FEDERAL RESERVE statistical release

H.4.1

Factors Affecting Reserve Balances of Depository Institutions and

Condition Statement of Federal Reserve Banks February 11, 2016

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

Feb 10, 2016 Feb 3, 2016 Feb 11, 2015

Wednesday

Feb 10, 2016

Reserve Bank credit 4,446,480 + 1,594 - 15,891 4,447,120

Securities held outright1 4,236,707 - 91 + 192 4,236,672

U.S. Treasury securities 2,461,209 - 92 + 660 2,461,174

Bills2 0 0 0 0

Notes and bonds, nominal2 2,346,639 0 - 72 2,346,639

Notes and bonds, inflation-indexed2 98,534 0 + 65 98,534

Inflation compensation3 16,037 - 92 + 668 16,002

Federal agency debt securities2 31,318 0 - 5,965 31,318

Mortgage-backed securities4 1,744,180 + 1 + 5,498 1,744,180

Unamortized premiums on securities held outright5 187,446 - 346 - 17,710 187,319

Unamortized discounts on securities held outright5 -16,392 + 28 + 1,816 -16,380

Repurchase agreements6 0 0 0 0

Loans 22 - 51 + 9 11

Primary credit 12 - 53 + 4 0

Secondary credit 0 0 0 0

Seasonal credit 9 + 1 + 4 11

Other credit extensions 0 0 0 0

Net portfolio holdings of Maiden Lane LLC7 1,722 0 + 36 1,722

Float -87 - 10 + 333 -287

Central bank liquidity swaps8 91 0 + 91 91

Other Federal Reserve assets9 36,971 + 2,065 - 657 37,972

Foreign currency denominated assets10 20,274 + 568 + 63 20,458

Gold stock 11,041 0 0 11,041

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

Treasury currency outstanding11 47,651 + 14 + 1,147 47,651

Total factors supplying reserve funds 4,530,646 + 2,176 - 14,680 4,531,469

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

Feb 10, 2016 Feb 3, 2016 Feb 11, 2015

Wednesday

Feb 10, 2016

Currency in circulation11 1,416,791 + 3,055 + 78,903 1,419,334

Reverse repurchase agreements12 284,923 - 36,706 + 40,385 282,372

Foreign official and international accounts 236,382 + 4,232 + 114,506 234,398

Others 48,541 - 40,937 - 74,121 47,974

Treasury cash holdings 248 - 16 + 46 241

Deposits with F.R. Banks, other than reserve balances 339,672 - 31,826 - 22,694 299,905

Term deposits held by depository institutions 0 0 - 188,083 0

U.S. Treasury, General Account 317,303 - 33,555 + 158,396 276,161

Foreign official 5,269 - 7 + 52 5,237

Other13 17,100 + 1,736 + 6,941 18,507

Other liabilities and capital14 47,186 + 814 - 16,539 46,477

Total factors, other than reserve balances,

absorbing reserve funds 2,088,820 - 64,679 + 80,100 2,048,330

Reserve balances with Federal Reserve Banks 2,441,826 + 66,855 - 94,781 2,483,140

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. Refer to table 4 and the note on consolidation accompanying table 6.

8. 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.

9. 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.

10. Revalued daily at current foreign currency exchange rates.

11. Estimated.

12. Cash value of agreements, which are collateralized by U.S. Treasury securities, federal agency debt securities, and mortgage-backed securities.

13. Includes deposits held at the Reserve Banks by international and multilateral organizations, government-sponsored enterprises, and designated

financial market utilities.

14. Includes the liability for earnings remittances due to the 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

Feb 10, 2016 Feb 3, 2016 Feb 11, 2015

Wednesday

Feb 10, 2016

Securities held in custody for foreign official and international

accounts 3,267,201 - 6,312 + 6,938 3,263,713

Marketable U.S. Treasury securities1 2,955,398 - 6,831 + 24,152 2,951,907

Federal agency debt and mortgage-backed securities2 263,699 + 285 - 22,741 263,538

Other securities3 48,103 + 233 + 5,525 48,268

Securities lent to dealers 12,773 - 2,715 + 1,505 12,681

Overnight facility4 12,773 - 2,715 + 1,505 12,681

U.S. Treasury securities 12,727 - 2,694 + 1,894 12,637

Federal agency debt securities 46 - 22 - 389 44

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, February 10, 2016

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 0 11 0 0 0 ... 11

U.S. Treasury securities1

Holdings 4,868 83,192 136,531 1,118,217 485,016 633,351 2,461,174

Weekly changes 0 0 - 6 - 16 - 13 - 59 - 95

Federal agency debt securities2

Holdings 0 4,222 10,916 13,833 0 2,347 31,318

Weekly changes 0 0 0 0 0 0 0

Mortgage-backed securities3

Holdings 0 0 0 699 8,903 1,734,578 1,744,180

Weekly changes 0 0 0 0 + 30 - 30 + 1

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

Central bank liquidity swaps5 91 0 0 0 0 0 91

Reverse repurchase agreements4 282,372 0 ... ... ... ... 282,372

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 Feb 10, 2016

Mortgage-backed securities held outright1 1,744,180

Commitments to buy mortgage-backed securities2 37,529

Commitments to sell mortgage-backed securities2 0

Cash and cash equivalents3 2

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 Feb 10, 2016

Net portfolio holdings of Maiden Lane LLC1 1,722

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 December 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

Feb 10, 2016 Feb 3, 2016 Feb 11, 2015

Assets

Gold certificate account 11,037 0 0

Special drawing rights certificate account 5,200 0 0

Coin 2,006 + 7 + 49

Securities, unamortized premiums and discounts,

repurchase agreements, and loans 4,407,622 - 399 - 15,289

Securities held outright1 4,236,672 - 94 + 609

U.S. Treasury securities 2,461,174 - 95 + 684

Bills2 0 0 0

Notes and bonds, nominal2 2,346,639 0 - 72

Notes and bonds, inflation-indexed2 98,534 0 + 65

Inflation compensation3 16,002 - 95 + 692

Federal agency debt securities2 31,318 0 - 5,559

Mortgage-backed securities4 1,744,180 + 1 + 5,484

Unamortized premiums on securities held outright5 187,319 - 337 - 17,708

Unamortized discounts on securities held outright5 -16,380 + 31 + 1,816

Repurchase agreements6 0 0 0

Loans 11 + 1 - 6

Net portfolio holdings of Maiden Lane LLC7 1,722 0 + 36

Items in process of collection (0) 172 - 19 - 2

Bank premises 2,231 + 1 - 22

Central bank liquidity swaps8 91 0 + 91

Foreign currency denominated assets9 20,458 + 457 + 374

Other assets10 35,741 + 2,739 - 643

Total assets (0) 4,486,278 + 2,783 - 15,407

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

Feb 10, 2016 Feb 3, 2016 Feb 11, 2015

Liabilities

Federal Reserve notes, net of F.R. Bank holdings 1,373,926 + 3,672 + 75,819

Reverse repurchase agreements11 282,372 - 9,899 + 33,797

Deposits (0) 2,783,045 + 8,661 - 107,827

Term deposits held by depository institutions 0 0 - 188,083

Other deposits held by depository institutions 2,483,140 + 41,864 - 75,073

U.S. Treasury, General Account 276,161 - 36,472 + 145,396

Foreign official 5,237 - 302 + 24

Other12 (0) 18,507 + 3,571 + 9,909

Deferred availability cash items (0) 458 + 260 - 125

Other liabilities and accrued dividends13 6,965 + 84 + 645

Total liabilities (0) 4,446,766 + 2,777 + 2,309

Capital accounts

Capital paid in 29,512 + 6 + 898

Surplus 10,000 0 - 18,614

Other capital accounts 0 0 0

Total capital 39,512 + 6 - 17,716

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. 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.

9. Revalued daily at current foreign currency exchange rates.

10. Includes accrued interest, which represents the daily accumulation of interest earned, and other accounts receivable.

11. Cash value of agreements, which are collateralized by U.S. Treasury securities, federal agency debt securities, and mortgage-backed securities.

12. Includes deposits held at the Reserve Banks by international and multilateral organizations, government-sponsored enterprises, and designated

financial market utilities.

13. Includes the liability for earnings remittances due to the U.S. Treasury.
H.4.1

6. Statement of Condition of Each Federal Reserve Bank, February 10, 2016

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 2,006 51 81 135 144 311 201 292 32 59 157 205 337

Securities, unamortized premiums and

discounts, repurchase agreements,

and loans 4,407,622 111,731 2,645,942 109,625 105,969 239,393 248,202 163,768 45,965 26,810 57,257 141,984 510,977

Securities held outright1 4,236,672 107,398 2,543,325 105,373 101,860 230,109 238,576 157,411 44,182 25,766 55,037 136,477 491,160

U.S. Treasury securities 2,461,174 62,390 1,477,473 61,213 59,172 133,675 138,594 91,444 25,666 14,968 31,972 79,282 285,325

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

Notes and bonds3 2,461,174 62,390 1,477,473 61,213 59,172 133,675 138,594 91,444 25,666 14,968 31,972 79,282 285,325

Federal agency debt securities2 31,318 794 18,801 779 753 1,701 1,764 1,164 327 190 407 1,009 3,631

Mortgage-backed securities4 1,744,180 44,214 1,047,052 43,381 41,934 94,733 98,218 64,804 18,189 10,607 22,658 56,186 202,204

Unamortized premiums on securities 

held outright5 187,319 4,748 112,450 4,659 4,504 10,174 10,548 6,960 1,953 1,139 2,433 6,034 21,716

Unamortized discounts on securities 

held outright5 -16,380 -415 -9,833 -407 -394 -890 -922 -609 -171 -100 -213 -528 -1,899

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

Loans 11 0 0 0 0 0 0 6 0 5 0 0 0

Net portfolio holdings of Maiden

Lane LLC7 1,722 0 1,722 0 0 0 0 0 0 0 0 0 0

Items in process of collection 172 0 0 0 0 0 171 0 0 1 0 0 0

Bank premises 2,231 124 435 75 105 211 206 203 118 91 240 226 198

Central bank liquidity swaps8 91 4 29 5 7 21 5 2 1 0 1 1 13

Foreign currency denominated

assets9 20,458 927 6,596 1,143 1,595 4,694 1,164 549 191 86 215 295 3,004

Other assets10 35,741 949 20,916 898 875 2,129 2,038 1,343 471 243 514 1,210 4,154

Interdistrict settlement account 0 - 27,023 - 127,536 + 13,258 + 16,169 + 9,913 + 8,988 + 695 + 14,022 + 5,616 + 4,364 + 16,046 + 65,488

Total assets 4,486,278 87,306 2,553,711 125,688 125,607 257,867 263,229 168,010 61,249 33,167 63,190 161,140 586,115

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, February 10, 2016 (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 1,551,887 49,482 496,693 49,429 82,388 106,022 221,109 102,706 51,371 27,255 40,450 126,762 198,221

Less: Notes held by F.R. Banks 177,960 6,212 58,596 6,511 9,624 12,111 22,156 11,196 4,765 2,877 5,264 14,106 24,542

Federal Reserve notes, net 1,373,926 43,270 438,096 42,918 72,764 93,911 198,953 91,510 46,606 24,378 35,186 112,656 173,679

Reverse repurchase agreements11 282,372 7,158 169,511 7,023 6,789 15,337 15,901 10,491 2,945 1,717 3,668 9,096 32,735

Deposits 2,783,045 34,914 1,929,419 73,334 42,794 139,144 45,639 64,639 11,154 6,420 23,801 38,610 373,176

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 2,483,140 34,910 1,637,876 73,332 42,791 138,935 45,630 56,526 11,146 6,420 23,800 38,608 373,166

U.S. Treasury, General Account 276,161 0 276,161 0 0 0 0 0 0 0 0 0 0

Foreign official 5,237 2 5,210 2 3 9 2 1 0 0 0 1 6

Other12 18,507 2 10,172 0 0 200 7 8,112 8 0 1 2 5

Deferred availability cash items 458 0 0 0 0 0 113 0 0 345 0 0 0

Earnings remittances due to the U.S.

Treasury13 2,088 71 1,152 61 73 192 138 80 10 11 29 85 187

Other liabilities and accrued

dividends 4,877 147 2,499 178 177 473 291 231 127 126 111 192 326

Total liabilities 4,446,766 85,560 2,540,677 123,514 122,597 249,056 261,034 166,951 60,842 32,998 62,795 160,639 580,103

Capital

Capital paid in 29,512 1,304 9,735 1,624 2,248 6,581 1,639 791 304 126 295 374 4,491

Surplus 10,000 442 3,299 550 762 2,230 555 268 103 43 100 127 1,521

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

Total liabilities and capital 4,486,278 87,306 2,553,711 125,688 125,607 257,867 263,229 168,010 61,249 33,167 63,190 161,140 586,115

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, February 10, 2016 (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. 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.

9. Revalued daily at current foreign currency exchange rates.

10. Includes accrued interest, which represents the daily accumulation of interest earned, and other accounts receivable.

11. Cash value of agreements, which are collateralized by U.S. Treasury securities, federal agency debt securities, and mortgage-backed securities.

12. Includes deposits held at the Reserve Banks by international and multilateral organizations, government-sponsored enterprises, and designated financial market utilities.

13. Represents the estimated weekly remittances due to U.S. Treasury. The amounts on this line represent the residual net earnings that the Federal Reserve Banks remit to the U.S. Treasury after

providing for the costs of operations, payment of dividends, and the amount necessary to maintain a $10 billion surplus.

Note on consolidation:

On June 26, 2008, the Federal Reserve Bank of New York (FRBNY) extended a loan to Maiden Lane LLC (ML) under the authority of section 13(3) of the Federal Reserve Act. ML was formed to acquire certain

assets of Bear Stearns. On June 14, 2012, the remaining outstanding balance of the senior loan from FRBNY to ML was repaid in full, with interest. On November 15, 2012, the remaining outstanding balance of

the subordinated loan from JPMorgan Chase & Co. to ML was repaid in full, with interest. FRBNY was the primary beneficiary of ML because it received any residual returns and could have absorbed any

residual losses should they have occurred. Consistent with generally accepted accounting principles, the assets and liabilities of ML were consolidated with the assets and liabilities of FRBNY in the preparation

of the statements of condition shown on this release. As a consequence of the consolidation, the extension of credit from FRBNY to ML was eliminated, the net assets of ML appeared as assets on the previous

page (and in table 1 and table 5), and the liabilities of ML to entities other than FRBNY, including those with recourse only to the ML portfolio holdings, 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 Feb 10, 2016

Federal Reserve notes outstanding 1,551,887

Less: Notes held by F.R. Banks not subject to collateralization 177,960

Federal Reserve notes to be collateralized 1,373,926

Collateral held against Federal Reserve notes 1,373,926

Gold certificate account 11,037

Special drawing rights certificate account 5,200

U.S. Treasury, agency debt, and mortgage-backed securities pledged1,2 1,357,690

Other assets pledged 0

Memo:

Total U.S. Treasury, agency debt, and mortgage-backed securities1,2 4,236,672

Less: Face value of securities under reverse repurchase agreements 264,655

U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 3,972,017

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.