FEDERAL RESERVE statistical release

H.4.1

Factors Affecting Reserve Balances of Depository Institutions and

Condition Statement of Federal Reserve Banks July 16, 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 15, 2015 Jul 8, 2015 Jul 16, 2014

Wednesday

Jul 15, 2015

Reserve Bank credit 4,449,067 + 6,949 + 100,155 4,455,635

Securities held outright1 4,233,839 + 4,825 + 110,711 4,240,941

U.S. Treasury securities 2,461,190 + 131 + 51,780 2,461,238

Bills2 0 0 0 0

Notes and bonds, nominal2 2,346,641 0 + 50,473 2,346,641

Notes and bonds, inflation-indexed2 98,534 0 + 1,286 98,534

Inflation compensation3 16,015 + 132 + 21 16,063

Federal agency debt securities2 35,895 0 - 7,476 35,895

Mortgage-backed securities4 1,736,754 + 4,694 + 66,406 1,743,807

Unamortized premiums on securities held outright5 197,694 - 188 - 11,603 197,777

Unamortized discounts on securities held outright5 -17,465 + 27 + 1,073 -17,459

Repurchase agreements6 0 0 0 0

Loans 170 - 13 - 49 185

Primary credit 2 - 11 - 2 6

Secondary credit 0 0 0 0

Seasonal credit 168 - 2 + 3 179

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

Other credit extensions 0 0 0 0

Net portfolio holdings of Maiden Lane LLC8 1,698 + 2 + 42 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 - 60 0

Float -467 - 203 + 138 -260

Central bank liquidity swaps11 308 + 153 + 184 308

Other Federal Reserve assets12 33,290 + 2,346 - 196 32,445

Foreign currency denominated assets13 19,689 - 33 - 4,298 19,514

Gold stock 11,041 0 0 11,041

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

Treasury currency outstanding14 46,925 + 14 + 928 46,925

Total factors supplying reserve funds 4,531,923 + 6,931 + 96,786 4,538,315

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 15, 2015 Jul 8, 2015 Jul 16, 2014

Wednesday

Jul 15, 2015

Currency in circulation14 1,370,247 - 754 + 84,783 1,370,650

Reverse repurchase agreements15 270,056 - 55,686 + 55,948 256,024

Foreign official and international accounts 153,868 - 3,414 + 50,936 152,807

Others 116,188 - 52,273 + 5,012 103,217

Treasury cash holdings 81 - 3 - 61 96

Deposits with F.R. Banks, other than reserve balances 204,487 - 2,695 - 26,853 190,919

Term deposits held by depository institutions 0 0 - 152,795 0

U.S. Treasury, General Account 176,411 - 6,185 + 117,027 175,706

Foreign official 5,243 - 19 - 948 5,244

Other16 22,832 + 3,508 + 9,862 9,968

Other liabilities and capital17 66,915 + 1,031 + 2,518 65,481

Total factors, other than reserve balances,

absorbing reserve funds 1,911,786 - 58,107 + 116,334 1,883,170

Reserve balances with Federal Reserve Banks 2,620,137 + 65,037 - 19,548 2,655,145

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 15, 2015 Jul 8, 2015 Jul 16, 2014

Wednesday

Jul 15, 2015

Securities held in custody for foreign official and international

accounts 3,344,605 - 22,795 + 32,789 3,352,630

Marketable U.S. Treasury securities1 3,000,959 - 22,580 + 22,414 3,009,134

Federal agency debt and mortgage-backed securities2 298,865 + 201 + 7,845 299,344

Other securities3 44,781 - 416 + 2,531 44,152

Securities lent to dealers 9,686 - 1,401 - 2,250 10,956

Overnight facility4 9,686 - 1,401 - 2,250 10,956

U.S. Treasury securities 9,606 - 1,353 - 1,266 10,889

Federal agency debt securities 80 - 48 - 983 67

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 15, 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 59 126 0 0 0 ... 185

U.S. Treasury securities1

Holdings 0 1,289 143,134 1,102,998 569,285 644,533 2,461,238

Weekly changes 0 0 0 + 4,905 - 4,860 + 87 + 131

Federal agency debt securities2

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

Weekly changes 0 0 0 0 0 0 0

Mortgage-backed securities3

Holdings 0 0 0 79 9,633 1,734,096 1,743,807

Weekly changes 0 0 0 0 - 46 + 11,794 + 11,747

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

Central bank liquidity swaps5 308 0 0 0 0 0 308

Reverse repurchase agreements4 256,024 0 ... ... ... ... 256,024

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 15, 2015

Mortgage-backed securities held outright1 1,743,807

Commitments to buy mortgage-backed securities2 26,858

Commitments to sell mortgage-backed securities2 0

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 Jul 15, 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 15, 2015 Jul 8, 2015 Jul 16, 2014

Assets

Gold certificate account 11,037 0 0

Special drawing rights certificate account 5,200 0 0

Coin 1,882 0 - 14

Securities, unamortized premiums and discounts,

repurchase agreements, and loans 4,421,443 + 11,904 + 100,280

Securities held outright1 4,240,941 + 11,879 + 110,976

U.S. Treasury securities 2,461,238 + 131 + 50,899

Bills2 0 0 0

Notes and bonds, nominal2 2,346,641 0 + 49,663

Notes and bonds, inflation-indexed2 98,534 0 + 1,207

Inflation compensation3 16,063 + 132 + 29

Federal agency debt securities2 35,895 0 - 6,755

Mortgage-backed securities4 1,743,807 + 11,747 + 66,831

Unamortized premiums on securities held outright5 197,777 - 9 - 11,744

Unamortized discounts on securities held outright5 -17,459 + 23 + 1,101

Repurchase agreements6 0 0 0

Loans 185 + 13 - 52

Net portfolio holdings of Maiden Lane LLC7 1,698 0 + 36

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) 77 + 9 + 2

Bank premises 2,241 + 1 - 21

Central bank liquidity swaps10 308 + 153 + 184

Foreign currency denominated assets11 19,514 - 326 - 4,388

Other assets12 30,204 + 573 - 531

Total assets (0) 4,493,605 + 12,316 + 95,404

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 15, 2015 Jul 8, 2015 Jul 16, 2014

Liabilities

Federal Reserve notes, net of F.R. Bank holdings 1,325,699 - 1,092 + 84,412

Reverse repurchase agreements13 256,024 - 45,831 + 46,548

Deposits (0) 2,846,064 + 59,311 - 38,108

Term deposits held by depository institutions 0 0 - 152,795

Other deposits held by depository institutions 2,655,145 + 69,802 + 927

U.S. Treasury, General Account 175,706 + 2,064 + 111,969

Foreign official 5,244 0 - 1,322

Other14 (0) 9,968 - 12,556 + 3,112

Deferred availability cash items (0) 337 - 26 - 352

Other liabilities and accrued dividends15 7,183 - 52 + 927

Total liabilities (0) 4,435,307 + 12,311 + 93,427

Capital accounts

Capital paid in 29,149 + 3 + 988

Surplus 29,149 + 3 + 988

Other capital accounts 0 0 0

Total capital 58,298 + 5 + 1,977

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 15, 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 38 64 131 129 301 199 276 32 45 150 194 323

Securities, unamortized premiums and

discounts, repurchase agreements,

and loans 4,421,443 112,079 2,654,134 109,965 106,298 240,134 248,996 164,280 46,144 26,982 57,442 142,429 512,561

Securities held outright1 4,240,941 107,506 2,545,888 105,479 101,962 230,341 238,816 157,570 44,227 25,792 55,092 136,615 491,654

U.S. Treasury securities 2,461,238 62,391 1,477,511 61,215 59,174 133,679 138,597 91,446 25,667 14,968 31,973 79,285 285,333

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

Notes and bonds3 2,461,238 62,391 1,477,511 61,215 59,174 133,679 138,597 91,446 25,667 14,968 31,973 79,285 285,333

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 1,743,807 44,205 1,046,829 43,371 41,925 94,712 98,197 64,790 18,185 10,605 22,653 56,174 202,160

Unamortized premiums on securities 

held outright5 197,777 5,014 118,728 4,919 4,755 10,742 11,137 7,348 2,063 1,203 2,569 6,371 22,928

Unamortized discounts on securities 

held outright5 -17,459 -443 -10,481 -434 -420 -948 -983 -649 -182 -106 -227 -562 -2,024

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

Loans 185 2 0 1 0 0 26 11 37 94 7 6 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 77 0 0 0 0 0 76 0 0 1 0 0 0

Bank premises 2,241 126 437 73 108 216 208 204 119 94 239 220 197

Central bank liquidity swaps10 308 14 99 17 24 71 18 8 3 1 3 4 45

Foreign currency denominated

assets11 19,514 885 6,292 1,090 1,521 4,477 1,110 524 182 82 205 281 2,865

Other assets12 30,204 809 17,636 762 739 1,807 1,712 1,133 403 213 432 1,045 3,512

Interdistrict settlement account 0 + 16,671 - 101,770 + 14,359 + 32,853 + 26,411 - 11,478 + 7,960 + 7,692 + 4,194 + 3,406 + 8,277 - 8,577

Total assets 4,493,605 131,164 2,584,118 126,947 142,414 274,613 243,095 175,544 55,024 31,873 62,318 153,624 512,870

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 15, 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 1,508,227 49,491 489,184 50,586 80,513 104,369 207,261 106,269 49,045 26,749 41,790 118,657 184,313

Less: Notes held by F.R. Banks 182,528 6,012 63,462 5,454 9,551 12,686 22,609 10,972 4,910 2,901 4,708 14,209 25,057

Federal Reserve notes, net 1,325,699 43,480 425,722 45,133 70,962 91,684 184,651 95,298 44,135 23,848 37,083 104,448 159,256

Reverse repurchase agreements13 256,024 6,490 153,694 6,368 6,155 13,906 14,417 9,512 2,670 1,557 3,326 8,247 29,681

Deposits 2,846,064 78,393 1,981,628 71,877 60,590 155,372 40,057 68,824 7,496 5,987 21,150 39,814 314,875

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 2,655,145 78,389 1,790,846 71,875 60,587 155,309 40,048 68,820 7,460 5,987 21,149 39,810 314,867

U.S. Treasury, General Account 175,706 0 175,706 0 0 0 0 0 0 0 0 0 0

Foreign official 5,244 2 5,217 2 3 9 2 1 0 0 0 1 6

Other14 9,968 2 9,859 0 0 54 7 4 36 0 1 3 2

Deferred availability cash items 337 0 0 0 0 0 252 0 0 85 0 0 0

Interest on Federal Reserve notes due

to U.S. Treasury15 1,627 27 1,102 26 23 25 92 64 9 9 15 56 178

Other liabilities and accrued

dividends 5,556 172 2,903 195 198 482 344 266 143 133 130 200 391

Total liabilities 4,435,307 128,561 2,565,050 123,598 137,928 261,469 239,814 173,965 54,453 31,619 61,704 152,765 504,381

Capital

Capital paid in 29,149 1,302 9,534 1,675 2,243 6,572 1,641 790 285 127 307 430 4,245

Surplus 29,149 1,302 9,534 1,675 2,243 6,572 1,641 790 285 127 307 430 4,245

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

Total liabilities and capital 4,493,605 131,164 2,584,118 126,947 142,414 274,613 243,095 175,544 55,024 31,873 62,318 153,624 512,870

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 15, 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 15, 2015

Federal Reserve notes outstanding 1,508,227

Less: Notes held by F.R. Banks not subject to collateralization 182,528

Federal Reserve notes to be collateralized 1,325,699

Collateral held against Federal Reserve notes 1,325,699

Gold certificate account 11,037

Special drawing rights certificate account 5,200

U.S. Treasury, agency debt, and mortgage-backed securities pledged1,2 1,309,462

Other assets pledged 0

Memo:

Total U.S. Treasury, agency debt, and mortgage-backed securities1,2 4,240,941

Less: Face value of securities under reverse repurchase agreements 238,804

U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 4,002,137

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.