FEDERAL RESERVE statistical release

H.4.1

Factors Affecting Reserve Balances of Depository Institutions and

Condition Statement of Federal Reserve Banks June 27, 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 26, 2019 Jun 19, 2019 Jun 27, 2018

Wednesday

Jun 26, 2019

Reserve Bank credit 3,795,573 - 13,410 - 476,947 3,787,496

Securities held outright1 3,652,496 - 12,563 - 455,244 3,645,329

U.S. Treasury securities 2,110,193 + 140 - 268,010 2,110,256

Bills2 5 - 32 + 5 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 23,401 + 172 + 2,218 23,465

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

Mortgage-backed securities4 1,539,956 - 12,703 - 187,171 1,532,726

Unamortized premiums on securities held outright5 131,318 - 651 - 18,681 131,026

Unamortized discounts on securities held outright5 -12,917 + 30 + 1,019 -12,905

Repurchase agreements6 0 0 0 0

Loans 100 + 28 - 66 184

Primary credit 22 + 3 + 15 102

Secondary credit 0 0 0 0

Seasonal credit 78 + 25 - 81 82

Other credit extensions 0 0 0 0

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

Float -164 - 26 + 58 -271

Central bank liquidity swaps8 18 + 1 - 72 18

Other Federal Reserve assets9 24,722 - 230 - 2,249 24,115

Foreign currency denominated assets10 21,031 + 215 - 142 21,060

Gold stock 11,041 0 0 11,041

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

Treasury currency outstanding11 50,009 + 14 + 400 50,009

Total factors supplying reserve funds 3,882,854 - 13,182 - 476,689 3,874,807

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 26, 2019 Jun 19, 2019 Jun 27, 2018

Wednesday

Jun 26, 2019

Currency in circulation11 1,738,299 + 1,265 + 76,135 1,742,150

Reverse repurchase agreements12 278,410 + 9,829 + 25,891 272,189

Foreign official and international accounts 261,719 + 175 + 16,265 264,405

Others 16,691 + 9,654 + 9,626 7,784

Treasury cash holdings 195 - 16 - 18 184

Deposits with F.R. Banks, other than reserve balances 316,275 + 39,814 - 143,024 307,162

Term deposits held by depository institutions 0 0 0 0

U.S. Treasury, General Account 248,302 + 49,904 - 125,638 240,909

Foreign official 5,253 + 9 - 3 5,249

Other13 62,720 - 10,098 - 17,383 61,004

Other liabilities and capital14 44,939 - 855 + 438 44,672

Total factors, other than reserve balances,

absorbing reserve funds 2,378,118 + 50,037 - 40,578 2,366,356

Reserve balances with Federal Reserve Banks 1,504,737 - 63,218 - 436,110 1,508,451

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 26, 2019 Jun 19, 2019 Jun 27, 2018

Wednesday

Jun 26, 2019

Securities held in custody for foreign official and international

accounts 3,467,346 - 10,088 + 67,697 3,457,844

Marketable U.S. Treasury securities1 3,043,531 - 12,850 + 5,116 3,034,599

Federal agency debt and mortgage-backed securities2 346,222 + 2,089 + 57,121 345,417

Other securities3 77,593 + 673 + 5,461 77,827

Securities lent to dealers 28,771 + 1,709 + 7,834 29,864

Overnight facility4 28,771 + 1,709 + 7,834 29,864

U.S. Treasury securities 28,771 + 1,709 + 7,834 29,864

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 26, 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 179 6 0 0 0 ... 184

U.S. Treasury securities1

Holdings 21,465 90,993 246,845 870,787 267,937 612,229 2,110,256

Weekly changes + 2 - 2 + 2 + 25 + 80 + 66 + 172

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 7 292 70,903 1,461,524 1,532,726

Weekly changes 0 0 - 1 - 9 - 1,066 - 14,993 - 16,070

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

Central bank liquidity swaps5 18 0 0 0 0 0 18

Reverse repurchase agreements4 272,189 0 ... ... ... ... 272,189

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 26, 2019

Mortgage-backed securities held outright1 1,532,726

Commitments to buy mortgage-backed securities2 1,574

Commitments to sell mortgage-backed securities2 59

Cash and cash equivalents3 2

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 26, 2019 Jun 19, 2019 Jun 27, 2018

Assets

Gold certificate account 11,037 0 0

Special drawing rights certificate account 5,200 0 0

Coin 1,684 + 14 - 89

Securities, unamortized premiums and discounts,

repurchase agreements, and loans 3,763,634 - 16,591 - 474,285

Securities held outright1 3,645,329 - 15,898 - 456,601

U.S. Treasury securities 2,110,256 + 172 - 267,994

Bills2 5 0 + 5

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

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

Inflation compensation3 23,465 + 172 + 2,236

Federal agency debt securities2 2,347 0 - 62

Mortgage-backed securities4 1,532,726 - 16,070 - 188,545

Unamortized premiums on securities held outright5 131,026 - 754 - 18,707

Unamortized discounts on securities held outright5 -12,905 + 31 + 1,019

Repurchase agreements6 0 0 0

Loans 184 + 30 + 3

Net portfolio holdings of Maiden Lane LLC7 0 0 - 1,710

Items in process of collection (0) 68 + 15 - 121

Bank premises 2,191 - 1 + 3

Central bank liquidity swaps8 18 + 1 - 72

Foreign currency denominated assets9 21,060 + 249 - 33

Other assets10 21,924 - 886 - 2,367

Total assets (0) 3,826,817 - 17,199 - 478,674

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 26, 2019 Jun 19, 2019 Jun 27, 2018

Liabilities

Federal Reserve notes, net of F.R. Bank holdings 1,694,004 + 4,348 + 76,415

Reverse repurchase agreements11 272,189 - 12,506 + 11,352

Deposits (0) 1,815,613 - 8,591 - 566,362

Term deposits held by depository institutions 0 0 0

Other deposits held by depository institutions 1,508,451 + 6,927 - 432,465

U.S. Treasury, General Account 240,909 - 17,732 - 121,266

Foreign official 5,249 + 5 - 7

Other12 (0) 61,004 + 2,209 - 12,625

Deferred availability cash items (0) 339 + 174 - 419

Other liabilities and accrued dividends13 5,452 - 626 + 21

Total liabilities (0) 3,787,597 - 17,201 - 478,992

Capital accounts

Capital paid in 32,395 + 3 + 319

Surplus 6,825 0 0

Other capital accounts 0 0 0

Total capital 39,220 + 3 + 319

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 26, 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 1,684 39 44 145 111 220 187 279 29 47 106 189 289

Securities, unamortized premiums and

discounts, repurchase agreements,

and loans 3,763,634 78,077 2,053,228 91,140 110,109 230,410 257,324 197,563 54,094 32,621 55,806 163,415 439,847

Securities held outright1 3,645,329 75,627 1,988,785 88,277 106,653 223,081 249,242 191,348 52,393 31,544 54,054 158,285 426,040

U.S. Treasury securities 2,110,256 43,780 1,151,294 51,103 61,741 129,140 144,285 110,770 30,330 18,261 31,292 91,630 246,631

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

Notes and bonds3 2,110,251 43,780 1,151,291 51,103 61,741 129,140 144,284 110,770 30,330 18,260 31,292 91,630 246,631

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

Mortgage-backed securities4 1,532,726 31,798 836,211 37,117 44,844 93,797 104,797 80,455 22,029 13,263 22,728 66,553 179,134

Unamortized premiums on securities 

held outright5 131,026 2,718 71,484 3,173 3,833 8,018 8,959 6,878 1,883 1,134 1,943 5,689 15,313

Unamortized discounts on securities 

held outright5 -12,905 -268 -7,041 -313 -378 -790 -882 -677 -185 -112 -191 -560 -1,508

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

Loans 184 0 0 2 0 100 6 14 3 55 0 2 2

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 68 0 0 0 0 0 68 0 0 0 0 0 0

Bank premises 2,191 107 457 81 118 191 206 191 104 94 229 221 192

Central bank liquidity swaps8 18 1 6 1 1 4 1 1 0 0 0 0 3

Foreign currency denominated

assets9 21,060 907 6,684 1,217 1,681 4,490 1,225 879 321 100 204 261 3,092

Other assets10 21,924 474 11,514 530 650 1,539 1,487 1,126 366 237 399 1,059 2,543

Interdistrict settlement account 0 + 7,679 - 159,038 - 5,242 + 5,355 + 5,898 + 26,425 + 15,265 + 6,909 + 3,802 + 3,527 + 20,833 + 68,589

Total assets 3,826,817 87,830 1,918,420 88,407 118,793 243,918 289,137 216,439 62,301 37,178 60,716 187,150 516,527

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 26, 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 1,895,713 57,422 624,743 54,607 90,702 131,118 259,598 123,879 56,444 31,477 50,404 158,779 256,539

Less: Notes held by F.R. Banks 201,708 6,170 49,863 8,438 10,168 15,109 31,202 12,760 6,181 3,455 8,152 19,909 30,302

Federal Reserve notes, net 1,694,004 51,252 574,880 46,168 80,534 116,010 228,397 111,119 50,264 28,022 42,253 138,870 226,237

Reverse repurchase agreements11 272,189 5,647 148,498 6,591 7,964 16,657 18,610 14,288 3,912 2,355 4,036 11,819 31,811

Deposits 1,815,613 28,941 1,179,669 33,902 26,829 102,411 39,386 89,129 7,368 6,177 13,867 35,714 252,220

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 1,508,451 28,933 912,944 33,899 26,804 102,047 39,349 49,409 7,364 6,123 13,817 35,547 252,214

U.S. Treasury, General Account 240,909 0 240,909 0 0 0 0 0 0 0 0 0 0

Foreign official 5,249 2 5,222 2 3 9 2 2 1 0 0 0 6

Other12 61,004 7 20,594 1 21 355 35 39,719 4 54 49 167 0

Deferred availability cash items 339 0 0 0 0 0 59 0 0 281 0 0 0

Earnings remittances due to the U.S.

Treasury13 1,048 27 495 33 48 122 93 44 9 10 18 51 99

Other liabilities and accrued

dividends 4,404 179 1,680 186 207 549 308 286 133 145 148 208 375

Total liabilities 3,787,597 86,045 1,905,221 86,881 115,581 235,748 286,853 214,866 61,686 36,989 60,322 186,661 510,743

Capital

Capital paid in 32,395 1,491 11,033 1,132 2,667 6,714 1,887 1,288 512 157 328 404 4,782

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 3,826,817 87,830 1,918,420 88,407 118,793 243,918 289,137 216,439 62,301 37,178 60,716 187,150 516,527

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 26, 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 26, 2019

Federal Reserve notes outstanding 1,895,713

Less: Notes held by F.R. Banks not subject to collateralization 201,708

Federal Reserve notes to be collateralized 1,694,004

Collateral held against Federal Reserve notes 1,694,004

Gold certificate account 11,037

Special drawing rights certificate account 5,200

U.S. Treasury, agency debt, and mortgage-backed securities pledged1,2 1,677,767

Other assets pledged 0

Memo:

Total U.S. Treasury, agency debt, and mortgage-backed securities1,2 3,645,329

Less: Face value of securities under reverse repurchase agreements 265,236

U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 3,380,093

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.