FEDERAL RESERVE statistical release

H.4.1

Factors Affecting Reserve Balances of Depository Institutions and

Condition Statement of Federal Reserve Banks September 12, 2019

1. Factors Affecting Reserve Balances of Depository Institutions

Millions of dollars

Averages of daily figures

Change from week ended

Reserve Bank credit, related items, and

reserve balances of depository institutions at

Federal Reserve Banks

Week ended

Sep 11, 2019 Sep 4, 2019 Sep 12, 2018

Wednesday

Sep 11, 2019

Reserve Bank credit 3,726,610 + 4,648 - 443,946 3,730,920

Securities held outright1 3,590,108 + 3,016 - 422,512 3,593,121

U.S. Treasury securities 2,098,156 + 3,016 - 215,047 2,101,169

Bills2 3,001 0 + 2,901 3,001

Notes and bonds, nominal2 1,954,203 + 2,401 - 221,399 1,955,803

Notes and bonds, inflation-indexed2 117,002 + 457 + 1,423 118,146

Inflation compensation3 23,950 + 158 + 2,028 24,219

Federal agency debt securities2 2,347 0 - 62 2,347

Mortgage-backed securities4 1,489,605 0 - 207,403 1,489,605

Unamortized premiums on securities held outright5 127,939 + 252 - 18,181 128,311

Unamortized discounts on securities held outright5 -12,818 + 108 + 940 -12,739

Repurchase agreements6 0 0 0 0

Loans 88 - 9 - 183 83

Primary credit 1 0 - 41 2

Secondary credit 0 0 0 0

Seasonal credit 87 - 10 - 142 81

Other credit extensions 0 0 0 0

Net portfolio holdings of Maiden Lane LLC7 0 0 - 1,719 0

Float -169 + 353 - 6 -141

Central bank liquidity swaps8 40 - 832 - 51 40

Other Federal Reserve assets9 21,422 + 1,761 - 2,234 22,246

Foreign currency denominated assets10 20,715 - 83 - 312 20,623

Gold stock 11,041 0 0 11,041

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

Treasury currency outstanding11 50,039 + 14 + 366 50,039

Total factors supplying reserve funds 3,813,605 + 4,579 - 443,892 3,817,823

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

Sep 11, 2019 Sep 4, 2019 Sep 12, 2018

Wednesday

Sep 11, 2019

Currency in circulation11 1,766,301 + 5,592 + 79,408 1,765,344

Reverse repurchase agreements12 291,974 - 9,727 + 61,582 294,250

Foreign official and international accounts 290,014 - 4,310 + 60,113 290,638

Others 1,960 - 5,417 + 1,470 3,612

Treasury cash holdings 163 + 5 - 45 164

Deposits with F.R. Banks, other than reserve balances 253,102 + 38,344 - 120,725 254,318

Term deposits held by depository institutions 0 0 0 0

U.S. Treasury, General Account 185,342 + 36,602 - 118,312 183,581

Foreign official 5,256 - 14 0 5,256

Other13 62,504 + 1,755 - 2,413 65,481

Other liabilities and capital14 45,269 + 1,124 + 68 45,081

Total factors, other than reserve balances,

absorbing reserve funds 2,356,809 + 35,338 + 20,288 2,359,157

Reserve balances with Federal Reserve Banks 1,456,796 - 30,759 - 464,180 1,458,666

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

1. Includes securities lent to dealers under the overnight securities lending facility; refer to table 1A.

2. Face value of the securities.

3. Compensation that adjusts for the effect of inflation on the original face value of inflation-indexed securities.

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

the securities.

5. Reflects the premium or discount, which is the difference between the purchase price and the face value of the securities that has not been

amortized. For U.S. Treasury securities, Federal agency debt securities, and mortgage-backed securities, amortization is on an effective-interest

basis.

6. Cash value of agreements.

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

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

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

foreign central bank.

9. Includes accrued interest, which represents the daily accumulation of interest earned, and other accounts receivable. Also, includes Reserve

Bank premises and equipment net of allowances for depreciation.

10. Revalued daily at current foreign currency exchange rates.

11. Estimated.

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

13. Includes deposits held at the Reserve Banks by international and multilateral organizations, government-sponsored enterprises, designated financial

market utilities, and deposits held by depository institutions in joint accounts in connection with their participation in certain private-sector payment

arrangements. Also includes certain deposit accounts other than the U.S. Treasury, General Account, for services provided by the Reserve Banks

as fiscal agents of the United States.

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

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

1A. Memorandum Items

Millions of dollars

Averages of daily figures

Memorandum item Week ended Change from week ended

Sep 11, 2019 Sep 4, 2019 Sep 12, 2018

Wednesday

Sep 11, 2019

Securities held in custody for foreign official and international

accounts 3,453,061 + 2,050 + 31,255 3,462,033

Marketable U.S. Treasury securities1 3,011,694 + 1,312 - 42,266 3,020,587

Federal agency debt and mortgage-backed securities2 359,935 + 10 + 61,405 359,930

Other securities3 81,432 + 728 + 12,117 81,516

Securities lent to dealers 33,884 + 5,733 + 16,513 32,771

Overnight facility4 33,884 + 5,733 + 16,513 32,771

U.S. Treasury securities 33,884 + 5,733 + 16,513 32,771

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, September 11, 2019

Millions of dollars

Remaining Maturity Within 15

days

16 days to

90 days

91 days to

1 year

Over 1 year

to 5 years

Over 5 year

to 10 years

Over 10

years

All

Loans 29 54 0 0 0 ... 83

U.S. Treasury securities1

Holdings 50 78,951 265,487 837,872 297,554 621,254 2,101,169

Weekly changes 0 0 + 3 + 885 + 2,548 + 2,569 + 6,005

Federal agency debt securities2

Holdings 0 0 0 0 486 1,861 2,347

Weekly changes 0 0 0 0 0 0 0

Mortgage-backed securities3

Holdings 0 0 9 614 77,602 1,411,381 1,489,605

Weekly changes 0 0 0 0 0 0 0

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

Central bank liquidity swaps5 40 0 0 0 0 0 40

Reverse repurchase agreements4 294,250 0 ... ... ... ... 294,250

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 Sep 11, 2019

Mortgage-backed securities held outright1 1,489,605

Commitments to buy mortgage-backed securities2 5,603

Commitments to sell mortgage-backed securities2 0

Cash and cash equivalents3 5

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

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

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

4. Consolidated Statement of Condition of All Federal Reserve Banks

Millions of dollars

Change since

Assets, liabilities, and capital Wednesday Wednesday Eliminations from

consolidation

Wednesday

Sep 11, 2019 Sep 4, 2019 Sep 12, 2018

Assets

Gold certificate account 11,037 0 0

Special drawing rights certificate account 5,200 0 0

Coin 1,706 + 4 - 53

Securities, unamortized premiums and discounts,

repurchase agreements, and loans 3,708,775 + 6,939 - 436,477

Securities held outright1 3,593,121 + 6,005 - 419,508

U.S. Treasury securities 2,101,169 + 6,005 - 212,035

Bills2 3,001 0 + 2,901

Notes and bonds, nominal2 1,955,803 + 4,001 - 219,799

Notes and bonds, inflation-indexed2 118,146 + 1,601 + 2,567

Inflation compensation3 24,219 + 403 + 2,296

Federal agency debt securities2 2,347 0 - 62

Mortgage-backed securities4 1,489,605 0 - 207,411

Unamortized premiums on securities held outright5 128,311 + 727 - 17,742

Unamortized discounts on securities held outright5 -12,739 + 218 + 1,008

Repurchase agreements6 0 0 0

Loans 83 - 10 - 234

Net portfolio holdings of Maiden Lane LLC7 0 0 - 1,720

Items in process of collection (0) 45 - 42 - 98

Bank premises 2,184 0 + 4

Central bank liquidity swaps8 40 - 832 - 51

Foreign currency denominated assets9 20,623 - 144 - 431

Other assets10 20,062 + 2,239 - 2,314

Total assets (0) 3,769,673 + 8,165 - 441,139

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

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

Millions of dollars

Change since

Assets, liabilities, and capital Wednesday Wednesday Eliminations from

consolidation

Wednesday

Sep 11, 2019 Sep 4, 2019 Sep 12, 2018

Liabilities

Federal Reserve notes, net of F.R. Bank holdings 1,717,172 - 409 + 77,996

Reverse repurchase agreements11 294,250 - 8,376 + 64,704

Deposits (0) 1,712,985 + 16,531 - 583,688

Term deposits held by depository institutions 0 0 0

Other deposits held by depository institutions 1,458,667 + 4,213 - 465,342

U.S. Treasury, General Account 183,581 + 8,802 - 114,116

Foreign official 5,256 + 1 0

Other12 (0) 65,481 + 3,515 - 4,230

Deferred availability cash items (0) 187 - 413 - 175

Other liabilities and accrued dividends13 5,825 + 828 - 243

Total liabilities (0) 3,730,417 + 8,159 - 441,408

Capital accounts

Capital paid in 32,431 + 6 + 270

Surplus 6,825 0 0

Other capital accounts 0 0 0

Total capital 39,256 + 6 + 270

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

1. Includes securities lent to dealers under the overnight securities lending facility; refer to table 1A.

2. Face value of the securities.

3. Compensation that adjusts for the effect of inflation on the original face value of inflation-indexed securities.

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

5. Reflects the premium or discount, which is the difference between the purchase price and the face value of the securities that has not been

amortized. For U.S. Treasury securities, Federal agency debt securities, and mortgage-backed securities, amortization is on an effective-interest

basis.

6. Cash value of agreements, which are collateralized by U.S. Treasury and federal agency securities.

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

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

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

central bank.

9. Revalued daily at current foreign currency exchange rates.

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

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

12. Includes deposits held at the Reserve Banks by international and multilateral organizations, government-sponsored enterprises, designated financial

market utilities, and deposits held by depository institutions in joint accounts in connection with their participation in certain private-sector payment

arrangements. Also includes certain deposit accounts other than the U.S. Treasury, General Account, for services provided by the Reserve Banks

as fiscal agents of the United States.

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

5. Statement of Condition of Each Federal Reserve Bank, September 11, 2019

Millions of dollars

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

Assets

Gold certificate account 11,037 351 3,707 327 531 754 1,560 711 328 186 292 890 1,400

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

Coin 1,706 44 52 151 109 215 176 280 35 46 112 197 289

Securities, unamortized premiums and

discounts, repurchase agreements,

and loans 3,708,775 76,941 2,023,354 89,812 108,507 226,960 253,578 194,676 53,325 32,139 54,994 161,039 433,449

Securities held outright1 3,593,121 74,543 1,960,302 87,013 105,126 219,886 245,673 188,608 51,643 31,092 53,280 156,018 419,938

U.S. Treasury securities 2,101,169 43,591 1,146,336 50,883 61,475 128,584 143,663 110,293 30,199 18,182 31,157 91,235 245,569

Bills2 3,001 62 1,637 73 88 184 205 158 43 26 44 130 351

Notes and bonds3 2,098,168 43,529 1,144,699 50,810 61,387 128,400 143,458 110,136 30,156 18,156 31,112 91,105 245,219

Federal agency debt securities2 2,347 49 1,280 57 69 144 160 123 34 20 35 102 274

Mortgage-backed securities4 1,489,605 30,904 812,685 36,073 43,582 91,159 101,849 78,191 21,410 12,890 22,088 64,680 174,094

Unamortized premiums on securities 

held outright5 128,311 2,662 70,003 3,107 3,754 7,852 8,773 6,735 1,844 1,110 1,903 5,571 14,996

Unamortized discounts on securities 

held outright5 -12,739 -264 -6,950 -309 -373 -780 -871 -669 -183 -110 -189 -553 -1,489

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

Loans 83 0 0 0 0 1 4 2 21 47 1 3 4

Net portfolio holdings of Maiden

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

Items in process of collection 45 0 0 0 0 0 45 0 0 0 0 0 0

Bank premises 2,184 106 457 81 116 191 205 191 103 94 228 222 190

Central bank liquidity swaps8 40 2 13 2 3 8 2 2 1 0 0 0 6

Foreign currency denominated

assets9 20,623 888 6,546 1,191 1,646 4,397 1,199 861 314 98 200 255 3,027

Other assets10 20,062 430 10,453 478 591 1,435 1,349 1,019 491 234 369 909 2,305

Interdistrict settlement account 0 + 4,021 - 236,056 - 7,845 + 14,489 + 18,344 + 50,953 + 25,870 + 10,121 + 7,376 + 7,633 + 33,744 + 71,350

Total assets 3,769,673 82,979 1,810,344 84,407 126,230 252,716 309,722 224,034 64,868 40,265 63,981 197,538 512,590

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

5. Statement of Condition of Each Federal Reserve Bank, September 11, 2019 (continued)

Millions of dollars

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

Liabilities

Federal Reserve notes outstanding 1,917,632 57,626 637,711 55,275 90,846 131,358 267,162 124,397 56,381 31,285 50,291 159,593 255,707

Less: Notes held by F.R. Banks 200,461 6,532 48,003 9,096 9,910 15,656 26,035 14,251 6,187 3,375 8,229 20,341 32,846

Federal Reserve notes, net 1,717,172 51,094 589,709 46,179 80,935 115,702 241,127 110,147 50,193 27,911 42,061 139,252 222,862

Reverse repurchase agreements11 294,250 6,105 160,534 7,126 8,609 18,007 20,119 15,446 4,229 2,546 4,363 12,777 34,390

Deposits 1,712,985 23,795 1,044,308 29,368 33,214 110,271 45,711 96,578 9,672 9,259 16,984 44,732 249,093

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 1,458,667 23,736 834,787 29,365 33,153 109,428 45,627 53,014 9,668 9,205 16,958 44,640 249,086

U.S. Treasury, General Account 183,581 0 183,581 0 0 0 0 0 0 0 0 0 0

Foreign official 5,256 2 5,229 2 3 9 2 2 1 0 0 0 6

Other12 65,481 58 20,711 1 58 835 82 43,563 3 53 26 91 1

Deferred availability cash items 187 0 0 0 0 0 51 0 0 135 0 0 0

Earnings remittances due to the U.S.

Treasury13 1,089 17 664 21 26 30 91 45 16 8 24 56 90

Other liabilities and accrued

dividends 4,736 179 1,911 184 198 533 307 314 143 149 155 232 430

Total liabilities 3,730,417 81,191 1,797,125 82,879 122,982 244,544 307,406 222,529 64,254 40,008 63,587 197,049 506,864

Capital

Capital paid in 32,431 1,494 11,053 1,134 2,703 6,716 1,919 1,220 510 225 328 405 4,724

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 3,769,673 82,979 1,810,344 84,407 126,230 252,716 309,722 224,034 64,868 40,265 63,981 197,538 512,590

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

5. Statement of Condition of Each Federal Reserve Bank, September 11, 2019 (continued)

1. Includes securities lent to dealers under the overnight securities lending facility; refer to table 1A.

2. Face value of the securities.

3. Includes the original face value of inflation-indexed securities and compensation that adjusts for the effect of inflation on the original face value of such securities.

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

5. Reflects the premium or discount, which is the difference between the purchase price and the face value of the securities that has not been amortized. For U.S. Treasury securities, Federal

agency debt securities, and mortgage-backed securities, amortization is on an effective-interest basis.

6. Cash value of agreements, which are collateralized by U.S. Treasury and federal agency securities.

7. Refer to the note on consolidation below.

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

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

9. Revalued daily at current foreign currency exchange rates.

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

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

12. Includes deposits held at the Reserve Banks by international and multilateral organizations, government-sponsored enterprises, designated financial market utilities, and deposits held by

depository institutions in joint accounts in connection with their participation in certain private-sector payment arrangements. Also includes certain deposit accounts other than the U.S. Treasury,

General Account, for services provided by the Reserve Banks as fiscal agents of the United States.

13. Represents the estimated weekly remittances due to U.S. Treasury. The amounts on this line represent the residual net earnings that the Federal Reserve Banks remit to the U.S. Treasury after

providing for the costs of operations, payment of dividends, and the amount necessary to maintain a $6.825 billion surplus.

Note on consolidation:

On June 26, 2008, the Federal Reserve Bank of New York (FRBNY) extended a loan to Maiden Lane LLC (ML) under the authority of section 13(3) of the Federal Reserve Act. ML was formed to acquire certain

assets of Bear Stearns and to manage those assets through time to maximize repayment of the credit extended and minimize disruption to financial markets. On June 14, 2012, the remaining outstanding

balance of the senior loan from FRBNY to ML was repaid in full, with interest. On November 15, 2012, the remaining outstanding balance of the subordinated loan from JPMorgan Chase & Co. to ML was repaid

in full, with interest. FRBNY was the primary beneficiary of ML because it received any residual returns and could have absorbed any residual losses should they have occurred. Consistent with generally

accepted accounting principles, the assets and liabilities of ML were consolidated with the assets and liabilities of FRBNY in the preparation of the statements of condition shown on this release. As a

consequence of the consolidation, the extension of credit from FRBNY to ML was eliminated, the net assets of ML appeared as assets on the previous page (and in table 1 and table 4), and the liabilities of ML

to entities other than FRBNY, including those with recourse only to the ML portfolio holdings, were included in other liabilities in this table (and table 1 and table 4).
H.4.1

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

Millions of dollars

Wednesday Federal Reserve notes and collateral Sep 11, 2019

Federal Reserve notes outstanding 1,917,632

Less: Notes held by F.R. Banks not subject to collateralization 200,461

Federal Reserve notes to be collateralized 1,717,172

Collateral held against Federal Reserve notes 1,717,172

Gold certificate account 11,037

Special drawing rights certificate account 5,200

U.S. Treasury, agency debt, and mortgage-backed securities pledged1,2 1,700,935

Other assets pledged 0

Memo:

Total U.S. Treasury, agency debt, and mortgage-backed securities1,2 3,593,121

Less: Face value of securities under reverse repurchase agreements 282,477

U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 3,310,644

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.