FEDERAL RESERVE statistical release

H.4.1

Factors Affecting Reserve Balances of Depository Institutions and

Condition Statement of Federal Reserve Banks November 14, 2019

1. Factors Affecting Reserve Balances of Depository Institutions

Millions of dollars

Averages of daily figures

Change from week ended

Reserve Bank credit, related items, and

reserve balances of depository institutions at

Federal Reserve Banks

Week ended

Nov 13, 2019 Nov 6, 2019 Nov 14, 2018

Wednesday

Nov 13, 2019

Reserve Bank credit 4,006,351 + 6,610 - 98,598 4,009,202

Securities held outright1 3,647,833 + 17,466 - 294,497 3,653,964

U.S. Treasury securities 2,199,094 + 16,845 - 71,315 2,201,529

Bills2 66,867 + 11,573 + 66,867 69,011

Notes and bonds, nominal2 1,983,196 + 3,544 - 149,566 1,983,196

Notes and bonds, inflation-indexed2 124,143 + 1,372 + 8,564 124,372

Inflation compensation3 24,887 + 355 + 2,819 24,950

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

Mortgage-backed securities4 1,446,392 + 621 - 223,120 1,450,089

Unamortized premiums on securities held outright5 126,862 + 250 - 15,992 126,854

Unamortized discounts on securities held outright5 -12,723 + 32 + 766 -12,731

Repurchase agreements6 213,514 - 13,589 + 213,514 209,609

Loans 24 - 1 - 71 37

Primary credit 4 + 3 - 16 16

Secondary credit 0 0 0 0

Seasonal credit 21 - 4 - 54 21

Other credit extensions 0 0 0 0

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

Float -103 + 88 + 68 -150

Central bank liquidity swaps8 41 - 5 - 6 41

Other Federal Reserve assets9 30,902 + 2,367 - 2,374 31,577

Foreign currency denominated assets10 20,526 - 195 - 17 20,531

Gold stock 11,041 0 0 11,041

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

Treasury currency outstanding11 50,078 + 14 + 348 50,078

Total factors supplying reserve funds 4,093,196 + 6,429 - 98,268 4,096,052

Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table.
H.4.1

1. Factors Affecting Reserve Balances of Depository Institutions (continued)

Millions of dollars

Averages of daily figures

Change from week ended

Reserve Bank credit, related items, and

reserve balances of depository institutions at

Federal Reserve Banks

Week ended

Nov 13, 2019 Nov 6, 2019 Nov 14, 2018

Wednesday

Nov 13, 2019

Currency in circulation11 1,786,912 + 4,625 + 85,973 1,787,932

Reverse repurchase agreements12 283,631 - 10,640 + 58,579 282,072

Foreign official and international accounts 282,583 - 9,442 + 58,173 280,310

Others 1,048 - 1,198 + 406 1,762

Treasury cash holdings 193 - 3 - 36 185

Deposits with F.R. Banks, other than reserve balances 444,636 + 4,029 + 25,700 437,792

Term deposits held by depository institutions 0 0 0 0

U.S. Treasury, General Account 381,955 + 4,926 + 40,861 370,185

Foreign official 5,183 0 - 75 5,183

Other13 57,497 - 898 - 15,087 62,424

Other liabilities and capital14 45,509 + 43 + 583 45,406

Total factors, other than reserve balances,

absorbing reserve funds 2,560,880 - 1,947 + 170,799 2,553,388

Reserve balances with Federal Reserve Banks 1,532,316 + 8,377 - 269,067 1,542,664

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

1. Includes securities lent to dealers under the overnight securities lending facility; refer to table 1A.

2. Face value of the securities.

3. Compensation that adjusts for the effect of inflation on the original face value of inflation-indexed securities.

4. Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. The current face value shown is the remaining principal balance of

the securities.

5. Reflects the premium or discount, which is the difference between the purchase price and the face value of the securities that has not been

amortized. For U.S. Treasury securities, Federal agency debt securities, and mortgage-backed securities, amortization is on an effective-interest

basis.

6. Cash value of agreements.

7. Refer to the note on consolidation accompanying table 5.

8. Dollar value of foreign currency held under these agreements valued at the exchange rate to be used when the foreign currency is returned

to the foreign central bank. This exchange rate equals the market exchange rate used when the foreign currency was acquired from the

foreign central bank.

9. Includes accrued interest, which represents the daily accumulation of interest earned, and other accounts receivable. Also, includes Reserve

Bank premises and equipment net of allowances for depreciation.

10. Revalued daily at current foreign currency exchange rates.

11. Estimated.

12. Cash value of agreements, which are collateralized by U.S. Treasury securities, federal agency debt securities, and mortgage-backed securities.

13. Includes deposits held at the Reserve Banks by international and multilateral organizations, government-sponsored enterprises, designated financial

market utilities, and deposits held by depository institutions in joint accounts in connection with their participation in certain private-sector payment

arrangements. Also includes certain deposit accounts other than the U.S. Treasury, General Account, for services provided by the Reserve Banks

as fiscal agents of the United States.

14. Includes the liability for earnings remittances due to the U.S. Treasury.

Sources: Federal Reserve Banks and the U.S. Department of the Treasury.
H.4.1

1A. Memorandum Items

Millions of dollars

Averages of daily figures

Memorandum item Week ended Change from week ended

Nov 13, 2019 Nov 6, 2019 Nov 14, 2018

Wednesday

Nov 13, 2019

Securities held in custody for foreign official and international

accounts 3,420,430 + 1,565 + 291 3,420,042

Marketable U.S. Treasury securities1 2,973,892 + 857 - 73,099 2,972,039

Federal agency debt and mortgage-backed securities2 362,712 + 383 + 56,075 363,993

Other securities3 83,827 + 327 + 17,316 84,010

Securities lent to dealers 27,941 + 788 + 12,013 27,222

Overnight facility4 27,941 + 788 + 12,013 27,222

U.S. Treasury securities 27,941 + 788 + 12,013 27,222

Federal agency debt securities 0 0 0 0

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

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

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

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

securities.

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

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

2. Maturity Distribution of Securities, Loans, and Selected Other Assets and Liabilities, November 13, 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 22 15 0 0 0 ... 37

U.S. Treasury securities1

Holdings 41,805 66,967 287,950 867,266 310,038 627,503 2,201,529

Weekly changes - 17 + 1,001 + 2,018 + 538 + 1,460 + 2,211 + 7,211

Federal agency debt securities2

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

Weekly changes 0 0 0 0 0 0 0

Mortgage-backed securities3

Holdings 0 0 15 953 77,491 1,371,630 1,450,089

Weekly changes 0 0 0 0 0 + 4,313 + 4,313

Repurchase agreements4 209,609 0 ... ... ... ... 209,609

Central bank liquidity swaps5 41 0 0 0 0 0 41

Reverse repurchase agreements4 282,072 0 ... ... ... ... 282,072

Term deposits 0 0 0 ... ... ... 0

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

...Not applicable.

1. Face value. For inflation-indexed securities, includes the original face value and compensation that adjusts for the effect of inflation on the

original face value of such securities.

2. Face value.

3. Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. The current face value shown is the remaining principal balance of the securities.

4. Cash value of agreements.

5. Dollar value of foreign currency held under these agreements valued at the exchange rate to be used when the foreign currency is returned to

the foreign central bank. This exchange rate equals the market exchange rate used when the foreign currency was acquired from the foreign

central bank.
H.4.1

3. Supplemental Information on Mortgage-Backed Securities

Millions of dollars

Wednesday Account name Nov 13, 2019

Mortgage-backed securities held outright1 1,450,089

Commitments to buy mortgage-backed securities2 5,540

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

Nov 13, 2019 Nov 6, 2019 Nov 14, 2018

Assets

Gold certificate account 11,037 0 0

Special drawing rights certificate account 5,200 0 0

Coin 1,667 - 7 - 54

Securities, unamortized premiums and discounts,

repurchase agreements, and loans 3,977,733 + 6,286 - 95,405

Securities held outright1 3,653,964 + 11,523 - 289,690

U.S. Treasury securities 2,201,529 + 7,211 - 68,891

Bills2 69,011 + 3,001 + 69,011

Notes and bonds, nominal2 1,983,196 + 2,201 - 149,566

Notes and bonds, inflation-indexed2 124,372 + 1,601 + 8,793

Inflation compensation3 24,950 + 408 + 2,870

Federal agency debt securities2 2,347 0 - 62

Mortgage-backed securities4 1,450,089 + 4,313 - 220,736

Unamortized premiums on securities held outright5 126,854 + 250 - 15,934

Unamortized discounts on securities held outright5 -12,731 + 50 + 749

Repurchase agreements6 209,609 - 5,551 + 209,609

Loans 37 + 15 - 139

Net portfolio holdings of Maiden Lane LLC7 0 0 - 7

Items in process of collection (0) 95 + 19 - 61

Bank premises 2,188 + 2 - 1

Central bank liquidity swaps8 41 - 5 - 6

Foreign currency denominated assets9 20,531 - 76 + 1

Other assets10 29,389 + 2,218 - 2,478

Total assets (0) 4,047,882 + 8,439 - 98,010

Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table.
H.4.1

4. Consolidated Statement of Condition of All Federal Reserve Banks (continued)

Millions of dollars

Change since

Assets, liabilities, and capital Wednesday Wednesday Eliminations from

consolidation

Wednesday

Nov 13, 2019 Nov 6, 2019 Nov 14, 2018

Liabilities

Federal Reserve notes, net of F.R. Bank holdings 1,739,702 + 2,967 + 84,831

Reverse repurchase agreements11 282,072 - 6,424 + 61,961

Deposits (0) 1,980,457 + 11,676 - 245,519

Term deposits held by depository institutions 0 0 0

Other deposits held by depository institutions 1,542,664 + 13,907 - 256,865

U.S. Treasury, General Account 370,185 - 7,999 + 41,499

Foreign official 5,183 0 - 73

Other12 (0) 62,424 + 5,767 - 30,081

Deferred availability cash items (0) 245 + 47 - 159

Other liabilities and accrued dividends13 6,088 + 172 + 682

Total liabilities (0) 4,008,563 + 8,437 - 98,205

Capital accounts

Capital paid in 32,493 0 + 194

Surplus 6,825 0 0

Other capital accounts 0 0 0

Total capital 39,318 0 + 194

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

1. Includes securities lent to dealers under the overnight securities lending facility; refer to table 1A.

2. Face value of the securities.

3. Compensation that adjusts for the effect of inflation on the original face value of inflation-indexed securities.

4. Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. The current face value shown is the remaining principal balance of the securities.

5. Reflects the premium or discount, which is the difference between the purchase price and the face value of the securities that has not been

amortized. For U.S. Treasury securities, Federal agency debt securities, and mortgage-backed securities, amortization is on an effective-interest

basis.

6. Cash value of agreements, which are collateralized by U.S. Treasury and federal agency securities.

7. Refer to the note on consolidation accompanying table 5.

8. Dollar value of foreign currency held under these agreements valued at the exchange rate to be used when the foreign currency is returned to

the foreign central bank. This exchange rate equals the market exchange rate used when the foreign currency was acquired from the foreign

central bank.

9. Revalued daily at current foreign currency exchange rates.

10. Includes accrued interest, which represents the daily accumulation of interest earned, and other accounts receivable.

11. Cash value of agreements, which are collateralized by U.S. Treasury securities, federal agency debt securities, and mortgage-backed securities.

12. Includes deposits held at the Reserve Banks by international and multilateral organizations, government-sponsored enterprises, designated financial

market utilities, and deposits held by depository institutions in joint accounts in connection with their participation in certain private-sector payment

arrangements. Also includes certain deposit accounts other than the U.S. Treasury, General Account, for services provided by the Reserve Banks

as fiscal agents of the United States.

13. Includes the liability for earnings remittances due to the U.S. Treasury.
H.4.1

5. Statement of Condition of Each Federal Reserve Bank, November 13, 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 1,667 43 47 150 106 212 173 276 34 46 109 186 285

Securities, unamortized premiums and

discounts, repurchase agreements,

and loans 3,977,733 82,522 2,170,116 96,326 116,377 243,421 271,973 208,795 57,170 34,435 58,983 172,716 464,899

Securities held outright1 3,653,964 75,806 1,993,496 88,487 106,906 223,610 249,833 191,802 52,517 31,619 54,182 158,659 427,049

U.S. Treasury securities 2,201,529 45,673 1,201,090 53,314 64,411 134,726 150,525 115,561 31,642 19,050 32,645 95,593 257,299

Bills2 69,011 1,432 37,650 1,671 2,019 4,223 4,718 3,622 992 597 1,023 2,997 8,066

Notes and bonds3 2,132,518 44,242 1,163,439 51,642 62,392 130,502 145,807 111,939 30,650 18,453 31,622 92,596 249,233

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

Mortgage-backed securities4 1,450,089 30,084 791,126 35,116 42,426 88,740 99,147 76,117 20,842 12,548 21,502 62,965 169,476

Unamortized premiums on securities 

held outright5 126,854 2,632 69,208 3,072 3,711 7,763 8,673 6,659 1,823 1,098 1,881 5,508 14,826

Unamortized discounts on securities 

held outright5 -12,731 -264 -6,946 -308 -372 -779 -870 -668 -183 -110 -189 -553 -1,488

Repurchase agreements6 209,609 4,349 114,357 5,076 6,133 12,827 14,332 11,003 3,013 1,814 3,108 9,101 24,498

Loans 37 0 1 0 0 0 6 0 0 15 0 0 15

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 95 0 0 0 0 0 94 0 0 1 0 0 0

Bank premises 2,188 107 455 84 116 191 204 193 102 94 228 224 189

Central bank liquidity swaps8 41 2 13 2 3 9 2 2 1 0 0 1 6

Foreign currency denominated

assets9 20,531 884 6,516 1,186 1,639 4,377 1,194 857 313 98 199 254 3,014

Other assets10 29,389 626 15,578 704 872 2,013 1,993 1,511 511 331 525 1,330 3,395

Interdistrict settlement account 0 + 3,770 - 135,893 - 15,059 + 15,343 + 2,370 + 32,419 + 9,860 + 8,827 + 4,730 + 7,721 + 25,887 + 40,024

Total assets 4,047,882 88,500 2,062,357 83,931 135,225 253,759 310,266 222,630 67,436 40,010 68,210 201,770 513,788

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, November 13, 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 1,947,241 59,651 641,768 56,247 93,415 133,018 272,816 126,175 58,334 31,180 52,558 162,911 259,167

Less: Notes held by F.R. Banks 207,539 6,334 53,431 8,871 9,174 15,807 30,115 13,467 5,730 3,445 7,645 20,505 33,016

Federal Reserve notes, net 1,739,702 53,317 588,337 47,376 84,241 117,211 242,701 112,708 52,605 27,735 44,913 142,407 226,151

Reverse repurchase agreements11 282,072 5,852 153,890 6,831 8,253 17,262 19,286 14,806 4,054 2,441 4,183 12,248 32,967

Deposits 1,980,457 27,338 1,304,292 27,968 39,229 110,493 45,394 93,241 9,980 9,216 18,530 46,346 248,429

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 1,542,664 27,324 901,480 27,966 39,196 110,087 45,359 58,940 9,977 9,158 18,511 46,244 248,422

U.S. Treasury, General Account 370,185 0 370,185 0 0 0 0 0 0 0 0 0 0

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

Other12 62,424 12 27,471 0 30 398 33 34,300 3 57 19 102 1

Deferred availability cash items 245 0 0 0 0 0 77 0 0 167 0 0 0

Earnings remittances due to the U.S.

Treasury13 1,424 26 807 33 39 70 115 69 22 12 18 70 144

Other liabilities and accrued

dividends 4,663 180 1,813 187 211 550 328 297 153 158 170 239 378

Total liabilities 4,008,563 86,712 2,049,139 82,395 131,972 245,587 307,901 221,122 66,814 39,729 67,814 201,310 508,068

Capital

Capital paid in 32,493 1,494 11,053 1,142 2,708 6,717 1,968 1,223 517 248 330 375 4,718

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

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

Total liabilities and capital 4,047,882 88,500 2,062,357 83,931 135,225 253,759 310,266 222,630 67,436 40,010 68,210 201,770 513,788

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, November 13, 2019 (continued)

1. Includes securities lent to dealers under the overnight securities lending facility; refer to table 1A.

2. Face value of the securities.

3. Includes the original face value of inflation-indexed securities and compensation that adjusts for the effect of inflation on the original face value of such securities.

4. Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. The current face value shown is the remaining principal balance of the securities.

5. Reflects the premium or discount, which is the difference between the purchase price and the face value of the securities that has not been amortized. For U.S. Treasury securities, Federal

agency debt securities, and mortgage-backed securities, amortization is on an effective-interest basis.

6. Cash value of agreements, which are collateralized by U.S. Treasury and federal agency securities.

7. Refer to the note on consolidation below.

8. Dollar value of foreign currency held under these agreements valued at the exchange rate to be used when the foreign currency is returned to the foreign central bank. This exchange rate

equals the market exchange rate used when the foreign currency was acquired from the foreign central bank.

9. Revalued daily at current foreign currency exchange rates.

10. Includes accrued interest, which represents the daily accumulation of interest earned, and other accounts receivable.

11. Cash value of agreements, which are collateralized by U.S. Treasury securities, federal agency debt securities, and mortgage-backed securities.

12. Includes deposits held at the Reserve Banks by international and multilateral organizations, government-sponsored enterprises, designated financial market utilities, and deposits held by

depository institutions in joint accounts in connection with their participation in certain private-sector payment arrangements. Also includes certain deposit accounts other than the U.S. Treasury,

General Account, for services provided by the Reserve Banks as fiscal agents of the United States.

13. Represents the estimated weekly remittances due to U.S. Treasury. The amounts on this line represent the residual net earnings that the Federal Reserve Banks remit to the U.S. Treasury after

providing for the costs of operations, payment of dividends, and the amount necessary to maintain a $6.825 billion surplus.

Note on consolidation:

On June 26, 2008, the Federal Reserve Bank of New York (FRBNY) extended a loan to Maiden Lane LLC (ML) under the authority of section 13(3) of the Federal Reserve Act. ML was formed to acquire certain

assets of Bear Stearns and to manage those assets through time to maximize repayment of the credit extended and minimize disruption to financial markets. On June 14, 2012, the remaining outstanding

balance of the senior loan from FRBNY to ML was repaid in full, with interest. On November 15, 2012, the remaining outstanding balance of the subordinated loan from JPMorgan Chase & Co. to ML was repaid

in full, with interest. FRBNY was the primary beneficiary of ML because it received any residual returns and could have absorbed any residual losses should they have occurred. Consistent with generally

accepted accounting principles, the assets and liabilities of ML were consolidated with the assets and liabilities of FRBNY in the preparation of the statements of condition shown on this release. As a

consequence of the consolidation, the extension of credit from FRBNY to ML was eliminated, the net assets of ML appeared as assets on the previous page (and in table 1 and table 4), and the liabilities of ML

to entities other than FRBNY, including those with recourse only to the ML portfolio holdings, were included in other liabilities in this table (and table 1 and table 4).
H.4.1

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

Millions of dollars

Wednesday Federal Reserve notes and collateral Nov 13, 2019

Federal Reserve notes outstanding 1,947,241

Less: Notes held by F.R. Banks not subject to collateralization 207,539

Federal Reserve notes to be collateralized 1,739,702

Collateral held against Federal Reserve notes 1,739,702

Gold certificate account 11,037

Special drawing rights certificate account 5,200

U.S. Treasury, agency debt, and mortgage-backed securities pledged1,2 1,723,465

Other assets pledged 0

Memo:

Total U.S. Treasury, agency debt, and mortgage-backed securities1,2 3,863,573

Less: Face value of securities under reverse repurchase agreements 265,582

U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 3,597,991

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.