FEDERAL RESERVE statistical release

H.4.1

Factors Affecting Reserve Balances of Depository Institutions and     
Condition Statement of Federal Reserve Banks                                                 February 7, 2019


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 6, 2019 
Federal Reserve Banks                                      Feb 6, 2019 Jan 30, 2019  Feb 7, 2018              

Reserve Bank credit                                         3,986,333   -   14,486   -  393,126    3,987,152  
  Securities held outright (1)                              3,829,971   -   15,309   -  371,363    3,829,930  
    U.S. Treasury securities                                2,205,753   -   14,297   -  230,446    2,205,713  
      Bills (2)                                                     0            0            0            0  
      Notes and bonds, nominal (2)                          2,069,396   -   14,190   -  238,195    2,069,396  
      Notes and bonds, inflation-indexed (2)                  114,769            0   +    5,356      114,769  
      Inflation compensation (3)                               21,588   -      106   +    2,394       21,548  
    Federal agency debt securities (2)                          2,409            0   -    1,982        2,409  
    Mortgage-backed securities (4)                          1,621,809   -    1,013   -  138,934    1,621,809  
  Unamortized premiums on securities held outright (5)        138,375   -      286   -   18,787      138,281  
  Unamortized discounts on securities held outright (5)       -13,269   +       32   +      805      -13,258  
  Repurchase agreements (6)                                         0            0            0            0  
  Loans                                                            15   -        9   -        2           16  
    Primary credit                                                  4   -       14   -        4            2  
    Secondary credit                                                0            0            0            0  
    Seasonal credit                                                10   +        4   +        1           14  
    Other credit extensions                                         0            0            0            0  
  Net portfolio holdings of Maiden Lane LLC (7)                     0            0   -    1,715            0  
  Float                                                          -243   +       58   -       97         -192  
  Central bank liquidity swaps (8)                                 66   -       10   +       27           66  
  Other Federal Reserve assets (9)                             31,418   +    1,038   -    1,995       32,308  
Foreign currency denominated assets (10)                       20,989   +       51   -    1,058       20,894  
Gold stock                                                     11,041            0            0       11,041  
Special drawing rights certificate account                      5,200            0            0        5,200  
Treasury currency outstanding (11)                             49,871   +       14   +      431       49,871  
                                                                                                              
Total factors supplying reserve funds                       4,073,433   -   14,422   -  393,754    4,074,157  

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 6, 2019 
Federal Reserve Banks                                      Feb 6, 2019 Jan 30, 2019  Feb 7, 2018              

Currency in circulation (11)                                 1,703,445   +      750   +   94,405    1,705,408 
Reverse repurchase agreements (12)                             256,967   +    9,396   -   20,188      248,230 
  Foreign official and international accounts                  255,371   +   11,186   +   23,925      246,304 
  Others                                                         1,596   -    1,790   -   44,113        1,926 
Treasury cash holdings                                             260   +        9   -        8          267 
Deposits with F.R. Banks, other than reserve balances          420,514   -   54,625   +  131,595      417,800 
  Term deposits held by depository institutions                      0            0            0            0 
  U.S. Treasury, General Account                               352,375   -   50,901   +  148,439      353,896 
  Foreign official                                               5,244            0   -       10        5,244 
  Other (13)                                                    62,896   -    3,723   -   16,833       58,660 
Other liabilities and capital (14)                              43,692   -      969   -    3,269       43,589 
                                                                                                              
Total factors, other than reserve balances,               
    absorbing reserve funds                                  2,424,880   -   45,436   +  202,537    2,415,294 
                                                                                                              
Reserve balances with Federal Reserve Banks                  1,648,553   +   31,014   -  596,292    1,658,863 

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 6, 2019 
                                                           Feb 6, 2019 Jan 30, 2019  Feb 7, 2018              

Securities held in custody for foreign official and       
     international accounts                                  3,426,917   +   12,861   +   39,373    3,426,061 
  Marketable U.S. Treasury securities (1)                    3,037,125   +   11,467   -    8,813    3,036,368 
  Federal agency debt and mortgage-backed securities (2)       319,245   +      310   +   56,839      319,245 
  Other securities (3)                                          70,546   +    1,084   -    8,654       70,448 
Securities lent to dealers                                      22,452   +    3,216   -    4,039       19,177 
  Overnight facility (4)                                        22,452   +    3,216   -    4,039       19,177 
    U.S. Treasury securities                                    22,452   +    3,216   -    4,039       19,177 
    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 6, 2019    

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                                            2            14             0             0             0           ...            16 
U.S. Treasury securities (1)                                                                                                           
  Holdings                                  43,523        66,834       275,448       942,603       259,314       617,990     2,205,713 
  Weekly changes                        +   29,332    -   43,523    +   14,682    -   14,699    -       40    -       51    -   14,299 
Federal agency debt securities (2)                                                                                                     
  Holdings                                       0            62             0             0             0         2,347         2,409 
  Weekly changes                                 0             0             0             0             0             0             0 
Mortgage-backed securities (3)                                                                                                         
  Holdings                                       0             0             4           215        64,907     1,556,683     1,621,809 
  Weekly changes                                 0             0             0    +        7    +      435    -      443             0 
Repurchase agreements (4)                        0             0           ...           ...           ...           ...             0 
Central bank liquidity swaps (5)                66             0             0             0             0             0            66 
                                                                                                                                       
Reverse repurchase agreements (4)          248,230             0           ...           ...           ...           ...       248,230 
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 6, 2019  

Mortgage-backed securities held outright (1)                                                                             1,621,809  
                                                                                                                                    
Commitments to buy mortgage-backed securities (2)                                                                              400  
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 6, 2019   Wednesday    Wednesday  
                                                        consolidation                Jan 30, 2019  Feb 7, 2018 

Assets                                                                                                         
  Gold certificate account                                                   11,037            0            0  
  Special drawing rights certificate account                                  5,200            0            0  
  Coin                                                                        1,811   +       10   -      146  
  Securities, unamortized premiums and discounts,     
     repurchase agreements, and loans                                     3,954,970   -   14,542   -  389,403  
    Securities held outright (1)                                          3,829,930   -   14,299   -  371,397  
      U.S. Treasury securities                                            2,205,713   -   14,299   -  230,479  
        Bills (2)                                                                 0            0            0  
        Notes and bonds, nominal (2)                                      2,069,396   -   14,190   -  238,195  
        Notes and bonds, inflation-indexed (2)                              114,769            0   +    5,356  
        Inflation compensation (3)                                           21,548   -      108   +    2,361  
      Federal agency debt securities (2)                                      2,409            0   -    1,982  
      Mortgage-backed securities (4)                                      1,621,809            0   -  138,934  
    Unamortized premiums on securities held outright  
    (5)                                                                     138,281   -      257   -   18,797  
    Unamortized discounts on securities held outright 
    (5)                                                                     -13,258   +       31   +      805  
    Repurchase agreements (6)                                                     0            0            0  
    Loans                                                                        16   -       18   -       15  
  Net portfolio holdings of Maiden Lane LLC (7)                                   0            0   -    1,715  
  Items in process of collection                                   (0)           66   -       27   -       78  
  Bank premises                                                               2,199   -        8            0  
  Central bank liquidity swaps (8)                                               66   -       11   +       27  
  Foreign currency denominated assets (9)                                    20,894   -       57   -    1,026  
  Other assets (10)                                                          30,108   +    1,308   -    2,054  
                                                                                                               
Total assets                                                       (0)    4,026,350   -   13,328   -  394,395  

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 6, 2019   Wednesday    Wednesday  
                                                        consolidation                Jan 30, 2019  Feb 7, 2018 

Liabilities                                                                                                    
  Federal Reserve notes, net of F.R. Bank holdings                         1,657,611   +    2,034   +   92,278 
  Reverse repurchase agreements (11)                                         248,230   -    1,006   -   32,310 
  Deposits                                                          (0)    2,076,663   -   12,502   -  451,285 
    Term deposits held by depository institutions                                  0            0            0 
    Other deposits held by depository institutions                         1,658,863   +   49,723   -  581,151 
    U.S. Treasury, General Account                                           353,896   -   57,488   +  151,675 
    Foreign official                                                           5,244   +        2   -        9 
    Other (12)                                                      (0)       58,660   -    4,739   -   21,800 
  Deferred availability cash items                                  (0)          257   -      927   -       25 
  Other liabilities and accrued dividends (13)                                 4,438   -      938   -      700 
                                                                                                               
Total liabilities                                                   (0)    3,987,200   -   13,338   -  392,042 
                                                                                                               
Capital accounts                                                                                               
  Capital paid in                                                             32,326   +       11   +      823 
  Surplus                                                                      6,825            0   -    3,175 
  Other capital accounts                                                           0            0            0 
                                                                                                               
Total capital                                                                 39,151   +       11   -    2,352 

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 6, 2019
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         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                                             1,811          50          49          155         126         237         196         293          32          47         115         207         302
  Securities, unamortized premiums and      
     discounts, repurchase agreements,      
     and loans                                 3,954,970      75,535   2,183,442       99,854     112,124     234,039     237,403     211,827      52,654      33,010      62,260     163,536     489,285
    Securities held outright (1)               3,829,930      73,148   2,114,419       96,698     108,580     226,640     229,898     205,123      50,989      31,961      60,292     158,367     473,816
      U.S. Treasury securities                 2,205,713      42,127   1,217,724       55,690      62,533     130,526     132,402     118,133      29,365      18,407      34,723      91,206     272,878
        Bills (2)                                      0           0           0            0           0           0           0           0           0           0           0           0           0
        Notes and bonds (3)                    2,205,713      42,127   1,217,724       55,690      62,533     130,526     132,402     118,133      29,365      18,407      34,723      91,206     272,878
      Federal agency debt securities (2)           2,409          46       1,330           61          68         143         145         129          32          20          38         100         298
      Mortgage-backed securities (4)           1,621,809      30,975     895,364       40,947      45,979      95,972      97,352      86,861      21,592      13,534      25,531      67,061     200,641
    Unamortized premiums on securities held 
      outright (5)                               138,281       2,641      76,342        3,491       3,920       8,183       8,301       7,406       1,841       1,154       2,177       5,718      17,107
    Unamortized discounts on securities     
      held outright (5)                          -13,258        -253      -7,319         -335        -376        -785        -796        -710        -177        -111        -209        -548      -1,640
    Repurchase agreements (6)                          0           0           0            0           0           0           0           0           0           0           0           0           0
    Loans                                             16           0           1            0           0           0           0           8           0           6           0           0           1
  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                      66           0           0            0           0           0          65           0           0           0           0           0           0
  Bank premises                                    2,199         109         454           81         118         195         207         193         106          95         231         220         192
  Central bank liquidity swaps (8)                    66           3          21            4           5          14           4           3           1           0           1           1          10
  Foreign currency denominated                                                                                                                                                                           
     assets (9)                                   20,894         889       6,588        1,187       1,686       4,513       1,207         886         301          96         207         259       3,075
  Other assets (10)                               30,108         604      16,144          756         872       2,012       1,808       1,585         509         315         552       1,269       3,681
  Interdistrict settlement account                     0  +    5,929  -   41,253   -    3,620  +    4,661  -    8,669  +   36,069  -    5,813  +    9,062  +    2,430  -    1,965  +   11,652  -    8,484
                                                                                                                                                                                                         
Total assets                                   4,026,350      83,680   2,170,888       98,977     120,373     233,526     279,104     210,137      63,150      36,283      61,861     178,332     490,040

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 6, 2019 (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            1,867,743      57,686     619,184      54,806      89,408     125,982     260,828     121,680      55,851      31,397      49,746     151,047     250,129
    Less: Notes held by F.R. Banks               210,133       6,695      55,682       7,589      10,159      15,168      32,914      14,859       5,589       3,050       6,417      18,896      33,116
      Federal Reserve notes, net               1,657,611      50,991     563,503      47,217      79,249     110,814     227,914     106,821      50,262      28,347      43,329     132,151     217,013
  Reverse repurchase agreements (11)             248,230       4,741     137,042       6,267       7,037      14,689      14,900      13,295       3,305       2,071       3,908      10,264      30,710
  Deposits                                     2,076,663      26,094   1,456,291      43,044      30,763      99,160      33,586      88,081       8,820       5,349      14,089      35,197     236,190
    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                           1,658,863      26,078   1,079,366      43,041      30,731      98,797      33,550      47,816       8,810       5,298      14,074      35,119     236,183
    U.S. Treasury, General Account               353,896           0     353,896           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
    Other (12)                                    58,660          14      17,812           1          28         354          34      40,263          10          51          15          78           1
  Deferred availability cash items                   257           0           0           0           0           0          70           0           0         188           0           0           0
  Earnings remittances due to the U.S.      
     Treasury (13)                                   573          13         134          17          29          42          84          35          27           8          48          51          85
  Other liabilities and accrued             
     dividends                                     3,865         154       1,493         169         168         469         266         267         126         134         123         197         300
                                                                                                                                                                                                        
Total liabilities                              3,987,200      81,992   2,158,462      96,714     117,247     225,175     276,821     208,498      62,540      36,097      61,496     177,860     484,297
                                                                                                                                                                                                        
Capital                                                                                                                                                                                                 
  Capital paid in                                 32,326       1,393      10,260       1,868       2,581       6,896       1,886       1,353         506         154         298         388       4,741
  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                  4,026,350      83,680   2,170,888      98,977     120,373     233,526     279,104     210,137      63,150      36,283      61,861     178,332     490,040

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 6, 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).
                                                                                                                                        



6. Collateral Held against Federal Reserve Notes: Federal Reserve Agents' Accounts
Millions of dollars
Federal Reserve notes and collateral                                                        Wednesday   
                                                                                           Feb 6, 2019  

Federal Reserve notes outstanding                                                            1,867,743  
  Less: Notes held by F.R. Banks not subject to collateralization                              210,133  
    Federal Reserve notes to be collateralized                                               1,657,611  
Collateral held against Federal Reserve notes                                                1,657,611  
  Gold certificate account                                                                      11,037  
  Special drawing rights certificate account                                                     5,200  
  U.S. Treasury, agency debt, and mortgage-backed securities pledged (1,2)                   1,641,374  
  Other assets pledged                                                                               0  
Memo:                                                                                                   
Total U.S. Treasury, agency debt, and mortgage-backed securities (1,2)                       3,829,930  
  Less: Face value of securities under reverse repurchase agreements                           246,764  
    U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged        3,583,166  

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.