FEDERAL RESERVE statistical release

H.4.1

Factors Affecting Reserve Balances of Depository Institutions and     
Condition Statement of Federal Reserve Banks                                                February 20, 2020


1. Factors Affecting Reserve Balances of Depository Institutions
Millions of dollars
Reserve Bank credit, related items, and                          Averages of daily figures         Wednesday  
reserve balances of depository institutions at             Week ended    Change from week ended  Feb 19, 2020 
Federal Reserve Banks                                     Feb 19, 2020 Feb 12, 2020 Feb 20, 2019              

Reserve Bank credit                                         4,144,838   +    9,821   +  192,725    4,133,260  
  Securities held outright (1)                              3,837,204   +    8,942   +   31,424    3,839,819  
    U.S. Treasury securities                                2,444,969   +    6,948   +  259,407    2,451,688  
      Bills (2)                                               260,181   +    4,715   +  260,181      265,539  
      Notes and bonds, nominal (2)                          2,028,306   +    2,030   -   21,123    2,029,678  
      Notes and bonds, inflation-indexed (2)                  131,052   +      229   +   16,283      131,052  
      Inflation compensation (3)                               25,430   -       26   +    4,066       25,419  
    Federal agency debt securities (2)                          2,347            0   -       62        2,347  
    Mortgage-backed securities (4)                          1,389,889   +    1,995   -  227,920    1,385,784  
  Unamortized premiums on securities held outright (5)        124,048   +      212   -   13,716      123,866  
  Unamortized discounts on securities held outright (5)       -13,301   +        6   -       49      -13,499  
  Repurchase agreements (6)                                   167,414   +    2,690   +  167,414      163,900  
  Loans                                                             2   +        2   -       17            5  
    Primary credit                                                  2   +        2   -        3            5  
    Secondary credit                                                0            0            0            0  
    Seasonal credit                                                 0            0   -       14            0  
    Other credit extensions                                         0            0            0            0  
  Net portfolio holdings of Maiden Lane LLC (7)                     0            0            0            0  
  Float                                                          -114   -       19   +       53         -117  
  Central bank liquidity swaps (8)                                 68   +       13            0           67  
  Other Federal Reserve assets (9)                             29,516   -    2,026   +    7,615       19,217  
Foreign currency denominated assets (10)                       20,243   -      127   -      490       20,112  
Gold stock                                                     11,041            0            0       11,041  
Special drawing rights certificate account                      5,200            0            0        5,200  
Treasury currency outstanding (11)                             50,169   +       14   +      355       50,169  
                                                                                                              
Total factors supplying reserve funds                       4,231,492   +    9,709   +  192,592    4,219,781  

Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table.





1. Factors Affecting Reserve Balances of Depository Institutions (continued)
Millions of dollars
Reserve Bank credit, related items, and                          Averages of daily figures         Wednesday  
reserve balances of depository institutions at             Week ended    Change from week ended  Feb 19, 2020 
Federal Reserve Banks                                     Feb 19, 2020 Feb 12, 2020 Feb 20, 2019              

Currency in circulation (11)                                 1,798,139   +    3,745   +   87,292    1,799,719 
Reverse repurchase agreements (12)                             225,764   -    2,522   -   23,165      226,964 
  Foreign official and international accounts                  223,614   -    3,948   -   21,506      221,815 
  Others                                                         2,150   +    1,426   -    1,660        5,149 
Treasury cash holdings                                             251   +       20   -       30          270 
Deposits with F.R. Banks, other than reserve balances          509,060   +   30,285   +  106,841      490,183 
  Term deposits held by depository institutions                      0            0            0            0 
  U.S. Treasury, General Account                               428,805   +   17,568   +   94,909      421,051 
  Foreign official                                               5,185   +        2   -       59        5,187 
  Other (13)                                                    75,070   +   12,715   +   11,991       63,945 
Other liabilities and capital (14)                              44,160   -      372   +      116       43,624 
                                                                                                              
Total factors, other than reserve balances,               
    absorbing reserve funds                                  2,577,374   +   31,157   +  171,054    2,560,760 
                                                                                                              
Reserve balances with Federal Reserve Banks                  1,654,118   -   21,448   +   21,538    1,659,021 

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 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.





1A. Memorandum Items
Millions of dollars
Memorandum item                                                  Averages of daily figures         Wednesday  
                                                           Week ended    Change from week ended  Feb 19, 2020 
                                                          Feb 19, 2020 Feb 12, 2020 Feb 20, 2019              

Securities held in custody for foreign official and       
     international accounts                                  3,462,507   +    4,076   +   30,620    3,457,135 
  Marketable U.S. Treasury securities (1)                    2,997,429   -   11,513   -   39,121    2,992,204 
  Federal agency debt and mortgage-backed securities (2)       382,790   +   15,502   +   58,102      382,809 
  Other securities (3)                                          82,289   +       88   +   11,640       82,122 
Securities lent to dealers                                      25,769   -    7,009   +    2,927       30,052 
  Overnight facility (4)                                        25,769   -    7,009   +    2,927       30,052 
    U.S. Treasury securities                                    25,769   -    7,009   +    2,927       30,052 
    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, February 19, 2020   

Millions of dollars
Remaining Maturity                     Within 15     16 days to    91 days to   Over 1 year   Over 5 year     Over 10         All      
                                          days        90 days        1 year      to 5 years   to 10 years      years                   

Loans                                            5             0             0             0             0           ...             5 
U.S. Treasury securities (1)                                                                                                           
  Holdings                                  31,238       170,808       361,944       906,588       325,396       655,715     2,451,688 
  Weekly changes                        -   20,944    +   41,502    -   14,245    -   11,762    +    6,081    +    8,437    +    9,067 
Federal agency debt securities (2)                                                                                                     
  Holdings                                       0             0             0             0         1,151         1,196         2,347 
  Weekly changes                                 0             0             0             0             0             0             0 
Mortgage-backed securities (3)                                                                                                         
  Holdings                                       0             0             4         1,551        71,239     1,312,989     1,385,784 
  Weekly changes                                 0    -        1             0    +      157    -      452    -    5,448    -    5,742 
Repurchase agreements (4)                  163,900             0           ...           ...           ...           ...       163,900 
Central bank liquidity swaps (5)                67             0             0             0             0             0            67 
                                                                                                                                       
Reverse repurchase agreements (4)          226,964             0           ...           ...           ...           ...       226,964 
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.     
                                                                                                            






3. Supplemental Information on Mortgage-Backed Securities
Millions of dollars
Account name                                                                                                            Wednesday   
                                                                                                                      Feb 19, 2020  

Mortgage-backed securities held outright (1)                                                                             1,385,784  
                                                                                                                                    
Commitments to buy mortgage-backed securities (2)                                                                            3,435  
Commitments to sell mortgage-backed securities (2)                                                                               0  
                                                                                                                                    
Cash and cash equivalents (3)                                                                                                    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.                                                                                        







4. Consolidated Statement of Condition of All Federal Reserve Banks
Millions of dollars
Assets, liabilities, and capital                         Eliminations     Wednesday         Change since       
                                                             from       Feb 19, 2020   Wednesday    Wednesday  
                                                        consolidation                Feb 12, 2020 Feb 20, 2019 

Assets                                                                                                         
  Gold certificate account                                                   11,037            0            0  
  Special drawing rights certificate account                                  5,200            0            0  
  Coin                                                                        1,774   -        9   -       24  
  Securities, unamortized premiums and discounts,     
     repurchase agreements, and loans                                     4,114,092   +    2,215   +  191,017  
    Securities held outright (1)                                          3,839,819   +    3,325   +   41,060  
      U.S. Treasury securities                                            2,451,688   +    9,067   +  269,487  
        Bills (2)                                                           265,539   +    7,501   +  265,539  
        Notes and bonds, nominal (2)                                      2,029,678   +    1,601   -   16,424  
        Notes and bonds, inflation-indexed (2)                              131,052            0   +   16,283  
        Inflation compensation (3)                                           25,419   -       35   +    4,089  
      Federal agency debt securities (2)                                      2,347            0   -       62  
      Mortgage-backed securities (4)                                      1,385,784   -    5,742   -  228,366  
    Unamortized premiums on securities held outright  
    (5)                                                                     123,866   -      383   -   13,678  
    Unamortized discounts on securities held outright 
    (5)                                                                     -13,499   -      233   -      249  
    Repurchase agreements (6)                                               163,900   -      500   +  163,900  
    Loans                                                                         5   +        5   -       18  
  Net portfolio holdings of Maiden Lane LLC (7)                                   0            0            0  
  Items in process of collection                                   (0)           71   +       16   -        3  
  Bank premises                                                               2,199   +        2   -        4  
  Central bank liquidity swaps (8)                                               67   +       12   -        1  
  Foreign currency denominated assets (9)                                    20,112   -      198   -      695  
  Other assets (10)                                                          17,018   -   13,157   -      140  
                                                                                                               
Total assets                                                       (0)    4,171,570   -   11,119   +  190,150  

Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table.





4. Consolidated Statement of Condition of All Federal Reserve Banks (continued)
Millions of dollars
Assets, liabilities, and capital                         Eliminations     Wednesday         Change since       
                                                             from       Feb 19, 2020   Wednesday    Wednesday  
                                                        consolidation                Feb 12, 2020 Feb 20, 2019 

Liabilities                                                                                                    
  Federal Reserve notes, net of F.R. Bank holdings                         1,751,590   +    3,329   +   87,321 
  Reverse repurchase agreements (11)                                         226,964   +    3,135   -   28,215 
  Deposits                                                          (0)    2,149,204   -   16,606   +  131,434 
    Term deposits held by depository institutions                                  0            0            0 
    Other deposits held by depository institutions                         1,659,021   -   36,061   +   39,276 
    U.S. Treasury, General Account                                           421,051   +   16,710   +   90,048 
    Foreign official                                                           5,187   +        4   -       56 
    Other (12)                                                      (0)       63,945   +    2,741   +    2,166 
  Deferred availability cash items                                  (0)          187   +       29   -       77 
  Other liabilities and accrued dividends (13)                                 5,079   -    1,033   +      296 
                                                                                                               
Total liabilities                                                   (0)    4,133,025   -   11,144   +  190,760 
                                                                                                               
Capital accounts                                                                                               
  Capital paid in                                                             31,720   +       25   -      610 
  Surplus                                                                      6,825            0            0 
  Other capital accounts                                                           0            0            0 
                                                                                                               
Total capital                                                                 38,545   +       25   -      610 

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.                               

 



5. Statement of Condition of Each Federal Reserve Bank, February 19, 2020
Millions of dollars
Assets, liabilities, and capital               Total       Boston     New York  Philadelphia  Cleveland    Richmond    Atlanta     Chicago    St. Louis  Minneapolis    Kansas      Dallas       San     
                                                                                                                                                                         City                 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                                             1,774          42          56          157         101         239         172         288          38          52         119         205         304
  Securities, unamortized premiums and      
     discounts, repurchase agreements,      
     and loans                                 4,114,092      85,352   2,244,526       99,629     120,368     251,767     281,293     215,954      59,130      35,600      61,005     178,639     480,828
    Securities held outright (1)               3,839,819      79,662   2,094,893       92,987     112,343     234,983     262,540     201,557      55,188      33,227      56,938     166,730     448,770
      U.S. Treasury securities                 2,451,688      50,863   1,337,569       59,372      71,730     150,035     167,629     128,692      35,237      21,215      36,355     106,455     286,536
        Bills (2)                                265,539       5,509     144,870        6,430       7,769      16,250      18,156      13,939       3,816       2,298       3,938      11,530      31,034
        Notes and bonds (3)                    2,186,149      45,354   1,192,699       52,941      63,961     133,785     149,474     114,754      31,421      18,917      32,417      94,925     255,501
      Federal agency debt securities (2)           2,347          49       1,280           57          69         144         160         123          34          20          35         102         274
      Mortgage-backed securities (4)           1,385,784      28,750     756,043       33,559      40,545      84,805      94,750      72,742      19,917      11,992      20,549      60,172     161,960
    Unamortized premiums on securities held 
      outright (5)                               123,866       2,570      67,578        3,000       3,624       7,580       8,469       6,502       1,780       1,072       1,837       5,378      14,477
    Unamortized discounts on securities     
      held outright (5)                          -13,499        -280      -7,365         -327        -395        -826        -923        -709        -194        -117        -200        -586      -1,578
    Repurchase agreements (6)                    163,900       3,400      89,419        3,969       4,795      10,030      11,206       8,603       2,356       1,418       2,430       7,117      19,155
    Loans                                              5           0           1            0           0           0           0           0           0           0           0           0           4
  Net portfolio holdings of Maiden                                                                                                                                                                       
     Lane LLC (7)                                      0           0           0            0           0           0           0           0           0           0           0           0           0
  Items in process of collection                      71           0           0            0           0           0          70           0           0           1           0           0           0
  Bank premises                                    2,199         105         455           94         117         192         202         193         102          93         228         223         196
  Central bank liquidity swaps (8)                    67           3          21            4           5          14           4           3           1           0           1           1          10
  Foreign currency denominated                                                                                                                                                                           
     assets (9)                                   20,112         866       6,383        1,162       1,605       4,288       1,169         840         307          96         195         249       2,952
  Other assets (10)                               17,018         369       8,746          405         514       1,280       1,140         858         358         190         352         851       1,954
  Interdistrict settlement account                     0  +   11,013  -   63,572   -    9,790  +    7,702  -   12,037  +   21,354  +    8,541  +    8,556  +    4,087  +    6,611  +   21,728  -    4,192
                                                                                                                                                                                                         
Total assets                                   4,171,570      98,296   2,202,142       92,198     131,181     246,909     307,618     227,812      68,970      40,396      68,954     203,068     484,026

Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table.





5. Statement of Condition of Each Federal Reserve Bank, February 19, 2020 (continued)
Millions of dollars
Assets, liabilities, and capital               Total       Boston     New York  Philadelphia Cleveland    Richmond    Atlanta     Chicago    St. Louis  Minneapolis    Kansas      Dallas       San     
                                                                                                                                                                        City                 Francisco  

Liabilities                                                                                                                                                                                             
  Federal Reserve notes outstanding            1,961,551      61,021     645,419      57,403      93,778     134,350     273,968     126,841      59,455      32,130      54,202     163,805     259,181
    Less: Notes held by F.R. Banks               209,962       6,354      53,186       8,613       9,751      16,524      32,480      13,428       4,958       3,085       6,932      19,605      35,046
      Federal Reserve notes, net               1,751,590      54,667     592,232      48,790      84,027     117,826     241,488     113,413      54,497      29,045      47,270     144,200     224,135
  Reverse repurchase agreements (11)             226,964       4,709     123,825       5,496       6,640      13,889      15,518      11,914       3,262       1,964       3,366       9,855      26,526
  Deposits                                     2,149,204      36,918   1,470,987      36,341      37,023     106,551      48,274     100,655      10,427       8,821      17,729      48,299     227,180
    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                           1,659,021      36,907   1,022,188      36,338      36,991     106,187      48,240      59,914      10,423       8,765      17,697      48,198     227,174
    U.S. Treasury, General Account               421,051           0     421,051           0           0           0           0           0           0           0           0           0           0
    Foreign official                               5,187           2       5,160           2           3           9           2           2           1           0           0           0           6
    Other (12)                                    63,945           9      22,589           0          29         356          31      40,740           3          56          32         100           0
  Deferred availability cash items                   187           0           0           0           0           0          74           0           0         113           0           0           0
  Earnings remittances due to the U.S.      
     Treasury (13)                                   988          11         589          17          20          22          89          47          16           8          15          55          99
  Other liabilities and accrued             
     dividends                                     4,092         162       1,537         168         179         490         279         287         137         144         167         201         341
                                                                                                                                                                                                        
Total liabilities                              4,133,025      96,467   2,189,171      90,811     127,889     238,778     305,722     226,316      68,338      40,095      68,547     202,610     478,282
                                                                                                                                                                                                        
Capital                                                                                                                                                                                                 
  Capital paid in                                 31,720       1,505      10,677       1,141       2,709       6,691       1,558       1,231         520         248         335         377       4,729
  Surplus                                          6,825         324       2,294         246         583       1,441         338         265         112          53          72          81       1,016
  Other capital                                        0           0           0           0           0           0           0           0           0           0           0           0           0
                                                                                                                                                                                                        
Total liabilities and capital                  4,171,570      98,296   2,202,142      92,198     131,181     246,909     307,618     227,812      68,970      40,396      68,954     203,068     484,026

Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table.





5. Statement of Condition of Each Federal Reserve Bank, February 19, 2020 (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).
                                                                                                                                        



6. Collateral Held against Federal Reserve Notes: Federal Reserve Agents' Accounts
Millions of dollars
Federal Reserve notes and collateral                                                        Wednesday   
                                                                                          Feb 19, 2020  

Federal Reserve notes outstanding                                                            1,961,551  
  Less: Notes held by F.R. Banks not subject to collateralization                              209,962  
    Federal Reserve notes to be collateralized                                               1,751,590  
Collateral held against Federal Reserve notes                                                1,751,590  
  Gold certificate account                                                                      11,037  
  Special drawing rights certificate account                                                     5,200  
  U.S. Treasury, agency debt, and mortgage-backed securities pledged (1,2)                   1,735,353  
  Other assets pledged                                                                               0  
Memo:                                                                                                   
Total U.S. Treasury, agency debt, and mortgage-backed securities (1,2)                       4,003,719  
  Less: Face value of securities under reverse repurchase agreements                           223,216  
    U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged        3,780,503  

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.