FEDERAL RESERVE statistical release

H.4.1

Factors Affecting Reserve Balances of Depository Institutions and     
Condition Statement of Federal Reserve Banks                                                 January 23, 2020


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  Jan 22, 2020 
Federal Reserve Banks                                     Jan 22, 2020 Jan 15, 2020 Jan 23, 2019              

Reserve Bank credit                                         4,114,302   -   18,465   +  103,542    4,107,163  
  Securities held outright (1)                              3,778,361   +    8,441   -   75,854    3,782,010  
    U.S. Treasury securities                                2,373,053   +   13,959   +  152,906    2,381,020  
      Bills (2)                                               203,602   +   10,288   +  203,602      210,031  
      Notes and bonds, nominal (2)                          2,015,974   +    4,429   -   67,612    2,017,518  
      Notes and bonds, inflation-indexed (2)                  128,005   -      612   +   13,236      128,005  
      Inflation compensation (3)                               25,472   -      146   +    3,681       25,467  
    Federal agency debt securities (2)                          2,347            0   -       62        2,347  
    Mortgage-backed securities (4)                          1,402,961   -    5,518   -  228,698    1,398,642  
  Unamortized premiums on securities held outright (5)        124,202   -      259   -   14,986      123,974  
  Unamortized discounts on securities held outright (5)       -13,254   +       19   +       78      -13,272  
  Repurchase agreements (6)                                   196,617   -   27,233   +  196,617      186,076  
  Loans                                                             6   +        1   -       38            0  
    Primary credit                                                  6   +        2   -       34            0  
    Secondary credit                                                0            0            0            0  
    Seasonal credit                                                 0   -        1   -        3            0  
    Other credit extensions                                         0            0            0            0  
  Net portfolio holdings of Maiden Lane LLC (7)                     0            0            0            0  
  Float                                                          -116   -       12   +       20         -158  
  Central bank liquidity swaps (8)                                 54   -        5   -       32           54  
  Other Federal Reserve assets (9)                             28,431   +      582   -    2,265       28,480  
Foreign currency denominated assets (10)                       20,527   -       63   -      371       20,526  
Gold stock                                                     11,041            0            0       11,041  
Special drawing rights certificate account                      5,200            0            0        5,200  
Treasury currency outstanding (11)                             50,148   +       14   +      365       50,148  
                                                                                                              
Total factors supplying reserve funds                       4,201,219   -   18,513   +  103,537    4,194,078  

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  Jan 22, 2020 
Federal Reserve Banks                                     Jan 22, 2020 Jan 15, 2020 Jan 23, 2019              

Currency in circulation (11)                                 1,794,741   -    2,524   +   89,978    1,794,751 
Reverse repurchase agreements (12)                             262,569   -    3,878   +    5,412      265,357 
  Foreign official and international accounts                  249,157   -   16,631   +    2,943      249,753 
  Others                                                        13,412   +   12,753   +    2,468       15,604 
Treasury cash holdings                                             191   +       14   -       46          207 
Deposits with F.R. Banks, other than reserve balances          477,853   +   53,839   +    8,101      480,494 
  Term deposits held by depository institutions                      0            0            0            0 
  U.S. Treasury, General Account                               403,941   +   52,954   +   14,315      411,708 
  Foreign official                                               5,181   -        1   -      103        5,180 
  Other (13)                                                    68,731   +      885   -    6,111       63,605 
Other liabilities and capital (14)                              44,175   -      853   +      278       43,676 
                                                                                                              
Total factors, other than reserve balances,               
    absorbing reserve funds                                  2,579,529   +   46,598   +  103,723    2,584,484 
                                                                                                              
Reserve balances with Federal Reserve Banks                  1,621,689   -   65,112   -      187    1,609,594 

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  Jan 22, 2020 
                                                          Jan 22, 2020 Jan 15, 2020 Jan 23, 2019              

Securities held in custody for foreign official and       
     international accounts                                  3,413,121   -    6,622   +    4,660    3,428,153 
  Marketable U.S. Treasury securities (1)                    2,969,583   -    8,872   -   57,800    2,979,204 
  Federal agency debt and mortgage-backed securities (2)       359,906   +    1,238   +   47,805      365,247 
  Other securities (3)                                          83,632   +    1,012   +   14,656       83,701 
Securities lent to dealers                                      28,307   -    3,322   +    7,748       28,725 
  Overnight facility (4)                                        28,307   -    3,322   +    7,748       28,725 
    U.S. Treasury securities                                    28,307   -    3,322   +    7,748       28,725 
    Federal agency debt securities                                   0            0            0            0 

Note: Components may not sum to totals because of rounding.


1.  Includes securities and U.S. Treasury STRIPS at face value, and inflation compensation on TIPS.         
    Does not include securities pledged as collateral to foreign official and international account holders
    against reverse repurchase agreements with the Federal Reserve presented in tables 1, 4, and 5.     
2.  Face value of federal agency securities and current face value of mortgage-backed securities, which     
    is the remaining principal balance of the securities.                                               
3.  Includes non-marketable U.S. Treasury securities, supranationals, corporate bonds, asset-backed         
    securities, and commercial paper at face value.                                                     
4.  Face value. Fully collateralized by U.S. Treasury securities.                                           






2. Maturity Distribution of Securities, Loans, and Selected Other Assets and Liabilities, January 22, 2020    

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                                            0             0             0             0             0           ...             0 
U.S. Treasury securities (1)                                                                                                           
  Holdings                                  23,659       126,629       369,212       902,619       315,605       643,297     2,381,020 
  Weekly changes                        +    8,792    -    4,875    +   19,614    -    5,131    -        7    -        7    +   18,385 
Federal agency debt securities (2)                                                                                                     
  Holdings                                       0             0             0             0         1,151         1,196         2,347 
  Weekly changes                                 0             0             0             0    +      665    -      665             0 
Mortgage-backed securities (3)                                                                                                         
  Holdings                                       0             1            14         1,235        73,118     1,324,274     1,398,642 
  Weekly changes                                 0             0             0    +       94    +      136    -    5,906    -    5,676 
Repurchase agreements (4)                  186,076             0           ...           ...           ...           ...       186,076 
Central bank liquidity swaps (5)                54             0             0             0             0             0            54 
                                                                                                                                       
Reverse repurchase agreements (4)          265,357             0           ...           ...           ...           ...       265,357 
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   
                                                                                                                      Jan 22, 2020  

Mortgage-backed securities held outright (1)                                                                             1,398,642  
                                                                                                                                    
Commitments to buy mortgage-backed securities (2)                                                                            3,966  
Commitments to sell mortgage-backed securities (2)                                                                               0  
                                                                                                                                    
Cash and cash equivalents (3)                                                                                                    3  



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       Jan 22, 2020   Wednesday    Wednesday  
                                                        consolidation                Jan 15, 2020 Jan 23, 2019 

Assets                                                                                                         
  Gold certificate account                                                   11,037            0            0  
  Special drawing rights certificate account                                  5,200            0            0  
  Coin                                                                        1,744   +       31   -       36  
  Securities, unamortized premiums and discounts,     
     repurchase agreements, and loans                                     4,078,787   -   31,179   +  101,675  
    Securities held outright (1)                                          3,782,010   +   12,710   -   69,409  
      U.S. Treasury securities                                            2,381,020   +   18,385   +  160,905  
        Bills (2)                                                           210,031   +   15,002   +  210,031  
        Notes and bonds, nominal (2)                                      2,017,518   +    3,402   -   66,068  
        Notes and bonds, inflation-indexed (2)                              128,005            0   +   13,236  
        Inflation compensation (3)                                           25,467   -       18   +    3,707  
      Federal agency debt securities (2)                                      2,347            0   -       62  
      Mortgage-backed securities (4)                                      1,398,642   -    5,676   -  230,253  
    Unamortized premiums on securities held outright  
    (5)                                                                     123,974   -      436   -   15,022  
    Unamortized discounts on securities held outright 
    (5)                                                                     -13,272   -       51   +       50  
    Repurchase agreements (6)                                               186,076   -   43,392   +  186,076  
    Loans                                                                         0   -        9   -       19  
  Net portfolio holdings of Maiden Lane LLC (7)                                   0            0            0  
  Items in process of collection                                   (0)           84   -        7   -      122  
  Bank premises                                                               2,200   +        1   -        5  
  Central bank liquidity swaps (8)                                               54   -        5   -       32  
  Foreign currency denominated assets (9)                                    20,526   -       81   -      404  
  Other assets (10)                                                          26,280   +    1,302   -    2,217  
                                                                                                               
Total assets                                                       (0)    4,145,912   -   29,938   +   98,860  

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       Jan 22, 2020   Wednesday    Wednesday  
                                                        consolidation                Jan 15, 2020 Jan 23, 2019 

Liabilities                                                                                                    
  Federal Reserve notes, net of F.R. Bank holdings                         1,746,549   -      939   +   89,468 
  Reverse repurchase agreements (11)                                         265,357   +    4,444   +   11,740 
  Deposits                                                          (0)    2,090,087   -   32,970   -    2,064 
    Term deposits held by depository institutions                                  0            0            0 
    Other deposits held by depository institutions                         1,609,594   -   63,768   -    2,124 
    U.S. Treasury, General Account                                           411,708   +   30,906   +    9,481 
    Foreign official                                                           5,180   -        1   -       63 
    Other (12)                                                      (0)       63,605   -      107   -    9,358 
  Deferred availability cash items                                  (0)          242   +       90   -      189 
  Other liabilities and accrued dividends (13)                                 5,153   -      565   +      513 
                                                                                                               
Total liabilities                                                   (0)    4,107,390   -   29,937   +   99,471 
                                                                                                               
Capital accounts                                                                                               
  Capital paid in                                                             31,698            0   -      610 
  Surplus                                                                      6,825            0            0 
  Other capital accounts                                                           0            0            0 
                                                                                                               
Total capital                                                                 38,523            0   -      610 

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, January 22, 2020
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                                             1,744          41          48          153         103         231         179         286          33          50         117         202         302
  Securities, unamortized premiums and      
     discounts, repurchase agreements,      
     and loans                                 4,078,787      84,619   2,225,267       98,774     119,335     249,607     278,879     214,101      58,623      35,295      60,482     177,106     476,699
    Securities held outright (1)               3,782,010      78,462   2,063,354       91,587     110,652     231,445     258,588     198,523      54,357      32,727      56,081     164,219     442,014
      U.S. Treasury securities                 2,381,020      49,397   1,299,015       57,660      69,663     145,710     162,798     124,983      34,222      20,604      35,307     103,387     278,276
        Bills (2)                                210,031       4,357     114,587        5,086       6,145      12,853      14,360      11,025       3,019       1,817       3,114       9,120      24,547
        Notes and bonds (3)                    2,170,989      45,040   1,184,428       52,574      63,518     132,857     148,437     113,958      31,203      18,786      32,192      94,267     253,730
      Federal agency debt securities (2)           2,347          49       1,280           57          69         144         160         123          34          20          35         102         274
      Mortgage-backed securities (4)           1,398,642      29,016     763,058       33,870      40,921      85,592      95,629      73,417      20,102      12,103      20,740      60,731     163,463
    Unamortized premiums on securities held 
      outright (5)                               123,974       2,572      67,636        3,002       3,627       7,587       8,476       6,508       1,782       1,073       1,838       5,383      14,489
    Unamortized discounts on securities     
      held outright (5)                          -13,272        -275      -7,241         -321        -388        -812        -907        -697        -191        -115        -197        -576      -1,551
    Repurchase agreements (6)                    186,076       3,860     101,518        4,506       5,444      11,387      12,723       9,767       2,674       1,610       2,759       8,080      21,747
    Loans                                              0           0           0            0           0           0           0           0           0           0           0           0           0
  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                      84           0           0            0           0           0          83           0           0           1           0           0           0
  Bank premises                                    2,200         105         456           91         117         192         203         194         102          93         228         224         196
  Central bank liquidity swaps (8)                    54           2          17            3           4          11           3           2           1           0           1           1           8
  Foreign currency denominated                                                                                                                                                                           
     assets (9)                                   20,526         884       6,515        1,186       1,638       4,376       1,194         857         313          98         199         254       3,013
  Other assets (10)                               26,280         561      13,855          629         783       1,840       1,778       1,348         460         268         480       1,244       3,033
  Interdistrict settlement account                     0  +    7,478  -   59,761   -   11,532  +    3,349  -    2,875  +   19,514  +    8,274  +    7,321  +    4,057  +    5,949  +   15,106  +    3,118
                                                                                                                                                                                                         
Total assets                                   4,145,912      94,238   2,191,921       89,843     126,098     254,549     304,046     226,197      67,331      40,138      67,900     195,309     488,343

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, January 22, 2020 (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            1,956,470      60,897     640,111      57,569      93,910     134,159     273,545     126,543      59,466      32,074      54,185     164,236     259,775
    Less: Notes held by F.R. Banks               209,921       5,999      49,719       8,630      10,012      17,153      32,573      13,128       5,440       2,905       7,135      20,289      36,937
      Federal Reserve notes, net               1,746,549      54,898     590,392      48,939      83,897     117,006     240,972     113,416      54,026      29,169      47,051     143,947     222,838
  Reverse repurchase agreements (11)             265,357       5,505     144,771       6,426       7,764      16,239      18,143      13,929       3,814       2,296       3,935      11,522      31,013
  Deposits                                     2,090,087      31,843   1,441,827      32,745      30,975     112,612      42,489      97,001       8,709       8,077      16,338      39,108     228,365
    Term deposits held by depository        
        institutions                                   0           0           0           0           0           0           0           0           0           0           0           0           0
    Other deposits held by depository       
        institutions                           1,609,594      31,831   1,002,493      32,743      30,941     112,016      42,455      56,691       8,706       8,015      16,300      39,043     228,359
    U.S. Treasury, General Account               411,708           0     411,708           0           0           0           0           0           0           0           0           0           0
    Foreign official                               5,180           2       5,153           2           3           9           2           2           1           0           0           0           6
    Other (12)                                    63,605          10      22,473           0          30         588          31      40,308           2          62          37          64           0
  Deferred availability cash items                   242           0           0           0           0           0          88           0           0         155           0           0           0
  Earnings remittances due to the U.S.      
     Treasury (13)                                 1,180          10         462         184           2          66         179          71          25           4          11          85          82
  Other liabilities and accrued             
     dividends                                     3,973         153       1,524         162         168         495         266         284         127         136         160         189         310
                                                                                                                                                                                                        
Total liabilities                              4,107,390      92,409   2,178,975      88,456     122,806     246,419     302,136     224,701      66,699      39,837      67,494     194,852     482,607
                                                                                                                                                                                                        
Capital                                                                                                                                                                                                 
  Capital paid in                                 31,698       1,505      10,653       1,141       2,709       6,690       1,572       1,230         519         248         334         377       4,720
  Surplus                                          6,825         324       2,294         246         583       1,441         338         265         112          53          72          81       1,016
  Other capital                                        0           0           0           0           0           0           0           0           0           0           0           0           0
                                                                                                                                                                                                        
Total liabilities and capital                  4,145,912      94,238   2,191,921      89,843     126,098     254,549     304,046     226,197      67,331      40,138      67,900     195,309     488,343

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, January 22, 2020 (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   
                                                                                          Jan 22, 2020  

Federal Reserve notes outstanding                                                            1,956,470  
  Less: Notes held by F.R. Banks not subject to collateralization                              209,921  
    Federal Reserve notes to be collateralized                                               1,746,549  
Collateral held against Federal Reserve notes                                                1,746,549  
  Gold certificate account                                                                      11,037  
  Special drawing rights certificate account                                                     5,200  
  U.S. Treasury, agency debt, and mortgage-backed securities pledged (1,2)                   1,730,313  
  Other assets pledged                                                                               0  
Memo:                                                                                                   
Total U.S. Treasury, agency debt, and mortgage-backed securities (1,2)                       3,968,086  
  Less: Face value of securities under reverse repurchase agreements                           259,845  
    U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged        3,708,240  

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.