FEDERAL RESERVE statistical release

H.4.1

Factors Affecting Reserve Balances of Depository Institutions and     
Condition Statement of Federal Reserve Banks                                                 January 31, 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  Jan 30, 2019 
Federal Reserve Banks                                     Jan 30, 2019 Jan 23, 2019 Jan 31, 2018              

Reserve Bank credit                                         4,000,819   -    9,941   -  387,183    3,999,505  
  Securities held outright (1)                              3,845,280   -    8,935   -  365,322    3,844,229  
    U.S. Treasury securities                                2,220,050   -       97   -  225,417    2,220,012  
      Bills (2)                                                     0            0            0            0  
      Notes and bonds, nominal (2)                          2,083,586            0   -  234,899    2,083,586  
      Notes and bonds, inflation-indexed (2)                  114,769            0   +    6,993      114,769  
      Inflation compensation (3)                               21,694   -       97   +    2,488       21,656  
    Federal agency debt securities (2)                          2,409            0   -    1,982        2,409  
    Mortgage-backed securities (4)                          1,622,822   -    8,837   -  137,922    1,621,809  
  Unamortized premiums on securities held outright (5)        138,661   -      527   -   18,777      138,538  
  Unamortized discounts on securities held outright (5)       -13,301   +       31   +      766      -13,289  
  Repurchase agreements (6)                                         0            0            0            0  
  Loans                                                            24   -       20   -       47           34  
    Primary credit                                                 18   -       22   -       45           27  
    Secondary credit                                                0            0            0            0  
    Seasonal credit                                                 6   +        3   -        2            7  
    Other credit extensions                                         0            0            0            0  
  Net portfolio holdings of Maiden Lane LLC (7)                     0            0   -    1,714            0  
  Float                                                          -301   -      165   +       83       -1,091  
  Central bank liquidity swaps (8)                                 76   -       10   -      597           77  
  Other Federal Reserve assets (9)                             30,380   -      316   -    1,575       31,007  
Foreign currency denominated assets (10)                       20,938   +       40   -    1,198       20,951  
Gold stock                                                     11,041            0            0       11,041  
Special drawing rights certificate account                      5,200            0            0        5,200  
Treasury currency outstanding (11)                             49,903   +       14   +      463       49,903  
                                                                                                              
Total factors supplying reserve funds                       4,087,901   -    9,887   -  387,918    4,086,600  

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  Jan 30, 2019 
Federal Reserve Banks                                     Jan 30, 2019 Jan 23, 2019 Jan 31, 2018              

Currency in circulation (11)                                 1,702,741   -    2,128   +   96,975    1,703,424 
Reverse repurchase agreements (12)                             247,571   -    9,586   -   19,085      249,236 
  Foreign official and international accounts                  244,185   -    2,029   +    6,917      248,246 
  Others                                                         3,386   -    7,558   -   26,002          990 
Treasury cash holdings                                             251   +       14   -        8          259 
Deposits with F.R. Banks, other than reserve balances          475,139   +    5,387   +  123,730      480,026 
  Term deposits held by depository institutions                      0            0            0            0 
  U.S. Treasury, General Account                               403,276   +   13,650   +  133,032      411,384 
  Foreign official                                               5,244   -       40   -       10        5,242 
  Other (13)                                                    66,619   -    8,223   -    9,293       63,399 
Other liabilities and capital (14)                              44,661   +      764   -    3,438       44,516 
                                                                                                              
Total factors, other than reserve balances,               
    absorbing reserve funds                                  2,470,363   -    5,549   +  198,174    2,477,460 
                                                                                                              
Reserve balances with Federal Reserve Banks                  1,617,539   -    4,337   -  586,091    1,609,140 

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  Jan 30, 2019 
                                                          Jan 30, 2019 Jan 23, 2019 Jan 31, 2018              

Securities held in custody for foreign official and       
     international accounts                                  3,414,056   +    5,595   +   47,758    3,417,099 
  Marketable U.S. Treasury securities (1)                    3,025,658   -    1,725   -      338    3,028,428 
  Federal agency debt and mortgage-backed securities (2)       318,935   +    6,834   +   57,719      319,242 
  Other securities (3)                                          69,462   +      486   -    9,624       69,428 
Securities lent to dealers                                      19,236   -    1,323   -    4,185       19,421 
  Overnight facility (4)                                        19,236   -    1,323   -    4,185       19,421 
    U.S. Treasury securities                                    19,236   -    1,323   -    4,185       19,421 
    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 30, 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                                           34             0             0             0             0           ...            34 
U.S. Treasury securities (1)                                                                                                           
  Holdings                                  14,191       110,357       260,766       957,302       259,354       618,041     2,220,012 
  Weekly changes                                 0    +   31,746    -   31,748    +    1,761    -    1,814    -       49    -      103 
Federal agency debt securities (2)                                                                                                     
  Holdings                                       0            62             0             0             0         2,347         2,409 
  Weekly changes                                 0             0             0             0             0             0             0 
Mortgage-backed securities (3)                                                                                                         
  Holdings                                       0             0             4           208        64,472     1,557,126     1,621,809 
  Weekly changes                                 0             0             0    -        8    -      809    -    6,267    -    7,086 
Repurchase agreements (4)                        0             0           ...           ...           ...           ...             0 
Central bank liquidity swaps (5)                77             0             0             0             0             0            77 
                                                                                                                                       
Reverse repurchase agreements (4)          249,236             0           ...           ...           ...           ...       249,236 
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   
                                                                                                                      Jan 30, 2019  

Mortgage-backed securities held outright (1)                                                                             1,621,809  
                                                                                                                                    
Commitments to buy mortgage-backed securities (2)                                                                              292  
Commitments to sell mortgage-backed securities (2)                                                                               0  
                                                                                                                                    
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       Jan 30, 2019   Wednesday    Wednesday  
                                                        consolidation                Jan 23, 2019 Jan 31, 2018 

Assets                                                                                                         
  Gold certificate account                                                   11,037            0            0  
  Special drawing rights certificate account                                  5,200            0            0  
  Coin                                                                        1,801   +       21   -      144  
  Securities, unamortized premiums and discounts,     
     repurchase agreements, and loans                                     3,969,512   -    7,600   -  375,131  
    Securities held outright (1)                                          3,844,229   -    7,190   -  357,117  
      U.S. Treasury securities                                            2,220,012   -      103   -  216,199  
        Bills (2)                                                                 0            0            0  
        Notes and bonds, nominal (2)                                      2,083,586            0   -  224,005  
        Notes and bonds, inflation-indexed (2)                              114,769            0   +    5,356  
        Inflation compensation (3)                                           21,656   -      104   +    2,450  
      Federal agency debt securities (2)                                      2,409            0   -    1,982  
      Mortgage-backed securities (4)                                      1,621,809   -    7,086   -  138,934  
    Unamortized premiums on securities held outright  
    (5)                                                                     138,538   -      458   -   18,799  
    Unamortized discounts on securities held outright 
    (5)                                                                     -13,289   +       33   +      805  
    Repurchase agreements (6)                                                     0            0            0  
    Loans                                                                        34   +       15   -       20  
  Net portfolio holdings of Maiden Lane LLC (7)                                   0            0   -    1,715  
  Items in process of collection                                   (0)           93   -      113   +        2  
  Bank premises                                                               2,207   +        2   -        3  
  Central bank liquidity swaps (8)                                               77   -        9   -      596  
  Foreign currency denominated assets (9)                                    20,951   +       21   -    1,159  
  Other assets (10)                                                          28,800   +      303   -      801  
                                                                                                               
Total assets                                                       (0)    4,039,678   -    7,374   -  379,547  

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       Jan 30, 2019   Wednesday    Wednesday  
                                                        consolidation                Jan 23, 2019 Jan 31, 2018 

Liabilities                                                                                                    
  Federal Reserve notes, net of F.R. Bank holdings                         1,655,577   -    1,504   +   95,275 
  Reverse repurchase agreements (11)                                         249,236   -    4,381   -   61,240 
  Deposits                                                          (0)    2,089,165   -    2,986   -  411,000 
    Term deposits held by depository institutions                                  0            0            0 
    Other deposits held by depository institutions                         1,609,140   -    2,578   -  533,236 
    U.S. Treasury, General Account                                           411,384   +    9,157   +  135,590 
    Foreign official                                                           5,242   -        1   -       13 
    Other (12)                                                      (0)       63,399   -    9,564   -   13,341 
  Deferred availability cash items                                  (0)        1,184   +      753   +       55 
  Other liabilities and accrued dividends (13)                                 5,376   +      736   -      290 
                                                                                                               
Total liabilities                                                   (0)    4,000,538   -    7,381   -  377,200 
                                                                                                               
Capital accounts                                                                                               
  Capital paid in                                                             32,315   +        7   +      828 
  Surplus                                                                      6,825            0   -    3,175 
  Other capital accounts                                                           0            0            0 
                                                                                                               
Total capital                                                                 39,140   +        7   -    2,347 

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, January 30, 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                                             1,801          48          47          153         127         233         201         296          31          47         115         204         298
  Securities, unamortized premiums and      
     discounts, repurchase agreements,      
     and loans                                 3,969,512      75,814   2,191,465      100,221     112,536     234,899     238,275     212,616      52,847      33,128      62,489     164,137     491,086
    Securities held outright (1)               3,844,229      73,421   2,122,313       97,059     108,985     227,487     230,757     205,889      51,179      32,080      60,517     158,958     475,585
      U.S. Treasury securities                 2,220,012      42,400   1,225,619       56,051      62,938     131,372     133,260     118,899      29,556      18,526      34,948      91,797     274,647
        Bills (2)                                      0           0           0            0           0           0           0           0           0           0           0           0           0
        Notes and bonds (3)                    2,220,012      42,400   1,225,619       56,051      62,938     131,372     133,260     118,899      29,556      18,526      34,948      91,797     274,647
      Federal agency debt securities (2)           2,409          46       1,330           61          68         143         145         129          32          20          38         100         298
      Mortgage-backed securities (4)           1,621,809      30,975     895,364       40,947      45,979      95,972      97,352      86,861      21,592      13,534      25,531      67,061     200,641
    Unamortized premiums on securities held 
      outright (5)                               138,538       2,646      76,484        3,498       3,928       8,198       8,316       7,420       1,844       1,156       2,181       5,729      17,139
    Unamortized discounts on securities     
      held outright (5)                          -13,289        -254      -7,337         -336        -377        -786        -798        -712        -177        -111        -209        -550      -1,644
    Repurchase agreements (6)                          0           0           0            0           0           0           0           0           0           0           0           0           0
    Loans                                             34           1           5            0           0           0           0          20           0           3           0           0           5
  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                      93           0           0            0           0           0          92           0           0           0           0           0           0
  Bank premises                                    2,207         108         460           82         118         194         208         193         106          95         232         220         193
  Central bank liquidity swaps (8)                    77           3          24            4           6          17           4           3           1           0           1           1          11
  Foreign currency denominated                                                                                                                                                                           
     assets (9)                                   20,951         891       6,606        1,190       1,691       4,525       1,211         888         302          96         208         259       3,083
  Other assets (10)                               28,800         578      15,355          720         829       1,958       1,723       1,508         468         292         527       1,333       3,508
  Interdistrict settlement account                     0  +    5,279  -    9,209   -    5,452  +    2,678  -   13,500  +   31,682  -       68  +    7,373  +    3,637  -    3,625  +    4,101  -   22,896
                                                                                                                                                                                                         
Total assets                                   4,039,678      83,282   2,210,192       97,478     118,767     229,511     275,541     216,599      61,613      37,586      60,406     171,443     477,262

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, January 30, 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            1,866,864      57,732     618,866      54,854      89,231     125,939     261,212     121,771      55,883      31,413      49,787     150,262     249,914
    Less: Notes held by F.R. Banks               211,287       6,478      55,544       7,258      10,086      14,898      33,361      15,207       5,784       2,938       6,385      19,306      34,043
      Federal Reserve notes, net               1,655,577      51,254     563,323      47,596      79,145     111,042     227,851     106,564      50,099      28,475      43,402     130,956     215,871
  Reverse repurchase agreements (11)             249,236       4,760     137,598       6,293       7,066      14,749      14,961      13,349       3,318       2,080       3,924      10,306      30,834
  Deposits                                     2,089,165      25,394   1,494,686      41,111      29,213      94,723      30,013      94,700       7,453       5,585      12,541      29,448     224,301
    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                           1,609,140      25,378   1,058,326      41,108      29,188      94,412      29,975      51,682       7,445       5,450      12,526      29,356     224,293
    U.S. Treasury, General Account               411,384           0     411,384           0           0           0           0           0           0           0           0           0           0
    Foreign official                               5,242           2       5,215           2           3           9           2           2           1           0           0           0           6
    Other (12)                                    63,399          14      19,761           1          21         302          36      43,016           7         134          14          92           2
  Deferred availability cash items                 1,184           0           0           0           0           0          71           0           0       1,113           0           0           0
  Earnings remittances due to the U.S.      
     Treasury (13)                                   845          15         423          18          31          58          77          42          11          10           9          51          99
  Other liabilities and accrued             
     dividends                                     4,531         172       1,736         198         186         589         291         310         123         137         166         211         413
                                                                                                                                                                                                        
Total liabilities                              4,000,538      81,594   2,197,766      95,215     115,640     221,160     273,264     214,965      61,004      37,399      60,041     170,971     471,519
                                                                                                                                                                                                        
Capital                                                                                                                                                                                                 
  Capital paid in                                 32,315       1,393      10,260       1,868       2,581       6,896       1,881       1,350         505         154         298         387       4,740
  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                  4,039,678      83,282   2,210,192      97,478     118,767     229,511     275,541     216,599      61,613      37,586      60,406     171,443     477,262

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, January 30, 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   
                                                                                          Jan 30, 2019  

Federal Reserve notes outstanding                                                            1,866,864  
  Less: Notes held by F.R. Banks not subject to collateralization                              211,287  
    Federal Reserve notes to be collateralized                                               1,655,577  
Collateral held against Federal Reserve notes                                                1,655,577  
  Gold certificate account                                                                      11,037  
  Special drawing rights certificate account                                                     5,200  
  U.S. Treasury, agency debt, and mortgage-backed securities pledged (1,2)                   1,639,340  
  Other assets pledged                                                                               0  
Memo:                                                                                                   
Total U.S. Treasury, agency debt, and mortgage-backed securities (1,2)                       3,844,229  
  Less: Face value of securities under reverse repurchase agreements                           241,333  
    U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged        3,602,896  

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.