FEDERAL RESERVE statistical release

H.4.1

Factors Affecting Reserve Balances of Depository Institutions and     
Condition Statement of Federal Reserve Banks                                                    April 2, 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   Apr 1, 2020 
Federal Reserve Banks                                      Apr 1, 2020 Mar 25, 2020  Apr 3, 2019              

Reserve Bank credit                                         5,574,804   +  604,440   +1,665,932    5,772,536  
  Securities held outright (1)                              4,604,983   +  417,565   +  843,862    4,800,901  
    U.S. Treasury securities                                3,175,115   +  361,629   +1,009,063    3,340,832  
      Bills (2)                                               326,044            0   +  326,044      326,044  
      Notes and bonds, nominal (2)                          2,637,583   +  332,763   +  608,163    2,791,860  
      Notes and bonds, inflation-indexed (2)                  181,062   +   26,589   +   65,908      191,725  
      Inflation compensation (3)                               30,427   +    2,278   +    8,949       31,204  
    Federal agency debt securities (2)                          2,347            0            0        2,347  
    Mortgage-backed securities (4)                          1,427,520   +   55,935   -  165,203    1,457,721  
  Unamortized premiums on securities held outright (5)        191,598   +   40,119   +   56,044      211,339  
  Unamortized discounts on securities held outright (5)        -9,205   +    1,800   +    3,899       -8,492  
  Repurchase agreements (6)                                   302,463   -   85,065   +  302,463      263,050  
  Loans                                                       130,308   +   68,978   +  130,250      129,461  
    Primary credit                                             49,578   +    9,649   +   49,527       43,744  
    Secondary credit                                                0            0            0            0  
    Seasonal credit                                                 0            0   -        7            0  
    Primary Dealer Credit Facility                             33,882   +   19,492   +   33,882       33,050  
    Money Market Mutual Fund Liquidity Facility                46,849   +   39,838   +   46,849       52,667  
    Other credit extensions                                         0            0            0            0  
  Net portfolio holdings of Maiden Lane LLC (7)                     0            0            0            0  
  Float                                                          -443   -      253   +      136         -550  
  Central bank liquidity swaps (8)                            327,787   +  158,973   +  326,422      348,544  
  Other Federal Reserve assets (9)                             27,313   +    2,324   +    2,857       28,283  
Foreign currency denominated assets (10)                       20,601   +      558   -       42       20,584  
Gold stock                                                     11,041            0            0       11,041  
Special drawing rights certificate account                      5,200            0            0        5,200  
Treasury currency outstanding (11)                             50,219   +       14   +      354       50,219  
                                                                                                              
Total factors supplying reserve funds                       5,661,865   +  605,012   +1,666,243    5,859,580  

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   Apr 1, 2020 
Federal Reserve Banks                                      Apr 1, 2020 Mar 25, 2020  Apr 3, 2019              

Currency in circulation (11)                                 1,876,878   +   17,112   +  152,132    1,879,230 
Reverse repurchase agreements (12)                             484,878   +  201,409   +  234,571      494,427 
  Foreign official and international accounts                  270,436   +   16,063   +   20,522      286,599 
  Others                                                       214,442   +  185,346   +  214,049      207,828 
Treasury cash holdings                                             327   +        2   -        9          318 
Deposits with F.R. Banks, other than reserve balances          713,106   +   33,422   +  337,652      749,312 
  Term deposits held by depository institutions                      0            0            0            0 
  U.S. Treasury, General Account                               429,267   +   39,015   +  119,079      506,933 
  Foreign official                                              17,208   +    6,849   +   11,965       17,745 
  Other (13)                                                   266,631   -   12,442   +  206,607      224,635 
Other liabilities and capital (14)                              52,768   +    6,131   +    8,388       51,895 
                                                                                                              
Total factors, other than reserve balances,               
    absorbing reserve funds                                  3,127,957   +  258,075   +  732,733    3,175,183 
                                                                                                              
Reserve balances with Federal Reserve Banks                  2,533,908   +  346,937   +  933,510    2,684,398 

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   Apr 1, 2020 
                                                           Apr 1, 2020 Mar 25, 2020  Apr 3, 2019              

Securities held in custody for foreign official and       
     international accounts                                  3,338,421   -   16,852   -  121,354    3,325,434 
  Marketable U.S. Treasury securities (1)                    2,867,348   -   23,979   -  194,838    2,855,182 
  Federal agency debt and mortgage-backed securities (2)       388,529   +    7,638   +   62,810      388,293 
  Other securities (3)                                          82,544   -      511   +   10,674       81,958 
Securities lent to dealers                                      36,904   +    1,957   +    7,953       37,705 
  Overnight facility (4)                                        36,904   +    1,957   +    7,953       37,705 
    U.S. Treasury securities                                    36,904   +    1,961   +    7,953       37,705 
    Federal agency debt securities                                   0   -        3            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, April 1, 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)                                   16,026        95,825        17,611             0             0           ...       129,461 
U.S. Treasury securities (2)                                                                                                           
  Holdings                                  36,238       233,009       468,063     1,298,345       509,228       795,949     3,340,832 
  Weekly changes                        -    7,799    +   11,958    +   37,996    +  187,200    +   72,910    +   60,195    +  362,460 
Federal agency debt securities (3)                                                                                                     
  Holdings                                       0             0             0             0         1,151         1,196         2,347 
  Weekly changes                                 0             0             0             0             0             0             0 
Mortgage-backed securities (4)                                                                                                         
  Holdings                                       0             0             5         1,642        72,269     1,383,805     1,457,721 
  Weekly changes                                 0             0    +        1    -        1    +    1,445    +   71,712    +   73,158 
Repurchase agreements (5)                  131,400       131,650           ...           ...           ...           ...       263,050 
Central bank liquidity swaps (6)           119,087       229,457             0             0             0             0       348,544 
                                                                                                                                       
Reverse repurchase agreements (5)          494,427             0           ...           ...           ...           ...       494,427 
Term deposits                                    0             0             0           ...           ...           ...             0 

Note: Components may not sum to totals because of rounding.
...Not applicable.


1.  Loans includes primary, secondary, and seasonal loans and credit extended through the Primary           
    Dealer Credit Facility, Money Market Mutual Fund Liquidity Facility, and other credit extensions.   
2.  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.             
3.  Face value.                                                                                             
4.  Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. The current face value shown is the              
    remaining principal balance of the securities.                                                      
5.  Cash value of agreements.                                                                               
6.  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   
                                                                                                                       Apr 1, 2020  

Mortgage-backed securities held outright (1)                                                                             1,457,721  
                                                                                                                                    
Commitments to buy mortgage-backed securities (2)                                                                          214,729  
Commitments to sell mortgage-backed securities (2)                                                                               0  
                                                                                                                                    
Cash and cash equivalents (3)                                                                                                  270  



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        Apr 1, 2020   Wednesday    Wednesday  
                                                        consolidation                Mar 25, 2020  Apr 3, 2019 

Assets                                                                                                         
  Gold certificate account                                                   11,037            0            0  
  Special drawing rights certificate account                                  5,200            0            0  
  Coin                                                                        1,660   +       19   -       59  
  Securities, unamortized premiums and discounts,     
     repurchase agreements, and loans                                     5,396,259   +  411,255   +1,525,495  
    Securities held outright (1)                                          4,800,901   +  435,619   +1,052,523  
      U.S. Treasury securities                                            3,340,832   +  362,460   +1,187,524  
        Bills (2)                                                           326,044            0   +  326,044  
        Notes and bonds, nominal (2)                                      2,791,860   +  335,735   +  775,228  
        Notes and bonds, inflation-indexed (2)                              191,725   +   24,793   +   76,571  
        Inflation compensation (3)                                           31,204   +    1,933   +    9,681  
      Federal agency debt securities (2)                                      2,347            0            0  
      Mortgage-backed securities (4)                                      1,457,721   +   73,158   -  135,002  
    Unamortized premiums on securities held outright  
    (5)                                                                     211,339   +   43,066   +   75,871  
    Unamortized discounts on securities held outright 
    (5)                                                                      -8,492   +    1,534   +    4,601  
    Repurchase agreements (6)                                               263,050   -   89,305   +  263,050  
    Loans (7)                                                               129,461   +   20,342   +  129,450  
  Net portfolio holdings of Maiden Lane LLC (8)                                   0            0            0  
  Items in process of collection                                   (0)           40   +        3   -        6  
  Bank premises                                                               2,198   -        9   -        1  
  Central bank liquidity swaps (9)                                          348,544   +  142,493   +  347,179  
  Foreign currency denominated assets (10)                                   20,584   +      451   -       22  
  Other assets (11)                                                          26,085   +    3,117   +    3,513  
                                                                                                               
Total assets                                                       (0)    5,811,607   +  557,329   +1,876,098  

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        Apr 1, 2020   Wednesday    Wednesday  
                                                        consolidation                Mar 25, 2020  Apr 3, 2019 

Liabilities                                                                                                    
  Federal Reserve notes, net of F.R. Bank holdings                         1,830,985   +    7,017   +  151,353 
  Reverse repurchase agreements (12)                                         494,427   +  135,313   +  245,062 
  Deposits                                                          (0)    3,433,710   +  412,444   +1,471,855 
    Term deposits held by depository institutions                                  0            0            0 
    Other deposits held by depository institutions                         2,684,398   +  336,651   +1,053,411 
    U.S. Treasury, General Account                                           506,933   +  122,043   +  236,463 
    Foreign official                                                          17,745   +    1,484   +   12,502 
    Other (13)                                                      (0)      224,635   -   47,733   +  169,480 
  Deferred availability cash items                                  (0)          591   +      283   +       54 
  Other liabilities and accrued dividends (14)                                13,067   +    2,240   +    8,285 
                                                                                                               
Total liabilities                                                   (0)    5,772,780   +  557,297   +1,876,610 
                                                                                                               
Capital accounts                                                                                               
  Capital paid in                                                             32,002   +       33   -      512 
  Surplus                                                                      6,825            0            0 
  Other capital accounts                                                           0            0            0 
                                                                                                               
Total capital                                                                 38,827   +       33   -      512 

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.  Loans includes primary, secondary, and seasonal loans and credit extended through the Primary           
    Dealer Credit Facility, Money Market Mutual Fund Liquidity Facility, and other credit extensions.   
8.  Refer to the note on consolidation accompanying table 5.                                                
9.  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.     
10. Revalued daily at current foreign currency exchange rates.                                              
11. Includes accrued interest, which represents the daily accumulation of interest earned, and other        
    accounts receivable.                                                                                
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.                               

 



5. Statement of Condition of Each Federal Reserve Bank, April 1, 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 certificates and special drawing     
    rights certificates                           16,237         547       5,525          537         768       1,166       2,214       1,135         478         276         445       1,172       1,974
  Coin                                             1,660          41          49          151          92         226         151         279          29          50         110         187         293
  Securities, unamortized premiums and      
     discounts, repurchase agreements,      
     and loans (1)                             5,396,259     162,924   2,934,918      127,985     155,267     322,677     360,353     280,293      75,956      45,593      79,141     229,969     621,183
  Central bank liquidity swaps (2)               348,544      16,544     117,133       12,543      29,785      73,566      17,287      13,536       5,713       2,729       3,676       4,138      51,895
  Foreign currency denominated                                                                                                                                                                           
     assets (3)                                   20,584         977       6,920          741       1,759       4,344       1,021         799         337         161         217         244       3,064
  Other assets (4)                                28,323         671      14,212          726         901       2,027       2,013       1,538         565         384         702       1,352       3,233
  Interdistrict settlement account                     0  -   13,288  -   36,306   -    4,899  -    4,151  +   50,213  -   26,638  +   63,914  -    4,366  -    2,274  +    6,028  +   59,284  -   87,516
                                                                                                                                                                                                         
Total assets                                   5,811,607     168,415   3,042,450      137,784     184,421     454,219     356,400     361,494      78,713      46,919      90,320     296,346     594,126

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, April 1, 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, net                   1,830,985      57,034     615,049      50,206      85,754     123,337     253,476     118,496      56,848      30,394      49,096     149,545     241,749
  Reverse repurchase agreements (5)              494,427      10,257     269,745      11,973      14,466      30,257      33,805      25,953       7,106       4,278       7,332      21,469      57,785
  Deposits                                     3,433,710      98,922   2,138,615      73,803      80,429     291,379      66,209     214,757      13,843      11,142      33,180     124,057     287,375
    Depository institutions                    2,684,398      98,837   1,544,831      73,802      75,485     290,037      63,419      82,535      13,837      10,841      21,905     121,524     287,346
    U.S. Treasury, General Account               506,933           0     506,933           0           0           0           0           0           0           0           0           0           0
    Foreign official                              17,745           2      17,718           1           3           8           2           2           1           0           0           0           6
    Other (6)                                    224,635          83      69,133           0       4,940       1,334       2,788     132,221           5         301      11,275       2,532          23
  Earnings remittances due to the U.S.      
     Treasury (7)                                  2,244          60       1,171          67          66         163         165         115          30          22          28          94         264
  Other liabilities and accrued             
     dividends                                    11,414         311       4,870         346         409         932         846         674         252         757         274         536       1,206
                                                                                                                                                                                                        
Total liabilities                              5,772,780     166,585   3,029,449     136,396     181,123     446,069     354,501     359,996      78,078      46,594      89,909     295,700     588,379
                                                                                                                                                                                                        
Capital                                                                                                                                                                                                 
  Capital paid in                                 32,002       1,506      10,707       1,143       2,714       6,710       1,561       1,233         523         272         339         564       4,731
  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                  5,811,607     168,415   3,042,450     137,784     184,421     454,219     356,400     361,494      78,713      46,919      90,320     296,346     594,126

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, April 1, 2020 (continued)


1.  Securities include outright holdings of U.S. Treasury securities, federal agency debt securities, and mortgage-backed securities, including securities lent to dealers under the overnight              
    securities lending facility; refer to table 1A. Mortgage-backed securities are guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. Unamortized premiums and discounts are the differences between the
    purchase price and the face value of the securities that have not been amortized. For U.S. Treasury securities, federal agency debt securities, and mortgage-backed securities, amortization is on an
    effective-interest basis. Repurchase agreements reflect the cash value of agreements, which are collateralized by U.S. Treasury and federal agency securities. Loans includes primary, secondary, and
    seasonal loans and credit extended through the Primary Dealer Credit Facility, Money Market Mutual Fund Liquidity Facility, and other credit extensions.                                            
2.  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.  Revalued daily at current foreign currency exchange rates.                                                                                                                                              
4.  Includes items in process of collection, bank premises, accrued interest (which represents the daily accumulation of interest earned), and other accounts receivable. Also includes Net portfolio       
    holdings of Maiden Lane LLC; refer to the note on consolidation for additional information.                                                                                                         
5.  Cash value of agreements, which are collateralized by U.S. Treasury securities, federal agency debt securities, and mortgage-backed securities.                                                         
6.  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.                                                                                                          
7.  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 a component of Other
assets on the previous page (and as assets 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   
                                                                                           Apr 1, 2020  

Federal Reserve notes outstanding                                                            1,984,531  
  Less: Notes held by F.R. Banks not subject to collateralization                              153,546  
    Federal Reserve notes to be collateralized                                               1,830,985  
Collateral held against Federal Reserve notes                                                1,830,985  
  Gold certificate account                                                                      11,037  
  Special drawing rights certificate account                                                     5,200  
  U.S. Treasury, agency debt, and mortgage-backed securities pledged (1,2)                   1,814,748  
  Other assets pledged                                                                               0  
Memo:                                                                                                   
Total U.S. Treasury, agency debt, and mortgage-backed securities (1,2)                       5,063,951  
  Less: Face value of securities under reverse repurchase agreements                           418,431  
    U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged        4,645,520  

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.