FEDERAL RESERVE statistical release

H.4.1

Factors Affecting Reserve Balances of Depository Institutions and

Condition Statement of Federal Reserve Banks February 4, 2016

1. Factors Affecting Reserve Balances of Depository Institutions

Millions of dollars

Averages of daily figures

Change from week ended

Reserve Bank credit, related items, and

reserve balances of depository institutions at

Federal Reserve Banks

Week ended

Feb 3, 2016 Jan 27, 2016 Feb 4, 2015

Wednesday

Feb 3, 2016

Reserve Bank credit 4,444,886 - 6,412 - 16,603 4,445,059

Securities held outright1 4,236,798 - 6,631 - 188 4,236,766

U.S. Treasury securities 2,461,301 - 60 + 581 2,461,269

Bills2 0 0 0 0

Notes and bonds, nominal2 2,346,639 0 - 72 2,346,639

Notes and bonds, inflation-indexed2 98,534 0 + 65 98,534

Inflation compensation3 16,129 - 59 + 589 16,097

Federal agency debt securities2 31,318 0 - 6,270 31,318

Mortgage-backed securities4 1,744,179 - 6,571 + 5,501 1,744,179

Unamortized premiums on securities held outright5 187,792 - 574 - 17,738 187,656

Unamortized discounts on securities held outright5 -16,420 + 35 + 1,820 -16,411

Repurchase agreements6 0 0 0 0

Loans 73 + 33 + 23 10

Primary credit 65 + 39 + 21 2

Secondary credit 0 0 0 0

Seasonal credit 8 - 6 + 3 9

Other credit extensions 0 0 0 0

Net portfolio holdings of Maiden Lane LLC7 1,722 + 4 + 36 1,722

Float -77 + 80 + 305 -7

Central bank liquidity swaps8 91 - 11 + 91 91

Other Federal Reserve assets9 34,906 + 651 - 953 35,232

Foreign currency denominated assets10 19,706 - 24 - 622 20,001

Gold stock 11,041 0 0 11,041

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

Treasury currency outstanding11 47,637 + 14 + 1,162 47,637

Total factors supplying reserve funds 4,528,470 - 6,421 - 16,063 4,528,938

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

Feb 3, 2016 Jan 27, 2016 Feb 4, 2015

Wednesday

Feb 3, 2016

Currency in circulation11 1,413,736 + 636 + 82,658 1,415,646

Reverse repurchase agreements12 321,629 + 27,476 + 36,301 292,271

Foreign official and international accounts 232,150 + 12,951 + 109,947 229,810

Others 89,478 + 14,524 - 73,648 62,461

Treasury cash holdings 264 - 13 + 62 249

Deposits with F.R. Banks, other than reserve balances 371,498 - 13,806 + 190,706 333,108

Term deposits held by depository institutions 0 0 0 0

U.S. Treasury, General Account 350,858 + 8,862 + 183,586 312,633

Foreign official 5,276 + 36 - 48 5,539

Other13 15,364 - 22,704 + 7,168 14,936

Other liabilities and capital14 46,372 + 67 - 16,498 46,387

Total factors, other than reserve balances,

absorbing reserve funds 2,153,499 + 14,360 + 293,229 2,087,662

Reserve balances with Federal Reserve Banks 2,374,971 - 20,781 - 309,292 2,441,276

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

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

2. Face value of the securities.

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

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

the securities.

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

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

amortization is on an effective-interest basis.

6. Cash value of agreements.

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

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

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

foreign central bank.

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

Bank premises and equipment net of allowances for depreciation.

10. Revalued daily at current foreign currency exchange rates.

11. Estimated.

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

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

financial market utilities.

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

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

1A. Memorandum Items

Millions of dollars

Averages of daily figures

Memorandum item Week ended Change from week ended

Feb 3, 2016 Jan 27, 2016 Feb 4, 2015

Wednesday

Feb 3, 2016

Securities held in custody for foreign official and international

accounts 3,273,513 + 6,422 + 15,630 3,262,262

Marketable U.S. Treasury securities1 2,962,229 + 6,464 + 33,651 2,950,910

Federal agency debt and mortgage-backed securities2 263,414 - 537 - 23,372 263,492

Other securities3 47,870 + 495 + 5,350 47,860

Securities lent to dealers 15,488 + 2,059 + 6,589 13,122

Overnight facility4 15,488 + 2,059 + 6,589 13,122

U.S. Treasury securities 15,421 + 2,067 + 6,967 13,079

Federal agency debt securities 68 - 8 - 378 43

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

1. Includes securities and U.S. Treasury STRIPS at face value, and inflation compensation on TIPS. Does not include securities pledged as collateral

to foreign official and international account holders against reverse repurchase agreements with the Federal Reserve presented in tables 1, 5, and 6.

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

securities.

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

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

2. Maturity Distribution of Securities, Loans, and Selected Other Assets and Liabilities, February 3, 2016

Millions of dollars

Remaining Maturity Within 15

days

16 days to

90 days

91 days to

1 year

Over 1 year

to 5 years

Over 5 year

to 10 years

Over 10

years

All

Loans 2 9 0 0 0 ... 10

U.S. Treasury securities1

Holdings 4,868 83,192 136,537 1,118,233 485,029 633,410 2,461,269

Weekly changes + 2,957 + 22,503 - 20,019 - 2,118 - 3,350 - 45 - 72

Federal agency debt securities2

Holdings 0 4,222 10,916 13,833 0 2,347 31,318

Weekly changes 0 0 0 0 0 0 0

Mortgage-backed securities3

Holdings 0 0 0 699 8,873 1,734,608 1,744,179

Weekly changes 0 0 0 + 105 - 105 0 0

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

Central bank liquidity swaps5 91 0 0 0 0 0 91

Reverse repurchase agreements4 292,271 0 ... ... ... ... 292,271

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 Feb 3, 2016

Mortgage-backed securities held outright1 1,744,179

Commitments to buy mortgage-backed securities2 30,948

Commitments to sell mortgage-backed securities2 0

Cash and cash equivalents3 4

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

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

3. This amount is included in other Federal Reserve assets in table 1 and in other assets in table 5 and table 6.

4. Information on Principal Accounts of Maiden Lane LLC

Millions of dollars

Wednesday Account name Feb 3, 2016

Net portfolio holdings of Maiden Lane LLC1 1,722

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

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

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

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

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

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

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

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

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

table 5 and table 6.

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

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

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

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

5. Consolidated Statement of Condition of All Federal Reserve Banks

Millions of dollars

Change since

Assets, liabilities, and capital Wednesday Wednesday Eliminations from

consolidation

Wednesday

Feb 3, 2016 Jan 27, 2016 Feb 4, 2015

Assets

Gold certificate account 11,037 0 0

Special drawing rights certificate account 5,200 0 0

Coin 1,999 + 28 + 44

Securities, unamortized premiums and discounts,

repurchase agreements, and loans 4,408,021 - 529 - 16,057

Securities held outright1 4,236,766 - 72 - 154

U.S. Treasury securities 2,461,269 - 72 + 617

Bills2 0 0 0

Notes and bonds, nominal2 2,346,639 0 - 72

Notes and bonds, inflation-indexed2 98,534 0 + 65

Inflation compensation3 16,097 - 71 + 625

Federal agency debt securities2 31,318 0 - 6,270

Mortgage-backed securities4 1,744,179 0 + 5,499

Unamortized premiums on securities held outright5 187,656 - 369 - 17,715

Unamortized discounts on securities held outright5 -16,411 + 26 + 1,816

Repurchase agreements6 0 0 0

Loans 10 - 114 - 4

Net portfolio holdings of Maiden Lane LLC7 1,722 0 + 36

Items in process of collection (0) 191 - 4 + 81

Bank premises 2,230 - 8 - 23

Central bank liquidity swaps8 91 - 11 + 91

Foreign currency denominated assets9 20,001 + 267 - 395

Other assets10 33,002 + 1,402 - 632

Total assets (0) 4,483,495 + 1,146 - 16,853

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

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

Millions of dollars

Change since

Assets, liabilities, and capital Wednesday Wednesday Eliminations from

consolidation

Wednesday

Feb 3, 2016 Jan 27, 2016 Feb 4, 2015

Liabilities

Federal Reserve notes, net of F.R. Bank holdings 1,370,254 + 2,067 + 79,482

Reverse repurchase agreements11 292,271 - 16,834 + 26,621

Deposits (0) 2,774,384 + 15,126 - 106,094

Term deposits held by depository institutions 0 0 0

Other deposits held by depository institutions 2,441,276 + 42,009 - 267,535

U.S. Treasury, General Account 312,633 - 25,340 + 155,383

Foreign official 5,539 + 306 + 326

Other12 (0) 14,936 - 1,850 + 5,732

Deferred availability cash items (0) 198 - 268 - 378

Other liabilities and accrued dividends13 6,881 + 1,052 + 1,221

Total liabilities (0) 4,443,989 + 1,144 + 853

Capital accounts

Capital paid in 29,506 + 2 + 900

Surplus 10,000 0 - 18,606

Other capital accounts 0 0 0

Total capital 39,506 + 2 - 17,706

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

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

2. Face value of the securities.

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

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

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

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

amortization is on an effective-interest basis.

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

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

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

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

central bank.

9. Revalued daily at current foreign currency exchange rates.

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

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

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

financial market utilities.

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

6. Statement of Condition of Each Federal Reserve Bank, February 3, 2016

Millions of dollars

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

Assets

Gold certificate account 11,037 347 3,709 340 505 783 1,600 734 299 171 288 891 1,370

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

Coin 1,999 50 77 133 144 312 203 291 33 58 158 208 332

Securities, unamortized premiums and

discounts, repurchase agreements,

and loans 4,408,021 111,741 2,646,182 109,636 105,979 239,415 248,224 163,781 45,969 26,812 57,262 141,996 511,023

Securities held outright1 4,236,766 107,400 2,543,382 105,375 101,862 230,114 238,581 157,415 44,183 25,766 55,038 136,480 491,170

U.S. Treasury securities 2,461,269 62,392 1,477,529 61,216 59,175 133,680 138,599 91,447 25,667 14,968 31,973 79,286 285,336

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

Notes and bonds3 2,461,269 62,392 1,477,529 61,216 59,175 133,680 138,599 91,447 25,667 14,968 31,973 79,286 285,336

Federal agency debt securities2 31,318 794 18,801 779 753 1,701 1,764 1,164 327 190 407 1,009 3,631

Mortgage-backed securities4 1,744,179 44,214 1,047,052 43,381 41,934 94,733 98,218 64,804 18,189 10,607 22,658 56,186 202,204

Unamortized premiums on securities 

held outright5 187,656 4,757 112,652 4,667 4,512 10,192 10,567 6,972 1,957 1,141 2,438 6,045 21,755

Unamortized discounts on securities 

held outright5 -16,411 -416 -9,852 -408 -395 -891 -924 -610 -171 -100 -213 -529 -1,903

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

Loans 10 0 0 2 0 0 0 4 0 5 0 0 0

Net portfolio holdings of Maiden

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

Items in process of collection 191 0 0 0 0 0 190 0 0 0 0 0 0

Bank premises 2,230 124 434 74 105 211 206 203 117 91 240 226 198

Central bank liquidity swaps8 91 4 29 5 7 21 5 2 1 0 1 1 13

Foreign currency denominated

assets9 20,001 907 6,449 1,117 1,559 4,589 1,138 537 186 84 210 288 2,936

Other assets10 33,002 878 19,281 830 811 1,983 1,884 1,244 444 232 482 1,092 3,842

Interdistrict settlement account 0 - 17,732 - 108,937 + 11,909 + 12,718 + 9,278 + 2,959 + 250 + 11,973 + 4,656 + 2,399 + 16,650 + 53,876

Total assets 4,483,495 96,515 2,570,764 124,256 122,065 257,003 257,062 167,467 59,173 32,196 61,193 161,635 574,166

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

6. Statement of Condition of Each Federal Reserve Bank, February 3, 2016 (continued)

Millions of dollars

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

Liabilities

Federal Reserve notes outstanding 1,548,776 49,502 496,166 49,115 82,434 106,131 219,886 102,537 51,419 26,773 40,490 126,190 198,133

Less: Notes held by F.R. Banks 178,522 6,220 59,207 6,116 9,746 11,770 22,625 11,191 4,698 2,881 5,025 14,027 25,016

Federal Reserve notes, net 1,370,254 43,282 436,959 42,999 72,687 94,361 197,261 91,346 46,722 23,892 35,465 112,164 173,117

Reverse repurchase agreements11 292,271 7,409 175,454 7,269 7,027 15,874 16,458 10,859 3,048 1,777 3,797 9,415 33,883

Deposits 2,774,384 43,864 1,941,854 71,572 39,084 137,268 40,591 63,889 8,854 6,136 21,376 39,283 360,612

Term deposits held by depository

institutions 0 0 0 0 0 0 0 0 0 0 0 0 0

Other deposits held by depository

institutions 2,441,276 43,860 1,616,533 71,570 39,081 137,215 40,582 56,194 8,846 6,136 21,375 39,282 360,602

U.S. Treasury, General Account 312,633 0 312,633 0 0 0 0 0 0 0 0 0 0

Foreign official 5,539 2 5,512 2 3 9 2 1 0 0 0 1 6

Other12 14,936 2 7,175 0 0 44 7 7,694 8 0 1 1 5

Deferred availability cash items 198 0 0 0 0 0 114 0 0 84 0 0 0

Earnings remittances due to the U.S.

Treasury13 2,141 56 1,203 54 65 154 135 77 28 13 46 67 242

Other liabilities and accrued

dividends 4,741 147 2,337 179 175 473 295 236 125 125 109 188 352

Total liabilities 4,443,989 94,757 2,557,807 122,073 119,038 248,130 254,855 166,407 58,777 32,028 60,793 161,117 568,207

Capital

Capital paid in 29,506 1,304 9,735 1,624 2,248 6,578 1,639 791 303 126 295 374 4,490

Surplus 10,000 453 3,223 559 780 2,295 569 269 93 42 105 144 1,469

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

Total liabilities and capital 4,483,495 96,515 2,570,764 124,256 122,065 257,003 257,062 167,467 59,173 32,196 61,193 161,635 574,166

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

6. Statement of Condition of Each Federal Reserve Bank, February 3, 2016 (continued)

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

2. Face value of the securities.

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

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

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

agency debt securities, amortization is on a straight-line basis. For mortgage-backed securities, amortization is on an effective-interest basis.

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

7. Refer to table 4 and the note on consolidation below.

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

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

9. Revalued daily at current foreign currency exchange rates.

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

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

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

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

providing for the costs of operations, payment of dividends, and the amount necessary to maintain a $10 billion surplus.

Note on consolidation:

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

assets of Bear Stearns. On June 14, 2012, the remaining outstanding balance of the senior loan from FRBNY to ML was repaid in full, with interest. On November 15, 2012, the remaining outstanding balance of

the subordinated loan from JPMorgan Chase & Co. to ML was repaid in full, with interest. FRBNY was the primary beneficiary of ML because it received any residual returns and could have absorbed any

residual losses should they have occurred. Consistent with generally accepted accounting principles, the assets and liabilities of ML were consolidated with the assets and liabilities of FRBNY in the preparation

of the statements of condition shown on this release. As a consequence of the consolidation, the extension of credit from FRBNY to ML was eliminated, the net assets of ML appeared as assets on the previous

page (and in table 1 and table 5), and the liabilities of ML to entities other than FRBNY, including those with recourse only to the ML portfolio holdings, were included in other liabilities in this table (and table 1

and table 5).
H.4.1

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

Millions of dollars

Wednesday Federal Reserve notes and collateral Feb 3, 2016

Federal Reserve notes outstanding 1,548,776

Less: Notes held by F.R. Banks not subject to collateralization 178,522

Federal Reserve notes to be collateralized 1,370,254

Collateral held against Federal Reserve notes 1,370,254

Gold certificate account 11,037

Special drawing rights certificate account 5,200

U.S. Treasury, agency debt, and mortgage-backed securities pledged1,2 1,354,018

Other assets pledged 0

Memo:

Total U.S. Treasury, agency debt, and mortgage-backed securities1,2 4,236,766

Less: Face value of securities under reverse repurchase agreements 270,429

U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 3,966,337

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.