FEDERAL RESERVE statistical release

H.4.1

Factors Affecting Reserve Balances of Depository Institutions and     
Condition Statement of Federal Reserve Banks                                                  January 9, 2020


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   Jan 8, 2020 
Federal Reserve Banks                                      Jan 8, 2020  Jan 1, 2020  Jan 9, 2019              

Reserve Bank credit                                         4,128,328   +    6,932   +  111,501    4,110,819  
  Securities held outright (1)                              3,746,685   +    6,750   -  115,298    3,758,738  
    U.S. Treasury securities                                2,335,662   +    6,751   +  113,212    2,347,714  
      Bills (2)                                               173,811   +    4,286   +  173,811      184,527  
      Notes and bonds, nominal (2)                          2,009,006   +    1,448   -   74,580    2,010,350  
      Notes and bonds, inflation-indexed (2)                  127,384   +    1,008   +   10,839      127,384  
      Inflation compensation (3)                               25,460   +        8   +    3,141       25,453  
    Federal agency debt securities (2)                          2,347            0   -       62        2,347  
    Mortgage-backed securities (4)                          1,408,677            0   -  228,446    1,408,677  
  Unamortized premiums on securities held outright (5)        124,476   -      149   -   15,380      124,474  
  Unamortized discounts on securities held outright (5)       -13,240   +       43   +      158      -13,278  
  Repurchase agreements (6)                                   240,958   -    1,368   +  240,958      210,587  
  Loans                                                             5   -       21   -        2            2  
    Primary credit                                                  3   -       12   -        4            0  
    Secondary credit                                                0            0            0            0  
    Seasonal credit                                                 2   -        9   +        2            2  
    Other credit extensions                                         0            0            0            0  
  Net portfolio holdings of Maiden Lane LLC (7)                     0            0            0            0  
  Float                                                          -202   +      268   -        5         -124  
  Central bank liquidity swaps (8)                              3,728   -        1   +    3,053        3,728  
  Other Federal Reserve assets (9)                             25,916   +    1,408   -    1,986       26,691  
Foreign currency denominated assets (10)                       20,750   +       49   -      318       20,632  
Gold stock                                                     11,041            0            0       11,041  
Special drawing rights certificate account                      5,200            0            0        5,200  
Treasury currency outstanding (11)                             50,120   +       14   +      351       50,120  
                                                                                                              
Total factors supplying reserve funds                       4,215,440   +    6,995   +  111,535    4,197,813  

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   Jan 8, 2020 
Federal Reserve Banks                                      Jan 8, 2020  Jan 1, 2020  Jan 9, 2019              

Currency in circulation (11)                                 1,805,007   -      908   +   89,561    1,802,383 
Reverse repurchase agreements (12)                             278,451   -    7,358   +   16,434      274,923 
  Foreign official and international accounts                  275,286   +    9,530   +   16,685      274,047 
  Others                                                         3,165   -   16,887   -      251          876 
Treasury cash holdings                                             172   +        1   -       43          175 
Deposits with F.R. Banks, other than reserve balances          434,555   -   21,248   +    2,097      419,861 
  Term deposits held by depository institutions                      0            0            0            0 
  U.S. Treasury, General Account                               367,002   -   15,551   +   10,304      350,840 
  Foreign official                                               5,182            0   -       82        5,182 
  Other (13)                                                    62,371   -    5,697   -    8,124       63,839 
Other liabilities and capital (14)                              43,168   -    1,733   -      215       43,843 
                                                                                                              
Total factors, other than reserve balances,               
    absorbing reserve funds                                  2,561,354   -   31,245   +  107,836    2,541,184 
                                                                                                              
Reserve balances with Federal Reserve Banks                  1,654,086   +   38,240   +    3,699    1,656,629 

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   Jan 8, 2020 
                                                           Jan 8, 2020  Jan 1, 2020  Jan 9, 2019              

Securities held in custody for foreign official and       
     international accounts                                  3,407,865   +    9,664   +   12,221    3,413,187 
  Marketable U.S. Treasury securities (1)                    2,966,339   +    9,657   -   55,990    2,971,592 
  Federal agency debt and mortgage-backed securities (2)       358,876   -       28   +   51,725      358,838 
  Other securities (3)                                          82,650   +       35   +   16,485       82,756 
Securities lent to dealers                                      34,339   -      653   +    9,864       33,790 
  Overnight facility (4)                                        34,339   -      653   +    9,864       33,790 
    U.S. Treasury securities                                    34,339   -      653   +    9,864       33,790 
    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, January 8, 2020     

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                                            0             2             0             0             0           ...             2 
U.S. Treasury securities (1)                                                                                                           
  Holdings                                  18,271       125,491       344,202       894,850       324,301       640,599     2,347,714 
  Weekly changes                        +   10,011    +    9,802    +    2,327    -    6,122    +    2,710    +       52    +   18,781 
Federal agency debt securities (2)                                                                                                     
  Holdings                                       0             0             0             0           486         1,861         2,347 
  Weekly changes                                 0             0             0             0             0             0             0 
Mortgage-backed securities (3)                                                                                                         
  Holdings                                       0             1            14         1,150        73,540     1,333,972     1,408,677 
  Weekly changes                                 0    +        1    +        2    +       15    +       12    -       30             0 
Repurchase agreements (4)                  210,587             0           ...           ...           ...           ...       210,587 
Central bank liquidity swaps (5)             3,728             0             0             0             0             0         3,728 
                                                                                                                                       
Reverse repurchase agreements (4)          274,923             0           ...           ...           ...           ...       274,923 
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   
                                                                                                                       Jan 8, 2020  

Mortgage-backed securities held outright (1)                                                                             1,408,677  
                                                                                                                                    
Commitments to buy mortgage-backed securities (2)                                                                            6,005  
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        Jan 8, 2020   Wednesday    Wednesday  
                                                        consolidation                 Jan 1, 2020  Jan 9, 2019 

Assets                                                                                                         
  Gold certificate account                                                   11,037            0            0  
  Special drawing rights certificate account                                  5,200            0            0  
  Coin                                                                        1,677   +       20   -       68  
  Securities, unamortized premiums and discounts,     
     repurchase agreements, and loans                                     4,080,523   -   26,388   +   92,170  
    Securities held outright (1)                                          3,758,738   +   18,781   -  103,206  
      U.S. Treasury securities                                            2,347,714   +   18,781   +  125,302  
        Bills (2)                                                           184,527   +   15,002   +  184,527  
        Notes and bonds, nominal (2)                                      2,010,350   +    3,800   -   73,236  
        Notes and bonds, inflation-indexed (2)                              127,384            0   +   10,839  
        Inflation compensation (3)                                           25,453   -       21   +    3,172  
      Federal agency debt securities (2)                                      2,347            0   -       62  
      Mortgage-backed securities (4)                                      1,408,677            0   -  228,446  
    Unamortized premiums on securities held outright  
    (5)                                                                     124,474   -      103   -   15,315  
    Unamortized discounts on securities held outright 
    (5)                                                                     -13,278   +        6   +      109  
    Repurchase agreements (6)                                               210,587   -   45,032   +  210,587  
    Loans                                                                         2   -       40   -        5  
  Net portfolio holdings of Maiden Lane LLC (7)                                   0            0            0  
  Items in process of collection                                   (0)           56   -       26   -      133  
  Bank premises                                                               2,198   -       13   -        4  
  Central bank liquidity swaps (8)                                            3,728            0   +    3,642  
  Foreign currency denominated assets (9)                                    20,632   -      160   -      527  
  Other assets (10)                                                          24,493   +    2,486   -    2,099  
                                                                                                               
Total assets                                                       (0)    4,149,544   -   24,082   +   92,981  

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        Jan 8, 2020   Wednesday    Wednesday  
                                                        consolidation                 Jan 1, 2020  Jan 9, 2019 

Liabilities                                                                                                    
  Federal Reserve notes, net of F.R. Bank holdings                         1,754,110   -    5,317   +   90,090 
  Reverse repurchase agreements (11)                                         274,923   -   61,726   +   14,482 
  Deposits                                                          (0)    2,076,489   +   44,530   -   11,204 
    Term deposits held by depository institutions                                  0            0            0 
    Other deposits held by depository institutions                         1,656,629   +  107,780   -    7,557 
    U.S. Treasury, General Account                                           350,840   -   53,013   +    1,397 
    Foreign official                                                           5,182            0   -       63 
    Other (12)                                                      (0)       63,839   -   10,236   -    4,980 
  Deferred availability cash items                                  (0)          179   -      546   -      191 
  Other liabilities and accrued dividends (13)                                 5,319   -    1,025   +      412 
                                                                                                               
Total liabilities                                                   (0)    4,111,021   -   24,082   +   93,591 
                                                                                                               
Capital accounts                                                                                               
  Capital paid in                                                             31,698            0   -      610 
  Surplus                                                                      6,825            0            0 
  Other capital accounts                                                           0            0            0 
                                                                                                               
Total capital                                                                 38,523            0   -      610 

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, January 8, 2020
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         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                                             1,677          42          40          148          98         224         173         279          32          49         114         196         282
  Securities, unamortized premiums and      
     discounts, repurchase agreements,      
     and loans                                 4,080,523      84,655   2,226,213       98,816     119,386     249,713     278,998     214,192      58,648      35,311      60,508     177,181     476,902
    Securities held outright (1)               3,758,738      77,979   2,050,657       91,024     109,971     230,021     256,996     197,301      54,023      32,525      55,736     163,209     439,294
      U.S. Treasury securities                 2,347,714      48,706   1,280,844       56,854      68,688     143,672     160,520     123,235      33,743      20,315      34,813     101,941     274,384
        Bills (2)                                184,527       3,828     100,673        4,469       5,399      11,292      12,617       9,686       2,652       1,597       2,736       8,012      21,566
        Notes and bonds (3)                    2,163,187      44,878   1,180,172       52,385      63,289     132,379     147,904     113,549      31,091      18,719      32,077      93,928     252,818
      Federal agency debt securities (2)           2,347          49       1,280           57          69         144         160         123          34          20          35         102         274
      Mortgage-backed securities (4)           1,408,677      29,225     768,533       34,113      41,214      86,206      96,316      73,943      20,246      12,190      20,888      61,166     164,636
    Unamortized premiums on securities held 
      outright (5)                               124,474       2,582      67,909        3,014       3,642       7,617       8,511       6,534       1,789       1,077       1,846       5,405      14,548
    Unamortized discounts on securities     
      held outright (5)                          -13,278        -275      -7,244         -322        -388        -813        -908        -697        -191        -115        -197        -577      -1,552
    Repurchase agreements (6)                    210,587       4,369     114,890        5,100       6,161      12,887      14,398      11,054       3,027       1,822       3,123       9,144      24,612
    Loans                                              2           0           0            0           0           0           0           0           0           1           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                      56           0           0            0           0           0          55           0           0           0           0           0           0
  Bank premises                                    2,198         105         455           91         117         191         203         193         102          93         228         224         197
  Central bank liquidity swaps (8)                 3,728         161       1,183          215         298         795         217         156          57          18          36          46         547
  Foreign currency denominated                                                                                                                                                                           
     assets (9)                                   20,632         888       6,549        1,192       1,647       4,399       1,200         861         315          98         200         255       3,029
  Other assets (10)                               24,493         524      12,919          588         729       1,731       1,661       1,260         432         275         441       1,099       2,833
  Interdistrict settlement account                     0  +    2,817  -  105,029   -   11,398  +    5,769  -    7,815  +   28,365  +   19,520  +    9,183  +    5,000  +    8,152  +   22,699  +   22,736
                                                                                                                                                                                                         
Total assets                                   4,149,544      89,741   2,147,855       90,191     128,812     250,404     313,085     237,596      69,245      41,119      70,124     202,872     508,499

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, January 8, 2020 (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            1,955,504      60,892     639,468      57,617      94,095     134,213     272,849     126,708      59,592      32,055      54,217     164,209     259,590
    Less: Notes held by F.R. Banks               201,394       5,627      50,452       8,275       8,956      16,131      30,296      12,289       5,055       2,874       6,885      19,469      35,085
      Federal Reserve notes, net               1,754,110      55,265     589,016      49,342      85,139     118,082     242,553     114,420      54,536      29,181      47,332     144,740     224,505
  Reverse repurchase agreements (11)             274,923       5,704     149,990       6,658       8,044      16,824      18,797      14,431       3,951       2,379       4,077      11,937      32,131
  Deposits                                     2,076,489      26,797   1,393,710      32,461      32,171     106,844      49,317     106,888       9,981       9,000      18,158      45,449     245,713
    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                           1,656,629      26,786   1,016,874      32,459      32,136     106,550      49,282      64,483       9,977       8,905      18,122      45,382     245,672
    U.S. Treasury, General Account               350,840           0     350,840           0           0           0           0           0           0           0           0           0           0
    Foreign official                               5,182           2       5,155           2           3           9           2           2           1           0           0           0           6
    Other (12)                                    63,839           9      20,842           0          31         286          33      42,403           3          95          35          66          35
  Deferred availability cash items                   179           0           0           0           0           0          52           0           0         127           0           0           0
  Earnings remittances due to the U.S.      
     Treasury (13)                                 1,462          22         846          29          37          41         122          75          23          11          22          80         153
  Other liabilities and accrued             
     dividends                                     3,857         155       1,474         165         167         467         275         267         131         140         135         205         276
                                                                                                                                                                                                        
Total liabilities                              4,111,021      87,942   2,135,037      88,655     125,558     242,258     311,116     236,080      68,622      40,839      69,724     202,411     502,778
                                                                                                                                                                                                        
Capital                                                                                                                                                                                                 
  Capital paid in                                 31,698       1,505      10,653       1,141       2,709       6,690       1,572       1,231         520         248         334         376       4,720
  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                  4,149,544      89,741   2,147,855      90,191     128,812     250,404     313,085     237,596      69,245      41,119      70,124     202,872     508,499

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, January 8, 2020 (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   
                                                                                           Jan 8, 2020  

Federal Reserve notes outstanding                                                            1,955,504  
  Less: Notes held by F.R. Banks not subject to collateralization                              201,394  
    Federal Reserve notes to be collateralized                                               1,754,110  
Collateral held against Federal Reserve notes                                                1,754,110  
  Gold certificate account                                                                      11,037  
  Special drawing rights certificate account                                                     5,200  
  U.S. Treasury, agency debt, and mortgage-backed securities pledged (1,2)                   1,737,873  
  Other assets pledged                                                                               0  
Memo:                                                                                                   
Total U.S. Treasury, agency debt, and mortgage-backed securities (1,2)                       3,969,325  
  Less: Face value of securities under reverse repurchase agreements                           266,951  
    U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged        3,702,373  

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.