FEDERAL RESERVE statistical release

H.4.1

Factors Affecting Reserve Balances of Depository Institutions and

Condition Statement of Federal Reserve Banks April 25, 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

Apr 24, 2019 Apr 17, 2019 Apr 25, 2018

Wednesday

Apr 24, 2019

Reserve Bank credit 3,892,118 - 4,156 - 451,350 3,889,560

Securities held outright1 3,741,832 - 4,742 - 429,924 3,739,284

U.S. Treasury securities 2,153,494 + 38 - 259,673 2,153,544

Bills2 0 0 0 0

Notes and bonds, nominal2 2,016,474 - 90 - 265,521 2,016,474

Notes and bonds, inflation-indexed2 115,144 - 6 + 4,237 115,144

Inflation compensation3 21,877 + 135 + 1,612 21,926

Federal agency debt securities2 2,347 0 - 2,044 2,347

Mortgage-backed securities4 1,585,990 - 4,781 - 168,208 1,583,393

Unamortized premiums on securities held outright5 134,680 - 397 - 18,773 134,493

Unamortized discounts on securities held outright5 -13,009 + 37 + 953 -12,998

Repurchase agreements6 0 0 0 0

Loans 23 - 1 - 40 32

Primary credit 7 - 3 - 17 14

Secondary credit 0 0 0 0

Seasonal credit 16 + 3 - 23 18

Other credit extensions 0 0 0 0

Net portfolio holdings of Maiden Lane LLC7 0 0 - 1,711 0

Float -142 + 66 + 29 -212

Central bank liquidity swaps8 55 0 - 27 55

Other Federal Reserve assets9 28,679 + 880 - 1,856 28,906

Foreign currency denominated assets10 20,566 - 65 - 1,432 20,527

Gold stock 11,041 0 0 11,041

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

Treasury currency outstanding11 49,928 + 14 + 390 49,928

Total factors supplying reserve funds 3,978,852 - 4,208 - 452,392 3,976,256

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

Apr 24, 2019 Apr 17, 2019 Apr 25, 2018

Wednesday

Apr 24, 2019

Currency in circulation11 1,727,238 + 210 + 85,514 1,728,622

Reverse repurchase agreements12 259,016 + 7,157 + 12,882 270,400

Foreign official and international accounts 256,433 + 4,703 + 20,857 260,885

Others 2,583 + 2,454 - 7,975 9,515

Treasury cash holdings 332 0 + 35 332

Deposits with F.R. Banks, other than reserve balances 441,182 + 86,841 - 3,858 458,851

Term deposits held by depository institutions 0 0 0 0

U.S. Treasury, General Account 378,602 + 93,338 + 19,003 398,916

Foreign official 5,275 + 31 + 21 5,244

Other13 57,305 - 6,528 - 22,883 54,692

Other liabilities and capital14 45,654 + 634 + 195 45,239

Total factors, other than reserve balances,

absorbing reserve funds 2,473,422 + 94,842 + 94,768 2,503,444

Reserve balances with Federal Reserve Banks 1,505,430 - 99,049 - 547,160 1,472,812

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

Apr 24, 2019 Apr 17, 2019 Apr 25, 2018

Wednesday

Apr 24, 2019

Securities held in custody for foreign official and international

accounts 3,452,317 - 15,177 + 40,539 3,453,651

Marketable U.S. Treasury securities1 3,046,448 - 15,766 - 12,256 3,049,139

Federal agency debt and mortgage-backed securities2 333,883 + 51 + 59,689 332,526

Other securities3 71,986 + 537 - 6,894 71,985

Securities lent to dealers 27,062 + 5,118 + 10,134 25,797

Overnight facility4 27,062 + 5,118 + 10,134 25,797

U.S. Treasury securities 27,062 + 5,118 + 10,134 25,797

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, April 24, 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 32 0 0 0 0 ... 32

U.S. Treasury securities1

Holdings 31,746 82,182 263,735 908,702 262,007 605,171 2,153,544

Weekly changes 0 0 + 1 + 19 + 12,747 - 12,633 + 135

Federal agency debt securities2

Holdings 0 0 0 0 0 2,347 2,347

Weekly changes 0 0 0 0 0 0 0

Mortgage-backed securities3

Holdings 0 0 10 260 73,627 1,509,496 1,583,393

Weekly changes 0 0 0 0 0 - 4,545 - 4,545

Repurchase agreements4 0 0 ... ... ... ... 0

Central bank liquidity swaps5 55 0 0 0 0 0 55

Reverse repurchase agreements4 270,400 0 ... ... ... ... 270,400

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 Apr 24, 2019

Mortgage-backed securities held outright1 1,583,393

Commitments to buy mortgage-backed securities2 206

Commitments to sell mortgage-backed securities2 0

Cash and cash equivalents3 0

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

Apr 24, 2019 Apr 17, 2019 Apr 25, 2018

Assets

Gold certificate account 11,037 0 0

Special drawing rights certificate account 5,200 0 0

Coin 1,679 - 15 - 136

Securities, unamortized premiums and discounts,

repurchase agreements, and loans 3,860,811 - 4,781 - 440,975

Securities held outright1 3,739,284 - 4,410 - 423,292

U.S. Treasury securities 2,153,544 + 135 - 259,674

Bills2 0 0 0

Notes and bonds, nominal2 2,016,474 0 - 265,521

Notes and bonds, inflation-indexed2 115,144 0 + 4,237

Inflation compensation3 21,926 + 134 + 1,610

Federal agency debt securities2 2,347 0 - 2,044

Mortgage-backed securities4 1,583,393 - 4,545 - 161,574

Unamortized premiums on securities held outright5 134,493 - 420 - 18,580

Unamortized discounts on securities held outright5 -12,998 + 36 + 952

Repurchase agreements6 0 0 0

Loans 32 + 13 - 55

Net portfolio holdings of Maiden Lane LLC7 0 0 - 1,714

Items in process of collection (0) 58 - 7 - 15

Bank premises 2,204 + 1 + 3

Central bank liquidity swaps8 55 0 - 27

Foreign currency denominated assets9 20,527 - 99 - 1,292

Other assets10 26,702 + 1,346 - 457

Total assets (0) 3,928,273 - 3,554 - 444,613

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

Apr 24, 2019 Apr 17, 2019 Apr 25, 2018

Liabilities

Federal Reserve notes, net of F.R. Bank holdings 1,680,701 + 532 + 84,873

Reverse repurchase agreements11 270,400 + 14,718 + 31,986

Deposits (0) 1,931,663 - 19,460 - 562,058

Term deposits held by depository institutions 0 0 0

Other deposits held by depository institutions 1,472,812 - 51,485 - 538,136

U.S. Treasury, General Account 398,916 + 29,551 - 4,151

Foreign official 5,244 + 1 - 10

Other12 (0) 54,692 + 2,473 - 19,760

Deferred availability cash items (0) 270 - 46 + 61

Other liabilities and accrued dividends13 5,928 + 734 + 467

Total liabilities (0) 3,888,963 - 3,522 - 444,671

Capital accounts

Capital paid in 32,486 - 31 + 733

Surplus 6,825 0 - 675

Other capital accounts 0 0 0

Total capital 39,311 - 31 + 58

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, April 24, 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 1,679 44 39 148 111 217 171 292 26 49 110 186 285

Securities, unamortized premiums and

discounts, repurchase agreements,

and loans 3,860,811 80,096 2,106,328 93,495 112,957 236,266 263,973 202,672 55,490 33,412 57,263 167,640 451,220

Securities held outright1 3,739,284 77,576 2,040,044 90,553 109,402 228,831 255,666 196,280 53,743 32,357 55,448 162,364 437,020

U.S. Treasury securities 2,153,544 44,678 1,174,911 52,152 63,007 131,789 147,244 113,042 30,952 18,635 31,934 93,509 251,691

Bills2 0 0 0 0 0 0 0 0 0 0 0 0 0

Notes and bonds3 2,153,544 44,678 1,174,911 52,152 63,007 131,789 147,244 113,042 30,952 18,635 31,934 93,509 251,691

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

Mortgage-backed securities4 1,583,393 32,849 863,853 38,344 46,326 96,898 108,261 83,114 22,758 13,701 23,479 68,753 185,056

Unamortized premiums on securities 

held outright5 134,493 2,790 73,375 3,257 3,935 8,230 9,196 7,060 1,933 1,164 1,994 5,840 15,719

Unamortized discounts on securities 

held outright5 -12,998 -270 -7,091 -315 -380 -795 -889 -682 -187 -112 -193 -564 -1,519

Repurchase agreements6 0 0 0 0 0 0 0 0 0 0 0 0 0

Loans 32 0 0 0 0 0 0 14 0 4 14 0 0

Net portfolio holdings of Maiden

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

Items in process of collection 58 0 0 0 0 0 58 0 0 0 0 0 0

Bank premises 2,204 109 459 81 119 194 208 192 105 95 230 221 192

Central bank liquidity swaps8 55 2 17 3 4 12 3 2 1 0 1 1 8

Foreign currency denominated

assets9 20,527 884 6,515 1,186 1,638 4,376 1,194 857 313 98 199 254 3,013

Other assets10 26,702 583 14,071 644 791 1,856 1,814 1,376 454 283 469 1,264 3,097

Interdistrict settlement account 0 + 2,760 - 72,029 + 1,175 + 3,404 - 5,814 + 18,119 - 3,032 + 4,415 + 2,831 + 2,365 + 18,807 + 26,999

Total assets 3,928,273 85,026 2,060,926 97,268 119,793 238,273 287,754 203,494 61,282 37,044 61,081 189,544 486,788

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, April 24, 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 1,875,204 57,524 619,383 54,428 89,580 126,742 259,484 120,803 55,674 31,361 49,868 157,261 253,095

Less: Notes held by F.R. Banks 194,503 6,176 48,653 8,023 9,594 14,814 30,946 13,188 5,593 3,151 7,316 18,349 28,701

Federal Reserve notes, net 1,680,701 51,348 570,730 46,406 79,986 111,928 228,539 107,615 50,081 28,210 42,552 138,913 224,394

Reverse repurchase agreements11 270,400 5,610 147,522 6,548 7,911 16,548 18,488 14,194 3,886 2,340 4,010 11,741 31,602

Deposits 1,931,663 26,171 1,327,603 41,826 28,526 100,839 38,008 79,681 6,548 5,929 13,964 38,118 224,451

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 1,472,812 26,159 905,017 41,823 28,494 100,384 37,972 44,504 6,540 5,877 13,943 37,656 224,444

U.S. Treasury, General Account 398,916 0 398,916 0 0 0 0 0 0 0 0 0 0

Foreign official 5,244 2 5,217 2 3 9 2 2 1 0 0 0 6

Other12 54,692 10 18,453 1 29 447 34 35,176 8 51 20 462 1

Deferred availability cash items 270 0 0 0 0 0 53 0 0 217 0 0 0

Earnings remittances due to the U.S.

Treasury13 1,030 19 578 17 29 33 102 52 20 11 17 61 92

Other liabilities and accrued

dividends 4,898 190 2,004 208 208 544 311 312 131 148 147 224 469

Total liabilities 3,888,963 83,338 2,048,438 95,005 116,660 229,892 285,502 201,854 60,666 36,854 60,689 189,057 481,007

Capital

Capital paid in 32,486 1,394 10,323 1,869 2,587 6,926 1,855 1,355 512 157 326 403 4,779

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 3,928,273 85,026 2,060,926 97,268 119,793 238,273 287,754 203,494 61,282 37,044 61,081 189,544 486,788

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, April 24, 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 Apr 24, 2019

Federal Reserve notes outstanding 1,875,204

Less: Notes held by F.R. Banks not subject to collateralization 194,503

Federal Reserve notes to be collateralized 1,680,701

Collateral held against Federal Reserve notes 1,680,701

Gold certificate account 11,037

Special drawing rights certificate account 5,200

U.S. Treasury, agency debt, and mortgage-backed securities pledged1,2 1,664,464

Other assets pledged 0

Memo:

Total U.S. Treasury, agency debt, and mortgage-backed securities1,2 3,739,284

Less: Face value of securities under reverse repurchase agreements 267,162

U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 3,472,122

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.