FEDERAL RESERVE statistical release

H.4.1

Factors Affecting Reserve Balances of Depository Institutions and

Condition Statement of Federal Reserve Banks April 28, 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 27, 2016 Apr 20, 2016 Apr 29, 2015

Wednesday

Apr 27, 2016

Reserve Bank credit 4,444,723 - 6,986 + 506 4,434,948

Securities held outright1 4,241,788 - 7,012 + 16,541 4,233,335

U.S. Treasury securities 2,461,405 + 23 + 1,413 2,461,413

Bills2 0 0 0 0

Notes and bonds, nominal2 2,342,292 + 57 - 4,417 2,342,292

Notes and bonds, inflation-indexed2 103,134 - 52 + 4,666 103,134

Inflation compensation3 15,979 + 19 + 1,163 15,987

Federal agency debt securities2 27,096 - 1,235 - 8,799 27,096

Mortgage-backed securities4 1,753,287 - 5,801 + 23,927 1,744,826

Unamortized premiums on securities held outright5 184,271 - 647 - 17,041 183,791

Unamortized discounts on securities held outright5 -16,175 + 121 + 1,652 -16,082

Repurchase agreements6 0 0 0 0

Loans 120 + 71 + 53 70

Primary credit 67 + 62 + 34 15

Secondary credit 0 0 0 0

Seasonal credit 53 + 9 + 18 56

Other credit extensions 0 0 0 0

Net portfolio holdings of Maiden Lane LLC7 1,721 - 1 + 28 1,714

Float -207 + 24 + 263 -660

Central bank liquidity swaps8 0 - 33 0 0

Other Federal Reserve assets9 33,207 + 493 - 987 32,779

Foreign currency denominated assets10 20,736 - 197 + 966 20,772

Gold stock 11,041 0 0 11,041

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

Treasury currency outstanding11 47,784 + 14 + 1,021 47,784

Total factors supplying reserve funds 4,529,485 - 7,168 + 2,493 4,519,745

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 27, 2016 Apr 20, 2016 Apr 29, 2015

Wednesday

Apr 27, 2016

Currency in circulation11 1,445,812 + 1,516 + 86,912 1,448,377

Reverse repurchase agreements12 263,028 - 5,971 + 20,202 267,113

Foreign official and international accounts 237,464 - 3,062 + 79,883 235,681

Others 25,564 - 2,908 - 59,681 31,432

Treasury cash holdings 155 - 24 - 68 147

Deposits with F.R. Banks, other than reserve balances 399,589 + 93,743 + 134,742 404,729

Term deposits held by depository institutions 0 0 0 0

U.S. Treasury, General Account 346,166 + 77,381 + 126,464 372,499

Foreign official 5,234 + 58 - 3 5,174

Other13 48,189 + 16,303 + 8,281 27,056

Other liabilities and capital14 46,740 - 343 - 19,678 46,121

Total factors, other than reserve balances,

absorbing reserve funds 2,155,326 + 88,923 + 222,112 2,166,488

Reserve balances with Federal Reserve Banks 2,374,158 - 96,092 - 219,619 2,353,257

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 27, 2016 Apr 20, 2016 Apr 29, 2015

Wednesday

Apr 27, 2016

Securities held in custody for foreign official and international

accounts 3,238,689 - 3,290 - 49,898 3,237,807

Marketable U.S. Treasury securities1 2,926,366 - 2,231 - 35,002 2,924,033

Federal agency debt and mortgage-backed securities2 263,827 - 1,671 - 19,983 264,755

Other securities3 48,496 + 612 + 5,087 49,018

Securities lent to dealers 17,760 + 478 + 8,976 19,059

Overnight facility4 17,760 + 478 + 8,976 19,059

U.S. Treasury securities 17,701 + 480 + 9,195 19,006

Federal agency debt securities 59 - 2 - 219 53

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 27, 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 63 8 0 0 0 ... 70

U.S. Treasury securities1

Holdings 27,371 56,444 114,431 1,156,462 474,322 632,384 2,461,413

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

Federal agency debt securities2

Holdings 0 4,604 10,663 9,482 0 2,347 27,096

Weekly changes 0 0 0 0 0 0 0

Mortgage-backed securities3

Holdings 0 0 0 854 8,933 1,735,039 1,744,826

Weekly changes 0 0 0 - 25 - 165 - 14,601 - 14,791

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

Central bank liquidity swaps5 0 0 0 0 0 0 0

Reverse repurchase agreements4 267,113 0 ... ... ... ... 267,113

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 27, 2016

Mortgage-backed securities held outright1 1,744,826

Commitments to buy mortgage-backed securities2 25,274

Commitments to sell mortgage-backed securities2 0

Cash and cash equivalents3 16

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 27, 2016

Net portfolio holdings of Maiden Lane LLC1 1,714

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 March 31, 2016. 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 27, 2016 Apr 20, 2016 Apr 29, 2015

Assets

Gold certificate account 11,037 0 0

Special drawing rights certificate account 5,200 0 0

Coin 1,867 - 10 + 66

Securities, unamortized premiums and discounts,

repurchase agreements, and loans 4,401,115 - 15,554 + 3,226

Securities held outright1 4,233,335 - 14,768 + 18,556

U.S. Treasury securities 2,461,413 + 23 + 1,379

Bills2 0 0 0

Notes and bonds, nominal2 2,342,292 0 - 4,417

Notes and bonds, inflation-indexed2 103,134 0 + 4,666

Inflation compensation3 15,987 + 22 + 1,129

Federal agency debt securities2 27,096 0 - 8,799

Mortgage-backed securities4 1,744,826 - 14,791 + 25,976

Unamortized premiums on securities held outright5 183,791 - 995 - 17,069

Unamortized discounts on securities held outright5 -16,082 + 202 + 1,729

Repurchase agreements6 0 0 0

Loans 70 + 6 + 9

Net portfolio holdings of Maiden Lane LLC7 1,714 - 8 + 25

Items in process of collection (0) 182 + 34 + 123

Bank premises 2,222 0 - 22

Central bank liquidity swaps8 0 - 33 0

Foreign currency denominated assets9 20,772 - 143 + 715

Other assets10 30,557 + 249 - 965

Total assets (0) 4,474,665 - 15,466 + 3,166

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 27, 2016 Apr 20, 2016 Apr 29, 2015

Liabilities

Federal Reserve notes, net of F.R. Bank holdings 1,402,602 + 2,734 + 86,619

Reverse repurchase agreements11 267,113 - 1,400 + 17,226

Deposits (0) 2,757,987 - 16,973 - 81,731

Term deposits held by depository institutions 0 0 0

Other deposits held by depository institutions 2,353,257 - 51,408 - 227,810

U.S. Treasury, General Account 372,499 + 34,959 + 127,073

Foreign official 5,174 + 1 - 59

Other12 (0) 27,056 - 526 + 19,064

Deferred availability cash items (0) 842 + 445 + 293

Other liabilities and accrued dividends13 6,084 - 275 - 1,577

Total liabilities (0) 4,434,628 - 15,469 + 20,831

Capital accounts

Capital paid in 30,038 + 4 + 1,187

Surplus 10,000 0 - 18,851

Other capital accounts 0 0 0

Total capital 40,038 + 4 - 17,664

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 27, 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 11,037 355 3,588 359 586 760 1,541 753 360 193 296 875 1,371

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

Coin 1,867 52 77 129 135 297 178 278 22 56 150 184 308

Securities, unamortized premiums and

discounts, repurchase agreements,

and loans 4,401,115 108,122 2,504,490 119,498 131,804 268,964 246,326 175,372 55,565 32,455 61,264 156,654 540,602

Securities held outright1 4,233,335 103,993 2,409,052 114,944 126,781 258,715 236,936 168,677 53,428 31,211 58,917 150,684 519,997

U.S. Treasury securities 2,461,413 60,465 1,400,709 66,833 73,715 150,426 137,763 98,075 31,065 18,147 34,256 87,613 302,345

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

Notes and bonds3 2,461,413 60,465 1,400,709 66,833 73,715 150,426 137,763 98,075 31,065 18,147 34,256 87,613 302,345

Federal agency debt securities2 27,096 666 15,419 736 811 1,656 1,517 1,080 342 200 377 964 3,328

Mortgage-backed securities4 1,744,826 42,862 992,923 47,376 52,255 106,633 97,656 69,522 22,021 12,864 24,283 62,107 214,324

Unamortized premiums on securities 

held outright5 183,791 4,515 104,590 4,990 5,504 11,232 10,287 7,323 2,320 1,355 2,558 6,542 22,576

Unamortized discounts on securities 

held outright5 -16,082 -395 -9,152 -437 -482 -983 -900 -641 -203 -119 -224 -572 -1,975

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

Loans 70 9 0 0 0 0 4 13 20 8 13 0 4

Net portfolio holdings of Maiden

Lane LLC7 1,714 0 1,714 0 0 0 0 0 0 0 0 0 0

Items in process of collection 182 0 0 0 0 0 181 0 0 0 0 0 0

Bank premises 2,222 122 432 74 106 208 205 202 117 91 241 226 198

Central bank liquidity swaps8 0 0 0 0 0 0 0 0 0 0 0 0 0

Foreign currency denominated

assets9 20,772 918 6,855 1,143 1,582 4,632 1,153 557 213 89 207 263 3,160

Other assets10 30,557 790 16,870 837 918 2,035 1,724 1,230 468 253 476 1,193 3,764

Interdistrict settlement account 0 - 22,599 + 74,570 - 3,288 - 13,131 - 32,116 + 5,345 + 1,270 - 388 - 152 - 4,487 + 4,689 - 9,714

Total assets 4,474,665 87,955 2,610,415 118,962 122,236 245,193 257,309 180,086 56,506 33,076 58,299 164,367 540,262

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 27, 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 1,571,140 49,032 500,758 49,415 81,650 108,448 223,086 105,411 50,706 27,091 39,922 130,611 205,011

Less: Notes held by F.R. Banks 168,538 5,174 57,159 5,768 8,859 11,818 22,521 9,918 4,842 2,386 4,808 12,925 22,359

Federal Reserve notes, net 1,402,602 43,858 443,599 43,647 72,791 96,630 200,564 95,493 45,864 24,705 35,114 117,686 182,651

Reverse repurchase agreements11 267,113 6,562 152,005 7,253 8,000 16,324 14,950 10,643 3,371 1,969 3,718 9,508 32,811

Deposits 2,757,987 35,609 1,998,757 65,682 38,200 122,844 39,122 72,154 6,718 5,309 18,935 36,408 318,250

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 2,353,257 35,604 1,601,468 65,679 38,197 122,582 39,113 65,018 6,710 5,309 18,934 36,403 318,239

U.S. Treasury, General Account 372,499 0 372,499 0 0 0 0 0 0 0 0 0 0

Foreign official 5,174 2 5,147 2 3 9 2 1 0 0 0 1 6

Other12 27,056 3 19,643 0 0 252 7 7,135 7 0 1 4 5

Deferred availability cash items 842 0 0 0 0 0 66 0 0 776 0 0 0

Earnings remittances due to the U.S.

Treasury13 1,430 36 855 33 38 58 85 53 12 11 20 58 171

Other liabilities and accrued

dividends 4,654 144 2,078 193 194 533 311 257 125 135 116 198 370

Total liabilities 4,434,628 86,208 2,597,294 116,807 119,222 236,389 255,099 178,599 56,090 32,905 57,903 163,857 534,253

Capital

Capital paid in 30,038 1,305 9,822 1,604 2,252 6,573 1,654 1,219 313 128 296 383 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 4,474,665 87,955 2,610,415 118,962 122,236 245,193 257,309 180,086 56,506 33,076 58,299 164,367 540,262

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 27, 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 27, 2016

Federal Reserve notes outstanding 1,571,140

Less: Notes held by F.R. Banks not subject to collateralization 168,538

Federal Reserve notes to be collateralized 1,402,602

Collateral held against Federal Reserve notes 1,402,602

Gold certificate account 11,037

Special drawing rights certificate account 5,200

U.S. Treasury, agency debt, and mortgage-backed securities pledged1,2 1,386,365

Other assets pledged 0

Memo:

Total U.S. Treasury, agency debt, and mortgage-backed securities1,2 4,233,335

Less: Face value of securities under reverse repurchase agreements 250,469

U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 3,982,866

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.