FEDERAL RESERVE statistical release

H.4.1

Factors Affecting Reserve Balances of Depository Institutions and

Condition Statement of Federal Reserve Banks April 4, 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

Apr 3, 2019 Mar 27, 2019 Apr 4, 2018

Wednesday

Apr 3, 2019

Reserve Bank credit 3,908,872 - 12,447 - 442,941 3,896,410

Securities held outright1 3,761,121 - 13,476 - 417,466 3,748,378

U.S. Treasury securities 2,166,052 - 9,523 - 253,776 2,153,308

Bills2 0 0 0 0

Notes and bonds, nominal2 2,029,420 - 9,591 - 259,322 2,016,632

Notes and bonds, inflation-indexed2 115,154 0 + 3,934 115,154

Inflation compensation3 21,478 + 68 + 1,612 21,523

Federal agency debt securities2 2,347 - 53 - 2,044 2,347

Mortgage-backed securities4 1,592,723 - 3,900 - 161,645 1,592,723

Unamortized premiums on securities held outright5 135,554 - 350 - 18,839 135,468

Unamortized discounts on securities held outright5 -13,104 + 30 + 906 -13,093

Repurchase agreements6 0 0 0 0

Loans 58 + 43 + 29 11

Primary credit 51 + 43 + 41 3

Secondary credit 0 0 0 0

Seasonal credit 7 0 - 12 8

Other credit extensions 0 0 0 0

Net portfolio holdings of Maiden Lane LLC7 0 0 - 1,708 0

Float -579 - 403 - 47 -490

Central bank liquidity swaps8 1,365 + 1,299 - 3,646 1,365

Other Federal Reserve assets9 24,456 + 410 - 2,170 24,771

Foreign currency denominated assets10 20,643 - 122 - 1,626 20,606

Gold stock 11,041 0 0 11,041

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

Treasury currency outstanding11 49,909 + 14 + 392 49,909

Total factors supplying reserve funds 3,995,666 - 12,555 - 444,174 3,983,167

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 3, 2019 Mar 27, 2019 Apr 4, 2018

Wednesday

Apr 3, 2019

Currency in circulation11 1,724,790 + 2,962 + 87,071 1,727,490

Reverse repurchase agreements12 250,307 + 8,454 - 19,756 249,365

Foreign official and international accounts 249,914 + 10,393 + 938 249,349

Others 393 - 1,938 - 20,694 16

Treasury cash holdings 336 + 2 + 17 336

Deposits with F.R. Banks, other than reserve balances 375,454 - 1,023 - 17,600 330,868

Term deposits held by depository institutions 0 0 0 0

U.S. Treasury, General Account 310,188 - 680 + 6,272 270,470

Foreign official 5,243 0 - 12 5,243

Other13 60,024 - 342 - 23,859 55,155

Other liabilities and capital14 44,380 - 1,067 - 259 44,120

Total factors, other than reserve balances,

absorbing reserve funds 2,395,268 + 9,329 + 49,473 2,352,180

Reserve balances with Federal Reserve Banks 1,600,398 - 21,884 - 493,647 1,630,987

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

Apr 3, 2019 Mar 27, 2019 Apr 4, 2018

Wednesday

Apr 3, 2019

Securities held in custody for foreign official and international

accounts 3,459,775 - 10,322 + 21,938 3,463,341

Marketable U.S. Treasury securities1 3,062,186 - 9,735 - 21,954 3,067,283

Federal agency debt and mortgage-backed securities2 325,719 - 206 + 51,614 325,721

Other securities3 71,870 - 381 - 7,722 70,337

Securities lent to dealers 28,951 + 4,413 + 2,033 26,193

Overnight facility4 28,951 + 4,413 + 2,033 26,193

U.S. Treasury securities 28,951 + 4,413 + 2,033 26,193

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, April 3, 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 3 8 0 0 0 ... 11

U.S. Treasury securities1

Holdings 180 111,741 265,650 908,908 249,157 617,673 2,153,308

Weekly changes - 22,199 + 21,283 - 4,878 - 13,180 - 3,356 + 43 - 22,288

Federal agency debt securities2

Holdings 0 0 0 0 0 2,347 2,347

Weekly changes 0 0 0 0 0 0 0

Mortgage-backed securities3

Holdings 0 0 10 262 72,647 1,519,804 1,592,723

Weekly changes 0 0 + 3 + 62 - 65 + 1 0

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

Central bank liquidity swaps5 1,365 0 0 0 0 0 1,365

Reverse repurchase agreements4 249,365 0 ... ... ... ... 249,365

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 3, 2019

Mortgage-backed securities held outright1 1,592,723

Commitments to buy mortgage-backed securities2 387

Commitments to sell mortgage-backed securities2 20

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 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

Apr 3, 2019 Mar 27, 2019 Apr 4, 2018

Assets

Gold certificate account 11,037 0 0

Special drawing rights certificate account 5,200 0 0

Coin 1,719 - 10 - 103

Securities, unamortized premiums and discounts,

repurchase agreements, and loans 3,870,764 - 22,511 - 441,291

Securities held outright1 3,748,378 - 22,288 - 423,412

U.S. Treasury securities 2,153,308 - 22,288 - 259,723

Bills2 0 0 0

Notes and bonds, nominal2 2,016,632 - 22,379 - 265,253

Notes and bonds, inflation-indexed2 115,154 0 + 3,934

Inflation compensation3 21,523 + 92 + 1,597

Federal agency debt securities2 2,347 0 - 2,044

Mortgage-backed securities4 1,592,723 0 - 161,645

Unamortized premiums on securities held outright5 135,468 - 237 - 18,811

Unamortized discounts on securities held outright5 -13,093 + 29 + 945

Repurchase agreements6 0 0 0

Loans 11 - 16 - 13

Net portfolio holdings of Maiden Lane LLC7 0 0 - 1,708

Items in process of collection (0) 46 - 12 - 29

Bank premises 2,199 - 8 + 1

Central bank liquidity swaps8 1,365 + 1,299 - 3,646

Foreign currency denominated assets9 20,606 - 94 - 1,560

Other assets10 22,572 + 1,225 - 2,259

Total assets (0) 3,935,509 - 20,108 - 450,595

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

Apr 3, 2019 Mar 27, 2019 Apr 4, 2018

Liabilities

Federal Reserve notes, net of F.R. Bank holdings 1,679,632 + 3,713 + 86,463

Reverse repurchase agreements11 249,365 + 7,765 - 15,892

Deposits (0) 1,961,855 - 30,611 - 521,167

Term deposits held by depository institutions 0 0 0

Other deposits held by depository institutions 1,630,987 - 1,801 - 467,744

U.S. Treasury, General Account 270,470 - 25,123 - 30,134

Foreign official 5,243 0 - 11

Other12 (0) 55,155 - 3,687 - 23,279

Deferred availability cash items (0) 537 + 128 + 84

Other liabilities and accrued dividends13 4,782 - 1,097 - 224

Total liabilities (0) 3,896,170 - 20,102 - 450,738

Capital accounts

Capital paid in 32,514 - 6 + 818

Surplus 6,825 0 - 675

Other capital accounts 0 0 0

Total capital 39,339 - 6 + 143

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, April 3, 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 11,037 364 3,626 350 544 773 1,491 739 334 199 307 905 1,405

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

Coin 1,719 46 44 152 112 224 178 289 28 48 111 193 293

Securities, unamortized premiums and

discounts, repurchase agreements,

and loans 3,870,764 73,927 2,136,956 97,728 109,737 229,056 232,352 207,317 51,533 32,302 60,935 160,055 478,867

Securities held outright1 3,748,378 71,590 2,069,395 94,639 106,268 221,815 225,003 200,755 49,903 31,280 59,008 154,995 463,727

U.S. Treasury securities 2,153,308 41,126 1,188,793 54,367 61,047 127,424 129,256 115,327 28,668 17,969 33,898 89,039 266,395

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

Notes and bonds3 2,153,308 41,126 1,188,793 54,367 61,047 127,424 129,256 115,327 28,668 17,969 33,898 89,039 266,395

Federal agency debt securities2 2,347 45 1,296 59 67 139 141 126 31 20 37 97 290

Mortgage-backed securities4 1,592,723 30,419 879,306 40,213 45,154 94,251 95,606 85,303 21,204 13,291 25,073 65,859 197,042

Unamortized premiums on securities 

held outright5 135,468 2,587 74,789 3,420 3,841 8,016 8,132 7,255 1,804 1,130 2,133 5,602 16,759

Unamortized discounts on securities 

held outright5 -13,093 -250 -7,229 -331 -371 -775 -786 -701 -174 -109 -206 -541 -1,620

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

Loans 11 0 0 0 0 0 3 8 0 0 0 0 0

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 46 0 0 0 0 0 46 0 0 0 0 0 0

Bank premises 2,199 108 458 80 118 193 208 191 105 95 230 221 191

Central bank liquidity swaps8 1,365 59 433 79 109 291 79 57 21 6 13 17 200

Foreign currency denominated

assets9 20,606 887 6,541 1,190 1,645 4,393 1,198 860 314 98 199 255 3,025

Other assets10 22,572 457 12,006 569 654 1,567 1,359 1,186 376 251 424 954 2,769

Interdistrict settlement account 0 + 14,060 - 205,446 + 3,362 + 11,600 + 12,141 + 56,035 + 3,544 + 11,750 + 5,570 + 2,799 + 34,440 + 50,144

Total assets 3,935,509 90,105 1,956,436 103,721 124,756 249,051 293,600 214,608 64,611 38,660 65,171 197,323 537,468

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, April 3, 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 1,870,351 57,304 619,246 54,348 89,454 126,028 260,047 120,806 55,522 31,157 49,423 156,162 250,854

Less: Notes held by F.R. Banks 190,719 5,876 50,441 7,473 9,407 13,984 30,482 12,940 4,999 2,986 6,571 17,753 27,807

Federal Reserve notes, net 1,679,632 51,428 568,806 46,874 80,047 112,044 229,564 107,866 50,523 28,171 42,852 138,409 223,047

Reverse repurchase agreements11 249,365 4,763 137,669 6,296 7,070 14,756 14,969 13,355 3,320 2,081 3,926 10,311 30,850

Deposits 1,961,855 32,057 1,235,477 48,103 34,312 113,381 46,385 91,442 9,998 7,588 17,856 47,859 277,398

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 1,630,987 32,047 941,351 48,100 34,282 112,939 46,349 55,440 9,990 7,533 17,842 47,722 277,392

U.S. Treasury, General Account 270,470 0 270,470 0 0 0 0 0 0 0 0 0 0

Foreign official 5,243 2 5,216 2 3 9 2 2 1 0 0 0 6

Other12 55,155 8 18,440 1 26 433 33 36,001 7 54 14 137 0

Deferred availability cash items 537 0 0 0 0 0 56 0 0 481 0 0 0

Earnings remittances due to the U.S.

Treasury13 773 7 485 3 9 -1 74 44 23 9 16 52 53

Other liabilities and accrued

dividends 4,008 162 1,511 181 186 489 276 260 131 144 130 205 332

Total liabilities 3,896,170 88,417 1,943,947 101,458 121,623 240,670 291,323 212,968 63,995 38,473 64,780 196,835 531,680

Capital

Capital paid in 32,514 1,394 10,323 1,869 2,587 6,925 1,880 1,355 512 154 325 403 4,787

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 3,935,509 90,105 1,956,436 103,721 124,756 249,051 293,600 214,608 64,611 38,660 65,171 197,323 537,468

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, April 3, 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 Apr 3, 2019

Federal Reserve notes outstanding 1,870,351

Less: Notes held by F.R. Banks not subject to collateralization 190,719

Federal Reserve notes to be collateralized 1,679,632

Collateral held against Federal Reserve notes 1,679,632

Gold certificate account 11,037

Special drawing rights certificate account 5,200

U.S. Treasury, agency debt, and mortgage-backed securities pledged1,2 1,663,395

Other assets pledged 0

Memo:

Total U.S. Treasury, agency debt, and mortgage-backed securities1,2 3,748,378

Less: Face value of securities under reverse repurchase agreements 247,458

U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 3,500,920

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.