FEDERAL RESERVE statistical release

H.4.1

Factors Affecting Reserve Balances of Depository Institutions and

Condition Statement of Federal Reserve Banks November 7, 2019

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

Nov 6, 2019 Oct 30, 2019 Nov 7, 2018

Wednesday

Nov 6, 2019

Reserve Bank credit 3,999,741 + 33,802 - 102,368 4,000,728

Securities held outright1 3,630,367 + 17,569 - 311,453 3,642,441

U.S. Treasury securities 2,182,249 + 19,274 - 88,173 2,194,318

Bills2 55,294 + 15,002 + 55,241 66,010

Notes and bonds, nominal2 1,979,652 + 2,482 - 153,110 1,980,995

Notes and bonds, inflation-indexed2 122,771 + 1,778 + 7,192 122,771

Inflation compensation3 24,532 + 12 + 2,503 24,542

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

Mortgage-backed securities4 1,445,771 - 1,705 - 223,218 1,445,776

Unamortized premiums on securities held outright5 126,612 - 147 - 16,469 126,604

Unamortized discounts on securities held outright5 -12,755 - 54 + 766 -12,781

Repurchase agreements6 227,103 + 15,367 + 227,103 215,160

Loans 25 - 30 - 76 22

Primary credit 1 - 12 - 9 2

Secondary credit 0 0 0 0

Seasonal credit 25 - 17 - 66 20

Other credit extensions 0 0 0 0

Net portfolio holdings of Maiden Lane LLC7 0 0 - 7 0

Float -191 + 58 - 45 -122

Central bank liquidity swaps8 46 + 5 - 34 46

Other Federal Reserve assets9 28,535 + 1,036 - 2,152 29,357

Foreign currency denominated assets10 20,721 + 83 + 43 20,607

Gold stock 11,041 0 0 11,041

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

Treasury currency outstanding11 50,064 + 14 + 338 50,064

Total factors supplying reserve funds 4,086,767 + 33,899 - 101,987 4,087,640

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

Nov 6, 2019 Oct 30, 2019 Nov 7, 2018

Wednesday

Nov 6, 2019

Currency in circulation11 1,782,287 + 6,218 + 85,667 1,784,936

Reverse repurchase agreements12 294,271 + 7,557 + 65,644 288,496

Foreign official and international accounts 292,025 + 5,418 + 65,548 286,846

Others 2,246 + 2,138 + 96 1,650

Treasury cash holdings 196 + 4 - 36 194

Deposits with F.R. Banks, other than reserve balances 440,607 - 20,704 + 48,666 440,024

Term deposits held by depository institutions 0 0 0 0

U.S. Treasury, General Account 377,029 - 12,843 + 57,045 378,184

Foreign official 5,183 - 4 - 73 5,183

Other13 58,395 - 7,857 - 8,305 56,657

Other liabilities and capital14 45,466 + 588 + 263 45,233

Total factors, other than reserve balances,

absorbing reserve funds 2,562,827 - 6,339 + 200,204 2,558,883

Reserve balances with Federal Reserve Banks 1,523,939 + 40,237 - 302,192 1,528,757

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

Nov 6, 2019 Oct 30, 2019 Nov 7, 2018

Wednesday

Nov 6, 2019

Securities held in custody for foreign official and international

accounts 3,418,865 - 2,796 + 3,771 3,418,520

Marketable U.S. Treasury securities1 2,973,035 - 3,372 - 69,665 2,972,644

Federal agency debt and mortgage-backed securities2 362,329 + 330 + 56,291 362,340

Other securities3 83,500 + 245 + 17,144 83,536

Securities lent to dealers 27,153 + 4,704 + 8,543 23,728

Overnight facility4 27,153 + 4,704 + 8,543 23,728

U.S. Treasury securities 27,153 + 4,704 + 8,543 23,728

Federal agency debt securities 0 0 0 0

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

1. Includes securities and U.S. Treasury STRIPS at face value, and inflation compensation on TIPS. Does not include securities pledged as collateral

to foreign official and international account holders against reverse repurchase agreements with the Federal Reserve presented in tables 1, 4, and 5.

2. Face value of federal agency securities and current face value of mortgage-backed securities, which is the remaining principal balance of the

securities.

3. Includes non-marketable U.S. Treasury securities, supranationals, corporate bonds, asset-backed securities, and commercial paper at face value.

4. Face value. Fully collateralized by U.S. Treasury securities.

2. Maturity Distribution of Securities, Loans, and Selected Other Assets and Liabilities, November 6, 2019

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 6 16 0 0 0 ... 22

U.S. Treasury securities1

Holdings 41,822 65,966 285,932 866,728 308,578 625,292 2,194,318

Weekly changes + 24,039 - 15,993 - 6,074 + 10,606 + 6,173 + 77 + 18,827

Federal agency debt securities2

Holdings 0 0 0 0 486 1,861 2,347

Weekly changes 0 0 0 0 0 0 0

Mortgage-backed securities3

Holdings 0 0 15 953 77,491 1,367,317 1,445,776

Weekly changes 0 0 + 7 + 42 + 385 - 420 + 14

Repurchase agreements4 215,160 0 ... ... ... ... 215,160

Central bank liquidity swaps5 46 0 0 0 0 0 46

Reverse repurchase agreements4 288,496 0 ... ... ... ... 288,496

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 Nov 6, 2019

Mortgage-backed securities held outright1 1,445,776

Commitments to buy mortgage-backed securities2 8,109

Commitments to sell mortgage-backed securities2 0

Cash and cash equivalents3 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.
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

Nov 6, 2019 Oct 30, 2019 Nov 7, 2018

Assets

Gold certificate account 11,037 0 0

Special drawing rights certificate account 5,200 0 0

Coin 1,674 0 - 59

Securities, unamortized premiums and discounts,

repurchase agreements, and loans 3,971,447 + 18,377 - 99,990

Securities held outright1 3,642,441 + 18,841 - 299,393

U.S. Treasury securities 2,194,318 + 18,827 - 76,118

Bills2 66,010 + 15,002 + 65,957

Notes and bonds, nominal2 1,980,995 + 2,024 - 151,767

Notes and bonds, inflation-indexed2 122,771 + 1,778 + 7,192

Inflation compensation3 24,542 + 23 + 2,499

Federal agency debt securities2 2,347 0 - 62

Mortgage-backed securities4 1,445,776 + 14 - 223,213

Unamortized premiums on securities held outright5 126,604 - 48 - 16,406

Unamortized discounts on securities held outright5 -12,781 - 31 + 729

Repurchase agreements6 215,160 - 340 + 215,160

Loans 22 - 46 - 81

Net portfolio holdings of Maiden Lane LLC7 0 0 - 7

Items in process of collection (0) 76 + 22 - 58

Bank premises 2,186 - 14 0

Central bank liquidity swaps8 46 + 5 - 33

Foreign currency denominated assets9 20,607 - 53 - 110

Other assets10 27,171 + 1,284 - 2,233

Total assets (0) 4,039,443 + 19,620 - 102,493

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

Nov 6, 2019 Oct 30, 2019 Nov 7, 2018

Liabilities

Federal Reserve notes, net of F.R. Bank holdings 1,736,735 + 3,867 + 85,485

Reverse repurchase agreements11 288,496 - 1,165 + 57,658

Deposits (0) 1,968,781 + 17,262 - 245,453

Term deposits held by depository institutions 0 0 0

Other deposits held by depository institutions 1,528,757 + 44,038 - 300,068

U.S. Treasury, General Account 378,184 - 22,432 + 62,027

Foreign official 5,183 - 4 - 74

Other12 (0) 56,657 - 4,341 - 7,338

Deferred availability cash items (0) 198 - 958 - 69

Other liabilities and accrued dividends13 5,916 + 634 - 316

Total liabilities (0) 4,000,126 + 19,640 - 102,696

Capital accounts

Capital paid in 32,493 - 19 + 204

Surplus 6,825 0 0

Other capital accounts 0 0 0

Total capital 39,318 - 19 + 204

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, November 6, 2019

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 1,674 42 45 151 106 213 176 278 35 44 110 187 286

Securities, unamortized premiums and

discounts, repurchase agreements,

and loans 3,971,447 82,393 2,166,693 96,174 116,194 243,037 271,543 208,466 57,080 34,381 58,890 172,444 464,152

Securities held outright1 3,642,441 75,567 1,987,209 88,208 106,569 222,904 249,045 191,197 52,351 31,519 54,011 158,159 425,702

U.S. Treasury securities 2,194,318 45,524 1,197,156 53,139 64,200 134,284 150,032 115,183 31,538 18,988 32,538 95,280 256,456

Bills2 66,010 1,369 36,013 1,599 1,931 4,040 4,513 3,465 949 571 979 2,866 7,715

Notes and bonds3 2,128,308 44,154 1,161,143 51,540 62,269 130,245 145,519 111,718 30,589 18,417 31,559 92,414 248,741

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

Mortgage-backed securities4 1,445,776 29,994 788,773 35,012 42,300 88,476 98,852 75,891 20,780 12,511 21,439 62,777 168,972

Unamortized premiums on securities 

held outright5 126,604 2,627 69,072 3,066 3,704 7,748 8,656 6,646 1,820 1,096 1,877 5,497 14,797

Unamortized discounts on securities 

held outright5 -12,781 -265 -6,973 -310 -374 -782 -874 -671 -184 -111 -190 -555 -1,494

Repurchase agreements6 215,160 4,464 117,385 5,210 6,295 13,167 14,711 11,294 3,092 1,862 3,190 9,343 25,146

Loans 22 1 0 0 0 0 4 0 0 16 0 0 1

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 2,186 107 455 84 116 191 204 193 102 94 228 224 189

Central bank liquidity swaps8 46 2 14 3 4 10 3 2 1 0 0 1 7

Foreign currency denominated

assets9 20,607 887 6,540 1,191 1,645 4,394 1,198 860 314 98 200 255 3,025

Other assets10 27,171 581 14,393 652 809 1,881 1,844 1,397 482 302 487 1,202 3,140

Interdistrict settlement account 0 + 2,203 - 144,015 - 14,378 + 11,704 - 2,207 + 32,920 + 15,808 + 8,784 + 3,926 + 6,217 + 26,880 + 52,157

Total assets 4,039,443 86,762 2,049,651 84,415 131,345 248,685 310,176 228,140 67,275 39,122 66,577 202,365 524,931

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, November 6, 2019 (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 1,945,741 59,497 641,570 56,281 93,037 132,889 272,969 125,763 58,366 31,100 52,582 162,646 259,042

Less: Notes held by F.R. Banks 209,006 6,258 53,778 8,906 9,331 15,843 30,631 13,474 5,862 3,409 7,724 20,516 33,276

Federal Reserve notes, net 1,736,735 53,239 587,792 47,375 83,706 117,046 242,338 112,289 52,504 27,691 44,858 142,131 225,766

Reverse repurchase agreements11 288,496 5,985 157,395 6,986 8,441 17,655 19,725 15,144 4,146 2,496 4,278 12,527 33,717

Deposits 1,968,781 25,547 1,288,707 28,303 35,706 105,186 45,262 98,833 9,833 8,371 16,873 46,961 259,199

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 1,528,757 25,535 886,080 28,301 35,675 104,580 45,217 62,308 9,830 8,318 16,844 46,877 259,192

U.S. Treasury, General Account 378,184 0 378,184 0 0 0 0 0 0 0 0 0 0

Foreign official 5,183 2 5,156 2 3 9 2 2 1 0 0 0 6

Other12 56,657 11 19,287 0 27 597 43 36,524 3 53 29 83 1

Deferred availability cash items 198 0 0 0 0 0 74 0 0 123 0 0 0

Earnings remittances due to the U.S.

Treasury13 1,212 22 689 30 31 62 99 61 21 9 17 52 119

Other liabilities and accrued

dividends 4,703 180 1,849 183 208 563 313 306 149 151 155 235 410

Total liabilities 4,000,126 84,974 2,036,432 82,878 128,092 240,513 307,811 226,632 66,654 38,841 66,181 201,905 519,211

Capital

Capital paid in 32,493 1,494 11,053 1,142 2,708 6,716 1,968 1,223 517 248 330 375 4,717

Surplus 6,825 294 2,166 394 545 1,455 397 285 104 32 66 84 1,002

Other capital 0 0 0 0 0 0 0 0 0 0 0 0 0

Total liabilities and capital 4,039,443 86,762 2,049,651 84,415 131,345 248,685 310,176 228,140 67,275 39,122 66,577 202,365 524,931

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, November 6, 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).
H.4.1

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

Millions of dollars

Wednesday Federal Reserve notes and collateral Nov 6, 2019

Federal Reserve notes outstanding 1,945,741

Less: Notes held by F.R. Banks not subject to collateralization 209,006

Federal Reserve notes to be collateralized 1,736,735

Collateral held against Federal Reserve notes 1,736,735

Gold certificate account 11,037

Special drawing rights certificate account 5,200

U.S. Treasury, agency debt, and mortgage-backed securities pledged1,2 1,720,499

Other assets pledged 0

Memo:

Total U.S. Treasury, agency debt, and mortgage-backed securities1,2 3,857,601

Less: Face value of securities under reverse repurchase agreements 270,687

U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 3,586,915

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.