FEDERAL RESERVE statistical release

For Release at

4:30 P.M. EDT

April 9, 2020

The Board's H.4.1 statistical release, "Factors Affecting Reserve Balances of Depository

Institutions and Condition Statement of Federal Reserve Banks," has been modified to include

information related to the temporary repurchase agreement facility for foreign and international

monetary authorities (FIMA Repo Facility) and the purchases of agency commercial mortgagebacked securities.

The FIMA Repo Facility was announced by the Federal Reserve on March 31, 2020, and began

operations on April 6, 2020. The FIMA Repo Facility will allow FIMA account holders, which

consist of central banks and other international monetary authorities with accounts at the Federal

Reserve Bank of New York, to enter into repurchase agreements with the Federal Reserve’s

System Open Market Account (SOMA). Beginning with this release, in table 1 the line item

“Repurchase agreements” reports in aggregate repurchase agreements conducted through the

FIMA Repo Facility and those conducted with primary dealers. Repurchase agreements

conducted with primary dealers, formerly reported in the line item “Repurchase agreements” in

prior releases, are now presented in the line item “Others.” The FIMA Repo Facility is presented

in the line item “Foreign official” under “Repurchase agreements.” Aggregate repurchase

agreements also are reported in tables 2, 4, 5, and 6. 

The Federal Reserve announced on March 23, 2020 that SOMA will start buying agency

commercial mortgage-backed securities and operations began on March 27, 2020. Two new lines

were added to table 3, Supplemental Information on Mortgage-Backed Securities, to separately

report commercial mortgage-backed securities and residential mortgage-backed securities. These

securities are presented in tables 1 and 4 in the line item “Mortgage-backed securities” and in

table 5 in the line item “Securities, unamortized premiums and discounts, repurchase agreements,

and loans.” 
FEDERAL RESERVE statistical release

H.4.1

Factors Affecting Reserve Balances of Depository Institutions and

Condition Statement of Federal Reserve Banks April 9, 2020

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 8, 2020 Apr 1, 2020 Apr 10, 2019

Wednesday

Apr 8, 2020

Reserve Bank credit 5,968,038 + 393,234 +2,071,135 6,044,516

Securities held outright1 4,972,677 + 367,694 +1,224,187 5,096,434

U.S. Treasury securities 3,511,128 + 336,013 +1,357,734 3,634,386

Bills2 326,044 0 + 326,044 326,044

Notes and bonds, nominal2 2,950,288 + 312,705 + 933,656 3,064,860

Notes and bonds, inflation-indexed2 202,625 + 21,563 + 87,471 210,625

Inflation compensation3 32,170 + 1,743 + 10,562 32,857

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

Mortgage-backed securities4 1,459,202 + 31,682 - 133,548 1,459,701

Unamortized premiums on securities held outright5 229,939 + 38,341 + 94,594 243,113

Unamortized discounts on securities held outright5 -7,957 + 1,248 + 5,119 -7,381

Repurchase agreements6 227,643 - 74,820 + 227,643 192,751

Foreign official 0 0 0 1

Others 227,643 - 74,820 + 227,643 192,750

Loans 130,004 - 304 + 129,991 129,637

Primary credit 43,513 - 6,065 + 43,509 43,449

Secondary credit 0 0 0 0

Seasonal credit 0 0 - 9 0

Primary Dealer Credit Facility 32,699 - 1,183 + 32,699 33,018

Money Market Mutual Fund Liquidity Facility 53,793 + 6,944 + 53,793 53,171

Other credit extensions 0 0 0 0

Net portfolio holdings of Maiden Lane LLC7 0 0 0 0

Float -194 + 249 - 15 -305

Central bank liquidity swaps8 385,365 + 57,578 + 385,310 358,077

Other Federal Reserve assets9 30,560 + 3,247 + 4,306 32,189

Foreign currency denominated assets10 20,359 - 242 - 246 20,373

Gold stock 11,041 0 0 11,041

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

Treasury currency outstanding11 50,233 + 14 + 360 50,233

Total factors supplying reserve funds 6,054,871 + 393,006 +2,071,248 6,131,363

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 8, 2020 Apr 1, 2020 Apr 10, 2019

Wednesday

Apr 8, 2020

Currency in circulation11 1,881,011 + 4,133 + 154,317 1,883,487

Reverse repurchase agreements12 412,790 - 72,088 + 159,116 334,488

Foreign official and international accounts 282,345 + 11,909 + 29,255 281,005

Others 130,445 - 83,997 + 129,861 53,483

Treasury cash holdings 317 - 10 - 19 307

Deposits with F.R. Banks, other than reserve balances 946,812 + 233,706 + 623,820 1,083,854

Term deposits held by depository institutions 0 0 0 0

U.S. Treasury, General Account 698,578 + 269,311 + 435,961 827,178

Foreign official 16,760 - 448 + 11,517 16,646

Other13 231,474 - 35,157 + 176,342 240,030

Other liabilities and capital14 53,490 + 722 + 8,154 54,724

Total factors, other than reserve balances,

absorbing reserve funds 3,294,420 + 166,463 + 945,389 3,356,860

Reserve balances with Federal Reserve Banks 2,760,451 + 226,543 +1,125,860 2,774,503

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 8, 2020 Apr 1, 2020 Apr 10, 2019

Wednesday

Apr 8, 2020

Securities held in custody for foreign official and international

accounts 3,316,197 - 22,224 - 155,042 3,314,710

Marketable U.S. Treasury securities1 2,845,672 - 21,676 - 228,000 2,843,669

Federal agency debt and mortgage-backed securities2 388,280 - 249 + 61,457 388,276

Other securities3 82,245 - 299 + 11,502 82,765

Securities lent to dealers 36,572 - 332 + 10,020 38,787

Overnight facility4 36,572 - 332 + 10,020 38,787

U.S. Treasury securities 36,572 - 332 + 10,020 38,787

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 8, 2020

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

Loans1 15,203 96,019 18,415 0 0 ... 129,637

U.S. Treasury securities2

Holdings 47,112 233,415 500,589 1,432,206 576,918 844,146 3,634,386

Weekly changes + 10,874 + 406 + 32,526 + 133,861 + 67,690 + 48,197 + 293,554

Federal agency debt securities3

Holdings 0 0 0 0 1,151 1,196 2,347

Weekly changes 0 0 0 0 0 0 0

Mortgage-backed securities4

Holdings 0 0 5 1,704 72,800 1,385,191 1,459,701

Weekly changes 0 0 0 + 62 + 531 + 1,386 + 1,980

Repurchase agreements5 57,801 134,950 ... ... ... ... 192,751

Central bank liquidity swaps6 57,053 301,024 0 0 0 0 358,077

Reverse repurchase agreements5 334,488 0 ... ... ... ... 334,488

Term deposits 0 0 0 ... ... ... 0

Note: Components may not sum to totals because of rounding.

...Not applicable.

1. Loans includes primary, secondary, and seasonal loans and credit extended through the Primary Dealer Credit Facility, Money Market Mutual Fund

Liquidity Facility, and other credit extensions.

2. 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.

3. Face value.

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

5. Cash value of agreements.

6. 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 8, 2020

Mortgage-backed securities held outright1 1,459,701

Residential mortgage-backed securities 1,456,242

Commercial mortgage-backed securities 3,459

Commitments to buy mortgage-backed securities2 326,103

Commitments to sell mortgage-backed securities2 0

Cash and cash equivalents3 17

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. Includes residential and commercial mortgage-backed securities. Residential mortgage-backed securities generally settle within

180 calendar days and include commitments associated with outright transactions, dollar rolls, and coupon swaps. Commercial mortgage-backed

securities generally settle within three business days.

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 8, 2020 Apr 1, 2020 Apr 10, 2019

Assets

Gold certificate account 11,037 0 0

Special drawing rights certificate account 5,200 0 0

Coin 1,668 + 8 - 40

Securities, unamortized premiums and discounts,

repurchase agreements, and loans 5,654,554 + 258,295 +1,783,613

Securities held outright1 5,096,434 + 295,533 +1,347,732

U.S. Treasury securities 3,634,386 + 293,554 +1,480,943

Bills2 326,044 0 + 326,044

Notes and bonds, nominal2 3,064,860 + 273,000 +1,048,228

Notes and bonds, inflation-indexed2 210,625 + 18,900 + 95,471

Inflation compensation3 32,857 + 1,653 + 11,199

Federal agency debt securities2 2,347 0 0

Mortgage-backed securities4 1,459,701 + 1,980 - 133,211

Unamortized premiums on securities held outright5 243,113 + 31,774 + 107,830

Unamortized discounts on securities held outright5 -7,381 + 1,111 + 5,684

Repurchase agreements6 192,751 - 70,299 + 192,751

Loans7 129,637 + 176 + 129,616

Net portfolio holdings of Maiden Lane LLC8 0 0 0

Items in process of collection (0) 39 - 1 - 16

Bank premises 2,201 + 3 - 1

Central bank liquidity swaps9 358,077 + 9,533 + 358,022

Foreign currency denominated assets10 20,373 - 211 - 302

Other assets11 29,990 + 3,905 + 5,078

Total assets (0) 6,083,141 + 271,534 +2,146,357

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 8, 2020 Apr 1, 2020 Apr 10, 2019

Liabilities

Federal Reserve notes, net of F.R. Bank holdings 1,835,225 + 4,240 + 154,735

Reverse repurchase agreements12 334,488 - 159,939 + 78,114

Deposits (0) 3,858,360 + 424,650 +1,904,215

Term deposits held by depository institutions 0 0 0

Other deposits held by depository institutions 2,774,506 + 90,108 +1,127,946

U.S. Treasury, General Account 827,178 + 320,245 + 581,514

Foreign official 16,646 - 1,099 + 11,402

Other13 (0) 240,030 + 15,395 + 183,354

Deferred availability cash items (0) 344 - 247 + 102

Other liabilities and accrued dividends14 15,892 + 2,825 + 9,701

Total liabilities (0) 6,044,309 + 271,529 +2,146,867

Capital accounts

Capital paid in 32,007 + 5 - 510

Surplus 6,825 0 0

Other capital accounts 0 0 0

Total capital 38,832 + 5 - 510

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. Loans includes primary, secondary, and seasonal loans and credit extended through the Primary Dealer Credit Facility, Money Market Mutual Fund

Liquidity Facility, and other credit extensions.

8. Refer to the note on consolidation accompanying table 5.

9. 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.

10. Revalued daily at current foreign currency exchange rates.

11. Includes accrued interest, which represents the daily accumulation of interest earned, and other accounts receivable.

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.
H.4.1

5. Statement of Condition of Each Federal Reserve Bank, April 8, 2020

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 certificates and special drawing

rights certificates 16,237 547 5,525 537 768 1,166 2,214 1,135 478 276 445 1,172 1,974

Coin 1,668 40 49 151 92 226 157 279 31 51 111 187 295

Securities, unamortized premiums and

discounts, repurchase agreements,

and loans1 5,654,554 168,358 3,076,306 134,302 162,668 338,460 377,904 294,022 79,667 47,829 83,079 241,236 650,724

Central bank liquidity swaps2 358,077 16,997 120,337 12,886 30,599 75,578 17,759 13,906 5,870 2,804 3,776 4,251 53,314

Foreign currency denominated

assets3 20,373 967 6,848 733 1,741 4,300 1,010 791 334 160 215 242 3,033

Other assets4 32,230 763 16,310 819 1,013 2,269 2,275 1,740 620 417 761 1,554 3,689

Interdistrict settlement account 0 - 35,653 + 132,891 - 12,995 - 16,511 + 67,575 - 50,526 + 45,209 - 8,827 - 6,978 - 574 + 44,470 - 158,081

Total assets 6,083,141 152,019 3,358,266 136,433 180,370 489,574 350,794 357,082 78,172 44,558 87,813 293,112 554,948

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 8, 2020 (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, net 1,835,225 56,878 617,062 50,228 84,516 123,702 253,346 118,667 57,445 29,983 49,204 149,848 244,346

Reverse repurchase agreements5 334,488 6,939 182,487 8,100 9,786 20,469 22,870 17,558 4,807 2,894 4,960 14,524 39,093

Deposits 3,858,360 86,021 2,536,452 76,336 82,329 336,259 71,726 218,599 15,012 10,830 32,933 127,487 264,375

Depository institutions 2,774,506 85,977 1,605,322 76,335 76,890 334,660 71,081 88,224 15,008 10,764 20,914 124,963 264,368

U.S. Treasury, General Account 827,178 0 827,178 0 0 0 0 0 0 0 0 0 0

Foreign official 16,646 2 16,620 1 3 8 2 2 1 0 0 0 6

Other6 240,030 43 87,333 0 5,436 1,591 642 130,373 4 66 12,019 2,523 1

Earnings remittances due to the U.S.

Treasury7 2,022 36 1,204 42 46 71 135 104 26 13 27 89 229

Other liabilities and accrued

dividends 14,214 315 8,060 339 396 921 818 656 246 512 274 519 1,158

Total liabilities 6,044,309 150,189 3,345,265 135,044 177,073 481,423 348,895 355,584 77,537 44,232 87,398 292,467 549,201

Capital

Capital paid in 32,007 1,506 10,707 1,143 2,714 6,710 1,561 1,233 523 272 342 564 4,731

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 6,083,141 152,019 3,358,266 136,433 180,370 489,574 350,794 357,082 78,172 44,558 87,813 293,112 554,948

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 8, 2020 (continued)

1. Securities include outright holdings of U.S. Treasury securities, federal agency debt securities, and mortgage-backed securities, including securities lent to dealers under the overnight securities

lending facility; refer to table 1A. Mortgage-backed securities are guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. Unamortized premiums and discounts are the differences between the

purchase price and the face value of the securities that have not been amortized. For U.S. Treasury securities, federal agency debt securities, and mortgage-backed securities, amortization is on

an effective-interest basis. Repurchase agreements reflect the cash value of agreements, which are collateralized by U.S. Treasury and federal agency securities. Loans includes primary,

secondary, and seasonal loans and credit extended through the Primary Dealer Credit Facility, Money Market Mutual Fund Liquidity Facility, and other credit extensions.

2. 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. Revalued daily at current foreign currency exchange rates.

4. Includes items in process of collection, bank premises, accrued interest (which represents the daily accumulation of interest earned), and other accounts receivable. Also includes Net portfolio

holdings of Maiden Lane LLC; refer to the note on consolidation for additional information.

5. Cash value of agreements, which are collateralized by U.S. Treasury securities, federal agency debt securities, and mortgage-backed securities.

6. 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.

7. 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 a component of Other assets on the previous page (and as assets 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 8, 2020

Federal Reserve notes outstanding 1,997,778

Less: Notes held by F.R. Banks not subject to collateralization 162,554

Federal Reserve notes to be collateralized 1,835,225

Collateral held against Federal Reserve notes 1,835,225

Gold certificate account 11,037

Special drawing rights certificate account 5,200

U.S. Treasury, agency debt, and mortgage-backed securities pledged1,2 1,818,988

Other assets pledged 0

Memo:

Total U.S. Treasury, agency debt, and mortgage-backed securities1,2 5,289,185

Less: Face value of securities under reverse repurchase agreements 318,521

U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 4,970,664

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.