FEDERAL RESERVE statistical release

H.4.1

Factors Affecting Reserve Balances of Depository Institutions and

Condition Statement of Federal Reserve Banks April 18, 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 17, 2019 Apr 10, 2019 Apr 18, 2018

Wednesday

Apr 17, 2019

Reserve Bank credit 3,896,274 - 629 - 452,265 3,892,955

Securities held outright1 3,746,574 - 1,916 - 429,939 3,743,694

U.S. Treasury securities 2,153,456 + 62 - 259,641 2,153,409

Bills2 0 0 0 0

Notes and bonds, nominal2 2,016,564 - 68 - 265,368 2,016,474

Notes and bonds, inflation-indexed2 115,150 - 4 + 4,121 115,144

Inflation compensation3 21,742 + 134 + 1,606 21,792

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

Mortgage-backed securities4 1,590,771 - 1,979 - 168,254 1,587,938

Unamortized premiums on securities held outright5 135,077 - 268 - 18,886 134,913

Unamortized discounts on securities held outright5 -13,046 + 30 + 946 -13,034

Repurchase agreements6 0 0 0 0

Loans 24 + 11 - 11 19

Primary credit 10 + 6 + 5 5

Secondary credit 0 0 0 0

Seasonal credit 13 + 4 - 17 15

Other credit extensions 0 0 0 0

Net portfolio holdings of Maiden Lane LLC7 0 0 - 1,709 0

Float -208 - 29 - 33 -251

Central bank liquidity swaps8 55 0 - 27 55

Other Federal Reserve assets9 27,799 + 1,545 - 2,605 27,559

Foreign currency denominated assets10 20,631 + 26 - 1,523 20,626

Gold stock 11,041 0 0 11,041

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

Treasury currency outstanding11 49,914 + 14 + 383 49,914

Total factors supplying reserve funds 3,983,060 - 589 - 453,405 3,979,736

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 17, 2019 Apr 10, 2019 Apr 18, 2018

Wednesday

Apr 17, 2019

Currency in circulation11 1,727,028 + 308 + 86,612 1,728,061

Reverse repurchase agreements12 251,859 - 1,815 + 11,325 255,682

Foreign official and international accounts 251,730 - 1,360 + 16,324 255,667

Others 129 - 455 - 4,999 15

Treasury cash holdings 332 - 4 + 25 332

Deposits with F.R. Banks, other than reserve balances 354,341 + 31,349 - 13,962 426,827

Term deposits held by depository institutions 0 0 0 0

U.S. Treasury, General Account 285,264 + 22,647 + 10,018 369,365

Foreign official 5,244 + 1 - 10 5,243

Other13 63,833 + 8,701 - 23,970 52,219

Other liabilities and capital14 45,020 - 316 - 495 44,537

Total factors, other than reserve balances,

absorbing reserve funds 2,378,580 + 29,522 + 83,505 2,455,439

Reserve balances with Federal Reserve Banks 1,604,479 - 30,112 - 536,911 1,524,297

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 17, 2019 Apr 10, 2019 Apr 18, 2018

Wednesday

Apr 17, 2019

Securities held in custody for foreign official and international

accounts 3,467,494 - 3,745 + 30,451 3,457,569

Marketable U.S. Treasury securities1 3,062,214 - 11,458 - 20,955 3,051,262

Federal agency debt and mortgage-backed securities2 333,832 + 7,009 + 59,580 334,588

Other securities3 71,449 + 706 - 8,173 71,719

Securities lent to dealers 21,944 - 4,608 + 4,534 24,200

Overnight facility4 21,944 - 4,608 + 4,534 24,200

U.S. Treasury securities 21,944 - 4,608 + 4,534 24,200

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 17, 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 19 0 0 0 0 ... 19

U.S. Treasury securities1

Holdings 31,746 82,182 263,734 908,683 249,260 617,804 2,153,409

Weekly changes + 31,566 - 29,559 - 1,917 - 244 + 53 + 66 - 34

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 1,514,041 1,587,938

Weekly changes 0 0 0 - 2 - 384 - 4,587 - 4,974

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

Central bank liquidity swaps5 55 0 0 0 0 0 55

Reverse repurchase agreements4 255,682 0 ... ... ... ... 255,682

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 17, 2019

Mortgage-backed securities held outright1 1,587,938

Commitments to buy mortgage-backed securities2 146

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 17, 2019 Apr 10, 2019 Apr 18, 2018

Assets

Gold certificate account 11,037 0 0

Special drawing rights certificate account 5,200 0 0

Coin 1,694 - 14 - 127

Securities, unamortized premiums and discounts,

repurchase agreements, and loans 3,865,592 - 5,349 - 448,006

Securities held outright1 3,743,694 - 5,008 - 430,066

U.S. Treasury securities 2,153,409 - 34 - 259,670

Bills2 0 0 0

Notes and bonds, nominal2 2,016,474 - 158 - 265,521

Notes and bonds, inflation-indexed2 115,144 - 10 + 4,237

Inflation compensation3 21,792 + 134 + 1,615

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

Mortgage-backed securities4 1,587,938 - 4,974 - 168,352

Unamortized premiums on securities held outright5 134,913 - 370 - 18,863

Unamortized discounts on securities held outright5 -13,034 + 31 + 947

Repurchase agreements6 0 0 0

Loans 19 - 2 - 24

Net portfolio holdings of Maiden Lane LLC7 0 0 - 1,710

Items in process of collection (0) 65 + 10 0

Bank premises 2,203 + 1 + 3

Central bank liquidity swaps8 55 0 - 27

Foreign currency denominated assets9 20,626 - 49 - 1,579

Other assets10 25,356 + 444 - 2,630

Total assets (0) 3,931,827 - 4,957 - 454,076

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 17, 2019 Apr 10, 2019 Apr 18, 2018

Liabilities

Federal Reserve notes, net of F.R. Bank holdings 1,680,169 - 321 + 85,353

Reverse repurchase agreements11 255,682 - 692 + 7,934

Deposits (0) 1,951,123 - 3,022 - 547,212

Term deposits held by depository institutions 0 0 0

Other deposits held by depository institutions 1,524,297 - 122,263 - 542,862

U.S. Treasury, General Account 369,365 + 123,701 + 18,422

Foreign official 5,243 - 1 - 10

Other12 (0) 52,219 - 4,457 - 22,760

Deferred availability cash items (0) 316 + 74 - 37

Other liabilities and accrued dividends13 5,194 - 997 - 213

Total liabilities (0) 3,892,485 - 4,957 - 454,173

Capital accounts

Capital paid in 32,517 0 + 772

Surplus 6,825 0 - 675

Other capital accounts 0 0 0

Total capital 39,342 0 + 97

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 17, 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 1,694 45 41 150 111 220 173 291 26 48 112 190 286

Securities, unamortized premiums and

discounts, repurchase agreements,

and loans 3,865,592 80,196 2,108,943 93,611 113,097 236,559 264,304 202,922 55,558 33,453 57,320 167,848 451,780

Securities held outright1 3,743,694 77,667 2,042,450 90,660 109,531 229,101 255,968 196,512 53,807 32,395 55,513 162,556 437,536

U.S. Treasury securities 2,153,409 44,675 1,174,837 52,148 63,003 131,781 147,235 113,035 30,950 18,634 31,932 93,504 251,675

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

Notes and bonds3 2,153,409 44,675 1,174,837 52,148 63,003 131,781 147,235 113,035 30,950 18,634 31,932 93,504 251,675

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

Mortgage-backed securities4 1,587,938 32,944 866,332 38,454 46,459 97,176 108,572 83,353 22,823 13,741 23,547 68,950 185,587

Unamortized premiums on securities 

held outright5 134,913 2,799 73,605 3,267 3,947 8,256 9,224 7,082 1,939 1,167 2,001 5,858 15,768

Unamortized discounts on securities 

held outright5 -13,034 -270 -7,111 -316 -381 -798 -891 -684 -187 -113 -193 -566 -1,523

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

Loans 19 0 0 0 0 0 3 13 0 3 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 65 0 0 0 0 0 64 0 0 0 0 0 0

Bank premises 2,203 109 458 81 119 193 208 192 105 95 230 222 192

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

Foreign currency denominated

assets9 20,626 888 6,546 1,192 1,646 4,398 1,199 861 314 98 200 255 3,028

Other assets10 25,356 554 13,363 612 753 1,776 1,725 1,305 435 263 450 1,175 2,945

Interdistrict settlement account 0 - 692 - 107,441 + 3,129 + 3,800 - 1,041 + 20,607 - 1,045 + 6,558 + 3,712 + 3,938 + 22,873 + 45,602

Total assets 3,931,827 81,650 2,027,454 99,315 120,298 243,283 290,497 205,664 63,477 37,945 62,696 193,735 505,814

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 17, 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 1,872,721 57,544 619,937 54,345 89,570 126,540 259,238 120,873 55,651 31,318 49,651 156,598 251,457

Less: Notes held by F.R. Banks 192,552 6,104 49,080 7,574 9,536 14,458 30,919 12,878 5,334 3,069 7,004 18,020 28,577

Federal Reserve notes, net 1,680,169 51,440 570,857 46,771 80,034 112,081 228,319 107,995 50,317 28,249 42,647 138,578 222,880

Reverse repurchase agreements11 255,682 5,304 139,493 6,192 7,481 15,647 17,482 13,421 3,675 2,212 3,791 11,102 29,882

Deposits 1,951,123 23,024 1,302,454 43,885 29,427 106,640 41,976 82,286 8,720 6,880 15,708 43,301 246,821

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 1,524,297 23,014 910,074 43,882 29,392 106,286 41,943 48,522 8,711 6,827 15,670 43,160 246,815

U.S. Treasury, General Account 369,365 0 369,365 0 0 0 0 0 0 0 0 0 0

Foreign official 5,243 2 5,216 2 3 9 2 2 1 0 0 0 6

Other12 52,219 8 17,800 1 32 346 31 33,762 8 53 38 141 1

Deferred availability cash items 316 0 0 0 0 0 57 0 0 259 0 0 0

Earnings remittances due to the U.S.

Treasury13 1,090 21 611 19 33 49 100 56 23 11 17 60 91

Other liabilities and accrued

dividends 4,104 172 1,551 185 191 485 285 266 127 145 140 207 350

Total liabilities 3,892,485 79,962 2,014,965 97,052 117,166 234,902 288,220 204,025 62,860 37,756 62,304 193,248 500,025

Capital

Capital paid in 32,517 1,394 10,323 1,869 2,587 6,926 1,880 1,354 512 157 326 403 4,787

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 3,931,827 81,650 2,027,454 99,315 120,298 243,283 290,497 205,664 63,477 37,945 62,696 193,735 505,814

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 17, 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 17, 2019

Federal Reserve notes outstanding 1,872,721

Less: Notes held by F.R. Banks not subject to collateralization 192,552

Federal Reserve notes to be collateralized 1,680,169

Collateral held against Federal Reserve notes 1,680,169

Gold certificate account 11,037

Special drawing rights certificate account 5,200

U.S. Treasury, agency debt, and mortgage-backed securities pledged1,2 1,663,932

Other assets pledged 0

Memo:

Total U.S. Treasury, agency debt, and mortgage-backed securities1,2 3,743,694

Less: Face value of securities under reverse repurchase agreements 253,338

U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 3,490,356

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.