FEDERAL RESERVE statistical release

H.4.1

Factors Affecting Reserve Balances of Depository Institutions and

Condition Statement of Federal Reserve Banks August 29, 2019

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

Aug 28, 2019 Aug 21, 2019 Aug 29, 2018

Wednesday

Aug 28, 2019

Reserve Bank credit 3,723,811 - 3,343 - 461,853 3,720,751

Securities held outright1 3,589,547 - 3,597 - 439,999 3,587,082

U.S. Treasury securities 2,091,269 + 5,410 - 233,302 2,095,130

Bills2 3,001 0 + 2,901 3,001

Notes and bonds, nominal2 1,947,943 + 5,403 - 240,063 1,951,802

Notes and bonds, inflation-indexed2 116,545 0 + 1,953 116,545

Inflation compensation3 23,779 + 6 + 1,906 23,782

Federal agency debt securities2 2,347 0 - 62 2,347

Mortgage-backed securities4 1,495,931 - 9,007 - 206,635 1,489,605

Unamortized premiums on securities held outright5 127,989 - 487 - 18,795 127,805

Unamortized discounts on securities held outright5 -13,003 + 51 + 793 -12,923

Repurchase agreements6 0 0 0 0

Loans 140 + 8 - 153 110

Primary credit 35 + 1 + 11 5

Secondary credit 0 0 0 0

Seasonal credit 105 + 7 - 165 106

Other credit extensions 0 0 0 0

Net portfolio holdings of Maiden Lane LLC7 0 0 - 1,720 0

Float -173 - 52 + 43 -319

Central bank liquidity swaps8 69 + 26 - 23 69

Other Federal Reserve assets9 19,243 + 709 - 1,999 18,927

Foreign currency denominated assets10 20,917 + 78 - 168 20,868

Gold stock 11,041 0 0 11,041

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

Treasury currency outstanding11 50,042 + 14 + 379 50,042

Total factors supplying reserve funds 3,811,012 - 3,251 - 461,641 3,807,903

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

Aug 28, 2019 Aug 21, 2019 Aug 29, 2018

Wednesday

Aug 28, 2019

Currency in circulation11 1,751,632 + 2,385 + 75,324 1,754,962

Reverse repurchase agreements12 288,863 - 21,904 + 46,625 286,720

Foreign official and international accounts 281,544 - 17,283 + 42,115 282,465

Others 7,319 - 4,620 + 4,510 4,255

Treasury cash holdings 160 - 11 - 56 157

Deposits with F.R. Banks, other than reserve balances 226,674 + 33,022 - 197,778 216,901

Term deposits held by depository institutions 1,668 + 1,668 - 819 1,668

U.S. Treasury, General Account 145,957 + 20,232 - 196,586 150,146

Foreign official 5,256 0 0 5,257

Other13 73,793 + 11,122 - 372 59,831

Other liabilities and capital14 45,003 + 622 - 512 44,918

Total factors, other than reserve balances,

absorbing reserve funds 2,312,332 + 14,114 - 76,397 2,303,659

Reserve balances with Federal Reserve Banks 1,498,680 - 17,365 - 385,244 1,504,243

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.
H.4.1

1A. Memorandum Items

Millions of dollars

Averages of daily figures

Memorandum item Week ended Change from week ended

Aug 28, 2019 Aug 21, 2019 Aug 29, 2018

Wednesday

Aug 28, 2019

Securities held in custody for foreign official and international

accounts 3,475,359 + 4,013 + 46,303 3,466,570

Marketable U.S. Treasury securities1 3,034,269 + 831 - 25,600 3,025,316

Federal agency debt and mortgage-backed securities2 360,009 + 2,631 + 61,280 359,910

Other securities3 81,082 + 552 + 10,624 81,344

Securities lent to dealers 26,760 + 1,365 + 8,768 28,328

Overnight facility4 26,760 + 1,365 + 8,768 28,328

U.S. Treasury securities 26,760 + 1,365 + 8,768 28,328

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, August 28, 2019

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 82 29 0 0 0 ... 110

U.S. Treasury securities1

Holdings 14,674 70,603 268,484 830,985 291,712 618,672 2,095,130

Weekly changes 0 0 0 + 4,103 + 2,104 + 2 + 6,210

Federal agency debt securities2

Holdings 0 0 0 0 486 1,861 2,347

Weekly changes 0 0 0 0 0 0 0

Mortgage-backed securities3

Holdings 0 0 7 440 77,223 1,411,935 1,489,605

Weekly changes 0 0 - 1 - 12 - 1,097 - 9,954 - 11,065

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

Central bank liquidity swaps5 69 0 0 0 0 0 69

Reverse repurchase agreements4 286,720 0 ... ... ... ... 286,720

Term deposits 1,668 0 0 ... ... ... 1,668

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 Aug 28, 2019

Mortgage-backed securities held outright1 1,489,605

Commitments to buy mortgage-backed securities2 3,162

Commitments to sell mortgage-backed securities2 0

Cash and cash equivalents3 8

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.
H.4.1

4. Consolidated Statement of Condition of All Federal Reserve Banks

Millions of dollars

Change since

Assets, liabilities, and capital Wednesday Wednesday Eliminations from

consolidation

Wednesday

Aug 28, 2019 Aug 21, 2019 Aug 29, 2018

Assets

Gold certificate account 11,037 0 0

Special drawing rights certificate account 5,200 0 0

Coin 1,722 - 2 - 46

Securities, unamortized premiums and discounts,

repurchase agreements, and loans 3,702,074 - 5,239 - 454,984

Securities held outright1 3,587,082 - 4,855 - 436,922

U.S. Treasury securities 2,095,130 + 6,210 - 229,459

Bills2 3,001 0 + 2,901

Notes and bonds, nominal2 1,951,802 + 6,203 - 236,204

Notes and bonds, inflation-indexed2 116,545 0 + 1,953

Inflation compensation3 23,782 + 7 + 1,891

Federal agency debt securities2 2,347 0 - 62

Mortgage-backed securities4 1,489,605 - 11,065 - 207,401

Unamortized premiums on securities held outright5 127,805 - 438 - 18,723

Unamortized discounts on securities held outright5 -12,923 + 123 + 862

Repurchase agreements6 0 0 0

Loans 110 - 69 - 201

Net portfolio holdings of Maiden Lane LLC7 0 0 - 1,718

Items in process of collection (0) 49 - 4 - 27

Bank premises 2,191 0 + 8

Central bank liquidity swaps8 69 + 26 - 23

Foreign currency denominated assets9 20,868 + 39 - 230

Other assets10 16,736 + 259 - 1,949

Total assets (0) 3,759,946 - 4,920 - 458,968

Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table.
H.4.1

4. 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

Aug 28, 2019 Aug 21, 2019 Aug 29, 2018

Liabilities

Federal Reserve notes, net of F.R. Bank holdings 1,706,795 + 3,679 + 73,526

Reverse repurchase agreements11 286,720 - 14,498 + 54,288

Deposits (0) 1,721,145 + 4,859 - 586,612

Term deposits held by depository institutions 1,668 + 1,668 - 819

Other deposits held by depository institutions 1,504,244 - 13,576 - 376,263

U.S. Treasury, General Account 150,146 + 18,699 - 195,109

Foreign official 5,257 + 1 0

Other12 (0) 59,831 - 1,932 - 14,420

Deferred availability cash items (0) 368 + 161 - 206

Other liabilities and accrued dividends13 5,619 + 875 - 237

Total liabilities (0) 3,720,647 - 4,925 - 459,241

Capital accounts

Capital paid in 32,474 + 5 + 272

Surplus 6,825 0 0

Other capital accounts 0 0 0

Total capital 39,299 + 5 + 272

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.
H.4.1

5. Statement of Condition of Each Federal Reserve Bank, August 28, 2019

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 11,037 351 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 1,722 43 50 152 111 219 184 280 35 47 114 199 289

Securities, unamortized premiums and

discounts, repurchase agreements,

and loans 3,702,074 76,802 2,019,684 89,649 108,313 226,547 253,126 194,321 53,230 32,097 54,896 160,747 432,663

Securities held outright1 3,587,082 74,418 1,957,007 86,867 104,949 219,517 245,260 188,291 51,556 31,040 53,191 155,755 419,232

U.S. Treasury securities 2,095,130 43,466 1,143,042 50,737 61,298 128,214 143,250 109,976 30,113 18,130 31,067 90,973 244,864

Bills2 3,001 62 1,637 73 88 184 205 158 43 26 44 130 351

Notes and bonds3 2,092,129 43,404 1,141,404 50,664 61,210 128,031 143,045 109,819 30,069 18,104 31,023 90,843 244,513

Federal agency debt securities2 2,347 49 1,280 57 69 144 160 123 34 20 35 102 274

Mortgage-backed securities4 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 outright5 127,805 2,651 69,727 3,095 3,739 7,821 8,738 6,709 1,837 1,106 1,895 5,549 14,937

Unamortized discounts on securities 

held outright5 -12,923 -268 -7,051 -313 -378 -791 -884 -678 -186 -112 -192 -561 -1,510

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

Loans 110 0 1 0 3 0 11 0 23 63 2 3 4

Net portfolio holdings of Maiden

Lane LLC7 0 0 0 0 0 0 0 0 0 0 0 0 0

Items in process of collection 49 0 0 0 0 0 49 0 0 0 0 0 0

Bank premises 2,191 108 458 82 117 191 205 192 103 94 229 222 191

Central bank liquidity swaps8 69 3 22 4 5 15 4 3 1 0 1 1 10

Foreign currency denominated

assets9 20,868 899 6,623 1,206 1,666 4,449 1,213 871 318 99 202 258 3,063

Other assets10 16,736 361 8,623 399 490 1,215 1,120 847 430 190 313 831 1,918

Interdistrict settlement account 0 + 9,195 - 220,371 - 9,258 + 12,458 + 15,735 + 41,908 + 25,493 + 8,606 + 7,043 + 6,161 + 28,411 + 74,619

Total assets 3,759,946 87,957 1,820,614 82,770 123,929 249,537 300,022 223,142 63,201 39,847 62,360 191,841 514,727

Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table.
H.4.1

5. Statement of Condition of Each Federal Reserve Bank, August 28, 2019 (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 1,911,010 57,513 634,175 54,996 90,841 131,533 264,113 124,551 56,247 31,286 50,271 159,303 256,184

Less: Notes held by F.R. Banks 204,215 6,424 48,317 9,036 10,022 16,448 28,231 14,206 6,229 3,456 8,201 20,616 33,030

Federal Reserve notes, net 1,706,795 51,089 585,858 45,960 80,819 115,085 235,882 110,344 50,018 27,830 42,070 138,687 223,154

Reverse repurchase agreements11 286,720 5,948 156,426 6,943 8,389 17,546 19,604 15,050 4,121 2,481 4,252 12,450 33,510

Deposits 1,721,145 28,935 1,062,718 28,129 31,245 108,133 41,770 95,891 8,312 8,811 15,476 39,943 251,783

Term deposits held by depository

institutions 1,668 50 606 250 2 0 100 410 0 0 0 0 250

Other deposits held by depository

institutions 1,504,244 28,870 889,442 27,876 31,215 107,688 41,635 53,659 8,308 8,757 15,443 39,824 251,527

U.S. Treasury, General Account 150,146 0 150,146 0 0 0 0 0 0 0 0 0 0

Foreign official 5,257 2 5,229 2 3 9 2 2 1 0 0 0 6

Other12 59,831 13 17,294 1 25 436 33 41,820 3 54 32 118 0

Deferred availability cash items 368 0 0 0 0 0 56 0 0 312 0 0 0

Earnings remittances due to the U.S.

Treasury13 884 19 481 24 31 51 83 37 9 8 14 48 80

Other liabilities and accrued

dividends 4,735 178 1,916 186 197 551 310 315 128 148 155 225 426

Total liabilities 3,720,647 86,169 1,807,399 81,242 120,681 241,366 297,705 221,637 62,587 39,590 61,966 191,352 508,953

Capital

Capital paid in 32,474 1,494 11,049 1,133 2,703 6,716 1,920 1,220 510 225 328 404 4,772

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 3,759,946 87,957 1,820,614 82,770 123,929 249,537 300,022 223,142 63,201 39,847 62,360 191,841 514,727

Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table.
H.4.1

5. Statement of Condition of Each Federal Reserve Bank, August 28, 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).
H.4.1

6. Collateral Held against Federal Reserve Notes: Federal Reserve Agents’ Accounts

Millions of dollars

Wednesday Federal Reserve notes and collateral Aug 28, 2019

Federal Reserve notes outstanding 1,911,010

Less: Notes held by F.R. Banks not subject to collateralization 204,215

Federal Reserve notes to be collateralized 1,706,795

Collateral held against Federal Reserve notes 1,706,795

Gold certificate account 11,037

Special drawing rights certificate account 5,200

U.S. Treasury, agency debt, and mortgage-backed securities pledged1,2 1,690,558

Other assets pledged 0

Memo:

Total U.S. Treasury, agency debt, and mortgage-backed securities1,2 3,587,082

Less: Face value of securities under reverse repurchase agreements 267,676

U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 3,319,406

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.