FEDERAL RESERVE statistical release

H.4.1

Factors Affecting Reserve Balances of Depository Institutions and

Condition Statement of Federal Reserve Banks February 7, 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

Feb 6, 2019 Jan 30, 2019 Feb 7, 2018

Wednesday

Feb 6, 2019

Reserve Bank credit 3,986,333 - 14,486 - 393,126 3,987,152

Securities held outright1 3,829,971 - 15,309 - 371,363 3,829,930

U.S. Treasury securities 2,205,753 - 14,297 - 230,446 2,205,713

Bills2 0 0 0 0

Notes and bonds, nominal2 2,069,396 - 14,190 - 238,195 2,069,396

Notes and bonds, inflation-indexed2 114,769 0 + 5,356 114,769

Inflation compensation3 21,588 - 106 + 2,394 21,548

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

Mortgage-backed securities4 1,621,809 - 1,013 - 138,934 1,621,809

Unamortized premiums on securities held outright5 138,375 - 286 - 18,787 138,281

Unamortized discounts on securities held outright5 -13,269 + 32 + 805 -13,258

Repurchase agreements6 0 0 0 0

Loans 15 - 9 - 2 16

Primary credit 4 - 14 - 4 2

Secondary credit 0 0 0 0

Seasonal credit 10 + 4 + 1 14

Other credit extensions 0 0 0 0

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

Float -243 + 58 - 97 -192

Central bank liquidity swaps8 66 - 10 + 27 66

Other Federal Reserve assets9 31,418 + 1,038 - 1,995 32,308

Foreign currency denominated assets10 20,989 + 51 - 1,058 20,894

Gold stock 11,041 0 0 11,041

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

Treasury currency outstanding11 49,871 + 14 + 431 49,871

Total factors supplying reserve funds 4,073,433 - 14,422 - 393,754 4,074,157

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

Feb 6, 2019 Jan 30, 2019 Feb 7, 2018

Wednesday

Feb 6, 2019

Currency in circulation11 1,703,445 + 750 + 94,405 1,705,408

Reverse repurchase agreements12 256,967 + 9,396 - 20,188 248,230

Foreign official and international accounts 255,371 + 11,186 + 23,925 246,304

Others 1,596 - 1,790 - 44,113 1,926

Treasury cash holdings 260 + 9 - 8 267

Deposits with F.R. Banks, other than reserve balances 420,514 - 54,625 + 131,595 417,800

Term deposits held by depository institutions 0 0 0 0

U.S. Treasury, General Account 352,375 - 50,901 + 148,439 353,896

Foreign official 5,244 0 - 10 5,244

Other13 62,896 - 3,723 - 16,833 58,660

Other liabilities and capital14 43,692 - 969 - 3,269 43,589

Total factors, other than reserve balances,

absorbing reserve funds 2,424,880 - 45,436 + 202,537 2,415,294

Reserve balances with Federal Reserve Banks 1,648,553 + 31,014 - 596,292 1,658,863

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

Feb 6, 2019 Jan 30, 2019 Feb 7, 2018

Wednesday

Feb 6, 2019

Securities held in custody for foreign official and international

accounts 3,426,917 + 12,861 + 39,373 3,426,061

Marketable U.S. Treasury securities1 3,037,125 + 11,467 - 8,813 3,036,368

Federal agency debt and mortgage-backed securities2 319,245 + 310 + 56,839 319,245

Other securities3 70,546 + 1,084 - 8,654 70,448

Securities lent to dealers 22,452 + 3,216 - 4,039 19,177

Overnight facility4 22,452 + 3,216 - 4,039 19,177

U.S. Treasury securities 22,452 + 3,216 - 4,039 19,177

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, February 6, 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 2 14 0 0 0 ... 16

U.S. Treasury securities1

Holdings 43,523 66,834 275,448 942,603 259,314 617,990 2,205,713

Weekly changes + 29,332 - 43,523 + 14,682 - 14,699 - 40 - 51 - 14,299

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 64,907 1,556,683 1,621,809

Weekly changes 0 0 0 + 7 + 435 - 443 0

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

Central bank liquidity swaps5 66 0 0 0 0 0 66

Reverse repurchase agreements4 248,230 0 ... ... ... ... 248,230

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 Feb 6, 2019

Mortgage-backed securities held outright1 1,621,809

Commitments to buy mortgage-backed securities2 400

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

Feb 6, 2019 Jan 30, 2019 Feb 7, 2018

Assets

Gold certificate account 11,037 0 0

Special drawing rights certificate account 5,200 0 0

Coin 1,811 + 10 - 146

Securities, unamortized premiums and discounts,

repurchase agreements, and loans 3,954,970 - 14,542 - 389,403

Securities held outright1 3,829,930 - 14,299 - 371,397

U.S. Treasury securities 2,205,713 - 14,299 - 230,479

Bills2 0 0 0

Notes and bonds, nominal2 2,069,396 - 14,190 - 238,195

Notes and bonds, inflation-indexed2 114,769 0 + 5,356

Inflation compensation3 21,548 - 108 + 2,361

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

Mortgage-backed securities4 1,621,809 0 - 138,934

Unamortized premiums on securities held outright5 138,281 - 257 - 18,797

Unamortized discounts on securities held outright5 -13,258 + 31 + 805

Repurchase agreements6 0 0 0

Loans 16 - 18 - 15

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

Items in process of collection (0) 66 - 27 - 78

Bank premises 2,199 - 8 0

Central bank liquidity swaps8 66 - 11 + 27

Foreign currency denominated assets9 20,894 - 57 - 1,026

Other assets10 30,108 + 1,308 - 2,054

Total assets (0) 4,026,350 - 13,328 - 394,395

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

Feb 6, 2019 Jan 30, 2019 Feb 7, 2018

Liabilities

Federal Reserve notes, net of F.R. Bank holdings 1,657,611 + 2,034 + 92,278

Reverse repurchase agreements11 248,230 - 1,006 - 32,310

Deposits (0) 2,076,663 - 12,502 - 451,285

Term deposits held by depository institutions 0 0 0

Other deposits held by depository institutions 1,658,863 + 49,723 - 581,151

U.S. Treasury, General Account 353,896 - 57,488 + 151,675

Foreign official 5,244 + 2 - 9

Other12 (0) 58,660 - 4,739 - 21,800

Deferred availability cash items (0) 257 - 927 - 25

Other liabilities and accrued dividends13 4,438 - 938 - 700

Total liabilities (0) 3,987,200 - 13,338 - 392,042

Capital accounts

Capital paid in 32,326 + 11 + 823

Surplus 6,825 0 - 3,175

Other capital accounts 0 0 0

Total capital 39,151 + 11 - 2,352

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, February 6, 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 1,811 50 49 155 126 237 196 293 32 47 115 207 302

Securities, unamortized premiums and

discounts, repurchase agreements,

and loans 3,954,970 75,535 2,183,442 99,854 112,124 234,039 237,403 211,827 52,654 33,010 62,260 163,536 489,285

Securities held outright1 3,829,930 73,148 2,114,419 96,698 108,580 226,640 229,898 205,123 50,989 31,961 60,292 158,367 473,816

U.S. Treasury securities 2,205,713 42,127 1,217,724 55,690 62,533 130,526 132,402 118,133 29,365 18,407 34,723 91,206 272,878

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

Notes and bonds3 2,205,713 42,127 1,217,724 55,690 62,533 130,526 132,402 118,133 29,365 18,407 34,723 91,206 272,878

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

Mortgage-backed securities4 1,621,809 30,975 895,364 40,947 45,979 95,972 97,352 86,861 21,592 13,534 25,531 67,061 200,641

Unamortized premiums on securities 

held outright5 138,281 2,641 76,342 3,491 3,920 8,183 8,301 7,406 1,841 1,154 2,177 5,718 17,107

Unamortized discounts on securities 

held outright5 -13,258 -253 -7,319 -335 -376 -785 -796 -710 -177 -111 -209 -548 -1,640

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

Loans 16 0 1 0 0 0 0 8 0 6 0 0 1

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 66 0 0 0 0 0 65 0 0 0 0 0 0

Bank premises 2,199 109 454 81 118 195 207 193 106 95 231 220 192

Central bank liquidity swaps8 66 3 21 4 5 14 4 3 1 0 1 1 10

Foreign currency denominated

assets9 20,894 889 6,588 1,187 1,686 4,513 1,207 886 301 96 207 259 3,075

Other assets10 30,108 604 16,144 756 872 2,012 1,808 1,585 509 315 552 1,269 3,681

Interdistrict settlement account 0 + 5,929 - 41,253 - 3,620 + 4,661 - 8,669 + 36,069 - 5,813 + 9,062 + 2,430 - 1,965 + 11,652 - 8,484

Total assets 4,026,350 83,680 2,170,888 98,977 120,373 233,526 279,104 210,137 63,150 36,283 61,861 178,332 490,040

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, February 6, 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 1,867,743 57,686 619,184 54,806 89,408 125,982 260,828 121,680 55,851 31,397 49,746 151,047 250,129

Less: Notes held by F.R. Banks 210,133 6,695 55,682 7,589 10,159 15,168 32,914 14,859 5,589 3,050 6,417 18,896 33,116

Federal Reserve notes, net 1,657,611 50,991 563,503 47,217 79,249 110,814 227,914 106,821 50,262 28,347 43,329 132,151 217,013

Reverse repurchase agreements11 248,230 4,741 137,042 6,267 7,037 14,689 14,900 13,295 3,305 2,071 3,908 10,264 30,710

Deposits 2,076,663 26,094 1,456,291 43,044 30,763 99,160 33,586 88,081 8,820 5,349 14,089 35,197 236,190

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 1,658,863 26,078 1,079,366 43,041 30,731 98,797 33,550 47,816 8,810 5,298 14,074 35,119 236,183

U.S. Treasury, General Account 353,896 0 353,896 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

Other12 58,660 14 17,812 1 28 354 34 40,263 10 51 15 78 1

Deferred availability cash items 257 0 0 0 0 0 70 0 0 188 0 0 0

Earnings remittances due to the U.S.

Treasury13 573 13 134 17 29 42 84 35 27 8 48 51 85

Other liabilities and accrued

dividends 3,865 154 1,493 169 168 469 266 267 126 134 123 197 300

Total liabilities 3,987,200 81,992 2,158,462 96,714 117,247 225,175 276,821 208,498 62,540 36,097 61,496 177,860 484,297

Capital

Capital paid in 32,326 1,393 10,260 1,868 2,581 6,896 1,886 1,353 506 154 298 388 4,741

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 4,026,350 83,680 2,170,888 98,977 120,373 233,526 279,104 210,137 63,150 36,283 61,861 178,332 490,040

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, February 6, 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 Feb 6, 2019

Federal Reserve notes outstanding 1,867,743

Less: Notes held by F.R. Banks not subject to collateralization 210,133

Federal Reserve notes to be collateralized 1,657,611

Collateral held against Federal Reserve notes 1,657,611

Gold certificate account 11,037

Special drawing rights certificate account 5,200

U.S. Treasury, agency debt, and mortgage-backed securities pledged1,2 1,641,374

Other assets pledged 0

Memo:

Total U.S. Treasury, agency debt, and mortgage-backed securities1,2 3,829,930

Less: Face value of securities under reverse repurchase agreements 246,764

U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 3,583,166

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.