FEDERAL RESERVE statistical release

H.4.1

Factors Affecting Reserve Balances of Depository Institutions and     
Condition Statement of Federal Reserve Banks                                                   April 11, 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  Apr 10, 2019 
Federal Reserve Banks                                     Apr 10, 2019  Apr 3, 2019 Apr 11, 2018              

Reserve Bank credit                                         3,896,903   -   11,969   -  445,274    3,897,923  
  Securities held outright (1)                              3,748,490   -   12,631   -  423,294    3,748,702  
    U.S. Treasury securities                                2,153,394   -   12,658   -  259,631    2,153,443  
      Bills (2)                                                     0            0            0            0  
      Notes and bonds, nominal (2)                          2,016,632   -   12,788   -  265,253    2,016,632  
      Notes and bonds, inflation-indexed (2)                  115,154            0   +    4,020      115,154  
      Inflation compensation (3)                               21,608   +      130   +    1,603       21,658  
    Federal agency debt securities (2)                          2,347            0   -    2,044        2,347  
    Mortgage-backed securities (4)                          1,592,750   +       27   -  161,618    1,592,912  
  Unamortized premiums on securities held outright (5)        135,345   -      209   -   18,792      135,283  
  Unamortized discounts on securities held outright (5)       -13,076   +       28   +      944      -13,065  
  Repurchase agreements (6)                                         0            0            0            0  
  Loans                                                            13   -       45   -       17           21  
    Primary credit                                                  4   -       47   +        3           10  
    Secondary credit                                                0            0            0            0  
    Seasonal credit                                                 9   +        2   -       20           11  
    Other credit extensions                                         0            0            0            0  
  Net portfolio holdings of Maiden Lane LLC (7)                     0            0   -    1,708            0  
  Float                                                          -179   +      400   +       16         -187  
  Central bank liquidity swaps (8)                                 55   -    1,310   -       24           55  
  Other Federal Reserve assets (9)                             26,254   +    1,798   -    2,399       27,114  
Foreign currency denominated assets (10)                       20,605   -       38   -    1,524       20,675  
Gold stock                                                     11,041            0            0       11,041  
Special drawing rights certificate account                      5,200            0            0        5,200  
Treasury currency outstanding (11)                             49,900   +       14   +      376       49,900  
                                                                                                              
Total factors supplying reserve funds                       3,983,649   -   11,993   -  446,423    3,984,738  

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  Apr 10, 2019 
Federal Reserve Banks                                     Apr 10, 2019  Apr 3, 2019 Apr 11, 2018              

Currency in circulation (11)                                 1,726,720   +    1,954   +   86,776    1,728,355 
Reverse repurchase agreements (12)                             253,674   +    3,367   +    5,693      256,374 
  Foreign official and international accounts                  253,090   +    3,176   +    9,360      253,643 
  Others                                                           584   +      191   -    3,666        2,731 
Treasury cash holdings                                             336            0   +       17          331 
Deposits with F.R. Banks, other than reserve balances          322,992   -   52,462   -   53,242      307,584 
  Term deposits held by depository institutions                      0            0            0            0 
  U.S. Treasury, General Account                               262,617   -   47,571   -   31,466      245,664 
  Foreign official                                               5,243            0   -       11        5,244 
  Other (13)                                                    55,132   -    4,892   -   21,765       56,676 
Other liabilities and capital (14)                              45,336   +      956   -      294       45,533 
                                                                                                              
Total factors, other than reserve balances,               
    absorbing reserve funds                                  2,349,058   -   46,186   +   38,951    2,338,178 
                                                                                                              
Reserve balances with Federal Reserve Banks                  1,634,591   +   34,193   -  485,374    1,646,560 

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  Apr 10, 2019 
                                                          Apr 10, 2019  Apr 3, 2019 Apr 11, 2018              

Securities held in custody for foreign official and       
     international accounts                                  3,471,239   +   11,464   +   21,022    3,474,882 
  Marketable U.S. Treasury securities (1)                    3,073,672   +   11,486   -   23,095    3,069,936 
  Federal agency debt and mortgage-backed securities (2)       326,823   +    1,104   +   52,902      333,713 
  Other securities (3)                                          70,743   -    1,127   -    8,786       71,233 
Securities lent to dealers                                      26,552   -    2,399   +    6,078       23,870 
  Overnight facility (4)                                        26,552   -    2,399   +    6,078       23,870 
    U.S. Treasury securities                                    26,552   -    2,399   +    6,078       23,870 
    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, April 10, 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                                           10            11             0             0             0           ...            21 
U.S. Treasury securities (1)                                                                                                           
  Holdings                                     180       111,741       265,651       908,927       249,207       617,738     2,153,443 
  Weekly changes                                 0             0    +        1    +       19    +       50    +       65    +      135 
Federal agency debt securities (2)                                                                                                     
  Holdings                                       0             0             0             0             0         2,347         2,347 
  Weekly changes                                 0             0             0             0             0             0             0 
Mortgage-backed securities (3)                                                                                                         
  Holdings                                       0             0            10           262        74,011     1,518,628     1,592,912 
  Weekly changes                                 0             0             0             0    +    1,364    -    1,176    +      189 
Repurchase agreements (4)                        0             0           ...           ...           ...           ...             0 
Central bank liquidity swaps (5)                55             0             0             0             0             0            55 
                                                                                                                                       
Reverse repurchase agreements (4)          256,374             0           ...           ...           ...           ...       256,374 
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   
                                                                                                                      Apr 10, 2019  

Mortgage-backed securities held outright (1)                                                                             1,592,912  
                                                                                                                                    
Commitments to buy mortgage-backed securities (2)                                                                              229  
Commitments to sell mortgage-backed securities (2)                                                                              10  
                                                                                                                                    
Cash and cash equivalents (3)                                                                                                    0  



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       Apr 10, 2019   Wednesday    Wednesday  
                                                        consolidation                 Apr 3, 2019 Apr 11, 2018 

Assets                                                                                                         
  Gold certificate account                                                   11,037            0            0  
  Special drawing rights certificate account                                  5,200            0            0  
  Coin                                                                        1,708   -       11   -      115  
  Securities, unamortized premiums and discounts,     
     repurchase agreements, and loans                                     3,870,941   +      177   -  440,951  
    Securities held outright (1)                                          3,748,702   +      324   -  423,118  
      U.S. Treasury securities                                            2,153,443   +      135   -  259,617  
        Bills (2)                                                                 0            0            0  
        Notes and bonds, nominal (2)                                      2,016,632            0   -  265,253  
        Notes and bonds, inflation-indexed (2)                              115,154            0   +    4,034  
        Inflation compensation (3)                                           21,658   +      135   +    1,603  
      Federal agency debt securities (2)                                      2,347            0   -    2,044  
      Mortgage-backed securities (4)                                      1,592,912   +      189   -  161,457  
    Unamortized premiums on securities held outright  
    (5)                                                                     135,283   -      185   -   18,768  
    Unamortized discounts on securities held outright 
    (5)                                                                     -13,065   +       28   +      944  
    Repurchase agreements (6)                                                     0            0            0  
    Loans                                                                        21   +       10   -        9  
  Net portfolio holdings of Maiden Lane LLC (7)                                   0            0   -    1,709  
  Items in process of collection                                   (0)           55   +        9   -       23  
  Bank premises                                                               2,202   +        3   +        3  
  Central bank liquidity swaps (8)                                               55   -    1,310   -       24  
  Foreign currency denominated assets (9)                                    20,675   +       69   -    1,573  
  Other assets (10)                                                          24,912   +    2,340   -    2,507  
                                                                                                               
Total assets                                                       (0)    3,936,784   +    1,275   -  446,900  

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       Apr 10, 2019   Wednesday    Wednesday  
                                                        consolidation                 Apr 3, 2019 Apr 11, 2018 

Liabilities                                                                                                    
  Federal Reserve notes, net of F.R. Bank holdings                         1,680,490   +      858   +   87,125 
  Reverse repurchase agreements (11)                                         256,374   +    7,009   +   11,170 
  Deposits                                                          (0)    1,954,145   -    7,710   -  544,865 
    Term deposits held by depository institutions                                  0            0            0 
    Other deposits held by depository institutions                         1,646,560   +   15,573   -  482,284 
    U.S. Treasury, General Account                                           245,664   -   24,806   -   42,140 
    Foreign official                                                           5,244   +        1   -        9 
    Other (12)                                                      (0)       56,676   +    1,521   -   20,434 
  Deferred availability cash items                                  (0)          242   -      295   -       15 
  Other liabilities and accrued dividends (13)                                 6,191   +    1,409   -      415 
                                                                                                               
Total liabilities                                                   (0)    3,897,442   +    1,272   -  447,000 
                                                                                                               
Capital accounts                                                                                               
  Capital paid in                                                             32,517   +        3   +      775 
  Surplus                                                                      6,825            0   -      675 
  Other capital accounts                                                           0            0            0 
                                                                                                               
Total capital                                                                 39,342   +        3   +      100 

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, April 10, 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         364       3,626          350         544         773       1,491         739         334         199         307         905       1,405
  Special drawing rights certificate acct.         5,200         196       1,818          210         237         412         654         424         150          90         153         282         574
  Coin                                             1,708          46          44          151         113         222         173         289          29          48         112         192         289
  Securities, unamortized premiums and      
     discounts, repurchase agreements,      
     and loans                                 3,870,941      73,930   2,137,048       97,733     109,742     229,066     232,361     207,327      51,535      32,307      60,942     160,062     478,887
    Securities held outright (1)               3,748,702      71,596   2,069,574       94,647     106,277     221,834     225,022     200,772      49,908      31,283      59,013     155,008     463,767
      U.S. Treasury securities                 2,153,443      41,128   1,188,868       54,370      61,051     127,432     129,264     115,334      28,669      17,970      33,900      89,044     266,411
        Bills (2)                                      0           0           0            0           0           0           0           0           0           0           0           0           0
        Notes and bonds (3)                    2,153,443      41,128   1,188,868       54,370      61,051     127,432     129,264     115,334      28,669      17,970      33,900      89,044     266,411
      Federal agency debt securities (2)           2,347          45       1,296           59          67         139         141         126          31          20          37          97         290
      Mortgage-backed securities (4)           1,592,912      30,423     879,411       40,218      45,160      94,262      95,617      85,313      21,207      13,293      25,076      65,867     197,066
    Unamortized premiums on securities held 
      outright (5)                               135,283       2,584      74,687        3,416       3,835       8,006       8,121       7,245       1,801       1,129       2,130       5,594      16,736
    Unamortized discounts on securities     
      held outright (5)                          -13,065        -250      -7,213         -330        -370        -773        -784        -700        -174        -109        -206        -540      -1,616
    Repurchase agreements (6)                          0           0           0            0           0           0           0           0           0           0           0           0           0
    Loans                                             21           0           0            0           0           0           2           9           0           4           5           0           0
  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                      55           0           0            0           0           0          54           0           0           1           0           0           0
  Bank premises                                    2,202         108         458           81         118         193         208         192         105          95         230         222         192
  Central bank liquidity swaps (8)                    55           2          17            3           4          12           3           2           1           0           1           1           8
  Foreign currency denominated                                                                                                                                                                           
     assets (9)                                   20,675         890       6,562        1,194       1,650       4,408       1,202         863         315          98         200         256       3,035
  Other assets (10)                               24,912         501      13,283          627         719       1,701       1,498       1,308         404         279         458       1,079       3,055
  Interdistrict settlement account                     0  +   10,455  -  211,743   +    2,272  +   15,535  +   13,222  +   54,255  +    5,464  +   12,372  +    5,136  +    3,112  +   31,738  +   58,182
                                                                                                                                                                                                         
Total assets                                   3,936,784      86,494   1,951,114      102,621     128,662     250,009     291,900     216,608      65,244      38,253      65,516     194,737     545,627

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, April 10, 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            1,871,313      57,456     620,026      54,303      89,491     126,289     259,681     120,741      55,585      31,238      49,480     156,036     250,987
    Less: Notes held by F.R. Banks               190,823       6,013      49,387       7,432       9,411      14,158      31,155      12,712       5,235       3,041       6,662      17,795      27,821
      Federal Reserve notes, net               1,680,490      51,443     570,639      46,870      80,080     112,131     228,526     108,029      50,350      28,197      42,819     138,241     223,166
  Reverse repurchase agreements (11)             256,374       4,896     141,538       6,473       7,268      15,171      15,389      13,731       3,413       2,139       4,036      10,601      31,717
  Deposits                                     1,954,145      28,258   1,223,719      46,777      37,933     113,711      45,246      92,833      10,710       7,386      18,103      45,118     284,351
    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                           1,646,560      28,247     955,618      46,774      37,906     113,293      45,211      54,054      10,702       7,334      18,087      44,990     284,345
    U.S. Treasury, General Account               245,664           0     245,664           0           0           0           0           0           0           0           0           0           0
    Foreign official                               5,244           2       5,217           2           3           9           2           2           1           0           0           0           6
    Other (12)                                    56,676          10      17,220           1          23         410          33      38,778           7          52          16         127           1
  Deferred availability cash items                   242           0           0           0           0           0          62           0           0         180           0           0           0
  Earnings remittances due to the U.S.      
     Treasury (13)                                 1,307          25         747          29          42          68          99          64          16          11          20          59         127
  Other liabilities and accrued             
     dividends                                     4,884         183       1,983         209         206         546         300         312         139         150         146         232         477
                                                                                                                                                                                                        
Total liabilities                              3,897,442      84,806   1,938,626     100,358     125,529     241,628     289,623     214,969      64,628      38,063      65,124     194,250     539,838
                                                                                                                                                                                                        
Capital                                                                                                                                                                                                 
  Capital paid in                                 32,517       1,394      10,323       1,869       2,587       6,926       1,880       1,354         512         157         326         403       4,787
  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                  3,936,784      86,494   1,951,114     102,621     128,662     250,009     291,900     216,608      65,244      38,253      65,516     194,737     545,627

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, April 10, 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   
                                                                                          Apr 10, 2019  

Federal Reserve notes outstanding                                                            1,871,313  
  Less: Notes held by F.R. Banks not subject to collateralization                              190,823  
    Federal Reserve notes to be collateralized                                               1,680,490  
Collateral held against Federal Reserve notes                                                1,680,490  
  Gold certificate account                                                                      11,037  
  Special drawing rights certificate account                                                     5,200  
  U.S. Treasury, agency debt, and mortgage-backed securities pledged (1,2)                   1,664,253  
  Other assets pledged                                                                               0  
Memo:                                                                                                   
Total U.S. Treasury, agency debt, and mortgage-backed securities (1,2)                       3,748,702  
  Less: Face value of securities under reverse repurchase agreements                           255,291  
    U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged        3,493,411  

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.