FEDERAL RESERVE statistical release

H.4.1

Factors Affecting Reserve Balances of Depository Institutions and

Condition Statement of Federal Reserve Banks October 3, 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

Oct 2, 2019 Sep 25, 2019 Oct 3, 2018

Wednesday

Oct 2, 2019

Reserve Bank credit 3,892,425 + 83,910 - 253,339 3,906,708

Securities held outright1 3,582,324 - 5,666 - 406,926 3,586,738

U.S. Treasury securities 2,112,718 + 5,313 - 192,348 2,117,130

Bills2 6,002 0 + 5,902 6,002

Notes and bonds, nominal2 1,963,674 + 4,726 - 203,782 1,967,364

Notes and bonds, inflation-indexed2 118,680 + 534 + 3,101 119,392

Inflation compensation3 24,363 + 54 + 2,432 24,372

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

Mortgage-backed securities4 1,467,258 - 10,980 - 214,517 1,467,260

Unamortized premiums on securities held outright5 127,088 - 478 - 17,716 127,155

Unamortized discounts on securities held outright5 -12,686 + 40 + 983 -12,646

Repurchase agreements6 171,800 + 89,550 + 171,800 181,050

Loans 98 + 3 - 229 114

Primary credit 9 + 5 - 66 31

Secondary credit 0 0 0 0

Seasonal credit 90 0 - 162 82

Other credit extensions 0 0 0 0

Net portfolio holdings of Maiden Lane LLC7 0 0 - 7 0

Float -592 - 463 + 37 -437

Central bank liquidity swaps8 973 + 931 + 899 973

Other Federal Reserve assets9 23,420 - 7 - 2,180 23,762

Foreign currency denominated assets10 20,557 - 60 - 315 20,699

Gold stock 11,041 0 0 11,041

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

Treasury currency outstanding11 50,081 + 14 + 390 50,081

Total factors supplying reserve funds 3,979,304 + 83,864 - 253,264 3,993,729

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

Oct 2, 2019 Sep 25, 2019 Oct 3, 2018

Wednesday

Oct 2, 2019

Currency in circulation11 1,762,882 + 1,141 + 76,240 1,765,667

Reverse repurchase agreements12 291,981 - 2,110 + 35,508 288,618

Foreign official and international accounts 287,125 - 1,912 + 57,192 285,564

Others 4,855 - 199 - 21,685 3,054

Treasury cash holdings 181 + 11 - 34 189

Deposits with F.R. Banks, other than reserve balances 410,510 + 16,459 - 33,193 408,227

Term deposits held by depository institutions 0 0 0 0

U.S. Treasury, General Account 335,171 + 20,982 - 32,836 335,185

Foreign official 5,186 + 1 - 70 5,186

Other13 70,153 - 4,524 - 287 67,856

Other liabilities and capital14 44,551 - 665 + 592 44,317

Total factors, other than reserve balances,

absorbing reserve funds 2,510,105 + 14,836 + 79,113 2,507,018

Reserve balances with Federal Reserve Banks 1,469,200 + 69,029 - 332,376 1,486,710

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

Oct 2, 2019 Sep 25, 2019 Oct 3, 2018

Wednesday

Oct 2, 2019

Securities held in custody for foreign official and international

accounts 3,441,427 - 17,136 + 5,310 3,436,380

Marketable U.S. Treasury securities1 2,999,367 - 16,025 - 61,427 2,994,386

Federal agency debt and mortgage-backed securities2 359,681 - 1,490 + 52,862 359,529

Other securities3 82,379 + 380 + 13,875 82,465

Securities lent to dealers 31,852 - 14 + 13,530 31,587

Overnight facility4 31,852 - 14 + 13,530 31,587

U.S. Treasury securities 31,852 - 14 + 13,530 31,587

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, October 2, 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 62 51 0 0 0 ... 114

U.S. Treasury securities1

Holdings 128 77,461 267,176 848,695 302,345 621,326 2,117,130

Weekly changes - 12,957 + 10,893 - 2,266 + 9,010 + 4,739 + 30 + 9,447

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 9 640 75,947 1,390,663 1,467,260

Weekly changes 0 0 + 2 - 2 0 + 3 + 3

Repurchase agreements4 181,050 0 ... ... ... ... 181,050

Central bank liquidity swaps5 973 0 0 0 0 0 973

Reverse repurchase agreements4 288,618 0 ... ... ... ... 288,618

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 Oct 2, 2019

Mortgage-backed securities held outright1 1,467,260

Commitments to buy mortgage-backed securities2 6,213

Commitments to sell mortgage-backed securities2 0

Cash and cash equivalents3 19

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

Oct 2, 2019 Sep 25, 2019 Oct 3, 2018

Assets

Gold certificate account 11,037 0 0

Special drawing rights certificate account 5,200 0 0

Coin 1,702 + 4 - 60

Securities, unamortized premiums and discounts,

repurchase agreements, and loans 3,882,410 + 85,581 - 227,432

Securities held outright1 3,586,738 + 9,451 - 391,656

U.S. Treasury securities 2,117,130 + 9,447 - 177,080

Bills2 6,002 0 + 5,902

Notes and bonds, nominal2 1,967,364 + 8,159 - 189,231

Notes and bonds, inflation-indexed2 119,392 + 1,246 + 3,813

Inflation compensation3 24,372 + 42 + 2,436

Federal agency debt securities2 2,347 0 - 62

Mortgage-backed securities4 1,467,260 + 3 - 214,515

Unamortized premiums on securities held outright5 127,155 - 6 - 17,555

Unamortized discounts on securities held outright5 -12,646 + 68 + 1,012

Repurchase agreements6 181,050 + 76,050 + 181,050

Loans 114 + 18 - 283

Net portfolio holdings of Maiden Lane LLC7 0 0 - 7

Items in process of collection (0) 49 - 4 - 85

Bank premises 2,183 - 7 + 4

Central bank liquidity swaps8 973 + 931 + 899

Foreign currency denominated assets9 20,699 + 137 - 83

Other assets10 21,579 + 1,474 - 2,107

Total assets (0) 3,945,831 + 88,116 - 228,873

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

Oct 2, 2019 Sep 25, 2019 Oct 3, 2018

Liabilities

Federal Reserve notes, net of F.R. Bank holdings 1,717,473 + 2,740 + 75,371

Reverse repurchase agreements11 288,618 - 1,923 + 58,571

Deposits (0) 1,894,938 + 87,302 - 363,537

Term deposits held by depository institutions 0 0 0

Other deposits held by depository institutions 1,486,710 + 59,421 - 350,877

U.S. Treasury, General Account 335,185 + 29,375 - 15,096

Foreign official 5,186 - 1 - 71

Other12 (0) 67,856 - 1,495 + 2,506

Deferred availability cash items (0) 486 + 351 + 160

Other liabilities and accrued dividends13 5,005 - 382 + 360

Total liabilities (0) 3,906,519 + 88,086 - 229,075

Capital accounts

Capital paid in 32,487 + 30 + 203

Surplus 6,825 0 0

Other capital accounts 0 0 0

Total capital 39,312 + 30 + 203

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, October 2, 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 1,702 47 49 150 105 217 180 285 33 45 110 194 288

Securities, unamortized premiums and

discounts, repurchase agreements,

and loans 3,882,410 80,543 2,118,067 94,016 113,611 237,583 265,457 203,792 55,817 33,639 57,569 168,574 453,742

Securities held outright1 3,586,738 74,411 1,956,819 86,859 104,939 219,496 245,236 188,273 51,551 31,037 53,186 155,740 419,192

U.S. Treasury securities 2,117,130 43,922 1,155,044 51,270 61,942 129,561 144,755 111,131 30,429 18,320 31,394 91,928 247,435

Bills2 6,002 125 3,275 145 176 367 410 315 86 52 89 261 701

Notes and bonds3 2,111,128 43,798 1,151,770 51,124 61,766 129,194 144,344 110,816 30,342 18,268 31,305 91,668 246,733

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

Mortgage-backed securities4 1,467,260 30,440 800,494 35,532 42,928 89,791 100,321 77,018 21,088 12,697 21,757 63,710 171,483

Unamortized premiums on securities 

held outright5 127,155 2,638 69,372 3,079 3,720 7,781 8,694 6,675 1,828 1,100 1,885 5,521 14,861

Unamortized discounts on securities 

held outright5 -12,646 -262 -6,899 -306 -370 -774 -865 -664 -182 -109 -188 -549 -1,478

Repurchase agreements6 181,050 3,756 98,776 4,384 5,297 11,080 12,379 9,504 2,602 1,567 2,685 7,861 21,160

Loans 114 0 0 0 25 0 13 5 18 45 1 0 7

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 49 0 0 0 0 0 48 0 0 0 0 0 0

Bank premises 2,183 107 455 82 116 191 204 192 102 94 228 222 190

Central bank liquidity swaps8 973 42 309 56 78 207 57 41 15 5 9 12 143

Foreign currency denominated

assets9 20,699 887 6,632 1,191 1,645 4,394 1,198 860 314 98 200 255 3,025

Other assets10 21,579 465 11,381 519 643 1,530 1,465 1,108 382 249 397 939 2,500

Interdistrict settlement account 0 + 11,339 - 170,264 - 13,738 + 6,893 + 22,725 + 38,250 + 22,757 + 7,450 + 4,271 + 4,085 + 27,909 + 38,324

Total assets 3,945,831 93,977 1,972,154 82,813 123,859 268,012 309,073 230,169 64,590 38,677 63,043 199,278 500,185

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, October 2, 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 1,931,285 57,995 641,378 55,510 91,293 131,697 272,694 124,383 56,784 31,197 50,650 160,702 257,002

Less: Notes held by F.R. Banks 213,812 6,797 53,035 9,475 9,984 16,497 30,341 14,544 6,321 3,583 8,142 21,326 33,768

Federal Reserve notes, net 1,717,473 51,198 588,343 46,036 81,308 115,200 242,353 109,840 50,463 27,614 42,508 139,376 223,233

Reverse repurchase agreements11 288,618 5,988 157,461 6,989 8,444 17,662 19,734 15,150 4,148 2,497 4,280 12,532 33,732

Deposits 1,894,938 34,834 1,210,990 28,063 30,657 126,492 44,189 103,361 9,208 7,717 15,704 46,621 237,102

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 1,486,710 34,825 849,478 28,061 30,623 125,881 44,153 57,648 9,204 7,621 15,676 46,445 237,096

U.S. Treasury, General Account 335,185 0 335,185 0 0 0 0 0 0 0 0 0 0

Foreign official 5,186 2 5,159 2 3 9 2 2 1 0 0 0 6

Other12 67,856 7 21,168 1 31 602 33 45,712 3 97 28 176 0

Deferred availability cash items 486 0 0 0 0 0 50 0 0 436 0 0 0

Earnings remittances due to the U.S.

Treasury13 961 8 591 20 10 -1 99 48 16 11 15 62 82

Other liabilities and accrued

dividends 4,044 162 1,551 168 187 488 284 263 141 141 142 208 310

Total liabilities 3,906,519 92,190 1,958,936 81,276 120,607 259,841 306,708 228,662 63,975 38,417 62,649 198,799 494,459

Capital

Capital paid in 32,487 1,494 11,053 1,142 2,707 6,716 1,969 1,222 511 228 328 394 4,724

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 3,945,831 93,977 1,972,154 82,813 123,859 268,012 309,073 230,169 64,590 38,677 63,043 199,278 500,185

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, October 2, 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 Oct 2, 2019

Federal Reserve notes outstanding 1,931,285

Less: Notes held by F.R. Banks not subject to collateralization 213,812

Federal Reserve notes to be collateralized 1,717,473

Collateral held against Federal Reserve notes 1,717,473

Gold certificate account 11,037

Special drawing rights certificate account 5,200

U.S. Treasury, agency debt, and mortgage-backed securities pledged1,2 1,701,236

Other assets pledged 0

Memo:

Total U.S. Treasury, agency debt, and mortgage-backed securities1,2 3,767,788

Less: Face value of securities under reverse repurchase agreements 277,288

U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 3,490,499

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.