FEDERAL RESERVE statistical release

H.4.1

Factors Affecting Reserve Balances of Depository Institutions and

Condition Statement of Federal Reserve Banks February 6, 2020

1. Factors Affecting Reserve Balances of Depository Institutions

Millions of dollars

Averages of daily figures

Change from week ended

Reserve Bank credit, related items, and

reserve balances of depository institutions at

Federal Reserve Banks

Week ended

Feb 5, 2020 Jan 29, 2020 Feb 6, 2019

Wednesday

Feb 5, 2020

Reserve Bank credit 4,119,939 + 4,731 + 133,606 4,128,065

Securities held outright1 3,805,473 + 11,989 - 24,498 3,817,516

U.S. Treasury securities 2,415,837 + 18,482 + 210,084 2,427,880

Bills2 236,820 + 13,930 + 236,820 247,536

Notes and bonds, nominal2 2,024,338 + 3,333 - 45,058 2,025,475

Notes and bonds, inflation-indexed2 129,245 + 1,240 + 14,476 129,451

Inflation compensation3 25,434 - 21 + 3,846 25,418

Federal agency debt securities2 2,347 0 - 62 2,347

Mortgage-backed securities4 1,387,289 - 6,492 - 234,520 1,387,289

Unamortized premiums on securities held outright5 123,542 - 188 - 14,833 123,542

Unamortized discounts on securities held outright5 -13,308 - 14 - 39 -13,333

Repurchase agreements6 175,319 - 6,992 + 175,319 170,250

Loans 6 0 - 9 1

Primary credit 5 - 1 + 1 0

Secondary credit 0 0 0 0

Seasonal credit 0 0 - 10 1

Other credit extensions 0 0 0 0

Net portfolio holdings of Maiden Lane LLC7 0 0 0 0

Float -344 - 159 - 101 -104

Central bank liquidity swaps8 48 - 3 - 18 48

Other Federal Reserve assets9 29,203 + 99 - 2,215 30,145

Foreign currency denominated assets10 20,620 + 108 - 369 20,453

Gold stock 11,041 0 0 11,041

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

Treasury currency outstanding11 50,176 + 14 + 379 50,176

Total factors supplying reserve funds 4,206,977 + 4,854 + 133,618 4,214,936

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

1. Factors Affecting Reserve Balances of Depository Institutions (continued)

Millions of dollars

Averages of daily figures

Change from week ended

Reserve Bank credit, related items, and

reserve balances of depository institutions at

Federal Reserve Banks

Week ended

Feb 5, 2020 Jan 29, 2020 Feb 6, 2019

Wednesday

Feb 5, 2020

Currency in circulation11 1,792,655 + 417 + 89,283 1,794,675

Reverse repurchase agreements12 244,544 + 8,921 - 12,423 239,163

Foreign official and international accounts 240,255 + 6,519 - 15,116 235,051

Others 4,289 + 2,402 + 2,693 4,112

Treasury cash holdings 219 + 11 - 41 228

Deposits with F.R. Banks, other than reserve balances 480,775 - 32,331 + 60,261 484,389

Term deposits held by depository institutions 0 0 0 0

U.S. Treasury, General Account 413,322 - 18,739 + 60,947 416,585

Foreign official 5,182 + 2 - 62 5,183

Other13 62,270 - 13,594 - 626 62,621

Other liabilities and capital14 43,768 - 838 + 76 43,607

Total factors, other than reserve balances,

absorbing reserve funds 2,561,960 - 23,821 + 137,154 2,562,063

Reserve balances with Federal Reserve Banks 1,645,016 + 28,674 - 3,537 1,652,873

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.
H.4.1

1A. Memorandum Items

Millions of dollars

Averages of daily figures

Memorandum item Week ended Change from week ended

Feb 5, 2020 Jan 29, 2020 Feb 6, 2019

Wednesday

Feb 5, 2020

Securities held in custody for foreign official and international

accounts 3,426,345 - 8,028 - 572 3,435,564

Marketable U.S. Treasury securities1 2,979,721 - 5,763 - 57,404 2,989,080

Federal agency debt and mortgage-backed securities2 364,874 - 333 + 45,629 364,953

Other securities3 81,750 - 1,931 + 11,204 81,531

Securities lent to dealers 31,429 + 2,731 + 8,977 34,868

Overnight facility4 31,429 + 2,731 + 8,977 34,868

U.S. Treasury securities 31,429 + 2,731 + 8,977 34,868

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 5, 2020

Millions of dollars

Remaining Maturity Within 15

days

16 days to

90 days

91 days to

1 year

Over 1 year

to 5 years

Over 5 year

to 10 years

Over 10

years

All

Loans 0 1 0 0 0 ... 1

U.S. Treasury securities1

Holdings 53,364 115,176 378,638 917,955 319,329 643,419 2,427,880

Weekly changes + 25,098 - 20,026 + 105 + 9,736 + 3,731 + 129 + 18,772

Federal agency debt securities2

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

Weekly changes 0 0 0 0 0 0 0

Mortgage-backed securities3

Holdings 0 1 4 1,394 71,691 1,314,200 1,387,289

Weekly changes 0 + 1 + 1 + 245 + 815 - 1,060 + 1

Repurchase agreements4 170,250 0 ... ... ... ... 170,250

Central bank liquidity swaps5 48 0 0 0 0 0 48

Reverse repurchase agreements4 239,163 0 ... ... ... ... 239,163

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

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

...Not applicable.

1. Face value. For inflation-indexed securities, includes the original face value and compensation that adjusts for the effect of inflation on the

original face value of such securities.

2. Face value.

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

4. Cash value of agreements.

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

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

central bank.
H.4.1

3. Supplemental Information on Mortgage-Backed Securities

Millions of dollars

Wednesday Account name Feb 5, 2020

Mortgage-backed securities held outright1 1,387,289

Commitments to buy mortgage-backed securities2 7,770

Commitments to sell mortgage-backed securities2 0

Cash and cash equivalents3 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.
H.4.1

4. Consolidated Statement of Condition of All Federal Reserve Banks

Millions of dollars

Change since

Assets, liabilities, and capital Wednesday Wednesday Eliminations from

consolidation

Wednesday

Feb 5, 2020 Jan 29, 2020 Feb 6, 2019

Assets

Gold certificate account 11,037 0 0

Special drawing rights certificate account 5,200 0 0

Coin 1,772 + 5 - 39

Securities, unamortized premiums and discounts,

repurchase agreements, and loans 4,097,977 + 13,854 + 143,007

Securities held outright1 3,817,516 + 18,773 - 12,414

U.S. Treasury securities 2,427,880 + 18,772 + 222,167

Bills2 247,536 + 15,002 + 247,536

Notes and bonds, nominal2 2,025,475 + 2,354 - 43,921

Notes and bonds, inflation-indexed2 129,451 + 1,446 + 14,682

Inflation compensation3 25,418 - 30 + 3,870

Federal agency debt securities2 2,347 0 - 62

Mortgage-backed securities4 1,387,289 + 1 - 234,520

Unamortized premiums on securities held outright5 123,542 + 15 - 14,739

Unamortized discounts on securities held outright5 -13,333 - 27 - 75

Repurchase agreements6 170,250 - 4,875 + 170,250

Loans 1 - 33 - 15

Net portfolio holdings of Maiden Lane LLC7 0 0 0

Items in process of collection (0) 76 + 22 + 10

Bank premises 2,193 - 17 - 6

Central bank liquidity swaps8 48 - 3 - 18

Foreign currency denominated assets9 20,453 - 46 - 441

Other assets10 27,952 + 1,263 - 2,156

Total assets (0) 4,166,707 + 15,077 + 140,357

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

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

Millions of dollars

Change since

Assets, liabilities, and capital Wednesday Wednesday Eliminations from

consolidation

Wednesday

Feb 5, 2020 Jan 29, 2020 Feb 6, 2019

Liabilities

Federal Reserve notes, net of F.R. Bank holdings 1,746,494 + 1,897 + 88,883

Reverse repurchase agreements11 239,163 + 5,759 - 9,067

Deposits (0) 2,137,263 + 8,499 + 60,600

Term deposits held by depository institutions 0 0 0

Other deposits held by depository institutions 1,652,873 + 40,650 - 5,990

U.S. Treasury, General Account 416,585 - 33,952 + 62,689

Foreign official 5,183 + 2 - 61

Other12 (0) 62,621 + 1,798 + 3,961

Deferred availability cash items (0) 180 - 549 - 77

Other liabilities and accrued dividends13 5,105 - 508 + 667

Total liabilities (0) 4,128,205 + 15,097 + 141,005

Capital accounts

Capital paid in 31,677 - 20 - 649

Surplus 6,825 0 0

Other capital accounts 0 0 0

Total capital 38,502 - 20 - 649

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.
H.4.1

5. Statement of Condition of Each Federal Reserve Bank, February 5, 2020

Millions of dollars

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

Assets

Gold 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 1,772 43 54 157 100 236 178 286 36 51 120 207 304

Securities, unamortized premiums and

discounts, repurchase agreements,

and loans 4,097,977 85,017 2,235,736 99,239 119,896 250,781 280,191 215,109 58,899 35,461 60,766 177,939 478,942

Securities held outright1 3,817,516 79,199 2,082,725 92,447 111,691 233,618 261,015 200,387 54,868 33,034 56,608 165,761 446,164

U.S. Treasury securities 2,427,880 50,369 1,324,580 58,795 71,034 148,578 166,002 127,443 34,895 21,009 36,002 105,421 283,753

Bills2 247,536 5,135 135,048 5,994 7,242 15,148 16,925 12,994 3,558 2,142 3,671 10,748 28,930

Notes and bonds3 2,180,344 45,234 1,189,532 52,801 63,791 133,429 149,077 114,449 31,337 18,867 32,331 94,673 254,823

Federal agency debt securities2 2,347 49 1,280 57 69 144 160 123 34 20 35 102 274

Mortgage-backed securities4 1,387,289 28,781 756,864 33,595 40,589 84,897 94,853 72,821 19,939 12,005 20,571 60,238 162,136

Unamortized premiums on securities 

held outright5 123,542 2,563 67,401 2,992 3,615 7,560 8,447 6,485 1,776 1,069 1,832 5,364 14,439

Unamortized discounts on securities 

held outright5 -13,333 -277 -7,274 -323 -390 -816 -912 -700 -192 -115 -198 -579 -1,558

Repurchase agreements6 170,250 3,532 92,883 4,123 4,981 10,419 11,641 8,937 2,447 1,473 2,525 7,392 19,898

Loans 1 0 0 0 0 0 0 1 0 0 0 0 0

Net portfolio holdings of Maiden

Lane LLC7 0 0 0 0 0 0 0 0 0 0 0 0 0

Items in process of collection 76 0 0 0 0 0 75 0 0 1 0 0 0

Bank premises 2,193 105 454 91 117 191 202 192 102 93 228 222 196

Central bank liquidity swaps8 48 2 15 3 4 10 3 2 1 0 0 1 7

Foreign currency denominated

assets9 20,453 881 6,492 1,182 1,633 4,361 1,189 854 312 97 198 253 3,002

Other assets10 27,952 598 14,757 672 838 1,951 1,892 1,439 516 308 509 1,241 3,230

Interdistrict settlement account 0 + 10,484 - 60,623 - 12,806 + 8,703 - 6,172 + 22,703 + 4,844 + 8,590 + 3,681 + 6,238 + 22,008 - 7,651

Total assets 4,166,707 97,676 2,202,410 89,074 132,059 252,525 308,648 223,863 68,934 39,968 68,504 203,043 480,005

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

5. Statement of Condition of Each Federal Reserve Bank, February 5, 2020 (continued)

Millions of dollars

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

Liabilities

Federal Reserve notes outstanding 1,958,571 60,819 642,988 57,489 93,786 134,241 273,647 126,673 59,429 32,059 54,155 163,965 259,319

Less: Notes held by F.R. Banks 212,077 6,241 51,572 8,917 10,145 17,059 33,082 13,499 5,286 3,055 7,137 19,998 36,086

Federal Reserve notes, net 1,746,494 54,578 591,416 48,573 83,641 117,183 240,565 113,174 54,142 29,004 47,018 143,967 223,233

Reverse repurchase agreements11 239,163 4,962 130,481 5,792 6,997 14,636 16,352 12,554 3,437 2,070 3,546 10,385 27,952

Deposits 2,137,263 36,135 1,465,406 33,138 37,921 112,060 49,400 96,311 10,556 8,331 17,358 47,983 222,663

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 1,652,873 36,109 1,020,306 33,136 37,842 111,816 49,366 57,575 10,553 8,279 17,325 47,910 222,657

U.S. Treasury, General Account 416,585 0 416,585 0 0 0 0 0 0 0 0 0 0

Foreign official 5,183 2 5,155 2 3 9 2 2 1 0 0 0 6

Other12 62,621 24 23,360 0 75 235 32 38,734 2 51 33 73 1

Deferred availability cash items 180 0 0 0 0 0 69 0 0 111 0 0 0

Earnings remittances due to the U.S.

Treasury13 1,082 15 591 26 34 26 98 52 30 15 20 56 119

Other liabilities and accrued

dividends 4,023 158 1,569 158 174 489 268 277 136 137 155 195 309

Total liabilities 4,128,205 95,847 2,189,463 87,687 128,767 244,394 306,752 222,367 68,302 39,667 68,098 202,585 474,275

Capital

Capital paid in 31,677 1,505 10,653 1,141 2,708 6,690 1,557 1,231 520 248 334 377 4,713

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 4,166,707 97,676 2,202,410 89,074 132,059 252,525 308,648 223,863 68,934 39,968 68,504 203,043 480,005

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

5. Statement of Condition of Each Federal Reserve Bank, February 5, 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).
H.4.1

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

Millions of dollars

Wednesday Federal Reserve notes and collateral Feb 5, 2020

Federal Reserve notes outstanding 1,958,571

Less: Notes held by F.R. Banks not subject to collateralization 212,077

Federal Reserve notes to be collateralized 1,746,494

Collateral held against Federal Reserve notes 1,746,494

Gold certificate account 11,037

Special drawing rights certificate account 5,200

U.S. Treasury, agency debt, and mortgage-backed securities pledged1,2 1,730,257

Other assets pledged 0

Memo:

Total U.S. Treasury, agency debt, and mortgage-backed securities1,2 3,987,766

Less: Face value of securities under reverse repurchase agreements 234,548

U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 3,753,218

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.