FEDERAL RESERVE statistical release

H.4.1

Factors Affecting Reserve Balances of Depository Institutions and     
Condition Statement of Federal Reserve Banks                                               September 26, 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  Sep 25, 2019 
Federal Reserve Banks                                     Sep 25, 2019 Sep 18, 2019 Sep 26, 2018              

Reserve Bank credit                                         3,808,515   +   58,554   -  352,860    3,819,084  
  Securities held outright (1)                              3,587,990   -    5,139   -  416,310    3,577,287  
    U.S. Treasury securities                                2,107,405   +    5,315   -  205,802    2,107,683  
      Bills (2)                                                 6,002   +    2,572   +    5,902        6,002  
      Notes and bonds, nominal (2)                          1,958,948   +    2,687   -  216,654    1,959,205  
      Notes and bonds, inflation-indexed (2)                  118,146            0   +    2,567      118,146  
      Inflation compensation (3)                               24,309   +       55   +    2,382       24,330  
    Federal agency debt securities (2)                          2,347            0   -       62        2,347  
    Mortgage-backed securities (4)                          1,478,238   -   10,454   -  210,446    1,467,257  
  Unamortized premiums on securities held outright (5)        127,566   -      561   -   17,699      127,161  
  Unamortized discounts on securities held outright (5)       -12,726            0   +      974      -12,714  
  Repurchase agreements (6)                                    82,250   +   63,943   +   82,250      105,000  
  Loans                                                            95   -       37   -      252           96  
    Primary credit                                                  4   -       51   -       52            4  
    Secondary credit                                                0            0            0            0  
    Seasonal credit                                                90   +       13   -      202           92  
    Other credit extensions                                         0            0            0            0  
  Net portfolio holdings of Maiden Lane LLC (7)                     0            0   -        7            0  
  Float                                                          -129   -        1   +       41          -83  
  Central bank liquidity swaps (8)                                 42   +        3   -       48           42  
  Other Federal Reserve assets (9)                             23,427   +      346   -    1,809       22,295  
Foreign currency denominated assets (10)                       20,617   -       43   -      469       20,562  
Gold stock                                                     11,041            0            0       11,041  
Special drawing rights certificate account                      5,200            0            0        5,200  
Treasury currency outstanding (11)                             50,067   +       14   +      382       50,067  
                                                                                                              
Total factors supplying reserve funds                       3,895,440   +   58,525   -  352,948    3,905,954  

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  Sep 25, 2019 
Federal Reserve Banks                                     Sep 25, 2019 Sep 18, 2019 Sep 26, 2018              

Currency in circulation (11)                                 1,761,741   -      427   +   77,250    1,762,927 
Reverse repurchase agreements (12)                             294,091   -    5,011   +   58,847      290,541 
  Foreign official and international accounts                  289,037   -    5,146   +   66,460      290,408 
  Others                                                         5,054   +      135   -    7,613          133 
Treasury cash holdings                                             170   +        5   -       42          180 
Deposits with F.R. Banks, other than reserve balances          394,051   +   57,624   -   56,753      380,348 
  Term deposits held by depository institutions                      0            0            0            0 
  U.S. Treasury, General Account                               314,189   +   63,963   -   55,842      305,810 
  Foreign official                                               5,185   -       40   -       71        5,187 
  Other (13)                                                    74,677   -    6,298   -      840       69,351 
Other liabilities and capital (14)                              45,216   +      284   +       79       44,670 
                                                                                                              
Total factors, other than reserve balances,               
    absorbing reserve funds                                  2,495,269   +   52,476   +   79,381    2,478,665 
                                                                                                              
Reserve balances with Federal Reserve Banks                  1,400,171   +    6,049   -  432,329    1,427,289 

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  Sep 25, 2019 
                                                          Sep 25, 2019 Sep 18, 2019 Sep 26, 2018              

Securities held in custody for foreign official and       
     international accounts                                  3,458,563   -    8,323   +   20,014    3,452,382 
  Marketable U.S. Treasury securities (1)                    3,015,392   -    5,045   -   48,484    3,011,030 
  Federal agency debt and mortgage-backed securities (2)       361,171   -    3,659   +   55,429      359,101 
  Other securities (3)                                          81,999   +      380   +   13,069       82,251 
Securities lent to dealers                                      31,866   -    2,153   +   13,000       33,722 
  Overnight facility (4)                                        31,866   -    2,153   +   13,000       33,722 
    U.S. Treasury securities                                    31,866   -    2,153   +   13,000       33,722 
    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, September 25, 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                                           76            20             0             0             0           ...            96 
U.S. Treasury securities (1)                                                                                                           
  Holdings                                  13,085        66,568       269,442       839,685       297,606       621,296     2,107,683 
  Weekly changes                        +      100    -       25    -       72    +    1,807    +       26    +       21    +    1,857 
Federal agency debt securities (2)                                                                                                     
  Holdings                                       0             0             0             0           486         1,861         2,347 
  Weekly changes                                 0             0             0             0             0             0             0 
Mortgage-backed securities (3)                                                                                                         
  Holdings                                       0             0             7           642        75,947     1,390,660     1,467,257 
  Weekly changes                                 0             0    -        2    -       19    -    1,104    -   16,053    -   17,177 
Repurchase agreements (4)                  105,000             0           ...           ...           ...           ...       105,000 
Central bank liquidity swaps (5)                42             0             0             0             0             0            42 
                                                                                                                                       
Reverse repurchase agreements (4)          290,541             0           ...           ...           ...           ...       290,541 
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   
                                                                                                                      Sep 25, 2019  

Mortgage-backed securities held outright (1)                                                                             1,467,257  
                                                                                                                                    
Commitments to buy mortgage-backed securities (2)                                                                            4,704  
Commitments to sell mortgage-backed securities (2)                                                                               0  
                                                                                                                                    
Cash and cash equivalents (3)                                                                                                   19  



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       Sep 25, 2019   Wednesday    Wednesday  
                                                        consolidation                Sep 18, 2019 Sep 26, 2018 

Assets                                                                                                         
  Gold certificate account                                                   11,037            0            0  
  Special drawing rights certificate account                                  5,200            0            0  
  Coin                                                                        1,698   -        5   -       68  
  Securities, unamortized premiums and discounts,     
     repurchase agreements, and loans                                     3,796,829   +   13,954   -  332,190  
    Securities held outright (1)                                          3,577,287   -   15,320   -  420,093  
      U.S. Treasury securities                                            2,107,683   +    1,857   -  205,525  
        Bills (2)                                                             6,002            0   +    5,902  
        Notes and bonds, nominal (2)                                      1,959,205   +    1,801   -  216,397  
        Notes and bonds, inflation-indexed (2)                              118,146            0   +    2,567  
        Inflation compensation (3)                                           24,330   +       56   +    2,402  
      Federal agency debt securities (2)                                      2,347            0   -       62  
      Mortgage-backed securities (4)                                      1,467,257   -   17,177   -  214,506  
    Unamortized premiums on securities held outright  
    (5)                                                                     127,161   -      766   -   17,807  
    Unamortized discounts on securities held outright 
    (5)                                                                     -12,714   +       32   +      974  
    Repurchase agreements (6)                                               105,000   +   30,000   +  105,000  
    Loans                                                                        96   +        9   -      263  
  Net portfolio holdings of Maiden Lane LLC (7)                                   0            0   -        7  
  Items in process of collection                                   (0)           53   +        6   -       88  
  Bank premises                                                               2,190   +        1   +        1  
  Central bank liquidity swaps (8)                                               42   +        3   -       48  
  Foreign currency denominated assets (9)                                    20,562   -       90   -      515  
  Other assets (10)                                                          20,105   -      848   -    2,278  
                                                                                                               
Total assets                                                       (0)    3,857,715   +   13,020   -  335,194  

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       Sep 25, 2019   Wednesday    Wednesday  
                                                        consolidation                Sep 18, 2019 Sep 26, 2018 

Liabilities                                                                                                    
  Federal Reserve notes, net of F.R. Bank holdings                         1,714,733   +      165   +   76,518 
  Reverse repurchase agreements (11)                                         290,541   -   34,577   +   60,782 
  Deposits                                                          (0)    1,807,636   +   47,295   -  472,042 
    Term deposits held by depository institutions                                  0            0            0 
    Other deposits held by depository institutions                         1,427,289   +   41,863   -  410,585 
    U.S. Treasury, General Account                                           305,810   +    2,753   -   61,433 
    Foreign official                                                           5,187   +        1   -       68 
    Other (12)                                                      (0)       69,351   +    2,678   +       45 
  Deferred availability cash items                                  (0)          135   -       31   -      405 
  Other liabilities and accrued dividends (13)                                 5,387   +      180   -      232 
                                                                                                               
Total liabilities                                                   (0)    3,818,433   +   13,033   -  335,378 
                                                                                                               
Capital accounts                                                                                               
  Capital paid in                                                             32,457   -       13   +      184 
  Surplus                                                                      6,825            0            0 
  Other capital accounts                                                           0            0            0 
                                                                                                               
Total capital                                                                 39,282   -       13   +      184 

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, September 25, 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         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                                             1,698          44          48          151         108         216         179         282          33          45         111         193         289
  Securities, unamortized premiums and      
     discounts, repurchase agreements,      
     and loans                                 3,796,829      78,768   2,071,387       91,944     111,083     232,348     259,603     199,301      54,590      32,907      56,300     164,859     443,740
    Securities held outright (1)               3,577,287      74,215   1,951,663       86,630     104,662     218,917     244,590     187,777      51,415      30,955      53,045     155,330     418,087
      U.S. Treasury securities                 2,107,683      43,726   1,149,890       51,041      61,665     128,983     144,109     110,635      30,293      18,238      31,254      91,518     246,331
        Bills (2)                                  6,002         125       3,275          145         176         367         410         315          86          52          89         261         701
        Notes and bonds (3)                    2,101,681      43,602   1,146,615       50,896      61,490     128,615     143,698     110,320      30,207      18,186      31,165      91,257     245,629
      Federal agency debt securities (2)           2,347          49       1,280           57          69         144         160         123          34          20          35         102         274
      Mortgage-backed securities (4)           1,467,257      30,440     800,493       35,532      42,928      89,791     100,321      77,018      21,088      12,697      21,757      63,710     171,482
    Unamortized premiums on securities held 
      outright (5)                               127,161       2,638      69,375        3,079       3,720       7,782       8,694       6,675       1,828       1,100       1,886       5,521      14,862
    Unamortized discounts on securities     
      held outright (5)                          -12,714        -264      -6,936         -308        -372        -778        -869        -667        -183        -110        -189        -552      -1,486
    Repurchase agreements (6)                    105,000       2,178      57,285        2,543       3,072       6,426       7,179       5,512       1,509         909       1,557       4,559      12,272
    Loans                                             96           0           0            0           0           1           9           5          21          53           1           0           6
  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                      53           0           0            0           0           0          52           0           0           0           0           0           0
  Bank premises                                    2,190         108         457           82         116         190         205         193         103          94         228         223         191
  Central bank liquidity swaps (8)                    42           2          13            2           3           9           2           2           1           0           0           1           6
  Foreign currency denominated                                                                                                                                                                           
     assets (9)                                   20,562         885       6,526        1,188       1,641       4,384       1,196         858         313          98         199         254       3,018
  Other assets (10)                               20,105         434      10,542          483         595       1,431       1,361       1,030         338         218         372         978       2,324
  Interdistrict settlement account                     0  +    8,324  -  158,599   -   12,991  +   10,541  +    7,757  +   38,846  +   22,438  +    6,269  +    4,109  +    3,584  +   24,928  +   44,793
                                                                                                                                                                                                         
Total assets                                   3,857,715      89,112   1,935,898       81,396     124,856     247,500     303,658     225,238      62,125      37,747      61,240     192,608     496,335

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, September 25, 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            1,928,622      58,029     640,394      55,546      91,163     131,448     272,017     124,270      56,623      31,193      50,493     160,473     256,972
    Less: Notes held by F.R. Banks               213,889       6,862      51,323       9,468      10,185      16,463      31,186      14,911       6,336       3,680       8,330      21,243      33,902
      Federal Reserve notes, net               1,714,733      51,167     589,072      46,078      80,978     114,984     240,831     109,359      50,287      27,513      42,163     139,230     223,070
  Reverse repurchase agreements (11)             290,541       6,028     158,511       7,036       8,500      17,780      19,865      15,251       4,176       2,514       4,308      12,616      33,956
  Deposits                                     1,807,636      29,933   1,172,830      26,542      31,912     106,027      40,192      98,778       6,893       7,210      14,204      40,011     233,104
    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                           1,427,289      29,923     839,083      26,539      31,880     105,792      40,157      52,716       6,889       7,143      14,181      39,888     233,097
    U.S. Treasury, General Account               305,810           0     305,810           0           0           0           0           0           0           0           0           0           0
    Foreign official                               5,187           2       5,159           2           3           9           2           2           1           0           0           0           6
    Other (12)                                    69,351           8      22,778           1          29         226          33      46,061           3          67          22         122           1
  Deferred availability cash items                   135           0           0           0           0           0          44           0           0          91           0           0           0
  Earnings remittances due to the U.S.      
     Treasury (13)                                   707          11         427          16          19           1          71          26          14           8          13          43          58
  Other liabilities and accrued             
     dividends                                     4,680         185       1,840         187         199         536         319         318         139         150         158         228         421
                                                                                                                                                                                                        
Total liabilities                              3,818,433      87,324   1,922,680      79,859     121,608     239,328     301,322     223,732      61,510      37,487      60,846     192,127     490,609
                                                                                                                                                                                                        
Capital                                                                                                                                                                                                 
  Capital paid in                                 32,457       1,494      11,053       1,143       2,703       6,716       1,939       1,221         511         228         328         396       4,724
  Surplus                                          6,825         294       2,166         394         545       1,455         397         285         104          32          66          84       1,002
  Other capital                                        0           0           0           0           0           0           0           0           0           0           0           0           0
                                                                                                                                                                                                        
Total liabilities and capital                  3,857,715      89,112   1,935,898      81,396     124,856     247,500     303,658     225,238      62,125      37,747      61,240     192,608     496,335

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, September 25, 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   
                                                                                          Sep 25, 2019  

Federal Reserve notes outstanding                                                            1,928,622  
  Less: Notes held by F.R. Banks not subject to collateralization                              213,889  
    Federal Reserve notes to be collateralized                                               1,714,733  
Collateral held against Federal Reserve notes                                                1,714,733  
  Gold certificate account                                                                      11,037  
  Special drawing rights certificate account                                                     5,200  
  U.S. Treasury, agency debt, and mortgage-backed securities pledged (1,2)                   1,698,496  
  Other assets pledged                                                                               0  
Memo:                                                                                                   
Total U.S. Treasury, agency debt, and mortgage-backed securities (1,2)                       3,682,287  
  Less: Face value of securities under reverse repurchase agreements                           278,961  
    U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged        3,403,326  

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.