FEDERAL RESERVE statistical release

H.4.1

Factors Affecting Reserve Balances of Depository Institutions and

Condition Statement of Federal Reserve Banks October 31, 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

Oct 30, 2019 Oct 23, 2019 Oct 31, 2018

Wednesday

Oct 30, 2019

Reserve Bank credit 3,965,939 + 32,737 - 155,350 3,980,095

Securities held outright1 3,612,798 + 12,408 - 349,421 3,623,600

U.S. Treasury securities 2,162,975 + 26,046 - 127,846 2,175,491

Bills2 40,292 + 22,503 + 40,239 51,008

Notes and bonds, nominal2 1,977,170 + 3,545 - 176,020 1,978,971

Notes and bonds, inflation-indexed2 120,993 0 + 5,414 120,993

Inflation compensation3 24,520 - 2 + 2,521 24,519

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

Mortgage-backed securities4 1,447,476 - 13,638 - 221,513 1,445,762

Unamortized premiums on securities held outright5 126,759 - 635 - 16,572 126,652

Unamortized discounts on securities held outright5 -12,701 - 115 + 850 -12,750

Repurchase agreements6 211,736 + 21,156 + 211,736 215,500

Loans 55 0 - 132 68

Primary credit 13 + 12 - 1 28

Secondary credit 0 0 0 0

Seasonal credit 42 - 11 - 131 39

Other credit extensions 0 0 0 0

Net portfolio holdings of Maiden Lane LLC7 0 0 - 7 0

Float -249 - 148 + 103 -1,102

Central bank liquidity swaps8 41 - 2 - 39 41

Other Federal Reserve assets9 27,499 + 71 - 1,869 28,086

Foreign currency denominated assets10 20,638 - 72 - 73 20,660

Gold stock 11,041 0 0 11,041

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

Treasury currency outstanding11 50,081 + 14 + 360 50,081

Total factors supplying reserve funds 4,052,898 + 32,678 - 155,064 4,067,077

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

Oct 30, 2019 Oct 23, 2019 Oct 31, 2018

Wednesday

Oct 30, 2019

Currency in circulation11 1,776,100 + 4,514 + 84,776 1,781,082

Reverse repurchase agreements12 286,714 - 24,292 + 62,954 289,661

Foreign official and international accounts 286,607 - 7,392 + 65,024 289,465

Others 108 - 16,899 - 2,068 196

Treasury cash holdings 192 - 8 - 38 196

Deposits with F.R. Banks, other than reserve balances 461,311 + 18,509 + 15,199 466,800

Term deposits held by depository institutions 0 0 0 0

U.S. Treasury, General Account 389,872 + 11,887 + 16,504 400,616

Foreign official 5,187 0 - 114 5,187

Other13 66,252 + 6,622 - 1,191 60,998

Other liabilities and capital14 44,878 - 705 + 595 44,618

Total factors, other than reserve balances,

absorbing reserve funds 2,569,196 - 1,981 + 163,487 2,582,359

Reserve balances with Federal Reserve Banks 1,483,702 + 34,659 - 318,550 1,484,718

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

Oct 30, 2019 Oct 23, 2019 Oct 31, 2018

Wednesday

Oct 30, 2019

Securities held in custody for foreign official and international

accounts 3,421,661 + 2,153 + 7,206 3,429,506

Marketable U.S. Treasury securities1 2,976,407 + 3,744 - 66,108 2,984,180

Federal agency debt and mortgage-backed securities2 361,999 - 2,208 + 56,575 361,976

Other securities3 83,255 + 617 + 16,740 83,350

Securities lent to dealers 22,449 - 70 + 6,829 26,178

Overnight facility4 22,449 - 70 + 6,829 26,178

U.S. Treasury securities 22,449 - 70 + 6,829 26,178

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, October 30, 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 68 0 0 0 0 ... 68

U.S. Treasury securities1

Holdings 17,783 81,959 292,006 856,122 302,405 625,215 2,175,491

Weekly changes + 2,047 + 4,764 + 15,691 + 3,802 - 1 - 1 + 26,303

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 8 911 77,106 1,367,737 1,445,762

Weekly changes 0 0 - 1 - 28 - 1,500 - 10,623 - 12,152

Repurchase agreements4 215,500 0 ... ... ... ... 215,500

Central bank liquidity swaps5 41 0 0 0 0 0 41

Reverse repurchase agreements4 289,661 0 ... ... ... ... 289,661

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 Oct 30, 2019

Mortgage-backed securities held outright1 1,445,762

Commitments to buy mortgage-backed securities2 7,295

Commitments to sell mortgage-backed securities2 0

Cash and cash equivalents3 2

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

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

3. This amount is included in other Federal Reserve assets in table 1 and in other assets in table 4 and table 5.
H.4.1

4. Consolidated Statement of Condition of All Federal Reserve Banks

Millions of dollars

Change since

Assets, liabilities, and capital Wednesday Wednesday Eliminations from

consolidation

Wednesday

Oct 30, 2019 Oct 23, 2019 Oct 31, 2018

Assets

Gold certificate account 11,037 0 0

Special drawing rights certificate account 5,200 0 0

Coin 1,674 - 6 - 63

Securities, unamortized premiums and discounts,

repurchase agreements, and loans 3,953,070 + 50,806 - 118,654

Securities held outright1 3,623,600 + 14,151 - 318,197

U.S. Treasury securities 2,175,491 + 26,303 - 94,908

Bills2 51,008 + 22,503 + 50,955

Notes and bonds, nominal2 1,978,971 + 3,802 - 153,791

Notes and bonds, inflation-indexed2 120,993 0 + 5,414

Inflation compensation3 24,519 - 2 + 2,514

Federal agency debt securities2 2,347 0 - 62

Mortgage-backed securities4 1,445,762 - 12,152 - 223,227

Unamortized premiums on securities held outright5 126,652 - 537 - 16,585

Unamortized discounts on securities held outright5 -12,750 - 117 + 790

Repurchase agreements6 215,500 + 37,296 + 215,500

Loans 68 + 14 - 162

Net portfolio holdings of Maiden Lane LLC7 0 0 - 7

Items in process of collection (0) 54 + 4 - 92

Bank premises 2,200 + 9 - 10

Central bank liquidity swaps8 41 - 2 - 39

Foreign currency denominated assets9 20,660 - 13 + 34

Other assets10 25,887 + 325 - 1,077

Total assets (0) 4,019,823 + 51,123 - 119,908

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

Oct 30, 2019 Oct 23, 2019 Oct 31, 2018

Liabilities

Federal Reserve notes, net of F.R. Bank holdings 1,732,868 + 7,848 + 84,702

Reverse repurchase agreements11 289,661 - 16,386 + 53,131

Deposits (0) 1,951,519 + 59,201 - 258,563

Term deposits held by depository institutions 0 0 0

Other deposits held by depository institutions 1,484,719 + 33,164 - 286,822

U.S. Treasury, General Account 400,616 + 25,446 + 34,020

Foreign official 5,187 + 1 - 70

Other12 (0) 60,998 + 591 - 5,690

Deferred availability cash items (0) 1,156 + 979 + 134

Other liabilities and accrued dividends13 5,282 - 511 + 449

Total liabilities (0) 3,980,486 + 51,130 - 120,148

Capital accounts

Capital paid in 32,512 - 7 + 241

Surplus 6,825 0 0

Other capital accounts 0 0 0

Total capital 39,337 - 7 + 241

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, October 30, 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 1,674 44 46 150 105 213 178 279 34 45 107 188 285

Securities, unamortized premiums and

discounts, repurchase agreements,

and loans 3,953,070 82,010 2,156,643 95,728 115,655 241,910 270,288 207,499 56,824 34,231 58,617 171,669 461,999

Securities held outright1 3,623,600 75,176 1,976,930 87,751 106,017 221,751 247,757 190,208 52,081 31,356 53,732 157,341 423,500

U.S. Treasury securities 2,175,491 45,133 1,186,884 52,683 63,649 133,132 148,745 114,195 31,268 18,825 32,259 94,462 254,256

Bills2 51,008 1,058 27,828 1,235 1,492 3,122 3,488 2,677 733 441 756 2,215 5,961

Notes and bonds3 2,124,483 44,075 1,159,056 51,448 62,157 130,011 145,257 111,517 30,534 18,384 31,503 92,248 248,294

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

Mortgage-backed securities4 1,445,762 29,994 788,765 35,011 42,299 88,475 98,851 75,890 20,779 12,511 21,438 62,777 168,970

Unamortized premiums on securities 

held outright5 126,652 2,628 69,098 3,067 3,706 7,751 8,660 6,648 1,820 1,096 1,878 5,499 14,802

Unamortized discounts on securities 

held outright5 -12,750 -265 -6,956 -309 -373 -780 -872 -669 -183 -110 -189 -554 -1,490

Repurchase agreements6 215,500 4,471 117,570 5,219 6,305 13,188 14,734 11,312 3,097 1,865 3,196 9,357 25,186

Loans 68 0 0 0 0 0 9 0 9 24 0 25 0

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 54 0 0 0 0 0 53 0 0 0 0 0 0

Bank premises 2,200 108 466 84 116 190 204 193 102 94 229 223 190

Central bank liquidity swaps8 41 2 13 2 3 9 2 2 1 0 0 1 6

Foreign currency denominated

assets9 20,660 890 6,557 1,194 1,649 4,405 1,201 862 315 98 200 256 3,033

Other assets10 25,887 554 13,641 618 766 1,822 1,750 1,325 440 280 465 1,245 2,982

Interdistrict settlement account 0 + 7,643 - 127,808 - 17,272 + 9,746 + 4,488 + 30,332 + 21,829 + 7,149 + 5,369 + 5,839 + 20,258 + 32,427

Total assets 4,019,823 91,797 2,055,083 81,041 128,809 254,203 306,223 233,124 65,342 40,394 65,902 195,011 502,895

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, October 30, 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 1,941,705 59,327 641,500 56,049 92,151 132,986 272,156 125,595 58,015 31,081 52,295 162,187 258,363

Less: Notes held by F.R. Banks 208,837 6,557 53,665 9,017 9,478 16,239 28,364 13,783 5,929 3,508 7,620 20,863 33,813

Federal Reserve notes, net 1,732,868 52,770 587,835 47,031 82,673 116,747 243,792 111,812 52,086 27,573 44,675 141,323 224,551

Reverse repurchase agreements11 289,661 6,009 158,031 7,015 8,475 17,726 19,805 15,205 4,163 2,507 4,295 12,577 33,854

Deposits 1,951,519 31,033 1,293,836 25,255 34,180 110,959 39,819 104,274 8,326 8,768 16,366 40,365 238,338

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 1,484,719 31,014 868,877 25,253 34,151 110,405 39,784 63,250 8,321 8,717 16,338 40,277 238,332

U.S. Treasury, General Account 400,616 0 400,616 0 0 0 0 0 0 0 0 0 0

Foreign official 5,187 2 5,159 2 3 9 2 2 1 0 0 0 6

Other12 60,998 17 19,184 0 27 545 33 41,022 4 51 27 87 1

Deferred availability cash items 1,156 0 0 0 0 0 47 0 0 1,109 0 0 0

Earnings remittances due to the U.S.

Treasury13 936 15 540 22 30 26 90 37 12 8 14 51 91

Other liabilities and accrued

dividends 4,346 182 1,622 182 198 572 306 287 134 150 156 216 341

Total liabilities 3,980,486 90,009 2,041,864 79,504 125,556 246,031 303,858 231,615 64,720 40,114 65,506 194,533 497,175

Capital

Capital paid in 32,512 1,494 11,053 1,142 2,708 6,716 1,968 1,223 518 247 330 394 4,719

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 4,019,823 91,797 2,055,083 81,041 128,809 254,203 306,223 233,124 65,342 40,394 65,902 195,011 502,895

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, October 30, 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 Oct 30, 2019

Federal Reserve notes outstanding 1,941,705

Less: Notes held by F.R. Banks not subject to collateralization 208,837

Federal Reserve notes to be collateralized 1,732,868

Collateral held against Federal Reserve notes 1,732,868

Gold certificate account 11,037

Special drawing rights certificate account 5,200

U.S. Treasury, agency debt, and mortgage-backed securities pledged1,2 1,716,631

Other assets pledged 0

Memo:

Total U.S. Treasury, agency debt, and mortgage-backed securities1,2 3,839,100

Less: Face value of securities under reverse repurchase agreements 271,542

U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 3,567,559

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.