FEDERAL RESERVE statistical release

H.4.1

Factors Affecting Reserve Balances of Depository Institutions and     
Condition Statement of Federal Reserve Banks                                                    June 27, 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 26, 2019 
Federal Reserve Banks                                     Jun 26, 2019 Jun 19, 2019 Jun 27, 2018              

Reserve Bank credit                                         3,795,573   -   13,410   -  476,947    3,787,496  
  Securities held outright (1)                              3,652,496   -   12,563   -  455,244    3,645,329  
    U.S. Treasury securities                                2,110,193   +      140   -  268,010    2,110,256  
      Bills (2)                                                     5   -       32   +        5            5  
      Notes and bonds, nominal (2)                          1,970,270            0   -  271,891    1,970,270  
      Notes and bonds, inflation-indexed (2)                  116,516            0   +    1,656      116,516  
      Inflation compensation (3)                               23,401   +      172   +    2,218       23,465  
    Federal agency debt securities (2)                          2,347            0   -       62        2,347  
    Mortgage-backed securities (4)                          1,539,956   -   12,703   -  187,171    1,532,726  
  Unamortized premiums on securities held outright (5)        131,318   -      651   -   18,681      131,026  
  Unamortized discounts on securities held outright (5)       -12,917   +       30   +    1,019      -12,905  
  Repurchase agreements (6)                                         0            0            0            0  
  Loans                                                           100   +       28   -       66          184  
    Primary credit                                                 22   +        3   +       15          102  
    Secondary credit                                                0            0            0            0  
    Seasonal credit                                                78   +       25   -       81           82  
    Other credit extensions                                         0            0            0            0  
  Net portfolio holdings of Maiden Lane LLC (7)                     0            0   -    1,713            0  
  Float                                                          -164   -       26   +       58         -271  
  Central bank liquidity swaps (8)                                 18   +        1   -       72           18  
  Other Federal Reserve assets (9)                             24,722   -      230   -    2,249       24,115  
Foreign currency denominated assets (10)                       21,031   +      215   -      142       21,060  
Gold stock                                                     11,041            0            0       11,041  
Special drawing rights certificate account                      5,200            0            0        5,200  
Treasury currency outstanding (11)                             50,009   +       14   +      400       50,009  
                                                                                                              
Total factors supplying reserve funds                       3,882,854   -   13,182   -  476,689    3,874,807  

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 26, 2019 
Federal Reserve Banks                                     Jun 26, 2019 Jun 19, 2019 Jun 27, 2018              

Currency in circulation (11)                                 1,738,299   +    1,265   +   76,135    1,742,150 
Reverse repurchase agreements (12)                             278,410   +    9,829   +   25,891      272,189 
  Foreign official and international accounts                  261,719   +      175   +   16,265      264,405 
  Others                                                        16,691   +    9,654   +    9,626        7,784 
Treasury cash holdings                                             195   -       16   -       18          184 
Deposits with F.R. Banks, other than reserve balances          316,275   +   39,814   -  143,024      307,162 
  Term deposits held by depository institutions                      0            0            0            0 
  U.S. Treasury, General Account                               248,302   +   49,904   -  125,638      240,909 
  Foreign official                                               5,253   +        9   -        3        5,249 
  Other (13)                                                    62,720   -   10,098   -   17,383       61,004 
Other liabilities and capital (14)                              44,939   -      855   +      438       44,672 
                                                                                                              
Total factors, other than reserve balances,               
    absorbing reserve funds                                  2,378,118   +   50,037   -   40,578    2,366,356 
                                                                                                              
Reserve balances with Federal Reserve Banks                  1,504,737   -   63,218   -  436,110    1,508,451 

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 26, 2019 
                                                          Jun 26, 2019 Jun 19, 2019 Jun 27, 2018              

Securities held in custody for foreign official and       
     international accounts                                  3,467,346   -   10,088   +   67,697    3,457,844 
  Marketable U.S. Treasury securities (1)                    3,043,531   -   12,850   +    5,116    3,034,599 
  Federal agency debt and mortgage-backed securities (2)       346,222   +    2,089   +   57,121      345,417 
  Other securities (3)                                          77,593   +      673   +    5,461       77,827 
Securities lent to dealers                                      28,771   +    1,709   +    7,834       29,864 
  Overnight facility (4)                                        28,771   +    1,709   +    7,834       29,864 
    U.S. Treasury securities                                    28,771   +    1,709   +    7,834       29,864 
    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 26, 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                                          179             6             0             0             0           ...           184 
U.S. Treasury securities (1)                                                                                                           
  Holdings                                  21,465        90,993       246,845       870,787       267,937       612,229     2,110,256 
  Weekly changes                        +        2    -        2    +        2    +       25    +       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             7           292        70,903     1,461,524     1,532,726 
  Weekly changes                                 0             0    -        1    -        9    -    1,066    -   14,993    -   16,070 
Repurchase agreements (4)                        0             0           ...           ...           ...           ...             0 
Central bank liquidity swaps (5)                18             0             0             0             0             0            18 
                                                                                                                                       
Reverse repurchase agreements (4)          272,189             0           ...           ...           ...           ...       272,189 
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 26, 2019  

Mortgage-backed securities held outright (1)                                                                             1,532,726  
                                                                                                                                    
Commitments to buy mortgage-backed securities (2)                                                                            1,574  
Commitments to sell mortgage-backed securities (2)                                                                              59  
                                                                                                                                    
Cash and cash equivalents (3)                                                                                                    2  



1.  Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. The current face value shown is the              
    remaining principal balance of the securities.                                                      
2.  Current face value. Generally settle within 180 days and include commitments associated with            
    outright transactions, dollar rolls, and coupon swaps.                                              
3.  This amount is included in other Federal Reserve assets in table 1 and in other assets in table 4       
    and table 5.                                                                                        







4. Consolidated Statement of Condition of All Federal Reserve Banks
Millions of dollars
Assets, liabilities, and capital                         Eliminations     Wednesday         Change since       
                                                             from       Jun 26, 2019   Wednesday    Wednesday  
                                                        consolidation                Jun 19, 2019 Jun 27, 2018 

Assets                                                                                                         
  Gold certificate account                                                   11,037            0            0  
  Special drawing rights certificate account                                  5,200            0            0  
  Coin                                                                        1,684   +       14   -       89  
  Securities, unamortized premiums and discounts,     
     repurchase agreements, and loans                                     3,763,634   -   16,591   -  474,285  
    Securities held outright (1)                                          3,645,329   -   15,898   -  456,601  
      U.S. Treasury securities                                            2,110,256   +      172   -  267,994  
        Bills (2)                                                                 5            0   +        5  
        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)                                           23,465   +      172   +    2,236  
      Federal agency debt securities (2)                                      2,347            0   -       62  
      Mortgage-backed securities (4)                                      1,532,726   -   16,070   -  188,545  
    Unamortized premiums on securities held outright  
    (5)                                                                     131,026   -      754   -   18,707  
    Unamortized discounts on securities held outright 
    (5)                                                                     -12,905   +       31   +    1,019  
    Repurchase agreements (6)                                                     0            0            0  
    Loans                                                                       184   +       30   +        3  
  Net portfolio holdings of Maiden Lane LLC (7)                                   0            0   -    1,710  
  Items in process of collection                                   (0)           68   +       15   -      121  
  Bank premises                                                               2,191   -        1   +        3  
  Central bank liquidity swaps (8)                                               18   +        1   -       72  
  Foreign currency denominated assets (9)                                    21,060   +      249   -       33  
  Other assets (10)                                                          21,924   -      886   -    2,367  
                                                                                                               
Total assets                                                       (0)    3,826,817   -   17,199   -  478,674  

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 26, 2019   Wednesday    Wednesday  
                                                        consolidation                Jun 19, 2019 Jun 27, 2018 

Liabilities                                                                                                    
  Federal Reserve notes, net of F.R. Bank holdings                         1,694,004   +    4,348   +   76,415 
  Reverse repurchase agreements (11)                                         272,189   -   12,506   +   11,352 
  Deposits                                                          (0)    1,815,613   -    8,591   -  566,362 
    Term deposits held by depository institutions                                  0            0            0 
    Other deposits held by depository institutions                         1,508,451   +    6,927   -  432,465 
    U.S. Treasury, General Account                                           240,909   -   17,732   -  121,266 
    Foreign official                                                           5,249   +        5   -        7 
    Other (12)                                                      (0)       61,004   +    2,209   -   12,625 
  Deferred availability cash items                                  (0)          339   +      174   -      419 
  Other liabilities and accrued dividends (13)                                 5,452   -      626   +       21 
                                                                                                               
Total liabilities                                                   (0)    3,787,597   -   17,201   -  478,992 
                                                                                                               
Capital accounts                                                                                               
  Capital paid in                                                             32,395   +        3   +      319 
  Surplus                                                                      6,825            0            0 
  Other capital accounts                                                           0            0            0 
                                                                                                               
Total capital                                                                 39,220   +        3   +      319 

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 26, 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                                             1,684          39          44          145         111         220         187         279          29          47         106         189         289
  Securities, unamortized premiums and      
     discounts, repurchase agreements,      
     and loans                                 3,763,634      78,077   2,053,228       91,140     110,109     230,410     257,324     197,563      54,094      32,621      55,806     163,415     439,847
    Securities held outright (1)               3,645,329      75,627   1,988,785       88,277     106,653     223,081     249,242     191,348      52,393      31,544      54,054     158,285     426,040
      U.S. Treasury securities                 2,110,256      43,780   1,151,294       51,103      61,741     129,140     144,285     110,770      30,330      18,261      31,292      91,630     246,631
        Bills (2)                                      5           0           3            0           0           0           0           0           0           0           0           0           1
        Notes and bonds (3)                    2,110,251      43,780   1,151,291       51,103      61,741     129,140     144,284     110,770      30,330      18,260      31,292      91,630     246,631
      Federal agency debt securities (2)           2,347          49       1,280           57          69         144         160         123          34          20          35         102         274
      Mortgage-backed securities (4)           1,532,726      31,798     836,211       37,117      44,844      93,797     104,797      80,455      22,029      13,263      22,728      66,553     179,134
    Unamortized premiums on securities held 
      outright (5)                               131,026       2,718      71,484        3,173       3,833       8,018       8,959       6,878       1,883       1,134       1,943       5,689      15,313
    Unamortized discounts on securities     
      held outright (5)                          -12,905        -268      -7,041         -313        -378        -790        -882        -677        -185        -112        -191        -560      -1,508
    Repurchase agreements (6)                          0           0           0            0           0           0           0           0           0           0           0           0           0
    Loans                                            184           0           0            2           0         100           6          14           3          55           0           2           2
  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                      68           0           0            0           0           0          68           0           0           0           0           0           0
  Bank premises                                    2,191         107         457           81         118         191         206         191         104          94         229         221         192
  Central bank liquidity swaps (8)                    18           1           6            1           1           4           1           1           0           0           0           0           3
  Foreign currency denominated                                                                                                                                                                           
     assets (9)                                   21,060         907       6,684        1,217       1,681       4,490       1,225         879         321         100         204         261       3,092
  Other assets (10)                               21,924         474      11,514          530         650       1,539       1,487       1,126         366         237         399       1,059       2,543
  Interdistrict settlement account                     0  +    7,679  -  159,038   -    5,242  +    5,355  +    5,898  +   26,425  +   15,265  +    6,909  +    3,802  +    3,527  +   20,833  +   68,589
                                                                                                                                                                                                         
Total assets                                   3,826,817      87,830   1,918,420       88,407     118,793     243,918     289,137     216,439      62,301      37,178      60,716     187,150     516,527

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 26, 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            1,895,713      57,422     624,743      54,607      90,702     131,118     259,598     123,879      56,444      31,477      50,404     158,779     256,539
    Less: Notes held by F.R. Banks               201,708       6,170      49,863       8,438      10,168      15,109      31,202      12,760       6,181       3,455       8,152      19,909      30,302
      Federal Reserve notes, net               1,694,004      51,252     574,880      46,168      80,534     116,010     228,397     111,119      50,264      28,022      42,253     138,870     226,237
  Reverse repurchase agreements (11)             272,189       5,647     148,498       6,591       7,964      16,657      18,610      14,288       3,912       2,355       4,036      11,819      31,811
  Deposits                                     1,815,613      28,941   1,179,669      33,902      26,829     102,411      39,386      89,129       7,368       6,177      13,867      35,714     252,220
    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                           1,508,451      28,933     912,944      33,899      26,804     102,047      39,349      49,409       7,364       6,123      13,817      35,547     252,214
    U.S. Treasury, General Account               240,909           0     240,909           0           0           0           0           0           0           0           0           0           0
    Foreign official                               5,249           2       5,222           2           3           9           2           2           1           0           0           0           6
    Other (12)                                    61,004           7      20,594           1          21         355          35      39,719           4          54          49         167           0
  Deferred availability cash items                   339           0           0           0           0           0          59           0           0         281           0           0           0
  Earnings remittances due to the U.S.      
     Treasury (13)                                 1,048          27         495          33          48         122          93          44           9          10          18          51          99
  Other liabilities and accrued             
     dividends                                     4,404         179       1,680         186         207         549         308         286         133         145         148         208         375
                                                                                                                                                                                                        
Total liabilities                              3,787,597      86,045   1,905,221      86,881     115,581     235,748     286,853     214,866      61,686      36,989      60,322     186,661     510,743
                                                                                                                                                                                                        
Capital                                                                                                                                                                                                 
  Capital paid in                                 32,395       1,491      11,033       1,132       2,667       6,714       1,887       1,288         512         157         328         404       4,782
  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                  3,826,817      87,830   1,918,420      88,407     118,793     243,918     289,137     216,439      62,301      37,178      60,716     187,150     516,527

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 26, 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 26, 2019  

Federal Reserve notes outstanding                                                            1,895,713  
  Less: Notes held by F.R. Banks not subject to collateralization                              201,708  
    Federal Reserve notes to be collateralized                                               1,694,004  
Collateral held against Federal Reserve notes                                                1,694,004  
  Gold certificate account                                                                      11,037  
  Special drawing rights certificate account                                                     5,200  
  U.S. Treasury, agency debt, and mortgage-backed securities pledged (1,2)                   1,677,767  
  Other assets pledged                                                                               0  
Memo:                                                                                                   
Total U.S. Treasury, agency debt, and mortgage-backed securities (1,2)                       3,645,329  
  Less: Face value of securities under reverse repurchase agreements                           265,236  
    U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged        3,380,093  

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.