FEDERAL RESERVE statistical release

H.4.1

Factors Affecting Reserve Balances of Depository Institutions and

Condition Statement of Federal Reserve Banks September 5, 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

Sep 4, 2019 Aug 28, 2019 Sep 5, 2018

Wednesday

Sep 4, 2019

Reserve Bank credit 3,721,962 - 1,849 - 447,347 3,722,202

Securities held outright1 3,587,092 - 2,455 - 427,152 3,587,116

U.S. Treasury securities 2,095,140 + 3,871 - 219,689 2,095,164

Bills2 3,001 0 + 2,901 3,001

Notes and bonds, nominal2 1,951,802 + 3,859 - 225,572 1,951,802

Notes and bonds, inflation-indexed2 116,545 0 + 1,107 116,545

Inflation compensation3 23,792 + 13 + 1,875 23,816

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

Mortgage-backed securities4 1,489,605 - 6,326 - 207,401 1,489,605

Unamortized premiums on securities held outright5 127,687 - 302 - 18,724 127,584

Unamortized discounts on securities held outright5 -12,926 + 77 + 864 -12,957

Repurchase agreements6 0 0 0 0

Loans 97 - 43 - 142 93

Primary credit 1 - 34 - 9 1

Secondary credit 0 0 0 0

Seasonal credit 97 - 8 - 132 92

Other credit extensions 0 0 0 0

Net portfolio holdings of Maiden Lane LLC7 0 0 - 1,719 0

Float -522 - 349 + 18 -513

Central bank liquidity swaps8 872 + 803 + 782 872

Other Federal Reserve assets9 19,661 + 418 - 1,275 20,007

Foreign currency denominated assets10 20,798 - 119 - 259 20,767

Gold stock 11,041 0 0 11,041

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

Treasury currency outstanding11 50,025 + 14 + 358 50,025

Total factors supplying reserve funds 3,809,026 - 1,954 - 447,248 3,809,235

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

Sep 4, 2019 Aug 28, 2019 Sep 5, 2018

Wednesday

Sep 4, 2019

Currency in circulation11 1,760,709 + 9,109 + 75,123 1,765,745

Reverse repurchase agreements12 301,701 + 12,838 + 65,022 302,626

Foreign official and international accounts 294,324 + 12,780 + 58,095 301,201

Others 7,377 + 58 + 6,927 1,425

Treasury cash holdings 158 - 2 - 53 163

Deposits with F.R. Banks, other than reserve balances 214,758 - 11,916 - 180,163 242,001

Term deposits held by depository institutions 0 - 1,668 0 0

U.S. Treasury, General Account 148,740 + 2,783 - 175,024 174,779

Foreign official 5,270 + 14 + 14 5,255

Other13 60,749 - 13,044 - 5,152 61,966

Other liabilities and capital14 44,145 - 858 + 279 44,247

Total factors, other than reserve balances,

absorbing reserve funds 2,321,471 + 9,171 - 39,793 2,354,781

Reserve balances with Federal Reserve Banks 1,487,555 - 11,125 - 407,455 1,454,454

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

Sep 4, 2019 Aug 28, 2019 Sep 5, 2018

Wednesday

Sep 4, 2019

Securities held in custody for foreign official and international

accounts 3,451,011 - 24,348 + 22,163 3,451,827

Marketable U.S. Treasury securities1 3,010,382 - 23,887 - 49,892 3,011,160

Federal agency debt and mortgage-backed securities2 359,925 - 84 + 61,367 359,932

Other securities3 80,704 - 378 + 10,688 80,735

Securities lent to dealers 28,151 + 1,391 + 10,863 32,250

Overnight facility4 28,151 + 1,391 + 10,863 32,250

U.S. Treasury securities 28,151 + 1,391 + 10,863 32,250

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, September 4, 2019

Millions of dollars

Remaining Maturity Within 15

days

16 days to

90 days

91 days to

1 year

Over 1 year

to 5 years

Over 5 year

to 10 years

Over 10

years

All

Loans 27 67 0 0 0 ... 93

U.S. Treasury securities1

Holdings 50 78,951 265,484 836,987 295,006 618,685 2,095,164

Weekly changes - 14,624 + 8,348 - 3,000 + 6,002 + 3,294 + 13 + 34

Federal agency debt securities2

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

Weekly changes 0 0 0 0 0 0 0

Mortgage-backed securities3

Holdings 0 0 9 614 77,602 1,411,381 1,489,605

Weekly changes 0 0 + 2 + 174 + 379 - 554 0

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

Central bank liquidity swaps5 872 0 0 0 0 0 872

Reverse repurchase agreements4 302,626 0 ... ... ... ... 302,626

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 Sep 4, 2019

Mortgage-backed securities held outright1 1,489,605

Commitments to buy mortgage-backed securities2 4,692

Commitments to sell mortgage-backed securities2 0

Cash and cash equivalents3 6

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

Sep 4, 2019 Aug 28, 2019 Sep 5, 2018

Assets

Gold certificate account 11,037 0 0

Special drawing rights certificate account 5,200 0 0

Coin 1,702 - 20 - 53

Securities, unamortized premiums and discounts,

repurchase agreements, and loans 3,701,836 - 238 - 443,533

Securities held outright1 3,587,116 + 34 - 425,501

U.S. Treasury securities 2,095,164 + 34 - 218,038

Bills2 3,001 0 + 2,901

Notes and bonds, nominal2 1,951,802 0 - 223,800

Notes and bonds, inflation-indexed2 116,545 0 + 966

Inflation compensation3 23,816 + 34 + 1,895

Federal agency debt securities2 2,347 0 - 62

Mortgage-backed securities4 1,489,605 0 - 207,401

Unamortized premiums on securities held outright5 127,584 - 221 - 18,684

Unamortized discounts on securities held outright5 -12,957 - 34 + 819

Repurchase agreements6 0 0 0

Loans 93 - 17 - 168

Net portfolio holdings of Maiden Lane LLC7 0 0 - 1,719

Items in process of collection (0) 87 + 38 - 101

Bank premises 2,184 - 7 + 5

Central bank liquidity swaps8 872 + 803 + 782

Foreign currency denominated assets9 20,767 - 101 - 267

Other assets10 17,823 + 1,087 - 2,101

Total assets (0) 3,761,508 + 1,562 - 446,988

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

Sep 4, 2019 Aug 28, 2019 Sep 5, 2018

Liabilities

Federal Reserve notes, net of F.R. Bank holdings 1,717,581 + 10,786 + 76,736

Reverse repurchase agreements11 302,626 + 15,906 + 72,974

Deposits (0) 1,696,454 - 24,691 - 596,826

Term deposits held by depository institutions 0 - 1,668 0

Other deposits held by depository institutions 1,454,454 - 49,790 - 443,447

U.S. Treasury, General Account 174,779 + 24,633 - 149,658

Foreign official 5,255 - 2 - 1

Other12 (0) 61,966 + 2,135 - 3,720

Deferred availability cash items (0) 600 + 232 - 89

Other liabilities and accrued dividends13 4,997 - 622 - 51

Total liabilities (0) 3,722,258 + 1,611 - 447,256

Capital accounts

Capital paid in 32,425 - 49 + 268

Surplus 6,825 0 0

Other capital accounts 0 0 0

Total capital 39,250 - 49 + 268

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, September 4, 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 1,702 43 51 153 108 216 177 277 34 46 112 198 287

Securities, unamortized premiums and

discounts, repurchase agreements,

and loans 3,701,836 76,797 2,019,563 89,644 108,304 226,533 253,106 194,311 53,226 32,087 54,893 160,737 432,637

Securities held outright1 3,587,116 74,419 1,957,026 86,868 104,950 219,519 245,262 188,293 51,556 31,040 53,191 155,757 419,236

U.S. Treasury securities 2,095,164 43,467 1,143,060 50,738 61,299 128,217 143,253 109,978 30,113 18,130 31,068 90,974 244,868

Bills2 3,001 62 1,637 73 88 184 205 158 43 26 44 130 351

Notes and bonds3 2,092,163 43,404 1,141,423 50,665 61,211 128,033 143,048 109,820 30,070 18,104 31,023 90,844 244,517

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

Mortgage-backed securities4 1,489,605 30,904 812,685 36,073 43,582 91,159 101,849 78,191 21,410 12,890 22,088 64,680 174,094

Unamortized premiums on securities 

held outright5 127,584 2,647 69,606 3,090 3,733 7,808 8,723 6,697 1,834 1,104 1,892 5,540 14,911

Unamortized discounts on securities 

held outright5 -12,957 -269 -7,069 -314 -379 -793 -886 -680 -186 -112 -192 -563 -1,514

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

Loans 93 0 0 0 0 0 6 1 22 55 2 3 4

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 87 0 0 0 0 0 86 0 0 1 0 0 0

Bank premises 2,184 106 456 81 116 191 205 191 103 94 228 222 190

Central bank liquidity swaps8 872 38 277 50 70 186 51 36 13 4 8 11 128

Foreign currency denominated

assets9 20,767 894 6,592 1,200 1,658 4,428 1,208 867 317 99 201 257 3,048

Other assets10 17,823 384 9,245 425 527 1,302 1,197 904 468 214 331 779 2,047

Interdistrict settlement account 0 + 9,463 - 251,978 - 7,238 + 9,555 + 25,136 + 48,514 + 29,564 + 10,495 + 7,949 + 8,521 + 32,994 + 77,023

Total assets 3,761,508 88,272 1,789,730 84,853 121,105 259,158 306,757 227,285 65,133 40,770 64,740 196,369 517,334

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, September 4, 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 1,913,501 57,482 635,580 55,059 90,801 131,460 265,448 124,488 56,218 31,271 50,335 159,277 256,082

Less: Notes held by F.R. Banks 195,920 6,385 46,786 8,902 9,605 15,647 24,976 14,022 6,172 3,348 8,155 20,024 31,897

Federal Reserve notes, net 1,717,581 51,096 588,793 46,156 81,196 115,813 240,472 110,465 50,046 27,923 42,181 139,253 224,185

Reverse repurchase agreements11 302,626 6,278 165,104 7,329 8,854 18,520 20,691 15,885 4,350 2,619 4,487 13,140 35,369

Deposits 1,696,454 28,933 1,020,541 29,650 27,599 116,132 42,797 99,118 9,963 9,316 17,523 43,225 251,656

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 1,454,454 28,922 822,868 29,648 27,573 115,547 42,763 55,695 9,960 9,259 17,502 43,067 251,650

U.S. Treasury, General Account 174,779 0 174,779 0 0 0 0 0 0 0 0 0 0

Foreign official 5,255 2 5,228 2 3 9 2 2 1 0 0 0 6

Other12 61,966 9 17,666 1 23 577 32 43,421 3 57 21 157 0

Deferred availability cash items 600 0 0 0 0 0 96 0 0 504 0 0 0

Earnings remittances due to the U.S.

Treasury13 948 17 524 21 27 31 101 49 22 10 12 52 82

Other liabilities and accrued

dividends 4,049 159 1,553 168 181 491 284 263 139 141 142 210 317

Total liabilities 3,722,258 86,484 1,776,516 83,325 117,858 250,987 304,441 225,780 64,520 40,513 64,346 195,880 511,609

Capital

Capital paid in 32,425 1,494 11,049 1,134 2,703 6,716 1,919 1,220 510 225 328 405 4,723

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

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

Total liabilities and capital 3,761,508 88,272 1,789,730 84,853 121,105 259,158 306,757 227,285 65,133 40,770 64,740 196,369 517,334

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, September 4, 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 Sep 4, 2019

Federal Reserve notes outstanding 1,913,501

Less: Notes held by F.R. Banks not subject to collateralization 195,920

Federal Reserve notes to be collateralized 1,717,581

Collateral held against Federal Reserve notes 1,717,581

Gold certificate account 11,037

Special drawing rights certificate account 5,200

U.S. Treasury, agency debt, and mortgage-backed securities pledged1,2 1,701,344

Other assets pledged 0

Memo:

Total U.S. Treasury, agency debt, and mortgage-backed securities1,2 3,587,116

Less: Face value of securities under reverse repurchase agreements 279,846

U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 3,307,270

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.