FEDERAL RESERVE statistical release

H.4.1

Factors Affecting Reserve Balances of Depository Institutions and

Condition Statement of Federal Reserve Banks March 3, 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

Mar 2, 2016 Feb 24, 2016 Mar 4, 2015

Wednesday

Mar 2, 2016

Reserve Bank credit 4,439,208 - 8,474 - 9,492 4,439,725

Securities held outright1 4,244,303 - 6,635 + 7,121 4,244,299

U.S. Treasury securities 2,461,158 + 106 + 1,076 2,461,152

Bills2 0 0 0 0

Notes and bonds, nominal2 2,345,859 - 812 - 852 2,344,518

Notes and bonds, inflation-indexed2 99,540 + 1,006 + 1,071 100,880

Inflation compensation3 15,760 - 88 + 858 15,753

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

Mortgage-backed securities4 1,751,827 - 6,740 + 11,604 1,751,829

Unamortized premiums on securities held outright5 186,877 - 456 - 17,533 186,743

Unamortized discounts on securities held outright5 -16,370 - 25 + 1,734 -16,437

Repurchase agreements6 0 0 0 0

Loans 34 + 17 + 15 11

Primary credit 24 + 18 + 9 1

Secondary credit 0 0 0 0

Seasonal credit 10 - 1 + 6 10

Other credit extensions 0 0 0 0

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

Float -716 - 534 - 286 -259

Central bank liquidity swaps8 88 - 1 + 88 88

Other Federal Reserve assets9 23,270 - 841 - 667 23,559

Foreign currency denominated assets10 20,169 - 241 + 152 20,143

Gold stock 11,041 0 0 11,041

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

Treasury currency outstanding11 47,726 + 14 + 1,158 47,726

Total factors supplying reserve funds 4,523,344 - 8,702 - 8,182 4,523,835

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

Mar 2, 2016 Feb 24, 2016 Mar 4, 2015

Wednesday

Mar 2, 2016

Currency in circulation11 1,430,826 + 1,637 + 78,460 1,433,524

Reverse repurchase agreements12 302,036 - 1,466 - 12,323 291,425

Foreign official and international accounts 246,035 + 979 + 113,071 246,879

Others 56,001 - 2,445 - 125,394 44,546

Treasury cash holdings 240 - 4 + 24 240

Deposits with F.R. Banks, other than reserve balances 262,341 - 68,644 - 15,592 256,428

Term deposits held by depository institutions 0 - 63,907 - 216,067 0

U.S. Treasury, General Account 237,207 - 743 + 187,404 229,388

Foreign official 5,239 + 1 + 17 5,240

Other13 19,895 - 3,995 + 13,055 21,800

Other liabilities and capital14 46,393 - 288 - 18,163 45,636

Total factors, other than reserve balances,

absorbing reserve funds 2,041,836 - 68,765 + 32,406 2,027,253

Reserve balances with Federal Reserve Banks 2,481,508 + 60,063 - 40,587 2,496,582

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

Mar 2, 2016 Feb 24, 2016 Mar 4, 2015

Wednesday

Mar 2, 2016

Securities held in custody for foreign official and international

accounts 3,251,037 - 3,214 - 4,536 3,248,807

Marketable U.S. Treasury securities1 2,935,868 - 5,180 + 7,878 2,933,751

Federal agency debt and mortgage-backed securities2 266,505 + 1,769 - 17,776 266,358

Other securities3 48,664 + 196 + 5,362 48,698

Securities lent to dealers 15,710 + 2,418 + 3,169 15,492

Overnight facility4 15,710 + 2,418 + 3,169 15,492

U.S. Treasury securities 15,649 + 2,435 + 3,570 15,417

Federal agency debt securities 61 - 18 - 401 75

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, March 2, 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 1 10 0 0 0 ... 11

U.S. Treasury securities1

Holdings 0 90,621 117,582 1,152,276 468,542 632,131 2,461,152

Weekly changes - 31,839 + 25,248 - 12,076 + 10,320 + 5,980 + 2,307 - 59

Federal agency debt securities2

Holdings 2,061 4,161 11,767 10,982 0 2,347 31,318

Weekly changes + 2,061 - 2,061 0 0 0 0 0

Mortgage-backed securities3

Holdings 0 0 0 778 8,985 1,742,066 1,751,829

Weekly changes 0 0 0 + 62 - 241 - 8,909 - 9,089

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

Central bank liquidity swaps5 88 0 0 0 0 0 88

Reverse repurchase agreements4 291,425 0 ... ... ... ... 291,425

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 Mar 2, 2016

Mortgage-backed securities held outright1 1,751,829

Commitments to buy mortgage-backed securities2 24,225

Commitments to sell mortgage-backed securities2 0

Cash and cash equivalents3 13

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 Mar 2, 2016

Net portfolio holdings of Maiden Lane LLC1 1,722

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

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

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

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

orderly market on the measurement date. Revalued quarterly. This table reflects valuations as of December 31, 2015. Any assets purchased after

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

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

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

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

table 5 and table 6.

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

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

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

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

5. Consolidated Statement of Condition of All Federal Reserve Banks

Millions of dollars

Change since

Assets, liabilities, and capital Wednesday Wednesday Eliminations from

consolidation

Wednesday

Mar 2, 2016 Feb 24, 2016 Mar 4, 2015

Assets

Gold certificate account 11,037 0 0

Special drawing rights certificate account 5,200 0 0

Coin 1,938 - 32 + 68

Securities, unamortized premiums and discounts,

repurchase agreements, and loans 4,414,615 - 9,906 - 8,693

Securities held outright1 4,244,299 - 9,148 + 7,169

U.S. Treasury securities 2,461,152 - 59 + 1,124

Bills2 0 0 0

Notes and bonds, nominal2 2,344,518 - 2,347 - 2,193

Notes and bonds, inflation-indexed2 100,880 + 2,346 + 2,411

Inflation compensation3 15,753 - 60 + 904

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

Mortgage-backed securities4 1,751,829 - 9,089 + 11,604

Unamortized premiums on securities held outright5 186,743 - 644 - 17,508

Unamortized discounts on securities held outright5 -16,437 - 104 + 1,654

Repurchase agreements6 0 0 0

Loans 11 - 8 - 7

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

Items in process of collection (0) 184 + 43 - 26

Bank premises 2,225 - 4 - 22

Central bank liquidity swaps8 88 - 1 + 88

Foreign currency denominated assets9 20,143 - 293 + 267

Other assets10 21,335 - 1,116 - 812

Total assets (0) 4,478,485 - 11,311 - 9,098

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

Mar 2, 2016 Feb 24, 2016 Mar 4, 2015

Liabilities

Federal Reserve notes, net of F.R. Bank holdings 1,387,972 + 2,889 + 77,549

Reverse repurchase agreements11 291,425 + 4,749 + 14,257

Deposits (0) 2,753,010 - 18,501 - 82,081

Term deposits held by depository institutions 0 - 63,907 - 216,067

Other deposits held by depository institutions 2,496,582 + 70,535 - 58,087

U.S. Treasury, General Account 229,388 + 12,526 + 176,942

Foreign official 5,240 + 2 + 28

Other12 (0) 21,800 - 37,657 + 15,103

Deferred availability cash items (0) 443 - 229 - 223

Other liabilities and accrued dividends13 6,110 - 211 - 557

Total liabilities (0) 4,438,960 - 11,303 + 8,946

Capital accounts

Capital paid in 29,526 - 6 + 741

Surplus 10,000 0 - 18,785

Other capital accounts 0 0 0

Total capital 39,526 - 6 - 18,043

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, March 2, 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 1,938 50 85 134 137 305 185 283 26 57 154 192 329

Securities, unamortized premiums and

discounts, repurchase agreements,

and loans 4,414,615 111,909 2,650,140 109,799 106,138 239,773 248,596 164,027 46,038 26,852 57,348 142,209 511,787

Securities held outright1 4,244,299 107,591 2,547,904 105,563 102,043 230,523 239,005 157,695 44,262 25,812 55,136 136,723 492,044

U.S. Treasury securities 2,461,152 62,389 1,477,459 61,213 59,172 133,674 138,593 91,443 25,666 14,968 31,972 79,282 285,323

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

Notes and bonds3 2,461,152 62,389 1,477,459 61,213 59,172 133,674 138,593 91,443 25,666 14,968 31,972 79,282 285,323

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

Mortgage-backed securities4 1,751,829 44,408 1,051,644 43,571 42,118 95,148 98,649 65,088 18,269 10,654 22,757 56,432 203,090

Unamortized premiums on securities 

held outright5 186,743 4,734 112,104 4,645 4,490 10,143 10,516 6,938 1,947 1,136 2,426 6,016 21,649

Unamortized discounts on securities 

held outright5 -16,437 -417 -9,867 -409 -395 -893 -926 -611 -171 -100 -214 -529 -1,906

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

Loans 11 1 0 0 0 0 0 5 0 5 0 0 0

Net portfolio holdings of Maiden

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

Items in process of collection 184 0 0 0 0 0 183 0 0 0 0 0 0

Bank premises 2,225 123 433 74 105 210 207 203 117 91 240 225 197

Central bank liquidity swaps8 88 4 28 5 7 20 5 2 1 0 1 1 13

Foreign currency denominated

assets9 20,143 909 6,549 1,121 1,564 4,603 1,141 539 187 84 211 289 2,945

Other assets10 21,335 572 12,202 534 521 1,336 1,218 807 470 155 320 712 2,487

Interdistrict settlement account 0 - 23,137 - 169,272 + 16,386 + 17,653 + 23,109 + 12,712 + 2,238 + 13,795 + 6,562 + 5,080 + 26,464 + 68,411

Total assets 4,478,485 90,973 2,507,412 128,603 126,866 270,552 266,500 169,258 61,081 34,064 63,795 171,266 588,114

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, March 2, 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 1,556,643 49,456 497,340 49,381 81,996 105,525 222,744 102,404 51,149 27,124 40,230 129,041 200,257

Less: Notes held by F.R. Banks 168,671 5,845 58,855 6,142 8,644 11,195 21,271 10,270 4,308 2,597 4,802 12,323 22,418

Federal Reserve notes, net 1,387,972 43,610 438,485 43,238 73,351 94,329 201,472 92,134 46,841 24,527 35,428 116,718 177,838

Reverse repurchase agreements11 291,425 7,387 174,946 7,248 7,007 15,828 16,411 10,828 3,039 1,772 3,786 9,388 33,785

Deposits 2,753,010 38,055 1,877,757 75,733 43,303 151,088 45,926 64,934 10,638 7,122 24,057 44,414 369,982

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 2,496,582 38,049 1,628,775 75,731 43,300 150,908 45,916 57,712 10,630 7,122 24,056 44,413 369,972

U.S. Treasury, General Account 229,388 0 229,388 0 0 0 0 0 0 0 0 0 0

Foreign official 5,240 2 5,213 2 3 9 2 1 0 0 0 1 6

Other12 21,800 5 14,381 0 0 171 8 7,221 8 0 1 1 5

Deferred availability cash items 443 0 0 0 0 0 106 0 0 337 0 0 0

Earnings remittances due to the U.S.

Treasury13 1,559 32 1,042 21 16 7 103 67 25 12 20 61 155

Other liabilities and accrued

dividends 4,551 142 2,152 181 180 494 290 228 126 125 109 183 342

Total liabilities 4,438,960 89,226 2,494,382 126,421 123,856 261,746 264,307 168,191 60,668 33,895 63,400 170,764 582,103

Capital

Capital paid in 29,526 1,305 9,731 1,631 2,248 6,575 1,638 799 311 127 296 376 4,490

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

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

Total liabilities and capital 4,478,485 90,973 2,507,412 128,603 126,866 270,552 266,500 169,258 61,081 34,064 63,795 171,266 588,114

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, March 2, 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 Mar 2, 2016

Federal Reserve notes outstanding 1,556,643

Less: Notes held by F.R. Banks not subject to collateralization 168,671

Federal Reserve notes to be collateralized 1,387,972

Collateral held against Federal Reserve notes 1,387,972

Gold certificate account 11,037

Special drawing rights certificate account 5,200

U.S. Treasury, agency debt, and mortgage-backed securities pledged1,2 1,371,735

Other assets pledged 0

Memo:

Total U.S. Treasury, agency debt, and mortgage-backed securities1,2 4,244,299

Less: Face value of securities under reverse repurchase agreements 271,963

U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 3,972,336

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.