FEDERAL RESERVE statistical release

H.4.1

Factors Affecting Reserve Balances of Depository Institutions and

Condition Statement of Federal Reserve Banks April 11, 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 10, 2019 Apr 3, 2019 Apr 11, 2018

Wednesday

Apr 10, 2019

Reserve Bank credit 3,896,903 - 11,969 - 445,274 3,897,923

Securities held outright1 3,748,490 - 12,631 - 423,294 3,748,702

U.S. Treasury securities 2,153,394 - 12,658 - 259,631 2,153,443

Bills2 0 0 0 0

Notes and bonds, nominal2 2,016,632 - 12,788 - 265,253 2,016,632

Notes and bonds, inflation-indexed2 115,154 0 + 4,020 115,154

Inflation compensation3 21,608 + 130 + 1,603 21,658

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

Mortgage-backed securities4 1,592,750 + 27 - 161,618 1,592,912

Unamortized premiums on securities held outright5 135,345 - 209 - 18,792 135,283

Unamortized discounts on securities held outright5 -13,076 + 28 + 944 -13,065

Repurchase agreements6 0 0 0 0

Loans 13 - 45 - 17 21

Primary credit 4 - 47 + 3 10

Secondary credit 0 0 0 0

Seasonal credit 9 + 2 - 20 11

Other credit extensions 0 0 0 0

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

Float -179 + 400 + 16 -187

Central bank liquidity swaps8 55 - 1,310 - 24 55

Other Federal Reserve assets9 26,254 + 1,798 - 2,399 27,114

Foreign currency denominated assets10 20,605 - 38 - 1,524 20,675

Gold stock 11,041 0 0 11,041

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

Treasury currency outstanding11 49,900 + 14 + 376 49,900

Total factors supplying reserve funds 3,983,649 - 11,993 - 446,423 3,984,738

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 10, 2019 Apr 3, 2019 Apr 11, 2018

Wednesday

Apr 10, 2019

Currency in circulation11 1,726,720 + 1,954 + 86,776 1,728,355

Reverse repurchase agreements12 253,674 + 3,367 + 5,693 256,374

Foreign official and international accounts 253,090 + 3,176 + 9,360 253,643

Others 584 + 191 - 3,666 2,731

Treasury cash holdings 336 0 + 17 331

Deposits with F.R. Banks, other than reserve balances 322,992 - 52,462 - 53,242 307,584

Term deposits held by depository institutions 0 0 0 0

U.S. Treasury, General Account 262,617 - 47,571 - 31,466 245,664

Foreign official 5,243 0 - 11 5,244

Other13 55,132 - 4,892 - 21,765 56,676

Other liabilities and capital14 45,336 + 956 - 294 45,533

Total factors, other than reserve balances,

absorbing reserve funds 2,349,058 - 46,186 + 38,951 2,338,178

Reserve balances with Federal Reserve Banks 1,634,591 + 34,193 - 485,374 1,646,560

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 10, 2019 Apr 3, 2019 Apr 11, 2018

Wednesday

Apr 10, 2019

Securities held in custody for foreign official and international

accounts 3,471,239 + 11,464 + 21,022 3,474,882

Marketable U.S. Treasury securities1 3,073,672 + 11,486 - 23,095 3,069,936

Federal agency debt and mortgage-backed securities2 326,823 + 1,104 + 52,902 333,713

Other securities3 70,743 - 1,127 - 8,786 71,233

Securities lent to dealers 26,552 - 2,399 + 6,078 23,870

Overnight facility4 26,552 - 2,399 + 6,078 23,870

U.S. Treasury securities 26,552 - 2,399 + 6,078 23,870

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 10, 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 10 11 0 0 0 ... 21

U.S. Treasury securities1

Holdings 180 111,741 265,651 908,927 249,207 617,738 2,153,443

Weekly changes 0 0 + 1 + 19 + 50 + 65 + 135

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 74,011 1,518,628 1,592,912

Weekly changes 0 0 0 0 + 1,364 - 1,176 + 189

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

Central bank liquidity swaps5 55 0 0 0 0 0 55

Reverse repurchase agreements4 256,374 0 ... ... ... ... 256,374

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 10, 2019

Mortgage-backed securities held outright1 1,592,912

Commitments to buy mortgage-backed securities2 229

Commitments to sell mortgage-backed securities2 10

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 10, 2019 Apr 3, 2019 Apr 11, 2018

Assets

Gold certificate account 11,037 0 0

Special drawing rights certificate account 5,200 0 0

Coin 1,708 - 11 - 115

Securities, unamortized premiums and discounts,

repurchase agreements, and loans 3,870,941 + 177 - 440,951

Securities held outright1 3,748,702 + 324 - 423,118

U.S. Treasury securities 2,153,443 + 135 - 259,617

Bills2 0 0 0

Notes and bonds, nominal2 2,016,632 0 - 265,253

Notes and bonds, inflation-indexed2 115,154 0 + 4,034

Inflation compensation3 21,658 + 135 + 1,603

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

Mortgage-backed securities4 1,592,912 + 189 - 161,457

Unamortized premiums on securities held outright5 135,283 - 185 - 18,768

Unamortized discounts on securities held outright5 -13,065 + 28 + 944

Repurchase agreements6 0 0 0

Loans 21 + 10 - 9

Net portfolio holdings of Maiden Lane LLC7 0 0 - 1,709

Items in process of collection (0) 55 + 9 - 23

Bank premises 2,202 + 3 + 3

Central bank liquidity swaps8 55 - 1,310 - 24

Foreign currency denominated assets9 20,675 + 69 - 1,573

Other assets10 24,912 + 2,340 - 2,507

Total assets (0) 3,936,784 + 1,275 - 446,900

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 10, 2019 Apr 3, 2019 Apr 11, 2018

Liabilities

Federal Reserve notes, net of F.R. Bank holdings 1,680,490 + 858 + 87,125

Reverse repurchase agreements11 256,374 + 7,009 + 11,170

Deposits (0) 1,954,145 - 7,710 - 544,865

Term deposits held by depository institutions 0 0 0

Other deposits held by depository institutions 1,646,560 + 15,573 - 482,284

U.S. Treasury, General Account 245,664 - 24,806 - 42,140

Foreign official 5,244 + 1 - 9

Other12 (0) 56,676 + 1,521 - 20,434

Deferred availability cash items (0) 242 - 295 - 15

Other liabilities and accrued dividends13 6,191 + 1,409 - 415

Total liabilities (0) 3,897,442 + 1,272 - 447,000

Capital accounts

Capital paid in 32,517 + 3 + 775

Surplus 6,825 0 - 675

Other capital accounts 0 0 0

Total capital 39,342 + 3 + 100

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 10, 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 1,708 46 44 151 113 222 173 289 29 48 112 192 289

Securities, unamortized premiums and

discounts, repurchase agreements,

and loans 3,870,941 73,930 2,137,048 97,733 109,742 229,066 232,361 207,327 51,535 32,307 60,942 160,062 478,887

Securities held outright1 3,748,702 71,596 2,069,574 94,647 106,277 221,834 225,022 200,772 49,908 31,283 59,013 155,008 463,767

U.S. Treasury securities 2,153,443 41,128 1,188,868 54,370 61,051 127,432 129,264 115,334 28,669 17,970 33,900 89,044 266,411

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

Notes and bonds3 2,153,443 41,128 1,188,868 54,370 61,051 127,432 129,264 115,334 28,669 17,970 33,900 89,044 266,411

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

Mortgage-backed securities4 1,592,912 30,423 879,411 40,218 45,160 94,262 95,617 85,313 21,207 13,293 25,076 65,867 197,066

Unamortized premiums on securities 

held outright5 135,283 2,584 74,687 3,416 3,835 8,006 8,121 7,245 1,801 1,129 2,130 5,594 16,736

Unamortized discounts on securities 

held outright5 -13,065 -250 -7,213 -330 -370 -773 -784 -700 -174 -109 -206 -540 -1,616

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

Loans 21 0 0 0 0 0 2 9 0 4 5 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 55 0 0 0 0 0 54 0 0 1 0 0 0

Bank premises 2,202 108 458 81 118 193 208 192 105 95 230 222 192

Central bank liquidity swaps8 55 2 17 3 4 12 3 2 1 0 1 1 8

Foreign currency denominated

assets9 20,675 890 6,562 1,194 1,650 4,408 1,202 863 315 98 200 256 3,035

Other assets10 24,912 501 13,283 627 719 1,701 1,498 1,308 404 279 458 1,079 3,055

Interdistrict settlement account 0 + 10,455 - 211,743 + 2,272 + 15,535 + 13,222 + 54,255 + 5,464 + 12,372 + 5,136 + 3,112 + 31,738 + 58,182

Total assets 3,936,784 86,494 1,951,114 102,621 128,662 250,009 291,900 216,608 65,244 38,253 65,516 194,737 545,627

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 10, 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 1,871,313 57,456 620,026 54,303 89,491 126,289 259,681 120,741 55,585 31,238 49,480 156,036 250,987

Less: Notes held by F.R. Banks 190,823 6,013 49,387 7,432 9,411 14,158 31,155 12,712 5,235 3,041 6,662 17,795 27,821

Federal Reserve notes, net 1,680,490 51,443 570,639 46,870 80,080 112,131 228,526 108,029 50,350 28,197 42,819 138,241 223,166

Reverse repurchase agreements11 256,374 4,896 141,538 6,473 7,268 15,171 15,389 13,731 3,413 2,139 4,036 10,601 31,717

Deposits 1,954,145 28,258 1,223,719 46,777 37,933 113,711 45,246 92,833 10,710 7,386 18,103 45,118 284,351

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 1,646,560 28,247 955,618 46,774 37,906 113,293 45,211 54,054 10,702 7,334 18,087 44,990 284,345

U.S. Treasury, General Account 245,664 0 245,664 0 0 0 0 0 0 0 0 0 0

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

Other12 56,676 10 17,220 1 23 410 33 38,778 7 52 16 127 1

Deferred availability cash items 242 0 0 0 0 0 62 0 0 180 0 0 0

Earnings remittances due to the U.S.

Treasury13 1,307 25 747 29 42 68 99 64 16 11 20 59 127

Other liabilities and accrued

dividends 4,884 183 1,983 209 206 546 300 312 139 150 146 232 477

Total liabilities 3,897,442 84,806 1,938,626 100,358 125,529 241,628 289,623 214,969 64,628 38,063 65,124 194,250 539,838

Capital

Capital paid in 32,517 1,394 10,323 1,869 2,587 6,926 1,880 1,354 512 157 326 403 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 3,936,784 86,494 1,951,114 102,621 128,662 250,009 291,900 216,608 65,244 38,253 65,516 194,737 545,627

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 10, 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 10, 2019

Federal Reserve notes outstanding 1,871,313

Less: Notes held by F.R. Banks not subject to collateralization 190,823

Federal Reserve notes to be collateralized 1,680,490

Collateral held against Federal Reserve notes 1,680,490

Gold certificate account 11,037

Special drawing rights certificate account 5,200

U.S. Treasury, agency debt, and mortgage-backed securities pledged1,2 1,664,253

Other assets pledged 0

Memo:

Total U.S. Treasury, agency debt, and mortgage-backed securities1,2 3,748,702

Less: Face value of securities under reverse repurchase agreements 255,291

U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 3,493,411

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.