FEDERAL RESERVE statistical release

H.4.1

Factors Affecting Reserve Balances of Depository Institutions and     
Condition Statement of Federal Reserve Banks                                               September 12, 2019


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  Sep 11, 2019 
Federal Reserve Banks                                     Sep 11, 2019  Sep 4, 2019 Sep 12, 2018              

Reserve Bank credit                                         3,726,610   +    4,648   -  443,946    3,730,920  
  Securities held outright (1)                              3,590,108   +    3,016   -  422,512    3,593,121  
    U.S. Treasury securities                                2,098,156   +    3,016   -  215,047    2,101,169  
      Bills (2)                                                 3,001            0   +    2,901        3,001  
      Notes and bonds, nominal (2)                          1,954,203   +    2,401   -  221,399    1,955,803  
      Notes and bonds, inflation-indexed (2)                  117,002   +      457   +    1,423      118,146  
      Inflation compensation (3)                               23,950   +      158   +    2,028       24,219  
    Federal agency debt securities (2)                          2,347            0   -       62        2,347  
    Mortgage-backed securities (4)                          1,489,605            0   -  207,403    1,489,605  
  Unamortized premiums on securities held outright (5)        127,939   +      252   -   18,181      128,311  
  Unamortized discounts on securities held outright (5)       -12,818   +      108   +      940      -12,739  
  Repurchase agreements (6)                                         0            0            0            0  
  Loans                                                            88   -        9   -      183           83  
    Primary credit                                                  1            0   -       41            2  
    Secondary credit                                                0            0            0            0  
    Seasonal credit                                                87   -       10   -      142           81  
    Other credit extensions                                         0            0            0            0  
  Net portfolio holdings of Maiden Lane LLC (7)                     0            0   -    1,719            0  
  Float                                                          -169   +      353   -        6         -141  
  Central bank liquidity swaps (8)                                 40   -      832   -       51           40  
  Other Federal Reserve assets (9)                             21,422   +    1,761   -    2,234       22,246  
Foreign currency denominated assets (10)                       20,715   -       83   -      312       20,623  
Gold stock                                                     11,041            0            0       11,041  
Special drawing rights certificate account                      5,200            0            0        5,200  
Treasury currency outstanding (11)                             50,039   +       14   +      366       50,039  
                                                                                                              
Total factors supplying reserve funds                       3,813,605   +    4,579   -  443,892    3,817,823  

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  Sep 11, 2019 
Federal Reserve Banks                                     Sep 11, 2019  Sep 4, 2019 Sep 12, 2018              

Currency in circulation (11)                                 1,766,301   +    5,592   +   79,408    1,765,344 
Reverse repurchase agreements (12)                             291,974   -    9,727   +   61,582      294,250 
  Foreign official and international accounts                  290,014   -    4,310   +   60,113      290,638 
  Others                                                         1,960   -    5,417   +    1,470        3,612 
Treasury cash holdings                                             163   +        5   -       45          164 
Deposits with F.R. Banks, other than reserve balances          253,102   +   38,344   -  120,725      254,318 
  Term deposits held by depository institutions                      0            0            0            0 
  U.S. Treasury, General Account                               185,342   +   36,602   -  118,312      183,581 
  Foreign official                                               5,256   -       14            0        5,256 
  Other (13)                                                    62,504   +    1,755   -    2,413       65,481 
Other liabilities and capital (14)                              45,269   +    1,124   +       68       45,081 
                                                                                                              
Total factors, other than reserve balances,               
    absorbing reserve funds                                  2,356,809   +   35,338   +   20,288    2,359,157 
                                                                                                              
Reserve balances with Federal Reserve Banks                  1,456,796   -   30,759   -  464,180    1,458,666 

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 securities, Federal agency debt
    securities, and mortgage-backed securities, amortization is on an effective-interest basis.         
6.  Cash value of agreements.                                                                               
7.  Refer to the note on consolidation accompanying table 5.                                                
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, designated financial market utilities, and deposits held by depository
    institutions in joint accounts in connection with their participation in certain private-sector payment
    arrangements. Also includes certain deposit accounts other than the U.S. Treasury, General Account, 
    for services provided by the Reserve Banks as fiscal agents of the United States.                   
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.





1A. Memorandum Items
Millions of dollars
Memorandum item                                                  Averages of daily figures         Wednesday  
                                                           Week ended    Change from week ended  Sep 11, 2019 
                                                          Sep 11, 2019  Sep 4, 2019 Sep 12, 2018              

Securities held in custody for foreign official and       
     international accounts                                  3,453,061   +    2,050   +   31,255    3,462,033 
  Marketable U.S. Treasury securities (1)                    3,011,694   +    1,312   -   42,266    3,020,587 
  Federal agency debt and mortgage-backed securities (2)       359,935   +       10   +   61,405      359,930 
  Other securities (3)                                          81,432   +      728   +   12,117       81,516 
Securities lent to dealers                                      33,884   +    5,733   +   16,513       32,771 
  Overnight facility (4)                                        33,884   +    5,733   +   16,513       32,771 
    U.S. Treasury securities                                    33,884   +    5,733   +   16,513       32,771 
    Federal agency debt securities                                   0            0            0            0 

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, 4, and 5.     
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, September 11, 2019  

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                                           29            54             0             0             0           ...            83 
U.S. Treasury securities (1)                                                                                                           
  Holdings                                      50        78,951       265,487       837,872       297,554       621,254     2,101,169 
  Weekly changes                                 0             0    +        3    +      885    +    2,548    +    2,569    +    6,005 
Federal agency debt securities (2)                                                                                                     
  Holdings                                       0             0             0             0           486         1,861         2,347 
  Weekly changes                                 0             0             0             0             0             0             0 
Mortgage-backed securities (3)                                                                                                         
  Holdings                                       0             0             9           614        77,602     1,411,381     1,489,605 
  Weekly changes                                 0             0             0             0             0             0             0 
Repurchase agreements (4)                        0             0           ...           ...           ...           ...             0 
Central bank liquidity swaps (5)                40             0             0             0             0             0            40 
                                                                                                                                       
Reverse repurchase agreements (4)          294,250             0           ...           ...           ...           ...       294,250 
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   
                                                                                                                      Sep 11, 2019  

Mortgage-backed securities held outright (1)                                                                             1,489,605  
                                                                                                                                    
Commitments to buy mortgage-backed securities (2)                                                                            5,603  
Commitments to sell mortgage-backed securities (2)                                                                               0  
                                                                                                                                    
Cash and cash equivalents (3)                                                                                                    5  



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 4       
    and table 5.                                                                                        







4. Consolidated Statement of Condition of All Federal Reserve Banks
Millions of dollars
Assets, liabilities, and capital                         Eliminations     Wednesday         Change since       
                                                             from       Sep 11, 2019   Wednesday    Wednesday  
                                                        consolidation                 Sep 4, 2019 Sep 12, 2018 

Assets                                                                                                         
  Gold certificate account                                                   11,037            0            0  
  Special drawing rights certificate account                                  5,200            0            0  
  Coin                                                                        1,706   +        4   -       53  
  Securities, unamortized premiums and discounts,     
     repurchase agreements, and loans                                     3,708,775   +    6,939   -  436,477  
    Securities held outright (1)                                          3,593,121   +    6,005   -  419,508  
      U.S. Treasury securities                                            2,101,169   +    6,005   -  212,035  
        Bills (2)                                                             3,001            0   +    2,901  
        Notes and bonds, nominal (2)                                      1,955,803   +    4,001   -  219,799  
        Notes and bonds, inflation-indexed (2)                              118,146   +    1,601   +    2,567  
        Inflation compensation (3)                                           24,219   +      403   +    2,296  
      Federal agency debt securities (2)                                      2,347            0   -       62  
      Mortgage-backed securities (4)                                      1,489,605            0   -  207,411  
    Unamortized premiums on securities held outright  
    (5)                                                                     128,311   +      727   -   17,742  
    Unamortized discounts on securities held outright 
    (5)                                                                     -12,739   +      218   +    1,008  
    Repurchase agreements (6)                                                     0            0            0  
    Loans                                                                        83   -       10   -      234  
  Net portfolio holdings of Maiden Lane LLC (7)                                   0            0   -    1,720  
  Items in process of collection                                   (0)           45   -       42   -       98  
  Bank premises                                                               2,184            0   +        4  
  Central bank liquidity swaps (8)                                               40   -      832   -       51  
  Foreign currency denominated assets (9)                                    20,623   -      144   -      431  
  Other assets (10)                                                          20,062   +    2,239   -    2,314  
                                                                                                               
Total assets                                                       (0)    3,769,673   +    8,165   -  441,139  

Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table.





4. Consolidated Statement of Condition of All Federal Reserve Banks (continued)
Millions of dollars
Assets, liabilities, and capital                         Eliminations     Wednesday         Change since       
                                                             from       Sep 11, 2019   Wednesday    Wednesday  
                                                        consolidation                 Sep 4, 2019 Sep 12, 2018 

Liabilities                                                                                                    
  Federal Reserve notes, net of F.R. Bank holdings                         1,717,172   -      409   +   77,996 
  Reverse repurchase agreements (11)                                         294,250   -    8,376   +   64,704 
  Deposits                                                          (0)    1,712,985   +   16,531   -  583,688 
    Term deposits held by depository institutions                                  0            0            0 
    Other deposits held by depository institutions                         1,458,667   +    4,213   -  465,342 
    U.S. Treasury, General Account                                           183,581   +    8,802   -  114,116 
    Foreign official                                                           5,256   +        1            0 
    Other (12)                                                      (0)       65,481   +    3,515   -    4,230 
  Deferred availability cash items                                  (0)          187   -      413   -      175 
  Other liabilities and accrued dividends (13)                                 5,825   +      828   -      243 
                                                                                                               
Total liabilities                                                   (0)    3,730,417   +    8,159   -  441,408 
                                                                                                               
Capital accounts                                                                                               
  Capital paid in                                                             32,431   +        6   +      270 
  Surplus                                                                      6,825            0            0 
  Other capital accounts                                                           0            0            0 
                                                                                                               
Total capital                                                                 39,256   +        6   +      270 

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 securities, Federal agency debt
    securities, and 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 the note on consolidation accompanying table 5.                                                
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, designated financial market utilities, and deposits held by depository
    institutions in joint accounts in connection with their participation in certain private-sector payment
    arrangements. Also includes certain deposit accounts other than the U.S. Treasury, General Account, 
    for services provided by the Reserve Banks as fiscal agents of the United States.                   
13. Includes the liability for earnings remittances due to the U.S. Treasury.                               

 



5. Statement of Condition of Each Federal Reserve Bank, September 11, 2019
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         351       3,707          327         531         754       1,560         711         328         186         292         890       1,400
  Special drawing rights certificate acct.         5,200         196       1,818          210         237         412         654         424         150          90         153         282         574
  Coin                                             1,706          44          52          151         109         215         176         280          35          46         112         197         289
  Securities, unamortized premiums and      
     discounts, repurchase agreements,      
     and loans                                 3,708,775      76,941   2,023,354       89,812     108,507     226,960     253,578     194,676      53,325      32,139      54,994     161,039     433,449
    Securities held outright (1)               3,593,121      74,543   1,960,302       87,013     105,126     219,886     245,673     188,608      51,643      31,092      53,280     156,018     419,938
      U.S. Treasury securities                 2,101,169      43,591   1,146,336       50,883      61,475     128,584     143,663     110,293      30,199      18,182      31,157      91,235     245,569
        Bills (2)                                  3,001          62       1,637           73          88         184         205         158          43          26          44         130         351
        Notes and bonds (3)                    2,098,168      43,529   1,144,699       50,810      61,387     128,400     143,458     110,136      30,156      18,156      31,112      91,105     245,219
      Federal agency debt securities (2)           2,347          49       1,280           57          69         144         160         123          34          20          35         102         274
      Mortgage-backed securities (4)           1,489,605      30,904     812,685       36,073      43,582      91,159     101,849      78,191      21,410      12,890      22,088      64,680     174,094
    Unamortized premiums on securities held 
      outright (5)                               128,311       2,662      70,003        3,107       3,754       7,852       8,773       6,735       1,844       1,110       1,903       5,571      14,996
    Unamortized discounts on securities     
      held outright (5)                          -12,739        -264      -6,950         -309        -373        -780        -871        -669        -183        -110        -189        -553      -1,489
    Repurchase agreements (6)                          0           0           0            0           0           0           0           0           0           0           0           0           0
    Loans                                             83           0           0            0           0           1           4           2          21          47           1           3           4
  Net portfolio holdings of Maiden                                                                                                                                                                       
     Lane LLC (7)                                      0           0           0            0           0           0           0           0           0           0           0           0           0
  Items in process of collection                      45           0           0            0           0           0          45           0           0           0           0           0           0
  Bank premises                                    2,184         106         457           81         116         191         205         191         103          94         228         222         190
  Central bank liquidity swaps (8)                    40           2          13            2           3           8           2           2           1           0           0           0           6
  Foreign currency denominated                                                                                                                                                                           
     assets (9)                                   20,623         888       6,546        1,191       1,646       4,397       1,199         861         314          98         200         255       3,027
  Other assets (10)                               20,062         430      10,453          478         591       1,435       1,349       1,019         491         234         369         909       2,305
  Interdistrict settlement account                     0  +    4,021  -  236,056   -    7,845  +   14,489  +   18,344  +   50,953  +   25,870  +   10,121  +    7,376  +    7,633  +   33,744  +   71,350
                                                                                                                                                                                                         
Total assets                                   3,769,673      82,979   1,810,344       84,407     126,230     252,716     309,722     224,034      64,868      40,265      63,981     197,538     512,590

Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table.





5. Statement of Condition of Each Federal Reserve Bank, September 11, 2019 (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            1,917,632      57,626     637,711      55,275      90,846     131,358     267,162     124,397      56,381      31,285      50,291     159,593     255,707
    Less: Notes held by F.R. Banks               200,461       6,532      48,003       9,096       9,910      15,656      26,035      14,251       6,187       3,375       8,229      20,341      32,846
      Federal Reserve notes, net               1,717,172      51,094     589,709      46,179      80,935     115,702     241,127     110,147      50,193      27,911      42,061     139,252     222,862
  Reverse repurchase agreements (11)             294,250       6,105     160,534       7,126       8,609      18,007      20,119      15,446       4,229       2,546       4,363      12,777      34,390
  Deposits                                     1,712,985      23,795   1,044,308      29,368      33,214     110,271      45,711      96,578       9,672       9,259      16,984      44,732     249,093
    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                           1,458,667      23,736     834,787      29,365      33,153     109,428      45,627      53,014       9,668       9,205      16,958      44,640     249,086
    U.S. Treasury, General Account               183,581           0     183,581           0           0           0           0           0           0           0           0           0           0
    Foreign official                               5,256           2       5,229           2           3           9           2           2           1           0           0           0           6
    Other (12)                                    65,481          58      20,711           1          58         835          82      43,563           3          53          26          91           1
  Deferred availability cash items                   187           0           0           0           0           0          51           0           0         135           0           0           0
  Earnings remittances due to the U.S.      
     Treasury (13)                                 1,089          17         664          21          26          30          91          45          16           8          24          56          90
  Other liabilities and accrued             
     dividends                                     4,736         179       1,911         184         198         533         307         314         143         149         155         232         430
                                                                                                                                                                                                        
Total liabilities                              3,730,417      81,191   1,797,125      82,879     122,982     244,544     307,406     222,529      64,254      40,008      63,587     197,049     506,864
                                                                                                                                                                                                        
Capital                                                                                                                                                                                                 
  Capital paid in                                 32,431       1,494      11,053       1,134       2,703       6,716       1,919       1,220         510         225         328         405       4,724
  Surplus                                          6,825         294       2,166         394         545       1,455         397         285         104          32          66          84       1,002
  Other capital                                        0           0           0           0           0           0           0           0           0           0           0           0           0
                                                                                                                                                                                                        
Total liabilities and capital                  3,769,673      82,979   1,810,344      84,407     126,230     252,716     309,722     224,034      64,868      40,265      63,981     197,538     512,590

Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table.





5. Statement of Condition of Each Federal Reserve Bank, September 11, 2019 (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 securities, Federal agency     
    debt securities, and 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 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, designated financial market utilities, and deposits held by              
    depository institutions in joint accounts in connection with their participation in certain private-sector payment arrangements. Also includes certain deposit accounts other than the U.S. Treasury, General
    Account, for services provided by the Reserve Banks as fiscal agents of the United States.                                                                                                          
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 $6.825 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 and to manage those assets through time to maximize repayment of the credit extended and minimize disruption to financial markets. 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 4), 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 4).
                                                                                                                                        



6. Collateral Held against Federal Reserve Notes: Federal Reserve Agents' Accounts
Millions of dollars
Federal Reserve notes and collateral                                                        Wednesday   
                                                                                          Sep 11, 2019  

Federal Reserve notes outstanding                                                            1,917,632  
  Less: Notes held by F.R. Banks not subject to collateralization                              200,461  
    Federal Reserve notes to be collateralized                                               1,717,172  
Collateral held against Federal Reserve notes                                                1,717,172  
  Gold certificate account                                                                      11,037  
  Special drawing rights certificate account                                                     5,200  
  U.S. Treasury, agency debt, and mortgage-backed securities pledged (1,2)                   1,700,935  
  Other assets pledged                                                                               0  
Memo:                                                                                                   
Total U.S. Treasury, agency debt, and mortgage-backed securities (1,2)                       3,593,121  
  Less: Face value of securities under reverse repurchase agreements                           282,477  
    U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged        3,310,644  

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.