FEDERAL RESERVE statistical release

H.4.1

Factors Affecting Reserve Balances of Depository Institutions and     
Condition Statement of Federal Reserve Banks                                                     May 30, 2019


1. Factors Affecting Reserve Balances of Depository Institutions
Millions of dollars
Reserve Bank credit, related items, and                          Averages of daily figures         Wednesday  
reserve balances of depository institutions at             Week ended    Change from week ended  May 29, 2019 
Federal Reserve Banks                                     May 29, 2019 May 22, 2019 May 30, 2018              

Reserve Bank credit                                         3,819,964   -    4,521   -  468,793    3,812,240  
  Securities held outright (1)                              3,678,891   -    5,343   -  448,539    3,672,496  
    U.S. Treasury securities                                2,114,690   +      186   -  272,392    2,114,744  
      Bills (2)                                                    50            0   +       50           50  
      Notes and bonds, nominal (2)                          1,976,565            0   -  276,877    1,976,565  
      Notes and bonds, inflation-indexed (2)                  115,361            0   +    2,412      115,361  
      Inflation compensation (3)                               22,714   +      186   +    2,023       22,767  
    Federal agency debt securities (2)                          2,347            0   -    2,044        2,347  
    Mortgage-backed securities (4)                          1,561,854   -    5,529   -  174,104    1,555,405  
  Unamortized premiums on securities held outright (5)        132,804   -      433   -   18,606      132,550  
  Unamortized discounts on securities held outright (5)       -13,014   +       32   +      891      -13,004  
  Repurchase agreements (6)                                         0            0            0            0  
  Loans                                                            63   +       11   -       37           53  
    Primary credit                                                 20   +       12   +        1           11  
    Secondary credit                                                0            0            0            0  
    Seasonal credit                                                43   -        1   -       39           43  
    Other credit extensions                                         0            0            0            0  
  Net portfolio holdings of Maiden Lane LLC (7)                     0            0   -    1,713            0  
  Float                                                          -220   -       78   +       89         -526  
  Central bank liquidity swaps (8)                                 17            0   -       46           17  
  Other Federal Reserve assets (9)                             21,422   +    1,291   -      831       20,653  
Foreign currency denominated assets (10)                       20,697   +       69   -      565       20,660  
Gold stock                                                     11,041            0            0       11,041  
Special drawing rights certificate account                      5,200            0            0        5,200  
Treasury currency outstanding (11)                             49,977   +       14   +      400       49,977  
                                                                                                              
Total factors supplying reserve funds                       3,906,880   -    4,437   -  468,957    3,899,119  

Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table.





1. Factors Affecting Reserve Balances of Depository Institutions (continued)
Millions of dollars
Reserve Bank credit, related items, and                          Averages of daily figures         Wednesday  
reserve balances of depository institutions at             Week ended    Change from week ended  May 29, 2019 
Federal Reserve Banks                                     May 29, 2019 May 22, 2019 May 30, 2018              

Currency in circulation (11)                                 1,737,649   +    5,448   +   78,174    1,739,666 
Reverse repurchase agreements (12)                             267,400   -    1,208   +   23,161      265,417 
  Foreign official and international accounts                  262,757   +      804   +   20,161      263,191 
  Others                                                         4,643   -    2,012   +    3,000        2,226 
Treasury cash holdings                                             270   -       29   +       17          247 
Deposits with F.R. Banks, other than reserve balances          311,492   -   34,758   -   95,503      314,412 
  Term deposits held by depository institutions                      0            0            0            0 
  U.S. Treasury, General Account                               247,777   -   35,087   -   77,574      249,011 
  Foreign official                                               5,245            0   -       10        5,245 
  Other (13)                                                    58,470   +      329   -   17,920       60,157 
Other liabilities and capital (14)                              45,359   -      443   +      166       44,585 
                                                                                                              
Total factors, other than reserve balances,               
    absorbing reserve funds                                  2,362,169   -   30,991   +    6,013    2,364,326 
                                                                                                              
Reserve balances with Federal Reserve Banks                  1,544,711   +   26,554   -  474,970    1,534,792 

Note: Components may not sum to totals because of rounding.


1.  Includes securities lent to dealers under the overnight securities lending facility; refer to table     
    1A.                                                                                                 
2.  Face value of the securities.                                                                           
3.  Compensation that adjusts for the effect of inflation on the original face value of                     
    inflation-indexed securities.                                                                       
4.  Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. The current face value shown is the              
    remaining principal balance of the securities.                                                      
5.  Reflects the premium or discount, which is the difference between the purchase price and the face       
    value of the securities that has not been amortized. For U.S. Treasury securities, Federal agency debt
    securities, and mortgage-backed securities, amortization is on an effective-interest basis.         
6.  Cash value of agreements.                                                                               
7.  Refer to the note on consolidation accompanying table 5.                                                
8.  Dollar value of foreign currency held under these agreements valued at the exchange rate to be used     
    when the foreign currency is returned to the foreign central bank. This exchange rate equals the    
    market exchange rate used when the foreign currency was acquired from the foreign central bank.     
9.  Includes accrued interest, which represents the daily accumulation of interest earned, and other        
    accounts receivable. Also, includes Reserve Bank premises and equipment net of allowances for       
    depreciation.                                                                                       
10. Revalued daily at current foreign currency exchange rates.                                              
11. Estimated.                                                                                              
12. Cash value of agreements, which are collateralized by U.S. Treasury securities, federal agency debt     
    securities, and mortgage-backed securities.                                                         
13. Includes deposits held at the Reserve Banks by international and multilateral organizations,            
    government-sponsored enterprises, designated financial market utilities, and deposits held by depository
    institutions in joint accounts in connection with their participation in certain private-sector payment
    arrangements. Also includes certain deposit accounts other than the U.S. Treasury, General Account, 
    for services provided by the Reserve Banks as fiscal agents of the United States.                   
14. Includes the liability for earnings remittances due to the U.S. Treasury.                               
                                                                                                            



Sources: Federal Reserve Banks and the U.S. Department of the Treasury.





1A. Memorandum Items
Millions of dollars
Memorandum item                                                  Averages of daily figures         Wednesday  
                                                           Week ended    Change from week ended  May 29, 2019 
                                                          May 29, 2019 May 22, 2019 May 30, 2018              

Securities held in custody for foreign official and       
     international accounts                                  3,463,337   -    5,523   +   68,905    3,459,376 
  Marketable U.S. Treasury securities (1)                    3,055,822   -    4,267   +   23,386    3,050,952 
  Federal agency debt and mortgage-backed securities (2)       331,676   -    1,996   +   45,078      332,458 
  Other securities (3)                                          75,839   +      740   +      441       75,966 
Securities lent to dealers                                      21,457   +      527   +      347       24,585 
  Overnight facility (4)                                        21,457   +      527   +      347       24,585 
    U.S. Treasury securities                                    21,457   +      527   +      347       24,585 
    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, May 29, 2019        

Millions of dollars
Remaining Maturity                     Within 15     16 days to    91 days to   Over 1 year   Over 5 year     Over 10         All      
                                          days        90 days        1 year      to 5 years   to 10 years      years                   

Loans                                           51             2             0             0             0           ...            53 
U.S. Treasury securities (1)                                                                                                           
  Holdings                                  20,062        97,821       251,025       867,409       266,461       611,966     2,114,744 
  Weekly changes                        +        5    -        5    +        1    +       25    +       81    +       67    +      175 
Federal agency debt securities (2)                                                                                                     
  Holdings                                       0             0             0             0           486         1,861         2,347 
  Weekly changes                                 0             0             0             0             0             0             0 
Mortgage-backed securities (3)                                                                                                         
  Holdings                                       0             0             8           294        72,273     1,482,829     1,555,405 
  Weekly changes                                 0             0    -        2    -        9    -    1,024    -    7,989    -    9,023 
Repurchase agreements (4)                        0             0           ...           ...           ...           ...             0 
Central bank liquidity swaps (5)                17             0             0             0             0             0            17 
                                                                                                                                       
Reverse repurchase agreements (4)          265,417             0           ...           ...           ...           ...       265,417 
Term deposits                                    0             0             0           ...           ...           ...             0 

Note: Components may not sum to totals because of rounding.
...Not applicable.


1.  Face value. For inflation-indexed securities, includes the original face value and compensation         
    that adjusts for the effect of inflation on the original face value of such securities.             
2.  Face value.                                                                                             
3.  Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. The current face value shown is the              
    remaining principal balance of the securities.                                                      
4.  Cash value of agreements.                                                                               
5.  Dollar value of foreign currency held under these agreements valued at the exchange rate to be used     
    when the foreign currency is returned to the foreign central bank. This exchange rate equals the    
    market exchange rate used when the foreign currency was acquired from the foreign central bank.     
                                                                                                            






3. Supplemental Information on Mortgage-Backed Securities
Millions of dollars
Account name                                                                                                            Wednesday   
                                                                                                                      May 29, 2019  

Mortgage-backed securities held outright (1)                                                                             1,555,405  
                                                                                                                                    
Commitments to buy mortgage-backed securities (2)                                                                              252  
Commitments to sell mortgage-backed securities (2)                                                                               0  
                                                                                                                                    
Cash and cash equivalents (3)                                                                                                    2  



1.  Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. The current face value shown is the              
    remaining principal balance of the securities.                                                      
2.  Current face value. Generally settle within 180 days and include commitments associated with            
    outright transactions, dollar rolls, and coupon swaps.                                              
3.  This amount is included in other Federal Reserve assets in table 1 and in other assets in table 4       
    and table 5.                                                                                        







4. Consolidated Statement of Condition of All Federal Reserve Banks
Millions of dollars
Assets, liabilities, and capital                         Eliminations     Wednesday         Change since       
                                                             from       May 29, 2019   Wednesday    Wednesday  
                                                        consolidation                May 22, 2019 May 30, 2018 

Assets                                                                                                         
  Gold certificate account                                                   11,037            0            0  
  Special drawing rights certificate account                                  5,200            0            0  
  Coin                                                                        1,649   -       12   -      126  
  Securities, unamortized premiums and discounts,     
     repurchase agreements, and loans                                     3,792,095   -    9,299   -  471,503  
    Securities held outright (1)                                          3,672,496   -    8,848   -  453,585  
      U.S. Treasury securities                                            2,114,744   +      175   -  272,359  
        Bills (2)                                                                50            0   +       50  
        Notes and bonds, nominal (2)                                      1,976,565            0   -  276,877  
        Notes and bonds, inflation-indexed (2)                              115,361            0   +    2,412  
        Inflation compensation (3)                                           22,767   +      175   +    2,056  
      Federal agency debt securities (2)                                      2,347            0   -    2,044  
      Mortgage-backed securities (4)                                      1,555,405   -    9,023   -  179,183  
    Unamortized premiums on securities held outright  
    (5)                                                                     132,550   -      484   -   18,739  
    Unamortized discounts on securities held outright 
    (5)                                                                     -13,004   +       30   +      892  
    Repurchase agreements (6)                                                     0            0            0  
    Loans                                                                        53   +        3   -       70  
  Net portfolio holdings of Maiden Lane LLC (7)                                   0            0   -    1,712  
  Items in process of collection                                   (0)          132   +       22   +       45  
  Bank premises                                                               2,195   -        2   +        2  
  Central bank liquidity swaps (8)                                               17            0   -       46  
  Foreign currency denominated assets (9)                                    20,660   +       60   -      620  
  Other assets (10)                                                          18,458   +      240   -    2,116  
                                                                                                               
Total assets                                                       (0)    3,851,444   -    8,991   -  476,075  

Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table.





4. Consolidated Statement of Condition of All Federal Reserve Banks (continued)
Millions of dollars
Assets, liabilities, and capital                         Eliminations     Wednesday         Change since       
                                                             from       May 29, 2019   Wednesday    Wednesday  
                                                        consolidation                May 22, 2019 May 30, 2018 

Liabilities                                                                                                    
  Federal Reserve notes, net of F.R. Bank holdings                         1,691,580   +    4,686   +   77,901 
  Reverse repurchase agreements (11)                                         265,417   -    3,821   +   19,863 
  Deposits                                                          (0)    1,849,205   -    9,369   -  573,048 
    Term deposits held by depository institutions                                  0            0            0 
    Other deposits held by depository institutions                         1,534,792   +    1,959   -  471,095 
    U.S. Treasury, General Account                                           249,011   -   15,570   -   83,701 
    Foreign official                                                           5,245            0   -       10 
    Other (12)                                                      (0)       60,157   +    4,241   -   18,241 
  Deferred availability cash items                                  (0)          658   +      379   -      442 
  Other liabilities and accrued dividends (13)                                 5,398   -      651   -       74 
                                                                                                               
Total liabilities                                                   (0)    3,812,257   -    8,778   -  475,800 
                                                                                                               
Capital accounts                                                                                               
  Capital paid in                                                             32,362   -      213   +      400 
  Surplus                                                                      6,825            0   -      675 
  Other capital accounts                                                           0            0            0 
                                                                                                               
Total capital                                                                 39,187   -      213   -      275 

Note: Components may not sum to totals because of rounding.


1.  Includes securities lent to dealers under the overnight securities lending facility; refer to table     
    1A.                                                                                                 
2.  Face value of the securities.                                                                           
3.  Compensation that adjusts for the effect of inflation on the original face value of                     
    inflation-indexed securities.                                                                       
4.  Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. The current face value shown is the              
    remaining principal balance of the securities.                                                      
5.  Reflects the premium or discount, which is the difference between the purchase price and the face       
    value of the securities that has not been amortized. For U.S. Treasury securities, Federal agency debt
    securities, and mortgage-backed securities, amortization is on an effective-interest basis.         
6.  Cash value of agreements, which are collateralized by U.S. Treasury and federal agency securities.      
7.  Refer to the note on consolidation accompanying table 5.                                                
8.  Dollar value of foreign currency held under these agreements valued at the exchange rate to be used     
    when the foreign currency is returned to the foreign central bank. This exchange rate equals the    
    market exchange rate used when the foreign currency was acquired from the foreign central bank.     
9.  Revalued daily at current foreign currency exchange rates.                                              
10. Includes accrued interest, which represents the daily accumulation of interest earned, and other        
    accounts receivable.                                                                                
11. Cash value of agreements, which are collateralized by U.S. Treasury securities, federal agency debt     
    securities, and mortgage-backed securities.                                                         
12. Includes deposits held at the Reserve Banks by international and multilateral organizations,            
    government-sponsored enterprises, designated financial market utilities, and deposits held by depository
    institutions in joint accounts in connection with their participation in certain private-sector payment
    arrangements. Also includes certain deposit accounts other than the U.S. Treasury, General Account, 
    for services provided by the Reserve Banks as fiscal agents of the United States.                   
13. Includes the liability for earnings remittances due to the U.S. Treasury.                               

 



5. Statement of Condition of Each Federal Reserve Bank, May 29, 2019
Millions of dollars
Assets, liabilities, and capital               Total       Boston     New York  Philadelphia  Cleveland    Richmond    Atlanta     Chicago    St. Louis  Minneapolis    Kansas      Dallas       San     
                                                                                                                                                                         City                 Francisco  

Assets                                                                                                                                                                                                   
  Gold certificate account                        11,037         351       3,707          327         531         754       1,560         711         328         186         292         890       1,400
  Special drawing rights certificate acct.         5,200         196       1,818          210         237         412         654         424         150          90         153         282         574
  Coin                                             1,649          41          36          145         107         211         176         284          26          48         106         181         287
  Securities, unamortized premiums and      
     discounts, repurchase agreements,      
     and loans                                 3,792,095      78,670   2,068,827       91,830     110,946     232,059     259,275     199,058      54,502      32,844      56,233     164,656     443,195
    Securities held outright (1)               3,672,496      76,190   2,003,606       88,935     107,448     224,744     251,100     192,774      52,783      31,779      54,457     159,464     429,215
      U.S. Treasury securities                 2,114,744      43,873   1,153,742       51,212      61,872     129,415     144,591     111,006      30,394      18,299      31,358      91,825     247,156
        Bills (2)                                     50           1          27            1           1           3           3           3           1           0           1           2           6
        Notes and bonds (3)                    2,114,694      43,872   1,153,715       51,211      61,871     129,412     144,588     111,003      30,394      18,299      31,357      91,823     247,150
      Federal agency debt securities (2)           2,347          49       1,280           57          69         144         160         123          34          20          35         102         274
      Mortgage-backed securities (4)           1,555,405      32,269     848,584       37,667      45,507      95,185     106,348      81,645      22,355      13,459      23,064      67,538     181,784
    Unamortized premiums on securities held 
      outright (5)                               132,550       2,750      72,315        3,210       3,878       8,112       9,063       6,958       1,905       1,147       1,966       5,755      15,491
    Unamortized discounts on securities     
      held outright (5)                          -13,004        -270      -7,095         -315        -380        -796        -889        -683        -187        -113        -193        -565      -1,520
    Repurchase agreements (6)                          0           0           0            0           0           0           0           0           0           0           0           0           0
    Loans                                             53           0           0            0           0           0           1           8           0          31           3           1           9
  Net portfolio holdings of Maiden                                                                                                                                                                       
     Lane LLC (7)                                      0           0           0            0           0           0           0           0           0           0           0           0           0
  Items in process of collection                     132           0           0            0           0           0         131           0           0           0           0           0           0
  Bank premises                                    2,195         108         458           80         119         192         207         192         105          95         229         220         192
  Central bank liquidity swaps (8)                    17           1           5            1           1           4           1           1           0           0           0           0           2
  Foreign currency denominated                                                                                                                                                                           
     assets (9)                                   20,660         890       6,558        1,194       1,649       4,405       1,201         862         315          98         200         256       3,033
  Other assets (10)                               18,458         399       9,544          442         541       1,319       1,241         946         453         207         338         906       2,124
  Interdistrict settlement account                     0  -    1,991  -  129,337   -    7,904  +    2,900  +   17,120  +   21,280  +   17,427  +    5,799  +    3,217  +    3,360  +   17,988  +   50,141
                                                                                                                                                                                                         
Total assets                                   3,851,444      78,665   1,961,617       86,325     117,030     256,476     285,725     219,905      61,678      36,785      60,912     185,377     500,948

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, May 29, 2019 (continued)
Millions of dollars
Assets, liabilities, and capital               Total       Boston     New York  Philadelphia Cleveland    Richmond    Atlanta     Chicago    St. Louis  Minneapolis    Kansas      Dallas       San     
                                                                                                                                                                        City                 Francisco  

Liabilities                                                                                                                                                                                             
  Federal Reserve notes outstanding            1,884,805      57,705     621,512      54,480      89,794     129,574     259,025     122,858      56,034      31,240      50,423     158,238     253,923
    Less: Notes held by F.R. Banks               193,225       6,095      48,966       7,953       9,429      14,325      30,624      12,133       6,017       3,075       7,676      18,435      28,497
      Federal Reserve notes, net               1,691,580      51,610     572,545      46,527      80,365     115,249     228,402     110,725      50,017      28,165      42,747     139,803     225,426
  Reverse repurchase agreements (11)             265,417       5,506     144,804       6,427       7,765      16,243      18,147      13,932       3,815       2,297       3,936      11,525      31,020
  Deposits                                     1,849,205      19,581   1,228,893      31,629      25,446     116,194      36,345      93,343       7,091       5,465      13,668      33,296     238,254
    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                           1,534,792      19,572     954,431      31,626      25,416     115,848      36,310      54,162       7,085       5,413      13,501      33,182     238,247
    U.S. Treasury, General Account               249,011           0     249,011           0           0           0           0           0           0           0           0           0           0
    Foreign official                               5,245           2       5,218           2           3           9           2           2           1           0           0           0           6
    Other (12)                                    60,157           7      20,233           1          27         338          34      39,179           5          52         167         114           1
  Deferred availability cash items                   658           0           0           0           0           0         143           0           0         515           0           0           0
  Earnings remittances due to the U.S.      
     Treasury (13)                                 1,089          25         563          26          42          59         103          55          12          12          19          61         111
  Other liabilities and accrued             
     dividends                                     4,309         159       1,643         186         200         559         301         285         127         142         147         205         355
                                                                                                                                                                                                        
Total liabilities                              3,812,257      76,880   1,948,448      84,795     113,818     248,304     283,441     218,340      61,062      36,595      60,518     184,889     495,166
                                                                                                                                                                                                        
Capital                                                                                                                                                                                                 
  Capital paid in                                 32,362       1,491      11,003       1,136       2,667       6,717       1,887       1,280         512         157         328         403       4,780
  Surplus                                          6,825         294       2,166         394         545       1,455         397         285         104          32          66          84       1,002
  Other capital                                        0           0           0           0           0           0           0           0           0           0           0           0           0
                                                                                                                                                                                                        
Total liabilities and capital                  3,851,444      78,665   1,961,617      86,325     117,030     256,476     285,725     219,905      61,678      36,785      60,912     185,377     500,948

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, May 29, 2019 (continued)


1.  Includes securities lent to dealers under the overnight securities lending facility; refer to table 1A.                                                                                                 
2.  Face value of the securities.                                                                                                                                                                           
3.  Includes the original face value of inflation-indexed securities and compensation that adjusts for the effect of inflation on the original face value of such securities.                               
4.  Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. The current face value shown is the remaining principal balance of the securities.                                                               
5.  Reflects the premium or discount, which is the difference between the purchase price and the face value of the securities that has not been amortized. For U.S. Treasury securities, Federal agency     
    debt securities, and mortgage-backed securities, amortization is on an effective-interest basis.                                                                                                    
6.  Cash value of agreements, which are collateralized by U.S. Treasury and federal agency securities.                                                                                                      
7.  Refer to the note on consolidation below.                                                                                                                                                               
8.  Dollar value of foreign currency held under these agreements valued at the exchange rate to be used when the foreign currency is returned to the foreign central bank. This exchange rate equals        
    the market exchange rate used when the foreign currency was acquired from the foreign central bank.                                                                                                 
9.  Revalued daily at current foreign currency exchange rates.                                                                                                                                              
10. Includes accrued interest, which represents the daily accumulation of interest earned, and other accounts receivable.                                                                                   
11. Cash value of agreements, which are collateralized by U.S. Treasury securities, federal agency debt securities, and mortgage-backed securities.                                                         
12. Includes deposits held at the Reserve Banks by international and multilateral organizations, government-sponsored enterprises, designated financial market utilities, and deposits held by              
    depository institutions in joint accounts in connection with their participation in certain private-sector payment arrangements. Also includes certain deposit accounts other than the U.S. Treasury, General
    Account, for services provided by the Reserve Banks as fiscal agents of the United States.                                                                                                          
13. Represents the estimated weekly remittances due to U.S. Treasury. The amounts on this line represent the residual net earnings that the Federal Reserve Banks remit to the U.S. Treasury after          
    providing for the costs of operations, payment of dividends, and the amount necessary to maintain a $6.825 billion surplus.                                                                         
                                                                                                                                                                                                            


Note on consolidation:


On June 26, 2008, the Federal Reserve Bank of New York (FRBNY) extended a loan to Maiden Lane LLC (ML) under the authority of section 13(3) of the Federal Reserve Act. ML was formed to
acquire certain assets of Bear Stearns and to manage those assets through time to maximize repayment of the credit extended and minimize disruption to financial markets. On June 14, 2012, the
remaining outstanding balance of the senior loan from FRBNY to ML was repaid in full, with interest. On November 15, 2012, the remaining outstanding balance of the subordinated loan from JPMorgan
Chase & Co. to ML was repaid in full, with interest. FRBNY was the primary beneficiary of ML because it received any residual returns and could have absorbed any residual losses should they
have occurred. Consistent with generally accepted accounting principles, the assets and liabilities of ML were consolidated with the assets and liabilities of FRBNY in the preparation of the
statements of condition shown on this release. As a consequence of the consolidation, the extension of credit from FRBNY to ML was eliminated, the net assets of ML appeared as assets on the
previous page (and in table 1 and table 4), and the liabilities of ML to entities other than FRBNY, including those with recourse only to the ML portfolio holdings, were included in other
liabilities in this table (and table 1 and table 4).
                                                                                                                                        



6. Collateral Held against Federal Reserve Notes: Federal Reserve Agents' Accounts
Millions of dollars
Federal Reserve notes and collateral                                                        Wednesday   
                                                                                          May 29, 2019  

Federal Reserve notes outstanding                                                            1,884,805  
  Less: Notes held by F.R. Banks not subject to collateralization                              193,225  
    Federal Reserve notes to be collateralized                                               1,691,580  
Collateral held against Federal Reserve notes                                                1,691,580  
  Gold certificate account                                                                      11,037  
  Special drawing rights certificate account                                                     5,200  
  U.S. Treasury, agency debt, and mortgage-backed securities pledged (1,2)                   1,675,343  
  Other assets pledged                                                                               0  
Memo:                                                                                                   
Total U.S. Treasury, agency debt, and mortgage-backed securities (1,2)                       3,672,496  
  Less: Face value of securities under reverse repurchase agreements                           254,593  
    U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged        3,417,903  

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.