FEDERAL RESERVE statistical release

H.4.1

Factors Affecting Reserve Balances of Depository Institutions and

Condition Statement of Federal Reserve Banks June 6, 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

Jun 5, 2019 May 29, 2019 Jun 6, 2018

Wednesday

Jun 5, 2019

Reserve Bank credit 3,808,157 - 11,807 - 470,436 3,808,318

Securities held outright1 3,668,186 - 10,705 - 448,623 3,667,537

U.S. Treasury securities 2,110,433 - 4,257 - 267,393 2,109,785

Bills2 50 0 + 50 50

Notes and bonds, nominal2 1,971,169 - 5,396 - 270,992 1,970,270

Notes and bonds, inflation-indexed2 116,351 + 990 + 1,491 116,516

Inflation compensation3 22,863 + 149 + 2,058 22,948

Federal agency debt securities2 2,347 0 - 2,044 2,347

Mortgage-backed securities4 1,555,405 - 6,449 - 179,187 1,555,405

Unamortized premiums on securities held outright5 132,463 - 341 - 18,660 132,357

Unamortized discounts on securities held outright5 -13,005 + 9 + 1,011 -12,994

Repurchase agreements6 0 0 0 0

Loans 111 + 48 + 4 45

Primary credit 70 + 50 + 53 1

Secondary credit 0 0 0 0

Seasonal credit 42 - 1 - 48 44

Other credit extensions 0 0 0 0

Net portfolio holdings of Maiden Lane LLC7 0 0 - 1,712 0

Float -467 - 247 - 179 -448

Central bank liquidity swaps8 17 0 - 54 17

Other Federal Reserve assets9 20,852 - 570 - 2,222 21,804

Foreign currency denominated assets10 20,794 + 97 - 494 20,855

Gold stock 11,041 0 0 11,041

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

Treasury currency outstanding11 49,991 + 14 + 405 49,991

Total factors supplying reserve funds 3,895,184 - 11,696 - 470,523 3,895,406

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

Jun 5, 2019 May 29, 2019 Jun 6, 2018

Wednesday

Jun 5, 2019

Currency in circulation11 1,738,727 + 1,078 + 77,554 1,738,894

Reverse repurchase agreements12 279,713 + 12,313 + 20,798 271,706

Foreign official and international accounts 278,428 + 15,671 + 32,897 269,451

Others 1,285 - 3,358 - 12,099 2,255

Treasury cash holdings 243 - 27 0 222

Deposits with F.R. Banks, other than reserve balances 294,083 - 17,409 - 75,876 279,388

Term deposits held by depository institutions 2,700 + 2,700 + 2,700 2,700

U.S. Treasury, General Account 223,638 - 24,139 - 70,431 207,647

Foreign official 5,245 0 - 27 5,244

Other13 62,501 + 4,031 - 8,117 63,798

Other liabilities and capital14 45,328 - 31 - 509 45,486

Total factors, other than reserve balances,

absorbing reserve funds 2,358,094 - 4,075 + 21,966 2,335,696

Reserve balances with Federal Reserve Banks 1,537,089 - 7,622 - 492,490 1,559,710

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

Jun 5, 2019 May 29, 2019 Jun 6, 2018

Wednesday

Jun 5, 2019

Securities held in custody for foreign official and international

accounts 3,443,408 - 19,929 + 45,112 3,448,709

Marketable U.S. Treasury securities1 3,034,257 - 21,565 - 805 3,039,661

Federal agency debt and mortgage-backed securities2 332,569 + 893 + 44,583 332,544

Other securities3 76,582 + 743 + 1,335 76,503

Securities lent to dealers 31,438 + 9,981 + 10,267 32,783

Overnight facility4 31,438 + 9,981 + 10,267 32,783

U.S. Treasury securities 31,438 + 9,981 + 10,267 32,783

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 5, 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 4 41 0 0 0 ... 45

U.S. Treasury securities1

Holdings 50 112,451 246,840 870,714 267,697 612,032 2,109,785

Weekly changes - 20,012 + 14,630 - 4,185 + 3,305 + 1,236 + 66 - 4,959

Federal agency debt securities2

Holdings 0 0 0 0 486 1,861 2,347

Weekly changes 0 0 0 0 0 0 0

Mortgage-backed securities3

Holdings 0 0 8 306 72,427 1,482,664 1,555,405

Weekly changes 0 0 0 + 12 + 154 - 165 0

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

Central bank liquidity swaps5 17 0 0 0 0 0 17

Reverse repurchase agreements4 271,706 0 ... ... ... ... 271,706

Term deposits 2,700 0 0 ... ... ... 2,700

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 Jun 5, 2019

Mortgage-backed securities held outright1 1,555,405

Commitments to buy mortgage-backed securities2 283

Commitments to sell mortgage-backed securities2 0

Cash and cash equivalents3 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.
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

Jun 5, 2019 May 29, 2019 Jun 6, 2018

Assets

Gold certificate account 11,037 0 0

Special drawing rights certificate account 5,200 0 0

Coin 1,660 + 11 - 105

Securities, unamortized premiums and discounts,

repurchase agreements, and loans 3,786,946 - 5,149 - 467,051

Securities held outright1 3,667,537 - 4,959 - 449,319

U.S. Treasury securities 2,109,785 - 4,959 - 268,087

Bills2 50 0 + 50

Notes and bonds, nominal2 1,970,270 - 6,295 - 271,891

Notes and bonds, inflation-indexed2 116,516 + 1,155 + 1,656

Inflation compensation3 22,948 + 181 + 2,097

Federal agency debt securities2 2,347 0 - 2,044

Mortgage-backed securities4 1,555,405 0 - 179,188

Unamortized premiums on securities held outright5 132,357 - 193 - 18,670

Unamortized discounts on securities held outright5 -12,994 + 10 + 1,012

Repurchase agreements6 0 0 0

Loans 45 - 8 - 74

Net portfolio holdings of Maiden Lane LLC7 0 0 - 1,713

Items in process of collection (0) 126 - 6 + 47

Bank premises 2,189 - 6 + 2

Central bank liquidity swaps8 17 0 - 53

Foreign currency denominated assets9 20,855 + 195 - 472

Other assets10 19,614 + 1,156 - 2,202

Total assets (0) 3,847,645 - 3,799 - 471,546

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

Jun 5, 2019 May 29, 2019 Jun 6, 2018

Liabilities

Federal Reserve notes, net of F.R. Bank holdings 1,690,780 - 800 + 76,013

Reverse repurchase agreements11 271,706 + 6,289 + 11,113

Deposits (0) 1,839,098 - 10,107 - 558,747

Term deposits held by depository institutions 2,700 + 2,700 + 2,700

Other deposits held by depository institutions 1,559,710 + 24,918 - 472,255

U.S. Treasury, General Account 207,647 - 41,364 - 81,807

Foreign official 5,244 - 1 - 16

Other12 (0) 63,798 + 3,641 - 7,368

Deferred availability cash items (0) 575 - 83 + 265

Other liabilities and accrued dividends13 6,297 + 899 + 88

Total liabilities (0) 3,808,457 - 3,800 - 471,268

Capital accounts

Capital paid in 32,363 + 1 + 396

Surplus 6,825 0 - 675

Other capital accounts 0 0 0

Total capital 39,188 + 1 - 279

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, June 5, 2019

Millions of dollars

Kansas San Assets, liabilities, and capital Total Boston New York Philadelphia Cleveland Richmond Atlanta Chicago St. Louis Minneapolis City Dallas Francisco

Assets

Gold certificate account 11,037 351 3,707 327 531 754 1,560 711 328 186 292 890 1,400

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

Coin 1,660 41 37 146 110 212 179 282 28 48 105 184 287

Securities, unamortized premiums and

discounts, repurchase agreements,

and loans 3,786,946 78,564 2,066,022 91,706 110,795 231,745 258,923 198,783 54,428 32,806 56,154 164,433 442,588

Securities held outright1 3,667,537 76,087 2,000,901 88,815 107,303 224,440 250,761 192,514 52,712 31,736 54,384 159,249 428,635

U.S. Treasury securities 2,109,785 43,770 1,151,037 51,092 61,727 129,111 144,252 110,745 30,323 18,256 31,285 91,609 246,576

Bills2 50 1 27 1 1 3 3 3 1 0 1 2 6

Notes and bonds3 2,109,735 43,769 1,151,010 51,091 61,725 129,108 144,249 110,743 30,322 18,256 31,284 91,607 246,570

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

Mortgage-backed securities4 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 outright5 132,357 2,746 72,210 3,205 3,872 8,100 9,050 6,948 1,902 1,145 1,963 5,747 15,469

Unamortized discounts on securities 

held outright5 -12,994 -270 -7,089 -315 -380 -795 -888 -682 -187 -112 -193 -564 -1,519

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

Loans 45 0 0 0 0 0 1 4 0 37 0 1 2

Net portfolio holdings of Maiden

Lane LLC7 0 0 0 0 0 0 0 0 0 0 0 0 0

Items in process of collection 126 0 0 0 0 0 126 0 0 0 0 0 0

Bank premises 2,189 107 457 80 118 192 207 191 104 94 229 220 191

Central bank liquidity swaps8 17 1 5 1 1 4 1 1 0 0 0 0 2

Foreign currency denominated

assets9 20,855 898 6,620 1,205 1,665 4,446 1,213 871 318 99 202 258 3,061

Other assets10 19,614 424 10,214 472 580 1,399 1,325 1,001 487 226 357 866 2,265

Interdistrict settlement account 0 + 11,837 - 159,974 - 5,834 + 8,062 - 3,807 + 26,481 + 15,506 + 7,561 + 3,787 + 2,909 + 23,033 + 70,440

Total assets 3,847,645 92,418 1,928,906 88,312 122,099 235,356 290,669 217,770 63,403 37,336 60,400 190,166 520,808

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, June 5, 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 1,886,615 57,648 622,995 54,576 90,012 129,480 258,739 122,964 56,001 31,312 50,379 158,490 254,020

Less: Notes held by F.R. Banks 195,835 6,080 49,475 8,087 9,807 14,506 30,846 12,274 6,057 3,133 7,769 18,822 28,978

Federal Reserve notes, net 1,690,780 51,568 573,520 46,489 80,204 114,974 227,893 110,691 49,944 28,178 42,610 139,668 225,042

Reverse repurchase agreements11 271,706 5,637 148,235 6,580 7,949 16,627 18,577 14,262 3,905 2,351 4,029 11,798 31,755

Deposits 1,839,098 33,232 1,191,265 33,477 30,466 94,892 41,348 90,878 8,766 6,015 13,202 37,925 257,633

Term deposits held by depository

institutions 2,700 25 1,021 250 253 250 0 400 0 0 0 0 501

Other deposits held by depository

institutions 1,559,710 33,195 954,794 33,225 30,182 94,242 41,312 49,890 8,763 5,961 13,179 37,842 257,126

U.S. Treasury, General Account 207,647 0 207,647 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 63,798 9 22,586 1 28 391 33 40,586 3 54 23 82 0

Deferred availability cash items 575 0 0 0 0 0 127 0 0 447 1 0 0

Earnings remittances due to the U.S.

Treasury13 1,343 15 658 43 57 111 131 62 33 12 22 65 135

Other liabilities and accrued

dividends 4,954 182 2,059 193 210 579 309 313 140 143 143 223 461

Total liabilities 3,808,457 90,633 1,915,736 86,782 118,887 227,184 288,384 216,205 62,788 37,147 60,006 189,678 515,026

Capital

Capital paid in 32,363 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 3,847,645 92,418 1,928,906 88,312 122,099 235,356 290,669 217,770 63,403 37,336 60,400 190,166 520,808

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, June 5, 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 Jun 5, 2019

Federal Reserve notes outstanding 1,886,615

Less: Notes held by F.R. Banks not subject to collateralization 195,835

Federal Reserve notes to be collateralized 1,690,780

Collateral held against Federal Reserve notes 1,690,780

Gold certificate account 11,037

Special drawing rights certificate account 5,200

U.S. Treasury, agency debt, and mortgage-backed securities pledged1,2 1,674,543

Other assets pledged 0

Memo:

Total U.S. Treasury, agency debt, and mortgage-backed securities1,2 3,667,537

Less: Face value of securities under reverse repurchase agreements 258,929

U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 3,408,607

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.