FEDERAL RESERVE statistical release

H.4.1

Factors Affecting Reserve Balances of Depository Institutions and

Condition Statement of Federal Reserve Banks August 8, 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

Aug 7, 2019 Jul 31, 2019 Aug 8, 2018

Wednesday

Aug 7, 2019

Reserve Bank credit 3,741,539 - 10,059 - 476,116 3,742,331

Securities held outright1 3,594,826 - 11,508 - 454,035 3,594,828

U.S. Treasury securities 2,080,703 - 11,509 - 256,204 2,080,704

Bills2 2 0 + 2 0

Notes and bonds, nominal2 1,940,396 - 12,014 - 260,193 1,940,396

Notes and bonds, inflation-indexed2 116,545 + 477 + 1,953 116,545

Inflation compensation3 23,761 + 30 + 2,035 23,763

Federal agency debt securities2 2,347 0 - 62 2,347

Mortgage-backed securities4 1,511,775 0 - 197,770 1,511,777

Unamortized premiums on securities held outright5 129,117 - 223 - 18,734 129,085

Unamortized discounts on securities held outright5 -12,745 + 15 + 1,070 -12,735

Repurchase agreements6 0 0 0 0

Loans 107 - 22 - 121 102

Primary credit 1 - 1 - 2 3

Secondary credit 0 0 0 0

Seasonal credit 107 - 19 - 117 99

Other credit extensions 0 0 0 0

Net portfolio holdings of Maiden Lane LLC7 0 0 - 1,717 0

Float -152 + 188 + 43 -164

Central bank liquidity swaps8 27 + 16 - 73 30

Other Federal Reserve assets9 30,358 + 1,474 - 2,550 31,185

Foreign currency denominated assets10 20,888 + 189 - 154 21,054

Gold stock 11,041 0 0 11,041

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

Treasury currency outstanding11 50,000 + 14 + 349 50,000

Total factors supplying reserve funds 3,828,669 - 9,856 - 475,920 3,829,626

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

Aug 7, 2019 Jul 31, 2019 Aug 8, 2018

Wednesday

Aug 7, 2019

Currency in circulation11 1,748,091 + 2,372 + 78,721 1,749,273

Reverse repurchase agreements12 299,056 + 8,988 + 62,239 284,134

Foreign official and international accounts 295,262 + 9,009 + 60,291 280,512

Others 3,794 - 21 + 1,947 3,622

Treasury cash holdings 175 + 1 - 40 167

Deposits with F.R. Banks, other than reserve balances 197,707 - 25,454 - 204,750 199,910

Term deposits held by depository institutions 0 0 0 0

U.S. Treasury, General Account 131,704 - 32,059 - 194,767 133,077

Foreign official 5,256 + 1 - 2 5,255

Other13 60,748 + 6,605 - 9,980 61,577

Other liabilities and capital14 44,396 - 483 + 55 44,522

Total factors, other than reserve balances,

absorbing reserve funds 2,289,424 - 14,577 - 63,776 2,278,006

Reserve balances with Federal Reserve Banks 1,539,244 + 4,721 - 412,145 1,551,621

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

Aug 7, 2019 Jul 31, 2019 Aug 8, 2018

Wednesday

Aug 7, 2019

Securities held in custody for foreign official and international

accounts 3,473,587 + 10,728 + 31,371 3,465,043

Marketable U.S. Treasury securities1 3,035,212 + 10,497 - 33,392 3,026,691

Federal agency debt and mortgage-backed securities2 357,485 + 115 + 57,105 357,330

Other securities3 80,890 + 116 + 7,658 81,022

Securities lent to dealers 26,092 - 471 + 7,484 28,168

Overnight facility4 26,092 - 471 + 7,484 28,168

U.S. Treasury securities 26,092 - 471 + 7,484 28,168

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, August 7, 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 30 72 0 0 0 ... 102

U.S. Treasury securities1

Holdings 54,814 43,341 251,235 853,063 265,731 612,519 2,080,704

Weekly changes - 3 + 15,682 - 5,579 - 10,103 + 3 + 3 + 4

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 8 412 78,844 1,432,513 1,511,777

Weekly changes 0 0 + 2 + 85 + 2,221 - 2,306 + 2

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

Central bank liquidity swaps5 30 0 0 0 0 0 30

Reverse repurchase agreements4 284,134 0 ... ... ... ... 284,134

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 Aug 7, 2019

Mortgage-backed securities held outright1 1,511,777

Commitments to buy mortgage-backed securities2 3,490

Commitments to sell mortgage-backed securities2 0

Cash and cash equivalents3 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.
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

Aug 7, 2019 Jul 31, 2019 Aug 8, 2018

Assets

Gold certificate account 11,037 0 0

Special drawing rights certificate account 5,200 0 0

Coin 1,699 + 17 - 84

Securities, unamortized premiums and discounts,

repurchase agreements, and loans 3,711,280 - 166 - 471,840

Securities held outright1 3,594,828 + 6 - 454,051

U.S. Treasury securities 2,080,704 + 4 - 256,221

Bills2 0 - 2 0

Notes and bonds, nominal2 1,940,396 0 - 260,193

Notes and bonds, inflation-indexed2 116,545 0 + 1,953

Inflation compensation3 23,763 + 6 + 2,019

Federal agency debt securities2 2,347 0 - 62

Mortgage-backed securities4 1,511,777 + 2 - 197,768

Unamortized premiums on securities held outright5 129,085 - 171 - 18,705

Unamortized discounts on securities held outright5 -12,735 + 29 + 1,069

Repurchase agreements6 0 0 0

Loans 102 - 30 - 153

Net portfolio holdings of Maiden Lane LLC7 0 0 - 1,719

Items in process of collection (0) 58 - 10 - 136

Bank premises 2,185 - 10 + 5

Central bank liquidity swaps8 30 + 19 - 70

Foreign currency denominated assets9 21,054 + 339 + 2

Other assets10 29,000 + 2,254 - 2,645

Total assets (0) 3,781,543 + 2,441 - 476,487

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

Aug 7, 2019 Jul 31, 2019 Aug 8, 2018

Liabilities

Federal Reserve notes, net of F.R. Bank holdings 1,701,134 + 1,524 + 77,215

Reverse repurchase agreements11 284,134 - 24,576 + 46,744

Deposits (0) 1,751,531 + 26,215 - 600,673

Term deposits held by depository institutions 0 0 0

Other deposits held by depository institutions 1,551,621 + 61,075 - 414,482

U.S. Treasury, General Account 133,077 - 43,585 - 178,613

Foreign official 5,255 + 1 - 2

Other12 (0) 61,577 + 8,723 - 7,577

Deferred availability cash items (0) 222 - 664 - 188

Other liabilities and accrued dividends13 5,282 - 70 + 78

Total liabilities (0) 3,742,303 + 2,427 - 476,823

Capital accounts

Capital paid in 32,415 + 14 + 336

Surplus 6,825 0 0

Other capital accounts 0 0 0

Total capital 39,240 + 14 + 336

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, August 7, 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 1,699 35 47 151 113 216 191 277 31 46 107 200 284

Securities, unamortized premiums and

discounts, repurchase agreements,

and loans 3,711,280 76,994 2,024,710 89,872 108,580 227,111 253,755 194,808 53,353 32,179 55,031 161,148 433,740

Securities held outright1 3,594,828 74,579 1,961,233 87,054 105,176 219,991 245,789 188,697 51,667 31,107 53,305 156,092 420,137

U.S. Treasury securities 2,080,704 43,167 1,135,171 50,388 60,876 127,332 142,264 109,219 29,905 18,005 30,853 90,347 243,178

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

Notes and bonds3 2,080,704 43,167 1,135,171 50,388 60,876 127,332 142,264 109,219 29,905 18,005 30,853 90,347 243,178

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

Mortgage-backed securities4 1,511,777 31,364 824,781 36,610 44,231 92,515 103,365 79,355 21,728 13,082 22,417 65,643 176,686

Unamortized premiums on securities 

held outright5 129,085 2,678 70,425 3,126 3,777 7,900 8,826 6,776 1,855 1,117 1,914 5,605 15,087

Unamortized discounts on securities 

held outright5 -12,735 -264 -6,948 -308 -373 -779 -871 -668 -183 -110 -189 -553 -1,488

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

Loans 102 1 0 0 0 0 11 3 14 65 0 4 5

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 58 0 0 0 0 0 57 0 0 0 0 0 0

Bank premises 2,185 107 457 81 117 191 205 191 103 94 228 220 190

Central bank liquidity swaps8 30 1 10 2 2 6 2 1 0 0 0 0 4

Foreign currency denominated

assets9 21,054 907 6,683 1,216 1,681 4,489 1,224 879 321 100 204 260 3,091

Other assets10 29,000 621 15,377 698 862 1,992 1,970 1,495 508 320 514 1,283 3,360

Interdistrict settlement account 0 + 6,228 - 197,339 - 6,674 + 14,334 + 2,938 + 35,137 + 25,573 + 8,929 + 4,625 + 5,436 + 28,108 + 72,705

Total assets 3,781,543 85,440 1,855,470 85,883 126,457 238,109 294,756 224,358 63,724 37,641 61,965 192,392 515,349

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, August 7, 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 1,902,855 57,306 630,255 54,805 90,825 131,339 261,011 124,282 56,391 31,358 50,331 158,847 256,104

Less: Notes held by F.R. Banks 201,721 6,125 46,981 8,355 9,835 16,004 30,187 13,559 6,087 3,331 8,107 20,635 32,517

Federal Reserve notes, net 1,701,134 51,181 583,275 46,450 80,990 115,335 230,824 110,723 50,304 28,028 42,224 138,212 223,587

Reverse repurchase agreements11 284,134 5,895 155,015 6,881 8,313 17,388 19,427 14,915 4,084 2,459 4,213 12,337 33,208

Deposits 1,751,531 26,394 1,101,744 30,819 33,719 96,665 41,735 96,894 8,569 6,586 14,975 41,087 252,344

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 1,551,621 26,385 946,400 30,816 33,682 96,205 41,699 53,071 8,565 6,534 14,952 40,975 252,337

U.S. Treasury, General Account 133,077 0 133,077 0 0 0 0 0 0 0 0 0 0

Foreign official 5,255 2 5,228 2 3 9 2 2 1 0 0 0 6

Other12 61,577 8 17,038 1 33 452 34 43,822 4 51 23 111 1

Deferred availability cash items 222 0 0 0 0 0 64 0 0 158 0 0 0

Earnings remittances due to the U.S.

Treasury13 1,304 28 704 40 47 83 109 59 21 11 18 60 122

Other liabilities and accrued

dividends 3,978 156 1,534 167 176 466 279 262 135 142 141 207 314

Total liabilities 3,742,303 83,655 1,842,271 84,357 123,244 229,938 292,439 222,853 63,114 37,383 61,571 191,903 509,575

Capital

Capital paid in 32,415 1,491 11,033 1,132 2,667 6,716 1,920 1,220 506 225 328 404 4,772

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 3,781,543 85,440 1,855,470 85,883 126,457 238,109 294,756 224,358 63,724 37,641 61,965 192,392 515,349

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, August 7, 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 Aug 7, 2019

Federal Reserve notes outstanding 1,902,855

Less: Notes held by F.R. Banks not subject to collateralization 201,721

Federal Reserve notes to be collateralized 1,701,134

Collateral held against Federal Reserve notes 1,701,134

Gold certificate account 11,037

Special drawing rights certificate account 5,200

U.S. Treasury, agency debt, and mortgage-backed securities pledged1,2 1,684,898

Other assets pledged 0

Memo:

Total U.S. Treasury, agency debt, and mortgage-backed securities1,2 3,594,828

Less: Face value of securities under reverse repurchase agreements 273,081

U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 3,321,747

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.