FEDERAL RESERVE statistical release

H.4.1

Factors Affecting Reserve Balances of Depository Institutions and

Condition Statement of Federal Reserve Banks January 14, 2016

1. Factors Affecting Reserve Balances of Depository Institutions

Millions of dollars

Averages of daily figures

Change from week ended

Reserve Bank credit, related items, and

reserve balances of depository institutions at

Federal Reserve Banks

Week ended

Jan 13, 2016 Jan 6, 2016 Jan 14, 2015

Wednesday

Jan 13, 2016

Reserve Bank credit 4,450,930 + 3,729 - 11,342 4,463,319

Securities held outright1 4,243,758 + 1,815 + 4,979 4,254,996

U.S. Treasury securities 2,461,471 - 64 + 335 2,461,450

Bills2 0 0 0 0

Notes and bonds, nominal2 2,346,639 0 - 73 2,346,639

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

Inflation compensation3 16,298 - 65 + 343 16,278

Federal agency debt securities2 32,944 0 - 5,733 32,944

Mortgage-backed securities4 1,749,343 + 1,879 + 10,376 1,760,602

Unamortized premiums on securities held outright5 189,030 - 343 - 17,319 189,290

Unamortized discounts on securities held outright5 -16,525 + 36 + 1,819 -16,514

Repurchase agreements6 0 0 0 0

Loans 22 - 82 - 9 29

Primary credit 4 - 61 - 18 15

Secondary credit 0 0 0 0

Seasonal credit 18 - 21 + 9 13

Other credit extensions 0 0 0 0

Net portfolio holdings of Maiden Lane LLC7 1,717 0 + 39 1,718

Float -135 - 42 + 298 -285

Central bank liquidity swaps8 118 - 879 + 118 118

Other Federal Reserve assets9 32,944 + 3,224 - 1,268 33,967

Foreign currency denominated assets10 19,811 + 172 - 963 19,785

Gold stock 11,041 0 0 11,041

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

Treasury currency outstanding11 47,595 + 14 + 1,212 47,595

Total factors supplying reserve funds 4,534,577 + 3,916 - 11,094 4,546,940

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

Jan 13, 2016 Jan 6, 2016 Jan 14, 2015

Wednesday

Jan 13, 2016

Currency in circulation11 1,417,132 - 7,184 + 84,307 1,415,620

Reverse repurchase agreements12 317,159 - 255,054 + 99,722 301,103

Foreign official and international accounts 219,337 - 10,842 + 115,288 216,687

Others 97,822 - 244,212 - 15,566 84,416

Treasury cash holdings 279 + 11 + 75 281

Deposits with F.R. Banks, other than reserve balances 331,140 - 35,247 + 153,790 331,736

Term deposits held by depository institutions 0 0 0 0

U.S. Treasury, General Account 302,983 - 30,237 + 144,715 302,240

Foreign official 5,244 + 12 + 29 5,231

Other13 22,913 - 5,022 + 9,047 24,266

Other liabilities and capital14 46,968 + 1,145 - 16,984 47,374

Total factors, other than reserve balances,

absorbing reserve funds 2,112,678 - 296,329 + 320,911 2,096,113

Reserve balances with Federal Reserve Banks 2,421,899 + 300,245 - 332,004 2,450,827

Note: Components may not sum to totals because of rounding.

1. Includes securities lent to dealers under the overnight securities lending facility; refer to table 1A.

2. Face value of the securities.

3. Compensation that adjusts for the effect of inflation on the original face value of inflation-indexed securities.

4. Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. The current face value shown is the remaining principal balance of

the securities.

5. Reflects the premium or discount, which is the difference between the purchase price and the face value of the securities that has not been

amortized. For U.S. Treasury and Federal agency debt securities, amortization is on a straight-line basis. For mortgage-backed securities,

amortization is on an effective-interest basis.

6. Cash value of agreements.

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

8. Dollar value of foreign currency held under these agreements valued at the exchange rate to be used when the foreign currency is returned

to the foreign central bank. This exchange rate equals the market exchange rate used when the foreign currency was acquired from the

foreign central bank.

9. Includes accrued interest, which represents the daily accumulation of interest earned, and other accounts receivable. Also, includes Reserve

Bank premises and equipment net of allowances for depreciation.

10. Revalued daily at current foreign currency exchange rates.

11. Estimated.

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

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

financial market utilities.

14. Includes the liability for earnings remittances due to the U.S. Treasury.

Sources: Federal Reserve Banks and the U.S. Department of the Treasury.
H.4.1

1A. Memorandum Items

Millions of dollars

Averages of daily figures

Memorandum item Week ended Change from week ended

Jan 13, 2016 Jan 6, 2016 Jan 14, 2015

Wednesday

Jan 13, 2016

Securities held in custody for foreign official and international

accounts 3,277,059 - 34,727 - 23,054 3,272,685

Marketable U.S. Treasury securities1 2,961,950 - 34,521 - 5,360 2,957,509

Federal agency debt and mortgage-backed securities2 268,561 - 136 - 22,786 268,556

Other securities3 46,547 - 70 + 5,092 46,620

Securities lent to dealers 12,969 - 3,959 + 2,740 13,222

Overnight facility4 12,969 - 3,959 + 2,740 13,222

U.S. Treasury securities 12,852 - 3,940 + 3,156 13,114

Federal agency debt securities 116 - 19 - 417 108

Note: Components may not sum to totals because of rounding.

1. Includes securities and U.S. Treasury STRIPS at face value, and inflation compensation on TIPS. Does not include securities pledged as collateral

to foreign official and international account holders against reverse repurchase agreements with the Federal Reserve presented in tables 1, 5, and 6.

2. Face value of federal agency securities and current face value of mortgage-backed securities, which is the remaining principal balance of the

securities.

3. Includes non-marketable U.S. Treasury securities, supranationals, corporate bonds, asset-backed securities, and commercial paper at face value.

4. Face value. Fully collateralized by U.S. Treasury securities.

2. Maturity Distribution of Securities, Loans, and Selected Other Assets and Liabilities, January 13, 2016

Millions of dollars

Remaining Maturity Within 15

days

16 days to

90 days

91 days to

1 year

Over 1 year

to 5 years

Over 5 year

to 10 years

Over 10

years

All

Loans 15 13 0 0 0 ... 29

U.S. Treasury securities1

Holdings 0 62,206 153,905 1,118,334 489,211 637,795 2,461,450

Weekly changes 0 0 - 2 - 8 - 8 - 36 - 55

Federal agency debt securities2

Holdings 1,626 2,061 13,077 13,833 0 2,347 32,944

Weekly changes 0 0 0 0 0 0 0

Mortgage-backed securities3

Holdings 0 0 0 613 9,130 1,750,859 1,760,602

Weekly changes 0 0 0 0 0 + 13,135 + 13,135

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

Central bank liquidity swaps5 118 0 0 0 0 0 118

Reverse repurchase agreements4 301,103 0 ... ... ... ... 301,103

Term deposits 0 0 0 ... ... ... 0

Note: Components may not sum to totals because of rounding.

...Not applicable.

1. Face value. For inflation-indexed securities, includes the original face value and compensation that adjusts for the effect of inflation on the

original face value of such securities.

2. Face value.

3. Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. The current face value shown is the remaining principal balance of the securities.

4. Cash value of agreements.

5. Dollar value of foreign currency held under these agreements valued at the exchange rate to be used when the foreign currency is returned to

the foreign central bank. This exchange rate equals the market exchange rate used when the foreign currency was acquired from the foreign

central bank.
H.4.1

3. Supplemental Information on Mortgage-Backed Securities

Millions of dollars

Wednesday Account name Jan 13, 2016

Mortgage-backed securities held outright1 1,760,602

Commitments to buy mortgage-backed securities2 19,748

Commitments to sell mortgage-backed securities2 400

Cash and cash equivalents3 4

1. Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. The current face value shown is the remaining principal balance of the securities.

2. Current face value. Generally settle within 180 days and include commitments associated with outright transactions, dollar rolls, and coupon swaps.

3. This amount is included in other Federal Reserve assets in table 1 and in other assets in table 5 and table 6.

4. Information on Principal Accounts of Maiden Lane LLC

Millions of dollars

Wednesday Account name Jan 13, 2016

Net portfolio holdings of Maiden Lane LLC1 1,718

Outstanding principal amount of loan extended by the Federal Reserve Bank of New York2 0

Accrued interest payable to the Federal Reserve Bank of New York2 0

Outstanding principal amount and accrued interest on loan payable to JPMorgan Chase & Co.3 0

1. Fair value. Fair value reflects an estimate of the price that would be received upon selling an asset if the transaction were to be conducted in an

orderly market on the measurement date. Revalued quarterly. This table reflects valuations as of September 30, 2015. Any assets purchased after

this valuation date are initially recorded at cost until their estimated fair value as of the purchase date becomes available.

2. Book value. This amount was eliminated when preparing the Federal Reserve Bank of New York’s statement of condition consistent with

consolidation under generally accepted accounting principles. Refer to the note on consolidation accompanying table 6.

3. Book value. The fair value of these obligations is included in other liabilities and capital in table 1 and in other liabilities and accrued dividends in

table 5 and table 6.

Note: On June 26, 2008, the Federal Reserve Bank of New York (FRBNY) extended credit to Maiden Lane LLC under the authority of section 13(3) of

the Federal Reserve Act. This limited liability company was formed to acquire certain assets of Bear Stearns and to manage those assets through time

to maximize repayment of the credit extended and to minimize disruption to financial markets. The remaining outstanding balances of the senior loan

from FRBNY to Maiden Lane LLC, and the subordinated loan from JPMorgan Chase & Co. to Maiden Lane LLC were repaid in full, with interest.
H.4.1

5. Consolidated Statement of Condition of All Federal Reserve Banks

Millions of dollars

Change since

Assets, liabilities, and capital Wednesday Wednesday Eliminations from

consolidation

Wednesday

Jan 13, 2016 Jan 6, 2016 Jan 14, 2015

Assets

Gold certificate account 11,037 0 0

Special drawing rights certificate account 5,200 0 0

Coin 1,922 + 29 + 14

Securities, unamortized premiums and discounts,

repurchase agreements, and loans 4,427,801 + 13,107 - 12,139

Securities held outright1 4,254,996 + 13,080 + 3,501

U.S. Treasury securities 2,461,450 - 55 + 366

Bills2 0 0 0

Notes and bonds, nominal2 2,346,639 0 - 73

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

Inflation compensation3 16,278 - 55 + 374

Federal agency debt securities2 32,944 0 - 5,733

Mortgage-backed securities4 1,760,602 + 13,135 + 8,868

Unamortized premiums on securities held outright5 189,290 + 120 - 17,457

Unamortized discounts on securities held outright5 -16,514 + 30 + 1,818

Repurchase agreements6 0 0 0

Loans 29 - 122 - 2

Net portfolio holdings of Maiden Lane LLC7 1,718 + 1 + 38

Items in process of collection (0) 147 - 34 - 14

Bank premises 2,236 + 1 - 24

Central bank liquidity swaps8 118 - 879 + 118

Foreign currency denominated assets9 19,785 + 118 - 1,086

Other assets10 31,731 + 2,747 - 1,289

Total assets (0) 4,501,695 + 15,089 - 14,382

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

5. Consolidated Statement of Condition of All Federal Reserve Banks (continued)

Millions of dollars

Change since

Assets, liabilities, and capital Wednesday Wednesday Eliminations from

consolidation

Wednesday

Jan 13, 2016 Jan 6, 2016 Jan 14, 2015

Liabilities

Federal Reserve notes, net of F.R. Bank holdings 1,370,224 - 6,277 + 83,644

Reverse repurchase agreements11 301,103 - 43,862 + 97,384

Deposits (0) 2,782,563 + 63,419 - 177,157

Term deposits held by depository institutions 0 0 0

Other deposits held by depository institutions 2,450,827 + 97,326 - 309,557

U.S. Treasury, General Account 302,240 - 35,497 + 142,510

Foreign official 5,231 - 10 - 3

Other12 (0) 24,266 + 1,601 - 10,105

Deferred availability cash items (0) 432 + 88 - 164

Other liabilities and accrued dividends13 7,869 + 1,722 - 445

Total liabilities (0) 4,462,191 + 15,090 + 3,262

Capital accounts

Capital paid in 29,504 - 1 + 930

Surplus 10,000 0 - 18,574

Other capital accounts 0 0 0

Total capital 39,504 - 1 - 17,644

Note: Components may not sum to totals because of rounding.

1. Includes securities lent to dealers under the overnight securities lending facility; refer to table 1A.

2. Face value of the securities.

3. Compensation that adjusts for the effect of inflation on the original face value of inflation-indexed securities.

4. Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. The current face value shown is the remaining principal balance of the securities.

5. Reflects the premium or discount, which is the difference between the purchase price and the face value of the securities that has not been

amortized. For U.S. Treasury and Federal agency debt securities, amortization is on a straight-line basis. For mortgage-backed securities,

amortization is on an effective-interest basis.

6. Cash value of agreements, which are collateralized by U.S. Treasury and federal agency securities.

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

8. Dollar value of foreign currency held under these agreements valued at the exchange rate to be used when the foreign currency is returned to

the foreign central bank. This exchange rate equals the market exchange rate used when the foreign currency was acquired from the foreign

central bank.

9. Revalued daily at current foreign currency exchange rates.

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

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

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

financial market utilities.

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

6. Statement of Condition of Each Federal Reserve Bank, January 13, 2016

Millions of dollars

Kansas San Assets, liabilities, and capital Total Boston New York Philadelphia Cleveland Richmond Atlanta Chicago St. Louis Minneapolis City Dallas Francisco

Assets

Gold certificate account 11,037 347 3,709 340 505 783 1,600 734 299 171 288 891 1,370

Special drawing rights certificate acct. 5,200 196 1,818 210 237 412 654 424 150 90 153 282 574

Coin 1,922 45 77 132 135 306 189 286 31 53 152 200 316

Securities, unamortized premiums and

discounts, repurchase agreements,

and loans 4,427,801 112,242 2,658,045 110,126 106,454 240,488 249,352 164,514 46,179 26,933 57,521 142,633 513,314

Securities held outright1 4,254,996 107,862 2,554,325 105,829 102,300 231,104 239,608 158,092 44,373 25,877 55,275 137,067 493,284

U.S. Treasury securities 2,461,450 62,397 1,477,638 61,220 59,179 133,690 138,609 91,454 25,669 14,970 31,976 79,291 285,357

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

Notes and bonds3 2,461,450 62,397 1,477,638 61,220 59,179 133,690 138,609 91,454 25,669 14,970 31,976 79,291 285,357

Federal agency debt securities2 32,944 835 19,777 819 792 1,789 1,855 1,224 344 200 428 1,061 3,819

Mortgage-backed securities4 1,760,602 44,630 1,056,910 43,789 42,329 95,625 99,143 65,414 18,360 10,707 22,871 56,715 204,107

Unamortized premiums on securities 

held outright5 189,290 4,798 113,633 4,708 4,551 10,281 10,659 7,033 1,974 1,151 2,459 6,098 21,944

Unamortized discounts on securities 

held outright5 -16,514 -419 -9,913 -411 -397 -897 -930 -614 -172 -100 -215 -532 -1,914

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

Loans 29 0 0 0 0 0 15 3 4 5 2 0 0

Net portfolio holdings of Maiden

Lane LLC7 1,718 0 1,718 0 0 0 0 0 0 0 0 0 0

Items in process of collection 147 0 0 0 0 0 147 0 0 0 0 0 0

Bank premises 2,236 125 436 75 106 211 207 204 118 92 240 226 197

Central bank liquidity swaps8 118 5 38 7 9 27 7 3 1 0 1 2 17

Foreign currency denominated

assets9 19,785 897 6,379 1,105 1,542 4,539 1,126 531 184 83 208 285 2,905

Other assets10 31,731 840 18,541 797 775 1,912 1,810 1,197 407 223 457 1,075 3,696

Interdistrict settlement account 0 - 28,628 - 79,587 + 6,029 + 17,170 + 15,541 - 1,816 + 4,541 + 10,175 + 5,528 + 1,982 + 13,203 + 35,862

Total assets 4,501,695 86,069 2,611,173 118,821 126,933 264,220 253,275 172,434 57,544 33,173 61,003 158,798 558,252

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

6. Statement of Condition of Each Federal Reserve Bank, January 13, 2016 (continued)

Millions of dollars

Kansas San Assets, liabilities, and capital Total Boston New York Philadelphia Cleveland Richmond Atlanta Chicago St. Louis Minneapolis City Dallas Francisco

Liabilities

Federal Reserve notes outstanding 1,548,299 49,727 498,135 49,459 82,734 106,545 217,831 102,870 51,612 26,824 40,698 125,401 196,463

Less: Notes held by F.R. Banks 178,075 5,703 62,887 5,828 9,264 11,780 21,613 10,667 4,752 2,686 4,718 13,820 24,357

Federal Reserve notes, net 1,370,224 44,024 435,248 43,631 73,470 94,765 196,219 92,203 46,860 24,138 35,980 111,581 172,106

Reverse repurchase agreements11 301,103 7,633 180,756 7,489 7,239 16,354 16,956 11,187 3,140 1,831 3,911 9,700 34,907

Deposits 2,782,563 32,437 1,977,928 65,270 42,932 143,585 37,240 67,623 6,994 6,630 20,560 36,728 344,636

Term deposits held by depository

institutions 0 0 0 0 0 0 0 0 0 0 0 0 0

Other deposits held by depository

institutions 2,450,827 32,433 1,653,924 65,268 42,929 143,474 37,231 60,043 6,986 6,630 20,559 36,725 344,626

U.S. Treasury, General Account 302,240 0 302,240 0 0 0 0 0 0 0 0 0 0

Foreign official 5,231 2 5,204 2 3 9 2 1 0 0 0 1 6

Other12 24,266 2 16,561 0 0 101 7 7,578 7 0 1 3 5

Deferred availability cash items 432 0 0 0 0 0 175 0 0 256 0 0 0

Earnings remittances due to the U.S.

Treasury13 2,147 57 1,262 54 57 132 125 85 23 11 26 69 245

Other liabilities and accrued

dividends 5,722 161 3,021 195 207 511 352 277 132 137 125 203 401

Total liabilities 4,462,191 84,312 2,598,215 116,639 123,906 255,346 251,067 171,375 57,148 33,004 60,603 158,281 552,294

Capital

Capital paid in 29,504 1,304 9,735 1,624 2,248 6,579 1,639 791 303 126 295 373 4,489

Surplus 10,000 453 3,223 559 780 2,295 569 269 93 42 105 144 1,469

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

Total liabilities and capital 4,501,695 86,069 2,611,173 118,821 126,933 264,220 253,275 172,434 57,544 33,173 61,003 158,798 558,252

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

6. Statement of Condition of Each Federal Reserve Bank, January 13, 2016 (continued)

1. Includes securities lent to dealers under the overnight securities lending facility; refer to table 1A.

2. Face value of the securities.

3. Includes the original face value of inflation-indexed securities and compensation that adjusts for the effect of inflation on the original face value of such securities.

4. Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. The current face value shown is the remaining principal balance of the securities.

5. Reflects the premium or discount, which is the difference between the purchase price and the face value of the securities that has not been amortized. For U.S. Treasury and Federal

agency debt securities, amortization is on a straight-line basis. For mortgage-backed securities, amortization is on an effective-interest basis.

6. Cash value of agreements, which are collateralized by U.S. Treasury and federal agency securities.

7. Refer to table 4 and the note on consolidation below.

8. Dollar value of foreign currency held under these agreements valued at the exchange rate to be used when the foreign currency is returned to the foreign central bank. This exchange rate

equals the market exchange rate used when the foreign currency was acquired from the foreign central bank.

9. Revalued daily at current foreign currency exchange rates.

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

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

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

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

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

Note on consolidation:

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

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

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

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

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

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

and table 5).
H.4.1

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

Millions of dollars

Wednesday Federal Reserve notes and collateral Jan 13, 2016

Federal Reserve notes outstanding 1,548,299

Less: Notes held by F.R. Banks not subject to collateralization 178,075

Federal Reserve notes to be collateralized 1,370,224

Collateral held against Federal Reserve notes 1,370,224

Gold certificate account 11,037

Special drawing rights certificate account 5,200

U.S. Treasury, agency debt, and mortgage-backed securities pledged1,2 1,353,987

Other assets pledged 0

Memo:

Total U.S. Treasury, agency debt, and mortgage-backed securities1,2 4,254,996

Less: Face value of securities under reverse repurchase agreements 282,367

U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 3,972,629

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.