FEDERAL RESERVE statistical release

H.4.1

Factors Affecting Reserve Balances of Depository Institutions and     
Condition Statement of Federal Reserve Banks                                                 January 16, 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 15, 2020 
Federal Reserve Banks                                     Jan 15, 2020  Jan 8, 2020 Jan 16, 2019              

Reserve Bank credit                                         4,132,767   +    4,439   +  116,806    4,137,142  
  Securities held outright (1)                              3,769,920   +   23,235   -   90,129    3,769,300  
    U.S. Treasury securities                                2,359,094   +   23,432   +  137,345    2,362,635  
      Bills (2)                                               193,314   +   19,503   +  193,314      195,029  
      Notes and bonds, nominal (2)                          2,011,545   +    2,539   -   72,041    2,014,116  
      Notes and bonds, inflation-indexed (2)                  128,617   +    1,233   +   12,580      128,005  
      Inflation compensation (3)                               25,618   +      158   +    3,493       25,485  
    Federal agency debt securities (2)                          2,347            0   -       62        2,347  
    Mortgage-backed securities (4)                          1,408,479   -      198   -  227,412    1,404,318  
  Unamortized premiums on securities held outright (5)        124,461   -       15   -   15,131      124,410  
  Unamortized discounts on securities held outright (5)       -13,273   -       33   +       94      -13,221  
  Repurchase agreements (6)                                   223,850   -   17,108   +  223,850      229,468  
  Loans                                                             5            0   -       10            9  
    Primary credit                                                  4   +        1   -       10            9  
    Secondary credit                                                0            0            0            0  
    Seasonal credit                                                 1   -        1            0            0  
    Other credit extensions                                         0            0            0            0  
  Net portfolio holdings of Maiden Lane LLC (7)                     0            0            0            0  
  Float                                                          -104   +       98   +       98          -60  
  Central bank liquidity swaps (8)                                 59   -    3,669   -       29           59  
  Other Federal Reserve assets (9)                             27,849   +    1,933   -    1,937       27,177  
Foreign currency denominated assets (10)                       20,590   -      160   -      497       20,607  
Gold stock                                                     11,041            0            0       11,041  
Special drawing rights certificate account                      5,200            0            0        5,200  
Treasury currency outstanding (11)                             50,134   +       14   +      358       50,134  
                                                                                                              
Total factors supplying reserve funds                       4,219,732   +    4,292   +  116,667    4,224,124  

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 15, 2020 
Federal Reserve Banks                                     Jan 15, 2020  Jan 8, 2020 Jan 16, 2019              

Currency in circulation (11)                                 1,797,265   -    7,742   +   90,512    1,795,725 
Reverse repurchase agreements (12)                             266,447   -   12,004   +    4,214      260,913 
  Foreign official and international accounts                  265,788   -    9,498   +    5,383      260,238 
  Others                                                           659   -    2,506   -    1,170          675 
Treasury cash holdings                                             177   +        5   -       46          189 
Deposits with F.R. Banks, other than reserve balances          424,014   -   10,541   -      735      449,695 
  Term deposits held by depository institutions                      0            0            0            0 
  U.S. Treasury, General Account                               350,987   -   16,015   -      193      380,802 
  Foreign official                                               5,182            0   -       65        5,181 
  Other (13)                                                    67,846   +    5,475   -      476       63,712 
Other liabilities and capital (14)                              45,028   +    1,860   +       60       44,241 
                                                                                                              
Total factors, other than reserve balances,               
    absorbing reserve funds                                  2,532,931   -   28,423   +   94,004    2,550,762 
                                                                                                              
Reserve balances with Federal Reserve Banks                  1,686,801   +   32,715   +   22,663    1,673,362 

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 15, 2020 
                                                          Jan 15, 2020  Jan 8, 2020 Jan 16, 2019              

Securities held in custody for foreign official and       
     international accounts                                  3,419,743   +   11,878   +   16,464    3,402,448 
  Marketable U.S. Treasury securities (1)                    2,978,455   +   12,116   -   49,364    2,961,416 
  Federal agency debt and mortgage-backed securities (2)       358,668   -      208   +   50,759      358,186 
  Other securities (3)                                          82,620   -       30   +   15,069       82,846 
Securities lent to dealers                                      31,629   -    2,710   +   10,441       31,048 
  Overnight facility (4)                                        31,629   -    2,710   +   10,441       31,048 
    U.S. Treasury securities                                    31,629   -    2,710   +   10,441       31,048 
    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 15, 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                                            9             0             0             0             0           ...             9 
U.S. Treasury securities (1)                                                                                                           
  Holdings                                  14,867       131,504       349,598       907,750       315,612       643,304     2,362,635 
  Weekly changes                        -    3,404    +    6,013    +    5,396    +   12,900    -    8,689    +    2,705    +   14,921 
Federal agency debt securities (2)                                                                                                     
  Holdings                                       0             0             0             0           486         1,861         2,347 
  Weekly changes                                 0             0             0             0             0             0             0 
Mortgage-backed securities (3)                                                                                                         
  Holdings                                       0             1            14         1,141        72,982     1,330,180     1,404,318 
  Weekly changes                                 0             0             0    -        9    -      558    -    3,792    -    4,359 
Repurchase agreements (4)                  229,468             0           ...           ...           ...           ...       229,468 
Central bank liquidity swaps (5)                59             0             0             0             0             0            59 
                                                                                                                                       
Reverse repurchase agreements (4)          260,913             0           ...           ...           ...           ...       260,913 
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 15, 2020  

Mortgage-backed securities held outright (1)                                                                             1,404,318  
                                                                                                                                    
Commitments to buy mortgage-backed securities (2)                                                                            3,954  
Commitments to sell mortgage-backed securities (2)                                                                             160  
                                                                                                                                    
Cash and cash equivalents (3)                                                                                                    0  



1.  Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. The current face value shown is the              
    remaining principal balance of the securities.                                                      
2.  Current face value. Generally settle within 180 days and include commitments associated with            
    outright transactions, dollar rolls, and coupon swaps.                                              
3.  This amount is included in other Federal Reserve assets in table 1 and in other assets in table 4       
    and table 5.                                                                                        







4. Consolidated Statement of Condition of All Federal Reserve Banks
Millions of dollars
Assets, liabilities, and capital                         Eliminations     Wednesday         Change since       
                                                             from       Jan 15, 2020   Wednesday    Wednesday  
                                                        consolidation                 Jan 8, 2020 Jan 16, 2019 

Assets                                                                                                         
  Gold certificate account                                                   11,037            0            0  
  Special drawing rights certificate account                                  5,200            0            0  
  Coin                                                                        1,713   +       36   -       55  
  Securities, unamortized premiums and discounts,     
     repurchase agreements, and loans                                     4,109,966   +   29,443   +  128,539  
    Securities held outright (1)                                          3,769,300   +   10,562   -   86,056  
      U.S. Treasury securities                                            2,362,635   +   14,921   +  142,416  
        Bills (2)                                                           195,029   +   10,502   +  195,029  
        Notes and bonds, nominal (2)                                      2,014,116   +    3,766   -   69,470  
        Notes and bonds, inflation-indexed (2)                              128,005   +      621   +   13,236  
        Inflation compensation (3)                                           25,485   +       32   +    3,622  
      Federal agency debt securities (2)                                      2,347            0   -       62  
      Mortgage-backed securities (4)                                      1,404,318   -    4,359   -  228,411  
    Unamortized premiums on securities held outright  
    (5)                                                                     124,410   -       64   -   15,000  
    Unamortized discounts on securities held outright 
    (5)                                                                     -13,221   +       57   +      133  
    Repurchase agreements (6)                                               229,468   +   18,881   +  229,468  
    Loans                                                                         9   +        7   -        6  
  Net portfolio holdings of Maiden Lane LLC (7)                                   0            0            0  
  Items in process of collection                                   (0)           91   +       35   -      118  
  Bank premises                                                               2,199   +        1   -        5  
  Central bank liquidity swaps (8)                                               59   -    3,669   -       29  
  Foreign currency denominated assets (9)                                    20,607   -       25   -      390  
  Other assets (10)                                                          24,978   +      485   -    2,136  
                                                                                                               
Total assets                                                       (0)    4,175,850   +   26,306   +  125,806  

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 15, 2020   Wednesday    Wednesday  
                                                        consolidation                 Jan 8, 2020 Jan 16, 2019 

Liabilities                                                                                                    
  Federal Reserve notes, net of F.R. Bank holdings                         1,747,488   -    6,622   +   89,759 
  Reverse repurchase agreements (11)                                         260,913   -   14,010   +    4,958 
  Deposits                                                          (0)    2,123,057   +   46,568   +   31,372 
    Term deposits held by depository institutions                                  0            0            0 
    Other deposits held by depository institutions                         1,673,362   +   16,733   +   47,861 
    U.S. Treasury, General Account                                           380,802   +   29,962   -   15,612 
    Foreign official                                                           5,181   -        1   -       62 
    Other (12)                                                      (0)       63,712   -      127   -      815 
  Deferred availability cash items                                  (0)          152   -       27   -      165 
  Other liabilities and accrued dividends (13)                                 5,718   +      399   +      495 
                                                                                                               
Total liabilities                                                   (0)    4,137,327   +   26,306   +  126,417 
                                                                                                               
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 15, 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                                             1,713          41          44          150         103         228         177         282          32          50         116         200         291
  Securities, unamortized premiums and      
     discounts, repurchase agreements,      
     and loans                                 4,109,966      85,266   2,242,273       99,529     120,247     251,515     281,010     215,737      59,071      35,564      60,944     178,467     480,342
    Securities held outright (1)               3,769,300      78,199   2,056,420       91,280     110,280     230,668     257,719     197,856      54,175      32,617      55,893     163,667     440,528
      U.S. Treasury securities                 2,362,635      49,016   1,288,985       57,215      69,125     144,585     161,541     124,018      33,957      20,444      35,034     102,588     276,128
        Bills (2)                                195,029       4,046     106,402        4,723       5,706      11,935      13,335      10,237       2,803       1,688       2,892       8,468      22,794
        Notes and bonds (3)                    2,167,606      44,970   1,182,583       52,492      63,419     132,650     148,206     113,781      31,154      18,757      32,142      94,120     253,334
      Federal agency debt securities (2)           2,347          49       1,280           57          69         144         160         123          34          20          35         102         274
      Mortgage-backed securities (4)           1,404,318      29,134     766,155       34,008      41,087      85,939      96,017      73,715      20,184      12,152      20,824      60,977     164,126
    Unamortized premiums on securities held 
      outright (5)                               124,410       2,581      67,875        3,013       3,640       7,613       8,506       6,530       1,788       1,077       1,845       5,402      14,540
    Unamortized discounts on securities     
      held outright (5)                          -13,221        -274      -7,213         -320        -387        -809        -904        -694        -190        -114        -196        -574      -1,545
    Repurchase agreements (6)                    229,468       4,761     125,191        5,557       6,714      14,043      15,689      12,045       3,298       1,986       3,403       9,964      26,819
    Loans                                              9           0           0            0           0           1           0           0           0           0           0           8           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                      91           0           0            0           0           0          90           0           0           1           0           0           0
  Bank premises                                    2,199         105         455           91         117         192         203         194         102          93         228         224         196
  Central bank liquidity swaps (8)                    59           3          19            3           5          12           3           2           1           0           1           1           9
  Foreign currency denominated                                                                                                                                                                           
     assets (9)                                   20,607         887       6,541        1,190       1,645       4,394       1,198         860         314          98         200         255       3,025
  Other assets (10)                               24,978         536      13,179          599         746       1,760       1,694       1,286         439         249         445       1,156       2,888
  Interdistrict settlement account                     0  +   14,329  -   98,045   -   11,718  +    4,095  +      413  +   24,206  +   17,489  +    8,435  +    4,186  +    7,414  +   21,295  +    7,901
                                                                                                                                                                                                         
Total assets                                   4,175,850     101,714   2,169,990       90,383     127,726     259,680     310,795     236,986      68,872      40,518      69,791     202,770     496,625

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 15, 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            1,955,676      60,956     639,984      57,663      94,066     134,316     272,684     126,707      59,534      32,051      54,214     164,194     259,308
    Less: Notes held by F.R. Banks               208,189       5,881      49,524       8,617       9,851      17,127      31,645      13,018       5,360       2,931       7,141      20,310      36,784
      Federal Reserve notes, net               1,747,488      55,075     590,460      49,045      84,215     117,189     241,039     113,689      54,174      29,120      47,073     143,884     222,525
  Reverse repurchase agreements (11)             260,913       5,413     142,346       6,318       7,634      15,967      17,839      13,696       3,750       2,258       3,869      11,329      30,494
  Deposits                                     2,123,057      39,239   1,421,813      33,279      32,404     117,804      49,510     107,728      10,175       8,600      18,293      46,814     237,399
    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                           1,673,362      39,220   1,014,456      33,276      32,371     117,586      49,476      65,961      10,172       8,506      18,260      46,686     237,392
    U.S. Treasury, General Account               380,802           0     380,802           0           0           0           0           0           0           0           0           0           0
    Foreign official                               5,181           2       5,154           2           3           9           2           2           1           0           0           0           6
    Other (12)                                    63,712          17      21,402           0          29         210          32      41,765           2          94          32         127           1
  Deferred availability cash items                   152           0           0           0           0           0          44           0           0         108           0           0           0
  Earnings remittances due to the U.S.      
     Treasury (13)                                 1,063          14         617          23          40          44          85          43          11           9          10          53         115
  Other liabilities and accrued             
     dividends                                     4,655         173       1,936         182         181         531         309         315         138         143         147         228         371
                                                                                                                                                                                                        
Total liabilities                              4,137,327      99,915   2,157,172      88,847     124,473     251,535     308,826     235,470      68,248      40,237      69,391     202,309     490,904
                                                                                                                                                                                                        
Capital                                                                                                                                                                                                 
  Capital paid in                                 31,698       1,505      10,653       1,141       2,709       6,690       1,572       1,230         520         248         334         376       4,720
  Surplus                                          6,825         294       2,166         394         545       1,455         397         285         104          32          66          84       1,002
  Other capital                                        0           0           0           0           0           0           0           0           0           0           0           0           0
                                                                                                                                                                                                        
Total liabilities and capital                  4,175,850     101,714   2,169,990      90,383     127,726     259,680     310,795     236,986      68,872      40,518      69,791     202,770     496,625

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 15, 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 15, 2020  

Federal Reserve notes outstanding                                                            1,955,676  
  Less: Notes held by F.R. Banks not subject to collateralization                              208,189  
    Federal Reserve notes to be collateralized                                               1,747,488  
Collateral held against Federal Reserve notes                                                1,747,488  
  Gold certificate account                                                                      11,037  
  Special drawing rights certificate account                                                     5,200  
  U.S. Treasury, agency debt, and mortgage-backed securities pledged (1,2)                   1,731,251  
  Other assets pledged                                                                               0  
Memo:                                                                                                   
Total U.S. Treasury, agency debt, and mortgage-backed securities (1,2)                       3,998,768  
  Less: Face value of securities under reverse repurchase agreements                           257,466  
    U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged        3,741,302  

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.