FEDERAL RESERVE statistical release

H.4.1

Factors Affecting Reserve Balances of Depository Institutions and

Condition Statement of Federal Reserve Banks April 14, 2016

1. Factors Affecting Reserve Balances of Depository Institutions

Millions of dollars

Averages of daily figures

Change from week ended

Reserve Bank credit, related items, and

reserve balances of depository institutions at

Federal Reserve Banks

Week ended

Apr 13, 2016 Apr 6, 2016 Apr 15, 2015

Wednesday

Apr 13, 2016

Reserve Bank credit 4,447,993 + 4,398 - 816 4,460,326

Securities held outright1 4,245,566 + 1,886 + 14,708 4,256,748

U.S. Treasury securities 2,461,359 + 23 + 1,594 2,461,368

Bills2 0 0 0 0

Notes and bonds, nominal2 2,341,898 0 - 4,811 2,341,898

Notes and bonds, inflation-indexed2 103,501 0 + 5,032 103,501

Inflation compensation3 15,960 + 23 + 1,373 15,969

Federal agency debt securities2 29,257 0 - 7,480 29,257

Mortgage-backed securities4 1,754,950 + 1,863 + 20,594 1,766,123

Unamortized premiums on securities held outright5 185,142 - 263 - 16,983 185,357

Unamortized discounts on securities held outright5 -16,330 + 31 + 1,572 -16,318

Repurchase agreements6 0 0 0 0

Loans 41 + 7 + 7 41

Primary credit 1 - 6 - 9 2

Secondary credit 0 0 0 0

Seasonal credit 39 + 12 + 15 39

Other credit extensions 0 0 0 0

Net portfolio holdings of Maiden Lane LLC7 1,722 0 + 30 1,722

Float -154 + 122 + 391 -236

Central bank liquidity swaps8 45 - 101 + 45 45

Other Federal Reserve assets9 31,961 + 2,716 - 586 32,969

Foreign currency denominated assets10 21,062 + 210 + 1,692 20,884

Gold stock 11,041 0 0 11,041

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

Treasury currency outstanding11 47,756 + 14 + 1,038 47,756

Total factors supplying reserve funds 4,533,051 + 4,621 + 1,913 4,545,208

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

Apr 13, 2016 Apr 6, 2016 Apr 15, 2015

Wednesday

Apr 13, 2016

Currency in circulation11 1,444,509 + 560 + 82,633 1,444,981

Reverse repurchase agreements12 262,381 - 79,834 + 23,665 258,536

Foreign official and international accounts 240,040 - 929 + 86,388 241,926

Others 22,342 - 78,904 - 62,722 16,610

Treasury cash holdings 196 - 15 - 34 183

Deposits with F.R. Banks, other than reserve balances 280,720 - 21,931 + 210,556 282,719

Term deposits held by depository institutions 0 0 0 0

U.S. Treasury, General Account 239,635 - 24,688 + 189,188 237,928

Foreign official 5,176 + 2 - 54 5,197

Other13 35,908 + 2,754 + 21,422 39,594

Other liabilities and capital14 48,415 + 987 - 18,423 48,947

Total factors, other than reserve balances,

absorbing reserve funds 2,036,221 - 100,233 + 298,397 2,035,365

Reserve balances with Federal Reserve Banks 2,496,830 + 104,853 - 296,484 2,509,842

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

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

2. Face value of the securities.

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

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

the securities.

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

amortized. For U.S. Treasury and Federal agency debt securities, amortization is on a straight-line basis. For mortgage-backed securities,

amortization is on an effective-interest basis.

6. Cash value of agreements.

7. Refer to table 4 and the note on consolidation accompanying table 6.

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

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

foreign central bank.

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

Bank premises and equipment net of allowances for depreciation.

10. Revalued daily at current foreign currency exchange rates.

11. Estimated.

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

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

financial market utilities.

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

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

1A. Memorandum Items

Millions of dollars

Averages of daily figures

Memorandum item Week ended Change from week ended

Apr 13, 2016 Apr 6, 2016 Apr 15, 2015

Wednesday

Apr 13, 2016

Securities held in custody for foreign official and international

accounts 3,243,424 - 14,142 - 45,335 3,241,975

Marketable U.S. Treasury securities1 2,928,824 - 14,009 - 31,615 2,927,065

Federal agency debt and mortgage-backed securities2 266,663 + 97 - 18,087 266,963

Other securities3 47,937 - 230 + 4,367 47,947

Securities lent to dealers 18,476 - 4,419 + 7,981 19,581

Overnight facility4 18,476 - 4,419 + 7,981 19,581

U.S. Treasury securities 18,432 - 4,410 + 8,253 19,537

Federal agency debt securities 44 - 9 - 273 44

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

1. Includes securities and U.S. Treasury STRIPS at face value, and inflation compensation on TIPS. Does not include securities pledged as collateral

to foreign official and international account holders against reverse repurchase agreements with the Federal Reserve presented in tables 1, 5, and 6.

2. Face value of federal agency securities and current face value of mortgage-backed securities, which is the remaining principal balance of the

securities.

3. Includes non-marketable U.S. Treasury securities, supranationals, corporate bonds, asset-backed securities, and commercial paper at face value.

4. Face value. Fully collateralized by U.S. Treasury securities.

2. Maturity Distribution of Securities, Loans, and Selected Other Assets and Liabilities, April 13, 2016

Millions of dollars

Remaining Maturity Within 15

days

16 days to

90 days

91 days to

1 year

Over 1 year

to 5 years

Over 5 year

to 10 years

Over 10

years

All

Loans 2 39 0 0 0 ... 41

U.S. Treasury securities1

Holdings 394 80,207 117,587 1,156,734 474,174 632,271 2,461,368

Weekly changes 0 0 + 1 + 4 + 4 + 14 + 23

Federal agency debt securities2

Holdings 2,161 2,000 11,767 10,982 0 2,347 29,257

Weekly changes 0 0 0 0 0 0 0

Mortgage-backed securities3

Holdings 0 0 0 858 8,752 1,756,513 1,766,123

Weekly changes 0 0 0 0 0 + 13,036 + 13,036

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

Central bank liquidity swaps5 45 0 0 0 0 0 45

Reverse repurchase agreements4 258,536 0 ... ... ... ... 258,536

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 Apr 13, 2016

Mortgage-backed securities held outright1 1,766,123

Commitments to buy mortgage-backed securities2 19,633

Commitments to sell mortgage-backed securities2 0

Cash and cash equivalents3 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 5 and table 6.

4. Information on Principal Accounts of Maiden Lane LLC

Millions of dollars

Wednesday Account name Apr 13, 2016

Net portfolio holdings of Maiden Lane LLC1 1,722

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

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

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

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

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

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

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

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

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

table 5 and table 6.

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

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

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

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

5. Consolidated Statement of Condition of All Federal Reserve Banks

Millions of dollars

Change since

Assets, liabilities, and capital Wednesday Wednesday Eliminations from

consolidation

Wednesday

Apr 13, 2016 Apr 6, 2016 Apr 15, 2015

Assets

Gold certificate account 11,037 0 0

Special drawing rights certificate account 5,200 0 0

Coin 1,874 + 1 + 61

Securities, unamortized premiums and discounts,

repurchase agreements, and loans 4,425,827 + 13,179 + 11,417

Securities held outright1 4,256,748 + 13,059 + 26,613

U.S. Treasury securities 2,461,368 + 23 + 1,562

Bills2 0 0 0

Notes and bonds, nominal2 2,341,898 0 - 4,811

Notes and bonds, inflation-indexed2 103,501 0 + 5,033

Inflation compensation3 15,969 + 23 + 1,340

Federal agency debt securities2 29,257 0 - 6,638

Mortgage-backed securities4 1,766,123 + 13,036 + 31,689

Unamortized premiums on securities held outright5 185,357 + 86 - 16,762

Unamortized discounts on securities held outright5 -16,318 + 31 + 1,564

Repurchase agreements6 0 0 0

Loans 41 + 4 + 3

Net portfolio holdings of Maiden Lane LLC7 1,722 0 + 28

Items in process of collection (0) 169 + 1 + 73

Bank premises 2,222 + 2 - 21

Central bank liquidity swaps8 45 - 101 + 45

Foreign currency denominated assets9 20,884 - 131 + 1,486

Other assets10 30,749 + 2,708 + 1,273

Total assets (0) 4,499,729 + 15,660 + 14,363

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

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

Millions of dollars

Change since

Assets, liabilities, and capital Wednesday Wednesday Eliminations from

consolidation

Wednesday

Apr 13, 2016 Apr 6, 2016 Apr 15, 2015

Liabilities

Federal Reserve notes, net of F.R. Bank holdings 1,399,277 - 764 + 82,199

Reverse repurchase agreements11 258,536 - 9,971 + 30,885

Deposits (0) 2,792,564 + 24,462 - 81,829

Term deposits held by depository institutions 0 0 0

Other deposits held by depository institutions 2,509,845 + 42,754 - 239,110

U.S. Treasury, General Account 237,928 - 25,609 + 126,377

Foreign official 5,197 + 24 - 34

Other12 (0) 39,594 + 7,293 + 30,938

Deferred availability cash items (0) 405 - 142 - 183

Other liabilities and accrued dividends13 8,890 + 2,077 + 923

Total liabilities (0) 4,459,672 + 15,662 + 31,995

Capital accounts

Capital paid in 30,057 - 2 + 1,213

Surplus 10,000 0 - 18,844

Other capital accounts 0 0 0

Total capital 40,057 - 2 - 17,632

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

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

2. Face value of the securities.

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

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

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

amortized. For U.S. Treasury and Federal agency debt securities, amortization is on a straight-line basis. For mortgage-backed securities,

amortization is on an effective-interest basis.

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

7. Refer to table 4 and the note on consolidation accompanying table 6.

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

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

central bank.

9. Revalued daily at current foreign currency exchange rates.

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

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

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

financial market utilities.

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

6. Statement of Condition of Each Federal Reserve Bank, April 13, 2016

Millions of dollars

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

Assets

Gold certificate account 11,037 347 3,709 340 505 783 1,600 734 299 171 288 891 1,370

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

Coin 1,874 50 84 132 138 295 175 280 25 58 152 182 303

Securities, unamortized premiums and

discounts, repurchase agreements,

and loans 4,425,827 112,192 2,656,853 110,077 106,406 240,380 249,225 164,448 46,166 26,924 57,503 142,569 513,084

Securities held outright1 4,256,748 107,906 2,555,377 105,872 102,342 231,199 239,706 158,157 44,391 25,888 55,297 137,124 493,487

U.S. Treasury securities 2,461,368 62,394 1,477,588 61,218 59,177 133,686 138,605 91,451 25,668 14,969 31,974 79,289 285,348

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

Notes and bonds3 2,461,368 62,394 1,477,588 61,218 59,177 133,686 138,605 91,451 25,668 14,969 31,974 79,289 285,348

Federal agency debt securities2 29,257 742 17,563 728 703 1,589 1,648 1,087 305 178 380 942 3,392

Mortgage-backed securities4 1,766,123 44,770 1,060,225 43,926 42,462 95,924 99,454 65,619 18,418 10,741 22,943 56,893 204,748

Unamortized premiums on securities 

held outright5 185,357 4,699 111,272 4,610 4,456 10,067 10,438 6,887 1,933 1,127 2,408 5,971 21,488

Unamortized discounts on securities 

held outright5 -16,318 -414 -9,796 -406 -392 -886 -919 -606 -170 -99 -212 -526 -1,892

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

Loans 41 0 0 0 0 0 0 11 12 8 10 0 0

Net portfolio holdings of Maiden

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

Items in process of collection 169 0 0 0 0 0 168 0 0 0 0 0 0

Bank premises 2,222 122 432 74 105 209 206 202 116 91 241 226 198

Central bank liquidity swaps8 45 2 15 2 3 10 2 1 0 0 0 1 7

Foreign currency denominated

assets9 20,884 923 6,892 1,149 1,591 4,657 1,159 560 214 89 208 265 3,177

Other assets10 30,749 820 17,918 775 751 1,854 1,760 1,163 408 211 450 1,048 3,591

Interdistrict settlement account 0 - 29,092 - 202,198 + 9,692 + 26,233 + 33,360 + 13,421 + 10,174 + 11,489 + 6,104 + 2,706 + 28,637 + 89,474

Total assets 4,499,729 85,560 2,487,243 122,452 135,969 281,962 268,371 177,986 58,869 33,739 61,701 174,100 611,777

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

6. Statement of Condition of Each Federal Reserve Bank, April 13, 2016 (continued)

Millions of dollars

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

Liabilities

Federal Reserve notes outstanding 1,568,654 49,151 498,905 49,221 81,750 108,487 222,713 105,565 50,809 27,144 40,010 130,296 204,604

Less: Notes held by F.R. Banks 169,377 5,174 58,494 5,618 8,735 11,460 22,756 10,225 4,865 2,346 4,871 12,576 22,257

Federal Reserve notes, net 1,399,277 43,977 440,411 43,604 73,015 97,027 199,957 95,339 45,944 24,798 35,139 117,720 182,347

Reverse repurchase agreements11 258,536 6,554 155,202 6,430 6,216 14,042 14,559 9,606 2,696 1,572 3,359 8,328 29,972

Deposits 2,792,564 33,037 1,873,575 69,988 53,465 161,434 51,024 71,143 9,646 6,745 22,639 47,217 392,651

Term deposits held by depository

institutions 0 0 0 0 0 0 0 0 0 0 0 0 0

Other deposits held by depository

institutions 2,509,845 33,033 1,598,349 69,986 53,462 161,149 51,015 63,977 9,636 6,745 22,637 47,215 392,641

U.S. Treasury, General Account 237,928 0 237,928 0 0 0 0 0 0 0 0 0 0

Foreign official 5,197 2 5,170 2 3 9 2 1 0 0 0 1 6

Other12 39,594 2 32,127 0 0 277 7 7,165 9 0 1 2 5

Deferred availability cash items 405 0 0 0 0 0 104 0 0 301 0 0 0

Earnings remittances due to the U.S.

Treasury13 1,744 42 1,161 31 21 38 99 68 16 9 21 60 179

Other liabilities and accrued

dividends 7,146 203 3,774 242 239 615 422 324 151 143 149 266 619

Total liabilities 4,459,672 83,813 2,474,122 120,296 132,955 273,156 266,164 176,481 58,453 33,568 61,306 173,591 605,768

Capital

Capital paid in 30,057 1,305 9,822 1,606 2,252 6,575 1,652 1,237 313 128 296 383 4,488

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

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

Total liabilities and capital 4,499,729 85,560 2,487,243 122,452 135,969 281,962 268,371 177,986 58,869 33,739 61,701 174,100 611,777

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

6. Statement of Condition of Each Federal Reserve Bank, April 13, 2016 (continued)

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

2. Face value of the securities.

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

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

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

agency debt securities, amortization is on a straight-line basis. For mortgage-backed securities, amortization is on an effective-interest basis.

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

7. Refer to table 4 and the note on consolidation below.

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

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

9. Revalued daily at current foreign currency exchange rates.

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

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

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

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

providing for the costs of operations, payment of dividends, and the amount necessary to maintain a $10 billion surplus.

Note on consolidation:

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

assets of Bear Stearns. On June 14, 2012, the remaining outstanding balance of the senior loan from FRBNY to ML was repaid in full, with interest. On November 15, 2012, the remaining outstanding balance of

the subordinated loan from JPMorgan Chase & Co. to ML was repaid in full, with interest. FRBNY was the primary beneficiary of ML because it received any residual returns and could have absorbed any

residual losses should they have occurred. Consistent with generally accepted accounting principles, the assets and liabilities of ML were consolidated with the assets and liabilities of FRBNY in the preparation

of the statements of condition shown on this release. As a consequence of the consolidation, the extension of credit from FRBNY to ML was eliminated, the net assets of ML appeared as assets on the previous

page (and in table 1 and table 5), and the liabilities of ML to entities other than FRBNY, including those with recourse only to the ML portfolio holdings, were included in other liabilities in this table (and table 1

and table 5).
H.4.1

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

Millions of dollars

Wednesday Federal Reserve notes and collateral Apr 13, 2016

Federal Reserve notes outstanding 1,568,654

Less: Notes held by F.R. Banks not subject to collateralization 169,377

Federal Reserve notes to be collateralized 1,399,277

Collateral held against Federal Reserve notes 1,399,277

Gold certificate account 11,037

Special drawing rights certificate account 5,200

U.S. Treasury, agency debt, and mortgage-backed securities pledged1,2 1,383,041

Other assets pledged 0

Memo:

Total U.S. Treasury, agency debt, and mortgage-backed securities1,2 4,256,748

Less: Face value of securities under reverse repurchase agreements 240,247

U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 4,016,500

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.