FEDERAL RESERVE statistical release

H.4.1

Factors Affecting Reserve Balances of Depository Institutions and

Condition Statement of Federal Reserve Banks April 30, 2020

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 29, 2020 Apr 22, 2020 May 1, 2019

Wednesday

Apr 29, 2020

Reserve Bank credit 6,597,655 + 146,446 +2,725,889 6,616,131

Securities held outright1 5,562,498 + 110,726 +1,839,511 5,578,486

U.S. Treasury securities 3,945,017 + 81,460 +1,799,810 3,971,419

Bills2 326,044 0 + 325,944 326,044

Notes and bonds, nominal2 3,344,204 + 72,631 +1,336,315 3,367,047

Notes and bonds, inflation-indexed2 239,119 + 7,927 + 123,913 242,290

Inflation compensation3 35,651 + 902 + 13,638 36,038

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

Mortgage-backed securities4 1,615,134 + 29,266 + 39,701 1,604,720

Unamortized premiums on securities held outright5 281,268 + 10,255 + 147,151 283,240

Unamortized discounts on securities held outright5 -5,807 + 636 + 7,173 -5,711

Repurchase agreements6 163,558 - 7,950 + 163,558 158,202

Foreign official 0 - 1 0 2

Others 163,557 - 7,950 + 163,557 158,200

Loans 121,384 + 2,543 + 121,360 123,028

Primary credit 31,259 - 3,694 + 31,256 31,759

Secondary credit 0 0 0 0

Seasonal credit 0 0 - 21 0

Primary Dealer Credit Facility 28,618 - 2,648 + 28,618 25,504

Money Market Mutual Fund Liquidity Facility 47,504 - 2,142 + 47,504 46,277

Paycheck Protection Program Liquidity Facility 14,003 + 11,026 + 14,003 19,488

Other credit extensions 0 0 0 0

Net portfolio holdings of Commercial Paper Funding

Facility II LLC7 2,921 + 405 + 2,921 3,372

Float -367 - 163 + 82 -1,397

Central bank liquidity swaps8 434,253 + 27,981 + 434,198 438,953

Other Federal Reserve assets9 37,947 + 2,012 + 9,936 37,956

Foreign currency denominated assets10 20,440 - 18 - 90 20,525

Gold stock 11,041 0 0 11,041

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

Treasury currency outstanding11 50,275 + 14 + 378 50,275

Total factors supplying reserve funds 6,684,611 + 146,442 +2,726,176 6,703,172

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 29, 2020 Apr 22, 2020 May 1, 2019

Wednesday

Apr 29, 2020

Currency in circulation11 1,903,433 + 12,518 + 175,001 1,910,511

Reverse repurchase agreements12 271,307 - 19,297 + 8,090 269,106

Foreign official and international accounts 266,878 - 15,004 + 4,234 267,656

Others 4,430 - 4,292 + 3,857 1,450

Treasury cash holdings 298 - 3 - 33 301

Deposits with F.R. Banks, other than reserve balances 1,286,524 + 99,931 + 826,141 1,296,625

Term deposits held by depository institutions 0 0 0 0

U.S. Treasury, General Account 997,507 + 96,176 + 597,009 1,076,232

Foreign official 16,317 + 24 + 11,073 16,323

Other13 272,699 + 3,730 + 218,058 204,070

Other liabilities and capital14 63,908 - 2,343 + 19,255 63,116

Total factors, other than reserve balances,

absorbing reserve funds 3,525,469 + 90,804 +1,028,453 3,539,660

Reserve balances with Federal Reserve Banks 3,159,142 + 55,638 +1,697,723 3,163,512

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 bank premises, accrued interest, and other accounts receivable. Also includes net portfolio holdings of Maiden Lane LLC.

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

Apr 29, 2020 Apr 22, 2020 May 1, 2019

Wednesday

Apr 29, 2020

Securities held in custody for foreign official and international

accounts 3,337,349 + 17,160 - 123,874 3,337,612

Marketable U.S. Treasury securities1 2,869,708 + 18,121 - 187,257 2,871,607

Federal agency debt and mortgage-backed securities2 382,551 - 3,258 + 50,597 380,582

Other securities3 85,090 + 2,297 + 12,786 85,424

Securities lent to dealers 34,358 - 1,535 + 11,041 37,344

Overnight facility4 34,358 - 1,535 + 11,041 37,344

U.S. Treasury securities 34,358 - 1,535 + 11,041 37,344

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, April 29, 2020

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

Loans1 15,854 71,712 15,974 19,488 0 ... 123,028

U.S. Treasury securities2

Holdings 55,294 249,856 535,821 1,572,472 665,596 892,381 3,971,419

Weekly changes - 3,575 + 6,257 + 7,636 + 36,080 + 6,287 + 9,384 + 62,067

Federal agency debt securities3

Holdings 0 0 0 0 1,151 1,196 2,347

Weekly changes 0 0 0 0 0 0 0

Mortgage-backed securities4

Holdings 0 0 4 1,845 76,519 1,526,351 1,604,720

Weekly changes 0 0 - 1 - 66 - 819 - 16,882 - 17,767

Commercial paper held by Commercial

Paper Funding Facility II LLC5 0 3,347 0 ... ... ... 3,347

Repurchase agreements6 22,752 135,450 ... ... ... ... 158,202

Central bank liquidity swaps7 21,507 417,446 0 0 0 0 438,953

Reverse repurchase agreements6 269,106 0 ... ... ... ... 269,106

Term deposits 0 0 0 ... ... ... 0

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

...Not applicable.

1. Loans includes primary, secondary, and seasonal loans and credit extended through the Primary Dealer Credit Facility, Money Market Mutual Fund

Liquidity Facility, Paycheck Protection Program Liquidity Facility, and other credit extensions. Loans exclude the loan from the Federal Reserve Bank

of New York (FRBNY) to Commercial Paper Funding Facility II LLC, which was eliminated when preparing the FRBNY's statement of condition

consistent with consolidation under generally accepted accounting principles.

2. 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.

3. Face value.

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

5. Face value of commercial paper held by Commercial Paper Funding Facility II LLC.

6. Cash value of agreements.

7. 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 29, 2020

Mortgage-backed securities held outright1 1,604,720

Residential mortgage-backed securities 1,597,206

Commercial mortgage-backed securities 7,514

Commitments to buy mortgage-backed securities2 301,251

Commitments to sell mortgage-backed securities2 0

Cash and cash equivalents3 27

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. Includes residential and commercial mortgage-backed securities. Residential mortgage-backed securities generally settle within

180 calendar days and include commitments associated with outright transactions, dollar rolls, and coupon swaps. Commercial mortgage-backed

securities generally settle within three business days.

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

Apr 29, 2020 Apr 22, 2020 May 1, 2019

Assets

Gold certificate account 11,037 0 0

Special drawing rights certificate account 5,200 0 0

Coin 1,598 - 38 - 72

Securities, unamortized premiums and discounts,

repurchase agreements, and loans 6,137,246 + 51,563 +2,314,417

Securities held outright1 5,578,486 + 44,300 +1,876,752

U.S. Treasury securities 3,971,419 + 62,067 +1,847,465

Bills2 326,044 0 + 325,944

Notes and bonds, nominal2 3,367,047 + 52,403 +1,380,622

Notes and bonds, inflation-indexed2 242,290 + 8,598 + 126,929

Inflation compensation3 36,038 + 1,066 + 13,971

Federal agency debt securities2 2,347 0 0

Mortgage-backed securities4 1,604,720 - 17,767 + 29,287

Unamortized premiums on securities held outright5 283,240 + 5,203 + 149,208

Unamortized discounts on securities held outright5 -5,711 + 417 + 7,260

Repurchase agreements6 158,202 + 702 + 158,202

Loans7 123,028 + 940 + 122,994

Net portfolio holdings of Commercial Paper Funding

Facility II LLC8 3,372 + 640 + 3,372

Items in process of collection (0) 41 + 6 - 30

Bank premises 2,208 + 1 + 14

Central bank liquidity swaps9 438,953 + 29,241 + 438,898

Foreign currency denominated assets10 20,525 + 120 - 118

Other assets11 35,749 + 1,262 + 9,756

Total assets (0) 6,655,929 + 82,793 +2,766,238

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

Apr 29, 2020 Apr 22, 2020 May 1, 2019

Liabilities

Federal Reserve notes, net of F.R. Bank holdings 1,862,131 + 14,469 + 179,317

Reverse repurchase agreements12 269,106 - 20,186 - 713

Deposits (0) 4,460,138 + 87,725 +2,568,121

Term deposits held by depository institutions 0 0 0

Other deposits held by depository institutions 3,163,513 + 63,533 +1,703,503

U.S. Treasury, General Account 1,076,232 + 126,233 + 707,468

Foreign official 16,323 + 20 + 11,078

Other13 (0) 204,070 - 102,060 + 146,072

Deferred availability cash items (0) 1,438 + 1,097 + 891

Other liabilities and accrued dividends14 24,279 - 318 + 19,085

Total liabilities (0) 6,617,091 + 82,787 +2,766,700

Capital accounts

Capital paid in 32,013 + 7 - 462

Surplus 6,825 0 0

Other capital accounts 0 0 0

Total capital 38,838 + 7 - 462

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. Loans includes primary, secondary, and seasonal loans and credit extended through the Primary Dealer Credit Facility, Money Market Mutual Fund

Liquidity Facility, Paycheck Protection Program Liquidity Facility, and other credit extensions.

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

9. 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.

10. Revalued daily at current foreign currency exchange rates.

11. Includes accrued interest, which represents the daily accumulation of interest earned, and other accounts receivable. Also includes net portfolio

holdings of Maiden Lane LLC.

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.
H.4.1

5. Statement of Condition of Each Federal Reserve Bank, April 29, 2020

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 certificates and special drawing

rights certificates 16,237 533 5,483 529 761 1,165 2,183 1,137 479 270 450 1,202 2,045

Coin 1,598 36 46 146 89 218 154 266 24 48 105 182 285

Securities, unamortized premiums and

discounts, repurchase agreements,

and loans1 6,137,246 183,327 3,163,269 138,095 188,631 378,874 445,143 342,081 96,161 57,730 97,563 291,516 754,854

Net portfolio holdings of Commercial

Paper Funding Facility II LLC2 3,372 0 3,372 0 0 0 0 0 0 0 0 0 0

Central bank liquidity swaps3 438,953 20,836 147,516 15,796 37,511 92,649 21,771 17,047 7,195 3,437 4,629 5,211 65,356

Foreign currency denominated

assets4 20,525 974 6,900 738 1,754 4,331 1,018 797 336 161 216 244 3,055

Other assets5 37,998 972 18,413 912 1,252 2,699 2,842 2,148 746 488 888 2,044 4,594

Interdistrict settlement account 0 - 59,723 + 424,296 - 13,489 - 35,000 + 47,108 - 96,096 - 4,116 - 20,482 - 12,132 - 13,269 + 4,689 - 221,786

Total assets 6,655,929 146,955 3,769,296 142,727 194,997 527,044 377,014 359,359 84,460 50,002 90,582 305,089 608,403

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, April 29, 2020 (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, net 1,862,131 57,679 620,774 50,852 84,152 125,645 256,705 120,771 58,943 30,160 50,021 152,523 253,905

Reverse repurchase agreements6 269,106 6,043 139,332 6,140 8,419 16,866 19,832 15,031 4,252 2,543 4,279 12,969 33,399

Deposits 4,460,138 81,015 2,978,912 83,973 98,647 375,279 97,579 221,278 20,361 15,336 35,553 138,308 313,897

Depository institutions 3,163,513 80,996 1,827,993 83,971 92,817 374,380 91,102 101,734 20,356 15,265 26,441 134,566 313,891

U.S. Treasury, General Account 1,076,232 0 1,076,232 0 0 0 0 0 0 0 0 0 0

Foreign official 16,323 2 16,296 1 3 8 2 2 1 0 0 0 6

Other7 204,070 16 58,391 0 5,826 890 6,475 119,542 4 70 9,112 3,742 1

Earnings remittances due to the U.S.

Treasury8 1,933 52 985 40 67 154 141 103 19 14 28 88 242

Other liabilities and accrued

dividends 23,784 336 16,292 334 415 948 857 680 249 1,624 286 548 1,214

Total liabilities 6,617,091 145,125 3,756,295 141,338 191,700 518,892 375,115 357,862 83,825 49,677 90,168 304,437 602,658

Capital

Capital paid in 32,013 1,506 10,707 1,143 2,714 6,712 1,561 1,232 523 272 343 571 4,729

Surplus 6,825 324 2,294 246 583 1,441 338 265 112 53 72 81 1,016

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

Total liabilities and capital 6,655,929 146,955 3,769,296 142,727 194,997 527,044 377,014 359,359 84,460 50,002 90,582 305,089 608,403

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, April 29, 2020 (continued)

1. Securities include outright holdings of U.S. Treasury securities, federal agency debt securities, and mortgage-backed securities, including securities lent to dealers under the overnight securities

lending facility; refer to table 1A. Mortgage-backed securities are guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. Unamortized premiums and discounts are the differences between the

purchase price and the face value of the securities that have not been amortized. For U.S. Treasury securities, federal agency debt securities, and mortgage-backed securities, amortization is on

an effective-interest basis. Repurchase agreements reflect the cash value of agreements, which are collateralized by U.S. Treasury and federal agency securities. Loans includes primary,

secondary, and seasonal loans and credit extended through the Primary Dealer Credit Facility, Money Market Mutual Fund Liquidity Facility, Paycheck Protection Program Liquidity Facility, and

other credit extensions.

2. Refer to note on consolidation below.

3. 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.

4. Revalued daily at current foreign currency exchange rates.

5. Includes items in process of collection, bank premises, accrued interest (which represents the daily accumulation of interest earned), and other accounts receivable. Also includes Net portfolio

holdings of Maiden Lane LLC; refer to the note on consolidation for additional information.

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

7. 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.

8. 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 April 14, 2020, the Federal Reserve Bank of New York (FRBNY) began extending loans to the Commercial Paper Funding Facility II LLC (CPFF II LLC) under the authority of section 13(3) of the

Federal Reserve Act. CPFF II LLC is a limited liability company formed to purchase three-month U.S dollar-denominated commercial paper by eligible issuers. The assets of the CPFF II LLC are

used to secure the loan from the FRBNY and the amount provided by U.S. Treasury as credit protection to the FRBNY.

The FRBNY is the managing member of CPFF II LLC. Consistent with generally accepted accounting principles, the assets and liabilities of the CPFF II LLC have been consolidated with the assets

and liabilities of the FRBNY in the preparation of the statements of condition shown on this release. As a consequence of the consolidation, the loan from the FRBNY to CPFF II LLC is eliminated, the

net assets of the CPFF II LLC appear as assets on the previous page (and in table 1 and table 4), and the liabilities of the CPFF II LLC to entities other than the FRBNY, including those with recourse

only to the portfolio holdings of the CPFF II LLC are 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 Apr 29, 2020

Federal Reserve notes outstanding 2,022,105

Less: Notes held by F.R. Banks not subject to collateralization 159,974

Federal Reserve notes to be collateralized 1,862,131

Collateral held against Federal Reserve notes 1,862,131

Gold certificate account 11,037

Special drawing rights certificate account 5,200

U.S. Treasury, agency debt, and mortgage-backed securities pledged1,2 1,845,894

Other assets pledged 0

Memo:

Total U.S. Treasury, agency debt, and mortgage-backed securities1,2 5,736,689

Less: Face value of securities under reverse repurchase agreements 255,747

U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 5,480,941

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.