FEDERAL RESERVE statistical release

H.4.1

Factors Affecting Reserve Balances of Depository Institutions and

Condition Statement of Federal Reserve Banks April 7, 2016

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 6, 2016 Mar 30, 2016 Apr 8, 2015

Wednesday

Apr 6, 2016

Reserve Bank credit 4,443,595 - 992 - 822 4,444,396

Securities held outright1 4,243,680 - 1,377 + 15,222 4,243,689

U.S. Treasury securities 2,461,336 + 26 + 1,685 2,461,345

Bills2 0 0 0 0

Notes and bonds, nominal2 2,341,898 - 2,620 - 4,811 2,341,898

Notes and bonds, inflation-indexed2 103,501 + 2,621 + 5,032 103,501

Inflation compensation3 15,937 + 25 + 1,464 15,946

Federal agency debt securities2 29,257 0 - 7,620 29,257

Mortgage-backed securities4 1,753,087 - 1,403 + 21,157 1,753,087

Unamortized premiums on securities held outright5 185,405 - 458 - 16,934 185,271

Unamortized discounts on securities held outright5 -16,361 - 47 + 1,573 -16,349

Repurchase agreements6 0 0 0 0

Loans 34 - 2 - 26 37

Primary credit 7 - 16 - 35 0

Secondary credit 0 0 0 0

Seasonal credit 27 + 13 + 9 37

Other credit extensions 0 0 0 0

Net portfolio holdings of Maiden Lane LLC7 1,722 0 + 31 1,722

Float -276 + 124 + 211 -379

Central bank liquidity swaps8 146 + 98 + 146 146

Other Federal Reserve assets9 29,245 + 670 - 1,045 30,260

Foreign currency denominated assets10 20,852 + 343 + 1,044 21,015

Gold stock 11,041 0 0 11,041

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

Treasury currency outstanding11 47,742 + 14 + 1,046 47,742

Total factors supplying reserve funds 4,528,430 - 635 + 1,269 4,529,394

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 6, 2016 Mar 30, 2016 Apr 8, 2015

Wednesday

Apr 6, 2016

Currency in circulation11 1,443,949 + 2,660 + 82,693 1,445,716

Reverse repurchase agreements12 342,215 + 38,006 + 58,502 268,507

Foreign official and international accounts 240,969 + 5,203 + 93,394 241,052

Others 101,246 + 32,803 - 34,892 27,455

Treasury cash holdings 211 - 6 - 32 198

Deposits with F.R. Banks, other than reserve balances 302,651 - 24,614 + 230,937 301,010

Term deposits held by depository institutions 0 0 0 0

U.S. Treasury, General Account 264,323 - 20,337 + 209,117 263,537

Foreign official 5,174 - 36 - 56 5,173

Other13 33,154 - 4,241 + 21,877 32,301

Other liabilities and capital14 47,428 - 241 - 18,310 46,872

Total factors, other than reserve balances,

absorbing reserve funds 2,136,454 + 15,805 + 353,790 2,062,304

Reserve balances with Federal Reserve Banks 2,391,977 - 16,440 - 352,520 2,467,091

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 and Federal agency debt securities, amortization is on a straight-line basis. For mortgage-backed securities,

amortization is on an effective-interest basis.

6. Cash value of agreements.

7. Refer to table 4 and the note on consolidation accompanying table 6.

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, and designated

financial market utilities.

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 6, 2016 Mar 30, 2016 Apr 8, 2015

Wednesday

Apr 6, 2016

Securities held in custody for foreign official and international

accounts 3,257,566 - 2,876 - 32,194 3,248,774

Marketable U.S. Treasury securities1 2,942,833 - 3,833 - 18,706 2,933,742

Federal agency debt and mortgage-backed securities2 266,566 + 680 - 18,042 266,803

Other securities3 48,167 + 277 + 4,553 48,228

Securities lent to dealers 22,895 + 242 + 11,717 19,347

Overnight facility4 22,895 + 242 + 11,717 19,347

U.S. Treasury securities 22,842 + 232 + 12,038 19,302

Federal agency debt securities 53 + 11 - 320 45

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, 5, and 6.

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 6, 2016

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 0 37 0 0 0 ... 37

U.S. Treasury securities1

Holdings 394 80,207 117,586 1,156,730 474,170 632,257 2,461,345

Weekly changes - 23,193 + 13,173 - 6 + 740 + 9,288 + 16 + 19

Federal agency debt securities2

Holdings 2,161 2,000 11,767 10,982 0 2,347 29,257

Weekly changes + 2,161 - 2,161 0 0 0 0 0

Mortgage-backed securities3

Holdings 0 0 0 858 8,752 1,743,477 1,753,087

Weekly changes 0 0 0 + 102 - 94 - 4 + 5

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

Central bank liquidity swaps5 146 0 0 0 0 0 146

Reverse repurchase agreements4 268,507 0 ... ... ... ... 268,507

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 6, 2016

Mortgage-backed securities held outright1 1,753,087

Commitments to buy mortgage-backed securities2 26,886

Commitments to sell mortgage-backed securities2 0

Cash and cash equivalents3 7

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 5 and table 6.

4. Information on Principal Accounts of Maiden Lane LLC

Millions of dollars

Wednesday Account name Apr 6, 2016

Net portfolio holdings of Maiden Lane LLC1 1,722

Outstanding principal amount of loan extended by the Federal Reserve Bank of New York2 0

Accrued interest payable to the Federal Reserve Bank of New York2 0

Outstanding principal amount and accrued interest on loan payable to JPMorgan Chase & Co.3 0

1. Fair value. Fair value reflects an estimate of the price that would be received upon selling an asset if the transaction were to be conducted in an

orderly market on the measurement date. Revalued quarterly. This table reflects valuations as of December 31, 2015. Any assets purchased after

this valuation date are initially recorded at cost until their estimated fair value as of the purchase date becomes available.

2. Book value. This amount was eliminated when preparing the Federal Reserve Bank of New York’s statement of condition consistent with

consolidation under generally accepted accounting principles. Refer to the note on consolidation accompanying table 6.

3. Book value. The fair value of these obligations is included in other liabilities and capital in table 1 and in other liabilities and accrued dividends in

table 5 and table 6.

Note: On June 26, 2008, the Federal Reserve Bank of New York (FRBNY) extended credit to Maiden Lane LLC under the authority of section 13(3) of

the Federal Reserve Act. This limited liability company was formed to acquire certain assets of Bear Stearns and to manage those assets through time

to maximize repayment of the credit extended and to minimize disruption to financial markets. The remaining outstanding balances of the senior loan

from FRBNY to Maiden Lane LLC, and the subordinated loan from JPMorgan Chase & Co. to Maiden Lane LLC were repaid in full, with interest.
H.4.1

5. 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 6, 2016 Mar 30, 2016 Apr 8, 2015

Assets

Gold certificate account 11,037 0 0

Special drawing rights certificate account 5,200 0 0

Coin 1,873 - 3 + 43

Securities, unamortized premiums and discounts,

repurchase agreements, and loans 4,412,648 - 305 - 203

Securities held outright1 4,243,689 + 23 + 15,189

U.S. Treasury securities 2,461,345 + 19 + 1,652

Bills2 0 0 0

Notes and bonds, nominal2 2,341,898 - 2,620 - 4,811

Notes and bonds, inflation-indexed2 103,501 + 2,621 + 5,032

Inflation compensation3 15,946 + 18 + 1,431

Federal agency debt securities2 29,257 0 - 7,620

Mortgage-backed securities4 1,753,087 + 5 + 21,157

Unamortized premiums on securities held outright5 185,271 - 286 - 16,971

Unamortized discounts on securities held outright5 -16,349 - 48 + 1,574

Repurchase agreements6 0 0 0

Loans 37 + 5 + 5

Net portfolio holdings of Maiden Lane LLC7 1,722 0 + 31

Items in process of collection (0) 168 + 26 + 70

Bank premises 2,220 - 6 - 22

Central bank liquidity swaps8 146 + 98 + 146

Foreign currency denominated assets9 21,015 + 334 + 1,423

Other assets10 28,041 + 1,085 - 837

Total assets (0) 4,484,069 + 1,229 + 650

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

5. 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 6, 2016 Mar 30, 2016 Apr 8, 2015

Liabilities

Federal Reserve notes, net of F.R. Bank holdings 1,400,041 + 2,399 + 81,334

Reverse repurchase agreements11 268,507 - 101,181 + 24,015

Deposits (0) 2,768,102 + 100,881 - 86,386

Term deposits held by depository institutions 0 0 0

Other deposits held by depository institutions 2,467,091 + 131,005 - 325,821

U.S. Treasury, General Account 263,537 - 28,375 + 219,283

Foreign official 5,173 + 1 - 57

Other12 (0) 32,301 - 1,749 + 20,208

Deferred availability cash items (0) 547 - 843 - 36

Other liabilities and accrued dividends13 6,813 - 10 - 657

Total liabilities (0) 4,444,010 + 1,247 + 18,269

Capital accounts

Capital paid in 30,059 - 18 + 1,220

Surplus 10,000 0 - 18,839

Other capital accounts 0 0 0

Total capital 40,059 - 18 - 17,619

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 and Federal agency debt securities, amortization is on a straight-line basis. For 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 table 4 and the note on consolidation accompanying table 6.

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, and designated

financial market utilities.

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

6. Statement of Condition of Each Federal Reserve Bank, April 6, 2016

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 11,037 347 3,709 340 505 783 1,600 734 299 171 288 891 1,370

Special drawing rights certificate acct. 5,200 196 1,818 210 237 412 654 424 150 90 153 282 574

Coin 1,873 51 83 129 137 298 177 278 26 57 152 182 303

Securities, unamortized premiums and

discounts, repurchase agreements,

and loans 4,412,648 111,857 2,648,943 109,749 106,090 239,665 248,483 163,958 46,026 26,844 57,331 142,145 511,556

Securities held outright1 4,243,689 107,575 2,547,537 105,548 102,028 230,490 238,971 157,672 44,255 25,808 55,128 136,703 491,973

U.S. Treasury securities 2,461,345 62,394 1,477,575 61,218 59,177 133,684 138,603 91,450 25,668 14,969 31,974 79,288 285,345

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

Notes and bonds3 2,461,345 62,394 1,477,575 61,218 59,177 133,684 138,603 91,450 25,668 14,969 31,974 79,288 285,345

Federal agency debt securities2 29,257 742 17,563 728 703 1,589 1,648 1,087 305 178 380 942 3,392

Mortgage-backed securities4 1,753,087 44,440 1,052,399 43,602 42,148 95,216 98,720 65,135 18,282 10,662 22,774 56,473 203,236

Unamortized premiums on securities 

held outright5 185,271 4,697 111,220 4,608 4,454 10,063 10,433 6,884 1,932 1,127 2,407 5,968 21,479

Unamortized discounts on securities 

held outright5 -16,349 -414 -9,815 -407 -393 -888 -921 -607 -170 -99 -212 -527 -1,895

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

Loans 37 0 0 0 0 0 0 10 10 8 9 0 0

Net portfolio holdings of Maiden

Lane LLC7 1,722 0 1,722 0 0 0 0 0 0 0 0 0 0

Items in process of collection 168 0 0 0 0 0 166 0 0 0 0 0 0

Bank premises 2,220 122 431 74 105 209 206 202 116 91 241 225 198

Central bank liquidity swaps8 146 6 48 8 11 33 8 4 1 1 1 2 22

Foreign currency denominated

assets9 21,015 929 6,936 1,156 1,600 4,686 1,167 563 216 90 210 266 3,197

Other assets10 28,041 749 16,306 706 688 1,708 1,604 1,062 381 200 413 943 3,280

Interdistrict settlement account 0 - 34,014 - 211,446 + 12,546 + 25,457 + 44,184 + 9,700 + 15,113 + 13,150 + 6,651 + 3,935 + 29,460 + 85,264

Total assets 4,484,069 80,243 2,468,550 124,918 134,830 291,977 263,765 182,339 60,367 34,195 62,724 174,396 605,763

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

6. Statement of Condition of Each Federal Reserve Bank, April 6, 2016 (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 1,567,605 49,206 497,834 49,241 81,821 108,499 222,681 105,684 50,780 27,167 40,051 130,296 204,345

Less: Notes held by F.R. Banks 167,564 5,210 58,249 5,646 8,741 11,164 22,632 10,209 4,762 2,414 4,660 12,358 21,519

Federal Reserve notes, net 1,400,041 43,997 439,585 43,595 73,080 97,335 200,049 95,475 46,018 24,754 35,390 117,938 182,826

Reverse repurchase agreements11 268,507 6,807 161,188 6,678 6,456 14,584 15,120 9,976 2,800 1,633 3,488 8,649 31,128

Deposits 2,768,102 27,481 1,851,223 72,249 52,031 170,597 45,838 75,070 10,977 7,067 23,313 47,045 385,211

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 2,467,091 27,476 1,557,500 72,247 52,028 170,311 45,829 68,111 10,968 7,067 23,312 47,043 385,200

U.S. Treasury, General Account 263,537 0 263,537 0 0 0 0 0 0 0 0 0 0

Foreign official 5,173 2 5,146 2 3 9 2 1 0 0 0 1 6

Other12 32,301 3 25,040 0 0 277 7 6,958 9 0 1 1 5

Deferred availability cash items 547 0 0 0 0 0 116 0 0 431 0 0 0

Earnings remittances due to the U.S.

Treasury13 2,327 72 1,295 65 75 190 144 81 30 12 25 66 271

Other liabilities and accrued

dividends 4,487 140 2,139 174 175 466 291 233 128 129 112 188 312

Total liabilities 4,444,010 78,497 2,455,429 122,762 131,817 283,172 261,558 180,834 59,952 34,025 62,329 173,887 599,748

Capital

Capital paid in 30,059 1,305 9,822 1,606 2,252 6,575 1,652 1,237 312 127 295 383 4,494

Surplus 10,000 442 3,299 550 762 2,230 555 268 103 43 100 127 1,521

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

Total liabilities and capital 4,484,069 80,243 2,468,550 124,918 134,830 291,977 263,765 182,339 60,367 34,195 62,724 174,396 605,763

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

6. Statement of Condition of Each Federal Reserve Bank, April 6, 2016 (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 and Federal

agency debt securities, amortization is on a straight-line basis. For 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 table 4 and 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, and designated financial market utilities.

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 $10 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. 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 5), 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 5).
H.4.1

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

Millions of dollars

Wednesday Federal Reserve notes and collateral Apr 6, 2016

Federal Reserve notes outstanding 1,567,605

Less: Notes held by F.R. Banks not subject to collateralization 167,564

Federal Reserve notes to be collateralized 1,400,041

Collateral held against Federal Reserve notes 1,400,041

Gold certificate account 11,037

Special drawing rights certificate account 5,200

U.S. Treasury, agency debt, and mortgage-backed securities pledged1,2 1,383,804

Other assets pledged 0

Memo:

Total U.S. Treasury, agency debt, and mortgage-backed securities1,2 4,243,689

Less: Face value of securities under reverse repurchase agreements 249,407

U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 3,994,282

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.