FEDERAL RESERVE statistical release

H.4.1

Factors Affecting Reserve Balances of Depository Institutions and

Condition Statement of Federal Reserve Banks June 13, 2019

1. Factors Affecting Reserve Balances of Depository Institutions

Millions of dollars

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 12, 2019 Jun 5, 2019 Jun 13, 2018

Wednesday

Jun 12, 2019

Reserve Bank credit 3,810,060 + 1,903 - 471,573 3,810,819

Securities held outright1 3,667,646 - 540 - 449,742 3,667,709

U.S. Treasury securities 2,109,894 - 539 - 268,058 2,109,957

Bills2 50 0 + 50 50

Notes and bonds, nominal2 1,970,270 - 899 - 271,891 1,970,270

Notes and bonds, inflation-indexed2 116,516 + 165 + 1,656 116,516

Inflation compensation3 23,057 + 194 + 2,126 23,120

Federal agency debt securities2 2,347 0 - 1,761 2,347

Mortgage-backed securities4 1,555,405 0 - 179,923 1,555,405

Unamortized premiums on securities held outright5 132,248 - 215 - 18,668 132,190

Unamortized discounts on securities held outright5 -12,976 + 29 + 1,013 -12,966

Repurchase agreements6 0 0 0 0

Loans 49 - 62 - 74 53

Primary credit 2 - 68 - 15 5

Secondary credit 0 0 0 0

Seasonal credit 47 + 5 - 59 48

Other credit extensions 0 0 0 0

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

Float -175 + 292 + 4 -278

Central bank liquidity swaps8 22 + 5 - 69 22

Other Federal Reserve assets9 23,246 + 2,394 - 2,325 24,090

Foreign currency denominated assets10 20,927 + 133 - 423 20,911

Gold stock 11,041 0 0 11,041

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

Treasury currency outstanding11 49,981 + 14 + 388 49,981

Total factors supplying reserve funds 3,897,210 + 2,050 - 471,607 3,897,952

Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table.
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 12, 2019 Jun 5, 2019 Jun 13, 2018

Wednesday

Jun 12, 2019

Currency in circulation11 1,737,295 - 1,408 + 76,396 1,738,366

Reverse repurchase agreements12 271,411 - 8,302 + 27,326 264,330

Foreign official and international accounts 269,589 - 8,839 + 28,826 262,625

Others 1,822 + 537 - 1,500 1,705

Treasury cash holdings 221 - 22 - 14 213

Deposits with F.R. Banks, other than reserve balances 256,096 - 37,987 - 104,479 240,460

Term deposits held by depository institutions 0 - 2,700 0 0

U.S. Treasury, General Account 187,560 - 36,078 - 93,628 173,062

Foreign official 5,277 + 32 + 22 5,244

Other13 63,260 + 759 - 10,872 62,154

Other liabilities and capital14 45,223 - 105 - 531 44,845

Total factors, other than reserve balances,

absorbing reserve funds 2,310,247 - 47,823 - 1,301 2,288,215

Reserve balances with Federal Reserve Banks 1,586,963 + 49,874 - 470,306 1,609,738

Note: Components may not sum to totals because of rounding.

1. Includes securities lent to dealers under the overnight securities lending facility; refer to table 1A.

2. Face value of the securities.

3. Compensation that adjusts for the effect of inflation on the original face value of inflation-indexed securities.

4. Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. The current face value shown is the remaining principal balance of

the securities.

5. Reflects the premium or discount, which is the difference between the purchase price and the face value of the securities that has not been

amortized. For U.S. Treasury securities, Federal agency debt securities, and mortgage-backed securities, amortization is on an effective-interest

basis.

6. Cash value of agreements.

7. Refer to the note on consolidation accompanying table 5.

8. Dollar value of foreign currency held under these agreements valued at the exchange rate to be used when the foreign currency is returned

to the foreign central bank. This exchange rate equals the market exchange rate used when the foreign currency was acquired from the

foreign central bank.

9. Includes accrued interest, which represents the daily accumulation of interest earned, and other accounts receivable. Also, includes Reserve

Bank premises and equipment net of allowances for depreciation.

10. Revalued daily at current foreign currency exchange rates.

11. Estimated.

12. Cash value of agreements, which are collateralized by U.S. Treasury securities, federal agency debt securities, and mortgage-backed securities.

13. Includes deposits held at the Reserve Banks by international and multilateral organizations, government-sponsored enterprises, designated financial

market utilities, and deposits held by depository institutions in joint accounts in connection with their participation in certain private-sector payment

arrangements. Also includes certain deposit accounts other than the U.S. Treasury, General Account, for services provided by the Reserve Banks

as fiscal agents of the United States.

14. Includes the liability for earnings remittances due to the U.S. Treasury.

Sources: Federal Reserve Banks and the U.S. Department of the Treasury.
H.4.1

1A. Memorandum Items

Millions of dollars

Averages of daily figures

Memorandum item Week ended Change from week ended

Jun 12, 2019 Jun 5, 2019 Jun 13, 2018

Wednesday

Jun 12, 2019

Securities held in custody for foreign official and international

accounts 3,461,113 + 17,705 + 59,575 3,467,033

Marketable U.S. Treasury securities1 3,051,494 + 17,237 + 12,936 3,057,071

Federal agency debt and mortgage-backed securities2 332,930 + 361 + 44,806 333,087

Other securities3 76,690 + 108 + 1,834 76,875

Securities lent to dealers 31,264 - 174 + 9,273 32,392

Overnight facility4 31,264 - 174 + 9,273 32,392

U.S. Treasury securities 31,264 - 174 + 9,273 32,392

Federal agency debt securities 0 0 0 0

Note: Components may not sum to totals because of rounding.

1. Includes securities and U.S. Treasury STRIPS at face value, and inflation compensation on TIPS. Does not include securities pledged as collateral

to foreign official and international account holders against reverse repurchase agreements with the Federal Reserve presented in tables 1, 4, and 5.

2. Face value of federal agency securities and current face value of mortgage-backed securities, which is the remaining principal balance of the

securities.

3. Includes non-marketable U.S. Treasury securities, supranationals, corporate bonds, asset-backed securities, and commercial paper at face value.

4. Face value. Fully collateralized by U.S. Treasury securities.

2. Maturity Distribution of Securities, Loans, and Selected Other Assets and Liabilities, June 12, 2019

Millions of dollars

Remaining Maturity Within 15

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 8 45 0 0 0 ... 53

U.S. Treasury securities1

Holdings 45 112,457 246,842 870,738 267,777 612,098 2,109,957

Weekly changes - 5 + 6 + 2 + 24 + 80 + 66 + 172

Federal agency debt 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 0 0 0 0

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

Central bank liquidity swaps5 22 0 0 0 0 0 22

Reverse repurchase agreements4 264,330 0 ... ... ... ... 264,330

Term deposits 0 0 0 ... ... ... 0

Note: Components may not sum to totals because of rounding.

...Not applicable.

1. Face value. For inflation-indexed securities, includes the original face value and compensation that adjusts for the effect of inflation on the

original face value of such securities.

2. Face value.

3. Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. The current face value shown is the remaining principal balance of the securities.

4. Cash value of agreements.

5. Dollar value of foreign currency held under these agreements valued at the exchange rate to be used when the foreign currency is returned to

the foreign central bank. This exchange rate equals the market exchange rate used when the foreign currency was acquired from the foreign

central bank.
H.4.1

3. Supplemental Information on Mortgage-Backed Securities

Millions of dollars

Wednesday Account name Jun 12, 2019

Mortgage-backed securities held outright1 1,555,405

Commitments to buy mortgage-backed securities2 377

Commitments to sell mortgage-backed securities2 0

Cash and cash equivalents3 1

1. Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. The current face value shown is the remaining principal balance of the securities.

2. Current face value. Generally settle within 180 days and include commitments associated with outright transactions, dollar rolls, and coupon swaps.

3. This amount is included in other Federal Reserve assets in table 1 and in other assets in table 4 and table 5.
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 12, 2019 Jun 5, 2019 Jun 13, 2018

Assets

Gold certificate account 11,037 0 0

Special drawing rights certificate account 5,200 0 0

Coin 1,667 + 7 - 104

Securities, unamortized premiums and discounts,

repurchase agreements, and loans 3,786,985 + 39 - 470,240

Securities held outright1 3,667,709 + 172 - 452,432

U.S. Treasury securities 2,109,957 + 172 - 268,041

Bills2 50 0 + 50

Notes and bonds, nominal2 1,970,270 0 - 271,891

Notes and bonds, inflation-indexed2 116,516 0 + 1,656

Inflation compensation3 23,120 + 172 + 2,143

Federal agency debt securities2 2,347 0 - 62

Mortgage-backed securities4 1,555,405 0 - 184,328

Unamortized premiums on securities held outright5 132,190 - 167 - 18,711

Unamortized discounts on securities held outright5 -12,966 + 28 + 1,019

Repurchase agreements6 0 0 0

Loans 53 + 8 - 115

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

Items in process of collection (0) 43 - 83 - 55

Bank premises 2,192 + 3 + 4

Central bank liquidity swaps8 22 + 5 - 69

Foreign currency denominated assets9 20,911 + 56 - 391

Other assets10 21,898 + 2,284 - 2,383

Total assets (0) 3,849,955 + 2,310 - 474,951

Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table.
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 12, 2019 Jun 5, 2019 Jun 13, 2018

Liabilities

Federal Reserve notes, net of F.R. Bank holdings 1,690,261 - 519 + 76,146

Reverse repurchase agreements11 264,330 - 7,376 + 24,672

Deposits (0) 1,850,198 + 11,100 - 574,609

Term deposits held by depository institutions 0 - 2,700 0

Other deposits held by depository institutions 1,609,738 + 50,028 - 453,300

U.S. Treasury, General Account 173,062 - 34,585 - 109,906

Foreign official 5,244 0 - 11

Other12 (0) 62,154 - 1,644 - 11,392

Deferred availability cash items (0) 321 - 254 + 7

Other liabilities and accrued dividends13 5,656 - 641 - 780

Total liabilities (0) 3,810,767 + 2,310 - 474,564

Capital accounts

Capital paid in 32,364 + 1 + 288

Surplus 6,825 0 - 675

Other capital accounts 0 0 0

Total capital 39,189 + 1 - 387

Note: Components may not sum to totals because of rounding.

1. Includes securities lent to dealers under the overnight securities lending facility; refer to table 1A.

2. Face value of the securities.

3. Compensation that adjusts for the effect of inflation on the original face value of inflation-indexed securities.

4. Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. The current face value shown is the remaining principal balance of the securities.

5. Reflects the premium or discount, which is the difference between the purchase price and the face value of the securities that has not been

amortized. For U.S. Treasury securities, Federal agency debt securities, and mortgage-backed securities, amortization is on an effective-interest

basis.

6. Cash value of agreements, which are collateralized by U.S. Treasury and federal agency securities.

7. Refer to the note on consolidation accompanying table 5.

8. Dollar value of foreign currency held under these agreements valued at the exchange rate to be used when the foreign currency is returned to

the foreign central bank. This exchange rate equals the market exchange rate used when the foreign currency was acquired from the foreign

central bank.

9. Revalued daily at current foreign currency exchange rates.

10. Includes accrued interest, which represents the daily accumulation of interest earned, and other accounts receivable.

11. Cash value of agreements, which are collateralized by U.S. Treasury securities, federal agency debt securities, and mortgage-backed securities.

12. Includes deposits held at the Reserve Banks by international and multilateral organizations, government-sponsored enterprises, designated financial

market utilities, and deposits held by depository institutions in joint accounts in connection with their participation in certain private-sector payment

arrangements. Also includes certain deposit accounts other than the U.S. Treasury, General Account, for services provided by the Reserve Banks

as fiscal agents of the United States.

13. Includes the liability for earnings remittances due to the U.S. Treasury.
H.4.1

5. Statement of Condition of Each Federal Reserve Bank, June 12, 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 1,667 41 33 145 111 217 181 281 30 47 104 188 290

Securities, unamortized premiums and

discounts, repurchase agreements,

and loans 3,786,985 78,564 2,066,040 91,707 110,796 231,747 258,928 198,788 54,428 32,806 56,154 164,434 442,593

Securities held outright1 3,667,709 76,091 2,000,995 88,819 107,308 224,451 250,772 192,523 52,715 31,738 54,386 159,256 428,655

U.S. Treasury securities 2,109,957 43,774 1,151,131 51,096 61,732 129,122 144,264 110,755 30,326 18,258 31,287 91,617 246,596

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

Notes and bonds3 2,109,907 43,772 1,151,103 51,095 61,731 129,119 144,261 110,752 30,325 18,257 31,286 91,615 246,591

Federal agency debt 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 132,190 2,742 72,119 3,201 3,868 8,090 9,038 6,939 1,900 1,144 1,960 5,740 15,449

Unamortized discounts on securities 

held outright5 -12,966 -269 -7,074 -314 -379 -793 -887 -681 -186 -112 -192 -563 -1,515

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

Loans 53 0 1 0 0 0 4 7 0 37 0 1 4

Net portfolio holdings of Maiden

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

Items in process of collection 43 0 0 0 0 0 43 0 0 0 0 0 0

Bank premises 2,192 107 457 81 118 192 207 191 104 94 229 221 191

Central bank liquidity swaps8 22 1 7 1 2 5 1 1 0 0 0 0 3

Foreign currency denominated

assets9 20,911 900 6,637 1,208 1,669 4,458 1,216 873 319 99 202 259 3,070

Other assets10 21,898 469 11,442 525 646 1,538 1,480 1,118 516 253 396 987 2,528

Interdistrict settlement account 0 + 4,315 - 160,834 - 8,271 + 13,816 + 4,466 + 27,229 + 14,968 + 6,688 + 3,998 + 2,896 + 21,374 + 69,357

Total assets 3,849,955 84,944 1,929,306 85,934 127,926 243,789 291,498 217,354 62,563 37,575 60,426 188,634 520,006

Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table.
H.4.1

5. Statement of Condition of Each Federal Reserve Bank, June 12, 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 1,889,631 57,581 624,085 54,582 90,182 130,034 258,749 123,270 55,958 31,384 50,335 158,413 255,058

Less: Notes held by F.R. Banks 199,370 6,217 49,385 8,225 10,120 14,853 31,099 12,700 6,127 3,166 7,901 19,776 29,802

Federal Reserve notes, net 1,690,261 51,364 574,700 46,357 80,062 115,182 227,650 110,571 49,831 28,219 42,434 138,637 225,256

Reverse repurchase agreements11 264,330 5,484 144,211 6,401 7,734 16,176 18,073 13,875 3,799 2,287 3,920 11,478 30,893

Deposits 1,850,198 26,110 1,194,852 31,429 36,669 103,649 43,037 91,002 8,158 6,445 13,507 37,755 257,585

Term deposits held by depository

institutions 0 0 0 0 0 0 0 0 0 0 0 0 0

Other deposits held by depository

institutions 1,609,738 26,101 994,986 31,426 36,637 103,413 43,002 50,904 8,152 6,385 13,486 37,667 257,578

U.S. Treasury, General Account 173,062 0 173,062 0 0 0 0 0 0 0 0 0 0

Foreign official 5,244 2 5,217 2 3 9 2 2 1 0 0 0 6

Other12 62,154 7 21,587 1 29 227 33 40,096 5 60 21 87 1

Deferred availability cash items 321 0 0 0 0 0 43 0 0 279 0 0 0

Earnings remittances due to the U.S.

Treasury13 1,325 26 725 34 44 76 115 62 22 12 20 66 122

Other liabilities and accrued

dividends 4,331 175 1,648 182 205 534 296 280 137 143 152 210 368

Total liabilities 3,810,767 83,159 1,916,136 84,403 124,714 235,617 289,214 215,790 61,947 37,385 60,032 188,146 514,224

Capital

Capital paid in 32,364 1,491 11,005 1,136 2,667 6,717 1,887 1,279 512 157 328 403 4,780

Surplus 6,825 294 2,166 394 545 1,455 397 285 104 32 66 84 1,002

Other capital 0 0 0 0 0 0 0 0 0 0 0 0 0

Total liabilities and capital 3,849,955 84,944 1,929,306 85,934 127,926 243,789 291,498 217,354 62,563 37,575 60,426 188,634 520,006

Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table.
H.4.1

5. Statement of Condition of Each Federal Reserve Bank, June 12, 2019 (continued)

1. Includes securities lent to dealers under the overnight securities lending facility; refer to table 1A.

2. Face value of the securities.

3. Includes the original face value of inflation-indexed securities and compensation that adjusts for the effect of inflation on the original face value of such securities.

4. Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. The current face value shown is the remaining principal balance of the securities.

5. Reflects the premium or discount, which is the difference between the purchase price and the face value of the securities that has not been amortized. For U.S. Treasury securities, Federal

agency debt securities, and mortgage-backed securities, amortization is on an effective-interest basis.

6. Cash value of agreements, which are collateralized by U.S. Treasury and federal agency securities.

7. Refer to the note on consolidation below.

8. Dollar value of foreign currency held under these agreements valued at the exchange rate to be used when the foreign currency is returned to the foreign central bank. This exchange rate

equals the market exchange rate used when the foreign currency was acquired from the foreign central bank.

9. Revalued daily at current foreign currency exchange rates.

10. Includes accrued interest, which represents the daily accumulation of interest earned, and other accounts receivable.

11. Cash value of agreements, which are collateralized by U.S. Treasury securities, federal agency debt securities, and mortgage-backed securities.

12. Includes deposits held at the Reserve Banks by international and multilateral organizations, government-sponsored enterprises, designated financial market utilities, and deposits held by

depository institutions in joint accounts in connection with their participation in certain private-sector payment arrangements. Also includes certain deposit accounts other than the U.S. Treasury,

General Account, for services provided by the Reserve Banks as fiscal agents of the United States.

13. Represents the estimated weekly remittances due to U.S. Treasury. The amounts on this line represent the residual net earnings that the Federal Reserve Banks remit to the U.S. Treasury after

providing for the costs of operations, payment of dividends, and the amount necessary to maintain a $6.825 billion surplus.

Note on consolidation:

On June 26, 2008, the Federal Reserve Bank of New York (FRBNY) extended a loan to Maiden Lane LLC (ML) under the authority of section 13(3) of the Federal Reserve Act. ML was formed to acquire certain

assets of Bear Stearns and to manage those assets through time to maximize repayment of the credit extended and minimize disruption to financial markets. On June 14, 2012, the remaining outstanding

balance of the senior loan from FRBNY to ML was repaid in full, with interest. On November 15, 2012, the remaining outstanding balance of the subordinated loan from JPMorgan Chase & Co. to ML was repaid

in full, with interest. FRBNY was the primary beneficiary of ML because it received any residual returns and could have absorbed any residual losses should they have occurred. Consistent with generally

accepted accounting principles, the assets and liabilities of ML were consolidated with the assets and liabilities of FRBNY in the preparation of the statements of condition shown on this release. As a

consequence of the consolidation, the extension of credit from FRBNY to ML was eliminated, the net assets of ML appeared as assets on the previous page (and in table 1 and table 4), and the liabilities of ML

to entities other than FRBNY, including those with recourse only to the ML portfolio holdings, were included in other liabilities in this table (and table 1 and table 4).
H.4.1

6. Collateral Held against Federal Reserve Notes: Federal Reserve Agents’ Accounts

Millions of dollars

Wednesday Federal Reserve notes and collateral Jun 12, 2019

Federal Reserve notes outstanding 1,889,631

Less: Notes held by F.R. Banks not subject to collateralization 199,370

Federal Reserve notes to be collateralized 1,690,261

Collateral held against Federal Reserve notes 1,690,261

Gold certificate account 11,037

Special drawing rights certificate account 5,200

U.S. Treasury, agency debt, and mortgage-backed securities pledged1,2 1,674,024

Other assets pledged 0

Memo:

Total U.S. Treasury, agency debt, and mortgage-backed securities1,2 3,667,709

Less: Face value of securities under reverse repurchase agreements 252,376

U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 3,415,333

Note: Components may not sum to totals because of rounding.

1. Includes face value of U.S. Treasury, agency debt, and mortgage-backed securities held outright, compensation to

adjust for the effect of inflation on the original face value of inflation-indexed securities, and cash value of repurchase

agreements.

2. Includes securities lent to dealers under the overnight securities lending facility; refer to table 1A.