FEDERAL RESERVE statistical release

H.4.1

Factors Affecting Reserve Balances of Depository Institutions and     
Condition Statement of Federal Reserve Banks                                                    June 13, 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  Jun 12, 2019 
Federal Reserve Banks                                     Jun 12, 2019  Jun 5, 2019 Jun 13, 2018              

Reserve Bank credit                                         3,810,060   +    1,903   -  471,573    3,810,819  
  Securities held outright (1)                              3,667,646   -      540   -  449,742    3,667,709  
    U.S. Treasury securities                                2,109,894   -      539   -  268,058    2,109,957  
      Bills (2)                                                    50            0   +       50           50  
      Notes and bonds, nominal (2)                          1,970,270   -      899   -  271,891    1,970,270  
      Notes and bonds, inflation-indexed (2)                  116,516   +      165   +    1,656      116,516  
      Inflation compensation (3)                               23,057   +      194   +    2,126       23,120  
    Federal agency debt securities (2)                          2,347            0   -    1,761        2,347  
    Mortgage-backed securities (4)                          1,555,405            0   -  179,923    1,555,405  
  Unamortized premiums on securities held outright (5)        132,248   -      215   -   18,668      132,190  
  Unamortized discounts on securities held outright (5)       -12,976   +       29   +    1,013      -12,966  
  Repurchase agreements (6)                                         0            0            0            0  
  Loans                                                            49   -       62   -       74           53  
    Primary credit                                                  2   -       68   -       15            5  
    Secondary credit                                                0            0            0            0  
    Seasonal credit                                                47   +        5   -       59           48  
    Other credit extensions                                         0            0            0            0  
  Net portfolio holdings of Maiden Lane LLC (7)                     0            0   -    1,713            0  
  Float                                                          -175   +      292   +        4         -278  
  Central bank liquidity swaps (8)                                 22   +        5   -       69           22  
  Other Federal Reserve assets (9)                             23,246   +    2,394   -    2,325       24,090  
Foreign currency denominated assets (10)                       20,927   +      133   -      423       20,911  
Gold stock                                                     11,041            0            0       11,041  
Special drawing rights certificate account                      5,200            0            0        5,200  
Treasury currency outstanding (11)                             49,981   +       14   +      388       49,981  
                                                                                                              
Total factors supplying reserve funds                       3,897,210   +    2,050   -  471,607    3,897,952  

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  Jun 12, 2019 
Federal Reserve Banks                                     Jun 12, 2019  Jun 5, 2019 Jun 13, 2018              

Currency in circulation (11)                                 1,737,295   -    1,408   +   76,396    1,738,366 
Reverse repurchase agreements (12)                             271,411   -    8,302   +   27,326      264,330 
  Foreign official and international accounts                  269,589   -    8,839   +   28,826      262,625 
  Others                                                         1,822   +      537   -    1,500        1,705 
Treasury cash holdings                                             221   -       22   -       14          213 
Deposits with F.R. Banks, other than reserve balances          256,096   -   37,987   -  104,479      240,460 
  Term deposits held by depository institutions                      0   -    2,700            0            0 
  U.S. Treasury, General Account                               187,560   -   36,078   -   93,628      173,062 
  Foreign official                                               5,277   +       32   +       22        5,244 
  Other (13)                                                    63,260   +      759   -   10,872       62,154 
Other liabilities and capital (14)                              45,223   -      105   -      531       44,845 
                                                                                                              
Total factors, other than reserve balances,               
    absorbing reserve funds                                  2,310,247   -   47,823   -    1,301    2,288,215 
                                                                                                              
Reserve balances with Federal Reserve Banks                  1,586,963   +   49,874   -  470,306    1,609,738 

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  Jun 12, 2019 
                                                          Jun 12, 2019  Jun 5, 2019 Jun 13, 2018              

Securities held in custody for foreign official and       
     international accounts                                  3,461,113   +   17,705   +   59,575    3,467,033 
  Marketable U.S. Treasury securities (1)                    3,051,494   +   17,237   +   12,936    3,057,071 
  Federal agency debt and mortgage-backed securities (2)       332,930   +      361   +   44,806      333,087 
  Other securities (3)                                          76,690   +      108   +    1,834       76,875 
Securities lent to dealers                                      31,264   -      174   +    9,273       32,392 
  Overnight facility (4)                                        31,264   -      174   +    9,273       32,392 
    U.S. Treasury securities                                    31,264   -      174   +    9,273       32,392 
    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, June 12, 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                                            8            45             0             0             0           ...            53 
U.S. Treasury securities (1)                                                                                                           
  Holdings                                      45       112,457       246,842       870,738       267,777       612,098     2,109,957 
  Weekly changes                        -        5    +        6    +        2    +       24    +       80    +       66    +      172 
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           306        72,427     1,482,664     1,555,405 
  Weekly changes                                 0             0             0             0             0             0             0 
Repurchase agreements (4)                        0             0           ...           ...           ...           ...             0 
Central bank liquidity swaps (5)                22             0             0             0             0             0            22 
                                                                                                                                       
Reverse repurchase agreements (4)          264,330             0           ...           ...           ...           ...       264,330 
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   
                                                                                                                      Jun 12, 2019  

Mortgage-backed securities held outright (1)                                                                             1,555,405  
                                                                                                                                    
Commitments to buy mortgage-backed securities (2)                                                                              377  
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       Jun 12, 2019   Wednesday    Wednesday  
                                                        consolidation                 Jun 5, 2019 Jun 13, 2018 

Assets                                                                                                         
  Gold certificate account                                                   11,037            0            0  
  Special drawing rights certificate account                                  5,200            0            0  
  Coin                                                                        1,667   +        7   -      104  
  Securities, unamortized premiums and discounts,     
     repurchase agreements, and loans                                     3,786,985   +       39   -  470,240  
    Securities held outright (1)                                          3,667,709   +      172   -  452,432  
      U.S. Treasury securities                                            2,109,957   +      172   -  268,041  
        Bills (2)                                                                50            0   +       50  
        Notes and bonds, nominal (2)                                      1,970,270            0   -  271,891  
        Notes and bonds, inflation-indexed (2)                              116,516            0   +    1,656  
        Inflation compensation (3)                                           23,120   +      172   +    2,143  
      Federal agency debt securities (2)                                      2,347            0   -       62  
      Mortgage-backed securities (4)                                      1,555,405            0   -  184,328  
    Unamortized premiums on securities held outright  
    (5)                                                                     132,190   -      167   -   18,711  
    Unamortized discounts on securities held outright 
    (5)                                                                     -12,966   +       28   +    1,019  
    Repurchase agreements (6)                                                     0            0            0  
    Loans                                                                        53   +        8   -      115  
  Net portfolio holdings of Maiden Lane LLC (7)                                   0            0   -    1,713  
  Items in process of collection                                   (0)           43   -       83   -       55  
  Bank premises                                                               2,192   +        3   +        4  
  Central bank liquidity swaps (8)                                               22   +        5   -       69  
  Foreign currency denominated assets (9)                                    20,911   +       56   -      391  
  Other assets (10)                                                          21,898   +    2,284   -    2,383  
                                                                                                               
Total assets                                                       (0)    3,849,955   +    2,310   -  474,951  

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       Jun 12, 2019   Wednesday    Wednesday  
                                                        consolidation                 Jun 5, 2019 Jun 13, 2018 

Liabilities                                                                                                    
  Federal Reserve notes, net of F.R. Bank holdings                         1,690,261   -      519   +   76,146 
  Reverse repurchase agreements (11)                                         264,330   -    7,376   +   24,672 
  Deposits                                                          (0)    1,850,198   +   11,100   -  574,609 
    Term deposits held by depository institutions                                  0   -    2,700            0 
    Other deposits held by depository institutions                         1,609,738   +   50,028   -  453,300 
    U.S. Treasury, General Account                                           173,062   -   34,585   -  109,906 
    Foreign official                                                           5,244            0   -       11 
    Other (12)                                                      (0)       62,154   -    1,644   -   11,392 
  Deferred availability cash items                                  (0)          321   -      254   +        7 
  Other liabilities and accrued dividends (13)                                 5,656   -      641   -      780 
                                                                                                               
Total liabilities                                                   (0)    3,810,767   +    2,310   -  474,564 
                                                                                                               
Capital accounts                                                                                               
  Capital paid in                                                             32,364   +        1   +      288 
  Surplus                                                                      6,825            0   -      675 
  Other capital accounts                                                           0            0            0 
                                                                                                               
Total capital                                                                 39,189   +        1   -      387 

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, June 12, 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                                             1,667          41          33          145         111         217         181         281          30          47         104         188         290
  Securities, unamortized premiums and      
     discounts, repurchase agreements,      
     and loans                                 3,786,985      78,564   2,066,040       91,707     110,796     231,747     258,928     198,788      54,428      32,806      56,154     164,434     442,593
    Securities held outright (1)               3,667,709      76,091   2,000,995       88,819     107,308     224,451     250,772     192,523      52,715      31,738      54,386     159,256     428,655
      U.S. Treasury securities                 2,109,957      43,774   1,151,131       51,096      61,732     129,122     144,264     110,755      30,326      18,258      31,287      91,617     246,596
        Bills (2)                                     50           1          27            1           1           3           3           3           1           0           1           2           6
        Notes and bonds (3)                    2,109,907      43,772   1,151,103       51,095      61,731     129,119     144,261     110,752      30,325      18,257      31,286      91,615     246,591
      Federal agency debt securities (2)           2,347          49       1,280           57          69         144         160         123          34          20          35         102         274
      Mortgage-backed securities (4)           1,555,405      32,269     848,584       37,667      45,507      95,185     106,348      81,645      22,355      13,459      23,064      67,538     181,784
    Unamortized premiums on securities held 
      outright (5)                               132,190       2,742      72,119        3,201       3,868       8,090       9,038       6,939       1,900       1,144       1,960       5,740      15,449
    Unamortized discounts on securities     
      held outright (5)                          -12,966        -269      -7,074         -314        -379        -793        -887        -681        -186        -112        -192        -563      -1,515
    Repurchase agreements (6)                          0           0           0            0           0           0           0           0           0           0           0           0           0
    Loans                                             53           0           1            0           0           0           4           7           0          37           0           1           4
  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                      43           0           0            0           0           0          43           0           0           0           0           0           0
  Bank premises                                    2,192         107         457           81         118         192         207         191         104          94         229         221         191
  Central bank liquidity swaps (8)                    22           1           7            1           2           5           1           1           0           0           0           0           3
  Foreign currency denominated                                                                                                                                                                           
     assets (9)                                   20,911         900       6,637        1,208       1,669       4,458       1,216         873         319          99         202         259       3,070
  Other assets (10)                               21,898         469      11,442          525         646       1,538       1,480       1,118         516         253         396         987       2,528
  Interdistrict settlement account                     0  +    4,315  -  160,834   -    8,271  +   13,816  +    4,466  +   27,229  +   14,968  +    6,688  +    3,998  +    2,896  +   21,374  +   69,357
                                                                                                                                                                                                         
Total assets                                   3,849,955      84,944   1,929,306       85,934     127,926     243,789     291,498     217,354      62,563      37,575      60,426     188,634     520,006

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, June 12, 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            1,889,631      57,581     624,085      54,582      90,182     130,034     258,749     123,270      55,958      31,384      50,335     158,413     255,058
    Less: Notes held by F.R. Banks               199,370       6,217      49,385       8,225      10,120      14,853      31,099      12,700       6,127       3,166       7,901      19,776      29,802
      Federal Reserve notes, net               1,690,261      51,364     574,700      46,357      80,062     115,182     227,650     110,571      49,831      28,219      42,434     138,637     225,256
  Reverse repurchase agreements (11)             264,330       5,484     144,211       6,401       7,734      16,176      18,073      13,875       3,799       2,287       3,920      11,478      30,893
  Deposits                                     1,850,198      26,110   1,194,852      31,429      36,669     103,649      43,037      91,002       8,158       6,445      13,507      37,755     257,585
    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                           1,609,738      26,101     994,986      31,426      36,637     103,413      43,002      50,904       8,152       6,385      13,486      37,667     257,578
    U.S. Treasury, General Account               173,062           0     173,062           0           0           0           0           0           0           0           0           0           0
    Foreign official                               5,244           2       5,217           2           3           9           2           2           1           0           0           0           6
    Other (12)                                    62,154           7      21,587           1          29         227          33      40,096           5          60          21          87           1
  Deferred availability cash items                   321           0           0           0           0           0          43           0           0         279           0           0           0
  Earnings remittances due to the U.S.      
     Treasury (13)                                 1,325          26         725          34          44          76         115          62          22          12          20          66         122
  Other liabilities and accrued             
     dividends                                     4,331         175       1,648         182         205         534         296         280         137         143         152         210         368
                                                                                                                                                                                                        
Total liabilities                              3,810,767      83,159   1,916,136      84,403     124,714     235,617     289,214     215,790      61,947      37,385      60,032     188,146     514,224
                                                                                                                                                                                                        
Capital                                                                                                                                                                                                 
  Capital paid in                                 32,364       1,491      11,005       1,136       2,667       6,717       1,887       1,279         512         157         328         403       4,780
  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                  3,849,955      84,944   1,929,306      85,934     127,926     243,789     291,498     217,354      62,563      37,575      60,426     188,634     520,006

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, June 12, 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   
                                                                                          Jun 12, 2019  

Federal Reserve notes outstanding                                                            1,889,631  
  Less: Notes held by F.R. Banks not subject to collateralization                              199,370  
    Federal Reserve notes to be collateralized                                               1,690,261  
Collateral held against Federal Reserve notes                                                1,690,261  
  Gold certificate account                                                                      11,037  
  Special drawing rights certificate account                                                     5,200  
  U.S. Treasury, agency debt, and mortgage-backed securities pledged (1,2)                   1,674,024  
  Other assets pledged                                                                               0  
Memo:                                                                                                   
Total U.S. Treasury, agency debt, and mortgage-backed securities (1,2)                       3,667,709  
  Less: Face value of securities under reverse repurchase agreements                           252,376  
    U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged        3,415,333  

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.