FEDERAL RESERVE statistical release

H.4.1

Factors Affecting Reserve Balances of Depository Institutions and

Condition Statement of Federal Reserve Banks October 24, 2019

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

Oct 23, 2019 Oct 16, 2019 Oct 24, 2018

Wednesday

Oct 23, 2019

Reserve Bank credit 3,933,202 + 23,531 - 203,427 3,929,933

Securities held outright1 3,600,390 + 7,390 - 375,839 3,609,449

U.S. Treasury securities 2,136,929 + 15,216 - 157,286 2,149,188

Bills2 17,789 + 11,787 + 17,729 28,505

Notes and bonds, nominal2 1,973,625 + 3,431 - 182,970 1,975,169

Notes and bonds, inflation-indexed2 120,993 0 + 5,414 120,993

Inflation compensation3 24,522 - 1 + 2,540 24,521

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

Mortgage-backed securities4 1,461,114 - 7,826 - 218,491 1,457,914

Unamortized premiums on securities held outright5 127,394 - 451 - 16,531 127,189

Unamortized discounts on securities held outright5 -12,586 - 48 + 997 -12,633

Repurchase agreements6 190,580 + 16,216 + 190,580 178,204

Loans 55 - 10 - 147 54

Primary credit 1 - 1 - 15 5

Secondary credit 0 0 0 0

Seasonal credit 53 - 10 - 133 50

Other credit extensions 0 0 0 0

Net portfolio holdings of Maiden Lane LLC7 0 0 - 7 0

Float -101 + 16 + 42 -127

Central bank liquidity swaps8 43 0 - 37 43

Other Federal Reserve assets9 27,428 + 420 - 2,483 27,753

Foreign currency denominated assets10 20,710 + 109 - 98 20,673

Gold stock 11,041 0 0 11,041

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

Treasury currency outstanding11 50,067 + 14 + 354 50,067

Total factors supplying reserve funds 4,020,220 + 23,654 - 203,172 4,016,914

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

Oct 23, 2019 Oct 16, 2019 Oct 24, 2018

Wednesday

Oct 23, 2019

Currency in circulation11 1,771,586 + 779 + 81,856 1,773,219

Reverse repurchase agreements12 311,006 + 11,403 + 83,119 306,047

Foreign official and international accounts 293,999 - 3,257 + 71,275 287,757

Others 17,007 + 14,660 + 11,845 18,290

Treasury cash holdings 200 + 2 - 30 192

Deposits with F.R. Banks, other than reserve balances 442,802 + 42,692 + 263 440,764

Term deposits held by depository institutions 0 0 0 0

U.S. Treasury, General Account 377,985 + 53,381 + 8,409 375,170

Foreign official 5,187 + 1 - 69 5,186

Other13 59,630 - 10,690 - 8,077 60,407

Other liabilities and capital14 45,583 + 102 + 185 45,137

Total factors, other than reserve balances,

absorbing reserve funds 2,571,177 + 54,979 + 165,393 2,565,359

Reserve balances with Federal Reserve Banks 1,449,043 - 31,325 - 368,565 1,451,555

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

Oct 23, 2019 Oct 16, 2019 Oct 24, 2018

Wednesday

Oct 23, 2019

Securities held in custody for foreign official and international

accounts 3,419,508 + 7,593 - 14,749 3,417,395

Marketable U.S. Treasury securities1 2,972,663 + 7,758 - 87,997 2,970,717

Federal agency debt and mortgage-backed securities2 364,207 - 1,173 + 57,147 363,906

Other securities3 82,638 + 1,007 + 16,101 82,773

Securities lent to dealers 22,519 - 3,416 + 7,144 21,743

Overnight facility4 22,519 - 3,416 + 7,144 21,743

U.S. Treasury securities 22,519 - 3,416 + 7,144 21,743

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, October 23, 2019

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 54 0 0 0 0 ... 54

U.S. Treasury securities1

Holdings 15,736 77,195 276,315 852,320 302,406 625,216 2,149,188

Weekly changes + 53 + 14,163 + 8,664 + 3,225 - 1 - 1 + 26,103

Federal agency debt securities2

Holdings 0 0 0 0 486 1,861 2,347

Weekly changes 0 0 0 0 0 0 0

Mortgage-backed securities3

Holdings 0 0 9 939 78,606 1,378,360 1,457,914

Weekly changes 0 0 0 + 140 + 12 - 5,375 - 5,223

Repurchase agreements4 178,204 0 ... ... ... ... 178,204

Central bank liquidity swaps5 43 0 0 0 0 0 43

Reverse repurchase agreements4 306,047 0 ... ... ... ... 306,047

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 Oct 23, 2019

Mortgage-backed securities held outright1 1,457,914

Commitments to buy mortgage-backed securities2 5,584

Commitments to sell mortgage-backed securities2 0

Cash and cash equivalents3 7

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

Oct 23, 2019 Oct 16, 2019 Oct 24, 2018

Assets

Gold certificate account 11,037 0 0

Special drawing rights certificate account 5,200 0 0

Coin 1,680 - 4 - 66

Securities, unamortized premiums and discounts,

repurchase agreements, and loans 3,902,264 + 844 - 201,700

Securities held outright1 3,609,449 + 20,880 - 364,131

U.S. Treasury securities 2,149,188 + 26,103 - 145,027

Bills2 28,505 + 22,503 + 28,452

Notes and bonds, nominal2 1,975,169 + 3,602 - 181,426

Notes and bonds, inflation-indexed2 120,993 0 + 5,414

Inflation compensation3 24,521 - 2 + 2,533

Federal agency debt securities2 2,347 0 - 62

Mortgage-backed securities4 1,457,914 - 5,223 - 219,042

Unamortized premiums on securities held outright5 127,189 - 428 - 16,533

Unamortized discounts on securities held outright5 -12,633 - 107 + 939

Repurchase agreements6 178,204 - 19,496 + 178,204

Loans 54 - 6 - 180

Net portfolio holdings of Maiden Lane LLC7 0 0 - 7

Items in process of collection (0) 50 - 30 - 76

Bank premises 2,191 + 5 + 3

Central bank liquidity swaps8 43 0 - 37

Foreign currency denominated assets9 20,673 + 51 - 25

Other assets10 25,562 + 1,363 - 2,461

Total assets (0) 3,968,700 + 2,229 - 204,370

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

Oct 23, 2019 Oct 16, 2019 Oct 24, 2018

Liabilities

Federal Reserve notes, net of F.R. Bank holdings 1,725,020 + 630 + 82,355

Reverse repurchase agreements11 306,047 + 3,250 + 80,110

Deposits (0) 1,892,318 - 2,237 - 366,882

Term deposits held by depository institutions 0 0 0

Other deposits held by depository institutions 1,451,555 - 18,316 - 373,455

U.S. Treasury, General Account 375,170 + 13,673 + 14,489

Foreign official 5,186 0 - 70

Other12 (0) 60,407 + 2,406 - 7,847

Deferred availability cash items (0) 177 - 43 - 152

Other liabilities and accrued dividends13 5,793 + 607 - 50

Total liabilities (0) 3,929,356 + 2,209 - 204,620

Capital accounts

Capital paid in 32,519 + 20 + 250

Surplus 6,825 0 0

Other capital accounts 0 0 0

Total capital 39,344 + 20 + 250

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, October 23, 2019

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 1,680 44 48 151 105 215 177 279 32 45 107 191 286

Securities, unamortized premiums and

discounts, repurchase agreements,

and loans 3,902,264 80,956 2,128,931 94,498 114,169 238,801 266,815 204,833 56,100 33,795 57,863 169,439 456,063

Securities held outright1 3,609,449 74,882 1,969,210 87,409 105,603 220,885 246,789 189,465 51,877 31,233 53,522 156,727 421,846

U.S. Treasury securities 2,149,188 44,587 1,172,534 52,046 62,880 131,523 146,947 112,814 30,889 18,597 31,869 93,320 251,182

Bills2 28,505 591 15,551 690 834 1,744 1,949 1,496 410 247 423 1,238 3,331

Notes and bonds3 2,120,683 43,996 1,156,983 51,356 62,046 129,778 144,998 111,318 30,480 18,351 31,446 92,083 247,850

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

Mortgage-backed securities4 1,457,914 30,246 795,395 35,306 42,655 89,219 99,682 76,528 20,954 12,616 21,619 63,304 170,390

Unamortized premiums on securities 

held outright5 127,189 2,639 69,390 3,080 3,721 7,783 8,696 6,676 1,828 1,101 1,886 5,523 14,865

Unamortized discounts on securities 

held outright5 -12,633 -262 -6,892 -306 -370 -773 -864 -663 -182 -109 -187 -549 -1,476

Repurchase agreements6 178,204 3,697 97,223 4,315 5,214 10,905 12,184 9,354 2,561 1,542 2,642 7,738 20,827

Loans 54 0 0 0 0 0 9 1 15 28 0 0 1

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 50 0 1 0 0 0 49 0 0 0 0 0 0

Bank premises 2,191 108 456 83 116 191 204 194 102 94 228 223 190

Central bank liquidity swaps8 43 2 14 2 3 9 2 2 1 0 0 1 6

Foreign currency denominated

assets9 20,673 890 6,561 1,194 1,650 4,408 1,202 863 315 98 200 256 3,035

Other assets10 25,562 548 13,495 613 757 1,783 1,733 1,314 436 268 460 1,203 2,952

Interdistrict settlement account 0 + 6,813 - 151,045 - 15,536 + 10,327 + 8,325 + 35,853 + 23,949 + 7,039 + 3,599 + 4,289 + 22,842 + 43,544

Total assets 3,968,700 89,908 2,003,987 81,542 127,896 254,898 308,250 232,570 64,503 38,176 63,594 195,326 508,051

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, October 23, 2019 (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 1,937,881 58,602 641,751 55,319 92,029 132,499 272,309 125,099 57,471 31,099 51,569 161,646 258,488

Less: Notes held by F.R. Banks 212,861 6,732 54,039 9,084 9,871 16,746 27,977 14,463 6,144 3,667 7,888 21,799 34,451

Federal Reserve notes, net 1,725,020 51,870 587,712 46,235 82,158 115,754 244,331 110,636 51,328 27,432 43,681 139,847 224,037

Reverse repurchase agreements11 306,047 6,349 166,971 7,411 8,954 18,729 20,925 16,065 4,399 2,648 4,538 13,289 35,769

Deposits 1,892,318 29,694 1,233,651 26,146 33,289 111,639 40,165 103,996 7,992 7,528 14,804 41,427 241,987

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 1,451,555 29,685 834,936 26,144 33,239 110,942 40,131 62,937 7,988 7,477 14,777 41,320 241,980

U.S. Treasury, General Account 375,170 0 375,170 0 0 0 0 0 0 0 0 0 0

Foreign official 5,186 2 5,159 2 3 9 2 2 1 0 0 0 6

Other12 60,407 8 18,386 0 46 689 32 41,057 4 51 27 106 1

Deferred availability cash items 177 0 0 0 0 0 48 0 0 129 0 0 0

Earnings remittances due to the U.S.

Treasury13 1,134 22 628 30 35 64 97 48 19 9 17 54 110

Other liabilities and accrued

dividends 4,660 185 1,808 184 207 540 319 317 143 150 158 230 420

Total liabilities 3,929,356 88,121 1,990,768 80,006 124,643 246,726 305,886 231,062 63,881 37,897 63,198 194,847 502,322

Capital

Capital paid in 32,519 1,494 11,053 1,142 2,708 6,716 1,968 1,223 518 247 330 394 4,727

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 3,968,700 89,908 2,003,987 81,542 127,896 254,898 308,250 232,570 64,503 38,176 63,594 195,326 508,051

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, October 23, 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).
H.4.1

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

Millions of dollars

Wednesday Federal Reserve notes and collateral Oct 23, 2019

Federal Reserve notes outstanding 1,937,881

Less: Notes held by F.R. Banks not subject to collateralization 212,861

Federal Reserve notes to be collateralized 1,725,020

Collateral held against Federal Reserve notes 1,725,020

Gold certificate account 11,037

Special drawing rights certificate account 5,200

U.S. Treasury, agency debt, and mortgage-backed securities pledged1,2 1,708,783

Other assets pledged 0

Memo:

Total U.S. Treasury, agency debt, and mortgage-backed securities1,2 3,787,653

Less: Face value of securities under reverse repurchase agreements 293,870

U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 3,493,784

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.