FEDERAL RESERVE statistical release

H.4.1

Factors Affecting Reserve Balances of Depository Institutions and

Condition Statement of Federal Reserve Banks February 14, 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

Feb 13, 2019 Feb 6, 2019 Feb 14, 2018

Wednesday

Feb 13, 2019

Reserve Bank credit 3,988,586 + 2,253 - 396,487 3,989,473

Securities held outright1 3,829,883 - 88 - 374,619 3,829,969

U.S. Treasury securities 2,205,644 - 109 - 230,536 2,205,604

Bills2 0 0 0 0

Notes and bonds, nominal2 2,069,396 0 - 238,195 2,069,396

Notes and bonds, inflation-indexed2 114,769 0 + 5,356 114,769

Inflation compensation3 21,479 - 109 + 2,304 21,439

Federal agency debt securities2 2,409 0 - 1,982 2,409

Mortgage-backed securities4 1,621,830 + 21 - 142,101 1,621,956

Unamortized premiums on securities held outright5 138,154 - 221 - 18,842 138,063

Unamortized discounts on securities held outright5 -13,238 + 31 + 807 -13,226

Repurchase agreements6 0 0 0 0

Loans 20 + 5 + 2 18

Primary credit 6 + 2 + 3 3

Secondary credit 0 0 0 0

Seasonal credit 14 + 4 - 1 15

Other credit extensions 0 0 0 0

Net portfolio holdings of Maiden Lane LLC7 0 0 - 1,715 0

Float -122 + 121 + 34 -145

Central bank liquidity swaps8 71 + 5 + 9 71

Other Federal Reserve assets9 33,818 + 2,400 - 2,163 34,723

Foreign currency denominated assets10 20,796 - 193 - 1,223 20,708

Gold stock 11,041 0 0 11,041

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

Treasury currency outstanding11 49,846 + 14 + 406 49,846

Total factors supplying reserve funds 4,075,469 + 2,075 - 397,304 4,076,268

Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table.
H.4.1

1. Factors Affecting Reserve Balances of Depository Institutions (continued)

Millions of dollars

Averages of daily figures

Change from week ended

Reserve Bank credit, related items, and

reserve balances of depository institutions at

Federal Reserve Banks

Week ended

Feb 13, 2019 Feb 6, 2019 Feb 14, 2018

Wednesday

Feb 13, 2019

Currency in circulation11 1,706,126 + 2,719 + 92,485 1,709,649

Reverse repurchase agreements12 249,176 - 7,791 - 16,977 246,265

Foreign official and international accounts 247,215 - 8,156 + 17,527 244,568

Others 1,961 + 365 - 34,505 1,697

Treasury cash holdings 268 + 8 - 6 278

Deposits with F.R. Banks, other than reserve balances 425,470 + 4,956 + 134,698 441,077

Term deposits held by depository institutions 0 0 0 0

U.S. Treasury, General Account 359,109 + 6,734 + 161,428 375,119

Foreign official 5,244 0 - 12 5,244

Other13 61,118 - 1,778 - 26,717 60,714

Other liabilities and capital14 44,455 + 763 - 3,550 44,582

Total factors, other than reserve balances,

absorbing reserve funds 2,425,496 + 655 + 206,651 2,441,851

Reserve balances with Federal Reserve Banks 1,649,973 + 1,420 - 603,956 1,634,417

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

Feb 13, 2019 Feb 6, 2019 Feb 14, 2018

Wednesday

Feb 13, 2019

Securities held in custody for foreign official and international

accounts 3,426,818 - 99 + 28,152 3,433,576

Marketable U.S. Treasury securities1 3,036,211 - 914 - 20,737 3,037,766

Federal agency debt and mortgage-backed securities2 320,127 + 882 + 57,604 325,160

Other securities3 70,480 - 66 - 8,715 70,650

Securities lent to dealers 18,665 - 3,787 - 9,790 18,131

Overnight facility4 18,665 - 3,787 - 9,790 18,131

U.S. Treasury securities 18,665 - 3,787 - 9,790 18,131

Federal agency debt securities 0 0 - 1 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 13, 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 3 15 0 0 0 ... 18

U.S. Treasury securities1

Holdings 56,052 54,305 275,447 942,588 259,274 617,938 2,205,604

Weekly changes + 12,529 - 12,529 - 1 - 15 - 40 - 52 - 109

Federal agency debt securities2

Holdings 0 62 0 0 0 2,347 2,409

Weekly changes 0 0 0 0 0 0 0

Mortgage-backed securities3

Holdings 0 0 4 215 64,907 1,556,830 1,621,956

Weekly changes 0 0 0 0 0 + 147 + 147

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

Central bank liquidity swaps5 71 0 0 0 0 0 71

Reverse repurchase agreements4 246,265 0 ... ... ... ... 246,265

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

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

...Not applicable.

1. Face value. For inflation-indexed securities, includes the original face value and compensation that adjusts for the effect of inflation on the

original face value of such securities.

2. Face value.

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

4. Cash value of agreements.

5. Dollar value of foreign currency held under these agreements valued at the exchange rate to be used when the foreign currency is returned to

the foreign central bank. This exchange rate equals the market exchange rate used when the foreign currency was acquired from the foreign

central bank.
H.4.1

3. Supplemental Information on Mortgage-Backed Securities

Millions of dollars

Wednesday Account name Feb 13, 2019

Mortgage-backed securities held outright1 1,621,956

Commitments to buy mortgage-backed securities2 279

Commitments to sell mortgage-backed securities2 0

Cash and cash equivalents3 0

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

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

3. This amount is included in other Federal Reserve assets in table 1 and in other assets in table 4 and table 5.
H.4.1

4. Consolidated Statement of Condition of All Federal Reserve Banks

Millions of dollars

Change since

Assets, liabilities, and capital Wednesday Wednesday Eliminations from

consolidation

Wednesday

Feb 13, 2019 Feb 6, 2019 Feb 14, 2018

Assets

Gold certificate account 11,037 0 0

Special drawing rights certificate account 5,200 0 0

Coin 1,809 - 2 - 145

Securities, unamortized premiums and discounts,

repurchase agreements, and loans 3,954,823 - 147 - 400,744

Securities held outright1 3,829,969 + 39 - 382,522

U.S. Treasury securities 2,205,604 - 109 - 230,569

Bills2 0 0 0

Notes and bonds, nominal2 2,069,396 0 - 238,195

Notes and bonds, inflation-indexed2 114,769 0 + 5,356

Inflation compensation3 21,439 - 109 + 2,271

Federal agency debt securities2 2,409 0 - 1,982

Mortgage-backed securities4 1,621,956 + 147 - 149,971

Unamortized premiums on securities held outright5 138,063 - 218 - 19,032

Unamortized discounts on securities held outright5 -13,226 + 32 + 810

Repurchase agreements6 0 0 0

Loans 18 + 2 + 1

Net portfolio holdings of Maiden Lane LLC7 0 0 - 1,715

Items in process of collection (0) 60 - 6 - 40

Bank premises 2,201 + 2 - 1

Central bank liquidity swaps8 71 + 5 + 9

Foreign currency denominated assets9 20,708 - 186 - 1,540

Other assets10 32,523 + 2,415 - 2,253

Total assets (0) 4,028,431 + 2,081 - 406,432

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

Feb 13, 2019 Feb 6, 2019 Feb 14, 2018

Liabilities

Federal Reserve notes, net of F.R. Bank holdings 1,661,886 + 4,275 + 92,849

Reverse repurchase agreements11 246,265 - 1,965 - 22,135

Deposits (0) 2,075,494 - 1,169 - 473,751

Term deposits held by depository institutions 0 0 0

Other deposits held by depository institutions 1,634,417 - 24,446 - 621,550

U.S. Treasury, General Account 375,119 + 21,223 + 194,274

Foreign official 5,244 0 - 10

Other12 (0) 60,714 + 2,054 - 46,464

Deferred availability cash items (0) 205 - 52 - 18

Other liabilities and accrued dividends13 5,421 + 983 - 964

Total liabilities (0) 3,989,271 + 2,071 - 404,019

Capital accounts

Capital paid in 32,336 + 10 + 763

Surplus 6,825 0 - 3,175

Other capital accounts 0 0 0

Total capital 39,161 + 10 - 2,412

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, February 13, 2019

Millions of dollars

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

Assets

Gold certificate account 11,037 364 3,626 350 544 773 1,491 739 334 199 307 905 1,405

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

Coin 1,809 49 51 156 125 237 196 293 32 47 115 203 305

Securities, unamortized premiums and

discounts, repurchase agreements,

and loans 3,954,823 75,533 2,183,359 99,851 112,120 234,030 237,394 211,822 52,652 33,009 62,259 163,530 489,265

Securities held outright1 3,829,969 73,148 2,114,440 96,699 108,581 226,643 229,901 205,125 50,990 31,961 60,293 158,368 473,821

U.S. Treasury securities 2,205,604 42,125 1,217,664 55,687 62,530 130,519 132,395 118,127 29,364 18,406 34,721 91,201 272,864

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

Notes and bonds3 2,205,604 42,125 1,217,664 55,687 62,530 130,519 132,395 118,127 29,364 18,406 34,721 91,201 272,864

Federal agency debt securities2 2,409 46 1,330 61 68 143 145 129 32 20 38 100 298

Mortgage-backed securities4 1,621,956 30,978 895,445 40,951 45,983 95,981 97,361 86,868 21,594 13,535 25,533 67,068 200,659

Unamortized premiums on securities 

held outright5 138,063 2,637 76,221 3,486 3,914 8,170 8,287 7,394 1,838 1,152 2,173 5,709 17,080

Unamortized discounts on securities 

held outright5 -13,226 -253 -7,302 -334 -375 -783 -794 -708 -176 -110 -208 -547 -1,636

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

Loans 18 0 0 0 0 0 0 11 0 6 1 0 0

Net portfolio holdings of Maiden

Lane LLC7 0 0 0 0 0 0 0 0 0 0 0 0 0

Items in process of collection 60 0 0 0 0 0 60 0 0 0 0 0 0

Bank premises 2,201 109 455 81 118 195 207 193 106 95 231 220 192

Central bank liquidity swaps8 71 3 22 4 6 15 4 3 1 0 1 1 10

Foreign currency denominated

assets9 20,708 881 6,530 1,176 1,671 4,473 1,196 878 299 95 205 256 3,048

Other assets10 32,523 648 17,439 815 938 2,149 1,949 1,709 539 345 593 1,417 3,982

Interdistrict settlement account 0 + 3,815 - 60,410 - 3,194 + 9,669 - 2,076 + 35,195 - 7,492 + 9,184 + 2,501 - 1,859 + 15,501 - 835

Total assets 4,028,431 81,597 2,152,890 99,449 125,428 240,207 278,347 208,568 63,296 36,382 62,005 182,316 497,947

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, February 13, 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 1,869,117 57,643 618,964 54,761 89,338 125,920 260,501 121,592 55,817 31,379 49,728 153,602 249,871

Less: Notes held by F.R. Banks 207,231 6,471 54,885 7,664 9,986 14,867 33,210 14,564 5,232 3,142 6,366 18,345 32,498

Federal Reserve notes, net 1,661,886 51,172 564,079 47,096 79,353 111,052 227,291 107,028 50,585 28,237 43,363 135,257 217,373

Reverse repurchase agreements11 246,265 4,703 135,957 6,218 6,982 14,573 14,782 13,189 3,279 2,055 3,877 10,183 30,466

Deposits 2,075,494 23,861 1,437,986 43,678 35,776 105,703 33,578 86,362 8,681 5,606 14,245 36,139 243,879

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 1,634,417 23,846 1,039,941 43,675 35,744 105,177 33,523 44,153 8,671 5,553 14,234 36,031 243,871

U.S. Treasury, General Account 375,119 0 375,119 0 0 0 0 0 0 0 0 0 0

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

Other12 60,714 14 17,710 1 29 518 52 42,208 10 52 11 108 2

Deferred availability cash items 205 0 0 0 0 0 57 0 0 148 0 0 0

Earnings remittances due to the U.S.

Treasury13 668 0 436 1 2 5 62 33 10 8 12 47 52

Other liabilities and accrued

dividends 4,753 173 2,005 194 187 522 287 317 131 142 144 218 433

Total liabilities 3,989,271 79,910 2,140,463 97,186 122,300 231,856 276,058 206,929 62,686 36,195 61,640 181,844 492,203

Capital

Capital paid in 32,336 1,394 10,261 1,868 2,583 6,896 1,892 1,353 506 154 299 388 4,742

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 4,028,431 81,597 2,152,890 99,449 125,428 240,207 278,347 208,568 63,296 36,382 62,005 182,316 497,947

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, February 13, 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 Feb 13, 2019

Federal Reserve notes outstanding 1,869,117

Less: Notes held by F.R. Banks not subject to collateralization 207,231

Federal Reserve notes to be collateralized 1,661,886

Collateral held against Federal Reserve notes 1,661,886

Gold certificate account 11,037

Special drawing rights certificate account 5,200

U.S. Treasury, agency debt, and mortgage-backed securities pledged1,2 1,645,649

Other assets pledged 0

Memo:

Total U.S. Treasury, agency debt, and mortgage-backed securities1,2 3,829,969

Less: Face value of securities under reverse repurchase agreements 244,770

U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 3,585,199

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.