FEDERAL 
RESERVEstatistical 
release



For Release at

4:30 P.M.EDT

March 19, 2020





The Board's H.4.1 statistical 
release, "Factors Affecting Reserve Balances of Depository Institutions and 
Condition Statement of Federal Reserve Banks," hasbeenmodifiedto consolidate certain lines on 
table 5. Modifications include the 
consolidation of amounts previously reported as “Loans,” which includes discount 
window borrowing, into the line “Securities, unamortized premiums 
and discounts, repurchase agreements, and loans.” This modification supports the 
Federal Reserve’s goal, expressed in its statement on March 15, 2020, of 
encouraging depository institutions to use the discount window to help meet 
demands for credit from households and businesses, including needs related to 
the spread of the coronavirus.More detailed information about 
specific components 
is available on tables 1 and 4.



(See:https://www.federalreserve.gov/newsevents/pressreleases/monetary20200315b.htmfor the Board's March 15 
statement.)



FEDERAL 
RESERVEstatistical 
release



H.4.1

|Factors Affecting Reserve Balances of Depository Institutions and 
      Condition Statement of Federal Reserve Banks
|----------------------------------------------------------------------------------------------------------------------



1.Factors Affecting Reserve Balances 
of Depository Institutions

Millionsof dollars

|Reserve Bank credit, related items, andreserve balances of 
      depository institutions at Federal Reserve Banks | Averages of daily figures | WednesdayMar 18, 2020
|------------------------------------------------------------------------------------------------------------------- | ------------------------- | ---------------------
|
|
|4,463,041                                                                                                           | +  241,451                | +  534,834           
|3,929,025                                                                                                           | +   38,893                | +  147,655           
|2,556,247                                                                                                           | +   40,307                | +  380,731           
|321,043                                                                                                             | +    6,430                | +  321,043           
|2,075,200                                                                                                           | +   32,062                | +   36,189           
|133,939                                                                                                             | +    1,515                | +   18,785           
|26,066                                                                                                              | +      302                | +    4,715           
|2,347                                                                                                               | 0                         | -       62           
|1,370,430                                                                                                           | -    1,416                | -  233,015           
|128,537                                                                                                             | +    4,078                | -    7,841           
|-12,887                                                                                                             | +      507                | +      277           
|388,806                                                                                                             | +  189,505                | +  388,806           
|6,687                                                                                                               | +    6,679                | +    6,677           
|6,687                                                                                                               | +    6,679                | +    6,686           
|0                                                                                                                   | 0                         | 0                    
|0                                                                                                                   | 0                         | -        9           
|0                                                                                                                   | 0                         | 0                    
|0                                                                                                                   | 0                         | 0                    
|-230                                                                                                                | -       36                | -       58           
|45                                                                                                                  | -       13                | -       23           
|23,059                                                                                                              | +    1,841                | -      658           
|20,700                                                                                                              | -      487                | -        2           
|11,041                                                                                                              | 0                         | 0                    
|5,200                                                                                                               | 0                         | 0                    
|50,225                                                                                                              | +       14                | +      377           
|                                                                                                                    |                           |                      
|4,550,208                                                                                                           | +  240,979                | +  535,211           

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)

Millionsof dollars

|Reserve Bank credit, related items, and reserve balances of 
      depository institutions atFederal Reserve Banks | Averages of daily figures | WednesdayMar 18, 2020
|------------------------------------------------------------------------------------------------------------------- | ------------------------- | ---------------------
|
|
|1,827,149                                                                                                           | +   13,078                | +  106,546           
|242,056                                                                                                             | +   13,993                | -    3,897           
|231,492                                                                                                             | +    5,375                | -   13,552           
|10,565                                                                                                              | +    8,619                | +    9,656           
|317                                                                                                                 | +       10                | -       18           
|540,241                                                                                                             | +   64,114                | +  166,549           
|0                                                                                                                   | 0                         | 0                    
|362,576                                                                                                             | -   17,980                | +   58,953           
|6,359                                                                                                               | +    1,004                | +    1,115           
|171,306                                                                                                             | +   81,089                | +  106,481           
|44,857                                                                                                              | -    1,279                | +      174           
|                                                                                                                    |                           |                      
|2,654,620                                                                                                           | +   89,916                | +  269,354           
|                                                                                                                    |                           |                      
|1,895,588                                                                                                           | +  151,063                | +  265,857           

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

|1.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|Face value of the securities.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               
|Compensation that adjusts for the effect of inflation on the original 
      face value of inflation-indexed securities.                                                                                                                                                                                                                                                                                                                                                                                                                                   
|Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. The current face 
      value shown is the remaining principal balance of the 
    securities.                                                                                                                                                                                                                                                                                                                                                                                                     
|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.                                                                                                                                                                                                                                       
|Cash value of agreements.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   
|Refer to the note on consolidation accompanying table 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.                                                                                                                                                                                                                        
|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.                                                                                                                                                                                                                                                                                                                                       
|Revalued daily at current foreign currency exchange rates.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  
|Estimated.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  
|Cash value of agreements, which are collateralized by U.S. Treasury 
      securities, federal agency debt securities, and mortgage-backed 
      securities.                                                                                                                                                                                                                                                                                                                                                                                             
|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.
|Includes the liability for earnings remittances due to the U.S. 
      Treasury.                                                                                                                                                                                                                                                                                                                                                                                                                                                                           
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            



Sources: Federal Reserve Banks and 
the U.S. Department of theTreasury.







1A.Memorandum Items

Millionsof dollars

|Memorandum item | Averages of daily figures | WednesdayMar 18, 2020
|--------------- | ------------------------- | ---------------------
|
|
|3,410,689       | -   29,305                | -   68,695           
|2,948,649       | -   31,421                | -  134,120           
|378,819         | +    1,580                | +   53,508           
|83,222          | +      538                | +   11,919           
|35,027          | +    1,177                | +   12,052           
|35,027          | +    1,177                | +   12,052           
|35,027          | +    1,177                | +   12,052           
|0               | 0                         | 0                    

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

|1.                                                                                                                                                                       
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|Face value of federal agency securities and current face value of 
      mortgage-backed securities, which is the remaining principal balance of 
      the securities.
|Includes non-marketable U.S. Treasury securities, supranationals, 
      corporate bonds, asset-backed securities, and commercial paper at face 
      value.          
|Face value. Fully collateralized by U.S. Treasury 
  securities.                                                                                                        







|2. Maturity Distribution of Securities, Loans, and Selected Other 
      Assets and Liabilities, March 18, 2020
|----------------------------------------------------------------------------------------------------------------

Millionsof dollars

|Remaining Maturity | Within 15days | 16 days to90 days | 91 days to1 year | Over 1 yearto 5 years | Over 5 yearto 10 years | Over 10years | All
|------------------ | ------------- | ----------------- | ---------------- | --------------------- | ---------------------- | ------------ | ---
|5,086              | 23,138        | 0                 | 0                | 0                     | ...                    | 28,224      
|                   |               |                   |                  |                       |                        |             
|35,806             | 211,429       | 387,117           | 966,762          | 357,666               | 681,991                | 2,640,771   
|+   14,379         | -   10,532    | +    8,714        | +   51,661       | +   29,760            | +   23,759             | +  117,740  
|                   |               |                   |                  |                       |                        |             
|0                  | 0             | 0                 | 0                | 1,151                 | 1,196                  | 2,347       
|0                  | 0             | 0                 | 0                | 0                     | 0                      | 0           
|                   |               |                   |                  |                       |                        |             
|0                  | 0             | 3                 | 1,644            | 71,329                | 1,293,699              | 1,366,676   
|0                  | 0             | -        1        | -        5       | -      483            | -    4,681             | -    5,170  
|253,995            | 187,950       | ...               | ...              | ...                   | ...                    | 441,945     
|45                 | 0             | 0                 | 0                | 0                     | 0                      | 45          
|                   |               |                   |                  |                       |                        |             
|233,946            | 0             | ...               | ...              | ...                   | ...                    | 233,946     
|0                  | 0             | 0                 | ...              | ...                   | ...                    | 0           

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



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

Millionsof dollars

|Account name | Wednesday
|------------ | ---------
|
|1,366,676   
|            
|19,506      
|0           
|            
|0           



|1.                                                                                                                                                                 
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------
|Current face value. Generally settle within 180 days and include 
      commitments associated with outright transactions, dollar rolls, and 
      coupon swaps.
|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

Millionsof dollars

|Assets, liabilities, and capital | Eliminations from consolidation | WednesdayMar 18, 2020 | Change since
|-------------------------------- | ------------------------------- | --------------------- | ------------
|
|
|                                 |                                 |                       |             
|                                 | 11,037                          | 0                     | 0           
|                                 | 5,200                           | 0                     | 0           
|                                 | 1,675                           | -       54            | -       70  
|                                 | 4,606,221                       | +  355,555            | +  705,807  
|                                 | 4,009,794                       | +  112,570            | +  232,376  
|                                 | 2,640,771                       | +  117,740            | +  465,234  
|                                 | 321,043                         | 0                     | +  321,043  
|                                 | 2,154,496                       | +  111,014            | +  115,485  
|                                 | 138,653                         | +    6,000            | +   23,499  
|                                 | 26,579                          | +      726            | +    5,206  
|                                 | 2,347                           | 0                     | -       62  
|                                 | 1,366,676                       | -    5,170            | -  232,796  
|                                 | 138,294                         | +   13,871            | +    2,156  
|                                 | -12,036                         | +    1,330            | +    1,117  
|                                 | 441,945                         | +  199,570            | +  441,945  
|                                 | 28,224                          | +   28,213            | +   28,213  
|                                 | 0                               | 0                     | 0           
|(0)                              | 51                              | -        8            | -        4  
|                                 | 2,202                           | +        3            | -        2  
|                                 | 45                              | -       13            | -       23  
|                                 | 20,363                          | -      784            | -      370  
|                                 | 21,418                          | +    1,603            | +      124  
|                                 |                                 |                       |             
|(0)                              | 4,668,212                       | +  356,301            | +  705,464  

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)

Millionsof dollars

|Assets, liabilities, and capital | Eliminations from consolidation | WednesdayMar 18, 2020 | Change since
|-------------------------------- | ------------------------------- | --------------------- | ------------
|
|
|                                 |                                 |                       |             
|                                 | 1,795,024                       | +   24,238            | +  120,527  
|                                 | 233,946                         | +      671            | -    6,926  
|(0)                              | 2,595,127                       | +  332,772            | +  592,254  
|                                 | 0                               | 0                     | 0           
|                                 | 1,945,394                       | +  165,404            | +  321,582  
|                                 | 401,354                         | +   29,017            | +   86,605  
|                                 | 6,887                           | +    1,700            | +    1,643  
|(0)                              | 241,491                         | +  136,649            | +  182,422  
|(0)                              | 278                             | -       93            | +       44  
|                                 | 5,229                           | -    1,300            | +      275  
|                                 |                                 |                       |             
|(0)                              | 4,629,604                       | +  356,287            | +  706,173  
|                                 |                                 |                       |             
|                                 |                                 |                       |             
|                                 | 31,784                          | +       15            | -      709  
|                                 | 6,825                           | 0                     | 0           
|                                 | 0                               | 0                     | 0           
|                                 |                                 |                       |             
|                                 | 38,609                          | +       15            | -      709  

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

|1.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|Face value of the securities.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               
|Compensation that adjusts for the effect of inflation on the original 
      face value of inflation-indexed securities.                                                                                                                                                                                                                                                                                                                                                                                                                                   
|Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. The current face 
      value shown is the remaining principal balance of the 
securities.                                                                                                                                                                                                                                                                                                                                                                                                         
|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.                                                                                                                                                                                                                                       
|Cash value of agreements, which are collateralized by U.S. Treasury and 
      federal agency securities.                                                                                                                                                                                                                                                                                                                                                                                                                                                  
|Refer to the note on consolidation accompanying table 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.                                                                                                                                                                                                                        
|Revalued daily at current foreign currency exchange rates.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  
|Includes accrued interest, which represents the daily accumulation of 
      interest earned, and other accounts receivable.                                                                                                                                                                                                                                                                                                                                                                                                                               
|Cash value of agreements, which are collateralized by U.S. Treasury 
      securities, federal agency debt securities, and mortgage-backed 
      securities.                                                                                                                                                                                                                                                                                                                                                                                             
|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.
|Includes the liability for earnings remittances due to the U.S. 
      Treasury.                                                                                                                                                                                                                                                                                                                                                                                                                                                                           







5.Statement of Condition of Each 
Federal Reserve Bank, March 18, 2020

Millionsof dollars

|Assets, liabilities, and capital | Total      | Boston     | New York   | Philadelphia | Cleveland  | Richmond   | Atlanta    | Chicago    | St. Louis  | Minneapolis | Kansas     | Dallas     | San
|-------------------------------- | ---------- | ---------- | ---------- | ------------ | ---------- | ---------- | ---------- | ---------- | ---------- | ----------- | ---------- | ---------- | ---
|
|                                 |            |            |            |              |            |            |            |            |            |             |            |           
|16,237                           | 547        | 5,525      | 537        | 768          | 1,166      | 2,214      | 1,135      | 478        | 276        | 445         | 1,172      | 1,974     
|1,675                            | 37         | 50         | 160        | 91           | 226        | 150        | 285        | 29         | 52         | 114         | 187        | 294       
|4,606,221                        | 96,547     | 2,516,701  | 111,042    | 135,216      | 280,260    | 313,014    | 241,539    | 66,051     | 39,799     | 68,331      | 199,987    | 537,735   
|45                               | 2          | 14         | 3          | 4            | 10         | 3          | 2          | 1          | 0          | 0           | 1          | 7         
|                                 |            |            |            |              |            |            |            |            |            |             |            |           
|20,363                           | 877        | 6,463      | 1,176      | 1,625        | 4,341      | 1,184      | 850        | 310        | 97         | 197         | 252        | 2,989     
|23,672                           | 561        | 11,525     | 604        | 750          | 1,727      | 1,689      | 1,279      | 701        | 316        | 623         | 1,234      | 2,662     
|0                                | +   25,207 | -  184,311 | +    1,336 | +   16,438   | +   18,062 | +    1,738 | +   65,849 | +    3,940 | +    2,625 | +    6,771  | +   13,253 | +   29,092
|                                 |            |            |            |              |            |            |            |            |            |             |            |           
|4,668,212                        | 123,777    | 2,355,967  | 114,858    | 154,892      | 305,792    | 319,990    | 310,939    | 71,511     | 43,165     | 76,482      | 216,085    | 574,753   

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, March 18, 2020(continued)

Millionsof dollars

|Assets, liabilities, and capital | Total   | Boston    | New York | Philadelphia | Cleveland | Richmond | Atlanta | Chicago | St. Louis | Minneapolis | Kansas  | Dallas  | San
|-------------------------------- | ------- | --------- | -------- | ------------ | --------- | -------- | ------- | ------- | --------- | ----------- | ------- | ------- | ---
|
|                                 |         |           |          |              |           |          |         |         |           |             |         |        
|1,795,024                        | 55,980  | 606,367   | 49,461   | 86,852       | 120,189   | 247,928  | 116,091 | 55,545  | 29,781    | 47,859      | 146,523 | 232,450
|233,946                          | 4,853   | 127,634   | 5,665    | 6,845        | 14,317    | 15,996   | 12,280  | 3,362   | 2,024     | 3,469       | 10,158  | 27,342 
|2,595,127                        | 60,957  | 1,606,382 | 58,190   | 57,732       | 162,703   | 53,797   | 180,760 | 11,832  | 10,664    | 24,564      | 58,692  | 308,854
|1,945,394                        | 60,899  | 1,065,463 | 58,187   | 57,670       | 161,973   | 53,749   | 80,362  | 11,828  | 10,597    | 21,630      | 55,710  | 307,327
|401,354                          | 0       | 401,354   | 0        | 0            | 0         | 0        | 0       | 0       | 0         | 0           | 0       | 0      
|6,887                            | 2       | 6,860     | 2        | 3            | 9         | 2        | 2       | 1       | 0         | 0           | 0       | 6      
|241,491                          | 56      | 132,705   | 0        | 59           | 721       | 46       | 100,396 | 4       | 67        | 2,934       | 2,982   | 1,521  
|947                              | -1      | 696       | -4       | -7           | -18       | 78       | 45      | 7       | 3         | 15          | 65      | 67     
|4,560                            | 159     | 1,887     | 158      | 173          | 469       | 293      | 266     | 131     | 387       | 165         | 185     | 288    
|                                 |         |           |          |              |           |          |         |         |           |             |         |        
|4,629,604                        | 121,948 | 2,342,966 | 113,471  | 151,595      | 297,659   | 318,091  | 309,442 | 70,877  | 42,859    | 76,072      | 215,622 | 569,001
|                                 |         |           |          |              |           |          |         |         |           |             |         |        
|                                 |         |           |          |              |           |          |         |         |           |             |         |        
|31,784                           | 1,506   | 10,707    | 1,141    | 2,714        | 6,693     | 1,561    | 1,233   | 522     | 252       | 338         | 382     | 4,736  
|6,825                            | 324     | 2,294     | 246      | 583          | 1,441     | 338      | 265     | 112     | 53        | 72          | 81      | 1,016  
|0                                | 0       | 0         | 0        | 0            | 0         | 0        | 0       | 0       | 0         | 0           | 0       | 0      
|                                 |         |           |          |              |           |          |         |         |           |             |         |        
|4,668,212                        | 123,777 | 2,355,967 | 114,858  | 154,892      | 305,792   | 319,990  | 310,939 | 71,511  | 43,165    | 76,482      | 216,085 | 574,753

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, March 18, 2020(continued)



|1.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|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.                                                                                                                                                                                                                        
|Revalued daily at current foreign currency exchange rates.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  
|Includes items in process of collection, bank premises, accrued 
      interest (which represents the daily accumulation of interest earned), and 
      other accounts receivable. Also includes Net portfolio holdings of Maiden 
      Lane LLC; refer to the note on consolidation for additional information.                                                                                                                                                                                                                                       
|Cash value of agreements, which are collateralized by U.S. Treasury 
      securities, federal agency debt securities, and mortgage-backed 
      securities.                                                                                                                                                                                                                                                                                                                                                                                             
|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.
|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.                                                                                                                                                                                                  
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            



Noteon 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 asa component 
of Otherassets on the 
previous page (andas 
assetsin 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

Millionsof dollars

|Federal Reserve notes and collateral | Wednesday
|------------------------------------ | ---------
|
|1,967,167                           
|172,142                             
|1,795,024                           
|1,795,024                           
|11,037                              
|5,200                               
|1,778,788                           
|0                                   
|                                    
|4,451,739                           
|226,814                             
|4,224,924                           

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.