FEDERAL RESERVE statistical release

H.4.1

Factors Affecting Reserve Balances of Depository Institutions and

Condition Statement of Federal Reserve Banks June 20, 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

Jun 19, 2019 Jun 12, 2019 Jun 20, 2018

Wednesday

Jun 19, 2019

Reserve Bank credit 3,808,983 - 1,077 - 470,515 3,805,133

Securities held outright1 3,665,059 - 2,587 - 449,478 3,661,227

U.S. Treasury securities 2,110,053 + 159 - 268,025 2,110,084

Bills2 37 - 13 + 37 5

Notes and bonds, nominal2 1,970,270 0 - 271,891 1,970,270

Notes and bonds, inflation-indexed2 116,516 0 + 1,656 116,516

Inflation compensation3 23,229 + 172 + 2,172 23,293

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

Mortgage-backed securities4 1,552,659 - 2,746 - 181,391 1,548,796

Unamortized premiums on securities held outright5 131,969 - 279 - 18,588 131,780

Unamortized discounts on securities held outright5 -12,947 + 29 + 1,018 -12,936

Repurchase agreements6 0 0 0 0

Loans 72 + 23 - 63 154

Primary credit 19 + 17 + 11 95

Secondary credit 0 0 0 0

Seasonal credit 53 + 6 - 74 58

Other credit extensions 0 0 0 0

Net portfolio holdings of Maiden Lane LLC7 0 0 - 1,713 0

Float -138 + 37 + 22 -112

Central bank liquidity swaps8 17 - 5 - 78 17

Other Federal Reserve assets9 24,952 + 1,706 - 1,634 25,003

Foreign currency denominated assets10 20,816 - 111 - 295 20,811

Gold stock 11,041 0 0 11,041

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

Treasury currency outstanding11 49,995 + 14 + 394 49,995

Total factors supplying reserve funds 3,896,036 - 1,174 - 470,415 3,892,180

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

Jun 19, 2019 Jun 12, 2019 Jun 20, 2018

Wednesday

Jun 19, 2019

Currency in circulation11 1,737,034 - 261 + 76,183 1,737,788

Reverse repurchase agreements12 268,581 - 2,830 + 20,324 284,695

Foreign official and international accounts 261,544 - 8,045 + 13,948 262,338

Others 7,037 + 5,215 + 6,376 22,357

Treasury cash holdings 211 - 10 - 20 197

Deposits with F.R. Banks, other than reserve balances 276,461 + 20,365 - 162,457 322,681

Term deposits held by depository institutions 0 0 0 0

U.S. Treasury, General Account 198,398 + 10,838 - 154,379 258,641

Foreign official 5,244 - 33 - 11 5,244

Other13 72,818 + 9,558 - 8,067 58,795

Other liabilities and capital14 45,794 + 571 - 417 45,295

Total factors, other than reserve balances,

absorbing reserve funds 2,328,081 + 17,834 - 66,387 2,390,656

Reserve balances with Federal Reserve Banks 1,567,955 - 19,008 - 404,028 1,501,524

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

Jun 19, 2019 Jun 12, 2019 Jun 20, 2018

Wednesday

Jun 19, 2019

Securities held in custody for foreign official and international

accounts 3,477,434 + 16,321 + 73,746 3,474,103

Marketable U.S. Treasury securities1 3,056,381 + 4,887 + 14,473 3,052,703

Federal agency debt and mortgage-backed securities2 344,133 + 11,203 + 54,557 344,041

Other securities3 76,920 + 230 + 4,715 77,359

Securities lent to dealers 27,062 - 4,202 + 7,014 25,567

Overnight facility4 27,062 - 4,202 + 7,014 25,567

U.S. Treasury securities 27,062 - 4,202 + 7,014 25,567

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, June 19, 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 145 8 0 0 0 ... 154

U.S. Treasury securities1

Holdings 21,463 90,995 246,843 870,762 267,857 612,163 2,110,084

Weekly changes + 21,418 - 21,462 + 1 + 24 + 80 + 65 + 127

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 8 301 71,969 1,476,517 1,548,796

Weekly changes 0 0 0 - 5 - 458 - 6,147 - 6,609

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

Central bank liquidity swaps5 17 0 0 0 0 0 17

Reverse repurchase agreements4 284,695 0 ... ... ... ... 284,695

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 Jun 19, 2019

Mortgage-backed securities held outright1 1,548,796

Commitments to buy mortgage-backed securities2 757

Commitments to sell mortgage-backed securities2 0

Cash and cash equivalents3 1

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

Jun 19, 2019 Jun 12, 2019 Jun 20, 2018

Assets

Gold certificate account 11,037 0 0

Special drawing rights certificate account 5,200 0 0

Coin 1,670 + 3 - 106

Securities, unamortized premiums and discounts,

repurchase agreements, and loans 3,780,225 - 6,760 - 468,294

Securities held outright1 3,661,227 - 6,482 - 450,794

U.S. Treasury securities 2,110,084 + 127 - 268,040

Bills2 5 - 45 + 5

Notes and bonds, nominal2 1,970,270 0 - 271,891

Notes and bonds, inflation-indexed2 116,516 0 + 1,656

Inflation compensation3 23,293 + 173 + 2,190

Federal agency debt securities2 2,347 0 - 62

Mortgage-backed securities4 1,548,796 - 6,609 - 182,692

Unamortized premiums on securities held outright5 131,780 - 410 - 18,511

Unamortized discounts on securities held outright5 -12,936 + 30 + 1,018

Repurchase agreements6 0 0 0

Loans 154 + 101 - 8

Net portfolio holdings of Maiden Lane LLC7 0 0 - 1,713

Items in process of collection (0) 53 + 10 - 38

Bank premises 2,192 0 + 3

Central bank liquidity swaps8 17 - 5 - 78

Foreign currency denominated assets9 20,811 - 100 - 302

Other assets10 22,810 + 912 - 1,353

Total assets (0) 3,844,016 - 5,939 - 471,880

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

Jun 19, 2019 Jun 12, 2019 Jun 20, 2018

Liabilities

Federal Reserve notes, net of F.R. Bank holdings 1,689,656 - 605 + 75,626

Reverse repurchase agreements11 284,695 + 20,365 + 40,970

Deposits (0) 1,824,204 - 25,994 - 587,808

Term deposits held by depository institutions 0 0 0

Other deposits held by depository institutions 1,501,524 - 108,214 - 450,619

U.S. Treasury, General Account 258,641 + 85,579 - 121,449

Foreign official 5,244 0 - 11

Other12 (0) 58,795 - 3,359 - 15,728

Deferred availability cash items (0) 165 - 156 - 24

Other liabilities and accrued dividends13 6,078 + 422 - 285

Total liabilities (0) 3,804,798 - 5,969 - 471,521

Capital accounts

Capital paid in 32,392 + 28 + 316

Surplus 6,825 0 - 675

Other capital accounts 0 0 0

Total capital 39,217 + 28 - 359

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, June 19, 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 1,670 38 38 145 114 214 184 281 31 47 104 185 288

Securities, unamortized premiums and

discounts, repurchase agreements,

and loans 3,780,225 78,422 2,062,297 91,540 110,595 231,327 258,458 198,428 54,333 32,753 56,054 164,138 441,881

Securities held outright1 3,661,227 75,956 1,997,458 88,662 107,118 224,054 250,329 192,183 52,621 31,681 54,290 158,975 427,898

U.S. Treasury securities 2,110,084 43,776 1,151,200 51,099 61,736 129,130 144,273 110,761 30,327 18,259 31,289 91,622 246,611

Bills2 5 0 3 0 0 0 0 0 0 0 0 0 1

Notes and bonds3 2,110,079 43,776 1,151,197 51,099 61,736 129,129 144,273 110,761 30,327 18,259 31,289 91,622 246,611

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

Mortgage-backed securities4 1,548,796 32,132 844,978 37,507 45,314 94,781 105,896 81,298 22,260 13,402 22,966 67,251 181,012

Unamortized premiums on securities 

held outright5 131,780 2,734 71,895 3,191 3,856 8,064 9,010 6,917 1,894 1,140 1,954 5,722 15,402

Unamortized discounts on securities 

held outright5 -12,936 -268 -7,057 -313 -378 -792 -884 -679 -186 -112 -192 -562 -1,512

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

Loans 154 0 0 0 0 0 3 6 3 43 2 3 94

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 53 0 0 0 0 0 53 0 0 0 0 0 0

Bank premises 2,192 107 457 81 118 192 207 191 104 94 229 221 191

Central bank liquidity swaps8 17 1 5 1 1 4 1 1 0 0 0 0 2

Foreign currency denominated

assets9 20,811 896 6,605 1,202 1,661 4,437 1,210 869 317 99 201 257 3,055

Other assets10 22,810 490 11,935 547 673 1,597 1,542 1,167 527 235 409 1,056 2,633

Interdistrict settlement account 0 + 2,814 - 137,551 - 6,633 + 10,555 + 352 + 24,821 + 8,562 + 6,088 + 3,123 + 2,476 + 20,336 + 65,056

Total assets 3,844,016 83,315 1,949,311 87,421 124,485 239,288 288,690 210,633 61,878 36,628 59,919 187,365 515,081

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, June 19, 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 1,893,408 57,472 624,071 54,537 90,278 130,688 259,578 123,577 56,250 31,404 50,346 158,734 256,474

Less: Notes held by F.R. Banks 203,752 6,273 50,515 8,337 10,283 15,172 31,812 12,939 6,240 3,401 8,072 20,289 30,417

Federal Reserve notes, net 1,689,656 51,198 573,555 46,200 79,995 115,516 227,765 110,639 50,009 28,002 42,274 138,445 226,057

Reverse repurchase agreements11 284,695 5,906 155,321 6,894 8,329 17,422 19,465 14,944 4,092 2,464 4,222 12,362 33,273

Deposits 1,824,204 24,219 1,204,563 32,578 32,701 97,566 38,713 83,111 7,008 5,698 12,862 35,785 249,400

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 1,501,524 24,210 920,926 32,575 32,672 97,274 37,777 45,771 7,005 5,640 12,843 35,437 249,393

U.S. Treasury, General Account 258,641 0 258,641 0 0 0 0 0 0 0 0 0 0

Foreign official 5,244 2 5,217 2 3 9 2 2 1 0 0 0 6

Other12 58,795 8 19,779 1 26 284 933 37,338 3 57 18 348 1

Deferred availability cash items 165 0 0 0 0 0 46 0 0 119 0 0 0

Earnings remittances due to the U.S.

Treasury13 984 16 559 20 26 33 99 50 17 10 14 60 79

Other liabilities and accrued

dividends 5,094 190 2,114 197 222 581 318 321 136 147 153 226 490

Total liabilities 3,804,798 81,530 1,936,112 85,890 121,273 231,119 286,406 209,065 61,263 36,439 59,525 186,877 509,299

Capital

Capital paid in 32,392 1,491 11,033 1,136 2,667 6,714 1,887 1,283 512 157 328 404 4,780

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 3,844,016 83,315 1,949,311 87,421 124,485 239,288 288,690 210,633 61,878 36,628 59,919 187,365 515,081

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, June 19, 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 Jun 19, 2019

Federal Reserve notes outstanding 1,893,408

Less: Notes held by F.R. Banks not subject to collateralization 203,752

Federal Reserve notes to be collateralized 1,689,656

Collateral held against Federal Reserve notes 1,689,656

Gold certificate account 11,037

Special drawing rights certificate account 5,200

U.S. Treasury, agency debt, and mortgage-backed securities pledged1,2 1,673,419

Other assets pledged 0

Memo:

Total U.S. Treasury, agency debt, and mortgage-backed securities1,2 3,661,227

Less: Face value of securities under reverse repurchase agreements 277,591

U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 3,383,636

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.