 1,722,302 1,732,060

Weekly changes 0 0 0 + 44 + 395 - 439 0

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

Central bank liquidity swaps5 155 0 0 0 0 0 155

Reverse repurchase agreements4 301,855 0 ... ... ... ... 301,855

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 Jul 8, 2015

Mortgage-backed securities held outright1 1,732,060

Commitments to buy mortgage-backed securities2 43,711

Commitments to sell mortgage-backed securities2 0

Cash and cash equivalents3 24

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 Jul 8, 2015

Net portfolio holdings of Maiden Lane LLC1 1,698

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

Jul 8, 2015 Jul 1, 2015 Jul 9, 2014

Assets

Gold certificate account 11,037 0 0

Special drawing rights certificate account 5,200 0 0

Coin 1,882 + 12 + 4

Securities, unamortized premiums and discounts,

repurchase agreements, and loans 4,409,539 - 161 + 102,652

Securities held outright1 4,229,062 + 131 + 112,996

U.S. Treasury securities 2,461,107 + 132 + 52,601

Bills2 0 0 0

Notes and bonds, nominal2 2,346,641 0 + 50,796

Notes and bonds, inflation-indexed2 98,534 0 + 1,763

Inflation compensation3 15,931 + 131 + 41

Federal agency debt securities2 35,895 0 - 7,764

Mortgage-backed securities4 1,732,060 0 + 68,159

Unamortized premiums on securities held outright5 197,786 - 325 - 11,372

Unamortized discounts on securities held outright5 -17,482 + 30 + 1,062

Repurchase agreements6 0 0 0

Loans 172 + 2 - 34

Net portfolio holdings of Maiden Lane LLC7 1,698 + 2 + 43

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 - 60

Items in process of collection (0) 68 - 23 - 30

Bank premises 2,240 + 4 - 21

Central bank liquidity swaps10 155 - 480 + 31

Foreign currency denominated assets11 19,840 + 65 - 4,169

Other assets12 29,631 + 2,742 - 477

Total assets (0) 4,481,289 + 2,159 + 97,888

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

Jul 8, 2015 Jul 1, 2015 Jul 9, 2014

Liabilities

Federal Reserve notes, net of F.R. Bank holdings 1,326,791 + 1,644 + 82,586

Reverse repurchase agreements13 301,855 - 48,002 + 53,603

Deposits (0) 2,786,753 + 47,526 - 40,435

Term deposits held by depository institutions 0 0 - 124,887

Other deposits held by depository institutions 2,585,343 + 80,811 - 47,710

U.S. Treasury, General Account 173,642 - 38,493 + 117,139

Foreign official 5,244 + 1 - 622

Other14 (0) 22,524 + 5,207 + 15,646

Deferred availability cash items (0) 363 - 79 - 386

Other liabilities and accrued dividends15 7,235 + 1,043 + 546

Total liabilities (0) 4,422,996 + 2,130 + 95,913

Capital accounts

Capital paid in 29,146 + 14 + 987

Surplus 29,146 + 14 + 987

Other capital accounts 0 0 0

Total capital 58,293 + 29 + 1,974

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, July 8, 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 1,882 37 63 128 129 301 206 274 32 46 149 195 321

Securities, unamortized premiums and

discounts, repurchase agreements,

and loans 4,409,539 111,775 2,646,996 109,668 106,012 239,488 248,326 163,845 46,013 26,900 57,289 142,045 511,182

Securities held outright1 4,229,062 107,205 2,538,757 105,184 101,677 229,696 238,147 157,129 44,103 25,719 54,938 136,232 490,277

U.S. Treasury securities 2,461,107 62,388 1,477,432 61,212 59,171 133,672 138,590 91,441 25,666 14,967 31,971 79,280 285,317

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

Notes and bonds3 2,461,107 62,388 1,477,432 61,212 59,171 133,672 138,590 91,441 25,666 14,967 31,971 79,280 285,317

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 1,732,060 43,907 1,039,777 43,079 41,643 94,074 97,536 64,354 18,063 10,534 22,500 55,795 200,799

Unamortized premiums on securities 

held outright5 197,786 5,014 118,733 4,919 4,755 10,742 11,138 7,349 2,063 1,203 2,569 6,371 22,929

Unamortized discounts on securities 

held outright5 -17,482 -443 -10,494 -435 -420 -949 -984 -650 -182 -106 -227 -563 -2,027

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

Loans 172 0 0 0 0 0 25 17 30 84 9 5 2

Net portfolio holdings of Maiden

Lane LLC7 1,698 0 1,698 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 68 0 0 0 0 0 67 0 0 0 0 0 0

Bank premises 2,240 125 436 73 108 216 209 204 119 94 239 220 197

Central bank liquidity swaps10 155 7 50 9 12 36 9 4 1 1 2 2 23

Foreign currency denominated

assets11 19,840 899 6,397 1,108 1,546 4,552 1,129 533 185 83 209 286 2,913

Other assets12 29,631 788 17,296 747 725 1,776 1,696 1,120 398 215 424 1,001 3,445

Interdistrict settlement account 0 + 14,075 - 106,737 + 14,341 + 34,978 + 25,298 - 6,507 + 4,292 + 8,066 + 4,453 + 4,871 + 9,932 - 7,061

Total assets 4,481,289 128,249 2,571,726 126,624 144,252 272,862 247,388 171,430 55,263 32,054 63,623 154,853 512,964

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, July 8, 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 1,508,678 49,561 488,915 50,639 80,455 104,529 207,522 106,254 48,634 26,660 41,841 118,804 184,863

Less: Notes held by F.R. Banks 181,887 5,950 63,887 5,441 9,522 12,532 22,257 11,030 4,815 2,880 4,731 14,266 24,575

Federal Reserve notes, net 1,326,791 43,611 425,029 45,198 70,934 91,997 185,265 95,224 43,819 23,780 37,110 104,537 160,288

Reverse repurchase agreements13 301,855 7,652 181,207 7,508 7,257 16,395 16,998 11,215 3,148 1,836 3,921 9,724 34,994

Deposits 2,786,753 74,190 1,942,452 70,338 61,331 150,757 41,157 63,088 7,580 5,933 21,834 39,488 308,605

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 2,585,343 74,186 1,741,184 70,335 61,328 150,686 41,148 63,083 7,543 5,933 21,833 39,487 308,597

U.S. Treasury, General Account 173,642 0 173,642 0 0 0 0 0 0 0 0 0 0

Foreign official 5,244 2 5,216 2 3 9 2 1 0 0 0 1 6

Other14 22,524 2 22,409 0 0 62 7 4 37 0 1 0 2

Deferred availability cash items 363 0 0 0 0 0 254 0 0 109 0 0 0

Interest on Federal Reserve notes due

to U.S. Treasury15 2,332 51 1,428 57 61 121 129 81 16 12 28 71 278

Other liabilities and accrued

dividends 4,903 143 2,543 175 184 447 304 243 134 131 115 174 309

Total liabilities 4,422,996 125,646 2,552,658 123,275 139,767 259,718 244,106 169,851 54,698 31,800 63,009 153,994 504,475

Capital

Capital paid in 29,146 1,302 9,534 1,675 2,243 6,572 1,641 790 283 127 307 430 4,245

Surplus 29,146 1,302 9,534 1,675 2,243 6,572 1,641 790 283 127 307 430 4,245

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

Total liabilities and capital 4,481,289 128,249 2,571,726 126,624 144,252 272,862 247,388 171,430 55,263 32,054 63,623 154,853 512,964

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, July 8, 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 Jul 8, 2015

Federal Reserve notes outstanding 1,508,678

Less: Notes held by F.R. Banks not subject to collateralization 181,887

Federal Reserve notes to be collateralized 1,326,791

Collateral held against Federal Reserve notes 1,326,791

Gold certificate account 11,037

Special drawing rights certificate account 5,200

U.S. Treasury, agency debt, and mortgage-backed securities pledged1,2 1,310,554

Other assets pledged 0

Memo:

Total U.S. Treasury, agency debt, and mortgage-backed securities1,2 4,229,062

Less: Face value of securities under reverse repurchase agreements 288,361

U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 3,940,702

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.