FEDERAL RESERVE statistical release

H.4.1

Factors Affecting Reserve Balances of Depository Institutions and

Condition Statement of Federal Reserve Banks February 18, 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

Feb 17, 2016 Feb 10, 2016 Feb 18, 2015

Wednesday

Feb 17, 2016

Reserve Bank credit 4,459,074 + 12,594 - 14,790 4,444,723

Securities held outright1 4,251,273 + 14,566 + 1,367 4,249,169

U.S. Treasury securities 2,461,109 - 100 + 731 2,461,080

Bills2 0 0 0 0

Notes and bonds, nominal2 2,346,639 0 - 72 2,346,639

Notes and bonds, inflation-indexed2 98,534 0 + 65 98,534

Inflation compensation3 15,936 - 101 + 738 15,907

Federal agency debt securities2 31,318 0 - 5,559 31,318

Mortgage-backed securities4 1,758,846 + 14,666 + 6,195 1,756,771

Unamortized premiums on securities held outright5 187,632 + 186 - 17,795 187,468

Unamortized discounts on securities held outright5 -16,361 + 31 + 1,811 -16,365

Repurchase agreements6 0 0 0 0

Loans 51 + 29 + 34 73

Primary credit 40 + 28 + 30 63

Secondary credit 0 0 - 1 0

Seasonal credit 10 + 1 + 4 10

Other credit extensions 0 0 0 0

Net portfolio holdings of Maiden Lane LLC7 1,722 0 + 36 1,721

Float -84 + 3 + 332 -123

Central bank liquidity swaps8 98 + 7 + 98 98

Other Federal Reserve assets9 34,743 - 2,228 - 673 22,681

Foreign currency denominated assets10 20,531 + 257 + 239 20,360

Gold stock 11,041 0 0 11,041

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

Treasury currency outstanding11 47,665 + 14 + 1,140 47,665

Total factors supplying reserve funds 4,543,511 + 12,865 - 13,411 4,528,989

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

Feb 17, 2016 Feb 10, 2016 Feb 18, 2015

Wednesday

Feb 17, 2016

Currency in circulation11 1,424,336 + 7,545 + 77,751 1,428,074

Reverse repurchase agreements12 289,733 + 4,810 + 45,693 298,746

Foreign official and international accounts 250,841 + 14,459 + 124,259 246,648

Others 38,891 - 9,650 - 78,567 52,098

Treasury cash holdings 242 - 6 + 34 245

Deposits with F.R. Banks, other than reserve balances 302,786 - 36,886 - 140,446 265,795

Term deposits held by depository institutions 0 0 - 296,921 0

U.S. Treasury, General Account 266,760 - 50,543 + 147,924 242,350

Foreign official 5,243 - 26 + 24 5,238

Other13 30,784 + 13,684 + 8,528 18,207

Other liabilities and capital14 48,053 + 867 - 17,385 46,109

Total factors, other than reserve balances,

absorbing reserve funds 2,065,150 - 23,670 - 34,353 2,038,968

Reserve balances with Federal Reserve Banks 2,478,361 + 36,535 + 20,942 2,490,021

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

Feb 17, 2016 Feb 10, 2016 Feb 18, 2015

Wednesday

Feb 17, 2016

Securities held in custody for foreign official and international

accounts 3,255,219 - 11,982 - 7,564 3,258,007

Marketable U.S. Treasury securities1 2,943,108 - 12,290 + 10,090 2,946,617

Federal agency debt and mortgage-backed securities2 263,651 - 48 - 23,190 263,017

Other securities3 48,459 + 356 + 5,535 48,373

Securities lent to dealers 13,080 + 307 + 988 13,304

Overnight facility4 13,080 + 307 + 988 13,304

U.S. Treasury securities 13,029 + 302 + 1,368 13,227

Federal agency debt securities 51 + 5 - 380 77

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, February 17, 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 73 0 0 0 0 ... 73

U.S. Treasury securities1

Holdings 31,839 65,374 129,663 1,141,973 455,956 636,276 2,461,080

Weekly changes + 26,971 - 17,818 - 6,868 + 23,756 - 29,060 + 2,925 - 94

Federal agency debt securities2

Holdings 0 4,222 13,767 10,982 0 2,347 31,318

Weekly changes 0 0 + 2,851 - 2,851 0 0 0

Mortgage-backed securities3

Holdings 0 0 0 716 9,223 1,746,832 1,756,771

Weekly changes 0 0 0 + 17 + 320 + 12,254 + 12,591

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

Central bank liquidity swaps5 98 0 0 0 0 0 98

Reverse repurchase agreements4 298,746 0 ... ... ... ... 298,746

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 Feb 17, 2016

Mortgage-backed securities held outright1 1,756,771

Commitments to buy mortgage-backed securities2 23,876

Commitments to sell mortgage-backed securities2 100

Cash and cash equivalents3 0

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

2. Current face value. Generally settle within 180 days and include commitments associated with outright transactions, dollar rolls, and coupon swaps.

3. This amount is included in other Federal Reserve assets in table 1 and in other assets in table 5 and table 6.

4. Information on Principal Accounts of Maiden Lane LLC

Millions of dollars

Wednesday Account name Feb 17, 2016

Net portfolio holdings of Maiden Lane LLC1 1,721

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

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

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

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

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

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

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

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

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

table 5 and table 6.

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

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

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

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

5. Consolidated Statement of Condition of All Federal Reserve Banks

Millions of dollars

Change since

Assets, liabilities, and capital Wednesday Wednesday Eliminations from

consolidation

Wednesday

Feb 17, 2016 Feb 10, 2016 Feb 18, 2015

Assets

Gold certificate account 11,037 0 0

Special drawing rights certificate account 5,200 0 0

Coin 1,995 - 11 + 64

Securities, unamortized premiums and discounts,

repurchase agreements, and loans 4,420,345 + 12,723 - 12,952

Securities held outright1 4,249,169 + 12,497 + 2,937

U.S. Treasury securities 2,461,080 - 94 + 752

Bills2 0 0 0

Notes and bonds, nominal2 2,346,639 0 - 72

Notes and bonds, inflation-indexed2 98,534 0 + 65

Inflation compensation3 15,907 - 95 + 759

Federal agency debt securities2 31,318 0 - 5,559

Mortgage-backed securities4 1,756,771 + 12,591 + 7,744

Unamortized premiums on securities held outright5 187,468 + 149 - 17,750

Unamortized discounts on securities held outright5 -16,365 + 15 + 1,794

Repurchase agreements6 0 0 0

Loans 73 + 62 + 67

Net portfolio holdings of Maiden Lane LLC7 1,721 - 1 + 35

Items in process of collection (0) 191 + 19 + 7

Bank premises 2,231 0 - 23

Central bank liquidity swaps8 98 + 7 + 98

Foreign currency denominated assets9 20,360 - 98 + 153

Other assets10 20,450 - 15,291 - 606

Total assets (0) 4,483,629 - 2,649 - 13,222

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

Feb 17, 2016 Feb 10, 2016 Feb 18, 2015

Liabilities

Federal Reserve notes, net of F.R. Bank holdings 1,382,645 + 8,719 + 78,459

Reverse repurchase agreements11 298,746 + 16,374 + 1,692

Deposits (0) 2,755,816 - 27,229 - 75,018

Term deposits held by depository institutions 0 0 - 296,921

Other deposits held by depository institutions 2,490,021 + 6,881 + 44,120

U.S. Treasury, General Account 242,350 - 33,811 + 169,253

Foreign official 5,238 + 1 + 26

Other12 (0) 18,207 - 300 + 8,504

Deferred availability cash items (0) 314 - 144 - 551

Other liabilities and accrued dividends13 6,590 - 375 - 79

Total liabilities (0) 4,444,110 - 2,656 + 4,502

Capital accounts

Capital paid in 29,519 + 7 + 897

Surplus 10,000 0 - 18,622

Other capital accounts 0 0 0

Total capital 39,519 + 7 - 17,724

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, February 17, 2016

Millions of dollars

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

Assets

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

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

Coin 1,995 53 81 135 144 309 198 290 31 59 157 202 336

Securities, unamortized premiums and

discounts, repurchase agreements,

and loans 4,420,345 112,052 2,653,543 109,939 106,274 240,081 248,915 164,238 46,109 26,887 57,422 142,392 512,494

Securities held outright1 4,249,169 107,714 2,550,827 105,684 102,160 230,788 239,280 157,876 44,312 25,842 55,199 136,880 492,608

U.S. Treasury securities 2,461,080 62,387 1,477,416 61,211 59,170 133,670 138,589 91,440 25,665 14,967 31,971 79,279 285,314

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

Notes and bonds3 2,461,080 62,387 1,477,416 61,211 59,170 133,670 138,589 91,440 25,665 14,967 31,971 79,279 285,314

Federal agency debt securities2 31,318 794 18,801 779 753 1,701 1,764 1,164 327 190 407 1,009 3,631

Mortgage-backed securities4 1,756,771 44,533 1,054,611 43,694 42,237 95,417 98,927 65,272 18,320 10,684 22,821 56,591 203,663

Unamortized premiums on securities 

held outright5 187,468 4,752 112,539 4,663 4,507 10,182 10,557 6,965 1,955 1,140 2,435 6,039 21,733

Unamortized discounts on securities 

held outright5 -16,365 -415 -9,824 -407 -393 -889 -922 -608 -171 -100 -213 -527 -1,897

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

Loans 73 0 0 0 0 0 0 5 13 5 0 0 50

Net portfolio holdings of Maiden

Lane LLC7 1,721 0 1,721 0 0 0 0 0 0 0 0 0 0

Items in process of collection 191 0 0 0 0 0 190 0 0 0 0 0 0

Bank premises 2,231 124 435 75 105 211 206 203 118 91 240 226 198

Central bank liquidity swaps8 98 4 32 5 8 22 6 3 1 0 1 1 14

Foreign currency denominated

assets9 20,360 923 6,564 1,138 1,587 4,672 1,158 547 190 85 214 293 2,989

Other assets10 20,450 561 11,725 520 507 1,300 1,161 768 312 150 320 743 2,382

Interdistrict settlement account 0 - 27,721 - 147,824 + 14,027 + 12,618 + 10,712 + 11,869 + 3,263 + 13,541 + 5,628 + 4,362 + 19,473 + 80,051

Total assets 4,483,629 86,539 2,531,804 126,389 121,985 258,502 265,958 170,470 60,750 33,163 63,157 164,503 600,409

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, February 17, 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 1,553,702 49,509 497,438 49,397 82,344 105,940 221,645 102,789 51,342 27,253 40,419 127,230 198,397

Less: Notes held by F.R. Banks 171,057 5,879 58,698 6,224 8,946 11,384 21,145 10,458 4,157 2,747 5,065 12,799 23,554

Federal Reserve notes, net 1,382,645 43,629 438,739 43,173 73,398 94,556 200,500 92,331 47,185 24,507 35,354 114,430 174,842

Reverse repurchase agreements11 298,746 7,573 179,341 7,430 7,183 16,226 16,823 11,100 3,115 1,817 3,881 9,624 34,634

Deposits 2,755,816 33,392 1,897,302 73,381 38,173 138,340 45,844 65,670 9,895 6,403 23,390 39,689 384,337

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 2,490,021 33,384 1,639,871 73,379 38,170 138,130 45,835 57,561 9,887 6,403 23,388 39,687 384,326

U.S. Treasury, General Account 242,350 0 242,350 0 0 0 0 0 0 0 0 0 0

Foreign official 5,238 2 5,211 2 3 9 2 1 0 0 0 1 6

Other12 18,207 6 9,870 0 0 201 7 8,108 8 0 1 1 5

Deferred availability cash items 314 0 0 0 0 0 182 0 0 132 0 0 0

Earnings remittances due to the U.S.

Treasury13 1,517 34 940 33 31 59 91 58 16 8 20 54 172

Other liabilities and accrued

dividends 5,073 164 2,447 198 191 510 323 250 128 127 117 206 411

Total liabilities 4,444,110 84,792 2,518,770 124,215 118,975 249,691 263,763 169,409 60,340 32,994 62,762 164,003 594,397

Capital

Capital paid in 29,519 1,305 9,735 1,624 2,248 6,581 1,639 792 308 127 296 374 4,491

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 4,483,629 86,539 2,531,804 126,389 121,985 258,502 265,958 170,470 60,750 33,163 63,157 164,503 600,409

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, February 17, 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 Feb 17, 2016

Federal Reserve notes outstanding 1,553,702

Less: Notes held by F.R. Banks not subject to collateralization 171,057

Federal Reserve notes to be collateralized 1,382,645

Collateral held against Federal Reserve notes 1,382,645

Gold certificate account 11,037

Special drawing rights certificate account 5,200

U.S. Treasury, agency debt, and mortgage-backed securities pledged1,2 1,366,408

Other assets pledged 0

Memo:

Total U.S. Treasury, agency debt, and mortgage-backed securities1,2 4,249,169

Less: Face value of securities under reverse repurchase agreements 284,592

U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 3,964,578

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.