FEDERAL RESERVE statistical release

H.4.1

Factors Affecting Reserve Balances of Depository Institutions and     
Condition Statement of Federal Reserve Banks                                                November 21, 2019


1. Factors Affecting Reserve Balances of Depository Institutions
Millions of dollars
Reserve Bank credit, related items, and                          Averages of daily figures         Wednesday  
reserve balances of depository institutions at             Week ended    Change from week ended  Nov 20, 2019 
Federal Reserve Banks                                     Nov 20, 2019 Nov 13, 2019 Nov 21, 2018              

Reserve Bank credit                                         3,987,351   -   19,000   -   82,706    3,991,619  
  Securities held outright (1)                              3,652,458   +    4,625   -  267,715    3,659,904  
    U.S. Treasury securities                                2,208,019   +    8,925   -   45,048    2,220,361  
      Bills (2)                                                74,369   +    7,502   +   74,369       84,013  
      Notes and bonds, nominal (2)                          1,984,312   +    1,116   -  131,072    1,986,999  
      Notes and bonds, inflation-indexed (2)                  124,372   +      229   +    8,793      124,372  
      Inflation compensation (3)                               24,967   +       80   +    2,863       24,977  
    Federal agency debt securities (2)                          2,347            0   -       62        2,347  
    Mortgage-backed securities (4)                          1,442,091   -    4,301   -  222,606    1,437,197  
  Unamortized premiums on securities held outright (5)        126,481   -      381   -   15,948      126,210  
  Unamortized discounts on securities held outright (5)       -12,907   -      184   +      646      -12,993  
  Repurchase agreements (6)                                   200,109   -   13,405   +  200,100      199,159  
  Loans                                                            25   +        1   -       66           26  
    Primary credit                                                  4            0   -        1            7  
    Secondary credit                                                0            0            0            0  
    Seasonal credit                                                21            0   -       65           19  
    Other credit extensions                                         0            0            0            0  
  Net portfolio holdings of Maiden Lane LLC (7)                     0            0   -        7            0  
  Float                                                           -87   +       16   +       62          -71  
  Central bank liquidity swaps (8)                                 48   +        7   -       10           48  
  Other Federal Reserve assets (9)                             21,224   -    9,678   +      233       19,334  
Foreign currency denominated assets (10)                       20,598   +       72   -       83       20,607  
Gold stock                                                     11,041            0            0       11,041  
Special drawing rights certificate account                      5,200            0            0        5,200  
Treasury currency outstanding (11)                             50,092   +       14   +      357       50,092  
                                                                                                              
Total factors supplying reserve funds                       4,074,282   -   18,914   -   82,432    4,078,559  

Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table.





1. Factors Affecting Reserve Balances of Depository Institutions (continued)
Millions of dollars
Reserve Bank credit, related items, and                          Averages of daily figures         Wednesday  
reserve balances of depository institutions at             Week ended    Change from week ended  Nov 20, 2019 
Federal Reserve Banks                                     Nov 20, 2019 Nov 13, 2019 Nov 21, 2018              

Currency in circulation (11)                                 1,785,542   -    1,370   +   82,759    1,785,928 
Reverse repurchase agreements (12)                             289,073   +    5,442   +   44,574      300,914 
  Foreign official and international accounts                  277,384   -    5,199   +   47,742      274,817 
  Others                                                        11,689   +   10,641   -    3,167       26,097 
Treasury cash holdings                                             185   -        8   -       33          183 
Deposits with F.R. Banks, other than reserve balances          435,164   -    9,472   +   29,140      416,214 
  Term deposits held by depository institutions                      0            0            0            0 
  U.S. Treasury, General Account                               368,813   -   13,142   +   38,611      357,551 
  Foreign official                                               5,183            0   -       74        5,183 
  Other (13)                                                    61,169   +    3,672   -    9,396       53,481 
Other liabilities and capital (14)                              45,558   +       49   +       96       45,162 
                                                                                                              
Total factors, other than reserve balances,               
    absorbing reserve funds                                  2,555,522   -    5,358   +  156,536    2,548,401 
                                                                                                              
Reserve balances with Federal Reserve Banks                  1,518,759   -   13,557   -  238,970    1,530,158 

Note: Components may not sum to totals because of rounding.


1.  Includes securities lent to dealers under the overnight securities lending facility; refer to table     
    1A.                                                                                                 
2.  Face value of the securities.                                                                           
3.  Compensation that adjusts for the effect of inflation on the original face value of                     
    inflation-indexed securities.                                                                       
4.  Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. The current face value shown is the              
    remaining principal balance of the securities.                                                      
5.  Reflects the premium or discount, which is the difference between the purchase price and the face       
    value of the securities that has not been amortized. For U.S. Treasury securities, Federal agency debt
    securities, and mortgage-backed securities, amortization is on an effective-interest basis.         
6.  Cash value of agreements.                                                                               
7.  Refer to the note on consolidation accompanying table 5.                                                
8.  Dollar value of foreign currency held under these agreements valued at the exchange rate to be used     
    when the foreign currency is returned to the foreign central bank. This exchange rate equals the    
    market exchange rate used when the foreign currency was acquired from the foreign central bank.     
9.  Includes accrued interest, which represents the daily accumulation of interest earned, and other        
    accounts receivable. Also, includes Reserve Bank premises and equipment net of allowances for       
    depreciation.                                                                                       
10. Revalued daily at current foreign currency exchange rates.                                              
11. Estimated.                                                                                              
12. Cash value of agreements, which are collateralized by U.S. Treasury securities, federal agency debt     
    securities, and mortgage-backed securities.                                                         
13. Includes deposits held at the Reserve Banks by international and multilateral organizations,            
    government-sponsored enterprises, designated financial market utilities, and deposits held by depository
    institutions in joint accounts in connection with their participation in certain private-sector payment
    arrangements. Also includes certain deposit accounts other than the U.S. Treasury, General Account, 
    for services provided by the Reserve Banks as fiscal agents of the United States.                   
14. Includes the liability for earnings remittances due to the U.S. Treasury.                               
                                                                                                            



Sources: Federal Reserve Banks and the U.S. Department of the Treasury.





1A. Memorandum Items
Millions of dollars
Memorandum item                                                  Averages of daily figures         Wednesday  
                                                           Week ended    Change from week ended  Nov 20, 2019 
                                                          Nov 20, 2019 Nov 13, 2019 Nov 21, 2018              

Securities held in custody for foreign official and       
     international accounts                                  3,415,505   -    4,925   +   10,386    3,415,248 
  Marketable U.S. Treasury securities (1)                    2,968,465   -    5,427   -   62,882    2,966,133 
  Federal agency debt and mortgage-backed securities (2)       362,851   +      139   +   55,114      364,718 
  Other securities (3)                                          84,190   +      363   +   18,154       84,397 
Securities lent to dealers                                      29,935   +    1,994   +   14,261       30,689 
  Overnight facility (4)                                        29,935   +    1,994   +   14,261       30,689 
    U.S. Treasury securities                                    29,935   +    1,994   +   14,261       30,689 
    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 20, 2019   

Millions of dollars
Remaining Maturity                     Within 15     16 days to    91 days to   Over 1 year   Over 5 year     Over 10         All      
                                          days        90 days        1 year      to 5 years   to 10 years      years                   

Loans                                           26             0             0             0             0           ...            26 
U.S. Treasury securities (1)                                                                                                           
  Holdings                                  10,034        96,881       282,729       876,899       317,309       636,510     2,220,361 
  Weekly changes                        -   31,771    +   29,914    -    5,221    +    9,633    +    7,271    +    9,007    +   18,832 
Federal agency debt securities (2)                                                                                                     
  Holdings                                       0             0             0             0           486         1,861         2,347 
  Weekly changes                                 0             0             0             0             0             0             0 
Mortgage-backed securities (3)                                                                                                         
  Holdings                                       0             0            15         1,009        76,945     1,359,228     1,437,197 
  Weekly changes                                 0             0             0    +       56    -      546    -   12,402    -   12,892 
Repurchase agreements (4)                  199,159             0           ...           ...           ...           ...       199,159 
Central bank liquidity swaps (5)                48             0             0             0             0             0            48 
                                                                                                                                       
Reverse repurchase agreements (4)          300,914             0           ...           ...           ...           ...       300,914 
Term deposits                                    0             0             0           ...           ...           ...             0 

Note: Components may not sum to totals because of rounding.
...Not applicable.


1.  Face value. For inflation-indexed securities, includes the original face value and compensation         
    that adjusts for the effect of inflation on the original face value of such securities.             
2.  Face value.                                                                                             
3.  Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. The current face value shown is the              
    remaining principal balance of the securities.                                                      
4.  Cash value of agreements.                                                                               
5.  Dollar value of foreign currency held under these agreements valued at the exchange rate to be used     
    when the foreign currency is returned to the foreign central bank. This exchange rate equals the    
    market exchange rate used when the foreign currency was acquired from the foreign central bank.     
                                                                                                            






3. Supplemental Information on Mortgage-Backed Securities
Millions of dollars
Account name                                                                                                            Wednesday   
                                                                                                                      Nov 20, 2019  

Mortgage-backed securities held outright (1)                                                                             1,437,197  
                                                                                                                                    
Commitments to buy mortgage-backed securities (2)                                                                            5,083  
Commitments to sell mortgage-backed securities (2)                                                                              10  
                                                                                                                                    
Cash and cash equivalents (3)                                                                                                    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.                                                                                        







4. Consolidated Statement of Condition of All Federal Reserve Banks
Millions of dollars
Assets, liabilities, and capital                         Eliminations     Wednesday         Change since       
                                                             from       Nov 20, 2019   Wednesday    Wednesday  
                                                        consolidation                Nov 13, 2019 Nov 21, 2018 

Assets                                                                                                         
  Gold certificate account                                                   11,037            0            0  
  Special drawing rights certificate account                                  5,200            0            0  
  Coin                                                                        1,658   -        9   -       40  
  Securities, unamortized premiums and discounts,     
     repurchase agreements, and loans                                     3,972,307   -    5,426   -   73,726  
    Securities held outright (1)                                          3,659,904   +    5,940   -  257,420  
      U.S. Treasury securities                                            2,220,361   +   18,832   -   32,724  
        Bills (2)                                                            84,013   +   15,002   +   84,013  
        Notes and bonds, nominal (2)                                      1,986,999   +    3,803   -  128,385  
        Notes and bonds, inflation-indexed (2)                              124,372            0   +    8,793  
        Inflation compensation (3)                                           24,977   +       27   +    2,855  
      Federal agency debt securities (2)                                      2,347            0   -       62  
      Mortgage-backed securities (4)                                      1,437,197   -   12,892   -  224,633  
    Unamortized premiums on securities held outright  
    (5)                                                                     126,210   -      644   -   15,967  
    Unamortized discounts on securities held outright 
    (5)                                                                     -12,993   -      262   +      545  
    Repurchase agreements (6)                                               199,159   -   10,450   +  199,159  
    Loans                                                                        26   -       11   -       45  
  Net portfolio holdings of Maiden Lane LLC (7)                                   0            0   -        7  
  Items in process of collection                                   (0)           57   -       38   -       16  
  Bank premises                                                               2,193   +        5   +        1  
  Central bank liquidity swaps (8)                                               48   +        7   -       10  
  Foreign currency denominated assets (9)                                    20,607   +       76   -       58  
  Other assets (10)                                                          17,141   -   12,248   -    2,094  
                                                                                                               
Total assets                                                       (0)    4,030,249   -   17,633   -   75,949  

Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table.





4. Consolidated Statement of Condition of All Federal Reserve Banks (continued)
Millions of dollars
Assets, liabilities, and capital                         Eliminations     Wednesday         Change since       
                                                             from       Nov 20, 2019   Wednesday    Wednesday  
                                                        consolidation                Nov 13, 2019 Nov 21, 2018 

Liabilities                                                                                                    
  Federal Reserve notes, net of F.R. Bank holdings                         1,737,673   -    2,029   +   79,596 
  Reverse repurchase agreements (11)                                         300,914   +   18,842   +   50,045 
  Deposits                                                          (0)    1,946,373   -   34,084   -  205,227 
    Term deposits held by depository institutions                                  0            0            0 
    Other deposits held by depository institutions                         1,530,158   -   12,506   -  227,349 
    U.S. Treasury, General Account                                           357,551   -   12,634   +   40,220 
    Foreign official                                                           5,183            0   -       74 
    Other (12)                                                      (0)       53,481   -    8,943   -   18,024 
  Deferred availability cash items                                  (0)          128   -      117   -      123 
  Other liabilities and accrued dividends (13)                                 6,261   +      173   -       12 
                                                                                                               
Total liabilities                                                   (0)    3,991,349   -   17,214   -   75,721 
                                                                                                               
Capital accounts                                                                                               
  Capital paid in                                                             32,075   -      418   -      228 
  Surplus                                                                      6,825            0            0 
  Other capital accounts                                                           0            0            0 
                                                                                                               
Total capital                                                                 38,900   -      418   -      228 

Note: Components may not sum to totals because of rounding.


1.  Includes securities lent to dealers under the overnight securities lending facility; refer to table     
    1A.                                                                                                 
2.  Face value of the securities.                                                                           
3.  Compensation that adjusts for the effect of inflation on the original face value of                     
    inflation-indexed securities.                                                                       
4.  Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. The current face value shown is the              
    remaining principal balance of the securities.                                                      
5.  Reflects the premium or discount, which is the difference between the purchase price and the face       
    value of the securities that has not been amortized. For U.S. Treasury securities, Federal agency debt
    securities, and mortgage-backed securities, amortization is on an effective-interest basis.         
6.  Cash value of agreements, which are collateralized by U.S. Treasury and federal agency securities.      
7.  Refer to the note on consolidation accompanying table 5.                                                
8.  Dollar value of foreign currency held under these agreements valued at the exchange rate to be used     
    when the foreign currency is returned to the foreign central bank. This exchange rate equals the    
    market exchange rate used when the foreign currency was acquired from the foreign central bank.     
9.  Revalued daily at current foreign currency exchange rates.                                              
10. Includes accrued interest, which represents the daily accumulation of interest earned, and other        
    accounts receivable.                                                                                
11. Cash value of agreements, which are collateralized by U.S. Treasury securities, federal agency debt     
    securities, and mortgage-backed securities.                                                         
12. Includes deposits held at the Reserve Banks by international and multilateral organizations,            
    government-sponsored enterprises, designated financial market utilities, and deposits held by depository
    institutions in joint accounts in connection with their participation in certain private-sector payment
    arrangements. Also includes certain deposit accounts other than the U.S. Treasury, General Account, 
    for services provided by the Reserve Banks as fiscal agents of the United States.                   
13. Includes the liability for earnings remittances due to the U.S. Treasury.                               

 



5. Statement of Condition of Each Federal Reserve Bank, November 20, 2019
Millions of dollars
Assets, liabilities, and capital               Total       Boston     New York  Philadelphia  Cleveland    Richmond    Atlanta     Chicago    St. Louis  Minneapolis    Kansas      Dallas       San     
                                                                                                                                                                         City                 Francisco  

Assets                                                                                                                                                                                                   
  Gold certificate account                        11,037         351       3,707          327         531         754       1,560         711         328         186         292         890       1,400
  Special drawing rights certificate acct.         5,200         196       1,818          210         237         412         654         424         150          90         153         282         574
  Coin                                             1,658          43          45          149         106         211         170         275          34          46         110         186         284
  Securities, unamortized premiums and      
     discounts, repurchase agreements,      
     and loans                                 3,972,307      82,410   2,167,165       96,195     116,219     243,089     271,604     208,511      57,092      34,385      58,903     172,481     464,251
    Securities held outright (1)               3,659,904      75,929   1,996,737       88,630     107,079     223,973     250,239     192,113      52,602      31,670      54,270     158,917     427,743
      U.S. Treasury securities                 2,220,361      46,064   1,211,364       53,770      64,962     135,878     151,813     116,550      31,912      19,213      32,924      96,411     259,500
        Bills (2)                                 84,013       1,743      45,835        2,035       2,458       5,141       5,744       4,410       1,207         727       1,246       3,648       9,819
        Notes and bonds (3)                    2,136,348      44,321   1,165,529       51,735      62,504     130,737     146,069     112,140      30,705      18,486      31,679      92,763     249,681
      Federal agency debt securities (2)           2,347          49       1,280           57          69         144         160         123          34          20          35         102         274
      Mortgage-backed securities (4)           1,437,197      29,816     784,092       34,804      42,049      87,951      98,266      75,440      20,656      12,436      21,311      62,405     167,969
    Unamortized premiums on securities held 
      outright (5)                               126,210       2,618      68,857        3,056       3,693       7,724       8,629       6,625       1,814       1,092       1,871       5,480      14,751
    Unamortized discounts on securities     
      held outright (5)                          -12,993        -270      -7,089         -315        -380        -795        -888        -682        -187        -112        -193        -564      -1,519
    Repurchase agreements (6)                    199,159       4,132     108,655        4,823       5,827      12,188      13,617      10,454       2,862       1,723       2,953       8,648      23,276
    Loans                                             26           0           5            0           0           0           7           1           0          12           1           0           0
  Net portfolio holdings of Maiden                                                                                                                                                                       
     Lane LLC (7)                                      0           0           0            0           0           0           0           0           0           0           0           0           0
  Items in process of collection                      57           0           0            0           0           0          56           0           0           1           0           0           0
  Bank premises                                    2,193         107         455           87         116         191         204         195         102          94         228         225         190
  Central bank liquidity swaps (8)                    48           2          15            3           4          10           3           2           1           0           0           1           7
  Foreign currency denominated                                                                                                                                                                           
     assets (9)                                   20,607         887       6,540        1,191       1,645       4,394       1,198         860         314          98         200         255       3,025
  Other assets (10)                               17,141         368       8,862          406         502       1,253       1,149         873         437         182         319         828       1,962
  Interdistrict settlement account                     0  +    7,381  -  176,273   -   12,474  +   15,007  +    9,618  +   31,360  +   12,434  +    8,870  +    4,407  +    8,496  +   25,570  +   65,604
                                                                                                                                                                                                         
Total assets                                   4,030,249      91,745   2,012,336       86,093     134,367     259,933     307,958     224,285      67,327      39,489      68,700     200,717     537,298

Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table.





5. Statement of Condition of Each Federal Reserve Bank, November 20, 2019 (continued)
Millions of dollars
Assets, liabilities, and capital               Total       Boston     New York  Philadelphia Cleveland    Richmond    Atlanta     Chicago    St. Louis  Minneapolis    Kansas      Dallas       San     
                                                                                                                                                                        City                 Francisco  

Liabilities                                                                                                                                                                                             
  Federal Reserve notes outstanding            1,950,692      60,204     641,707      56,492      93,722     133,396     272,562     126,512      58,744      31,197      53,458     163,288     259,411
    Less: Notes held by F.R. Banks               213,019       6,512      55,962       9,107       9,422      15,788      30,595      13,610       5,824       3,445       7,664      20,972      34,118
      Federal Reserve notes, net               1,737,673      53,691     585,745      47,386      84,300     117,608     241,966     112,902      52,920      27,752      45,793     142,317     225,292
  Reverse repurchase agreements (11)             300,914       6,243     164,170       7,287       8,804      18,415      20,574      15,795       4,325       2,604       4,462      13,066      35,169
  Deposits                                     1,946,373      29,811   1,246,909      29,655      37,751     115,116      42,565      93,692       9,291       8,603      17,864      44,572     270,543
    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                           1,530,158      29,791     864,142      29,653      37,723     114,645      42,530      61,053       9,287       8,550      17,811      44,437     270,537
    U.S. Treasury, General Account               357,551           0     357,551           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
    Other (12)                                    53,481          18      20,060           0          25         462          33      32,638           4          52          53         135           1
  Deferred availability cash items                   128           0           0           0           0           0          42           0           0          86           0           0           0
  Earnings remittances due to the U.S.      
     Treasury (13)                                   949          16         521          25          32          58          82          46          14           7          11          44          93
  Other liabilities and accrued             
     dividends                                     5,313         196       2,175         204         226         591         357         339         155         159         173         257         480
                                                                                                                                                                                                        
Total liabilities                              3,991,349      89,957   1,999,521      84,557     131,113     251,787     305,587     222,775      66,705      39,210      68,304     200,256     531,577
                                                                                                                                                                                                        
Capital                                                                                                                                                                                                 
  Capital paid in                                 32,075       1,494      10,650       1,142       2,709       6,690       1,975       1,225         518         247         330         376       4,719
  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                  4,030,249      91,745   2,012,336      86,093     134,367     259,933     307,958     224,285      67,327      39,489      68,700     200,717     537,298

Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table.





5. Statement of Condition of Each Federal Reserve Bank, November 20, 2019 (continued)


1.  Includes securities lent to dealers under the overnight securities lending facility; refer to table 1A.                                                                                                 
2.  Face value of the securities.                                                                                                                                                                           
3.  Includes the original face value of inflation-indexed securities and compensation that adjusts for the effect of inflation on the original face value of such securities.                               
4.  Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. The current face value shown is the remaining principal balance of the securities.                                                               
5.  Reflects the premium or discount, which is the difference between the purchase price and the face value of the securities that has not been amortized. For U.S. Treasury securities, Federal agency     
    debt securities, and mortgage-backed securities, amortization is on an effective-interest basis.                                                                                                    
6.  Cash value of agreements, which are collateralized by U.S. Treasury and federal agency securities.                                                                                                      
7.  Refer to the note on consolidation below.                                                                                                                                                               
8.  Dollar value of foreign currency held under these agreements valued at the exchange rate to be used when the foreign currency is returned to the foreign central bank. This exchange rate equals        
    the market exchange rate used when the foreign currency was acquired from the foreign central bank.                                                                                                 
9.  Revalued daily at current foreign currency exchange rates.                                                                                                                                              
10. Includes accrued interest, which represents the daily accumulation of interest earned, and other accounts receivable.                                                                                   
11. Cash value of agreements, which are collateralized by U.S. Treasury securities, federal agency debt securities, and mortgage-backed securities.                                                         
12. Includes deposits held at the Reserve Banks by international and multilateral organizations, government-sponsored enterprises, designated financial market utilities, and deposits held by              
    depository institutions in joint accounts in connection with their participation in certain private-sector payment arrangements. Also includes certain deposit accounts other than the U.S. Treasury, General
    Account, for services provided by the Reserve Banks as fiscal agents of the United States.                                                                                                          
13. Represents the estimated weekly remittances due to U.S. Treasury. The amounts on this line represent the residual net earnings that the Federal Reserve Banks remit to the U.S. Treasury after          
    providing for the costs of operations, payment of dividends, and the amount necessary to maintain a $6.825 billion surplus.                                                                         
                                                                                                                                                                                                            


Note on consolidation:


On June 26, 2008, the Federal Reserve Bank of New York (FRBNY) extended a loan to Maiden Lane LLC (ML) under the authority of section 13(3) of the Federal Reserve Act. ML was formed to
acquire certain assets of Bear Stearns and to manage those assets through time to maximize repayment of the credit extended and minimize disruption to financial markets. On June 14, 2012, the
remaining outstanding balance of the senior loan from FRBNY to ML was repaid in full, with interest. On November 15, 2012, the remaining outstanding balance of the subordinated loan from JPMorgan
Chase & Co. to ML was repaid in full, with interest. FRBNY was the primary beneficiary of ML because it received any residual returns and could have absorbed any residual losses should they
have occurred. Consistent with generally accepted accounting principles, the assets and liabilities of ML were consolidated with the assets and liabilities of FRBNY in the preparation of the
statements of condition shown on this release. As a consequence of the consolidation, the extension of credit from FRBNY to ML was eliminated, the net assets of ML appeared as assets on the
previous page (and in table 1 and table 4), and the liabilities of ML to entities other than FRBNY, including those with recourse only to the ML portfolio holdings, were included in other
liabilities in this table (and table 1 and table 4).
                                                                                                                                        



6. Collateral Held against Federal Reserve Notes: Federal Reserve Agents' Accounts
Millions of dollars
Federal Reserve notes and collateral                                                        Wednesday   
                                                                                          Nov 20, 2019  

Federal Reserve notes outstanding                                                            1,950,692  
  Less: Notes held by F.R. Banks not subject to collateralization                              213,019  
    Federal Reserve notes to be collateralized                                               1,737,673  
Collateral held against Federal Reserve notes                                                1,737,673  
  Gold certificate account                                                                      11,037  
  Special drawing rights certificate account                                                     5,200  
  U.S. Treasury, agency debt, and mortgage-backed securities pledged (1,2)                   1,721,436  
  Other assets pledged                                                                               0  
Memo:                                                                                                   
Total U.S. Treasury, agency debt, and mortgage-backed securities (1,2)                       3,859,063  
  Less: Face value of securities under reverse repurchase agreements                           289,553  
    U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged        3,569,511  

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.