FEDERAL RESERVE statistical release

H.4.1

Factors Affecting Reserve Balances of Depository Institutions and     
Condition Statement of Federal Reserve Banks                                                    March 5, 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   Mar 4, 2020 
Federal Reserve Banks                                      Mar 4, 2020 Feb 26, 2020  Mar 6, 2019              

Reserve Bank credit                                         4,144,341   +   24,850   +  215,099    4,202,074  
  Securities held outright (1)                              3,865,007   +   18,441   +   79,591    3,876,816  
    U.S. Treasury securities                                2,490,816   +   25,603   +  315,417    2,502,624  
      Bills (2)                                               295,543   +   19,288   +  295,543      303,042  
      Notes and bonds, nominal (2)                          2,038,824   +    6,316   -      187    2,043,081  
      Notes and bonds, inflation-indexed (2)                  131,052            0   +   15,898      131,052  
      Inflation compensation (3)                               25,397   -        1   +    4,163       25,449  
    Federal agency debt securities (2)                          2,347            0   -       62        2,347  
    Mortgage-backed securities (4)                          1,371,844   -    7,163   -  235,765    1,371,846  
  Unamortized premiums on securities held outright (5)        123,436   -       72   -   13,509      124,406  
  Unamortized discounts on securities held outright (5)       -13,477   +       15   -      254      -13,425  
  Repurchase agreements (6)                                   150,293   +    6,450   +  150,293      195,000  
  Loans                                                            12   +       10            0            1  
    Primary credit                                                 11   +        9   +        5            1  
    Secondary credit                                                0            0            0            0  
    Seasonal credit                                                 0            0   -        6            0  
    Other credit extensions                                         0            0            0            0  
  Net portfolio holdings of Maiden Lane LLC (7)                     0            0            0            0  
  Float                                                          -491   -      308   -      158         -628  
  Central bank liquidity swaps (8)                                 48   +        3   -       17           48  
  Other Federal Reserve assets (9)                             19,512   +      310   -      849       19,855  
Foreign currency denominated assets (10)                       20,655   +      479   -       64       20,775  
Gold stock                                                     11,041            0            0       11,041  
Special drawing rights certificate account                      5,200            0            0        5,200  
Treasury currency outstanding (11)                             50,197   +       14   +      367       50,197  
                                                                                                              
Total factors supplying reserve funds                       4,231,434   +   25,343   +  215,401    4,289,287  

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   Mar 4, 2020 
Federal Reserve Banks                                      Mar 4, 2020 Feb 26, 2020  Mar 6, 2019              

Currency in circulation (11)                                 1,803,521   +    4,579   +   88,749    1,810,269 
Reverse repurchase agreements (12)                             228,234   +    6,487   -   21,866      236,702 
  Foreign official and international accounts                  226,089   +    7,228   -   21,495      231,677 
  Others                                                         2,145   -      741   -      371        5,025 
Treasury cash holdings                                             289   +       17   -       26          306 
Deposits with F.R. Banks, other than reserve balances          456,126   -   58,039   +  171,303      462,394 
  Term deposits held by depository institutions                      0            0            0            0 
  U.S. Treasury, General Account                               374,515   -   64,850   +  154,470      381,302 
  Foreign official                                               5,187            0   -       57        5,186 
  Other (13)                                                    76,424   +    6,811   +   16,890       75,906 
Other liabilities and capital (14)                              44,409   -       87   +        1       44,610 
                                                                                                              
Total factors, other than reserve balances,               
    absorbing reserve funds                                  2,532,579   -   47,043   +  238,161    2,554,282 
                                                                                                              
Reserve balances with Federal Reserve Banks                  1,698,855   +   72,386   -   22,759    1,735,005 

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   Mar 4, 2020 
                                                           Mar 4, 2020 Feb 26, 2020  Mar 6, 2019              

Securities held in custody for foreign official and       
     international accounts                                  3,457,675   -    2,650   -    8,278    3,442,481 
  Marketable U.S. Treasury securities (1)                    2,998,649   -    1,689   -   71,973    2,982,812 
  Federal agency debt and mortgage-backed securities (2)       377,070   -      887   +   53,351      377,112 
  Other securities (3)                                          81,956   -       73   +   10,344       82,557 
Securities lent to dealers                                      32,322   +    3,003   +    5,842       35,719 
  Overnight facility (4)                                        32,322   +    3,003   +    5,842       35,719 
    U.S. Treasury securities                                    32,322   +    3,003   +    5,842       35,719 
    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, March 4, 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                                            1             0             0             0             0           ...             1 
U.S. Treasury securities (1)                                                                                                           
  Holdings                                  22,679       213,281       367,820       914,339       326,323       658,181     2,502,624 
  Weekly changes                        -   12,133    +   24,497    +   11,840    +      941    +      941    +    2,479    +   28,564 
Federal agency debt securities (2)                                                                                                     
  Holdings                                       0             0             0             0         1,151         1,196         2,347 
  Weekly changes                                 0             0             0             0             0             0             0 
Mortgage-backed securities (3)                                                                                                         
  Holdings                                       0             0             4         1,649        71,812     1,298,380     1,371,846 
  Weekly changes                                 0             0    +        1    +      163    +    1,616    -    1,777    +        3 
Repurchase agreements (4)                  195,000             0           ...           ...           ...           ...       195,000 
Central bank liquidity swaps (5)                48             0             0             0             0             0            48 
                                                                                                                                       
Reverse repurchase agreements (4)          236,702             0           ...           ...           ...           ...       236,702 
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   
                                                                                                                       Mar 4, 2020  

Mortgage-backed securities held outright (1)                                                                             1,371,846  
                                                                                                                                    
Commitments to buy mortgage-backed securities (2)                                                                            2,763  
Commitments to sell mortgage-backed securities (2)                                                                               0  
                                                                                                                                    
Cash and cash equivalents (3)                                                                                                    1  



1.  Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. The current face value shown is the              
    remaining principal balance of the securities.                                                      
2.  Current face value. Generally settle within 180 days and include commitments associated with            
    outright transactions, dollar rolls, and coupon swaps.                                              
3.  This amount is included in other Federal Reserve assets in table 1 and in other assets in table 4       
    and table 5.                                                                                        







4. Consolidated Statement of Condition of All Federal Reserve Banks
Millions of dollars
Assets, liabilities, and capital                         Eliminations     Wednesday         Change since       
                                                             from        Mar 4, 2020   Wednesday    Wednesday  
                                                        consolidation                Feb 26, 2020  Mar 6, 2019 

Assets                                                                                                         
  Gold certificate account                                                   11,037            0            0  
  Special drawing rights certificate account                                  5,200            0            0  
  Coin                                                                        1,751   -       19   -       19  
  Securities, unamortized premiums and discounts,     
     repurchase agreements, and loans                                     4,182,798   +   81,239   +  273,710  
    Securities held outright (1)                                          3,876,816   +   28,566   +   91,378  
      U.S. Treasury securities                                            2,502,624   +   28,564   +  327,204  
        Bills (2)                                                           303,042   +   22,501   +  303,042  
        Notes and bonds, nominal (2)                                      2,043,081   +    5,999   +    4,070  
        Notes and bonds, inflation-indexed (2)                              131,052            0   +   15,898  
        Inflation compensation (3)                                           25,449   +       64   +    4,194  
      Federal agency debt securities (2)                                      2,347            0   -       62  
      Mortgage-backed securities (4)                                      1,371,846   +        3   -  235,763  
    Unamortized premiums on securities held outright  
    (5)                                                                     124,406   +    1,103   -   12,450  
    Unamortized discounts on securities held outright 
    (5)                                                                     -13,425   +       22   -      212  
    Repurchase agreements (6)                                               195,000   +   51,560   +  195,000  
    Loans                                                                         1   -       12   -        5  
  Net portfolio holdings of Maiden Lane LLC (7)                                   0            0            0  
  Items in process of collection                                   (0)           42   -        5   -       22  
  Bank premises                                                               2,198   -        4   -        1  
  Central bank liquidity swaps (8)                                               48   +        4   -       17  
  Foreign currency denominated assets (9)                                    20,775   +      500   +       96  
  Other assets (10)                                                          17,657   +    1,154   -    1,376  
                                                                                                               
Total assets                                                       (0)    4,241,507   +   82,870   +  272,373  

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        Mar 4, 2020   Wednesday    Wednesday  
                                                        consolidation                Feb 26, 2020  Mar 6, 2019 

Liabilities                                                                                                    
  Federal Reserve notes, net of F.R. Bank holdings                         1,762,125   +   10,216   +   90,472 
  Reverse repurchase agreements (11)                                         236,702   +   16,734   -      430 
  Deposits                                                          (0)    2,197,400   +   55,412   +  182,123 
    Term deposits held by depository institutions                                  0            0            0 
    Other deposits held by depository institutions                         1,735,006   +   54,936   -    1,541 
    U.S. Treasury, General Account                                           381,302   -    6,313   +  167,691 
    Foreign official                                                           5,186            0   -       58 
    Other (12)                                                      (0)       75,906   +    6,789   +   16,032 
  Deferred availability cash items                                  (0)          670   +       32   +       12 
  Other liabilities and accrued dividends (13)                                 6,052   +      469   +      826 
                                                                                                               
Total liabilities                                                   (0)    4,202,949   +   82,863   +  273,003 
                                                                                                               
Capital accounts                                                                                               
  Capital paid in                                                             31,733   +        7   -      630 
  Surplus                                                                      6,825            0            0 
  Other capital accounts                                                           0            0            0 
                                                                                                               
Total capital                                                                 38,558   +        7   -      630 

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, March 4, 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                                             1,751          41          54          159          97         236         166         287          36          54         118         201         302
  Securities, unamortized premiums and      
     discounts, repurchase agreements,      
     and loans                                 4,182,798      86,777   2,282,012      101,293     122,378     255,972     285,991     219,562      60,118      36,195      62,024     181,622     488,855
    Securities held outright (1)               3,876,816      80,429   2,115,077       93,883     113,426     237,247     265,070     203,499      55,720      33,547      57,487     168,336     453,094
      U.S. Treasury securities                 2,502,624      51,920   1,365,358       60,605      73,220     153,152     171,112     131,366      35,969      21,656      37,110     108,667     292,488
        Bills (2)                                303,042       6,287     165,331        7,339       8,866      18,545      20,720      15,907       4,356       2,622       4,494      13,158      35,417
        Notes and bonds (3)                    2,199,582      45,633   1,200,027       53,266      64,354     134,607     150,392     115,459      31,614      19,033      32,616      95,508     257,071
      Federal agency debt securities (2)           2,347          49       1,280           57          69         144         160         123          34          20          35         102         274
      Mortgage-backed securities (4)           1,371,846      28,461     748,439       33,221      40,137      83,952      93,797      72,010      19,717      11,871      20,342      59,567     160,331
    Unamortized premiums on securities held 
      outright (5)                               124,406       2,581      67,872        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)                          -13,425        -279      -7,324         -325        -393        -822        -918        -705        -193        -116        -199        -583      -1,569
    Repurchase agreements (6)                    195,000       4,046     106,386        4,722       5,705      11,933      13,333      10,236       2,803       1,687       2,892       8,467      22,790
    Loans                                              1           0           0            0           0           0           0           1           0           0           0           0           0
  Net portfolio holdings of Maiden                                                                                                                                                                       
     Lane LLC (7)                                      0           0           0            0           0           0           0           0           0           0           0           0           0
  Items in process of collection                      42           0           0            0           0           0          42           0           0           0           0           0           0
  Bank premises                                    2,198         104         454           94         119         191         202         191         102          92         227         223         197
  Central bank liquidity swaps (8)                    48           2          15            3           4          10           3           2           1           0           0           1           7
  Foreign currency denominated                                                                                                                                                                           
     assets (9)                                   20,775         895       6,594        1,200       1,658       4,429       1,208         867         317          99         201         257       3,050
  Other assets (10)                               17,657         379       9,052          420         524       1,299       1,181         896         553         207         334         782       2,031
  Interdistrict settlement account                     0  +   39,056  -  180,967   +    1,186  +    6,052  +       25  +   28,278  +   17,793  +   10,498  +    6,497  +    7,447  +   28,028  +   36,107
                                                                                                                                                                                                         
Total assets                                   4,241,507     127,801   2,122,739      104,894     131,600     263,329     319,284     240,733      72,102      43,420      70,797     212,286     532,523

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, March 4, 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            1,964,485      60,909     648,634      57,264      93,598     134,100     274,105     126,665      59,341      32,055      54,093     163,610     260,111
    Less: Notes held by F.R. Banks               202,360       6,011      53,214       8,660       8,800      15,646      31,686      12,821       4,603       2,781       7,085      18,532      32,522
      Federal Reserve notes, net               1,762,125      54,898     595,420      48,604      84,797     118,454     242,420     113,844      54,738      29,275      47,008     145,078     227,589
  Reverse repurchase agreements (11)             236,702       4,911     129,138       5,732       6,925      14,485      16,184      12,425       3,402       2,048       3,510      10,278      27,664
  Deposits                                     2,197,400      65,955   1,382,677      48,944      36,316     121,609      58,304     112,599      13,149      11,012      19,682      56,196     270,957
    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                           1,735,006      65,941     966,361      48,942      36,262     121,119      58,269      67,341      13,145      10,959      19,657      56,058     270,950
    U.S. Treasury, General Account               381,302           0     381,302           0           0           0           0           0           0           0           0           0           0
    Foreign official                               5,186           2       5,159           2           3           9           2           2           1           0           0           0           6
    Other (12)                                    75,906          13      29,855           0          51         481          32      45,256           3          53          24         137           1
  Deferred availability cash items                   670           0           0           0           0           0          46           0           0         624           0           0           0
  Earnings remittances due to the U.S.      
     Treasury (13)                                 2,091          41       1,023          64          92         174         171          99          46          22          27          82         251
  Other liabilities and accrued             
     dividends                                     3,961         167       1,507         162         177         477         263         271         135         137         160         194         310
                                                                                                                                                                                                        
Total liabilities                              4,202,949     125,972   2,109,765     103,507     128,307     255,198     317,388     239,237      71,470      43,118      70,388     211,828     526,771
                                                                                                                                                                                                        
Capital                                                                                                                                                                                                 
  Capital paid in                                 31,733       1,505      10,681       1,141       2,710       6,691       1,558       1,231         520         248         337         377       4,736
  Surplus                                          6,825         324       2,294         246         583       1,441         338         265         112          53          72          81       1,016
  Other capital                                        0           0           0           0           0           0           0           0           0           0           0           0           0
                                                                                                                                                                                                        
Total liabilities and capital                  4,241,507     127,801   2,122,739     104,894     131,600     263,329     319,284     240,733      72,102      43,420      70,797     212,286     532,523

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, March 4, 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   
                                                                                           Mar 4, 2020  

Federal Reserve notes outstanding                                                            1,964,485  
  Less: Notes held by F.R. Banks not subject to collateralization                              202,360  
    Federal Reserve notes to be collateralized                                               1,762,125  
Collateral held against Federal Reserve notes                                                1,762,125  
  Gold certificate account                                                                      11,037  
  Special drawing rights certificate account                                                     5,200  
  U.S. Treasury, agency debt, and mortgage-backed securities pledged (1,2)                   1,745,888  
  Other assets pledged                                                                               0  
Memo:                                                                                                   
Total U.S. Treasury, agency debt, and mortgage-backed securities (1,2)                       4,071,816  
  Less: Face value of securities under reverse repurchase agreements                           229,676  
    U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged        3,842,140  

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.