FEDERAL RESERVE statistical release

H.4.1

Factors Affecting Reserve Balances of Depository Institutions and

Condition Statement of Federal Reserve Banks October 17, 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

Oct 16, 2019 Oct 9, 2019 Oct 17, 2018

Wednesday

Oct 16, 2019

Reserve Bank credit 3,909,671 + 346 - 229,547 3,927,709

Securities held outright1 3,593,000 + 3,500 - 386,407 3,588,569

U.S. Treasury securities 2,121,713 + 1,824 - 172,525 2,123,085

Bills2 6,002 0 + 5,902 6,002

Notes and bonds, nominal2 1,970,194 + 572 - 186,401 1,971,567

Notes and bonds, inflation-indexed2 120,993 + 1,143 + 5,414 120,993

Inflation compensation3 24,523 + 108 + 2,559 24,523

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

Mortgage-backed securities4 1,468,940 + 1,676 - 213,820 1,463,137

Unamortized premiums on securities held outright5 127,845 - 45 - 16,467 127,617

Unamortized discounts on securities held outright5 -12,538 + 49 + 1,075 -12,526

Repurchase agreements6 174,364 - 4,957 + 174,364 197,700

Loans 65 - 12 - 127 60

Primary credit 2 0 - 6 0

Secondary credit 0 0 0 0

Seasonal credit 63 - 11 - 121 60

Other credit extensions 0 0 0 0

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

Float -117 - 5 + 113 -140

Central bank liquidity swaps8 43 + 4 - 46 43

Other Federal Reserve assets9 27,008 + 1,811 - 2,046 26,385

Foreign currency denominated assets10 20,601 - 50 - 328 20,622

Gold stock 11,041 0 0 11,041

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

Treasury currency outstanding11 50,053 + 14 + 347 50,053

Total factors supplying reserve funds 3,996,566 + 311 - 229,528 4,014,624

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

Oct 16, 2019 Oct 9, 2019 Oct 17, 2018

Wednesday

Oct 16, 2019

Currency in circulation11 1,770,807 + 4,474 + 79,670 1,772,562

Reverse repurchase agreements12 299,603 + 9,267 + 80,349 302,797

Foreign official and international accounts 297,256 + 11,259 + 78,845 300,994

Others 2,347 - 1,991 + 1,504 1,803

Treasury cash holdings 198 + 8 - 29 201

Deposits with F.R. Banks, other than reserve balances 400,110 + 12,642 - 16,812 424,684

Term deposits held by depository institutions 0 0 0 0

U.S. Treasury, General Account 324,604 + 6,413 - 8,319 361,497

Foreign official 5,186 0 - 70 5,186

Other13 70,320 + 6,229 - 8,423 58,001

Other liabilities and capital14 45,481 + 8 + 461 44,509

Total factors, other than reserve balances,

absorbing reserve funds 2,516,198 + 26,397 + 143,637 2,544,753

Reserve balances with Federal Reserve Banks 1,480,368 - 26,087 - 373,165 1,469,871

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

Oct 16, 2019 Oct 9, 2019 Oct 17, 2018

Wednesday

Oct 16, 2019

Securities held in custody for foreign official and international

accounts 3,411,915 - 6,864 - 21,462 3,418,164

Marketable U.S. Treasury securities1 2,964,905 - 12,078 - 93,910 2,971,849

Federal agency debt and mortgage-backed securities2 365,380 + 5,795 + 57,804 364,681

Other securities3 81,631 - 580 + 14,645 81,634

Securities lent to dealers 25,935 - 1,792 + 8,957 25,081

Overnight facility4 25,935 - 1,792 + 8,957 25,081

U.S. Treasury securities 25,935 - 1,792 + 8,957 25,081

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, October 16, 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 27 34 0 0 0 ... 60

U.S. Treasury securities1

Holdings 15,683 63,032 267,651 849,095 302,407 625,217 2,123,085

Weekly changes + 15,655 - 14,529 + 475 0 - 1 0 + 1,600

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 9 799 78,594 1,383,735 1,463,137

Weekly changes 0 0 0 - 7 - 550 - 3,579 - 4,136

Repurchase agreements4 197,700 0 ... ... ... ... 197,700

Central bank liquidity swaps5 43 0 0 0 0 0 43

Reverse repurchase agreements4 302,797 0 ... ... ... ... 302,797

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 Oct 16, 2019

Mortgage-backed securities held outright1 1,463,137

Commitments to buy mortgage-backed securities2 5,533

Commitments to sell mortgage-backed securities2 0

Cash and cash equivalents3 8

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

Oct 16, 2019 Oct 9, 2019 Oct 17, 2018

Assets

Gold certificate account 11,037 0 0

Special drawing rights certificate account 5,200 0 0

Coin 1,684 - 16 - 63

Securities, unamortized premiums and discounts,

repurchase agreements, and loans 3,901,420 + 16,133 - 206,087

Securities held outright1 3,588,569 - 2,536 - 388,194

U.S. Treasury securities 2,123,085 + 1,600 - 171,160

Bills2 6,002 0 + 5,902

Notes and bonds, nominal2 1,971,567 + 1,601 - 185,028

Notes and bonds, inflation-indexed2 120,993 0 + 5,414

Inflation compensation3 24,523 - 1 + 2,552

Federal agency debt securities2 2,347 0 - 62

Mortgage-backed securities4 1,463,137 - 4,136 - 216,972

Unamortized premiums on securities held outright5 127,617 - 396 - 16,520

Unamortized discounts on securities held outright5 -12,526 + 27 + 1,076

Repurchase agreements6 197,700 + 19,050 + 197,700

Loans 60 - 12 - 149

Net portfolio holdings of Maiden Lane LLC7 0 0 - 7

Items in process of collection (0) 80 + 28 - 66

Bank premises 2,186 0 0

Central bank liquidity swaps8 43 + 4 - 46

Foreign currency denominated assets9 20,622 + 3 - 267

Other assets10 24,199 + 363 - 2,439

Total assets (0) 3,966,471 + 16,516 - 208,975

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

Oct 16, 2019 Oct 9, 2019 Oct 17, 2018

Liabilities

Federal Reserve notes, net of F.R. Bank holdings 1,724,390 + 3,400 + 80,739

Reverse repurchase agreements11 302,797 + 11,688 + 82,420

Deposits (0) 1,894,555 + 2,214 - 372,162

Term deposits held by depository institutions 0 0 0

Other deposits held by depository institutions 1,469,871 - 58,523 - 361,747

U.S. Treasury, General Account 361,497 + 64,108 + 859

Foreign official 5,186 + 1 - 70

Other12 (0) 58,001 - 3,372 - 11,203

Deferred availability cash items (0) 220 + 78 - 99

Other liabilities and accrued dividends13 5,186 - 864 - 60

Total liabilities (0) 3,927,147 + 16,514 - 209,162

Capital accounts

Capital paid in 32,499 + 2 + 187

Surplus 6,825 0 0

Other capital accounts 0 0 0

Total capital 39,324 + 2 + 187

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, October 16, 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 1,684 43 51 150 105 214 179 279 32 44 108 191 285

Securities, unamortized premiums and

discounts, repurchase agreements,

and loans 3,901,420 80,938 2,128,468 94,478 114,144 238,749 266,757 204,790 56,091 33,790 57,851 169,402 455,963

Securities held outright1 3,588,569 74,449 1,957,818 86,903 104,992 219,608 245,361 188,369 51,577 31,053 53,213 155,820 419,406

U.S. Treasury securities 2,123,085 44,046 1,158,293 51,414 62,116 129,925 145,162 111,444 30,514 18,372 31,482 92,187 248,131

Bills2 6,002 125 3,275 145 176 367 410 315 86 52 89 261 701

Notes and bonds3 2,117,083 43,921 1,155,018 51,269 61,940 129,558 144,751 111,129 30,428 18,320 31,393 91,926 247,429

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

Mortgage-backed securities4 1,463,137 30,354 798,245 35,432 42,808 89,539 100,039 76,802 21,029 12,661 21,696 63,531 171,001

Unamortized premiums on securities 

held outright5 127,617 2,648 69,624 3,090 3,734 7,810 8,726 6,699 1,834 1,104 1,892 5,541 14,915

Unamortized discounts on securities 

held outright5 -12,526 -260 -6,834 -303 -366 -767 -856 -658 -180 -108 -186 -544 -1,464

Repurchase agreements6 197,700 4,102 107,859 4,788 5,784 12,099 13,517 10,378 2,841 1,711 2,932 8,584 23,106

Loans 60 0 0 0 0 0 9 2 19 31 0 0 0

Net portfolio holdings of Maiden

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

Items in process of collection 80 0 0 0 0 0 79 0 0 1 0 0 0

Bank premises 2,186 107 455 83 116 191 204 192 102 94 228 223 190

Central bank liquidity swaps8 43 2 14 2 3 9 3 2 1 0 0 1 6

Foreign currency denominated

assets9 20,622 888 6,545 1,191 1,646 4,397 1,199 861 314 98 200 255 3,027

Other assets10 24,199 519 12,789 581 719 1,694 1,642 1,242 417 247 441 1,106 2,801

Interdistrict settlement account 0 + 12,339 - 175,567 - 15,635 + 15,613 - 321 + 40,676 + 18,355 + 7,757 + 4,344 + 6,264 + 26,539 + 59,635

Total assets 3,966,471 95,383 1,978,281 81,387 133,115 246,100 312,953 226,857 65,193 38,894 65,538 198,889 523,882

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, October 16, 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 1,935,227 58,195 642,075 55,433 91,850 132,201 272,083 124,923 57,392 31,156 51,156 161,246 257,517

Less: Notes held by F.R. Banks 210,837 6,540 53,875 9,150 9,803 16,664 28,068 14,207 6,023 3,656 7,870 21,489 33,491

Federal Reserve notes, net 1,724,390 51,656 588,201 46,283 82,047 115,537 244,015 110,715 51,369 27,499 43,286 139,757 224,026

Reverse repurchase agreements11 302,797 6,282 165,197 7,333 8,859 18,530 20,703 15,894 4,352 2,620 4,490 13,148 35,389

Deposits 1,894,555 35,467 1,209,521 26,034 38,733 103,316 45,394 98,420 8,693 8,224 17,205 45,238 258,311

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 1,469,871 35,442 822,438 26,032 38,703 102,625 45,356 61,777 8,687 8,173 17,174 45,158 258,304

U.S. Treasury, General Account 361,497 0 361,497 0 0 0 0 0 0 0 0 0 0

Foreign official 5,186 2 5,159 2 3 9 2 2 1 0 0 0 6

Other12 58,001 23 20,427 0 26 682 35 36,640 5 51 30 79 1

Deferred availability cash items 220 0 0 0 0 0 86 0 0 134 0 0 0

Earnings remittances due to the U.S.

Treasury13 1,096 22 619 29 32 58 96 50 18 10 7 54 102

Other liabilities and accrued

dividends 4,089 169 1,525 172 191 487 294 270 140 146 153 214 329

Total liabilities 3,927,147 93,595 1,965,062 79,851 129,862 237,928 310,587 225,349 64,572 38,634 65,141 198,410 518,156

Capital

Capital paid in 32,499 1,494 11,053 1,142 2,708 6,716 1,969 1,223 518 228 331 394 4,724

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 3,966,471 95,383 1,978,281 81,387 133,115 246,100 312,953 226,857 65,193 38,894 65,538 198,889 523,882

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, October 16, 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 Oct 16, 2019

Federal Reserve notes outstanding 1,935,227

Less: Notes held by F.R. Banks not subject to collateralization 210,837

Federal Reserve notes to be collateralized 1,724,390

Collateral held against Federal Reserve notes 1,724,390

Gold certificate account 11,037

Special drawing rights certificate account 5,200

U.S. Treasury, agency debt, and mortgage-backed securities pledged1,2 1,708,153

Other assets pledged 0

Memo:

Total U.S. Treasury, agency debt, and mortgage-backed securities1,2 3,786,269

Less: Face value of securities under reverse repurchase agreements 283,608

U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 3,502,661

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.