---

`FEDERAL RESERVE statistical release

H.4.1

Factors Affecting Reserve Balances of Depository Institutions and     
Condition Statement of Federal Reserve Banks                                                  January 2, 2015


1. Factors Affecting Reserve Balances of Depository Institutions
Millions of dollars
Reserve Bank credit, related items, and                          Averages of daily figures         Wednesday  
reserve balances of depository institutions at             Week ended    Change from week ended  Dec 31, 2014 
Federal Reserve Banks                                     Dec 31, 2014 Dec 24, 2014  Jan 1, 2014              

Reserve Bank credit                                         4,459,689   -   11,879   +  478,177    4,457,837  
  Securities held outright (1)                              4,238,404   -   11,548   +  482,232    4,236,873  
    U.S. Treasury securities                                2,461,388   -       64   +  252,597    2,461,364  
      Bills (2)                                                     0            0            0            0  
      Notes and bonds, nominal (2)                          2,346,712            0   +  242,840    2,346,712  
      Notes and bonds, inflation-indexed (2)                   98,469            0   +    7,090       98,469  
      Inflation compensation (3)                               16,207   -       64   +    2,667       16,183  
    Federal agency debt securities (2)                         38,677            0   -   18,544       38,677  
    Mortgage-backed securities (4)                          1,738,339   -   11,483   +  248,179    1,736,832  
  Unamortized premiums on securities held outright (5)        207,016   -      745   -    1,681      206,835  
  Unamortized discounts on securities held outright (5)       -18,406   +       35   -    6,049      -18,394  
  Repurchase agreements (6)                                         0            0            0            0  
  Loans                                                           135   +       23   -       38          145  
    Primary credit                                                 50   +       18   +       33           79  
    Secondary credit                                                0            0            0            0  
    Seasonal credit                                                85   +        5   +       26           67  
    Term Asset-Backed Securities Loan Facility (7)                  0            0   -       97            0  
    Other credit extensions                                         0            0            0            0  
  Net portfolio holdings of Maiden Lane LLC (8)                 1,678            0   +      137        1,678  
  Net portfolio holdings of Maiden Lane II LLC (9)                  0            0   -       63            0  
  Net portfolio holdings of Maiden Lane III LLC (9)                 0            0   -       22            0  
  Net portfolio holdings of TALF LLC (10)                           0            0   -      109            0  
  Float                                                          -436   +       37   +      133         -555  
  Central bank liquidity swaps (11)                               672   +      642   +      400        1,528  
  Other Federal Reserve assets (12)                            30,627   -      323   +    3,240       29,726  
Foreign currency denominated assets (13)                       21,049   -       82   -    2,771       21,071  
Gold stock                                                     11,041            0            0       11,041  
Special drawing rights certificate account                      5,200            0            0        5,200  
Treasury currency outstanding (14)                             46,353   +       14   +      860       46,353  
                                                                                                              
Total factors supplying reserve funds                       4,543,332   -   11,947   +  476,267    4,541,502  

Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table.





1. Factors Affecting Reserve Balances of Depository Institutions (continued)
Millions of dollars
Reserve Bank credit, related items, and                          Averages of daily figures         Wednesday  
reserve balances of depository institutions at             Week ended    Change from week ended  Dec 31, 2014 
Federal Reserve Banks                                     Dec 31, 2014 Dec 24, 2014  Jan 1, 2014              

Currency in circulation (14)                                 1,341,572   +    8,671   +  101,111    1,343,008 
Reverse repurchase agreements (15)                             346,451   +   66,004   +  111,365      509,837 
  Foreign official and international accounts                  104,682   +    6,408   -   11,827      113,132 
  Others                                                       241,769   +   59,596   +  123,192      396,705 
Treasury cash holdings                                             197   +        6   -       38          201 
Deposits with F.R. Banks, other than reserve balances          216,845   +   21,300   +   63,496      249,014 
  Term deposits held by depository institutions                      0            0            0            0 
  U.S. Treasury, General Account                               192,063   +   16,970   +   86,959      223,452 
  Foreign official                                               5,214   +        1   -    2,768        5,242 
  Other (16)                                                    19,567   +    4,328   -   20,697       20,320 
Other liabilities and capital (17)                              63,481   -      912   +      180       61,447 
                                                                                                              
Total factors, other than reserve balances,               
    absorbing reserve funds                                  1,968,546   +   95,068   +  276,114    2,163,507 
                                                                                                              
Reserve balances with Federal Reserve Banks                  2,574,784   -  107,017   +  200,151    2,377,995 

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.





1A. Memorandum Items
Millions of dollars
Memorandum item                                                  Averages of daily figures         Wednesday  
                                                           Week ended    Change from week ended  Dec 31, 2014 
                                                          Dec 31, 2014 Dec 24, 2014  Jan 1, 2014              

Securities held in custody for foreign official and       
     international accounts                                  3,293,152   -   14,979   -   60,689    3,298,372 
  Marketable U.S. Treasury securities (1)                    2,959,985   -   12,947   -   38,654    2,965,585 
  Federal agency debt and mortgage-backed securities (2)       291,350   -    2,038   -   20,439      290,949 
  Other securities (3)                                          41,817   +        6   -    1,596       41,838 
Securities lent to dealers                                      10,835   -    1,541   -    3,935       10,721 
  Overnight facility (4)                                        10,835   -    1,541   -    3,935       10,721 
    U.S. Treasury securities                                    10,162   -    1,556   -    3,558       10,105 
    Federal agency debt securities                                 673   +       15   -      377          616 

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, December 31, 2014   

Millions of dollars
Remaining Maturity                     Within 15     16 days to    91 days to   Over 1 year   Over 5 year     Over 10         All      
                                          days        90 days        1 year      to 5 years   to 10 years      years                   

Loans                                          140             5             0             0             0           ...           145 
U.S. Treasury securities (1)                                                                                                           
  Holdings                                       0             5         3,516     1,112,927       686,627       658,289     2,461,364 
  Weekly changes                        -        1    +        1             0    +    7,074    -    7,089    -       41    -       56 
Federal agency debt securities (2)                                                                                                     
  Holdings                                   1,089           711         3,933        30,597             0         2,347        38,677 
  Weekly changes                        +    1,089    -    1,089             0             0             0             0             0 
Mortgage-backed securities (3)                                                                                                         
  Holdings                                       0             0             0            12         6,453     1,730,367     1,736,832 
  Weekly changes                                 0             0             0    -        1    -      110    -   10,434    -   10,545 
Repurchase agreements (4)                        0             0           ...           ...           ...           ...             0 
Central bank liquidity swaps (5)             1,528             0             0             0             0             0         1,528 
                                                                                                                                       
Reverse repurchase agreements (4)          509,837             0           ...           ...           ...           ...       509,837 
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.     
                                                                                                            






3. Supplemental Information on Mortgage-Backed Securities
Millions of dollars
Account name                                                                                                            Wednesday   
                                                                                                                      Dec 31, 2014  

Mortgage-backed securities held outright (1)                                                                             1,736,832  
                                                                                                                                    
Commitments to buy mortgage-backed securities (2)                                                                           27,486  
Commitments to sell mortgage-backed securities (2)                                                                               0  
                                                                                                                                    
Cash and cash equivalents (3)                                                                                                   29  



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
Account name                                                                                                            Wednesday   
                                                                                                                      Dec 31, 2014  

Net portfolio holdings of Maiden Lane LLC (1)                                                                                1,678  
                                                                                                                                    
Outstanding principal amount of loan extended by the Federal Reserve Bank of New York (2)                                        0  
Accrued interest payable to the Federal Reserve Bank of New York (2)                                                             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.

                                                                          






5. Consolidated Statement of Condition of All Federal Reserve Banks
Millions of dollars
Assets, liabilities, and capital                         Eliminations     Wednesday         Change since       
                                                             from       Dec 31, 2014   Wednesday    Wednesday  
                                                        consolidation                Dec 24, 2014  Jan 1, 2014 

Assets                                                                                                         
  Gold certificate account                                                   11,037            0            0  
  Special drawing rights certificate account                                  5,200            0            0  
  Coin                                                                        1,873   +        2   -       82  
  Securities, unamortized premiums and discounts,     
     repurchase agreements, and loans                                     4,425,460   -   11,174   +  472,873  
    Securities held outright (1)                                          4,236,873   -   10,601   +  480,715  
      U.S. Treasury securities                                            2,461,364   -       56   +  252,589  
        Bills (2)                                                                 0            0            0  
        Notes and bonds, nominal (2)                                      2,346,712            0   +  242,841  
        Notes and bonds, inflation-indexed (2)                               98,469            0   +    7,090  
        Inflation compensation (3)                                           16,183   -       56   +    2,658  
      Federal agency debt securities (2)                                     38,677            0   -   18,544  
      Mortgage-backed securities (4)                                      1,736,832   -   10,545   +  246,670  
    Unamortized premiums on securities held outright  
    (5)                                                                     206,835   -      631   -    1,775  
    Unamortized discounts on securities held outright 
    (5)                                                                     -18,394   +       31   -    6,042  
    Repurchase agreements (6)                                                     0            0            0  
    Loans                                                                       145   +       26   -       26  
  Net portfolio holdings of Maiden Lane LLC (7)                               1,678            0   +      137  
  Net portfolio holdings of Maiden Lane II LLC (8)                                0            0   -       63  
  Net portfolio holdings of Maiden Lane III LLC (8)                               0            0   -       22  
  Net portfolio holdings of TALF LLC (9)                                          0            0   -      109  
  Items in process of collection                                   (0)           86   -       40   -       79  
  Bank premises                                                               2,264   -        1   -       25  
  Central bank liquidity swaps (10)                                           1,528   +    1,498   +    1,256  
  Foreign currency denominated assets (11)                                   21,071   +       30   -    2,750  
  Other assets (12)                                                          27,463   -    2,117   +    2,884  
                                                                                                               
Total assets                                                       (0)    4,497,660   -   11,802   +  474,020  

Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table.





5. Consolidated Statement of Condition of All Federal Reserve Banks (continued)
Millions of dollars
Assets, liabilities, and capital                         Eliminations     Wednesday         Change since       
                                                             from       Dec 31, 2014   Wednesday    Wednesday  
                                                        consolidation                Dec 24, 2014  Jan 1, 2014 

Liabilities                                                                                                    
  Federal Reserve notes, net of F.R. Bank holdings                         1,298,725   +    4,478   +  100,805 
  Reverse repurchase agreements (13)                                         509,837   +  211,004   +  193,913 
  Deposits                                                          (0)    2,627,009   -  225,438   +  181,389 
    Term deposits held by depository institutions                                  0            0            0 
    Other deposits held by depository institutions                         2,377,996   -  231,639   +  128,926 
    U.S. Treasury, General Account                                           223,452   +   45,541   +   61,053 
    Foreign official                                                           5,242   +       33   -    2,728 
    Other (14)                                                      (0)       20,320   -   39,372   -    5,861 
  Deferred availability cash items                                  (0)          641   -       17   -      486 
  Other liabilities and accrued dividends (15)                                 4,304   -    1,838   -    3,731 
                                                                                                               
Total liabilities                                                   (0)    4,440,516   -   11,811   +  471,889 
                                                                                                               
Capital accounts                                                                                               
  Capital paid in                                                             28,572   +        4   +    1,065 
  Surplus                                                                     28,572   +        4   +    1,065 
  Other capital accounts                                                           0            0            0 
                                                                                                               
Total capital                                                                 57,144   +        9   +    2,130 

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.                      

 



6. Statement of Condition of Each Federal Reserve Bank, December 31, 2014
Millions of dollars
Assets, liabilities, and capital               Total       Boston     New York  Philadelphia  Cleveland    Richmond    Atlanta     Chicago    St. Louis  Minneapolis    Kansas      Dallas       San     
                                                                                                                                                                         City                 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                                             1,873          30          79          122         120         307         208         279          23          45         152         188         320
  Securities, unamortized premiums and      
     discounts, repurchase agreements,      
     and loans                                 4,425,460      89,527   2,716,101      106,024      96,620     247,335     244,634     180,899      54,583      27,168      58,322     134,841     469,405
    Securities held outright (1)               4,236,873      85,704   2,600,438      101,503      92,506     236,802     234,212     173,167      52,259      25,965      55,809     129,099     449,409
      U.S. Treasury securities                 2,461,364      49,789   1,510,695       58,967      53,740     137,567     136,063     100,599      30,359      15,084      32,422      74,998     261,079
        Bills (2)                                      0           0           0            0           0           0           0           0           0           0           0           0           0
        Notes and bonds (3)                    2,461,364      49,789   1,510,695       58,967      53,740     137,567     136,063     100,599      30,359      15,084      32,422      74,998     261,079
      Federal agency debt securities (2)          38,677         782      23,739          927         844       2,162       2,138       1,581         477         237         509       1,178       4,103
      Mortgage-backed securities (4)           1,736,832      35,133   1,066,005       41,609      37,921      97,073      96,011      70,987      21,423      10,644      22,878      52,922     184,228
    Unamortized premiums on securities held 
      outright (5)                               206,835       4,184     126,948        4,955       4,516      11,560      11,434       8,454       2,551       1,268       2,725       6,302      21,939
    Unamortized discounts on securities     
      held outright (5)                          -18,394        -372     -11,290         -441        -402      -1,028      -1,017        -752        -227        -113        -242        -560      -1,951
    Repurchase agreements (6)                          0           0           0            0           0           0           0           0           0           0           0           0           0
    Loans                                            145          11           4            7           0           1           5          30           0          48          31           0           8
  Net portfolio holdings of Maiden                                                                                                                                                                       
     Lane LLC (7)                                  1,678           0       1,678            0           0           0           0           0           0           0           0           0           0
  Net portfolio holdings of Maiden                                                                                                                                                                       
     Lane II LLC (8)                                   0           0           0            0           0           0           0           0           0           0           0           0           0
  Net portfolio holdings of Maiden                                                                                                                                                                       
     Lane III LLC (8)                                  0           0           0            0           0           0           0           0           0           0           0           0           0
  Net portfolio holdings of TALF LLC (9)               0           0           0            0           0           0           0           0           0           0           0           0           0
  Items in process of collection                      86           0           0            0           0           0          85           0           0           0           0           0           0
  Bank premises                                    2,264         125         437           76         110         220         212         201         122          96         241         223         201
  Central bank liquidity swaps (10)                1,528          70         491          115         122         319          88          42          13           6          16          26         221
  Foreign currency denominated                                                                                                                                                                           
     assets (11)                                  21,071         954       6,836        1,578       1,669       4,376       1,206         579         176          89         221         351       3,036
  Other assets (12)                               27,463         587      16,633          658         602       1,676       1,516       1,112         396         199         388         841       2,856
  Interdistrict settlement account                     0  +   49,256  -  187,135   -    3,978  +   38,310  -    2,866  +   13,822  -      756  -    4,413  +    3,822  +    3,791  +   23,463  +   66,685
                                                                                                                                                                                                         
Total assets                                   4,497,660     141,096   2,561,062      105,142     138,253     252,603     263,774     183,488      51,328      31,688      63,576     161,094     544,556

Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table.





6. Statement of Condition of Each Federal Reserve Bank, December 31, 2014 (continued)
Millions of dollars
Assets, liabilities, and capital               Total       Boston     New York  Philadelphia Cleveland    Richmond    Atlanta     Chicago    St. Louis  Minneapolis    Kansas      Dallas       San     
                                                                                                                                                                        City                 Francisco  

Liabilities                                                                                                                                                                                             
  Federal Reserve notes outstanding            1,469,554      45,981     475,436      46,584      68,797     103,501     214,071     101,542      41,505      23,234      38,360     120,016     190,528
    Less: Notes held by F.R. Banks               170,829       4,688      56,971       4,940       7,811      11,153      22,254      10,427       4,734       3,078       4,537      14,760      25,477
      Federal Reserve notes, net               1,298,725      41,292     418,465      41,644      60,986      92,348     191,817      91,115      36,771      20,156      33,822     105,257     165,052
  Reverse repurchase agreements (13)             509,837      10,313     312,919      12,214      11,132      28,495      28,183      20,838       6,288       3,124       6,716      15,535      54,079
  Deposits                                     2,627,009      86,762   1,809,358      47,925      61,516     118,197      39,638      69,740       7,610       7,978      22,333      39,294     316,657
    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                           2,377,996      86,758   1,560,513      47,897      61,513     118,097      39,629      69,727       7,610       7,978      22,332      39,292     316,649
    U.S. Treasury, General Account               223,452           0     223,452           0           0           0           0           0           0           0           0           0           0
    Foreign official                               5,242           2       5,214           3           3           8           2           1           0           0           0           1           6
    Other (14)                                    20,320           2      20,178          25           0          92           6          12           0           0           1           1           2
  Deferred availability cash items                   641           0           3           0           0           0         556           0           0          82           0           0           0
  Interest on Federal Reserve notes due     
     to U.S. Treasury (15)                         1,161          15         769          20          14          65          69          38           9           4          11          26         121
  Other liabilities and accrued             
     dividends (16)                                3,143         123       1,132         146         149         383         260         222         117         104          93         159         255
                                                                                                                                                                                                        
Total liabilities                              4,440,516     138,505   2,542,647     101,949     133,798     239,489     260,523     181,953      50,796      31,448      62,975     160,270     536,164
                                                                                                                                                                                                        
Capital                                                                                                                                                                                                 
  Capital paid in                                 28,572       1,296       9,208       1,597       2,228       6,557       1,626         767         266         120         301         412       4,196
  Surplus                                         28,572       1,296       9,208       1,597       2,228       6,557       1,626         767         266         120         301         412       4,196
  Other capital                                        0           0           0           0           0           0           0           0           0           0           0           0           0
                                                                                                                                                                                                        
Total liabilities and capital                  4,497,660     141,096   2,561,062     105,142     138,253     252,603     263,774     183,488      51,328      31,688      63,576     161,094     544,556

Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table.





6. Statement of Condition of Each Federal Reserve Bank, December 31, 2014 (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).

                                                                           



7. Collateral Held against Federal Reserve Notes: Federal Reserve Agents' Accounts
Millions of dollars
Federal Reserve notes and collateral                                                        Wednesday   
                                                                                          Dec 31, 2014  

Federal Reserve notes outstanding                                                            1,469,554  
  Less: Notes held by F.R. Banks not subject to collateralization                              170,829  
    Federal Reserve notes to be collateralized                                               1,298,725  
Collateral held against Federal Reserve notes                                                1,298,725  
  Gold certificate account                                                                      11,037  
  Special drawing rights certificate account                                                     5,200  
  U.S. Treasury, agency debt, and mortgage-backed securities pledged (1,2)                   1,282,489  
  Other assets pledged                                                                               0  
Memo:                                                                                                   
Total U.S. Treasury, agency debt, and mortgage-backed securities (1,2)                       4,236,873  
  Less: Face value of securities under reverse repurchase agreements                           473,590  
    U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged        3,763,283  

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.`

Statistical releases

---

Home Economic research and data  Accessibility Contact Us  Last update: January 2, 2015