FEDERAL RESERVE statistical release

H.4.1

Factors Affecting Reserve Balances of Depository Institutions and     
Condition Statement of Federal Reserve Banks                                                 December 5, 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   Dec 4, 2019 
Federal Reserve Banks                                      Dec 4, 2019 Nov 27, 2019  Dec 5, 2018              

Reserve Bank credit                                         4,019,300   +   17,495   -   28,467    4,026,728  
  Securities held outright (1)                              3,676,548   +    9,351   -  221,657    3,685,925  
    U.S. Treasury securities                                2,250,477   +   17,067   +    8,151    2,259,853  
      Bills (2)                                               107,588   +   12,859   +  107,588      114,017  
      Notes and bonds, nominal (2)                          1,993,489   +    4,174   -  110,248    1,996,404  
      Notes and bonds, inflation-indexed (2)                  124,372            0   +    7,965      124,372  
      Inflation compensation (3)                               25,029   +       34   +    2,846       25,060  
    Federal agency debt securities (2)                          2,347            0   -       62        2,347  
    Mortgage-backed securities (4)                          1,423,724   -    7,716   -  229,746    1,423,725  
  Unamortized premiums on securities held outright (5)        125,559   -      350   -   16,035      125,541  
  Unamortized discounts on securities held outright (5)       -13,105   -       52   +      440      -13,131  
  Repurchase agreements (6)                                   210,197   +    8,228   +  210,178      208,007  
  Loans                                                            17   -        6   -       38            9  
    Primary credit                                                  3   -        1   -        2            1  
    Secondary credit                                                0            0            0            0  
    Seasonal credit                                                14   -        5   -       36            8  
    Other credit extensions                                         0            0            0            0  
  Net portfolio holdings of Maiden Lane LLC (7)                     0            0   -        7            0  
  Float                                                          -382   -      130   +      105         -455  
  Central bank liquidity swaps (8)                                 47            0   -      147           47  
  Other Federal Reserve assets (9)                             20,419   +      454   -    1,305       20,784  
Foreign currency denominated assets (10)                       20,599   +       46   -       27       20,604  
Gold stock                                                     11,041            0            0       11,041  
Special drawing rights certificate account                      5,200            0            0        5,200  
Treasury currency outstanding (11)                             50,120   +       14   +      375       50,120  
                                                                                                              
Total factors supplying reserve funds                       4,106,261   +   17,556   -   28,118    4,113,692  

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   Dec 4, 2019 
Federal Reserve Banks                                      Dec 4, 2019 Nov 27, 2019  Dec 5, 2018              

Currency in circulation (11)                                 1,793,256   +    5,393   +   88,807    1,793,762 
Reverse repurchase agreements (12)                             283,717   +      786   +   51,197      277,374 
  Foreign official and international accounts                  283,300   +    4,591   +   53,331      277,374 
  Others                                                           417   -    3,805   -    2,134            0 
Treasury cash holdings                                             186   +        3   -       17          190 
Deposits with F.R. Banks, other than reserve balances          410,763   -   35,661   -    3,474      403,670 
  Term deposits held by depository institutions                      0            0            0            0 
  U.S. Treasury, General Account                               346,971   -   13,970   +    9,407      338,453 
  Foreign official                                               5,183   +        2   -       88        5,181 
  Other (13)                                                    58,610   -   21,692   -   12,792       60,036 
Other liabilities and capital (14)                              45,078   +      471   +      249       44,977 
                                                                                                              
Total factors, other than reserve balances,               
    absorbing reserve funds                                  2,533,000   -   29,008   +  136,762    2,519,973 
                                                                                                              
Reserve balances with Federal Reserve Banks                  1,573,261   +   46,564   -  164,880    1,593,719 

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   Dec 4, 2019 
                                                           Dec 4, 2019 Nov 27, 2019  Dec 5, 2018              

Securities held in custody for foreign official and       
     international accounts                                  3,416,922   +    2,019   +   13,010    3,409,249 
  Marketable U.S. Treasury securities (1)                    2,967,714   +    3,863   -   61,208    2,960,241 
  Federal agency debt and mortgage-backed securities (2)       365,300   -    1,471   +   56,957      365,295 
  Other securities (3)                                          83,907   -      374   +   17,261       83,713 
Securities lent to dealers                                      30,914   +    1,437   +   11,925       33,343 
  Overnight facility (4)                                        30,914   +    1,437   +   11,925       33,343 
    U.S. Treasury securities                                    30,914   +    1,437   +   11,925       33,343 
    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, December 4, 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                                            4             5             0             0             0           ...             9 
U.S. Treasury securities (1)                                                                                                           
  Holdings                                   8,372       110,535       301,082       881,241       322,057       636,566     2,259,853 
  Weekly changes                        -    1,831    +   12,551    -    2,879    -    1,264    +    4,734    +       45    +   11,355 
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             1            14         1,179        75,681     1,346,851     1,423,725 
  Weekly changes                                 0    +        1    +        2    +      203    -      163    -       41    +        1 
Repurchase agreements (4)                  158,007        50,000           ...           ...           ...           ...       208,007 
Central bank liquidity swaps (5)                47             0             0             0             0             0            47 
                                                                                                                                       
Reverse repurchase agreements (4)          277,374             0           ...           ...           ...           ...       277,374 
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   
                                                                                                                       Dec 4, 2019  

Mortgage-backed securities held outright (1)                                                                             1,423,725  
                                                                                                                                    
Commitments to buy mortgage-backed securities (2)                                                                            9,568  
Commitments to sell mortgage-backed securities (2)                                                                              98  
                                                                                                                                    
Cash and cash equivalents (3)                                                                                                    2  



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        Dec 4, 2019   Wednesday    Wednesday  
                                                        consolidation                Nov 27, 2019  Dec 5, 2018 

Assets                                                                                                         
  Gold certificate account                                                   11,037            0            0  
  Special drawing rights certificate account                                  5,200            0            0  
  Coin                                                                        1,620   -        1   -       89  
  Securities, unamortized premiums and discounts,     
     repurchase agreements, and loans                                     4,006,350   +   11,971   -   18,137  
    Securities held outright (1)                                          3,685,925   +   11,356   -  210,505  
      U.S. Treasury securities                                            2,259,853   +   11,355   +   19,302  
        Bills (2)                                                           114,017   +    7,501   +  114,017  
        Notes and bonds, nominal (2)                                      1,996,404   +    3,802   -  105,392  
        Notes and bonds, inflation-indexed (2)                              124,372            0   +    7,827  
        Inflation compensation (3)                                           25,060   +       52   +    2,850  
      Federal agency debt securities (2)                                      2,347            0   -       62  
      Mortgage-backed securities (4)                                      1,423,725   +        1   -  229,745  
    Unamortized premiums on securities held outright  
    (5)                                                                     125,541   -       94   -   15,932  
    Unamortized discounts on securities held outright 
    (5)                                                                     -13,131   -       23   +      408  
    Repurchase agreements (6)                                               208,007   +      764   +  207,941  
    Loans                                                                         9   -       31   -       48  
  Net portfolio holdings of Maiden Lane LLC (7)                                   0            0   -        7  
  Items in process of collection                                   (0)           53   -       30   -        9  
  Bank premises                                                               2,191   -       14   -        1  
  Central bank liquidity swaps (8)                                               47            0   -      147  
  Foreign currency denominated assets (9)                                    20,604   +      111   -        7  
  Other assets (10)                                                          18,594   +      785   -    1,951  
                                                                                                               
Total assets                                                       (0)    4,065,696   +   12,821   -   20,348  

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        Dec 4, 2019   Wednesday    Wednesday  
                                                        consolidation                Nov 27, 2019  Dec 5, 2018 

Liabilities                                                                                                    
  Federal Reserve notes, net of F.R. Bank holdings                         1,745,447   +    1,429   +   87,209 
  Reverse repurchase agreements (11)                                         277,374   -    4,547   +   41,717 
  Deposits                                                          (0)    1,997,389   +   15,880   -  148,914 
    Term deposits held by depository institutions                                  0            0            0 
    Other deposits held by depository institutions                         1,593,719   +   34,000   -  142,588 
    U.S. Treasury, General Account                                           338,453   -   20,443   +    9,840 
    Foreign official                                                           5,181            0   -      176 
    Other (12)                                                      (0)       60,036   +    2,324   -   15,991 
  Deferred availability cash items                                  (0)          508   -      396            0 
  Other liabilities and accrued dividends (13)                                 6,078   +      455   -      130 
                                                                                                               
Total liabilities                                                   (0)    4,026,797   +   12,822   -   20,117 
                                                                                                               
Capital accounts                                                                                               
  Capital paid in                                                             32,074   -        1   -      231 
  Surplus                                                                      6,825            0            0 
  Other capital accounts                                                           0            0            0 
                                                                                                               
Total capital                                                                 38,899   -        1   -      231 

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, December 4, 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                                             1,620          39          43          147         107         213         151         273          31          45         109         183         279
  Securities, unamortized premiums and      
     discounts, repurchase agreements,      
     and loans                                 4,006,350      83,116   2,185,743       97,020     117,215     245,174     273,929     210,299      57,582      34,673      59,408     173,960     468,232
    Securities held outright (1)               3,685,925      76,469   2,010,933       89,261     107,841     225,565     252,018     193,479      52,976      31,895      54,656     160,047     430,784
      U.S. Treasury securities                 2,259,853      46,883   1,232,910       54,726      66,118     138,295     154,513     118,623      32,480      19,555      33,510      98,125     264,115
        Bills (2)                                114,017       2,365      62,204        2,761       3,336       6,977       7,796       5,985       1,639         987       1,691       4,951      13,325
        Notes and bonds (3)                    2,145,836      44,518   1,170,705       51,965      62,782     131,317     146,717     112,638      30,841      18,568      31,819      93,175     250,790
      Federal agency debt securities (2)           2,347          49       1,280           57          69         144         160         123          34          20          35         102         274
      Mortgage-backed securities (4)           1,423,725      29,537     776,743       34,478      41,655      87,127      97,344      74,733      20,463      12,320      21,112      61,820     166,395
    Unamortized premiums on securities held 
      outright (5)                               125,541       2,604      68,491        3,040       3,673       7,683       8,584       6,590       1,804       1,086       1,862       5,451      14,672
    Unamortized discounts on securities     
      held outright (5)                          -13,131        -272      -7,164         -318        -384        -804        -898        -689        -189        -114        -195        -570      -1,535
    Repurchase agreements (6)                    208,007       4,315     113,483        5,037       6,086      12,729      14,222      10,919       2,990       1,800       3,084       9,032      24,310
    Loans                                              9           0           0            0           0           0           3           0           0           5           0           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                      53           0           0            0           0           0          52           0           0           1           0           0           0
  Bank premises                                    2,191         106         454           89         117         190         203         193         102          94         228         224         190
  Central bank liquidity swaps (8)                    47           2          15            3           4          10           3           2           1           0           0           1           7
  Foreign currency denominated                                                                                                                                                                           
     assets (9)                                   20,604         887       6,540        1,190       1,645       4,393       1,198         860         314          98         199         255       3,024
  Other assets (10)                               18,594         399       9,681          442         549       1,338       1,250         947         475         213         343         820       2,136
  Interdistrict settlement account                     0  +    9,830  -  171,623   -   11,897  +   19,405  -      766  +   36,625  +   23,335  +    9,906  +    4,782  +    7,758  +   28,505  +   44,140
                                                                                                                                                                                                         
Total assets                                   4,065,696      94,927   2,036,378       87,531     139,810     251,717     315,626     237,044      68,888      40,181      68,490     205,120     519,984

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, December 4, 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            1,953,628      60,470     640,856      57,128      93,699     134,100     272,938     126,578      59,398      31,162      53,581     163,862     259,856
    Less: Notes held by F.R. Banks               208,180       6,251      55,558       8,772       8,940      16,368      29,220      13,013       5,418       3,322       7,295      20,156      33,868
      Federal Reserve notes, net               1,745,447      54,219     585,298      48,357      84,759     117,731     243,719     113,565      53,980      27,840      46,286     143,705     225,988
  Reverse repurchase agreements (11)             277,374       5,754     151,327       6,717       8,115      16,974      18,965      14,560       3,987       2,400       4,113      12,044      32,418
  Deposits                                     1,997,389      32,960   1,284,341      30,697      43,422     108,187      50,114     107,047      10,125       9,040      17,520      48,623     255,313
    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                           1,593,719      32,934     918,974      30,694      43,392     107,645      50,080      69,559      10,116       8,987      17,494      48,537     255,306
    U.S. Treasury, General Account               338,453           0     338,453           0           0           0           0           0           0           0           0           0           0
    Foreign official                               5,181           2       5,154           2           3           9           2           2           1           0           0           0           6
    Other (12)                                    60,036          24      21,761           0          27         534          32      37,486           8          52          26          85           1
  Deferred availability cash items                   508           0           0           0           0           0          49           0           0         459           0           0           0
  Earnings remittances due to the U.S.      
     Treasury (13)                                 1,314          22         692          36          44         113          99          62          24          11          15          56         139
  Other liabilities and accrued             
     dividends                                     4,764         182       1,905         190         215         566         308         302         151         152         159         231         405
                                                                                                                                                                                                        
Total liabilities                              4,026,797      93,138   2,023,563      85,996     136,556     243,572     313,254     235,535      68,266      39,901      68,093     204,659     514,263
                                                                                                                                                                                                        
Capital                                                                                                                                                                                                 
  Capital paid in                                 32,074       1,495      10,649       1,141       2,709       6,690       1,975       1,224         518         248         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                  4,065,696      94,927   2,036,378      87,531     139,810     251,717     315,626     237,044      68,888      40,181      68,490     205,120     519,984

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, December 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).
                                                                                                                                        



6. Collateral Held against Federal Reserve Notes: Federal Reserve Agents' Accounts
Millions of dollars
Federal Reserve notes and collateral                                                        Wednesday   
                                                                                           Dec 4, 2019  

Federal Reserve notes outstanding                                                            1,953,628  
  Less: Notes held by F.R. Banks not subject to collateralization                              208,180  
    Federal Reserve notes to be collateralized                                               1,745,447  
Collateral held against Federal Reserve notes                                                1,745,447  
  Gold certificate account                                                                      11,037  
  Special drawing rights certificate account                                                     5,200  
  U.S. Treasury, agency debt, and mortgage-backed securities pledged (1,2)                   1,729,210  
  Other assets pledged                                                                               0  
Memo:                                                                                                   
Total U.S. Treasury, agency debt, and mortgage-backed securities (1,2)                       3,893,932  
  Less: Face value of securities under reverse repurchase agreements                           270,646  
    U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged        3,623,286  

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.