FEDERAL RESERVE statistical release

H.4.1

Factors Affecting Reserve Balances of Depository Institutions and

Condition Statement of Federal Reserve Banks January 30, 2020

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 29, 2020 Jan 22, 2020 Jan 30, 2019

Wednesday

Jan 29, 2020

Reserve Bank credit 4,115,208 + 906 + 114,389 4,112,398

Securities held outright1 3,793,484 + 15,123 - 51,796 3,798,743

U.S. Treasury securities 2,397,355 + 24,302 + 177,305 2,409,108

Bills2 222,890 + 19,288 + 222,890 232,534

Notes and bonds, nominal2 2,021,005 + 5,031 - 62,581 2,023,121

Notes and bonds, inflation-indexed2 128,005 0 + 13,236 128,005

Inflation compensation3 25,455 - 17 + 3,761 25,448

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

Mortgage-backed securities4 1,393,781 - 9,180 - 229,041 1,387,288

Unamortized premiums on securities held outright5 123,730 - 472 - 14,931 123,527

Unamortized discounts on securities held outright5 -13,294 - 40 + 7 -13,306

Repurchase agreements6 182,311 - 14,306 + 182,311 175,125

Loans 6 0 - 18 34

Primary credit 6 0 - 12 34

Secondary credit 0 0 0 0

Seasonal credit 0 0 - 6 0

Other credit extensions 0 0 0 0

Net portfolio holdings of Maiden Lane LLC7 0 0 0 0

Float -185 - 69 + 116 -675

Central bank liquidity swaps8 51 - 3 - 25 51

Other Federal Reserve assets9 29,104 + 673 - 1,276 28,899

Foreign currency denominated assets10 20,512 - 15 - 426 20,499

Gold stock 11,041 0 0 11,041

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

Treasury currency outstanding11 50,162 + 14 + 372 50,162

Total factors supplying reserve funds 4,202,123 + 904 + 114,334 4,199,300

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 29, 2020 Jan 22, 2020 Jan 30, 2019

Wednesday

Jan 29, 2020

Currency in circulation11 1,792,238 - 2,503 + 89,610 1,792,779

Reverse repurchase agreements12 235,623 - 26,946 - 11,948 233,404

Foreign official and international accounts 233,736 - 15,421 - 10,449 233,104

Others 1,887 - 11,525 - 1,499 300

Treasury cash holdings 208 + 17 - 43 218

Deposits with F.R. Banks, other than reserve balances 513,106 + 35,253 + 37,967 516,541

Term deposits held by depository institutions 0 0 0 0

U.S. Treasury, General Account 432,061 + 28,120 + 28,785 450,537

Foreign official 5,180 - 1 - 64 5,181

Other13 75,864 + 7,133 + 9,245 60,823

Other liabilities and capital14 44,606 + 431 - 55 44,136

Total factors, other than reserve balances,

absorbing reserve funds 2,585,781 + 6,252 + 115,531 2,587,077

Reserve balances with Federal Reserve Banks 1,616,342 - 5,347 - 1,197 1,612,223

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

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

2. Face value of the securities.

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

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

the securities.

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

amortized. For U.S. Treasury securities, Federal agency debt securities, and mortgage-backed securities, amortization is on an effective-interest

basis.

6. Cash value of agreements.

7. Refer to the note on consolidation accompanying table 5.

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

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

foreign central bank.

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

Bank premises and equipment net of allowances for depreciation.

10. Revalued daily at current foreign currency exchange rates.

11. Estimated.

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

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

market utilities, and deposits held by depository institutions in joint accounts in connection with their participation in certain private-sector payment

arrangements. Also includes certain deposit accounts other than the U.S. Treasury, General Account, for services provided by the Reserve Banks

as fiscal agents of the United States.

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

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

1A. Memorandum Items

Millions of dollars

Averages of daily figures

Memorandum item Week ended Change from week ended

Jan 29, 2020 Jan 22, 2020 Jan 30, 2019

Wednesday

Jan 29, 2020

Securities held in custody for foreign official and international

accounts 3,434,373 + 21,252 + 20,317 3,423,488

Marketable U.S. Treasury securities1 2,985,484 + 15,901 - 40,174 2,975,840

Federal agency debt and mortgage-backed securities2 365,207 + 5,301 + 46,272 364,291

Other securities3 83,681 + 49 + 14,219 83,357

Securities lent to dealers 28,698 + 391 + 9,462 25,762

Overnight facility4 28,698 + 391 + 9,462 25,762

U.S. Treasury securities 28,698 + 391 + 9,462 25,762

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, January 29, 2020

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 34 0 0 0 0 ... 34

U.S. Treasury securities1

Holdings 28,266 135,202 378,533 908,219 315,598 643,290 2,409,108

Weekly changes + 4,607 + 8,573 + 9,321 + 5,600 - 7 - 7 + 28,088

Federal agency debt securities2

Holdings 0 0 0 0 1,151 1,196 2,347

Weekly changes 0 0 0 0 0 0 0

Mortgage-backed securities3

Holdings 0 0 3 1,149 70,876 1,315,260 1,387,288

Weekly changes 0 - 1 - 11 - 86 - 2,242 - 9,014 - 11,354

Repurchase agreements4 175,125 0 ... ... ... ... 175,125

Central bank liquidity swaps5 51 0 0 0 0 0 51

Reverse repurchase agreements4 233,404 0 ... ... ... ... 233,404

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 29, 2020

Mortgage-backed securities held outright1 1,387,288

Commitments to buy mortgage-backed securities2 5,386

Commitments to sell mortgage-backed securities2 0

Cash and cash equivalents3 2

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

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

3. This amount is included in other Federal Reserve assets in table 1 and in other assets in table 4 and table 5.
H.4.1

4. Consolidated Statement of Condition of All Federal Reserve Banks

Millions of dollars

Change since

Assets, liabilities, and capital Wednesday Wednesday Eliminations from

consolidation

Wednesday

Jan 29, 2020 Jan 22, 2020 Jan 30, 2019

Assets

Gold certificate account 11,037 0 0

Special drawing rights certificate account 5,200 0 0

Coin 1,767 + 23 - 34

Securities, unamortized premiums and discounts,

repurchase agreements, and loans 4,084,123 + 5,336 + 114,611

Securities held outright1 3,798,743 + 16,733 - 45,486

U.S. Treasury securities 2,409,108 + 28,088 + 189,096

Bills2 232,534 + 22,503 + 232,534

Notes and bonds, nominal2 2,023,121 + 5,603 - 60,465

Notes and bonds, inflation-indexed2 128,005 0 + 13,236

Inflation compensation3 25,448 - 19 + 3,792

Federal agency debt securities2 2,347 0 - 62

Mortgage-backed securities4 1,387,288 - 11,354 - 234,521

Unamortized premiums on securities held outright5 123,527 - 447 - 15,011

Unamortized discounts on securities held outright5 -13,306 - 34 - 17

Repurchase agreements6 175,125 - 10,951 + 175,125

Loans 34 + 34 0

Net portfolio holdings of Maiden Lane LLC7 0 0 0

Items in process of collection (0) 54 - 30 - 39

Bank premises 2,210 + 10 + 3

Central bank liquidity swaps8 51 - 3 - 26

Foreign currency denominated assets9 20,499 - 27 - 452

Other assets10 26,689 + 409 - 2,111

Total assets (0) 4,151,630 + 5,718 + 111,952

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

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

Millions of dollars

Change since

Assets, liabilities, and capital Wednesday Wednesday Eliminations from

consolidation

Wednesday

Jan 29, 2020 Jan 22, 2020 Jan 30, 2019

Liabilities

Federal Reserve notes, net of F.R. Bank holdings 1,744,597 - 1,952 + 89,020

Reverse repurchase agreements11 233,404 - 31,953 - 15,832

Deposits (0) 2,128,764 + 38,677 + 39,599

Term deposits held by depository institutions 0 0 0

Other deposits held by depository institutions 1,612,223 + 2,629 + 3,083

U.S. Treasury, General Account 450,537 + 38,829 + 39,153

Foreign official 5,181 + 1 - 61

Other12 (0) 60,823 - 2,782 - 2,576

Deferred availability cash items (0) 729 + 487 - 455

Other liabilities and accrued dividends13 5,613 + 460 + 237

Total liabilities (0) 4,113,108 + 5,718 + 112,570

Capital accounts

Capital paid in 31,697 - 1 - 618

Surplus 6,825 0 0

Other capital accounts 0 0 0

Total capital 38,522 - 1 - 618

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

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

2. Face value of the securities.

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

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

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

amortized. For U.S. Treasury securities, Federal agency debt securities, and mortgage-backed securities, amortization is on an effective-interest

basis.

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

7. Refer to the note on consolidation accompanying table 5.

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

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

central bank.

9. Revalued daily at current foreign currency exchange rates.

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

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

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

market utilities, and deposits held by depository institutions in joint accounts in connection with their participation in certain private-sector payment

arrangements. Also includes certain deposit accounts other than the U.S. Treasury, General Account, for services provided by the Reserve Banks

as fiscal agents of the United States.

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

5. Statement of Condition of Each Federal Reserve Bank, January 29, 2020

Millions of dollars

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

Assets

Gold certificate account 11,037 351 3,707 327 531 754 1,560 711 328 186 292 890 1,400

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

Coin 1,767 43 51 155 103 234 181 286 35 50 118 206 305

Securities, unamortized premiums and

discounts, repurchase agreements,

and loans 4,084,123 84,729 2,228,160 98,913 119,503 249,932 279,252 214,379 58,699 35,342 60,560 177,336 477,319

Securities held outright1 3,798,743 78,809 2,072,483 91,993 111,142 232,470 259,732 199,401 54,598 32,871 56,329 164,946 443,970

U.S. Treasury securities 2,409,108 49,980 1,314,339 58,340 70,484 147,429 164,718 126,457 34,625 20,847 35,723 104,606 281,559

Bills2 232,534 4,824 126,864 5,631 6,803 14,230 15,899 12,206 3,342 2,012 3,448 10,097 27,177

Notes and bonds3 2,176,574 45,156 1,187,475 52,709 63,681 133,199 148,819 114,251 31,283 18,834 32,275 94,509 254,382

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

Mortgage-backed securities4 1,387,288 28,781 756,864 33,595 40,589 84,897 94,853 72,821 19,939 12,005 20,571 60,238 162,136

Unamortized premiums on securities 

held outright5 123,527 2,563 67,393 2,991 3,614 7,559 8,446 6,484 1,775 1,069 1,832 5,364 14,437

Unamortized discounts on securities 

held outright5 -13,306 -276 -7,259 -322 -389 -814 -910 -698 -191 -115 -197 -578 -1,555

Repurchase agreements6 175,125 3,633 95,543 4,241 5,124 10,717 11,974 9,193 2,517 1,515 2,597 7,604 20,467

Loans 34 0 0 10 13 0 10 0 0 1 0 0 0

Net portfolio holdings of Maiden

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

Items in process of collection 54 0 0 0 0 0 53 0 0 0 0 0 0

Bank premises 2,210 106 466 92 117 191 203 194 102 93 228 223 196

Central bank liquidity swaps8 51 2 16 3 4 11 3 2 1 0 0 1 7

Foreign currency denominated

assets9 20,499 883 6,507 1,184 1,636 4,370 1,192 856 313 97 198 254 3,009

Other assets10 26,689 570 14,031 640 792 1,849 1,803 1,375 476 285 489 1,301 3,080

Interdistrict settlement account 0 + 5,630 - 32,247 - 14,819 + 1,359 - 6,327 + 16,905 + 10,274 + 6,847 + 3,856 + 5,719 + 14,983 - 12,180

Total assets 4,151,630 92,509 2,222,508 86,705 124,282 251,427 301,805 228,501 66,949 39,999 67,759 195,476 473,711

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

5. Statement of Condition of Each Federal Reserve Bank, January 29, 2020 (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 1,957,987 60,861 641,620 57,527 93,843 134,320 273,952 126,650 59,460 32,067 54,152 164,114 259,421

Less: Notes held by F.R. Banks 213,391 6,175 50,753 9,018 10,301 17,319 33,385 13,550 5,485 2,959 7,264 20,405 36,777

Federal Reserve notes, net 1,744,597 54,686 590,867 48,509 83,541 117,002 240,567 113,099 53,975 29,109 46,888 143,709 222,644

Reverse repurchase agreements11 233,404 4,842 127,339 5,652 6,829 14,284 15,959 12,252 3,355 2,020 3,461 10,135 27,279

Deposits 2,128,764 30,965 1,488,950 30,957 30,409 111,385 42,942 101,280 8,843 7,739 16,823 40,914 217,557

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 1,612,223 30,957 1,014,034 30,955 30,376 111,007 42,875 60,295 8,840 7,684 16,795 40,855 217,550

U.S. Treasury, General Account 450,537 0 450,537 0 0 0 0 0 0 0 0 0 0

Foreign official 5,181 2 5,154 2 3 9 2 2 1 0 0 0 6

Other12 60,823 7 19,224 0 30 370 65 40,984 2 54 28 59 1

Deferred availability cash items 729 0 0 0 0 0 49 0 0 680 0 0 0

Earnings remittances due to the U.S.

Treasury13 1,042 14 546 24 30 98 86 54 9 4 9 55 115

Other liabilities and accrued

dividends 4,571 172 1,860 176 182 528 292 320 136 147 172 205 381

Total liabilities 4,113,108 90,680 2,209,562 85,318 120,990 243,297 299,894 227,005 66,318 39,698 67,353 195,018 467,975

Capital

Capital paid in 31,697 1,505 10,653 1,141 2,709 6,690 1,572 1,231 520 248 334 377 4,720

Surplus 6,825 324 2,294 246 583 1,441 338 265 112 53 72 81 1,016

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

Total liabilities and capital 4,151,630 92,509 2,222,508 86,705 124,282 251,427 301,805 228,501 66,949 39,999 67,759 195,476 473,711

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

5. Statement of Condition of Each Federal Reserve Bank, January 29, 2020 (continued)

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

2. Face value of the securities.

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

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

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

agency debt securities, and mortgage-backed securities, amortization is on an effective-interest basis.

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

7. Refer to the note on consolidation below.

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

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

9. Revalued daily at current foreign currency exchange rates.

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

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

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

depository institutions in joint accounts in connection with their participation in certain private-sector payment arrangements. Also includes certain deposit accounts other than the U.S. Treasury,

General Account, for services provided by the Reserve Banks as fiscal agents of the United States.

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

providing for the costs of operations, payment of dividends, and the amount necessary to maintain a $6.825 billion surplus.

Note on consolidation:

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

assets of Bear Stearns and to manage those assets through time to maximize repayment of the credit extended and minimize disruption to financial markets. On June 14, 2012, the remaining outstanding

balance of the senior loan from FRBNY to ML was repaid in full, with interest. On November 15, 2012, the remaining outstanding balance of the subordinated loan from JPMorgan Chase & Co. to ML was repaid

in full, with interest. FRBNY was the primary beneficiary of ML because it received any residual returns and could have absorbed any residual losses should they have occurred. Consistent with generally

accepted accounting principles, the assets and liabilities of ML were consolidated with the assets and liabilities of FRBNY in the preparation of the statements of condition shown on this release. As a

consequence of the consolidation, the extension of credit from FRBNY to ML was eliminated, the net assets of ML appeared as assets on the previous page (and in table 1 and table 4), and the liabilities of ML

to entities other than FRBNY, including those with recourse only to the ML portfolio holdings, were included in other liabilities in this table (and table 1 and table 4).
H.4.1

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

Millions of dollars

Wednesday Federal Reserve notes and collateral Jan 29, 2020

Federal Reserve notes outstanding 1,957,987

Less: Notes held by F.R. Banks not subject to collateralization 213,391

Federal Reserve notes to be collateralized 1,744,597

Collateral held against Federal Reserve notes 1,744,597

Gold certificate account 11,037

Special drawing rights certificate account 5,200

U.S. Treasury, agency debt, and mortgage-backed securities pledged1,2 1,728,360

Other assets pledged 0

Memo:

Total U.S. Treasury, agency debt, and mortgage-backed securities1,2 3,973,868

Less: Face value of securities under reverse repurchase agreements 229,718

U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 3,744,150

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.