FEDERAL RESERVE statistical release

H.4.1

Factors Affecting Reserve Balances of Depository Institutions and     
Condition Statement of Federal Reserve Banks                                                    June 20, 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  Jun 19, 2019 
Federal Reserve Banks                                     Jun 19, 2019 Jun 12, 2019 Jun 20, 2018              

Reserve Bank credit                                         3,808,983   -    1,077   -  470,515    3,805,133  
  Securities held outright (1)                              3,665,059   -    2,587   -  449,478    3,661,227  
    U.S. Treasury securities                                2,110,053   +      159   -  268,025    2,110,084  
      Bills (2)                                                    37   -       13   +       37            5  
      Notes and bonds, nominal (2)                          1,970,270            0   -  271,891    1,970,270  
      Notes and bonds, inflation-indexed (2)                  116,516            0   +    1,656      116,516  
      Inflation compensation (3)                               23,229   +      172   +    2,172       23,293  
    Federal agency debt securities (2)                          2,347            0   -       62        2,347  
    Mortgage-backed securities (4)                          1,552,659   -    2,746   -  181,391    1,548,796  
  Unamortized premiums on securities held outright (5)        131,969   -      279   -   18,588      131,780  
  Unamortized discounts on securities held outright (5)       -12,947   +       29   +    1,018      -12,936  
  Repurchase agreements (6)                                         0            0            0            0  
  Loans                                                            72   +       23   -       63          154  
    Primary credit                                                 19   +       17   +       11           95  
    Secondary credit                                                0            0            0            0  
    Seasonal credit                                                53   +        6   -       74           58  
    Other credit extensions                                         0            0            0            0  
  Net portfolio holdings of Maiden Lane LLC (7)                     0            0   -    1,713            0  
  Float                                                          -138   +       37   +       22         -112  
  Central bank liquidity swaps (8)                                 17   -        5   -       78           17  
  Other Federal Reserve assets (9)                             24,952   +    1,706   -    1,634       25,003  
Foreign currency denominated assets (10)                       20,816   -      111   -      295       20,811  
Gold stock                                                     11,041            0            0       11,041  
Special drawing rights certificate account                      5,200            0            0        5,200  
Treasury currency outstanding (11)                             49,995   +       14   +      394       49,995  
                                                                                                              
Total factors supplying reserve funds                       3,896,036   -    1,174   -  470,415    3,892,180  

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  Jun 19, 2019 
Federal Reserve Banks                                     Jun 19, 2019 Jun 12, 2019 Jun 20, 2018              

Currency in circulation (11)                                 1,737,034   -      261   +   76,183    1,737,788 
Reverse repurchase agreements (12)                             268,581   -    2,830   +   20,324      284,695 
  Foreign official and international accounts                  261,544   -    8,045   +   13,948      262,338 
  Others                                                         7,037   +    5,215   +    6,376       22,357 
Treasury cash holdings                                             211   -       10   -       20          197 
Deposits with F.R. Banks, other than reserve balances          276,461   +   20,365   -  162,457      322,681 
  Term deposits held by depository institutions                      0            0            0            0 
  U.S. Treasury, General Account                               198,398   +   10,838   -  154,379      258,641 
  Foreign official                                               5,244   -       33   -       11        5,244 
  Other (13)                                                    72,818   +    9,558   -    8,067       58,795 
Other liabilities and capital (14)                              45,794   +      571   -      417       45,295 
                                                                                                              
Total factors, other than reserve balances,               
    absorbing reserve funds                                  2,328,081   +   17,834   -   66,387    2,390,656 
                                                                                                              
Reserve balances with Federal Reserve Banks                  1,567,955   -   19,008   -  404,028    1,501,524 

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  Jun 19, 2019 
                                                          Jun 19, 2019 Jun 12, 2019 Jun 20, 2018              

Securities held in custody for foreign official and       
     international accounts                                  3,477,434   +   16,321   +   73,746    3,474,103 
  Marketable U.S. Treasury securities (1)                    3,056,381   +    4,887   +   14,473    3,052,703 
  Federal agency debt and mortgage-backed securities (2)       344,133   +   11,203   +   54,557      344,041 
  Other securities (3)                                          76,920   +      230   +    4,715       77,359 
Securities lent to dealers                                      27,062   -    4,202   +    7,014       25,567 
  Overnight facility (4)                                        27,062   -    4,202   +    7,014       25,567 
    U.S. Treasury securities                                    27,062   -    4,202   +    7,014       25,567 
    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, June 19, 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                                          145             8             0             0             0           ...           154 
U.S. Treasury securities (1)                                                                                                           
  Holdings                                  21,463        90,995       246,843       870,762       267,857       612,163     2,110,084 
  Weekly changes                        +   21,418    -   21,462    +        1    +       24    +       80    +       65    +      127 
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             8           301        71,969     1,476,517     1,548,796 
  Weekly changes                                 0             0             0    -        5    -      458    -    6,147    -    6,609 
Repurchase agreements (4)                        0             0           ...           ...           ...           ...             0 
Central bank liquidity swaps (5)                17             0             0             0             0             0            17 
                                                                                                                                       
Reverse repurchase agreements (4)          284,695             0           ...           ...           ...           ...       284,695 
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   
                                                                                                                      Jun 19, 2019  

Mortgage-backed securities held outright (1)                                                                             1,548,796  
                                                                                                                                    
Commitments to buy mortgage-backed securities (2)                                                                              757  
Commitments to sell mortgage-backed securities (2)                                                                               0  
                                                                                                                                    
Cash and cash equivalents (3)                                                                                                    1  



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       Jun 19, 2019   Wednesday    Wednesday  
                                                        consolidation                Jun 12, 2019 Jun 20, 2018 

Assets                                                                                                         
  Gold certificate account                                                   11,037            0            0  
  Special drawing rights certificate account                                  5,200            0            0  
  Coin                                                                        1,670   +        3   -      106  
  Securities, unamortized premiums and discounts,     
     repurchase agreements, and loans                                     3,780,225   -    6,760   -  468,294  
    Securities held outright (1)                                          3,661,227   -    6,482   -  450,794  
      U.S. Treasury securities                                            2,110,084   +      127   -  268,040  
        Bills (2)                                                                 5   -       45   +        5  
        Notes and bonds, nominal (2)                                      1,970,270            0   -  271,891  
        Notes and bonds, inflation-indexed (2)                              116,516            0   +    1,656  
        Inflation compensation (3)                                           23,293   +      173   +    2,190  
      Federal agency debt securities (2)                                      2,347            0   -       62  
      Mortgage-backed securities (4)                                      1,548,796   -    6,609   -  182,692  
    Unamortized premiums on securities held outright  
    (5)                                                                     131,780   -      410   -   18,511  
    Unamortized discounts on securities held outright 
    (5)                                                                     -12,936   +       30   +    1,018  
    Repurchase agreements (6)                                                     0            0            0  
    Loans                                                                       154   +      101   -        8  
  Net portfolio holdings of Maiden Lane LLC (7)                                   0            0   -    1,713  
  Items in process of collection                                   (0)           53   +       10   -       38  
  Bank premises                                                               2,192            0   +        3  
  Central bank liquidity swaps (8)                                               17   -        5   -       78  
  Foreign currency denominated assets (9)                                    20,811   -      100   -      302  
  Other assets (10)                                                          22,810   +      912   -    1,353  
                                                                                                               
Total assets                                                       (0)    3,844,016   -    5,939   -  471,880  

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       Jun 19, 2019   Wednesday    Wednesday  
                                                        consolidation                Jun 12, 2019 Jun 20, 2018 

Liabilities                                                                                                    
  Federal Reserve notes, net of F.R. Bank holdings                         1,689,656   -      605   +   75,626 
  Reverse repurchase agreements (11)                                         284,695   +   20,365   +   40,970 
  Deposits                                                          (0)    1,824,204   -   25,994   -  587,808 
    Term deposits held by depository institutions                                  0            0            0 
    Other deposits held by depository institutions                         1,501,524   -  108,214   -  450,619 
    U.S. Treasury, General Account                                           258,641   +   85,579   -  121,449 
    Foreign official                                                           5,244            0   -       11 
    Other (12)                                                      (0)       58,795   -    3,359   -   15,728 
  Deferred availability cash items                                  (0)          165   -      156   -       24 
  Other liabilities and accrued dividends (13)                                 6,078   +      422   -      285 
                                                                                                               
Total liabilities                                                   (0)    3,804,798   -    5,969   -  471,521 
                                                                                                               
Capital accounts                                                                                               
  Capital paid in                                                             32,392   +       28   +      316 
  Surplus                                                                      6,825            0   -      675 
  Other capital accounts                                                           0            0            0 
                                                                                                               
Total capital                                                                 39,217   +       28   -      359 

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, June 19, 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                                             1,670          38          38          145         114         214         184         281          31          47         104         185         288
  Securities, unamortized premiums and      
     discounts, repurchase agreements,      
     and loans                                 3,780,225      78,422   2,062,297       91,540     110,595     231,327     258,458     198,428      54,333      32,753      56,054     164,138     441,881
    Securities held outright (1)               3,661,227      75,956   1,997,458       88,662     107,118     224,054     250,329     192,183      52,621      31,681      54,290     158,975     427,898
      U.S. Treasury securities                 2,110,084      43,776   1,151,200       51,099      61,736     129,130     144,273     110,761      30,327      18,259      31,289      91,622     246,611
        Bills (2)                                      5           0           3            0           0           0           0           0           0           0           0           0           1
        Notes and bonds (3)                    2,110,079      43,776   1,151,197       51,099      61,736     129,129     144,273     110,761      30,327      18,259      31,289      91,622     246,611
      Federal agency debt securities (2)           2,347          49       1,280           57          69         144         160         123          34          20          35         102         274
      Mortgage-backed securities (4)           1,548,796      32,132     844,978       37,507      45,314      94,781     105,896      81,298      22,260      13,402      22,966      67,251     181,012
    Unamortized premiums on securities held 
      outright (5)                               131,780       2,734      71,895        3,191       3,856       8,064       9,010       6,917       1,894       1,140       1,954       5,722      15,402
    Unamortized discounts on securities     
      held outright (5)                          -12,936        -268      -7,057         -313        -378        -792        -884        -679        -186        -112        -192        -562      -1,512
    Repurchase agreements (6)                          0           0           0            0           0           0           0           0           0           0           0           0           0
    Loans                                            154           0           0            0           0           0           3           6           3          43           2           3          94
  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                      53           0           0            0           0           0          53           0           0           0           0           0           0
  Bank premises                                    2,192         107         457           81         118         192         207         191         104          94         229         221         191
  Central bank liquidity swaps (8)                    17           1           5            1           1           4           1           1           0           0           0           0           2
  Foreign currency denominated                                                                                                                                                                           
     assets (9)                                   20,811         896       6,605        1,202       1,661       4,437       1,210         869         317          99         201         257       3,055
  Other assets (10)                               22,810         490      11,935          547         673       1,597       1,542       1,167         527         235         409       1,056       2,633
  Interdistrict settlement account                     0  +    2,814  -  137,551   -    6,633  +   10,555  +      352  +   24,821  +    8,562  +    6,088  +    3,123  +    2,476  +   20,336  +   65,056
                                                                                                                                                                                                         
Total assets                                   3,844,016      83,315   1,949,311       87,421     124,485     239,288     288,690     210,633      61,878      36,628      59,919     187,365     515,081

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, June 19, 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            1,893,408      57,472     624,071      54,537      90,278     130,688     259,578     123,577      56,250      31,404      50,346     158,734     256,474
    Less: Notes held by F.R. Banks               203,752       6,273      50,515       8,337      10,283      15,172      31,812      12,939       6,240       3,401       8,072      20,289      30,417
      Federal Reserve notes, net               1,689,656      51,198     573,555      46,200      79,995     115,516     227,765     110,639      50,009      28,002      42,274     138,445     226,057
  Reverse repurchase agreements (11)             284,695       5,906     155,321       6,894       8,329      17,422      19,465      14,944       4,092       2,464       4,222      12,362      33,273
  Deposits                                     1,824,204      24,219   1,204,563      32,578      32,701      97,566      38,713      83,111       7,008       5,698      12,862      35,785     249,400
    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                           1,501,524      24,210     920,926      32,575      32,672      97,274      37,777      45,771       7,005       5,640      12,843      35,437     249,393
    U.S. Treasury, General Account               258,641           0     258,641           0           0           0           0           0           0           0           0           0           0
    Foreign official                               5,244           2       5,217           2           3           9           2           2           1           0           0           0           6
    Other (12)                                    58,795           8      19,779           1          26         284         933      37,338           3          57          18         348           1
  Deferred availability cash items                   165           0           0           0           0           0          46           0           0         119           0           0           0
  Earnings remittances due to the U.S.      
     Treasury (13)                                   984          16         559          20          26          33          99          50          17          10          14          60          79
  Other liabilities and accrued             
     dividends                                     5,094         190       2,114         197         222         581         318         321         136         147         153         226         490
                                                                                                                                                                                                        
Total liabilities                              3,804,798      81,530   1,936,112      85,890     121,273     231,119     286,406     209,065      61,263      36,439      59,525     186,877     509,299
                                                                                                                                                                                                        
Capital                                                                                                                                                                                                 
  Capital paid in                                 32,392       1,491      11,033       1,136       2,667       6,714       1,887       1,283         512         157         328         404       4,780
  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                  3,844,016      83,315   1,949,311      87,421     124,485     239,288     288,690     210,633      61,878      36,628      59,919     187,365     515,081

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, June 19, 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   
                                                                                          Jun 19, 2019  

Federal Reserve notes outstanding                                                            1,893,408  
  Less: Notes held by F.R. Banks not subject to collateralization                              203,752  
    Federal Reserve notes to be collateralized                                               1,689,656  
Collateral held against Federal Reserve notes                                                1,689,656  
  Gold certificate account                                                                      11,037  
  Special drawing rights certificate account                                                     5,200  
  U.S. Treasury, agency debt, and mortgage-backed securities pledged (1,2)                   1,673,419  
  Other assets pledged                                                                               0  
Memo:                                                                                                   
Total U.S. Treasury, agency debt, and mortgage-backed securities (1,2)                       3,661,227  
  Less: Face value of securities under reverse repurchase agreements                           277,591  
    U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged        3,383,636  

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.