FEDERAL RESERVE statistical release

H.4.1

Factors Affecting Reserve Balances of Depository Institutions and

Condition Statement of Federal Reserve Banks April 21, 2016

1. Factors Affecting Reserve Balances of Depository Institutions

Millions of dollars

Averages of daily figures

Change from week ended

Reserve Bank credit, related items, and

reserve balances of depository institutions at

Federal Reserve Banks

Week ended

Apr 20, 2016 Apr 13, 2016 Apr 22, 2015

Wednesday

Apr 20, 2016

Reserve Bank credit 4,451,709 + 3,716 + 4,338 4,450,705

Securities held outright1 4,248,800 + 3,234 + 19,762 4,248,103

U.S. Treasury securities 2,461,382 + 23 + 1,504 2,461,390

Bills2 0 0 0 0

Notes and bonds, nominal2 2,342,235 + 337 - 4,474 2,342,292

Notes and bonds, inflation-indexed2 103,186 - 315 + 4,718 103,134

Inflation compensation3 15,960 0 + 1,259 15,965

Federal agency debt securities2 28,331 - 926 - 7,564 27,096

Mortgage-backed securities4 1,759,088 + 4,138 + 25,823 1,759,617

Unamortized premiums on securities held outright5 184,918 - 224 - 16,888 184,786

Unamortized discounts on securities held outright5 -16,296 + 34 + 1,566 -16,284

Repurchase agreements6 0 0 0 0

Loans 49 + 8 + 3 64

Primary credit 5 + 4 - 8 9

Secondary credit 0 0 0 0

Seasonal credit 44 + 5 + 11 54

Other credit extensions 0 0 0 0

Net portfolio holdings of Maiden Lane LLC7 1,722 0 + 28 1,722

Float -231 - 77 + 224 -248

Central bank liquidity swaps8 33 - 12 + 33 33

Other Federal Reserve assets9 32,714 + 753 - 389 32,530

Foreign currency denominated assets10 20,933 - 129 + 1,356 20,915

Gold stock 11,041 0 0 11,041

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

Treasury currency outstanding11 47,770 + 14 + 1,030 47,770

Total factors supplying reserve funds 4,536,653 + 3,602 + 6,724 4,535,631

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

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

Millions of dollars

Averages of daily figures

Change from week ended

Reserve Bank credit, related items, and

reserve balances of depository institutions at

Federal Reserve Banks

Week ended

Apr 20, 2016 Apr 13, 2016 Apr 22, 2015

Wednesday

Apr 20, 2016

Currency in circulation11 1,444,296 - 213 + 84,519 1,445,608

Reverse repurchase agreements12 268,999 + 6,618 + 8,831 268,513

Foreign official and international accounts 240,526 + 486 + 84,473 236,542

Others 28,472 + 6,130 - 75,643 31,971

Treasury cash holdings 179 - 17 - 53 157

Deposits with F.R. Banks, other than reserve balances 305,846 + 25,126 + 141,390 370,295

Term deposits held by depository institutions 0 0 0 0

U.S. Treasury, General Account 268,785 + 29,150 + 118,757 337,540

Foreign official 5,176 0 - 62 5,173

Other13 31,886 - 4,022 + 22,697 27,582

Other liabilities and capital14 47,083 - 1,332 - 19,166 46,393

Total factors, other than reserve balances,

absorbing reserve funds 2,066,403 + 30,182 + 215,522 2,130,966

Reserve balances with Federal Reserve Banks 2,470,250 - 26,580 - 208,797 2,404,665

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 and Federal agency debt securities, amortization is on a straight-line basis. For mortgage-backed securities,

amortization is on an effective-interest basis.

6. Cash value of agreements.

7. Refer to table 4 and the note on consolidation accompanying table 6.

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, and designated

financial market utilities.

14. Includes the liability for earnings remittances due to the U.S. Treasury.

Sources: Federal Reserve Banks and the U.S. Department of the Treasury.
H.4.1

1A. Memorandum Items

Millions of dollars

Averages of daily figures

Memorandum item Week ended Change from week ended

Apr 20, 2016 Apr 13, 2016 Apr 22, 2015

Wednesday

Apr 20, 2016

Securities held in custody for foreign official and international

accounts 3,241,979 - 1,445 - 46,660 3,235,045

Marketable U.S. Treasury securities1 2,928,597 - 227 - 35,441 2,923,156

Federal agency debt and mortgage-backed securities2 265,498 - 1,165 - 15,273 263,377

Other securities3 47,884 - 53 + 4,054 48,512

Securities lent to dealers 17,282 - 1,194 + 7,690 17,802

Overnight facility4 17,282 - 1,194 + 7,690 17,802

U.S. Treasury securities 17,221 - 1,211 + 7,938 17,737

Federal agency debt securities 61 + 17 - 249 65

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, 5, and 6.

2. Face value of federal agency securities and current face value of mortgage-backed securities, which is the remaining principal balance of the

securities.

3. Includes non-marketable U.S. Treasury securities, supranationals, corporate bonds, asset-backed securities, and commercial paper at face value.

4. Face value. Fully collateralized by U.S. Treasury securities.

2. Maturity Distribution of Securities, Loans, and Selected Other Assets and Liabilities, April 20, 2016

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 59 4 0 0 0 ... 64

U.S. Treasury securities1

Holdings 27,371 56,443 114,430 1,156,458 474,318 632,370 2,461,390

Weekly changes + 26,977 - 23,764 - 3,157 - 276 + 144 + 99 + 22

Federal agency debt securities2

Holdings 0 4,604 10,663 9,482 0 2,347 27,096

Weekly changes - 2,161 + 2,604 - 1,104 - 1,500 0 0 - 2,161

Mortgage-backed securities3

Holdings 0 0 0 879 9,098 1,749,640 1,759,617

Weekly changes 0 0 0 + 21 + 346 - 6,873 - 6,506

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

Central bank liquidity swaps5 33 0 0 0 0 0 33

Reverse repurchase agreements4 268,513 0 ... ... ... ... 268,513

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 Apr 20, 2016

Mortgage-backed securities held outright1 1,759,617

Commitments to buy mortgage-backed securities2 17,326

Commitments to sell mortgage-backed securities2 0

Cash and cash equivalents3 2

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 5 and table 6.

4. Information on Principal Accounts of Maiden Lane LLC

Millions of dollars

Wednesday Account name Apr 20, 2016

Net portfolio holdings of Maiden Lane LLC1 1,722

Outstanding principal amount of loan extended by the Federal Reserve Bank of New York2 0

Accrued interest payable to the Federal Reserve Bank of New York2 0

Outstanding principal amount and accrued interest on loan payable to JPMorgan Chase & Co.3 0

1. Fair value. Fair value reflects an estimate of the price that would be received upon selling an asset if the transaction were to be conducted in an

orderly market on the measurement date. Revalued quarterly. This table reflects valuations as of December 31, 2015. Any assets purchased after

this valuation date are initially recorded at cost until their estimated fair value as of the purchase date becomes available.

2. Book value. This amount was eliminated when preparing the Federal Reserve Bank of New York’s statement of condition consistent with

consolidation under generally accepted accounting principles. Refer to the note on consolidation accompanying table 6.

3. Book value. The fair value of these obligations is included in other liabilities and capital in table 1 and in other liabilities and accrued dividends in

table 5 and table 6.

Note: On June 26, 2008, the Federal Reserve Bank of New York (FRBNY) extended credit to Maiden Lane LLC under the authority of section 13(3) of

the Federal Reserve Act. This limited liability company was formed to acquire certain assets of Bear Stearns and to manage those assets through time

to maximize repayment of the credit extended and to minimize disruption to financial markets. The remaining outstanding balances of the senior loan

from FRBNY to Maiden Lane LLC, and the subordinated loan from JPMorgan Chase & Co. to Maiden Lane LLC were repaid in full, with interest.
H.4.1

5. Consolidated Statement of Condition of All Federal Reserve Banks

Millions of dollars

Change since

Assets, liabilities, and capital Wednesday Wednesday Eliminations from

consolidation

Wednesday

Apr 20, 2016 Apr 13, 2016 Apr 22, 2015

Assets

Gold certificate account 11,037 0 0

Special drawing rights certificate account 5,200 0 0

Coin 1,877 + 3 + 68

Securities, unamortized premiums and discounts,

repurchase agreements, and loans 4,416,669 - 9,158 - 203

Securities held outright1 4,248,103 - 8,645 + 15,218

U.S. Treasury securities 2,461,390 + 22 + 1,470

Bills2 0 0 0

Notes and bonds, nominal2 2,342,292 + 394 - 4,417

Notes and bonds, inflation-indexed2 103,134 - 367 + 4,666

Inflation compensation3 15,965 - 4 + 1,222

Federal agency debt securities2 27,096 - 2,161 - 8,799

Mortgage-backed securities4 1,759,617 - 6,506 + 22,547

Unamortized premiums on securities held outright5 184,786 - 571 - 16,989

Unamortized discounts on securities held outright5 -16,284 + 34 + 1,566

Repurchase agreements6 0 0 0

Loans 64 + 23 + 3

Net portfolio holdings of Maiden Lane LLC7 1,722 0 + 28

Items in process of collection (0) 148 - 21 + 68

Bank premises 2,222 0 - 23

Central bank liquidity swaps8 33 - 12 + 33

Foreign currency denominated assets9 20,915 + 31 + 1,415

Other assets10 30,308 - 441 - 951

Total assets (0) 4,490,131 - 9,598 + 436

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

5. Consolidated Statement of Condition of All Federal Reserve Banks (continued)

Millions of dollars

Change since

Assets, liabilities, and capital Wednesday Wednesday Eliminations from

consolidation

Wednesday

Apr 20, 2016 Apr 13, 2016 Apr 22, 2015

Liabilities

Federal Reserve notes, net of F.R. Bank holdings 1,399,868 + 591 + 84,830

Reverse repurchase agreements11 268,513 + 9,977 - 6,877

Deposits (0) 2,774,960 - 17,604 - 57,379

Term deposits held by depository institutions 0 0 0

Other deposits held by depository institutions 2,404,665 - 105,180 - 212,715

U.S. Treasury, General Account 337,540 + 99,612 + 136,467

Foreign official 5,173 - 24 - 58

Other12 (0) 27,582 - 12,012 + 18,926

Deferred availability cash items (0) 397 - 8 - 157

Other liabilities and accrued dividends13 6,359 - 2,531 - 2,314

Total liabilities (0) 4,450,097 - 9,575 + 18,104

Capital accounts

Capital paid in 30,034 - 23 + 1,183

Surplus 10,000 0 - 18,851

Other capital accounts 0 0 0

Total capital 40,034 - 23 - 17,668

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 and Federal agency debt securities, amortization is on a straight-line basis. For 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 table 4 and the note on consolidation accompanying table 6.

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, and designated

financial market utilities.

13. Includes the liability for earnings remittances due to the U.S. Treasury.
H.4.1

6. Statement of Condition of Each Federal Reserve Bank, April 20, 2016

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 11,037 355 3,588 359 586 760 1,541 753 360 193 296 875 1,371

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

Coin 1,877 52 81 130 136 296 178 279 24 58 150 185 307

Securities, unamortized premiums and

discounts, repurchase agreements,

and loans 4,416,669 108,497 2,513,345 119,921 132,271 269,916 247,197 175,996 55,760 32,572 61,478 157,208 542,509

Securities held outright1 4,248,103 104,356 2,417,456 115,345 127,224 259,617 237,763 169,265 53,614 31,319 59,122 151,210 521,811

U.S. Treasury securities 2,461,390 60,465 1,400,696 66,832 73,714 150,425 137,762 98,074 31,065 18,147 34,256 87,613 302,342

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

Notes and bonds3 2,461,390 60,465 1,400,696 66,832 73,714 150,425 137,762 98,074 31,065 18,147 34,256 87,613 302,342

Federal agency debt securities2 27,096 666 15,419 736 811 1,656 1,517 1,080 342 200 377 964 3,328

Mortgage-backed securities4 1,759,617 43,225 1,001,340 47,777 52,698 107,537 98,484 70,112 22,208 12,973 24,489 62,633 216,141

Unamortized premiums on securities 

held outright5 184,786 4,539 105,156 5,017 5,534 11,293 10,342 7,363 2,332 1,362 2,572 6,577 22,698

Unamortized discounts on securities 

held outright5 -16,284 -400 -9,267 -442 -488 -995 -911 -649 -206 -120 -227 -580 -2,000

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

Loans 64 2 0 0 1 1 3 17 19 10 11 0 0

Net portfolio holdings of Maiden

Lane LLC7 1,722 0 1,722 0 0 0 0 0 0 0 0 0 0

Items in process of collection 148 0 0 0 0 0 147 0 0 1 0 0 0

Bank premises 2,222 122 432 74 105 209 206 202 116 91 241 226 198

Central bank liquidity swaps8 33 1 11 2 3 7 2 1 0 0 0 0 5

Foreign currency denominated

assets9 20,915 924 6,903 1,151 1,593 4,664 1,161 561 215 89 209 265 3,181

Other assets10 30,308 785 16,745 831 912 2,030 1,709 1,215 465 246 472 1,158 3,739

Interdistrict settlement account 0 - 27,791 + 50,037 - 24 - 14,617 - 23,911 + 7,793 + 6,312 + 735 - 354 - 2,398 + 8,788 - 4,570

Total assets 4,490,131 83,142 2,594,681 122,653 121,226 254,384 260,588 185,743 57,826 32,986 60,601 168,987 547,314

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

6. Statement of Condition of Each Federal Reserve Bank, April 20, 2016 (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 1,569,663 49,094 499,752 49,427 81,936 108,460 222,825 105,477 50,797 27,121 39,974 130,317 204,483

Less: Notes held by F.R. Banks 169,795 5,198 57,965 5,652 8,871 11,839 22,797 10,080 4,822 2,397 4,881 12,724 22,568

Federal Reserve notes, net 1,399,868 43,896 441,787 43,776 73,065 96,620 200,028 95,397 45,975 24,724 35,092 117,593 181,915

Reverse repurchase agreements11 268,513 6,596 152,802 7,291 8,042 16,410 15,028 10,699 3,389 1,980 3,737 9,558 32,983

Deposits 2,774,960 30,711 1,983,864 69,199 36,860 131,950 42,822 77,853 7,896 5,662 21,236 41,064 325,843

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 2,404,665 30,708 1,620,941 69,196 36,857 131,685 42,813 70,784 7,888 5,662 21,235 41,063 325,832

U.S. Treasury, General Account 337,540 0 337,540 0 0 0 0 0 0 0 0 0 0

Foreign official 5,173 2 5,146 2 3 9 2 1 0 0 0 1 6

Other12 27,582 2 20,236 0 0 256 7 7,068 8 0 1 0 5

Deferred availability cash items 397 0 0 0 0 0 88 0 0 308 0 0 0

Earnings remittances due to the U.S.

Treasury13 1,494 41 848 39 47 88 92 56 19 10 20 56 179

Other liabilities and accrued

dividends 4,864 151 2,258 195 198 511 322 253 131 133 120 207 385

Total liabilities 4,450,097 81,395 2,581,560 120,499 118,212 245,580 258,380 184,258 57,410 32,816 60,205 168,477 541,305

Capital

Capital paid in 30,034 1,305 9,822 1,604 2,252 6,573 1,652 1,218 313 128 296 383 4,488

Surplus 10,000 442 3,299 550 762 2,230 555 268 103 43 100 127 1,521

Other capital 0 0 0 0 0 0 0 0 0 0 0 0 0

Total liabilities and capital 4,490,131 83,142 2,594,681 122,653 121,226 254,384 260,588 185,743 57,826 32,986 60,601 168,987 547,314

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

6. Statement of Condition of Each Federal Reserve Bank, April 20, 2016 (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 and Federal

agency debt securities, amortization is on a straight-line basis. For 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 table 4 and 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, and designated financial market utilities.

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 $10 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. 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 5), 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 5).
H.4.1

7. Collateral Held against Federal Reserve Notes: Federal Reserve Agents’ Accounts

Millions of dollars

Wednesday Federal Reserve notes and collateral Apr 20, 2016

Federal Reserve notes outstanding 1,569,663

Less: Notes held by F.R. Banks not subject to collateralization 169,795

Federal Reserve notes to be collateralized 1,399,868

Collateral held against Federal Reserve notes 1,399,868

Gold certificate account 11,037

Special drawing rights certificate account 5,200

U.S. Treasury, agency debt, and mortgage-backed securities pledged1,2 1,383,632

Other assets pledged 0

Memo:

Total U.S. Treasury, agency debt, and mortgage-backed securities1,2 4,248,103

Less: Face value of securities under reverse repurchase agreements 251,652

U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 3,996,451

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.