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Federal Reserve Statement 
Source: Encyclopedia of Banking & Finance (9h Edition) by Charles J Woelfel
(We recommend this as work of authority.)      

In accordance with Section 11 of the Federal Reserve Act, the Board of Governors of the Federal Reserve System shall publish once each week a statement showing the condition of each Federal Reserve bank and a consolidated statement for all Federal Reserve banks.  These statements shall show in detail the assets and liabilities of the Federal Reserve banks, singly and combined, and shall furnish full information regarding the character of the money held as reserve and the amount, nature, and maturities of the paper and other investments owned or held by Federal Reserve banks.  Pursuant to this requirement, the Consolidated Statement of Condition of All Federal Reserve Banks, published weekly on Fridays based on figures as of the close of business the preceding Wednesdays, includes comparative figures on the 12 Federal Reserve banks combined, as well as data on individual Federal Reserve banks, and also includes a maturity distribution of loans and securities for the 12 banks combined.

In the same weekly release of the board of governors (H.4.1) containing the Consolidated Statement of Condition of All Federal Reserve Banks, the board also publishes Factors Affecting Reserves of Depository Institutions.  These data afford an indication of the level of and factors affecting reserves of depository institutions, Federal Reserve bank credit, and related items, including estimates of the board as to required reserves and EXCESS RESERVES at Federal Reserve banks.

The consolidated balance sheet of the Federal Reserve Bank provides an accounting summary of all phases of Federal Reserve Bank operations.  This balance sheet, also known as the statement of condition of the Federal Reserve banks, is appended in a condensed form.

Major asset accounts in the consolidated balance sheet includes the following:

1. Gold certificate account.  This account represents warehouse receipts issued to the Reserve banks by the Treasury against its gold holdings.  In return the Reserve banks issue an equal value of credits to the Treasury deposit account.  This amount represents the nation's entire official gold stock.  New gold certificates credits may be issued only if the Treasury acquires additional gold or if the statutory price of gold is increased.

2. Special drawing rights certificate account.  This account reflects amounts created by the International Monetary Fund to serve as a supplement to the international monetary reserves of the members of the fund.  From time to time ESF monetizes SDRs by issuing SDR certificate credits to the Reserve banks.

3. Coin.  Coin represents only the amount of cons issued by the Treasury that the Reserve banks hold.  The public obtains coin from depository institutions.

4. Loans.  The amount of discount window credit extended by Federal Reserve banks to depository institutions.  The proceeds of such loans are credited to the accounts of depository institutions at the Federal Reserve.

5. Securities.  This account comprises mainly U.S. government securities (Treasury bills, notes, and bonds) and obligations of federal agencies, acquired originally through open market operations.

6. Cash items in process of collection.  Checks and other cash items that have been deposited with the Reserve banks for collection on behalf of an institution having an account.

7. Other assets.  This account consists of the value of Federal Reserve Bank premises, interest accrued, Federal Reserve holdings of foreign currency, and other items of minor importance.

Major liability accounts represented in the consolidated balance sheet include the following:

1. Federal Reserve notes.  The principal type of U.S. currency in circulation.
2. Deposits of depository institutions.  Reserve balances and service-related balances of depository institutions.  Deposits of the U.S. Treasury represent amounts the Treasury draws on these accounts to make payments by check or direct deposit for all major types of federal spending.  Deposits of foreign central banks and governments are deposit liabilities at the banks maintained with the Federal Reserve Bank of New York.  All the Reserve banks share in the deposit liability.  These deposits represent working balances held by foreign authorities for purposes of international settlement.  Other deposit liabilities include deposit to some U.S. government agencies and of international organization of which the U.S. is a member, as well as miscellaneous deposits.
3. Deferred availability cash items.  Such items arise because Reserve banks do not give immediate credit to the account of a depositing institution for all checks presented to the Reserve banks for collection.  The difference between the cash items in process of collection account and the deferred availability cash items account is referred to as Federal Reserve "float" and represents checks and other items that although not yet collected by the Reserve banks, have already been credited to the reserve balances of the institutions that deposited them.  Float measures the amount of Federal Reserve credit granted to the deposits of depository institutions that is generated by the Federal Reserve's involvement in the National process of check collection.
4. Other liabilities and accrued dividends.  This item consists of unearned discounts, discounts on securities, and miscellaneous accounts payable.

Capital accounts represented in the consolidated balance sheet include the following:

1. Capital paid in.  A bank that is a member of the Federal Reserve System must subscribe to the capital stock of the Reserve Bank of its district.  The total amount of the subscription is equal to 6% of the bank's current capital stock and surplus.  Of this amount 3% is "capital paid in," and 3% is subject to call by the Board of Governors.  These shares do not carry voting power to control the policies of the Reserve banks.  Member institutions are entitled by statute to a cumulative dividend of 6% per annum on the value of their paid-in stock.  Ownership of the stock many not be transferred, nor may the shares be used as collateral for loans.
2. Surplus account.  This account represents retained net earnings of the Reserve banks.
3. Other capital accounts.  This item reflects the unallocated net earnings for the current year up to the date of the statement.  The Reserve banks may draw on their surplus to meet deficits and to pay dividends in years when operations result in loss.  Virtually all net earnings of Federal Reserve Banks over the years have been paid to the U.S. Treasury.  Source:  Federal Reserve System.

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