FEDERAL RESERVE statistical release

H.4.1

Factors Affecting Reserve Balances of Depository Institutions and

Condition Statement of Federal Reserve Banks January 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

Jan 30, 2019 Jan 23, 2019 Jan 31, 2018

Wednesday

Jan 30, 2019

Reserve Bank credit 4,000,819 - 9,941 - 387,183 3,999,505

Securities held outright1 3,845,280 - 8,935 - 365,322 3,844,229

U.S. Treasury securities 2,220,050 - 97 - 225,417 2,220,012

Bills2 0 0 0 0

Notes and bonds, nominal2 2,083,586 0 - 234,899 2,083,586

Notes and bonds, inflation-indexed2 114,769 0 + 6,993 114,769

Inflation compensation3 21,694 - 97 + 2,488 21,656

Federal agency debt securities2 2,409 0 - 1,982 2,409

Mortgage-backed securities4 1,622,822 - 8,837 - 137,922 1,621,809

Unamortized premiums on securities held outright5 138,661 - 527 - 18,777 138,538

Unamortized discounts on securities held outright5 -13,301 + 31 + 766 -13,289

Repurchase agreements6 0 0 0 0

Loans 24 - 20 - 47 34

Primary credit 18 - 22 - 45 27

Secondary credit 0 0 0 0

Seasonal credit 6 + 3 - 2 7

Other credit extensions 0 0 0 0

Net portfolio holdings of Maiden Lane LLC7 0 0 - 1,714 0

Float -301 - 165 + 83 -1,091

Central bank liquidity swaps8 76 - 10 - 597 77

Other Federal Reserve assets9 30,380 - 316 - 1,575 31,007

Foreign currency denominated assets10 20,938 + 40 - 1,198 20,951

Gold stock 11,041 0 0 11,041

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

Treasury currency outstanding11 49,903 + 14 + 463 49,903

Total factors supplying reserve funds 4,087,901 - 9,887 - 387,918 4,086,600

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

Jan 30, 2019 Jan 23, 2019 Jan 31, 2018

Wednesday

Jan 30, 2019

Currency in circulation11 1,702,741 - 2,128 + 96,975 1,703,424

Reverse repurchase agreements12 247,571 - 9,586 - 19,085 249,236

Foreign official and international accounts 244,185 - 2,029 + 6,917 248,246

Others 3,386 - 7,558 - 26,002 990

Treasury cash holdings 251 + 14 - 8 259

Deposits with F.R. Banks, other than reserve balances 475,139 + 5,387 + 123,730 480,026

Term deposits held by depository institutions 0 0 0 0

U.S. Treasury, General Account 403,276 + 13,650 + 133,032 411,384

Foreign official 5,244 - 40 - 10 5,242

Other13 66,619 - 8,223 - 9,293 63,399

Other liabilities and capital14 44,661 + 764 - 3,438 44,516

Total factors, other than reserve balances,

absorbing reserve funds 2,470,363 - 5,549 + 198,174 2,477,460

Reserve balances with Federal Reserve Banks 1,617,539 - 4,337 - 586,091 1,609,140

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

Jan 30, 2019 Jan 23, 2019 Jan 31, 2018

Wednesday

Jan 30, 2019

Securities held in custody for foreign official and international

accounts 3,414,056 + 5,595 + 47,758 3,417,099

Marketable U.S. Treasury securities1 3,025,658 - 1,725 - 338 3,028,428

Federal agency debt and mortgage-backed securities2 318,935 + 6,834 + 57,719 319,242

Other securities3 69,462 + 486 - 9,624 69,428

Securities lent to dealers 19,236 - 1,323 - 4,185 19,421

Overnight facility4 19,236 - 1,323 - 4,185 19,421

U.S. Treasury securities 19,236 - 1,323 - 4,185 19,421

Federal agency debt securities 0 0 0 0

Note: Components may not sum to totals because of rounding.

1. Includes securities and U.S. Treasury STRIPS at face value, and inflation compensation on TIPS. Does not include securities pledged as collateral

to foreign official and international account holders against reverse repurchase agreements with the Federal Reserve presented in tables 1, 4, and 5.

2. Face value of federal agency securities and current face value of mortgage-backed securities, which is the remaining principal balance of the

securities.

3. Includes non-marketable U.S. Treasury securities, supranationals, corporate bonds, asset-backed securities, and commercial paper at face value.

4. Face value. Fully collateralized by U.S. Treasury securities.

2. Maturity Distribution of Securities, Loans, and Selected Other Assets and Liabilities, January 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 34 0 0 0 0 ... 34

U.S. Treasury securities1

Holdings 14,191 110,357 260,766 957,302 259,354 618,041 2,220,012

Weekly changes 0 + 31,746 - 31,748 + 1,761 - 1,814 - 49 - 103

Federal agency debt securities2

Holdings 0 62 0 0 0 2,347 2,409

Weekly changes 0 0 0 0 0 0 0

Mortgage-backed securities3

Holdings 0 0 4 208 64,472 1,557,126 1,621,809

Weekly changes 0 0 0 - 8 - 809 - 6,267 - 7,086

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

Central bank liquidity swaps5 77 0 0 0 0 0 77

Reverse repurchase agreements4 249,236 0 ... ... ... ... 249,236

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 Jan 30, 2019

Mortgage-backed securities held outright1 1,621,809

Commitments to buy mortgage-backed securities2 292

Commitments to sell mortgage-backed securities2 0

Cash and cash equivalents3 0

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

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

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

Jan 30, 2019 Jan 23, 2019 Jan 31, 2018

Assets

Gold certificate account 11,037 0 0

Special drawing rights certificate account 5,200 0 0

Coin 1,801 + 21 - 144

Securities, unamortized premiums and discounts,

repurchase agreements, and loans 3,969,512 - 7,600 - 375,131

Securities held outright1 3,844,229 - 7,190 - 357,117

U.S. Treasury securities 2,220,012 - 103 - 216,199

Bills2 0 0 0

Notes and bonds, nominal2 2,083,586 0 - 224,005

Notes and bonds, inflation-indexed2 114,769 0 + 5,356

Inflation compensation3 21,656 - 104 + 2,450

Federal agency debt securities2 2,409 0 - 1,982

Mortgage-backed securities4 1,621,809 - 7,086 - 138,934

Unamortized premiums on securities held outright5 138,538 - 458 - 18,799

Unamortized discounts on securities held outright5 -13,289 + 33 + 805

Repurchase agreements6 0 0 0

Loans 34 + 15 - 20

Net portfolio holdings of Maiden Lane LLC7 0 0 - 1,715

Items in process of collection (0) 93 - 113 + 2

Bank premises 2,207 + 2 - 3

Central bank liquidity swaps8 77 - 9 - 596

Foreign currency denominated assets9 20,951 + 21 - 1,159

Other assets10 28,800 + 303 - 801

Total assets (0) 4,039,678 - 7,374 - 379,547

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

Jan 30, 2019 Jan 23, 2019 Jan 31, 2018

Liabilities

Federal Reserve notes, net of F.R. Bank holdings 1,655,577 - 1,504 + 95,275

Reverse repurchase agreements11 249,236 - 4,381 - 61,240

Deposits (0) 2,089,165 - 2,986 - 411,000

Term deposits held by depository institutions 0 0 0

Other deposits held by depository institutions 1,609,140 - 2,578 - 533,236

U.S. Treasury, General Account 411,384 + 9,157 + 135,590

Foreign official 5,242 - 1 - 13

Other12 (0) 63,399 - 9,564 - 13,341

Deferred availability cash items (0) 1,184 + 753 + 55

Other liabilities and accrued dividends13 5,376 + 736 - 290

Total liabilities (0) 4,000,538 - 7,381 - 377,200

Capital accounts

Capital paid in 32,315 + 7 + 828

Surplus 6,825 0 - 3,175

Other capital accounts 0 0 0

Total capital 39,140 + 7 - 2,347

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, January 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 11,037 364 3,626 350 544 773 1,491 739 334 199 307 905 1,405

Special drawing rights certificate acct. 5,200 196 1,818 210 237 412 654 424 150 90 153 282 574

Coin 1,801 48 47 153 127 233 201 296 31 47 115 204 298

Securities, unamortized premiums and

discounts, repurchase agreements,

and loans 3,969,512 75,814 2,191,465 100,221 112,536 234,899 238,275 212,616 52,847 33,128 62,489 164,137 491,086

Securities held outright1 3,844,229 73,421 2,122,313 97,059 108,985 227,487 230,757 205,889 51,179 32,080 60,517 158,958 475,585

U.S. Treasury securities 2,220,012 42,400 1,225,619 56,051 62,938 131,372 133,260 118,899 29,556 18,526 34,948 91,797 274,647

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

Notes and bonds3 2,220,012 42,400 1,225,619 56,051 62,938 131,372 133,260 118,899 29,556 18,526 34,948 91,797 274,647

Federal agency debt securities2 2,409 46 1,330 61 68 143 145 129 32 20 38 100 298

Mortgage-backed securities4 1,621,809 30,975 895,364 40,947 45,979 95,972 97,352 86,861 21,592 13,534 25,531 67,061 200,641

Unamortized premiums on securities 

held outright5 138,538 2,646 76,484 3,498 3,928 8,198 8,316 7,420 1,844 1,156 2,181 5,729 17,139

Unamortized discounts on securities 

held outright5 -13,289 -254 -7,337 -336 -377 -786 -798 -712 -177 -111 -209 -550 -1,644

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

Loans 34 1 5 0 0 0 0 20 0 3 0 0 5

Net portfolio holdings of Maiden

Lane LLC7 0 0 0 0 0 0 0 0 0 0 0 0 0

Items in process of collection 93 0 0 0 0 0 92 0 0 0 0 0 0

Bank premises 2,207 108 460 82 118 194 208 193 106 95 232 220 193

Central bank liquidity swaps8 77 3 24 4 6 17 4 3 1 0 1 1 11

Foreign currency denominated

assets9 20,951 891 6,606 1,190 1,691 4,525 1,211 888 302 96 208 259 3,083

Other assets10 28,800 578 15,355 720 829 1,958 1,723 1,508 468 292 527 1,333 3,508

Interdistrict settlement account 0 + 5,279 - 9,209 - 5,452 + 2,678 - 13,500 + 31,682 - 68 + 7,373 + 3,637 - 3,625 + 4,101 - 22,896

Total assets 4,039,678 83,282 2,210,192 97,478 118,767 229,511 275,541 216,599 61,613 37,586 60,406 171,443 477,262

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, January 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 1,866,864 57,732 618,866 54,854 89,231 125,939 261,212 121,771 55,883 31,413 49,787 150,262 249,914

Less: Notes held by F.R. Banks 211,287 6,478 55,544 7,258 10,086 14,898 33,361 15,207 5,784 2,938 6,385 19,306 34,043

Federal Reserve notes, net 1,655,577 51,254 563,323 47,596 79,145 111,042 227,851 106,564 50,099 28,475 43,402 130,956 215,871

Reverse repurchase agreements11 249,236 4,760 137,598 6,293 7,066 14,749 14,961 13,349 3,318 2,080 3,924 10,306 30,834

Deposits 2,089,165 25,394 1,494,686 41,111 29,213 94,723 30,013 94,700 7,453 5,585 12,541 29,448 224,301

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 1,609,140 25,378 1,058,326 41,108 29,188 94,412 29,975 51,682 7,445 5,450 12,526 29,356 224,293

U.S. Treasury, General Account 411,384 0 411,384 0 0 0 0 0 0 0 0 0 0

Foreign official 5,242 2 5,215 2 3 9 2 2 1 0 0 0 6

Other12 63,399 14 19,761 1 21 302 36 43,016 7 134 14 92 2

Deferred availability cash items 1,184 0 0 0 0 0 71 0 0 1,113 0 0 0

Earnings remittances due to the U.S.

Treasury13 845 15 423 18 31 58 77 42 11 10 9 51 99

Other liabilities and accrued

dividends 4,531 172 1,736 198 186 589 291 310 123 137 166 211 413

Total liabilities 4,000,538 81,594 2,197,766 95,215 115,640 221,160 273,264 214,965 61,004 37,399 60,041 170,971 471,519

Capital

Capital paid in 32,315 1,393 10,260 1,868 2,581 6,896 1,881 1,350 505 154 298 387 4,740

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 4,039,678 83,282 2,210,192 97,478 118,767 229,511 275,541 216,599 61,613 37,586 60,406 171,443 477,262

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, January 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 Jan 30, 2019

Federal Reserve notes outstanding 1,866,864

Less: Notes held by F.R. Banks not subject to collateralization 211,287

Federal Reserve notes to be collateralized 1,655,577

Collateral held against Federal Reserve notes 1,655,577

Gold certificate account 11,037

Special drawing rights certificate account 5,200

U.S. Treasury, agency debt, and mortgage-backed securities pledged1,2 1,639,340

Other assets pledged 0

Memo:

Total U.S. Treasury, agency debt, and mortgage-backed securities1,2 3,844,229

Less: Face value of securities under reverse repurchase agreements 241,333

U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 3,602,896

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.