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
Reserve Bank credit, related items, and                          Averages of daily figures         Wednesday  
reserve balances of depository institutions at             Week ended    Change from week ended  Feb 13, 2019 
Federal Reserve Banks                                     Feb 13, 2019  Feb 6, 2019 Feb 14, 2018              

Reserve Bank credit                                         3,988,586   +    2,253   -  396,487    3,989,473  
  Securities held outright (1)                              3,829,883   -       88   -  374,619    3,829,969  
    U.S. Treasury securities                                2,205,644   -      109   -  230,536    2,205,604  
      Bills (2)                                                     0            0            0            0  
      Notes and bonds, nominal (2)                          2,069,396            0   -  238,195    2,069,396  
      Notes and bonds, inflation-indexed (2)                  114,769            0   +    5,356      114,769  
      Inflation compensation (3)                               21,479   -      109   +    2,304       21,439  
    Federal agency debt securities (2)                          2,409            0   -    1,982        2,409  
    Mortgage-backed securities (4)                          1,621,830   +       21   -  142,101    1,621,956  
  Unamortized premiums on securities held outright (5)        138,154   -      221   -   18,842      138,063  
  Unamortized discounts on securities held outright (5)       -13,238   +       31   +      807      -13,226  
  Repurchase agreements (6)                                         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 LLC (7)                     0            0   -    1,715            0  
  Float                                                          -122   +      121   +       34         -145  
  Central bank liquidity swaps (8)                                 71   +        5   +        9           71  
  Other Federal Reserve assets (9)                             33,818   +    2,400   -    2,163       34,723  
Foreign currency denominated assets (10)                       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 outstanding (11)                             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.





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 13, 2019 
Federal Reserve Banks                                     Feb 13, 2019  Feb 6, 2019 Feb 14, 2018              

Currency in circulation (11)                                 1,706,126   +    2,719   +   92,485    1,709,649 
Reverse repurchase agreements (12)                             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 
  Other (13)                                                    61,118   -    1,778   -   26,717       60,714 
Other liabilities and capital (14)                              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.





1A. Memorandum Items
Millions of dollars
Memorandum item                                                  Averages of daily figures         Wednesday  
                                                           Week ended    Change from week ended  Feb 13, 2019 
                                                          Feb 13, 2019  Feb 6, 2019 Feb 14, 2018              

Securities held in custody for foreign official and       
     international accounts                                  3,426,818   -       99   +   28,152    3,433,576 
  Marketable U.S. Treasury securities (1)                    3,036,211   -      914   -   20,737    3,037,766 
  Federal agency debt and mortgage-backed securities (2)       320,127   +      882   +   57,604      325,160 
  Other securities (3)                                          70,480   -       66   -    8,715       70,650 
Securities lent to dealers                                      18,665   -    3,787   -    9,790       18,131 
  Overnight facility (4)                                        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     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                                            3            15             0             0             0           ...            18 
U.S. Treasury securities (1)                                                                                                           
  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 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     1,556,830     1,621,956 
  Weekly changes                                 0             0             0             0             0    +      147    +      147 
Repurchase agreements (4)                        0             0           ...           ...           ...           ...             0 
Central bank liquidity swaps (5)                71             0             0             0             0             0            71 
                                                                                                                                       
Reverse repurchase agreements (4)          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.     
                                                                                                            






3. Supplemental Information on Mortgage-Backed Securities
Millions of dollars
Account name                                                                                                            Wednesday   
                                                                                                                      Feb 13, 2019  

Mortgage-backed securities held outright (1)                                                                             1,621,956  
                                                                                                                                    
Commitments to buy mortgage-backed securities (2)                                                                              279  
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 13, 2019   Wednesday    Wednesday  
                                                        consolidation                 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 outright (1)                                          3,829,969   +       39   -  382,522  
      U.S. Treasury securities                                            2,205,604   -      109   -  230,569  
        Bills (2)                                                                 0            0            0  
        Notes and bonds, nominal (2)                                      2,069,396            0   -  238,195  
        Notes and bonds, inflation-indexed (2)                              114,769            0   +    5,356  
        Inflation compensation (3)                                           21,439   -      109   +    2,271  
      Federal agency debt securities (2)                                      2,409            0   -    1,982  
      Mortgage-backed securities (4)                                      1,621,956   +      147   -  149,971  
    Unamortized premiums on securities held outright  
    (5)                                                                     138,063   -      218   -   19,032  
    Unamortized discounts on securities held outright 
    (5)                                                                     -13,226   +       32   +      810  
    Repurchase agreements (6)                                                     0            0            0  
    Loans                                                                        18   +        2   +        1  
  Net portfolio holdings of Maiden Lane LLC (7)                                   0            0   -    1,715  
  Items in process of collection                                   (0)           60   -        6   -       40  
  Bank premises                                                               2,201   +        2   -        1  
  Central bank liquidity swaps (8)                                               71   +        5   +        9  
  Foreign currency denominated assets (9)                                    20,708   -      186   -    1,540  
  Other assets (10)                                                          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.





4. Consolidated Statement of Condition of All Federal Reserve Banks (continued)
Millions of dollars
Assets, liabilities, and capital                         Eliminations     Wednesday         Change since       
                                                             from       Feb 13, 2019   Wednesday    Wednesday  
                                                        consolidation                 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 agreements (11)                                         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 
    Other (12)                                                      (0)       60,714   +    2,054   -   46,464 
  Deferred availability cash items                                  (0)          205   -       52   -       18 
  Other liabilities and accrued dividends (13)                                 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.                               

 



5. Statement of Condition of Each Federal Reserve Bank, February 13, 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                                             1,809          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 outright (1)               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
        Bills (2)                                      0           0           0            0           0           0           0           0           0           0           0           0           0
        Notes and bonds (3)                    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 securities (2)           2,409          46       1,330           61          68         143         145         129          32          20          38         100         298
      Mortgage-backed securities (4)           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 
      outright (5)                               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 outright (5)                          -13,226        -253      -7,302         -334        -375        -783        -794        -708        -176        -110        -208        -547      -1,636
    Repurchase agreements (6)                          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 LLC (7)                                      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 swaps (8)                    71           3          22            4           6          15           4           3           1           0           1           1          10
  Foreign currency denominated                                                                                                                                                                           
     assets (9)                                   20,708         881       6,530        1,176       1,671       4,473       1,196         878         299          95         205         256       3,048
  Other assets (10)                               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.





5. Statement of Condition of Each Federal Reserve Bank, February 13, 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            1,869,117      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 agreements (11)             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
    Other (12)                                    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.      
     Treasury (13)                                   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.





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).
                                                                                                                                        



6. Collateral Held against Federal Reserve Notes: Federal Reserve Agents' Accounts
Millions of dollars
Federal Reserve notes and collateral                                                        Wednesday   
                                                                                          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 pledged (1,2)                   1,645,649  
  Other assets pledged                                                                               0  
Memo:                                                                                                   
Total U.S. Treasury, agency debt, and mortgage-backed securities (1,2)                       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.