FEDERAL RESERVE statistical release

H.4.1

Factors Affecting Reserve Balances of Depository Institutions and

Condition Statement of Federal Reserve Banks August 15, 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

Aug 14, 2019 Aug 7, 2019 Aug 15, 2018

Wednesday

Aug 14, 2019

Reserve Bank credit 3,744,394 + 2,855 - 472,623 3,746,892

Securities held outright1 3,595,517 + 691 - 452,769 3,597,231

U.S. Treasury securities 2,080,708 + 5 - 254,450 2,080,710

Bills2 0 - 2 0 0

Notes and bonds, nominal2 1,940,396 0 - 258,395 1,940,396

Notes and bonds, inflation-indexed2 116,545 0 + 1,953 116,545

Inflation compensation3 23,767 + 6 + 1,992 23,769

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

Mortgage-backed securities4 1,512,462 + 687 - 198,257 1,514,174

Unamortized premiums on securities held outright5 128,948 - 169 - 18,698 128,888

Unamortized discounts on securities held outright5 -12,717 + 28 + 1,079 -12,706

Repurchase agreements6 0 0 0 0

Loans 99 - 8 - 143 100

Primary credit 1 0 - 5 0

Secondary credit 0 0 0 0

Seasonal credit 98 - 9 - 138 100

Other credit extensions 0 0 0 0

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

Float -127 + 25 + 33 -175

Central bank liquidity swaps8 45 + 18 - 61 45

Other Federal Reserve assets9 32,628 + 2,270 - 345 33,509

Foreign currency denominated assets10 21,013 + 125 + 153 20,940

Gold stock 11,041 0 0 11,041

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

Treasury currency outstanding11 50,014 + 14 + 359 50,014

Total factors supplying reserve funds 3,831,662 + 2,993 - 472,111 3,834,087

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

Aug 14, 2019 Aug 7, 2019 Aug 15, 2018

Wednesday

Aug 14, 2019

Currency in circulation11 1,747,729 - 362 + 76,787 1,749,491

Reverse repurchase agreements12 287,627 - 11,429 + 45,107 298,541

Foreign official and international accounts 284,143 - 11,119 + 43,271 295,797

Others 3,484 - 310 + 1,836 2,744

Treasury cash holdings 168 - 7 - 51 172

Deposits with F.R. Banks, other than reserve balances 200,111 + 2,404 - 222,052 229,456

Term deposits held by depository institutions 0 0 0 0

U.S. Treasury, General Account 129,957 - 1,747 - 212,842 130,981

Foreign official 5,255 - 1 - 3 5,255

Other13 64,899 + 4,151 - 9,208 93,220

Other liabilities and capital14 45,620 + 1,224 + 238 45,163

Total factors, other than reserve balances,

absorbing reserve funds 2,281,256 - 8,168 - 99,970 2,322,824

Reserve balances with Federal Reserve Banks 1,550,406 + 11,162 - 372,141 1,511,264

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

Aug 14, 2019 Aug 7, 2019 Aug 15, 2018

Wednesday

Aug 14, 2019

Securities held in custody for foreign official and international

accounts 3,467,798 - 5,789 + 35,485 3,472,300

Marketable U.S. Treasury securities1 3,029,145 - 6,067 - 30,591 3,032,963

Federal agency debt and mortgage-backed securities2 357,746 + 261 + 57,153 358,486

Other securities3 80,907 + 17 + 8,923 80,851

Securities lent to dealers 29,049 + 2,957 + 13,599 27,871

Overnight facility4 29,049 + 2,957 + 13,599 27,871

U.S. Treasury securities 29,049 + 2,957 + 13,599 27,871

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 14, 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 8 92 0 0 0 ... 100

U.S. Treasury securities1

Holdings 54,814 43,341 251,235 853,064 265,734 612,521 2,080,710

Weekly changes 0 0 0 + 1 + 3 + 2 + 6

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 8 412 78,844 1,434,910 1,514,174

Weekly changes 0 0 0 0 0 + 2,397 + 2,397

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

Central bank liquidity swaps5 45 0 0 0 0 0 45

Reverse repurchase agreements4 298,541 0 ... ... ... ... 298,541

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 Aug 14, 2019

Mortgage-backed securities held outright1 1,514,174

Commitments to buy mortgage-backed securities2 1,468

Commitments to sell mortgage-backed securities2 0

Cash and cash equivalents3 16

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

Aug 14, 2019 Aug 7, 2019 Aug 15, 2018

Assets

Gold certificate account 11,037 0 0

Special drawing rights certificate account 5,200 0 0

Coin 1,715 + 16 - 69

Securities, unamortized premiums and discounts,

repurchase agreements, and loans 3,713,513 + 2,233 - 455,338

Securities held outright1 3,597,231 + 2,403 - 437,757

U.S. Treasury securities 2,080,710 + 6 - 243,681

Bills2 0 0 0

Notes and bonds, nominal2 1,940,396 0 - 247,610

Notes and bonds, inflation-indexed2 116,545 0 + 1,953

Inflation compensation3 23,769 + 6 + 1,976

Federal agency debt securities2 2,347 0 - 62

Mortgage-backed securities4 1,514,174 + 2,397 - 194,013

Unamortized premiums on securities held outright5 128,888 - 197 - 18,573

Unamortized discounts on securities held outright5 -12,706 + 29 + 1,138

Repurchase agreements6 0 0 0

Loans 100 - 2 - 146

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

Items in process of collection (0) 59 + 1 - 130

Bank premises 2,186 + 1 + 4

Central bank liquidity swaps8 45 + 15 - 61

Foreign currency denominated assets9 20,940 - 114 + 152

Other assets10 31,323 + 2,323 + 14,255

Total assets (0) 3,786,018 + 4,475 - 442,906

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

Aug 14, 2019 Aug 7, 2019 Aug 15, 2018

Liabilities

Federal Reserve notes, net of F.R. Bank holdings 1,701,360 + 226 + 75,446

Reverse repurchase agreements11 298,541 + 14,407 + 49,005

Deposits (0) 1,740,720 - 10,811 - 567,635

Term deposits held by depository institutions 0 0 0

Other deposits held by depository institutions 1,511,264 - 40,357 - 407,480

U.S. Treasury, General Account 130,981 - 2,096 - 187,136

Foreign official 5,255 0 - 2

Other12 (0) 93,220 + 31,643 + 26,983

Deferred availability cash items (0) 234 + 12 - 101

Other liabilities and accrued dividends13 5,882 + 600 + 116

Total liabilities (0) 3,746,737 + 4,434 - 443,170

Capital accounts

Capital paid in 32,456 + 41 + 264

Surplus 6,825 0 0

Other capital accounts 0 0 0

Total capital 39,281 + 41 + 264

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, August 14, 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 1,715 38 47 151 112 218 191 279 31 46 114 203 286

Securities, unamortized premiums and

discounts, repurchase agreements,

and loans 3,713,513 77,039 2,025,929 89,926 108,645 227,248 253,909 194,924 53,388 32,195 55,064 161,245 434,001

Securities held outright1 3,597,231 74,629 1,962,544 87,113 105,246 220,138 245,954 188,824 51,702 31,128 53,341 156,196 420,418

U.S. Treasury securities 2,080,710 43,167 1,135,175 50,388 60,876 127,332 142,264 109,219 29,905 18,005 30,854 90,347 243,178

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

Notes and bonds3 2,080,710 43,167 1,135,175 50,388 60,876 127,332 142,264 109,219 29,905 18,005 30,854 90,347 243,178

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

Mortgage-backed securities4 1,514,174 31,413 826,089 36,668 44,301 92,662 103,529 79,481 21,763 13,102 22,453 65,747 176,966

Unamortized premiums on securities 

held outright5 128,888 2,674 70,317 3,121 3,771 7,887 8,812 6,765 1,852 1,115 1,911 5,596 15,063

Unamortized discounts on securities 

held outright5 -12,706 -264 -6,932 -308 -372 -778 -869 -667 -183 -110 -188 -552 -1,485

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

Loans 100 0 0 0 0 0 11 2 17 62 0 4 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 59 0 0 0 0 0 58 0 0 0 0 0 0

Bank premises 2,186 107 458 81 117 191 205 192 103 94 228 220 190

Central bank liquidity swaps8 45 2 14 3 4 10 3 2 1 0 0 1 7

Foreign currency denominated

assets9 20,940 902 6,646 1,210 1,671 4,464 1,218 874 319 100 203 259 3,074

Other assets10 31,323 668 16,605 753 928 2,161 2,124 1,610 537 347 552 1,414 3,623

Interdistrict settlement account 0 + 4,918 - 208,707 - 7,519 + 20,919 + 12,267 + 38,486 + 21,459 + 8,805 + 5,176 + 4,957 + 28,549 + 70,691

Total assets 3,786,018 84,220 1,846,518 85,141 133,164 247,724 298,407 220,476 63,662 38,235 61,564 193,063 513,845

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, August 14, 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 1,905,049 57,466 631,665 54,851 90,852 131,487 261,396 124,475 56,379 31,363 50,296 158,834 255,985

Less: Notes held by F.R. Banks 203,689 6,325 47,280 8,615 10,123 16,309 29,406 13,913 6,140 3,435 8,212 20,795 33,135

Federal Reserve notes, net 1,701,360 51,141 584,385 46,236 80,730 115,178 231,990 110,562 50,239 27,928 42,084 138,039 222,850

Reverse repurchase agreements11 298,541 6,194 162,875 7,230 8,735 18,270 20,412 15,671 4,291 2,583 4,427 12,963 34,891

Deposits 1,740,720 24,903 1,083,458 29,940 40,229 105,538 43,214 92,374 8,364 7,140 14,481 41,281 249,799

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 1,511,264 24,877 897,065 29,937 40,201 105,106 43,127 50,080 8,360 7,088 14,463 41,167 249,792

U.S. Treasury, General Account 130,981 0 130,981 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 93,220 25 50,184 1 25 424 84 42,292 3 51 17 113 0

Deferred availability cash items 234 0 0 0 0 0 65 0 0 168 0 0 0

Earnings remittances due to the U.S.

Treasury13 1,069 17 603 23 28 45 101 50 19 11 17 60 94

Other liabilities and accrued

dividends 4,812 178 1,993 187 197 522 308 313 138 148 161 231 437

Total liabilities 3,746,737 82,433 1,833,314 83,615 129,918 239,553 296,090 218,970 63,052 37,978 61,170 192,574 508,071

Capital

Capital paid in 32,456 1,493 11,038 1,132 2,701 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 3,786,018 84,220 1,846,518 85,141 133,164 247,724 298,407 220,476 63,662 38,235 61,564 193,063 513,845

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, August 14, 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 Aug 14, 2019

Federal Reserve notes outstanding 1,905,049

Less: Notes held by F.R. Banks not subject to collateralization 203,689

Federal Reserve notes to be collateralized 1,701,360

Collateral held against Federal Reserve notes 1,701,360

Gold certificate account 11,037

Special drawing rights certificate account 5,200

U.S. Treasury, agency debt, and mortgage-backed securities pledged1,2 1,685,123

Other assets pledged 0

Memo:

Total U.S. Treasury, agency debt, and mortgage-backed securities1,2 3,597,231

Less: Face value of securities under reverse repurchase agreements 276,165

U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 3,321,066

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.