FEDERAL RESERVE statistical release

H.4.1

Factors Affecting Reserve Balances of Depository Institutions and     
Condition Statement of Federal Reserve Banks                                                  August 22, 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  Aug 21, 2019 
Federal Reserve Banks                                     Aug 21, 2019 Aug 14, 2019 Aug 22, 2018              

Reserve Bank credit                                         3,727,154   -   17,240   -  462,705    3,725,869  
  Securities held outright (1)                              3,593,144   -    2,373   -  441,058    3,591,937  
    U.S. Treasury securities                                2,085,859   +    5,151   -  238,649    2,088,920  
      Bills (2)                                                 3,001   +    3,001   +    2,915        3,001  
      Notes and bonds, nominal (2)                          1,942,540   +    2,144   -  245,466    1,945,599  
      Notes and bonds, inflation-indexed (2)                  116,545            0   +    1,953      116,545  
      Inflation compensation (3)                               23,773   +        6   +    1,949       23,775  
    Federal agency debt securities (2)                          2,347            0   -       62        2,347  
    Mortgage-backed securities (4)                          1,504,938   -    7,524   -  202,347    1,500,670  
  Unamortized premiums on securities held outright (5)        128,476   -      472   -   18,752      128,243  
  Unamortized discounts on securities held outright (5)       -13,054   -      337   +      772      -13,046  
  Repurchase agreements (6)                                         0            0            0            0  
  Loans                                                           132   +       33   -      153          179  
    Primary credit                                                 34   +       33   -        2           75  
    Secondary credit                                                0            0            0            0  
    Seasonal credit                                                98            0   -      150          104  
    Other credit extensions                                         0            0            0            0  
  Net portfolio holdings of Maiden Lane LLC (7)                     0            0   -    1,719            0  
  Float                                                          -121   +        6   +       46         -154  
  Central bank liquidity swaps (8)                                 43   -        2   -       25           43  
  Other Federal Reserve assets (9)                             18,534   -   14,094   -    1,816       18,667  
Foreign currency denominated assets (10)                       20,839   -      174   -       88       20,829  
Gold stock                                                     11,041            0            0       11,041  
Special drawing rights certificate account                      5,200            0            0        5,200  
Treasury currency outstanding (11)                             50,028   +       14   +      369       50,028  
                                                                                                              
Total factors supplying reserve funds                       3,814,263   -   17,399   -  462,423    3,812,967  

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  Aug 21, 2019 
Federal Reserve Banks                                     Aug 21, 2019 Aug 14, 2019 Aug 22, 2018              

Currency in circulation (11)                                 1,749,247   +    1,518   +   75,575    1,751,265 
Reverse repurchase agreements (12)                             310,767   +   23,140   +   61,757      301,218 
  Foreign official and international accounts                  298,827   +   14,684   +   52,220      286,065 
  Others                                                        11,939   +    8,455   +    9,536       15,153 
Treasury cash holdings                                             171   +        3   -       48          160 
Deposits with F.R. Banks, other than reserve balances          193,652   -    6,459   -  232,361      198,466 
  Term deposits held by depository institutions                      0            0            0            0 
  U.S. Treasury, General Account                               125,725   -    4,232   -  222,668      131,447 
  Foreign official                                               5,256   +        1   -       18        5,256 
  Other (13)                                                    62,671   -    2,228   -    9,675       61,763 
Other liabilities and capital (14)                              44,381   -    1,239   -      138       44,038 
                                                                                                              
Total factors, other than reserve balances,               
    absorbing reserve funds                                  2,298,218   +   16,962   -   95,214    2,295,147 
                                                                                                              
Reserve balances with Federal Reserve Banks                  1,516,045   -   34,361   -  367,209    1,517,820 

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  Aug 21, 2019 
                                                          Aug 21, 2019 Aug 14, 2019 Aug 22, 2018              

Securities held in custody for foreign official and       
     international accounts                                  3,471,346   +    3,548   +   41,503    3,469,762 
  Marketable U.S. Treasury securities (1)                    3,033,438   +    4,293   -   25,769    3,030,813 
  Federal agency debt and mortgage-backed securities (2)       357,378   -      368   +   57,723      358,293 
  Other securities (3)                                          80,530   -      377   +    9,548       80,656 
Securities lent to dealers                                      25,395   -    3,654   +   11,184       21,407 
  Overnight facility (4)                                        25,395   -    3,654   +   11,184       21,407 
    U.S. Treasury securities                                    25,395   -    3,654   +   11,184       21,407 
    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, August 21, 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                                          154            25             0             0             0           ...           179 
U.S. Treasury securities (1)                                                                                                           
  Holdings                                  14,674        70,603       268,484       826,882       289,608       618,670     2,088,920 
  Weekly changes                        -   40,140    +   27,262    +   17,249    -   26,182    +   23,874    +    6,149    +    8,210 
Federal agency debt securities (2)                                                                                                     
  Holdings                                       0             0             0             0           486         1,861         2,347 
  Weekly changes                                 0             0             0             0             0             0             0 
Mortgage-backed securities (3)                                                                                                         
  Holdings                                       0             0             8           452        78,320     1,421,889     1,500,670 
  Weekly changes                                 0             0             0    +       40    -      524    -   13,021    -   13,504 
Repurchase agreements (4)                        0             0           ...           ...           ...           ...             0 
Central bank liquidity swaps (5)                43             0             0             0             0             0            43 
                                                                                                                                       
Reverse repurchase agreements (4)          301,218             0           ...           ...           ...           ...       301,218 
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   
                                                                                                                      Aug 21, 2019  

Mortgage-backed securities held outright (1)                                                                             1,500,670  
                                                                                                                                    
Commitments to buy mortgage-backed securities (2)                                                                            2,802  
Commitments to sell mortgage-backed securities (2)                                                                               0  
                                                                                                                                    
Cash and cash equivalents (3)                                                                                                    1  



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       Aug 21, 2019   Wednesday    Wednesday  
                                                        consolidation                Aug 14, 2019 Aug 22, 2018 

Assets                                                                                                         
  Gold certificate account                                                   11,037            0            0  
  Special drawing rights certificate account                                  5,200            0            0  
  Coin                                                                        1,724   +        9   -       67  
  Securities, unamortized premiums and discounts,     
     repurchase agreements, and loans                                     3,707,313   -    6,200   -  459,904  
    Securities held outright (1)                                          3,591,937   -    5,294   -  441,743  
      U.S. Treasury securities                                            2,088,920   +    8,210   -  235,620  
        Bills (2)                                                             3,001   +    3,001   +    2,901  
        Notes and bonds, nominal (2)                                      1,945,599   +    5,203   -  242,407  
        Notes and bonds, inflation-indexed (2)                              116,545            0   +    1,953  
        Inflation compensation (3)                                           23,775   +        6   +    1,933  
      Federal agency debt securities (2)                                      2,347            0   -       62  
      Mortgage-backed securities (4)                                      1,500,670   -   13,504   -  206,061  
    Unamortized premiums on securities held outright  
    (5)                                                                     128,243   -      645   -   18,825  
    Unamortized discounts on securities held outright 
    (5)                                                                     -13,046   -      340   +      769  
    Repurchase agreements (6)                                                     0            0            0  
    Loans                                                                       179   +       79   -      106  
  Net portfolio holdings of Maiden Lane LLC (7)                                   0            0   -    1,720  
  Items in process of collection                                   (0)           53   -        6   -        1  
  Bank premises                                                               2,191   +        5   +        8  
  Central bank liquidity swaps (8)                                               43   -        2   -       25  
  Foreign currency denominated assets (9)                                    20,829   -      111   -      251  
  Other assets (10)                                                          16,477   -   14,846   -    1,991  
                                                                                                               
Total assets                                                       (0)    3,764,866   -   21,152   -  463,952  

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       Aug 21, 2019   Wednesday    Wednesday  
                                                        consolidation                Aug 14, 2019 Aug 22, 2018 

Liabilities                                                                                                    
  Federal Reserve notes, net of F.R. Bank holdings                         1,703,116   +    1,756   +   75,726 
  Reverse repurchase agreements (11)                                         301,218   +    2,677   +   57,014 
  Deposits                                                          (0)    1,716,286   -   24,434   -  596,085 
    Term deposits held by depository institutions                                  0            0            0 
    Other deposits held by depository institutions                         1,517,820   +    6,556   -  384,965 
    U.S. Treasury, General Account                                           131,447   +      466   -  203,545 
    Foreign official                                                           5,256   +        1            0 
    Other (12)                                                      (0)       61,763   -   31,457   -    7,575 
  Deferred availability cash items                                  (0)          207   -       27   -       71 
  Other liabilities and accrued dividends (13)                                 4,744   -    1,138   -      809 
                                                                                                               
Total liabilities                                                   (0)    3,725,572   -   21,165   -  464,224 
                                                                                                               
Capital accounts                                                                                               
  Capital paid in                                                             32,469   +       13   +      273 
  Surplus                                                                      6,825            0            0 
  Other capital accounts                                                           0            0            0 
                                                                                                               
Total capital                                                                 39,294   +       13   +      273 

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, August 21, 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                                             1,724          43          47          153         111         219         189         278          35          47         114         200         288
  Securities, unamortized premiums and      
     discounts, repurchase agreements,      
     and loans                                 3,707,313      76,909   2,022,504       89,774     108,461     226,870     253,526     194,596      53,307      32,143      54,974     160,981     433,269
    Securities held outright (1)               3,591,937      74,519   1,959,656       86,984     105,091     219,814     245,592     188,546      51,626      31,082      53,263     155,966     419,800
      U.S. Treasury securities                 2,088,920      43,337   1,139,654       50,587      61,117     127,834     142,826     109,650      30,023      18,076      30,975      90,703     244,138
        Bills (2)                                  3,001          62       1,637           73          88         184         205         158          43          26          44         130         351
        Notes and bonds (3)                    2,085,919      43,275   1,138,017       50,514      61,029     127,651     142,621     109,493      29,980      18,050      30,931      90,573     243,787
      Federal agency debt securities (2)           2,347          49       1,280           57          69         144         160         123          34          20          35         102         274
      Mortgage-backed securities (4)           1,500,670      31,133     818,721       36,341      43,906      91,836     102,605      78,772      21,569      12,986      22,252      65,161     175,387
    Unamortized premiums on securities held 
      outright (5)                               128,243       2,661      69,966        3,106       3,752       7,848       8,768       6,732       1,843       1,110       1,902       5,568      14,988
    Unamortized discounts on securities     
      held outright (5)                          -13,046        -271      -7,118         -316        -382        -798        -892        -685        -188        -113        -193        -566      -1,525
    Repurchase agreements (6)                          0           0           0            0           0           0           0           0           0           0           0           0           0
    Loans                                            179           0           0            0           0           6          58           3          26          64           3          13           6
  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          53           0           0           0           0           0           0
  Bank premises                                    2,191         108         458           82         117         191         205         192         103          94         228         222         190
  Central bank liquidity swaps (8)                    43           2          14            2           3           9           3           2           1           0           0           1           6
  Foreign currency denominated                                                                                                                                                                           
     assets (9)                                   20,829         897       6,611        1,203       1,663       4,441       1,211         870         318          99         202         258       3,058
  Other assets (10)                               16,477         361       8,517          394         494       1,227       1,111         837         324         188         333         800       1,890
  Interdistrict settlement account                     0  +    6,384  -  206,806   -    7,215  +   16,058  +   17,415  +   37,863  +   23,950  +    8,776  +    5,056  +    5,806  +   27,739  +   64,972
                                                                                                                                                                                                         
Total assets                                   3,764,866      85,251   1,836,869       84,930     127,676     251,537     296,375     221,859      63,341      37,904      62,102     191,373     505,648

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, August 21, 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            1,907,670      57,465     633,120      54,948      90,727     131,373     262,331     124,462      56,292      31,305      50,199     159,170     256,278
    Less: Notes held by F.R. Banks               204,554       6,350      46,682       8,978      10,167      16,534      28,722      14,272       6,263       3,567       8,375      21,024      33,621
      Federal Reserve notes, net               1,703,116      51,115     586,438      45,971      80,560     114,839     233,610     110,190      50,030      27,738      41,824     138,146     222,657
  Reverse repurchase agreements (11)             301,218       6,249     164,336       7,294       8,813      18,433      20,595      15,811       4,329       2,607       4,467      13,079      35,204
  Deposits                                     1,716,286      25,924   1,070,933      29,953      34,859     109,594      39,433      94,051       8,231       7,002      15,258      39,408     241,641
    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                           1,517,820      25,909     917,683      29,950      34,827     108,889      39,399      49,858       8,228       6,946      15,207      39,290     241,635
    U.S. Treasury, General Account               131,447           0     131,447           0           0           0           0           0           0           0           0           0           0
    Foreign official                               5,256           2       5,229           2           3           9           2           2           1           0           0           0           6
    Other (12)                                    61,763          13      16,574           1          28         696          32      44,191           3          56          51         118           1
  Deferred availability cash items                   207           0           0           0           0           0          58           0           0         149           0           0           0
  Earnings remittances due to the U.S.      
     Treasury (13)                                   597           9         343          12          13          22          66          24          12           6          12          39          39
  Other liabilities and accrued             
     dividends                                     4,147         166       1,605         173         184         478         296         278         130         144         147         212         333
                                                                                                                                                                                                        
Total liabilities                              3,725,572      83,464   1,823,655      83,403     124,429     243,366     294,058     220,354      62,731      37,646      61,707     190,884     499,874
                                                                                                                                                                                                        
Capital                                                                                                                                                                                                 
  Capital paid in                                 32,469       1,493      11,049       1,133       2,702       6,716       1,920       1,220         506         225         328         404       4,772
  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                  3,764,866      85,251   1,836,869      84,930     127,676     251,537     296,375     221,859      63,341      37,904      62,102     191,373     505,648

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, August 21, 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   
                                                                                          Aug 21, 2019  

Federal Reserve notes outstanding                                                            1,907,670  
  Less: Notes held by F.R. Banks not subject to collateralization                              204,554  
    Federal Reserve notes to be collateralized                                               1,703,116  
Collateral held against Federal Reserve notes                                                1,703,116  
  Gold certificate account                                                                      11,037  
  Special drawing rights certificate account                                                     5,200  
  U.S. Treasury, agency debt, and mortgage-backed securities pledged (1,2)                   1,686,880  
  Other assets pledged                                                                               0  
Memo:                                                                                                   
Total U.S. Treasury, agency debt, and mortgage-backed securities (1,2)                       3,591,937  
  Less: Face value of securities under reverse repurchase agreements                           281,160  
    U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged        3,310,777  

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.