FEDERAL RESERVE statistical release

H.4.1

Factors Affecting Reserve Balances of Depository Institutions and     
Condition Statement of Federal Reserve Banks                                                February 13, 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  Feb 12, 2020 
Federal Reserve Banks                                     Feb 12, 2020  Feb 5, 2020 Feb 13, 2019              

Reserve Bank credit                                         4,135,017   +   15,078   +  146,431    4,144,202  
  Securities held outright (1)                              3,828,262   +   22,789   -    1,621    3,836,494  
    U.S. Treasury securities                                2,438,021   +   22,184   +  232,377    2,442,621  
      Bills (2)                                               255,466   +   18,646   +  255,466      258,038  
      Notes and bonds, nominal (2)                          2,026,276   +    1,938   -   43,120    2,028,077  
      Notes and bonds, inflation-indexed (2)                  130,823   +    1,578   +   16,054      131,052  
      Inflation compensation (3)                               25,456   +       22   +    3,977       25,454  
    Federal agency debt securities (2)                          2,347            0   -       62        2,347  
    Mortgage-backed securities (4)                          1,387,894   +      605   -  233,936    1,391,526  
  Unamortized premiums on securities held outright (5)        123,836   +      294   -   14,318      124,249  
  Unamortized discounts on securities held outright (5)       -13,307   +        1   -       69      -13,266  
  Repurchase agreements (6)                                   164,724   -   10,595   +  164,724      164,400  
  Loans                                                             0   -        6   -       20            0  
    Primary credit                                                  0   -        5   -        6            0  
    Secondary credit                                                0            0            0            0  
    Seasonal credit                                                 0            0   -       14            0  
    Other credit extensions                                         0            0            0            0  
  Net portfolio holdings of Maiden Lane LLC (7)                     0            0            0            0  
  Float                                                           -95   +      249   +       27         -102  
  Central bank liquidity swaps (8)                                 55   +        7   -       16           55  
  Other Federal Reserve assets (9)                             31,542   +    2,339   -    2,276       32,372  
Foreign currency denominated assets (10)                       20,370   -      250   -      426       20,310  
Gold stock                                                     11,041            0            0       11,041  
Special drawing rights certificate account                      5,200            0            0        5,200  
Treasury currency outstanding (11)                             50,190   +       14   +      385       50,190  
                                                                                                              
Total factors supplying reserve funds                       4,221,818   +   14,841   +  146,390    4,230,943  

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  Feb 12, 2020 
Federal Reserve Banks                                     Feb 12, 2020  Feb 5, 2020 Feb 13, 2019              

Currency in circulation (11)                                 1,794,429   +    1,774   +   88,343    1,796,425 
Reverse repurchase agreements (12)                             228,286   -   16,258   -   20,890      223,829 
  Foreign official and international accounts                  227,562   -   12,693   -   19,653      223,520 
  Others                                                           724   -    3,565   -    1,237          309 
Treasury cash holdings                                             231   +       12   -       37          248 
Deposits with F.R. Banks, other than reserve balances          478,775   -    2,000   +   53,305      470,728 
  Term deposits held by depository institutions                      0            0            0            0 
  U.S. Treasury, General Account                               411,237   -    2,085   +   52,128      404,341 
  Foreign official                                               5,183   +        1   -       61        5,183 
  Other (13)                                                    62,355   +       85   +    1,237       61,204 
Other liabilities and capital (14)                              44,532   +      764   +       77       44,632 
                                                                                                              
Total factors, other than reserve balances,               
    absorbing reserve funds                                  2,546,252   -   15,708   +  120,796    2,535,861 
                                                                                                              
Reserve balances with Federal Reserve Banks                  1,675,566   +   30,550   +   25,593    1,695,082 

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  Feb 12, 2020 
                                                          Feb 12, 2020  Feb 5, 2020 Feb 13, 2019              

Securities held in custody for foreign official and       
     international accounts                                  3,458,431   +   32,086   +   31,613    3,464,467 
  Marketable U.S. Treasury securities (1)                    3,008,942   +   29,221   -   27,269    3,000,571 
  Federal agency debt and mortgage-backed securities (2)       367,288   +    2,414   +   47,161      381,634 
  Other securities (3)                                          82,201   +      451   +   11,721       82,262 
Securities lent to dealers                                      32,778   +    1,349   +   14,113       33,034 
  Overnight facility (4)                                        32,778   +    1,349   +   14,113       33,034 
    U.S. Treasury securities                                    32,778   +    1,349   +   14,113       33,034 
    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, February 12, 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             0             0             0             0           ...             0 
U.S. Treasury securities (1)                                                                                                           
  Holdings                                  52,182       129,306       376,189       918,350       319,315       647,278     2,442,621 
  Weekly changes                        -    1,182    +   14,130    -    2,449    +      395    -       14    +    3,859    +   14,741 
Federal agency debt securities (2)                                                                                                     
  Holdings                                       0             0             0             0         1,151         1,196         2,347 
  Weekly changes                                 0             0             0             0             0             0             0 
Mortgage-backed securities (3)                                                                                                         
  Holdings                                       0             1             4         1,394        71,691     1,318,437     1,391,526 
  Weekly changes                                 0             0             0             0             0    +    4,237    +    4,237 
Repurchase agreements (4)                  164,400             0           ...           ...           ...           ...       164,400 
Central bank liquidity swaps (5)                55             0             0             0             0             0            55 
                                                                                                                                       
Reverse repurchase agreements (4)          223,829             0           ...           ...           ...           ...       223,829 
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   
                                                                                                                      Feb 12, 2020  

Mortgage-backed securities held outright (1)                                                                             1,391,526  
                                                                                                                                    
Commitments to buy mortgage-backed securities (2)                                                                            3,956  
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       Feb 12, 2020   Wednesday    Wednesday  
                                                        consolidation                 Feb 5, 2020 Feb 13, 2019 

Assets                                                                                                         
  Gold certificate account                                                   11,037            0            0  
  Special drawing rights certificate account                                  5,200            0            0  
  Coin                                                                        1,783   +       11   -       26  
  Securities, unamortized premiums and discounts,     
     repurchase agreements, and loans                                     4,111,877   +   13,900   +  157,054  
    Securities held outright (1)                                          3,836,494   +   18,978   +    6,525  
      U.S. Treasury securities                                            2,442,621   +   14,741   +  237,017  
        Bills (2)                                                           258,038   +   10,502   +  258,038  
        Notes and bonds, nominal (2)                                      2,028,077   +    2,602   -   41,319  
        Notes and bonds, inflation-indexed (2)                              131,052   +    1,601   +   16,283  
        Inflation compensation (3)                                           25,454   +       36   +    4,015  
      Federal agency debt securities (2)                                      2,347            0   -       62  
      Mortgage-backed securities (4)                                      1,391,526   +    4,237   -  230,430  
    Unamortized premiums on securities held outright  
    (5)                                                                     124,249   +      707   -   13,814  
    Unamortized discounts on securities held outright 
    (5)                                                                     -13,266   +       67   -       40  
    Repurchase agreements (6)                                               164,400   -    5,850   +  164,400  
    Loans                                                                         0   -        1   -       18  
  Net portfolio holdings of Maiden Lane LLC (7)                                   0            0            0  
  Items in process of collection                                   (0)           55   -       21   -        5  
  Bank premises                                                               2,197   +        4   -        4  
  Central bank liquidity swaps (8)                                               55   +        7   -       16  
  Foreign currency denominated assets (9)                                    20,310   -      143   -      398  
  Other assets (10)                                                          30,175   +    2,223   -    2,348  
                                                                                                               
Total assets                                                       (0)    4,182,689   +   15,982   +  154,258  

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       Feb 12, 2020   Wednesday    Wednesday  
                                                        consolidation                 Feb 5, 2020 Feb 13, 2019 

Liabilities                                                                                                    
  Federal Reserve notes, net of F.R. Bank holdings                         1,748,261   +    1,767   +   86,375 
  Reverse repurchase agreements (11)                                         223,829   -   15,334   -   22,436 
  Deposits                                                          (0)    2,165,810   +   28,547   +   90,316 
    Term deposits held by depository institutions                                  0            0            0 
    Other deposits held by depository institutions                         1,695,082   +   42,209   +   60,665 
    U.S. Treasury, General Account                                           404,341   -   12,244   +   29,222 
    Foreign official                                                           5,183            0   -       61 
    Other (12)                                                      (0)       61,204   -    1,417   +      490 
  Deferred availability cash items                                  (0)          158   -       22   -       47 
  Other liabilities and accrued dividends (13)                                 6,112   +    1,007   +      691 
                                                                                                               
Total liabilities                                                   (0)    4,144,169   +   15,964   +  154,898 
                                                                                                               
Capital accounts                                                                                               
  Capital paid in                                                             31,695   +       18   -      641 
  Surplus                                                                      6,825            0            0 
  Other capital accounts                                                           0            0            0 
                                                                                                               
Total capital                                                                 38,520   +       18   -      641 

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, February 12, 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                                             1,783          42          54          158         102         237         178         288          37          52         120         206         307
  Securities, unamortized premiums and      
     discounts, repurchase agreements,      
     and loans                                 4,111,877      85,306   2,243,320       99,576     120,303     251,632     281,142     215,838      59,098      35,581      60,972     178,543     480,566
    Securities held outright (1)               3,836,494      79,593   2,093,079       92,907     112,246     234,780     262,313     201,383      55,140      33,198      56,889     166,585     448,382
      U.S. Treasury securities                 2,442,621      50,675   1,332,622       59,152      71,465     149,480     167,009     128,217      35,107      21,137      36,220     106,061     285,476
        Bills (2)                                258,038       5,353     140,778        6,249       7,550      15,791      17,643      13,545       3,709       2,233       3,826      11,204      30,158
        Notes and bonds (3)                    2,184,583      45,322   1,191,845       52,903      63,915     133,689     149,367     114,672      31,398      18,904      32,394      94,857     255,318
      Federal agency debt securities (2)           2,347          49       1,280           57          69         144         160         123          34          20          35         102         274
      Mortgage-backed securities (4)           1,391,526      28,869     759,176       33,698      40,713      85,156      95,143      73,043      20,000      12,041      20,634      60,422     162,631
    Unamortized premiums on securities held 
      outright (5)                               124,249       2,578      67,787        3,009       3,635       7,604       8,495       6,522       1,786       1,075       1,842       5,395      14,521
    Unamortized discounts on securities     
      held outright (5)                          -13,266        -275      -7,238         -321        -388        -812        -907        -696        -191        -115        -197        -576      -1,550
    Repurchase agreements (6)                    164,400       3,411      89,692        3,981       4,810      10,061      11,241       8,630       2,363       1,423       2,438       7,138      19,214
    Loans                                              0           0           0            0           0           0           0           0           0           0           0           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                      55           0           0            0           0           0          55           0           0           0           0           0           0
  Bank premises                                    2,197         105         455           94         117         192         202         192         102          93         228         222         196
  Central bank liquidity swaps (8)                    55           2          18            3           4          12           3           2           1           0           1           1           8
  Foreign currency denominated                                                                                                                                                                           
     assets (9)                                   20,310         875       6,447        1,173       1,621       4,330       1,181         848         310          97         197         251       2,981
  Other assets (10)                               30,175         642      15,939          724         900       2,084       2,041       1,550         547         334         547       1,383       3,484
  Interdistrict settlement account                     0  +    1,025  -   65,344   -   11,627  +   12,744  -   10,096  +   23,383  +    6,634  +    8,714  +    3,858  +    6,421  +   21,734  +    2,552
                                                                                                                                                                                                         
Total assets                                   4,182,689      88,544   2,206,413       90,639     136,561     249,557     310,399     226,488      69,287      40,291      68,930     203,512     492,069

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, February 12, 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            1,960,230      60,763     644,158      57,436      93,822     134,324     274,099     126,709      59,447      32,138      54,134     163,810     259,389
    Less: Notes held by F.R. Banks               211,969       6,234      52,300       8,820      10,113      16,787      32,973      13,628       5,048       3,114       7,056      20,027      35,869
      Federal Reserve notes, net               1,748,261      54,530     591,858      48,616      83,708     117,537     241,126     113,081      54,400      29,024      47,078     143,783     223,520
  Reverse repurchase agreements (11)             223,829       4,644     122,114       5,420       6,549      13,698      15,304      11,749       3,217       1,937       3,319       9,719      26,159
  Deposits                                     2,165,810      27,352   1,476,694      35,012      42,799     109,632      51,612      99,773      10,874       8,767      17,927      49,259     236,108
    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                           1,695,082      27,344   1,046,302      35,010      42,766     109,260      51,577      60,067      10,871       8,716      17,899      49,168     236,102
    U.S. Treasury, General Account               404,341           0     404,341           0           0           0           0           0           0           0           0           0           0
    Foreign official                               5,183           2       5,156           2           3           9           2           2           1           0           0           0           6
    Other (12)                                    61,204           6      20,896           0          30         363          32      39,704           3          51          28          90           0
  Deferred availability cash items                   158           0           0           0           0           0          50           0           0         107           0           0           0
  Earnings remittances due to the U.S.      
     Treasury (13)                                 1,034          11         629          17          11          11          96          55          16           8          16          63         100
  Other liabilities and accrued             
     dividends                                     5,078         179       2,171         186         201         549         314         335         148         147         182         231         437
                                                                                                                                                                                                        
Total liabilities                              4,144,169      86,715   2,193,466      89,252     133,268     241,426     308,503     224,992      68,655      39,990      68,523     203,054     486,324
                                                                                                                                                                                                        
Capital                                                                                                                                                                                                 
  Capital paid in                                 31,695       1,505      10,653       1,141       2,709       6,691       1,558       1,231         520         248         336         377       4,728
  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                  4,182,689      88,544   2,206,413      90,639     136,561     249,557     310,399     226,488      69,287      40,291      68,930     203,512     492,069

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, February 12, 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   
                                                                                          Feb 12, 2020  

Federal Reserve notes outstanding                                                            1,960,230  
  Less: Notes held by F.R. Banks not subject to collateralization                              211,969  
    Federal Reserve notes to be collateralized                                               1,748,261  
Collateral held against Federal Reserve notes                                                1,748,261  
  Gold certificate account                                                                      11,037  
  Special drawing rights certificate account                                                     5,200  
  U.S. Treasury, agency debt, and mortgage-backed securities pledged (1,2)                   1,732,024  
  Other assets pledged                                                                               0  
Memo:                                                                                                   
Total U.S. Treasury, agency debt, and mortgage-backed securities (1,2)                       4,000,894  
  Less: Face value of securities under reverse repurchase agreements                           220,163  
    U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged        3,780,731  

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.