FEDERAL RESERVE statistical release

H.4.1

Factors Affecting Reserve Balances of Depository Institutions and

Condition Statement of Federal Reserve Banks January 17, 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

Jan 16, 2019 Jan 9, 2019 Jan 17, 2018

Wednesday

Jan 16, 2019

Reserve Bank credit 4,015,961 - 866 - 388,161 4,010,725

Securities held outright1 3,860,049 - 1,934 - 366,151 3,855,356

U.S. Treasury securities 2,221,749 - 701 - 226,117 2,220,219

Bills2 0 0 0 0

Notes and bonds, nominal2 2,083,586 0 - 235,360 2,083,586

Notes and bonds, inflation-indexed2 116,037 - 508 + 6,655 114,769

Inflation compensation3 22,125 - 194 + 2,587 21,863

Federal agency debt securities2 2,409 0 - 1,982 2,409

Mortgage-backed securities4 1,635,891 - 1,232 - 138,051 1,632,729

Unamortized premiums on securities held outright5 139,592 - 264 - 18,863 139,410

Unamortized discounts on securities held outright5 -13,367 + 31 + 735 -13,354

Repurchase agreements6 0 0 0 0

Loans 15 + 8 - 33 15

Primary credit 14 + 7 - 32 12

Secondary credit 0 0 0 0

Seasonal credit 1 + 1 - 2 3

Other credit extensions 0 0 0 0

Net portfolio holdings of Maiden Lane LLC7 0 0 - 1,715 0

Float -202 - 5 + 47 -108

Central bank liquidity swaps8 88 - 587 - 30 88

Other Federal Reserve assets9 29,786 + 1,884 - 2,151 29,318

Foreign currency denominated assets10 21,087 + 19 - 568 20,997

Gold stock 11,041 0 0 11,041

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

Treasury currency outstanding11 49,901 + 14 + 490 49,901

Total factors supplying reserve funds 4,103,190 - 833 - 388,238 4,097,864

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

Jan 16, 2019 Jan 9, 2019 Jan 17, 2018

Wednesday

Jan 16, 2019

Currency in circulation11 1,706,879 - 8,685 + 96,232 1,705,632

Reverse repurchase agreements12 262,233 + 216 + 1,398 255,955

Foreign official and international accounts 260,405 + 1,804 + 22,785 254,639

Others 1,829 - 1,587 - 21,386 1,316

Treasury cash holdings 223 + 8 - 5 235

Deposits with F.R. Banks, other than reserve balances 424,749 - 7,709 + 103,957 466,184

Term deposits held by depository institutions 0 0 0 0

U.S. Treasury, General Account 351,180 - 5,518 + 123,515 396,414

Foreign official 5,247 - 17 - 6 5,243

Other13 68,322 - 2,173 - 19,551 64,527

Other liabilities and capital14 44,968 + 1,585 - 4,059 44,357

Total factors, other than reserve balances,

absorbing reserve funds 2,439,052 - 14,584 + 197,523 2,472,363

Reserve balances with Federal Reserve Banks 1,664,138 + 13,751 - 585,761 1,625,501

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

Jan 16, 2019 Jan 9, 2019 Jan 17, 2018

Wednesday

Jan 16, 2019

Securities held in custody for foreign official and international

accounts 3,403,279 + 7,635 + 47,741 3,410,003

Marketable U.S. Treasury securities1 3,027,819 + 5,490 + 12,780 3,033,022

Federal agency debt and mortgage-backed securities2 307,909 + 758 + 46,090 308,544

Other securities3 67,551 + 1,386 - 11,130 68,437

Securities lent to dealers 21,188 - 3,287 + 789 18,086

Overnight facility4 21,188 - 3,287 + 789 18,086

U.S. Treasury securities 21,188 - 3,287 + 789 18,086

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, January 16, 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 13 2 0 0 0 ... 15

U.S. Treasury securities1

Holdings 14,191 78,611 292,515 955,556 260,811 618,535 2,220,219

Weekly changes + 12,101 - 14,011 + 2,293 - 2,489 - 38 - 50 - 2,193

Federal agency debt securities2

Holdings 0 62 0 0 0 2,347 2,409

Weekly changes 0 0 0 0 0 0 0

Mortgage-backed securities3

Holdings 0 0 4 215 65,268 1,567,241 1,632,729

Weekly changes 0 0 0 - 3 - 358 - 4,034 - 4,394

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

Central bank liquidity swaps5 88 0 0 0 0 0 88

Reverse repurchase agreements4 255,955 0 ... ... ... ... 255,955

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 Jan 16, 2019

Mortgage-backed securities held outright1 1,632,729

Commitments to buy mortgage-backed securities2 353

Commitments to sell mortgage-backed securities2 0

Cash and cash equivalents3 0

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

Jan 16, 2019 Jan 9, 2019 Jan 17, 2018

Assets

Gold certificate account 11,037 0 0

Special drawing rights certificate account 5,200 0 0

Coin 1,768 + 23 - 148

Securities, unamortized premiums and discounts,

repurchase agreements, and loans 3,981,427 - 6,926 - 384,559

Securities held outright1 3,855,356 - 6,588 - 366,393

U.S. Treasury securities 2,220,219 - 2,193 - 226,790

Bills2 0 0 0

Notes and bonds, nominal2 2,083,586 0 - 236,715

Notes and bonds, inflation-indexed2 114,769 - 1,776 + 7,266

Inflation compensation3 21,863 - 418 + 2,658

Federal agency debt securities2 2,409 0 - 1,982

Mortgage-backed securities4 1,632,729 - 4,394 - 137,620

Unamortized premiums on securities held outright5 139,410 - 379 - 18,842

Unamortized discounts on securities held outright5 -13,354 + 33 + 759

Repurchase agreements6 0 0 0

Loans 15 + 8 - 83

Net portfolio holdings of Maiden Lane LLC7 0 0 - 1,715

Items in process of collection (0) 209 + 20 + 107

Bank premises 2,204 + 2 - 3

Central bank liquidity swaps8 88 + 2 - 30

Foreign currency denominated assets9 20,997 - 162 - 770

Other assets10 27,114 + 522 - 1,984

Total assets (0) 4,050,044 - 6,519 - 389,101

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

Jan 16, 2019 Jan 9, 2019 Jan 17, 2018

Liabilities

Federal Reserve notes, net of F.R. Bank holdings 1,657,729 - 6,291 + 94,722

Reverse repurchase agreements11 255,955 - 4,486 - 4,804

Deposits (0) 2,091,685 + 3,992 - 475,313

Term deposits held by depository institutions 0 0 0

Other deposits held by depository institutions 1,625,501 - 38,685 - 608,951

U.S. Treasury, General Account 396,414 + 46,971 + 139,694

Foreign official 5,243 - 2 - 10

Other12 (0) 64,527 - 4,292 - 6,047

Deferred availability cash items (0) 317 - 53 + 70

Other liabilities and accrued dividends13 5,223 + 316 - 1,505

Total liabilities (0) 4,010,910 - 6,520 - 386,830

Capital accounts

Capital paid in 32,308 0 + 903

Surplus 6,825 0 - 3,175

Other capital accounts 0 0 0

Total capital 39,133 0 - 2,272

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, January 16, 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 11,037 364 3,626 350 544 773 1,491 739 334 199 307 905 1,405

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

Coin 1,768 43 41 152 127 236 194 292 31 47 113 200 293

Securities, unamortized premiums and

discounts, repurchase agreements,

and loans 3,981,427 76,041 2,198,050 100,522 112,874 235,605 238,991 213,238 53,006 33,225 62,677 164,640 492,559

Securities held outright1 3,855,356 73,633 2,128,456 97,340 109,301 228,145 231,425 206,485 51,328 32,173 60,692 159,418 476,962

U.S. Treasury securities 2,220,219 42,404 1,225,733 56,056 62,944 131,384 133,273 118,910 29,558 18,528 34,952 91,806 274,672

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

Notes and bonds3 2,220,219 42,404 1,225,733 56,056 62,944 131,384 133,273 118,910 29,558 18,528 34,952 91,806 274,672

Federal agency debt securities2 2,409 46 1,330 61 68 143 145 129 32 20 38 100 298

Mortgage-backed securities4 1,632,729 31,183 901,393 41,223 46,288 96,619 98,007 87,445 21,737 13,625 25,703 67,513 201,992

Unamortized premiums on securities 

held outright5 139,410 2,663 76,965 3,520 3,952 8,250 8,368 7,467 1,856 1,163 2,195 5,765 17,247

Unamortized discounts on securities 

held outright5 -13,354 -255 -7,372 -337 -379 -790 -802 -715 -178 -111 -210 -552 -1,652

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

Loans 15 1 1 0 0 0 0 2 0 0 0 9 2

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 209 0 0 0 0 0 208 0 0 0 0 0 0

Bank premises 2,204 110 456 82 118 195 206 194 106 95 232 221 192

Central bank liquidity swaps8 88 4 28 5 7 19 5 4 1 0 1 1 13

Foreign currency denominated

assets9 20,997 893 6,620 1,192 1,695 4,535 1,213 890 303 96 208 260 3,090

Other assets10 27,114 547 14,494 679 784 1,837 1,629 1,425 448 260 487 1,207 3,317

Interdistrict settlement account 0 + 4,121 - 69,059 - 710 + 2,706 + 9,247 + 36,141 - 3,963 + 8,702 + 2,635 + 363 + 9,465 + 352

Total assets 4,050,044 82,319 2,156,075 102,483 119,091 252,859 280,733 213,241 63,081 36,647 64,540 177,180 501,795

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, January 16, 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 1,863,049 57,900 617,452 54,892 89,129 126,182 261,141 121,832 55,996 31,497 49,902 150,502 246,624

Less: Notes held by F.R. Banks 205,320 6,354 53,886 6,884 9,607 14,684 31,392 15,091 5,637 2,939 6,264 19,098 33,484

Federal Reserve notes, net 1,657,729 51,545 563,566 48,008 79,522 111,498 229,750 106,741 50,359 28,558 43,638 131,404 213,139

Reverse repurchase agreements11 255,955 4,888 141,307 6,462 7,256 15,146 15,364 13,708 3,408 2,136 4,029 10,584 31,665

Deposits 2,091,685 24,021 1,436,662 45,551 28,974 117,279 32,781 90,798 8,571 5,495 16,358 34,454 250,742

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 1,625,501 24,006 1,014,771 45,548 28,946 116,946 32,746 47,069 8,564 5,441 16,346 34,384 250,735

U.S. Treasury, General Account 396,414 0 396,414 0 0 0 0 0 0 0 0 0 0

Foreign official 5,243 2 5,216 2 3 9 2 2 1 0 0 0 6

Other12 64,527 14 20,261 1 25 325 32 43,727 6 54 12 69 1

Deferred availability cash items 317 0 0 0 0 0 192 0 0 125 0 0 0

Earnings remittances due to the U.S.

Treasury13 725 10 421 11 21 5 74 40 14 9 3 52 66

Other liabilities and accrued

dividends 4,498 171 1,707 195 186 561 298 315 137 138 145 215 431

Total liabilities 4,010,910 80,636 2,143,663 100,227 115,959 244,490 278,458 211,602 62,489 36,462 64,173 176,708 496,043

Capital

Capital paid in 32,308 1,393 10,260 1,868 2,581 6,895 1,881 1,350 493 154 299 388 4,747

Surplus 6,825 290 2,151 388 551 1,474 394 289 98 31 68 84 1,005

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

Total liabilities and capital 4,050,044 82,319 2,156,075 102,483 119,091 252,859 280,733 213,241 63,081 36,647 64,540 177,180 501,795

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, January 16, 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 Jan 16, 2019

Federal Reserve notes outstanding 1,863,049

Less: Notes held by F.R. Banks not subject to collateralization 205,320

Federal Reserve notes to be collateralized 1,657,729

Collateral held against Federal Reserve notes 1,657,729

Gold certificate account 11,037

Special drawing rights certificate account 5,200

U.S. Treasury, agency debt, and mortgage-backed securities pledged1,2 1,641,492

Other assets pledged 0

Memo:

Total U.S. Treasury, agency debt, and mortgage-backed securities1,2 3,855,356

Less: Face value of securities under reverse repurchase agreements 252,968

U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 3,602,388

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.