FEDERAL RESERVE statistical release

H.4.1

Factors Affecting Reserve Balances of Depository Institutions and     
Condition Statement of Federal Reserve Banks                                                November 29, 2019


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  Nov 27, 2019 
Federal Reserve Banks                                     Nov 27, 2019 Nov 20, 2019 Nov 28, 2018              

Reserve Bank credit                                         4,001,805   +   14,454   -   62,021    4,013,621  
  Securities held outright (1)                              3,667,197   +   14,739   -  246,563    3,674,569  
    U.S. Treasury securities                                2,233,410   +   25,391   -   19,693    2,248,498  
      Bills (2)                                                94,729   +   20,360   +   94,729      106,516  
      Notes and bonds, nominal (2)                          1,989,315   +    5,003   -  126,069    1,992,602  
      Notes and bonds, inflation-indexed (2)                  124,372            0   +    8,793      124,372  
      Inflation compensation (3)                               24,995   +       28   +    2,854       25,008  
    Federal agency debt securities (2)                          2,347            0   -       62        2,347  
    Mortgage-backed securities (4)                          1,431,440   -   10,651   -  226,807    1,423,724  
  Unamortized premiums on securities held outright (5)        125,909   -      572   -   16,042      125,635  
  Unamortized discounts on securities held outright (5)       -13,053   -      146   +      470      -13,108  
  Repurchase agreements (6)                                   201,969   +    1,860   +  201,969      207,243  
  Loans                                                            23   -        2   -       53           40  
    Primary credit                                                  4            0   -        6           20  
    Secondary credit                                                0            0            0            0  
    Seasonal credit                                                19   -        2   -       47           20  
    Other credit extensions                                         0            0            0            0  
  Net portfolio holdings of Maiden Lane LLC (7)                     0            0   -        7            0  
  Float                                                          -252   -      165   -       72         -821  
  Central bank liquidity swaps (8)                                 47   -        1   -       20           47  
  Other Federal Reserve assets (9)                             19,965   -    1,259   -    1,705       20,015  
Foreign currency denominated assets (10)                       20,553   -       45   -       26       20,493  
Gold stock                                                     11,041            0            0       11,041  
Special drawing rights certificate account                      5,200            0            0        5,200  
Treasury currency outstanding (11)                             50,106   +       14   +      366       50,106  
                                                                                                              
Total factors supplying reserve funds                       4,088,705   +   14,423   -   61,681    4,100,461  

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  Nov 27, 2019 
Federal Reserve Banks                                     Nov 27, 2019 Nov 20, 2019 Nov 28, 2018              

Currency in circulation (11)                                 1,787,863   +    2,321   +   81,796    1,792,322 
Reverse repurchase agreements (12)                             282,931   -    6,142   +   43,743      281,921 
  Foreign official and international accounts                  278,709   +    1,325   +   47,826      281,415 
  Others                                                         4,222   -    7,467   -    4,083          506 
Treasury cash holdings                                             183   -        2   -       24          185 
Deposits with F.R. Banks, other than reserve balances          446,424   +   11,260   +   24,864      421,790 
  Term deposits held by depository institutions                      0            0            0            0 
  U.S. Treasury, General Account                               360,941   -    7,872   +   20,345      358,896 
  Foreign official                                               5,181   -        2   -       78        5,181 
  Other (13)                                                    80,302   +   19,133   +    4,597       57,712 
Other liabilities and capital (14)                              44,607   -      951   -       99       44,524 
                                                                                                              
Total factors, other than reserve balances,               
    absorbing reserve funds                                  2,562,008   +    6,486   +  150,281    2,540,742 
                                                                                                              
Reserve balances with Federal Reserve Banks                  1,526,697   +    7,938   -  211,962    1,559,719 

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  Nov 27, 2019 
                                                          Nov 27, 2019 Nov 20, 2019 Nov 28, 2018              

Securities held in custody for foreign official and       
     international accounts                                  3,414,903   -      602   +   13,098    3,410,979 
  Marketable U.S. Treasury securities (1)                    2,963,851   -    4,614   -   65,080    2,961,763 
  Federal agency debt and mortgage-backed securities (2)       366,771   +    3,920   +   59,927      365,230 
  Other securities (3)                                          84,281   +       91   +   18,252       83,986 
Securities lent to dealers                                      29,477   -      458   +   13,192       30,126 
  Overnight facility (4)                                        29,477   -      458   +   13,192       30,126 
    U.S. Treasury securities                                    29,477   -      458   +   13,192       30,126 
    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, November 27, 2019   

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                                           40             0             0             0             0           ...            40 
U.S. Treasury securities (1)                                                                                                           
  Holdings                                  10,203        97,984       303,961       882,505       317,323       636,521     2,248,498 
  Weekly changes                        +      169    +    1,103    +   21,232    +    5,606    +       14    +       11    +   28,137 
Federal agency debt securities (2)                                                                                                     
  Holdings                                       0             0             0             0           486         1,861         2,347 
  Weekly changes                                 0             0             0             0             0             0             0 
Mortgage-backed securities (3)                                                                                                         
  Holdings                                       0             0            12           976        75,844     1,346,892     1,423,724 
  Weekly changes                                 0             0    -        3    -       33    -    1,101    -   12,336    -   13,473 
Repurchase agreements (4)                  182,243        25,000           ...           ...           ...           ...       207,243 
Central bank liquidity swaps (5)                47             0             0             0             0             0            47 
                                                                                                                                       
Reverse repurchase agreements (4)          281,921             0           ...           ...           ...           ...       281,921 
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   
                                                                                                                      Nov 27, 2019  

Mortgage-backed securities held outright (1)                                                                             1,423,724  
                                                                                                                                    
Commitments to buy mortgage-backed securities (2)                                                                            7,394  
Commitments to sell mortgage-backed securities (2)                                                                              20  
                                                                                                                                    
Cash and cash equivalents (3)                                                                                                    2  



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       Nov 27, 2019   Wednesday    Wednesday  
                                                        consolidation                Nov 20, 2019 Nov 28, 2018 

Assets                                                                                                         
  Gold certificate account                                                   11,037            0            0  
  Special drawing rights certificate account                                  5,200            0            0  
  Coin                                                                        1,621   -       37   -       70  
  Securities, unamortized premiums and discounts,     
     repurchase agreements, and loans                                     3,994,379   +   22,072   -   42,909  
    Securities held outright (1)                                          3,674,569   +   14,665   -  234,425  
      U.S. Treasury securities                                            2,248,498   +   28,137   -    4,619  
        Bills (2)                                                           106,516   +   22,503   +  106,516  
        Notes and bonds, nominal (2)                                      1,992,602   +    5,603   -  122,782  
        Notes and bonds, inflation-indexed (2)                              124,372            0   +    8,793  
        Inflation compensation (3)                                           25,008   +       31   +    2,854  
      Federal agency debt securities (2)                                      2,347            0   -       62  
      Mortgage-backed securities (4)                                      1,423,724   -   13,473   -  229,744  
    Unamortized premiums on securities held outright  
    (5)                                                                     125,635   -      575   -   16,086  
    Unamortized discounts on securities held outright 
    (5)                                                                     -13,108   -      115   +      404  
    Repurchase agreements (6)                                               207,243   +    8,084   +  207,243  
    Loans                                                                        40   +       14   -       44  
  Net portfolio holdings of Maiden Lane LLC (7)                                   0            0   -        7  
  Items in process of collection                                   (0)           83   +       26   +        1  
  Bank premises                                                               2,205   +       12   +        5  
  Central bank liquidity swaps (8)                                               47   -        1   -       21  
  Foreign currency denominated assets (9)                                    20,493   -      114   +       10  
  Other assets (10)                                                          17,809   +      668   -    1,305  
                                                                                                               
Total assets                                                       (0)    4,052,875   +   22,626   -   44,295  

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       Nov 27, 2019   Wednesday    Wednesday  
                                                        consolidation                Nov 20, 2019 Nov 28, 2018 

Liabilities                                                                                                    
  Federal Reserve notes, net of F.R. Bank holdings                         1,744,018   +    6,345   +   85,513 
  Reverse repurchase agreements (11)                                         281,921   -   18,993   +   54,606 
  Deposits                                                          (0)    1,981,509   +   35,136   -  185,525 
    Term deposits held by depository institutions                                  0            0            0 
    Other deposits held by depository institutions                         1,559,719   +   29,561   -  198,962 
    U.S. Treasury, General Account                                           358,896   +    1,345   +   26,560 
    Foreign official                                                           5,181   -        2   -       76 
    Other (12)                                                      (0)       57,712   +    4,231   -   13,047 
  Deferred availability cash items                                  (0)          904   +      776   +      437 
  Other liabilities and accrued dividends (13)                                 5,623   -      638   +      903 
                                                                                                               
Total liabilities                                                   (0)    4,013,975   +   22,626   -   44,066 
                                                                                                               
Capital accounts                                                                                               
  Capital paid in                                                             32,075            0   -      229 
  Surplus                                                                      6,825            0            0 
  Other capital accounts                                                           0            0            0 
                                                                                                               
Total capital                                                                 38,900            0   -      229 

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, November 27, 2019
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                                             1,621          40          42          149         105         209         158         273          32          45         108         183         278
  Securities, unamortized premiums and      
     discounts, repurchase agreements,      
     and loans                                 3,994,379      82,867   2,179,194       96,729     116,864     244,439     273,113     209,668      57,409      34,576      59,230     173,459     466,829
    Securities held outright (1)               3,674,569      76,233   2,004,737       88,986     107,509     224,870     251,241     192,883      52,813      31,797      54,488     159,554     429,457
      U.S. Treasury securities                 2,248,498      46,648   1,226,715       54,451      65,785     137,600     153,737     118,027      32,317      19,457      33,342      97,632     262,788
        Bills (2)                                106,516       2,210      58,112        2,579       3,116       6,518       7,283       5,591       1,531         922       1,579       4,625      12,449
        Notes and bonds (3)                    2,141,982      44,438   1,168,603       51,872      62,669     131,082     146,454     112,436      30,786      18,535      31,762      93,007     250,339
      Federal agency debt securities (2)           2,347          49       1,280           57          69         144         160         123          34          20          35         102         274
      Mortgage-backed securities (4)           1,423,724      29,537     776,742       34,478      41,655      87,127      97,344      74,733      20,463      12,320      21,112      61,820     166,395
    Unamortized premiums on securities held 
      outright (5)                               125,635       2,606      68,543        3,042       3,676       7,688       8,590       6,595       1,806       1,087       1,863       5,455      14,683
    Unamortized discounts on securities     
      held outright (5)                          -13,108        -272      -7,151         -317        -384        -802        -896        -688        -188        -113        -194        -569      -1,532
    Repurchase agreements (6)                    207,243       4,299     113,066        5,019       6,063      12,683      14,170      10,878       2,979       1,793       3,073       8,999      24,221
    Loans                                             40           0           0            0           0           0           8           0           0          12           0          20           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                      83           0           0            0           0           0          82           0           0           0           0           0           0
  Bank premises                                    2,205         107         465           88         116         192         203         195         102          94         228         225         191
  Central bank liquidity swaps (8)                    47           2          15            3           4          10           3           2           1           0           0           1           7
  Foreign currency denominated                                                                                                                                                                           
     assets (9)                                   20,493         882       6,510        1,183       1,635       4,367       1,191         855         312          97         198         253       3,007
  Other assets (10)                               17,809         380       9,186          421         520       1,316       1,188         901         444         198         329         890       2,034
  Interdistrict settlement account                     0  +   10,631  -  164,499   -   11,860  +   21,384  +   10,623  +   35,282  +   16,330  +    9,528  +    6,686  +    8,420  +   24,717  +   32,757
                                                                                                                                                                                                         
Total assets                                   4,052,875      95,456   2,036,439       87,250     141,397     262,323     313,435     229,360      68,305      41,973      68,958     200,899     507,078

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, November 27, 2019 (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            1,952,101      60,479     640,978      57,142      93,740     133,871     272,804     126,349      59,034      31,149      53,582     163,395     259,580
    Less: Notes held by F.R. Banks               208,084       6,434      56,047       8,802       8,978      15,848      29,339      12,831       5,532       3,268       7,379      20,034      33,592
      Federal Reserve notes, net               1,744,018      54,045     584,931      48,339      84,762     118,023     243,464     113,518      53,502      27,881      46,203     143,361     225,988
  Reverse repurchase agreements (11)             281,921       5,849     153,808       6,827       8,248      17,253      19,276      14,798       4,052       2,440       4,180      12,241      32,949
  Deposits                                     1,981,509      33,575   1,282,540      30,335      44,899     118,282      47,842      99,192       9,978      10,373      17,997      44,552     241,944
    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                           1,559,719      33,551     897,177      30,333      44,867     117,865      47,808      63,447       9,973      10,312      17,965      44,483     241,937
    U.S. Treasury, General Account               358,896           0     358,896           0           0           0           0           0           0           0           0           0           0
    Foreign official                               5,181           2       5,154           2           3           9           2           2           1           0           0           0           6
    Other (12)                                    57,712          22      21,313           0          29         408          32      35,743           4          61          32          68           1
  Deferred availability cash items                   904           0           0           0           0           0          67           0           0         836           0           0           0
  Earnings remittances due to the U.S.      
     Treasury (13)                                 1,219          22         705          25          30          17         114          58          16          11          21          66         132
  Other liabilities and accrued             
     dividends                                     4,404         177       1,639         187         205         603         300         284         136         153         160         218         343
                                                                                                                                                                                                        
Total liabilities                              4,013,975      93,668   2,023,623      85,714     138,144     254,178     311,064     227,850      67,683      41,694      68,562     200,438     501,357
                                                                                                                                                                                                        
Capital                                                                                                                                                                                                 
  Capital paid in                                 32,075       1,494      10,650       1,142       2,709       6,690       1,975       1,225         518         247         330         376       4,719
  Surplus                                          6,825         294       2,166         394         545       1,455         397         285         104          32          66          84       1,002
  Other capital                                        0           0           0           0           0           0           0           0           0           0           0           0           0
                                                                                                                                                                                                        
Total liabilities and capital                  4,052,875      95,456   2,036,439      87,250     141,397     262,323     313,435     229,360      68,305      41,973      68,958     200,899     507,078

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, November 27, 2019 (continued)


1.  Includes securities lent to dealers under the overnight securities lending facility; refer to table 1A.                                                                                                 
2.  Face value of the securities.                                                                                                                                                                           
3.  Includes the original face value of inflation-indexed securities and compensation that adjusts for the effect of inflation on the original face value of such securities.                               
4.  Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. The current face value shown is the remaining principal balance of the securities.                                                               
5.  Reflects the premium or discount, which is the difference between the purchase price and the face value of the securities that has not been amortized. For U.S. Treasury securities, Federal agency     
    debt securities, and mortgage-backed securities, amortization is on an effective-interest basis.                                                                                                    
6.  Cash value of agreements, which are collateralized by U.S. Treasury and federal agency securities.                                                                                                      
7.  Refer to the note on consolidation below.                                                                                                                                                               
8.  Dollar value of foreign currency held under these agreements valued at the exchange rate to be used when the foreign currency is returned to the foreign central bank. This exchange rate equals        
    the market exchange rate used when the foreign currency was acquired from the foreign central bank.                                                                                                 
9.  Revalued daily at current foreign currency exchange rates.                                                                                                                                              
10. Includes accrued interest, which represents the daily accumulation of interest earned, and other accounts receivable.                                                                                   
11. Cash value of agreements, which are collateralized by U.S. Treasury securities, federal agency debt securities, and mortgage-backed securities.                                                         
12. Includes deposits held at the Reserve Banks by international and multilateral organizations, government-sponsored enterprises, designated financial market utilities, and deposits held by              
    depository institutions in joint accounts in connection with their participation in certain private-sector payment arrangements. Also includes certain deposit accounts other than the U.S. Treasury, General
    Account, for services provided by the Reserve Banks as fiscal agents of the United States.                                                                                                          
13. Represents the estimated weekly remittances due to U.S. Treasury. The amounts on this line represent the residual net earnings that the Federal Reserve Banks remit to the U.S. Treasury after          
    providing for the costs of operations, payment of dividends, and the amount necessary to maintain a $6.825 billion surplus.                                                                         
                                                                                                                                                                                                            


Note on consolidation:


On June 26, 2008, the Federal Reserve Bank of New York (FRBNY) extended a loan to Maiden Lane LLC (ML) under the authority of section 13(3) of the Federal Reserve Act. ML was formed to
acquire certain assets of Bear Stearns and to manage those assets through time to maximize repayment of the credit extended and minimize disruption to financial markets. On June 14, 2012, the
remaining outstanding balance of the senior loan from FRBNY to ML was repaid in full, with interest. On November 15, 2012, the remaining outstanding balance of the subordinated loan from JPMorgan
Chase & Co. to ML was repaid in full, with interest. FRBNY was the primary beneficiary of ML because it received any residual returns and could have absorbed any residual losses should they
have occurred. Consistent with generally accepted accounting principles, the assets and liabilities of ML were consolidated with the assets and liabilities of FRBNY in the preparation of the
statements of condition shown on this release. As a consequence of the consolidation, the extension of credit from FRBNY to ML was eliminated, the net assets of ML appeared as assets on the
previous page (and in table 1 and table 4), and the liabilities of ML to entities other than FRBNY, including those with recourse only to the ML portfolio holdings, were included in other
liabilities in this table (and table 1 and table 4).
                                                                                                                                        



6. Collateral Held against Federal Reserve Notes: Federal Reserve Agents' Accounts
Millions of dollars
Federal Reserve notes and collateral                                                        Wednesday   
                                                                                          Nov 27, 2019  

Federal Reserve notes outstanding                                                            1,952,101  
  Less: Notes held by F.R. Banks not subject to collateralization                              208,084  
    Federal Reserve notes to be collateralized                                               1,744,018  
Collateral held against Federal Reserve notes                                                1,744,018  
  Gold certificate account                                                                      11,037  
  Special drawing rights certificate account                                                     5,200  
  U.S. Treasury, agency debt, and mortgage-backed securities pledged (1,2)                   1,727,781  
  Other assets pledged                                                                               0  
Memo:                                                                                                   
Total U.S. Treasury, agency debt, and mortgage-backed securities (1,2)                       3,881,812  
  Less: Face value of securities under reverse repurchase agreements                           270,160  
    U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged        3,611,652  

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.